Shera EnergyShare price, financial results, shareholding and management
- Market cap
- ₹421 cr
- Stock P/E
- 11.4peers 26.3
- Book value
- ₹79
- Price to book
- 2.18
- EV / operating profit
- 7.5
- Market cap to sales
- 0.26
- ROCE · FY26
- 22.2%
- ROE · FY26
- 21.4%
- ROE, 3-year average
- 17.5%
- Operating margin · FY26
- 5.0%peers 7.5%
- Sales growth, 3 years
- 33.1%
- Profit growth, 3 years
- 60.2%
- Debt to equity
- 1.36peers 0.58
- Borrowings
- ₹262 cr
- Interest cover
- 2.4×
- Cash from business / op. profit
- -6%
- Debtor days
- 44
- Pledged
- 0.00%
- Promoter holding
- 62.35%
- Change in promoter holding
- +0.63 pts
- Shareholders
- 1,973
- 52-week high / low
- ₹207 / ₹95
- 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.
Shera Energy share price chart
Close on 6 Nov 2026 · -3.72% on the day · Vol 31,000
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
- -13.3%
- 3 months
- +3.4%
- 6 months
- +10.2%
- 1 year
- +30.4%
- Traded a day, 20 days
- ₹0.89 cr
- Taken for delivery
- 76%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +28% | +68% |
| 3 years, a year | +33% | +60% |
| Latest half, H2 FY26 | +27% | +77% |
About Shera Energy: business, products and customers
Shera Energy makes insulated copper and aluminium wires and strips that are wound inside transformers, motors and electrical panels, along with brass and copper rods and tubes. It is also starting a copper refinery in Zambia, and its shares trade on NSE Emerge.
Shera Energy began in 2003 as a proprietorship in Jaipur and became a company in 2009. It draws, insulates and finishes copper, aluminium and brass into winding wires, strips, rods, tubes and bus bars, made at its own plants and those of two subsidiaries in and around Jaipur. Rajputana Industries, a listed subsidiary, recycles metal scrap into feedstock, and Shera Metal makes bus bars, rods and tubes.
The company sells directly to about three hundred businesses, such as transformer and motor makers, with no dealers, and exports to the Middle East and southern Africa. It holds a Power Grid Corporation vendor approval for transformer conductors up to the 33 kV class.
Read more about the business
Metal is close to nine tenths of what it charges, and the company says it sells first and then buys the metal, so copper and aluminium prices pass through to the customer. Sales therefore rise and fall with metal prices while the profit is the conversion margin on each tonne, which makes margins look thin beside companies that add more value. Holding about two months of stock across three metals ties up cash, much of it funded by bank lines.
In the February 2026 call an analyst named Precision Wires India, KSH International, Ram Ratna Wires and Vidya Wires as larger winding wire makers, and the managing director said Precision and KSH do not work in aluminium. These are the economically comparable listed companies: all turn copper into insulated wire for electrical equipment, while Shera is spread across three metals and recycling.
From the offer document (prospectus, 2023), the investor presentation and call of February 2026, the August 2025 call and the company's announcements to September 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 33% a year over three years.
- It earns a high return on the money it uses: ROCE 22% in FY26.
- The promoters own a large part of the company: 62.35%.
To watch
- First revenue and steady output from the Zambia copper cathode plant, which reported none in the June 2026 quarter (Result filing, 15 July 2026, p.5).
- Start of commercial production on the continuously transposed conductor line, expected around the second quarter of FY27 (Earnings call, February 2026, p.7).
- Whether FY27 sales growth lands in the 40% to 60% range the managing director gave (Earnings call, February 2026, p.12).
- Conversion of the 45 lakh warrants issued to the promoters and two investors (Announcement, 30 June 2026, p.1).
- The promoters' share has come down: 62.35%, from 63.50%.
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.
Shera Energy revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more 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 faster than sales.
Shera Energy half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|
| Sales | 675.93 | 780.64 | 859.40 |
| Expenses | 645.81 | 741.24 | 811.28 |
| Operating profit | 30.12 | 39.41 | 48.13 |
| OPM | 4.5% | 5.0% | 5.6% |
| Interest | 11.06 | 16.96 | 19.94 |
| Depreciation | 3.14 | 3.32 | 3.34 |
| Profit before tax | 17.17 | 21.12 | 29.53 |
| Net profit | 9.98 | 12.02 | 17.70 |
Shera Energy profit and loss
Full years to March, FY19 to FY26 · ₹ crore, consolidated where reported
| FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 466 | 425 | 422 | 524 | 696 | 875 | 1,277 | 1,640 |
| Expenses | 434 | 396 | 389 | 490 | 658 | 824 | 1,218 | 1,552 |
| Operating profit | 32 | 29 | 32 | 34 | 39 | 51 | 59 | 88 |
| OPM | 7.0% | 7.0% | 8.0% | 6.0% | 6.0% | 6.0% | 4.6% | 5.0% |
| Other income | 1 | 1 | 1 | 1 | 1 | 3 | 2 | 7 |
| Interest | 19 | 20 | 21 | 20 | 22 | 30 | 24 | 37 |
| Depreciation | 3 | 4 | 5 | 5 | 5 | 6 | 6 | 7 |
| Exceptional and other items | -1 | · | · | · | · | 1 | -1 | · |
| Profit before tax | 10 | 6 | 7 | 10 | 13 | 19 | 30 | 51 |
| Tax rate | 30.0% | 33.3% | 28.6% | 30.0% | 30.8% | 26.3% | 26.7% | 27.5% |
| Net profit | 7 | 4 | 5 | 7 | 9 | 14 | 22 | 37 |
| EPS ₹ | 3.62 | 2.24 | 2.50 | 3.32 | 3.34 | 5.21 | 7.28 | 12.03 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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.
Shera Energy profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as 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
| FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 7.0% | 7.0% | 8.0% | 6.0% | 6.0% | 6.0% | 4.6% | 5.0% |
| Tax rate | 30.0% | 33.3% | 28.6% | 30.0% | 30.8% | 26.3% | 26.7% | 27.5% |
| ROCE | · | 15.7% | 16.7% | 17.0% | 18.0% | 22.8% | 19.1% | 22.2% |
| ROE | · | 7.2% | 8.4% | 10.9% | 11.5% | 14.3% | 16.9% | 21.4% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Shera Energy debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are now larger 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 about as long to pay as they did in FY24.
Bars below the line are cash going out.
Shera Energy balance sheet
At each 31 March · ₹ crore
| FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 20 | 20 | 20 | 20 | 23 | 23 | 24 | 24 |
| Reserves | 33 | 38 | 41 | 47 | 66 | 84 | 129 | 169 |
| Net worth | 53 | 58 | 61 | 67 | 89 | 107 | 153 | 193 |
| Borrowings | 110 | 111 | 106 | 119 | 113 | 120 | 186 | 262 |
| Other liabilities | 92 | 108 | 127 | 139 | 173 | 217 | 275 | 338 |
| Total liabilities | 255 | 277 | 294 | 325 | 375 | 444 | 614 | 793 |
| Fixed assets | 79 | 87 | 84 | 82 | 84 | 89 | 99 | 109 |
| Capital work in progress | 10 | 2 | 4 | 3 | 2 | 5 | 21 | 63 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 166 | 188 | 206 | 240 | 289 | 350 | 494 | 621 |
| Receivables | · | · | · | · | · | · | 154.79 | 199.03 |
| Inventory | · | · | · | · | · | · | 240.31 | 321.98 |
| Cash | · | · | · | · | · | · | 71.59 | 23.49 |
| Trade payables | · | · | · | · | · | · | 168.76 | 188.12 |
Shera Energy cash flow
₹ crore
| FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 22 | 20 | 30 | 11 | 13 | 38 | -6 | -5 |
| Cash from investing | -7 | -4 | -3 | -6 | -3 | -13 | -33 | -72 |
| Cash from financing | -12 | -16 | -27 | -8 | -7 | -24 | 94 | 24 |
| Net cash flow | 3 | 0 | 0 | -3 | 3 | 1 | 55 | -53 |
| Capital spending | · | · | · | · | · | · | 59.18 | 61.27 |
Working capital
Days
| FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Debtor days | 70 | 81 | 67 | 50 | 50 | 48 | 44 | 44 |
| Inventory days | 47 | 67 | 100 | 108 | 93 | 92 | 75 | 80 |
| Days payable | 70 | 89 | 107 | 94 | 58 | 68 | 53 | 47 |
| Cash conversion cycle | 47 | 58 | 59 | 63 | 84 | 72 | 67 | 77 |
| Working capital days | 5 | 8 | 16 | 19 | 29 | 27 | 17 | 26 |
Shera Energy peers and competitors
Listed SME companies in the same industryBy sales, Shera Energy is number 4 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 |
|---|---|---|---|---|---|---|
| Parmeshwar Metal | 468 | 14.6 | 1,973 | 32 | 2.2% | 0.23 |
| V Marc India | 4,610 | 46.1 | 1,797 | 100 | 11.2% | 0.74 |
| Shera Energy | 421 | 11.4 | 1,640 | 37 | 5.0% | 1.36 |
| Baheti Recycling Industries | 757 | 28.0 | 725 | 27.1 | 8.4% | 2.52 |
| Cosmic CRF | 1,079 | 21.2 | 717 | 51 | 11.0% | 0.30 |
| Supershakti Metaliks | 259 | 9.3 | 705 | 28 | 1.6% | 0.00 |
| Rajputana Industries | 147 | 12.0 | 698 | 12.2 | 4.0% | 0.83 |
| Purv Flexipack | 84 | 24.5 | 660 | 3.4 | 0.2% | 1.51 |
| Divine Power Energy | 1,520 | 56.3 | 626 | 27 | 8.0% | 1.21 |
| Subam Papers | 632 | 70.2 | 584 | 9 | 8.0% | 0.42 |
| Systematic Industries | 603 | 28.7 | 553 | 21 | 7.0% | 0.05 |
| Median of the 10 others | 618 | 26.3 | 702 | 27 | 7.5% | 0.58 |
Shera Energy shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe 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 grown a lot.
Shera Energy 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 | Dec 24 | Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 63.50% | 63.58% | 63.58% | 63.58% | 63.58% | 61.72% | 61.72% | 62.35% |
| Foreign investors (FIIs) | 6.34% | 0.22% | 0.00% | 0.02% | 0.01% | 0.01% | - | - |
| Indian institutions (DIIs) | 0.00% | 0.09% | 0.00% | 0.07% | 0.45% | 0.74% | 0.90% | 0.90% |
| HNIs (over ₹2 lakh each) | - | 11.16% | 10.34% | 7.28% | 7.46% | 8.01% | 8.09% | 9.53% |
| Small holders (up to ₹2 lakh) | - | 15.28% | 16.80% | 18.91% | 17.82% | 16.89% | 16.88% | 16.16% |
| Companies and others | - | 9.67% | 9.28% | 10.14% | 10.68% | 12.63% | 12.41% | 11.06% |
| Number of shareholders | 801 | 1,084 | 1,621 | 2,284 | 2,168 | 2,098 | 2,068 | 1,973 |
The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.
Shera Energy study: the business from its own documents
Read from 15 of the company's own documentsShera Energy so far
From the company's own record
- 17 Feb 2023Listed on NSE Emerge
- 31 March 2026Promoters at 62.35%
- 6 Nov 2024Highest close since listing, ₹209.36
Shera Energy key facts from the filings
Each figure with the document it comes from
- Installed capacity
- 46,750 tonnes
- Consolidated yearly capacity across aluminium, copper and brass products at the end of FY25.Investor presentation, February 2026, p.16
- Capacity use
- 80%
- Share of capacity used in the nine months to December 2025, against 83% a year earlier.Investor presentation, February 2026, p.7
- Metal in the cost
- 89.76%
- Raw material as a share of sales in the nine months to December 2025, so most of the revenue is metal passed through.Earnings call, February 2026, p.5
- Three metals
- 46 : 37 : 17
- Share of FY25 volume from aluminium, copper and brass products; the company can switch machines between copper and aluminium.Investor presentation, February 2026, p.24; Earnings call, February 2026, p.13
- Top ten customers
- 43.17%
- Share of revenue in the half year to September 2022, the latest split the documents give; the top five relationships span more than a decade.Offer document, p.146
Show 5 more facts
- Exports
- 6.91%
- Share of FY25 revenue sold abroad; the rest was sold in India.Investor presentation, February 2026, p.41
- Zambia refinery
- 1,200 tonnes
- Yearly copper cathode capacity of the first phase; the Zambia subsidiary reported no revenue in the June 2026 quarter.Earnings call, February 2026, p.3; Result filing, 15 July 2026, p.5
- Credit rating
- ACUITE A-
- Long term bank loan rating raised from BBB+ in July 2026, on ₹262.6 cr of rated bank facilities.Credit rating letter, 15 July 2026, p.1 to 3
- Warrants
- ₹53.1 cr
- Value of 45 lakh warrants at ₹118 approved in May 2026; 41 lakh of them go to the two individual promoters.Announcement, 15 May 2026, p.1 to 2
- June 2026 quarter
- ₹487.7 cr
- Consolidated revenue, against ₹386.7 cr a year earlier.Result filing, 15 July 2026, p.7
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
In the February 2026 call the managing director said sales growth in FY27 could be anywhere between 40% and 60%, helped by new conductor and fine wire machines that were being installed, and that the top line could double within two years. The company says it plans to grow the Zambia copper cathode plant from its first phase towards 5,000 tonnes a year over the next few years, at a planned cost of ₹300 cr to ₹500 cr, to be funded with equity and debt after a quarter of smooth running. It also said a line for continuously transposed conductors, used in extra high voltage transformers, should start commercial production around the second quarter of FY27.
| What management said | When | What happened |
|---|---|---|
| Zambia production by the end of September 2025, adding about ₹50 cr of revenue in FY26 | August 2025 call | Trial production of about 8.6 tonnes in January 2026; no Zambia revenue in the June 2026 quarter |
| Zambia commercial production to stabilise in the first quarter of FY27 | February 2026 call | The Zambia subsidiary reported no revenue for the June 2026 quarter |
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.
Shera Energy earns a small conversion margin on every tonne of metal it turns into wire, so profit grows mainly with tonnes sold and a richer product mix.
Its weak spots are thin margins, cash locked in stock and dues, rising borrowings, and a Zambia refinery that has been slower to start than the company said.
WatchCan it set its own prices?It charges metal cost plus a conversion margin in a crowded market, so it has little room to raise that margin.
AverageHow strong is it against rivals?Approvals and a three metal range help it keep customers, but larger and older rivals compete for the same work.
AverageWho are its customers?Around three hundred businesses with long relationships, though the top ten took a large share in the latest split given.
WatchDoes it need a lot of money?Metal stock and customer credit need steady bank funding, and the Zambia plans need much more.
AverageCan it keep finding new work?Existing customers keep growing their orders and new products widen the range, but some expected wins have not come.
AverageDo good and bad years swing a lot?Metal price moves pass through, so sales swing more than profit, but sharp price jumps can slow volumes and squeeze margins.
Who runs Shera Energy?
Promoters, directors and officers; tap a name for the background
SNSheikh NaseemPromoter, Chairman and Managing Director · holds 31.46%
Holds a Bachelor of Engineering (Hons.) in electrical engineering from Pt. Ravishankar Shukla University, Raipur. Started a transformer making unit, Shivani Electrical, at Ratangarh in 1998, set up Shera Metals and Engineers in Jaipur in 2002 and formed the company in 2009. Husband of Shivani Sheikh, as the offer document states.
Offer document, p.176 and p.179 to 180; Shareholding pattern, March 2026SSShivani SheikhPromoter and Whole-Time Director · holds 4.17%
Holds a Bachelor of Engineering (Hons.) in electrical engineering from Ravishankar Shukla University, Raipur. Co-founded Shivani Electrical in 1998 and set up S.S. Structure in Jaipur in 2008; oversees group finance planning and hedging.
Offer document, p.176 and p.179; Shareholding pattern, March 2026IIIsha Infrapower Private LimitedCorporate promoter · holds 23.41%
Incorporated in Rajasthan in February 2011 with its registered office at RIICO Industrial Area, Kaladera; Sheikh Naseem and Shivani Sheikh are among its directors.
Offer document, p.176 and p.194 to 195; Shareholding pattern, March 2026NBNaresh BansalChief Financial Officer
Named as Chief Financial Officer in the credit rating letter of July 2026; the documents read give no further background.
Credit rating letter, 15 July 2026, p.2JGJyoti GoyalCompany Secretary and Compliance Officer
An associate member of the Institute of Company Secretaries of India with a Bachelor of Commerce from Rajasthan University; earlier Company Secretary at Concord Drugs, with the company since 2022.
Offer document, p.191 to 192KKKuldeep Kumar GuptaIndependent Director
A chartered accountant in whole-time practice since 1990 with a Bachelor of Commerce from S. S. G. Pareek College, Jaipur, who also passed the cost and works accountants final examination.
Offer document, p.180; Investor presentation, February 2026, p.29VKVekas Kumar GargIndependent Director
A practising Company Secretary since 2016, a registered valuer and an insolvency professional, with commerce degrees from Choudhary Charan Singh University, Meerut.
Offer document, p.179 to 180; Investor presentation, February 2026, p.29Shera Energy 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 ₹859 cr (+27%), net profit ₹17.7 cr (+77%) on H2 FY25.
- Shareholding, 31 March 2026: promoters 61.72% to 62.35%.
Shera Energy announcements
121 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 28, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 28, 2026PDF ↗
- General UpdatesSHERA GROUP Achieves landmark financial performancePDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Analysts/Institutional Investor Meet/Con. Call UpdatesSchedule of meetPDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 28, 2026PDF ↗
- General UpdatesDisclosure under regulation 30 for investment and acquisition made by the companyPDF ↗
- Record Datethat Record date for the purpose of Meeting is 21-Sep-2026PDF ↗
- Outcome of Board MeetingHeld on September 02, 2026PDF ↗
- Investor PresentationInvestor PresentationPDF ↗
Shera Energy annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Shera Energy 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 Shera Energy's data · 10
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- !For FY25, FY26 the exchange filing's profit lines do not add up as read, so the figures shown are from the results page instead.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,44,39,347 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 moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY19 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Shera Energy
What does Shera Energy do?
Shera Energy makes insulated copper and aluminium wires and strips that are wound inside transformers, motors and electrical panels, along with brass and copper rods and tubes. It is also starting a copper refinery in Zambia, and its shares trade on NSE Emerge.
What is the share price of Shera Energy?
₹172 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Shera Energy?
₹421 cr at the close on 6 Nov 2026, on 2,44,39,347 shares.
What is the P/E of Shera Energy?
11.4 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Shera Energy's revenue and profit?
Revenue ₹1,640 cr and profit after tax ₹37 cr in FY26.
Who are the promoters of Shera Energy?
Sheikh Naseem, Shivani Sheikh, Isha Infrapower Private Limited; promoters held 62.35% at 31 March 2026.
What is Shera Energy's website?
www.sheraenergy.com
More SME companies like Shera Energy
Other listed SME companies in industrial products, the closest in size first, each read from its own documents.
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- JD CablesJDCABLES · BSE SME · Industrial ProductsMarket cap ₹385 cr
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Every listed SME company in Industrial Products → · SME companies listed in 2023 →
Built from 3 earnings call transcripts, 3 investor presentations, 3 annual reports, 2 credit rating notes, 2 press releases, 1 offer document, 1 result filing, 121 exchange announcements, 8 shareholding patterns and 8 years of reported results. Every figure carries its source; where the documents are silent, the page says so.