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 | 7 | 6 | 8 | 6 | 5 | 4 | 4 | 3 | 9 | 7 | 11 | 6 |
| Expenses | 7 | 4 | 7 | 4 | 3 | 4 | 7 | 3 | 4 | 4 | 9 | -6 |
| Operating Profit | -0 | 2 | 1 | 3 | 2 | 0 | -3 | 0 | 5 | 4 | 2 | 12 |
| OPM % | -5% | 35% | 11% | 40% | 34% | 2.7% | -66% | 8% | 56% | 48% | 20% | 202% |
| Other Income | 0 | 0 | -0 | 0 | 0 | 0 | 3 | 3 | 1 | 2 | 3 | 2 |
| Interest | 1 | 1 | 1 | 0 | 1 | 1 | 2 | 1 | 1 | 1 | -1 | 0 |
| Depreciation | 2 | 1 | 2 | 2 | 2 | 2 | 0 | 1 | 1 | 1 | 3 | 2 |
| Profit before tax | -3 | 1 | -3 | 1 | -0 | -3 | -2 | 2 | 4 | 4 | 4 | 11 |
| Tax % | -2% | 10% | -14% | 9% | 0% | 0% | -29% | 0% | 12% | 16% | 71% | 1% |
| Net Profit | -3 | 1 | -3 | 1 | -0 | -3 | -2 | 2 | 4 | 3 | 1 | 11 |
| EPS in Rs | -0.23 | 0.05 | -0.22 | 0.06 | -0.04 | -0.20 | -0.12 | 0.15 | 0.30 | 0.20 | 0.07 | 0.74 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 10 | 8 | 7 | 8 | 11 | 8 | 8 | 13 | 27 | 20 | 31 | 33 |
| Expenses | 6 | 6 | 6 | 5 | 9 | 8 | 9 | 12 | 22 | 19 | 20 | 11 |
| Operating Profit | 4 | 2 | 1 | 3 | 2 | 0 | -1 | 1 | 6 | 2 | 11 | 22 |
| OPM % | 36% | 29% | 18% | 32% | 16% | 1.9% | -10% | 8% | 20% | 8% | 36% | 68% |
| Other Income | 3 | 1 | 4 | 0 | -25 | 1 | 1 | -1 | 0 | 3 | 9 | 8 |
| Interest | 2 | 1 | 1 | 1 | 0 | 1 | 1 | 3 | 3 | 4 | 1 | -0 |
| Depreciation | 4 | 2 | 4 | 5 | 4 | 4 | 3 | 3 | 8 | 5 | 6 | 7 |
| Profit before tax | 0 | 1 | 0 | -3 | -28 | -4 | -4 | -6 | -4 | -4 | 13 | 23 |
| Tax % | -11% | 48% | 36% | -9% | -1% | 1% | -7% | 8% | -10% | -15% | 27% | |
| Net Profit | 0 | 0 | 0 | -2 | -27 | -4 | -4 | -6 | -4 | -4 | 10 | 19 |
| EPS in Rs | 0.05 | 0.07 | 0.03 | -0.38 | -3.05 | -0.47 | -0.32 | -0.48 | -0.30 | -0.29 | 0.64 | 1.31 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 12% | 30% | 32% | 94% | ||
| Compounded Profit Growth | 42% | 34% | 64% | 813% | ||
| Stock Price CAGR | 9% | 61% | 98% | 36% | ||
| Return on Equity | -2% | -1% | 1% | 5% |
| 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 | 39 | 39 | 39 | 39 | 39 | 56 | 56 | 80 | 80 | 80 | 128 | 153 |
| Reserves | 51 | 51 | 51 | 47 | 58 | 41 | 50 | 38 | 33 | 29 | 25 | 55 |
| Borrowings | 15 | 19 | 19 | 43 | 23 | 17 | 24 | 20 | 36 | 41 | 12 | 13 |
| Other Liabilities | 46 | 36 | 35 | 26 | 24 | 24 | 19 | 18 | 14 | 10 | 8 | 23 |
| Total Liabilities | 150 | 144 | 144 | 155 | 144 | 139 | 149 | 156 | 163 | 160 | 173 | 244 |
| Fixed Assets | 35 | 35 | 50 | 45 | 42 | 42 | 41 | 38 | 46 | 56 | 51 | 57 |
| CWIP | 56 | 59 | 43 | 42 | 42 | 38 | 38 | 39 | 39 | 21 | 22 | 49 |
| Investments | 0 | 6 | 15 | 19 | 19 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 59 | 46 | 37 | 49 | 41 | 59 | 70 | 79 | 78 | 83 | 100 | 138 |
| Total Assets | 150 | 144 | 144 | 155 | 144 | 139 | 149 | 156 | 163 | 160 | 173 | 244 |
| 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 | 1 | -4 | 2 | 7 | 3 | -49 | 1 | -18 | 9 | -2 | -30 | 48 |
| Cash from Investing Activity | -6 | -8 | -10 | -3 | -1 | 18 | -1 | -1 | -11 | 1 | -2 | -59 |
| Cash from Financing Activity | 4 | 3 | 7 | -3 | -2 | 34 | 1 | 17 | 4 | 1 | 34 | 6 |
| Net Cash Flow | -2 | -9 | -0 | 1 | -1 | 3 | 1 | -1 | 1 | -1 | 1 | -5 |
| Free Cash Flow | -12 | -10 | 0 | 6 | 2 | -50 | 1 | -19 | -2 | -1 | -33 | -2 |
| CFO/OP | 14% | -117% | 92% | 570% | 113% | -2,960% | 500% | 2,142% | 886% | -37% | -1,985% | 467% |
| 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 | 244 | 345 | 433 | 466 | 444 | 122 | 130 | 281 | 50 | 35 | 36 | 45 |
| Inventory Days | 386 | 712 | 856 | |||||||||
| Days Payable | 1,295 | 2,300 | 1,014 | |||||||||
| Cash Conversion Cycle | 244 | 345 | 433 | 466 | 444 | -787 | -1,458 | 281 | 50 | 35 | 36 | -112 |
| Working Capital Days | 449 | 481 | 291 | 35 | 21 | 889 | 1,085 | 1,795 | 925 | 553 | 1,386 | 675 |
| ROCE % | 8% | 3% | 1% | -2% | -2% | -2% | -2% | -3% | -1% | -1% | -1% | 7% |
| 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 | 9.52% | 9.51% | 9.51% | 3.03% | 3.03% | 2.31% | 2.31% | 2.31% | 2.31% | 2.31% | 2.31% | 1.93% |
| FIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.19% | 0.25% | 1.19% | 0.87% | 0.25% | 1.05% |
| Public | 90.47% | 90.49% | 90.49% | 96.96% | 96.97% | 97.68% | 97.49% | 97.43% | 96.49% | 96.81% | 97.43% | 97.01% |
| No. of Shareholders | 6,457 | 7,133 | 9,469 | 12,545 | 14,651 | 19,616 | 17,783 | 16,394 | 15,656 | 15,314 | 15,431 | 16,338 |
Fundamentals
Market Cap₹ 1,504 Cr.
Current Price₹ 98.2
Stock P/E77.9
Book Value₹ 13.6
ROCE7.26 %
ROE5.47 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)94%
Compounded Profit Growth (TTM)813%
Consolidated figures.
Valuation
Market capRs 1,491 Cr
Enterprise valueRs 1,502 Cr
P/E (TTM)77.20x
Price to book7.16x
Price to sales45.33x
EV / EBITDA50.12x
EV / EBIT65.25x
EV / sales45.67x
Price to cash flow31.03x
Earnings yield1.30%
P/E, 3-year average131.30x
P/B, 3-year average3.12x
P/E, 5-year average131.30x
P/B, 5-year average2.25x
Profitability
Operating margin (excl. other income)35.82%
Operating margin (incl. other income)66.93%
EBITDA margin91.12%
Pre-tax margin70.05%
Net profit margin58.71%
Net margin, latest quarter198.43%
ROE5.47%
ROCE7.26%
ROA4.74%
ROE, 3-year average-0.30%
ROCE, 3-year average1.86%
ROA, 3-year average0.02%
ROE, 5-year average-1.98%
ROCE, 5-year average0.14%
ROA, 5-year average-1.30%
ROIC (approx.)7.69%
Tax rate26.71%
Other income / net worth4.56%
Growth
Sales growth (latest year)52.17%
Sales CAGR, 3 years31.85%
Sales CAGR, 5 years30.37%
Sales growth QoQ-48.93%
Profit growth QoQ980.95%
Sales growth YoY (latest quarter)70.75%
Profit growth YoY (latest quarter)488.08%
Per share
EPS (TTM)Rs 1.26
EPS (latest year)Rs 0.64
EPS (latest quarter)Rs 0.74
EPS, 3-year averageRs -0.04
EPS, 5-year averageRs -0.28
Book value per shareRs 13.58
Sales per shareRs 2.14
Cash flow per shareRs 3.13
Free cash flow per shareRs -0.13
Efficiency
Asset turnover0.12x
Fixed asset turnover0.53x
Inventory turnover0.98x
Inventory days372 days
Debtor days45 days
Debtors turnover8.11x
Creditor days1014 days
Cash conversion cycle-112 days
Working capital days675 days
Leverage
Total debtRs 13 Cr
Cash and bankRs 2 Cr
Net debtRs 11 Cr
Debt to equity0.06x
Net debt / EBITDA0.37x
Owners' fund to total sources85.31%
Debt to assets5.44%
Cash flow
Cash from Operating Activity (latest year)Rs 48 Cr
Cash from Investing Activity (latest year)Rs -59 Cr
Cash from Financing Activity (latest year)Rs 6 Cr
Net Cash Flow (latest year)Rs -5 Cr
Free cash flow (latest year)Rs -2 Cr
FCFE (approx.: FCF + change in debt)Rs -0 Cr
Sales to cash flow0.64x
Statement figures
Net sales (TTM)Rs 33 Cr
Net sales (latest year)Rs 31 Cr
Sales (latest quarter)Rs 6 Cr
Operating profit excl. other income (latest year)Rs 11 Cr
Operating profit (latest quarter)Rs 12 Cr
Other income (TTM)Rs 8 Cr
EBITDA (TTM)Rs 30 Cr
PBDT (TTM)Rs 30 Cr
Profit before tax (TTM)Rs 23 Cr
Tax (latest year)Rs 4 Cr
Net profit (TTM)Rs 19 Cr
Net profit (latest year)Rs 10 Cr
Net profit (latest quarter)Rs 11 Cr
Depreciation (TTM)Rs 7 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs -0 Cr
Cost of goods sold (latest year)Rs 11 Cr
Total expenditure (latest year)Rs 20 Cr
Total income (latest year)Rs 40 Cr
Share capitalRs 153 Cr
ReservesRs 55 Cr
Shareholders' fundsRs 208 Cr
Total assetsRs 244 Cr
Net blockRs 57 Cr
Capital work in progressRs 49 Cr
ReceivablesRs 4 Cr
InventoryRs 11 Cr
Other liabilitiesRs 23 Cr
Shares outstanding (crore)15.34
Ownership
Promoter holding1.93% (-0.38 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/B 7.16 is at the 90th percentile (median 1.95).
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 | GNRL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -0.9% | -2.8% | +1.8 pts |
| 1 month | +1.7% | -6.8% | +8.5 pts |
| 3 months | -5.3% | -7.6% | +2.3 pts |
| 3 years | +671.9% | +14.2% | +657.7 pts |
| 5 years | +981.0% | +27.9% | +953.1 pts |
Red flags
F-score 7 of 8| explain | Receivables outrunning sales Receivables grew 89% vs sales +52% in 2026 |
| look | Share dilution Share count up 19% in a year, 19% in three |
| look | Profit leans on other income Other income was 70% of pre-tax profit in 2026 |
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 ₹6 Cr +100.0% vs Jun 2025.
Net profit ₹11 Cr +450.0%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Oil & Natural Gas Corpn Ltd | 289,346 | 6.62 | 14.2 % |
| Oil India Ltd | 74,734 | 8.95 | 11.5 % |
| Vedanta Oil and Gas Ltd | 13,280 | 61.8 | % |
| Antelopus Selan Energy Ltd | 4,104 | 29.3 | 19.9 % |
| Prabha Energy Ltd | 3,525 | 3,204 | -0.09 % |
| Hindustan Oil Exploration Company Ltd | 2,299 | 91.5 | 3.49 % |
| Date | Client | Side | Qty | Price |
|---|---|---|---|---|
| 2026-09-28 | Achintya Securities Limited | SELL | 1,000,000 | 98.46 |
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.
Not on any NSE surveillance list in the latest file.