BSE: 540980
The Yamuna Syndicate Ltd
Distributes and trades in four product categories — batteries, oil & lubricants, agriculture products, and electricals. In Q4 FY26, oil & lubricants was the largest named segment at Rs. 9.68 cr, followed by batteries at Rs. 4.69 cr, with agriculture products at Rs. 1.68 cr and electricals at Rs. 2.12 cr. Standalone revenue from operations for FY26 was Rs. 6,896.84 lakhs, against Rs. 6,482.01 lakhs in FY25. The disclosed cost structure is light — materials are recorded at 0% of revenue, employee costs at 3%, and other operating expenses at 1.3% — yielding an EBITDA margin of 5.75%. The bulk of consolidated profit does not come from trading; it comes from the share of profit in associate ISGEC Heavy Engineering, which contributed Rs. 4,901.61 lakhs in FY26 against Rs. 8,534.81 lakhs in FY25. Consolidated net profit was Rs. 5,190.05 lakhs, against standalone PAT of Rs. 1,942.68 lakhs. The Board has recommended a final dividend of Rs. 500 per share for FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Batteries, Oil & Lubricants, Agriculture Products, Electricals & Others. Small distribution and holding entity whose consolidated earnings are dominated by its associate stake in ISGEC Heavy Engineering.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 63 | 68 | 64 | 65 | 69 |
| EBITDA (ex other income) | 2 | 2 | 1 | 1 | 1 |
| margin % | 3.3 | 2.6 | 1.7 | 1.9 | 1.8 |
| Owners' profit | 0 | 91 | 124 | 0 | 0 |
| EPS, as reported (₹) | 1772.60 | 2950.31 | 4042.50 | 3743.96 | 1688.56 |
| ROE % · ROCE % | 5.3 · 0.3 | 8.5 · 0.3 | 10.5 · 1.5 | 8.9 · 0.3 | 4.0 · 0.3 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 0 | (1) | (4) | (8) | (5) |
| Capex | (0) | (0) | (0) | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 15 | 15 | 15 | 19 | 15 | 17 | 18 | 23 |
| Profit before tax | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Net profit | 42 | 10 | 33 | 24 | 20 | 32 | 34 | 5 |
| EPS (₹) | 1377.59 | 316.77 | 1068.06 | 791.08 | 664.40 | 1038.87 | 1101.83 | 164.55 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| BATTERIES | 19 | 26.9 |
| OIL & LUBRICANTS | 35 | 50.1 |
| AGRICULTURE PRODUCTS | 9 | 13.2 |
| ELECTRICALS & OTHER | 2 | 3.1 |
| ELECTRICALS & OTHERS | 5 | 6.8 |
| Total, before eliminations | 69 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 27,525 | 16.2 | 2.64 | 12.8 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,740 | 17.3 | 3.65 | 16.5 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,896 | 16.6 | 4.31 | 11.3 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,653 | 25.4 | 4.27 | 19.0 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,104 | — | 12.27 | — | (0.0) | (0.0) | — | 45.0 |
| SHIV AUM STEELS LIMITED | 736 | 64.8 | 6.09 | 47.0 | 6.0 | 6.9 | — | 4.9 |
| The Yamuna Syndicate Ltd ◆ | 736 | 8.1 | 0.57 | 185.3 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 602 | 0.9 | — | 51.0 | — | — | — | — |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 8.1 | 13.9 | 39 of 130 | 71% |
| P/B | 0.6 | 0.9 | 51 of 150 | 66% |
| ROCE | 0.3 | 2.1 | 120 of 177 | 32% |
| ROE | 4.0 | 2.3 | 66 of 158 | 59% |
| Debt / Equity | 0.0 | 0.1 | 1 of 154 | 73% |
| EBITDA margin | 6.2 | 4.5 | 60 of 137 | 57% |
| Revenue growth | 16.5 | (8.6) | 48 of 135 | 65% |
| Profit growth | (79.2) | 0.6 | 114 of 157 | 28% |
| Market cap | 736 | 21 | 7 of 179 | 97% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board to review September 2026 quarterly and half-year results | results | low | — | — |
| 10 Oct 2026 · RTA submits Q2 FY26-27 dematerialisation certificate under SEBI Reg 74(5) | compliance | minimal | — | — |
| 25 Sept 2026 · Trading Window Closed Ahead of Q2 Results | compliance | minimal | — | — |
| 5 Sept 2026 · Final dividend FY26 distributed; withheld for non-KYC physical holders | corporate actions | high | — | — |
| 5 Sept 2026 · Final dividend FY25-26 distributed; withheld for non-KYC holders | corporate actions | high | — | — |
| 26 Aug 2026 · AGM transcript dated 24 August 2026 uploaded on company website | investor communications | low | — | — |
| 25 Aug 2026 · 72nd AGM: All 4 resolutions approved; Rs 500 per share dividend declared | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Yamuna Syndicate 72nd AGM: Rs 500 per share dividend approved | board shareholder meetings | low | — | — |
| 24 Aug 2026 · 72nd AGM held; final dividend of Rs 500 per share declared | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Newspaper publication of Q1FY27 unaudited financial results | compliance | minimal | — | — |
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.