Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹280Cr
Rev Gr TTM
Revenue Growth TTM
4.61%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

SAHYADRI
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 25.7 | 18.1 | 6.3 | 9.7 | -7.8 | -3.5 | -12.0 | -3.2 | -1.6 | -1.2 | 17.9 | 10.7 |
| 152 | 198 | 108 | 123 | 140 | 193 | 97 | 123 | 139 | 194 | 116 | 132 |
Operating Profit Operating ProfitCr |
| 8.7 | 12.2 | 10.5 | 9.2 | 9.0 | 11.2 | 8.9 | 6.1 | 8.4 | 9.4 | 7.2 | 9.1 |
Other Income Other IncomeCr | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 |
Interest Expense Interest ExpenseCr | 3 | 3 | 3 | 3 | 3 | 2 | 1 | 2 | 2 | 1 | 1 | 1 |
Depreciation DepreciationCr | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| 7 | 20 | 5 | 4 | 5 | 17 | 3 | 1 | 6 | 14 | 4 | 7 |
| 2 | 5 | 1 | 1 | 1 | 4 | 1 | 0 | 1 | 4 | 1 | 2 |
|
Growth YoY PAT Growth YoY% | -46.7 | -30.7 | -35.0 | -33.0 | -9.3 | -17.3 | -49.1 | -76.0 | -0.5 | -13.8 | 40.4 | 554.0 |
| 2.8 | 6.7 | 3.1 | 2.4 | 2.8 | 5.8 | 1.8 | 0.6 | 2.8 | 5.0 | 2.2 | 3.4 |
| 4.3 | 13.8 | 3.5 | 2.9 | 3.9 | 11.4 | 1.8 | 0.7 | 3.9 | 9.8 | 2.5 | 4.5 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | -17.1 | -28.9 | 4.6 | 9.8 | -4.2 | 66.1 | 14.9 | 9.5 | 6.8 | -4.6 | 5.0 |
| 401 | 334 | 217 | 206 | 228 | 238 | 380 | 442 | 513 | 568 | 551 | 581 |
Operating Profit Operating ProfitCr |
| 8.4 | 7.9 | 16.1 | 23.6 | 23.0 | 16.3 | 19.5 | 18.5 | 13.7 | 10.5 | 9.0 | 8.7 |
Other Income Other IncomeCr | 1 | 1 | 2 | 4 | 3 | 2 | 6 | 4 | 3 | 4 | 4 | 5 |
Interest Expense Interest ExpenseCr | 14 | 20 | 16 | 11 | 8 | 5 | 5 | 5 | 9 | 11 | 7 | 5 |
Depreciation DepreciationCr | 13 | 29 | 23 | 21 | 18 | 14 | 14 | 15 | 24 | 24 | 25 | 25 |
| 11 | -19 | 4 | 36 | 45 | 28 | 79 | 85 | 52 | 35 | 26 | 30 |
| 4 | -8 | 1 | 11 | 13 | 2 | 17 | 23 | 14 | 9 | 7 | 8 |
|
| | -253.2 | 127.5 | 714.7 | 30.6 | -16.7 | 132.1 | 0.2 | -40.0 | -28.9 | -26.2 | 16.8 |
| 1.6 | -3.0 | 1.2 | 9.0 | 10.8 | 9.3 | 13.1 | 11.4 | 6.3 | 4.2 | 3.2 | 3.6 |
| 7.4 | -11.4 | 3.3 | 25.5 | 33.4 | 27.8 | 64.5 | 56.5 | 33.9 | 24.1 | 17.8 | 20.8 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 11 | 11 | 11 | 11 | 11 |
| 105 | 94 | 97 | 121 | 153 | 175 | 236 | 293 | 324 | 349 | 367 | 379 |
Current Liabilities Current LiabilitiesCr | 220 | 147 | 89 | 105 | 56 | 71 | 124 | 132 | 170 | 160 | 151 | 96 |
Non Current Liabilities Non Current LiabilitiesCr | 95 | 111 | 96 | 54 | 56 | 52 | 10 | 32 | 51 | 40 | 14 | 12 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 181 | 136 | 97 | 119 | 119 | 162 | 230 | 269 | 321 | 310 | 300 | 259 |
Non Current Assets Non Current AssetsCr | 248 | 226 | 194 | 171 | 156 | 146 | 149 | 199 | 236 | 250 | 243 | 240 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 25 | 61 | 56 | 25 | 57 | 30 | 50 | 11 | 17 | 58 | 54 |
Investing Cash Flow Investing Cash FlowCr | -38 | -9 | -1 | 5 | -2 | -34 | -30 | -33 | -45 | -34 | -11 |
Financing Cash Flow Financing Cash FlowCr | 9 | -53 | -54 | -28 | -57 | 2 | -19 | 22 | 29 | -22 | -46 |
|
Free Cash Flow Free Cash FlowCr | -14 | 54 | 56 | 24 | 55 | 28 | 38 | -54 | -30 | 16 | 35 |
| 347.4 | -559.5 | 1,856.0 | 103.0 | 180.1 | 114.1 | 80.4 | 17.0 | 45.1 | 219.2 | 276.9 |
CFO To EBITDA CFO To EBITDA% | 66.8 | 211.9 | 133.5 | 39.5 | 84.1 | 65.3 | 54.0 | 10.5 | 20.6 | 87.0 | 99.0 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 66 | 50 | 108 | 235 | 174 | 65 | 274 | 407 | 324 | 373 | 236 |
Price To Earnings Price To Earnings | 9.7 | 0.0 | 36.1 | 9.6 | 5.5 | 2.5 | 4.5 | 7.5 | 8.7 | 14.1 | 12.1 |
Price To Sales Price To Sales | 0.1 | 0.1 | 0.4 | 0.9 | 0.6 | 0.2 | 0.6 | 0.8 | 0.6 | 0.6 | 0.4 |
Price To Book Price To Book | 0.6 | 0.5 | 1.0 | 1.8 | 1.1 | 0.3 | 1.1 | 1.5 | 1.0 | 1.0 | 0.6 |
| 6.2 | 6.2 | 4.9 | 5.0 | 3.2 | 2.6 | 3.5 | 4.8 | 5.5 | 7.3 | 5.7 |
Profitability Ratios Profitability Ratios |
| 43.9 | 42.5 | 42.9 | 50.8 | 52.6 | 48.1 | 49.1 | 49.0 | 46.3 | 41.7 | 43.8 |
| 8.4 | 7.9 | 16.1 | 23.6 | 23.0 | 16.3 | 19.5 | 18.5 | 13.7 | 10.5 | 9.0 |
| 1.6 | -3.0 | 1.2 | 9.0 | 10.8 | 9.3 | 13.1 | 11.4 | 6.3 | 4.2 | 3.2 |
| 8.9 | 0.3 | 10.0 | 21.4 | 25.3 | 13.8 | 28.6 | 23.2 | 13.2 | 9.8 | 7.3 |
| 6.2 | -10.6 | 2.8 | 18.7 | 19.6 | 14.4 | 25.2 | 20.3 | 11.1 | 7.3 | 5.1 |
| 1.7 | -3.0 | 1.0 | 8.4 | 11.6 | 8.6 | 16.3 | 13.2 | 6.7 | 4.7 | 3.6 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Sahyadri Industries Limited (SIL), established in 1947, is a leading Indian manufacturer of integrated building solutions. As the flagship company of the Patel Group—backed by over 70 years of industrial legacy—SIL specializes in sustainable, durable, and innovative products for both interior and exterior building systems, including roofing, walling, and false ceiling applications. The company is publicly listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
SIL has evolved from a regional player into a recognized national and international brand, serving over one million customers across India and in global markets across South Asia, the Middle East, Africa, and the UK.
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### **Core Products & Brands**
Sahyadri’s comprehensive portfolio includes over **45 branded products**, with more than **20 categorized as value-added products (VAP)**. Key brands and product lines include:
- **Swastik**: Premium corrugated roofing sheets, including the innovative *Swastik Sil Gold*—the industry’s first colored, designer roofing sheet with enhanced strength, thermal insulation, and resistance to weather and chemical damage.
- **Cemply**: Flat cement fibre sheets compliant with IS 2096:1992 standards, widely used in residential, commercial, and industrial construction.
- **EcoPro**: Sustainable, wood-free, asbestos-free fibre cement boards designed for modern architectural applications such as false ceilings, wall paneling, partitions, and furniture. Available in diverse finishes (Wood, Stone, Brick, Wave), EcoPro serves both structural and aesthetic needs.
- **EcoPro S3**: A dry-construction system that eliminates the need for plastering and curing—reducing water and sand usage—ideal for hilly and remote terrains. Patent pending (Application No. 201921022801).
- **SILBUILD**: Rapid construction solutions gaining global traction for speed, efficiency, and sustainability.
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### **Manufacturing & Operations**
As of November 2025, Sahyadri operates **five manufacturing plants** across four Indian states:
- **Maharashtra**: Chinchwad, Kedgaon
- **Gujarat**: Mahuvej
- **Tamil Nadu**: Perundurai
- **Andhra Pradesh**: Vijayawada
Recent capacity expansions include:
- **72,000 MTPA** non-asbestos cement board facility in Maharashtra (commissioned in FY25)
- **120,000 MTPA** asbestos corrugated sheet plant in **Odisha**, now operational and serving East India (Jharkhand, West Bengal, Bihar, Odisha)
Both projects were funded through a mix of internal accruals and debt (₹95 crore each), with production timelines met as scheduled.
The company maintains strong control over innovation through **in-house design and manufacturing of production machinery**, enhancing operational efficiency and agility.
All plants and headquarters are certified under:
- **ISO 9001:2015** (Quality Management)
- **ISO 14001:2015** (Environmental Management)
- **ISO 45001:2018** (Occupational Health & Safety)
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### **Market Presence & Distribution**
- **Domestic Reach**: Strong foothold in **9–11 Indian states**, including Maharashtra, Gujarat, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, and growing presence in Chhattisgarh and Odisha.
- **Geographic Expansion Goals**: Strategic push into **North and East India** to transition from a western/southern-focused player to a **pan-India presence within 3–5 years**.
- **Distribution Network**: Over **3,000 dealers and distributors** nationwide, supported by branded retail studios—**Swastik Studio** and **EcoPro Studio**—to enhance consumer engagement and promote VAPs.
- **International Footprint**: Exports to **5+ countries** in South Asia, the Middle East, Africa, and the UK.
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### **Sustainability & Innovation**
Sahyadri is committed to environmentally responsible construction:
- Products incorporate **30% fly ash** from thermal power plants, reducing landfill waste.
- **No brick usage** in construction systems, conserving natural resources.
- **Water and sand savings** through dry-construction systems like EcoPro S3.
- **Renewable Energy Involvement**: Operates **nine windmills** in Maharashtra and Rajasthan, generating incremental, stable revenue and showcasing commitment to sustainable energy.
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### **Recent Developments (as of Nov 2025)**
- Successful commissioning of new production lines in **Maharashtra (non-asbestos boards)** and **Odisha (asbestos sheets)**.
- Continued momentum in VAP adoption and retail studio rollout.
- Ongoing R&D in **smart, modular, and green construction systems** to meet evolving urban and eco-conscious demand.
- **EcoPro** gaining traction in design-driven projects across urban and semi-urban India.
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