Price
Financials
Standalone, Rs crore| Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|
| Sales | 23 | 33 | 30 | 60 |
| Expenses | 14 | 25 | 20 | 53 |
| Operating Profit | 8 | 8 | 10 | 8 |
| OPM % | 37% | 24% | 33% | 13% |
| Other Income | 0 | 0 | 0 | 1 |
| Interest | 0 | 0 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 |
| Profit before tax | 8 | 8 | 10 | 8 |
| Tax % | 24% | 26% | 26% | 18% |
| Net Profit | 6 | 6 | 7 | 7 |
| EPS in Rs | 3.81 | 3.35 | 3.09 | 2.79 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 5 | 29 | 39 | 37 | 56 | 91 |
| Expenses | 3 | 21 | 34 | 28 | 40 | 73 |
| Operating Profit | 2 | 8 | 4 | 8 | 16 | 18 |
| OPM % | 33% | 28% | 11% | 22% | 29% | 20% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 0 | 1 | 1 | 1 | 0 | 1 |
| Profit before tax | 1 | 8 | 4 | 7 | 16 | 18 |
| Tax % | 19% | 30% | 27% | 26% | 25% | 22% |
| Net Profit | 1 | 5 | 3 | 5 | 12 | 14 |
| EPS in Rs | 1,120.00 | 5,260.00 | 2,770.00 | 5,490.00 | 7.04 | 5.88 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 79% | 33% | 62% | ||
| Compounded Profit Growth | % | 65% | 71% | 13% | ||
| Stock Price CAGR | % | % | % | 135% | ||
| Return on Equity | % | 33% | 31% | 22% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 0.01 | 17 | 23 |
| Reserves | 4 | 9 | 12 | 18 | 15 | 69 |
| Borrowings | 1 | 7 | 7 | 4 | 6 | 9 |
| Other Liabilities | 4 | 6 | 4 | 7 | 10 | 41 |
| Total Liabilities | 9 | 22 | 23 | 29 | 47 | 142 |
| Fixed Assets | 5 | 6 | 5 | 5 | 5 | 18 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 7 |
| Investments | 1 | 0 | 0 | 0 | 1 | 21 |
| Other Assets | 2 | 17 | 17 | 24 | 41 | 96 |
| Total Assets | 9 | 22 | 23 | 29 | 47 | 142 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | -4 | 3 | 4 | -4 | -12 | |
| Cash from Investing Activity | 0 | -0 | 0 | -1 | -39 | |
| Cash from Financing Activity | 6 | -1 | -3 | 3 | 48 | |
| Net Cash Flow | 3 | 2 | 1 | -2 | -3 | |
| Free Cash Flow | -5 | 2 | 4 | -4 | -32 | |
| CFO/OP | -21% | 83% | 72% | -18% | -32% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 79 | 126 | 76 | 105 | 112 | 241 |
| Inventory Days | 0 | |||||
| Days Payable | ||||||
| Cash Conversion Cycle | 79 | 126 | 76 | 105 | 112 | 241 |
| Working Capital Days | -185 | 91 | 78 | 80 | 146 | 188 |
| ROCE % | 71% | 23% | 38% | 55% | 27% |
| Sep 2025 | Mar 2026 | |
|---|---|---|
| Promoters | 64.07% | 64.07% |
| FIIs | 4.98% | 3.42% |
| DIIs | 3.68% | 0.88% |
| Public | 27.28% | 31.63% |
| No. of Shareholders | 536 | 545 |
Fundamentals
Market Cap₹ 537 Cr.
Current Price₹ 230
Stock P/E39.0
Book Value₹ 39.3
ROCE27.2 %
ROE22.2 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)62%
Compounded Profit Growth (TTM)13%
Standalone figures.
Valuation
Market capRs 501 Cr
Enterprise valueRs 505 Cr
P/E (TTM)95.25x
Price to book53.30x
Price to sales17.19x
EV / EBITDA61.05x
EV / EBIT65.65x
EV / sales17.32x
Earnings yield1.05%
Profitability
Operating margin (excl. other income)27.56%
Operating margin (incl. other income)28.38%
EBITDA margin28.38%
Pre-tax margin25.77%
Net profit margin18.05%
ROE77.70%
ROCE70.68%
ROA33.39%
ROIC (approx.)40.68%
Tax rate29.96%
Other income / net worth2.55%
Growth
Sales growth (latest year)497.13%
Profit growth (latest year)369.64%
Per share
EPS (TTM)Rs 2.25
EPS (latest year)Rs 5,260.00
Book value per shareRs 4.02
Sales per shareRs 12.45
Cash flow per shareRs -1.69
Free cash flow per shareRs -13.67
Efficiency
Asset turnover1.30x
Fixed asset turnover4.91x
Debtor days126 days
Debtors turnover2.91x
Cash conversion cycle241 days
Working capital days188 days
Leverage
Total debtRs 7 Cr
Cash and bankRs 4 Cr
Net debtRs 4 Cr
Debt to equity0.79x
Net debt / EBITDA0.46x
Interest coverage42.72x
Owners' fund to total sources41.83%
Debt to assets32.93%
Cash flow
Cash from Operating Activity (latest year)Rs -4 Cr
Cash from Investing Activity (latest year)Rs 0 Cr
Cash from Financing Activity (latest year)Rs 6 Cr
Net Cash Flow (latest year)Rs 3 Cr
Free cash flow (latest year)Rs -32 Cr
FCFE (approx.: FCF + change in debt)Rs -25 Cr
Cash from ops / profit, 5 years-0.33x
Statement figures
Net sales (TTM)Rs 29 Cr
Net sales (latest year)Rs 29 Cr
Operating profit excl. other income (latest year)Rs 8 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 8 Cr
PBDT (TTM)Rs 8 Cr
Profit before tax (TTM)Rs 8 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 5 Cr
Net profit (latest year)Rs 5 Cr
Depreciation (TTM)Rs 1 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 19 Cr
Total expenditure (latest year)Rs 21 Cr
Total income (latest year)Rs 29 Cr
Share capitalRs 0 Cr
ReservesRs 9 Cr
Shareholders' fundsRs 9 Cr
Total assetsRs 22 Cr
Net blockRs 6 Cr
ReceivablesRs 10 Cr
Other liabilitiesRs 6 Cr
Shares outstanding (crore)2.34
Ownership
Promoter holding64.07%
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 | OPTIVALUE | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -6.8% | -2.8% | -4.0 pts |
| 1 month | +23.2% | -6.8% | +30.0 pts |
| 3 months | +165.8% | -7.6% | +173.5 pts |
| 6 months | +214.2% | +0.4% | +213.8 pts |
| 1 year | +105.4% | -9.9% | +115.3 pts |
Red flags
F-score 4 of 8| explain | High accruals Profit exceeded operating cash by 41% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 855% vs sales +497% in 2026 |
| 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
No quarterly results published.
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.
ESM: stage 1Less than 100 unique PAN traded in previous 30 daysSME scrip is not regularly traded