Somi Conveyor Beltings Limited (SOMICONVEY) AI Stock Analysis

• Market Cap: ₹1.18B
• Dividend Yield: N/A
• Average Volume (3M): 4.50K
• Price to Earnings (P/E): 15.3
• Beta (1Y): 0.91
• Revenue Growth: -8.10%
• EPS Growth: -22.77%
• Country: IN
• Employees: 102
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 2.02
• Shares Outstanding: 11,779,656
• 10 Day Avg. Volume: 2,936
• 30 Day Avg. Volume: 4,497
• PEG Ratio: 1.84
• Price to Book (P/B): 2.77
• Price to Sales (P/S): 2.09
• P/FCF Ratio: -21.27
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: ₹116.00 ▼(-4.80% Downside)
• Action: Reiterated Date: 02/07/26
• Date: Action: Reiterated 02/07/26

The score is primarily supported by solid financial performance (growth and profitability with a stable balance sheet), but is held back by weak technical signals and a P/E that looks demanding without dividend support. Cash-flow volatility and negative recent free cash flow are the main fundamental risk factors.

Positive Factors

Stable balance sheet and manageable leverage

A reasonable debt-to-equity ratio and solid equity ratio indicate financial resilience and flexibility. This durable capital structure supports funding of working capital and capital expenditure, reduces refinancing risk, and preserves strategic optionality over the next several quarters.

Healthy and improving profitability margins

Stable gross margins with improving net margins and healthy EBIT/EBITDA point to disciplined cost management and operational leverage. Sustained margins indicate the company can absorb input cost swings and maintain cash generation capacity over a multi-quarter horizon.

Exposure to durable industrial end-markets

Serving mining, cement, steel and power ties revenue to essential bulk-material industries with steady replacement and maintenance demand. This structural end-market exposure supports recurring product and service revenue over time, cushioning cyclicality in individual sectors.

Negative Factors

Volatile operating cash flow and negative recent free cash flow

Persistent FCF deficits and operating cash volatility limit internal funding for growth, capex, and working capital. Over several quarters this raises reliance on external financing, constrains strategic investments, and increases sensitivity to demand or input-cost shocks.

Recent revenue and EPS contraction

Negative top-line and EPS trends signal near-term demand weakness or margin pressure that can erode scale advantages. If this persists over multiple quarters, it undermines operating leverage, weakens internal cash generation, and complicates recovery without structural improvements.

Exposure to raw-material price and order-volume volatility

Business economics depend on rubber/fabric input prices and order-driven demand, creating persistent margin and revenue cyclicality. Limited pass-through or abrupt order swings can compress profitability and cash flow across several quarters, challenging margin sustainability.

Somi Conveyor Beltings Limited Business Overview & Revenue Model

Company Description

Somi Conveyor Beltings Limited manufactures and sells industrial conveyor belts in India and internationally. It provides general purpose, heat resistant, fire resistant, and oil resistant conveyor belts. The company also offers special purpose conveyor belts, such as bullet proof, fusion, chevron, rough top, and pipe conveyor belts, as well as rubber sheets and mattings, and steel cord beltings. It primarily serves the cement, sponge iron, power, and mining sectors. Somi Conveyor Beltings Limited was incorporated in 2000 and is headquartered in Jodhpur, India.

How the Company Makes Money

SOMICONVEY generates revenue primarily through the sale of conveyor belts and accessories to industrial clients across multiple sectors. The company benefits from a diverse revenue model that includes direct sales, long-term contracts, and customized solutions for specific projects. Key revenue streams include bulk orders from large manufacturers, repeat business from existing clients, and partnerships with distributors to expand market reach. Additionally, SOMICONVEY may leverage its expertise in conveyor systems to provide consulting services, which can also contribute to its earnings. Factors such as strong customer relationships, a robust supply chain, and a focus on quality and innovation play a significant role in enhancing the company's profitability.

Somi Conveyor Beltings Limited Financial Statement Overview

Summary

Strong revenue growth and healthy operating profitability, supported by a stable balance sheet and manageable leverage. The key risk is volatile operating cash flow and negative recent free cash flow, which tempers the overall financial strength.

Income Statement

The company has shown strong revenue growth over the years, with a significant increase from 2022 to 2023. Gross profit margin has remained relatively stable, but the net profit margin has improved, indicating better cost management. EBIT and EBITDA margins are healthy, showing good profitability from core operations.

Balance Sheet

The company maintains a reasonable debt-to-equity ratio, suggesting manageable leverage levels. Return on Equity (ROE) has improved, indicating efficient use of shareholders' equity. The equity ratio is solid, showing a stable financial structure with a good proportion of equity in total assets.

Cash Flow

The cash flow statement shows volatility, with fluctuations in operating cash flow. Free cash flow has been negative in recent years, which could be a concern if this trend continues. However, the company has managed investments and financing effectively to support operations.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	978.85M	1.01B	1.02B	937.33M	571.30M	467.63M
Gross Profit	268.24M	226.51M	167.40M	216.81M	103.81M	154.59M
EBITDA	98.04M	108.56M	84.86M	80.01M	66.60M	66.79M
Net Income	44.43M	54.86M	45.53M	34.68M	17.16M	17.61M
Balance Sheet
Total Assets	1.12B	1.22B	1.10B	1.03B	1.07B	1.00B
Cash, Cash Equivalents and Short-Term Investments	76.06M	60.52M	38.87M	24.73M	35.78M	5.49M
Total Debt	151.40M	214.15M	152.04M	176.03M	283.45M	222.09M
Total Liabilities	335.62M	453.51M	393.92M	362.53M	427.46M	377.91M
Stockholders Equity	785.99M	765.38M	710.50M	665.00M	642.20M	625.05M
Cash Flow
Free Cash Flow	76.57M	-99.63M	47.32M	149.08M	-44.33M	34.45M
Operating Cash Flow	97.04M	-89.49M	56.16M	155.97M	-18.72M	36.65M
Investing Cash Flow	-18.45M	-10.14M	-5.90M	-5.11M	-24.02M	-757.00K
Financing Cash Flow	-69.33M	62.11M	-36.16M	-127.27M	38.43M	-39.19M

Somi Conveyor Beltings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 121.85
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SOMICONVEY, the sentiment is Negative. The current price of 121.85 is above the 20-day moving average (MA) of 103.85, above the 50-day MA of 106.86, and below the 200-day MA of 136.01, indicating a bearish trend. The MACD of -2.40 indicates Positive momentum. The RSI at 43.31 is Neutral, neither overbought nor oversold. The STOCH value of 50.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SOMICONVEY.

Somi Conveyor Beltings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GNA	72 Outperform	₹16.27B	10.02	―	0.95%	-4.65%	9.95%
THEJO	70 Outperform	₹17.16B	53.19	―	0.30%	4.11%	2.40%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
KALYANIFRG	62 Neutral	₹2.15B	-483.49	―	0.62%	0.76%	17.16%
SOMICONVEY	60 Neutral	₹1.18B	15.28	―	―	-8.10%	-22.77%
STERTOOLS	60 Neutral	₹6.50B	157.48	―	0.87%	-19.33%	-26.30%
KECL	49 Neutral	₹5.53B	41.93	―	―	-11.25%	-48.96%

Somi Conveyor Beltings Limited Corporate Events

Somi Conveyor Beltings Posts Q3 FY26 Results, Nears Completion of Mixing Line Expansion

Somi Conveyor Beltings reported its standalone unaudited financial results for the quarter and nine months ended December 31, 2025, showing continued profitability with quarterly revenue from operations of about Rs 37.48 crore and profit after tax of about Rs 2.38 crore, and earnings per share of Rs 2.02. The board also highlighted progress on an ongoing expansion of its mixing line, with additional machinery installed, testing and commissioning underway, and commercial production expected to begin within the current financial year; this is projected to increase compounding capacity across all conveyor belt grades, enabling faster order execution, scaled operations, and improved product quality. The company additionally recognized an increased gratuity liability due to India’s new Labour Codes, reflecting the evolving regulatory environment for employee benefits.

Somi Conveyor Beltings Closes Trading Window Ahead of Q3 FY2025 Results

Somi Conveyor Beltings Limited has announced the closure of its trading window for directors, officers, designated employees and their immediate relatives from 1 January 2026 until 48 hours after the company releases its unaudited financial results for the quarter ended 31 December 2025. The move, made in line with SEBI’s Prohibition of Insider Trading Regulations and the company’s internal code of conduct, is intended to prevent insider trading ahead of the forthcoming quarterly results, underscoring the firm’s compliance posture and signalling that its third-quarter financial disclosures are imminent, with the exact board meeting date to be communicated later.