Sahyadri Industries Limited, incorporated in 1947 and headquartered in Pune, India, is a well-established player in the building materials industry with over seven decades of operational experience. Founded by Late Shri. L. B. Patel as part of The Patel Group, the company operates through two primary business segments: Building Material and Power Generation. It serves both interior and exterior building systems, along with roofing solutions across the Indian market.
Sahyadri Industries is engaged in the production of cement sheets and accessories, trading of steel doors, and generation of wind power electricity. The company manufactures and sells fiber cement products, building materials, and engineering goods in India. It has positioned itself as a comprehensive building materials provider, catering to both urban and rural construction needs across different income segments.
The Building Material segment encompasses the manufacturing and trading of asbestos sheets, flat sheets, non-asbestos flat sheets, accessories for roofing products, doors, and other building materials. The company manufactures and sells products such as asbestos corrugated sheets and boards and non-asbestos cement boards through a network of over 3,000 distributors. Key product offerings include Swastik Gold, Swastik Roofs, Swastik Twinroof, Cemply, Bullboards, Ecopro, Swachhalay, S3 Modular Homes, and Swastik Kukdookoo. Products like Swastik roofs and Cemply flat sheets are utilized for building robust structures.
The company operates through five operational manufacturing units strategically located across Maharashtra, Tamil Nadu, Andhra Pradesh, and Gujarat, enabling efficient distribution and market reach across key regions in India.
The Power Generation segment focuses on electricity generation through windmills. The company operates nine wind turbine generators across Maharashtra and Rajasthan. This renewable energy initiative demonstrates the company's commitment to sustainable business practices and diversified revenue streams beyond traditional building materials.
The market capitalization of Sahyadri Industries Ltd stands at ₹312.02 crores as of May 20, 2025, positioning it as a mid-cap company in the building materials sector. The stock currently trades with a PE ratio of 15.52 and a PB ratio of 1.24 as of April 22, 2025.
The company's revenues stood at ₹6,384 million in FY24, reflecting a 6.9% increase compared to ₹5,975 million reported in FY23. Over the past five years, revenue has grown from ₹2,858 million in FY20 to ₹6,384 million in FY24, representing a CAGR of 22.3%.
However, profitability has faced challenges in recent periods. Net profit declined to ₹264 million in FY24, down 28.9% compared to ₹371 million reported in FY23. Net profit margins decreased from 6.2% in FY23 to 4.2% in FY24.
The company's quarterly results show mixed performance across recent periods:
- Q3 FY25 (December 2024): Net profit declined 76.03% to ₹0.76 crore compared to ₹3.17 crore in December 2023, while sales decreased 3.62% to ₹129.71 crore from ₹134.58 crore.
- Q2 FY25 (September 2024): Sales declined 14.00% to ₹103.22 crore compared to ₹120.02 crore in September 2023, with net profit falling 49.08% to ₹1.93 crore from ₹3.79 crore.
- Q1 FY25 (June 2024): Net profit decreased 17.34% to ₹12.49 crore compared to ₹15.11 crore in June 2023, while sales declined 3.52% to ₹216.67 crore from ₹224.57 crore.
The company maintains an annual revenue growth of 7%, with a pre-tax margin of 6% and ROE of 7%. Sahyadri Industries maintains a reasonable debt-to-equity ratio of 9%, indicating a healthy balance sheet structure. The current dividend yield stands at 0.34%, with the last dividend per share being 1.00 INR.
The stock has a 52-week high of ₹450 and a 52-week low of ₹211, indicating significant volatility over the past year. The company reached its all-time high of 484.10 INR on September 11, 2023, while the all-time low of 211.00 INR was recorded on March 3, 2025.
The stock exhibits 9.35% volatility with a beta coefficient of 0.76, suggesting moderate price fluctuations relative to market movements. Over the past year, the stock has shown a 21.05% decrease, though it has gained 3.67% compared to the previous week and 6.79% over the month.
Promoter holding in Sahyadri Industries has remained stable at 71.12% as of December 2024, indicating strong management control and confidence in the business. The company employs 748 people as of May 20, 2025, reflecting its operational scale and workforce requirements.
Sahyadri Industries continues to navigate the competitive building materials market while expanding its renewable energy portfolio. However, recent quarterly performance indicates challenges that require strategic attention to restore growth momentum and profitability levels.
