Sealmatic IndiaShare price, financial results, shareholding and management
- Market cap
- ₹519 cr
- Stock P/E
- 54.4peers 15.0
- Book value
- ₹103
- Price to book
- 4.63
- EV / operating profit
- -
- Market cap to sales
- 5.03
- ROCE · FY26
- 12.5%
- ROE · FY26
- 8.9%
- ROE, 3-year average
- 12.5%
- Operating margin · FY26
- 15.0%peers 11.9%
- Sales growth, 3 years
- 20.8%
- Profit growth, 3 years
- -4.6%
- Debt to equity
- 0.08peers 0.29
- Borrowings
- ₹9 cr
- Interest cover
- 14.3×
- Cash from business / op. profit
- -7%
- Debtor days
- 84
- Pledged
- 0.00%
- Promoter holding
- 72.46%
- Change in promoter holding
- +0.02 pts
- Shareholders
- 3,468
- 52-week high / low
- ₹514 / ₹317
- Dividend yield
- Paid
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Sealmatic India share price chart
Close on 6 Nov 2026 · -2.33% on the day · Vol 9,720
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +11.0%
- 3 months
- +18.4%
- 6 months
- +10.5%
- 1 year
- +21.1%
- Traded a day, 20 days
- ₹0.43 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +2% | -40% |
| 3 years, a year | +21% | -5% |
| Latest half, H2 FY26 | -13% | -60% |
About Sealmatic India: business, products and customers
Sealmatic India makes mechanical seals, the precision parts that stop oil, gas and chemicals leaking from pumps, compressors and mixers, for refineries, power plants, ships and factories in India and abroad. Its shares trade on BSE SME.
Sealmatic India designs and makes mechanical seals and the support systems that feed them, from standard cartridge seals to API 682 seals for refineries, metal bellows, split seals and gas lubricated seals. It works from a plant at Mira Road and two units at Kaman near Vasai in Maharashtra, and supplies pump makers (OEMs), overseas distributors and the plants that run the pumps. Founded in 2009, it is led by Umar A. K. Balwa and Mohamed Hanif Chaudhari, who both worked at Burgmann India before.
The business model shapes the numbers in two ways. On big refinery and oil field projects the company supplies the first seal through the pump maker at a deep discount, at times below the cost of raw material, to get its seals installed; it then hopes to earn from spare parts and replacements supplied to the end user for the life of the plant at far higher margins. Until those replacements arrive, project supply pulls margins down, and a wide range of seal types kept in stock ties up a large amount of cash in inventory.
Read more about the business
More than half of sales are exports, mostly to distributors abroad and to Gulf oil and gas projects for ADNOC, KNPC, PDO and others, with sales partners in the UAE, Kuwait, Oman, the USA, Europe and Chile. The managing director describes three much larger multinational seal makers as the main rivals and places Sealmatic in the tier below them; the company's documents name no listed Indian company that does the same work.
What is new: approval for nuclear (ISO 19443) and defence (DGQA) work, orders for Kalvari class submarine seals and for 660 and 800 MW thermal power units, Russian certifications, and a third manufacturing unit that the annual report says was a couple of months away.
From the prospectus (February 2023), the FY26 annual report and the earnings calls of June 2025 and June 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 21% a year over three years.
- It has little debt for its size: debt to equity 0.08.
- The promoters own a large part of the company: 72.46%.
- It paid a dividend in the past year.
To watch
- Start of replacement and spare part sales on seals already supplied, which the company expects from April 2027 (Earnings call, 10 June 2026, p.8 and p.16).
- Sales growth of 15% and an EBITDA margin of 23% to 24% in FY27, as guided by the managing director (Earnings call, 10 June 2026, p.10 and p.11).
- The third manufacturing unit, described as a couple of months away in the FY26 annual report (Annual report FY26, p.36).
- Inventory and operating cash flow, which the company says should improve from FY27 (Earnings call, 10 June 2026, p.12).
- Customers take longer to pay than before: 84 days in FY26, against 68 in FY20.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Sealmatic India revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit fell even as sales rose, so the company kept less from each rupee of sales.
SME companies report every six months. In the latest half, sales were lower than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Sealmatic India half-yearly results
SME companies report every six months · ₹ crore
| H1FY23 | H2FY23 | H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 26 | 32.91 | 37.01 | 34 | 43.93 | 57.04 | 53.63 | 49.43 |
| Expenses | 18 | 25.77 | 28.13 | 29.18 | 34.46 | 43.42 | 44.49 | 43.09 |
| Operating profit | 8 | 7.15 | 8.88 | 4.83 | 9.47 | 13.62 | 9.15 | 6.35 |
| OPM | 31.0% | 21.7% | 24.0% | 14.2% | 21.6% | 23.9% | 17.1% | 12.8% |
| Interest | 0 | 0.17 | 0.19 | 0.15 | 0.17 | 0.22 | 0.24 | 0.25 |
| Depreciation | 0 | 0.73 | 0.92 | 1.15 | 1.43 | 1.76 | 1.93 | 1.89 |
| Profit before tax | 8 | 7.13 | 9.03 | 4.51 | 8.77 | 12.49 | 8.68 | 5.40 |
| Net profit | 5 | 5.55 | 6.59 | 3.26 | 6.46 | 9.46 | 6.50 | 3.82 |
Sealmatic India profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 33 | 35 | 43 | 58.54 | 71.02 | 100.97 | 103.07 |
| Expenses | 25 | 25 | 30 | 43.37 | 57.31 | 77.88 | 88.07 |
| Operating profit | 8 | 10 | 12 | 15.17 | 13.71 | 23.09 | 15 |
| OPM | 24.0% | 29.0% | 29.0% | 25.9% | 19.3% | 22.9% | 15.0% |
| Other income | 0 | 0 | 0 | 1.07 | 2.23 | 1.74 | 2.89 |
| Interest | 0 | 0 | 0 | 0.24 | 0.33 | 0.39 | 1 |
| Depreciation | 1 | 2 | 1 | 1.21 | 2.07 | 3.19 | 4 |
| Exceptional and other items | · | 1 | · | · | · | · | · |
| Profit before tax | 7 | 9 | 11 | 14.80 | 13.54 | 21.27 | 13.31 |
| Tax rate | 28.6% | 33.3% | 27.3% | 25.8% | 27.2% | 25.2% | 28.4% |
| Net profit | 5 | 6 | 8 | 10.98 | 9.86 | 15.91 | 9.53 |
| EPS ₹ | 247 | 325 | 420.50 | 14.93 | 10.89 | 17.58 | 8.86 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 9.0% | 10.0% | 6.0% | 12.0% |
The years to FY22 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Earnings per share before FY23 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Sealmatic India profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 24.0% | 29.0% | 29.0% | 25.9% | 19.3% | 22.9% | 15.0% |
| Tax rate | 28.6% | 33.3% | 27.3% | 25.8% | 27.2% | 25.2% | 28.4% |
| ROCE | · | 41.5% | 39.0% | 26.1% | 15.9% | 21.8% | 12.5% |
| ROE | · | 32.1% | 30.5% | 20.1% | 11.8% | 16.7% | 8.9% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 9.0% | 10.0% | 6.0% | 12.0% |
Sealmatic India debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. It borrowed much more last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Sealmatic India balance sheet
At each 31 March · ₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Equity capital | 0.20 | 0.20 | 0.20 | 9 | 9 | 9 | 11 |
| Reserves | 15 | 22 | 30 | 70 | 79 | 94 | 101 |
| Net worth | 15.20 | 22.20 | 30.20 | 79 | 88 | 103 | 112 |
| Borrowings | 3 | 3 | 1 | 5 | 3 | 5 | 9 |
| Other liabilities | 4.80 | 4.80 | 7.80 | 13 | 19 | 20 | 22 |
| Total liabilities | 23 | 30 | 39 | 97 | 110 | 128 | 143 |
| Fixed assets | 6 | 7 | 9 | 15 | 21 | 29 | 30 |
| Capital work in progress | 0 | 0 | 0 | 0 | 3 | 0 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 17 | 23 | 30 | 82 | 86 | 99 | 112 |
Sealmatic India cash flow
₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | 4 | 5 | 4 | 3 | -8 | -3 | -1 |
| Cash from investing | -3 | -3 | -2 | -44 | 14 | 0 | 3 |
| Cash from financing | 0 | 0 | -2 | 41 | -3 | 0 | 3 |
| Net cash flow | 1 | 2 | 0 | 0 | 3 | -3 | 5 |
| Capital spending | · | · | · | · | · | 6.61 | · |
Working capital
Days
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 68 | 66 | 77 | 80 | 81 | 93 | 84 |
| Inventory days | 192 | 232 | 347 | 399 | 587 | 449 | 523 |
| Days payable | 126 | 99 | 167 | 177 | 212 | 138 | 138 |
| Cash conversion cycle | 134 | 199 | 257 | 301 | 456 | 403 | 469 |
| Working capital days | 108 | 117 | 148 | 162 | 228 | 210 | 227 |
Sealmatic India peers and competitors
Listed SME companies in the same industryBy sales, Sealmatic India is number 80 of the 156 listed SME companies in industrial products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Srivasavi Adhesive Tapes | 125 | 22.4 | 110 | 5.6 | 8.4% | 0.41 |
| Anubhav Plast | 54 | 7.7 | 109 | 7 | 13.0% | - |
| Sabar Flex India | 18 | 70.5 | 104 | 0.3 | 1.8% | 0.29 |
| Sealmatic India | 519 | 54.4 | 103 | 9.5 | 15.0% | 0.08 |
| G M Polyplast | 83 | 10.4 | 103 | 8 | 12.0% | 0.04 |
| Marco Cables & Conductors | 52 | 12.5 | 103 | 4.2 | 12.1% | 1.62 |
| SKP Bearing Industries | 283 | 322.9 | 103 | 0.9 | 9.6% | 0.88 |
| Jyoti Global Plast | 82 | 11.7 | 102 | 7 | 11.8% | 0.39 |
| B. D. Industries (Pune) | 166 | 16.6 | 101 | 10 | 18.0% | 0.25 |
| Neetu Yoshi | 931 | 37.3 | 98 | 25 | 31.0% | 0.03 |
| Wol 3D India | 88 | 13.3 | 97.7 | 6.7 | 9.0% | 0.28 |
| Median of the 10 others | 86 | 15 | 103 | 6.8 | 11.9% | 0.29 |
Sealmatic India shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has grown a lot.
Sealmatic India shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Mar 23 | Sep 23 | Mar 24 | Sep 24 | Mar 25 | Sep 25 | Nov 25 | Mar 26 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 72.38% | 72.38% | 72.38% | 72.38% | 72.44% | 72.44% | 72.44% | 72.46% |
| Foreign investors (FIIs) | 0.65% | 0.00% | 0.00% | 0.00% | 0.39% | 0.00% | 0.00% | - |
| Indian institutions (DIIs) | 4.42% | 3.35% | 2.92% | 0.12% | 0.00% | 0.00% | 0.00% | - |
| Number of shareholders | 1,390 | 1,758 | 2,298 | 3,965 | 4,141 | 3,561 | 3,611 | 3,468 |
Sealmatic India study: the business from its own documents
Read from 7 of the company's own documentsSealmatic India key facts from the filings
Each figure with the document it comes from
- Export share
- 54.4%
- Share of FY26 revenue sold abroad; distributors were the largest export channel.Earnings call, 10 June 2026, p.4 and p.5
- Gulf API seal orders
- 916 seals
- Secured for projects in the UAE, Saudi Arabia, Oman, Kuwait and Iraq; 686 supplied and about 230 still being made.Earnings call, 10 June 2026, p.5
- Cost of below cost supply
- ₹8 cr
- What the company says it gave up in FY26 by supplying project seals below raw material cost, the highest so far.Earnings call, 10 June 2026, p.5 and p.11
- Spare part margin
- About 80%
- Gross margin the managing director gives for replacement seals and spares once project seals are running.Earnings call, 10 June 2026, p.7
- Exhibition spend
- ₹5 cr
- Cost of 14 trade shows abroad and in India in FY26; the company plans only five in FY27.Earnings call, 10 June 2026, p.5 and p.11
Show 5 more facts
- EBITDA margin
- 17.4%
- On total income in FY26, down from about 24% in FY25 after the seal discounts and exhibition costs.Earnings call, 10 June 2026, p.3, p.6 and p.11
- Inventory
- ₹62.7 cr
- Stock at 31 March 2026, up from ₹48.4 cr a year earlier as Gulf deliveries slipped and rare earth items were stocked.Annual report FY26, p.83; Earnings call, 10 June 2026, p.12
- Plants
- 3 units
- Mira Road and two units at Kaman; the Kaman expansion added about 65% to capacity.Annual report FY26, p.9 and p.20; Investor presentation, July 2024, p.4
- Nuclear and defence approvals
- ISO 19443 and DGQA
- Needed to supply nuclear plants and the navy; the company says these orders take years to arrive.Annual report FY26, p.37; Earnings call, 10 June 2026, p.7 and p.16
- Reach
- 63+ countries
- Where its seals are sold, through partners and its own sales teams in six Indian cities and the UAE.Annual report FY26, p.36 and p.48
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The managing director said in June 2026 that the company expects sales to grow by 15% in FY27 and the EBITDA margin to return to 23% to 24%, as exhibition spending falls and fewer seals are supplied below cost. The company expects to add about 300 more API seal orders in FY27, says replacement business on seals already supplied should begin from April 2027 with the bigger part in FY28 and beyond, and says commissioning in the Middle East is running about seven months late. The annual report says a third manufacturing unit was a couple of months away.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Sealmatic India makes engineered seals that plants may only source from approved suppliers, and it is building a base of installed seals that it hopes will bring repeat spare part sales.
Its weak spots are thin margins on project supply, a lot of cash locked in stock, and Gulf projects that have been delayed.
AverageCan it set its own prices?It cuts prices hard to win the first fit on big projects and hopes to earn it back on spares at high margins.
AverageHow strong is it against rivals?Approvals from large oil companies and nuclear and defence bodies set it apart from small rivals, but three far bigger multinationals lead the market.
AverageWho are its customers?Sales are spread over pump makers, distributors and plant owners in many countries, though Gulf projects now matter a great deal.
WatchDoes it need a lot of money?Stock keeps climbing and the business has not turned profit into cash for several years.
AverageCan it keep finding new work?New approvals have opened large Gulf and Indian project work, but nuclear and naval orders take years and project orders slowed in FY26.
WatchDo good and bad years swing a lot?Margins move with how many project seals it supplies below cost and with delays at overseas sites.
Who runs Sealmatic India?
Promoters, directors and officers; tap a name for the background
UAUmar A. K. BalwaPromoter and Managing Director · holds 4.53%
Holds a bachelor's degree from Mumbai University and has over three decades in sealing; was Executive Director, Sales at Burgmann India from 1993 to 2001 and its Managing Director from 2001 to August 2007. A founding member of Sealmatic and a director since 2011; a director of several Balwa group companies.
Prospectus, p.140 and p.143; Annual report FY26, p.41 and p.95MHMohamed Hanif ChaudhariPromoter and Whole Time Director · holds 11.34%
A founding member with over three decades in designing, making and servicing mechanical seals, trained in Germany and Japan; was Assistant Vice President at Burgmann India from 1993 to 2011. A director since 2012 and in charge of setting up the supply chain and product development.
Prospectus, p.140, p.143 and p.156; Annual report FY26, p.41 and p.95RHRafiq H. BalwaPromoter · holds 5.89%
Has over ten years in the hospitality and construction industry and formal education in business management; managed the building of the group's Radisson hotel at Goregaon and a Fairfield by Marriott hotel at Andheri in Mumbai.
Prospectus, p.155 and p.156; Annual report FY26, p.95SUSania Umar BalwaNon Executive Director
Holds a master's degree in marketing and strategy from the University of Warwick and has served as a director at the Balwa group; led the company's digital marketing. The prospectus states that Umar A. K. Balwa and Sania U. Balwa are father and daughter.
Prospectus, p.141, p.142 and p.143RKRatan KandareChief Financial Officer
A chartered accountant, appointed Chief Financial Officer in November 2022.
Prospectus, p.146; Annual report FY26, p.20 and p.41DADeepak Anant GhangurdeIndependent Director
Holds a BCom and LLB from Bombay University and is a certified associate of the Indian Institute of Bankers; worked about 30 years at Bank of India and Syndicate Bank, mostly in loans and advances. Chairs the audit committee.
Prospectus, p.141, p.144 and p.147ABAjoy BalkrishnaIndependent Director
A commerce graduate from Mumbai University with a diploma in hotel management and over 32 years in hospitality, including the Oberoi and Regent hotels in Mumbai and as Regional Director at Sarovar Hotels and Resorts until October 2021.
Prospectus, p.142 and p.144Sealmatic India latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹49.4 cr (-13%), net profit ₹3.8 cr (-60%) on H2 FY25.
- Shareholding, 31 March 2026: promoters 72.44% to 72.46%.
Sealmatic India announcements
2 on record, latest first; each opens the filing on the exchange
Sealmatic India annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Sealmatic India share split, bonus and dividends
From the corporate actions the company announces on the exchange
- DividendFinal Dividend - Rs. - 1.1000ex-date 17 July 2026
- Bonus issueBonus issue 2:10ex-date 21 Nov 2025
- DividendFinal Dividend - Rs. - 1.1000ex-date 25 July 2025
- DividendFinal Dividend - Rs. - 1.1000ex-date 8 Aug 2024
Checks we ran on Sealmatic India's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iBonus issue with ex-date 21 Nov 2025: earlier prices on this page are adjusted to the new share basis.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,08,59,995 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY22 (₹420.50) and FY23 (₹14.93) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY20 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Sealmatic India
What does Sealmatic India do?
Sealmatic India makes mechanical seals, the precision parts that stop oil, gas and chemicals leaking from pumps, compressors and mixers, for refineries, power plants, ships and factories in India and abroad. Its shares trade on BSE SME.
What is the share price of Sealmatic India?
₹478 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Sealmatic India?
₹519 cr at the close on 6 Nov 2026, on 1,08,59,995 shares.
What is the P/E of Sealmatic India?
54.4 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Sealmatic India's revenue and profit?
Revenue ₹103 cr and profit after tax ₹10 cr in FY26.
Who are the promoters of Sealmatic India?
Umar A. K. Balwa, Mohamed Hanif Chaudhari, Rafiq H. Balwa; promoters held 72.46% at 31 March 2026.
What is Sealmatic India's website?
www.sealmaticindia.com
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Built from 3 earnings call transcripts, 2 annual reports, 1 offer document, 1 investor presentation, 2 exchange announcements, 8 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.