Sika Interplant Systems Limited (SIKA)

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Sika Interplant Systems Limited (SIKA) · mywealthgrid

About

Sika Interplant Systems is a mid-cap Aerospace & Defense company (market cap ₹2,329 Cr) within India's Industrials sector. Quarterly revenue ranges ₹41–68 Cr with operating margins at 19.52% average. The company has scaled 3x since 2021, demonstrating sustained profitability with ROE of 21.93%.

Face value: ₹2

Market cap

₹2,159 Cr

P/E

86.7×

P/B

17.4×

Dividend yield

0.3%

ROE

21.9%

ROCE

28.8%

Debt / equity

OPM

19.5%

EPS (TTM)

₹11.7

Book value

₹58.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

High valuation multiple of PE 93.59 suggests expensive pricing relative to current earnings; researchers should verify if growth expectations or strategic value justifies the premium
Revenue decline of 39% from ₹68.01 Cr (Jun 2025) to ₹41.33 Cr (Mar 2026) over nine months; verify whether this reflects seasonality, order cyclicality, or demand weakness
Thin institutional participation: FII at 3.25% and DII at 0.04% concentrate ownership with promoters (71.72%) and retail; verify floating stock liquidity and analyst coverage
Aerospace & Defense sector depends on lumpy government contracts; researchers should verify order book depth, customer concentration, and procurement visibility

Generated analysis · source review pending

Growth drivers

Revenue scaled from ₹22.4 Cr (Mar 2021) to ₹68 Cr (Jun 2025); verify if recent nine-month decline is cyclical seasonality or signals structural order weakness
Operating margins at 19.52% average (recent peak 25.26% in Mar 2026 despite lower revenue) suggest favorable product mix or one-time gains; researchers should verify gross-margin stability and cost structure
ROE of 21.93% enables capital reinvestment; verify capex plans, R&D allocation, and management's strategy for returning to revenue growth
Aerospace & Defense sector is India's strategic manufacturing focus area; researchers should verify government defense ministry procurement pipeline and export order visibility

Generated analysis · source review pending

556 historical price candles were omitted because the exchange source has not been verified.

₹1,018.2-0.7%1Y

Quick read

rule-based

Pros

+High return on capital employed of 22.8%
+Profit CAGR of 30.4% over the last 5 years
+Revenue CAGR of 18.7% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 130×
+Dividend payout of 29.8% of profit
+High promoter holding of 71.7% with no pledge

Cons

−Expensive at 86.7× trailing earnings
−Trading at 17.4× book value

Research score

Structured signal from quality, growth, valuation and momentum.

46/100

Business quality: 79
Growth

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.

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Sigma Advanced Systems LimitedSIGMAADVSIGMAADV	₹18,975 Cr	₹19,275 Cr	₹843 Cr	₹121 Cr	9.7%	₹163 Cr	54.5%	73.1%	87.6%	271
Aequs LimitedAEQUSAEQUS	₹18,448 Cr	₹18,851 Cr	₹1,230 Cr	₹89 Cr	7.2%	₹-113 Cr	-9.2%	1.1%	-10.3%	259
Astra Microwave Products LimitedASTRAMICROASTRAMICRO	₹15,417 Cr	₹15,704 Cr	₹1,140 Cr	₹326 Cr	28.7%	₹189 Cr	16.6%	23.1%	16%	537
Apollo Micro Systems LimitedAPOLLOAPOLLO	₹14,558 Cr	₹15,091 Cr	₹1,022 Cr	₹231 Cr	24.1%	₹122 Cr	11.9%	18.2%	11.8%	443
Zen Technologies LimitedZENTECZENTEC	₹14,232 Cr	₹14,236 Cr	₹671 Cr	₹221 Cr	36%	₹186 Cr	31.7%	16.3%	10.8%	425
Paras Defence And Space Technologies LimitedPARASPARAS	₹10,285 Cr	₹10,311 Cr	₹511 Cr	₹130 Cr	25.3%	₹94 Cr	18.8%	16.9%	12.9%	435
Axiscades Technologies LimitedAXISCADESAXISCADES	₹9,806 Cr	₹10,082 Cr	₹1,099 Cr	₹152 Cr	15.3%	₹36 Cr	6.2%	17.7%	10.4%	31
Unimech Aerospace And Manufacturing LimitedUNIMECHUNIMECH	₹9,025 Cr	₹9,137 Cr	₹285 Cr	₹95 Cr	31.2%	₹72 Cr	26.3%	12.8%	9%	137
Mishra Dhatu Nigam LimitedMIDHANIMIDHANI	₹8,121 Cr	₹8,405 Cr	₹1,278 Cr	₹240 Cr	19.7%	₹135 Cr	10.9%	9.1%	8.9%	1,022

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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 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	46	63	80	98	60	106	148
COGS	31	44	56	65	36	71	102
Gross profit	15	19	24	33	24	35	46
	9	10	10	13	13	15	17
Operating profit (EBITDA)	6	9	14	20	10	20	29
OPM %	13%	13.7%	18.1%	20.1%	17%	18.8%	19.5%
Depreciation	1	1	1	1	1	1	1
Interest	0	0	0	0	0	0	0
	1	1	3	3	3	7	6
Profit before tax	6	9	16	22	12	25	33
Tax	2	2	4	6	3	6	8
Tax %	28.8%	23.4%	24.7%	25.7%	27.7%	23.7%	23.4%
	4	7	12	17	9	19	25
PAT margin %	9.2%	11.2%	14.9%	16.8%	14.7%	18.3%	17.2%
EPS (₹)	10	15.6	27.9	39	20.7	9.1	12
EPS adjusted (₹)	2	3.1	5.7	7.3	4.3	9.2	11.7
	8%	7.1%	14.3%	10.3%	19.3%	109.5%	20.1%
Annual report	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

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity capital	4	4	4	4	4	4	4	4
Reserves	—	42	48	60	74	81	99	120
Minority interest	—	1	1	1	0	0	0	—
	—	1	1	0	0	0	0	0
	—	16	16	16	20	18	19	29
Total equity & liabilities	—	64	70	81	98	103	122	153
	37	37	37	37	36	36	43	45
CWIP	—	0	0	0	0	0	0	0
Investments	—	8	19	2	9	20	30	38
	—	18	14	42	53	48	48	70
Total assets	—	64	70	81	98	103	122	153

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	31.9%	30.1%	30.1%	33.6%	39.3%	32.8%	30.9%
EBITDA margin %	13%	13.7%	18.1%	20.1%	17%	18.8%	19.5%
EBIT margin %	11.3%	12.4%	17%	19.2%	15.7%	17.9%	18.8%
PAT margin %	9.2%	11.2%	14.9%	16.8%	14.7%	18.3%	17.2%
Working capital
Receivable days	81	9	25	25	76	37	80
Inventory days	35	55	21	38	98	26	28
Payable days	70	22	41	37	87	44	70
NWC days	46	43	4	26	87	20	39
Leverage
Current ratio	1.24	0.91	3.01	3.26	3.2	2.94	2.81
Debt to EBITDA	0.1	0.06	0.01	0.01	0	0	0
Debt to equity	0.01	0.01	0	0	0	0	0
Interest coverage	30.5	92.5	44.7	319	44.4	122	130
Asset turnover	0.71	0.9	0.99	1	0.58	0.87	0.97
Return ratios
Return on assets %	6.6%	10%	14.7%	16.8%	8.5%	15.9%	16.6%
Return on capital employed %	12.3%	17.7%	26.5%	30%	14.6%	25%	28.8%
Return on equity %	9%	13.3%	18.4%	21.2%	10.3%	18.8%	20.4%

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
	71.72%	71.72%	71.72%	71.72%	71.72%	71.72%	71.72%	71.72%	71.72%	71.72%	71.72%	71.72%
	2.42%	2.6%	2.64%	2.77%	2.77%	2.77%	3.11%	3.11%	3.14%	3.14%	3.21%	3.25%
	0%	0%	0%	0%	0%	0%	0%	0.01%	0.01%	0.04%	0.04%	0.04%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	25.86%	25.68%	25.64%	25.51%	25.51%	25.51%	25.17%	25.16%	25.13%	25.1%	25.03%	24.99%
No. of shareholders	—	—	—	—	—	—	—	—	26,742	26,171	25,730	26,959

Promoter holding up 0 percentage points since Sep 2023.

Mr. RAJEEV SIKKAExecutive Director-Chairperson related to Promoter
Mr. KUNAL SIKKAExecutive Director
Mrs. ANURADHA SIKKANon-Executive - Non Independent Director
Mr. GARIMELLA VENKATA SATYA BHASKARNon-Executive - Independent Director
Mr. SUSHIL KHANNANon-Executive - Independent Director
Mr. PARASURAMACHETTY JAYAPALNon-Executive - Independent Director
Mr. Sathish K SChief Financial Officer
Mr. Suraj Kumar SahuCompany 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 Sika Interplant Systems 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

15 announcementsExport CSV

10 Sept 2026, 4:52 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	31.9%	30.1%	30.1%	33.6%	39.3%	32.8%	30.9%
EBITDA margin %	13%	13.7%	18.1%	20.1%	17%	18.8%	19.5%
EBIT margin %	11.3%	12.4%	17%	19.2%	15.7%	17.9%	18.8%
PAT margin %	9.2%	11.2%	14.9%	16.8%	14.7%	18.3%	17.2%
Working capital
Receivable days	81	9	25	25	76	37	80
Inventory days	35	55	21	38	98	26	28
Payable days	70	22	41	37	87	44	70
NWC days	46	43	4	26	87	20	39
Leverage
Current ratio	1.24	0.91	3.01	3.26	3.2	2.94	2.81
Debt to EBITDA	0.1	0.06	0.01	0.01	0	0	0
Debt to equity	0.01	0.01	0	0	0	0	0
Interest coverage	30.5	92.5	44.7	319	44.4	122	130
Asset turnover	0.71	0.9	0.99	1	0.58	0.87	0.97
Return ratios
Return on assets %	6.6%	10%	14.7%	16.8%	8.5%	15.9%	16.6%
Return on capital employed %	12.3%	17.7%	26.5%	30%	14.6%	25%	28.8%
Return on equity %	9%	13.3%	18.4%	21.2%	10.3%	18.8%	20.4%

Date	Category	Subject	Filing
10 Sept 2026, 4:52 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
7 Sept 2026, 2:25 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF
18 Aug 2026, 9:52 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
14 Aug 2026, 5:55 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI (LODR)	PDF
14 Aug 2026, 5:53 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Results For The Quarter Ended June 2026	PDF
14 Aug 2026, 5:49 pm	Result Financial Results	Result For The Quarter Ended June 2026	PDF
14 Aug 2026, 1:29 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF
12 Aug 2026, 8:08 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	7	11	8	16	-3	20	8
	-4	-10	-8	-14	5	-18	-3
	-1	-1	-1	-2	-2	-2	-4
Net cash flow	2	0	-1	0	-0	-0	0
Free cash flow	6	11	8	16	-4	12	4
CFO / Operating profit %	123.5%	131.2%	57%	80%	-29.7%	99.2%	26.4%

Sika Interplant Systems Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

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

15

1

1

Compounded sales growth

Compounded profit growth

Return on equity

Sika Interplant Systems Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

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

Dividends15

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

15

1

1