Price
Financials
Standalone, Rs crore| Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|
| Sales | 22 | 49 | 33 | 116 |
| Expenses | 20 | 40 | 30 | 97 |
| Operating Profit | 2 | 9 | 3 | 19 |
| OPM % | 10% | 18% | 9% | 16% |
| Other Income | 0 | 0 | 1 | 1 |
| Interest | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 |
| Profit before tax | 2 | 9 | 3 | 19 |
| Tax % | 26% | 25% | 25% | 25% |
| Net Profit | 2 | 7 | 3 | 14 |
| EPS in Rs | 1.60 | 5.32 | 1.96 | 10.96 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 17 | 31 | 44 | 12 | 20 | 35 | 53 | 71 | 149 |
| Expenses | 16 | 29 | 39 | 13 | 20 | 30 | 44 | 60 | 127 |
| Operating Profit | 2 | 2 | 5 | -1 | -0 | 4 | 9 | 11 | 22 |
| OPM % | 9% | 6% | 12% | -10% | -1.6% | 12% | 17% | 16% | 15% |
| Other Income | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 |
| Interest | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 1 | 4 | -2 | -1 | 4 | 9 | 11 | 23 |
| Tax % | 31% | 30% | 31% | -1% | 27% | 15% | 26% | 25% | 25% |
| Net Profit | 0 | 1 | 3 | -2 | -1 | 4 | 7 | 9 | 17 |
| EPS in Rs | 4.60 | 7.99 | 29.23 | -18.06 | -7.22 | 38.53 | 68.45 | 6.49 | 12.91 |
| Dividend Payout % | 0% | 0% | 19% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 66% | 63% | 109% | ||
| Compounded Profit Growth | % | 65% | 69% | 99% | ||
| Stock Price CAGR | % | % | % | 91% | ||
| Return on Equity | % | 33% | 33% | 31% |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.91 | 0.91 | 0.91 | 0.91 | 0.91 | 0.91 | 0.97 | 13 | 13 |
| Reserves | 2 | 3 | 5 | 3 | 3 | 6 | 14 | 33 | 50 |
| Borrowings | 4 | 6 | 1 | 4 | 1 | 1 | 0 | 0 | 1 |
| Other Liabilities | 9 | 9 | 11 | 5 | 5 | 10 | 10 | 13 | 25 |
| Total Liabilities | 17 | 19 | 19 | 14 | 10 | 18 | 26 | 60 | 89 |
| Fixed Assets | 3 | 4 | 4 | 4 | 2 | 1 | 1 | 1 | 2 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 13 | 15 | 15 | 9 | 8 | 16 | 24 | 59 | 86 |
| Total Assets | 17 | 19 | 19 | 14 | 10 | 18 | 26 | 60 | 89 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 5 | -1 | -0 | 3 | 7 | -5 | 7 | ||
| Cash from Investing Activity | 0 | -1 | 3 | 0 | -0 | -8 | -15 | ||
| Cash from Financing Activity | -6 | 2 | -3 | -1 | 1 | 23 | 1 | ||
| Net Cash Flow | -1 | 0 | -0 | 2 | 7 | 9 | -7 | ||
| Free Cash Flow | 5 | -2 | 3 | 3 | 7 | -5 | 5 | ||
| CFO/OP | 118% | 81% | 22% | 75% | 101% | -20% | 58% |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 102 | 62 | 68 | 138 | 65 | 74 | 60 | 60 | 41 |
| Inventory Days | 168 | 70 | 32 | 147 | 52 | 54 | 18 | 18 | 14 |
| Days Payable | 165 | 75 | 113 | 202 | 58 | 43 | 38 | 26 | 22 |
| Cash Conversion Cycle | 105 | 57 | -13 | 83 | 60 | 86 | 40 | 51 | 34 |
| Working Capital Days | 67 | 58 | 23 | 17 | 57 | 45 | 26 | 89 | 65 |
| ROCE % | 23% | 57% | -16% | -8% | 69% | 79% | 38% | 41% |
| Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|
| Promoters | 69.29% | 69.29% | 69.29% |
| FIIs | 0.01% | 0.00% | 0.00% |
| DIIs | 6.08% | 6.52% | 8.39% |
| Public | 24.62% | 24.19% | 22.33% |
| No. of Shareholders | 779 | 714 | 658 |
Fundamentals
Market Cap₹ 348 Cr.
Current Price₹ 264
Stock P/E20.4
Book Value₹ 48.0
ROCE41.4 %
ROE31.1 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)109%
Compounded Profit Growth (TTM)99%
Standalone figures.
Valuation
Market capRs 337 Cr
Enterprise valueRs 310 Cr
P/E (TTM)39.42x
Price to book7.30x
Price to sales4.76x
EV / EBITDA26.29x
EV / EBIT26.79x
EV / sales4.36x
Earnings yield2.54%
P/E, 3-year average12.14x
P/B, 3-year average2.25x
P/E, 5-year average12.14x
P/B, 5-year average2.25x
Profitability
Operating margin (excl. other income)15.73%
Operating margin (incl. other income)16.60%
EBITDA margin16.60%
Pre-tax margin16.04%
Net profit margin12.06%
ROE28.07%
ROCE37.54%
ROA20.08%
ROE, 3-year average50.98%
ROCE, 3-year average61.95%
ROA, 3-year average25.46%
ROE, 5-year average20.95%
ROCE, 5-year average33.57%
ROA, 5-year average12.11%
ROIC (approx.)47.08%
Tax rate24.78%
Other income / net worth1.34%
Growth
Sales growth (latest year)33.69%
Profit growth (latest year)29.11%
Sales CAGR, 3 years53.79%
Sales CAGR, 5 years9.80%
Profit CAGR, 5 years26.24%
Per share
EPS (TTM)Rs 6.49
EPS (latest year)Rs 6.49
EPS, 3-year averageRs 37.82
EPS, 5-year averageRs 17.64
Book value per shareRs 35.07
Sales per shareRs 53.82
Cash flow per shareRs -3.97
Free cash flow per shareRs 3.79
Efficiency
Asset turnover1.19x
Fixed asset turnover60.14x
Inventory turnover20.51x
Inventory days18 days
Debtor days60 days
Debtors turnover6.13x
Creditor days22 days
Cash conversion cycle34 days
Working capital days65 days
Leverage
Total debtRs 0 Cr
Cash and bankRs 28 Cr
Net debtRs -28 Cr
Debt to equity0.00x
Net debt / EBITDA-2.36x
Interest coverage64.22x
Owners' fund to total sources77.47%
Debt to assets0.30%
Cash flow
Cash from Operating Activity (latest year)Rs -5 Cr
Cash from Investing Activity (latest year)Rs -8 Cr
Cash from Financing Activity (latest year)Rs 23 Cr
Net Cash Flow (latest year)Rs 9 Cr
Free cash flow (latest year)Rs 5 Cr
FCFE (approx.: FCF + change in debt)Rs 5 Cr
Cash from ops / profit, 5 years0.33x
Statement figures
Net sales (TTM)Rs 71 Cr
Net sales (latest year)Rs 71 Cr
Operating profit excl. other income (latest year)Rs 11 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 12 Cr
PBDT (TTM)Rs 12 Cr
Profit before tax (TTM)Rs 11 Cr
Tax (latest year)Rs 3 Cr
Net profit (TTM)Rs 9 Cr
Net profit (latest year)Rs 9 Cr
Depreciation (TTM)Rs 0 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 49 Cr
Total expenditure (latest year)Rs 60 Cr
Total income (latest year)Rs 72 Cr
Share capitalRs 13 Cr
ReservesRs 33 Cr
Shareholders' fundsRs 46 Cr
Total assetsRs 60 Cr
Net blockRs 1 Cr
ReceivablesRs 12 Cr
InventoryRs 2 Cr
Other liabilitiesRs 13 Cr
Shares outstanding (crore)1.32
Ownership
Promoter holding69.29%
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | APEXECO | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +0.2% | -2.8% | +3.0 pts |
| 1 month | +2.8% | -6.8% | +9.6 pts |
| 3 months | +2.0% | -7.6% | +9.6 pts |
| 6 months | +144.7% | +0.4% | +144.3 pts |
| 1 year | +85.5% | -9.9% | +95.4 pts |
Red flags
F-score 2 of 8| explain | Weak cash conversion Cash from operations was 22% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 23% of total assets in 2026 |
| explain | Share dilution Share count up 1220% in a year, 1367% in three |
| 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
No quarterly results published.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Va Tech Wabag Ltd | 13,084 | 32.8 | 21.3 % |
| Ion Exchange (India) Ltd | 6,016 | 54.7 | 14.2 % |
| Enviro Infra Engineers Ltd | 3,361 | 18.3 | 20.2 % |
| Technocraft Ventures Ltd | 1,904 | 42.6 | % |
| JITF Infra Logistics Ltd | 713 | 15.4 % | |
| Denta Water & Infra Solutions Ltd | 711 | 13.3 | 18.8 % |
| Felix Industries Ltd | 345 | 17.1 | 19.3 % |
| Sattva Engineering Construction Ltd | 94 | 7.28 | 22.8 % |
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.
ESM: stage 1Less than 100 unique PAN traded in previous 30 daysSME scrip is not regularly traded