According to reports from Business Standard, Crisil Ratings has upgraded SG Mart's ratings on bank facilities from 'Crisil A/Crisil A1' to 'Crisil AA-/Crisil A1+' with a 'stable' outlook. The agency has also removed the ratings from 'rating watch with positive implications' status. The upgrade reflects strong support from the Sudesh Gupta (SG) group following the transfer of controlling shareholding to Sanjay Gupta, chairman and MD of APL Apollo Tubes, along with his appointment as chairman of SG Mart. Crisil Ratings, a wholly-owned subsidiary of Crisil Limited, is India's foremost provider of ratings, data, research, analytics and solutions with a strong track record of growth and global footprint.
As reported by Business Standard, SG Mart demonstrated robust performance in the first quarter of fiscal 2027, with revenue increasing 14% year-on-year to ₹1,309 crore. This growth was driven by volume expansion and increasing contribution from value-added products. The company's EBITDA margin improved to 4.5% from 3.1% in the first quarter of fiscal 2026, indicating enhanced profitability. Revenue growth is expected to remain healthy at 10-15% over the medium term, supported by expansion of service centres, addition of new service centres, and growth in the renewable structures business.
According to Business Standard, the company's capital structure remains robust, supported by equity infusion of over ₹1,295 crore between fiscals 2024 and 2026. The total outside liabilities to adjusted networth ratio improved to 0.41 times as on March 31, 2026, compared to 0.90 times as on March 31, 2025. The company trades in more than 1,700 building products and derives bulk of its revenue from hot-rolled coils, CTL HR coils and thermo-mechanically treated bars. SG Mart is positioning itself as a one-stop solution provider for construction needs by appointing channel partners to penetrate the construction sector.
As reported by Business Standard, the stock price of SG Mart had advanced 2.10% to end at ₹711.65 on the BSE following the announcement. The ratings continue to reflect the company's healthy business risk profile, with improving scale, diversified operations across trading, service centres, downstream distribution and renewable structures, and strong financial risk profile supported by significant cash balance, healthy capital structure and strong promoter support.
