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 | 8.83 | 9.21 | 18.56 | 12.08 | 13.17 | 3.55 | 24.75 | 13.71 | 13.13 | 16.64 | 25.04 | 10.70 |
| Expenses | 9.66 | 9.17 | 17.97 | 11.95 | 12.71 | 3.56 | 24.35 | 13.49 | 13.23 | 16.31 | 24.96 | 10.59 |
| Operating Profit | -0.83 | 0.04 | 0.59 | 0.13 | 0.46 | -0.01 | 0.40 | 0.22 | -0.10 | 0.33 | 0.08 | 0.11 |
| OPM % | -9.40% | 0.43% | 3.18% | 1.08% | 3.49% | -0.28% | 1.62% | 1.60% | -0.76% | 1.98% | 0.32% | 1.03% |
| Other Income | 1.47 | 0.98 | -0.91 | 1.03 | 0.81 | 1.28 | -1.01 | 0.46 | 1.04 | 0.07 | -0.02 | 0.23 |
| Interest | 0.46 | 0.49 | 0.57 | 0.52 | 0.63 | 0.59 | 0.38 | 0.31 | 0.16 | 0.36 | 0.29 | 0.18 |
| Depreciation | 0.03 | 0.03 | 0.15 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.07 |
| Profit before tax | 0.15 | 0.50 | -1.04 | 0.56 | 0.56 | 0.60 | -1.07 | 0.29 | 0.70 | -0.04 | -0.31 | 0.09 |
| Tax % | 6.67% | 0.00% | 2.88% | 1.79% | 8.93% | 1.67% | 7.48% | 3.45% | -1.43% | 50.00% | 16.13% | 55.56% |
| Net Profit | 0.14 | 0.49 | -1.08 | 0.54 | 0.51 | 0.59 | -1.15 | 0.28 | 0.71 | -0.06 | -0.36 | 0.04 |
| EPS in Rs | 0.07 | 0.24 | -0.54 | 0.27 | 0.26 | 0.30 | -0.46 | 0.11 | 0.28 | -0.02 | -0.14 | 0.02 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 29.45 | 20.12 | 10.59 | 152.83 | 236.35 | 118.06 | 81.55 | 34.03 | 41.88 | 53.55 | 68.52 | 65.51 |
| Expenses | 29.90 | 19.75 | 10.89 | 150.05 | 228.70 | 116.21 | 78.09 | 35.50 | 41.98 | 52.56 | 68.00 | 65.09 |
| Operating Profit | -0.45 | 0.37 | -0.30 | 2.78 | 7.65 | 1.85 | 3.46 | -1.47 | -0.10 | 0.99 | 0.52 | 0.42 |
| OPM % | -1.53% | 1.84% | -2.83% | 1.82% | 3.24% | 1.57% | 4.24% | -4.32% | -0.24% | 1.85% | 0.76% | 0.64% |
| Other Income | 2.99 | 1.56 | 2.05 | 1.32 | 1.78 | 5.80 | 3.15 | 5.83 | 2.57 | 2.11 | 1.55 | 1.32 |
| Interest | 0.64 | 0.57 | 0.57 | 2.17 | 5.77 | 3.47 | 3.33 | 2.78 | 2.09 | 2.12 | 1.12 | 0.99 |
| Depreciation | 0.21 | 0.16 | 0.13 | 0.13 | 0.19 | 0.17 | 0.14 | 0.15 | 0.24 | 0.33 | 0.31 | 0.31 |
| Profit before tax | 1.69 | 1.20 | 1.05 | 1.80 | 3.47 | 4.01 | 3.14 | 1.43 | 0.14 | 0.65 | 0.64 | 0.44 |
| Tax % | 3.55% | -4.17% | 12.38% | 30.00% | 20.17% | 8.73% | 8.60% | 0.70% | 28.57% | 23.08% | 10.94% | |
| Net Profit | 1.63 | 1.26 | 0.92 | 1.27 | 2.77 | 3.67 | 2.87 | 1.42 | 0.10 | 0.50 | 0.57 | 0.33 |
| EPS in Rs | 0.82 | 0.63 | 0.46 | 0.64 | 1.38 | 1.84 | 1.44 | 0.71 | 0.05 | 0.20 | 0.23 | 0.14 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 9% | -10% | 26% | 19% | ||
| Compounded Profit Growth | % | % | % | 43% | ||
| Stock Price CAGR | -1% | -8% | -12% | -21% | ||
| Return on Equity | 3% | 1% | -1% | 0% |
| 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 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 20.00 | 20.00 | 20.00 | 24.94 | 24.94 |
| Reserves | 21.17 | 22.54 | 23.56 | 24.26 | 25.26 | 27.84 | 31.34 | 39.05 | 40.32 | 40.28 | 45.09 | 45.54 |
| Borrowings | 5.44 | 1.65 | 6.85 | 7.71 | 42.11 | 30.49 | 32.08 | 37.40 | 25.50 | 24.12 | 17.83 | 13.50 |
| Other Liabilities | 4.46 | 2.39 | 1.86 | 3.52 | 15.07 | 17.15 | 8.77 | 19.53 | 5.12 | 9.53 | 13.63 | 8.37 |
| Total Liabilities | 41.07 | 36.58 | 42.27 | 45.49 | 92.44 | 85.48 | 82.19 | 115.98 | 90.94 | 93.93 | 101.49 | 92.35 |
| Fixed Assets | 12.00 | 11.19 | 10.80 | 10.52 | 10.30 | 10.13 | 9.79 | 9.61 | 9.31 | 14.07 | 13.64 | 13.60 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.22 | 0.22 | 0.22 | 3.79 |
| Investments | 12.49 | 14.04 | 16.31 | 18.17 | 18.53 | 19.68 | 22.66 | 25.99 | 28.28 | 28.16 | 28.60 | 29.31 |
| Other Assets | 16.58 | 11.35 | 15.16 | 16.79 | 63.61 | 55.67 | 49.74 | 80.38 | 53.13 | 51.48 | 59.03 | 45.65 |
| Total Assets | 41.07 | 36.58 | 42.27 | 45.49 | 92.44 | 85.48 | 82.19 | 115.98 | 90.94 | 93.93 | 101.49 | 92.35 |
| 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 | -0.89 | 2.83 | -9.51 | -3.25 | -50.12 | 31.78 | -2.96 | -8.81 | 2.58 | 5.28 | -3.73 | 12.94 |
| Cash from Investing Activity | -0.94 | 1.04 | 5.14 | 1.68 | 17.72 | -15.03 | 5.49 | -6.44 | 11.01 | -7.05 | 6.86 | -7.43 |
| Cash from Financing Activity | 0.22 | -3.73 | 4.63 | 0.28 | 32.24 | -16.08 | -1.87 | 17.01 | -14.66 | -0.12 | -3.20 | -5.45 |
| Net Cash Flow | -1.62 | 0.14 | 0.26 | -1.29 | -0.16 | 0.67 | 0.66 | 1.75 | -1.07 | -1.90 | -0.08 | 0.06 |
| Free Cash Flow | -1.05 | 4.11 | -9.52 | -3.32 | -50.24 | 31.55 | -2.97 | -8.95 | 2.34 | 0.20 | -3.77 | 9.00 |
| CFO/OP | -99% | -669% | -2,492% | 1,070% | -1,783% | 422% | -139% | -246% | -195% | -5,570% | -403% | 2,485% |
| 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 | 48.00 | 29.13 | 59.14 | 156.82 | 29.28 | 21.05 | 33.42 | 156.20 | 191.13 | 214.05 | 161.61 | 103.82 |
| Inventory Days | 119.09 | 55.65 | 53.62 | 148.09 | 94.22 | 12.60 | 31.90 | 45.13 | 57.19 | 16.18 | 111.66 | 35.27 |
| Days Payable | 51.43 | 22.26 | 23.09 | 90.95 | 36.72 | 21.55 | 25.78 | 86.95 | 5.50 | 75.36 | 90.36 | 37.45 |
| Cash Conversion Cycle | 115.66 | 62.51 | 89.67 | 213.97 | 86.78 | 12.10 | 39.55 | 114.38 | 242.82 | 154.87 | 182.91 | 101.64 |
| Working Capital Days | 63.71 | 67.67 | 144.58 | 284.00 | 29.35 | 15.95 | 40.50 | 119.95 | 247.55 | 173.96 | 187.71 | 120.65 |
| ROCE % | 5.10% | 3.93% | 4.77% | 3.88% | 6.65% | 12.68% | 10.51% | 7.62% | 4.22% | 1.49% | 2.69% | 1.22% |
| 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 | 67.01% | 67.01% | 66.90% | 66.90% | 66.90% | 66.90% | 59.42% | 59.42% | 59.42% | 59.42% | 59.42% | 59.42% |
| DIIs | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% |
| Public | 32.92% | 32.93% | 33.04% | 33.03% | 33.04% | 33.03% | 40.52% | 40.53% | 40.52% | 40.52% | 40.53% | 40.51% |
| No. of Shareholders | 17,460 | 17,462 | 17,690 | 17,826 | 17,777 | 17,907 | 17,847 | 17,884 | 17,827 | 17,767 | 17,668 | 17,623 |
Fundamentals
Market Cap₹ 23.2 Cr.
Current Price₹ 9.31
Stock P/E70.4
Book Value₹ 28.3
ROCE1.22 %
ROE-0.33 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)19%
Compounded Profit Growth (TTM)43%
Consolidated figures.
Valuation
Market capRs 22 Cr
Enterprise valueRs 35 Cr
P/E (TTM)67.65x
Price to book0.32x
Price to sales0.34x
EV / EBITDA20.39x
EV / EBIT24.81x
EV / sales0.54x
Price to cash flow1.73x
Earnings yield1.48%
P/E, 3-year average126.17x
P/B, 3-year average0.40x
P/E, 5-year average81.08x
P/B, 5-year average0.42x
Profitability
Operating margin (excl. other income)0.76%
Operating margin (incl. other income)3.02%
EBITDA margin2.66%
Pre-tax margin0.67%
Net profit margin0.50%
Net margin, latest quarter0.37%
ROE0.81%
ROCE2.05%
ROA0.59%
ROE, 3-year average0.58%
ROCE, 3-year average2.63%
ROA, 3-year average0.40%
ROE, 5-year average1.97%
ROCE, 5-year average4.02%
ROA, 5-year average1.10%
ROIC (approx.)1.52%
Tax rate10.94%
Other income / net worth2.20%
Growth
Sales growth (latest year)27.96%
Profit growth (latest year)14.00%
Sales CAGR, 3 years26.28%
Sales CAGR, 5 years-10.31%
Profit CAGR, 3 years-26.23%
Profit CAGR, 5 years-31.10%
Sales growth QoQ-57.27%
Sales growth YoY (latest quarter)-21.95%
Profit growth YoY (latest quarter)-85.71%
Per share
EPS (TTM)Rs 0.13
EPS (latest year)Rs 0.23
EPS (latest quarter)Rs 0.02
EPS, 3-year averageRs 0.16
EPS, 5-year averageRs 0.52
Book value per shareRs 28.26
Sales per shareRs 26.27
Cash flow per shareRs 5.19
Free cash flow per shareRs 3.61
Efficiency
Asset turnover0.74x
Fixed asset turnover5.04x
Inventory turnover10.37x
Inventory days35 days
Debtor days104 days
Debtors turnover3.52x
Creditor days37 days
Cash conversion cycle102 days
Working capital days121 days
Leverage
Total debtRs 14 Cr
Cash and bankRs 0 Cr
Net debtRs 13 Cr
Debt to equity0.19x
Net debt / EBITDA7.56x
Interest coverage1.44x
Owners' fund to total sources76.32%
Debt to assets14.62%
Cash flow
Cash from Operating Activity (latest year)Rs 13 Cr
Cash from Investing Activity (latest year)Rs -7 Cr
Cash from Financing Activity (latest year)Rs -5 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs 9 Cr
FCFE (approx.: FCF + change in debt)Rs 5 Cr
Cash from ops / profit, 5 years1.51x
Sales to cash flow5.30x
Statement figures
Net sales (TTM)Rs 66 Cr
Net sales (latest year)Rs 69 Cr
Sales (latest quarter)Rs 11 Cr
Operating profit excl. other income (latest year)Rs 1 Cr
Operating profit (latest quarter)Rs 0 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 2 Cr
PBDT (TTM)Rs 1 Cr
Profit before tax (TTM)Rs 0 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 0 Cr
Net profit (latest year)Rs 1 Cr
Net profit (latest quarter)Rs 0 Cr
Depreciation (TTM)Rs 0 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 65 Cr
Total expenditure (latest year)Rs 68 Cr
Total income (latest year)Rs 70 Cr
Share capitalRs 25 Cr
ReservesRs 46 Cr
Shareholders' fundsRs 70 Cr
Total assetsRs 92 Cr
Net blockRs 14 Cr
Capital work in progressRs 4 Cr
InvestmentsRs 29 Cr
ReceivablesRs 19 Cr
InventoryRs 6 Cr
Other liabilitiesRs 8 Cr
Shares outstanding (crore)2.49
Ownership
Promoter holding59.42% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 67.7 is at the 90th percentile of its own 8.9-year range
(median 18.9, low 4.6, high 397.3).
P/B 0.32 is at the 1th percentile (median 0.59).
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 | ASIANTNE | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.6% | -2.8% | +0.2 pts |
| 1 month | -12.0% | -6.8% | -5.2 pts |
| 3 years | -34.2% | +14.2% | -48.4 pts |
| 5 years | -36.9% | +27.9% | -64.8 pts |
Red flags
F-score 7 of 8| look | Profit leans on other income Other income was 242% of pre-tax profit in 2026 |
| look | On NSE surveillance On NSE surveillance: GSM |
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 ₹11 Cr -22.0% vs Jun 2025.
Net profit ₹0 Cr -85.7%.
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.
GSMLess than 100 unique PAN traded in previous 30 days