Singer India 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.

Singer India Ltd trades at ₹82.0, in a downtrend and 8 weeks into that stage. That is +14.4% against its own 200-day average. It sits at 92% of a 52-week range of ₹65 to ₹83. On relative strength it has no relative-strength read yet.

Today the stock is in a downtrend — week 8 of stage 4. At ₹82.0 it trades +14.4% versus its 200-day average and sits at 92% of its 52-week range (₹65–₹83).

Against the market, two honest reads. Cumulative: over the last 1 months the stock moved +18% while the NIFTY 500 moved +1% — 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.

Singer India Ltd trades at 27.3× P/E, near the bottom of its own range — cheaper only 26% of the time. Its long-run median P/E is 34.0×, measured across 10.0 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 27.3× is near the bottom of its own range — cheaper only 26% of the time, against a long-run median of 34.0× measured over 10.0 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 low against its own past, so the story rests on the earnings line underneath it, not the multiple.

Stage: Mixed 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).

Singer India Ltd reads as mixed on its fundamental arc. Mixed — revenue growth is rising at +56.9% (single-quarter readings) while profit growth is decelerating from its peak at +45.7% (single-quarter readings) — the curves disagree, so the per-curve reads carry the story. The read is built from 9 quarters across 3 curves, on partial evidence.

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

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.

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

Singer India Ltd reported ₹145 Cr of revenue in the Jun 26 quarter, +56.9% year on year. That is the 4th straight quarter of year-on-year growth. Over 11 years it has compounded at 6.4% a year. The last full year, FY26, came in at ₹557 Cr. The last four reported quarters add to ₹610 Cr.

FY26 revenue came in at ₹557 Cr (+28.9% on the year), capping 11 years at 6.4% compound. The latest quarter (Jun 26) printed ₹145 Cr, +56.9% year on year — the 4th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +44.1% growth against the decade's 6.4% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +43.5% over the last 4 quarters against +20.6%/yr over the last 8 — accelerating; TTM profit +305.4% vs +92.3%/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.

Singer India Ltd's operating margin is 2.5% in the Jun 26 quarter, +6.5 percentage points against the same quarter a year ago. Across 11 fiscal years the operating margin has ranged 0.4% to 4.5%. The current quarter sits inside that band.

The latest quarter's operating margin is 2.5%, +6.5 pp against the same quarter a year ago. Across 11 fiscal years the operating margin has ranged 0.4%–4.5%.

Why the margin moved: operating margin went +6.5 pp year on year while gross margin went −0.9 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

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

Singer India Ltd earned ₹3.0 Cr of net profit in the Jun 26 quarter. Full-year FY26 profit was ₹13.0 Cr. The 11-year compound rate is 7.3%. That is 2.1% of the quarter's revenue. The same quarter a year earlier lost ₹2.4 Cr. 1 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹3.0 Cr, null year on year. On the full year, FY26 printed ₹13.0 Cr (+85.7%), and the 11-year compound rate is 7.3%.

Pace comparison, last four quarters: profit +168.1% vs revenue +44.1%. 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 54% of Singer India Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹37.0 Cr of operating cash against ₹13.0 Cr of profit. After ₹22.0 Cr of capital spending, ₹15.0 Cr was left as free cash.

FY26: operating cash of ₹37.0 Cr against reported profit of ₹13.0 Cr, leaving free cash of ₹15.0 Cr after ₹22.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 54% 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 54%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: the bigger cash user is investment — capital spending ran 3.3× depreciation over three years, so the next section's job is to check what that build-out is buying.

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).

Singer India Ltd's cash conversion cycle runs 59 days in FY26, up from 49 days in FY21. Capital spending ran ₹30.0 Cr over the last 3 years. At FY26 sales of ₹557 Cr each day of that cycle holds about ₹1.5 Cr, so roughly ₹90.0 Cr sits inside the business at any moment.

FY26: debtors at 25 days, inventory at 96 days — roughly 3.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 59 days, looser than FY21's 49.

The full loop: cash goes out to suppliers and production on day 0; stock waits 96 days to sell; customers pay about 25 days after that; and suppliers themselves are paid at 62 days — netting out to the 59-day cycle.

In money terms: at FY26 sales of ₹557 Cr, each day of the cycle holds about ₹1.5 Cr — so the 59-day loop keeps roughly ₹90.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹30.0 Cr over the last 3 fiscal years against ₹9.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹1.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

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.

Singer India Ltd earns a ROCE of 11% in FY26. That is up from a trough of 4% in FY23. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 2.3% net margin on 1.91× asset turns.

FY26 ROCE is 11%, recovered from a FY23 trough of 4% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 2.3% net margin × 1.91× asset turns × 1.64× balance-sheet leverage ≈ 7.2% on equity. Margin does its share; leverage is a meaningful part of the equation.

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.

Singer India Ltd carries ₹5.0 Cr of borrowings against ₹178 Cr of equity in FY26, a debt-to-equity of 0.03. Operating profit covers the interest bill 15×. Over 5 years borrowings went from ₹2.0 Cr to ₹5.0 Cr. Capital spending ran ₹30.0 Cr across the last 3 of those years.

FY26: borrowings of ₹5.0 Cr against equity of ₹178 Cr — a debt-to-equity of 0.03. Operating profit covers the interest bill 15×. Over 5 years borrowings went from ₹2.0 Cr to ₹5.0 Cr while capital spending ran ₹30.0 Cr in just the last 3 — part of the build-out is riding on borrowed money.

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.

Domestic institutions cut 2.6 points of Singer India Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 0.0% of the company. Promoters moved −0.5 points over the same window, to 30.5%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −2.6 points over 8 quarters to 0.0%; Promoters: −0.5 points over 8 quarters to 30.5%.

🚨 Why the register moved: domestic institutions drove it (−2.6 points), alongside promoters (−0.5 points) — distribution into the market’s bid.

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.

Singer India 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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