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 | 63 | 94 | 137 | 128 | 115 | 116 | 116 | 114 | 105 | 91 | 99 | 165 |
| Expenses | 104 | 134 | 170 | 79 | 73 | 83 | 69 | 59 | 87 | 50 | 58 | 42 |
| Operating Profit | -40 | -39 | -33 | 50 | 42 | 33 | 47 | 55 | 18 | 42 | 41 | 123 |
| OPM % | -63% | -42% | -24% | 39% | 37% | 28% | 41% | 48% | 17% | 46% | 42% | 74% |
| Other Income | 12 | 12 | 10 | 25 | 158 | 4 | 5 | 2 | 3 | 8 | 9 | 13 |
| Interest | 265 | 274 | 277 | 273 | 277 | 279 | 280 | 280 | 289 | 3 | 0 | 0 |
| Depreciation | 23 | 22 | 31 | 33 | 33 | 27 | 25 | 24 | 25 | 25 | 44 | 45 |
| Profit before tax | -316 | -324 | -330 | -231 | -110 | -270 | -253 | -246 | -293 | 22 | 7 | 91 |
| Tax % | 0% | 1% | 3% | 3% | 5% | 2% | 3% | 3% | 5% | -36% | 85% | 8% |
| Net Profit | -318 | -327 | -340 | -238 | -115 | -277 | -260 | -253 | -307 | 30 | 2 | 84 |
| EPS in Rs | -54.43 | -55.99 | -58.28 | -40.72 | -19.76 | -47.38 | -44.52 | -43.32 | -52.68 | 5.06 | 0.31 | 14.34 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,335 | 1,758 | 1,467 | 848 | 974 | 1,069 | 598 | 397 | 400 | 476 | 410 | 460 |
| Expenses | 1,443 | 851 | 2,053 | 4,369 | 8,340 | 2,018 | 1,580 | 528 | 556 | 304 | 254 | 236 |
| Operating Profit | 1,892 | 907 | -586 | -3,520 | -7,365 | -949 | -982 | -131 | -156 | 172 | 156 | 224 |
| OPM % | 57% | 52% | -40% | -415% | -756% | -89% | -164% | -33% | -39% | 36% | 38% | 49% |
| Other Income | 21 | 15 | 14 | 113 | 13 | 257 | 69 | 225 | 48 | 192 | 23 | 34 |
| Interest | 1,038 | 1,090 | 1,282 | 1,137 | 1,203 | 1,106 | 1,097 | 1,110 | 1,092 | 1,110 | 572 | 292 |
| Depreciation | 902 | 701 | 665 | 675 | 845 | 195 | 145 | 47 | 97 | 118 | 118 | 140 |
| Profit before tax | -27 | -870 | -2,518 | -5,220 | -9,401 | -1,992 | -2,154 | -1,063 | -1,297 | -865 | -511 | -174 |
| Tax % | 806% | 20% | 4% | 1% | -5% | -1% | 1% | 3% | 2% | 3% | 4% | |
| Net Profit | -241 | -1,041 | -2,606 | -5,273 | -8,973 | -1,973 | -2,177 | -1,091 | -1,318 | -889 | -529 | -192 |
| EPS in Rs | -41.30 | -178.33 | -446.58 | -903.52 | -1,537.32 | -337.96 | -373.01 | -186.88 | -225.79 | -152.38 | -90.62 | -32.97 |
| 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% | -17% | 1% | 0% | ||
| Compounded Profit Growth | % | 12% | 16% | 79% | ||
| Stock Price CAGR | -23% | -20% | -34% | -67% | ||
| Return on Equity | % | % | % | % |
| 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 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 5,408 | 3,682 | 2,624 | 7 | -5,320 | -15,332 | -16,834 | -19,524 | -22,308 | -23,884 | -25,414 | -28,252 |
| Borrowings | 14,341 | 14,716 | 14,005 | 13,740 | 14,351 | 15,688 | 15,185 | 15,249 | 15,135 | 15,308 | 15,697 | 17,084 |
| Other Liabilities | 1,212 | 1,820 | 2,087 | 3,179 | 4,615 | 5,643 | 6,257 | 7,232 | 8,889 | 10,079 | 11,238 | 12,912 |
| Total Liabilities | 20,973 | 20,229 | 18,728 | 16,938 | 13,657 | 6,011 | 4,619 | 2,968 | 1,727 | 1,515 | 1,533 | 1,756 |
| Fixed Assets | 18,363 | 17,197 | 16,203 | 14,369 | 11,262 | 4,052 | 3,191 | 704 | 693 | 682 | 663 | 822 |
| CWIP | 19 | 0 | 9 | 0 | 6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 13 | 16 | 27 | 27 | 26 | 23 | 23 | 23 | 23 | 22 | 22 | 22 |
| Other Assets | 2,578 | 3,016 | 2,488 | 2,542 | 2,363 | 1,935 | 1,405 | 2,241 | 1,010 | 811 | 848 | 912 |
| Total Assets | 20,973 | 20,229 | 18,728 | 16,938 | 13,657 | 6,011 | 4,619 | 2,968 | 1,727 | 1,515 | 1,533 | 1,756 |
| 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 | -664 | 1,299 | 1,802 | 396 | 978 | -976 | 679 | -434 | 130 | -72 | 139 | 16 |
| Cash from Investing Activity | -921 | -845 | 257 | -68 | -1,590 | -636 | 11 | 206 | 1,400 | -11 | 19 | -122 |
| Cash from Financing Activity | 1,559 | -452 | -2,102 | -319 | 656 | 1,635 | -620 | 253 | -1,470 | -22 | -9 | -35 |
| Net Cash Flow | -26 | 3 | -43 | 9 | 44 | 23 | 70 | 26 | 61 | -105 | 148 | -141 |
| Free Cash Flow | -1,599 | 1,216 | 1,755 | 278 | -618 | -1,612 | 685 | -232 | 1,526 | -89 | 155 | -106 |
| CFO/OP | -18% | 75% | 225% | -87% | -31% | 13% | -72% | 44% | -97% | 46% | 83% | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 144 | 254 | 385 | 466 | 479 | 411 | 184 | 255 | 301 | 127 | 62 | 88 |
| Inventory Days | 1,098 | |||||||||||
| Days Payable | 2,175 | |||||||||||
| Cash Conversion Cycle | 144 | 254 | 385 | 466 | 479 | 411 | 184 | 255 | 301 | 127 | 62 | -989 |
| Working Capital Days | 2 | -7 | -314 | -3,495 | -7,007 | -7,320 | -6,906 | -13,215 | -21,480 | -22,707 | -20,379 | -26,267 |
| ROCE % | 9% | 5% | 1% | -8% | -36% | -174% |
| 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 | 46.00% | 46.00% | 46.00% | 46.00% | 46.00% | 46.00% | 46.00% | 46.00% | 46.00% | 46.00% | 46.00% | 46.00% |
| FIIs | 0.08% | 0.09% | 0.43% | 0.08% | 0.12% | 0.13% | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| DIIs | 1.86% | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% | 0.96% | 0.26% | 0.06% | 0.06% | 0.06% | 0.06% |
| Public | 52.06% | 52.20% | 51.87% | 52.21% | 52.18% | 52.16% | 52.92% | 53.74% | 53.92% | 53.94% | 53.94% | 53.94% |
| No. of Shareholders | 1,04,222 | 1,02,027 | 1,01,568 | 98,359 | 95,600 | 94,999 | 94,631 | 94,335 | 93,386 | 92,706 | 93,481 | 93,148 |
Fundamentals
Market Cap₹ 83.5 Cr.
Current Price₹ 14.3
Book Value₹ -4,839
ROCE%
ROE%
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)0%
Compounded Profit Growth (TTM)79%
Consolidated figures.
Valuation
Market capRs 90 Cr
Enterprise valueRs 17,106 Cr
Price to book-0.00x
Price to sales0.19x
EV / EBITDA31.81x
EV / EBIT42.97x
EV / sales37.15x
Price to cash flow5.67x
Earnings yield-214.57%
P/B, 3-year average-0.01x
P/B, 5-year average-0.01x
Profitability
Operating margin (excl. other income)38.08%
Operating margin (incl. other income)43.72%
EBITDA margin116.77%
Pre-tax margin-37.75%
Net profit margin-41.78%
Net margin, latest quarter50.66%
ROE1.97%
ROA-32.17%
ROE, 3-year average3.76%
ROA, 3-year average-57.28%
ROE, 5-year average5.70%
ROA, 5-year average-55.13%
Tax rate-3.61%
Other income / net worth-0.08%
Growth
Sales growth (latest year)-13.88%
Sales CAGR, 3 years1.07%
Sales CAGR, 5 years-17.46%
Sales growth QoQ66.73%
Profit growth QoQ4551.11%
Sales growth YoY (latest quarter)44.43%
Per share
EPS (TTM)Rs -32.96
EPS (latest quarter)Rs 14.34
EPS, 3-year averageRs -189.07
EPS, 5-year averageRs -234.50
Book value per shareRs -4,838.66
Sales per shareRs 78.89
Cash flow per shareRs 2.71
Free cash flow per shareRs -18.16
Efficiency
Asset turnover0.23x
Fixed asset turnover0.50x
Inventory turnover0.33x
Inventory days1098 days
Debtor days88 days
Debtors turnover4.16x
Creditor days2175 days
Cash conversion cycle-989 days
Working capital days-26267 days
Leverage
Total debtRs 17,084 Cr
Cash and bankRs 68 Cr
Net debtRs 17,016 Cr
Debt to equity-0.60x
Net debt / EBITDA31.65x
Interest coverage0.70x
Owners' fund to total sources-1608.66%
Debt to assets973.15%
Cash flow
Cash from Operating Activity (latest year)Rs 16 Cr
Cash from Investing Activity (latest year)Rs -122 Cr
Cash from Financing Activity (latest year)Rs -35 Cr
Net Cash Flow (latest year)Rs -141 Cr
Free cash flow (latest year)Rs -106 Cr
FCFE (approx.: FCF + change in debt)Rs 1,281 Cr
Sales to cash flow25.89x
Statement figures
Net sales (TTM)Rs 460 Cr
Net sales (latest year)Rs 410 Cr
Sales (latest quarter)Rs 165 Cr
Operating profit excl. other income (latest year)Rs 156 Cr
Operating profit (latest quarter)Rs 123 Cr
Other income (TTM)Rs 34 Cr
EBITDA (TTM)Rs 538 Cr
PBDT (TTM)Rs -34 Cr
Profit before tax (TTM)Rs -174 Cr
Tax (latest year)Rs 18 Cr
Net profit (TTM)Rs -192 Cr
Net profit (latest year)Rs -529 Cr
Net profit (latest quarter)Rs 84 Cr
Depreciation (TTM)Rs 140 Cr
Depreciation (latest quarter)Rs 45 Cr
Interest (TTM)Rs 572 Cr
Cost of goods sold (latest year)Rs 44 Cr
Total expenditure (latest year)Rs 254 Cr
Total income (latest year)Rs 433 Cr
Share capitalRs 12 Cr
ReservesRs -28,252 Cr
Shareholders' fundsRs -28,241 Cr
Total assetsRs 1,756 Cr
Net blockRs 822 Cr
InvestmentsRs 22 Cr
ReceivablesRs 98 Cr
InventoryRs 132 Cr
Other liabilitiesRs 12,912 Cr
Shares outstanding (crore)5.84
Ownership
Promoter holding46.00% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | ABAN | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +10.1% | -2.8% | +12.9 pts |
| 1 month | +5.6% | -6.8% | +12.4 pts |
| 3 months | +5.8% | -7.6% | +13.4 pts |
| 6 months | -16.2% | +0.4% | -16.7 pts |
| 1 year | -70.3% | -9.9% | -60.4 pts |
| 2 years | -77.6% | -13.6% | -64.1 pts |
| 3 years | -68.2% | +14.2% | -82.4 pts |
| 5 years | -63.7% | +27.9% | -91.6 pts |
Red flags
F-score 6 of 8| serious | Negative equity Shareholders' equity is negative |
| explain | Receivables outrunning sales Receivables grew 22% vs sales -14% in 2026 |
| look | Repeated losses Net loss in each of the last two years |
| look | On NSE surveillance On NSE surveillance: Insolvency |
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 ₹165 Cr +44.7% vs Jun 2025.
Net profit ₹84 Cr +133.2%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Dolphin Offshore Enterprises (India) Ltd | 2,605 | 36.2 | 14.9 % |
| Jindal Drilling & Industries Ltd | 1,737 | 8.92 | 13.7 % |
| Alphageo (India) Ltd | 163 | -7.20 % | |
| Aakash Exploration Services Ltd | 87 | 25.0 | 7.63 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2019-08-29 | Annual General Meeting | |
| 2018-09-12 | Annual General Meeting | |
| 2017-08-31 | Annual General Meeting | |
| 2016-09-21 | Annual General Meeting | |
| 2015-09-14 | Annaul General Meeting/ Dividend - Rs 3.60 Per Share | |
| 2014-09-10 | Annual General Meeting And Dividend Rs.3.60 Per Share | |
| 2013-09-11 | Annual General Meeting And Dividend Rs.3.60 Per Share | |
| 2012-09-12 | Dividend - Rs.3.60 Per Share | |
| 2011-09-19 | Annual General Meeting / Dividend - Rs.3.60 Per Share | |
| 2010-09-15 | Annual General Meeting And Dividend Rs.3.60 Per Share | |
| 2009-09-08 | Agm/Div-Rs.3.60 Per Share | |
| 2008-09-08 | Dividend - 180% | |
| 2007-08-08 | Dividend-150% | |
| 2006-07-06 | Agm/Dividend-130% Purpose Revised |
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.
| Order date | Forum | Case |
|---|---|---|
| 2020-01-29 | NCLAT | Bank of Baroda VS Aban Offshore Ltd. |
| 2020-01-09 | NCLAT | Bank of Baroda VS Aban Offshore Ltd. |
| 2019-12-11 | NCLAT | Bank of Baroda VS Aban Offshore Ltd. |
| 2019-12-03 | NCLAT | Bank of Baroda VS Aban Offshore Ltd. |
| 2019-11-22 | NCLAT | Bank of Baroda VS Aban Offshore Ltd. |
| 2019-11-07 | NCLAT | Bank of Baroda VS Aban Offshore Ltd. |
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
EPS in the scrip is zero (4 trailing quarters)Insolvency Resolution Process(IRP)