SGMART
SG Mart share price & financials
- Price
- ₹635.85
- Market cap
- ₹8.3k Cr
- Sector
- Metals & Mining
- Calls analysed
- 2
SG Mart Limited Q1 FY27
What went well
- Sustained revenue and profitability for the second consecutive quarter, proving the business model's effectiveness.
- Achieved an annualized ROCE of 23% with a strong net cash position of INR 690 crores.
- Service center volume grew to 160,000 tons in Q1 FY27 from 120,000 tons in Q1 FY26, indicating robust growth.
What to watch
- Geopolitical turbulence and commodity price volatility (e.g., steel, oil) pose a risk to sales and overall business environment, as noted by management.
- While absolute EBITDA is expected to grow, EBITDA percentage may fluctuate quarter-on-quarter due to changes in product mix, particularly if lower-margin service center business picks up significantly.
What SG Mart Limited does
SG Mart is a steel products company organized into four operating verticals: bulk B2B steel trading, a network of steel service centers, renewable-structures (solar mounting) fabrication using specialized coated steel, and a steel-profiles business. The service centers process and distribute steel to customers, while the profiles business was launched using a licensed APL Apollo brand and the group's distribution network. The company also runs service-center operations in Dubai (UAE) alongside its India operations.
Segments
- B2B Steel Trading
- Service Centers
- Renewable Structures
- Steel Profiles
- Business verticals
- 4 (B2B steel trading, service centers, renewable structures, steel profiles)
- Group/brand affiliation
- Steel-profiles business operates under licensed APL Apollo brand and group distribution network
- International operations
- Service center operations in Dubai, UAE, alongside India
Guidance record · Q1 FY27
what the last two calls moved 22 tracked 0 delivered 1 missed 21 open- Puff Panel Margins went quiet said Q4 FY26 Promised: 5% to 8% Q1 FY27: The specific margin for the puff panel business was not discussed in the Q1 FY27 earnings call.
- Renewable Structures Annual Volume at risk said Q4 FY26 Promised: 130,000 to 150,000 tons Q1 FY27: Achieved 11,000 tons in Q1. This annualizes to 44,000 tons, significantly below the required run-rate for the full-year target of 130,000-150,000 tons, placing the promise at risk.
- Annualized EBITDA on track said Q4 FY26 Promised: INR 300-350 crores Q1 FY27: Management reiterated the FY27 EBITDA target of 'around INR 300 crores', citing momentum from Q1 performance, assuming no major macro disruptions.
All 22 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 14.4%, net profit up 43.8% 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 | 1,793 | 1,335 | 1,595 | 1,144 | 1,704 −5% | 1,644 +23% | 1,823 +14% | 1,309 +14% |
| EBITDA | 15 | 22 | 37 | 36 | 28 +87% | 17 −23% | 56 +51% | 59 +64% |
| Net profit | 16 | 28 | 33 | 32 | 27 +69% | 11 −61% | 41 +24% | 46 +44% |
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 +109.7% 1Y
1Y: ₹358.1 on 12 Sept 2025 → ₹750.95. High ₹842.3 (26 Aug 2026), low ₹319.35 (21 Jan 2026).
How the price took the results
close before → close after
- Q1 FY27
- +6.6%
- 20 Jul
- Q4 FY26
- +2.1%
- 7 May
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 53.4% a year over 2 years, FY24 to FY26. Operating margin held at 2.2%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹2.7k Cr | ₹5.9k Cr | ₹6.3k Cr |
| Operating profit | ₹62 Cr | ₹99 Cr | ₹137 Cr |
| Operating margin | 2.3% | 1.7% | 2.2% |
| Interest | ₹11 Cr | ₹45 Cr | ₹51 Cr |
| Depreciation | ₹0 Cr | ₹1 Cr | ₹12 Cr |
| Net profit | ₹61 Cr | ₹103 Cr | ₹111 Cr |
| Net margin | 2.3% | 1.8% | 1.8% |
| ROCE | — | 11.0% | 10.0% |
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 | FY17 | FY18 | FY19 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹11 Cr | ₹13 Cr | ₹13 Cr |
| Reserves | ₹10 Cr | ₹10 Cr | ₹11 Cr | ₹1.1k Cr | ₹1.5k Cr | ₹1.6k Cr |
| Borrowings | ₹15 Cr | ₹11 Cr | ₹0 Cr | ₹182 Cr | ₹266 Cr | ₹268 Cr |
| Other liabilities | ₹4 Cr | ₹4 Cr | ₹0 Cr | ₹218 Cr | ₹680 Cr | ₹385 Cr |
| Total liabilities | ₹30 Cr | ₹26 Cr | ₹12 Cr | ₹1.5k Cr | ₹2.5k Cr | ₹2.3k Cr |
| Fixed assets | ₹24 Cr | ₹23 Cr | ₹1 Cr | ₹39 Cr | ₹316 Cr | ₹385 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹17 Cr | ₹5 Cr | ₹20 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹3 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹6 Cr | ₹4 Cr | ₹8 Cr | ₹1.4k Cr | ₹2.2k Cr | ₹1.8k Cr |
| Total assets | ₹30 Cr | ₹26 Cr | ₹12 Cr | ₹1.5k Cr | ₹2.5k Cr | ₹2.3k 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
Since Jun 2025, promoters added +21.63 pp while the public trimmed −21.04 pp. The shareholder count shrank 35% to 20,309.
- Promoters
- 57.9%
- FIIs
- 1.9%
- DIIs
- 4.1%
- Public
- 36.1%
Since Jun 2025
- Promoters +21.63 pp
- Public −21.04 pp
- DIIs −1.59 pp
How it drifted, 12 quarters
Over this window promoters fell from 75.0% to 57.9% — −17.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 75.0%, Public 25.0%.Dec '23: Promoters 53.8%, FIIs 0.0%, DIIs 4.2%, Public 42.0%.Mar '24: Promoters 52.7%, FIIs 3.6%, DIIs 0.5%, Public 43.1%.Jun '24: Promoters 41.0%, FIIs 5.6%, DIIs 0.5%, Public 52.9%.Sep '24: Promoters 40.8%, FIIs 5.3%, DIIs 1.6%, Public 52.3%.Dec '24: Promoters 40.7%, FIIs 6.2%, DIIs 1.6%, Public 51.5%.Mar '25: Promoters 40.7%, FIIs 6.5%, DIIs 1.1%, Public 51.8%.Jun '25: Promoters 36.3%, FIIs 0.9%, DIIs 5.7%, Public 57.1%.Sep '25: Promoters 36.3%, FIIs 1.2%, DIIs 4.7%, Public 57.8%.Dec '25: Promoters 36.3%, FIIs 1.3%, DIIs 5.0%, Public 57.5%.Mar '26: Promoters 36.3%, FIIs 1.9%, DIIs 5.3%, Public 56.6%.Jun '26: Promoters 57.9%, FIIs 1.9%, DIIs 4.1%, Public 36.1%.
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.
- Sanjay Gupta newly disclosed 35.07% held
- Hr Global Manufacturing Private Limited newly disclosed 1.59% held
- Vinay Gupta newly disclosed 0.32% held
- Sameer Gupta newly disclosed 0.00% held
The same filing shows 2 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 SG Mart Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Sanjay Gupta | 35.07% | newly disclosed |
| Rohan Gupta | 8.89% | unchanged |
| Neera Gupta | 8.85% | unchanged |
| S Gupta Holding Private Limited | 3.58% | unchanged |
| Kitara Piin 1103 | 3.21% | unchanged |
| Hr Global Manufacturing Private Limited | 1.59% | newly disclosed |
| Amicorp Capital (Mauritius) Limited FPI fund | 1.51% | unchanged |
| Rajiv Kumar | 1.35% | unchanged |
| Dhruv Gupta | 1.19% | −26.03 pp |
| Cybage Software Private Limited | 1.06% | unchanged |
| Vinay Gupta | 0.32% | newly disclosed |
| Meenakshi Gupta | 0.00% | −9.05 pp |
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.
All earnings calls (2)
Read the Q1 FY27 call →Learn to analyse SG Mart Limited
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