On 6 Nov 2026, Sindhu Trade Links was priced at ₹20.76, or 57.7× trailing earnings, against an industry P/E of 14.8×, and the shares are 28% below their 52-week high. Its ROCE of 4.3% is the lowest among the 7 largest Conglomerates peers, and sales fell 24% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. Debt is 0.25× equity. It is a small-cap company with a market cap of ₹3,825 Cr, ranked 16th of 52 Conglomerates companies by market cap; the shares fell 15% over the past year.
- ₹21.28
- ₹21.99
- ₹20.32
- ₹21.28
- 3.5 L
Health check
- ReturnsIn line
−15.0% over a year, better than 3 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthSteady
Sales −23.6%, profit +367.8% a year over 3 years.
- ProfitabilityWeak
ROCE 4.3% vs peer median 12.8%.
- Balance sheetFair
Debt 0.25× equity, interest covered 2.3×, Piotroski 4 of 9.
- Red flags5 to check
Return on equity is low at 3.5%.
Small cap
Moves with the market
Key metrics
- Market cap
- ₹3,825 Cr
- Small cap
- P/E
- 57.7
- Industry 14.8
- Price to book
- 2.38
- Peers 5.18
- Dividend yield
- 0.00%
- ROE
- 3.5%
- Peers 11.6%
- ROCE
- 4.3%
- Peers 12.8%
- Debt to equity
- 0.25
- Debt ₹559 Cr
- EPS (TTM)
- ₹0.36
- Face value ₹1
- OPM (TTM)
- 2.0%
- Net margin 12.6%
- Sales growth
- −21.9%
- Latest quarter vs a year ago
- Profit growth
- +106.1%
- Latest quarter vs a year ago
- Price to sales
- 7.84
- EV/EBITDA 419.2
Strengths and risks
Strengths
- Quarterly profit up 106.1% on a year ago.
Risks to check
- Return on equity is low at 3.5%.
- Quarterly sales down 21.9% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- P/E of 57.7 against an industry P/E of 14.8.
- Interest coverage of only 0.5×.
About Sindhu Trade Links
Sindhu Trade Links Limited, together with its subsidiaries, primarily engages in the mining, transportation, and loading services in India. It operates through Transportation & Logistics, Oil, Lubricants, & Spares, Finance & Investment, and Oil Drilling Operations segments. The company is involved in the development of food park for food processing industries; trading of automobiles spare parts, heavy earthmoving equipment parts, lubricants, tires, tubes,…
- Headquarters
- Gurugram
- Employees
- 586
- Sector
- Industrials
- ISIN
- INE325D01025
- Website
- sindhutrade.com
Price range
- Avg volume (3M)
- 14.9 L
- 1-year return
- minus 15.0%
- From 52-week high
- minus 27.5%
Peers · Conglomerates
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SRFSRF | 2,460.40 | minus 0.99% | 72,928 | 31.9 | 21.2 | 14.5% | 24.2% | 0.35 | 1.8% | minus 15.5% |
| TIINDIATube Investments of India | 2,170.00 | minus 5.65% | 42,005 | 62.9 | 16.6 | 12.8% | 9.9% | 0.05 | 15.5% | minus 23.1% |
| GODREJINDGodrej Industries | 955.85 | minus 2.40% | 32,198 | 27.4 | 32.4 | 12.3% | 10.4% | 2.22 | 9.8% | minus 11.6% |
| 3MINDIA3M India | 27,570.00 | minus 5.98% | 31,058 | 57.0 | 29.9 | 47.5% | 18.4% | 0.10 | 8.7% | minus 18.3% |
| THERMAXThermax | 2,746.30 | minus 17.27% | 30,937 | 52.6 | 26.6 | 15.3% | 12.4% | 0.42 | 9.8% | plus 1.5% |
| BEMLBEML | 1,953.20 | minus 1.89% | 16,268 | 28.0 | 55.7 | 5.9% | 7.3% | 0.11 | 3.0% | minus 7.4% |
| NAVANava | 529.15 | minus 0.99% | 14,991 | 19.8 | 7.9 | 11.1% | 38.4% | 0.21 | 6.8% | minus 12.1% |
| SINDHUTRADSindhu Trade Links | 20.76 | minus 2.44% | 3,825 | 57.7 | 176.1 | 4.3% | 10.6% | 0.25 | −23.6% | minus 15.0% |
| Median of 7 peers | – | −2.40% | 31,058 | 31.9 | 26.6 | 12.8% | 12.4% | 0.21 | 8.7% | −12.1% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 165 | 124 | 119 | 115 | 129 | |
| 155 | 130 | 120 | 113 | 115 | |
| 9.9 | −5.2 | −0.5 | 1.9 | 13.7 | |
| 6.0% | −4.2% | −0.4% | 1.7% | 10.6% | |
| 22.5 | 29.9 | 26.7 | 31.2 | 42 | |
| 9.6 | 12.4 | 11 | 17.1 | 11.8 | |
| 22.7 | 12.3 | 15.3 | 16 | 44 | |
| 17.3% | 12.3% | 9.1% | 12.9% | 11.9% | |
| 18.8 | 10.8 | 13.9 | 14 | 38.7 | |
| 0.08 | 0.05 | 0.06 | 0.08 | 0.17 |
Profit & loss
- Sales CAGR 3Y
- −23.6%
- Profit CAGR 3Y
- +367.8%
- ROE
- 3.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,174 | 1,684 | 1,731 | 524 | |
| – | +43.4% | +2.8% | minus 69.7% | |
| 1,097 | 1,494 | 1,466 | 500 | |
| 76.6 | 190 | 265 | 24.3 | |
| 6.5% | 11.3% | 15.3% | 4.6% | |
| 117 | 120 | 48.2 | 101 | |
| 161 | 152 | 121 | 51.1 | |
| 24.4 | 66.1 | 55 | 13.2 | |
| 8.9 | −15.6 | 29.1 | 5 | |
| 16.7 | 76.6 | 166 | 66.4 | |
| 120.9% | 7.6% | 26.9% | 13.4% | |
| 0.4 | 56.9 | 25.7 | 41.4 | |
| – | +13961.7% | minus 54.9% | +61.5% | |
| – | 0.37 | 0.17 | 0.27 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 154 | 154 | 154 | 154 | |
| 1,178 | 1,342 | 1,454 | 1,599 | |
| 1,638 | 1,017 | 372 | 463 | |
| 2,022 | 2,145 | 750 | 668 | |
| 4,992 | 4,657 | 2,730 | 2,884 | |
| 3,427 | 3,459 | 56.2 | 54.6 | |
| 0.4 | – | – | 1.2 | |
| 147 | 161 | 168 | 170 | |
| 35.8 | 103 | 45.9 | 9.2 | |
| 1,382 | 934 | 2,460 | 2,648 | |
| 4,992 | 4,657 | 2,730 | 2,884 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −108 | 691 | −51 | 43.3 | |
| 152 | 66.8 | 473 | −64.4 | |
| −22.8 | −688 | −408 | 8.3 | |
| 21 | 69.2 | 14.8 | −12.8 | |
| −50.8 | −79.3 | −28.6 | −5.9 | |
| −159 | 611 | −79.6 | 37.4 |
Shareholding pattern
- Promoters73.93%
- Public26.07%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 73.93% | 26.07% | 0.00 | |
| 13 Aug 2026 | 73.93% | 26.07% | minus 1.04 | |
| 30 Jun 2026 | 74.97% | 25.03% | 0.00 | |
| 31 Mar 2026 | 74.97% | 25.03% | 0.00 | |
| 31 Dec 2025 | 74.97% | 25.03% | – |
Major shareholders
Filings & events
News
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