Price
Financials
Standalone, Rs crore| Dec 2024 | Mar 2025 | Jun 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|
| Sales | 34.63 | 111.92 | 46.40 | 49.28 | 167.61 | 84.03 |
| Expenses | 25.13 | 89.40 | 35.40 | 37.94 | 148.71 | 72.62 |
| Operating Profit | 9.50 | 22.52 | 11.00 | 11.34 | 18.90 | 11.41 |
| OPM % | 27.43% | 20.12% | 23.71% | 23.01% | 11.28% | 13.58% |
| Other Income | 0.08 | 1.66 | 0.07 | 0.03 | 1.11 | 0.09 |
| Interest | 3.41 | 4.20 | 4.47 | 4.57 | 5.23 | 3.53 |
| Depreciation | 5.29 | 4.53 | 4.22 | 4.60 | 3.12 | 2.82 |
| Profit before tax | 0.88 | 15.45 | 2.38 | 2.20 | 11.66 | 5.15 |
| Tax % | -20.45% | 30.42% | 23.53% | 21.36% | 37.05% | 24.66% |
| Net Profit | 1.06 | 10.75 | 1.82 | 1.74 | 7.34 | 3.88 |
| EPS in Rs | 0.22 | 2.18 | 0.37 | 0.35 | 1.12 | 0.59 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 91 | 110 | 162 | 242 | 261 | 321 |
| Expenses | 76 | 94 | 135 | 199 | 205 | 263 |
| Operating Profit | 15 | 16 | 27 | 43 | 56 | 58 |
| OPM % | 16% | 14% | 17% | 18% | 22% | 18% |
| Other Income | 0 | 0 | 0 | 0 | 2 | 1 |
| Interest | 4 | 3 | 5 | 7 | 12 | 18 |
| Depreciation | 5 | 5 | 6 | 11 | 18 | 17 |
| Profit before tax | 6 | 7 | 17 | 25 | 28 | 24 |
| Tax % | 27% | 29% | 28% | 25% | 26% | 30% |
| Net Profit | 4 | 5 | 12 | 19 | 21 | 17 |
| EPS in Rs | 14.80 | 17.37 | 3.35 | 3.81 | 4.28 | 2.60 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 29% | 26% | 23% | ||
| Compounded Profit Growth | % | 30% | 12% | -18% | ||
| Stock Price CAGR | % | % | 15% | 24% | ||
| Return on Equity | % | 20% | 17% | 10% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 18 | 25 | 25 | 33 |
| Reserves | 12 | 17 | 12 | 68 | 88 | 188 |
| Borrowings | 33 | 50 | 53 | 86 | 162 | 139 |
| Other Liabilities | 40 | 41 | 71 | 72 | 88 | 141 |
| Total Liabilities | 87 | 109 | 154 | 251 | 362 | 500 |
| Fixed Assets | 34 | 29 | 34 | 67 | 74 | 90 |
| CWIP | 0 | 1 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 20 |
| Other Assets | 53 | 78 | 120 | 184 | 288 | 390 |
| Total Assets | 87 | 109 | 154 | 251 | 362 | 500 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 11 | -9 | 9 | -25 | -43 | -8 |
| Cash from Investing Activity | -12 | -3 | -9 | -43 | -17 | -43 |
| Cash from Financing Activity | 1 | 14 | -1 | 67 | 63 | 52 |
| Net Cash Flow | -1 | 2 | -2 | -1 | 3 | 1 |
| Free Cash Flow | -2 | -11 | -1 | -68 | -57 | -30 |
| CFO/OP | 71% | -59% | 38% | -40% | -61% | 3% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 81 | 89 | 93 | 70 | 99 | 134 |
| Inventory Days | 195 | 334 | 275 | |||
| Days Payable | 270 | 276 | 283 | |||
| Cash Conversion Cycle | 6 | 146 | 86 | 70 | 99 | 134 |
| Working Capital Days | -20 | 23 | 47 | 50 | 89 | 162 |
| ROCE % | 18% | 28% | 25% | 18% | 13% |
| Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|
| Promoters | 73.00% | 73.00% | 73.00% | 73.00% | 73.00% | 55.12% | 55.12% |
| FIIs | 5.25% | 1.04% | 0.94% | 0.16% | 0.00% | 0.00% | 0.00% |
| DIIs | 1.59% | 0.44% | 0.13% | 0.50% | 0.00% | 1.39% | 1.39% |
| Public | 20.16% | 25.52% | 25.93% | 26.34% | 27.00% | 43.49% | 43.49% |
| No. of Shareholders | 1,472 | 1,717 | 2,707 | 2,557 | 2,524 | 2,272 | 2,304 |
Fundamentals
Market Cap₹ 427 Cr.
Current Price₹ 65.4
Stock P/E22.7
Book Value₹ 33.8
ROCE13.4 %
ROE10.1 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)23%
Compounded Profit Growth (TTM)-18%
Standalone figures.
Valuation
Market capRs 391 Cr
Enterprise valueRs 436 Cr
P/E (TTM)75.03x
Price to book21.29x
Price to sales3.56x
EV / EBITDA27.80x
EV / EBIT41.18x
EV / sales3.97x
Earnings yield1.33%
Profitability
Operating margin (excl. other income)14.25%
Operating margin (incl. other income)14.30%
EBITDA margin14.30%
Pre-tax margin6.67%
Net profit margin4.74%
Net margin, latest quarter9.61%
ROE33.08%
ROCE18.48%
ROA5.33%
ROIC (approx.)11.80%
Tax rate28.79%
Other income / net worth0.27%
Growth
Sales growth (latest year)20.36%
Profit growth (latest year)17.34%
Sales growth QoQ223.19%
Profit growth QoQ914.15%
Per share
EPS (TTM)Rs 0.80
EPS (latest year)Rs 34.73
EPS (latest quarter)Rs 1.65
Book value per shareRs 2.81
Sales per shareRs 16.81
Cash flow per shareRs -1.41
Free cash flow per shareRs -4.59
Efficiency
Asset turnover1.01x
Fixed asset turnover3.73x
Inventory turnover2.25x
Inventory days162 days
Debtor days89 days
Debtors turnover4.11x
Creditor days283 days
Cash conversion cycle134 days
Working capital days162 days
Leverage
Total debtRs 50 Cr
Cash and bankRs 4 Cr
Net debtRs 46 Cr
Debt to equity2.72x
Net debt / EBITDA2.90x
Interest coverage3.24x
Owners' fund to total sources16.87%
Debt to assets45.89%
Cash flow
Cash from Operating Activity (latest year)Rs -9 Cr
Cash from Investing Activity (latest year)Rs -3 Cr
Cash from Financing Activity (latest year)Rs 14 Cr
Net Cash Flow (latest year)Rs 2 Cr
Free cash flow (latest year)Rs -30 Cr
FCFE (approx.: FCF + change in debt)Rs -13 Cr
Cash from ops / profit, 5 years-1.03x
Statement figures
Net sales (TTM)Rs 110 Cr
Net sales (latest year)Rs 110 Cr
Sales (latest quarter)Rs 112 Cr
Operating profit excl. other income (latest year)Rs 16 Cr
Operating profit (latest quarter)Rs 23 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 16 Cr
PBDT (TTM)Rs 12 Cr
Profit before tax (TTM)Rs 7 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 5 Cr
Net profit (latest year)Rs 5 Cr
Net profit (latest quarter)Rs 11 Cr
Depreciation (TTM)Rs 5 Cr
Depreciation (latest quarter)Rs 5 Cr
Interest (TTM)Rs 3 Cr
Cost of goods sold (latest year)Rs 81 Cr
Total expenditure (latest year)Rs 94 Cr
Total income (latest year)Rs 110 Cr
Share capitalRs 2 Cr
ReservesRs 17 Cr
Shareholders' fundsRs 18 Cr
Total assetsRs 109 Cr
Net blockRs 29 Cr
Capital work in progressRs 1 Cr
ReceivablesRs 27 Cr
InventoryRs 36 Cr
Other liabilitiesRs 41 Cr
Shares outstanding (crore)6.53
Ownership
Promoter holding55.12% (-17.88 in a year)
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 | CHAVDA | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -14.9% | -2.8% | -12.1 pts |
| 1 month | -52.8% | -6.8% | -46.0 pts |
| 3 months | -35.2% | -7.6% | -27.5 pts |
| 6 months | -31.4% | +0.4% | -31.8 pts |
| 1 year | -46.0% | -9.9% | -36.1 pts |
| 2 years | -68.5% | -13.6% | -55.0 pts |
| 3 years | -30.4% | +14.2% | -44.6 pts |
Red flags
F-score 2 of 8| explain | Weak cash conversion Cash from operations was 15% of net profit over the last 2 years |
| explain | High accruals Profit exceeded operating cash by 13% of total assets 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 ₹84 Cr -24.9% vs Mar 2025.
Net profit ₹4 Cr -63.9%.
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.
ESM: stage 1Less than 100 unique PAN traded in previous 30 daysMandatory Market making period in SME scrip is overSME scrip is not regularly traded