---
title: "Shanthala FMCG Products Ltd (SHANTHALA) — Share Price, Financials & Analysis"
symbol: "SHANTHALA"
company: "Shanthala FMCG Products Ltd"
canonical: "https://tapetide.com/stocks/SHANTHALA"
isin: "INE0Q9Q01017"
nse_symbol: "SHANTHALA"
sector: "Fast Moving Consumer Goods"
industry: "Cigarettes & Tobacco Products"
market_cap_cr: 11.15
generated_at: "2026-09-13T19:17:21.544Z"
---

# Shanthala FMCG Products Ltd (SHANTHALA)

Canonical page: https://tapetide.com/stocks/SHANTHALA

## Company

- **NSE Symbol:** SHANTHALA
- **ISIN:** INE0Q9Q01017
- **Sector:** Fast Moving Consumer Goods
- **Industry:** Cigarettes & Tobacco Products
- **Macro Sector:** Fast Moving Consumer Goods
- **Stock Type:** EQUITY
- **Listed Since:** 2023-11-03
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** Shanthalafmcg.com

## About

Incorporated in 2014, Shanthala FMCG Products Ltd is in business of FMCG product distribution[1]

## Latest Price

- **Price:** ₹16.65
- **Change:** 0 (0%)
- **Open:** ₹16.65
- **Day High:** ₹16.65
- **Day Low:** ₹16.65
- **Previous Close:** ₹16.65
- **Volume:** 0
- **As Of:** 2026-09-11T10:01:44+00:00

## Key Fundamentals

Observed at 2026-09-11T04:34:20.885628Z.

- **Market Cap:** ₹11.15 Cr
- **Classification:** SME
- **P/E (reported):** 11.6
- **Book Value:** ₹33.93
- **Price to Book:** 0.49
- **Dividend Yield:** 0%
- **ROE:** 4.25%
- **ROCE:** 5.85%
- **Debt to Equity:** 0
- **Revenue (yearly):** ₹53.8 Cr
- **Net Income:** ₹1 Cr
- **EBITDA:** ₹1.4 Cr
- **52-Week High:** ₹42.45
- **52-Week Low:** ₹14.1
- **RSI (14):** 42.55

## Tapetide Score

- **Score:** 54 / 100
- **Score date:** 2026-09-04
- **Archetype:** No Dominant Pattern
- **What it means:** The three pillars do not combine into a recognisable pattern. Read them individually rather than looking for one story — the lack of a pattern is itself the finding.
- **Pillar profile:** Quality: Average · Valuation: Cheap · Momentum: Falling
- **Percentile:** 65.6 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 83.27 | 9% |
| growth | 50 | 9% |
| momentum | 5.4 | 12% |
| ownership | 57.42 | 24% |
| quality | 58.7 | 22% |
| valuation | 60.97 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company is almost debt free.
- Stock is trading at 0.48 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 4.09% over last 3 years.
- Earnings include an other income of Rs.1.04 Cr.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 98.19% | -157.14% | -102.61% |
| ebitda margin growth | 65.58% | — | — |
| net income growth | 233.33% | 169% | — |
| revenue growth | 28.4% | 18% | — |
| roce | 109.68% | — | — |
| roe | 214.81% | — | — |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 20.56 | 19.95 | 18.73 | 22.6 | 25.85 | 26.89 | 25.82 |
| Expenses | 20.34 | 19.74 | 18.52 | 22.7 | 25.84 | 26.56 | 25.4 |
| Operating Profit | 0.22 | 0.21 | 0.21 | -0.1 | 0.01 | 0.33 | 0.42 |
| OPM % | 1.07 | 1.05 | 1.12 | -0.44 | 0.04 | 1.23 | 1.63 |
| Other Income | 0.13 | 0.13 | 0.15 | 0.39 | 0.58 | 0.45 | 0.59 |
| Interest | 0.2 | 0.21 | 0.18 | 0.05 | 0.02 | 0.01 | 0.04 |
| Depreciation | 0.01 | 0.01 | 0.01 | 0.03 | 0.02 | 0.02 | 0.01 |
| Profit before tax | 0.14 | 0.12 | 0.17 | 0.21 | 0.55 | 0.75 | 0.96 |
| Tax % | 28.57 | 41.67 | 23.53 | 19.05 | 25.45 | 28 | 25 |
| Net Profit | 0.11 | 0.07 | 0.13 | 0.17 | 0.42 | 0.55 | 0.72 |
| EPS in Rs | 22 | 1.4 | 0.26 | 0.25 | 0.63 | 0.82 | 1.07 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- |
| Sales | 39.3 | 32.26 | 40.52 | 41.33 | 52.75 |
| Expenses | 38.91 | 32.07 | 40.09 | 41.23 | 52.41 |
| Operating Profit | 0.39 | 0.19 | 0.43 | 0.1 | 0.34 |
| OPM % | 0.99 | 0.59 | 1.06 | 0.24 | 0.64 |
| Other Income | 0.26 | 0.29 | 0.26 | 0.54 | 1.03 |
| Interest | 0.44 | 0.4 | 0.41 | 0.23 | 0.03 |
| Depreciation | 0.01 | 0.02 | 0.02 | 0.03 | 0.03 |
| Profit before tax | 0.2 | 0.06 | 0.26 | 0.38 | 1.31 |
| Tax % | 30 | 33.33 | 30.77 | 23.68 | 25.95 |
| Net Profit | 0.14 | 0.05 | 0.18 | 0.29 | 0.97 |
| EPS in Rs | 28 | 10 | 3.6 | 0.43 | 1.45 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.5 | 0.5 | 0.5 | 6.7 | 6.7 |
| Reserves | 0.71 | 0.75 | 0.93 | 15.06 | 16.03 |
| Borrowings | 4.06 | 4.67 | 4.47 | 0.18 | 0.11 |
| Other Liabilities | 0.43 | 0.24 | 0.67 | 1.01 | 2.07 |
| Total Liabilities | 5.7 | 6.16 | 6.57 | 22.95 | 24.91 |
| Fixed Assets | 2.37 | 2.37 | 2.36 | 2.38 | 2.35 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0.43 | 0 | 0 | 0.01 |
| Other Assets | 3.33 | 3.36 | 4.21 | 20.57 | 22.55 |
| Total Assets | 5.7 | 6.16 | 6.57 | 22.95 | 24.91 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.14 | 0.27 | 1.32 | -15.45 | -0.28 |
| Cash from Investing Activity | 0.25 | -0.32 | 0.02 | 0.28 | 0.83 |
| Cash from Financing Activity | -0.46 | 0.21 | -0.6 | 15.51 | -0.09 |
| Net Cash Flow | -0.06 | 0.16 | 0.73 | 0.34 | 0.46 |
| Free Cash Flow | 0.13 | 0.26 | 1.31 | -15.51 | -0.29 |
| CFO/OP | 51 | 153 | 326 | -15360 | 15 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | 15.88 | 8.6 | 9.01 | 28.53 | 30.24 |
| Inventory Days | — | — | — | 22.57 | 16 |
| Days Payable | — | — | — | 6.3 | 10.16 |
| Cash Conversion Cycle | 15.88 | 8.6 | 9.01 | 44.79 | 36.08 |
| Working Capital Days | 9.01 | -3.51 | -11.17 | 49.63 | 37.78 |
| ROCE % | — | 8.22 | 11.34 | 4.38 | 5.98 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 57.02% | 57.61% | 61.23% | 61.23% | 61.91% |
| FIIs | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% |
| Public | 34.16% | 34.5% | 33.05% | 28.34% | 26.1% |
| Others | 8.82% | 7.89% | 5.72% | 10.43% | 11.99% |
| No. of Shareholders | 539 | 539 | 506 | 493 | 442 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 6 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 16.39 | Buy |
| EMA (10) | 16.67 | Sell |
| SMA (20) | 17.12 | Sell |
| EMA (20) | 17.56 | Sell |
| SMA (50) | 20.73 | Sell |
| EMA (50) | 20.47 | Sell |
| SMA (100) | 25.56 | Sell |
| EMA (100) | 23.88 | Sell |
| SMA (200) | 29.89 | Sell |
| EMA (200) | 27.67 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 42.73 | Neutral |
| MACD (12,26,9) | -1.37 | Buy |
| Stochastic (14,3,3) | 53.15 | Neutral |
| ADX (14) | 22.55 | Neutral |
| Williams %R (14) | -45.74 | Neutral |
| ATR (14) | 1.09 | High Volatility |
| ROC (12) | -5.13 | Sell |
| Stoch RSI (14) | 97.31 | Sell |
| UO (7,14,28) | 51.29 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 April 2026 - RTA confirmed Regulation 74(5) compliance for quarter ended March 31, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 9 April 2026 - RTA confirmed Regulation 74(5) compliance for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/SHANTHALA_09042026170658_74_5_Shanthala_March_2026.pdf) |
| 8 June 2026 - Board approved forensic audit and reappointed internal auditor on June 7, 2026 amid financial statement inconsistencies. | [Outcome of Board Meeting 8 June 2026 - Board approved forensic audit and reappointed internal auditor on June 7, 2026 amid financial statement inconsistencies.](https://nsearchives.nseindia.com/corporate/SHANTHALA_08062026152817_20260607_BM_Outcome.pdf) |
| 7 Aug - NSE fined company Rs.2,65,500 for March 2026 results delay; forensic audit underway. | [Updates 7 Aug - NSE fined company Rs.2,65,500 for March 2026 results delay; forensic audit underway.](https://nsearchives.nseindia.com/corporate/SHANTHALA_07082026193643_Board_comments_on_fine_levied_by_the_Exchange.pdf) |
| 6 Aug - Board noted forensic audit, NSE Reg 33 non-compliance notices, and HUL distributorship termination. | [Outcome of Board Meeting 6 Aug - Board noted forensic audit, NSE Reg 33 non-compliance notices, and HUL distributorship termination.](https://nsearchives.nseindia.com/corporate/SHANTHALA_06082026135530_Outcome_06082026.pdf) |
| 30 May 2026 - Shanthala FMCG delays audited standalone and consolidated results for year ended March 31, 2026. | [Reasons for Delayed/Non-submission of Financial Results 30 May 2026 - Shanthala FMCG delays audited standalone and consolidated results for year ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/SHANTHALA_30052026173956_Intimation_to_NSE_for_delay_in_Financial_results.pdf) |
| 29 June 2026 - Yearly Regulation 31(4) disclosure received from promoter and promoter group for FY ended 31 March 2026. | [Disclosure under SEBI Takeover Regulations 29 June 2026 - Yearly Regulation 31(4) disclosure received from promoter and promoter group for FY ended 31 March 2026.](https://nsearchives.nseindia.com/corporate/team_bbodade_11052026155753_SHANTHALA1.pdf) |
| 28 April 2026 - Annual Secretarial Compliance Report not required for FY ending March 31, 2026 under Regulation 15(2). | [Updates 28 April 2026 - Annual Secretarial Compliance Report not required for FY ending March 31, 2026 under Regulation 15(2).](https://nsearchives.nseindia.com/corporate/SHANTHALA_28042026174545_Undertaking_for_non_applicability_Annual_sec_com_rep.pdf) |
| 27 Jul - M/s. Chaudhary Chaudhary & Co resigned; GuruJana Consulting LLP appointed as forensic auditor on July 27, 2026. | [Initiation of Forensic Audit 27 Jul - M/s. Chaudhary Chaudhary & Co resigned; GuruJana Consulting LLP appointed as forensic auditor on July 27, 2026.](https://nsearchives.nseindia.com/corporate/SHANTHALA_27072026183921_Reg_30_Shanthala.pdf) |
| 25 March 2026 - Trading window closed from Apr 1, 2026 until 48 hours after audited results for half year/year ended Mar 31, 2026. | [Trading Window 25 March 2026 - Trading window closed from Apr 1, 2026 until 48 hours after audited results for half year/year ended Mar 31, 2026.](https://nsearchives.nseindia.com/corporate/SHANTHALA_25032026153911_Letter_to_NSE_Shanthala_Trading_Window_-1.pdf) |
| 21 April 2026 - SME-listed company filed non-applicability certificate for Corporate Governance under Regulation 27 for quarter ended March 31, 2026. | [Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter 21 April 2026 - SME-listed company filed non-applicability certificate for Corporate Governance under Regulation 27 for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/SHANTHALA_21042026145509_CG_Non_applicability.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_29114_SHANTHALA_2024_2025_A_1027105_17092025151749.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25328_SHANTHALA_2023_2024_30082024163831.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:17:21.544Z.