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SG Mart Limited (SGMART) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of SG Mart Limited ₹161, price ₹742, upside -78.3%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Industrials · IN

SM Some data Oct 2, 2026

SG Mart Limited

SGMART · NSE

Weakest SetupStrongly overvalued and low quality.

!Fair value ₹160.94 · Strongly overvalued (−78.3%)
!Quality 40/100
!Mixed Growth (revenue 5y +298.2 %/yr)
!Thin margins · 1.9% net margin (TTM)
✓Low debt · generates free cash flow
!Trails peers (2/13)
!Narrow moat 28/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹842.30 ₹319.35 Fair Value ₹160.94 Sep 2025 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 2, 2026.

How to read this chart

13‑month range ₹319.35 – ₹842.30 · fair‑value band ₹91.72 – ₹196.18 · the ₹742.20 price screens above the ₹160.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 2, 2026.

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Company profile

SG Mart Limited, together with its subsidiaries, trades in building material products in India and internationally. The company distributes downstream steel products, including thermo-mechanically treated (TMT) bars, angles, channels, mesh net wires, binding wires, and related items; welding wires; and hot rolled coils, steel billets, and zinc ingots.

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SG Mart Limited, together with its subsidiaries, trades in building material products in India and internationally. The company distributes downstream steel products, including thermo-mechanically treated (TMT) bars, angles, channels, mesh net wires, binding wires, and related items; welding wires; and hot rolled coils, steel billets, and zinc ingots. It also trades in mesh nets; welding rods; steel tubes; sanitaryware; bath fittings; laminates; galvanised and hot rolled sheets; ceramic range of tiles; premium tiles adhesive and grouts; double charge tiles; home appliances; lighting for domestic, commercial and industrial applications; modular switches and wiring accessories; water heaters; and industrial and domestic circuit protection switchgears, cables, and wires. In addition, the company processes building material products, including cut to length, chequered, and slitted steel sheets. Further, it supplies solar module mounting structures. The company sells its products through the APL Apollo SG TMT, APL Apollo Agni, and Strong brands. The company was formerly known as Kintech Renewables Limited and changed its name to SG Mart Limited in October 2023. SG Mart Limited was incorporated in 1985 and is based in Noida, India.

Stock analysis

SG Mart Limited (SGMART) currently trades at ₹742.20, while our model-based Fair Value estimate is ₹160.94, 78.3% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ₹403.28 per share, and 0 of the 22 models we run sit above the ₹742.20 price.

Bear case: the Asset-Based group reads lowest at ₹84.84, and 22 of the 22 models stay below the price. Evidence for this calculation is medium.

Scenario range: ₹91.72 (bear) to ₹196.18 (bull), the price of ₹742.20 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 40/100 (below-average quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

SG Mart Limited reported revenue of ₹63.2B in FY2026 versus ₹374K in FY2022, a compound +1,927.1%/yr. Reported net income was ₹1.1B in FY2026, compounding +338.4%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.

Key figures

Market cap ₹92.4B (≈ $959M) · P/E ratio 75.5 · P/S ratio 1.33 · EPS (TTM) ₹9.83 · Net margin 1.8% · Return on equity 7.9% · Return on assets (EBIT) 1.8% · Operating margin 4.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 12% below its 52-week high and 132% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −30% fair-value upside, at −78%, SGMART screens richer than that median.

Fair Value models

Bear ₹91.72 Fair Value ₹160.94 Bull ₹196.18
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹4.98 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF ₹110.46 ₹142.28 ₹237.40 77
Growth DCF ₹106.08 ₹153.32 ₹227.55 76
EPV ₹100.34 ₹108.40 ₹115.11 74
All 22 models by family
DCF Models
FCF DCF ₹110.46 ₹142.28 ₹237.40 77
5Y Revenue Exit ₹130.32 ₹202.38 ₹353.75 68
5Y EBITDA Exit ₹136.46 ₹214.78 ₹368.51 71
5Y P/E Exit ₹159.26 ₹317.37 ₹534.86 66
10Y Revenue Exit ₹120.62 ₹228.43 ₹301.21 64
10Y EBITDA Exit ₹128.15 ₹240.49 ₹438.31 63
10Y P/E Exit ₹143.36 ₹285.27 ₹522.55 59
Earnings-Based
Graham-Dodd ₹59.90 ₹417.75 ₹586.24 61
Lynch FV ₹215.82 ₹308.32 ₹400.81 59
PEG = 1.0 ₹215.82 ₹308.32 ₹400.81 55
EPV ₹100.34 ₹108.40 ₹115.11 74
Multiples
P/E Multiple ₹138.74 ₹184.99 ₹231.24 63
P/S Multiple ₹112.32 ₹149.75 ₹187.19 58
P/B Multiple ₹112.32 ₹149.75 ₹187.19 55
EV/EBIT ₹167.85 ₹210.06 ₹252.26 66
EV/EBITDA ₹146.95 ₹182.19 ₹217.43 67
EV/Revenue ₹131.61 ₹170.34 ₹209.06 54
Asset-Based
NCAV (Graham) ₹63.32 ₹84.84 ₹126.63 54
Growth DCF
Growth DCF ₹106.08 ₹153.32 ₹227.55 76
Economic Profit
Residual Income ₹96.34 ₹98.81 ₹106.89 68
ROIC Compounder ₹100.34 ₹108.40 ₹115.11 70
Growth Earnings
Growth-Adj P/E ₹282.30 ₹403.28 ₹524.26 65

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Quality Score breakdown

Overall quality 40/100

Of which business quality 45 · Market factors (momentum, volatility) 86

Profitability 43
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 30
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 92
Price trend over the last 3–12 months (market factor)
52W Momentum 91
Distance to the 52-week high (market factor)
Net Issuance 9
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1,494.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+298.2%
Start year 2021 (pandemic). Over 10 years: +138.6% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+138.6%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−0.2% (2021) → 2.0% (2026)

Growth Forecast

A lot of optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
more than +80 %
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.

SGMART screens overvalued: fair value 78% below the price. Compare with W.W. Grainger, Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Industrial Distribution · 106 stocks

Beats the industry median on 1/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 40 · Bottom 25%
Fair Value upside −79.8% · Bottom 25%
Profitability
Return on equity (TTM) 7.9% · Below median
Return on assets 3.4% · Below median
Net margin (TTM) 1.8% · Below median
Operating margin (TTM) 2.9% · Below median
Growth and dividend
Revenue growth 17.5% · Top 25%

Valuation Multiplesvs Industrial Distribution median · lower = cheaper

P/E (TTM) 75.5× · Priciest 25%
P/B 5.79× · Priciest 25%
P/S (TTM) 1.46× · Priciest 25%
P/FCF 354.6× · Priciest 25%
EV/EBITDA 63.8× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 39
FUTURE (revenue growth)72 · sector 23
PAST (return on equity)32 · sector 37
HEALTH (low debt)100 · sector 92
DIVIDEND (yield)0 · sector 39

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Cite: Fair Value Calculator (2026). "SG Mart Limited Fair Value". https://www.fairvalue-calculator.com/stock/SGMART

Frequently asked questions

Is SG Mart Limited (SGMART) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of ₹160.94 versus a price of ₹742.20, about −78% upside (overvalued).
What is the fair value of SGMART?
Our model-based fair value for SG Mart Limited is ₹160.94 (as of Oct 2, 2026), built from audited fundamentals. The current price: ₹742.20.
What is the quality score of SGMART?
SG Mart Limited has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for SG Mart Limited (SGMART)?
Our model-based price target is the fair value of ₹160.94 (as of Oct 2, 2026) from 22 valuation models. Cautious scenario ₹91.72, optimistic scenario ₹196.18. It is a calculation from audited fundamentals, not an analyst target.
What is the SG Mart Limited stock forecast for 2026?
Our models put fair value at ₹160.94, about −78% upside versus a price of ₹742.20 (overvalued). Cautious scenario ₹91.72, optimistic scenario ₹196.18. The calculation is refreshed regularly with new filings.
What is the revenue of SG Mart Limited (SGMART)?
SG Mart Limited reported trailing-twelve-month revenue of about ₹64.8B (latest available figure, as of Oct 2, 2026).
What growth is priced into SG Mart Limited (SGMART)?
For today's price to be fair in a discounted-cash-flow model, SG Mart Limited would have to grow free cash flow by more than 80 % per year for five years (discount rate 13.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +298.2 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of SGMART use?
Our models discount SG Mart Limited at 13.9 %: a base by market capitalisation (small), country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For SG Mart Limited that is more than 80 % per year a year over ten years, using the same discount rate (13.9 %) and the same formula as our fair value.
How much growth has SG Mart Limited (SGMART) delivered so far?
Over the past 5 years revenue at SG Mart Limited grew +298.2 % a year. The price currently implies more than 80 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of SG Mart Limited (SGMART) growing?
The median revenue growth in the sector is +6.3 % a year. That is the yardstick for the growth priced into SG Mart Limited (more than 80 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of SG Mart Limited (SGMART)?
The free-cash-flow yield on the price is 0.28 %: that much free cash flow SG Mart Limited produces per unit of market value. When it exceeds the discount rate of our models (13.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SG Mart Limited (SGMART)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SG Mart Limited it is ₹160.94 per share (as of Oct 2, 2026), against a price of ₹742.20. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is SG Mart Limited stock overvalued or undervalued in 2026?
As of Oct 2, 2026, SGMART trades above its calculated fair value: price ₹742.20, fair value ₹160.94, a gap of about −78% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SGMART?
No. The price is what the market pays today (₹742.20); the fair value is what the company's own numbers justify (₹160.94). For SG Mart Limited the two are ₹581.26 per share apart. That gap is exactly why we show both numbers side by side.
How much is SG Mart Limited worth?
The market values SG Mart Limited at about ₹92.4B (market capitalisation, as of Oct 2, 2026). Per share that is ₹742.20; our models calculate a fair value of ₹160.94 per share.
What do the bullish and bearish scenarios say about SGMART?
Our models span a range for SG Mart Limited: cautious scenario ₹91.72, base ₹160.94, optimistic ₹196.18 per share (as of Oct 2, 2026, price ₹742.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SGMART?
SG Mart Limited trades at a price-to-earnings ratio of 75.5 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹160.94 is built from several models across several years. Other multiples: P/B 5.8, P/S 1.5, EV/EBITDA 63.8.
How solid is the balance sheet of SG Mart Limited (SGMART)?
Balance-sheet figures for SG Mart Limited (as of Oct 2, 2026): return on equity 7.9%. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is SGMART from its 52-week high?
SG Mart Limited trades at ₹742.20, about 12% below its 52-week high of ₹842.30 and 132% above the low of ₹319.35 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹160.94 is for.
Which stocks are comparable to SG Mart Limited?
From the same area (Industrials) we also value W.W. Grainger, Inc, Fastenal Company, Ferguson Enterprises Inc, WESCO International, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SG Mart Limited stock attractive at the current price?
The data as of Oct 2, 2026: price ₹742.20, calculated fair value ₹160.94 (−78%), Quality Score 40/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SGMART calculated?
We run SG Mart Limited through 22 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹160.94, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. SG Mart Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of SG Mart Limited (SGMART)?
The closing price on Oct 1, 2026 was ₹742.20. Our model-based fair value is ₹160.94, about −78% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SG Mart Limited right now?
The price sits above even our optimistic bull case (₹196.18). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (₹91.72 to ₹196.18) leaves room in how you read the outcome.
Where does the earnings growth of SG Mart Limited (SGMART) come from?
Earnings per share at SG Mart Limited grew +23.4 % a year from 2016 to 2026. Broken into its drivers: revenue per share +82.0 %, EBIT margin −36.4 %, tax rate −2.4 %, residual (interest, one-offs) +9.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of SG Mart Limited

How large is the market capitalisation of SG Mart Limited (SGMART)?
The market capitalisation of SG Mart Limited is ₹92.4B (≈ $959M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of SG Mart Limited (SGMART)?
The price-to-sales ratio of SG Mart Limited is 1.33 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SG Mart Limited (SGMART)?
Earnings per share at SG Mart Limited are ₹9.83 (price ÷ EPS = P/E 75.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of SG Mart Limited (SGMART)?
The net margin of SG Mart Limited is 1.8% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of SG Mart Limited (SGMART)?
The return on equity (ROE) of SG Mart Limited is 7.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of SG Mart Limited (SGMART)?
On an EBIT basis the return on assets of SG Mart Limited is 1.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of SG Mart Limited (SGMART)?
The operating margin of SG Mart Limited is 4.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SG Mart Limited (SGMART)?
Revenue at SG Mart Limited is growing +14.4% versus a year earlier (3y avg +1,494%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at SG Mart Limited (SGMART)?
Earnings per share at SG Mart Limited are growing +34.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does SG Mart Limited (SGMART) hold?
SG Mart Limited holds more cash than debt, ₹2.5B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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