Standard Industries financials and balance sheet

NSE: SILBSE: 530017Textiles & ApparelsSmall Cap

₹17.89₹0.10 (0.56%)BSE ₹18.03

Share price at the NSE close on 23 Oct 2026. Previous close ₹17.99.

52-week range of traded prices to 23 Oct 2026

₹11.70Low, 30 Mar 2026₹22.30High, 21 Aug 2026

Next results date: the board meets on 3 Nov 2026 to consider: financial results and other business matters.

Market cap: ₹115 Cr2,930th largest listed
P/E: 1.9
P/B: 1.0
Dividend yield: 4.47%
ROE: 52.8%
ROCE: 63.1%
Debt to equity: 0.00
Volume, NSE: 2,53,86561.2% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Standard Industries annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹439 Cr, year to Mar 2022A loss in 6 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue34
Materials and goods−30
Employee costs−2.7
Other expenses−15
Operating profit−14
Depreciation−2.7
Other income+0.2
One-off items0.0
Finance costs−3.5
Profit before tax−20
Tax0.0
Net profit−20

What the company owns

Plant, investments and other assets₹118 Cr
Receivables₹43 Cr
Current investments₹26 Cr
Cash and bank₹4 Cr
Inventory₹2 Cr

What pays for it: net worth and liabilities

Net worth₹115 Cr
Other liabilities₹71 Cr
Owed to suppliers₹6 Cr

Standard Industries business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them. A segment at a loss has no share of profit.Standard Industries segment results by quarter

Revenue by segment

₹34 CrTotal

Trading₹30.7 Cr89.4% of total
Manufacturing₹3.6 Cr10.6% of total

Profit by segment

Trading₹1.45 Cr100.0% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Trading
Revenue, ₹ crore
8
16
19
22
31
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
0
1
1
1
1
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Manufacturing
Revenue, ₹ crore
3
4
4
3
5
8
6
4
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
1
1
1
1
1
2
0
−2
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Property division
Revenue, ₹ crore
0
0
0
427
0
0
0
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−4
−2
−1
216
35
7
−2
−2
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
others
Revenue, ₹ crore
0
0
0
0
0
0
0
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
0
0
0
0
0
0
0
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	16	21	12	439	21	27	28	34
Company revenue, as in its results	16	21	12	439	21	27	28	34
Revenue	–	–	–	8	16	19	22	31
Revenue growth	–	–	–	–	92.4%	19.7%	17.3%	37.3%
Profit	–	–	–	0	1	1	1	1
Profit growth	–	–	–	–	59.1%	−2.9%	50.2%	38.0%
Margin	–	–	–	5.5%	4.5%	3.7%	4.7%	4.7%
Return on capital	–	–	–	45.1%	73.4%	153.4%	169.6%	173.2%
Assets	–	–	–	3	4	2	6	6
Liabilities	–	–	–	2	3	1	6	5
Capital employed	–	–	–	1	1	0	1	1
Revenue	3	4	4	3	5	8	6	4
Revenue growth	–	29.4%	−1.0%	−23.8%	–	47.6%	−29.0%	−34.6%
Profit	1	1	1	1	1	2	0	−2
Profit growth	–	31.8%	63.1%	−13.8%	–	38.3%	−81.8%	–
Margin	17.7%	18.0%	29.7%	33.6%	25.9%	24.3%	6.2%	−52.3%
Return on capital	–	23.0%	27.3%	19.1%	18.9%	20.7%	3.7%	−25.1%
Assets	–	4	6	7	8	10	10	9
Liabilities	–	1	1	1	0	0	0	1
Capital employed	–	3	5	6	7	9	10	8
Revenue	0	0	0	427	0	0	0	0
Revenue growth	–	–	–	–	−100.0%	–	–	–
Profit	−4	−2	−1	216	35	7	−2	−2
Profit growth	–	–	–	–	−83.9%	–	–	–
Margin	–	–	–	50.6%	–	–	–	–
Return on capital	–	–	–	3,999.1%	49.7%	10.0%	−2.7%	−1.3%
Assets	–	158	181	43	73	73	65	117
Liabilities	–	278	354	38	3	3	3	3
Capital employed	–	−120	−173	5	70	70	62	115
	0	0	0	0	0	0	0	0
Profit	0	0	0	0	0	0	0	0
Return on capital	–	−64.1%	−680.0%	−352.9%	−148.1%	−90.5%	−103.0%	−90.6%
Assets	–	0	0	0	0	0	0	0
Liabilities	–	0	0	0	0	0	0	0
Capital employed	–	0	0	0	0	0	0	0
Revenue	13	17	7	–	–	–	–	–
Revenue growth	–	31.1%	−55.3%	–	–	–	–	–
Profit	0	1	0	–	–	–	–	–
Profit growth	–	39.7%	−45.8%	–	–	–	–	–
Margin	3.6%	3.8%	4.6%	–	–	–	–	–
Return on capital	–	64.3%	33.3%	–	–	–	–	–
Assets	–	4	6	–	–	–	–	–
Liabilities	–	3	5	–	–	–	–	–
Capital employed	–	1	1	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Standard Industries quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 10 Jun	Mar 2020Filed 4 Jul	Mar 2021Filed 22 Jun	Mar 2022Filed 24 May	Mar 2023Filed 22 May	Mar 2024Filed 12 Jun	Mar 2025Filed 12 Jun	Mar 2026Filed 12 May
Revenue from operations	10	14	16	21	12	439	21	27	28	34
	30	29	30	32	24	236	34	38	39	48
Materials and goods bought	–	11	12	16	7	7	14	18	21	30
Employee costs	–	2	2	2	3	3	3	3	3	3
Other expenses	–	16	16	14	14	226	17	17	16	15
Operating profit before depreciation	−20	−15	−13	−11	−12	203	−12	−11	−12	−14
Operating margin	−204.5%	−110.5%	−82.1%	−52.4%	−97.5%	46.3%	−58.5%	−42.7%	−41.2%	−39.5%
Materials, % of revenue	–	77.6%	73.0%	76.0%	59.0%	1.7%	66.1%	68.8%	74.4%	87.4%
Employee costs, % of revenue	–	14.8%	11.7%	9.6%	21.1%	0.6%	12.2%	10.5%	9.7%	7.9%
Other expenses, % of revenue	–	118.1%	97.3%	66.8%	117.5%	51.4%	80.2%	63.5%	57.1%	44.2%
Depreciation and amortisation	1	1	1	3	3	2	3	3	3	3
Operating profit after depreciation	−21	−16	−15	−14	−15	201	−15	−14	−14	−16
Other income	2	39	10	−13	32	25	45	12	3	0
Finance costs	4	8	18	15	14	4	6	3	2	3
One-off items	0	0	0	0	0	0	0	0	0	0
Profit before tax	−23	15	−23	−42	3	221	24	−6	−13	−20
	0	3	0	−2	0	37	2	−6	0	0
Current tax	–	–	0	−2	0	37	2	−6	0	0
Deferred tax	–	–	0	0	0	0	0	0	0	0
Net profit	−23	11	−23	−40	3	185	22	0	−14	−20
Other comprehensive income	–	–	0	0	−1	0	0	−1	0	20
Total comprehensive income	–	–	−23	−40	2	185	22	−1	−13	0
Net margin	−236.2%	82.2%	−144.2%	−189.0%	26.1%	42.1%	102.0%	−0.5%	−48.4%	−56.8%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2017 they do not, so they are left blank.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 10 Jun	Mar 2020Filed 4 Jul	Mar 2021Filed 22 Jun	Mar 2022Filed 24 May	Mar 2023Filed 22 May	Mar 2024Filed 12 Jun	Mar 2025Filed 12 Jun	Mar 2026Filed 12 May
	−5	−45	−43	142	147	136	119	115
Share capital	32	32	32	32	32	32	32	32
Reserves	−37	−77	−75	109	115	104	87	83
	50	114	1	26	24	21	12	0
Repayable after a year	50	113	0	0	24	21	12	0
Repayable within a year	0	1	1	26	0	0	0	0
	300	288	418	106	14	12	12	68
Trade payables	4	5	6	7	4	3	7	6
Other financial liabilities	287	274	212	36	5	8	4	60
Other liabilities	9	7	199	3	1	1	1	1
Provisions	0	1	1	1	1	1	1	1
Tax owed	0	–	–	34	3	0	0	–
	55	119	7	6	31	27	19	9
Other financial liabilities	0	–	0	0	1	0	0	2
Provisions	6	6	7	6	6	6	6	6
	351	361	383	253	193	176	150	192
Held for sale or for a demerger	–	–	15	–	–	–	–	–
	99	103	91	85	80	68	62	58
Plant in use, after depreciation	32	33	8	8	9	8	7	10
Intangible assets	0	0	0	0	0	0	0	4
Goodwill	1	1	1	1	1	1	1	1
Property held to earn rent	14	19	20	19	22	16	16	18
Investments	20	25	26	21	21	20	20	9
Loans given	2	2	2	2	2	2	2	2
Other financial assets	1	1	1	1	1	0	1	0
Other assets	29	23	34	33	24	21	15	15
	252	259	277	168	113	108	88	134
Inventories	77	90	90	1	2	2	2	2
Trade receivables	14	13	15	3	41	48	44	43
Cash and cash equivalents	43	7	59	72	3	4	1	3
Other bank balances	1	2	4	3	1	3	1	1
Current investments	116	134	73	76	53	43	30	26
Loans given	0	0	0	0	0	0	0	0
Other financial assets	0	1	1	2	2	2	3	1
Other assets	0	10	35	12	12	6	7	58
Net debt	−111	−30	−135	−125	−32	−29	−20	−30

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 22 Jun	Mar 2022Filed 24 May	Mar 2023Filed 22 May	Mar 2024Filed 12 Jun	Mar 2025Filed 12 Jun	Mar 2026Filed 12 May
	39	60	−106	−6	1	43
	42	64	−74	−5	−3	44
	53	−177	−65	5	3	56
Receivables	−2	−136	−27	9	4	0
Inventories	0	90	−1	0	0	1
Payables	1	−129	−35	−2	4	57
Other working capital	53	−2	−2	−2	−6	−1
Tax paid	−3	−3	−32	−1	4	−1
Capital spending	9	38	8	1	2	57
Free cash flow	30	22	−114	−7	−1	−14
	87	−16	60	21	15	−21
Plant and property sold	8	0	35	10	0	0
Interest received	2	2	1	1	0	0
Dividends received	0	−1	2	0	0	0
	−75	−32	−23	−14	−19	−21
Borrowings repaid	−60	−26	−1	−4	−9	−12
Interest paid	−14	−4	−4	−3	−2	−4
Lease payments	−1	−1	−1	−1	−1	−1
Dividends paid	0	0	16	7	7	4
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	52	12	−69	1	−3	1

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Standard Industries dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 10 Jun	Mar 2020Filed 4 Jul	Mar 2021Filed 22 Jun	Mar 2022Filed 24 May	Mar 2023Filed 22 May	Mar 2024Filed 12 Jun	Mar 2025Filed 12 Jun	Mar 2026Filed 12 May
Earnings per share	−₹3.58	₹1.75	−₹3.65	−₹6.24	₹0.10	₹28.71	₹3.37	−₹0.02	−₹2.10	−₹3.03
Diluted earnings per share	−₹3.58	₹1.75	−₹3.65	−₹6.24	₹0.10	₹28.71	₹3.37	−₹0.02	−₹2.10	−₹3.03
Dividend per share	₹0.75	₹1.00	–	–	–	₹2.50	₹1.05	₹1.05	–	₹0.80
Book value per share	–	–	−₹0.79	−₹7.03	−₹6.73	₹22.00	₹22.88	₹21.20	₹18.57	₹17.89
Dividend payout	–	57.2%	–	–	–	8.7%	31.2%	–	–	–
Shareholder yield	–	–	–	–	0.1%	0.1%	9.6%	4.6%	5.5%	4.7%
Market cap at the year end (₹ crore)	142	133	99	61	127	77	165	145	123	76

Ratios

Consolidated, years to March.Standard Industries PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 10 Jun	Mar 2020Filed 4 Jul	Mar 2021Filed 22 Jun	Mar 2022Filed 24 May	Mar 2023Filed 22 May	Mar 2024Filed 12 Jun	Mar 2025Filed 12 Jun	Mar 2026Filed 12 May
Revenue growth	0.2%	40.2%	18.7%	30.7%	−43.9%	3,587.9%	−95.2%	26.7%	3.8%	22.9%
Net profit growth	–	–	–	–	–	5,845.1%	−88.3%	–	–	–
Earnings per share growth	–	–	–	–	–	28,610.0%	−88.3%	–	–	–
	–	–	462.9%	159.6%	−7.0%	375.9%	15.0%	−0.1%	−10.6%	−16.6%
	–	–	–	−303.2 pts	−166.6 pts	382.9 pts	−360.9 pts	−15.1 pts	−10.5 pts	−6.1 pts
From the net margin	–	–	–	143.8 pts	−181.7 pts	−4.3 pts	535.6 pts	−15.1 pts	−9.1 pts	−1.8 pts
From asset turnover	–	–	–	174.2 pts	10.2 pts	−477.1 pts	−848.6 pts	0.0 pts	−1.6 pts	−2.1 pts
From borrowing	–	–	–	−621.2 pts	4.8 pts	864.3 pts	−47.9 pts	0.0 pts	0.2 pts	−2.1 pts
Return on capital employed	–	–	−32.7%	−20.7%	–	120.2%	−8.8%	−9.0%	−10.8%	−14.1%
Cash conversion	–	–	–	–	1,270.1%	32.7%	−489.0%	–	–	–
Interest cover	–	–	–	–	–	45.8	–	–	–	–
Debt to equity	–	–	–	–	–	0.18	0.17	0.15	0.10	0.00
Receivable days	–	–	310	231	468	2	705	655	570	454
Inventory days	–	–	2,377	2,045	4,705	45	51	38	42	19
Payable days	–	–	124	109	324	341	116	52	116	74
Cash conversion cycle, days	–	–	2,564	2,167	4,848	−294	640	641	496	399
Working capital days	–	–	−4,685	−2,967	−8,485	−52	727	626	576	379
Asset turnover	–	–	0.05	0.06	0.03	1.38	0.10	0.15	0.17	0.20
Assets per rupee of net worth	–	–	−69.28	−14.16	−8.41	6.47	1.54	1.30	1.27	1.46
Sales per rupee of plant	–	–	0.51	0.65	1.50	54.30	2.42	3.52	3.92	3.32
Capital spending to depreciation	–	–	–	–	2.73	15.98	3.00	0.50	0.70	20.80
Plant being built, % of plant in use	–	–	0.0%	–	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Interest cover is left blank for the years to Mar 2017, Mar 2018, Mar 2019, Mar 2020, Mar 2021, Mar 2023, Mar 2024, Mar 2025 and Mar 2026: operating profit after depreciation is a loss, and a loss covers no interest bill. Debt to equity is left blank for the years to Mar 2019, Mar 2020 and Mar 2021: net worth is below zero, so there is no shareholders' money to set the borrowings against. Return on capital employed is left blank for the year to Mar 2021: net worth and borrowings together come to nought or less, so there is no money employed to set the operating profit against. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: −11.4%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	13.4%	23.6%	17.4%
Return on equity, average	–	72.7%	−9.1%
Return on capital employed, average	–	15.5%	−11.3%
Operating margin, average	−68.3%	−27.1%	−41.1%
Net margin, average	−42.3%	7.7%	−35.2%
Asset turnover, average	–	0.40	0.17
Cash conversion cycle, days, average	–	376	512
Debt to equity, average	–	0.12	0.08

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	−8	38	43
Cash from investing	60	16	−21
Cash from financing	−108	−54	−21
Capital spending	106	60	57
Dividends paid	33	17	4
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	0	0	0
Borrowings repaid	52	24	12

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	7	8	3	4	5	5
Altman Z-scorePublished threshold 1.81	–	−0.15	−0.50	−0.37	5.99	4.26	3.80	3.77	1.51
Beneish M-scorePublished threshold −1.78	–	–	–	−2.60	30.98	307.07	−2.12	−2.83	−3.80
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	−33.15	44.19	30.46	−8.52	−18.12	−24.31
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	−0.03	−0.25	−13.83	–
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	−33.47	57.67	−3,671.26	1,609.73	−9.04	−13.41	−25.11
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	−18.98	56.57	−103.88	26.27	−33.37	11.68	−79.59
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	48.34	203.88	−4.91	−1.06	−19.82	7.61	144.24
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	–	0.00	0.00	0.00	0.00	0.00
Effective tax ratePublished threshold 17.16 per cent	23.12	–	–	0.00	16.50	8.45	–	–	–
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	15.06	−126.47	–	–	–

A threshold marked as ours has no published figure; it is the line we read the check against.