Shringar House of Mangalsutra Ltd (SHRINGARMS) — share price & stock analysis

Market cap

₹2,164 Cr

P/E

18.7×

ROE

26.3%

Book value / share

₹70.3

Revenue (FY26)

₹2,246 Cr

Profit after tax (FY26)

₹115 Cr

Weinstein stage

Stage 4 (10 weeks)

Data as of

1 July 2026

3 of the 4 things we track are currently moving the right way — nearly everything is pulling in the same direction.

Where the levels actually stand: ROCE 27% — a high-quality engine; effectively no debt; margins at an all-time high. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double, and a quarter of the score comes from our earnings-recovery lens (is the profit cycle turning up off its trough?).

The price is in a downtrend — fighting it is expensive

Stock prices move through four repeating stages: basing (1), advancing (2), topping (3) and declining (4). This one is in Stage 4: declining, 10 weeks in.stage

The price is below its falling 200-day average — history says most of the damage in stocks happens here. Cheap can get cheaper in Stage 4.dma_200

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

5 of 5 years up since listing — good compounding, but a short book

Over 5 years, sales went from ₹510 Cr to ₹2,246 Cr (about 35% a year), and profit from ₹13.0 Cr to ₹115 Cr.revenuenet_profit

Margins widened 3 points along the way — growth with improving economics.operating_profit

Sales exploded 107% last quarter — the 4th straight quarter of growth

Mar 26 sales were ₹726 Cr, up 107% on the same quarter last year.revenue

That makes 4 quarters of growth in a row — this is a trend, not a blip.revenue

Margins have been rebuilt — 3.7% in FY22 to 7.1% now

Of every ₹100 of sales, the company keeps ₹6.2 as operating profit (a year ago it kept ₹6.6).opm_pct

Zoom out and this is the page's quiet hero: annual operating margin bottomed at 3.7% in FY22 and has been rebuilt to 7.1% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit

Profit exploded 127% — mostly from selling more

Mar 26 profit after tax was ₹34.0 Cr, up 127% year on year.net_profit

Profits on paper, cash lagging behind

Over the last 5 profitable years, the business reported ₹250 Cr of profit and collected ₹−320 Cr of operating cash — about -128% conversion.operating_cash_flownet_profit

The wrinkle is the latest year: FY26 collected ₹−282 Cr against ₹115 Cr of reported profit — about -245%. One year isn’t a trend, but it is the line to watch.operating_cash_flownet_profit

The gap sits in receivables: customers now take 38 days to pay, up from 22. Profit booked, cash pending.debtor_days

The cash cycle is stretching — more money stuck in the pipeline

One rupee now takes about 116 days to go out the door as materials and come back as collected cash — up from 74 days the year before.cash_conversion_cycle

The biggest mover: customers taking longer to pay (22 → 38 days).debtor_days

The asset base keeps compounding — this company builds

The productive asset base has gone from ₹15.0 Cr (FY21) to ₹65.0 Cr.fixed_assetscwip

The build is bigger than the cash engine: investing outflows (₹108 Cr) exceeded operating cash (₹−303 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow

Debt is small — but no longer zero, and growing

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹28 — total borrowings have grown from ₹23.0 Cr to ₹189 Cr over the window.borrowings

The equity base grew even faster, so the ratio stays comfortable — but a 8× rise in absolute borrowings deserves a name (acquisitions, capex), not a shrug. Watch whether it keeps compounding.borrowings

Every ₹100 kept in the business earns ₹27 — a high-quality engine

Return on capital employed is 27.0% (a year ago: 32.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct

Worth studying deeper — with eyes open

The numbers lean positive, and the price is roughly fair to the delivery so far.

Best thing in the data: profit rising (₹15.0 Cr → ₹34.0 Cr).net_profit

Biggest worry: cash generation falling (₹−7.0 Cr → ₹−282 Cr).operating_cash_flow

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data