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Standard Engineering Technology Ltd (SETL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544333 NSE: SETL Engineering - Industrial Equipments | Small Cap | Standard Engg. Tech. Share Price
₹468.10 22.25 (4.99%)
As on 11-Sep'26 16:01
Standard Engineering Technology Ltd (SETL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544333 NSE: SETL Engineering - Industrial Equipments | Small Cap | Standard Engg. Tech. Share Price
₹468.10 22.25 (4.99%)
As on 11-Sep'26 16:01
Key Metrics
Valuation Multiples
Market Cap
₹8,894 Cr.
Current Price
₹468.1
52-Week Low / High
₹105 / 446
TTM EPS
₹4.3
TTM Sales
₹849 Cr.
Book Value per Share
₹40.9
P/E Ratio
104.00
Lower than its 5-year historical median
Industry PE
58.3
Price to Book (P/B)
10.91
Higher than its 5-year historical median
Price to Sales (P/S)
10.48
Lower than its 5-year historical median
EV/EBITDA
59.95
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
11.10%
Underperforms industry median
Return on Capital Employed (ROCE)
15.32%
In line with industry median
Return on Assets (ROA)
7.51%
Operating Profit Margin
15.4%
Net Profit Margin
10.73%
Gross Profit Margin
16.4%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
31.77%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
11.47%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
20.96%
Asset Quality
Promoter Holding
60.47%
Pledged shares (%) of Promoter's holding (%)
21.38%
Reserves
₹616 Cr.
Equity
₹199.5 Cr.
Face Value
₹10
All Time Low / High
₹104.75 / 424.65
Check Before You Invest
Quality
Not GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Strong
Is Standard Engineering Technology Ltd a good quality company?
Standard Engineering Technology Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Standard Engineering Technology Ltd performance compare with that of its Peers?
Revenue growth of Standard Engineering Technology Ltd vs industry peers?
Standard Engineering Technology Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 6.62%, indicating slower growth and losing its market share.
Promoter shareholding and pledge status of Standard Engineering Technology Ltd?
Promoters hold 60.47% of the Standard Engineering Technology Ltd, with 21.38% of their stake pledged, indicating high pledge risk.
Stock return of Standard Engineering Technology Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of 137.85% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Standard Engineering Technology Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|
| ROCE % ⓘ | 28.9% | 28.3% | 15% | 8.6% | 8.8% | - |
| Value Creation Index ⓘ | 1.1 | 1.1 | 0.1 | -0.4 | -0.4 | - |
Growth Parameters ⓘ |
||||||
| Sales ⓘ | 153 | 210 | 209 | 196 | 259 | 293 |
| Sales YoY Gr. | - | 37.3% | -0.1% | -6.3% | 31.8% | - |
| Adj EPS ⓘ | 1 | 1.3 | 1.4 | 1.4 | 2.1 | 2.1 |
| YoY Gr. | - | 23.3% | 11.8% | 1.4% | 43.1% | - |
| BVPS (₹) ⓘ | 4 | 7.2 | 18.4 | 29.9 | 32 | 32.8 |
| Adj Net Profit ⓘ | 15.8 | 20.1 | 25.8 | 28.8 | 41.1 | 43 |
| Cash Flow from Ops. ⓘ | 1 | 1.8 | -12.2 | 7.4 | 18.3 | - |
| Debt/CF from Ops. ⓘ | 24 | 13.5 | -4.1 | 3.3 | 1.4 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 7.2% | 31.8% | ||||
| Adj EPS ⓘ | NA | NA | 17.5% | 43.1% | ||||
| BVPSⓘ | NA | NA | 64.2% | 7.1% | ||||
| Share Price | - | - | - | 149.3% | ||||
Key Financial Parameters ⓘ
| Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 25.9 | 23 | 11.5 | 6.2 | 6.7 | 6.6 |
| Op. Profit Mgn % ⓘ | 17.6 | 15.3 | 17.5 | 15.3 | 12.6 | 12.1 |
| Net Profit Mgn % ⓘ | 10.3 | 9.6 | 12.3 | 14.7 | 15.9 | 14.6 |
| Debt to Equity ⓘ | 0.4 | 0.2 | 0.2 | 0 | 0 | - |
| Working Cap Days ⓘ | 0 | 229 | 380 | 682 | 713 | 333 |
| Cash Conv. Cycle ⓘ | 0 | 97 | 127 | 186 | 176 | 236 |
Valuation of Standard Engg. Tech. - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 13.97 | 21.38 | 21.38 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|
| Sales | 240 | 498 | 544 | 614 | 774 |
| Operating Expenses ⓘ + | 200 | 412 | 449 | 507 | 655 |
| Operating Profit ⓘ | 40 | 86 | 95 | 107 | 119 |
| Operating Profit Margin (%) | 16.8% | 17.2% | 17.5% | 17.4% | 15.4% |
| Other Income ⓘ + | 1 | 2 | 6 | 13 | 19 |
| Interest ⓘ | 4 | 9 | 12 | 15 | 11 |
| Depreciation ⓘ | 4 | 8 | 9 | 11 | 16 |
| Profit Before Tax ⓘ | 34 | 72 | 80 | 94 | 111 |
| Tax ⓘ | 9 | 18 | 20 | 25 | 28 |
| Profit After Tax | 25 | 53 | 60 | 69 | 83 |
| PAT Margin (%) | 10.5% | 10.7% | 11.0% | 11.2% | 10.7% |
| Adjusted EPS (₹) | 1.6 | 3.4 | 3.2 | 3.2 | 4.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 69 | 156 | 407 | 707 | 789 | ||||||
| Debt + | 45 | 56 | 111 | 39 | 57 | ||||||
| Minority Interest | 0 | 0 | 2 | 6 | 9 | ||||||
| Trade Payables | 62 | 75 | 89 | 108 | 195 | ||||||
| Others Liabilities ⓘ | 129 | 76 | 57 | 99 | 205 | ||||||
| Total Liabilities ⓘ | 305 | 362 | 665 | 958 | 1,254 | ||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 52 | 75 | 96 | 136 | 183 | ||||||
| CWIP ⓘ | 1 | 3 | 4 | 8 | 27 | ||||||
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | ||||||
| Inventories | 126 | 143 | 225 | 279 | 438 | ||||||
| Trade Receivables | 82 | 91 | 155 | 214 | 256 | ||||||
| Cash Equivalents | 0 | 5 | 52 | 122 | 115 | ||||||
| Others Assets ⓘ | 44 | 44 | 133 | 199 | 236 | ||||||
| Total Assets ⓘ | 305 | 362 | 665 | 958 | 1,254 | ||||||
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | -7 | 2 | -65 | 5 | 45 |
| Cash Flow From Investing Activity ⓘ + | -30 | -29 | -157 | -160 | -38 |
| Cash Flow From Financing Activity ⓘ + | 37 | 33 | 232 | 141 | -2 |
| Net Cash Flow ⓘ | 0 | 5 | 10 | -14 | 6 |
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 36.46 | 47.56 | 21.32 | 12.32 | 11.1 | |||||
| ROCE (%) | 31.79 | 48.25 | 24.86 | 17.15 | 15.32 | |||||
| Asset Turnover Ratio | 0.79 | 1.49 | 1.06 | 0.76 | 0.7 | |||||
| PAT to CFO Conversion(x) | -0.28 | 0.04 | -1.08 | 0.07 | 0.54 | |||||
| Working Capital Days | ||||||||||
| Receivable Days | 124.20 | 63.50 | 82.60 | 109.70 | 110.70 | |||||
| Inventory Days | 190.40 | 98.60 | 123.60 | 149.90 | 169.10 | |||||
| Payable Days | 198 | 87.90 | 94 | 104.40 | 133.30 | |||||
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Standard Engineering Technology Ltd FAQs
The current trading price of Standard Engg. Tech. on 11-Sep-2026 16:01 is ₹468.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Standard Engg. Tech. stood at ₹8,894.3 Cr
The latest P/E ratio of Standard Engg. Tech. as of 10-Sep-2026 is 208.5.
The latest P/B ratio of Standard Engg. Tech. as of 10-Sep-2026 is 13.59.
The 52-week high of Standard Engg. Tech. is ₹445.9 and the 52-week low is ₹104.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Standard Engg. Tech. is ₹293 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Standard Engineering Technology Ltd is a below average quality company.
The key valuation ratios of Standard Engineering Technology Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Standard Engineering Technology Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
About Standard Engineering Technology Ltd
Standard Glass Lining Technology Limited was incorporated as ‘Standard Glass Lining Technology Private Limited’ at Hyderabad, as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated September 6, 2012, issued by the Registrar of Companies, Andhra Pradesh. Subsequently, upon the conversion of the company into a public limited company, pursuant to a special resolution passed by its Shareholders on June 4, 2022, the name of the company was changed to ‘Standard Glass Lining Technology Limited’ and a fresh certificate of incorporation dated, June 17, 2022, was issued by the RoC.
The company is one of the specialised engineering equipment manufacturers for pharmaceutical and chemical sectors in India, with in house capabilities across the entire value chain. Its capabilities include designing, engineering, manufacturing, assembly, installation and commissioning solutions as well as establishing standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis. its portfolio comprises core equipments used in the manufacturing of pharmaceutical and chemical products, which can be categorized into: (i) Reaction Systems; (ii) Storage, Separation and Drying Systems; and (iii) Plant, Engineering and Services (including other ancillary parts).
It possesses in-house capabilities to manufacture all the core specialised engineering equipment required in the active pharmaceutical ingredient (API) and fine chemical products manufacturing process. Its engineered solutions are used in processes across pharmaceutical, chemical, food and beverage, biotechnology and fertilizer sectors. It customises its products basis the unique process requirements of its customers. It also provided turnkey automated equipment solutions, optimising processes like vacuum distillation, solvent recovery and gas dispersion. It has a diversified customer base including end users operating in a range of sectors across pharmaceutical, chemicals, paint, bio technology and food and beverages.
Business area of the company
The company together with its subsidiaries is primarily engaged in the business of manufacturing and selling of glass lined reactors, receivers and storage tanks and is specialised in providing the turnkey solutions for the pharmaceutical industry sector.
Products of the company
- Storage tanks
- Be reactor (Batch Reactor)
- Roto cone vacuum dryer
- Ae reactor (Anhydrous Ether Reactor)
- Heat exchangers
Awards, accreditations and recognitions
- 2015: Certificate of Equipment Performance for its glass lining surface by Laurus Labs Limited.
- 2018: Certificate of Equipment Performance for its current goods manufacturing practices (CGMP), mild steel glass lined (MSGL) and stainless-steel glass lined (SSGL) reactors, receivers and condensors by Biocon Limited.
- 2018: Certificate of Equipment Performance for its MSGL reactors and receivers by Dr. Reddy’s Laboratories Limited.
- 2018: Certificate of Equipment Performance for its goods manufacturing process (GMP) CGMP and MSGL reactors] by Srini Pharmaceutical Private Limited.
- 2018: The company received Certificate of Equipment Performance for its equipment GMP, CGMP, MSGL reactors, and receivers by Natco Pharma Limited.
- 2019: Certificate of Equipment Performance for its equipment MSGL reactors and receivers by MSN Laboratories Private Limited.
- 2019: Certificate of Equipment Performance for its equipment GMP, CGMP, MSGL reactors, receivers and storage tanks by Styrax Pharma Private Limited.
- 2023: Global Management Certification Services Private Limited accredited the company with ISO 14001:2015 for design, manufacture and supply of glass lined equipment.
- 2023: Global Management Certification Services Private Limited accredited the company with ISO 45001:2018 for design, manufacture and supply of glass lined equipment.
- 2024: Global Management Certification Services Private Limited accredited the company with ISO 9001:2015 for design, manufacture and supply of glass lined equipment.
- 2024: The National Board of Boiler & Pressure Vessel Inspectors provided the company a certificate of authorization to use ‘R’ symbol.
- 2024: The National Board of Boiler & Pressure Vessel Inspectors provided the company a certificate of authorization to use ‘NB’ symbol.
- 2024: The American Society of Mechanical Engineers provided the company a certificate of authorization to use ‘U’ symbol in relation to manufacture of pressure vessels in accordance with rules prescribed by ASME.
History and milestones
- 2013: Incorporated the Glass Lining Division.
- 2014: Sold 100 glass lined reactors.
- 2016: Supplied first unique stainless steel glass lined reactor to Natco Pharma Limited.
- 2018: The Company hit a turnover of Rs 50 crore.
- 2019: Finished construction of new facility of glass lining equipment at SGL Unit.
- 2021: Its Material Subsidiary was incorporated as a wholly-owned subsidiary.
- 2021: Its Material Subsidiary acquired metal business from M/s S2 Engineering Services and pumps business from M/s Stanpumps Engineering Industries.
- 2022: Agreement with Climaveneta Climate Technologies Private Limited to enter the chillers market.
- 2023: Investment from AGI Investors in the company.
- 2024: Acquired Hyderabad based C.P.K. Engineers Private Limited.
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