---
title: "Smarten Power Systems Ltd (SMARTEN) — Share Price, Financials & Analysis"
symbol: "SMARTEN"
company: "Smarten Power Systems Ltd"
canonical: "https://tapetide.com/stocks/SMARTEN"
isin: "INE14GK01016"
nse_symbol: "SMARTEN"
sector: "Industrials"
industry: "Electrical Equipment"
market_cap_cr: 101.65
generated_at: "2026-09-13T18:20:01.760Z"
---

# Smarten Power Systems Ltd (SMARTEN)

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

## Company

- **NSE Symbol:** SMARTEN
- **ISIN:** INE14GK01016
- **Sector:** Industrials
- **Industry:** Electrical Equipment
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2025-07-14
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** smartenpowersystems.com

## About

Incorporated in 2014, Smarten Power Systems Limited is in the business of designing and assembling of power back-up and advanced solar power products, and trading of solar panels and batteries[1]

## Latest Price

- **Price:** ₹53.6
- **Change:** +0.05 (+0.09%)
- **Open:** ₹53.6
- **Day High:** ₹53.6
- **Day Low:** ₹53.6
- **Previous Close:** ₹53.55
- **Volume:** 1200
- **As Of:** 2026-09-11T09:58:08+00:00

## Key Fundamentals

Observed at 2026-09-11T04:34:27.853258Z.

- **Market Cap:** ₹101.65 Cr
- **Classification:** SME
- **P/E (reported):** 11.6
- **Book Value:** ₹44.02
- **Price to Book:** 1.22
- **Dividend Yield:** 0%
- **ROE:** 33.14%
- **ROCE:** 42.95%
- **Debt to Equity:** 0.06
- **Revenue (yearly):** ₹242.66 Cr
- **Net Income:** ₹8.93 Cr
- **EBITDA:** ₹11.97 Cr
- **52-Week High:** ₹104.8
- **52-Week Low:** ₹42
- **RSI (14):** 45.27

## Tapetide Score

- **Score:** 50 / 100
- **Score date:** 2026-09-04
- **Archetype:** Weak and Under Pressure
- **What it means:** Weak financials are the defining feature, and neither the valuation nor the trend reading is strong enough to offset them. Worth reading the risk flags and recent filings closely before anything else.
- **Pillar profile:** Quality: Weak · Valuation: Fair · Momentum: Falling
- **Percentile:** 47.7 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 73.53 | 9% |
| growth | 69.2 | 9% |
| momentum | 48.26 | 12% |
| ownership | 50 | 24% |
| quality | 48.48 | 22% |
| valuation | 57.54 | 24% |

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

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 30.6% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.0%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Working capital days have increased from 56.3 days to 83.3 days

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | — | 1.18% | -237.16% |
| ebitda margin growth | -55.17% | -45.8% | -42.96% | 32.43% |
| net income growth | -53.66% | -30.23% | 19% | 31% |
| revenue growth | -24.15% | 19.42% | 11% | 20% |
| roce | -56.69% | -29.3% | -13.46% | 55.56% |
| roe | -52.1% | -24.37% | 37.53% | -34.19% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Sales | 108 | 94 | 115 | 127 |
| Expenses | 101 | 84 | 108 | 122 |
| Operating Profit | 7 | 9 | 7 | 5 |
| OPM % | 7 | 10 | 6 | 4 |
| Other Income | 1 | 1 | 1 | 0 |
| Interest | 0 | 1 | 1 | 0 |
| Depreciation | 0 | 0 | 0 | 1 |
| Profit before tax | 8 | 9 | 7 | 4 |
| Tax % | 24 | 27 | 21 | 32 |
| Net Profit | 6 | 7 | 6 | 3 |
| EPS in Rs | 59.9 | 4.52 | 3.09 | 1.54 |

### Profit & Loss

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 96 | 160 | 176 | 192 | 201 | 243 |
| Expenses | 95 | 158 | 174 | 178 | 184 | 231 |
| Operating Profit | 2 | 2 | 2 | 14 | 17 | 12 |
| OPM % | 1.6 | 1 | 1.1 | 7 | 8 | 4.9 |
| Other Income | 2 | 5 | 6 | 4 | 1 | 2 |
| Interest | 0 | 0 | 0 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | 3 | 6 | 7 | 16 | 17 | 12 |
| Tax % | 25 | 28 | 29 | 30 | 26 | 25 |
| Net Profit | 2 | 4 | 5 | 11 | 13 | 9 |
| EPS in Rs | 96.47 | 165.9 | 51.6 | 112.9 | 8.51 | 4.63 |
| Dividend Payout % | 0 | 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 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.24 | 0.24 | 1 | 1 | 15 | 19 |
| Reserves | 4 | 8 | 13 | 25 | 24 | 65 |
| Borrowings | 2 | 2 | 4 | 7 | 17 | 5 |
| Other Liabilities | 34 | 51 | 57 | 47 | 42 | 50 |
| Total Liabilities | 40 | 62 | 76 | 79 | 97 | 139 |
| Fixed Assets | 1 | 5 | 5 | 5 | 5 | 20 |
| CWIP | 0 | 0 | 0 | 1 | 5 | 7 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 39 | 57 | 71 | 74 | 88 | 112 |
| Total Assets | 40 | 62 | 76 | 79 | 97 | 139 |

### Cash Flow

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 2 | 3 | -3 | 0 | -3 | -8 |
| Cash from Investing Activity | -2 | -2 | 0 | -2 | -6 | -17 |
| Cash from Financing Activity | 1 | 1 | 2 | 2 | 9 | 24 |
| Net Cash Flow | 1 | 1 | -1 | 1 | 1 | -1 |
| Free Cash Flow | 1 | -1 | -3 | -1 | -6 | -27 |
| CFO/OP | 167 | 249 | -26 | 37 | 11 | -43 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 49 | 62 | 67 | 81 | 70 | 78 |
| Inventory Days | 66 | 55 | 77 | 56 | 81 | 74 |
| Days Payable | 127 | 116 | 111 | 77 | 64 | 76 |
| Cash Conversion Cycle | -12 | 2 | 33 | 60 | 86 | 76 |
| Working Capital Days | 0 | 5 | 18 | 36 | 49 | 83 |
| ROCE % | — | 68 | 51 | 65 | 41 | 18 |

## Shareholding Pattern

### Quarterly

| Category | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 91.67% | 91.67% | 67.1% | 67.1% | 67.1% | 67.1% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 0% | 26.45% | 26.57% | 25.44% | 25.87% |
| Others | 8.33% | 8.33% | 6.44% | 6.32% | 7.45% | 7.02% |
| No. of Shareholders | 24 | 24 | 1547 | 1489 | 1365 | 1353 |

## 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 / 5 / 12

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 55.44 | Sell |
| EMA (10) | 54.96 | Sell |
| SMA (20) | 55.29 | Sell |
| EMA (20) | 55.12 | Sell |
| SMA (50) | 56.14 | Sell |
| EMA (50) | 55.35 | Sell |
| SMA (100) | 54.87 | Sell |
| EMA (100) | 56.69 | Sell |
| SMA (200) | 59.24 | Sell |
| EMA (200) | 65.1 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 45.53 | Neutral |
| MACD (12,26,9) | -0.14 | Sell |
| Stochastic (14,3,3) | 21.75 | Neutral |
| ADX (14) | 13.27 | Neutral |
| Williams %R (14) | -87.06 | Buy |
| ATR (14) | 2.37 | High Volatility |
| ROC (12) | -4.71 | Sell |
| Stoch RSI (14) | 3.72 | Buy |
| UO (7,14,28) | 49.01 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 March 2026 - Transcript of Mar 6, 2026 meeting: Jhajjar expansion doubles capacity (600→1200/day), ₹7.5cr battery machinery, 20–30% FY27 growth. | [Analysts/Institutional Investor Meet/Con. Call Updates 9 March 2026 - Transcript of Mar 6, 2026 meeting: Jhajjar expansion doubles capacity (600→1200/day), ₹7.5cr battery machinery, 20–30% FY27 growth.](https://nsearchives.nseindia.com/corporate/SMARTENPOWER_09032026165740_NSETRANSCRIPT06032026.pdf) |
| 9 April 2026 - Smarten Power Systems Limited has informed regarding '' Reply to the Clarification sought on Price Movement" | [Updates 9 April 2026 - Smarten Power Systems Limited has informed regarding '' Reply to the Clarification sought on Price Movement"](https://nsearchives.nseindia.com/corporate/SMARTENPOWER_09042026105729_NSEREPLYLETTER08042026.pdf) |
| 9 April 2026 - Q4 FY26 business update: 65% battery plant utilisation, stronger volumes, Li-Ion strategy, and broad geographic growth. | [Updates 9 April 2026 - Q4 FY26 business update: 65% battery plant utilisation, stronger volumes, Li-Ion strategy, and broad geographic growth.](https://nsearchives.nseindia.com/corporate/SMARTENPOWER_09042026170535_NSEQ4FY26BUPDATES.pdf) |
| 8 April 2026 - Submitted Regulation 74(5) compliance certificate for quarter ended March 31, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 8 April 2026 - Submitted Regulation 74(5) compliance certificate for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/SMARTENPOWER_08042026111434_NSE74531032026.pdf) |
| 8 April 2026 - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written … | [Price movement 8 April 2026 - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written …](https://www.nseindia.com/companies-listing/corporate-filings-announcements?symbol=SMARTEN&tabIndex=sme) |
| 7 May 2026 - Monitoring agency report for H2 FY2025-26 shows no deviation; IPO proceeds 38.99 crore utilized, 1.02 crore pending. | [Monitoring Agency Report 7 May 2026 - Monitoring agency report for H2 FY2025-26 shows no deviation; IPO proceeds 38.99 crore utilized, 1.02 crore pending.](https://nsearchives.nseindia.com/corporate/SMARTENPOWER_07052026113658_NSEMA31032026.pdf) |
| 7 Aug - Board approved incorporation of wholly owned subsidiary in China, Hangzhou Smarten Electric Power Technology Co., Ltd. | [Updates 7 Aug - Board approved incorporation of wholly owned subsidiary in China, Hangzhou Smarten Electric Power Technology Co., Ltd.](https://nsearchives.nseindia.com/corporate/SMARTENPOWER_07082026221732_NSESTX07082026.pdf) |
| 6 March 2026 - Investor conference call held March 06, 2026; audio available on company's website. | [Analysts/Institutional Investor Meet/Con. Call Updates 6 March 2026 - Investor conference call held March 06, 2026; audio available on company's website.](https://nsearchives.nseindia.com/corporate/SMARTENPOWER_06032026212507_NSEVR06032026.pdf) |
| 5 May 2026 - Promoter filed annual non-encumbrance declaration for FY ended March 31, 2026. | [Disclosure under SEBI Takeover Regulations 5 May 2026 - Promoter filed annual non-encumbrance declaration for FY ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/team_sandeshc_16042026105710_Smarten_Disclosure.pdf) |
| 5 March 2026 - Recognized as 'India’s Leading ESG Entity' in Dun & Bradstreet's 'ESG Horizons' report; unveiled at ESG Leadership Summit 2026. | [Press Release 5 March 2026 - Recognized as 'India’s Leading ESG Entity' in Dun & Bradstreet's 'ESG Horizons' report; unveiled at ESG Leadership Summit 2026.](https://nsearchives.nseindia.com/corporate/SMARTENPOWER_05032026153549_NSEPR05032026.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Jan 2026 | [Concall - Jan 2026](https://nsearchives.nseindia.com/corporate/SMARTENPOWER_05012026142028_NSETRS05012026.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28775_SMARTEN_2024_2025_A_2253666_06092025170943.pdf) |

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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 2026-09-13T18:20:01.760Z.