Annual reportAug 2026
Aug 2026 · Shareholders meeting 22 Jul - 17th AGM on 14 Aug 2026; FY26 annual report submitted with e-voting details.
Source: Nse
Srivasavi Adhesive Tapes Ltd. (SRIVASAVI)
SME CapIndustrials stocks · SME cap · NSE
Srivasavi Adhesive Tapes Ltd. manufactures industrial speciality adhesive tapes, foams, films, fabrics, and die cuts under the 'Dollar' brand. It operates five units in Bangalore and Vadodara, serving 21+ states domestically and exporting to 27+ countries. The company focuses on high-entry barrier sectors and import substitution.
Data qualityFresh enough for analysisQuote updated 21 Oct, 01:12 pm ISTDetails
Quote21 Oct, 01:12 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result20 May, 10:55 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
68Bullishfull bull SMA stack · SMA20 +6.9% / mo · MACD + · near 52W high
Stock trend: 84
Sector RS: 46
Sector 3M: -7.6% vs Nifty 500 -6.0%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
SRIVASAVID candles · FIT view+50.8%TODAY · PROVISIONALLatest price ₹89.00 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-6.1%
RSI
61
MACD hist
0.79
52W pos
85%
2026-10-21O ₹94.75H ₹94.80L ₹89.00C ₹89.00Vol 22,000 shIntraday candle
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
SRIVASAVINifty India ManufacturingNifty 500
- SRIVASAVI
- +0.5%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- +6.1 pp
Chart stats
19 Oct 2026- From 52W high
- -12.0%
- 52W range position
- 80%
- ATR (14)
- 4.6%
- Volume vs 20D
- 1.12x
- Avg traded value
- ₹0.1 Cr
- 20D price channel
- ₹66.1 - ₹94
₹98
₹39 - ₹98
₹4
Latest completed session
20-session average
57.8% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · OVERVALUED13
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Bullish68
Price trend and sector-relative-strength timing.
Valuation
Legacy model-581.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence66
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 | ₹57 Cr | NDF | +7.5% |
| EBITDA | ₹5 Cr | NDF | +25.0% |
| Operating margin | 9.0% | NDF | +100 bps |
| PAT | ₹3 Cr | NDF | +0.0% |
| PAT margin | 5.3% | NDF | -40 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 19.70
- P/B
- 2.35
- EV/EBITDA
- 12.90
- Market Cap
- 110.00Cr
Profitability
- ROE
- 12.80%
- ROCE
- 14.80%
- ROA
- 7.06%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 22.22%
- EPS 5Y
- -14.29%
- Revenue 3Y
- -14.00%
- EPS 3Y
- -14.00%
Balance Sheet
- Debt/Equity
- 0.40
- Interest Coverage
- —
- Altman Z
- 4.12
- Book Value
- 33.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- —
- EPS TTM
- 4.24
Shareholding
- Promoter Hold
- 74.57%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 65%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 57.0+7.5% vs prev
Net Profit
₹ CrLatest: 3.0+0.0% 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 uptrend intact. RSI 61. Wait for confirmation.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~8.0% over last month) — short-term momentum positive.
- RSI(14) at 61 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 9% off 52W high · 128% 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
87
RS percentile
Stage 2 UptrendEstablished S2
1M return
+24.4%
3M return
-5.3%
6M return
+56.9%
1Y return
+40.4%
RS 1D
-1
RS 20D
+16
Sector rank
#2
Industry rank
#24
Stage evidence
- Price is 27.5% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +6.8%.
50-DMA
price above
200-DMA
price above
S2 entered
02 Jul 2026
S2 age
73 trading sessions
Sector
leading
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
247 observations
19 Oct 2026Value 150.6-1.14%
RS vs Nifty 500151
Valuation & peers
U-Score 13 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 13 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation3/30
Growth6/25
Quality3/20
Balance Sheet8/15
Cash Flow0/10
Piotroski
4/9 (+1)
Penalties
-8
Raw sum
13
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
13/100 · legacy band OVERVALUED
Positive drivers
- Balance sheet contributes 8/15 to the score.
- Growth contributes 6/25 to the score.
- Quality contributes 3/20 to the score.
Main drags
- Penalty bucket subtracts 8 points.
- Fair-value margin of safety is negative at -581.5%.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
19.7
PB
2.4
EV/EBITDA
12.9
ROE
12.8%
ROCE
14.8%
FCF Yield
—
Debt/Equity
0.4
MoS
-581.5%
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
13
Previous: 13
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-581.5%
Previous: -560.1%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
13
13
13
13
13
13
13
13
13
13
13
13
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
₹56.11
-58.6% MoS
Growth-justified P/E
3.1
Growth-justified Value
₹13.06
-581.5% MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Industrials — 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
RAJINDLTD
SME
Rajputana Industries Ltd.
Industrial Products
match 56
62
10.3
17.3%
+74%
UNDERVALUED
PSFL
SME
Paramount Speciality Forgings Ltd.
Industrial Products
match 55
47
14.8
7.8%
+63%
FAIR VALUE
CLASSICEIL
SME
Classic Electrodes (India) Ltd.
Industrial Products
match 54
81
7.1
17.9%
+82%
DEEP VALUE
AGUL
SME
A G Universal Ltd.
Industrial Products
match 54
14
—
-12.2%
-3568%
OVERVALUED
AUROIMPEX
SME
Auro Impex & Chemicals Ltd.
Industrial Products
match 53
49
11.7
8.4%
+71%
FAIR VALUE
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 under stressReviewed 2026-10-01T07:46:09.350Z
Management commentary snapshot
FY26 revenue grew 22% YoY to Rs 109.98 Cr, marking a new high, but PAT declined to Rs 6.01 Cr due to significant investments in capacity expansion, higher input costs, increased finance costs, and depreciation from newly commissioned assets.
The company delivered strong top-line growth in FY26, driven by strategic investments in new units and entry into high-barrier sectors like defense and EMS. However, profitability was impacted by these aggressive capacity additions and associated costs, leading to under-utilized capacity and margin pressure. The long-term vision of Rs 1,000 Cr revenue hinges on successful ramp-up and operating leverage.
Current business mix
Revenue by Product Type
Latest issuer-disclosed distribution across 2 reported categories.
Commodity Tapes22.5%
Speciality Tapes77.5%
Growth engines
Entry into High-Barrier Sectors
Secured first contract with defense PSUs and started working with Electronic Manufacturing Services (EMS).
Certifications and Approvals
Received Part one approval from Indian Railways for auto adhesive tapes, opening new institutional supply avenues.
Backward Integration
Polymer division (Unit 5) targeted to go live by FY27, enabling in-house pressure sensitive adhesive and sealants development.
Export Scale-up
Q3 exports grew 20% YoY; planned overseas presence to expand exports beyond current 15% of turnover.
Capacity and execution
Unit 5 (Polymer Division)
Under capital work in progress (CWIP of Rs 10.58 Cr), targeted to go live by FY27 with 6,000 tons/year capacity.
Unit 6
Taken on lease, power connections and machine installation underway, expected start of production in ~4 months with capex within Rs 5 Cr.
Unit 2 Upgradation
Planned for clean room facility upgrades to meet requirements of battery pack manufacturers for EV models.
Tailwinds
Government Focus on Domestic Manufacturing
Import substitution opportunity in India's speciality tape market, which is over 65% import dependent.
Sectoral Growth
Railways & infrastructure, lithium ion, renewable energy, and home appliances businesses are experiencing faster growth.
Favorable Trade Policies
Recent reduction in US tariffs should improve competitiveness in American and other industrial markets.
Headwinds
Input Cost Volatility
Most raw materials are crude derivative dependent, leading to cost of metal consumed rising to Rs 83.08 Cr in FY26.
Competition from Imports
Market is flooded with Chinese, Korean, and Japanese high-end products, requiring continuous innovation and backward integration.
Lag in Price Pass-through
Takes approximately 90 days to pass on raw material price increases to customers, leading to potential margin compression for 2-3 months.
Risk radar
Capacity Underutilization
Margin pressure in FY26 was due to the cost of capacity built but not fully utilized, impacting profitability.
Project Execution Delays
New units and certifications are multi-quarter journeys, and institutional orders move on their own clock, potentially delaying revenue ramp-up.
Working Capital Management
Working capital days can extend up to 100 days due to OEM customer payment terms, requiring careful management of liquidity.
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 YOY
The company reported full financial year (FY26) results, making year-over-year comparison most appropriate to assess growth and the impact of strategic investments over a longer period. Quarterly data is not provided for a detailed QoQ analysis.
Sector KPIs management disclosed
Revenue from Operations
Rs 109.98 crores in FY26, up 22% from Rs 90.16 crores in FY25.
Profit After Tax (PAT)
Rs 6.01 crores in FY26, down from Rs 6.80 crores in FY25.
Capital Work in Progress (CWIP)
Rs 10.58 crores at year-end, primarily for Unit 5 (polymer division).
Order Book / New Sales Plans
Annual new sales plans are around Rs 160-175 crores.
Management forward view
Long-term Revenue Target
Working towards an all-time goal of Rs 1,000 Cr revenue built on backward integration, capacity expansion, sector diversification, and export scale-up.
Focus on High-Barrier Path
Chosen the harder, higher barrier path for margins and moats, confident that built capabilities will translate into stronger, more profitable growth.
Operating Leverage Expectation
Expect operating leverage to work in future as Unit 4 scales and new capacity absorbs fixed overheads.
R&D and Innovation
Investing 0.5-1% of revenue in R&D, with a dedicated NPD team and plans for NABL accreditation for the lab.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Operating Margin | Impacted by investments in FY26 | Achievement of double-digit operating margin as targeted by management for the current year. |
| Capacity Utilization | Unit 1&2 >60-70%, Unit 3&4 ~50%, rest new | Ramp-up of Unit 4 towards full operation and increased utilization across all new units. |
| Polymer Division (Unit 5) Commissioning | Under CWIP, targeted to go live by FY27 | Timely commissioning and revenue generation from the 6,000 tons/year polymer division. |
| New Sector Revenue Contribution | Defense PSU contract, EMS work started, Lithium-ion sector giving | Quantifiable revenue contribution and margin expansion from defense, EMS, and EV battery segments. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
66Limited 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 49th percentile of the scored universe and 47th percentile within Industrials. 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
2 docs text-extracted · 1 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
49th percentile
overall median 67 · Industrials: 47th pctile, median 68 · SME: 60th pctile, median 64
Evidence depth
Financial-only
2 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
90
strong · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
63
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 74.6%.
- ▸Promoter pledge is zero.
- ▸Promoter holding increased 1.4%.
- ▸OPM spread across recent quarters is 5%.
Trust risks
- ▸Only 1 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Srivasavi Adhesive Tapes Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptJun 2026
Jun 2026 · Transcript
Source: Nse
Annual report
Annual Report 2026
Source: Nse
Annual report
Annual Report 2025
Source: Nse
Investor presentationDec 2024
Dec 2024 · PPT
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.