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 | 31.70 | 32.41 | 37.37 | 35.93 | 45.44 | 41.02 | 47.39 | 53.02 | 52.88 | 64.53 | 73.82 | 102.38 |
| Expenses | 30.35 | 32.06 | 36.87 | 35.34 | 45.39 | 40.87 | 44.06 | 51.79 | 51.51 | 62.57 | 69.13 | 88.20 |
| Operating Profit | 1.35 | 0.35 | 0.50 | 0.59 | 0.05 | 0.15 | 3.33 | 1.23 | 1.37 | 1.96 | 4.69 | 14.18 |
| OPM % | 4.26% | 1.08% | 1.34% | 1.64% | 0.11% | 0.37% | 7.03% | 2.32% | 2.59% | 3.04% | 6.35% | 13.85% |
| Other Income | 0.07 | 0.11 | 0.09 | 0.14 | 0.35 | 1.20 | -0.53 | 0.63 | 0.40 | 0.64 | 1.13 | -3.52 |
| Interest | 0.91 | -0.09 | -0.06 | 0.28 | 0.43 | 0.52 | 0.43 | 0.76 | 1.31 | 1.23 | 1.62 | 1.64 |
| Depreciation | 0.09 | 0.10 | 0.10 | 0.12 | 0.24 | 0.50 | 0.19 | 0.50 | 0.64 | 0.64 | 0.71 | 0.61 |
| Profit before tax | 0.42 | 0.45 | 0.55 | 0.33 | -0.27 | 0.33 | 2.18 | 0.60 | -0.18 | 0.73 | 3.49 | 8.41 |
| Tax % | 30.95% | -2.22% | 47.27% | -0.00% | -3.70% | 48.48% | 39.45% | 25.00% | -22.22% | 32.88% | 27.79% | 25.21% |
| Net Profit | 0.29 | 0.46 | 0.29 | 0.32 | -0.26 | 0.16 | 1.31 | 0.46 | -0.14 | 0.49 | 2.52 | 6.30 |
| EPS in Rs | 0.35 | 0.56 | 0.35 | 0.39 | -0.31 | 0.19 | 1.59 | 0.56 | -0.17 | 0.59 | 3.05 | 7.63 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 44 | 55 | 87 | 117 | 83 | 92 | 125 | 152 | 131 | 170 | 244 | 294 |
| Expenses | 42 | 52 | 84 | 114 | 81 | 88 | 121 | 149 | 128 | 166 | 235 | 271 |
| Operating Profit | 2 | 2 | 2 | 3 | 2 | 4 | 4 | 3 | 3 | 4 | 9 | 22 |
| OPM % | 4.5% | 3.9% | 2.9% | 2.3% | 2.4% | 4.4% | 3.2% | 2.0% | 2.2% | 2.4% | 3.8% | 8% |
| Other Income | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 3 | -1 |
| Interest | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 5 | 6 |
| Depreciation | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 3 |
| Profit before tax | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 2 | 2 | 3 | 5 | 12 |
| Tax % | 33% | 34% | 3% | 32% | -5% | 30% | 23% | 25% | 20% | 40% | 29% | |
| Net Profit | 0 | 0 | 1 | 1 | 1 | 2 | 2 | 2 | 1 | 2 | 3 | 9 |
| EPS in Rs | 0.60 | 0.60 | 1.34 | 1.16 | 1.26 | 3.04 | 3.44 | 2.04 | 1.79 | 1.85 | 4.03 | 11.10 |
| 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 | 19% | 21% | 17% | 57% | ||
| Compounded Profit Growth | 23% | 9% | 29% | 626% | ||
| Stock Price CAGR | % | 11% | 58% | 319% | ||
| Return on Equity | 8% | 8% | 7% | 11% |
| 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 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 |
| Reserves | 5 | 5 | 6 | 7 | 7 | 8 | 10 | 14 | 17 | 20 | 21 | 24 |
| Borrowings | 8 | 10 | 15 | 17 | 18 | 19 | 22 | 21 | 26 | 33 | 56 | 68 |
| Other Liabilities | 8 | 6 | 4 | 8 | 9 | 7 | 8 | 10 | 13 | 12 | 15 | 30 |
| Total Liabilities | 28 | 29 | 32 | 38 | 41 | 41 | 47 | 51 | 64 | 72 | 100 | 131 |
| Fixed Assets | 8 | 8 | 7 | 7 | 7 | 7 | 6 | 7 | 7 | 6 | 30 | 45 |
| CWIP | -0 | -0 | -0 | -0 | -0 | -0 | 0 | -0 | 0 | 16 | 13 | -0 |
| Investments | 1 | 1 | 1 | 1 | 1 | -0 | -0 | 0 | -0 | -0 | -0 | -0 |
| Other Assets | 19 | 20 | 24 | 31 | 33 | 35 | 41 | 45 | 57 | 50 | 57 | 86 |
| Total Assets | 28 | 29 | 32 | 38 | 41 | 41 | 47 | 51 | 64 | 72 | 100 | 131 |
| 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 | 5 | 3 | -0 | -1 | 2 | 4 | -4 | 1 | 0 | -2 | 2 | -3 |
| Cash from Investing Activity | -0 | 0 | 1 | 0 | -0 | -6 | 2 | -0 | -4 | -7 | -21 | -5 |
| Cash from Financing Activity | -4 | -3 | -1 | 1 | -0 | 1 | 1 | -2 | 6 | 8 | 19 | 10 |
| Net Cash Flow | 1 | 0 | -0 | 0 | 2 | -2 | -0 | -1 | 1 | -1 | 0 | 2 |
| Free Cash Flow | 4 | 3 | -0 | -1 | 2 | 4 | -4 | 1 | 0 | -19 | -19 | -7 |
| CFO/OP | 166% | 173% | -4% | -25% | 88% | 218% | -88% | 61% | 27% | -56% | 60% | -20% |
| 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 | 67 | 78 | 95 | 87 | 66 | 75 | 77 | 71 | 66 | 79 | 71 | 53 |
| Inventory Days | 22 | 35 | 19 | 21 | 17 | 17 | 37 | 25 | 21 | 21 | 25 | 29 |
| Days Payable | 16 | 27 | 4 | 25 | 23 | 22 | 18 | 24 | 28 | 29 | 25 | 25 |
| Cash Conversion Cycle | 73 | 86 | 110 | 83 | 61 | 70 | 96 | 72 | 59 | 71 | 70 | 57 |
| Working Capital Days | 19 | 28 | 26 | 22 | 14 | 11 | 38 | 43 | 24 | 53 | 25 | 27 |
| ROCE % | 11% | 10% | 9% | 8% | 8% | 5% | 11% | 10% | 7% | 5% | 5% | 10% |
| 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 | 63.02% | 63.02% | 62.89% | 62.62% | 62.50% | 62.14% | 62.14% | 62.14% | 62.14% | 62.14% | 62.14% | 62.14% |
| DIIs | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% |
| Public | 36.87% | 36.87% | 37.01% | 37.27% | 37.39% | 37.74% | 37.76% | 37.75% | 37.74% | 37.76% | 37.75% | 37.75% |
| No. of Shareholders | 14,956 | 14,794 | 14,681 | 14,722 | 14,791 | 14,818 | 14,833 | 14,800 | 14,728 | 14,686 | 14,647 | 14,614 |
Fundamentals
Market Cap₹ 184 Cr.
Current Price₹ 223
Stock P/E15.2
Book Value₹ 39.5
ROCE10.3 %
ROE10.8 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)57%
Compounded Profit Growth (TTM)626%
Standalone figures.
Valuation
Market capRs 184 Cr
Enterprise valueRs 247 Cr
P/E (TTM)20.02x
Price to book5.63x
Price to sales0.63x
EV / EBITDA11.85x
EV / EBIT13.54x
EV / sales0.84x
Earnings yield4.99%
P/E, 3-year average22.19x
P/B, 3-year average1.37x
P/E, 5-year average21.92x
P/B, 5-year average1.55x
Profitability
Operating margin (excl. other income)3.78%
Operating margin (incl. other income)4.93%
EBITDA margin7.10%
Pre-tax margin4.24%
Net profit margin3.12%
Net margin, latest quarter6.15%
ROE10.75%
ROCE10.30%
ROA2.88%
ROE, 3-year average7.26%
ROCE, 3-year average7.15%
ROA, 3-year average2.28%
ROE, 5-year average8.26%
ROCE, 5-year average7.76%
ROA, 5-year average2.90%
ROIC (approx.)13.57%
Tax rate28.60%
Other income / net worth8.58%
Growth
Sales growth (latest year)43.86%
Profit growth (latest year)117.65%
Sales CAGR, 3 years17.02%
Sales CAGR, 5 years21.47%
Profit CAGR, 3 years28.76%
Profit CAGR, 5 years8.94%
Sales growth QoQ38.69%
Profit growth QoQ150.00%
Sales growth YoY (latest quarter)93.10%
Profit growth YoY (latest quarter)1269.57%
Per share
EPS (TTM)Rs 11.10
EPS (latest year)Rs 4.03
EPS (latest quarter)Rs 7.63
EPS, 3-year averageRs 2.56
EPS, 5-year averageRs 2.63
Book value per shareRs 39.50
Sales per shareRs 355.39
Cash flow per shareRs -3.12
Free cash flow per shareRs -8.47
Efficiency
Asset turnover1.87x
Fixed asset turnover5.43x
Inventory turnover13.10x
Inventory days28 days
Debtor days53 days
Debtors turnover6.84x
Creditor days25 days
Cash conversion cycle57 days
Working capital days27 days
Leverage
Total debtRs 68 Cr
Cash and bankRs 4 Cr
Net debtRs 63 Cr
Debt to equity2.08x
Net debt / EBITDA3.04x
Interest coverage3.15x
Owners' fund to total sources25.00%
Debt to assets51.97%
Cash flow
Cash from Operating Activity (latest year)Rs -3 Cr
Cash from Investing Activity (latest year)Rs -5 Cr
Cash from Financing Activity (latest year)Rs 10 Cr
Net Cash Flow (latest year)Rs 2 Cr
Free cash flow (latest year)Rs -7 Cr
FCFE (approx.: FCF + change in debt)Rs 5 Cr
Cash from ops / profit, 5 years-0.20x
Statement figures
Net sales (TTM)Rs 294 Cr
Net sales (latest year)Rs 244 Cr
Sales (latest quarter)Rs 102 Cr
Operating profit excl. other income (latest year)Rs 9 Cr
Operating profit (latest quarter)Rs 14 Cr
Other income (TTM)Rs -1 Cr
EBITDA (TTM)Rs 21 Cr
PBDT (TTM)Rs 15 Cr
Profit before tax (TTM)Rs 12 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 9 Cr
Net profit (latest year)Rs 3 Cr
Net profit (latest quarter)Rs 6 Cr
Depreciation (TTM)Rs 3 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 6 Cr
Cost of goods sold (latest year)Rs 225 Cr
Total expenditure (latest year)Rs 235 Cr
Total income (latest year)Rs 247 Cr
Share capitalRs 8 Cr
ReservesRs 24 Cr
Shareholders' fundsRs 33 Cr
Total assetsRs 131 Cr
Net blockRs 45 Cr
ReceivablesRs 36 Cr
InventoryRs 17 Cr
Other liabilitiesRs 30 Cr
Shares outstanding (crore)0.83
Ownership
Promoter holding62.14% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 20.0 is at the 34th percentile of its own 8.0-year range
(median 25.4, low 6.0, high 72.9).
P/B 5.63 is at the 96th percentile (median 1.70).
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 | 526231 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +15.5% | -2.8% | +18.3 pts |
| 1 month | +296.9% | -6.8% | +303.7 pts |
| 3 months | +312.0% | -7.6% | +319.6 pts |
| 3 years | +296.8% | +14.2% | +282.6 pts |
| 5 years | +61.1% | +27.9% | +33.2 pts |
Red flags
F-score 6 of 8| explain | Weak cash conversion Cash from operations was -46% of net profit over the last 3 years |
| look | Profit leans on other income Other income was 60% of pre-tax profit 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 ₹102 Cr +93.1% vs Jun 2025.
Net profit ₹6 Cr +1269.6%.
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.