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 | 3.22 | 1.66 | -0.88 | 0.16 | 2.16 | 2.54 | 0.94 | 4.05 | 8.47 | 2.43 | 5.38 | 5.29 |
| Expenses | 3.96 | 2.97 | 2.23 | 0.72 | 3.16 | 3.00 | 4.09 | 5.95 | 11.25 | 3.60 | 9.89 | 9.35 |
| Operating Profit | -0.74 | -1.31 | -3.11 | -0.56 | -1.00 | -0.46 | -3.15 | -1.90 | -2.78 | -1.17 | -4.51 | -4.06 |
| OPM % | -22.98% | -78.92% | -350.00% | -46.30% | -18.11% | -335.11% | -46.91% | -32.82% | -48.15% | -83.83% | -76.75% | |
| Other Income | 26.37 | 0.24 | 0.31 | 0.24 | 0.24 | 0.24 | 0.24 | 0.26 | 0.28 | 0.29 | 0.29 | 0.04 |
| Interest | 0.19 | 0.23 | 0.22 | 0.22 | 0.23 | 0.23 | 0.22 | 0.22 | 0.23 | 0.23 | 0.22 | 1.48 |
| Depreciation | -0.15 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 |
| Profit before tax | 25.59 | -1.31 | -3.03 | -0.55 | -1.00 | -0.46 | -3.14 | -1.87 | -2.74 | -1.11 | -4.44 | -5.51 |
| Tax % | 4.73% | -21.37% | -16.17% | 0.00% | 0.00% | 0.00% | -30.57% | -18.72% | -20.44% | -15.32% | -25.00% | -23.96% |
| Net Profit | 24.38 | -1.03 | -2.53 | -0.55 | -0.99 | -0.46 | -2.17 | -1.51 | -2.17 | -0.95 | -3.34 | -4.20 |
| EPS in Rs | 32.62 | -1.39 | -3.41 | -0.74 | -1.34 | -0.62 | -2.93 | -2.04 | -2.93 | -1.28 | -4.51 | -5.67 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 7 | 0 | 0 | 0 | 6 | 3 | 8 | 14 | 7 | 6 | 20 | 22 |
| Expenses | 7 | 2 | 2 | 2 | 7 | 5 | 16 | 15 | 14 | 11 | 31 | 34 |
| Operating Profit | -0 | -2 | -2 | -2 | -2 | -2 | -8 | -1 | -7 | -5 | -10 | -13 |
| OPM % | -4.3% | -27% | -50% | -112% | -3.9% | -95% | -89% | -51% | -58% | |||
| Other Income | 2 | 4 | 3 | 0 | 1 | 1 | 6 | 0 | 27 | 1 | 1 | 1 |
| Interest | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 1 | 1 | 1 | 1 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 1 | 1 | -2 | -2 | -1 | -2 | -2 | 19 | -5 | -10 | -14 |
| Tax % | 12% | 13% | 19% | 0% | 0% | 0% | 0% | 60% | 2% | -19% | -21% | |
| Net Profit | 1 | 1 | 0 | -2 | -2 | -1 | -2 | -4 | 19 | -4 | -8 | -11 |
| EPS in Rs | 1.70 | 1.63 | 0.62 | -2.70 | -2.56 | -1.39 | -3.36 | -5.18 | 25.01 | -5.63 | -10.77 | -14.39 |
| 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 | 11% | 46% | 13% | 123% | ||
| Compounded Profit Growth | % | % | % | -108% | ||
| Stock Price CAGR | 5% | 16% | -5% | -35% | ||
| Return on Equity | -4% | -5% | -6% | -8% |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| Reserves | 50 | 51 | 52 | 50 | 48 | 47 | 80 | 108 | 95 | 91 | 83 |
| Borrowings | 17 | 1 | 8 | 10 | 13 | 23 | 71 | 66 | 41 | 52 | 61 |
| Other Liabilities | 44 | 37 | 3 | 3 | 4 | 3 | 4 | 18 | 11 | 13 | 12 |
| Total Liabilities | 119 | 96 | 69 | 70 | 73 | 81 | 163 | 200 | 155 | 163 | 163 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 65 | 67 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Investments | 20 | 23 | 23 | 23 | 23 | 22 | 17 | 16 | 34 | 33 | 32 |
| Other Assets | 98 | 74 | 46 | 47 | 49 | 58 | 80 | 117 | 120 | 130 | 131 |
| Total Assets | 119 | 96 | 69 | 70 | 73 | 81 | 163 | 200 | 155 | 163 | 163 |
| 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 | -8 | -9 | -2 | 2 | -12 | -7 | -26 | -28 | -10 | -9 |
| Cash from Investing Activity | 1 | 7 | 3 | 0 | 0 | 1 | 0 | 3 | 37 | 1 | 1 |
| Cash from Financing Activity | 0 | 1 | 6 | 2 | 2 | 10 | 4 | 24 | -10 | 10 | 9 |
| Net Cash Flow | -0 | 0 | 0 | -0 | 4 | -1 | -3 | 0 | -1 | 0 | 1 |
| Free Cash Flow | -1 | -8 | -9 | -2 | 2 | -12 | -7 | -27 | -28 | -10 | -9 |
| CFO/OP | 306% | 310% | 394% | 121% | -153% | 759% | 87% | 4,371% | 390% | 200% | 84% |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 146 | 195 | 107 | 329 | 622 | 343 | |||
| Inventory Days | 10,739 | 4,254 | 828 | ||||||||
| Days Payable | 206 | 44 | 54 | ||||||||
| Cash Conversion Cycle | 0 | 10,533 | 146 | 4,404 | 107 | 329 | 622 | 1,116 | |||
| Working Capital Days | -313,800,327 | 1,548 | 3,008 | -162 | 229 | 2,000 | 2,249 | 410 | |||
| ROCE % | 2% | 1% | -3% | -0% | -2% | -3% | -0% | -3% | -3% | -6% |
| 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 | 74.98% | 74.98% | 74.98% | 74.98% | 74.98% | 74.98% | 74.98% | 74.98% | 74.98% | 74.98% | 74.98% | 74.98% |
| DIIs | 4.52% | 4.25% | 4.25% | 4.18% | 4.18% | 4.18% | 4.18% | 4.18% | 4.18% | 4.18% | 4.18% | 4.18% |
| Public | 20.51% | 20.77% | 20.77% | 20.84% | 20.85% | 20.85% | 20.85% | 20.85% | 20.85% | 20.86% | 20.85% | 20.85% |
| No. of Shareholders | 2,101 | 2,139 | 2,207 | 2,277 | 2,325 | 2,434 | 2,466 | 2,453 | 2,421 | 2,387 | 2,368 | 2,375 |
Fundamentals
Market Cap₹ 20.6 Cr.
Current Price₹ 27.8
Book Value₹ 122
ROCE-6.14 %
ROE-8.47 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)123%
Compounded Profit Growth (TTM)-108%
Consolidated figures.
Valuation
Market capRs 21 Cr
Enterprise valueRs 80 Cr
Price to book0.23x
Price to sales0.96x
EV / sales3.73x
Earnings yield-51.58%
P/E, 3-year average1.75x
P/B, 3-year average0.35x
P/E, 5-year average1.75x
P/B, 5-year average0.24x
Profitability
Operating margin (excl. other income)-51.03%
Operating margin (incl. other income)-45.47%
EBITDA margin-53.87%
Pre-tax margin-63.98%
Net profit margin-49.42%
Net margin, latest quarter-79.40%
ROE-8.47%
ROCE-6.14%
ROA-4.89%
ROE, 3-year average1.47%
ROCE, 3-year average1.15%
ROA, 3-year average0.98%
ROE, 5-year average-0.57%
ROCE, 5-year average0.13%
ROA, 5-year average-0.24%
ROIC (approx.)-6.09%
Tax rate21.46%
Other income / net worth1.25%
Growth
Sales growth (latest year)250.34%
Sales CAGR, 3 years12.71%
Sales CAGR, 5 years45.84%
Sales growth QoQ-1.67%
Sales growth YoY (latest quarter)30.62%
Per share
EPS (TTM)Rs -14.38
EPS (latest quarter)Rs -5.67
EPS, 3-year averageRs 9.69
EPS, 5-year averageRs 2.71
Book value per shareRs 121.93
Sales per shareRs 29.11
Cash flow per shareRs -11.69
Free cash flow per shareRs -12.14
Efficiency
Asset turnover0.12x
Fixed asset turnover677.33x
Inventory turnover0.44x
Inventory days828 days
Debtor days343 days
Debtors turnover1.07x
Creditor days54 days
Cash conversion cycle1116 days
Working capital days410 days
Leverage
Total debtRs 61 Cr
Cash and bankRs 1 Cr
Net debtRs 60 Cr
Debt to equity0.68x
Interest coverage-5.39x
Owners' fund to total sources55.30%
Debt to assets37.51%
Cash flow
Cash from Operating Activity (latest year)Rs -9 Cr
Cash from Investing Activity (latest year)Rs 1 Cr
Cash from Financing Activity (latest year)Rs 9 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs -9 Cr
FCFE (approx.: FCF + change in debt)Rs 0 Cr
Cash from ops / profit, 5 years-80.00x
Statement figures
Net sales (TTM)Rs 22 Cr
Net sales (latest year)Rs 20 Cr
Sales (latest quarter)Rs 5 Cr
Operating profit excl. other income (latest year)Rs -10 Cr
Operating profit (latest quarter)Rs -4 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs -12 Cr
PBDT (TTM)Rs -14 Cr
Profit before tax (TTM)Rs -14 Cr
Tax (latest year)Rs -2 Cr
Net profit (TTM)Rs -11 Cr
Net profit (latest year)Rs -8 Cr
Net profit (latest quarter)Rs -4 Cr
Depreciation (TTM)Rs 0 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 28 Cr
Total expenditure (latest year)Rs 31 Cr
Total income (latest year)Rs 21 Cr
Share capitalRs 7 Cr
ReservesRs 83 Cr
Shareholders' fundsRs 90 Cr
Total assetsRs 163 Cr
Net blockRs 0 Cr
InvestmentsRs 32 Cr
ReceivablesRs 19 Cr
InventoryRs 64 Cr
Other liabilitiesRs 12 Cr
Shares outstanding (crore)0.74
Ownership
Promoter holding74.98% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | MPDL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -0.6% | -2.8% | +2.2 pts |
| 1 month | -10.0% | -6.8% | -3.2 pts |
Red flags
F-score 3 of 8| explain | Weak cash conversion Cash from operations was -731% of net profit over the last 3 years |
| look | Repeated losses Net loss in each of the last two years |
| look | On NSE surveillance On NSE surveillance: ESM |
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 ₹5 Cr +30.6% vs Jun 2025.
Net loss ₹4 Cr.
Activity
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|---|---|---|---|
| DLF Ltd | 161,638 | 37.6 | 6.32 % |
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| Brigade Enterprises Ltd | 18,370 | 27.0 | 10.5 % |
| Horizon Industrial Parks Ltd | 14,709 | 3.18 % | |
| Sobha Ltd | 13,008 | 56.4 | 6.86 % |
| Aditya Birla Real Estate Ltd | 12,963 | -4.48 % | |
| SignatureGlobal India Ltd | 10,614 | 2.38 % | |
| Sri Lotus Developers & Realty Ltd | 10,466 | 40.7 | 21.2 % |
| Max Estates Ltd | 9,312 | 1,586 | 1.40 % |
| Embassy Developments Ltd | 7,833 | -2.44 % |
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.
ESM: stage 1Less than 100 unique PAN traded in previous 30 days