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 | 17.12 | 19.28 | 20.12 | 20.77 | 13.56 | 22.61 | 24.02 | 17.66 | 27.52 | 25.56 | 36.58 | 29.04 |
| Expenses | 16.50 | 18.86 | 19.48 | 20.27 | 13.93 | 22.07 | 24.84 | 18.33 | 27.06 | 27.25 | 37.99 | 29.07 |
| Operating Profit | 0.62 | 0.42 | 0.64 | 0.50 | -0.37 | 0.54 | -0.82 | -0.67 | 0.46 | -1.69 | -1.41 | -0.03 |
| OPM % | 3.62% | 2.18% | 3.18% | 2.41% | -2.73% | 2.39% | -3.41% | -3.79% | 1.67% | -6.61% | -3.85% | -0.10% |
| Other Income | 0.60 | 0.94 | 0.95 | 0.95 | 1.75 | 1.43 | 2.39 | 1.98 | 1.40 | 3.93 | 3.63 | 1.73 |
| Interest | 0.44 | 0.50 | 0.36 | 0.39 | 0.40 | 0.47 | 0.63 | 0.52 | 0.56 | 0.50 | 0.54 | 0.49 |
| Depreciation | 0.47 | 0.47 | 0.51 | 0.44 | 0.43 | 0.44 | 0.50 | 0.46 | 0.49 | 0.53 | 0.55 | 0.48 |
| Profit before tax | 0.31 | 0.39 | 0.72 | 0.62 | 0.55 | 1.06 | 0.44 | 0.33 | 0.81 | 1.21 | 1.13 | 0.73 |
| Tax % | -45.16% | 35.90% | 19.44% | 30.65% | 29.09% | 32.08% | 70.45% | 30.30% | 23.46% | 9.92% | 32.74% | 28.77% |
| Net Profit | 0.45 | 0.25 | 0.57 | 0.43 | 0.39 | 0.72 | 0.13 | 0.25 | 0.62 | 1.09 | 0.76 | 0.51 |
| EPS in Rs | 0.07 | 0.04 | 0.07 | 0.05 | 0.04 | 0.08 | 0.01 | 0.02 | 0.06 | 0.11 | 0.07 | 0.05 |
| Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 14 | 33 | 40 | 41 | 46 | 61 | 70 | 71 | 81 | 107 | 119 |
| Expenses | 14 | 33 | 39 | 40 | 45 | 59 | 67 | 69 | 81 | 111 | 121 |
| Operating Profit | -0 | 0 | 1 | 1 | 1 | 2 | 3 | 2 | -0 | -4 | -3 |
| OPM % | -1.9% | 1.0% | 2.4% | 2.2% | 2.2% | 3.8% | 4.1% | 3.3% | -0.2% | -3.8% | -2.2% |
| Other Income | 1 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 7 | 11 | 11 |
| Interest | 0 | 2 | 2 | 2 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 0 | -1 | 0 | 0 | 2 | 2 | 2 | 2 | 3 | 3 | 4 |
| Tax % | 50% | -7% | -55% | 45% | 31% | 6% | 27% | 27% | 37% | 28% | |
| Net Profit | 0 | -1 | 0 | 0 | 1 | 2 | 1 | 1 | 2 | 2 | 3 |
| EPS in Rs | 0.18 | -1.10 | 0.17 | 0.03 | 0.23 | 0.25 | 0.17 | 0.16 | 0.19 | 0.19 | 0.29 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 10% | % | 15% | 52% | ||
| Compounded Profit Growth | 27% | % | 18% | 126% | ||
| Stock Price CAGR | % | 21% | -16% | -31% | ||
| Return on Equity | % | 3% | 2% | 2% |
| Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.87 | 2 | 2 | 5 | 8 | 10 | 13 | 17 | 18 | 21 |
| Reserves | 2 | 1 | 1 | 1 | -0 | 4 | 2 | 43 | 47 | 80 |
| Borrowings | 8 | 21 | 22 | 21 | 16 | 29 | 30 | 18 | 22 | 27 |
| Other Liabilities | 5 | 15 | 15 | 13 | 13 | 17 | 19 | 26 | 27 | 33 |
| Total Liabilities | 16 | 38 | 40 | 40 | 37 | 60 | 63 | 104 | 114 | 160 |
| Fixed Assets | 5 | 9 | 10 | 9 | 8 | 14 | 12 | 13 | 12 | 14 |
| CWIP | 0 | 1 | 2 | 2 | 2 | 3 | 4 | 7 | 9 | 10 |
| Investments | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 1 | 1 | 2 |
| Other Assets | 10 | 28 | 28 | 29 | 27 | 42 | 46 | 83 | 93 | 135 |
| Total Assets | 16 | 38 | 40 | 40 | 37 | 60 | 63 | 104 | 114 | 160 |
| Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 1 | -1 | 3 | 1 | 2 | -18 | -3 | -16 | ||
| Cash from Investing Activity | -3 | -1 | 1 | -1 | -1 | -18 | -2 | -5 | ||
| Cash from Financing Activity | 1 | 1 | -4 | 0 | -1 | 36 | 5 | 23 | ||
| Net Cash Flow | -0 | -0 | -0 | 0 | 0 | 0 | 1 | 2 | ||
| Free Cash Flow | -1 | -2 | 2 | -0 | -0 | -23 | -5 | -21 | ||
| CFO/OP | 131% | -59% | 353% | 58% | 96% | -728% | 1,213% | 367% |
| Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 161 | 150 | 121 | 108 | 95 | 106 | 103 | 109 | 129 | 105 |
| Inventory Days | 102 | 128 | 120 | 136 | 108 | 132 | 129 | 179 | 170 | 210 |
| Days Payable | 155 | 185 | 153 | 136 | 111 | 124 | 118 | 136 | 125 | 102 |
| Cash Conversion Cycle | 108 | 92 | 88 | 107 | 92 | 114 | 114 | 151 | 173 | 214 |
| Working Capital Days | 128 | 118 | 98 | 126 | 102 | 30 | 31 | 130 | 146 | 218 |
| ROCE % | 7% | 7% | 11% | 8% | 6% | 5% | 4% |
| 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 | 68.64% | 68.64% | 53.57% | 54.24% | 54.72% | 54.72% | 54.72% | 53.92% | 53.92% | 53.92% | 53.92% | 53.92% |
| FIIs | 0.00% | 0.00% | 3.50% | 3.39% | 3.39% | 3.39% | 2.71% | 2.20% | 0.98% | 0.28% | 0.00% | 0.00% |
| Public | 31.36% | 31.36% | 42.93% | 42.37% | 41.89% | 41.90% | 42.58% | 43.87% | 45.10% | 45.80% | 46.08% | 46.08% |
| No. of Shareholders | 5,469 | 4,409 | 4,967 | 6,765 | 7,749 | 10,153 | 12,164 | 12,011 | 14,035 | 13,899 | 14,378 | 15,250 |
Fundamentals
Market Cap₹ 63.7 Cr.
Current Price₹ 6.17
Stock P/E21.0
Book Value₹ 9.72
ROCE4.49 %
ROE2.32 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)52%
Compounded Profit Growth (TTM)126%
Consolidated figures.
Valuation
Market capRs 64 Cr
Enterprise valueRs 86 Cr
P/E (TTM)21.33x
Price to book0.63x
Price to sales0.54x
EV / EBITDA10.69x
EV / EBIT14.36x
EV / sales0.72x
Earnings yield4.69%
P/E, 3-year average63.11x
P/B, 3-year average1.46x
P/E, 5-year average41.99x
P/B, 5-year average1.22x
Profitability
Operating margin (excl. other income)-3.84%
Operating margin (incl. other income)6.39%
EBITDA margin6.76%
Pre-tax margin3.27%
Net profit margin2.51%
Net margin, latest quarter1.76%
ROE2.33%
ROCE4.50%
ROA1.41%
ROE, 3-year average2.90%
ROCE, 3-year average5.36%
ROA, 3-year average1.53%
ROE, 5-year average6.43%
ROCE, 5-year average6.71%
ROA, 5-year average1.97%
ROIC (approx.)3.49%
Tax rate28.41%
Other income / net worth10.95%
Growth
Sales growth (latest year)32.52%
Profit growth (latest year)14.88%
Sales CAGR, 3 years15.17%
Sales CAGR, 5 years18.43%
Profit CAGR, 3 years18.49%
Profit CAGR, 5 years11.70%
Sales growth QoQ-20.61%
Profit growth QoQ-32.89%
Sales growth YoY (latest quarter)64.44%
Profit growth YoY (latest quarter)104.00%
Per share
EPS (TTM)Rs 0.29
EPS (latest year)Rs 0.19
EPS (latest quarter)Rs 0.05
EPS, 3-year averageRs 0.18
EPS, 5-year averageRs 0.60
Book value per shareRs 9.72
Sales per shareRs 11.50
Cash flow per shareRs -1.54
Free cash flow per shareRs -2.03
Efficiency
Asset turnover0.67x
Fixed asset turnover7.89x
Inventory turnover1.90x
Inventory days192 days
Debtor days105 days
Debtors turnover3.46x
Creditor days102 days
Cash conversion cycle214 days
Working capital days218 days
Leverage
Total debtRs 27 Cr
Cash and bankRs 5 Cr
Net debtRs 22 Cr
Debt to equity0.27x
Net debt / EBITDA2.76x
Interest coverage2.86x
Owners' fund to total sources62.64%
Debt to assets16.77%
Cash flow
Cash from Operating Activity (latest year)Rs -16 Cr
Cash from Investing Activity (latest year)Rs -5 Cr
Cash from Financing Activity (latest year)Rs 23 Cr
Net Cash Flow (latest year)Rs 2 Cr
Free cash flow (latest year)Rs -21 Cr
FCFE (approx.: FCF + change in debt)Rs -17 Cr
Cash from ops / profit, 5 years-4.25x
Statement figures
Net sales (TTM)Rs 119 Cr
Net sales (latest year)Rs 107 Cr
Sales (latest quarter)Rs 29 Cr
Operating profit excl. other income (latest year)Rs -4 Cr
Operating profit (latest quarter)Rs -0 Cr
Other income (TTM)Rs 11 Cr
EBITDA (TTM)Rs 8 Cr
PBDT (TTM)Rs 6 Cr
Profit before tax (TTM)Rs 4 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 3 Cr
Net profit (latest year)Rs 2 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 98 Cr
Total expenditure (latest year)Rs 111 Cr
Total income (latest year)Rs 118 Cr
Share capitalRs 21 Cr
ReservesRs 80 Cr
Shareholders' fundsRs 100 Cr
Total assetsRs 160 Cr
Net blockRs 14 Cr
Capital work in progressRs 10 Cr
InvestmentsRs 2 Cr
ReceivablesRs 31 Cr
InventoryRs 51 Cr
Other liabilitiesRs 33 Cr
Shares outstanding (crore)10.32
Ownership
Promoter holding53.92% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 21.3 is at the 31th percentile of its own 6.8-year range
(median 47.3, low 10.2, high 259.8).
P/B 0.63 is at the 5th percentile (median 2.89).
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 | AKI | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -10.1% | -2.8% | -7.3 pts |
| 1 month | +34.8% | -6.8% | +41.6 pts |
| 3 months | +26.2% | -7.6% | +33.8 pts |
| 6 months | +57.1% | +0.4% | +56.7 pts |
| 1 year | -37.3% | -9.9% | -27.4 pts |
| 2 years | -71.9% | -13.6% | -58.3 pts |
| 3 years | -41.9% | +14.2% | -56.1 pts |
| 5 years | +150.4% | +27.9% | +122.5 pts |
Red flags
F-score 2 of 8| explain | Weak cash conversion Cash from operations was -727% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 11% of total assets in 2026 |
| look | Inventory outrunning sales Inventory grew 69% vs sales +33% in 2026 |
| look | Share dilution Share count up 17% in a year |
| look | Profit leans on other income Other income was 405% of pre-tax profit in 2026 |
| look | On NSE surveillance On NSE surveillance: ESM |
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 ₹29 Cr +64.4% vs Jun 2025.
Net profit ₹1 Cr +104.0%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Mayur Uniquoters Ltd | 3,160 | 15.3 | 24.5 % |
| Kothari Industrial Corporation Ltd | 1,631 | -28.9 % | |
| Bhartiya International Ltd | 1,344 | 52.5 | 9.53 % |
| Mirza International Ltd | 389 | -1.87 % | |
| Superhouse Ltd | 176 | 22.6 | 3.84 % |
| Zenith Exports Ltd | 105 | 361 | 4.97 % |
| Anka India Ltd | 96 | 0.42 % | |
| Super Tannery Ltd | 96 | 13.7 | 8.23 % |
| Aritas Vinyl Ltd | 26 | 5.53 | 11.6 % |
| Amin Tannery Ltd | 21 | 89.1 | 5.28 % |
| Welterman International Ltd | 10 | % | |
| NB Footwear Ltd | 5 | % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2024-09-20 | Annual General Meeting | |
| 2023-09-22 | Annual General Meeting | |
| 2023-06-22 | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share | 0.2000 |
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.
ESM: stage 1