Super Tannery Ltd (SUPTANERY)

📊 Quarterly Results (₹ Cr)

The company's quarterly revenue has shown mixed movement, with a peak of ₹76 lakh in June 2026 followed by a decline to ₹57 lakh in March 2026, indicating seasonality or demand softness. Operating margins have fluctuated between 2.9% and 9.9%, with a notable drop in December 2025 to 3.8%, suggesting margin pressure during certain periods. Despite this, net profit and EPS have remained relatively stable, supported by cost management despite revenue volatility. The inconsistent top-line growth contrasts with stable bottom-line performance, implying operational resilience but limited scalability in the current environment.

🔮 Management Outlook & What's Next

Management has not provided forward-looking guidance or strategic outlook in the latest regulatory filing, focusing instead on clarifying that stock movements are market-driven. There is no mention of new product launches, capacity expansion, or market development plans in the available disclosures. The absence of updated guidance suggests a conservative or status-quo approach to future expectations, with no explicit commentary on demand trends, pricing power, or margin outlook beyond historical performance.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

The balance sheet shows a stable capital structure with equity and reserves held at ₹11 crore and ₹96–99 crore respectively, while total assets have grown modestly from ₹263 crore to ₹294 crore over two fiscal years. Borrowings have increased from ₹69 crore to ₹92 crore, indicating rising leverage, though still moderate at a D/E of 0.67. This suggests management is not aggressively financing growth but may be relying on debt to support working capital or asset base expansion without significant equity dilution or investor confidence in organic growth.

💰 Cash Flow Statement (₹ Cr)

👥 Shareholding Pattern

Promoter holding remains unchanged at 58.42% across all recent quarters, indicating no divestment or acquisition activity. Institutional ownership is entirely absent, with FII and DII holdings at 0% consistently, while public shareholding has slightly increased from 33.58% to 33.81%. The growing number of shareholders (18,266 to 18,826) suggests retail interest is rising, possibly driven by market sentiment rather than fundamental improvements. The lack of institutional interest may reflect limited visibility or confidence in the company’s growth trajectory.

⚖️ Peer Comparison — Leather

🔗 Peer Stock Analyses

⚠️ Risk Factors

1) Heavy reliance on cyclical demand in the leather chemicals segment, with quarterly revenue volatility evident from seasonal dips and peaks. 2) Persistent margin pressure during low-revenue periods, as seen in December 2025’s 3.8% OPM, highlighting sensitivity to volume fluctuations. 3) Rising debt levels without corresponding growth in equity or asset base efficiency, raising concerns about financial flexibility. 4) Complete absence of institutional investor interest, which may limit liquidity and signal low market confidence in long-term prospects.

📋 Recent Filings

• Announcement2026-09-23Super Tannery Limited disclosed that its trading window for insiders will close on October 1, 2026, remaining shut until 48 hours after the un-audited…
• 🟡 Board Meeting2026-09-12Super Tannery Limited announced a proposed final dividend of Rs.0.05 per share for FY 2025-26, with the record date set for 15 September 2026, pending…
• 🔴 annual report2026-09-03Super Tannery Limited reported consolidated revenue of ₹24,834.93 lakhs for FY2025-26, down from ₹26,674.20 lakhs in the previous year. The company de…
• 🔴 Announcement2026-08-27Super Tannery Ltd clarified that its recent share price increase is purely market-driven with no undisclosed information affecting the stock. The clar…

🧠 Analyst's Read

Super Tannery Ltd appears to be a stable but stagnant player in a niche segment, with no clear catalyst for growth or margin expansion. Investors should monitor quarterly revenue trends and management’s ability to stabilize demand, as current performance reflects operational resilience but limited upside without strategic evolution or improved market visibility.

Based on filing content and financial data. Not a recommendation.