New Risk • Apr 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 10% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 65% per year over the past 5 years. Market cap is less than US$10m (₹352.0m market cap, or US$3.77m). New Risk • Jan 02
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 6.9% 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Earnings have declined by 65% per year over the past 5 years. Market cap is less than US$10m (₹572.7m market cap, or US$6.35m). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change). Duyuru • Nov 13
Swastik Pipe Limited to Report First Half, 2026 Results on Nov 14, 2025 Swastik Pipe Limited announced that they will report first half, 2026 results on Nov 14, 2025 Buy Or Sell Opportunity • Oct 29
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 2.3% to ₹31.70. The fair value is estimated to be ₹26.05, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Oct 15
Now 21% overvalued Over the last 90 days, the stock has fallen 8.4% to ₹30.45. The fair value is estimated to be ₹25.18, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Meanwhile, the company became loss making. New Risk • Sep 25
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Earnings have declined by 4.4% per year over the past 5 years. Market cap is less than US$10m (₹735.3m market cap, or US$8.30m). Buy Or Sell Opportunity • Sep 18
Now 23% overvalued Over the last 90 days, the stock has fallen 3.5% to ₹32.85. The fair value is estimated to be ₹26.72, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Meanwhile, the company became loss making. Duyuru • Sep 05
Swastik Pipe Limited, Annual General Meeting, Sep 29, 2025 Swastik Pipe Limited, Annual General Meeting, Sep 29, 2025, at 11:00 Indian Standard Time. Buy Or Sell Opportunity • Aug 20
Now 23% overvalued Over the last 90 days, the stock has fallen 16% to ₹33.50. The fair value is estimated to be ₹27.25, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jul 21
Now 21% overvalued Over the last 90 days, the stock has fallen 27% to ₹32.95. The fair value is estimated to be ₹27.28, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jul 04
Now 20% overvalued Over the last 90 days, the stock has fallen 20% to ₹33.40. The fair value is estimated to be ₹27.72, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Meanwhile, the company became loss making. New Risk • Jun 27
New major risk - Revenue and earnings growth Earnings have declined by 4.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 4.4% per year over the past 5 years. Market cap is less than US$10m (₹795.7m market cap, or US$9.30m). New Risk • Jun 12
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹821.2m (US$9.60m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Market cap is less than US$10m (₹821.2m market cap, or US$9.60m). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Profit margins are more than 30% lower than last year (0.5% net profit margin). New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Profit margins are more than 30% lower than last year (0.5% net profit margin). Market cap is less than US$100m (₹858.4m market cap, or US$10.0m). New Risk • Mar 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.4% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Share price has been highly volatile over the past 3 months (9.4% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (0.5% net profit margin). Market cap is less than US$100m (₹1.07b market cap, or US$12.3m). New Risk • Jan 09
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 7.5% 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. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Profit margins are more than 30% lower than last year (0.5% net profit margin). Market cap is less than US$100m (₹1.51b market cap, or US$17.5m). Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹64.80, the stock trades at a trailing P/E ratio of 45.4x. Average trailing P/E is 25x in the Metals and Mining industry in India. Total loss to shareholders of 32% over the past year. Duyuru • Sep 16
Swastik Pipe Limited, Annual General Meeting, Sep 28, 2024 Swastik Pipe Limited, Annual General Meeting, Sep 28, 2024, at 10:30 Indian Standard Time. Duyuru • Sep 06
Swastik Pipe Limited Announces Appointment of Tarun as Company Secretary Swastik Pipe Limited informed that Mr. Tarun has joined the Company as Company Secretary and Compliance Officer with effect from 5 September 2024. Mr. Tarun is an Associate Member of The Institute of Company Secretaries of India. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹72.50, the stock trades at a trailing P/E ratio of 32.8x. Average trailing P/E is 26x in the Metals and Mining industry in India. Total loss to shareholders of 24% over the past year. Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹2.21 (vs ₹4.53 in FY 2023) Full year 2024 results: EPS: ₹2.21 (down from ₹4.53 in FY 2023). Revenue: ₹7.30b (up 2.6% from FY 2023). Net income: ₹51.3m (down 43% from FY 2023). Profit margin: 0.7% (down from 1.3% in FY 2023). The decrease in margin was driven by higher expenses. New Risk • Jun 03
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 7.9% 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. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Share price has been volatile over the past 3 months (7.9% average weekly change). Profit margins are more than 30% lower than last year (1.7% net profit margin). Market cap is less than US$100m (₹1.82b market cap, or US$21.8m). Reported Earnings • Nov 19
First half 2024 earnings released: EPS: ₹1.77 (vs ₹0.26 in 1H 2023) First half 2024 results: EPS: ₹1.77 (up from ₹0.26 in 1H 2023). Revenue: ₹3.62b (up 16% from 1H 2023). Net income: ₹41.0m (up ₹36.6m from 1H 2023). Profit margin: 1.1% (up from 0.1% in 1H 2023). The increase in margin was driven by higher revenue. Board Change • Oct 26
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 Sony Kumari was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹119, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 20x in the Metals and Mining industry in India. Total returns to shareholders of 49% over the past year. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹101, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 19x in the Metals and Mining industry in India. Duyuru • Sep 08
Swastik Pipe Limited, Annual General Meeting, Sep 28, 2023 Swastik Pipe Limited, Annual General Meeting, Sep 28, 2023, at 10:00 Indian Standard Time. Location: Office at 2, Arihant Nagar, Punjabi Bagh (W) New Dehli India Agenda: To receive, consider and adopt the Financial Statements of the Company for the year ended 31st March, 2023, including Audited Balance Sheet as at 31st March, 2023; to appoint a director in place of Sh. Dinesh Kumar Dhanda Whole Time Director of the Company who retires from office by rotation and being eligible offers herself for re-appointment and for the said purpose to consider and if thought fit, to pass the following resolution with or without modification(s) as an Ordinary Resolution; to consider Appointment of Statutory Auditor; to consider Regularization of Additional Director, Mr. Sandeep Khuda; to consider Regularization Mr. Sandeep Khuda as a Whole- Time Director; to approve the re-appointment and renumeration payable to Sh. Sandeep Bansal; to ratify / confirm the Remuneration to the Cost Auditor for the Financial Year ending March 31, 2023. New Risk • Jul 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (₹2.45b market cap, or US$29.7m). Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹88.00, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 15x in the Metals and Mining industry in India. Reported Earnings • May 31
Full year 2023 earnings released: EPS: ₹4.53 (vs ₹14.19 in FY 2022) Full year 2023 results: EPS: ₹4.53 (down from ₹14.19 in FY 2022). Revenue: ₹7.17b (up 18% from FY 2022). Net income: ₹90.6m (down 56% from FY 2022). Profit margin: 1.3% (down from 3.4% in FY 2022). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 25% share price gain to ₹102, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 14x in the Metals and Mining industry in India. Reported Earnings • Nov 19
First half 2023 earnings released First half 2023 results: EPS: ₹0.26. Net income: ₹4.45m (up ₹4.45m from 1H 2022). Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improved over the past week After last week's 23% share price gain to ₹92.35, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 13x in the Metals and Mining industry in India. Duyuru • Oct 13
Swastik Pipe Limited has completed an IPO in the amount of INR 625.2 million. Swastik Pipe Limited has completed an IPO in the amount of INR 625.2 million.
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 314,400
Price\Range: INR 100
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 5,937,600
Price\Range: INR 100
Transaction Features: Regulation S 
