1. At a Glance
Once a low-profile trader, SG Mart Ltd has now become a ₹4,200 Cr market-cap company with dreams of becoming a construction and renewables behemoth. With a P/E of 40, heavy capex, and a takeover by the APL Apollo family, the stock is under the spotlight. But is the growth organic—or just “Other Income”?
2. Introduction with Hook
Picture this: A quiet kirana shop suddenly starts selling Teslas. That’s SG Mart for you—once barely reporting crores in revenue, and now planning ₹600 Cr in capex, ₹266 Cr in solar mounting orders, and an open offer by APL Apollo-linked promoters.
- EPS grew from ₹5.46 in FY24 to ₹9.20 in FY25
- Sales grew 118% YoY (₹2,683 Cr to ₹5,856 Cr)
- Promoter holding has dropped from 75% to 36.27%
It’s not just a pivot—it’s a reincarnation.
3. Business Model (WTF Do They Even Do?)
SG Mart is now a B2B/B2C platform selling:
- Construction Products: TMT rebars, HR sheets, barbed wires
- Home Improvement: Tiles, bath fittings, laminates, paints
- Solar Structures: ₹266 Cr order from IPPs for mounting structures
Their model resembles a steel-focused omnichannel infra mart, possibly targeting real estate, MSMEs, and large EPC
