Price
Financials
Consolidated, Rs crore| Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 159.00 | 152.08 | 179.89 | 179.33 | 184.04 | 191.35 | 256.64 |
| Expenses | 136.04 | 124.55 | 162.05 | 160.68 | 159.06 | 159.95 | 216.34 |
| Operating Profit | 22.96 | 27.53 | 17.84 | 18.65 | 24.98 | 31.40 | 40.30 |
| OPM % | 14.44% | 18.10% | 9.92% | 10.40% | 13.57% | 16.41% | 15.70% |
| Other Income | 0.34 | -0.66 | 1.16 | 2.18 | 3.68 | 31.67 | -27.68 |
| Interest | 1.67 | 1.60 | 1.17 | 1.77 | 1.46 | 1.07 | 1.17 |
| Depreciation | 12.84 | 16.50 | 17.28 | 19.10 | 19.08 | 19.52 | 20.04 |
| Profit before tax | 8.79 | 8.77 | 0.55 | -0.04 | 8.12 | 42.48 | -8.59 |
| Tax % | -16.72% | -12.20% | -34.55% | -800.00% | 1.48% | -2.10% | 11.18% |
| Net Profit | 10.26 | 9.84 | 0.75 | 0.29 | 7.99 | 43.36 | -9.55 |
| EPS in Rs | 1.40 | 1.34 | 0.10 | 0.04 | 1.01 | 5.46 | -1.20 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales | 171 | 223 | 323 | 525 | 598 | 735 | 811 |
| Expenses | 184 | 274 | 387 | 537 | 533 | 642 | 696 |
| Operating Profit | -13 | -51 | -64 | -12 | 65 | 93 | 115 |
| OPM % | -7% | -23% | -20% | -2.2% | 11% | 13% | 14% |
| Other Income | 10 | -15 | 22 | 22 | 13 | 39 | 10 |
| Interest | 2 | 9 | 11 | 18 | 8 | 5 | 5 |
| Depreciation | 18 | 29 | 40 | 56 | 60 | 75 | 78 |
| Profit before tax | -23 | -103 | -93 | -64 | 10 | 51 | 42 |
| Tax % | 1% | -2% | -5% | -11% | -35% | -2% | |
| Net Profit | -23 | -101 | -88 | -57 | 13 | 52 | 42 |
| EPS in Rs | -97.84 | -20.16 | -16.58 | -7.78 | 1.81 | 6.60 | 5.31 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 34% | 32% | 23% | ||
| Compounded Profit Growth | % | 25% | 31% | 322% | ||
| Stock Price CAGR | % | % | % | % | ||
| Return on Equity | % | -12% | -2% | 3% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2 | 10 | 11 | 15 | 15 | 16 |
| Reserves | 10 | 106 | 156 | 524 | 554 | 1,008 |
| Borrowings | 20 | 83 | 149 | 77 | 106 | 54 |
| Other Liabilities | 108 | 149 | 130 | 254 | 163 | 222 |
| Total Liabilities | 140 | 347 | 446 | 870 | 838 | 1,299 |
| Fixed Assets | 27 | 215 | 203 | 298 | 301 | 460 |
| CWIP | 0 | 0 | 6 | 3 | 0 | 0 |
| Investments | 0 | 0 | 0 | 70 | 0 | 136 |
| Other Assets | 113 | 132 | 237 | 499 | 537 | 702 |
| Total Assets | 140 | 347 | 446 | 870 | 838 | 1,299 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 1 | 7 | -20 | 97 | -46 | 150 |
| Cash from Investing Activity | -14 | -113 | -100 | -180 | 66 | -590 |
| Cash from Financing Activity | 28 | 96 | 137 | 218 | 4 | 270 |
| Net Cash Flow | 15 | -9 | 17 | 134 | 24 | -169 |
| Free Cash Flow | -11 | -10 | -48 | 60 | -94 | 111 |
| CFO/OP | 67% | -20% | 35% | -827% | -65% | 168% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 117 | 93 | 91 | 101 | 98 | 90 |
| Inventory Days | ||||||
| Days Payable | ||||||
| Cash Conversion Cycle | 117 | 93 | 91 | 101 | 98 | 90 |
| Working Capital Days | -106 | -184 | -136 | -66 | -28 | -10 |
| ROCE % | -68% | -36% | -12% | 2% | 3% |
| Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|
| Promoters | 52.29% | 52.23% | 51.45% |
| FIIs | 3.93% | 3.43% | 3.34% |
| DIIs | 17.75% | 18.60% | 19.38% |
| Public | 26.03% | 25.75% | 25.83% |
| No. of Shareholders | 20,521 | 16,620 | 16,688 |
Fundamentals
Market Cap₹ 4,516 Cr.
Current Price₹ 568
Stock P/E88.2
Book Value₹ 129
ROCE3.42 %
ROE2.95 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)23%
Compounded Profit Growth (TTM)322%
Consolidated figures.
Valuation
Market capRs 2,774 Cr
Enterprise valueRs 2,828 Cr
P/E (TTM)131.24x
Price to book23.89x
Price to sales4.14x
EV / EBITDA31.42x
EV / EBIT116.47x
EV / sales4.22x
Price to cash flow387.48x
Earnings yield0.76%
Profitability
Operating margin (excl. other income)-22.88%
Operating margin (incl. other income)-29.44%
EBITDA margin13.43%
Pre-tax margin2.70%
Net profit margin3.15%
Net margin, latest quarter0.16%
ROE-156.66%
ROCE-81.62%
ROA-41.34%
ROIC (approx.)14.00%
Tax rate2.20%
Other income / net worth-12.61%
Growth
Sales growth (latest year)30.52%
Sales growth QoQ-0.31%
Profit growth QoQ-61.33%
Per share
EPS (TTM)Rs 4.23
EPS (latest year)Rs -20.16
EPS (latest quarter)Rs 0.06
Book value per shareRs 23.22
Sales per shareRs 134.02
Cash flow per shareRs 1.43
Free cash flow per shareRs 22.19
Efficiency
Asset turnover0.64x
Fixed asset turnover1.04x
Debtor days93 days
Debtors turnover3.92x
Cash conversion cycle90 days
Working capital days-10 days
Leverage
Total debtRs 83 Cr
Cash and bankRs 29 Cr
Net debtRs 53 Cr
Debt to equity0.71x
Net debt / EBITDA0.59x
Interest coverage3.91x
Current ratio (filing 2026-03-31)2.80x
Quick ratio (filing 2026-03-31)2.80x
Trade payables (filing 2026-03-31)Rs 74 Cr
Owners' fund to total sources33.42%
Debt to assets23.78%
Cash flow
Cash from Operating Activity (latest year)Rs 7 Cr
Cash from Investing Activity (latest year)Rs -113 Cr
Cash from Financing Activity (latest year)Rs 96 Cr
Net Cash Flow (latest year)Rs -9 Cr
Free cash flow (latest year)Rs 111 Cr
FCFE (approx.: FCF + change in debt)Rs 174 Cr
Sales to cash flow31.16x
Statement figures
Net sales (TTM)Rs 670 Cr
Net sales (latest year)Rs 223 Cr
Sales (latest quarter)Rs 179 Cr
Operating profit excl. other income (latest year)Rs -51 Cr
Operating profit (latest quarter)Rs 19 Cr
Other income (TTM)Rs 3 Cr
EBITDA (TTM)Rs 90 Cr
PBDT (TTM)Rs 84 Cr
Profit before tax (TTM)Rs 18 Cr
Tax (latest year)Rs -2 Cr
Net profit (TTM)Rs 21 Cr
Net profit (latest year)Rs -101 Cr
Net profit (latest quarter)Rs 0 Cr
Depreciation (TTM)Rs 66 Cr
Depreciation (latest quarter)Rs 19 Cr
Interest (TTM)Rs 6 Cr
Cost of goods sold (latest year)Rs 39 Cr
Total expenditure (latest year)Rs 274 Cr
Total income (latest year)Rs 208 Cr
Share capitalRs 10 Cr
ReservesRs 106 Cr
Shareholders' fundsRs 116 Cr
Total assetsRs 347 Cr
Net blockRs 215 Cr
Capital work in progressRs 0 Cr
ReceivablesRs 57 Cr
Other liabilitiesRs 149 Cr
Shares outstanding (crore)5.00
Ownership
Promoter holding51.45%
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 | CAPILLARY | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.3% | -2.8% | +0.5 pts |
| 1 month | +12.8% | -6.8% | +19.6 pts |
| 3 months | +7.7% | -7.6% | +15.3 pts |
| 6 months | +15.7% | +0.4% | +15.3 pts |
30 mutual fund schemes hold about ₹649 Cr.
Over three months 8 bought more and 15 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| ICICI Pru Innovation Fund | 1.75% | 138 | -1% |
| Kotak Small Cap Fund | 0.58% | 113 | +324% |
| Kotak Pioneer Fund | 1.90% | 82 | -10% |
| Mirae Asset ELSS Tax Saver Fund | 0.23% | 60 | -28% |
| Aditya Birla SL Digital India Fund | 1.07% | 44 | +28% |
| SBI Technology Opp Fund | 0.88% | 40 | -20% |
| Axis Multicap Fund | 0.32% | 35 | -22% |
| ICICI Pru Technology Fund | 0.18% | 24 | -18% |
| Axis Innovation Fund | 1.52% | 21 | -6% |
| Aditya Birla SL Value Fund | 0.30% | 20 | +63% |
| PGIM India Small Cap Fund | 0.73% | 13 | -18% |
| Union Innovation & Opp Fund | 0.78% | 10 | -20% |
| Edelweiss Recently Listed IPO Fund | 0.74% | 9 | -21% |
| Aditya Birla SL Dividend Yield Fund | 0.60% | 9 | +23% |
| Axis Services Opportunities Fund | 0.57% | 9 | -2% |
| Kotak Technology Fund | 0.96% | 5 | -15% |
| Aditya Birla SL Special Opp Fund | 0.41% | 5 | +100% |
| Aditya Birla SL Retirement Fund-30 | 0.93% | 5 | +100% |
| Aditya Birla SL Equity Savings Fund | 0.32% | 4 | +100% |
| Motilal Oswal Nifty Microcap 250 Index Fund | 0.10% | 2 | -17% |
| PGIM India Multi Cap Fund | 0.42% | 2 | -18% |
| Apex Hybrid Long-Short Fund | 0.20% | 0 | +100% |
| Groww Nifty Total Market Index Fund | 0.00% | 0 | |
| Mirae Asset Flexi Cap Fund | 0.00% | 0 | -100% |
| Angel One Nifty Total Market Index Fund | 0.00% | 0 |
Red flags
F-score 2 of 8| explain | Debt up, profit down Borrowings up 314% while net profit fell in 2026 |
| look | Share dilution Share count up 2074% in a year |
| look | Repeated losses Net loss in each of the last two years |
| look | On NSE surveillance On NSE surveillance: ASM short-term |
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.
Insider trades
NSE insider and takeover-code disclosures| Date | Who | Role | Side | Shares | Value | How |
|---|---|---|---|---|---|---|
| 2026-09-18 | Mirae Asset Mutual Fund | Acquirer | sell | 53,335 | SAST Open Market | |
| 2026-09-18 | Mirae Asset Mutual Fund | Acquirer | sell | 53,335 | SAST Open Market |
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.
Latest quarter
Jun 2026Sales ₹257 Cr +42.7% vs Jun 2025.
Net loss ₹10 Cr.
Activity
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No bulk or block deals on record.
No corporate actions on record.
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.
Scrip PE is greater than 50 (4 trailing quarters)Short Term Additional Surveillance Measure (Short Term ASM): stage 1