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Sarthak Metals (SMLT)₹71.51−2.73%Iron & Steel Products
In the Mar 2026 quarter (standalone), Sarthak Metals reported sales of ₹62.07 Cr, up 29.0% from Mar 2025, and net profit of ₹1.50 Cr, up 120.6% year on year. For the year to Mar 2026, sales were ₹192 Cr and net profit ₹5.01 Cr.
Company filings, standalone accounts; latest reported quarter Mar 2026
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 81.89 | 77.47 | 75.44 | 70.78 | 40.68 | 45.79 | 44.08 | 48.10 | 46.26 | 36.33 | 47.81 | 62.07 |
| Expenses | 74.18 | 70.19 | 72.84 | 67.96 | 39.01 | 43.78 | 41.92 | 46.69 | 44.45 | 34.65 | 45.66 | 59.47 |
| Operating Profit | 7.55 | 7.19 | 2.44 | 2.64 | 1.61 | 1.92 | 2.06 | 1.36 | 1.75 | 1.63 | 2.09 | 2.50 |
| OPM % | 9.2% | 9.3% | 3.2% | 3.7% | 4.0% | 4.2% | 4.7% | 2.8% | 3.8% | 4.5% | 4.4% | 4.0% |
| Other Income | 0.23 | 0.45 | 0.68 | 0.53 | 0.58 | 0.73 | 0.46 | 0.89 | 0.61 | 0.16 | 0.48 | 0.64 |
| Interest | 0.12 | 0.11 | 0.34 | 0.26 | 0.13 | 0.19 | 0.10 | 0.26 | 0.13 | 0.08 | 0.06 | 0.26 |
| Depreciation | 0.44 | 0.45 | 0.53 | 0.64 | 0.54 | 0.62 | 0.78 | 0.82 | 0.70 | 0.73 | 0.76 | 0.76 |
| Profit before tax | 7.27 | 7.13 | 2.28 | 2.32 | 1.57 | 1.89 | 1.65 | 1.22 | 1.58 | 1.03 | 1.80 | 2.17 |
| Tax % | 26.1% | 22.5% | 24.2% | 25.1% | 10.2% | 55.8% | 25.6% | 43.8% | 31.8% | 25.4% | 27.3% | 31.0% |
| Net Profit | 5.36 | 5.52 | 1.74 | 1.74 | 1.41 | 0.84 | 1.23 | 0.68 | 1.07 | 0.77 | 1.31 | 1.50 |
| EPS (Rs) | 3.92 | 4.03 | 1.25 | 1.25 | 1.03 | 0.60 | 0.88 | 0.48 | 0.76 | 0.57 | 0.94 | 1.08 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 128 | 152 | 171 | 189 | 214 | 222 | 458 | 408 | 306 | 178 | 192 | 192 |
| Expenses | 119 | 143 | 161 | 177 | 203 | 206 | 419 | 368 | 285 | 171 | 184 | 184 |
| Operating Profit | 8.99 | 8.99 | 9.99 | 11.99 | 10.99 | 15.98 | 37.95 | 39.99 | 19.99 | 6.99 | 7.99 | 7.97 |
| OPM % | 7.0% | 6.0% | 6.0% | 6.0% | 5.0% | 7.0% | 8.0% | 10.0% | 6.0% | 3.9% | 4.1% | 4.1% |
| Other Income | 0.99 | 1.99 | 1.99 | 1.99 | 0.99 | 0.00 | 3.99 | 2.99 | 1.99 | 2.99 | 1.99 | 1.89 |
| Interest | 3.01 | 4.02 | 3.01 | 4.02 | 4.01 | 3.01 | 4.02 | 1.01 | 1.01 | 1.01 | 0.00 | 0.53 |
| Depreciation | 1.01 | 1.01 | 0.99 | 2.01 | 2.01 | 1.99 | 1.99 | 2.01 | 2.01 | 3.01 | 3.01 | 2.95 |
| Profit before tax | 5.01 | 6.01 | 7.01 | 8.01 | 6.01 | 11.01 | 36.03 | 40.07 | 19.03 | 6.01 | 7.01 | 6.58 |
| Tax % | 34.0% | 33.9% | 32.0% | 28.0% | 27.9% | 26.0% | 23.0% | 25.9% | 26.9% | 34.0% | 29.0% | — |
| Exceptional items | 0.00 | 0.07 | −0.07 | −0.05 | −0.04 | 0.00 | 2.06 | −0.39 | 0.11 | 0.03 | 0.00 | — |
| Net Profit | 4.01 | 4.01 | 5.01 | 6.01 | 5.01 | 8.01 | 27.02 | 30.03 | 14.01 | 4.01 | 5.01 | 4.65 |
| EPS (Rs) | 2.94 | 2.90 | 3.47 | 4.20 | 3.36 | 5.83 | 20.06 | 21.75 | 10.09 | 3.00 | 3.36 | 3.35 |
| Dividend payout % | 0.0% | 17.0% | 0.0% | 12.0% | 15.0% | 17.0% | 10.0% | 9.0% | 10.0% | 17.0% | 0.0% | — |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12.00 | 11.98 | 13.99 | 14.01 | 14.00 | 13.98 | 14.00 | 13.98 | 13.96 | 13.97 | 13.98 | 13.98 |
| Reserves | 8.02 | 12.03 | 19.05 | 23.07 | 29.07 | 32.08 | 39.10 | 64.08 | 91.07 | 102 | 107 | 111 |
| Borrowings | 23.95 | 23.96 | 26.95 | 25.98 | 35.95 | 22.93 | 31.96 | 21.93 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Liabilities | 3.01 | 1.01 | 3.01 | 3.01 | 5.03 | 7.03 | 6.03 | 15.95 | 4.97 | 3.98 | 3.98 | 12.97 |
| Total Liabilities | 46.98 | 48.98 | 63.00 | 65.07 | 84.05 | 76.02 | 91.09 | 116 | 110 | 120 | 124 | 137 |
| Fixed Assets | 6.02 | 7.02 | 7.03 | 9.03 | 14.05 | 15.04 | 14.05 | 11.03 | 11.04 | 15.06 | 19.05 | 17.06 |
| CWIP | 1.99 | 0.99 | 1.99 | 1.01 | 0.00 | 0.00 | 0.00 | 0.00 | 1.99 | 0.00 | 0.00 | 0.00 |
| Investments | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.00 | 0.00 | 0.00 | 1.99 |
| Other Assets | 38.98 | 39.98 | 52.99 | 55.04 | 69.01 | 60.99 | 77.05 | 104 | 96.97 | 105 | 104 | 117 |
| Inventories | 11.02 | 11.03 | 10.02 | 16.04 | 26.04 | 22.03 | 30.04 | 28.06 | 15.02 | 20.05 | 27.03 | 39.09 |
| Trade receivables | 24.91 | 24.93 | 29.89 | 28.88 | 22.91 | 27.90 | 37.86 | 56.85 | 52.84 | 39.88 | 41.86 | 56.80 |
| Cash & equivalents | 0.99 | 1.99 | 8.96 | 1.99 | 3.98 | 0.99 | 2.99 | 7.98 | 14.94 | 34.88 | 28.88 | 0.00 |
| Total Assets | 46.98 | 48.98 | 63.00 | 65.07 | 84.05 | 76.02 | 91.09 | 116 | 110 | 120 | 124 | 137 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 1.99 | 4.99 | 3.99 | 0.99 | 16.97 | −0.99 | 15.98 | 34.95 | 26.97 | 0.00 | −32.97 |
| Cash from investing activity | −2.99 | −0.99 | −1.99 | −5.98 | −2.99 | −0.99 | 2.99 | −1.99 | −2.99 | −5.98 | −1.99 |
| Cash from financing activity | 1.99 | −2.99 | 5.99 | 6.98 | −16.97 | 3.99 | −14.97 | −25.95 | −2.99 | 0.00 | 5.98 |
| Net cash flow | 0.00 | 0.00 | 7.02 | 2.01 | −2.01 | 2.01 | 4.01 | 7.02 | 20.06 | −6.02 | −29.08 |
| Capex | 3.09 | 1.40 | 2.24 | 11.29 | 3.19 | 1.36 | 1.89 | 3.00 | 4.71 | 7.16 | 0.91 |
| Free cash flow | −1.01 | 3.01 | 2.01 | −5.01 | 14.01 | −2.01 | 19.01 | 31.99 | 22.01 | −6.99 | −32.99 |
| CFO / OP % | 22.0% | 77.0% | 66.0% | 28.0% | 167.0% | 14.0% | 66.0% | 113.0% | 160.0% | 27.0% | −388.0% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 61 | 72 | 72 | 63 | 46 | 49 | 64 | 46 | 48 | 49 | 88 | 109 |
| Inventory days | 30 | 37 | 30 | 40 | 61 | 46 | 61 | 28 | 17 | 29 | 69 | 95 |
| Days payable | 5 | 0 | 2 | 3 | 9 | 9 | 2 | 11 | 2 | 0 | 3 | 5 |
| Cash conversion cycle | 85 | 106 | 100 | 99 | 97 | 85 | 122 | 63 | 63 | 76 | 152 | 198 |
| Working capital days | 28 | 41 | 35 | 57 | 51 | 50 | 65 | 48 | 68 | 79 | 148 | 173 |
| ROCE % | 17.0% | 19.1% | 18.1% | 17.1% | 17.0% | 14.1% | 18.1% | 40.1% | 41.1% | 18.1% | 6.0% | 6.1% |
For the Mar 2026 quarter, Sarthak Metals reported sales of ₹62.07 Cr, up 29.0% year on year and net profit of ₹1.50 Cr, up 120.6% year on year. The operating margin was 4.0%.
Sarthak Metals' sales for the year to Mar 2026 were ₹192 Cr; over the last twelve months they were ₹192 Cr.
Net profit for the year to Mar 2026 was ₹5.01 Cr, and ₹4.65 Cr over the last twelve months. Earnings per share over the same trailing period were ₹3.35.
Sarthak Metals reported borrowings of ₹0 Cr at Mar 2026, against cash and equivalents of ₹0 Cr.
Cash from operations was −₹32.97 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹32.99 Cr.