Price
Financials
Consolidated, 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 | 12.19 | 11.68 | 13.55 | 13.63 | 14.37 | 11.45 | 8.37 | 11.58 | 12.61 | 15.37 | 14.85 | 16.01 |
| Expenses | 10.02 | 10.01 | 12.78 | 11.49 | 11.62 | 11.65 | 9.19 | 10.58 | 11.21 | 13.37 | 13.39 | 13.98 |
| Operating Profit | 2.17 | 1.67 | 0.77 | 2.14 | 2.75 | -0.20 | -0.82 | 1.00 | 1.40 | 2.00 | 1.46 | 2.03 |
| OPM % | 17.80% | 14.30% | 5.68% | 15.70% | 19.14% | -1.75% | -9.80% | 8.64% | 11.10% | 13.01% | 9.83% | 12.68% |
| Other Income | 2.37 | 2.57 | 2.68 | 2.86 | 2.89 | 2.65 | 1.92 | 1.95 | 2.15 | 2.37 | 2.45 | 2.25 |
| Interest | 0.23 | 0.29 | 0.20 | 0.28 | 0.21 | 0.19 | 0.19 | 0.14 | 0.15 | 0.24 | 0.21 | 0.29 |
| Depreciation | 0.08 | 0.11 | 0.12 | 0.16 | 0.17 | 0.17 | 0.16 | 0.12 | 0.14 | 0.12 | 0.15 | 0.23 |
| Profit before tax | 4.23 | 3.84 | 3.13 | 4.56 | 5.26 | 2.09 | 0.75 | 2.69 | 3.26 | 4.01 | 3.55 | 3.76 |
| Tax % | 25.30% | 25.26% | 26.84% | 23.68% | 24.33% | 25.84% | 49.33% | 46.10% | 27.91% | 25.19% | 25.92% | 32.45% |
| Net Profit | 3.16 | 2.87 | 2.30 | 3.49 | 3.98 | 1.55 | 0.37 | 1.45 | 2.34 | 3.00 | 2.62 | 2.54 |
| EPS in Rs | 0.94 | 0.70 | 0.56 | 0.88 | 0.97 | 0.37 | 0.09 | 0.35 | 0.56 | 0.72 | 0.63 | 0.62 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 23 | 29 | 30 | 28 | 26 | 33 | 43 | 47 | 57 | 58 | 63 | 59 |
| Expenses | 19 | 24 | 25 | 26 | 23 | 27 | 35 | 34 | 42 | 44 | 49 | 52 |
| Operating Profit | 4 | 5 | 4 | 2 | 3 | 6 | 8 | 13 | 16 | 14 | 15 | 7 |
| OPM % | 17% | 16% | 15% | 9% | 12% | 19% | 19% | 27% | 27% | 24% | 23% | 12% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | 9 |
| Interest | 1 | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Profit before tax | 3 | 4 | 4 | 2 | 2 | 5 | 7 | 10 | 14 | 13 | 13 | 15 |
| Tax % | 34% | 35% | 29% | 36% | 25% | 32% | 25% | 27% | 26% | 26% | 30% | |
| Net Profit | 2 | 3 | 3 | 1 | 2 | 4 | 5 | 8 | 11 | 9 | 9 | 10 |
| EPS in Rs | 0.58 | 0.75 | 0.81 | 0.37 | 0.50 | 1.08 | 1.49 | 2.26 | 2.57 | 2.28 | 2.26 | 2.53 |
| Dividend Payout % | 21% | 20% | 22% | 41% | 30% | 17% | 17% | 17% | 15% | 22% | 22% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 11% | 14% | 11% | 29% | ||
| Compounded Profit Growth | 18% | 21% | 7% | 45% | ||
| Stock Price CAGR | 15% | 18% | 3% | -20% | ||
| Return on Equity | 15% | 16% | 15% | 13% |
| 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 | 3 | 5 | 5 | 5 | 5 | 5 | 5 | 8 | 8 | 10 | 21 | 21 |
| Reserves | 8 | 11 | 13 | 15 | 16 | 16 | 20 | 28 | 35 | 53 | 50 | 58 |
| Borrowings | 1 | 0 | 0 | 0 | 0 | 0 | 7 | 2 | 0 | 0 | 0 | 0 |
| Other Liabilities | 26 | 33 | 35 | 41 | 41 | 40 | 86 | 110 | 112 | 142 | 113 | 127 |
| Total Liabilities | 38 | 49 | 54 | 62 | 62 | 61 | 118 | 148 | 156 | 205 | 184 | 206 |
| Fixed Assets | 0 | 1 | 0 | 0 | 0 | 0 | 3 | 3 | 3 | 4 | 4 | 3 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 1 | 1 | 0 | 2 | 1 | 2 | 1 | 1 | 9 | 8 |
| Other Assets | 37 | 48 | 52 | 60 | 61 | 60 | 113 | 143 | 152 | 201 | 171 | 195 |
| Total Assets | 38 | 49 | 54 | 62 | 62 | 61 | 118 | 148 | 156 | 205 | 184 | 206 |
| 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 | 6 | -1 | -2 | 7 | -4 | 13 | 34 | 41 | -5 | 5 | -23 | 10 |
| Cash from Investing Activity | 2 | 1 | 0 | 3 | -7 | -3 | -44 | -23 | 5 | 2 | 40 | 27 |
| Cash from Financing Activity | 0 | 7 | -1 | -1 | -1 | -2 | 1 | 6 | 2 | 15 | -2 | -3 |
| Net Cash Flow | 8 | 7 | -3 | 9 | -12 | 8 | -10 | 25 | 2 | 22 | 15 | 35 |
| Free Cash Flow | 5 | -2 | -2 | 6 | -4 | 13 | 31 | 41 | -5 | 4 | -23 | 10 |
| CFO/OP | 203% | -10% | -18% | 184% | -136% | 462% | 561% | 524% | -20% | 56% | -132% | 98% |
| 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 | 117 | 140 | 167 | 137 | 147 | 59 | 98 | 89 | 61 | 77 | 99 | 114 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 117 | 140 | 167 | 137 | 147 | 59 | 98 | 89 | 61 | 77 | 99 | 114 |
| Working Capital Days | -200 | -158 | -76 | -141 | -93 | -294 | -588 | -792 | -650 | -493 | -498 | -508 |
| ROCE % | 26% | 24% | 24% | 21% | 11% | 14% | 23% | 23% | 30% | 29% | 20% | 19% |
| 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 | 58.10% | 47.61% | 47.61% | 47.61% | 47.61% | 47.04% | 47.04% | 47.04% | 47.04% | 46.76% | 46.76% | 46.76% |
| Public | 41.90% | 52.39% | 52.40% | 52.39% | 52.39% | 52.97% | 52.96% | 52.96% | 52.95% | 53.24% | 53.24% | 53.25% |
| No. of Shareholders | 5,198 | 5,716 | 5,756 | 6,738 | 7,013 | 13,402 | 24,859 | 23,180 | 22,123 | 21,291 | 20,354 | 19,723 |
Fundamentals
Market Cap₹ 71.3 Cr.
Current Price₹ 17.1
Stock P/E6.72
Book Value₹ 18.9
ROCE18.9 %
ROE12.6 %
Dividend Yield2.94 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)29%
Compounded Profit Growth (TTM)45%
Consolidated figures.
Valuation
Market capRs 70 Cr
Enterprise valueRs -13 Cr
P/E (TTM)6.58x
Price to book0.88x
Price to sales1.18x
EV / EBITDA-0.78x
EV / EBIT-0.81x
EV / sales-0.21x
Price to cash flow6.62x
Earnings yield15.21%
Dividend yield3.01%
P/E, 3-year average6.35x
P/B, 3-year average0.85x
P/E, 5-year average4.28x
P/B, 5-year average0.58x
Profitability
Operating margin (excl. other income)23.34%
Operating margin (incl. other income)23.34%
EBITDA margin27.38%
Pre-tax margin24.78%
Net profit margin17.96%
Net margin, latest quarter16.18%
ROE12.60%
ROCE18.97%
ROA4.84%
ROE, 3-year average15.48%
ROCE, 3-year average22.53%
ROA, 3-year average5.18%
ROE, 5-year average16.31%
ROCE, 5-year average24.02%
ROA, 5-year average4.86%
Tax rate30.17%
Growth
Sales growth (latest year)8.93%
Profit growth (latest year)-0.21%
Sales CAGR, 3 years10.52%
Sales CAGR, 5 years13.85%
Profit CAGR, 3 years7.59%
Profit CAGR, 5 years21.00%
Sales growth QoQ7.81%
Profit growth QoQ-1.52%
Sales growth YoY (latest quarter)38.26%
Profit growth YoY (latest quarter)78.62%
Per share
EPS (TTM)Rs 2.53
EPS (latest year)Rs 2.26
EPS (latest quarter)Rs 0.62
EPS, 3-year averageRs 4.94
EPS, 5-year averageRs 5.96
Book value per shareRs 18.90
Sales per shareRs 14.09
Cash flow per shareRs 2.52
Free cash flow per shareRs 2.40
Dividend per share (latest year)Rs 0.50
Dividend per share, 3-year averageRs 0.83
Dividend per share, 5-year averageRs 1.00
Dividends
Dividend payout22.14%
Dividend payout, 3-year average19.58%
Dividend payout, 5-year average18.43%
Efficiency
Asset turnover0.31x
Fixed asset turnover19.13x
Debtor days114 days
Debtors turnover3.20x
Cash conversion cycle114 days
Working capital days-508 days
Leverage
Total debtRs 0 Cr
Cash and bankRs 82 Cr
Net debtRs -82 Cr
Debt to equity0.00x
Net debt / EBITDA-5.10x
Interest coverage17.38x
Owners' fund to total sources38.25%
Debt to assets0.04%
Cash flow
Cash from Operating Activity (latest year)Rs 10 Cr
Cash from Investing Activity (latest year)Rs 27 Cr
Cash from Financing Activity (latest year)Rs -3 Cr
Net Cash Flow (latest year)Rs 35 Cr
Free cash flow (latest year)Rs 10 Cr
FCFE (approx.: FCF + change in debt)Rs 10 Cr
Cash from ops / profit, 5 years0.67x
Sales to cash flow6.03x
Statement figures
Net sales (TTM)Rs 59 Cr
Net sales (latest year)Rs 63 Cr
Sales (latest quarter)Rs 16 Cr
Operating profit excl. other income (latest year)Rs 15 Cr
Operating profit (latest quarter)Rs 2 Cr
Other income (TTM)Rs 9 Cr
EBITDA (TTM)Rs 16 Cr
PBDT (TTM)Rs 15 Cr
Profit before tax (TTM)Rs 15 Cr
Tax (latest year)Rs 4 Cr
Net profit (TTM)Rs 11 Cr
Net profit (latest year)Rs 9 Cr
Net profit (latest quarter)Rs 3 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 2 Cr
Total expenditure (latest year)Rs 49 Cr
Total income (latest year)Rs 63 Cr
Share capitalRs 21 Cr
ReservesRs 58 Cr
Shareholders' fundsRs 79 Cr
Total assetsRs 206 Cr
Net blockRs 3 Cr
InvestmentsRs 8 Cr
ReceivablesRs 20 Cr
Other liabilitiesRs 127 Cr
Shares outstanding (crore)4.17
Ownership
Promoter holding46.76% (-0.28 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 6.6 is at the 5th percentile of its own 9.4-year range
(median 10.2, low 5.5, high 22.4).
P/B 0.88 is at the 19th percentile (median 1.08).
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 | 523019 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -5.1% | -2.8% | -2.3 pts |
| 1 month | -14.7% | -6.8% | -8.0 pts |
| 3 months | +5.8% | -7.6% | +13.5 pts |
| 3 years | +5.6% | +14.2% | -8.5 pts |
| 5 years | +124.1% | +27.9% | +96.2 pts |
Red flags
F-score 5 of 8| explain | Weak cash conversion Cash from operations was -25% of net profit over the last 3 years |
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 ₹16 Cr +38.3% vs Jun 2025.
Net profit ₹3 Cr +75.2%.
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.
Quick answers
What is the market cap of B N Rathi Securities Ltd?
B N Rathi Securities Ltd (523019) has a market capitalisation of Rs 71.3 Cr. at the 2026-10-01 close.
What is the P/E ratio of B N Rathi Securities Ltd?
B N Rathi Securities Ltd trades at a P/E of 6.72 on trailing twelve-month profit, at the 2026-10-01 close.
What were B N Rathi Securities Ltd's latest quarterly results?
In the Jun 2026 quarter, B N Rathi Securities Ltd sales was Rs 16 Cr (+38.3% vs Jun 2025) and net profit was Rs 3 Cr.