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Standard Glass Lining Technology Ltd.
(SETL)
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Rating:66Neutral
Price Target:
₹357.00
▲(105.00% Upside)
Action:Downgraded
Date:07/02/26
The score is driven primarily by solid financial performance (strong growth, profitability, and low leverage) but is held back by weak cash-flow conversion and negative free cash flow. Technicals are strong with the stock well above moving averages, though extremely overbought momentum raises pullback risk. Valuation is a key constraint due to the very high P/E and no dividend support.
Positive Factors
Revenue and Profitability
Strong revenue expansion combined with double-digit net margins indicates meaningful operating scale and continued product or market demand. This gives the company a durable base for growth, although sustaining profitability will depend on managing costs and protecting pricing.
Negative Factors
Negative Free Cash Flow
Negative free cash flow means reported earnings are not yet translating into internally available cash. Persistent investment and working-capital demands could increase reliance on financing or balance-sheet capacity, limiting flexibility during expansion and weakening the quality of growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Profitability
Strong revenue expansion combined with double-digit net margins indicates meaningful operating scale and continued product or market demand. This gives the company a durable base for growth, although sustaining profitability will depend on managing costs and protecting pricing.
Read all positive factors
Standard Glass Lining Technology Ltd. (SETL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹62.79B
Dividend YieldN/A
Average Volume (3M)14.90K
Price to Earnings (P/E)77.2
Beta (1Y)1.73
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees546
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)4.28
Shares Outstanding199,491,670
10 Day Avg. Volume18,480
30 Day Avg. Volume14,898
Financial Highlights & Ratios
PEG Ratio1.69
Price to Book (P/B)2.67
Price to Sales (P/S)2.72
P/FCF Ratio-385.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)6
Revenue Forecast (FY)₹9.51B
Standard Glass Lining Technology Ltd. Business Overview & Revenue Model
Company Description
Standard Engineering Technology Limited, an engineering equipment producer headquartered in Hyderabad, India since its incorporation in 2012, extends its operations both domestically and across global markets. The company specializes in providing ...
Standard Glass Lining Technology Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
85
Very Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.49B | 7.74B | 6.12B | 5.43B | 4.96B | 2.40B |
| Gross Profit | 2.60B | 1.99B | 2.33B | 1.93B | 1.75B | 952.04M |
| EBITDA | 1.39B | 1.38B | 1.19B | 1.00B | 874.57M | 415.25M |
| Net Income | 855.22M | 800.45M | 643.45M | 583.83M | 534.24M | 251.45M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 12.54B | 9.58B | 6.65B | 3.48B | 2.98B |
| Cash, Cash Equivalents and Short-Term Investments | 1.99B | 1.15B | 2.68B | 1.37B | 90.32M | 1.17M |
| Total Debt | 0.00 | 826.84M | 678.12M | 1.29B | 819.62M | 698.08M |
| Total Liabilities | -7.98B | 4.56B | 2.46B | 2.56B | 1.92B | 2.29B |
| Stockholders Equity | 7.98B | 7.89B | 7.07B | 4.07B | 1.56B | 689.59M |
Cash Flow | ||||||
| Free Cash Flow | -253.02M | -54.73M | -225.39M | -986.31M | -276.95M | -124.49M |
| Operating Cash Flow | -40.98M | 552.79M | 52.48M | -650.28M | 17.51M | -71.49M |
| Investing Cash Flow | -578.15M | -561.90M | -1.60B | -1.57B | -290.17M | -297.38M |
| Financing Cash Flow | 635.13M | 65.35M | 1.41B | 2.32B | 325.70M | 369.97M |
Standard Glass Lining Technology Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹62.79B | 77.20 | ― | ― | ― | ― | |
62 Neutral | ₹99.95B | 98.62 | ― | ― | 64.04% | 78.58% | |
60 Neutral | ₹21.89B | 60.39 | ― | 0.24% | 26.31% | -37.13% | |
58 Neutral | ₹12.30B | 44.56 | ― | 0.40% | -3.87% | -19.01% | |
56 Neutral | ₹45.19B | 61.36 | ― | 0.25% | 13.91% | 73.54% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹139.68B | -1.86 | ― | 0.51% | 4.63% | -4.40% |
* General Sector Average
IN:SETL
Standard Glass Lining Technology Ltd.
330.45
149.55
82.67%
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Standard Glass Lining Technology Ltd. Corporate Events
Standard Engineering Technology Sets Digital AGM, Boosts Shareholder Outreach
Aug 23, 2026
Standard Engineering Technology Limited, a publicly listed engineering and industrial manufacturing company based in Hyderabad, operates corporate, registered, and manufacturing facilities across Telangana. Its origins in glass lining technology a...
Standard Engineering Technology Posts Strong Q1, Moves Deeper into AI Datacenter and Advanced Glass-Lining
Aug 6, 2026
Standard Engineering Technology Limited reported strong Q1 FY27 results, with total income rising 41.5% year-on-year to Rs 252.2 crore, EBITDA up 27.3% to Rs 44.1 crore, and profit after tax increasing 26.6% to Rs 26.7 crore, underscoring broad-ba...
Standard Engineering Technology Makes Strategic Investment in Japan’s GL HAKKO
Jul 6, 2026
Standard Engineering Technology Limited has disclosed an investor presentation detailing a strategic equity investment in GL HAKKO Co., Ltd. of Japan, a global leader in advanced glass-lined process equipment with a 70-year heritage and more than ...
SETL Buys Strategic Stake in Japan’s GL Hakko to Boost Glass-Lined Equipment Capacity
Jul 6, 2026
Standard Engineering Technology Limited will invest INR 70 crore for a 19.19% equity stake in Japan’s GL Hakko Co., Ltd., a glass-lined process equipment manufacturer allied with its key technology partner AGI Group. The deal, funded entirel...
Standard Engineering Expands AI Datacenter Push With GScale Acquisition Addendum
Jun 29, 2026
Standard Engineering Technology Limited has announced an addendum to its June 25, 2026 investor presentation related to its proposed acquisition of up to a 51% equity stake in GScale Energy Private Limited. The document offers expanded details on ...
Standard Engineering Technology Denies Undisclosed Triggers Behind Share Price Surge
Jun 23, 2026
Standard Engineering Technology Limited has responded to a query from the National Stock Exchange of India regarding the recent significant movement in its share price, stating that it is fully compliant with Regulation 30 of the SEBI Listing Obli...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.