The Sandesh Limited (SANDESH)

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The Sandesh Limited (SANDESH) · mywealthgrid

About

The Sandesh Limited operates in print media within the Consumer Discretionary sector, with a market capitalization of ₹820.57 Cr and 74.81% promoter ownership. The company demonstrates significant quarterly volatility, with recent quarters ranging from ₹77 Cr to ₹458 Cr in revenue and swinging between ₹34.27 Cr losses and ₹99.83 Cr profits.

Face value: ₹10

Market cap

₹752 Cr

P/E

7.0×

P/B

0.5×

Dividend yield

0.8%

ROE

4.7%

ROCE

6.8%

Debt / equity

OPM

19.6%

EPS (TTM)

₹141.7

Book value

₹1,885.7

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Extreme earnings volatility: Mar 2026 quarter loss of ₹34.27 Cr (OPM −16.45%) followed by Jun 2026 profit of ₹99.83 Cr; researchers should verify whether this reflects seasonality, operational disruption, or structural demand weakness.
Low return on equity (4.74%), suggesting weak capital efficiency; verify whether this reflects industry maturity or capital misallocation.
Stock has declined 19.71% over one year and 21.6% from the 52-week high of ₹1,378.5; verify whether recent performance stabilizes or risks further downside.
Print media sector faces structural headwinds from digital substitution; researchers should assess the company's digital strategy and competitive positioning.

Generated analysis · source review pending

Growth drivers

Jun 2026 quarter revenue rebounded to ₹457.78 Cr with ₹99.83 Cr net profit; verify whether this marks sustainable recovery or reflects seasonal strength.
Zero debt (D/E 0) provides financial flexibility for strategic investments or expansion; researchers should clarify how this capacity is being deployed.
December 2025 quarter achieved 25.78% OPM; identify which revenue mix or cost controls drove this and whether margins can normalise to this level.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹990.1-3.8%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 574.9×
+High promoter holding of 74.8% with no pledge

Cons

−Low return on equity of 9% (3-yr avg)
−Profit declined 6.1% a year over the last 5 years
−Modest revenue growth of 9.9% a year over the last 5 years
−Low dividend payout of 5.3% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

62/100

Business quality: 51
Growth: 59

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
D.b.corp LimitedDBCORPDBCORP	₹3,076 Cr	₹3,097 Cr	₹2,400 Cr	₹514 Cr	20.7%	₹352 Cr	14.1%	17.9%	14.1%	90
Jagran Prakashan LimitedJAGRANJAGRAN	₹1,340 Cr	₹1,376 Cr	₹1,916 Cr	₹256 Cr	13.3%	₹189 Cr	9.9%	12.8%	9.9%	10
The Sandesh LimitedSANDESHSANDESH	₹752 Cr	₹752 Cr	₹824 Cr	₹9 Cr	19.6%	₹107 Cr	15%	6.8%	4.7%	437
Hindustan Media Ventures LimitedHMVLHMVL	₹571 Cr	₹637 Cr	₹822 Cr	₹83 Cr	15.2%	₹90 Cr	6.6%	11.7%	3.1%	-111
Ht Media LimitedHTMEDIAHTMEDIA	₹521 Cr	₹1,183 Cr	₹1,896 Cr	₹125 Cr	7.2%	₹-10 Cr	-2.7%	9.4%	-3.3%	-73
Citizen Infoline LtdCITIZENCITIZEN	₹87 Cr	₹193 Cr	₹1 Cr	₹-1 Cr	10.7%	₹-0 Cr	7.1%	53.1%	94.7%	27
Encode Packaging India LtdENCODEENCODE	₹4 Cr	₹4 Cr	₹4 Cr	₹0 Cr	—	₹0 Cr	—	0%	0%	—

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Financials

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

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	343	274	309	341	322	294	440
COGS	129	93	118	136	110	96	210
Gross profit	214	181	191	204	212	198	229
	141	105	114	109	130	130	143
	73	76	77	95	82	68	86
OPM %	21.2%	27.7%	24.8%	27.9%	25.4%	23.3%	19.6%
Depreciation	8	7	6	6	7	7	7
Interest	0	0	0	0	0	0	0
	13	49	48	45	166	38	16
Profit before tax	77	117	118	134	241	99	96
Tax	16	27	28	32	52	22	30
Tax %	20.6%	23.2%	24%	24.1%	21.7%	21.9%	31.1%
	61	90	90	101	189	77	66
PAT margin %	17.8%	32.9%	29.1%	29.8%	58.6%	26.2%	15%
EPS (₹)	80.7	118.9	118.7	134	249.1	101.9	87
EPS adjusted (₹)	—	118.9	118.7	134	249.1	101.9	87
	6.2%	4.2%	4.2%	3.7%	2%	4.9%	5.7%
Annual report	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	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	8	8	8	8	8	8
Reserves	881	943	1,047	1,254	1,346	1,420
	0	0	0	0	0	0
	75	64	62	87	89	99
Total equity & liabilities	964	1,014	1,117	1,349	1,442	1,527
	65	59	64	61	58	58
CWIP	0	0	0	1	0	0
Investments	567	563	713	1,026	1,185	1,051
	332	392	340	261	199	418
Total assets	964	1,014	1,117	1,349	1,442	1,527

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 %
Media	300.53	67.59	162.57	60.49	102.08	66.21
Trade in Commodities	138.8	18.19

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	62.3%	66%	61.8%	60%	65.7%	67.4%	52.1%
EBITDA margin %	20.6%	27.7%	24.8%	27.9%	25.4%	23.3%	19.6%
EBIT margin %	18.3%	25.2%	22.7%	26.1%	23.3%	20.8%	18%
PAT margin %	17.8%	32.9%	29.1%	29.8%	58.6%	26.2%	15%
Working capital
Receivable days	—	68	50	43	55	57	36
Inventory days	—	125	132	47	61	109	441
Payable days	—	87	27	22	33	48	41
NWC days	—	106	155	69	83	119	437
Leverage
Current ratio	—	6.86	7.96	10.61	17.58	19.38	15.82
Debt to EBITDA	—	0	0	0	0	0	0
Debt to equity	—	0	0	0	0	0	0
Interest coverage	177.2	252.5	580.3	878.2	926.6	492	574.9
Asset turnover	—	0.28	0.3	0.3	0.24	0.2	0.29
Return ratios
Return on assets %	—	9.3%	8.9%	9.1%	14%	5.3%	4.3%
Return on capital employed %	—	13%	12.6%	13.1%	20.4%	7.3%	6.8%
Return on equity %	—	10.1%	9.4%	9.6%	14.9%	5.7%	4.6%

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
	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%
	0%	0%	0.01%	0.05%	0.16%	0.15%	0.14%	0.1%	0.09%	0.09%	0.09%	0.09%
	0%	0%	0%	0%	0%	0%	0.01%	0.01%	0.01%	0.01%	0.01%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	25.19%	25.19%	25.18%	25.14%	25.03%	25.04%	25.04%	25.08%	25.09%	25.09%	25.09%	25.1%
No. of shareholders	—	—	—	—	—	—	—	—	7,404	7,177	6,980	6,840

Promoter holding up 0 percentage points since Sep 2023.

Mr. Falgunbhai Chimanbhai PatelExecutive Director-Chairperson related to Promoter-MD
Mr. Parthiv Falgunbhai PatelExecutive Director-MD
Mrs. Pannaben Falgunbhai PatelNon-Executive - Non Independent Director
Mr. Rahoul Rajivkumar ShahExecutive Director
Ms. Gauri Surendra TrivediNon-Executive - Independent Director
Mr. Choksey Sudhin BhagwandasNon-Executive - Independent Director
Mr. Keyur Dhanvantlal GandhiNon-Executive - Independent Director
Mr. Bijal Hemant ChhatrapatiNon-Executive - Independent Director

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 The Sandesh 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

17 announcementsExport CSV

30 Sept 2026, 3:55 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	62.3%	66%	61.8%	60%	65.7%	67.4%	52.1%
EBITDA margin %	20.6%	27.7%	24.8%	27.9%	25.4%	23.3%	19.6%
EBIT margin %	18.3%	25.2%	22.7%	26.1%	23.3%	20.8%	18%
PAT margin %	17.8%	32.9%	29.1%	29.8%	58.6%	26.2%	15%
Working capital
Receivable days	—	68	50	43	55	57	36
Inventory days	—	125	132	47	61	109	441
Payable days	—	87	27	22	33	48	41
NWC days	—	106	155	69	83	119	437
Leverage
Current ratio	—	6.86	7.96	10.61	17.58	19.38	15.82
Debt to EBITDA	—	0	0	0	0	0	0
Debt to equity	—	0	0	0	0	0	0
Interest coverage	177.2	252.5	580.3	878.2	926.6	492	574.9
Asset turnover	—	0.28	0.3	0.3	0.24	0.2	0.29
Return ratios
Return on assets %	—	9.3%	8.9%	9.1%	14%	5.3%	4.3%
Return on capital employed %	—	13%	12.6%	13.1%	20.4%	7.3%	6.8%
Return on equity %	—	10.1%	9.4%	9.6%	14.9%	5.7%	4.6%

Date	Category	Subject	Filing
30 Sept 2026, 3:55 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
17 Sept 2026, 4:48 pm	Company Update Resignation of Company Secretary / Compliance Officer	Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer	PDF
16 Sept 2026, 5:34 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
15 Sept 2026, 6:07 pm	Corp. Action Dividend Updates	Announcement under Regulation 30 (LODR)-Dividend Updates	PDF
15 Sept 2026, 6:05 pm	Corp. Action Date of payment of Dividend	Announcement under Regulation 30 (LODR)-Date of payment of Dividend	PDF
15 Sept 2026, 6:03 pm	Company Update General	83Rd Annual General Meeting Of The Company	PDF
15 Sept 2026, 5:59 pm	Company Update Change in Directorate	Announcement under Regulation 30 (LODR)-Change in Directorate	PDF
15 Sept 2026, 5:57 pm	AGM/EGM AGM	Shareholders Meeting - 83Rd Annual General Meeting	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	52	22	96	154	67	-145
	-44	33	-112	-130	-109	148
	-4	-4	-4	-4	-2	-2
Net cash flow	4	51	-20	20	-43	1
Free cash flow	51	22	93	149	64	-151
CFO / Operating profit %	68.1%	29.2%	101%	188.2%	98.5%	-168.3%

The Sandesh 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

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

21

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Finance · revenue

The Sandesh Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

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

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Dividends21

Board meetings1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Finance · revenue

21

1