Sanghvi Brands Ltd

SBRANDS

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Market Cap

₹ 13 Cr

P/E

13.26

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

HIGH MARGIN

Technicals

Bullish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Sanghvi Brands Limited is a leading operator of luxury spa, beauty, wellness, and fitness brands in India. Their portfolio includes exclusive licenses for premium international brands such as Spa by Clarins, Spa by L'Occitane, and Elle Spas & Salons.

The company has expanded internationally, operating luxury spas across high-end locations, including The Ritz Carlton in San Francisco and JW Marriott in Mussoorie.

In 2015, Sanghvi Brands began its international expansion by acquiring the operating rights of L'Occitane Spa across the USA, Middle East, and Sri Lanka.

The company raised equity capital through a public issue in November 2017, with shares listed on the SME platform of BSE Ltd.

Sanghvi Brands is strategically expanding with nine new spa/salon locations under development, enhancing its global footprint.

Sector

FMCG

Industry

Personal Care - Indian - Medium / Small

Market Cap

13 Cr

Volatility

Low Risk

P/E Ratio

13.3

Industry P/E

254.7

PEG Ratio

0.1

P/B Ratio

2.4

52W High

19.79

52W Low

8.41

Sales CAGR

33.63%

28.76%

1.30%

10Y

1.65%

Profit CAGR

102.00%

—

10Y

30.65%

ROE

TTM

22.49%

9.22%

-29.52%

10Y

-21.45%

ROCE

TTM

25.39%

14.46%

-24.44%

10Y

-18.25%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
LLOYDS	67.95	157 Cr	—	2.34	0.00	-22.68	-23.46	-98.51
ADORMUL	127.20	128 Cr	—	4.12	0.00	-3.41	-3.28	-15.27
JHS	10.00	87 Cr	—	0.50	0.00	-2.92	-3.49	-3.84
GKB	52.00	26 Cr	—	0.49	0.00	-9.50	-2.61	-3.44
PARMCOS-B	36.50	18 Cr	300.42	0.86	0.00	0.28	6.21	0.15
SBRANDS	12.86	13 Cr	13.26	2.42	0.00	22.49	25.39	15.75
NOVATEOR	20.08	12 Cr	143.43	1.09	0.00	0.29	1.29	0.22

Financial Statements

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Consolidated Half Yearly Results (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2021	Sep 2021	Mar 2022	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025
Sales	3.12	1.83	3.52	4.06	4.26	4.31	4.31	5.39	6.81	6.08
Expenses	6.97	6.57	4.29	3.85	4.60	4.25	4.25	5.42	6.20	5.60
Interest	0.04	0.02	0.04	0.02	0.04	0.02	0.02	0.01	0.01	0.02
Operating Profit	-3.85	-4.74	-0.77	0.21	-0.34	0.06	0.06	-0.03	0.61	0.48
OPM %	-123.40	-259.02	-21.88	5.17	-7.98	1.39	1.39	-0.56	8.96	7.89
Other Income	0.11	2.48	0.39	0.18	0.42	0.59	0.59	0.21	0.36	0.11
Depreciation	0.10	0.05	0.05	0.04	0.04	0.03	0.03	0.03	0.02	0.02
Profit Before Tax	-3.88	-2.34	-0.47	0.33	0.00	0.59	0.59	0.13	0.95	0.56
Tax %	0.00	0.00	0.00	0.00	—	10.17	10.17	0.00	7.37	16.07
Net Profit	-3.88	-2.34	-0.47	0.33	-0.56	0.54	0.54	0.13	0.88	0.47
EPS in Rs	—	—	—	—	—	—	—	—	—	—

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	14	26	26	31	30	3.53	5.36	8.32	9.13	12
Expenses	16	26	29	33	38	9.21	11	8.45	9.28	12
Operating Profit	-1.20	0.47	-2.52	-1.33	-7.67	-5.68	-5.51	-0.13	-0.15	0.58
OPM %	-8.26	1.79	-9.54	-4.23	-25.49	-160.98	-102.83	-1.53	-1.64	4.72
Other Income	0.56	0.29	0.91	1.06	0.54	0.21	2.86	0.61	0.85	0.57
Interest	0.10	0.25	0.25	0.27	0.47	0.08	0.06	0.07	0.04	0.02
Depreciation	0.12	0.24	0.27	0.86	1.51	0.20	0.10	0.08	0.06	0.05
Profit Before Tax	-0.85	0.28	-2.13	-1.39	-9.10	-5.75	-2.80	0.33	0.60	1.08
Tax %	-0.77	57.11	-6.44	0.00	0.00	0.00	0.00	166.29	16.34	6.18
Net Profit	-0.86	0.12	-2.27	-1.39	-9.10	-5.75	-2.80	-0.22	0.50	1.01
EPS in Rs	—	—	—	—	—	—	—	—	—	—
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.65	0.70	10	10	10	10	10	10	10	10
Reserves	4.67	7.52	12	11	1.70	-4.07	-6.22	-6.41	-5.90	-4.89
Borrowings	2.82	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	3.48	3.78	4.20	3.26	3.99	3.17	3.30	3.32	2.64	2.81
Total Liabilities	12	12	27	25	16	9.52	7.50	7.33	7.15	8.34
Fixed Assets	0.76	1.24	1.16	4.03	0.84	0.66	0.26	0.18	0.12	0.07
CWIP	0.00	0.00	0.43	1.04	1.04	1.04	0.00	0.00	0.00	0.00
Investments	0.01	0.01	0.12	0.13	0.11	0.11	0.11	0.11	0.01	0.01
Other Assets	11	11	25	19	14	7.71	7.14	7.04	7.03	8.26
Total Assets	12	12	27	25	16	9.52	7.50	7.33	7.15	8.34

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-3.68	-4.86	-4.79	-6.53	-8.51	-2.96	4.47	3.12	0.01	0.72
Cash from Investing Activity	0.20	-0.96	-10	-0.36	5.01	2.17	2.52	0.05	0.29	0.02
Cash from Financing Activity	1.42	2.64	19	3.74	3.10	1.05	-6.60	-2.60	0.00	0.00
Net Cash Flow	-2.06	-3.18	3.52	-3.15	-0.40	0.27	0.39	0.57	0.30	0.74

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2020	Sep 2020	Mar 2021	Sep 2021	Mar 2022	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025
Promoters	53.13%	53.13%	53.13%	53.13%	53.13%	53.13%	53.13%	53.13%	53.13%	53.13%	53.13%	53.13%
FIIs	1.00%	1.00%	1.00%	1.00%	0.00%	0.00%	0.20%	0.18%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	45.87%	45.87%	45.87%	45.87%	46.87%	46.87%	46.67%	46.69%	46.87%	46.87%	46.87%	46.87%
Total Shareholders	502	451	442	469	471	451	495	507	494	479	502	509

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Mar 17, 2025	Maverick commodity brokers pr...	Bulk	Sell	11.74	0.32 Cr	2,70,000	2.59
Mar 17, 2025	Mukut behari agarwal	Bulk	Buy	11.74	0.32 Cr	2,74,000	2.63
Dec 31, 2024	Nikhil vora	Bulk	Sell	16.72	0.16 Cr	93,000	0.89
Dec 31, 2024	Govind anandkumar shorewala	Bulk	Buy	16.72	0.12 Cr	70,000	0.67

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY19

Investor Presentation

Q1 FY19

Investor Presentation

Q1 FY19

Investor Presentation

Q3 FY18

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Overview

Detailed Summary

The company has expanded internationally, operating luxury spas across high-end locations, including The Ritz Carlton in San Francisco and JW Marriott in Mussoorie.

In 2015, Sanghvi Brands began its international expansion by acquiring the operating rights of L'Occitane Spa across the USA, Middle East, and Sri Lanka.

The company raised equity capital through a public issue in November 2017, with shares listed on the SME platform of BSE Ltd.

Sanghvi Brands is strategically expanding with nine new spa/salon locations under development, enhancing its global footprint.

Sector

FMCG

Industry

Personal Care - Indian - Medium / Small

Market Cap

13 Cr

Volatility

Low Risk

P/E Ratio

13.3

Industry P/E

254.7

PEG Ratio

0.1

P/B Ratio

2.4

52W High

19.79

52W Low

8.41

Sales CAGR

33.63%

28.76%

1.30%

10Y

1.65%

Profit CAGR

102.00%

—

10Y

30.65%

ROE

TTM

22.49%

9.22%

-29.52%

10Y

-21.45%

ROCE

TTM

25.39%

14.46%

-24.44%

10Y

-18.25%

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Half Yearly Results (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2021	Sep 2021	Mar 2022	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025
Sales	3.12	1.83	3.52	4.06	4.26	4.31	4.31	5.39	6.81	6.08
Expenses	6.97	6.57	4.29	3.85	4.60	4.25	4.25	5.42	6.20	5.60
Interest	0.04	0.02	0.04	0.02	0.04	0.02	0.02	0.01	0.01	0.02
Operating Profit	-3.85	-4.74	-0.77	0.21	-0.34	0.06	0.06	-0.03	0.61	0.48
OPM %	-123.40	-259.02	-21.88	5.17	-7.98	1.39	1.39	-0.56	8.96	7.89
Other Income	0.11	2.48	0.39	0.18	0.42	0.59	0.59	0.21	0.36	0.11
Depreciation	0.10	0.05	0.05	0.04	0.04	0.03	0.03	0.03	0.02	0.02
Profit Before Tax	-3.88	-2.34	-0.47	0.33	0.00	0.59	0.59	0.13	0.95	0.56
Tax %	0.00	0.00	0.00	0.00	—	10.17	10.17	0.00	7.37	16.07
Net Profit	-3.88	-2.34	-0.47	0.33	-0.56	0.54	0.54	0.13	0.88	0.47
EPS in Rs	—	—	—	—	—	—	—	—	—	—

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	14	26	26	31	30	3.53	5.36	8.32	9.13	12
Expenses	16	26	29	33	38	9.21	11	8.45	9.28	12
Operating Profit	-1.20	0.47	-2.52	-1.33	-7.67	-5.68	-5.51	-0.13	-0.15	0.58
OPM %	-8.26	1.79	-9.54	-4.23	-25.49	-160.98	-102.83	-1.53	-1.64	4.72
Other Income	0.56	0.29	0.91	1.06	0.54	0.21	2.86	0.61	0.85	0.57
Interest	0.10	0.25	0.25	0.27	0.47	0.08	0.06	0.07	0.04	0.02
Depreciation	0.12	0.24	0.27	0.86	1.51	0.20	0.10	0.08	0.06	0.05
Profit Before Tax	-0.85	0.28	-2.13	-1.39	-9.10	-5.75	-2.80	0.33	0.60	1.08
Tax %	-0.77	57.11	-6.44	0.00	0.00	0.00	0.00	166.29	16.34	6.18
Net Profit	-0.86	0.12	-2.27	-1.39	-9.10	-5.75	-2.80	-0.22	0.50	1.01
EPS in Rs	—	—	—	—	—	—	—	—	—	—
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.65	0.70	10	10	10	10	10	10	10	10
Reserves	4.67	7.52	12	11	1.70	-4.07	-6.22	-6.41	-5.90	-4.89
Borrowings	2.82	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	3.48	3.78	4.20	3.26	3.99	3.17	3.30	3.32	2.64	2.81
Total Liabilities	12	12	27	25	16	9.52	7.50	7.33	7.15	8.34
Fixed Assets	0.76	1.24	1.16	4.03	0.84	0.66	0.26	0.18	0.12	0.07
CWIP	0.00	0.00	0.43	1.04	1.04	1.04	0.00	0.00	0.00	0.00
Investments	0.01	0.01	0.12	0.13	0.11	0.11	0.11	0.11	0.01	0.01
Other Assets	11	11	25	19	14	7.71	7.14	7.04	7.03	8.26
Total Assets	12	12	27	25	16	9.52	7.50	7.33	7.15	8.34

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-3.68	-4.86	-4.79	-6.53	-8.51	-2.96	4.47	3.12	0.01	0.72
Cash from Investing Activity	0.20	-0.96	-10	-0.36	5.01	2.17	2.52	0.05	0.29	0.02
Cash from Financing Activity	1.42	2.64	19	3.74	3.10	1.05	-6.60	-2.60	0.00	0.00
Net Cash Flow	-2.06	-3.18	3.52	-3.15	-0.40	0.27	0.39	0.57	0.30	0.74

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
LLOYDS	67.95	157 Cr	—	2.34	0.00	-22.68	-23.46	-98.51
ADORMUL	127.20	128 Cr	—	4.12	0.00	-3.41	-3.28	-15.27
JHS	10.00	87 Cr	—	0.50	0.00	-2.92	-3.49	-3.84
GKB	52.00	26 Cr	—	0.49	0.00	-9.50	-2.61	-3.44
PARMCOS-B	36.50	18 Cr	300.42	0.86	0.00	0.28	6.21	0.15
SBRANDS	12.86	13 Cr	13.26	2.42	0.00	22.49	25.39	15.75
NOVATEOR	20.08	12 Cr	143.43	1.09	0.00	0.29	1.29	0.22