SMT Engineering (BSE: SMTEL) had a P/E of 18.8× on 6 Nov 2026, above the industry P/E of 18.4×, and the shares are 54% below their 52-week high. It earns ROCE of 24% and ROE of 25%. Debt is 0.68× equity. It is a small-cap company with a market cap of ₹496 Cr, ranked 40th of 219 Capital Markets companies by market cap; the shares rose 178% over the past year.
- ₹276.00
- ₹276.00
- ₹270.00
- ₹262.90
- 559
Health check
- ReturnsAhead
+178.3% over a year, better than 7 of 7 peers.
- Price tagIn line
P/E 18.8 vs industry 18.4.
- GrowthStrong
Sales +750.8% a year over 3 years.
- ProfitabilityStrong
ROCE 24.4% vs peer median 22.1%.
- Balance sheetFair
Debt 0.68× equity, interest covered 10.4×, Piotroski 5 of 9.
- Red flags1 to check
54% below its 52-week high.
Small cap
Moves with the market
Key metrics
- Market cap
- ₹496 Cr
- Small cap
- P/E
- 18.8
- Industry 18.4
- Price to book
- 3.81
- Peers 4.53
- Dividend yield
- 0.00%
- ROE
- 25.2%
- Peers 18.9%
- ROCE
- 24.4%
- Peers 22.1%
- Debt to equity
- 0.68
- Debt ₹82 Cr
- EPS (TTM)
- ₹14.57
- OPM (TTM)
- 26.1%
- Net margin 14.7%
- Sales growth
- +14.0%
- Latest quarter vs a year ago
- Profit growth
- +62.0%
- Latest quarter vs a year ago
- Price to sales
- 2.97
- EV/EBITDA 12.9
Strengths and risks
Strengths
- Return on equity of 25.2%.
- Return on capital employed of 24.4%.
- Quarterly profit up 62.0% on a year ago.
Risks to check
- 54% below its 52-week high.
About SMT Engineering
SMT Engineering Limited engages in the trading of goods and shares in India. The company is involved in investment in mutual funds, shares, and securities. The company was formerly known as Adarsh Mercantile Limited and changed its name to SMT Engineering Limited in June 2025. SMT Engineering Limited was incorporated in 1992 and is based in Indore, India.
- Headquarters
- Indore
- Employees
- 3
- Sector
- Financial Services
- ISIN
- INE673E01018
- Website
- smtel.in
Price range
- Avg volume (3M)
- 1.1K
- 1-year return
- plus 178.3%
- From 52-week high
- minus 53.8%
Peers · Capital Markets
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GROWWBillionbrains Garage Ventures | 215.08 | minus 3.93% | 1,33,585 | 50.3 | 13.78 | 29.3% | 21.6% | 62.9% | – | – | 0.00% | plus 63.8% |
| MOTILALOFSMotilal Oswal Financial Services | 1,102.00 | plus 0.64% | 66,448 | 25.0 | 4.27 | 18.1% | 18.9% | 52.4% | 29.0% | 26.1% | 0.54% | plus 11.1% |
| AIILAuthum Investment & Infrastructure | 570.05 | plus 0.08% | 48,410 | 27.6 | 3.29 | 15.2% | 13.1% | 74.0% | 44.4% | −23.5% | 0.00% | minus 0.7% |
| ANGELONEAngel One | 331.00 | plus 1.49% | 30,290 | 26.8 | 4.53 | 26.9% | 18.4% | 39.7% | 20.3% | 0.9% | 1.95% | plus 29.5% |
| CDSLCentral Depository Services (India) | 1,331.40 | minus 0.19% | 27,826 | 55.1 | 14.03 | 29.7% | 26.4% | 51.3% | 27.3% | 18.2% | 0.96% | minus 13.3% |
| CHOICEINChoice International | 748.20 | minus 0.09% | 16,668 | 62.9 | 8.90 | 17.6% | 15.8% | 35.3% | 42.2% | 53.6% | 0.00% | minus 7.4% |
| IIFLCAPSIIFL Capital Services | 349.80 | plus 0.13% | 13,036 | 18.8 | 3.15 | 22.1% | 19.5% | 36.1% | 19.9% | 30.9% | 0.86% | plus 4.1% |
| SMTELSMT Engineering | 274.40 | plus 4.37% | 496 | 18.8 | 3.81 | 24.4% | 25.2% | 26.1% | 750.8% | – | 0.00% | plus 178.3% |
| Median of 7 peers | – | 0.08% | 30,290 | 27.6 | 4.53 | 22.1% | 18.9% | 51.3% | 28.2% | 22.2% | 0.54% | 4.1% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 27.1 | 34.1 | 26.9 | 74.1 | 30.9 | |
| 23.2 | 24.5 | 21 | 53.1 | 24.2 | |
| 3.9 | 9.6 | 5.9 | 21 | 6.7 | |
| 14.4% | 28.2% | 22.1% | 28.4% | 21.6% | |
| 0.1 | 0 | 0 | 0.3 | 0.3 | |
| 0.7 | 0.9 | 1.6 | 1.2 | 1.7 | |
| 0.2 | 0.2 | 0.3 | 0.3 | 0.4 | |
| 3.1 | 8.6 | 4.1 | 19.8 | 4.9 | |
| 24.8% | 26.0% | 43.7% | 39.1% | 23.0% | |
| 2.3 | 6.4 | 2.3 | 12.1 | 3.8 | |
| 1.42 | 3.85 | 1.40 | 7.21 | 2.11 |
Profit & loss
- Sales CAGR 3Y
- +750.8%
- ROE
- 25.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.3 | 2.6 | 21 | 162 | |
| – | +874.0% | +720.2% | +671.9% | |
| 0.5 | 9.1 | 17.6 | 122 | |
| −0.2 | −6.5 | 3.4 | 40.7 | |
| −83.2% | −253.5% | 16.3% | 25.1% | |
| 0.2 | 4.9 | 0.1 | −0.3 | |
| 0.2 | 0.2 | 0.1 | 3.8 | |
| 0 | 0 | 0.8 | 1 | |
| 0.1 | – | 0 | – | |
| −0.2 | −1.9 | 2.7 | 35.6 | |
| −52.8% | 6.4% | 13.2% | 35.2% | |
| −0.3 | −1.7 | 2.5 | 23.1 | |
| -0.75 | -4.57 | 6.35 | 13.80 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3.7 | 3.7 | 16.5 | 18.1 | |
| 3.5 | 3.9 | 46.3 | 102 | |
| 3.7 | – | 51.5 | 82.1 | |
| 0.7 | 0.2 | 52.8 | 64.1 | |
| 11.5 | 7.7 | 167 | 267 | |
| – | – | 20.6 | 45.4 | |
| – | – | 2.4 | 21.3 | |
| 6.1 | 2.4 | 0.5 | 12.9 | |
| 0.4 | 1 | 25.1 | 1.3 | |
| 5 | 4.3 | 118 | 186 | |
| 11.5 | 7.7 | 167 | 267 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −0.1 | −8.2 | −9.7 | −29.2 | |
| 0.3 | 13.1 | −21.4 | −55.7 | |
| −0.3 | −3.9 | 53.2 | 61 | |
| −0 | 1 | 22.1 | −23.8 | |
| – | – | – | −26 | |
| −0.1 | −8.2 | −9.7 | −55.2 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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