Sheetal UniversalShare price, financial results, shareholding and management

NSE Emerge · SHEETALPeanut and seed processingListed 11 Dec 2023
sheetaluniversal.com ↗Live price on NSE ↗ISIN INE04VX01019 · Lot 500 shares · ₹1.99 lakh
₹397.20
+3.20% on the day
Close · 6 Nov 2026
Valuation
Market cap
₹476 cr
Stock P/E
41.3peers 12.5
Book value
₹45.7
Price to book
8.69
EV / operating profit
27.0
Market cap to sales
2.74
Returns and growth
ROCE · FY26
22.5%
ROE · FY26
23.3%
ROE, 3-year average
19.0%
Operating margin · FY26
10.8%peers 5.3%
Sales growth, 3 years
10.4%
Profit growth, 3 years
79.2%
Safety
Debt to equity
0.70peers 0.70
Borrowings
₹38.1 cr
Interest cover
7.2×
Cash from business / op. profit
-70%
Debtor days
88
Pledged
0.00%
Ownership and share
Promoter holding
64.32%
Change in promoter holding
-1.00 pts
Shareholders
577
52-week high / low
₹401 / ₹135
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.

Sheetal Universal share price chart

₹397.20+180.71% 1 year

Close on 6 Nov 2026 · +3.24% on the day · Vol 19,000

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
+47.7%
1 year
+180.7%
Traded a day, 20 days
₹0.20 cr
Taken for delivery
64%

Business growth

Sales and net profit, from the reported results

SalesProfit
FY26 on FY25+64%+24%
3 years, a year+10%+79%
Latest half, H2 FY26+169%+25%

About Sheetal Universal: business, products and customers

Sheetal Universal cleans, sorts and packs peanuts, sesame seeds, spices and pulses at a plant near Jamnagar in Gujarat and sells them in bulk, at home and abroad. It has started selling flavoured nuts under its own Sheetal name, and its shares trade on NSE Emerge.

The company was set up in Rajkot in 2015 and began its own peanut processing line in 2017, adding sesame and spices in 2018. It buys raw peanuts and seeds through agents and traders in the Saurashtra growing belt, then cleans, destones, colour sorts and grades them for food companies and traders; the plant is certified to export peanuts to the European Union. The offer document lists the Russian Federation, Indonesia, Malaysia, Vietnam, the UAE, Iran, Algeria, Israel, Turkey and Egypt as markets.

Because the business turns a farm crop into a cleaned bulk commodity, raw material is almost all of the cost, and margins depend on the spread between crop prices and selling prices, on the rupee for export sales, and on export incentives. Stock is bought at harvest and held, so inventory and borrowings rise and fall with the crop, and a good or poor crop can move both volumes and margins.

Read more about the business

The mix changed sharply in FY26: domestic sales became the larger part of revenue while export sales fell. The company launched a line of flavoured nuts, signed a small marketing tie-up with a gym chain in September 2026, and in March 2026 set up Helios Global LLC in Russia to import and trade food products, which had not started business by March 2026. It also has two Indian subsidiaries, Saumesvar International and Svar Industries.

The offer document says the company has no comparable listed peer. CRISIL describes its location near the Rajkot market yards and the Mundra, Pipavav and Kandla ports as an advantage for an exporter.

From the offer document (Prospectus, 2023), the annual reports for FY25 and FY26, CRISIL's rating notes of August 2024 and October 2025 and the company's announcements of 2025 and 2026.

Read the deeper study ↓

In its favour

  • It earns a high return on the money it uses: ROCE 23% in FY26.
  • The promoters own a large part of the company: 64.32%.

To watch

  • Delivery of the September 2026 peanut export order within a month (Announcement, 23 September 2026, p.2).
  • Conversion of the 11,59,000 outstanding warrants by October 2027 (Annual report FY26, p.34).
  • Start of business at Helios Global LLC in Russia (Annual report FY26, p.35 and p.51).
  • Whether the peanut protein powder and cold pressed oil line planned in the offer document is reported as installed (Offer document, p.85 to 87).
  • Customers take longer to pay than before: 88 days in FY26, against 50 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.

Sheetal Universal revenue and profit growth

Half-yearly results · Profit and loss

Sales have grown steadily. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.

Sales and net profit, every year, ₹ crore
SalesNet profit
050100150200Sales, FY20: 55 ₹ cr55Net profit, FY20: 0 ₹ cr0FY20Sales, FY21: 38 ₹ cr38Net profit, FY21: 0 ₹ cr0FY21Sales, FY22: 39 ₹ cr39Net profit, FY22: 0 ₹ cr0FY22Sales, FY23: 129 ₹ cr129Net profit, FY23: 2 ₹ cr2FY23Sales, FY24: 132 ₹ cr132Net profit, FY24: 2 ₹ cr2FY24Sales, FY25: 106 ₹ cr106Net profit, FY25: 9.3 ₹ cr9.3FY25Sales, FY26: 174 ₹ cr174Net profit, FY26: 11.5 ₹ cr11.5FY26
The latest halves, ₹ crore
SalesNet profit
050100150Sales, H1FY24: 64 ₹ cr64Net profit, H1FY24: 1 ₹ cr1H1FY24Sales, H2FY24: 71 ₹ cr71Net profit, H2FY24: 1 ₹ cr1H2FY24Sales, H1FY25: 61 ₹ cr61Net profit, H1FY25: 1 ₹ cr1H1FY25Sales, H2FY25: 46.7 ₹ cr46.7Net profit, H2FY25: 8 ₹ cr8H2FY25Sales, H1FY26: 48.1 ₹ cr48.1Net profit, H1FY26: 1.5 ₹ cr1.5H1FY26Sales, H2FY26: 126 ₹ cr126Net profit, H2FY26: 10 ₹ cr10H2FY26

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.

Sheetal Universal half-yearly results

SME companies report every six months · ₹ crore

₹ crore · growth on the same half a year before
H1FY24H2FY24H1FY25H2FY25H1FY26H2FY26
Sales64716146.6548.08125.68
Expenses61685834.2043.57111.45
Operating profit23312.454.5114.23
OPM3.3%4.5%5.0%26.7%9.4%11.3%
Interest1111.121.121.38
Depreciation0000.761.581.52
Profit before tax12211.332.0413.34
Net profit1117.971.529.98

Sheetal Universal profit and loss

Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Sales553839129132105.67173.76
Expenses55383912712991.83155.03
Operating profit0001213.8418.74
OPM-0.6%0.1%0.4%1.2%1.9%13.1%10.8%
Other income211332.392.24
Interest000112.012.49
Depreciation100111.163.11
Exceptional and other items·-1-11···
Profit before tax1003313.0715.38
Tax rate100.0%19.0%31.0%33.3%33.3%28.8%25.2%
Net profit000229.3011.51
EPS ₹1.170.710.805.691.828.1210.05
Dividend payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%

The years to FY24 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.

A tax rate above 60% or below zero (FY20) comes from tax charged on a small or negative profit, as reported.

Sheetal Universal profitability

Margins and returns on capital

Last 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

-5%0%5%10%15%FY20: -0.6%-0.6%FY20FY21: 0.1%0.1%FY21FY22: 0.4%0.4%FY22FY23: 1.2%1.2%FY23FY24: 1.9%1.9%FY24FY25: 13.1%13.1%FY25FY26: 10.8%10.8%FY26
Per cent
FY20FY21FY22FY23FY24FY25FY26
Operating margin-0.6%0.1%0.4%1.2%1.9%13.1%10.8%
Tax rate100.0%19.0%31.0%33.3%33.3%28.8%25.2%
ROCE·0.0%0.0%22.2%11.4%26.2%22.5%
ROE·0.0%0.0%33.3%9.8%23.9%23.3%
Dividend payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Sheetal Universal debt and cash flow

Balance sheet · Cash flow · Working capital

The company's own money, its net worth, has grown fast. 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. 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.

Its own money and its borrowings, ₹ crore
Net worthBorrowings
0204060Net worth, FY20: 4 ₹ cr4Borrowings, FY20: 6 ₹ cr6FY20Net worth, FY21: 5 ₹ cr5Borrowings, FY21: 6 ₹ cr6FY21Net worth, FY22: 5 ₹ cr5Borrowings, FY22: 10 ₹ cr10FY22Net worth, FY23: 7 ₹ cr7Borrowings, FY23: 14 ₹ cr14FY23Net worth, FY24: 34 ₹ cr34Borrowings, FY24: 15 ₹ cr15FY24Net worth, FY25: 43.8 ₹ cr43.8Borrowings, FY25: 22.2 ₹ cr22.2FY25Net worth, FY26: 54.8 ₹ cr54.8Borrowings, FY26: 38.1 ₹ cr38.1FY26
Cash from the business against net profit, ₹ crore
Cash from the businessNet profit
-30-20-1001020Cash from the business, FY20: -2 ₹ cr-2Net profit, FY20: 0 ₹ cr0FY20Cash from the business, FY21: 0 ₹ cr0Net profit, FY21: 0 ₹ cr0FY21Cash from the business, FY22: 2 ₹ cr2Net profit, FY22: 0 ₹ cr0FY22Cash from the business, FY23: -3 ₹ cr-3Net profit, FY23: 2 ₹ cr2FY23Cash from the business, FY24: -27 ₹ cr-27Net profit, FY24: 2 ₹ cr2FY24Cash from the business, FY25: 10.1 ₹ cr10.1Net profit, FY25: 9.3 ₹ cr9.3FY25Cash from the business, FY26: -13 ₹ cr-13Net profit, FY26: 11.5 ₹ cr11.5FY26

Bars below the line are cash going out.

Sheetal Universal balance sheet

At each 31 March · ₹ crore

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Equity capital44441111.4611.46
Reserves01132332.3843.32
Net worth45573443.8454.77
Borrowings6610141522.1738.11
Other liabilities521725.9134.57
Total liabilities151316285171.92127.45
Fixed assets4334519.4516.75
Capital work in progress0002000
Investments000000.060.06
Other assets111013224652.41110.64
Receivables·····21.6841.86
Inventory·····17.1847.59
Cash·····0.428.71
Trade payables·····1.9326.47

Sheetal Universal cash flow

₹ crore

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Cash from operations-202-3-2710.06-13.04
Cash from investing000-3-1-15.18-0.12
Cash from financing3-13326512.88
Net cash flow1-15-3-2-0.12-0.28
Capital spending·····15.180.40

Working capital

Days

Days
FY20FY21FY22FY23FY24FY25FY26
Debtor days50422831627588
Inventory days143435201874116
Days payable352016232864
Cash conversion cycle2956472978140139
Working capital days1130-166667575

Sheetal Universal peers and competitors

Listed SME companies in the same industry

By sales, Sheetal Universal is number 13 of the 37 listed SME companies in agricultural food & other 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.

CompanyMarket cap ₹ crP/ESales ₹ crProfit ₹ crOp. marginDebt/equity
Vandan Foods2121.426012.0%0.52
Swasth Foodtech India10-211-10.0%0.95
Nirman Agri Genetics221.319717.69.6%0.00
Sheetal Universal47641.317411.510.8%0.70
M.R.Maniveni Foods5212.916744.7%1.00
Solvex Edibles14-15404.9%1.45
Ambo Agritec2120.913012.9%0.46
Vishwas Agri Seeds3817.71142.17.6%0.93
Upsurge Seeds Of Agriculture9112.11107.512.8%0.87
Farm Peace8811.790.57.513.8%0.26
Stanbik Agro358.085.94.45.6%0.00
Median of the 10 others2912.51423.15.3%0.70

Sheetal Universal shareholding pattern

Promoters, FIIs, DIIs, HNIs and small holders

The promoters own more than half the company, a little less than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders has come down.

Promoters
64.32%
-2.49 pts since Dec 23
Foreign investors (FIIs)
1.67%
+1.37 pts since Dec 23
Indian institutions (DIIs)
0.25%
-0.29 pts since Dec 23
HNIs (over ₹2 lakh each)
8.34%
+4.83 pts since Dec 23
Small holders (up to ₹2 lakh)
10.36%
-13.25 pts since Dec 23
Companies and others
15.06%
+9.83 pts since Dec 23
Number of shareholders
577
1,402 in Dec 23

Sheetal Universal 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.

Dec 23Mar 24Sep 24Mar 25Sep 25Mar 26Jul 26Sep 26
Promoters66.81%66.81%66.81%66.81%66.81%66.81%65.32%64.32%
Foreign investors (FIIs)0.30%0.00%0.00%0.00%--0.85%1.67%
Indian institutions (DIIs)0.54%0.00%0.00%0.00%---0.25%
HNIs (over ₹2 lakh each)3.51%8.05%7.35%5.38%6.16%6.35%7.78%8.34%
Small holders (up to ₹2 lakh)23.61%15.56%13.43%12.03%9.33%9.09%10.82%10.36%
Companies and others5.23%9.58%12.41%15.78%17.70%17.75%15.23%15.06%
Number of shareholders1,402622547434317362559577

The named holders are at 18 Sept 2026, beside 23 July 2026, each under the group the pattern files them in.

Sheetal Universal study: the business from its own documents

Read from 7 of the company's own documents

Sheetal Universal so far

From the company's own record

  1. 11 Dec 2023Listed on NSE Emerge
  2. 23 Sept 2026An order announced
  3. 30 Sept 2026Promoters at 64.32%
  4. 6 Nov 2026Highest close since listing, ₹397.20

Sheetal Universal key facts from the filings

Each figure with the document it comes from

Domestic sales
₹119.7 cr
FY26 domestic sales, about 71% of standalone revenue, up from ₹27.5 cr; export sales fell to ₹49.2 cr from ₹78.1 cr. Reported results; our arithmetic.Annual report FY26, p.91
Stock held
₹47.6 cr
Inventory at March 2026, against ₹17.2 cr a year earlier.Annual report FY26, p.81
Old customer dues
₹7.8 cr
Trade receivables outstanding for more than a year at March 2026, out of ₹36.5 cr owed in all. Reported results; our arithmetic.Annual report FY26, p.95
Top ten customers
72.41%
Share of sales in April to August 2023, with the largest single customer at 27.19%.Offer document, p.100
Peanut plant capacity
18,000 tonnes
Yearly capacity; it was 74% used in FY23 and 24% in FY22, and no later use figure has been published.Offer document, p.100 and p.144
Show 5 more facts
Credit rating
Not cooperating
CRISIL moved its BB+ rating to issuer not cooperating in October 2025 after the company did not share information.CRISIL rating rationale, 23 October 2025, p.1
Warrants
14,20,000 at ₹210
Issued in May 2026 to promoters and others for up to ₹29.8 cr; 11,59,000 remain to be converted by October 2027.Annual report FY26, p.33 to 34
Export order
US$1.22 mn
Order of September 2026 from a Dubai trader for 1,000 tonnes of red skin peanut kernels, to be delivered within a month, about ₹11.5 cr.Announcement, 23 September 2026, p.1 to 2
Auditor change
August 2025
V.V. Patel & Co resigned as statutory auditor on 2 August 2025; Sunit M. Chhatbar & Co was appointed in its place.Annual report FY26, p.3 and p.39
Unspent CSR
₹0.09 cr
The first year's CSR obligation was not spent in FY26, noted by the secretarial auditor; the company says it later transferred the sum to PM CARES.Annual report FY26, p.40

What the company said, and what happened

The company's own statements, attributed, set against what it later reported; not newboard's estimates

The company gives no sales or profit guidance. It says it plans to widen its product range, build direct links with farmers and explore markets abroad through its new Russian subsidiary, which had not begun operations by March 2026. A September 2026 export order is due for delivery within a month.

₹11.5 crExport orderSeptember 2026, one month
11,59,000Warrants still to convertBy October 2027

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.

Sheetal Universal earns a spread on peanuts and seeds it buys from the farm belt, cleans and sells in bulk, now more at home than abroad.

Its weak spots are crop and currency swings, a few large buyers, rising stock and customer dues, and a rating agency that no longer gets information from it.

WatchCan it set its own prices?It sells a bulk farm commodity, so prices follow crops and competing sellers.
The evidence. The annual report names competitive pricing pressure, raw material prices and foreign exchange as the main threats to margins.Annual report FY26, p.49
AverageHow strong is it against rivals?It sits close to where peanuts are grown and shipped and holds export certifications, but has nothing a rival could not match.
The evidence. CRISIL cites its location near the Rajkot market yards and Gujarat ports; the plant is certified for peanut exports to the European Union.CRISIL rating rationale, August 2024, p.5; Offer document, p.17
WatchWho are its customers?A handful of bulk buyers take most of what it sells.
The evidence. The top ten customers gave 72.41% of sales and the largest one 27.19% in April to August 2023.Offer document, p.100
WatchDoes it need a lot of money?Little goes into the plant, but crop stock and customer credit tie up a lot of cash.
The evidence. Inventory rose from ₹17.2 cr to ₹47.6 cr and receivables from ₹21.5 cr to ₹36.5 cr in FY26, and debt to equity rose from 0.50 to 0.69.Annual report FY26, p.50 and p.81
AverageCan it keep finding new work?It wins bulk orders and has moved into branded flavoured nuts, though export sales shrank in the latest year.
The evidence. A US$1.22 mn export order came in September 2026 and a flavoured nuts line was launched; export sales fell from ₹78.1 cr to ₹49.2 cr.Announcement, 23 September 2026, p.1; Annual report FY26, p.49 and p.91
WatchDo good and bad years swing a lot?Crop size, weather and the rupee move both how much it processes and what it earns.
The evidence. Peanut plant use swung from 43% to 24% to 74% between FY21 and FY23, and CRISIL flags climate, raw material and currency risk.Offer document, p.100; CRISIL rating rationale, August 2024, p.5 to 6

Who runs Sheetal Universal?

Promoters, directors and officers; tap a name for the background

HVHiren Vallabhbhai PatelPromoter, Chairman and Managing Director · holds 47.53%

Holds an MBA in International Business with more than 10 years in food processing and marketing; on the board since the company was formed in August 2015 and Managing Director since November 2016. Proposed for reappointment to November 2031. Spouse of Kajal Hiren Patel, as the annual report states.

Annual report FY26, p.19, p.21 and p.24; Offer document, p.169; Shareholding pattern, September 2026
KHKajal Hiren PatelPromoter and Whole-time Director · holds 9.76%

Holds a Master of Arts and has 8 years in staff management; on the board since August 2015 and Whole-time Director since November 2016, looking after human resources.

Annual report FY26, p.26; Offer document, p.169; Shareholding pattern, September 2026
NSNishant Shavjibhai RamaniNon-Executive Director

A director since the company was formed in 2015, with a Master of Arts in Psychology from Saurashtra University and 8 years in the ceramic industry; looks after branding, marketing and export bag design.

Annual report FY26, p.31; Offer document, p.169
MPMadhav Prabhudas RajpopatChief Financial Officer

CFO since before the public issue; the documents give no further background.

Annual report FY26, p.3; Offer document, p.4
JGJagrutiben Ghanshyambhai ViraniIndependent Director

Appointed in July 2023 for five years; the offer document records three months of experience in the agri commodity business at that time.

Offer document, p.169
VSVishal ShahIndependent Director

Appointed in July 2023 for five years; the offer document records three months of experience in the agri commodity business at that time.

Offer document, p.170

Sheetal Universal latest news and announcements

Announcements · Documents · Corporate actions

What changed recently

Each half-year is set against the same half a year earlier

  • H2 FY26: sales ₹126 cr (+169%), net profit ₹10 cr (+25%) on H2 FY25.
  • Shareholding, 30 Sept 2026: promoters 65.32% to 64.32%.
  • 23 Sept 2026: an order announced.

Sheetal Universal announcements

66 on record, latest first; each opens the filing on the exchange

Sheetal Universal annual reports, earnings calls and documents

Every document links to its source; “read” marks those this page is built from

Sheetal Universal share split, bonus and dividends

From the corporate actions the company announces on the exchange

  • DividendDIVIDEND - RE 0.50 PER SHAREex-date 24 Sept 2025
Checks we ran on Sheetal Universal'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.

  • ✓Balance sheet totals add up for FY25 and FY26.
  • ✓Market cap uses the share count in the latest shareholding pattern (1,19,75,999 shares).
  • ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
  • ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
  • ✓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 (₹5.69) and FY24 (₹1.82) 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 Sheetal Universal

What does Sheetal Universal do?

Sheetal Universal cleans, sorts and packs peanuts, sesame seeds, spices and pulses at a plant near Jamnagar in Gujarat and sells them in bulk, at home and abroad. It has started selling flavoured nuts under its own Sheetal name, and its shares trade on NSE Emerge.

What is the share price of Sheetal Universal?

₹397 at the close on 6 Nov 2026, from the exchange's daily figures.

What is the market cap of Sheetal Universal?

₹476 cr at the close on 6 Nov 2026, on 1,19,75,999 shares.

What is the P/E of Sheetal Universal?

41.3 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).

What are Sheetal Universal's revenue and profit?

Revenue ₹174 cr and profit after tax ₹12 cr in FY26.

Who are the promoters of Sheetal Universal?

Hiren Vallabhbhai Patel, Kajal Hiren Patel; promoters held 64.32% at 30 Sept 2026.

What is Sheetal Universal's website?

www.sheetaluniversal.com

More SME companies like Sheetal Universal

Other listed SME companies in agricultural food & other products, the closest in size first, each read from its own documents.

Every listed SME company in Agricultural Food & other Products → · SME companies listed in 2023 →

Built from 3 annual reports, 2 credit rating notes, 1 offer document, 1 result filing, 66 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.