Sharvaya MetalsShare price, financial results, shareholding and management
- Market cap
- ₹205 cr
- Stock P/E
- 17.6peers 17.0
- Book value
- ₹76.8
- Price to book
- 2.66
- EV / operating profit
- -
- Market cap to sales
- 0.89
- ROCE · FY26
- 28.5%
- ROE · FY26
- 23.3%
- ROE, 3-year average
- 44.7%
- Operating margin · FY26
- 8.0%peers 8.3%
- Sales growth, 3 years
- 48.6%
- Profit growth, 3 years
- 80.0%
- Debt to equity
- 0.16peers 0.84
- Borrowings
- ₹12 cr
- Interest cover
- 10.3×
- Cash from business / op. profit
- -186%
- Debtor days
- 17
- Pledged
- 0.00%
- Promoter holding
- 61.30%
- Change in promoter holding
- -0.01 pts
- Shareholders
- 472
- 52-week high / low
- ₹222 / ₹78
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Sharvaya Metals share price chart
Close on 6 Nov 2026 · -4.99% on the day · Vol 38,400
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
- +35.4%
- 3 months
- +46.6%
- 6 months
- +79.6%
- 1 year
- +19.2%
- Traded a day, 20 days
- ₹1.09 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +103% | -3% |
| 3 years, a year | +49% | +80% |
| Latest half, H2 FY26 | +97% | -72% |
About Sharvaya Metals: business, products and customers
Sharvaya Metals melts aluminium scrap into alloy blocks and bars for factories, machines battery cases for electric vehicles and has just started making aluminium profiles. Its shares trade on BSE SME.
Sharvaya Metals, set up in 2014 with its plant running since 2017, melts aluminium scrap and ingots at a single factory at Bhalwani in Ahilyanagar district, Maharashtra, and casts them into alloyed ingots, billets and slabs. It also rolls sheets and circles, makes extrusion dies and machines aluminium battery housings for electric vehicles. Its customers are die casters, extruders, raw material suppliers to cookware brands and Tier-1 automotive vendors; in FY25 almost all sales were in Maharashtra, and it had no exports in FY25 or FY26.
Most of what it supplies is metal it has purchased: scrap and ingots, about half imported from the Middle East, the USA and South East Asia, took about 89% of FY26 sales against about 80% in FY25 (our arithmetic). So revenue moves with aluminium prices and tonnes, and profit is a thin spread that widens only with value-added work: the FY25 jump in margin came as battery housings rose to a quarter of sales, and the margin fell back in FY26 as sales doubled. Holding imported scrap and finished metal ties up cash, and bill discounting charges rose sharply in FY26.
Read more about the business
On 5 October 2026 it commissioned a 10-inch extrusion press, the main use of its IPO money, to make profiles in all alloys for defence, aerospace, railways, construction and electric vehicles; it says it developed 2xxx and 7xxx series high-strength extrusions during FY26. On 14 October 2026 the board approved acquiring all the shares of a company the filing names "Success" for about ₹30.2 cr paid in shares, along with a preferential issue of up to 21,00,000 shares and up to 8,11,000 convertible warrants.
The offer document names Maan Aluminium, Manaksia Aluminium and Baheti Recycling Industries as its listed peers, each with several times Sharvaya's FY25 revenue. It describes the industry as fragmented, with organised and unorganised rivals, and says product range, quality and price usually decide orders.
From the red herring prospectus (August 2025), the FY26 annual report, the CARE rating note of October 2024, the press release of 6 October 2026 and the company's BSE filings of 14 October 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 49% a year over three years.
- It earns a high return on the money it uses: ROCE 29% in FY26.
- It has little debt for its size: debt to equity 0.16.
- The promoters own a large part of the company: 61.30%.
To watch
- Ramp up and customer qualifications on the extrusion press inaugurated on 5 October 2026 (press release, 6 Oct 2026, p.1).
- Terms of the share swap for Success and the preferential shares and warrants approved on 14 October 2026; the filing names the target only as Success, and the FY26 annual report lists Success Electronics Private Ltd as a related party (BSE filings, 14 Oct 2026; annual report FY26, p.41).
- Spending of the IPO money still set for plant and machinery, ₹6.2 cr of ₹20.4 cr by March 2026 (offer document, p.85 to 86; annual report FY26, p.29).
- A steady statutory auditor: Pukhraj & Associates audited FY26 after MASD & Co. and Bilimoria Mehta & Co. in 2024, and the secretarial auditor noted delayed filings with the Registrar of Companies (offer document, p.62; annual report FY26, p.17, p.20, p.29).
- It paid no dividend in the past year.
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.
Sharvaya Metals 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 higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Sharvaya Metals half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 41 | 71 | 89.97 | 139.86 |
| Expenses | 35 | 58 | 75.80 | 135.77 |
| Operating profit | 6 | 13 | 14.17 | 4.09 |
| OPM | 16.0% | 18.0% | 15.8% | 2.9% |
| Interest | 1 | 1 | 0.88 | 0.88 |
| Depreciation | 0 | 0 | 0.19 | 0.28 |
| Profit before tax | 6 | 12 | 13.10 | 3.25 |
| Net profit | 4 | 8 | 9.39 | 2.28 |
Sharvaya Metals profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 41 | 70 | 71 | 113 | 229.83 |
| Expenses | 39 | 67 | 68 | 93 | 211.57 |
| Operating profit | 2 | 3 | 4 | 19 | 18.26 |
| OPM | 4.6% | 4.9% | 5.0% | 17.0% | 8.0% |
| Other income | 0 | 0 | 0 | 0 | 0.32 |
| Interest | 1 | 1 | 1 | 2 | 1.76 |
| Depreciation | 0 | 0 | 0 | 0 | 0.47 |
| Exceptional and other items | -1 | · | -1 | · | · |
| Profit before tax | 0 | 2 | 2 | 17 | 16.35 |
| Tax rate | 13.0% | 0.0% | 0.0% | 29.4% | 28.6% |
| Net profit | 0 | 2 | 2 | 12 | 11.67 |
| EPS ₹ | 13.33 | 65 | 2.13 | 16.24 | 13.11 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 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 FY24 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Sharvaya Metals profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 4.6% | 4.9% | 5.0% | 17.0% | 8.0% |
| Tax rate | 13.0% | 0.0% | 0.0% | 29.4% | 28.6% |
| ROCE | · | 14.0% | 14.6% | 65.5% | 28.5% |
| ROE | · | 40.0% | 30.8% | 80.0% | 23.3% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Sharvaya Metals debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Sharvaya Metals balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 3 | 3 | 7 | 8 | 10 |
| Reserves | 1 | 3 | 0 | 15 | 67 |
| Net worth | 4 | 6 | 7 | 23 | 77 |
| Borrowings | 18 | 15 | 13 | 15 | 12 |
| Other liabilities | 3 | 8 | 9 | 10 | 10 |
| Total liabilities | 25 | 29 | 29 | 48 | 99 |
| Fixed assets | 7 | 7 | 8 | 12 | 13 |
| Capital work in progress | 0 | 0 | 0 | 0 | 2 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other assets | 18 | 22 | 21 | 36 | 84 |
Sharvaya Metals cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 0 | 4 | 3 | 2 | -34 |
| Cash from investing | 0 | 0 | -1 | -4 | -3 |
| Cash from financing | -1 | -4 | -3 | 2 | 38 |
| Net cash flow | -1 | 0 | -1 | 0 | 1 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 47 | 41 | 6 | 11 | 17 |
| Inventory days | 108 | 77 | 99 | 122 | 79 |
| Days payable | 17 | 30 | 24 | 10 | 7 |
| Cash conversion cycle | 137 | 88 | 80 | 123 | 89 |
| Working capital days | 49 | 27 | 23 | 54 | 102 |
Sharvaya Metals peers and competitors
Listed SME companies in the same industryBy sales, Sharvaya Metals is number 42 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 |
|---|---|---|---|---|---|---|
| Auro Impex & Chemicals | 51 | 12.3 | 250 | 4.2 | 3.6% | 0.83 |
| Uma Converter | 33 | 10.5 | 249 | 3.2 | 6.3% | 0.97 |
| Visaman Global Sales | 43 | 7.0 | 249 | 6.1 | 5.8% | 1.00 |
| Classic Electrodes (India) | 93 | 7.4 | 243 | 12.6 | 9.3% | 0.20 |
| Prime Cable Industries | 368 | 30.6 | 235 | 12 | 10.0% | 0.85 |
| Krishca Strapping Solutions | 308 | 26.9 | 234 | 11.4 | 12.2% | 0.62 |
| Maiden Forgings | 139 | 27.8 | 232 | 5 | 6.0% | 0.85 |
| Sharvaya Metals | 205 | 17.6 | 230 | 11.7 | 8.0% | 0.16 |
| ANB Metal Cast | 401 | 19.1 | 225 | 21 | 15.0% | 0.49 |
| Aeron Composite | 148 | 17.0 | 222 | 8.7 | 8.7% | 0.53 |
| Vama Wovenfab | - | - | 214 | 12 | 8.0% | 0.86 |
| Median of the 10 others | 139 | 17 | 234 | 10.1 | 8.3% | 0.84 |
Sharvaya Metals 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 is about the same.
Sharvaya Metals 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.
| Sep 25 | Dec 25 | Mar 26 | |
|---|---|---|---|
| Promoters | 61.31% | 61.31% | 61.30% |
| Foreign investors (FIIs) | 6.93% | 2.24% | - |
| Indian institutions (DIIs) | 2.06% | 2.90% | - |
| Number of shareholders | 378 | 402 | 472 |
Sharvaya Metals study: the business from its own documents
Read from 5 of the company's own documentsSharvaya Metals key facts from the filings
Each figure with the document it comes from
- FY26 revenue
- ₹229.8 cr
- More than double FY25's ₹112.5 cr, but EBITDA slipped to ₹18.3 cr from ₹19.3 cr and profit after tax was ₹11.7 cr, slightly lower than FY25.Annual report FY26, p.7 and p.14
- Largest customer
- 60.27%
- Share of FY25 revenue from one customer; the top five took 97.94% and the top ten 99.81%.Offer document, p.146
- General trading
- 60.36%
- Share of FY25 revenue the offer document puts under other general trading, ahead of automotive at 23.79% and construction at 9.39%.Offer document, p.147
- EV battery housings
- ₹28.6 cr
- FY25 sales of machined battery housings, 25.51% of revenue, up from ₹1.4 cr in FY24.Offer document, p.147
- Extrusion press
- 5 Oct 2026
- Date the new 10-inch extrusion line was inaugurated; the IPO plan was for 8,000 tonnes a year of extruded products.Press release, 6 Oct 2026, p.1; offer document, p.90
Show 5 more facts
- Cash from operations
- Minus ₹33.5 cr
- In FY26, against plus ₹1.6 cr in FY25; the outflow includes ₹18.9 cr of IPO money put in bank deposits, which the company shows within other current assets.Annual report FY26, p.32 and p.38
- Metal stock
- ₹44.2 cr
- Inventory at March 2026, up from ₹30.0 cr, about ten weeks of FY26 sales; advances to suppliers rose to ₹7.7 cr from ₹1.5 cr.Annual report FY26, p.38; our arithmetic
- Imports
- ₹83.6 cr
- Value of imports in FY26, up from ₹47.5 cr; the company reported no export sales in either year.Annual report FY26, p.41 and p.42
- New shares approved
- Up to 29,11,000
- Preferential shares and convertible warrants approved on 14 October 2026, against 1,00,30,000 shares now, alongside the share swap for Success.BSE filings, 14 Oct 2026; annual report FY26, p.15; our arithmetic
- Credit rating
- CARE B-
- Issuer not cooperating rating on the bank loans, reaffirmed and then withdrawn at the company's request in October 2024.CARE rating note, 25 Oct 2024, p.1
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
In its offer document the company planned to spend ₹20.4 cr of IPO money on plant and machinery for an extrusion line of 8,000 tonnes a year, plus ₹5.2 cr on civil work and ₹9.0 cr on working capital, all in FY2026. By March 2026 the auditor reported ₹6.2 cr spent on plant and machinery, ₹1.1 cr on civil work, ₹7.5 cr on working capital and ₹7.3 cr on general corporate purposes. The press was commissioned in October 2026, and the Chairman says the focus now is a disciplined ramp up and quick customer qualifications. The company has given no order book or sales guidance.
| What management said | When | What happened |
|---|---|---|
| ₹20.4 cr on plant and machinery in FY2026 | Offer document, Aug 2025 | ₹6.2 cr by March 2026; press commissioned October 2026 |
| ₹5.2 cr on civil construction and electrification in FY2026 | Offer document, Aug 2025 | ₹1.1 cr by March 2026 |
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.
Sharvaya earns a thin margin turning purchased aluminium scrap into alloy blocks and bars, and better margins only on machined and tooled parts.
Its weak spots are a very small group of customers, cash tied up in metal stock, and a new extrusion line that still has to win customers.
WatchCan it set its own prices?Mostly not. It can pass on rises in metal prices, but rivals compete on price and its margin has swung widely from year to year.
WatchHow strong is it against rivals?It is a small, single plant company in a crowded market; its machining, tooling and new extrusion work are what could set it apart.
WatchWho are its customers?A handful of customers take almost everything it makes, and the largest is booked as general trading.
WatchDoes it need a lot of money?Yes, for its size. Metal stock, money owed and advances to suppliers rose with sales, and IPO money is paying for them.
AverageCan it keep finding new work?It has added new products before, and the extrusion press opens new markets, but the documents name no orders or customers for it yet.
WatchDo good and bad years swing a lot?Yes. Because the spread on metal is thin, small changes in prices or product mix move profit a lot.
Who runs Sharvaya Metals?
Promoters, directors and officers; tap a name for the background
SKShreyans KatariyaPromoter, Chairman and Managing Director · holds 54.75%
With the company since it was set up in 2014 and Managing Director for five years from 12 February 2024. B.Com from Savitribai Phule Pune University and a chartered accountant (passed in 2022); the annual report says lean manufacturing and quality systems are among the areas led. Director of Success Electronics Private Limited, a promoter group company, and runs Siddhivinayak Impex. Sold 5,00,000 shares in the IPO; has given a personal guarantee for the bank cash credit and has lent the company ₹0.04 cr. Paid ₹30.0 lakh in FY26.
Offer document, p.177 to 178 and p.192; annual report FY26, p.11, p.34 to 36 and p.41BKBalasaheb KaleExecutive Director
Executive Director since 1 October 2020; Higher Secondary Certificate in Commerce. Earlier work in GST filing, government liaison, photography and book-keeping, and sole proprietor of Photography & Multi Services since 2015. A co-borrower on the company's unsecured business loans in the offer document.
Offer document, p.177 to 179 and p.241; annual report FY26, p.11PMPankaj MahajanNon-Executive Director
On the board since 13 February 2024. B.Com from North Maharashtra University and an MBA in marketing and HR from Global Business School, Jalgaon, with more than ten years in financial and marketing services.
Offer document, p.178 to 179; annual report FY26, p.11SJSurbhi JainIndependent Director
On the board since 22 January 2024. Chartered accountant with B.Com and M.Com degrees from Pt. Ravishankar Shukla University, Raipur; runs the practice Jain Surbhi & Associates, working on income tax and indirect tax cases.
Offer document, p.177 to 179; annual report FY26, p.11LGLakhan GandhiIndependent Director
On the board since 22 January 2024. B.Com from Barkatullah Vishwavidyalaya, Bhopal; President of Operations at Viraat Gift & Electronics until October 2024.
Offer document, p.178 to 179; annual report FY26, p.11SRSandip Ramkisan KondkeChief Financial Officer
CFO since 18 August 2024; B.Com with over 17 years in finance, accounting, taxation and audit.
Annual report FY26, p.11NDNishi Dilip PorwalCompany Secretary and Compliance Officer
In the role since 1 December 2023; commerce graduate and associate member of the Institute of Company Secretaries of India, with over four years in secretarial and compliance work.
Annual report FY26, p.11Sharvaya Metals 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 ₹140 cr (+97%), net profit ₹2.3 cr (-72%) on H2 FY25.
- Shareholding, 31 March 2026: promoters 61.31% to 61.30%.
Sharvaya Metals announcements
10 on record, latest first; each opens the filing on the exchange
- Company UpdateCertificate pursuant to Reg. 74(5) of SEBI (DP) regulations for quarter and half year ended 30.09.2026PDF ↗
- Company UpdateTo issue and allot upto 21,00,000 fully paid up equity shares on preferential basisPDF ↗
- Company UpdateRaising funds through fully convertible warrants and Preferential issue of Equity shares on private placement basisPDF ↗
- Company UpdateTo create, offer, issue and allot up to and deliver in one or more tranches upto 8,11,000 (Eight Lakhs Eleven Thousand) fully Convertible warrants of face valuePDF ↗
- Company UpdateApproved acquisition of 100% share capital of Success through share swap (i.e non-cash consideration basis), for the total consideration of about INR 30,24,00,0PDF ↗
- Board MeetingOutcome of the Board meeting held on 14/10/2026PDF ↗
- Board MeetingSharvaya Metals Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/10/2026 ,inter alia, to consider and approve 1.PDF ↗
- Company UpdatePRESS RELEASE- SHARVAYA METALS LTD SUCESSFULLY COMMISSIONS 10-INCH ALUMINIUM EXTRUSION PRESS, COMPLETING ITS ALLOY-TO-COMPONENT VALUE CHAINPDF ↗
- Insider Trading / SASTTrading window ClosurePDF ↗
- AGM/EGMOutcome of 12th Annual General meetingPDF ↗
Sharvaya Metals annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Sharvaya Metals share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Sharvaya Metals' data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,00,30,000 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 FY23 (₹65.00) and FY24 (₹2.13) 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, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Sharvaya Metals
What does Sharvaya Metals do?
Sharvaya Metals melts aluminium scrap into alloy blocks and bars for factories, machines battery cases for electric vehicles and has just started making aluminium profiles. Its shares trade on BSE SME.
What is the share price of Sharvaya Metals?
₹205 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Sharvaya Metals?
₹205 cr at the close on 6 Nov 2026, on 1,00,30,000 shares.
What is the P/E of Sharvaya Metals?
17.6 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Sharvaya Metals' revenue and profit?
Revenue ₹230 cr and profit after tax ₹12 cr in FY26.
Who are the promoters of Sharvaya Metals?
Shreyans Katariya; promoters held 61.30% at 31 March 2026.
What is Sharvaya Metals' website?
www.sharvayametals.com
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Built from 2 annual reports, 1 offer document, 1 credit rating note, 1 press release, 10 exchange announcements, 3 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.