BSE: 506863
SWADESHI INDUSTRIES LEASING CO
Operates primarily in trading and food processing alongside a textile business, run as a single segment, with materials accounting for 95.4% of revenue (Rs. 65.29 crore of FY26 revenue of Rs. 68.46 crore) and employees only 0.3%, indicating a thin-margin, pass-through cost shape. During FY26, the company acquired Swadeshi Agrotech Industries Pvt Ltd under a common control transaction to add agro-food processing, and signed a non-binding MoU with Perlas Weil Flores International Trading Corporation of the Philippines to co-develop MSME Industrial Parks starting in Udaipur, Rajasthan, covering Asia more broadly along with renewables, EV mobility, agro-food processing, technology exchange and startup incubation. The company is planning 100 MSME Industrial Parks in India, with the partner responsible for foreign investment and the company handling design, operations and infrastructure. Standalone revenue from operations surged to Rs. 6,811.90 lakhs in FY26 from Rs. 1,589.56 lakhs in FY25, while standalone profit after tax was Rs. 170.36 lakhs (vs Rs. 102.85 lakhs). Equity was raised by converting 1.23 crore warrants into shares at Rs. 10 each, doubling paid-up capital to Rs. 2,312.80 lakhs; other equity stayed negative at Rs. (282.34) lakhs and operating cash flow was negative on both standalone (Rs. 99.52 lakhs) and consolidated (Rs. 226.75 lakhs) bases, with negligible debt on the books. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Trading and food processing, Textiles, Agro-food processing, MSME Industrial Parks development. Trading- and pass-through-heavy, multi-business in transition (textiles, food processing, MSME Industrial Parks)
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 68 |
| EBITDA (ex other income) | 2 |
| margin % | 3.4 |
| Owners' profit | 2 |
| EPS, as reported (₹) | 1.47 |
| ROE % · ROCE % | 7.5 · 9.7 |
| Debt / equity (x) | 0.03 |
| Cash from operations | (2) |
| Capex | (3) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q3 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 16 | 33 |
| Profit before tax | 1 | 1 |
| Net profit | 0 | 1 |
| EPS (₹) | 0.36 | 0.35 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| EPL LIMITED | 6,871 | 14.1 | 2.40 | 7.5 | 13.7 | 13.6 | 9.0 | 19.1 |
| AGI GREENPAC LIMITED | 4,627 | 12.8 | 1.92 | 7.0 | 14.6 | 16.5 | — | 23.4 |
| UFLEX LIMITED | 4,203 | 6.2 | 0.52 | 6.7 | 3.9 | 2.7 | 11.6 | 17.1 |
| TCPL PACKAGING LIMITED | 3,722 | 32.2 | 5.18 | 14.1 | 13.6 | 13.0 | 15.4 | 17.8 |
| JINDAL POLY FILMS LIMITED | 2,951 | 144.3 | 0.72 | 10.1 | 0.6 | 0.8 | 8.5 | 23.0 |
| POLYPLEX CORPORATION LTD | 2,899 | 18.7 | 0.41 | 8.0 | 0.6 | 0.3 | 7.6 | 14.3 |
| XPRO INDIA LIMITED | 2,360 | 71.5 | 2.96 | 51.2 | 2.4 | 2.8 | 6.2 | 11.4 |
| COSMO FIRST LIMITED | 1,923 | 11.4 | 1.19 | 7.2 | 9.6 | 6.4 | 9.8 | 12.6 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 105.6 | 16.2 | 61 of 64 | 5% |
| P/B | 7.5 | 1.3 | 60 of 61 | 2% |
| ROCE | 9.7 | 6.9 | 27 of 68 | 61% |
| ROE | 7.5 | 6.8 | 30 of 61 | 52% |
| Debt / Equity | 0.0 | 0.4 | 8 of 61 | 88% |
| EBITDA margin | 3.5 | 12.1 | 56 of 62 | 10% |
| Market cap | 173 | 118 | 30 of 73 | 60% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · Promoter group raises stake to 38.89% through preferential issue | ownership changes | high | — | — |
| 13 Oct 2026 · Compliance Certificate for Demat Requests: Quarter Ended Sept 2026 | compliance | minimal | — | — |
| 30 Sept 2026 · Trading Window Closed for Q2 and H1 FY27 Results Period | compliance | minimal | — | — |
| 16 Sept 2026 · 42nd AGM results: All 9 resolutions passed including name change and MOA changes | board shareholder meetings | low | — | — |
| 15 Sept 2026 · AGM approves name change and object clause alteration | corporate actions | high | — | — |
| 15 Sept 2026 · Dipika Kataria appointed Secretarial Auditor for 5 years | management changes | medium | — | — |
| 15 Sept 2026 · Swadeshi Industries appoints Rajeev Ranjan Sarkari as Independent Director | management changes | medium | — | — |
| 15 Sept 2026 · Swadeshi Industries appoints Dilip Pendse as Independent Director for 5 years | management changes | medium | — | — |
| 15 Sept 2026 · Swadeshi Industries 42nd AGM: 9 resolutions passed including name change and new directors | board shareholder meetings | low | — | — |
| 15 Sept 2026 · 42nd AGM: name change, new directors, Rs 25Cr investment limits approved | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.