Price
Financials
Standalone, Rs crore| Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 48 | 57 | 64 | 86 | 93 | 141 |
| Expenses | 41 | 45 | 54 | 72 | 78 | 127 |
| Operating Profit | 8 | 12 | 9 | 13 | 15 | 14 |
| OPM % | 16% | 21% | 15% | 15% | 16% | 10% |
| Other Income | 0 | 0 | 0 | 2 | 0 | 1 |
| Interest | 1 | 1 | 1 | 2 | 3 | 3 |
| Depreciation | 0 | 1 | 1 | 4 | 4 | 4 |
| Profit before tax | 8 | 10 | 7 | 9 | 9 | 8 |
| Tax % | 25% | 24% | 26% | 27% | 28% | 28% |
| Net Profit | 6 | 8 | 5 | 6 | 6 | 5 |
| EPS in Rs | 4.71 | 6.26 | 3.83 | 4.44 | 4.34 | 3.65 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 1 | 9 | 19 | 72 | 105 | 149 | 234 |
| Expenses | 2 | 9 | 16 | 58 | 85 | 127 | 205 |
| Operating Profit | -1 | 1 | 3 | 14 | 19 | 23 | 29 |
| OPM % | -151% | 6% | 17% | 19% | 18% | 15% | 12% |
| Other Income | 0 | 0 | 0 | 0 | 1 | 2 | 2 |
| Interest | 0 | 1 | 1 | 1 | 1 | 4 | 6 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 5 | 8 |
| Profit before tax | -2 | -1 | 2 | 12 | 18 | 16 | 16 |
| Tax % | -0% | 0% | 12% | 21% | 24% | 27% | 28% |
| Net Profit | -2 | -1 | 2 | 9 | 13 | 12 | 12 |
| EPS in Rs | -8.97 | -2.68 | 3.02 | 10.67 | 10.97 | 8.27 | 7.80 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 90% | 48% | 57% | ||
| Compounded Profit Growth | % | 81% | 7% | -2% | ||
| Stock Price CAGR | % | % | -2% | 11% | ||
| Return on Equity | % | 22% | 17% | 10% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 5 | 9 | 12 | 14 | 15 |
| Reserves | -2 | -4 | -3 | 2 | 27 | 88 | 112 |
| Borrowings | 8 | 13 | 9 | 12 | 19 | 33 | 78 |
| Other Liabilities | 0 | 1 | 4 | 12 | 21 | 25 | 67 |
| Total Liabilities | 9 | 13 | 15 | 35 | 79 | 160 | 272 |
| Fixed Assets | 6 | 6 | 4 | 4 | 5 | 29 | 49 |
| CWIP | 0 | 0 | 1 | 5 | 20 | 6 | 88 |
| Investments | 0 | 0 | 0 | 0 | 0 | 1 | 3 |
| Other Assets | 4 | 7 | 10 | 26 | 53 | 125 | 131 |
| Total Assets | 9 | 13 | 15 | 35 | 79 | 160 | 272 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -1 | -1 | 0 | 11 | -1 | -20 | 44 |
| Cash from Investing Activity | -3 | -3 | -1 | -5 | -20 | -42 | -93 |
| Cash from Financing Activity | 3 | 4 | 1 | -6 | 22 | 62 | 52 |
| Net Cash Flow | -0 | 0 | 0 | -0 | 1 | -0 | 3 |
| Free Cash Flow | -3 | -4 | -1 | 7 | -19 | -35 | -67 |
| CFO/OP | 39% | -257% | 3% | 82% | 8% | -68% | 169% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 293 | 89 | 113 | 61 | 83 | 102 | 77 |
| Inventory Days | 796 | 111 | 43 | 78 | 65 | 101 | 113 |
| Days Payable | 20 | 33 | 30 | 59 | 50 | 30 | 81 |
| Cash Conversion Cycle | 1,068 | 167 | 126 | 80 | 98 | 173 | 110 |
| Working Capital Days | -1,715 | -84 | 19 | 5 | 54 | 99 | 26 |
| ROCE % | 1% | 20% | 74% | 47% | 20% | 13% |
| May 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 86.34% | 62.59% | 62.59% | 51.86% | 51.86% | 51.86% | 52.69% | 47.77% |
| FIIs | 0.00% | 0.78% | 0.00% | 0.02% | 0.01% | 0.00% | 0.00% | 0.00% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 2.33% | 2.35% | 1.77% | 0.38% |
| Public | 13.66% | 36.64% | 37.42% | 48.13% | 45.81% | 45.80% | 45.54% | 51.85% |
| No. of Shareholders | 8 | 801 | 1,747 | 2,630 | 2,533 | 2,856 | 2,755 | 2,844 |
Fundamentals
Market Cap₹ 357 Cr.
Current Price₹ 224
Stock P/E31.0
Book Value₹ 85.0
ROCE12.9 %
ROE10.0 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)57%
Compounded Profit Growth (TTM)-2%
Standalone figures.
Valuation
Market capRs 189 Cr
Enterprise valueRs 201 Cr
P/E (TTM)20.21x
Price to book17.26x
Price to sales2.61x
EV / EBITDA14.41x
EV / EBIT15.84x
EV / sales2.78x
Price to cash flow16.72x
Earnings yield4.95%
Profitability
Operating margin (excl. other income)19.11%
Operating margin (incl. other income)19.27%
EBITDA margin19.27%
Pre-tax margin16.27%
Net profit margin12.92%
ROE149.08%
ROCE74.49%
ROA37.14%
ROE, 3-year average392.97%
ROCE, 3-year average31.56%
ROA, 3-year average13.90%
ROIC (approx.)43.96%
Tax rate20.58%
Other income / net worth1.01%
Growth
Sales growth (latest year)288.50%
Profit growth (latest year)518.54%
Sales CAGR, 3 years322.30%
Per share
EPS (TTM)Rs 10.67
EPS (latest year)Rs 10.67
EPS, 3-year averageRs 3.82
Book value per shareRs 12.50
Sales per shareRs 82.63
Cash flow per shareRs 12.90
Free cash flow per shareRs -76.57
Efficiency
Asset turnover2.07x
Fixed asset turnover18.35x
Inventory turnover5.14x
Inventory days71 days
Debtor days61 days
Debtors turnover6.01x
Creditor days81 days
Cash conversion cycle110 days
Working capital days26 days
Leverage
Total debtRs 12 Cr
Cash and bankRs 0 Cr
Net debtRs 12 Cr
Debt to equity1.11x
Net debt / EBITDA0.86x
Interest coverage13.92x
Owners' fund to total sources31.39%
Debt to assets34.69%
Cash flow
Cash from Operating Activity (latest year)Rs 11 Cr
Cash from Investing Activity (latest year)Rs -5 Cr
Cash from Financing Activity (latest year)Rs -6 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs -67 Cr
FCFE (approx.: FCF + change in debt)Rs -64 Cr
Cash from ops / profit, 5 years0.71x
Sales to cash flow6.40x
Statement figures
Net sales (TTM)Rs 72 Cr
Net sales (latest year)Rs 72 Cr
Operating profit excl. other income (latest year)Rs 14 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 14 Cr
PBDT (TTM)Rs 13 Cr
Profit before tax (TTM)Rs 12 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 9 Cr
Net profit (latest year)Rs 9 Cr
Depreciation (TTM)Rs 1 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 55 Cr
Total expenditure (latest year)Rs 58 Cr
Total income (latest year)Rs 72 Cr
Share capitalRs 9 Cr
ReservesRs 2 Cr
Shareholders' fundsRs 11 Cr
Total assetsRs 35 Cr
Net blockRs 4 Cr
Capital work in progressRs 5 Cr
InvestmentsRs 0 Cr
ReceivablesRs 12 Cr
InventoryRs 11 Cr
Other liabilitiesRs 12 Cr
Shares outstanding (crore)0.88
Ownership
Promoter holding47.77% (-4.09 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | KRISHCA | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -0.4% | -2.8% | +2.3 pts |
| 1 month | +36.4% | -6.8% | +43.2 pts |
| 3 months | +29.2% | -7.6% | +36.8 pts |
| 6 months | +52.5% | +0.4% | +52.1 pts |
| 1 year | +1.8% | -9.9% | +11.7 pts |
| 2 years | -43.7% | -13.6% | -30.1 pts |
| 3 years | -8.2% | +14.2% | -22.4 pts |
Red flags
F-score 7 of 8| explain | Share dilution Share count up 76% in a year, 252% in three |
| look | Inventory outrunning sales Inventory grew 637% vs sales +289% in 2026 |
| look | On NSE surveillance On NSE surveillance: ASM short-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
Mar 2026Sales ₹141 Cr +147.4% vs Mar 2024.
Net profit ₹5 Cr -37.5%.
Activity
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No bulk or block deals on record.
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.
Less than 100 unique PAN traded in previous 30 daysMandatory Market making period in SME scrip is overSME scrip is not regularly tradedShort Term Additional Surveillance Measure (Short Term ASM): stage 1