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 | 430 | 511 | 304 | 301 | 411 | 659 | 404 | 394 | 656 | 914 | 741 | 476 |
| Expenses | 418 | 500 | 292 | 293 | 399 | 647 | 390 | 382 | 633 | 888 | 711 | 452 |
| Operating Profit | 12 | 11 | 12 | 8 | 12 | 12 | 15 | 12 | 23 | 26 | 30 | 24 |
| OPM % | 2.8% | 2.1% | 3.9% | 2.7% | 3.0% | 1.9% | 3.7% | 3.0% | 3.5% | 2.9% | 4.0% | 5% |
| Other Income | 3 | 6 | 16 | 4 | 5 | 12 | 4 | 3 | 4 | 6 | -0 | 1 |
| Interest | 2 | 2 | 2 | 1 | 2 | 4 | 3 | 3 | 4 | 6 | 7 | 8 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | 12 | 13 | 25 | 11 | 15 | 20 | 16 | 12 | 22 | 26 | 22 | 17 |
| Tax % | 15% | 14% | 19% | 16% | 12% | 14% | 13% | 14% | 13% | 12% | 18% | 19% |
| Net Profit | 10 | 12 | 20 | 9 | 13 | 17 | 14 | 10 | 19 | 23 | 18 | 14 |
| EPS in Rs | 7.44 | 8.22 | 14.43 | 6.44 | 9.28 | 11.99 | 9.14 | 6.78 | 12.62 | 15.56 | 11.85 | 9.02 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 368 | 457 | 520 | 947 | 1,392 | 1,721 | 1,783 | 2,704 | 2,787 |
| Expenses | 357 | 442 | 507 | 915 | 1,357 | 1,672 | 1,728 | 2,613 | 2,684 |
| Operating Profit | 10 | 15 | 13 | 32 | 36 | 49 | 54 | 91 | 103 |
| OPM % | 2.8% | 3.4% | 2.4% | 3.4% | 2.6% | 2.8% | 3.0% | 3.4% | 3.7% |
| Other Income | 3 | 1 | 6 | 1 | 10 | 20 | 19 | 13 | 11 |
| Interest | 5 | 5 | 5 | 6 | 9 | 10 | 10 | 21 | 25 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 2 | 2 |
| Profit before tax | 8 | 11 | 13 | 25 | 34 | 58 | 62 | 82 | 87 |
| Tax % | 29% | 30% | 28% | 23% | 20% | 17% | 14% | 14% | |
| Net Profit | 6 | 8 | 9 | 19 | 27 | 48 | 53 | 70 | 74 |
| EPS in Rs | 5.04 | 6.71 | 8.23 | 13.32 | 19.52 | 31.22 | 30.77 | 41.20 | 49.05 |
| Dividend Payout % | 5% | 7% | -0% | 4% | 3% | 2% | 2% | 1% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 39% | 25% | 49% | ||
| Compounded Profit Growth | % | 45% | 36% | 36% | ||
| Stock Price CAGR | % | 37% | 28% | 72% | ||
| Return on Equity | % | 21% | 20% | 19% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 12 | 12 | 12 | 13 | 14 | 15 | 15 |
| Reserves | 28 | 40 | 47 | 70 | 105 | 202 | 279 | 349 |
| Borrowings | 36 | 32 | 43 | 64 | 89 | 74 | 72 | 324 |
| Other Liabilities | 49 | 71 | 90 | 107 | 82 | 72 | 166 | 249 |
| Total Liabilities | 119 | 155 | 192 | 253 | 288 | 361 | 532 | 937 |
| Fixed Assets | 9 | 9 | 10 | 11 | 10 | 9 | 8 | 12 |
| CWIP | -0 | -0 | -0 | -0 | -0 | -0 | 2 | -0 |
| Investments | 1 | 1 | -0 | -0 | -0 | -0 | 3 | 3 |
| Other Assets | 108 | 145 | 182 | 243 | 278 | 353 | 518 | 922 |
| Total Assets | 119 | 155 | 192 | 253 | 288 | 361 | 532 | 937 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -4 | -2 | -4 | -19 | -21 | -28 | 22 | -272 |
| Cash from Investing Activity | -2 | -1 | -2 | -3 | -0 | -24 | -5 | -1 |
| Cash from Financing Activity | 7 | 3 | 7 | 22 | 21 | 57 | 20 | 234 |
| Net Cash Flow | 1 | -1 | 2 | 1 | -0 | 5 | 37 | -39 |
| Free Cash Flow | -6 | -3 | -6 | -21 | -22 | -29 | 19 | -275 |
| CFO/OP | -21% | 5% | -8% | -40% | -38% | -41% | 59% | -287% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 44 | 31 | 39 | 33 | 24 | 31 | 49 | 76 |
| Inventory Days | 30 | 54 | 46 | 41 | 23 | 18 | 24 | 25 |
| Days Payable | 29 | 26 | 29 | 27 | 13 | 12 | 30 | 27 |
| Cash Conversion Cycle | 45 | 59 | 56 | 47 | 34 | 37 | 42 | 75 |
| Working Capital Days | 26 | 35 | 35 | 31 | 31 | 44 | 50 | 47 |
| ROCE % | 21% | 19% | 24% | 24% | 26% | 21% | 19% |
| 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 | 56.91% | 56.91% | 56.67% | 56.68% | 56.16% | 56.16% | 56.60% | 56.60% | 56.62% | 56.62% | 56.62% | 56.62% |
| FIIs | 0.01% | 0.00% | 0.07% | 0.14% | 0.29% | 0.89% | 0.98% | 1.01% | 0.37% | 0.22% | 0.22% | 0.27% |
| DIIs | 1.06% | 1.49% | 1.58% | 1.57% | 1.52% | 1.52% | 0.96% | 0.96% | 0.98% | 1.04% | 1.08% | 1.28% |
| Public | 42.01% | 41.59% | 41.68% | 41.61% | 42.02% | 41.43% | 41.47% | 41.43% | 42.03% | 42.12% | 42.09% | 41.83% |
| No. of Shareholders | 6,471 | 6,450 | 6,386 | 6,784 | 10,160 | 9,737 | 9,098 | 9,350 | 9,426 | 9,131 | 8,832 | 9,062 |
Fundamentals
Market Cap₹ 1,646 Cr.
Current Price₹ 1,098
Stock P/E22.3
Book Value₹ 242
ROCE18.8 %
ROE18.8 %
Dividend Yield0.05 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)49%
Compounded Profit Growth (TTM)36%
Consolidated figures.
Valuation
Market capRs 1,523 Cr
Enterprise valueRs 1,580 Cr
P/E (TTM)20.68x
Price to book7.06x
Price to sales0.55x
EV / EBITDA13.89x
EV / EBIT14.11x
EV / sales0.57x
Earnings yield4.84%
Dividend yield0.05%
P/E, 3-year average32.97x
P/B, 3-year average6.59x
P/E, 5-year average24.63x
P/B, 5-year average4.71x
Profitability
Operating margin (excl. other income)2.84%
Operating margin (incl. other income)4.02%
EBITDA margin4.08%
Pre-tax margin3.11%
Net profit margin2.64%
Net margin, latest quarter2.84%
ROE26.45%
ROCE27.39%
ROA13.57%
ROE, 3-year average24.59%
ROCE, 3-year average25.72%
ROA, 3-year average9.95%
ROE, 5-year average21.86%
ROCE, 5-year average23.42%
ROA, 5-year average8.21%
ROIC (approx.)34.09%
Tax rate17.14%
Other income / net worth9.41%
Growth
Sales growth (latest year)23.56%
Profit growth (latest year)79.18%
Sales CAGR, 3 years49.03%
Sales CAGR, 5 years36.16%
Profit CAGR, 3 years66.47%
Profit CAGR, 5 years49.75%
Sales growth QoQ-35.73%
Profit growth QoQ-23.89%
Sales growth YoY (latest quarter)20.82%
Profit growth YoY (latest quarter)33.01%
Per share
EPS (TTM)Rs 52.18
EPS (latest year)Rs 31.22
EPS (latest quarter)Rs 9.59
EPS, 3-year averageRs 21.35
EPS, 5-year averageRs 15.80
Book value per shareRs 152.84
Sales per shareRs 1,974.43
Cash flow per shareRs -19.97
Free cash flow per shareRs -194.85
Dividend per share (latest year)Rs 0.50
Dividend per share, 3-year averageRs 0.50
Dividend per share, 5-year averageRs 0.50
Dividends
Dividend payout1.61%
Dividend payout, 3-year average2.64%
Dividend payout, 5-year average3.85%
Efficiency
Asset turnover4.76x
Fixed asset turnover194.86x
Inventory turnover20.73x
Inventory days18 days
Debtor days31 days
Debtors turnover11.70x
Creditor days27 days
Cash conversion cycle75 days
Working capital days47 days
Leverage
Total debtRs 74 Cr
Cash and bankRs 17 Cr
Net debtRs 56 Cr
Debt to equity0.34x
Net debt / EBITDA0.50x
Interest coverage4.43x
Current ratio (filing 2026-03-31)1.68x
Quick ratio (filing 2026-03-31)1.36x
Trade payables (filing 2026-03-31)Rs 185 Cr
Owners' fund to total sources59.69%
Debt to assets20.36%
Cash flow
Cash from Operating Activity (latest year)Rs -28 Cr
Cash from Investing Activity (latest year)Rs -24 Cr
Cash from Financing Activity (latest year)Rs 57 Cr
Net Cash Flow (latest year)Rs 5 Cr
Free cash flow (latest year)Rs -275 Cr
FCFE (approx.: FCF + change in debt)Rs -290 Cr
Cash from ops / profit, 5 years-1.47x
Statement figures
Net sales (TTM)Rs 2,787 Cr
Net sales (latest year)Rs 1,721 Cr
Sales (latest quarter)Rs 476 Cr
Operating profit excl. other income (latest year)Rs 49 Cr
Operating profit (latest quarter)Rs 24 Cr
Other income (TTM)Rs 11 Cr
EBITDA (TTM)Rs 114 Cr
PBDT (TTM)Rs 88 Cr
Profit before tax (TTM)Rs 87 Cr
Tax (latest year)Rs 10 Cr
Net profit (TTM)Rs 74 Cr
Net profit (latest year)Rs 44 Cr
Net profit (latest quarter)Rs 14 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 25 Cr
Cost of goods sold (latest year)Rs 1,612 Cr
Total expenditure (latest year)Rs 1,672 Cr
Total income (latest year)Rs 1,741 Cr
Share capitalRs 14 Cr
ReservesRs 202 Cr
Shareholders' fundsRs 216 Cr
Total assetsRs 361 Cr
Net blockRs 9 Cr
ReceivablesRs 147 Cr
InventoryRs 78 Cr
Other liabilitiesRs 72 Cr
Shares outstanding (crore)1.41
Ownership
Promoter holding56.62% (+0.02 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 20.7 is at the 28th percentile of its own 5.4-year range
(median 75.8, low 11.2, high 174.4).
P/B 7.06 is at the 5th percentile (median 12.70).
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 | CNL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.5% | -2.8% | +0.3 pts |
| 1 month | -13.4% | -6.8% | -6.6 pts |
| 3 months | +41.1% | -7.6% | +48.8 pts |
| 6 months | +104.3% | +0.4% | +103.9 pts |
| 1 year | +59.3% | -9.9% | +69.2 pts |
| 2 years | +23.5% | -13.6% | +37.1 pts |
| 3 years | +104.5% | +14.2% | +90.3 pts |
| 5 years | +366.6% | +27.9% | +338.7 pts |
Red flags
F-score 4 of 8| explain | Weak cash conversion Cash from operations was -81% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 20% of total assets in 2026 |
| look | Share dilution Share count up 12% in a year, 22% in three |
| look | On NSE surveillance On NSE surveillance: ASM long-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.
Latest quarter
Jun 2026Sales ₹476 Cr +20.8% vs Jun 2025.
Net profit ₹14 Cr +40.0%.
Activity
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|---|---|---|---|
| Redington Ltd | 31,697 | 17.6 | 18.4 % |
| MMTC Ltd | 8,514 | 42.3 | 8.67 % |
| MSTC Ltd | 5,028 | 21.5 | 30.3 % |
| BN Agrochem Ltd | 1,898 | 111 | 4.44 % |
| Pervasive Commodities Ltd | 1,049 | 22.1 % | |
| RRP Defense Ltd | 843 | -11.1 % | |
| Yamuna Syndicate Ltd | 784 | 8.56 | 4.17 % |
| Shiv Aum Steels Ltd | 742 | 77.9 | 8.20 % |
| State Trading Corporation of India Ltd | 644 | 13.3 | % |
| Arvaya Healthcare Ltd | 600 | 451 | % |
| SMT Engineering Ltd | 596 | 24.3 | 25.4 % |
| HP Telecom India Ltd | 528 | 20.7 | 19.9 % |
| Riddhi Siddhi Gluco Biols Ltd | 527 | 37.2 | 2.74 % |
| Oswal Agro Mills Ltd | 474 | 2.03 % | |
| Filtron Engineers Ltd | 457 | 79.4 | 9.87 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-09-23 | Dividend - Re 0.50 Per Share | |
| 2025-09-23 | Dividend - Re 0.50 Per Share | |
| 2024-09-23 | Dividend - Re 0.50 Per Share | |
| 2023-09-18 | Annual General Meeting/Dividend - Rs 0.50 Per Share | |
| 2022-09-22 | Dividend - Rs 0.5 Per Share | |
| 2021-09-21 | Dividend - Rs 0.5 Per Sh | |
| 2020-09-24 | Dividend - Rs 0.50 Per Share | |
| 2019-09-19 | Dividend - Rs 0.5 Per Share |
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.
Long Term Additional Surveillance Measure (Long Term ASM): stage 1