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 | 21.01 | 22.84 | 32.94 | 31.86 | 33.24 | 34.18 | 32.94 | 50.34 | 34.79 | 38.37 | 43.26 | 84.96 |
| Expenses | 16.36 | 17.35 | 24.41 | 24.02 | 24.84 | 24.88 | 24.41 | 39.19 | 25.27 | 27.56 | 27.24 | 72.11 |
| Operating Profit | 4.65 | 5.49 | 8.53 | 7.84 | 8.40 | 9.30 | 8.53 | 11.15 | 9.52 | 10.81 | 16.02 | 12.85 |
| OPM % | 22.13% | 24.04% | 25.90% | 24.61% | 25.27% | 27.21% | 25.90% | 22.15% | 27.36% | 28.17% | 37.03% | 15.12% |
| Other Income | 1.42 | 0.66 | 0.31 | 0.18 | 0.21 | 0.29 | 0.31 | 0.22 | 0.18 | -0.52 | 0.34 | 0.51 |
| Interest | 5.54 | 5.84 | 5.45 | 6.20 | 6.31 | 7.66 | 5.45 | 9.42 | 8.05 | 8.96 | 10.76 | 8.33 |
| Depreciation | 0.12 | 0.15 | 0.14 | 0.12 | 0.08 | 0.12 | 0.14 | 0.09 | 0.09 | 0.09 | 0.07 | 0.07 |
| Profit before tax | 0.41 | 0.16 | 3.25 | 1.70 | 2.22 | 1.81 | 3.25 | 1.86 | 1.56 | 1.24 | 5.53 | 4.96 |
| Tax % | 0.00% | 43.75% | 6.77% | 36.47% | 32.43% | 14.92% | 6.77% | 27.42% | 27.56% | 41.13% | 29.29% | 24.40% |
| Net Profit | 0.41 | 0.09 | 3.03 | 1.08 | 1.50 | 1.54 | 3.03 | 1.35 | 1.12 | 0.73 | 3.91 | 3.75 |
| EPS in Rs | 0.08 | 0.02 | 0.61 | 0.22 | 0.30 | 0.31 | 0.61 | 0.27 | 0.23 | 0.15 | 0.79 | 0.76 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 30 | 46 | 55 | 38 | 26 | 35 | 36 | 40 | 93 | 156 | 167 | 201 |
| Expenses | 23 | 35 | 41 | 33 | 21 | 28 | 32 | 30 | 70 | 117 | 119 | 152 |
| Operating Profit | 7 | 12 | 14 | 5 | 5 | 6 | 4 | 10 | 23 | 40 | 48 | 49 |
| OPM % | 22% | 25% | 26% | 14% | 19% | 18% | 12% | 25% | 25% | 25% | 28% | 24% |
| Other Income | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 5 | 4 | 1 | 0 | 1 |
| Interest | 6 | 10 | 13 | 6 | 6 | 8 | 6 | 14 | 22 | 29 | 37 | 36 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Profit before tax | 2 | 2 | 2 | 1 | 2 | 2 | 1 | 2 | 4 | 11 | 10 | 13 |
| Tax % | 35% | 35% | 33% | 45% | 27% | 25% | 76% | 27% | 26% | 27% | 30% | |
| Net Profit | 1 | 2 | 2 | 1 | 2 | 1 | 0 | 1 | 3 | 8 | 7 | 10 |
| EPS in Rs | 0.26 | 0.32 | 0.30 | 0.13 | 0.34 | 0.23 | 0.06 | 0.27 | 0.64 | 1.61 | 1.43 | 1.93 |
| 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% | 37% | 61% | 34% | ||
| Compounded Profit Growth | 19% | 46% | 78% | 34% | ||
| Stock Price CAGR | 11% | 33% | 41% | -67% | ||
| Return on Equity | 7% | 7% | 8% | 9% |
| 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 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 50 | 50 | 50 | 50 |
| Reserves | 5 | 7 | 8 | 10 | 10 | 12 | 13 | 14 | 19 | 23 | 31 | 38 |
| Borrowings | 91 | 152 | 127 | 116 | 133 | 129 | 231 | 288 | 383 | 471 | 583 | 652 |
| Other Liabilities | 27 | 15 | 26 | 22 | 102 | 131 | 53 | 39 | 79 | 73 | 75 | 101 |
| Total Liabilities | 129 | 179 | 166 | 153 | 251 | 278 | 303 | 346 | 531 | 616 | 739 | 841 |
| Fixed Assets | 0 | 0 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 2 | 2 | 2 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 4 | 4 |
| Other Assets | 129 | 179 | 165 | 152 | 250 | 276 | 301 | 344 | 529 | 612 | 733 | 835 |
| Total Assets | 129 | 179 | 166 | 153 | 251 | 278 | 303 | 346 | 531 | 616 | 739 | 841 |
| 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 | -33 | -0 | 0 | 19 | -53 | 14 | 25 | -39 | -112 | -158 | -81 | -24 |
| Cash from Investing Activity | 1 | 0 | 0 | 0 | -40 | -4 | -2 | -10 | -10 | 84 | -2 | -7 |
| Cash from Financing Activity | 32 | 0 | -0 | -23 | 94 | -10 | -23 | 50 | 130 | 67 | 83 | 32 |
| Net Cash Flow | -1 | 0 | 0 | -4 | 0 | -0 | 0 | 0 | 8 | -7 | 1 | 1 |
| Free Cash Flow | -33 | -0 | 0 | 19 | -53 | 13 | 25 | -39 | -112 | -160 | -81 | -24 |
| CFO/OP | -729% | -1% | 0% | 141% | -1,037% | 288% | 400% | -897% | -1,096% | -674% | -199% | -44% |
| 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 | 77 | 192 | 158 | 35 | 57 | 102 | 33 | 16 | 403 | 238 | 141 | 96 |
| Inventory Days | 1,625 | 2,434 | 1,450 | 1,283 | 2,285 | 4,184 | 3,253 | 3,289 | 5,096 | 2,937 | 2,119 | 2,431 |
| Days Payable | 312 | 142 | 208 | 143 | 196 | 558 | 685 | 421 | 937 | 350 | 10 | 36 |
| Cash Conversion Cycle | 1,389 | 2,484 | 1,400 | 1,174 | 2,145 | 3,728 | 2,602 | 2,884 | 4,562 | 2,825 | 2,249 | 2,491 |
| Working Capital Days | 157 | 128 | 106 | 118 | 580 | 1,043 | 790 | 653 | 1,229 | 251 | 161 | 464 |
| ROCE % | 7% | 6% | 8% | 11% | 5% | 6% | 5% | 3% | 4% | 5% | 7% | 7% |
| 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 | 41.48% | 41.48% | 41.48% | 41.48% | 41.48% | 41.48% | 41.48% | 41.48% | 41.48% | 41.48% | 41.48% | 41.48% |
| Public | 58.52% | 58.53% | 58.53% | 58.52% | 58.53% | 58.52% | 58.52% | 58.53% | 58.53% | 58.52% | 58.53% | 58.53% |
| No. of Shareholders | 3,156 | 3,669 | 4,022 | 3,975 | 4,385 | 4,490 | 4,773 | 5,014 | 4,827 | 4,559 | 4,518 | 4,474 |
Fundamentals
Market Cap₹ 147 Cr.
Current Price₹ 29.6
Stock P/E14.8
Book Value₹ 17.6
ROCE6.85 %
ROE9.05 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)34%
Compounded Profit Growth (TTM)34%
Standalone figures.
Valuation
Market capRs 145 Cr
Enterprise valueRs 794 Cr
P/E (TTM)15.21x
Price to book1.66x
Price to sales0.72x
EV / EBITDA15.98x
EV / EBIT16.08x
EV / sales3.94x
Earnings yield6.57%
P/E, 3-year average24.37x
P/B, 3-year average1.87x
P/E, 5-year average25.76x
P/B, 5-year average1.32x
Profitability
Operating margin (excl. other income)28.49%
Operating margin (incl. other income)28.62%
EBITDA margin24.68%
Pre-tax margin6.60%
Net profit margin4.72%
Net margin, latest quarter4.41%
ROE8.50%
ROCE6.75%
ROA0.90%
ROE, 3-year average7.84%
ROCE, 3-year average6.24%
ROA, 3-year average0.88%
ROE, 5-year average5.63%
ROCE, 5-year average5.09%
ROA, 5-year average0.61%
ROIC (approx.)4.68%
Tax rate30.16%
Other income / net worth0.24%
Growth
Sales growth (latest year)6.80%
Profit growth (latest year)-11.11%
Sales CAGR, 3 years60.62%
Sales CAGR, 5 years36.95%
Profit CAGR, 3 years74.07%
Profit CAGR, 5 years44.25%
Sales growth QoQ96.39%
Profit growth QoQ-4.09%
Sales growth YoY (latest quarter)68.77%
Profit growth YoY (latest quarter)177.78%
Per share
EPS (TTM)Rs 1.92
EPS (latest year)Rs 1.44
EPS (latest quarter)Rs 0.76
EPS, 3-year averageRs 1.23
EPS, 5-year averageRs 0.90
Book value per shareRs 17.60
Sales per shareRs 40.59
Cash flow per shareRs -4.83
Free cash flow per shareRs -4.84
Efficiency
Asset turnover0.20x
Fixed asset turnover106.21x
Inventory turnover0.15x
Inventory days2414 days
Debtor days96 days
Debtors turnover3.82x
Creditor days36 days
Cash conversion cycle2491 days
Working capital days464 days
Leverage
Total debtRs 652 Cr
Cash and bankRs 3 Cr
Net debtRs 650 Cr
Debt to equity7.47x
Net debt / EBITDA13.07x
Interest coverage1.37x
Owners' fund to total sources10.39%
Debt to assets77.60%
Cash flow
Cash from Operating Activity (latest year)Rs -24 Cr
Cash from Investing Activity (latest year)Rs -7 Cr
Cash from Financing Activity (latest year)Rs 32 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs -24 Cr
FCFE (approx.: FCF + change in debt)Rs 45 Cr
Cash from ops / profit, 5 years-21.79x
Statement figures
Net sales (TTM)Rs 201 Cr
Net sales (latest year)Rs 167 Cr
Sales (latest quarter)Rs 85 Cr
Operating profit excl. other income (latest year)Rs 48 Cr
Operating profit (latest quarter)Rs 13 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 50 Cr
PBDT (TTM)Rs 14 Cr
Profit before tax (TTM)Rs 13 Cr
Tax (latest year)Rs 3 Cr
Net profit (TTM)Rs 10 Cr
Net profit (latest year)Rs 7 Cr
Net profit (latest quarter)Rs 4 Cr
Depreciation (TTM)Rs 0 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 36 Cr
Cost of goods sold (latest year)Rs 113 Cr
Total expenditure (latest year)Rs 119 Cr
Total income (latest year)Rs 167 Cr
Share capitalRs 50 Cr
ReservesRs 38 Cr
Shareholders' fundsRs 87 Cr
Total assetsRs 841 Cr
Net blockRs 2 Cr
InvestmentsRs 4 Cr
ReceivablesRs 44 Cr
InventoryRs 747 Cr
Other liabilitiesRs 101 Cr
Shares outstanding (crore)4.96
Ownership
Promoter holding41.48% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 15.2 is at the 10th percentile of its own 9.4-year range
(median 35.0, low 10.1, high 199.8).
P/B 1.66 is at the 32th percentile (median 2.20).
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 | 531694 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +0.6% | -2.8% | +3.3 pts |
| 1 month | -20.7% | -6.8% | -13.9 pts |
| 3 months | -25.4% | -7.6% | -17.8 pts |
| 3 years | +176.4% | +14.2% | +162.2 pts |
| 5 years | +288.8% | +27.9% | +260.9 pts |
Red flags
F-score 4 of 8| explain | Weak cash conversion Cash from operations was -1434% of net profit over the last 3 years |
| explain | Low interest cover Interest cover 1.3x 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 ₹85 Cr +68.8% vs Jun 2025.
Net profit ₹4 Cr +177.8%.
Activity
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|---|---|---|---|
| DLF Ltd | 161,638 | 37.6 | 6.32 % |
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| Aditya Birla Real Estate Ltd | 12,963 | -4.48 % | |
| SignatureGlobal India Ltd | 10,614 | 2.38 % | |
| Sri Lotus Developers & Realty Ltd | 10,466 | 40.7 | 21.2 % |
| Max Estates Ltd | 9,312 | 1,586 | 1.40 % |
| Embassy Developments Ltd | 7,833 | -2.44 % |
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.