SGILIndustrials

Synergy Green Industries Limited

Castings & Forgings · ISIN INE00QT01015 · BSE 541929 · NSE EQ · FV ₹10
Last price
₹543
+6.83%today
What this company does

Synergy Green Industries Limited operates in Castings & Forgings, part of the Industrials sector. It booked ₹116 cr of revenue in its latest quarter (Q2 FY27) and kept -4.4% of sales as profit. It is the 7th largest of 9 Castings & Forgings companies we track, by market value.

In the report:
33out of 100
Equitytale Health Score
Strained

Healthier than 33% of companies in Industrials, on the 5 of 6 measures we could read for it. Each measure is ranked against the 227–284 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
31

At close. Not part of the score.

Profitability & returns8

How much profit it earns on the money it employs

Balance sheet6

How much it owes, and whether earnings cover the interest

Cash quality92

Whether reported profit actually arrives as cash

Valuation8

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Some things to watch
Strengths
✓ Promoters hold 70%
✓ No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -4.4% net margin
! Low -21.4% return on equity
! Carries high debt (D/E 2.7)

What if I invest in SGIL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹543▲ +6.83%
latest close · 2026-11-04
1-year return
+252.9%
52-wk low ₹13652-wk high ₹698
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio8.88High
Below bookModerateHigh
EV / EBITDA23.3High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-21.4%Loss
WeakFairStrong ▸15%
Return on capital2.9%Weak
WeakFairStrong
Net margin-4.4%Loss
ThinDecentStrong
EBITDA margin10.2%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity2.72High
LowModerateHigh ▸1
Interest cover0.3×Risky
RiskyOkayStrong ▸5×
Current ratio0.85Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹844 cr
Book value
₹61
EPS
₹-3.27
latest quarter
Net debt
₹257 cr
owes more than its cash
Enterprise value
₹1,101 cr
EBITDA
₹47 cr
annualised
EBIT
₹7 cr
annualised
Operating margin
1.6%
Return on assets
-4.2%
Earnings yield
—
P/S
1.82
Sales / share
₹298.1
Tax rate
—
Face value
₹10
Shares
1.6 cr
Working capital
₹-33 cr
Current assets
₹192 cr
Current liabilities
₹225 cr
Delivery %
65.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
Too few reliable models — the filings don't support two independent estimates of value.
Models span ₹1–₹1, midpoint ₹1

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹116 cr
Other Income₹52.8 L
Total Income₹116 cr
Cost of Materials₹51 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-10 cr
Employee Benefit Expense₹11 cr
Finance Costs₹7 cr
Depreciation & Amortisation₹10 cr
Other Expenses₹52 cr
Total Expenses₹122 cr
Profit before Tax₹-5 cr
Tax Expense₹-20.7 L
Net Profit₹-5 cr
Net margin on total income-4.4%
Where the money goes · Q2 FY27
% of total spend
Materials + stock-in-trade₹41 cr33.8%
Employee benefit expense₹11 cr9.2%
Finance costs₹7 cr5.9%
Depreciation & amortisation₹10 cr8.2%
Other expenses₹52 cr42.9%
Total income ₹116 cr

The company made a net loss of ₹5 cr this quarter — income covered only ₹96 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue119 cr75 cr116 cr
Total income123 cr76 cr116 cr
Expenses123 cr86 cr122 cr
Profit before tax31 L-11 cr-5 cr
Tax-9.7 L-58 L-20.7 L
Net profit (owners' share)40.7 L-10 cr-5 cr
Net margin (owners' share, on revenue)0.3%-13.5%-4.4%
EPS (₹)0.26-6.51-3.27
Balance sheet & cash flow · as of Sep 2026
High debt
Total assets
₹486 cr
Shareholder equity
₹95 cr
parent shareholders
Total debt
₹258 cr
Cash
₹2 cr
Cash flow · H1 FY27
Operating
₹27 cr
Investing
₹-20 cr
Financing
₹-6 cr
Peer comparison
Castings & Forgings · by market value
CompanyPriceMarket capP/E
PTC Industries Limited₹23,920₹35,862 cr307.1
AIA Engineering Limited₹3,390₹31,633 cr31.7
Happy Forgings Limited₹1,767₹16,675 cr45.5
Balu Forge Industries Limited₹487₹5,908 cr22.2
Steelcast Limited₹369₹3,741 cr39.4
Nelcast Limited₹164₹1,427 cr22.0
Synergy Green Industries Limitedthis company₹509₹790 cr—
Kalyani Forge Limited₹843₹307 cr17.1
Hilton Metal Forging Limited₹15₹79 cr11.0
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
—
trailing 12 months
Dividend / share (TTM)
—
Last dividend
₹1
ex 17 Sep 2025
ActionDetailEx-date
Dividend₹1 / share17 Sep 2025
Rights issue10:111 Sep 2024
Who owns it · 2026-09-30
No pledge
Promoter
69.5%
FII / Foreign
0.2%
DII / Domestic
1.9%
Retail / others
28.3%
Promoter stake down 4.5% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtTARINI SANAT SHIRGAOKAR · Promoter Group3,781 · ₹24.7 L28 Sep 26
BoughtRISHABH SANAT SHIRGAOKAR · Promoter Group541 · ₹3.2 L11 Sep 26
BoughtPRABHAKAR SHIRGAOKAR ENTERPRISES LLP · Promoter Group1,600 · ₹9.7 L7 Sep 26
Bulk / block deals
BoughtSOLIDARITY ADVISORS PVT. LTD. · NSE90,475 @ ₹488.216 Feb 26
SoldCAPRI GLOBAL HOLDINGS PRIVATE LIMITED · NSE84,999 @ ₹483.2716 Feb 26
BoughtSOLIDARITY ADVISORS PRIVATE LIMITED · NSE79,572 @ ₹534.4814 Nov 25
Stake changes
BoughtSolidarity Advisors Private Limited→ 10.01% · 3.29 L29 May 26
BoughtSolidarity Advisors Private Limited→ 7.89% · 4.17 L16 Feb 26
BoughtSolidarity Advisors Private Limited→ 5.21% · 37,39320 Jan 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 21 Mar 2026
See the official result
1
To consider and approve the appointment of Mr. Deepak Vidyadhar Dhadoti as Independent Director for first term.
Backed by 100% of shareholders other than promotersneeded 75%
3.64 L votes for, 0 against · 0% of mutual funds and other big investors said no
2
To consider and approve the appointment of Mrs. Meghana Ashok Mulye as Independent Director for first term.
Backed by 100% of shareholders other than promotersneeded 75%
3.64 L votes for, 0 against · 0% of mutual funds and other big investors said no
3
To consider and approve reappointment of Mr. Sachin R. Shirgaokar, (DIN: 00254442) Chairman and Managing Director and reconsider his remuneration for the period of 3 years w.e.f. 01.04.2026.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 75%
3.64 L votes for, 37 against · 0% of mutual funds and other big investors said no
4
To consider and approve the reappointment of Mr. Vendavagali Srinivasa Reddy, (DIN: 03425960) Wholetime Director for the period of 3 years and reconsider his remuneration w.e.f. 01.04.2026.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 75%
3.64 L votes for, 37 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 38 named members
owning 68.4% between them · as of 2026-09-30
S B Reshellers Private Limited34.81%
Radhika Sanjeev Shirgaokar9.85%
Vendavagali Srinivasa Reddy8.97%
Sachin Rajendra Shirgaokar5.02%
D M Shirgaokar Enterprises Llp1.42%
Shishir Suresh Shirgaokar1.32%
V S Shirgaokar Enterprises Llp1.04%
Asha Anant Huilgol0.90%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹46 cr raised in Oct 2024 by offering new shares to existing shareholders

As of Sep 2026, the company says it has spent 100% of what it set aside, leaving ₹17.1 L still to be spent.

Foundry Expansion
100%
₹9 cr of ₹9 cr
Fettling Shop
100%
₹5 cr of ₹5 cr
Machine Shop
100%
₹14 cr of ₹14 cr
Solar
98%
₹7 cr of ₹7 cr
General Corporate Expenses
100%
₹9 cr of ₹9 cr
Issue Expenses
100%
₹2 cr of ₹2 cr
Spent by quarter: 77% → 81% → 82% → 82% → 91% → 98% → 100% (to Sep 2026)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.