S Chand and Company financials: balance sheet, profit and loss, cash flow

NSE: SCHANDBSE: 540497Printing & PublicationSmall Cap

S Chand and Company Limited · Face value ₹5 · Listed May 2017 · Issue price ₹670

₹129.85₹2.41 (1.82%)BSE ₹128.80

Share price at the NSE close on 28 Oct 2026. Previous close ₹132.26.

28 Oct: open ₹129.40, high ₹133.92, low ₹128.82

52-week range of traded prices to 28 Oct 2026

₹127.00Low, 23 Oct 2026₹184.50High, 25 May 2026

The board meets on 5 Nov 2026. The notice · Every company's board meetings

Market cap: ₹458 Cr1,792nd largest listed
P/E: 6.42
P/B: 0.43
Dividend yield: 3.08%
ROE: 7.0%
ROCE: 8.8%
Debt to equity: 0.08
Volume, NSE: 10,11073.7% delivered

S Chand and Company's financial statements for the 10 years to Mar 2026, consolidated: the company and its subsidiaries together, with the twelve months to Jun 2026 after them.

10 years at a glance

₹ crore, years to March.S Chand and Company annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹799 Cr, year to Mar 2026; lowest ₹425 Cr, year to Mar 2021A loss in 3 of the 10 years shown

Operating and net margin, per cent

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 28.7% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue799
Materials and goods−257
Employee costs−193
Other expenses−204
Operating profit145
Depreciation−45
Other income+16
One-off items−3.3
Finance costs−14
Profit before tax99
Tax−26
Net profit73

What the company owns

Plant, investments and other assets₹693 Cr
Receivables₹350 Cr
Inventory₹163 Cr
Cash and bank₹112 Cr
Current investments₹76 Cr

What pays for it: net worth and liabilities

Net worth₹1,051 Cr
Owed to suppliers₹155 Cr
Other liabilities₹101 Cr
Borrowings₹88 Cr

Profit and loss

Consolidated, ₹ crore, years to March. The last column is the twelve months to Jun 2026, the latest four quarters added.S Chand and Company quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023Filed 30 May	Mar 2024	Mar 2025Filed 23 May	Mar 2026Filed 22 May	Jun 2026Twelve monthsFiled 10 Aug
Revenue from operations	684	794	522	429	425	481	610	663	720	799	811
	513	602	553	451	371	420	514	553	585	654	666
Materials and goods bought	207	246	181	160	157	173	221	226	229	257	257
Employee costs	–	–	151	126	99	117	136	150	174	193	198
Other expenses	–	–	221	166	114	129	157	176	181	204	211
Operating profit before depreciation	171	193	−31	−22	55	61	96	110	135	145	144
Operating margin	25.0%	24.3%	−6.0%	−5.1%	12.9%	12.8%	15.8%	16.6%	18.8%	18.1%	17.8%
Materials, % of revenue	–	–	34.6%	37.2%	36.9%	35.9%	36.2%	34.1%	31.8%	32.1%	31.7%
Employee costs, % of revenue	–	–	29.0%	29.3%	23.3%	24.4%	22.4%	22.7%	24.2%	24.2%	24.5%
Other expenses, % of revenue	–	–	42.4%	38.6%	26.8%	26.9%	25.7%	26.6%	25.2%	25.5%	26.0%
Depreciation and amortisation	28	19	24	41	42	42	46	46	42	45	45
Operating profit after depreciation	143	173	−55	−63	13	19	50	64	93	100	100
Other income	1	13	12	9	20	14	33	10	13	16	16
Finance costs	36	24	27	35	32	27	21	15	13	14	14
Profit before one-off items and tax	108	162	−70	−88	1	6	62	58	93	102	102
One-off items	1	0	−23	−10	0	−1	16	0	0	−3	−3
Profit before tax	109	162	−94	−98	1	5	78	58	93	99	98
	44	54	−28	13	6	−3	20	7	33	26	30
Current tax	–	58	10	7	12	14	26	−2	25	23	21
Deferred tax	–	−5	−38	5	−6	−17	−6	9	8	3	8
Share of profit of joint ventures and associates	−2	–	−1	0	−1	−1	0	–	–	–	–
	58	107	−67	−111	−6	8	58	51	60	73	68
Belonging to the company's shareholders	58	107	−66	−111	−6	11	66	57	64	76	71
Belonging to outside owners of subsidiaries	–	–	−1	0	−1	−3	−8	−5	−3	−3	−3
Other comprehensive income	–	–	2	−1	2	1	−2	−1	−1	2	0
Total comprehensive income	–	–	−64	−112	−5	9	55	50	60	75	69
Net margin	8.5%	13.5%	−12.8%	−26.0%	−1.5%	1.7%	9.4%	7.7%	8.4%	9.2%	8.4%
Net margin without joint ventures and associates	8.8%	–	−12.5%	−25.9%	−1.4%	1.8%	9.5%	–	–	–	–

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023Filed 30 May	Mar 2024	Mar 2025Filed 23 May	Mar 2026Filed 22 May
	933	821	837	847	904	944	990	1,051
	930	818	818	831	896	941	990	1,054
Share capital	17	17	17	18	18	18	18	18
Reserves	913	801	801	814	878	923	973	1,036
Belonging to outside owners of subsidiaries	3	3	19	16	8	3	−1	−3
	214	172	182	157	127	108	66	88
Repayable after a year	73	61	76	67	26	21	14	19
Repayable within a year	141	111	106	90	101	87	52	70
	418	365	291	257	264	280	217	276
Trade payables	194	158	118	122	108	152	118	155
Other financial liabilities	60	77	47	25	27	25	32	22
Other liabilities	20	15	12	12	13	14	13	26
Provisions	4	1	9	4	4	0	1	1
Tax owed	–	3	0	5	12	2	1	3
	80	104	107	89	52	50	59	69
Other financial liabilities	1	37	25	15	17	18	32	–
Other liabilities	6	0	0	0	0	0	0	36
Provisions	0	7	6	7	9	11	13	13
Deferred tax	–	0	0	0	0	0	0	0
Trade payables	1	0	0	0	0	0	0	0
	1,432	1,291	1,236	1,193	1,220	1,273	1,266	1,395
Held for sale or for a demerger	–	–	–	2	–	–	–	–
	669	704	687	675	667	652	666	670
Plant in use, after depreciation	115	96	87	79	81	80	85	96
Plant being built	0	0	0	0	1	0	0	6
Intangible assets	420	154	173	151	129	112	114	51
Goodwill	0	338	338	338	336	333	333	336
Intangible assets being developed	11	2	2	1	1	0	1	2
Investments	24	22	4	6	15	22	27	29
Stakes in joint ventures and associates	–	0	2	3	0	0	0	0
Loans given	10	6	4	0	0	0	0	0
Other financial assets	1	1	1	4	8	4	5	9
Deferred tax	59	54	67	84	91	83	76	72
Other assets	29	30	8	6	5	19	27	69
	762	586	549	516	553	622	600	726
Inventories	205	201	138	128	156	176	140	163
Trade receivables	445	335	322	292	265	260	275	350
Cash and cash equivalents	1	10	42	61	77	121	96	104
Other bank balances	60	0	7	7	4	6	21	8
Current investments	22	17	26	15	34	40	53	76
Loans given	7	6	4	0	0	0	0	0
Other financial assets	9	2	0	3	4	3	2	5
Tax paid in advance	–	1	–	0	0	1	0	1
Other assets	15	15	10	11	12	14	12	18
Net debt	132	146	107	74	12	−59	−103	−100

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021	Mar 2022	Mar 2023Filed 30 May	Mar 2024	Mar 2025Filed 23 May	Mar 2026Filed 22 May
	108	107	81	121	100	75
	68	121	99	144	126	86
	24	33	−11	16	−19	−62
Receivables	3	18	24	−8	−22	−77
Inventories	64	10	−29	−20	36	−21
Payables	−37	4	−11	44	−33	36
Other working capital	−5	1	5	−1	0	0
Tax paid	10	−12	−18	−23	−26	−11
Interest paid	31	0	0	0	0	0
Capital spending	12	16	16	18	25	36
Free cash flow	96	91	65	104	75	39
	−18	−3	−4	−24	−49	−49
Plant and property sold	1	3	0	1	1	1
Companies bought	0	0	0	0	0	−11
Interest received	1	3	1	1	1	8
Dividends received	0	0	0	0	0	0
	−58	−85	−61	−53	−75	−17
Borrowings raised	0	20	13	17	2	28
Borrowings repaid	−16	−66	−43	−35	−44	−6
Interest paid	−27	−24	−18	−13	−9	−9
Lease payments	−16	−16	−13	−12	−14	−16
Dividends paid	0	0	0	11	11	14
Shares bought back	0	0	0	0	0	0
Shares issued	0	1	1	1	0	0
Net change in cash	32	19	16	44	−25	8

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.S Chand and Company dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023Filed 30 May	Mar 2024	Mar 2025Filed 23 May	Mar 2026Filed 22 May
Earnings per share	₹19.50	₹31.14	−₹19.13	−₹31.87	−₹1.86	₹2.29	₹16.42	₹14.53	₹18.04	₹21.54
Diluted earnings per share	₹19.47	₹31.06	−₹19.13	−₹31.87	−₹1.86	₹2.29	₹16.40	₹14.53	₹18.03	₹21.54
Dividend per share	₹1.25	₹1.50	–	–	–	–	₹3.00	₹3.00	₹4.00	₹4.00
Book value per share	–	–	₹266.01	₹234.00	₹233.96	₹237.26	₹254.75	₹267.21	₹280.93	₹298.84
Dividend payout	–	4.9%	–	–	–	–	16.0%	18.7%	22.2%	18.6%
Shareholder yield	–	–	–	–	0.0%	−0.2%	−0.1%	1.2%	1.7%	3.0%
Market cap at the year end (₹ crore)	–	1,435	635	136	372	339	782	819	595	463

Ratios

Consolidated, years to March.S Chand and Company PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023Filed 30 May	Mar 2024	Mar 2025Filed 23 May	Mar 2026Filed 22 May
Revenue growth	–	16.1%	−34.3%	−17.7%	−1.0%	13.1%	26.9%	8.6%	8.6%	11.0%
Operating profit growth	–	12.8%	–	–	–	12.2%	56.9%	14.1%	22.9%	7.3%
Net profit growth	–	84.0%	–	–	–	–	616.3%	−11.2%	17.8%	21.4%
Earnings per share growth	–	59.7%	–	–	–	–	617.0%	−11.5%	24.2%	19.4%
	–	–	−7.1%	−12.7%	−0.7%	1.4%	7.6%	6.2%	6.6%	7.4%
	–	–	–	−5.7 pts	12.0 pts	2.1 pts	6.3 pts	−1.5 pts	0.4 pts	0.8 pts
From the net margin	–	–	–	−7.5 pts	12.1 pts	1.9 pts	5.0 pts	−1.6 pts	0.2 pts	0.5 pts
From asset turnover	–	–	–	2.0 pts	0.0 pts	0.2 pts	1.7 pts	0.3 pts	0.4 pts	0.4 pts
From borrowing	–	–	–	−0.1 pts	0.0 pts	−0.1 pts	−0.4 pts	−0.2 pts	−0.2 pts	−0.1 pts
Return on capital employed	–	–	−4.8%	−6.3%	1.3%	1.9%	4.8%	6.0%	8.8%	8.8%
Cash conversion	–	–	–	–	–	1,325.3%	140.8%	236.7%	165.8%	102.2%
Interest cover	4.0	7.2	–	–	0.4	0.7	2.4	4.2	7.2	7.1
Debt to equity	–	–	0.23	0.21	0.22	0.19	0.14	0.11	0.07	0.08
Receivable days	–	–	311	285	276	222	159	143	140	160
Inventory days	–	–	414	460	320	269	258	284	223	232
Payable days	–	–	393	361	274	257	178	245	188	221
Cash conversion cycle, days	–	–	332	383	323	234	239	183	175	172
Working capital days	–	–	282	260	248	202	164	144	135	151
Asset turnover	–	–	0.36	0.32	0.34	0.40	0.51	0.53	0.57	0.60
Assets per rupee of net worth	–	–	1.54	1.56	1.54	1.47	1.40	1.36	1.31	1.30
Sales per rupee of plant	–	–	4.53	4.48	4.89	6.06	7.54	8.31	8.51	8.31
Capital spending to depreciation	–	–	–	–	0.28	0.38	0.35	0.38	0.58	0.81
Plant being built, % of plant in use	–	–	0.2%	0.1%	0.3%	0.5%	1.2%	0.0%	0.2%	6.5%

Interest cover is left blank for the years to Mar 2019 and Mar 2020: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 5.7%
Cash from operations against operating profit: 51.6%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	13.4%	9.4%
Profit growth, yearly rate	–	–	4.8%
Return on equity, average	–	5.8%	6.7%
Return on capital employed, average	–	6.1%	7.9%
Operating margin, average	13.3%	16.4%	17.8%
Net margin, average	1.8%	7.3%	8.4%
Asset turnover, average	–	0.52	0.57
Cash conversion cycle, days, average	–	201	177
Interest cover, average	–	4.3	6.2
Debt to equity, average	–	0.12	0.09

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	483	296	75
Cash from investing	−130	−123	−49
Cash from financing	−291	−145	−17
Capital spending	111	78	36
Dividends paid	35	35	14
Shares bought back	0	0	0
Shares issued for cash	3	1	0
Borrowings raised	79	46	28
Borrowings repaid	194	85	6

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	7	8	7	7	8	5
Altman Z-scorePublished threshold 1.1	–	–	5.31	4.65	5.86	6.40	7.44	7.52	8.82	8.28
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.86	−2.91	−2.58	−2.79	−2.49	−2.34
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−7.64	−7.88	−1.58	−3.68	0.77	3.57
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	4.99	2.64	1.79	1.60
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−6.93	−2.85	−22.41	−36.09	−10.50	−2.77	16.25
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	9.89	−29.89	−17.41	−5.24	10.30	−21.71	4.53
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−1.55	−1.71	0.75	0.35	0.29	−0.48	1.08
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.01	0.01	0.01	0.02	0.00	0.00	0.11
Effective tax ratePublished threshold 17.16 per cent	39.96	33.21	–	–	1,006.38	−68.29	25.81	12.19	35.12	26.27
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	−299.10	2.28	−27.62	7.01	15.07

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
27 Aug 2026	CARE Ratings Limited	Fund-based - LT/ ST-Working Capital Limits	CARE A / CARE A1Review, Re-affirm	Stable	20
27 Aug 2026	CARE Ratings Limited	Non-fund-based - ST-Bank Guarantee	CARE A1Review, Re-affirm		3
27 Aug 2026	CARE Ratings Limited	Fund-based - LT-Term Loan	WithdrawnReview, Other
27 Aug 2026	CARE Ratings Limited	Fund-based - LT-Cash Credit	CARE AReview, Re-affirm	Stable	80
20 Nov 2025	ICRA Limited	Fund-based-Term loan	[ICRA]AReview, Other	Stable	10
20 Nov 2025	ICRA Limited	Fund-based-Overdraft	[ICRA]AReview, Other	Stable	100
5 Aug 2025	CARE Ratings Limited	Fund-based - LT/ ST-Vendor financing	CARE A / CARE A1Review, Upgrade	Stable	12.50
5 Aug 2025	CARE Ratings Limited	Fund-based - LT-Working Capital Limits	CARE AReview, Upgrade	Stable	8.31

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.