CMP ₹167.99 | Q4 PAT ₹16.49 Cr | EPS ₹0.76 | FY25 PAT ₹69 Cr | Margin 11% | Zero Net Debt
📌 Snapshot That Even Lab Reactors Can’t Ignore
Standard Glass Lining Technology Ltd has dropped full FY25 numbers and guess what? They’re not just clean — they’re glass-clean.
- Q4 Revenue (Consolidated): ₹171.04 Cr
- Q4 PAT: ₹16.49 Cr
- EPS: ₹0.76
- Full-Year PAT (FY25): ₹69 Cr
- FY25 EBITDA Margin: 19.1%
- PAT Margin: 11.0%
- Net debt: Matlab nahi hi hai.
Still… stock down.
Because D-Street only listens when someone yells “bonus” or “dividend” on Twitter Spaces.
📊 Quarterly Comparison: Standalone vs Consolidated
| Type | Revenue (₹ Cr) | PAT (₹ Cr) | EPS (₹) |
|---|---|---|---|
| Standalone Q4 | 63.21 | 10.32 | 0.53 |
| Consolidated Q4 | 171.04 | 16.49 | 0.76 |
Revenue jump 🔼
EPS steady ✅
Profit up 📈
But CMP? 📉 -1.79%
📅 Full-Year Performance: FY25 vs FY24
| Metric | FY25 (₹ Cr) | FY24 (₹ Cr) | YoY Growth |
|---|---|---|---|
| Revenue | 626 | 550 | +13.9% |
| EBITDA | 120 | 101 | +18.6% |
| PAT | 69 | 60 | +14.4% |
| EPS (Diluted) | ₹3.5 | ₹3.5 | Flat |
| EBITDA Margin | 19.1% | 18.4% | +77 bps |
| PAT Margin | 11.0% | 10.9% | +5 bps |
➡️ Margins up. Profit up. EPS flat. Market down. Welcome to Indian smallcaps.
🏭 Balance Sheet Gyaan: Clean Like a Lab Table
| Metric | FY25 (₹ Cr) |
|---|---|
| Total Assets | 958.4 |
| Total Equity | 712.7 |
| Total Borrowings (Gross) | 59.7 |
| Cash + Bank + Other Fin Assets | 267.5+ |
| Net Debt | Practically Zero ✅ |
| Inventory | 279.3 |
| Receivables | 214.0 |
Working capital intense? Yes.
But they’re managing it like IITians handle semester projects — last minute, but it gets done.
📦 Business Highlights (straight from investor deck):
- 🇯🇵 JV with AGI Inc. Japan for Shell & Tube Glass Lined Heat Exchangers
- 🏭 Unit-5 commissioned, new capacity added
- 📦 Order book swelling in pharma, chemical, infra
- 🔧 Capex of ₹130 Cr planned over 2–3 years
- 🧪 R&D + Product innovation: PTFE pipelines, reactors, smart seals
🧠 EduInsight (NO RECOMMENDATION ZONE)
- The company is scaling up with new tech and infra
- Balance sheet is cleaner than your white shirt on Day 1 of school
- Cash generation is strong, and profitability is consistently compounding
- Market isn’t reacting because:
- No dividend/bonus hype
- No viral influencer push
- P/E still looks “high” at first glance (even though margins justify it)
🧠 But if future EPS rises and the market mood improves, re-rating might happen. Might. Not advice, bhai.
🚫 So What Are We Saying?
Not this:
- “Buy now before it hits ₹250!” ❌
- “Strong buy on dips” ❌
- “Multibagger confirmed” ❌
What we are saying:
- The numbers are good
- The business model is mature
- The execution is visible
- The company is not a scammy SME stock floating on fumes
That’s it. Baaki — tumhare dimaag, tumhara research, tumhari marzi. SEBI ko bhi shanti. 🙏
Author: Prashant Marathe
Date: May 23, 2025
Tags: Standard Glass Lining, SGLTL, Q4 FY25, Infra Equipment, Pharma Engineering, EduInvesting, Clean Financials, Financial Satire, SEBI-Compliant Finance
