Announcement • Jun 19
Aica Kogyo Company, Limited (TSE:4206) completed the acquisition of 12.87732% stake in Stylam Industries Limited (BSE:526951) from Saru Gupta, Nidhi Gupta and Jagdish Gupta. Aica Kogyo Company, Limited (TSE:4206) agreed to acquire 12.87732% stake in Stylam Industries Limited (BSE:526951) from Saru Gupta, Nidhi Gupta and Jagdish Gupta for INR 4.9 billion on December 26, 2025. Simultaneously with the acquisition of the Tranche 1A Sale Shares on Tranche 1A Closing Date, the Acquirer will acquire 100 Equity Shares of the Target Company from Jagdish Gupta this phase will be known as the first closing of SPA 2. There are no statutory or governmental approvals required for the consummation of the Transaction.
In a related transaction Aica Kogyo Company, Limited (TSE:4206) agreed to acquire 27.12% stake in Stylam Industries Limited from Pushpa Gupta, Dipti Gupta and Manav Gupta. As of May 19, 2026, the Second Closing under SPA 2 is yet to be consummated and it will be consummated within the timeline provided in SPA2.
Akshay Chudasama, Aman Singh Sethi, Kriti Kaushik, Pooja Ramchandani, Atika Vaz, Shreya Jain, Mukul Baveja, Ashoo Gupta, Yogesh Chande, Kaustubh Verma and Jamshed Bhumgara of Shardul Amarchand Mangaldas & Co acted as legal advisor to Aica Kogyo Company, Limited. Whereas Vaishnavi Salimath, Trisha Shetty, Jayantika Khanna and Abhishek Dadoo of Khaitan & Co. acted as legal advisor to Stylam Industries Limited.
Aica Kogyo Company, Limited (TSE:4206) completed the acquisition of 12.87732% stake in Stylam Industries Limited (BSE:526951) from Saru Gupta, Nidhi Gupta and Jagdish Gupta on June 17, 2026. Price Target Changed • Jun 06
Price target increased by 9.5% to ₹2,912 Up from ₹2,660, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹3,054. Stock is up 80% over the past year. The company is forecast to post earnings per share of ₹107 for next year compared to ₹88.25 last year. Reported Earnings • May 09
Full year 2026 earnings released: EPS: ₹88.25 (vs ₹71.91 in FY 2025) Full year 2026 results: EPS: ₹88.25 (up from ₹71.91 in FY 2025). Revenue: ₹11.4b (up 11% from FY 2025). Net income: ₹1.50b (up 23% from FY 2025). Profit margin: 13% (up from 12% in FY 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹2,635, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 33x in the Building industry in India. Total returns to shareholders of 84% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,903 per share. Buy Or Sell Opportunity • May 06
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 5.7% to ₹2,323. The fair value is estimated to be ₹1,909, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 41% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Announcement • Apr 29
Stylam Industries Limited to Report Q4, 2026 Results on May 07, 2026 Stylam Industries Limited announced that they will report Q4, 2026 results on May 07, 2026 Buy Or Sell Opportunity • Mar 16
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at ₹2,215. The fair value is estimated to be ₹1,844, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 42% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Board Change • Mar 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Non-Executive Director Nobuyoshi Sakai was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 18
Aica Kogyo Company, Limited (TSE:4206) completed the acquisition of 27.12268% stake in Stylam Industries Limited (BSE:526951) from Pushpa Gupta, Dipti Gupta and Manav Gupta. Aica Kogyo Company, Limited (TSE:4206) agreed to acquire 27.12268% stake in Stylam Industries Limited (BSE:526951) from Pushpa Gupta, Dipti Gupta and Manav Gupta for INR 10.3 billion on December 26, 2025. In related transactions, will acquire 26% stake via open offer and 12.88% from Nidhi Gupta, Saru Gupta and Jagdish Gupta. A cash consideration valued at INR 2250 per share will be paid by Aica Kogyo Company, Limited. As of February 13, 2026, Aica Kogyo acquired the trance 1 of 16,94,906 of 10%.
Akshay Chudasama, Aman Singh Sethi, Kriti Kaushik, Pooja Ramchandani, Atika Vaz, Shreya Jain, Mukul Baveja, Ashoo Gupta, Yogesh Chande, Kaustubh Verma and Jamshed Bhumgara of Shardul Amarchand Mangaldas & Co acted as legal advisor to Aica Kogyo Company, Limited. Whereas Vaishnavi Salimath, Trisha Shetty, Jayantika Khanna and Abhishek Dadoo of Khaitan & Co. acted as legal advisor to Stylam Industries Limited.
Aica Kogyo Company, Limited (TSE:4206) completed the acquisition of 27.12268% stake in Stylam Industries Limited (BSE:526951) from Pushpa Gupta, Dipti Gupta and Manav Gupta on February 17, 2026. Price Target Changed • Jan 31
Price target increased by 8.6% to ₹2,509 Up from ₹2,311, the current price target is an average from 5 analysts. New target price is 13% above last closing price of ₹2,213. Stock is up 11% over the past year. The company is forecast to post earnings per share of ₹85.58 for next year compared to ₹71.91 last year. Reported Earnings • Jan 24
Third quarter 2026 earnings released: EPS: ₹27.16 (vs ₹17.55 in 3Q 2025) Third quarter 2026 results: EPS: ₹27.16 (up from ₹17.55 in 3Q 2025). Revenue: ₹2.71b (up 6.5% from 3Q 2025). Net income: ₹460.2m (up 54% from 3Q 2025). Profit margin: 17% (up from 12% in 3Q 2025). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 16
Stylam Industries Limited to Report Q3, 2026 Results on Jan 23, 2026 Stylam Industries Limited announced that they will report Q3, 2026 results on Jan 23, 2026 Price Target Changed • Dec 29
Price target increased by 9.0% to ₹2,311 Up from ₹2,121, the current price target is an average from 5 analysts. New target price is 6.3% above last closing price of ₹2,174. Stock is down 4.6% over the past year. The company is forecast to post earnings per share of ₹79.88 for next year compared to ₹71.91 last year. Reported Earnings • Nov 16
Second quarter 2026 earnings released: EPS: ₹22.17 (vs ₹19.66 in 2Q 2025) Second quarter 2026 results: EPS: ₹22.17 (up from ₹19.66 in 2Q 2025). Revenue: ₹2.93b (up 12% from 2Q 2025). Net income: ₹373.4m (up 9.5% from 2Q 2025). Profit margin: 13% (in line with 2Q 2025). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 05
Stylam Industries Limited to Report Q2, 2026 Results on Nov 14, 2025 Stylam Industries Limited announced that they will report Q2, 2026 results at 9:15 AM, Indian Standard Time on Nov 14, 2025 Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,929, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 35x in the Building industry in India. Total returns to shareholders of 77% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹866 per share. Board Change • Sep 11
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Non-Independent Director Tirloki Singla was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 29
Stylam Industries Limited, Annual General Meeting, Sep 30, 2025 Stylam Industries Limited, Annual General Meeting, Sep 30, 2025, at 11:00 Indian Standard Time. Reported Earnings • Aug 03
First quarter 2026 earnings released: EPS: ₹16.57 (vs ₹16.73 in 1Q 2025) First quarter 2026 results: EPS: ₹16.57 (down from ₹16.73 in 1Q 2025). Revenue: ₹2.83b (up 17% from 1Q 2025). Net income: ₹282.7m (flat on 1Q 2025). Profit margin: 10.0% (down from 12% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 17% per year. Announcement • Jul 25
Stylam Industries Limited to Report Q1, 2026 Results on Aug 02, 2025 Stylam Industries Limited announced that they will report Q1, 2026 results at 9:15 AM, Indian Standard Time on Aug 02, 2025 Price Target Changed • Jun 13
Price target decreased by 9.5% to ₹2,092 Down from ₹2,311, the current price target is an average from 5 analysts. New target price is 22% above last closing price of ₹1,721. Stock is up 3.6% over the past year. The company is forecast to post earnings per share of ₹81.15 for next year compared to ₹71.46 last year. Price Target Changed • May 29
Price target decreased by 8.6% to ₹2,335 Down from ₹2,554, the current price target is an average from 6 analysts. New target price is 43% above last closing price of ₹1,636. Stock is up 5.3% over the past year. The company is forecast to post earnings per share of ₹79.20 for next year compared to ₹71.46 last year. Reported Earnings • May 28
Full year 2025 earnings released: EPS: ₹71.46 (vs ₹75.79 in FY 2024) Full year 2025 results: EPS: ₹71.46 (down from ₹75.79 in FY 2024). Revenue: ₹10.3b (up 13% from FY 2024). Net income: ₹1.22b (down 5.1% from FY 2024). Profit margin: 12% (down from 14% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 24% per year. Announcement • May 19
Stylam Industries Limited to Report Q4, 2025 Results on May 26, 2025 Stylam Industries Limited announced that they will report Q4, 2025 results on May 26, 2025 Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹1,615, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 32x in the Building industry in India. Total returns to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,006 per share. Price Target Changed • Feb 13
Price target decreased by 9.5% to ₹2,699 Down from ₹2,984, the current price target is an average from 6 analysts. New target price is 50% above last closing price of ₹1,795. Stock is up 12% over the past year. The company is forecast to post earnings per share of ₹76.06 for next year compared to ₹75.78 last year. Reported Earnings • Feb 09
Third quarter 2025 earnings released: EPS: ₹17.55 (vs ₹18.49 in 3Q 2024) Third quarter 2025 results: EPS: ₹17.55 (down from ₹18.49 in 3Q 2024). Revenue: ₹2.55b (up 19% from 3Q 2024). Net income: ₹298.2m (down 4.8% from 3Q 2024). Profit margin: 12% (down from 15% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 28% per year. Announcement • Jan 31
Stylam Industries Limited to Report Q3, 2025 Results on Feb 08, 2025 Stylam Industries Limited announced that they will report Q3, 2025 results at 12:15 PM, Indian Standard Time on Feb 08, 2025 Announcement • Jan 21
Stylam Industries Limited Announces Appointment of Dhiraj Kheriwal as Company Secretary and Compliance Officer Stylam Industries Limited Board of Directors at its meeting held on January 21, 2025, approved the appointment of Mr. Dhiraj Kheriwal a qualified Company Secretary (Mem. No. A51328) as Company Secretary & Compliance Officer designated as Key Managerial Personnel of the Company effective from January 21, 2025. Mr. Dhiraj Kheriwal is an Associate Member of Institute of Company Secretaries of India (ICSI) and he has over 07 years of experience in dealing with Listing & Secretarial Compliances of Listed and Unlisted Companies. New Risk • Nov 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹2,212, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 30x in the Building industry in India. Total returns to shareholders of 124% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹996 per share. Announcement • Oct 21
Stylam Industries Limited Announces Resignation of Sanjeev Kumar Sehgal as Company Secretary, Effective 21 October, 2024 Stylam Industries Limited informed that Mr. Sanjeev Kumar Sehgal has tendered his resignation vide his resignation letter dated October 21, 2024 from the post of Company Secretary and Compliance Officer of the Company to pursue carrier opportunity outside the company with effect from closing of business hours of 21 October, 2024. Further, Mr. Jagdish Gupta, Managing Director & Chairman of the company shall act as Compliance officer for all listing regulations compliance until appointment of new Company Secretary cum Compliance officer. Price Target Changed • Oct 16
Price target increased by 14% to ₹2,719 Up from ₹2,388, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹2,626. Stock is up 52% over the past year. The company is forecast to post earnings per share of ₹67.40 for next year compared to ₹75.78 last year. Reported Earnings • Oct 16
Second quarter 2025 earnings released: EPS: ₹19.66 (vs ₹18.73 in 2Q 2024) Second quarter 2025 results: EPS: ₹19.66 (up from ₹18.73 in 2Q 2024). Revenue: ₹2.63b (up 12% from 2Q 2024). Net income: ₹341.1m (up 7.4% from 2Q 2024). Profit margin: 13% (in line with 2Q 2024). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 09
Stylam Industries Limited to Report Q2, 2025 Results on Oct 15, 2024 Stylam Industries Limited announced that they will report Q2, 2025 results at 12:15 PM, Indian Standard Time on Oct 15, 2024 Board Change • Sep 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Non-Executive Independent Director Rajesh Gill was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 06
Stylam Industries Limited, Annual General Meeting, Sep 30, 2024 Stylam Industries Limited, Annual General Meeting, Sep 30, 2024. Price Target Changed • Aug 02
Price target increased by 7.7% to ₹2,340 Up from ₹2,173, the current price target is an average from 6 analysts. New target price is 23% above last closing price of ₹1,908. Stock is up 13% over the past year. The company is forecast to post earnings per share of ₹69.50 for next year compared to ₹75.77 last year. Reported Earnings • Aug 01
First quarter 2025 earnings released: EPS: ₹16.73 (vs ₹16.39 in 1Q 2024) First quarter 2025 results: EPS: ₹16.73 (up from ₹16.39 in 1Q 2024). Revenue: ₹2.45b (up 8.7% from 1Q 2024). Net income: ₹283.6m (up 2.1% from 1Q 2024). Profit margin: 12% (in line with 1Q 2024). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Jul 31
Stylam Industries Limited Announces Board Changes The board of directors of Stylam Industries Limited at its meeting held on July 31, 2024, considered retirement of Mr. Satpal Garg from the position of independent Director and chairman of the Company on the completion of his second term of office effecting from the closing of the business hours on July 31, 2204 and ceased to be the independent Director of the company thereafter, he shall also cease to be a Member of the Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, Corporate Social Responsibility Committee, and Risk Management Committee of the Company. and also announced the resignation of Ms. Renu Sood, she has tendered her resignation as the independent Director of the Company, with effect from close of business hours on July 31,2024, citing pre-occupation and other personal commitments. Consequently, She shall also cease to be a Member of the Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee of the Company. Committee memberships of Satpal garg are Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, Corporate Social Responsibility Committee, and Risk Management Committee of the Company. Committee memberships of Renu Sood are Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee of the
Company. Announcement • Jul 23
Stylam Industries Limited to Report Q1, 2025 Results on Jul 31, 2024 Stylam Industries Limited announced that they will report Q1, 2025 results on Jul 31, 2024 Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹1,976, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 40x in the Building industry in India. Total returns to shareholders of 26% over the past year. Price Target Changed • Jun 05
Price target increased by 7.9% to ₹2,346 Up from ₹2,173, the current price target is an average from 4 analysts. New target price is 53% above last closing price of ₹1,531. Stock is down 12% over the past year. The company is forecast to post earnings per share of ₹75.20 for next year compared to ₹75.77 last year. Reported Earnings • May 28
Full year 2024 earnings released: EPS: ₹75.77 (vs ₹56.63 in FY 2023) Full year 2024 results: EPS: ₹75.77 (up from ₹56.63 in FY 2023). Revenue: ₹9.20b (down 3.4% from FY 2023). Net income: ₹1.28b (up 34% from FY 2023). Profit margin: 14% (up from 10% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Building industry in India. Announcement • May 19
Stylam Industries Limited to Report Q4, 2024 Results on May 27, 2024 Stylam Industries Limited announced that they will report Q4, 2024 results on May 27, 2024 Price Target Changed • Apr 20
Price target increased by 7.4% to ₹2,111 Up from ₹1,965, the current price target is an average from 4 analysts. New target price is 28% above last closing price of ₹1,651. Stock is up 49% over the past year. The company is forecast to post earnings per share of ₹74.18 for next year compared to ₹56.63 last year. Price Target Changed • Feb 05
Price target increased by 10% to ₹2,005 Up from ₹1,818, the current price target is an average from 3 analysts. New target price is 27% above last closing price of ₹1,584. Stock is up 44% over the past year. The company is forecast to post earnings per share of ₹73.67 for next year compared to ₹56.63 last year. Reported Earnings • Jan 30
Third quarter 2024 earnings released: EPS: ₹18.49 (vs ₹14.18 in 3Q 2023) Third quarter 2024 results: EPS: ₹18.49 (up from ₹14.18 in 3Q 2023). Revenue: ₹2.17b (down 7.5% from 3Q 2023). Net income: ₹313.3m (up 30% from 3Q 2023). Profit margin: 14% (up from 10% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Announcement • Jan 18
Stylam Industries Limited to Report Q3, 2024 Results on Jan 29, 2024 Stylam Industries Limited announced that they will report Q3, 2024 results on Jan 29, 2024 Announcement • Nov 08
Stylam Industries Limited Declares Interim Dividend for the Financial Year 2023-2024, Payable on or Before December 05, 2023 Stylam Industries Limited at its board meeting held on November 6, 2023, declared an interim dividend of INR 2.50 per equity share for the financial year 2023-2024 and the said interim dividend will be paid on or before December 05, 2023. The Board of Directors had fixed November 17,2023 as the Record Date for the purpose of payment of Interim Dividend for the Financial Year 2023-2024. Reported Earnings • Nov 07
Second quarter 2024 earnings released: EPS: ₹18.73 (vs ₹14.26 in 2Q 2023) Second quarter 2024 results: EPS: ₹18.73 (up from ₹14.26 in 2Q 2023). Revenue: ₹2.36b (down 4.3% from 2Q 2023). Net income: ₹317.5m (up 31% from 2Q 2023). Profit margin: 14% (up from 9.8% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Building industry in India. Announcement • Oct 29
Stylam Industries Limited to Report Q2, 2024 Results on Nov 06, 2023 Stylam Industries Limited announced that they will report Q2, 2024 results on Nov 06, 2023 Announcement • Sep 07
Stylam Industries Limited, Annual General Meeting, Sep 30, 2023 Stylam Industries Limited, Annual General Meeting, Sep 30, 2023, at 10:00 Indian Standard Time. Location: Sip `n' Dine, SCO -16A, Madhya Marg, Sector 7-C, Chandigarh India Agenda: To receive, consider, and adopt the Audited Statement of Profit & Loss for the financial year ended on 31 March, 2023 and Balance Sheet as at that date together with Reports of the Auditors and Directors thereon; to Re appointment of Mr. Manit Gupta who retires by rotation and being eligible, & offers himself for re-appointment; to Re appointment of Mr. Sachin Bhatla who retires by rotation and being eligible, & offers himself for re-appointment; to Appoint Ms. Purva Kansal as a Non-Executive Independent Director of the Company for a period of 5 years; and to discuss other matters. Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: ₹16.39 (vs ₹12.38 in 1Q 2023) First quarter 2024 results: EPS: ₹16.39 (up from ₹12.38 in 1Q 2023). Revenue: ₹2.26b (down 4.0% from 1Q 2023). Net income: ₹277.8m (up 32% from 1Q 2023). Profit margin: 12% (up from 8.9% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Building industry in India. Announcement • Jul 29
Stylam Industries Limited to Report Q1, 2024 Results on Aug 07, 2023 Stylam Industries Limited announced that they will report Q1, 2024 results on Aug 07, 2023 Price Target Changed • Jun 12
Price target increased by 9.5% to ₹1,684 Up from ₹1,538, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹1,758. Stock is up 100% over the past year. The company is forecast to post earnings per share of ₹74.05 for next year compared to ₹56.63 last year. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹1,504, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 29x in the Building industry in India. Total returns to shareholders of 76% over the past year. Reported Earnings • May 08
Full year 2023 earnings released: EPS: ₹56.63 (vs ₹35.93 in FY 2022) Full year 2023 results: EPS: ₹56.63 (up from ₹35.93 in FY 2022). Revenue: ₹9.54b (up 45% from FY 2022). Net income: ₹959.8m (up 58% from FY 2022). Profit margin: 10% (in line with FY 2022). Reported Earnings • Jan 19
Third quarter 2023 earnings released: EPS: ₹14.18 (vs ₹9.24 in 3Q 2022) Third quarter 2023 results: EPS: ₹14.18 (up from ₹9.24 in 3Q 2022). Revenue: ₹2.34b (up 39% from 3Q 2022). Net income: ₹240.3m (up 54% from 3Q 2022). Profit margin: 10% (up from 9.2% in 3Q 2022). The increase in margin was driven by higher revenue. Announcement • Jan 09
Stylam Industries Limited to Report Q3, 2023 Results on Jan 18, 2023 Stylam Industries Limited announced that they will report Q3, 2023 results on Jan 18, 2023 Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Non-Executive Independent Director Vinod Kumar was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 23
Second quarter 2023 earnings released: EPS: ₹14.26 (vs ₹8.85 in 2Q 2022) Second quarter 2023 results: EPS: ₹14.26 (up from ₹8.85 in 2Q 2022). Revenue: ₹2.46b (up 43% from 2Q 2022). Net income: ₹241.7m (up 62% from 2Q 2022). Profit margin: 9.8% (up from 8.7% in 2Q 2022). The increase in margin was driven by higher revenue. Board Change • Aug 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Non-Executive Independent Director Vinod Kumar was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
