Annual reportAug 2026
Aug 2026 · General Updates 3 Aug - 14th AGM on August 28, 2026; annual report 2025-2026 shared with non-registered email shareholders.
Source: Nse
Sat Kartar Shopping Ltd. (SATKARTAR)
SME CapPharma stocks · SME cap · NSE
Sat Kartar Life Limited, formerly Sat Kartar Shopping, is an Indian healthcare company transitioning from a product-centric model to a comprehensive Ayurveda ecosystem. It operates in D2C product sales, nutraceuticals, and is expanding into Ayurveda hospitals, wellness, and therapy services.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result06 May, 04:19 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 33.5 (n=187)
Technical timing lens
Trend score and candlestick chart
67BullishSMA20 +21.1% / mo · MACD − · sector +4.9pp vs Nifty 500 (3M)
Stock trend: 44
Sector RS: 100
Sector 3M: -0.7% vs Nifty 500 -5.6%
Pharma FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
SATKARTARD candles · FIT view-35.2%Latest close ₹131.15 on 2026-10-21
Bar
+2.1%
RSI
40
MACD hist
-4.99
52W pos
19%
2026-10-21O ₹128.40H ₹131.50L ₹126.75C ₹131.15Vol 24,800 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
SATKARTARNifty PharmaNifty 500
- SATKARTAR
- -5.3%
- Nifty 500
- -6.5%
- Nifty Pharma
- -2.0%
- Vs Nifty 500
- +1.2 pp
Chart stats
21 Oct 2026- From 52W high
- -40.3%
- 52W range position
- 19%
- ATR (14)
- 9.5%
- Volume vs 20D
- 0.26x
- Avg traded value
- ₹1.4 Cr
- 20D price channel
- ₹126.2 - ₹210
₹219.8
₹110.3 - ₹219.8
₹12.4
Latest completed session
20-session average
82.2% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend supports entry, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED72
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Bullish67
Price trend and sector-relative-strength timing.
Valuation
Legacy model+73.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence73
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹111 Cr | NDF | +23.3% |
| EBITDA | ₹15 Cr | NDF | +50.0% |
| Operating margin | 13.0% | NDF | +200 bps |
| PAT | ₹10 Cr | NDF | +42.9% |
| PAT margin | 9.0% | NDF | +123 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 18.10
- P/B
- 4.22
- EV/EBITDA
- 10.29
- Market Cap
- 286.00Cr
Profitability
- ROE
- 26.50%
- ROCE
- 35.60%
- ROA
- 20.00%
- Dividend Y
- 0.39%
Growth (CAGR)
- Revenue 5Y
- 23.31%
- EPS 5Y
- 70.00%
- Revenue 3Y
- 23.31%
- EPS 3Y
- 70.00%
Balance Sheet
- Debt/Equity
- 0.03
- Interest Coverage
- 25.00×
- Altman Z
- 10.48
- Book Value
- 42.90
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- —
- EPS TTM
- 10.86
Shareholding
- Promoter Hold
- 63.62%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 65%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 111+23.3% vs prev
Net Profit
₹ CrLatest: 10.0+42.9% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 40. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 rising (~17.4% over last month) — short-term momentum positive.
- RSI(14) at 40 — sideways, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 40% off 52W high · 19% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
23
RS percentile
Stage 4 Downtrend
1M return
-15.3%
3M return
-5.3%
6M return
-36.0%
1Y return
-28.7%
RS 1D
+3
RS 20D
-32
Sector rank
#1
Industry rank
#9
Stage evidence
- Price is 15.9% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -0.6%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
261 observations
21 Oct 2026Value 91.59+0.39%
RS vs Nifty 50092
Valuation & peers
U-Score 72 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 72 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · UNDERVALUEDValuation20/30
Growth23/25
Quality18/20
Balance Sheet11/15
Cash Flow0/10
Piotroski
6/9 (+3)
Penalties
-3
Raw sum
72
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
72/100 · legacy band UNDERVALUED
Positive drivers
- Fair-value margin of safety is positive at 73.2%.
- Growth contributes 23/25 to the score.
- Quality contributes 18/20 to the score.
Main drags
- Penalty bucket subtracts 3 points.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Valuation is weaker at 20/30; verify the latest quarterly trend.
Sector valuation model
Healthcare valuation: PE/EVEBITDA with regulatory and pipeline checks
Healthcare valuation needs both earnings quality and regulatory/pipeline context.
Primary lens
PE and EV/EBITDA adjusted for product mix and R&D/pipeline quality.
Secondary checks
USFDA risk, launch pipeline, margin trend, domestic vs export mix.
Main risk check
Regulatory setbacks or one-off product cycles can distort valuation.
PE
18.1
PB
4.2
EV/EBITDA
10.3
ROE
26.5%
ROCE
35.6%
FCF Yield
—
Debt/Equity
0.0
MoS
+73.2%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
72
Previous: 72
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+73.2%
Previous: +73.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
72
72
72
72
72
72
72
72
72
72
72
72
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹102.38
-28.1% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹488.7
+73.2% MoS
PEG
0.26
Comparable companies
Peers
Business-comparable peers in Pharma — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
GLOTTIS
Small
Glottis Limited
Pharmaceuticals
match 150
29
13.9
13.4%
-80%
OVERVALUED
ACCPL
SME
Accretion Pharmaceuticals Ltd.
Pharmaceuticals
match 136
58
22.2
27.6%
+51%
FAIR VALUE
QUESTLAB
SME
Quest Laboratories Ltd.
Pharmaceuticals
match 136
70
11.3
16.6%
+78%
UNDERVALUED
NEOCHEM
SME
Neochem Bio Solutions Ltd.
Pharmaceuticals
match 135
56
23.8
48.4%
+64%
FAIR VALUE
CURIS
SME
Curis Lifesciences Ltd.
Pharmaceuticals
match 132
33
30.0
—
+57%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-08-23T07:18:21.285Z
Management commentary snapshot
FY26 revenue grew 23% to cross INR 200 Cr, with EBITDA up 73% and PAT up 74%, driven by product sales and initial hospital operations. H2 showed stabilization post H1 transition.
The company delivered strong FY26 growth, exceeding its initial revenue target. The strategic shift to a dual-engine model (products + hospitals) is underway, with initial hospital operations and key collaborations. Management's ambitious FY27/FY28 targets rely on new initiatives and operational efficiencies.
Growth engines
Ayurveda Hospital Expansion
First 30 bedded hospital operational in Delhi. Envisaging 300 beds by end of FY27 and 1000 beds by FY28.
US Operations Rollout
US operations. Product range has been set, and various accounts into the marketplace are underway to roll out the sales in US. Expects 10-15 Cr revenue in FY27.
Subsidiary Performance (Plantomed & Ajooni Life Sciences)
100% Plantomed acquisition complete, firing well. Ajooni Life Sciences (nutraceuticals) also firing well. Expects 22 Cr revenue from subsidiary in FY27.
AI-driven Efficiency
AI has already started delivering results, improving efficiency. Current trials show 4-5% better ROI, expected to improve with scale.
Capacity and execution
Ayurveda Hospital Beds
First 30 bedded hospital already operational and running in Delhi. Envisaging 300 beds by end of FY27 and 1000 beds by FY28.
Manufacturing Facility
Factory under the umbrella of Sat Kartar is in place, working, delivering capsules and powder units. Capex used was around 1-1.25 Cr.
Tailwinds
Growing Ayurveda Market
Ayurveda has unlimited growth, similar to the IT boom in 2000. Total Ayurveda beds are very low compared to allopathy.
Government Support for Ayurveda
Present government and honorable Prime Minister is taking Ayurveda to the world.
Jeena Sikho Collaboration
Collaboration with Jeena Sikho (2800 beds in North India) for revenue share from referrals and clinical know-how for South India hospitals.
Headwinds
Hospital Break-even Period
Not break-even in the second month of hospital operations due to pending government empanelment and insurances.
Working Capital Management
Cash inflow is less due to working capital buildup in H1 FY26 (factory, Plantomed, inventory). Inventory days marginally increased by 12-15 days.
RBI Approval for US Subsidiary
RBI approval is not there for the US subsidiary yet, though documentation is done and operations can start.
Risk radar
High Advertisement Spend
40% of revenue goes into advertisement, which is not expected to reduce significantly if it remains only a product company.
Hospital Occupancy Ramp-up
Current 30-bed hospital utilization is not much, below 10%, pending certifications and insurance tie-ups.
Working Capital for Hospitals
Working capital for hospitals depends on customer mix (insurance/government vs. upfront cash) and can lead to high receivable days (45-60+ days).
Capital for 1000 Beds
1000 beds would require 40 Cr capex (at 4L/bed). Plan is to fund from existing capital, cash generation, and debt, not further dilution.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Management explicitly compares H1 with H2 to show stabilization post-IPO and acquisition-led transition, while also providing full-year (YoY) growth figures for FY26 and future targets.
Sector KPIs management disclosed
FY26 Revenue Growth
Revenue growing 23% crossing the 200 mark.
FY26 EBITDA Growth
EBITDA by 73%.
FY26 PAT Growth
PAT by 74%.
PAT Margin (FY26)
PAT margin growth from 6 to 8.5%.
Management forward view
FY27 Revenue Target
Vision for next year is crossing 300 Cr revenue, with current run rate at 225 Cr.
FY28 Revenue Target
Vision for following year is crossing 500 Cr revenue.
Hospital Expansion Strategy
Will open 50-100 bed facilities, four simultaneously, taking 6-8 months to set up. Revenue from these will flow in the following year (post FY27).
Asset-light Manufacturing
No plan to produce all products in-house or have another facility; might upgrade existing one.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Hospital Occupancy Rate | Below 10% for 30-bed Delhi hospital. | Ramp-up to 60-70% occupancy, especially after government empanelment and insurance tie-ups by end of May. |
| Hospital Break-even | Revenue at Rs. 50,000/day for 30-bed hospital (break-even at 1L/day). | Achieving break-even by end of May/June for the Delhi hospital. |
| New Hospital Locations | Identified Tamil Nadu and Vishakhapatnam, but not finalized districts. | Finalization of 4 new 50-100 bed hospital locations by June. |
| Subsidiary Revenue Contribution | 1.2 Cr from subsidiaries in FY26. | Achieving FY27 target of 25-30 Cr from subsidiaries (Plantomed, Ajooni Life Sciences, US Co.). |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
73Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 72nd percentile of the scored universe and 63rd percentile within Pharma. Main check: cash conversion is weak at 43/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
6 docs text-extracted · 4 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
72nd percentile
overall median 67 · Pharma: 63rd pctile, median 70 · SME: 90th pctile, median 64
Evidence depth
Financial-only
6 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
90
strong · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 63.6%.
- ▸Promoter pledge is zero.
- ▸Debt/equity is 0.03.
- ▸ROCE is 35.6%.
Trust risks
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Sat Kartar Shopping Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Investor presentationNov 2025
Nov 2025 · PPT
Source: Nse
Concall transcriptNov 2025
Nov 2025 · Transcript
Source: Nse
Concall transcriptNov 2025
Nov 2025 · Transcript
Source: Nse
Investor presentationOct 2025
Oct 2025 · PPT
Source: Nse
Investor presentationMay 2025
May 2025 · PPT
Source: Nse
Concall transcriptMay 2025
May 2025 · Transcript
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.