Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 67.78 | 73.59 | 92.09 | 92.64 | 75.68 | 67.22 | 90.84 | 80.70 | 58.69 | 65.50 | 98.90 | 87.70 |
| Expenses | 55.41 | 60.47 | 81.16 | 81.74 | 65.13 | 59.88 | 82.44 | 73.42 | 52.83 | 58.97 | 87.42 | 78.24 |
| Operating Profit | 12.37 | 13.12 | 10.93 | 10.90 | 10.55 | 7.34 | 8.40 | 7.28 | 5.86 | 6.53 | 11.48 | 9.46 |
| OPM % | 18.25% | 17.83% | 11.87% | 11.77% | 13.94% | 10.92% | 9.25% | 9.02% | 9.98% | 9.97% | 11.61% | 10.79% |
| Other Income | 0.04 | 0.25 | 0.29 | 0.06 | 0.08 | 0.06 | 0.33 | 0.10 | 0.26 | 0.25 | 0.61 | 0.58 |
| Interest | 0.77 | 0.87 | 0.87 | 0.60 | 0.66 | 0.53 | 0.47 | 0.38 | 0.28 | 0.18 | 0.15 | 0.12 |
| Depreciation | 2.23 | 2.23 | 2.25 | 1.92 | 1.99 | 1.99 | 1.94 | 1.72 | 1.76 | 1.76 | 1.85 | 1.58 |
| Profit before tax | 9.41 | 10.27 | 8.10 | 8.44 | 7.98 | 4.88 | 6.32 | 5.28 | 4.08 | 4.84 | 10.09 | 8.34 |
| Tax % | 22.32% | 27.85% | 28.15% | 20.62% | 18.67% | 18.44% | 32.75% | 13.07% | 21.57% | 16.53% | 30.43% | 19.30% |
| Net Profit | 7.31 | 7.41 | 5.82 | 6.71 | 6.49 | 3.99 | 4.25 | 4.59 | 3.20 | 4.04 | 7.01 | 6.73 |
| EPS in Rs | 6.41 | 6.50 | 5.11 | 5.89 | 5.69 | 3.50 | 3.73 | 4.03 | 2.81 | 3.54 | 6.15 | 5.90 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 56 | 60 | 70 | 116 | 118 | 218 | 237 | 285 | 345 | 326 | 304 | 311 |
| Expenses | 51 | 55 | 58 | 102 | 101 | 187 | 193 | 237 | 294 | 289 | 273 | 277 |
| Operating Profit | 5 | 5 | 12 | 14 | 17 | 31 | 44 | 48 | 51 | 37 | 31 | 33 |
| OPM % | 8% | 9% | 16% | 12% | 14% | 14% | 18% | 17% | 15% | 11% | 10% | 11% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 2 |
| Interest | 2 | 3 | 5 | 4 | 6 | 7 | 4 | 4 | 3 | 2 | 1 | 1 |
| Depreciation | 2 | 2 | 4 | 4 | 7 | 9 | 9 | 9 | 9 | 8 | 7 | 7 |
| Profit before tax | 1 | 1 | 3 | 6 | 4 | 15 | 31 | 36 | 39 | 28 | 24 | 27 |
| Tax % | 28% | -8% | -7% | 1% | -42% | 37% | 24% | 27% | 26% | 22% | 22% | |
| Net Profit | 0 | 1 | 4 | 6 | 5 | 9 | 24 | 26 | 29 | 21 | 19 | 21 |
| EPS in Rs | 0.38 | 0.84 | 3.14 | 5.53 | 4.74 | 8.04 | 20.68 | 22.82 | 25.38 | 18.80 | 16.54 | 18.40 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 5% | 7% | 8% | 11% | 14% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 19% | 7% | 2% | -1% | ||
| Compounded Profit Growth | 46% | 16% | -10% | 9% | ||
| Stock Price CAGR | 31% | 30% | -3% | -32% | ||
| Return on Equity | 19% | 21% | 17% | 12% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 18 | 18 | 19 | 22 | 29 | 34 | 43 | 67 | 92 | 119 | 138 | 155 |
| Borrowings | 18 | 25 | 45 | 51 | 64 | 87 | 66 | 61 | 54 | 41 | 21 | 7 |
| Other Liabilities | 6 | 4 | 4 | 4 | 7 | 17 | 9 | 5 | 15 | 14 | 12 | 14 |
| Total Liabilities | 53 | 59 | 79 | 89 | 111 | 149 | 130 | 145 | 172 | 186 | 183 | 187 |
| Fixed Assets | 21 | 20 | 39 | 41 | 57 | 82 | 75 | 74 | 84 | 75 | 69 | 65 |
| CWIP | 0 | 0 | 0 | 6 | 13 | 0 | 0 | 0 | 0 | 1 | 3 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15 |
| Other Assets | 32 | 39 | 40 | 41 | 40 | 67 | 54 | 71 | 88 | 110 | 111 | 106 |
| Total Assets | 53 | 59 | 79 | 89 | 111 | 149 | 130 | 145 | 172 | 186 | 183 | 187 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 22 | -4 | 7 | 8 | 20 | -0 | 33 | 13 | 33 | 31 | 30 | 40 |
| Cash from Investing Activity | -2 | -1 | -21 | -12 | -28 | -16 | -2 | -7 | -19 | -1 | -5 | -30 |
| Cash from Financing Activity | -19 | 4 | 17 | 1 | 8 | 16 | -28 | -9 | -13 | -18 | -24 | -18 |
| Net Cash Flow | 1 | -1 | 2 | -2 | 0 | -0 | 2 | -3 | 1 | 13 | 1 | -9 |
| Free Cash Flow | 20 | -5 | -14 | -4 | -7 | -17 | 31 | 6 | 14 | 30 | 26 | 39 |
| CFO/OP | 267% | -67% | 132% | 77% | 150% | 4% | 112% | 43% | 80% | 78% | 102% | 142% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 20 | 24 | 21 | 15 | 8 | 19 | 12 | 10 | 15 | 8 | 16 | 13 |
| Inventory Days | 88 | 246 | 207 | 197 | 114 | 221 | 83 | 120 | 66 | 74 | 68 | 80 |
| Days Payable | 15 | 20 | 16 | 11 | 16 | 61 | 10 | 5 | 6 | 6 | 6 | 5 |
| Cash Conversion Cycle | 92 | 250 | 212 | 201 | 106 | 178 | 86 | 125 | 75 | 76 | 78 | 88 |
| Working Capital Days | 30 | 99 | 86 | 69 | 20 | 35 | 17 | 46 | 42 | 49 | 64 | 71 |
| ROCE % | 11% | 5% | 6% | 10% | 11% | 8% | 17% | 27% | 27% | 26% | 17% | 15% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 73.70% | 73.70% | 73.70% | 73.70% | 73.70% | 73.70% | 73.70% | 73.70% | 73.70% | 73.70% | 73.70% | 73.70% |
| DIIs | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.05% |
| Public | 26.27% | 26.27% | 26.28% | 26.28% | 26.27% | 26.28% | 26.28% | 26.27% | 26.28% | 26.26% | 26.28% | 26.24% |
| No. of Shareholders | 10,325 | 10,684 | 11,328 | 12,045 | 12,038 | 11,930 | 11,831 | 11,846 | 11,715 | 11,900 | 11,805 | 11,621 |
Fundamentals
Market Cap₹ 290 Cr.
Current Price₹ 254
Stock P/E13.8
Book Value₹ 146
ROCE14.7 %
ROE12.0 %
Dividend Yield0.88 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-1%
Compounded Profit Growth (TTM)9%
Standalone figures.
Valuation
Market capRs 283 Cr
Enterprise valueRs 268 Cr
P/E (TTM)13.48x
Price to book1.70x
Price to sales0.91x
EV / EBITDA7.66x
EV / EBIT9.55x
EV / sales0.86x
Price to cash flow7.16x
Earnings yield7.42%
Dividend yield0.91%
P/E, 3-year average16.18x
P/B, 3-year average2.63x
P/E, 5-year average11.87x
P/B, 5-year average2.18x
Profitability
Operating margin (excl. other income)10.25%
Operating margin (incl. other income)10.66%
EBITDA margin11.27%
Pre-tax margin8.80%
Net profit margin6.75%
Net margin, latest quarter7.67%
ROE11.95%
ROCE14.73%
ROA10.19%
ROE, 3-year average17.35%
ROCE, 3-year average19.40%
ROA, 3-year average12.66%
ROE, 5-year average23.23%
ROCE, 5-year average22.43%
ROA, 5-year average14.31%
ROIC (approx.)14.38%
Tax rate22.43%
Other income / net worth0.74%
Growth
Sales growth (latest year)-6.92%
Profit growth (latest year)-12.04%
Sales CAGR, 3 years2.15%
Sales CAGR, 5 years6.89%
Profit CAGR, 3 years-10.18%
Profit CAGR, 5 years15.50%
Sales growth QoQ-11.32%
Profit growth QoQ-3.99%
Sales growth YoY (latest quarter)8.67%
Profit growth YoY (latest quarter)46.62%
Per share
EPS (TTM)Rs 18.40
EPS (latest year)Rs 16.54
EPS (latest quarter)Rs 5.90
EPS, 3-year averageRs 20.24
EPS, 5-year averageRs 20.84
Book value per shareRs 145.59
Sales per shareRs 272.62
Cash flow per shareRs 34.66
Free cash flow per shareRs 34.21
Dividend per share (latest year)Rs 2.25
Dividend per share, 3-year averageRs 2.11
Dividend per share, 5-year averageRs 1.79
Dividends
Dividend payout13.58%
Dividend payout, 3-year average10.87%
Dividend payout, 5-year average8.90%
Efficiency
Asset turnover1.63x
Fixed asset turnover4.70x
Inventory turnover5.42x
Inventory days67 days
Debtor days13 days
Debtors turnover28.47x
Creditor days5 days
Cash conversion cycle88 days
Working capital days71 days
Leverage
Total debtRs 7 Cr
Cash and bankRs 21 Cr
Net debtRs -15 Cr
Debt to equity0.04x
Net debt / EBITDA-0.41x
Interest coverage38.47x
Owners' fund to total sources88.83%
Debt to assets3.58%
Cash flow
Cash from Operating Activity (latest year)Rs 40 Cr
Cash from Investing Activity (latest year)Rs -30 Cr
Cash from Financing Activity (latest year)Rs -18 Cr
Net Cash Flow (latest year)Rs -9 Cr
Free cash flow (latest year)Rs 39 Cr
FCFE (approx.: FCF + change in debt)Rs 25 Cr
Cash from ops / profit, 5 years1.24x
Sales to cash flow7.69x
Statement figures
Net sales (TTM)Rs 311 Cr
Net sales (latest year)Rs 304 Cr
Sales (latest quarter)Rs 88 Cr
Operating profit excl. other income (latest year)Rs 31 Cr
Operating profit (latest quarter)Rs 9 Cr
Other income (TTM)Rs 2 Cr
EBITDA (TTM)Rs 35 Cr
PBDT (TTM)Rs 34 Cr
Profit before tax (TTM)Rs 27 Cr
Tax (latest year)Rs 5 Cr
Net profit (TTM)Rs 21 Cr
Net profit (latest year)Rs 19 Cr
Net profit (latest quarter)Rs 7 Cr
Depreciation (TTM)Rs 7 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 248 Cr
Total expenditure (latest year)Rs 273 Cr
Total income (latest year)Rs 305 Cr
Share capitalRs 11 Cr
ReservesRs 155 Cr
Shareholders' fundsRs 166 Cr
Total assetsRs 187 Cr
Net blockRs 65 Cr
Capital work in progressRs 1 Cr
InvestmentsRs 15 Cr
ReceivablesRs 11 Cr
InventoryRs 46 Cr
Other liabilitiesRs 14 Cr
Shares outstanding (crore)1.14
Ownership
Promoter holding73.70% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 13.5 is at the 55th percentile of its own 9.4-year range
(median 11.9, low 1.3, high 35.8).
P/B 1.70 is at the 56th percentile (median 1.43).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 518075 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -1.1% | -2.8% | +1.7 pts |
| 1 month | -6.4% | -6.8% | +0.4 pts |
| 3 months | +7.7% | -7.6% | +15.3 pts |
| 3 years | -10.4% | +14.2% | -24.6 pts |
| 5 years | +265.2% | +27.9% | +237.4 pts |
Red flags
F-score 5 of 8No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹88 Cr +8.7% vs Jun 2025.
Net profit ₹7 Cr +46.6%.
Activity
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.