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 | 24.43 | 32.60 | 29.40 | 29.46 | 30.45 | 28.72 | 27.77 | 39.58 | 41.18 | 36.77 | 45.77 | 46.97 |
| Expenses | 21.04 | 26.88 | 23.28 | 23.88 | 25.44 | 25.75 | 24.36 | 35.11 | 35.92 | 33.71 | 40.75 | 40.90 |
| Operating Profit | 3.39 | 5.72 | 6.12 | 5.58 | 5.01 | 2.97 | 3.41 | 4.47 | 5.26 | 3.06 | 5.02 | 6.07 |
| OPM % | 13.88% | 17.55% | 20.82% | 18.94% | 16.45% | 10.34% | 12.28% | 11.29% | 12.77% | 8.32% | 10.97% | 12.92% |
| Other Income | 0.26 | 0.28 | 0.31 | 0.22 | 0.30 | 0.56 | 0.37 | 0.41 | 0.37 | 0.63 | 0.22 | 0.56 |
| Interest | 1.31 | 1.21 | 1.17 | 1.26 | 1.37 | 1.64 | 1.84 | 1.22 | 1.04 | 1.39 | 1.43 | 1.76 |
| Depreciation | 1.20 | 1.20 | 1.63 | 1.31 | 1.33 | 1.35 | 1.39 | 1.37 | 1.44 | 1.43 | 1.50 | 1.64 |
| Profit before tax | 1.14 | 3.59 | 3.63 | 3.23 | 2.61 | 0.54 | 0.55 | 2.29 | 3.15 | 0.87 | 2.31 | 3.23 |
| Tax % | 28.95% | 27.02% | 33.88% | 29.72% | 22.22% | 59.26% | -18.18% | 34.50% | 31.11% | 40.23% | 18.61% | 26.93% |
| Net Profit | 0.81 | 2.63 | 2.40 | 2.27 | 2.03 | 0.22 | 0.64 | 1.50 | 2.16 | 0.53 | 1.88 | 2.37 |
| EPS in Rs | 0.64 | 2.09 | 1.91 | 1.80 | 1.61 | 0.17 | 0.51 | 1.19 | 1.72 | 0.42 | 1.49 | 1.88 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 34 | 36 | 31 | 41 | 40 | 35 | 46 | 66 | 114 | 116 | 163 | 171 |
| Expenses | 24 | 24 | 25 | 31 | 31 | 29 | 34 | 54 | 95 | 99 | 145 | 151 |
| Operating Profit | 10 | 11 | 6 | 10 | 9 | 6 | 12 | 11 | 19 | 17 | 18 | 19 |
| OPM % | 30% | 32% | 18% | 24% | 23% | 18% | 27% | 17% | 17% | 15% | 11% | 11% |
| Other Income | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 2 |
| Interest | 4 | 4 | 5 | 5 | 6 | 5 | 5 | 6 | 5 | 6 | 5 | 6 |
| Depreciation | 3 | 3 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 6 | 6 |
| Profit before tax | 4 | 4 | -3 | 1 | 0 | -3 | 3 | 1 | 10 | 7 | 9 | 10 |
| Tax % | 28% | 36% | -52% | 33% | 30% | -24% | 23% | 18% | 30% | 25% | 30% | |
| Net Profit | 3 | 3 | -1 | 1 | 0 | -2 | 2 | 1 | 7 | 5 | 6 | 7 |
| EPS in Rs | 3.17 | 2.87 | -1.32 | 0.71 | 0.07 | -2.17 | 1.95 | 0.96 | 5.39 | 4.10 | 4.81 | 5.51 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 17% | 36% | 35% | 35% | ||
| Compounded Profit Growth | 10% | 35% | 72% | 58% | ||
| Stock Price CAGR | 3% | 21% | 18% | -12% | ||
| Return on Equity | 5% | 9% | 11% | 10% |
| 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 | 8 | 9 | 10 | 10 | 10 | 10 | 11 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 7 | 12 | 17 | 22 | 24 | 24 | 24 | 27 | 28 | 35 | 46 | 52 |
| Borrowings | 39 | 37 | 34 | 38 | 36 | 39 | 46 | 41 | 38 | 39 | 57 | 62 |
| Other Liabilities | 25 | 26 | 24 | 13 | 11 | 10 | 7 | 10 | 22 | 14 | 18 | 56 |
| Total Liabilities | 80 | 83 | 85 | 83 | 82 | 84 | 88 | 90 | 101 | 101 | 133 | 183 |
| Fixed Assets | 62 | 61 | 64 | 63 | 60 | 62 | 59 | 59 | 56 | 55 | 52 | 69 |
| CWIP | 1 | 1 | 1 | 0 | 1 | 0 | 4 | 0 | 0 | 0 | 10 | 0 |
| Investments | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 |
| Other Assets | 15 | 21 | 20 | 19 | 20 | 22 | 25 | 30 | 45 | 46 | 71 | 114 |
| Total Assets | 80 | 83 | 85 | 83 | 82 | 84 | 88 | 90 | 101 | 101 | 133 | 183 |
| 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 | 13 | 1 | 8 | 0 | 5 | 7 | 2 | 8 | 8 | 9 | -0 | 6 |
| Cash from Investing Activity | -23 | 3 | -5 | -2 | -2 | -3 | -6 | -1 | -1 | -2 | -16 | -10 |
| Cash from Financing Activity | 10 | -5 | -3 | 4 | -5 | -4 | 5 | -8 | -8 | -6 | 19 | 1 |
| Net Cash Flow | -1 | -0 | -0 | 3 | -2 | 1 | 1 | -0 | -1 | 1 | 3 | -4 |
| Free Cash Flow | -10 | -0 | 3 | -2 | 3 | 4 | -3 | 7 | 6 | 7 | -14 | -5 |
| CFO/OP | 255% | 18% | 74% | 15% | 58% | 80% | 34% | 68% | 70% | 50% | 5% | 37% |
| 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 | 83 | 96 | 91 | 63 | 62 | 64 | 67 | 90 | 69 | 49 | 68 | 75 |
| Inventory Days | 129 | 344 | 440 | 456 | 384 | 471 | 587 | 343 | 344 | 119 | 171 | 217 |
| Days Payable | 273 | 340 | 559 | 330 | 242 | 202 | 153 | 195 | 275 | 59 | 74 | 146 |
| Cash Conversion Cycle | -61 | 100 | -27 | 188 | 204 | 333 | 501 | 238 | 138 | 109 | 165 | 146 |
| Working Capital Days | -118 | -100 | -107 | 18 | 42 | 59 | 56 | 46 | 56 | 26 | 24 | 18 |
| ROCE % | 8% | 13% | 15% | 4% | 9% | 8% | 3% | 10% | 9% | 18% | 13% | 11% |
| 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 | 53.77% | 53.66% | 53.65% | 53.65% | 53.65% | 53.65% | 53.65% | 53.65% | 53.65% | 53.65% | 53.65% | 53.65% |
| DIIs | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
| Public | 45.62% | 45.73% | 45.72% | 45.74% | 45.73% | 45.73% | 45.74% | 45.73% | 45.73% | 45.73% | 45.74% | 45.74% |
| No. of Shareholders | 15,950 | 16,088 | 16,245 | 16,630 | 16,998 | 17,115 | 17,082 | 17,013 | 16,810 | 16,770 | 16,670 | 16,554 |
Fundamentals
Market Cap₹ 134 Cr.
Current Price₹ 107
Stock P/E19.4
Book Value₹ 51.5
ROCE11.3 %
ROE9.81 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)35%
Compounded Profit Growth (TTM)58%
Standalone figures.
Valuation
Market capRs 133 Cr
Enterprise valueRs 194 Cr
P/E (TTM)19.12x
Price to book2.05x
Price to sales0.78x
EV / EBITDA9.17x
EV / EBIT12.81x
EV / sales1.14x
Price to cash flow23.86x
Earnings yield5.23%
P/E, 3-year average21.40x
P/B, 3-year average2.40x
P/E, 5-year average28.15x
P/B, 5-year average2.10x
Profitability
Operating margin (excl. other income)11.26%
Operating margin (incl. other income)11.91%
EBITDA margin12.41%
Pre-tax margin5.60%
Net profit margin4.07%
Net margin, latest quarter5.05%
ROE9.81%
ROCE11.29%
ROA3.83%
ROE, 3-year average11.68%
ROCE, 3-year average14.07%
ROA, 3-year average4.99%
ROE, 5-year average8.93%
ROCE, 5-year average12.35%
ROA, 5-year average3.79%
ROIC (approx.)8.44%
Tax rate29.70%
Other income / net worth1.65%
Growth
Sales growth (latest year)40.28%
Profit growth (latest year)17.44%
Sales CAGR, 3 years35.39%
Sales CAGR, 5 years36.11%
Profit CAGR, 3 years71.09%
Sales growth QoQ2.62%
Profit growth QoQ26.06%
Sales growth YoY (latest quarter)18.67%
Profit growth YoY (latest quarter)58.00%
Per share
EPS (TTM)Rs 5.51
EPS (latest year)Rs 4.81
EPS (latest quarter)Rs 1.88
EPS, 3-year averageRs 4.77
EPS, 5-year averageRs 3.44
Book value per shareRs 51.47
Sales per shareRs 135.59
Cash flow per shareRs 4.42
Free cash flow per shareRs -3.97
Efficiency
Asset turnover0.89x
Fixed asset turnover2.36x
Inventory turnover2.14x
Inventory days170 days
Debtor days75 days
Debtors turnover4.88x
Creditor days146 days
Cash conversion cycle146 days
Working capital days18 days
Leverage
Total debtRs 62 Cr
Cash and bankRs 1 Cr
Net debtRs 62 Cr
Debt to equity0.96x
Net debt / EBITDA2.91x
Interest coverage2.70x
Owners' fund to total sources35.37%
Debt to assets34.08%
Cash flow
Cash from Operating Activity (latest year)Rs 6 Cr
Cash from Investing Activity (latest year)Rs -10 Cr
Cash from Financing Activity (latest year)Rs 1 Cr
Net Cash Flow (latest year)Rs -4 Cr
Free cash flow (latest year)Rs -5 Cr
FCFE (approx.: FCF + change in debt)Rs 1 Cr
Cash from ops / profit, 5 years1.48x
Sales to cash flow29.37x
Statement figures
Net sales (TTM)Rs 171 Cr
Net sales (latest year)Rs 163 Cr
Sales (latest quarter)Rs 47 Cr
Operating profit excl. other income (latest year)Rs 18 Cr
Operating profit (latest quarter)Rs 6 Cr
Other income (TTM)Rs 2 Cr
EBITDA (TTM)Rs 21 Cr
PBDT (TTM)Rs 16 Cr
Profit before tax (TTM)Rs 10 Cr
Tax (latest year)Rs 3 Cr
Net profit (TTM)Rs 7 Cr
Net profit (latest year)Rs 6 Cr
Net profit (latest quarter)Rs 2 Cr
Depreciation (TTM)Rs 6 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 6 Cr
Cost of goods sold (latest year)Rs 120 Cr
Total expenditure (latest year)Rs 145 Cr
Total income (latest year)Rs 164 Cr
Share capitalRs 13 Cr
ReservesRs 52 Cr
Shareholders' fundsRs 65 Cr
Total assetsRs 183 Cr
Net blockRs 69 Cr
Capital work in progressRs 0 Cr
ReceivablesRs 33 Cr
InventoryRs 56 Cr
Other liabilitiesRs 56 Cr
Shares outstanding (crore)1.26
Ownership
Promoter holding53.65% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 19.1 is at the 1th percentile of its own 6.8-year range
(median 35.6, low 16.1, high 386.7).
P/B 2.05 is at the 48th percentile (median 2.06).
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 | 524202 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -4.2% | -2.8% | -1.4 pts |
| 1 month | -0.7% | -6.8% | +6.1 pts |
| 3 months | +1.4% | -7.6% | +9.1 pts |
| 3 years | +62.2% | +14.2% | +48.0 pts |
| 5 years | +156.4% | +27.9% | +128.6 pts |
Red flags
F-score 5 of 8| look | Inventory outrunning sales Inventory grew 128% vs sales +40% in 2026 |
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 ₹47 Cr +18.7% vs Jun 2025.
Net profit ₹2 Cr +58.0%.
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 Lactose (India) Ltd?
Lactose (India) Ltd (524202) has a market capitalisation of Rs 134 Cr. at the 2026-10-01 close.
What is the P/E ratio of Lactose (India) Ltd?
Lactose (India) Ltd trades at a P/E of 19.4 on trailing twelve-month profit, at the 2026-10-01 close.
What were Lactose (India) Ltd's latest quarterly results?
In the Jun 2026 quarter, Lactose (India) Ltd sales was Rs 47 Cr (+18.7% vs Jun 2025) and net profit was Rs 2 Cr.