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 | 0.00 | 0.00 | 0.00 | 2.34 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.70 | 0.00 |
| Expenses | 0.05 | 0.03 | 0.15 | 0.07 | 0.05 | 0.22 | 0.49 | 0.09 | 0.21 | 0.21 | 0.52 | 0.15 |
| Operating Profit | -0.05 | -0.03 | -0.15 | 2.27 | -0.05 | -0.22 | -0.49 | -0.09 | -0.21 | -0.21 | 1.18 | -0.15 |
| OPM % | 97.01% | 69.41% | ||||||||||
| Other Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.24 | 0.03 | 0.00 |
| Interest | 0.06 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.05 | 0.31 | 0.32 | 0.35 |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | -0.11 | -0.03 | -0.15 | 2.27 | -0.05 | -0.22 | -0.49 | -0.09 | -0.26 | -0.28 | 0.89 | -0.50 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.88% | 0.00% | 22.73% | 0.00% | 0.00% | 0.00% | 92.86% | 15.73% | 4.00% |
| Net Profit | -0.11 | -0.03 | -0.15 | 2.25 | -0.06 | -0.27 | -0.49 | -0.09 | -0.26 | -0.54 | 0.76 | -0.52 |
| EPS in Rs | -0.32 | -0.09 | -0.43 | 6.51 | -0.17 | -0.78 | -1.42 | -0.26 | -0.75 | -1.56 | 2.20 | -1.50 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 97.24 | 81.65 | 50.06 | 6.80 | -0.23 | -0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 1.70 | 1.70 |
| Expenses | 88.48 | 78.61 | 55.02 | 11.84 | 1.80 | 1.69 | 1.55 | 0.52 | 0.34 | 0.84 | 0.98 | 1.09 |
| Operating Profit | 8.76 | 3.04 | -4.96 | -5.04 | -2.03 | -1.70 | -1.55 | -0.52 | -0.34 | -0.84 | 0.72 | 0.61 |
| OPM % | 9.01% | 3.72% | -9.91% | -74.12% | 42.35% | 35.88% | ||||||
| Other Income | 1.09 | 3.67 | 3.60 | 2.46 | 4.34 | -5.60 | 1.22 | -0.28 | 0.00 | 2.34 | 0.27 | 0.27 |
| Interest | 5.46 | 5.29 | 4.03 | 1.03 | 1.94 | 0.44 | 0.29 | 0.23 | 0.11 | 0.00 | 0.72 | 1.03 |
| Depreciation | 1.38 | 1.20 | 1.21 | 1.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.00 | 0.00 |
| Profit before tax | 3.01 | 0.22 | -6.60 | -4.62 | 0.35 | -7.76 | -0.64 | -1.05 | -0.47 | 1.49 | 0.27 | -0.15 |
| Tax % | 22.26% | -18.18% | -0.91% | 1.52% | 0.00% | 0.00% | 18.75% | 16.19% | 4.26% | 4.70% | 148.15% | |
| Net Profit | 2.34 | 0.27 | -6.53 | -4.68 | 0.34 | -7.76 | -0.76 | -1.22 | -0.49 | 1.42 | -0.13 | -0.56 |
| EPS in Rs | 6.77 | 0.78 | -18.89 | -13.54 | 0.98 | -22.45 | -2.20 | -3.53 | -1.42 | 4.11 | -0.38 | -1.61 |
| Dividend Payout % | 10.35% | 51.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | -33% | % | % | % | ||
| Compounded Profit Growth | % | 9% | 8% | 38% | ||
| Stock Price CAGR | 7% | 84% | 163% | % | ||
| Return on Equity | % | % | % | -59% |
| 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 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 |
| Reserves | 12.81 | 14.86 | 15.11 | 8.43 | 3.88 | 3.93 | -3.91 | -4.66 | -5.87 | -6.36 | -1.83 | -1.96 |
| Borrowings | 34.62 | 36.31 | 33.74 | 32.23 | 27.49 | 1.42 | 1.53 | 1.59 | 1.75 | 1.92 | 0.11 | 13.62 |
| Other Liabilities | 36.68 | 32.17 | 33.54 | 25.33 | 21.60 | 19.55 | 13.18 | 1.87 | 2.00 | 2.28 | 0.57 | 1.65 |
| Total Liabilities | 87.57 | 86.80 | 85.85 | 69.45 | 56.43 | 28.36 | 14.26 | 2.26 | 1.34 | 1.30 | 2.31 | 16.77 |
| Fixed Assets | 13.06 | 12.29 | 11.75 | 10.99 | 10.03 | 3.04 | 1.06 | 0.94 | 0.90 | 0.88 | 0.00 | 0.00 |
| CWIP | 0.00 | 0.00 | 0.32 | 0.63 | 0.63 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.05 | 0.03 | 0.03 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 74.51 | 74.51 | 73.73 | 57.80 | 45.74 | 25.31 | 13.19 | 1.31 | 0.44 | 0.42 | 2.31 | 16.77 |
| Total Assets | 87.57 | 86.80 | 85.85 | 69.45 | 56.43 | 28.36 | 14.26 | 2.26 | 1.34 | 1.30 | 2.31 | 16.77 |
| 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 | 5.81 | 2.91 | 8.54 | 5.35 | 4.91 | 4.60 | -3.77 | -7.79 | -0.04 | -0.05 | -1.01 | -0.73 |
| Cash from Investing Activity | -0.90 | -0.60 | -0.95 | 0.30 | 0.83 | 23.64 | 11.12 | 1.02 | 0.06 | 0.00 | 0.12 | -13.17 |
| Cash from Financing Activity | -4.35 | -2.44 | -8.26 | -5.54 | -5.78 | -28.21 | -0.36 | -0.22 | -0.09 | 0.05 | 1.80 | 13.16 |
| Net Cash Flow | 0.56 | -0.13 | -0.68 | 0.12 | -0.03 | 0.03 | 6.99 | -6.99 | -0.07 | 0.00 | 0.90 | -0.74 |
| Free Cash Flow | 4.91 | 2.31 | 7.59 | 4.66 | 5.41 | 28.03 | 7.34 | -6.79 | 0.01 | -0.05 | -0.89 | -3.06 |
| CFO/OP | 88% | 39% | 307% | -108% | -92% | -235% | 220% | 514% | 10% | 15% | 120% | -93% |
| 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 | 192.30 | 203.75 | 236.93 | 310.02 | 1,980.12 | -29,533.26 | -22,995.00 | 405.79 | ||||
| Inventory Days | 77.58 | 64.74 | 82.85 | 55.49 | 92.24 | -1,221.96 | -2,190.00 | |||||
| Days Payable | 245.86 | 239.32 | 309.27 | 288.37 | 1,452.84 | |||||||
| Cash Conversion Cycle | 24.02 | 29.16 | 10.50 | 77.14 | 619.53 | -30,755.22 | -25,185.00 | 405.79 | ||||
| Working Capital Days | 10.52 | 21.32 | 30.13 | 20.85 | -39.72 | 9,728.04 | -251,485.00 | 165.32 | ||||
| ROCE % | 16.70% | 16.05% | 10.32% | -5.33% | -10.31% | 10.49% | -32.96% | -81.63% | 392.11% | 8.90% |
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 43.67% | 43.67% | 43.67% | 43.67% | 43.67% | 43.67% | 89.98% | 89.98% | 89.98% | 89.98% | 89.98% | 89.98% |
| Public | 56.33% | 56.33% | 56.33% | 56.33% | 56.34% | 56.34% | 10.01% | 10.01% | 10.01% | 10.01% | 10.01% | 10.01% |
| No. of Shareholders | 2,268 | 2,250 | 2,329 | 2,329 | 2,425 | 2,425 | 2,352 | 2,352 | 2,072 | 2,025 | 1,982 | 1,944 |
Fundamentals
Market Cap₹ 35.7 Cr.
Current Price₹ 103
Book Value₹ 4.34
ROCE8.90 %
ROE-59.4 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)%
Compounded Profit Growth (TTM)38%
Standalone figures.
Valuation
Market capRs 36 Cr
Enterprise valueRs 49 Cr
Price to book23.78x
Price to sales20.98x
EV / EBITDA55.80x
EV / EBIT55.80x
EV / sales28.89x
Earnings yield-1.57%
P/E, 3-year average3.42x
P/B, 3-year average6.88x
P/E, 5-year average3.42x
P/B, 5-year average3.73x
Profitability
Operating margin (excl. other income)42.35%
Operating margin (incl. other income)58.24%
EBITDA margin51.76%
Pre-tax margin-8.82%
Net profit margin-32.94%
ROE-8.31%
ROCE11.74%
ROA-1.36%
ROE, 3-year average-71.16%
ROCE, 3-year average201.92%
ROA, 3-year average13.40%
ROE, 5-year average-10.75%
ROCE, 5-year average118.74%
ROA, 5-year average-7.36%
ROIC (approx.)-2.84%
Tax rate148.15%
Other income / net worth18.00%
Growth
Profit growth (latest year)-109.15%
Profit growth QoQ-168.42%
Per share
EPS (TTM)Rs -1.62
EPS (latest year)Rs -0.38
EPS (latest quarter)Rs -1.50
EPS, 3-year averageRs 0.77
EPS, 5-year averageRs -0.68
Book value per shareRs 4.34
Sales per shareRs 4.92
Cash flow per shareRs -2.11
Free cash flow per shareRs -8.85
Efficiency
Asset turnover0.10x
Debtor days406 days
Debtors turnover0.90x
Creditor days1453 days
Cash conversion cycle406 days
Working capital days165 days
Leverage
Total debtRs 14 Cr
Cash and bankRs 0 Cr
Net debtRs 13 Cr
Debt to equity9.08x
Net debt / EBITDA15.27x
Interest coverage0.85x
Owners' fund to total sources8.94%
Debt to assets81.22%
Cash flow
Cash from Operating Activity (latest year)Rs -1 Cr
Cash from Investing Activity (latest year)Rs -13 Cr
Cash from Financing Activity (latest year)Rs 13 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs -3 Cr
FCFE (approx.: FCF + change in debt)Rs 10 Cr
Statement figures
Net sales (TTM)Rs 2 Cr
Net sales (latest year)Rs 2 Cr
Operating profit excl. other income (latest year)Rs 1 Cr
Operating profit (latest quarter)Rs -0 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 1 Cr
PBDT (TTM)Rs -0 Cr
Profit before tax (TTM)Rs -0 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs -1 Cr
Net profit (latest year)Rs -0 Cr
Net profit (latest quarter)Rs -1 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 0 Cr
Total expenditure (latest year)Rs 1 Cr
Total income (latest year)Rs 2 Cr
Share capitalRs 3 Cr
ReservesRs -2 Cr
Shareholders' fundsRs 2 Cr
Total assetsRs 17 Cr
ReceivablesRs 2 Cr
Other liabilitiesRs 2 Cr
Shares outstanding (crore)0.35
Ownership
Promoter holding89.98% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 23.78 is at the 98th percentile (median 0.38).
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 | 530609 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +5.0% | -2.8% | +7.8 pts |
| 1 month | +16.4% | -6.8% | +23.2 pts |
| 3 years | +1729.3% | +14.2% | +1715.1 pts |
| 5 years | +1963.4% | +27.9% | +1935.5 pts |
Red flags
F-score 1 of 6| explain | Weak cash conversion Cash from operations was -224% of net profit over the last 3 years |
| explain | Debt up, profit down Borrowings up 12282% while net profit fell in 2026 |
| look | Profit leans on other income Other income was 100% 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 ₹0 Cr.
Net loss ₹1 Cr.
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 Carnation Industries Ltd?
Carnation Industries Ltd (530609) has a market capitalisation of Rs 35.7 Cr. at the 2026-09-28 close.
What were Carnation Industries Ltd's latest quarterly results?
In the Jun 2026 quarter, Carnation Industries Ltd sales was Rs 0 Cr with a net loss of Rs 1 Cr.