SUMANSPEAKS June 23, 2026 SumanSpeaks Independent Capital Markets Intelligence · Estd 2006 Legal Intelligence · EPC Sector The Court That Keeps Giving SEPC Ltd (₹6.82) Another Chance to Breathe From a ₹195 crore Singapore arbitration decree to a ₹2 crore salary lifeline — how the Madras High Court became the most interesting character in SEPC's ongoing legal saga, and why the retail investor is watching the wrong plot entirely Indian markets love to price fear. And when a company simultaneously carries a Singapore arbitration award, a CRISIL D rating, and a Madras High Court order on its file, the average retail investor does not pause to read the fine print. He sells first, panic-tweets second, and asks questions never. SEPC Limited (BSE: 513446) has been living in this particular purgatory for over three years — down on bad days, overlooked on good ones, and relent...

 Today's Call 

Buy the shares of Sarthak Industries Ltd (Rs.23.91) for targets of Rs.31/37. 

Introduction: Incorporated in 1982, Sarthak Industries Ltd is engaged in manufacturing and repairing of LPG Cylinders and merchant trading of agri-commodities, mining and mineral based industry on opportunity basis.

Product & Services:

a) Industrial and household liquefied petroleum gas (LPG) cylinders of different weights

b) Trading of agro-commodities like vanaspati ghee, wheat, chana, Masoor, etc.

Manufacturing Unit:

Company's unit is located at Pithampur with a manufacturing capacity of 7 lacs cylinders per annum.

Clientele:

Indian Oil Corporation Ltd., Hindustan Petroleum Corporation Ltd., Bharat Petroleum Corporation Ltd. and also to private companies.

Revenue Breakup:

In Q1FY25 company generated revenue mainly from sale of LPG cylinders Rs.6.79 crore and Trading Business Rs.89 lakhs.

Source: Screener.

Financials:

The reported Standalone quarterly numbers for Sarthak Industries are:

Net Sales of the company came at Rs.7.62 crore in June 2024 down marginally by 2.29% from Rs. 7.80 crore in June 2023.

Quarterly Net Profit was seen at Rs.0.25 crore in June 2024 up a whooping 939.51% from Rs.0.02 crore in June 2023.

The EBITDA stood at Rs.0.57 crore in June 2024 up 72.73% from Rs.0.33 crore in June 2023.

Source: Money control.com.

Consolidated Numbers:

On consolidated basis, the total income of the company for the June, 2024 quarter came at Rs.8.44 crore Vs Rs.7.19 crore in Q4FY24 and Rs.8.67 crore in June, 2023 quarter.

The net profit of the company came at Rs.25.26 lakhs against Rs.2.43 lakhs in June, 2023 quarter and Rs.7.96 lakhs in the March, 2024 quarter, showing a significant improvement in the Bottomline.

Total Comprehensive Income for the June, 2024 quarter: Rs.26.98 lakhs Vs Rs.15.63 lakhs in March, 2024 and Rs.11.94 lakhs in the June, 2023 quarter on an equity capital of Rs.9.29 crore.

Reserves (excluding revaluation reserves): Rs.30.92 crore, which is more than 3 times its equity capital.


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