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Shetron Ltd (526137)

📊 NSE: 526137 🏢 Packaging 📅 Last Updated: 11/13/2025 15:25

📢 Recent Corporate Announcements

Shetron Q1 Revenue Up 25.6% YoY to Rs 86.37 Cr; Net Profit Rises 16.7% to Rs 1.89 Cr

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 14 Aug 2026, 05:59 PM

Shetron Ltd reported a 25.6% YoY increase in revenue from operations to Rs 86.37 crore (8,637 Lakhs) for the first quarter ended June 30, 2026, compared to Rs 68.79 crore in Q1 FY26. Profit before tax rose 19.2% YoY to Rs 2.79 crore, while net profit grew 16.7% YoY to Rs 1.89 crore (up from Rs 1.62 crore in Q1 FY26 and Rs 0.96 crore in Q4 FY26). Basic and diluted EPS improved to Rs 2.10 for the quarter compared to Rs 1.80 in the year-ago period.

Revenue from operations grew 25.6% YoY to Rs 86.37 cr (8,637 Lakhs) from Rs 68.79 cr in Q1 FY26
Net profit increased 16.7% YoY to Rs 1.89 cr (189 Lakhs) compared to Rs 1.62 cr in Q1 FY26
Quarterly EPS rose to Rs 2.10 versus Rs 1.80 in Q1 FY26 and Rs 1.07 in Q4 FY26
Cost of materials consumed rose to Rs 65.02 cr from Rs 50.39 cr in the year-ago quarter

💡 Track whether the revenue momentum sustains across upcoming quarters and assess how raw material price fluctuations impact gross margins.

Q1 Results: Shetron Revenue Up 25.6% YoY to Rs 86.37 Cr, PAT Rises 16.7% to Rs 1.89 Cr

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 14 Aug 2026, 05:58 PM

Shetron Limited reported a 25.6% YoY increase in revenue from operations to Rs 86.37 Cr (Rs 8,637 Lakhs) for the first quarter ended June 30, 2026, compared to Rs 68.79 Cr in Q1 FY26. Net profit rose 16.7% YoY to Rs 1.89 Cr (Rs 189 Lakhs) versus Rs 1.62 Cr in the corresponding quarter of the previous year. Profit before tax grew to Rs 2.79 Cr compared to Rs 2.34 Cr in Q1 FY26 and Rs 1.54 Cr in Q4 FY26. Basic and diluted EPS for the quarter came in at Rs 2.10, up from Rs 1.80 in Q1 FY26.

Revenue from operations grew 25.6% YoY to Rs 8,637 Lakhs (Rs 86.37 Cr) from Rs 6,879 Lakhs in Q1 FY26
Net profit after tax increased 16.7% YoY to Rs 189 Lakhs (Rs 1.89 Cr) versus Rs 162 Lakhs in Q1 FY26
Profit before tax stood at Rs 279 Lakhs compared to Rs 234 Lakhs in Q1 FY26 and Rs 154 Lakhs in Q4 FY26
Basic and diluted EPS stood at Rs 2.10 per share for the quarter against Rs 1.80 in Q1 FY26

💡 Monitor whether the quarterly revenue momentum sustains in subsequent quarters and observe margin resilience against raw material input price fluctuations.

Shetron Q1 Net Profit Rises 16.7% YoY to ₹1.89 Cr; Revenue up 25.6% to ₹86.37 Cr

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 14 Aug 2026, 05:51 PM

Shetron Limited reported a 25.6% YoY growth in standalone revenue from operations to ₹86.37 crore (8,637 lakhs) for the quarter ended June 30, 2026, compared to ₹68.79 crore in Q1 FY26. Standalone net profit rose 16.7% YoY to ₹1.89 crore (189 lakhs) from ₹1.62 crore in the prior-year period. Sequentially, net profit doubled from ₹0.96 crore in Q4 FY26, driven by a 40.8% QoQ revenue expansion. Basic and diluted EPS improved to ₹2.10 from ₹1.80 in Q1 FY26.

Revenue from operations grew 25.6% YoY to ₹86.37 crore (8,637 lakhs) vs ₹68.79 crore in Q1 FY26
Net profit increased 16.7% YoY to ₹1.89 crore (189 lakhs) compared to ₹1.62 crore in Q1 FY26
Profit before tax expanded to ₹2.79 crore (279 lakhs) vs ₹2.34 crore in Q1 FY26
Cost of materials consumed rose to ₹65.02 crore (6,502 lakhs) vs ₹50.39 crore in Q1 FY26
Basic and diluted EPS stood at ₹2.10 per share (face value ₹10) vs ₹1.80 YoY

💡 Track operating margin trajectory and tin plate raw material cost pressure in subsequent quarters to see if the >₹85 crore quarterly revenue run-rate sustains.

Aug 14 Board Meeting to Approve Q1 FY27 Financial Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 11 Aug 2026, 08:41 AM

Shetron Ltd has scheduled a board meeting on August 14, 2026, to consider and approve the un-audited financial results for the first quarter ended June 30, 2026. The company currently operates with a TTM revenue of Rs 165 Cr and a relatively high debt-to-equity ratio of 1.85. The trading window for insiders has been closed since July 1, 2026, and will remain so until 48 hours after the results are declared. This meeting is a routine regulatory requirement for quarterly reporting.

Board meeting scheduled for August 14, 2026, to approve Q1 results.
Financial results pertain to the quarter ended June 30, 2026.
Trading window closed from July 1, 2026, until 48 hours post-announcement.
Company reports a TTM revenue of Rs 165 Cr and PAT of Rs 2 Cr.

💡 Monitor the financial results on August 14, 2026, specifically looking for improvements in operating margins (currently 11.6%) and any updates on debt reduction strategies.

Rs 1.00 Dividend: Shetron Ltd Sets August 28, 2026, as Payment Date

🟢 POSITIVE ⭐ 5/10

DIVIDEND 📅 31 Jul 2026, 05:30 PM

Shetron Ltd has announced the payment date for its final dividend of Rs 1.00 per equity share (10% of face value) for FY 2025-26. The dividend was approved by shareholders at the 46th Annual General Meeting held on July 31, 2026. The scheduled payment date is August 28, 2026. With a TTM EPS of Rs 1.98, this dividend represents a payout ratio of approximately 50.5%, which is significant given the company's high debt-to-equity ratio of 1.85.

Dividend of Rs 1.00 per equity share approved for FY 2025-26
Dividend represents 10% of the face value of Rs 10 per share
Payment date for the final dividend is fixed for 28th August 2026
Approval obtained during the 46th AGM held on 31st July 2026

💡 Investors should note the payment date of August 28, 2026. While the dividend is a positive sign of cash distribution, investors should monitor the company's high debt levels (Rs 76 Cr) relative to its market cap (Rs 84 Cr).

Shetron Ltd Shareholders Approve Re-appointment of Joint MD for 3-Year Term

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 31 Jul 2026, 05:28 PM

Shareholders of Shetron Ltd have approved the re-appointment of Mr. Kartik Nayak as Joint Managing Director at the 46th AGM held on July 31, 2026. The appointment is for a three-year term effective retrospectively from May 15, 2026. Mr. Nayak, a relative of Executive Chairman Mr. Diwakar S Shetty, continues his role in a company with TTM revenue of ₹165 Cr and a high debt-to-equity ratio of 1.85. This move ensures leadership continuity for the packaging firm.

Re-appointment of Mr. Kartik Nayak as Joint Managing Director for a further term of 3 years
The term is effective from May 15, 2026, following shareholder approval at the 46th AGM
Mr. Nayak is a relative of Mr. Diwakar S Shetty, the Executive Chairman and Whole Time Director
The company maintains a TTM revenue of ₹165 Cr with a thin PAT of ₹2 Cr

💡 Investors should monitor if the continued leadership can improve operating margins (currently 11.6%) and address the high supplier dependency (up to 54% of procurement).

View All 526137 Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue was INR 230.1 Cr in FY2025, a decline of 4.3% from INR 240.4 Cr in FY2024. Growth in the battery jackets segment remains range-bound due to limited demand, while the food packaging division is the primary growth driver through incremental sales of value-added products. H1 FY2026 revenue stood at INR 129.2 Cr, indicating a recovery trend.

Geographic Revenue Split

Exports accounted for 20-22% of total revenues over the last three years, with the remaining 78-80% derived from the domestic Indian market.

Profitability Margins

Operating Profit Margin (OPM) moderated to 8.2% in FY2025 from 9.8% in FY2024 (a 173 bps decline). Net Profit Margin (NPM) fell to 1.34% in FY2025 from 2.71% in FY2024. H1 FY2026 OPM further declined to 7.0% due to lower margins on food cans compared to battery jackets.

EBITDA Margin

EBITDA margin (OPM) was 8.2% in FY2025. Core profitability is impacted by the shift in product mix toward food cans, which carry lower margins than the legacy battery jacket business, and fluctuations in raw material prices.

Capital Expenditure

The company has no major debt-funded capital expenditure plans in the near-to-medium term, having recently completed capacity additions in the food can division. Repayment obligations are INR 4.5 Cr for FY2025 and INR 3.8 Cr for FY2026.

Credit Rating & Borrowing

Long-term rating is [ICRA]BB+ (Positive), reaffirmed in November 2025. Short-term rating is [ICRA]A4+. Interest coverage improved to 3.0x in H1 FY2026 from 2.3x in H1 FY2025 due to better bill discounting terms.

⚙️ Operational Drivers

Raw Materials

Tin plates are the primary raw material, representing the largest component of the cost structure for manufacturing battery jackets and food cans.

Import Sources

Raw materials are sourced from domestic markets and imported from Taiwan, China, Japan, South Korea, and Germany. Imports account for 12-15% of total requirements.

Key Suppliers

Not specifically named, but the company faces high supplier concentration with a single supplier meeting 46% of requirements in FY2025 and 54% in the first five months of FY2026.

Capacity Expansion

Current manufacturing plants are located in Bangalore (Karnataka) and Asangaon (Maharashtra). Recent capacity expansions were focused on the food can division to capture growing demand in the F&B sector.

Raw Material Costs

Profitability is highly vulnerable to tin plate price fluctuations. The company uses a natural hedge for 12-15% of its requirements through imports to mitigate some forex and price risk.

Manufacturing Efficiency

The company focuses on process improvements and skill building to maintain competitiveness and achieve customer satisfaction through stringent quality norms.

📈 Strategic Growth

Expected Growth Rate

12%

Growth Strategy

Growth will be driven by the food packaging division's value-added products and a venture into general packaging, which offers less seasonality. The company aims to leverage its 30+ years of promoter experience and established relationships with FMCG and battery majors to increase market share.

Products & Services

Metal cans for food, dry cell battery jackets and components, printed metal sheets, and general packaging solutions.

Brand Portfolio

Shetron Limited (The Name Behind The Names).

New Products/Services

The company has recently ventured into the general packaging business and value-added food packaging lines to diversify revenue streams.

Market Expansion

Focusing on international markets (currently 20-22% of revenue) and expanding the domestic customer base in the pharmaceutical and fruit processing sectors.

🌍 External Factors

Industry Trends

The industry is shifting from plastic to recyclable metal packaging due to environmental regulations and a ban on single-use plastics. Canned F&B demand is growing due to changing consumer lifestyles.

Competitive Landscape

Competes with other metal packaging firms and alternative packaging material providers; however, metal's infinite recyclability provides a regulatory advantage.

Competitive Moat

The moat is built on 30+ years of industry experience, long-standing relationships with global suppliers, and high switching costs for battery manufacturers requiring specific jacket components.

Macro Economic Sensitivity

Highly sensitive to global metal prices (tin) and domestic F&B consumption trends. Changes in plastic ban regulations significantly favor the company's metal packaging products.

Consumer Behavior

Increasing preference for canned, ready-to-eat food and beverages is driving demand for the company's food can division.

Geopolitical Risks

Trade barriers or supply chain disruptions in Taiwan, China, or South Korea could impact raw material availability given the 54% supplier concentration.

⚖️ Regulatory & Governance

Industry Regulations

Subject to labor laws, pollution norms, and SEBI (LODR) regulations. The company maintains ISO 9001:2015 certification for quality management.

Environmental Compliance

Complies with tightening emission standards and waste disposal regulations. Promotes metal as a sustainable alternative to plastic due to its infinite recyclability.

Legal Contingencies

As of May 2025, no directors have been debarred or disqualified by SEBI or the Ministry of Corporate Affairs. No specific pending litigation values were disclosed.