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 | 33.53 | 27.04 | 27.33 | 23.58 | 32.10 | 31.46 | 21.49 | 32.05 | 22.39 | 33.92 | 44.34 | 25.53 |
| Expenses | 31.22 | 27.22 | 28.63 | 24.34 | 31.78 | 31.52 | 21.81 | 30.36 | 22.64 | 32.14 | 42.56 | 23.49 |
| Operating Profit | 2.31 | -0.18 | -1.30 | -0.76 | 0.32 | -0.06 | -0.32 | 1.69 | -0.25 | 1.78 | 1.78 | 2.04 |
| OPM % | 6.89% | -0.67% | -4.76% | -3.22% | 1.00% | -0.19% | -1.49% | 5.27% | -1.12% | 5.25% | 4.01% | 7.99% |
| Other Income | 0.89 | 0.66 | 2.28 | 1.58 | 1.01 | 2.58 | 1.27 | 1.66 | 1.36 | 1.13 | 0.11 | 0.53 |
| Interest | 0.69 | 0.64 | 1.08 | 0.37 | 0.77 | 1.52 | 1.18 | 0.83 | 0.76 | 1.14 | 1.29 | 0.96 |
| Depreciation | 0.10 | 0.21 | 0.06 | 0.17 | 0.19 | 0.19 | 0.22 | 0.15 | 0.15 | 0.16 | 0.16 | 0.16 |
| Profit before tax | 2.41 | -0.37 | -0.16 | 0.28 | 0.37 | 0.81 | -0.45 | 2.37 | 0.20 | 1.61 | 0.44 | 1.45 |
| Tax % | 13.28% | 2.70% | -25.00% | 25.00% | -5.41% | 20.99% | 15.56% | 17.30% | 60.00% | 22.36% | 90.91% | 26.21% |
| Net Profit | 2.10 | -0.37 | -0.13 | 0.20 | 0.39 | 0.64 | -0.52 | 1.97 | 0.09 | 1.25 | 0.04 | 1.07 |
| EPS in Rs | 0.11 | -0.02 | -0.01 | 0.01 | 0.02 | 0.03 | -0.03 | 0.10 | 0.00 | 0.06 | 0.00 | 0.05 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1 | 50 | 61 | 59 | 77 | 116 | 113 | 109 | 134 | 126 |
| Expenses | 1 | 49 | 61 | 58 | 77 | 115 | 113 | 109 | 128 | 121 |
| Operating Profit | -0 | 0 | 0 | 1 | -0 | 1 | 0 | -1 | 7 | 5 |
| OPM % | -13% | 0.4% | 0.5% | 2.0% | -0.0% | 0.7% | 0.3% | -0.8% | 5% | 4.2% |
| Other Income | 0 | 3 | 2 | 2 | 3 | 4 | 5 | 6 | 3 | 3 |
| Interest | 0 | 2 | 1 | 2 | 2 | 2 | 3 | 4 | 4 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Profit before tax | 0 | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 5 | 4 |
| Tax % | 25% | 26% | 28% | 26% | 21% | 16% | 29% | 28% | ||
| Net Profit | 0 | 1 | 1 | 1 | 0 | 2 | 1 | 1 | 3 | 2 |
| EPS in Rs | 0.00 | 0.03 | 0.04 | 0.06 | 0.03 | 0.09 | 0.05 | 0.03 | 0.17 | 0.11 |
| Dividend Payout % | 0% | 0% | 26% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 18% | 5% | 8% | ||
| Compounded Profit Growth | % | 28% | 22% | -1% | ||
| Stock Price CAGR | % | 5% | -29% | -52% | ||
| Return on Equity | % | 4% | 4% | 7% |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 17 | 17 | 17 | 18 | 19 | 19 | 19 | 20 |
| Reserves | -2 | -2 | -1 | -1 | 3 | 12 | 13 | 27 | 31 |
| Borrowings | 0 | 16 | 17 | 18 | 18 | 22 | 27 | 31 | 34 |
| Other Liabilities | 3 | 5 | 7 | 11 | 8 | 18 | 18 | 21 | 27 |
| Total Liabilities | 6 | 36 | 39 | 45 | 48 | 71 | 78 | 99 | 112 |
| Fixed Assets | 0 | 7 | 8 | 9 | 9 | 11 | 12 | 13 | 13 |
| CWIP | 0 | 0 | 2 | 1 | 1 | 1 | 1 | 2 | 4 |
| Investments | 0 | 3 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 6 | 25 | 28 | 34 | 38 | 58 | 64 | 84 | 95 |
| Total Assets | 6 | 36 | 39 | 45 | 48 | 71 | 78 | 99 | 112 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 0 | -9 | 0 | 0 | -7 | -9 | -7 | -17 | -1 |
| Cash from Investing Activity | 0 | -10 | -3 | -2 | 1 | -2 | 3 | -1 | 0 |
| Cash from Financing Activity | 0 | 19 | 3 | -0 | 6 | 10 | 3 | 18 | 0 |
| Net Cash Flow | 0 | 0 | 0 | -2 | 0 | 0 | -0 | 0 | -1 |
| Free Cash Flow | 0 | -11 | -3 | -0 | -7 | -10 | -8 | -19 | -4 |
| CFO/OP | 0% | -5,178% | 75% | 36% | 35,300% | -1,052% | -2,068% | 2,068% | 1% |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 586 | 73 | 67 | 91 | 63 | 73 | 64 | 88 | 104 |
| Inventory Days | 56 | ||||||||
| Days Payable | 65 | ||||||||
| Cash Conversion Cycle | 586 | 73 | 67 | 91 | 63 | 73 | 64 | 88 | 96 |
| Working Capital Days | 1,783 | 129 | 94 | 105 | 113 | 102 | 111 | 130 | 114 |
| ROCE % | 16% | 7% | 9% | 7% | 10% | 8% | 7% | 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 | 28.14% | 28.14% | 28.14% | 28.14% | 28.14% | 28.14% | 28.05% | 28.02% | 27.92% | 27.81% | 27.76% | 27.76% |
| FIIs | 0.57% | 1.36% | 2.84% | 1.55% | 1.55% | 1.55% | 2.13% | 1.66% | 1.61% | 1.61% | 1.61% | 1.61% |
| Government | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% |
| Public | 70.01% | 69.23% | 67.75% | 69.01% | 69.03% | 69.03% | 68.54% | 69.03% | 69.19% | 69.30% | 69.35% | 69.35% |
| No. of Shareholders | 9,606 | 10,532 | 9,779 | 9,967 | 10,842 | 12,887 | 14,291 | 14,023 | 11,262 | 11,736 | 11,793 | 11,912 |
Fundamentals
Market Cap₹ 96.6 Cr.
Current Price₹ 4.95
Stock P/E39.7
Book Value₹ 2.60
ROCE10.3 %
ROE6.86 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)8%
Compounded Profit Growth (TTM)-1%
Consolidated figures.
Valuation
Market capRs 94 Cr
Enterprise valueRs 124 Cr
P/E (TTM)38.76x
Price to book2.02x
Price to sales0.75x
EV / EBITDA14.62x
EV / EBIT15.79x
EV / sales0.98x
Earnings yield2.58%
P/E, 3-year average313.36x
P/B, 3-year average9.67x
P/E, 5-year average339.40x
P/B, 5-year average9.16x
Profitability
Operating margin (excl. other income)-0.75%
Operating margin (incl. other income)5.17%
EBITDA margin6.72%
Pre-tax margin2.93%
Net profit margin1.93%
Net margin, latest quarter4.11%
ROE1.54%
ROCE7.06%
ROA0.69%
ROE, 3-year average3.95%
ROCE, 3-year average8.35%
ROA, 3-year average1.74%
ROE, 5-year average4.07%
ROCE, 5-year average8.09%
ROA, 5-year average1.70%
ROIC (approx.)7.27%
Tax rate29.29%
Other income / net worth13.80%
Growth
Sales growth (latest year)-4.16%
Profit growth (latest year)-42.99%
Sales CAGR, 3 years12.29%
Sales CAGR, 5 years12.24%
Profit CAGR, 3 years9.08%
Profit CAGR, 5 years0.67%
Sales growth QoQ-42.42%
Profit growth QoQ2525.00%
Sales growth YoY (latest quarter)-20.34%
Profit growth YoY (latest quarter)-46.15%
Per share
EPS (TTM)Rs 0.12
EPS (latest year)Rs 0.03
EPS (latest quarter)Rs 0.05
EPS, 3-year averageRs 0.06
EPS, 5-year averageRs 0.16
Book value per shareRs 2.39
Sales per shareRs 6.48
Cash flow per shareRs -0.87
Free cash flow per shareRs -0.21
Dividend per share, 5-year averageRs 0.15
Dividends
Dividend payout, 5-year average26.04%
Efficiency
Asset turnover1.10x
Fixed asset turnover8.46x
Inventory turnover5.36x
Inventory days68 days
Debtor days88 days
Debtors turnover4.16x
Creditor days65 days
Cash conversion cycle96 days
Working capital days114 days
Leverage
Total debtRs 31 Cr
Cash and bankRs 1 Cr
Net debtRs 30 Cr
Debt to equity0.66x
Net debt / EBITDA3.51x
Interest coverage1.89x
Owners' fund to total sources47.28%
Debt to assets31.22%
Cash flow
Cash from Operating Activity (latest year)Rs -17 Cr
Cash from Investing Activity (latest year)Rs -1 Cr
Cash from Financing Activity (latest year)Rs 18 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -4 Cr
FCFE (approx.: FCF + change in debt)Rs -0 Cr
Cash from ops / profit, 5 years-5.86x
Statement figures
Net sales (TTM)Rs 126 Cr
Net sales (latest year)Rs 109 Cr
Sales (latest quarter)Rs 26 Cr
Operating profit excl. other income (latest year)Rs -1 Cr
Operating profit (latest quarter)Rs 2 Cr
Other income (TTM)Rs 3 Cr
EBITDA (TTM)Rs 8 Cr
PBDT (TTM)Rs 4 Cr
Profit before tax (TTM)Rs 4 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 2 Cr
Net profit (latest year)Rs 1 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 4 Cr
Cost of goods sold (latest year)Rs 100 Cr
Total expenditure (latest year)Rs 109 Cr
Total income (latest year)Rs 115 Cr
Share capitalRs 19 Cr
ReservesRs 27 Cr
Shareholders' fundsRs 47 Cr
Total assetsRs 99 Cr
Net blockRs 13 Cr
Capital work in progressRs 2 Cr
InvestmentsRs 0 Cr
ReceivablesRs 26 Cr
InventoryRs 19 Cr
Other liabilitiesRs 21 Cr
Shares outstanding (crore)19.46
Ownership
Promoter holding27.76% (-0.26 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 38.8 is at the 13th percentile of its own 4.6-year range
(median 115.1, low 19.3, high 395.2).
P/B 2.02 is at the 12th percentile (median 7.63).
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 | 540570 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -5.1% | -2.8% | -2.3 pts |
| 1 month | +19.8% | -6.8% | +26.6 pts |
| 3 months | +24.1% | -7.6% | +31.7 pts |
| 3 years | -65.6% | +14.2% | -79.8 pts |
| 5 years | +24.1% | +27.9% | -3.8 pts |
Red flags
F-score 3 of 8| explain | Weak cash conversion Cash from operations was -918% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 18% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 31% vs sales -4% in 2026 |
| explain | Low interest cover Interest cover 1.3x in 2026 |
| look | Profit leans on other income Other income was 649% 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 ₹26 Cr -20.3% vs Jun 2025.
Net profit ₹1 Cr -45.7%.
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 Variman Global Enterprises Ltd?
Variman Global Enterprises Ltd (540570) has a market capitalisation of Rs 96.6 Cr. at the 2026-10-01 close.
What is the P/E ratio of Variman Global Enterprises Ltd?
Variman Global Enterprises Ltd trades at a P/E of 39.7 on trailing twelve-month profit, at the 2026-10-01 close.
What were Variman Global Enterprises Ltd's latest quarterly results?
In the Jun 2026 quarter, Variman Global Enterprises Ltd sales was Rs 26 Cr (-20.3% vs Jun 2025) and net profit was Rs 1 Cr.