Saakshi Medtech & Panels share price today

Saakshi Medtech & Panels Ltd's share price was ₹372.75 at the close on 5 November 2026. It has been rising for 40 weeks. That is 32.1% above its average price over the last 200 trading days. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 16 weeks in a row.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Saakshi Medtech & Panels Ltd is in stage 2. The phase helps read everything below.

Since its first close in our records, on 8 May 2026, it has traded between ₹231 and ₹377, and at that close it sat 97% of the way up from that low.

Over the last 6 months the share price moved +39% while the NIFTY 500 moved −3%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

6 points in one quarter, operating margin up 12 points on a year earlier and number of shareholders down 34% in a year.

1. Promoters cut their stake by 7.6 points in one quarter

   From 74.8% to 67.2% in the September 2026 quarter.

2. Operating margin up 12 points on a year earlier

   20% in the March 2026 quarter, from 8%.

3. Number of shareholders down 34% in a year

   1,259 shareholders in the September 2026 quarter, against 1,913 a year earlier.

For January to March 2026 (the quarter ended 31 March 2026), Saakshi Medtech & Panels reported revenue of ₹57.0 crore, up 18.8% from ₹48.0 crore a year earlier, and a profit of ₹6.00 crore, up 500.0% from ₹1.00 crore.

Saakshi Medtech & Panels results: January to March 2026 against a year earlier

The next results, for April to June 2026, were due by 14 August 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). This page shows them once our weekly data update has read them.

The newest call in our records is from 28 November 2025, about July to September 2025; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 31 March 2026). Revenue and profit in ₹ crore.

Saakshi Medtech & Panels closed at ₹372.75 on 5 November 2026. Its highest weekly close since May 2026 was ₹377.00 on 16 October 2026.

Saakshi Medtech & Panels share price: then and now

Weekly closing prices. Each change is the move from that price to the 5 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

29 weekly closes from 8 May 2026 to 5 November 2026.

5 Nov 2026: Saakshi Medtech & Panels closed at ₹372.75, up 2.7% on the week and up 4.1% on the month. Results for January to March 2026: Revenue up 18.8% and profit up 500.0% on a year earlier.

Earlier

• 28 Nov 2025: Saakshi Medtech & Panels held its results call for July to September 2025.

Saakshi Medtech & Panels has paid no dividend on the NSE since its first NSE close in our records (8 May 2026), the start of the period we checked.

No. Saakshi Medtech & Panels Ltd paid out 0% of its profit as dividends in each of its last 7 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2025, held on 28 November 2025, Saakshi Medtech & Panels' management spoke about the quarter; the main points are below.

“This facility is a platform for scaling up, optimizing for a high mix and a high value manufacturing. The relocation is underway; the transition to the new 41,000 square feet integrated facility is on schedule, bringing some of our major operations under one roof. …”Anikhet Ladkar, Chairman and Managing Director, on the call for July to September 2025

Source: the call transcript.

From the call for July to September 2025, 28 November 2025. The January to March 2026 results are out since, so this part may be out of date until we update it.

What is changing at Saakshi Medtech & Panels, from the latest results and calls: aerospace production and qualification, integrated facility consolidation and radiator and heat-exchanger opportunity.

• Aerospace production and qualification. Aerospace moved from qualification work into serial production, with further customer onboarding under way. ⚠ estimate
• Integrated facility consolidation. The new facility can combine operations, remove rental expense and support higher-value manufacturing. ⚠ estimate
• Radiator and heat-exchanger opportunity. Radiators can diversify revenue once facility capacity and customer orders convert. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the January to March 2026 results, written 19 July 2026.

Management said that typical order-book visibility was only three months.

• Management said that a customer order book remained to be executed over the next four years. ✓ fact

Our read after the January to March 2026 results, written 19 July 2026.

If operating profitability falls back toward the FY25 trough while inventory and cash absorption continue after facility completion, the recovery thesis would be invalidated.

Each change stops working if

• Aerospace production and qualification: Existing aerospace production does not grow and additional customer qualifications do not convert into production orders.
• Integrated facility consolidation: The facility does not reduce operating friction or requires additional debt-funded capital spending beyond the stated remaining work.
• Radiator and heat-exchanger opportunity: Customer order conversion remains delayed after facility capacity becomes available.

The main risks

• Working-capital and cash absorption: Capital spending and inventory intensity can delay conversion of the operating recovery into free cash flow. ✓ fact
• Disclosure inconsistency: Conflicting statements on asset utilisation, revenue outlook and backlog limit confidence in forward estimates. ✓ fact
• Short margin history: The margin recovery is positive, but the available history is too short to establish a durable normal margin. ✓ fact

Our read after the January to March 2026 results, written 19 July 2026.

When Saakshi Medtech & Panels reports April to June 2026, these are the 3 checks that show whether the story is still on course. First: Operating cash flow remains below reported net profit after facility completion.

Saakshi Medtech & Panels is on one of our India lists: Momentum stocks.

Saakshi Medtech & Panels Ltd earned ₹6.0 Cr of net profit in the Mar 2026 quarter, +500.0% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹12.0 Cr. Over 6 years profit has grown 12.2% a year on average. That is 10.5% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹6.0 Cr.

For the full year, FY26 profit was ₹12.0 Cr (+140.0% on the year before).

Why profit moved: revenue changed +18.8% on a year earlier and the margin moved +12.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +125.0% and revenue +0.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY26-Q2. revenue ₹58 Cr and profit ₹7 Cr as reported.

FY26-Q4. revenue ₹57 Cr and profit ₹6 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

Saakshi Medtech & Panels Ltd reported ₹57.0 Cr of revenue in the Mar 2026 quarter, +18.8% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 6 years it has grown 11.3% a year on average. The last full year, FY26, came in at ₹116 Cr.

Revenue is everything the company billed its customers in the period.

FY26 revenue was ₹116 Cr, +26.1% on the year before.

Recent pace: the last four quarters grew +0.3% on average, against 11.3% a year over the longer run, so this year is growing slower than its own long-run rate.

FY26-Q2. revenue ₹58 Cr and profit ₹7 Cr as reported.

FY26-Q4. revenue ₹57 Cr and profit ₹6 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

Saakshi Medtech & Panels Ltd's operating margin was 20.0% in the Mar 2026 quarter, 12.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Over the last four quarters it has moved +3.0 percentage points. Across 7 years it has been between 10.0% and 19.0%.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

The latest quarter is above every full year in that period.

Why the margin moved: operating margin changed +3.6 percentage points on the year while gross margin changed +7.7 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold.

FY26-Q2. revenue ₹58 Cr and profit ₹7 Cr as reported.

FY26-Q4. revenue ₹57 Cr and profit ₹6 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

Over the last 3 years, 104% of Saakshi Medtech & Panels Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹18.0 Cr of operating cash against ₹12.0 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹25.0 Cr of spending on assets, free cash was −₹7.0 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 104% of profit came in as cash: the cash cycle got 56 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: the bigger use of cash is spending on new assets, at 5.5× depreciation over three years. The next section checks what that spending is building.

Saakshi Medtech & Panels Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 144 days in FY26, up from 88 days in FY21. It spent ₹72.0 Cr on assets over the last 3 years. Customers take 83 days to pay, and stock sits for 122 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Why this happened. Management linked the radiator opportunity to the expanded facility and customer execution. It remains a prospective rather than reported source of earnings.

At FY26 sales of ₹116 Cr, each day of that cycle ties up about ₹0.3 Cr, so roughly ₹46.0 Cr is tied up in the business at any time.

FY26: customers took 83 days to pay and stock sat for 122 days, about 4.0 months of sales sitting as stock, for a full cycle of 144 days, longer than FY21's 88.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 122 days. Customers pay about 83 days after that. Suppliers are paid at 60 days. Together that makes the 144-day cycle.

Spending on assets: ₹72.0 Cr over the last 3 years, against ₹13.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹10.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Saakshi Medtech & Panels Ltd's P/E is 59.6×, near the high end of its own history: higher than 85% of past readings. Its usual P/E (the middle reading) is 39.1×, over 3.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

Saakshi Medtech & Panels Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 5 quarters of 1 measure, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Saakshi Medtech & Panels Ltd's story is not scored yet against the checks our research set on 19 July 2026. Where it sits in its own cycle: Not stated in the research file. Still open: If operating profitability falls back toward the FY25 trough while inventory and cash absorption continue after facility completion, the recovery thesis would be invalidated.

NOT YET CHECKED

From the price. Price stage 2, week 40, above its 200-day line, relative strength rising.

From the research. Saakshi has recovered from the FY25 margin trough, while aerospace, the integrated facility and heat exchangers offer growth paths; thin reporting history, working-capital intensity and conflicting management visibility…

What is not proven yet. If operating profitability falls back toward the FY25 trough while inventory and cash absorption continue after facility completion, the recovery thesis would be invalidated.

What would change our mind. If operating profitability falls back toward the FY25 trough while inventory and cash absorption continue after facility completion, the recovery thesis would be invalidated.

The test written in advance. If operating profitability falls back toward the FY25 trough while inventory and cash absorption continue after facility completion, the recovery thesis would be invalidated. Measured by: the thesis as written as stated by the next result.

The test written in advance. Working-capital and cash absorption. Measured by: Working-capital and cash absorption Operating cash flow remains below reported net profit after facility completion. by the next result.

The test written in advance. Disclosure inconsistency. Measured by: Disclosure inconsistency The next call supplies a reconciled backlog, asset-utilisation and revenue bridge. by the next result.

What the company does. The reported FY26 recovery followed the FY25 trough and retained higher operating profitability in the latest reported period. Aerospace production, facility consolidation and radiators offer several growth paths, but customer conversion remains unproven in the reported data. Cash remains tied up in expansion and working capital, while the supplied consistency analysis identifies conflicts in forward disclosure.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

What the surface reading misses. The surface reading is: The annual recovery suggests profitability has moved beyond the FY25 trough. The research reads it further: The higher margin coincides with revenue recovery and management's cost-control explanation, but the available margin series is short and facility depreciation has not yet been tested.

What the surface reading misses. The surface reading is: Operating cash flow improved in the latest year. The research reads it further: The company is still spending on expansion, so improved operating cash flow has not yet translated into free cash generation.

Sources: our stock research file (19 July 2026) · quarterly results through Mar 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

What Saakshi Medtech & Panels Ltd's management promised, against what actually happened: 3 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

Conflicting Revenue Potential from Asset Base · 28 November 2025. Within the same November 2025 call, management provided starkly contradictory statements on the company's revenue potential from its asset base. The CFO stated a potential of 150 crores, which was shortly thereafter contradicted by the MD who claimed a potential of 500 crores, creating significant uncertainty about the company's true capacity and internal alignment. Earlier call (Nov 2025): “The potential revenue from the assets is at around 150 crores.” Later call (Nov 2025): “my estimation is that with that kind of a gross block coming in, we should be close to around 500 crores of revenue realization is something that we would be in a position to target.”

Inconsistent FY26 Revenue Outlook · 28 November 2025. Management gave conflicting signals regarding the full-year revenue outlook for FY26 within the November 2025 call. Initially, the MD implied circa 125 crores for the full year by guiding for a typical 15% H2-over-H1 growth. Later in the same call, management endorsed an analyst's figure of 140 crores, creating a material 15 crore gap without explanation. Earlier call (Nov 2025): “typically there is a close to around 15% growth which we see between H1 and H2. We don”. Later call (Nov 2025): “We should be somewhere close to that.”

Contradictory Statements on Order Book Visibility · 28 November 2025. In the November 2025 call, management's statements on order book visibility were contradictory. The MD initially claimed the company has 'only a three-month visibility' for its order book. However, later in the call, he detailed a specific '230 odd crores of order book is yet to be executed over the next four years' for a single customer, directly contradicting the earlier assertion of limited forward visibility. Earlier call (Nov 2025): “typically we have only a three-month visibility in terms of what is the order book that is available with us.” Later call (Nov 2025): “Close to around 230 odd crores of order book is yet to be executed over the next four years.”

Every quote above is taken word for word from the company’s own earnings calls.

Saakshi Medtech & Panels Ltd earned a ROCE of 14% in FY26. That is up from a low of 6% in FY25. Its return on capital used (ROIC) is 2.4 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses.

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

It comes from a 10.3% net margin and 0.74× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a 10.3% net margin × 0.74× asset turnover × 1.41× leverage (assets divided by equity) ≈ 10.7% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.

The key test, return on capital used minus the cost of capital: 9.6% − 12.0% = −2.4 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

Saakshi Medtech & Panels Ltd has total debt of ₹25.0 Cr against shareholder equity of ₹110 Cr as of Mar 2026, so its debt is 0.23× its equity, which is very little. Year by year, that ratio went from 0.19 in FY24 to 0.23 in FY26. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Promoters cut their stake in Saakshi Medtech & Panels Ltd by 6.5 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 67.2% of the company. Domestic institutions moved −1.4 points over the same period, to 0.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Promoters: −6.5 points over 8 quarters, to 67.2%; Domestic institutions: −1.4 points over 8 quarters, to 0.4%; Foreign institutions: +0.0 points over 8 quarters, to 0.1%.

Why the owners changed: promoters drove it (−6.5 points), together with domestic institutions (−1.4 points). They reduced their stake.

For Saakshi Medtech & Panels Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

50.2 out of 100, rank 14 of 14 in Electric Equipment - General, with 39% of the evidence available. It is provisional, so it is ranked below companies with full evidence.

Saakshi Medtech & Panels Ltd scores 50.2 out of 100 against the 14 companies it is compared with in Electric Equipment - General, ranking 14. Some evidence is missing, so the score is pulled toward the middle on purpose.

The four parts add up to the total exactly: 19.5 + 12.8 + 6.3 + 11.6 = 50.2. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Saakshi Medtech & Panels ranks 14 of 14 Electric Equipment - General companies on the 4-Factor Sector Score, with 50.2 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Electric Equipment - General, all 14 compared on one page.

Saakshi Medtech & Panels is the 11th largest of 14 Electric Equipment - General companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Vivid Electromech, Indo SMC and Indosolar. Just below it: Parth Electricals & Engineering, Cospower Engineering and GP Eco Solutions India.

Electric Equipment - General companies close in size

8. Vivid Electromech Ltd ₹1,008 crore
9. Indo SMC Ltd ₹941 crore
10. Indosolar Ltd ₹797 crore
11. Saakshi Medtech & Panels Ltd ₹733 crore
12. Parth Electricals & Engineering Ltd ₹659 crore
13. Cospower Engineering Ltd ₹550 crore
14. GP Eco Solutions India Ltd ₹464 crore

All 14 Electric Equipment - General companies, largest first

Companies close in size in other industries

1789. Prostarm Info Systems Ltd ₹735 crore · Trading
1790. Geecee Ventures Ltd ₹734 crore · Realty - Construction & Contracting
1791. Saakshi Medtech & Panels Ltd ₹733 crore
1792. Mukka Proteins Ltd ₹731 crore · FMCG Processing - Other
1793. Zim Laboratories Ltd ₹731 crore · Pharma - Formulators

Sector Alpha, written by code from the published numbers. Data as of 5 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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