🧱 From Warehouses to Wall Street – The Sathlokhar Story
If you missed Sathlokhar Synergys’ IPO, don’t worry – you missed just a 204% return in one year. 😬 But this isn’t just another SME rocket. This is the story of how a small EPC firm went from pouring cement in Chennai to pouring profit into investor wallets.
Here’s your full 5-year EduInvesting-style deep dive into Sathlokhar Synergys E&C Global Ltd – the company, the drama, the financials, and the potential multibagger madness.
📌 At a Glance (FY25 Snapshot)
| Metric | Value |
|---|---|
| CMP (as of Jun 5) | ₹426.45 |
| Market Cap | ₹1,029 Cr |
| P/E Ratio | 24.1x |
| ROE | 24.8% |
| 1Y Return | +204.6% |
| 52W High/Low | ₹695.5 / ₹223.0 |
| OPM FY25 | ~10.7% |
| EPS FY25 | ₹14.6 |
| Dividend | 0% (Why so stingy?) |
🏡 What Does Sathlokhar Actually Do?
- EPC Projects: Turnkey infrastructure contracting – from pharma plants to solar rooftops
- Sectors: Industrial, institutional, warehousing, hospitality, solar
- Presence: Tamil Nadu, Karnataka, Uttar Pradesh, West Bengal
- Legacy: Started in 2013, rebranded fully in 2024, SME listed
📈 5-Year Revenue & Profit Growth
| FY | Revenue (₹ Cr) | Net Profit (₹ Cr) | EPS (₹ est.) |
|---|---|---|---|
| 2020 | 65.1 | 2.3 | ~0.7 |
| 2021 | 32.5 | 0.6 | ~0.2 |
| 2022 | 58.5 | 1.0 | ~0.4 |
| 2023 | 87.2 | 5.4 | ~1.8 |
| 2024 | 247.3 | 26.2 | ~8.4 |
| 2025 | 402.0 | 43.0 | 14.6 |
Yes, that’s 249.8% 3-year PAT CAGR. If HDFC had this growth, Nifty would be on Mars.
📊 Key Financial Metrics (CAGR)
| Metric | 3-Year CAGR | 5-Year CAGR |
|---|---|---|
| Revenue | 90.1% | 43.9% |
| Net Profit | 249.8% | 79.4% |
| EBITDA Margin | ~10.6% | Up from 1.7% |
| ROE (FY25) | 24.8% | Improving YOY |
👩💼 Key Management
- T. Sangeethaa – Whole-time Director, COO (Comp: ₹1.21 Cr)
- G. Thiyagu – CMD & CEO (Comp: ₹31.19 L)
- B. Sethurajan – VP, Projects
EduTake: Professional team, relatively modest salaries, no flashy Lambos (yet).
🧾 Shareholding Snapshot
| Shareholder Category | % Holding |
|---|---|
| Promoter | 58.5% |
| Public | 37.1% |
| FIIs | 0.1% |
| MFs | 0.2% |
Low institutional ownership = high volatility = multibagger or multibeggar?
�� Bulk Deals: SMES Go Boom
- Yuga Stocks and Mansi Shares traded 6+ major bulk deals in Sep 2024
- Signs of serious desk activity around ₹480–₹590
- Price now ₹426 – are they coming back?
📉 Risks & Red Flags
- Debtor Days up: Working capital stress alert
- Zero dividends: Reinvesting or just hoarding?
- Low Piotroski Score (3/9): Accounting quality concern
- SME listing: Lower liquidity, higher manipulation risk
🔮 Fair Value Estimate
Assuming 30% profit growth and P/E of 22–25x:
- FY26 PAT ~₹56 Cr
- Fair Value Range: ₹510 – ₹580/share
- CMP ₹426 → 20–35% upside, IF growth sustains
🧠 EduInvesting Verdict
Sathlokhar is not for the weak-hearted. It’s growing like it just took steroids and GST benefits together. But it also trades on an SME platform, so you can’t ignore liquidity traps.
If this were a cricket player, it would be Rinku Singh – explosive, underdog, and currently making front-page headlines.
Hold tight, or get out of the way.
Author: Prashant Marathe
Date: 6 June 2025
Tags: Sathlokhar Synergys, EPC multibagger, SME stock, 5 year recap, financial analysis
