Systematic Industries share price today

Systematic Industries Ltd's share price was ₹245.70 at the close on 5 November 2026. It has been rising for 12 weeks. That is 11.8% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹131 and ₹295, and at that close it sat 70% of the way up from that low.

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 Systematic Industries Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 23 weeks in a row.

Over the last 1 year the share price moved +20% while the NIFTY 500 moved −5%, 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.

For July to September 2026 (the quarter ended 30 September 2026), Systematic Industries reported revenue of ₹311 crore, up 22.4% from ₹254 crore a year earlier, and a profit of ₹13.0 crore, up 44.4% from ₹9.00 crore.

Systematic Industries results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 16 June 2026, about January to March 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Systematic Industries closed at ₹245.70 on 5 November 2026, up 19.6% from ₹205.50 a year earlier (7 November 2025). Its highest weekly close since October 2025 was ₹285.55 on 1 October 2026.

Systematic Industries 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.

51 weekly closes from 3 October 2025 to 5 November 2026.

5 Nov 2026: Systematic Industries closed at ₹245.70, up 0.3% on the week and down 9.4% on the month. Our read, 10 Oct 2026: Approved new products offer a route beyond steel wire, but falling operating margins, inventory-funded growth and an unresolved per-share bridge keep the earnings transition unproven.

Earlier

• Results for July to September 2026: Revenue up 22.4% and profit up 44.4% on a year earlier.
• 16 Jun 2026: Systematic Industries held its results call for January to March 2026. Management guided: OPGW and OFC revenue contribution: substantial amounts expected to be reflected in March 2028 balance sheet.

Our read of the business

April to June 2026: Reported profit rises, but operating profit and per-share earnings lag.

Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

No. Systematic Industries 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 (as of 5 November 2026).

On the call for January to March 2026, held on 16 June 2026, Systematic Industries' management guided: OPGW and OFC revenue contribution: substantial amounts expected to be reflected in March 2028 balance sheet.

“We received our first order from Power Grid for the Agra-Khumber OPGW project, positioning us to participate in upcoming tenders estimated at around 1,000 crores in the coming year”Siddharth Agarwal, MD, on the call for January to March 2026

What management guided

• OPGW tender market opportunity: 1,000+ crores anticipated in coming year.
• FY27 capital spending magnitude: increase planned but specific numbers not disclosed.
• Revenue growth trajectory: will accelerate beyond historical 25.0% post-IPO capital deployment but management refused point estimate or range.
• Value-added steel wire mix: goal 30.0-35.0% of volume over coming years versus current >20.0%.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for January to March 2026, 16 June 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

What is changing at Systematic Industries, from the latest results and calls: , approved optical fiber cable channels and legacy value-added mix.

• . The first power-grid order opens a delivery channel for a higher-value product. ⚠ estimate
• Approved optical fiber cable channels. Railway and telecom approvals create a route from trials to recurring procurement. ⚠ estimate
• Legacy value-added mix. A larger premium-product mix could improve legacy economics if customers pay for it. ✓ fact

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 April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

The summary reports the first Power Grid order and management's estimate of upcoming tender opportunity, not an awarded order book of that size.

✓ fact

Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

The thesis breaks if the next reported period after management's expected contribution window shows no separately identifiable new-product deliveries, while consolidated operating margin remains below the latest reported level and inventory continues absorbing cash.

Each change stops working if

• : Approvals produce no repeat orders, or tender pricing and input constraints consume the integration benefit.
• Approved optical fiber cable channels: Trial customers do not reorder or approvals fail to produce collected commercial deliveries.
• Legacy value-added mix: Value-added volume rises without an improvement in realized operating profit because customers retain the price benefit.
• Lower financing drag after the IPO: Expansion or working-capital requirements rebuild borrowing before new assets generate operating cash.

The main risks

• Unresolved shares and reporting basis: Profit growth is not translating into comparable per-share growth. ⚠ estimate
• Margin contraction beneath profit growth: The operating business has not yet shown the margin improvement described for new products. ⚠ estimate
• Inventory absorbs expansion cash: Accounting growth is consuming working capital before its cash benefit is established. ⚠ estimate
• Unquantified capital deployment: Management's contribution window lacks a budget and commissioning schedule. ⚠ estimate

Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When Systematic Industries reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: OPGW revenue materialization and order flow in April to June 2026: first full quarter of active commercial OPGW operations; monitor size and pace of order book conversion to validate new-age growth narrative vs execution risk.

Systematic Industries is on 2 of our India lists: Momentum stocks and Power & green energy stocks.

Systematic Industries Ltd earned ₹13.0 Cr of net profit in the Sep 2026 quarter, +44.4% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹21.0 Cr. Over 6 years profit has grown 31.8% a year on average. That is 4.2% 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 ₹11.0 Cr.

For the full year, FY26 profit was ₹21.0 Cr (+16.7% on the year before).

Why profit moved: revenue changed +22.4% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +22.8% and revenue +22.1%. Profit and revenue are moving at about the same pace.

FY26-Q4. revenue ₹299 Cr and profit ₹12 Cr as reported.

FY27-Q1. revenue ₹299 Cr and profit ₹12 Cr as reported.

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Systematic Industries Ltd reported ₹311 Cr of revenue in the Sep 2026 quarter, +22.4% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 6 years it has grown 17.2% a year on average. The last full year, FY26, came in at ₹553 Cr.

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

Why this happened. The Value Chain Climb links integration and customer access to a possible mix improvement. Management reports an initial power-grid project and describes integrated manufacturing. The benefit remains conditional on execution, pricing and collections: the addressable tender pool is not Systematic's order book, and no quantified executable backlog is supplied. Integration, utilization and order conversion are parts of the same mechanism and are counted together.

FY26 revenue was ₹553 Cr, +23.7% on the year before.

Recent pace: the last four quarters grew +22.1% on average, against 17.2% a year over the longer run, so this year is growing faster than its own long-run rate.

FY26-Q4. revenue ₹299 Cr and profit ₹12 Cr as reported.

FY27-Q1. revenue ₹299 Cr and profit ₹12 Cr as reported.

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Systematic Industries Ltd's operating margin was 7.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Across 7 years it has been between 3.4% and 8.0%. The latest quarter is within that range.

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.

Why this happened. The comparable latest periods show lower interest expense alongside lower operating profit. Management reports post-IPO net debt-free status, supporting a financing-cost explanation. This benefit has already appeared in the reported profit bridge; it should not be counted again as an independent operating-growth catalyst. New expansion could retain the benefit if it does not rebuild borrowing, but the capital budget is unknown.

In the latest quarter it moved +0.0 percentage points on the same quarter a year ago.

Why the margin moved: operating margin changed −0.4 percentage points on the year while gross margin changed +0.6 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

FY26-Q4. revenue ₹299 Cr and profit ₹12 Cr as reported.

FY27-Q1. revenue ₹299 Cr and profit ₹12 Cr as reported.

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Over the last 3 years, 59% of Systematic Industries Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹6.0 Cr of operating cash against ₹21.0 Cr of profit. After ₹4.0 Cr of spending on assets, ₹2.0 Cr was left over as free cash.

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.

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

Why 59% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: the bigger use of cash is spending on new assets, at 3.5× depreciation over three years. The next section checks what that spending is building.

Systematic Industries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 85 days in FY26, down from 88 days in FY21. It spent ₹46.0 Cr on assets over the last 3 years. Customers take 51 days to pay, and stock sits for 45 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.

At FY26 sales of ₹553 Cr, each day of that cycle ties up about ₹1.5 Cr, so roughly ₹129 Cr is tied up in the business at any time.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 45 days. Customers pay about 51 days after that. Suppliers are paid at 11 days. Together that makes the 85-day cycle.

Spending on assets: ₹46.0 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 ₹2.0 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.

Systematic Industries Ltd's P/E is 23.9×, in the middle of its own history: higher than 67% of past readings. Its usual P/E (the middle reading) is 21.1×, over 1 year 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.

Why the multiple is where it is: over the past year earnings per share moved −12.5% while the price moved +19.6%. The price did better than earnings, which pushed the multiple up within its own range.

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

Systematic Industries 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 4 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.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

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.

Systematic Industries Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: CONTRACTION.

NOT YET CHECKED

Our read, 10 October 2026. Approved new products offer a route beyond steel wire, but falling operating margins, inventory-funded growth and an unresolved per-share bridge keep the earnings transition unproven.

From the price. Price stage 2, week 12, above its 200-day line.

From the research. Approved new products offer a route beyond steel wire, but falling operating margins, inventory-funded growth and an unresolved per-share bridge keep the earnings transition unproven.

Where they disagree. These describe different dimensions.

What is proven. Approved new products offer a route beyond steel wire, but falling operating margins, inventory-funded growth and an unresolved per-share bridge keep the earnings transition unproven.

What is not proven yet. The thesis breaks if the next reported period after management's expected contribution window shows no separately identifiable new-product deliveries, while consolidated operating margin remains below the latest reported level and inventory continues absorbing cash.

What would change our mind. The thesis breaks if the next reported period after management's expected contribution window shows no separately identifiable new-product deliveries, while consolidated operating margin remains below the latest reported level and inventory continues absorbing cash.

The test written in advance. The thesis breaks if the next reported period after management's expected contribution window shows no separately identifiable new-product deliveries, while consolidated operating margin remains below the latest reported level and inventory continues absorbing cash. Measured by: the thesis as written as stated by the next result.

The test written in advance. Unresolved shares and reporting basis. Measured by: Unresolved shares and reporting basis by the next result.

The test written in advance. Margin contraction beneath profit growth. Measured by: Margin contraction beneath profit growth by the next result.

What the company does. Initial power-grid and railway orders provide customer access; they do not establish the size or profitability of recurring deliveries. Reported profit growth includes lower interest expense while operating profit has declined in the comparable latest periods.

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: Revenue and profit increased, suggesting a growing business. The research reads it further: Revenue expanded faster than operating profit, while per-share earnings declined. The operating benefit and shareholder benefit therefore differ.

What the surface reading misses. The surface reading is: Annual profit growth suggests improving shareholder earnings. The research reads it further: Operating profit grew more slowly than sales and EPS declined despite higher profit. Margin dilution and a changed effective share denominator offset part of the growth.

• 1 · Operating leveragequiet
• 2 · Value-added mixbuilding
• 3 · Management changequiet
• 4 · Paying down debtquiet
• 5 · Regulatory approvalquiet
• 6 · Order-book winsquiet
• 7 · Consolidationquiet
• 8 · Demerger or value unlockquiet
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersquiet
• 12 · New product launchquiet
• 13 · Mandatory normsquiet
• 14 · A bigger market to servequiet
• 15 · Market-share gainsquiet
• 16 · Asset qualityquiet

Lever 2 · Value-added mix: building. A larger premium-product mix could improve legacy economics if customers pay for it. What proves it keeps working: Legacy value-added mix. It stops working if Value-added volume rises without an improvement in realized operating profit because customers retain the price benefit.

Sources: our stock research file (10 October 2026) · quarterly results through Sep 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.

Systematic Industries Ltd earned a ROCE of 17% in FY26. That is up from a low of 9% in FY21. Its return on capital used (ROIC) is 2.9 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 3.8% net margin and 2.35× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a 3.8% net margin × 2.35× asset turnover × 1.17× leverage (assets divided by equity) ≈ 10.4% 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: 9.1% − 12.0% = −2.9 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.

Systematic Industries Ltd had ₹10.0 Cr of borrowings against ₹201 Cr of equity in FY26, so its debt is 0.05× its equity. Its operating profit is 6 times its interest bill. Over 5 years borrowings went from ₹29.0 Cr to ₹10.0 Cr. Over the last 3 of those years it spent ₹46.0 Cr on assets.

Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

The spending on assets is being paid for from cash, not new debt.

No group of Systematic Industries Ltd's owners changed its stake by a full percentage point over the last 3 quarters. 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.

For Systematic Industries 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.

47.4 out of 100, rank 11 of 11 in Cables - Power, with 45% of the evidence available. It is provisional, so it is ranked below companies with full evidence.

Systematic Industries Ltd scores 47.4 out of 100 against the 11 companies it is compared with in Cables - Power, ranking 11. Some evidence is missing, so the score is pulled toward the middle on purpose.

The four parts add up to the total exactly: 15.6 + 10.1 + 10.6 + 11.1 = 47.4. 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.

Systematic Industries ranks 11 of 11 Cables - Power companies on the 4-Factor Sector Score, with 47.4 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: Cables - Power, all 11 compared on one page.

Systematic Industries is the 10th largest of 11 Cables - Power companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Diamond Power Infrastructure, V-Marc India, Universal Cables, Dynamic Cables and Delton Cables. Just below it: JD Cables.

Cables - Power companies close in size

5. Diamond Power Infrastructure Ltd ₹20,598 crore
6. V-Marc India Ltd ₹4,862 crore
7. Universal Cables Ltd ₹4,176 crore
8. Dynamic Cables Ltd ₹1,542 crore
9. Delton Cables Ltd ₹603 crore
10. Systematic Industries Ltd ₹584 crore
11. JD Cables Ltd ₹470 crore

All 11 Cables - Power companies, largest first

Companies close in size in other industries

1927. Satani Bearings Ltd ₹588 crore · Trading
1928. Sreeleathers Ltd ₹586 crore · Footwear
1929. Systematic Industries Ltd ₹584 crore
1930. T.V. Today Network Ltd ₹583 crore · Entertainment & Media
1931. TransIndia Real Estate Ltd ₹583 crore · Logistics

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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