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 | 0.00 | 0.31 | 1.56 | 0.45 | 0.48 | 0.50 | 5.71 | 9.51 | 10.86 | 12.05 | 12.37 | 12.72 |
| Expenses | 0.27 | 0.35 | 0.71 | 0.43 | 0.81 | 0.58 | 3.39 | 9.11 | 10.41 | 11.27 | 10.88 | 12.16 |
| Operating Profit | -0.27 | -0.04 | 0.85 | 0.02 | -0.33 | -0.08 | 2.32 | 0.40 | 0.45 | 0.78 | 1.49 | 0.56 |
| OPM % | -12.90% | 54.49% | 4.44% | -68.75% | -16.00% | 40.63% | 4.21% | 4.14% | 6.47% | 12.05% | 4.40% | |
| Other Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.01 | 0.00 | 0.02 | 0.04 | 0.02 | 0.10 | 0.08 |
| Interest | 0.03 | 0.02 | 0.05 | 0.11 | 0.15 | 0.17 | 0.13 | 0.01 | 0.02 | 0.00 | 0.08 | 0.03 |
| Depreciation | 0.06 | 0.06 | 0.07 | 0.06 | 0.07 | 0.07 | 0.08 | 0.13 | 0.14 | 0.22 | 0.22 | 0.21 |
| Profit before tax | -0.36 | -0.12 | 0.73 | -0.15 | -0.53 | -0.31 | 2.11 | 0.28 | 0.33 | 0.58 | 1.29 | 0.40 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 25.59% | 7.14% | 33.33% | 36.21% | 24.81% | 25.00% |
| Net Profit | -0.36 | -0.13 | 0.74 | -0.16 | -0.52 | -0.30 | 1.57 | 0.26 | 0.22 | 0.36 | 0.97 | 0.30 |
| EPS in Rs | -0.03 | -0.01 | 0.07 | -0.02 | -0.05 | -0.03 | 0.15 | 0.03 | 0.02 | 0.03 | 0.09 | 0.03 |
| Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 105.94 | 294.58 | 551.25 | 560.34 | 74.46 | 129.67 | 0.00 | 1.50 | 1.87 | 7.14 | 44.79 | 48.00 |
| Expenses | 75.91 | 239.77 | 454.04 | 808.62 | 200.76 | 125.71 | 0.60 | 0.93 | 1.77 | 5.18 | 41.67 | 44.72 |
| Operating Profit | 30.03 | 54.81 | 97.21 | -248.28 | -126.30 | 3.96 | -0.60 | 0.57 | 0.10 | 1.96 | 3.12 | 3.28 |
| OPM % | 28.35% | 18.61% | 17.63% | -44.31% | -169.62% | 3.05% | 38.00% | 5.35% | 27.45% | 6.97% | 6.83% | |
| Other Income | 0.68 | 11.57 | 1.18 | 18.10 | 11.92 | 2.48 | -1.64 | 0.01 | 0.00 | 0.00 | 0.18 | 0.24 |
| Interest | 0.20 | 0.32 | 0.56 | 1.45 | 0.40 | 1.31 | 0.00 | 0.07 | 0.12 | 0.56 | 0.11 | 0.13 |
| Depreciation | 5.07 | 6.84 | 17.90 | 71.57 | 29.41 | 3.53 | 0.71 | 0.24 | 0.26 | 0.27 | 0.71 | 0.79 |
| Profit before tax | 25.44 | 59.22 | 79.93 | -303.20 | -144.19 | 1.60 | -2.95 | 0.27 | -0.28 | 1.13 | 2.48 | 2.60 |
| Tax % | 9.83% | 3.70% | 9.06% | -2.55% | 1.93% | 11.88% | 0.00% | 0.00% | 0.00% | 47.79% | 27.02% | |
| Net Profit | 22.94 | 57.03 | 72.69 | -295.48 | -146.98 | 1.41 | -2.95 | 0.27 | -0.28 | 0.58 | 1.81 | 1.85 |
| EPS in Rs | 17.40 | 20.87 | -84.41 | -41.99 | 0.21 | -0.29 | 0.03 | -0.03 | 0.06 | 0.18 | 0.17 | |
| Dividend Payout % | 12.03% | 11.59% | 9.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | % | 210% | 196% | ||
| Compounded Profit Growth | % | % | 89% | 83% | ||
| Stock Price CAGR | 31% | -25% | -5% | 9% | ||
| Return on Equity | % | 3% | 9% | 20% |
| Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13.97 | 16.64 | 34.99 | 35.15 | 35.15 | 49.15 | 10.31 | 10.31 | 10.31 | 10.31 | 10.31 |
| Reserves | 72.21 | 239.22 | 384.55 | 129.97 | -17.66 | -6.74 | -3.55 | -3.28 | -3.56 | -1.65 | -0.92 |
| Borrowings | 0.01 | 0.00 | 0.72 | 0.47 | 2.63 | 7.46 | 0.51 | 1.39 | 1.99 | 8.85 | 11.16 |
| Other Liabilities | 18.49 | 24.68 | 35.14 | 26.52 | 9.92 | 15.53 | 0.40 | 1.01 | 1.23 | 9.53 | 12.27 |
| Total Liabilities | 104.68 | 280.54 | 455.40 | 192.11 | 30.04 | 65.40 | 7.67 | 9.43 | 9.97 | 27.04 | 32.82 |
| Fixed Assets | 20.40 | 23.75 | 176.66 | 106.20 | 7.72 | 11.57 | 7.66 | 7.87 | 7.70 | 8.40 | 11.99 |
| CWIP | 0.79 | 35.85 | 31.61 | 0.10 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.22 | 0.00 |
| Investments | 2.71 | 23.66 | 15.96 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 80.78 | 197.28 | 231.17 | 85.81 | 22.32 | 53.83 | 0.01 | 1.56 | 2.27 | 17.42 | 20.83 |
| Total Assets | 104.68 | 280.54 | 455.40 | 192.11 | 30.04 | 65.40 | 7.67 | 9.43 | 9.97 | 27.04 | 32.82 |
| Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -6.12 | -25.90 | 60.95 | 78.03 | -14.72 | -13.00 | -0.16 | 0.38 | -1.02 | -0.57 | 1.95 |
| Cash from Investing Activity | -14.80 | -62.12 | -163.46 | -108.06 | -1.06 | -16.04 | -8.20 | -0.46 | -0.08 | -1.34 | -3.07 |
| Cash from Financing Activity | 39.50 | 117.66 | 109.94 | -10.62 | 2.16 | 33.34 | 8.33 | 0.81 | 0.48 | 6.74 | 2.35 |
| Net Cash Flow | 18.58 | 29.64 | 7.43 | -40.65 | -13.62 | 4.30 | -0.03 | 0.74 | -0.62 | 4.83 | 1.22 |
| Free Cash Flow | -18.42 | -74.23 | -87.22 | -29.73 | -15.19 | -20.35 | -8.36 | -0.08 | -1.10 | -1.91 | -1.13 |
| CFO/OP | -18% | -42% | 69% | -31% | 10% | -323% | 27% | 67% | -1,020% | -29% | 84% |
| Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 139.78 | 173.79 | 77.35 | 25.11 | 38.63 | 71.41 | 165.47 | 339.63 | 388.52 | 67.80 | |
| Inventory Days | |||||||||||
| Days Payable | |||||||||||
| Cash Conversion Cycle | 139.78 | 173.79 | 77.35 | 25.11 | 38.63 | 71.41 | 165.47 | 339.63 | 388.52 | 67.80 | |
| Working Capital Days | 151.18 | 153.99 | 99.26 | 28.12 | 47.06 | 89.20 | -51.10 | 175.67 | 405.90 | 70.41 | |
| ROCE % | 31.72% | 23.96% | -99.94% | -154.85% | 7.80% | 4.33% | -1.86% | 10.96% | 10.72% |
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 89.10% | 89.10% | 89.10% | 89.10% | 87.35% | 87.35% | 87.35% | 87.35% | 87.35% | 87.35% | 87.35% | 87.35% |
| Public | 10.91% | 10.90% | 10.90% | 10.90% | 12.65% | 12.64% | 12.64% | 12.65% | 12.64% | 12.64% | 12.66% | 12.65% |
| No. of Shareholders | 25,202 | 24,470 | 23,647 | 23,238 | 23,528 | 23,129 | 22,878 | 22,693 | 22,347 | 22,129 | 21,875 | 21,573 |
Fundamentals
Market Cap₹ 227 Cr.
Current Price₹ 22.9
Stock P/E123
Book Value₹ 0.91
ROCE10.7 %
ROE20.1 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)196%
Compounded Profit Growth (TTM)83%
Consolidated figures.
Valuation
Market capRs 226 Cr
Enterprise valueRs 231 Cr
P/E (TTM)122.19x
Price to book24.07x
Price to sales4.71x
EV / EBITDA66.01x
EV / EBIT85.25x
EV / sales4.81x
Price to cash flow115.92x
Earnings yield0.82%
P/E, 3-year average340.04x
P/B, 3-year average34.03x
P/E, 5-year average697.90x
P/B, 5-year average51.00x
Profitability
Operating margin (excl. other income)6.97%
Operating margin (incl. other income)7.37%
EBITDA margin7.29%
Pre-tax margin5.42%
Net profit margin3.85%
Net margin, latest quarter2.36%
ROE20.06%
ROCE13.61%
ROA6.05%
ROE, 3-year average7.84%
ROCE, 3-year average8.21%
ROA, 3-year average2.10%
ROE, 5-year average3.09%
ROCE, 5-year average3.73%
ROA, 5-year average0.28%
ROIC (approx.)13.76%
Tax rate27.02%
Other income / net worth1.92%
Growth
Sales growth (latest year)527.31%
Profit growth (latest year)212.07%
Sales CAGR, 3 years210.24%
Sales CAGR, 5 years-19.15%
Profit CAGR, 3 years88.56%
Profit CAGR, 5 years11.51%
Sales growth QoQ2.83%
Profit growth QoQ-69.07%
Sales growth YoY (latest quarter)33.75%
Profit growth YoY (latest quarter)15.38%
Per share
EPS (TTM)Rs 0.19
EPS (latest quarter)Rs 0.03
EPS, 3-year averageRs 0.01
EPS, 5-year averageRs -0.06
Book value per shareRs 0.95
Sales per shareRs 4.85
Cash flow per shareRs 0.20
Free cash flow per shareRs -0.11
Efficiency
Asset turnover1.36x
Fixed asset turnover3.74x
Debtor days68 days
Debtors turnover5.38x
Cash conversion cycle68 days
Working capital days70 days
Leverage
Total debtRs 11 Cr
Cash and bankRs 6 Cr
Net debtRs 5 Cr
Debt to equity1.19x
Net debt / EBITDA1.42x
Interest coverage24.64x
Owners' fund to total sources28.61%
Debt to assets34.00%
Cash flow
Cash from Operating Activity (latest year)Rs 2 Cr
Cash from Investing Activity (latest year)Rs -3 Cr
Cash from Financing Activity (latest year)Rs 2 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs -1 Cr
FCFE (approx.: FCF + change in debt)Rs 1 Cr
Sales to cash flow22.97x
Statement figures
Net sales (TTM)Rs 48 Cr
Net sales (latest year)Rs 45 Cr
Sales (latest quarter)Rs 13 Cr
Operating profit excl. other income (latest year)Rs 3 Cr
Operating profit (latest quarter)Rs 1 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 4 Cr
PBDT (TTM)Rs 3 Cr
Profit before tax (TTM)Rs 3 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 2 Cr
Net profit (latest year)Rs 2 Cr
Net profit (latest quarter)Rs 0 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 0 Cr
Total expenditure (latest year)Rs 42 Cr
Total income (latest year)Rs 45 Cr
Share capitalRs 10 Cr
ReservesRs -1 Cr
Shareholders' fundsRs 9 Cr
Total assetsRs 33 Cr
Net blockRs 12 Cr
ReceivablesRs 8 Cr
Other liabilitiesRs 12 Cr
Shares outstanding (crore)9.90
Ownership
Promoter holding87.35% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 127.2 is at the 86th percentile of its own 5.4-year range
(median 6.0, low 2.4, high 361.5).
P/B 25.07 is at the 62th percentile (median 20.95).
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 | EQUIPPP | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -0.2% | -2.8% | +2.6 pts |
| 1 month | +2.8% | -6.8% | +9.6 pts |
| 3 months | +6.2% | -7.6% | +13.8 pts |
| 6 months | +55.1% | +0.4% | +54.7 pts |
| 1 year | +8.9% | -9.9% | +18.8 pts |
| 2 years | +1.8% | -13.6% | +15.3 pts |
| 3 years | -14.3% | +14.2% | -28.5 pts |
| 5 years | -77.4% | +27.9% | -105.3 pts |
Red flags
F-score 6 of 8| explain | Weak cash conversion Cash from operations was 17% of net profit over the last 3 years |
| look | On NSE surveillance On NSE surveillance: GSM, Insolvency |
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 ₹13 Cr +33.8% vs Jun 2025.
Net profit ₹0 Cr +15.4%.
Activity
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| Tata Consultancy Services Ltd | 735,340 | 13.7 | 63.0 % |
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| LTM Ltd | 116,750 | 20.8 | 29.6 % |
| Persistent Systems Ltd | 81,431 | 40.9 | 34.4 % |
| Coforge Ltd | 76,291 | 39.8 | 23.5 % |
| Mphasis Ltd | 41,138 | 21.2 | 22.1 % |
| Hexaware Technologies Ltd | 29,457 | 20.8 | 30.1 % |
| Tata Elxsi Ltd | 20,011 | 28.4 | 30.0 % |
| KPIT Technologies Ltd | 14,247 | 22.8 | 26.3 % |
| IDream Film Infrastructure Company Ltd | 13,309 | % | |
| Fractal Analytics Ltd | 13,076 | 39.4 | 12.6 % |
| ASM Technologies Ltd | 10,020 | 137 | 27.0 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2024-09-23 | Annual General Meeting | |
| 2023-09-22 | Annual General Meeting | |
| 2022-12-23 | Annual General Meeting | |
| 2021-12-23 | Annual General Meeting |
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.
| Order date | Forum | Case |
|---|---|---|
| 2020-08-11 | NCLT | Barret Commodit Traders Pvt Ltd Vs Proseed india Ltd Vs |
| 2020-07-30 | NCLT | Barret Commodit Traders Pvt Ltd Vs Proseed india Ltd Vs |
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
GSMInsolvency Resolution Process(IRP)Less than 100 unique PAN traded in previous 30 daysScrip PE is greater than 50 (4 trailing quarters)