MarketFriction

Heads UP Ventures Ltd

NSE HEADSUP · BSE 540210 · Trading - Textile Products
₹6.40 -5.19%
NSE close2026-10-01
52 week range5.69 - 12.95
Market cap₹14.3 Cr.
Price band 20% Delivery 54.0%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales0.030.000.160.000.000.151.2711.502.960.002.800.00
Expenses0.890.732.150.410.040.060.149.342.940.615.910.02
Operating Profit-0.86-0.73-1.99-0.41-0.040.091.132.160.02-0.61-3.11-0.02
OPM %-2,866.67%-1,243.75%60.00%88.98%18.78%0.68%-111.07%
Other Income0.100.020.040.180.320.170.170.751.030.000.000.00
Interest0.000.000.000.000.000.000.000.000.000.000.000.00
Depreciation0.020.020.010.000.000.000.010.000.000.000.000.00
Profit before tax-0.78-0.73-1.96-0.230.280.261.292.911.05-0.61-3.11-0.02
Tax %0.00%0.00%0.00%0.00%3.57%0.00%14.73%0.00%24.76%0.00%0.00%0.00%
Net Profit-0.78-0.72-1.96-0.230.270.261.102.910.78-0.61-3.11-0.02
EPS in Rs-0.35-0.33-0.89-0.100.120.120.501.320.35-0.28-1.41-0.01
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales218.13259.59259.45219.87151.900.440.970.730.631.4117.265.76
Expenses177.73232.06238.90213.79160.638.117.3410.725.050.6418.809.48
Operating Profit40.4027.5320.556.08-8.73-7.67-6.37-9.99-4.420.77-1.54-3.72
OPM %18.52%10.61%7.92%2.77%-5.75%-1,743.18%-656.70%-1,368.49%-701.59%54.61%-8.92%-64.58%
Other Income1.231.771.010.978.505.131.540.780.160.841.781.03
Interest5.883.082.373.097.700.200.490.500.000.000.000.00
Depreciation2.993.403.673.8614.010.050.040.040.050.010.000.00
Profit before tax32.7622.8215.520.10-21.94-2.79-5.36-9.75-4.311.600.24-2.69
Tax %34.65%38.74%41.75%690.00%41.52%0.00%0.00%-0.92%0.00%12.50%112.50%
Net Profit21.4213.989.03-0.59-31.05-2.79-5.36-9.66-4.321.39-0.03-2.96
EPS in Rs6.334.09-0.27-14.06-1.26-2.43-4.37-1.960.63-0.01-1.35
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-22%108%187%-55%
Compounded Profit Growth%15%26%-165%
Stock Price CAGR%-13%-18%-40%
Return on Equity-9%-18%-6%0%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital0.050.0522.0822.0822.0822.0822.0822.0822.0822.0822.0822.08
Reserves42.1663.5836.2145.3444.7613.9311.075.69-3.93-8.14-6.75-6.75
Borrowings38.9019.938.087.508.462.290.000.000.000.000.000.00
Other Liabilities29.7464.2566.7459.4145.2219.1810.907.383.342.332.9329.76
Total Liabilities110.85147.81133.11134.33120.5257.4844.0535.1521.4916.2718.2645.09
Fixed Assets21.8124.6824.8626.0522.581.700.150.120.240.170.150.15
CWIP0.000.000.040.010.010.000.000.030.000.000.000.00
Investments0.000.000.000.000.000.000.000.000.000.000.000.00
Other Assets89.04123.13108.21108.2797.9355.7843.9035.0021.2516.1018.1144.94
Total Assets110.85147.81133.11134.33120.5257.4844.0535.1521.4916.2718.2645.09
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity10.3331.4415.508.542.0323.6812.200.84-9.46-1.140.09-0.95
Cash from Investing Activity-38.20-5.86-3.52-5.19-1.57-5.32-15.150.851.450.140.840.00
Cash from Financing Activity28.37-25.90-11.72-2.35-1.50-13.32-2.42-0.48-0.490.000.00-0.31
Net Cash Flow0.50-0.320.270.99-1.045.04-5.371.21-8.50-0.990.93-1.25
Free Cash Flow-13.8325.5811.883.340.4418.3613.780.80-9.62-1.130.09-0.95
CFO/OP23%78%144%112%57%-271%-159%-13%95%26%12%44%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days99.95110.6119.2828.0236.6715.161,642.50519.28560.00533.02274.40377.27
Inventory Days108.36126.86215.58180.67152.750.810.000.00708.530.00189.87
Days Payable56.2494.13144.88143.55139.9662.92220.07539.09
Cash Conversion Cycle152.07143.3489.9865.1549.47-46.951,642.50519.281,048.46533.02274.4028.05
Working Capital Days49.5658.0127.2240.9156.1170.0713,380.574,553.097,455.006,703.253,083.09119.06
ROCE %105.14%46.93%34.55%25.72%5.84%-24.47%-7.50%-15.99%-40.29%-26.86%10.93%1.57%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters33.17%29.06%13.79%13.56%13.56%13.56%13.56%13.56%13.56%13.56%13.56%13.56%
FIIs0.42%0.42%0.42%0.42%0.42%0.42%0.42%0.42%0.42%0.42%0.42%0.42%
DIIs0.00%0.00%0.00%0.00%0.22%0.22%0.22%0.22%0.22%0.00%0.00%0.00%
Public66.40%70.52%85.80%86.02%85.79%85.80%85.79%85.79%85.79%86.02%86.02%86.02%
No. of Shareholders20,69920,27920,65220,46919,89319,86320,10119,89419,60019,36718,97918,979

Fundamentals

Market Cap₹ 14.3 Cr.
Current Price₹ 6.46
Book Value₹ 6.94
ROCE1.57 %
ROE-0.20 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-55%
Compounded Profit Growth (TTM)-165%
Standalone figures.
Valuation
Market capRs 14 Cr
Enterprise valueRs 13 Cr
Price to book0.92x
Price to sales0.82x
EV / sales0.76x
Earnings yield-20.94%
P/E, 3-year average16.17x
P/B, 3-year average1.87x
P/E, 5-year average16.17x
P/B, 5-year average1.61x
Profitability
Operating margin (excl. other income)-8.92%
Operating margin (incl. other income)1.39%
EBITDA margin-15.59%
Pre-tax margin-15.59%
Net profit margin-17.15%
ROE-0.20%
ROCE1.57%
ROA-0.09%
ROE, 3-year average-5.87%
ROCE, 3-year average-4.79%
ROA, 3-year average-4.97%
ROE, 5-year average-15.46%
ROCE, 5-year average-14.13%
ROA, 5-year average-12.51%
ROIC (approx.)2.35%
Tax rate112.50%
Other income / net worth11.61%
Growth
Sales growth (latest year)1124.11%
Profit growth (latest year)-102.16%
Sales CAGR, 3 years187.02%
Sales CAGR, 5 years108.31%
Profit growth YoY (latest quarter)-100.69%
Per share
EPS (TTM)Rs -1.34
EPS (latest quarter)Rs -0.01
EPS, 3-year averageRs -0.66
EPS, 5-year averageRs -2.03
Book value per shareRs 6.94
Sales per shareRs 7.81
Cash flow per shareRs -0.43
Free cash flow per shareRs -0.43
Efficiency
Asset turnover0.38x
Fixed asset turnover115.07x
Inventory turnover1.92x
Inventory days190 days
Debtor days377 days
Debtors turnover0.97x
Creditor days539 days
Cash conversion cycle28 days
Working capital days119 days
Leverage
Cash and bankRs 1 Cr
Net debtRs -1 Cr
Owners' fund to total sources34.00%
Cash flow
Cash from Operating Activity (latest year)Rs -1 Cr
Cash from Financing Activity (latest year)Rs -0 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs -1 Cr
Statement figures
Net sales (TTM)Rs 17 Cr
Net sales (latest year)Rs 17 Cr
Operating profit excl. other income (latest year)Rs -2 Cr
Operating profit (latest quarter)Rs -0 Cr
Other income (TTM)Rs 2 Cr
EBITDA (TTM)Rs -3 Cr
PBDT (TTM)Rs -3 Cr
Profit before tax (TTM)Rs -3 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs -3 Cr
Net profit (latest year)Rs -0 Cr
Net profit (latest quarter)Rs -0 Cr
Cost of goods sold (latest year)Rs 18 Cr
Total expenditure (latest year)Rs 19 Cr
Total income (latest year)Rs 19 Cr
Share capitalRs 22 Cr
ReservesRs -7 Cr
Shareholders' fundsRs 15 Cr
Total assetsRs 45 Cr
Net blockRs 0 Cr
ReceivablesRs 18 Cr
InventoryRs 9 Cr
Other liabilitiesRs 30 Cr
Shares outstanding (crore)2.21
Ownership
Promoter holding13.56% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 0.92 is at the 25th percentile (median 1.10).
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.
PeriodHEADSUPNifty 50Difference
1 week-6.6%-2.8% -3.8 pts
1 month-6.6%-6.8% +0.2 pts
3 months-7.1%-7.6% +0.5 pts
6 months+5.8%+0.4% +5.4 pts
1 year-40.6%-9.9% -30.7 pts
2 years-57.0%-13.6% -43.4 pts
3 years-46.4%+14.2% -60.6 pts
5 years-50.8%+27.9% -78.7 pts

Red flags

F-score 3 of 8
explainReceivables outrunning sales Receivables grew 1583% vs sales +1124% in 2026
lookProfit leans on other income Other income was 742% 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 2026
Sales ₹0 Cr -100.0% vs Jun 2025. Net loss ₹0 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-05Annual General Meeting
2023-09-22Annual General Meeting
2022-09-08Annual General Meeting
2021-09-21 Annual General Meeting
2020-11-19 Annual General Meeting
2019-08-21 Annual General Meeting
2018-08-14 Annual General Meeting
2017-09-12 Annual General Meeting
DateTypeWhat it says
2026-09-03Clarification - Financial ReThe Exchange has sought clarification from Heads UP Ventures Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (List...
2026-08-14Board meeting outcomeHeads UP Ventures Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-10Change in Company Secretary/Change in Company Secretary/Compliance Officer
2026-07-15Address ChangeChange in Corporate Office of the company.
2026-07-01Address ChangeChange in Registered Office of the company.
2026-07-01Disclosure under SEBI TakeovManish B. Mandhana has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantia...
2026-06-25Clarification - Financial ReThe Exchange has sought clarification from Heads UP Ventures Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (List...
2026-05-28Board meeting outcomeHeads UP Ventures Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-05Address ChangeChange in Corporate Office of the company.
2026-04-27CessationCessation of Mr Ayush Patel as Non- Executive Director of the company w.e.f. April 27, 2026.
2026-03-11Clarification - Financial ReThe Exchange has sought clarification from Heads UP Ventures Limited for the quarter ended 31-Dec-2025 with respect to Regulation 33 of the SEBI (List...
2026-02-23AppointmentAppointment of as Executive Director of the company w.e.f. February 23, 2026.
2026-02-23AppointmentAppointment of Mr Mr. Ayush Patel as Executive Director of the company w.e.f. February 23, 2026.
2026-02-14Board meeting outcomeOutcome of Board Meeting
2026-01-22Resignation of Statutory AudResignation of Statutory Auditor
2026-01-22ResignationResignation of Mr M/s. J. Singh & Associates as Other of the company w.e.f. January 22, 2026.
2026-01-08Clarification - Financial ReThe Exchange has sought clarification from Heads UP Ventures Limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI (List...
2025-12-23Reply to Clarification- FinaThe Exchange had sought clarification from Heads UP Ventures Limited for the quarter ended 30-Jun-2025 with respect to Regulation 33 of the SEBI (List...
2025-12-04DemiseDemise of Mr Hansraj Rathor, Managing Director of the company on December 04, 2025.
2025-11-14Resignation of Independent dResignation of Independent director.
2025-11-14ResignationResignation of Mr Akash Jitendrakumar Patel as Non- Executive Independent Director of the company w.e.f. November 14, 2025.
2025-11-13AppointmentAppointment of Ms Asmitaben Ravikumar Patel as Other of the company w.e.f. November 14, 2025.
2025-11-13Board meeting outcomeHeads UP Ventures Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
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.
EPS in the scrip is zero (4 trailing quarters)Less than 100 unique PAN traded in previous 30 days

Quick answers

What is the market cap of Heads UP Ventures Ltd?

Heads UP Ventures Ltd (HEADSUP) has a market capitalisation of Rs 14.3 Cr. at the 2026-10-01 close.

What were Heads UP Ventures Ltd's latest quarterly results?

In the Jun 2026 quarter, Heads UP Ventures Ltd sales was Rs 0 Cr (-100.0% vs Jun 2025) with a net loss of Rs 0 Cr.

What is the 52-week high and low of Heads UP Ventures Ltd?

The 52-week high is Rs 12.95 and the 52-week low is Rs 5.69.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03