Samyak International Limited

Energy — Oil & Gas Refining & Marketing · BSE

₹21.60₹0.00 (0.00%)

DalalBaazaar Score

36 / 100

🔴 Weak

Verdict

CAUTION

Risk

Very High

Driven by high debt relative to equity, the company is currently loss-making, micro-cap size, which brings thin liquidity.

In simple words: The company is currently losing money, with both sales and profits growing well. Debt is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:46 pm

Understanding the Business

Company site ↗

The 60-second version of Samyak International Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Samyak International Limited imports and trades in various petroleum products, aluminum caps, and other commodities in India.

IndustryOil & Gas Refining & Marketing

SectorEnergy

Employees8

Annual revenue₹42 Cr

How does it make money?

Turns over ₹42 Cr a year. Of every ₹100 of sales, about ₹0 reaches shareholders as profit, with ₹2 left at the operating level before interest, tax and depreciation. Each of its 8 employees supports ₹5.28 Cr of revenue a year, the signature of a capital- or asset-led business.

Revenue / employee₹5.28 Cr

Who are its competitors?

The closest listed comparisons in its industry are RELIANCE INDUSTRIES LTD, OIL AND NATURAL GAS CORP., BHARAT PETROLEUM CORP LT, INDIAN OIL CORP LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of 2.2% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE15.4%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved -7% while net margin moved -99% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect-7%

Margin effect-99%

DalalBaazaar Score

36/ 100

Weak

Weighted across six categories. Every point is explained below.

✗ Revenue has contracted at 2.3% a year
✗ Profit has declined at 76.5% a year

Quality vs. Valuation

Company Quality

33/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

30/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

No P/E — the company is lossmaking

EV/EBITDA

31.3x

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Debt is being paid down
Total debt is down 85% over 3 years.
Cash generation is improving
Free cash flow is up 144% over 3 years.

🔴 What Needs Attention1

Return on equity is falling
ROE has dropped from 3.8% to 0.1% — each rupee of shareholder capital earns less than it did.

Red Flags

4 items require attention · 2 high · 2 watch

🔴High leverageFinancial
Debt/Equity of 2.77x — earnings must service borrowings before shareholders see anything.
🔴Significant margin compressionFinancial
EBITDA margin has fallen 12.8 points, from 14.8% to 2.0%.
🟡Profit is decliningFinancial
Net profit is down 99% over 3 years.
🟡Shareholders have been dilutedOwnership
Shares outstanding are up 28% over 3 years — each existing share owns a smaller slice of the company.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Deleveraging frees up earnings
Debt is down 85% over 3 years. Every rupee of interest not paid drops to the bottom line, so profit can grow even if revenue does not.

🔴 Bear CaseWhat could go wrong?

Margins are being competed away
EBITDA margin has fallen from 14.8% to 2.0%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
Leverage amplifies any setback
Debt/Equity of 2.77x. Interest is payable whether or not the business has a good year.
Returns on shareholder capital are falling
ROE has dropped from 3.8% to 0.1%. Each rupee of equity earns less than it did, so profit growth increasingly depends on raising more capital rather than on the existing base working harder.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above 0%✓ 2.0%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Interest cover stays above 3x✗ 2.4x
How much operating profit can fall before interest stops being comfortably covered.
3Free cash flow remains positive✓ ₹6 Cr
Profit that never becomes cash eventually stops being profit.
4Debt / EBITDA stays below 2x✓ 1.9x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
5ROCE stays above 8%✗ 2.2%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

7 / 11 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✗ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

4 good · 2 neutral · 5 weak

Market Cap

₹26 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

0.30x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹-0.96

Loss-making

Negative earnings per share — the business is losing money

ROE

0.1%

Weak

Weak capital efficiency

ROCE

2.2%

Weak

Low return on total capital employed

Debt/Equity

2.77x

High

High leverage

Revenue Growth (YoY)

36.2%

Healthy

Healthy top-line growth

Profit Growth (YoY)

112.0%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

₹6 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

Operating Margin

8.8%

Average

Average margins

Net Margin

2.7%

Weak

Very little revenue reaches the bottom line

Current Ratio

1.07

Adequate

Adequate, but no real cushion

Beta (vs Nifty)

0.69

Defensive

Steadier than the market

52W Range Position

72%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

20.7 / 18.5

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

64.8

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹45 Cr	₹38 Cr	₹41 Cr	₹42 Cr	-2.3%
EBITDA	₹7 Cr	₹8 Cr	₹5 Cr	₹1 Cr	-49.5%
EBITDA Margin	14.8%	21.1%	12.6%	2.0%	—
PAT (Net Profit)	₹3 Cr	₹3 Cr	-₹0 Cr	₹0 Cr	-76.5%
EPS	₹4.17	₹4.46	₹-0.35	₹0.04	-78.3%
ROE	3.8%	6.5%	-0.5%	0.1%	—
ROCE	3.9%	9.5%	2.3%	2.2%	—
Total Debt	₹11 Cr	₹4 Cr	₹3 Cr	₹2 Cr	-46.9%
Free Cash Flow	₹2 Cr	₹11 Cr	-₹0 Cr	₹6 Cr	+34.6%

🔴 Revenue has shrunk at 2.3% a year over 3 years.

🔴 EBITDA has shrunk at 49.5% a year over 3 years.

🔴 EBITDA Margin has fallen from 14.8% to 2.0% over 3 years (-12.8 pts).

🔴 PAT (Net Profit) has shrunk at 76.5% a year over 3 years.

🔴 EPS has shrunk at 78.3% a year over 3 years.

🔴 ROE has fallen from 3.8% to 0.1% over 3 years (-3.7 pts).

🔴 ROCE has fallen from 3.9% to 2.2% over 3 years (-1.7 pts).

🟢 Total Debt has shrunk at 46.9% a year over 3 years.

🟢 Free Cash Flow has grown at 34.6% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹75 Cr

Total Liabilities

₹15 Cr

Cash & Equivalents

₹1 Cr

Operating Cash Flow

₹7 Cr

Capex

-₹2 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

73.9%

Corporate Actions

Ex-Dividend Date

19 Aug 1996

Peer Comparison

Company	P/E	ROE
RELIANCE INDUSTRIES LTD	21.9x	8.3%
OIL AND NATURAL GAS CORP.	6.4x	11.7%
BHARAT PETROLEUM CORP LT	7.3x	17.1%
INDIAN OIL CORP LTD	5.3x	15.4%

Recent News

1 positive1 mixed4 general

Compare SAMYAK INTERNATIONAL with

Equitymaster, 11 Oct

Samyak International secures BSE approval for ₹6.8 crore preferential issue

scanx.trade, 05 Aug

PTC Industries consolidated net profit rises 465.70% in the June 2026 quarter

Business Standard, 15 AugResults

🟢Potentially positiveReported improvement. Check whether it came from volume, price or a one-off item before treating it as a trend.

Samyak International Q1 Results: Net profit rebounds to ₹64.4 crore

scanx.trade, 17 AugResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Compare SAMYAK INTERNATIONAL with

Equitymaster, 30 Sept

Samyak International AGM set for Sep 30 to approve capital hike

scanx.trade, 05 Sept

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

MiddlingFinancial Health · Valuation

WeakBusiness Quality · Growth · Profitability · Risk

Points for each in the Score ↑

Weak on the fundamentals

Poor scores on business quality without a price low enough to compensate. There is no obvious argument for owning this over a stronger company at a similar valuation. 2 high-severity red flags sit above this conclusion and should be read first.

2 of 5 tripwires tripped — Interest cover stays above 3x; ROCE stays above 8% · see Key things to watch ↑