Sahyadri Industries Limited (SAHYADRI)

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Sahyadri Industries Limited (SAHYADRI) · mywealthgrid

About

Sahyadri Industries operates in construction materials (Materials sector) with a market cap of ₹423 Cr. Revenue has surged to ₹259 Cr (Jun 2026) from ₹106 Cr (Sep 2024), and operating margins recently reached 15.1% versus an 8–9% historical band. Promoters hold 71% of the company, with negligible institutional ownership.

Face value: ₹10

Market cap

₹388 Cr

P/E

8.7×

P/B

1.0×

Dividend yield

1.1%

ROE

7.4%

ROCE

10.6%

Debt / equity

0.04

OPM

EPS (TTM)

₹40.9

Book value

₹370.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin volatility: OPM ranged from 6.13% (Dec 2024) to 15.1% (Jun 2026)—sustainability of recent gains unclear

Extreme institutional underweight (FII 0.01%, DII 0.01%) raises liquidity and governance-monitoring concerns

ROE of 7.39% falls below typical cost of capital, signalling economic value destruction

Vague industry category 'Other Construction Materials' requires verification of actual products, competitive position, and cyclical exposure

Generated analysis · source review pending

Growth drivers

Revenue grew 2.4× from ₹105.95 Cr (Sep 2024) to ₹258.58 Cr (Jun 2026), accelerating sequentially

Operating margins expanded to 15.1% (Jun 2026) from a 6–9% historical range, lifting EPS from ₹1.76 to ₹24.22

Very low debt-to-equity ratio of 0.04 provides financial flexibility for capex or strategic deployment

Regular dividend payouts since 2023 indicate stabilising cash generation and management confidence

Generated analysis · source review pending

2,176 historical price candles were omitted because the exchange source has not been verified.

₹355.7+1.8%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 12.8×
+High promoter holding of 71.1% with no pledge

Cons

−Low return on equity of 6.8% (3-yr avg)
−Profit declined 14% a year over the last 5 years
−Modest revenue growth of 7.4% a year over the last 5 years
−Low dividend payout of 9.7% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

65/100

Business quality: 45
Growth: 51

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Ramco Industries LimitedRAMCOINDRAMCOIND	₹2,624 Cr	₹2,793 Cr	₹1,870 Cr	₹269 Cr	13%	₹327 Cr	17.1%	4.7%	7%	242
Glass Wall Systems (India) LimitedGLASSWALLGLASSWALL	₹2,378 Cr	₹2,384 Cr	₹457 Cr	₹105 Cr	23%	₹84 Cr	18.3%	50.4%	38.6%	—
Arisinfra Solutions LimitedARISARIS	₹1,134 Cr	₹1,189 Cr	₹1,146 Cr	₹113 Cr	9.4%	₹66 Cr	5.7%	21.4%	10.9%	71
Birlanu LimitedBIRLANUBIRLANU	₹1,043 Cr	₹1,896 Cr	₹3,852 Cr	₹43 Cr	0.3%	₹-109 Cr	-3.2%	-4.9%	-10.3%	62
Everest Industries LimitedEVERESTINDEVERESTIND	₹756 Cr	₹884 Cr	₹1,352 Cr	₹-10 Cr	-2.7%	₹-1 Cr	-7.2%	-9%	-18.6%	97
Midwest Gold LtdREMAGNETREMAGNET	₹488 Cr	₹584 Cr	₹4 Cr	₹6 Cr	-8.3%	₹3 Cr	11.5%	2%	1.1%	369
Marble City India LtdMARBLEMARBLE	₹423 Cr	₹528 Cr	₹59 Cr	₹13 Cr	25.3%	₹2 Cr	5.5%	14.6%	6.6%	661
Sahyadri Industries LimitedSAHYADRISAHYADRI	₹388 Cr	₹404 Cr	₹723 Cr	₹80 Cr	9%	₹45 Cr	4.3%	10.6%	7.4%	142
Om Galaxy LtdOMGOMG	₹303 Cr	—	—	—	—	—	—	—	—	—
Glittek Granites LtdGLITTEKGGLITTEKG	₹208 Cr	₹208 Cr	₹2 Cr	₹-22 Cr	—	₹7 Cr	-780%	-3.4%	-3.5%	0
Nidhi Granites LtdNIDHGRNNIDHGRN	₹196 Cr	₹197 Cr	₹65 Cr	₹12 Cr	18.9%	₹8 Cr	11.8%	56.6%	41%	67
Divyashakti LtdDIVSHKTDIVSHKT	₹70 Cr	₹75 Cr	₹57 Cr	₹9 Cr	-1.5%	₹6 Cr	3%	0.8%	0.5%	1,145

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	361	259	278	296	290	474	542	594	634	605	679
COGS	—	-127	-137	-146	-148	-240	-277	319	370	340	387
Gross profit	—	—	—	—	—	—	—	275	264	265	291
	348	345	351	375	390	621	721	194	198	211	230
	13	40	65	68	48	93	98	81	66	54	61
OPM %	3.5%	15.5%	23.2%	22.8%	16.4%	19.6%	18%	13.7%	10.5%	9%	9%
Depreciation	—	23	21	18	14	14	15	24	24	25	25
Interest	20	16	11	8	8	7	5	9	11	7	3
	1	1	0	2	3	6	4	3	4	4	6
Profit before tax	-19	5	36	45	28	79	82	52	35	26	39
Tax	-8	1	11	13	2	17	22	14	9	7	10
Tax %	-42.5%	31.5%	31.5%	28.9%	6.1%	21.5%	27%	28.1%	25.3%	25.7%	25.1%
	-11	3	24	32	27	62	60	37	26	19	29
PAT margin %	-3%	1.2%	8.8%	10.8%	9.2%	13%	11.1%	6.3%	4.2%	3.2%	4.3%
EPS (₹)	-4	3.3	25.6	33.4	27.8	64.5	62.9	33.9	24.1	17.8	26.5
EPS adjusted (₹)	—	—	—	—	—	64.5	54.9	33.9	24.1	17.8	26.5
	—	0%	0%	3%	9%	7.7%	9.5%	11.8%	4.2%	5.6%	5.7%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	10	11	11	11	11	11
Reserves	236	293	324	349	367	395
	46	80	124	116	78	16
	88	85	97	84	87	110
Total equity & liabilities	379	469	557	560	543	532
	123	123	169	181	187	174
CWIP	4	54	36	42	31	33
Investments	48	21	11	12	3	39
	204	270	340	324	322	285
Total assets	379	469	557	560	543	532

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	17	58	54	121
	-45	-34	-11	-50
	29	-22	-46	-66
Net cash flow	1	2	-3	5
Free cash flow	-39	21	32	106
CFO / Operating profit %	20.6%	87%	99%	198.7%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Segment - Building Material	671.68	38.61	459.06	123.11	335.95	11.49
Segment - Power Generation	14.44	3.3

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	46.3%	41.7%	43.8%	42.9%
EBITDA margin %	22.8%	16.4%	19.6%	18%	13.7%	10.5%	9%	9%
EBIT margin %	16.6%	11.5%	16.7%	15.3%	9.6%	6.7%	4.9%	5.4%
PAT margin %	10.8%	9.2%	13%	11.1%	6.3%	4.2%	3.2%	4.3%
Working capital
Receivable days	—	—	31	29	22	18	23	21
Inventory days	—	—	109	143	260	235	242	172
Payable days	—	—	—	—	58	39	44	51
NWC days	—	—	—	—	224	214	221	142
Leverage
Current ratio	—	—	1.85	2.04	1.89	1.94	1.99	2.49
Debt to EBITDA	—	—	0.5	0.82	1.53	1.74	1.43	0.27
Debt to equity	—	—	0.19	0.26	0.37	0.32	0.21	0.04
Interest coverage	6.3	4.6	12.8	18.9	6.7	4.1	4.7	12.8
Asset turnover	—	—	1.25	1.16	1.07	1.13	1.11	1.28
Return ratios
Return on assets %	—	—	16.3%	12.8%	6.7%	4.7%	3.6%	5.5%
Return on capital employed %	—	—	33.4%	29.4%	16.8%	11.8%	8.4%	10.6%
Return on equity %	—	—	25.2%	19.8%	11.1%	7.3%	5.1%	7.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%
	0%	0%	0.01%	0%	0.06%	0%	0.04%	0.03%	0%	0%	0%	0.01%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	28.87%	28.87%	28.86%	28.87%	28.81%	28.87%	28.83%	28.84%	28.87%	28.87%	28.87%	28.86%
No. of shareholders	—	—	—	—	—	—	—	—	11,149	10,838	10,627	10,467

Promoter holding up 0 percentage points since Sep 2023.

Mr. JAYESH PURUSHOTTAM PATELExecutive Director-Chairperson
Mr. SATYEN VALLABHBHAI PATELExecutive Director-MD
Mr. TULJARAM MAHESHWARIExecutive Director-CEO
Mr. SURESH UDDHAV JOSHIExecutive Director
Mr. VED PRAKASH SAXENANon-Executive - Independent Director
Mrs. MOUSHMI SAHIL SHAHANon-Executive - Independent Director
Mr. ANKEM SRI PRASAD MOHANNon-Executive - Independent Director
Mr. SUNIL MAHENDRA SURATWALANon-Executive - Independent Director
Mr. Rajib K. GopeCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Sahyadri Industries Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

31 announcementsExport CSV

19 Aug 2026, 3:02 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	46.3%	41.7%	43.8%	42.9%
EBITDA margin %	22.8%	16.4%	19.6%	18%	13.7%	10.5%	9%	9%
EBIT margin %	16.6%	11.5%	16.7%	15.3%	9.6%	6.7%	4.9%	5.4%
PAT margin %	10.8%	9.2%	13%	11.1%	6.3%	4.2%	3.2%	4.3%
Working capital
Receivable days	—	—	31	29	22	18	23	21
Inventory days	—	—	109	143	260	235	242	172
Payable days	—	—	—	—	58	39	44	51
NWC days	—	—	—	—	224	214	221	142
Leverage
Current ratio	—	—	1.85	2.04	1.89	1.94	1.99	2.49
Debt to EBITDA	—	—	0.5	0.82	1.53	1.74	1.43	0.27
Debt to equity	—	—	0.19	0.26	0.37	0.32	0.21	0.04
Interest coverage	6.3	4.6	12.8	18.9	6.7	4.1	4.7	12.8
Asset turnover	—	—	1.25	1.16	1.07	1.13	1.11	1.28
Return ratios
Return on assets %	—	—	16.3%	12.8%	6.7%	4.7%	3.6%	5.5%
Return on capital employed %	—	—	33.4%	29.4%	16.8%	11.8%	8.4%	10.6%
Return on equity %	—	—	25.2%	19.8%	11.1%	7.3%	5.1%	7.1%

Date	Category	Subject	Filing
19 Aug 2026, 3:02 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
17 Aug 2026, 6:34 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
14 Aug 2026, 1:09 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
14 Aug 2026, 1:06 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF
23 Jul 2026, 5:11 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
22 Jul 2026, 6:44 pm	Corp. Action Record Date	Intimation Of Record Date For The Purpose Of Payment Of Final Dividend For Financial Year 2025-26 In Terms Of Regulation 42 Of The SEBI (LODR) Regulations, 2015.	PDF
22 Jul 2026, 6:32 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
22 Jul 2026, 6:18 pm	AGM/EGM AGM	Intimation Of 32Nd Annual General Meeting Of The Members Of The Company To Be Held On 17Th August, 2026	PDF

Sahyadri Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

No fund holdings on record

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

21

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Building Material · revenue

Sahyadri Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Board and management

No fund holdings on record

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends21

Board meetings1

Profit & loss

Balance sheet

Cash flow

Segment results

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Building Material · revenue

21

1