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 | 8 | 9 | 7 | 9 | 9 | 6 | 6 | 14 | 24 | 28 | 38 | 21 |
| Expenses | 3 | 3 | 2 | 3 | 4 | 4 | 8 | 4 | 4 | 4 | 6 | 5 |
| Operating Profit | 6 | 6 | 4 | 6 | 6 | 2 | -2 | 10 | 20 | 23 | 33 | 16 |
| OPM % | 66% | 67% | 63% | 64% | 60% | 30% | -34% | 72% | 84% | 84% | 85% | 77% |
| Other Income | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 6 | 6 | 4 | 6 | 6 | 1 | -2 | 10 | 19 | 23 | 31 | 15 |
| Tax % | 22% | 15% | 31% | 16% | 19% | 21% | 9% | 12% | 26% | 25% | 17% | 26% |
| Net Profit | 4 | 5 | 2 | 5 | 5 | 1 | -3 | 9 | 14 | 17 | 26 | 11 |
| EPS in Rs | 0.43 | 0.54 | 0.25 | 0.50 | 0.45 | 0.09 | -0.22 | 0.72 | 1.19 | 1.33 | 2.04 | 0.85 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 49 | 45 | 58 | 8 | 9 | 22 | 20 | 8 | 31 | 27 | 104 | 110 |
| Expenses | 42 | 46 | 45 | 8 | 21 | 5 | 7 | 16 | 11 | 15 | 18 | 19 |
| Operating Profit | 7 | -1 | 13 | -0 | -12 | 17 | 12 | -9 | 20 | 12 | 86 | 92 |
| OPM % | 14% | -1.2% | 22% | -3.6% | -128% | 77% | 62% | -114% | 65% | 44% | 83% | 83% |
| Other Income | 0 | 5 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 0 | 0 | 0 |
| Interest | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 3 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 6 | 3 | 11 | -2 | -14 | 16 | 11 | -9 | 20 | 10 | 83 | 88 |
| Tax % | -0% | -3% | 23% | -25% | -20% | 37% | 13% | -20% | 22% | 24% | 20% | |
| Net Profit | 6 | 3 | 9 | -1 | -11 | 10 | 10 | -7 | 15 | 8 | 66 | 69 |
| EPS in Rs | 0.63 | 0.33 | 0.87 | -0.13 | -1.08 | 1.02 | 0.99 | -0.65 | 1.60 | 0.71 | 5.16 | 5.41 |
| Dividend Payout % | 16% | 30% | 11% | -76% | 0% | 10% | 10% | -9% | 10% | 0% | 2% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 8% | 37% | 139% | 218% | ||
| Compounded Profit Growth | 27% | 46% | 130% | 498% | ||
| Stock Price CAGR | 30% | 30% | 12% | -88% | ||
| Return on Equity | 13% | 17% | 21% | 29% |
| 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 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 12 | 13 |
| Reserves | 30 | 35 | 37 | 46 | 47 | 35 | 45 | 54 | 49 | 63 | 168 | 271 |
| Borrowings | 4 | 0 | 0 | 5 | 8 | 8 | 1 | 2 | 4 | 6 | 4 | 25 |
| Other Liabilities | 9 | 4 | 10 | 15 | 18 | 18 | 22 | 42 | 45 | 42 | 45 | 66 |
| Total Liabilities | 53 | 49 | 57 | 75 | 83 | 70 | 79 | 109 | 107 | 122 | 228 | 374 |
| Fixed Assets | 3 | 6 | 3 | 10 | 10 | 10 | 11 | 12 | 11 | 13 | 13 | 14 |
| CWIP | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 11 | 7 | 7 | 7 | 15 | 3 | 15 | 35 | 21 | 30 | 58 | 175 |
| Other Assets | 37 | 36 | 47 | 59 | 58 | 57 | 53 | 62 | 75 | 79 | 158 | 185 |
| Total Assets | 53 | 49 | 57 | 75 | 83 | 70 | 79 | 109 | 107 | 122 | 228 | 374 |
| 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 | -11 | -8 | 0 | 7 | 4 | 13 | 4 | 5 | 1 | -3 | -22 | -34 |
| Cash from Investing Activity | 5 | 13 | 5 | -5 | -0 | -14 | 4 | -9 | -2 | 3 | -75 | -22 |
| Cash from Financing Activity | 1 | -6 | -1 | 3 | -1 | -2 | -7 | -1 | 0 | 0 | 95 | 58 |
| Net Cash Flow | -5 | -1 | 4 | 6 | 3 | -3 | 1 | -4 | 0 | 1 | -2 | 2 |
| Free Cash Flow | -13 | -10 | 6 | 7 | 4 | 13 | 3 | 3 | 1 | -5 | -22 | -35 |
| CFO/OP | -255% | -116% | -58% | 74% | -1,700% | -110% | 27% | 50% | -28% | -2% | -159% | -25% |
| 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 | 98 | 81 | 100 | 138 | 1,063 | 423 | 59 | 49 | 138 | 90 | 251 | 24 |
| Inventory Days | 105 | 59 | ||||||||||
| Days Payable | 66 | 16 | ||||||||||
| Cash Conversion Cycle | 137 | 125 | 100 | 138 | 1,063 | 423 | 59 | 49 | 138 | 90 | 251 | 24 |
| Working Capital Days | 97 | 143 | 167 | 105 | 126 | 229 | -20 | -567 | -1,250 | -246 | -92 | -27 |
| ROCE % | 9% | 15% | -3% | 23% | -1% | -21% | 32% | 20% | -13% | 28% | 9% | 35% |
| 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 | 72.18% | 72.18% | 72.18% | 72.18% | 72.18% | 72.18% | 61.73% | 60.87% | 59.36% | 56.77% | 56.50% | 56.07% |
| FIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.13% | 0.52% | 0.48% | 1.17% | 1.28% | 1.22% | 1.28% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.19% | 0.49% | 0.46% |
| Government | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.06% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 27.78% | 27.77% | 27.77% | 27.76% | 27.76% | 27.63% | 37.69% | 38.66% | 39.47% | 41.76% | 41.79% | 42.20% |
| No. of Shareholders | 3,853 | 3,855 | 4,263 | 4,036 | 4,410 | 4,835 | 5,626 | 5,423 | 11,112 | 15,932 | 16,464 | 17,732 |
Fundamentals
Market Cap₹ 423 Cr.
Current Price₹ 31.9
Stock P/E6.17
Book Value₹ 22.1
ROCE34.6 %
ROE28.7 %
Dividend Yield0.63 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)218%
Compounded Profit Growth (TTM)498%
Consolidated figures.
Valuation
Market capRs 453 Cr
Enterprise valueRs 350 Cr
P/E (TTM)6.60x
Price to book1.59x
Price to sales4.10x
EV / EBITDA3.80x
EV / EBIT3.83x
EV / sales3.17x
Earnings yield15.16%
Dividend yield0.28%
P/E, 3-year average28.03x
P/B, 3-year average4.88x
P/E, 5-year average22.02x
P/B, 5-year average3.12x
Profitability
Operating margin (excl. other income)82.90%
Operating margin (incl. other income)83.25%
EBITDA margin83.53%
Pre-tax margin80.01%
Net profit margin62.17%
Net margin, latest quarter53.49%
ROE28.66%
ROCE34.91%
ROA22.05%
ROE, 3-year average19.83%
ROCE, 3-year average24.28%
ROA, 3-year average13.58%
ROE, 5-year average13.11%
ROCE, 5-year average15.85%
ROA, 5-year average9.07%
ROIC (approx.)40.10%
Tax rate20.50%
Other income / net worth0.13%
Growth
Sales growth (latest year)288.37%
Profit growth (latest year)704.36%
Sales CAGR, 3 years139.21%
Sales CAGR, 5 years36.53%
Profit CAGR, 5 years45.55%
Sales growth QoQ-46.22%
Profit growth QoQ-57.87%
Sales growth YoY (latest quarter)46.87%
Profit growth YoY (latest quarter)28.70%
Per share
EPS (TTM)Rs 5.34
EPS (latest year)Rs 5.16
EPS (latest quarter)Rs 0.86
EPS, 3-year averageRs 9.40
EPS, 5-year averageRs 6.33
Book value per shareRs 22.07
Sales per shareRs 8.58
Cash flow per shareRs -2.62
Free cash flow per shareRs -2.72
Dividend per share (latest year)Rs 0.10
Dividend per share, 3-year averageRs 0.85
Dividend per share, 5-year averageRs 0.83
Dividends
Dividend payout1.94%
Dividend payout, 3-year average5.98%
Dividend payout, 5-year average7.34%
Efficiency
Asset turnover0.28x
Fixed asset turnover7.53x
Inventory turnover5.34x
Inventory days68 days
Debtor days24 days
Debtors turnover15.01x
Creditor days16 days
Cash conversion cycle24 days
Working capital days-27 days
Leverage
Total debtRs 25 Cr
Cash and bankRs 127 Cr
Net debtRs -102 Cr
Debt to equity0.09x
Net debt / EBITDA-1.11x
Interest coverage28.95x
Owners' fund to total sources75.88%
Debt to assets6.60%
Cash flow
Cash from Operating Activity (latest year)Rs -34 Cr
Cash from Investing Activity (latest year)Rs -22 Cr
Cash from Financing Activity (latest year)Rs 58 Cr
Net Cash Flow (latest year)Rs 2 Cr
Free cash flow (latest year)Rs -35 Cr
FCFE (approx.: FCF + change in debt)Rs -14 Cr
Cash from ops / profit, 5 years-0.58x
Statement figures
Net sales (TTM)Rs 110 Cr
Net sales (latest year)Rs 104 Cr
Sales (latest quarter)Rs 21 Cr
Operating profit excl. other income (latest year)Rs 86 Cr
Operating profit (latest quarter)Rs 16 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 92 Cr
PBDT (TTM)Rs 89 Cr
Profit before tax (TTM)Rs 88 Cr
Tax (latest year)Rs 17 Cr
Net profit (TTM)Rs 69 Cr
Net profit (latest year)Rs 66 Cr
Net profit (latest quarter)Rs 11 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 3 Cr
Cost of goods sold (latest year)Rs 5 Cr
Total expenditure (latest year)Rs 18 Cr
Total income (latest year)Rs 104 Cr
Share capitalRs 13 Cr
ReservesRs 271 Cr
Shareholders' fundsRs 284 Cr
Total assetsRs 374 Cr
Net blockRs 14 Cr
InvestmentsRs 175 Cr
ReceivablesRs 7 Cr
InventoryRs 1 Cr
Other liabilitiesRs 66 Cr
Shares outstanding (crore)12.86
Ownership
Promoter holding56.07% (-4.80 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 6.6 is at the 13th percentile of its own 6.3-year range
(median 28.3, low 4.2, high 314.4).
P/B 1.59 is at the 37th percentile (median 2.74).
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 | INDOTHAI | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +9.0% | -2.8% | +11.8 pts |
| 1 month | -15.6% | -6.8% | -8.8 pts |
| 3 months | -86.1% | -7.6% | -78.5 pts |
| 6 months | -87.7% | +0.4% | -88.2 pts |
| 1 year | -85.8% | -9.9% | -75.9 pts |
| 2 years | -49.5% | -13.6% | -35.9 pts |
| 3 years | +56.1% | +14.2% | +41.9 pts |
| 5 years | +300.8% | +27.9% | +272.9 pts |
Red flags
F-score 4 of 8| explain | Weak cash conversion Cash from operations was -64% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 27% of total assets in 2026 |
| explain | Share dilution Share count up 10% in a year, 29% in three |
| look | On NSE surveillance On NSE surveillance: ASM long-term |
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 ₹21 Cr +50.0% vs Jun 2025.
Net profit ₹11 Cr +22.2%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Billionbrains Garage Ventures Ltd | 115,133 | 47.2 | 37.3 % |
| Motilal Oswal Financial Services Ltd | 60,069 | 30.3 | 12.7 % |
| 360 ONE WAM Ltd | 41,983 | 33.3 | 12.1 % |
| Nuvama Wealth Management Ltd | 30,484 | 28.2 | 17.5 % |
| Angel One Ltd | 25,014 | 24.2 | 14.8 % |
| IIFL Capital Services Ltd | 10,878 | 19.1 | 21.1 % |
| Share India Securities Ltd | 4,492 | 12.4 | 18.4 % |
| Anand Rathi Share & Stock Brokers Ltd | 3,156 | 21.4 | 19.8 % |
| Monarch Networth Capital Ltd | 2,714 | 15.0 | 27.6 % |
| Geojit Financial Services Ltd | 2,138 | 27.5 | 9.02 % |
| SMC Global Securities Ltd | 1,948 | 17.9 | 11.4 % |
| 5paisa Capital Ltd | 1,429 | 32.3 | 9.94 % |
| Dolat Algotech Ltd | 1,151 | 8.00 | 16.3 % |
| Dam Capital Advisors Ltd | 1,101 | 15.2 | 35.4 % |
| Systematix Corporate Services Ltd | 1,030 | 8.49 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-09-11 | Dividend - Re 0.10 Per Share | |
| 2025-08-08 | Interim Dividend - Re 0.10 Per Share | |
| 2025-07-18 | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share | 0.1000 |
| 2024-09-20 | Annual General Meetingdividend - Re 0.60 Per Share | |
| 2024-02-13 | Interim Dividend - Re 1 Per Share | |
| 2023-09-15 | Annual General Meeting/Dividend - Re 0.60 Per Share | |
| 2022-09-22 | Dividend - Re 1 Per Share | |
| 2021-09-21 | Annual General Meeting/ Dividend Rs 1 Per Share | |
| 2019-09-19 | Dividend - Re 1 Per Share | |
| 2018-09-19 | Dividend Re 1 Per Share | |
| 2017-08-31 | Annual General Meeting/Dividend - Re 1/- Per Share | |
| 2016-09-15 | Annual General Meeting/Dividend - Re 1/- Per Share | |
| 2015-09-18 | Annual General Meeting/ Dividend - Re 1/- Per Share | |
| 2014-09-11 | Annual General Meeting | |
| 2013-09-19 | Annual General Meeting | |
| 2012-09-21 | Annual General Meeting |
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.
Long Term Additional Surveillance Measure (Long Term ASM): stage 1