Price
Financials
Standalone, Rs crore| Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 36 | 53 | 48 | 60 | 68 | 72 | 91 |
| Expenses | 34 | 45 | 40 | 51 | 60 | 59 | 80 |
| Operating Profit | 1 | 8 | 8 | 8 | 8 | 13 | 11 |
| OPM % | 3.9% | 15% | 17% | 14% | 12% | 18% | 12% |
| Other Income | 0 | 0 | -0 | 0 | 1 | 0 | 0 |
| Interest | 0 | 1 | 2 | 1 | 2 | 2 | 3 |
| Depreciation | 0 | 0 | 1 | 1 | 2 | 3 | 4 |
| Profit before tax | 1 | 6 | 6 | 6 | 5 | 8 | 4 |
| Tax % | 27% | 25% | 30% | 25% | 34% | 25% | 37% |
| Net Profit | 1 | 5 | 4 | 5 | 3 | 6 | 3 |
| EPS in Rs | 0.71 | 3.56 | 3.17 | 2.64 | 1.82 | 3.23 | 1.54 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 4 | 15 | 28 | 55 | 101 | 128 | 163 |
| Expenses | 4 | 14 | 27 | 51 | 85 | 111 | 139 |
| Operating Profit | 0 | 0 | 1 | 4 | 16 | 16 | 24 |
| OPM % | 1.1% | 1.0% | 3.3% | 7% | 16% | 13% | 15% |
| Other Income | 0 | 0 | 0 | 0 | -0 | 1 | 1 |
| Interest | 0 | 0 | 0 | 1 | 3 | 3 | 5 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 3 | 7 |
| Profit before tax | 0 | 0 | 0 | 2 | 12 | 11 | 12 |
| Tax % | 33% | 29% | 27% | 27% | 27% | 29% | 29% |
| Net Profit | 0 | 0 | 0 | 2 | 9 | 8 | 9 |
| EPS in Rs | 20.00 | 100.00 | 0.94 | 1.28 | 6.73 | 4.46 | 4.77 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 62% | 44% | 28% | ||
| Compounded Profit Growth | % | 144% | 73% | 12% | ||
| Stock Price CAGR | % | % | % | 13% | ||
| Return on Equity | % | 16% | 16% | 10% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 4 | 13 | 13 | 18 | 18 |
| Reserves | 0 | 0 | 1 | 2 | 11 | 61 | 70 |
| Borrowings | 0 | 0 | 6 | 18 | 25 | 35 | 62 |
| Other Liabilities | 1 | 1 | 1 | 1 | 35 | 6 | 12 |
| Total Liabilities | 1 | 2 | 13 | 35 | 84 | 120 | 161 |
| Fixed Assets | 0 | 0 | 1 | 3 | 5 | 39 | 45 |
| CWIP | 0 | 0 | 0 | 0 | 3 | 0 | 4 |
| Investments | 0 | 0 | 0 | 3 | 3 | 3 | 5 |
| Other Assets | 1 | 2 | 12 | 30 | 73 | 79 | 107 |
| Total Assets | 1 | 2 | 13 | 35 | 84 | 120 | 161 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 0 | -9 | -15 | 4 | -23 | 5 | |
| Cash from Investing Activity | -0 | -1 | -5 | -7 | -33 | -20 | |
| Cash from Financing Activity | -0 | 11 | 19 | 4 | 56 | 21 | |
| Net Cash Flow | 0 | 2 | -1 | 2 | 0 | 7 | |
| Free Cash Flow | 0 | -9 | -18 | -3 | -56 | -12 | |
| CFO/OP | 93% | -921% | -413% | 47% | -124% | 37% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 81 | 26 | 71 | 91 | 176 | 38 | 35 |
| Inventory Days | 9 | 7 | 60 | 48 | 79 | 126 | 165 |
| Days Payable | 83 | 26 | 7 | 3 | 132 | 3 | 17 |
| Cash Conversion Cycle | 7 | 7 | 124 | 135 | 124 | 161 | 183 |
| Working Capital Days | 8 | 4 | 62 | 80 | 57 | 108 | 51 |
| ROCE % | 38% | 14% | 15% | 37% | 17% | 13% |
| Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|
| Promoters | 72.45% | 72.45% | 72.45% | 72.45% |
| Public | 27.55% | 27.55% | 27.55% | 27.55% |
| No. of Shareholders | 2,401 | 2,374 | 2,160 | 1,955 |
Fundamentals
Market Cap₹ 140 Cr.
Current Price₹ 77.2
Stock P/E16.2
Book Value₹ 48.4
ROCE13.4 %
ROE10.4 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)28%
Compounded Profit Growth (TTM)12%
Standalone figures.
Valuation
Market capRs 100 Cr
Enterprise valueRs 118 Cr
P/E (TTM)59.80x
Price to book6.56x
Price to sales1.84x
EV / EBITDA32.88x
EV / EBIT35.66x
EV / sales2.17x
Earnings yield1.67%
Profitability
Operating margin (excl. other income)6.53%
Operating margin (incl. other income)6.58%
EBITDA margin6.58%
Pre-tax margin4.24%
Net profit margin3.08%
ROE16.20%
ROCE14.64%
ROA7.04%
ROE, 3-year average51.51%
ROCE, 3-year average22.07%
ROA, 3-year average6.29%
ROIC (approx.)7.32%
Tax rate27.27%
Other income / net worth0.20%
Growth
Sales growth (latest year)96.89%
Profit growth (latest year)354.05%
Sales CAGR, 3 years132.29%
Profit CAGR, 3 years337.95%
Per share
EPS (TTM)Rs 1.28
EPS (latest year)Rs 1.28
EPS, 3-year averageRs 34.07
Book value per shareRs 11.65
Sales per shareRs 41.46
Cash flow per shareRs -11.67
Free cash flow per shareRs -9.13
Efficiency
Asset turnover1.57x
Fixed asset turnover21.55x
Inventory turnover7.74x
Inventory days47 days
Debtor days91 days
Debtors turnover4.02x
Creditor days17 days
Cash conversion cycle183 days
Working capital days51 days
Leverage
Total debtRs 18 Cr
Cash and bankRs 1 Cr
Net debtRs 18 Cr
Debt to equity1.18x
Net debt / EBITDA4.90x
Interest coverage3.31x
Owners' fund to total sources44.02%
Debt to assets52.07%
Cash flow
Cash from Operating Activity (latest year)Rs -15 Cr
Cash from Investing Activity (latest year)Rs -5 Cr
Cash from Financing Activity (latest year)Rs 19 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs -12 Cr
FCFE (approx.: FCF + change in debt)Rs -0 Cr
Cash from ops / profit, 5 years-1.36x
Statement figures
Net sales (TTM)Rs 55 Cr
Net sales (latest year)Rs 55 Cr
Operating profit excl. other income (latest year)Rs 4 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 4 Cr
PBDT (TTM)Rs 3 Cr
Profit before tax (TTM)Rs 2 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 2 Cr
Net profit (latest year)Rs 2 Cr
Depreciation (TTM)Rs 0 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 50 Cr
Total expenditure (latest year)Rs 51 Cr
Total income (latest year)Rs 55 Cr
Share capitalRs 13 Cr
ReservesRs 2 Cr
Shareholders' fundsRs 15 Cr
Total assetsRs 35 Cr
Net blockRs 3 Cr
InvestmentsRs 3 Cr
ReceivablesRs 14 Cr
InventoryRs 6 Cr
Other liabilitiesRs 1 Cr
Shares outstanding (crore)1.31
Ownership
Promoter holding72.45%
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 | DCG | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +7.5% | -2.8% | +10.3 pts |
| 1 month | +13.9% | -6.8% | +20.7 pts |
| 3 months | +51.1% | -7.6% | +58.8 pts |
| 6 months | +41.5% | +0.4% | +41.1 pts |
| 1 year | +13.8% | -9.9% | +23.7 pts |
| 2 years | -42.0% | -13.6% | -28.4 pts |
Red flags
F-score 3 of 8| explain | Weak cash conversion Cash from operations was -1105% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 49% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 152% vs sales +97% in 2026 |
| look | Share dilution Share count up 230% in a year, -100% in three |
| 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
Mar 2026Sales ₹91 Cr +89.6% vs Mar 2024.
Net profit ₹3 Cr -25.0%.
Activity
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| Paramount Communications Ltd | 1,892 | 31.0 | 12.4 % |
| Divine Power Energy Ltd | 1,546 | 57.9 | % |
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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 daysSME scrip is not regularly traded