508807
IST financials
- Market cap
- ₹772 Cr
What IST does
IST Limited manufactures high-precision engineering components and assemblies supplied to the automobile and consumer goods industries from its production plant at Dharuhera, Haryana. The plant is ISO/TS 16949:2009 and ISO 14001:2004 certified, and the company also holds ISO 9001:2008 certification, with products made using in-house know-how. Beyond core manufacturing, IST wholly owns Gurgaon Infospace Limited, which develops and operates an IT/ITES SEZ, and holds a 30.80% stake in IST Steel and Power Limited, which trades in raw materials and consumables.
Segments
- Precision engineering components & assemblies
- IT/ITES SEZ development
- Raw material & consumables trading
- Manufacturing plants
- 1 (Dharuhera, Haryana)
- Rooftop solar power capacity
- 550 kW (installed at manufacturing facility, FY25)
- Quality certifications
- ISO/TS 16949:2009, ISO 14001:2004, ISO 9001:2008
- Subsidiary
- Gurgaon Infospace Limited (wholly owned; develops/operates IT/ITES SEZ)
- Associate stake
- 30.80% in IST Steel and Power Limited (raw material & consumables trading)
Quarterly results
Q1 FY27: revenue up 20.7%, net profit up 15.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 31 | 27 | 28 | 29 | 29 −6% | 34 +26% | 34 +21% | 35 +21% |
| EBITDA | 19 | 20 | 20 | 21 | 20 +5% | 20 +0% | 13 −35% | 16 −24% |
| Net profit | 47 | 23 | 17 | 72 | 29 −38% | 62 +170% | -10 −159% | 83 +15% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −25.6% 1Y
1Y: ₹892 on 14 Aug 2025 → ₹664. High ₹892 (14 Aug 2025), low ₹605 (2 Apr 2026).
Financials, as filed
Revenue grew 1.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 58.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹121 Cr | ₹110 Cr | ₹115 Cr | ₹126 Cr |
| Operating profit | ₹75 Cr | ₹82 Cr | ₹82 Cr | ₹74 Cr |
| Operating margin | 61.6% | 74.5% | 71.3% | 58.7% |
| Interest | ₹5 Cr | ₹4 Cr | ₹7 Cr | ₹4 Cr |
| Depreciation | ₹4 Cr | ₹4 Cr | ₹4 Cr | ₹5 Cr |
| Net profit | ₹82 Cr | ₹126 Cr | ₹140 Cr | ₹153 Cr |
| Net margin | 67.6% | 114.5% | 121.7% | 121.4% |
| Cash from operations | ₹114 Cr | ₹5 Cr | ₹42 Cr | ₹85 Cr |
| Free cash flow | ₹112 Cr | ₹2 Cr | ₹39 Cr | ₹82 Cr |
| ROCE | 10.0% | 14.0% | 13.0% | 13.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹6 Cr | ₹6 Cr | ₹6 Cr | ₹6 Cr | ₹6 Cr | ₹6 Cr |
| Reserves | ₹918 Cr | ₹1.0k Cr | ₹1.1k Cr | ₹1.3k Cr | ₹1.6k Cr | ₹1.7k Cr |
| Borrowings | ₹5 Cr | ₹14 Cr | ₹16 Cr | ₹5 Cr | ₹5 Cr | ₹4 Cr |
| Other liabilities | ₹47 Cr | ₹48 Cr | ₹58 Cr | ₹68 Cr | ₹106 Cr | ₹126 Cr |
| Total liabilities | ₹975 Cr | ₹1.1k Cr | ₹1.2k Cr | ₹1.4k Cr | ₹1.7k Cr | ₹1.8k Cr |
| Fixed assets | ₹253 Cr | ₹250 Cr | ₹236 Cr | ₹254 Cr | ₹275 Cr | ₹238 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹608 Cr | ₹701 Cr | ₹832 Cr | ₹990 Cr | ₹1.3k Cr | ₹1.4k Cr |
| Other assets | ₹114 Cr | ₹144 Cr | ₹116 Cr | ₹141 Cr | ₹160 Cr | ₹136 Cr |
| Total assets | ₹975 Cr | ₹1.1k Cr | ₹1.2k Cr | ₹1.4k Cr | ₹1.7k Cr | ₹1.8k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count shrank 41% to 6,703.
- Promoters
- 75.0%
- DIIs
- 1.1%
- Public
- 23.9%
Since Jun 2025
- DIIs +0.01 pp
- Public −0.01 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Over this window DIIs went from 0.0% to 1.1% — +1.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 75.0%, Public 25.0%.Dec '23: Promoters 75.0%, Public 25.0%.Mar '24: Promoters 75.0%, Public 25.0%.Jun '24: Promoters 75.0%, Public 25.0%.Sep '24: Promoters 75.0%, DIIs 1.1%, Public 23.9%.Dec '24: Promoters 75.0%, DIIs 1.1%, Public 23.9%.Mar '25: Promoters 75.0%, DIIs 1.1%, Public 23.9%.Jun '25: Promoters 75.0%, DIIs 1.1%, Public 23.9%.Sep '25: Promoters 75.0%, DIIs 1.1%, Public 23.9%.Dec '25: Promoters 75.0%, DIIs 1.1%, Public 23.9%.Mar '26: Promoters 75.0%, DIIs 1.1%, Public 23.9%.Jun '26: Promoters 75.0%, DIIs 1.1%, Public 23.9%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Ist Limited-Suspense Escrow Demat Account And Ist Limited Unclaimed Suspense Account newly disclosed 6.52% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of IST above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Gupta International Investment Co. Limited | 49.95% | unchanged |
| Delux Associates Llp | 10.61% | unchanged |
| Ist Limited-Suspense Escrow Demat Account And Ist Limited Unclaimed Suspense Account | 6.52% | newly disclosed |
| Eastern India Power And Mining Co. Private Limited | 6.47% | unchanged |
| Saubhagya Realty And Trade Llp | 4.95% | unchanged |
| Edge Infratech Llp | 4.31% | unchanged |
| Ist Technology Infrastructure Private Limited | 4.14% | unchanged |
| Smridhi Realty And Trade Llp | 2.88% | unchanged |
| Hb Stockholdings Limited NBFC / DFI | 1.10% | unchanged |
| Gpc Technology Limited | 0.93% | unchanged |
| Lubetec India Private Limited | 0.00% | unchanged |
| Galaxy International Hotesl Llp | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
Growth trapTo justify its price of ₹664, this stock must grow earnings at 14% every year for 7 years. Our analysis caps realistic growth at ~-10%. At that growth it is worth ₹176 — downside of 73%.
- Growth the price implies
- 14.2% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -10.3% a year
- net profit, FY23–FY26 · EPS -10.2%
- The gap
- 0.2 pp
- -73% downside if it only repeats history
Learn to analyse IST
Guides on how to read this kind of business and the numbers that matter.