MarketFriction

Choice International Ltd

NSE CHOICEIN · BSE 531358 · Holding Company
₹719.40 -0.94%
NSE close2026-10-01
52 week range568.70 - 860.50
Market cap₹16,511 Cr.
P/E72.4
Nifty 500Smallcap 250 Price band 20% Delivery 65.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales191207215201247209253235274303307310
Expenses142141147148172150157151185192191205
Operating Profit496767537660968389112116105
OPM %25%32%31%26%31%28%38%36%33%37%38%34%
Other Income3325222310579
Interest101112131516222121212628
Depreciation2222223343106
Profit before tax405655436143746374928780
Tax %25%28%29%26%23%29%28%24%24%29%22%24%
Net Profit304039324631544856666861
EPS in Rs1.481.981.931.482.311.472.592.192.692.562.712.48
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1871341521211321762853937569211,1371,194
Expenses1601031138593134194286531626719773
Operating Profit28303936394192107225295419421
OPM %15%23%26%29%29%23%32%27%30%32%37%35%
Other Income0100001231731
Interest191921201715152241668996
Depreciation22333335782024
Profit before tax710161218237482181221316333
Tax %39%41%24%28%32%27%27%27%28%26%25%
Net Profit4612612175460131163238251
EPS in Rs0.861.261.220.591.241.172.693.026.567.849.7710.44
Dividend Payout %23%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth20%45%43%26%
Compounded Profit Growth48%67%53%32%
Stock Price CAGR53%89%52%-3%
Return on Equity16%18%18%16%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1010102020202950100199200223
Reserves5053701461541932343603784328281,449
Borrowings121119147177166143151219206455679908
Other Liabilities46496084133146240347424718909984
Total Liabilities2272322874284735026559761,1071,8052,6153,563
Fixed Assets3234377898888688126134260373
CWIP0014000057530
Investments222226472220711112359178
Other Assets1731752222993523955628779651,6412,2922,982
Total Assets2272322874284735026559761,1071,8052,6153,563
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-2228-204-3626-45-52138-153-294-267
Cash from Investing Activity135-11-22541315-99-48-13-161-277
Cash from Financing Activity6-222139-28-1523146-29224449600
Net Cash Flow-311-921-1124-7-56258-656
Free Cash Flow-2323-25-1-6934-46-5791-186-434-364
CFO/OP-77%108%-55%21%-93%78%-98%-31%153%-46%-80%-44%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days57216931328120125115810410791109140
Inventory Days58432206284
Days Payable1,984164136160
Cash Conversion Cycle-8283838340520125115810410791109140
Working Capital Days-125-50-52-56100170570484209169222387
ROCE %14%14%14%13%10%10%10%17%16%25%20%18%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters56.27%57.98%58.21%58.21%58.21%58.21%58.13%56.44%56.61%53.66%53.66%53.66%
FIIs15.44%13.58%12.44%12.22%12.72%13.70%13.63%13.97%12.97%12.16%11.41%10.10%
DIIs0.04%0.05%0.06%0.07%0.09%0.18%0.16%0.19%0.28%0.30%0.35%0.28%
Public28.26%28.41%29.29%29.51%28.98%27.92%28.09%29.39%30.15%33.89%34.59%35.97%
No. of Shareholders7,2348,09618,51318,52419,41523,76821,98425,30727,09426,65926,09125,427

Fundamentals

Market Cap₹ 16,511 Cr.
Current Price₹ 741
Stock P/E72.4
Book Value₹ 75.0
ROCE17.9 %
ROE16.1 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)26%
Compounded Profit Growth (TTM)32%
Consolidated figures.
Valuation
Market capRs 16,027 Cr
Enterprise valueRs 16,415 Cr
P/E (TTM)70.30x
Price to book9.59x
Price to sales13.42x
EV / EBITDA36.26x
EV / EBIT38.26x
EV / sales13.74x
Earnings yield1.42%
P/E, 3-year average56.04x
P/B, 3-year average8.84x
P/E, 5-year average39.36x
P/B, 5-year average6.03x
Profitability
Operating margin (excl. other income)36.80%
Operating margin (incl. other income)37.42%
EBITDA margin37.90%
Pre-tax margin27.92%
Net profit margin19.09%
Net margin, latest quarter17.85%
ROE16.13%
ROCE18.93%
ROA7.05%
ROE, 3-year average19.54%
ROCE, 3-year average21.51%
ROA, 3-year average7.70%
ROE, 5-year average17.61%
ROCE, 5-year average19.49%
ROA, 5-year average7.09%
ROIC (approx.)15.66%
Tax rate24.81%
Other income / net worth0.42%
Growth
Sales growth (latest year)23.48%
Profit growth (latest year)39.05%
Sales CAGR, 3 years42.50%
Sales CAGR, 5 years45.31%
Profit CAGR, 3 years53.59%
Profit CAGR, 5 years67.09%
Sales growth QoQ1.00%
Profit growth QoQ-8.31%
Sales growth YoY (latest quarter)32.04%
Profit growth YoY (latest quarter)22.83%
Per share
EPS (TTM)Rs 10.23
EPS (latest year)Rs 9.77
EPS (latest quarter)Rs 2.48
EPS, 3-year averageRs 8.06
EPS, 5-year averageRs 8.20
Book value per shareRs 75.03
Sales per shareRs 53.61
Cash flow per shareRs -11.99
Free cash flow per shareRs -16.34
Efficiency
Asset turnover0.32x
Fixed asset turnover3.05x
Inventory turnover0.83x
Inventory days439 days
Debtor days140 days
Debtors turnover2.60x
Creditor days160 days
Cash conversion cycle140 days
Working capital days387 days
Leverage
Total debtRs 908 Cr
Cash and bankRs 519 Cr
Net debtRs 389 Cr
Debt to equity0.54x
Net debt / EBITDA0.86x
Interest coverage4.49x
Current ratio (filing 2026-03-31)2.06x
Quick ratio (filing 2026-03-31)2.06x
Trade payables (filing 2026-03-31)Rs 50 Cr
Owners' fund to total sources46.91%
Debt to assets25.47%
Cash flow
Cash from Operating Activity (latest year)Rs -267 Cr
Cash from Investing Activity (latest year)Rs -277 Cr
Cash from Financing Activity (latest year)Rs 600 Cr
Net Cash Flow (latest year)Rs 56 Cr
Free cash flow (latest year)Rs -364 Cr
FCFE (approx.: FCF + change in debt)Rs -136 Cr
Cash from ops / profit, 5 years-0.97x
Statement figures
Net sales (TTM)Rs 1,194 Cr
Net sales (latest year)Rs 1,137 Cr
Sales (latest quarter)Rs 310 Cr
Operating profit excl. other income (latest year)Rs 419 Cr
Operating profit (latest quarter)Rs 105 Cr
Other income (TTM)Rs 31 Cr
EBITDA (TTM)Rs 453 Cr
PBDT (TTM)Rs 357 Cr
Profit before tax (TTM)Rs 333 Cr
Tax (latest year)Rs 78 Cr
Net profit (TTM)Rs 228 Cr
Net profit (latest year)Rs 218 Cr
Net profit (latest quarter)Rs 55 Cr
Depreciation (TTM)Rs 24 Cr
Depreciation (latest quarter)Rs 6 Cr
Interest (TTM)Rs 96 Cr
Cost of goods sold (latest year)Rs 20 Cr
Total expenditure (latest year)Rs 719 Cr
Total income (latest year)Rs 1,144 Cr
Share capitalRs 223 Cr
ReservesRs 1,449 Cr
Shareholders' fundsRs 1,672 Cr
Total assetsRs 3,563 Cr
Net blockRs 373 Cr
Capital work in progressRs 30 Cr
InvestmentsRs 178 Cr
ReceivablesRs 437 Cr
InventoryRs 24 Cr
Other liabilitiesRs 984 Cr
Shares outstanding (crore)22.28
Ownership
Promoter holding53.66% (-2.78 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 70.3 is at the 56th percentile of its own 9.4-year range (median 66.9, low 26.2, high 138.7).
P/B 9.59 is at the 65th percentile (median 6.65).
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.
PeriodCHOICEINNifty 50Difference
1 week-4.0%-2.8% -1.2 pts
1 month-7.1%-6.8% -0.3 pts
3 months-10.1%-7.6% -2.5 pts
6 months+17.9%+0.4% +17.5 pts
1 year-12.3%-9.9% -2.4 pts
2 years+55.0%-13.6% +68.5 pts
3 years+241.6%+14.2% +227.5 pts
5 years+2254.1%+27.9% +2226.2 pts
30 mutual fund schemes hold about ₹31 Cr. Over three months 29 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Nifty Smallcap 250 Index Fund0.30%11 +11%
SBI Nifty Smallcap 250 Index Fund0.30%5 +11%
Motilal Oswal Nifty Smallcap 250 Index Fund0.30%4 +11%
ICICI Pru Nifty Smallcap 250 Index Fund0.30%2 +11%
HDFC NIFTY Smallcap 250 Index Fund0.30%2 +11%
JioBlackRock Nifty Smallcap 250 Index Fund0.30%1 +11%
Motilal Oswal Nifty 500 Index Fund0.03%1 +11%
Nippon India Nifty 500 Equal Weight Index Fund0.19%1 -0%
Edelweiss Nifty Smallcap 250 Index Fund0.30%1 +11%
Groww Nifty Smallcap 250 Index Fund0.30%0 +11%
HDFC Nifty500 Multicap 50:25:25 Index Fund0.08%0 +13%
Bandhan Nifty Smallcap 250 Index Fund0.30%0 +11%
Kotak Nifty Smallcap 250 Index Fund0.30%0 +11%
SBI Nifty 500 Index Fund0.03%0 +11%
Navi Nifty Smallcap250 Momentum Quality 100 Index Fund0.50%0 +24%
Groww Nifty Total Market Index Fund0.03%0 +11%
Axis Nifty 500 Index Fund0.03%0 +11%
HDFC BSE 500 Index Fund0.03%0 +8%
DSP Nifty Smallcap 250 Index Fund0.30%0 +10%
Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund0.50%0 +25%
UTI Nifty 500 Index Fund0.03%0 +100%
ICICI Pru Nifty 500 Index Fund0.03%0 +15%
Zerodha Nifty MidSmallcap400 50:50 Index Fund0.15%0 +25%
Angel One Nifty Total Market Index Fund0.03%0 +11%
Mirae Asset Nifty Total Market Index Fund0.03%0 +11%

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was -141% of net profit over the last 3 years
explainHigh accruals Profit exceeded operating cash by 14% of total assets in 2026
explainReceivables outrunning sales Receivables grew 59% vs sales +23% in 2026
lookShare dilution Share count up 12% in a year, 12% in three
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 2026
Sales ₹310 Cr +31.9% vs Jun 2025. Net profit ₹61 Cr +27.1%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-13Annual General Meeting
2024-02-20Bonus 1:10.5000
2023-08-18Annual General Meeting
2022-09-22Bonus 1:10.5000
2022-09-07Annual General Meeting
DateTypeWhat it says
2026-09-29Shareholder meetingVoting results and Scrutinizers Report of the 33rd Annual General Meeting of the Company held on September 26, 2026.
2026-09-26Shareholder meetingProceedings of the 33rd Annual General Meeting of the Company.
2026-09-23Concall / analyst meetIntimation of Schedule of Analyst/Investors Meet.
2026-09-15Record DateIntimation of Book Closure and Record Date for ensuing 33rd Annual General Meeting of the company.
2026-09-08Concall / analyst meetIntimation of Schedule of Analyst/Investors Meet.
2026-09-04General UpdatesLetter to Shareholders- Intimation of Annual General Meeting
2026-09-04Shareholder meetingNotice of the 33rd Annual General Meeting and Annual Report for the Financial year 2025-26
2026-08-20General UpdatesUpdate on Acquisition of 100% stake of Choice Proptech Solutions Private Limited.
2026-08-17Concall / analyst meetEarnings Call Transcript for Q1 and FY 27 Results.
2026-08-11Concall / analyst meetEarnings Conference call - Audio Recording for Q1 FY27
2026-08-10Press ReleasePress Release for the Un-audited financial results for the quarter ended June 30, 2026.
2026-08-10Investor PresentationInvestor Presentation
2026-08-10Change in ManagementDisclosure relating to change in Chief Financial Officer (CFO) of the Company.
2026-08-10General UpdatesAquisition of 100% stake in "Choice Proptech Solutions Private Limited" by the Company.
2026-08-10Board meeting outcomeOutcome of the Board meeting approving the Un-Audited Financial Results (standalone and consolidated) of the Company for the quarter ended June 30, 20...
2026-08-05Concall / analyst meetIntimation of Q1 - FY 27 Earnings Conference Call
2026-07-21Press ReleaseOur subsidiaries, Choice Consultancy Services Private Limited and Ayoleeza Consultants Private Limited has won/awarded government mandates with an agg...
2026-07-14CessationCessation of Mr. Kanhaiya Lal Berwal as Non- Executive Independent Director of the company w.e.f. July 13, 2026.
2026-07-14CessationIntimation for the completion of tenure of Mr. Ashok Kumar Thakur as the Non-Executive Independent Director of the Company.
2026-07-11General UpdatesReceipt of SEBI Approval to the Company "Choice International Limited" to act as Sponosr and its subsidiary "Choice AMC Private Limited" to act as Inv...
2026-07-09Press ReleasePress release relating to issuance of Compulsory Convertible Preference Shares ( CCPS ) by our material subsidiary Choice Equity Broking Private Limit...
2026-07-09AgreementsExecution of Definitive Transaction Agreements for Strategic Investment via Issuance of CCPS to NH Investment & Securities Co., Ltd. ( Investor ) by C...
2026-07-09General UpdatesExecution of Definitive Transaction Agreements for Strategic Investment via Issuance of CCPS to NH Investment & Securities Co., Ltd. ( Investor ) by C...
2026-06-22General UpdatesAppointment of Dr. Nitin Kareer as a member of Advisory Board.
2026-06-12Disclosure under SEBI TakeovKamal Poddar has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acqu...
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)

Quick answers

What is the market cap of Choice International Ltd?

Choice International Ltd (CHOICEIN) has a market capitalisation of Rs 16,511 Cr. at the 2026-10-01 close.

What is the P/E ratio of Choice International Ltd?

Choice International Ltd trades at a P/E of 72.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were Choice International Ltd's latest quarterly results?

In the Jun 2026 quarter, Choice International Ltd sales was Rs 310 Cr (+31.9% vs Jun 2025) and net profit was Rs 61 Cr.

What is the 52-week high and low of Choice International Ltd?

The 52-week high is Rs 860.50 and the 52-week low is Rs 568.70.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03