Sheetal Cool Products Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Sheetal Cool Products Ltd trades at ₹655, in a confirmed uptrend and 28 weeks into that stage. That is +57.9% against its own 200-day average. It sits at 100% of a 52-week range of ₹428 to ₹655. On relative strength it has no relative-strength read yet.

Today the stock is in a confirmed uptrend — week 28 of stage 2, confirmed. At ₹655 it trades +57.9% versus its 200-day average and sits at 100% of its 52-week range (₹428–₹655).

Against the market, two honest reads. Cumulative: over the last 4 months the stock moved +42% while the NIFTY 500 moved +5% — ahead of the index over the full window. Recent form: no trailing-13-week read yet — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Sheetal Cool Products Ltd trades at 33.0× P/E, at the pricey end of its own range (85th percentile). Its long-run median P/E is 24.9×, measured across 8.8 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 33.0× is at the pricey end of its own range (85th percentile), against a long-run median of 24.9× measured over 8.8 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Sheetal Cool Products Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −29.3% at the trough to +30.9% off a 4-quarter-old trough (single-quarter readings), ROCE slipping at 16.0%. The read is built from 10 quarters across 3 curves, on partial evidence.

Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

4-Factor Sector Score

62.2/100 — rank 1 of 2 in Food & Dairy Products · 69% evidence confidence

Sheetal Cool Products Ltd scores 62.2 out of 100 against the 2 companies it is compared with in Food & Dairy Products, ranking 1. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 27 + 15.2 + 7.5 + 12.5 = 62.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Sheetal Cool Products Ltd reported ₹133 Cr of revenue in the Jun 26 quarter, +17.5% year on year. That is the 4th straight quarter of year-on-year growth. Over 10 years it has compounded at 11.3% a year. The last full year, FY26, came in at ₹366 Cr. The last four reported quarters add to ₹386 Cr.

FY26 revenue came in at ₹366 Cr (+14.0% on the year), capping 10 years at 11.3% compound. The latest quarter (Jun 26) printed ₹133 Cr, +17.5% year on year — the 4th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +22.7% growth against the decade's 11.3% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +24.3% over the last 4 quarters against +6.3%/yr over the last 8 — accelerating; TTM profit +43.5% vs +1.5%/yr — accelerating.

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

Sheetal Cool Products Ltd's operating margin is 10.6% in the Jun 26 quarter, +1.3 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 3.9% to 13.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 10.6%, +1.3 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 3.9%–13.0%.

Why the margin moved: operating margin went +1.3 pp year on year while gross margin went −2.5 pp — the gain came mostly from the gross line: input costs and pricing.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Sheetal Cool Products Ltd earned ₹7.0 Cr of net profit in the Jun 26 quarter, +30.9% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹19.0 Cr. The 10-year compound rate is 25.2%. That is 5.3% of the quarter's revenue. The same quarter a year earlier earned ₹5.3 Cr.

Jun 26 profit was ₹7.0 Cr, +30.9% year on year — the 3rd consecutive quarter of growth. On the full year, FY26 printed ₹19.0 Cr (+11.8%), and the 10-year compound rate is 25.2%.

Why profit moved: revenue contributed +17.5% and the margin +1.3 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +40.4% vs revenue +22.7%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 179% of Sheetal Cool Products Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹34.0 Cr of operating cash against ₹19.0 Cr of profit. After ₹17.0 Cr of capital spending, ₹17.0 Cr was left as free cash.

FY26: operating cash of ₹34.0 Cr against reported profit of ₹19.0 Cr, leaving free cash of ₹17.0 Cr after ₹17.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 179% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 179%: the cash cycle stretched 61 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Sheetal Cool Products Ltd's cash conversion cycle runs 212 days in FY26, up from 151 days in FY21. Capital spending ran ₹25.0 Cr over the last 3 years. At FY26 sales of ₹366 Cr each day of that cycle holds about ₹1.0 Cr, so roughly ₹213 Cr sits inside the business at any moment.

FY26: debtors at 36 days, inventory at 217 days — roughly 7.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 212 days, looser than FY21's 151.

The full loop: cash goes out to suppliers and production on day 0; stock waits 217 days to sell; customers pay about 36 days after that; and suppliers themselves are paid at 40 days — netting out to the 212-day cycle.

In money terms: at FY26 sales of ₹366 Cr, each day of the cycle holds about ₹1.0 Cr — so the 212-day loop keeps roughly ₹213 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹25.0 Cr over the last 3 fiscal years against ₹26.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Sheetal Cool Products Ltd earns a ROCE of 16% in FY26. That is up from a trough of 9% in FY21. Return on invested capital clears the cost of that capital by −0.5 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 5.2% net margin on 1.38× asset turns.

FY26 ROCE is 16%, recovered from a FY21 trough of 9% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 5.2% net margin × 1.38× asset turns × 1.70× balance-sheet leverage ≈ 12.2% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 11.5% − 12.0% = a −0.5 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Sheetal Cool Products Ltd carries ₹50.0 Cr of borrowings against ₹156 Cr of equity in FY26, a debt-to-equity of 0.32. Operating profit covers the interest bill 6×. Over 5 years borrowings went from ₹71.0 Cr to ₹50.0 Cr. Capital spending ran ₹25.0 Cr across the last 3 of those years.

FY26: borrowings of ₹50.0 Cr against equity of ₹156 Cr — a debt-to-equity of 0.32. Operating profit covers the interest bill 6×. Over 5 years borrowings went from ₹71.0 Cr to ₹50.0 Cr while capital spending ran ₹25.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters added 4.5 points of Sheetal Cool Products Ltd over 8 quarters, the biggest move on the register. That takes promoters to 70.1% of the company. Domestic institutions moved −0.3 points over the same window, to 0.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: +4.5 points over 8 quarters to 70.1%; Domestic institutions: −0.3 points over 8 quarters to 0.1%; Foreign institutions: +0.0 points over 8 quarters to 0.0%.

Why the register moved: promoters drove it (+4.5 points) — steady accumulation by institutions reading the same numbers this page reads.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Sheetal Cool Products Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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