Price
Financials
Standalone, 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 | 19.50 | 0.07 | 61.50 | 6.04 | -1.08 | 4.67 | 10.82 | 3.57 | 0.86 | 0.29 | 2.12 | 0.00 |
| Expenses | 17.82 | 0.59 | 59.27 | 5.46 | 5.23 | 6.26 | 8.20 | 4.98 | 5.45 | 5.74 | 9.38 | 0.64 |
| Operating Profit | 1.68 | -0.52 | 2.23 | 0.58 | -6.31 | -1.59 | 2.62 | -1.41 | -4.59 | -5.45 | -7.26 | -0.64 |
| OPM % | 8.62% | -742.86% | 3.63% | 9.60% | -34.05% | 24.21% | -39.50% | -533.72% | -1,879.31% | -342.45% | ||
| Other Income | 3.35 | 1.56 | 1.17 | 1.33 | 1.16 | 1.00 | 1.08 | 1.08 | 1.12 | 1.14 | 1.90 | 1.02 |
| Interest | 0.00 | 0.00 | 0.08 | 0.02 | 0.00 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | -0.02 | 0.00 |
| Depreciation | 0.01 | 0.22 | 0.09 | 0.09 | 0.09 | 0.10 | 0.09 | 0.09 | 0.09 | 0.09 | 1.74 | 1.24 |
| Profit before tax | 5.02 | 0.82 | 3.23 | 1.80 | -5.24 | -0.71 | 3.59 | -0.44 | -3.58 | -4.42 | -7.08 | -0.86 |
| Tax % | -1.59% | -39.02% | 17.65% | 27.78% | -27.48% | 0.00% | 25.91% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Profit | 5.10 | 1.14 | 2.66 | 1.30 | -3.81 | -0.71 | 2.66 | -0.44 | -3.58 | -4.43 | -7.07 | -0.87 |
| EPS in Rs | 0.12 | 0.03 | 0.06 | 0.03 | -0.09 | -0.02 | 0.06 | -0.01 | -0.09 | -0.11 | -0.17 | -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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 75 | 93 | 20 | 7 | 3 |
| Expenses | 0 | 5 | 0 | 0 | 0 | 0 | 0 | 74 | 92 | 24 | 26 | 21 |
| Operating Profit | -0 | -5 | -0 | -0 | -0 | 0 | -0 | 2 | 2 | -4 | -19 | -18 |
| OPM % | 0.0% | -28% | 2.1% | 1.6% | -18% | -278% | -549% | |||||
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 8 | 5 | 5 | 5 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 3 |
| Profit before tax | -0 | -5 | -0 | -0 | -0 | 0 | 0 | 7 | 10 | 0 | -16 | -16 |
| Tax % | 147% | 0% | 0% | 0% | 0% | 0% | 25% | 2% | 25% | 0% | ||
| Net Profit | -0 | -5 | -0 | -0 | -0 | 0 | 0 | 5 | 9 | 0 | -16 | -16 |
| EPS in Rs | -0.01 | -0.15 | -0.00 | -0.00 | -0.00 | 0.00 | 0.01 | 0.13 | 0.23 | 0.01 | -0.38 | -0.39 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 138% | -55% | -82% | ||
| Compounded Profit Growth | % | % | % | -607% | ||
| Stock Price CAGR | -2% | 5% | -54% | -44% | ||
| Return on Equity | -2% | -1% | -2% | -11% |
| 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 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 40 | 42 | 42 | 42 |
| Reserves | -1 | -1 | -6 | -6 | -6 | -6 | -6 | 11 | 56 | 104 | 112 | 96 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Other Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16 | 52 | 11 | 28 |
| Total Liabilities | 30 | 29 | 24 | 24 | 24 | 24 | 24 | 41 | 112 | 200 | 166 | 166 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 2 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 | 22 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 15 | 15 | 6 |
| Other Assets | 30 | 29 | 24 | 24 | 24 | 24 | 24 | 41 | 100 | 183 | 142 | 135 |
| Total Assets | 30 | 29 | 24 | 24 | 24 | 24 | 24 | 41 | 112 | 200 | 166 | 166 |
| 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 | -0 | -0 | 0 | -0 | -0 | 0 | -5 | -53 | -42 | -4 | -5 |
| Cash from Investing Activity | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8 | 1 | -3 | 5 |
| Cash from Financing Activity | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17 | 50 | 40 | 8 | 0 |
| Net Cash Flow | 0 | -0 | 0 | 0 | -0 | -0 | 0 | 12 | -11 | -1 | -0 | -0 |
| Free Cash Flow | 0 | -0 | -0 | 0 | -0 | -0 | 0 | -5 | -53 | -43 | -12 | -3 |
| CFO/OP | -17% | 142% | 3% | -25% | 44% | 11% | 9,740% | -3,213% | -2,833% | 113% | 26% |
| 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 | 0 | 0 | 27 | 271 | 439 | 938 | ||||||
| Inventory Days | 0 | 0 | 0 | |||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 0 | 0 | 27 | 271 | 439 | 938 | ||||||
| Working Capital Days | -122 | 17,114 | 299 | 393 | 2,155 | 5,383 | ||||||
| ROCE % | -0% | -1% | -18% | -0% | -0% | -0% | 0% | 0% | 8% | 5% | 0% | -11% |
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 0.08% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
| FIIs | 1.32% | 0.36% | 0.60% | 1.17% | 0.81% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| DIIs | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Public | 98.58% | 99.55% | 99.31% | 98.74% | 99.10% | 99.38% | 99.91% | 99.91% | 99.90% | 99.91% | 99.91% | 99.92% |
| No. of Shareholders | 36,542 | 38,185 | 39,473 | 56,556 | 65,434 | 88,703 | 1,70,575 | 1,63,135 | 1,57,645 | 1,53,877 | 1,49,867 | 1,45,724 |
Fundamentals
Market Cap₹ 93.8 Cr.
Current Price₹ 2.27
Book Value₹ 3.33
ROCE-11.0 %
ROE-11.1 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-82%
Compounded Profit Growth (TTM)-607%
Standalone figures.
Valuation
Market capRs 88 Cr
Enterprise valueRs 88 Cr
Price to book0.64x
Price to sales12.87x
EV / sales12.86x
Earnings yield-18.04%
P/E, 3-year average324.71x
P/B, 3-year average2.64x
P/E, 5-year average726.70x
P/B, 5-year average7.00x
Profitability
Operating margin (excl. other income)-278.17%
Operating margin (incl. other income)-201.75%
EBITDA margin-186.03%
Pre-tax margin-232.02%
Net profit margin-232.17%
ROE-10.86%
ROCE-10.83%
ROA-9.56%
ROE, 3-year average-0.95%
ROCE, 3-year average-0.84%
ROA, 3-year average-1.11%
ROE, 5-year average1.16%
ROCE, 5-year average1.75%
ROA, 5-year average0.90%
ROIC (approx.)-11.53%
Other income / net worth3.80%
Growth
Sales growth (latest year)-66.42%
Profit growth (latest year)-5062.50%
Sales CAGR, 3 years-54.95%
Sales CAGR, 5 years137.98%
Per share
EPS (TTM)Rs -0.39
EPS (latest quarter)Rs -0.02
EPS, 3-year averageRs 0.12
EPS, 5-year averageRs 0.09
Book value per shareRs 3.35
Sales per shareRs 0.17
Cash flow per shareRs -0.12
Free cash flow per shareRs -0.07
Efficiency
Asset turnover0.04x
Fixed asset turnover2.96x
Debtor days938 days
Debtors turnover0.39x
Cash conversion cycle938 days
Working capital days5383 days
Leverage
Cash and bankRs 0 Cr
Net debtRs -0 Cr
Owners' fund to total sources83.09%
Cash flow
Cash from Operating Activity (latest year)Rs -5 Cr
Cash from Investing Activity (latest year)Rs 5 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs -3 Cr
Statement figures
Net sales (TTM)Rs 7 Cr
Net sales (latest year)Rs 7 Cr
Operating profit excl. other income (latest year)Rs -19 Cr
Operating profit (latest quarter)Rs -1 Cr
Other income (TTM)Rs 5 Cr
EBITDA (TTM)Rs -13 Cr
PBDT (TTM)Rs -13 Cr
Profit before tax (TTM)Rs -16 Cr
Net profit (TTM)Rs -16 Cr
Net profit (latest year)Rs -16 Cr
Net profit (latest quarter)Rs -1 Cr
Depreciation (TTM)Rs 3 Cr
Depreciation (latest quarter)Rs 1 Cr
Cost of goods sold (latest year)Rs 1 Cr
Total expenditure (latest year)Rs 26 Cr
Total income (latest year)Rs 12 Cr
Share capitalRs 42 Cr
ReservesRs 96 Cr
Shareholders' fundsRs 138 Cr
Total assetsRs 166 Cr
Net blockRs 2 Cr
Capital work in progressRs 22 Cr
InvestmentsRs 6 Cr
ReceivablesRs 18 Cr
Other liabilitiesRs 28 Cr
Shares outstanding (crore)41.31
Ownership
Promoter holding0.07% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 0.65 is at the 22th percentile (median 2.46).
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 | CRSL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -14.4% | -2.8% | -11.6 pts |
| 1 month | -25.7% | -6.8% | -18.9 pts |
| 3 years | -91.1% | +14.2% | -105.3 pts |
| 5 years | +15.7% | +27.9% | -12.2 pts |
Red flags
F-score 3 of 8| explain | Receivables outrunning sales Receivables grew -28% vs sales -66% 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 ₹0 Cr -100.0% vs Jun 2025.
Net loss ₹1 Cr.
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 1Under BZ/SZ Series