Price
Financials
Consolidated, Rs crore| Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 74 | 71 | 82 | 79 | 103 | 81 | 84 | 101 | 142 | 110 |
| Expenses | 66 | 62 | 71 | 69 | 88 | 70 | 72 | 87 | 121 | 96 |
| Operating Profit | 8 | 9 | 11 | 10 | 15 | 11 | 12 | 14 | 21 | 14 |
| OPM % | 11% | 13% | 14% | 13% | 14% | 13% | 14% | 13% | 15% | 13% |
| Other Income | 5 | 3 | 1 | 0 | 5 | 7 | 3 | 5 | 3 | 9 |
| Interest | 0 | 1 | 1 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 12 | 10 | 11 | 8 | 18 | 16 | 13 | 16 | 21 | 20 |
| Tax % | 20% | 26% | 21% | 13% | 28% | 21% | 20% | 24% | 24% | 17% |
| Net Profit | 9 | 7 | 9 | 7 | 13 | 12 | 10 | 12 | 16 | 17 |
| EPS in Rs | 3.27 | 2.58 | 3.01 | 1.89 | 3.48 | 3.26 | 2.70 | 3.22 | 4.27 | 4.44 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 154 | 154 | 155 | 205 | 255 | 278 | 335 | 407 | 436 |
| Expenses | 137 | 137 | 137 | 182 | 226 | 239 | 290 | 349 | 376 |
| Operating Profit | 17 | 17 | 19 | 22 | 29 | 39 | 45 | 57 | 60 |
| OPM % | 11% | 11% | 12% | 11% | 11% | 14% | 14% | 14% | 14% |
| Other Income | 2 | 3 | 4 | 5 | 6 | 9 | 9 | 17 | 19 |
| Interest | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 2 | 3 |
| Depreciation | 3 | 3 | 4 | 4 | 4 | 5 | 5 | 7 | 7 |
| Profit before tax | 13 | 14 | 17 | 22 | 29 | 41 | 47 | 65 | 70 |
| Tax % | 27% | 27% | 31% | 22% | 23% | 25% | 23% | 22% | |
| Net Profit | 9 | 11 | 12 | 17 | 22 | 31 | 36 | 50 | 55 |
| EPS in Rs | 25.39 | 29.81 | 31.36 | 45.54 | 59.29 | 10.94 | 9.59 | 13.45 | 14.63 |
| Dividend Payout % | 0% | 0% | 13% | 9% | 7% | 5% | 16% | 11% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 21% | 17% | 26% | ||
| Compounded Profit Growth | % | 33% | 31% | 35% | ||
| Stock Price CAGR | % | % | % | 25% | ||
| Return on Equity | % | 14% | 13% | 12% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 28 | 37 | 37 |
| Reserves | 84 | 91 | 101 | 117 | 138 | 163 | 331 | 368 |
| Borrowings | 15 | 32 | 20 | 25 | 48 | 34 | 23 | 29 |
| Other Liabilities | 31 | 42 | 33 | 44 | 40 | 50 | 52 | 77 |
| Total Liabilities | 134 | 169 | 158 | 190 | 230 | 276 | 444 | 510 |
| Fixed Assets | 42 | 62 | 57 | 60 | 64 | 91 | 98 | 110 |
| CWIP | 0 | 0 | 0 | 0 | 2 | 1 | 3 | 23 |
| Investments | 14 | 13 | 12 | 19 | 20 | 29 | 35 | 43 |
| Other Assets | 77 | 94 | 88 | 110 | 145 | 154 | 309 | 334 |
| Total Assets | 134 | 169 | 158 | 190 | 230 | 276 | 444 | 510 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 13 | 10 | 12 | 11 | -5 | 36 | 9 | 23 |
| Cash from Investing Activity | -5 | -23 | 6 | -15 | -13 | -36 | -18 | -40 |
| Cash from Financing Activity | -8 | 14 | -16 | 3 | 20 | 3 | 129 | -12 |
| Net Cash Flow | 0 | 1 | 2 | -2 | 1 | 3 | 119 | -29 |
| Free Cash Flow | 10 | -13 | 10 | -0 | -14 | 5 | -6 | -18 |
| CFO/OP | 97% | 85% | 88% | 68% | 3% | 120% | 43% | 65% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 80 | 82 | 101 | 90 | 100 | 87 | 92 | 115 |
| Inventory Days | 150 | 220 | 130 | 138 | 128 | 132 | 142 | 119 |
| Days Payable | 71 | 103 | 84 | 96 | 61 | 77 | 59 | 75 |
| Cash Conversion Cycle | 158 | 199 | 148 | 132 | 167 | 143 | 175 | 159 |
| Working Capital Days | 69 | 66 | 86 | 70 | 75 | 81 | 113 | 114 |
| ROCE % | 14% | 15% | 16% | 18% | 20% | 15% | 16% |
| Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|
| Promoters | 69.70% | 69.70% | 69.70% | 69.70% | 69.70% | 69.76% | 69.76% |
| FIIs | 1.38% | 0.02% | 0.67% | 0.57% | 0.14% | 0.41% | 0.72% |
| DIIs | 8.56% | 8.98% | 7.92% | 7.50% | 6.80% | 8.13% | 8.42% |
| Public | 20.36% | 21.31% | 21.71% | 22.23% | 22.55% | 20.90% | 20.31% |
| Others | 0.00% | 0.00% | 0.00% | 0.00% | 0.80% | 0.80% | 0.80% |
| No. of Shareholders | 23,737 | 23,281 | 22,455 | 23,168 | 22,662 | 22,256 | 21,849 |
Fundamentals
Market Cap₹ 1,678 Cr.
Current Price₹ 448
Stock P/E30.4
Book Value₹ 108
ROCE15.8 %
ROE12.4 %
Dividend Yield0.33 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)26%
Compounded Profit Growth (TTM)35%
Consolidated figures.
Valuation
Market capRs 1,301 Cr
Enterprise valueRs 1,328 Cr
P/E (TTM)23.77x
Price to book6.82x
Price to sales2.98x
EV / EBITDA16.75x
EV / EBIT18.40x
EV / sales3.05x
Price to cash flow35.77x
Earnings yield4.21%
Dividend yield0.11%
Profitability
Operating margin (excl. other income)13.97%
Operating margin (incl. other income)17.04%
EBITDA margin18.18%
Pre-tax margin15.97%
Net profit margin12.56%
Net margin, latest quarter15.08%
ROE18.43%
ROCE20.63%
ROA12.12%
ROE, 3-year average16.79%
ROCE, 3-year average18.80%
ROA, 3-year average10.83%
ROE, 5-year average14.86%
ROCE, 5-year average17.10%
ROA, 5-year average9.40%
ROIC (approx.)24.90%
Tax rate25.02%
Other income / net worth4.47%
Growth
Sales growth (latest year)9.13%
Profit growth (latest year)38.36%
Sales CAGR, 3 years21.45%
Sales CAGR, 5 years12.56%
Profit CAGR, 3 years37.79%
Profit CAGR, 5 years26.43%
Sales growth QoQ-22.22%
Profit growth QoQ3.88%
Sales growth YoY (latest quarter)36.49%
Profit growth YoY (latest quarter)36.26%
Per share
EPS (TTM)Rs 19.54
EPS (latest year)Rs 10.94
EPS (latest quarter)Rs 5.93
EPS, 3-year averageRs 38.59
EPS, 5-year averageRs 35.39
Book value per shareRs 68.06
Sales per shareRs 155.62
Cash flow per shareRs 12.98
Free cash flow per shareRs -6.42
Dividend per share (latest year)Rs 0.50
Dividend per share, 3-year averageRs 2.84
Dividend per share, 5-year averageRs 3.13
Dividends
Dividend payout4.57%
Dividend payout, 3-year average6.72%
Dividend payout, 5-year average8.24%
Efficiency
Asset turnover1.01x
Fixed asset turnover3.06x
Inventory turnover3.47x
Inventory days105 days
Debtor days87 days
Debtors turnover4.17x
Creditor days75 days
Cash conversion cycle159 days
Working capital days114 days
Leverage
Total debtRs 34 Cr
Cash and bankRs 8 Cr
Net debtRs 27 Cr
Debt to equity0.18x
Net debt / EBITDA0.34x
Interest coverage28.64x
Current ratio (filing 2026-03-31)3.28x
Quick ratio (filing 2026-03-31)2.53x
Trade payables (filing 2026-03-31)Rs 47 Cr
Owners' fund to total sources69.21%
Debt to assets12.50%
Cash flow
Cash from Operating Activity (latest year)Rs 36 Cr
Cash from Investing Activity (latest year)Rs -36 Cr
Cash from Financing Activity (latest year)Rs 3 Cr
Net Cash Flow (latest year)Rs 3 Cr
Free cash flow (latest year)Rs -18 Cr
FCFE (approx.: FCF + change in debt)Rs -32 Cr
Cash from ops / profit, 5 years0.47x
Sales to cash flow7.65x
Statement figures
Net sales (TTM)Rs 436 Cr
Net sales (latest year)Rs 278 Cr
Sales (latest quarter)Rs 110 Cr
Operating profit excl. other income (latest year)Rs 39 Cr
Operating profit (latest quarter)Rs 14 Cr
Other income (TTM)Rs 19 Cr
EBITDA (TTM)Rs 79 Cr
PBDT (TTM)Rs 77 Cr
Profit before tax (TTM)Rs 70 Cr
Tax (latest year)Rs 10 Cr
Net profit (TTM)Rs 55 Cr
Net profit (latest year)Rs 31 Cr
Net profit (latest quarter)Rs 17 Cr
Depreciation (TTM)Rs 7 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 3 Cr
Cost of goods sold (latest year)Rs 185 Cr
Total expenditure (latest year)Rs 239 Cr
Total income (latest year)Rs 287 Cr
Share capitalRs 28 Cr
ReservesRs 163 Cr
Shareholders' fundsRs 191 Cr
Total assetsRs 276 Cr
Net blockRs 91 Cr
Capital work in progressRs 1 Cr
InvestmentsRs 29 Cr
ReceivablesRs 67 Cr
InventoryRs 53 Cr
Other liabilitiesRs 50 Cr
Shares outstanding (crore)2.80
Ownership
Promoter holding69.76% (+0.06 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 23.8 is at the 60th percentile of its own 2.1-year range
(median 23.1, low 14.8, high 58.5).
P/B 6.82 is at the 68th percentile (median 6.47).
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 | DIFFNKG | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +8.7% | -2.8% | +11.5 pts |
| 1 month | -2.7% | -6.8% | +4.0 pts |
| 3 months | +11.5% | -7.6% | +19.2 pts |
| 6 months | +85.9% | +0.4% | +85.5 pts |
| 1 year | +27.1% | -9.9% | +37.0 pts |
2 mutual fund schemes hold about ₹45 Cr.
Over three months 0 bought more and 1 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| HDFC Defence Fund | 0.24% | 27 | -6% |
| HDFC Dividend Yield Fund | 0.31% | 17 | +4% |
Red flags
F-score 6 of 8| explain | Share dilution Share count up 657% in a year, 657% 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 2026Sales ₹110 Cr +35.8% vs Jun 2025.
Net profit ₹17 Cr +41.7%.
Activity
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|---|---|---|---|
| HBL Engineering Ltd | 22,406 | 28.0 | 59.3 % |
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| Harsha Engineers International Ltd | 4,234 | 27.4 | 13.0 % |
| Ador Welding Ltd | 2,812 | 23.5 | 22.7 % |
| Sahasra Electronic Solutions Ltd | 1,082 | 76.2 | 6.04 % |
| MIC Electronics Ltd | 1,068 | 8.67 % | |
| Tankup Engineers Ltd | 910 | 190 | 19.0 % |
| Vilas Transcore Ltd | 895 | 23.2 | 15.9 % |
| Oriental Rail Infrastructure Ltd | 826 | 17.5 | 12.0 % |
| Technocrats Plasma Systems Ltd | 708 | 47.4 | 67.0 % |
| Hy-Tech Engineers Ltd | 660 | 28.8 | 23.9 % |
| Mallcom (India) Ltd | 589 | 22.0 | 11.6 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-08-25 | Dividend - Rs 1.50 Per Share | |
| 2025-07-10 | Annual General Meeting/Dividend - Rs 1.50 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.
High low price variation greater than 100perc in previous 6 months