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 | 52 | 33 | 283 | 36 | 82 | 34 | 213 | 136 | 78 | 29 | 65 | 183 |
| Expenses | 41 | 28 | 243 | 32 | 74 | 30 | 168 | 129 | 75 | 28 | 52 | 163 |
| Operating Profit | 11 | 5 | 40 | 4 | 8 | 4 | 44 | 8 | 2 | 1 | 13 | 20 |
| OPM % | 21% | 14% | 14% | 11% | 9% | 12% | 21% | 6% | 3.2% | 5.0% | 20% | 11% |
| Other Income | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 1 | 3 | 2 |
| Interest | 3 | 2 | 6 | 2 | 1 | 2 | 3 | 3 | 3 | 3 | 3 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 2 | 1 |
| Profit before tax | 10 | 3 | 36 | 3 | 7 | 2 | 42 | 5 | 2 | -2 | 12 | 17 |
| Tax % | 37% | 30% | 23% | 25% | 27% | 30% | 26% | 27% | 45% | -21% | 39% | 25% |
| Net Profit | 6 | 2 | 28 | 2 | 5 | 1 | 31 | 4 | 1 | -2 | 7 | 13 |
| EPS in Rs | 0.14 | 0.16 | 1.18 | 0.15 | 0.25 | 0.09 | 1.21 | 0.21 | 0.08 | -0.02 | 0.34 | 0.52 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 23 | 314 | 76 | 83 | 371 | 440 | 364 | 308 | 355 |
| Expenses | 20 | 303 | 64 | 87 | 319 | 379 | 304 | 284 | 318 |
| Operating Profit | 4 | 11 | 13 | -4 | 53 | 61 | 60 | 24 | 37 |
| OPM % | 15% | 3.5% | 17% | -5% | 14% | 14% | 16% | 8% | 10% |
| Other Income | 2 | 1 | 1 | 10 | 5 | 5 | 4 | 9 | 9 |
| Interest | 2 | 1 | 2 | 6 | 8 | 12 | 8 | 11 | 12 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 | 3 | 6 | 6 |
| Profit before tax | 3 | 10 | 11 | -1 | 49 | 52 | 54 | 16 | 28 |
| Tax % | 45% | 24% | 24% | 21% | 29% | 27% | 26% | 39% | |
| Net Profit | 2 | 8 | 8 | -1 | 35 | 38 | 40 | 10 | 19 |
| EPS in Rs | 0.10 | 0.32 | 0.38 | 0.03 | 1.71 | 1.63 | 1.69 | 0.60 | 0.92 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 4% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 32% | -6% | -24% | ||
| Compounded Profit Growth | % | 25% | -25% | -44% | ||
| Stock Price CAGR | % | 80% | 61% | 16% | ||
| Return on Equity | % | 24% | 20% | 8% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 8 | 8 | 12 | 12 | 13 | 14 | 52 |
| Reserves | 1 | 7 | 12 | 11 | 49 | 121 | 178 | 169 |
| Borrowings | 20 | 26 | 26 | 74 | 38 | 33 | 78 | 130 |
| Other Liabilities | 73 | 231 | 178 | 153 | 142 | 289 | 282 | 470 |
| Total Liabilities | 99 | 272 | 223 | 251 | 241 | 456 | 552 | 821 |
| Fixed Assets | 26 | 25 | 24 | 13 | 14 | 5 | 49 | 46 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Other Assets | 73 | 247 | 199 | 238 | 227 | 451 | 502 | 774 |
| Total Assets | 99 | 272 | 223 | 251 | 241 | 456 | 552 | 821 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 21 | -9 | 5 | -65 | 46 | -8 | -26 | -4 |
| Cash from Investing Activity | -26 | 0 | -0 | 15 | -3 | -10 | -32 | -50 |
| Cash from Financing Activity | 5 | 9 | -3 | 49 | -39 | 22 | 53 | 57 |
| Net Cash Flow | 0 | -0 | 2 | -1 | 5 | 4 | -4 | 2 |
| Free Cash Flow | -5 | -9 | 5 | -49 | 45 | -11 | -68 | -10 |
| CFO/OP | 617% | -42% | 79% | 1,446% | 98% | -5% | -38% | 53% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 180 | 16 | 444 | 212 | 28 | 75 | 78 | 130 |
| Inventory Days | 466 | 95 | 383 | 572 | ||||
| Days Payable | 466 | 63 | 703 | 215 | ||||
| Cash Conversion Cycle | 181 | 47 | 123 | 569 | 28 | 75 | 78 | 130 |
| Working Capital Days | -258 | -2 | 42 | 93 | 60 | 113 | 186 | 207 |
| ROCE % | 32% | 26% | -3% | 54% | 46% | 27% | 9% |
| 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 | 73.24% | 73.24% | 68.30% | 67.16% | 67.16% | 64.96% | 64.96% | 64.96% | 64.96% | 66.61% | 66.61% | 66.61% |
| FIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.84% | 1.49% | 1.35% | 0.53% | 0.46% | 0.46% | 0.29% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.22% | 0.20% | 0.20% | 0.17% | 0.18% | 0.18% | 0.11% |
| Public | 26.76% | 26.76% | 31.70% | 32.84% | 32.85% | 33.98% | 33.35% | 33.49% | 34.35% | 32.75% | 32.76% | 33.00% |
| No. of Shareholders | 1,163 | 1,492 | 3,239 | 3,404 | 4,946 | 4,761 | 4,954 | 4,936 | 5,056 | 6,553 | 6,407 | 6,316 |
Fundamentals
Market Cap₹ 1,491 Cr.
Current Price₹ 57.8
Stock P/E61.7
Book Value₹ 8.47
ROCE8.70 %
ROE7.59 %
Dividend Yield0.10 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)-24%
Compounded Profit Growth (TTM)-44%
Consolidated figures.
Valuation
Market capRs 1,572 Cr
Enterprise valueRs 1,585 Cr
P/E (TTM)65.10x
Price to book11.69x
Price to sales4.42x
EV / EBITDA34.23x
EV / EBIT39.28x
EV / sales4.46x
Earnings yield1.54%
Dividend yield0.09%
P/E, 3-year average3.21x
P/B, 3-year average0.29x
P/E, 5-year average2.08x
P/B, 5-year average0.22x
Profitability
Operating margin (excl. other income)13.77%
Operating margin (incl. other income)14.82%
EBITDA margin13.03%
Pre-tax margin7.99%
Net profit margin6.80%
Net margin, latest quarter7.42%
ROE39.00%
ROCE48.32%
ROA10.94%
ROE, 3-year average43.29%
ROCE, 3-year average37.81%
ROA, 3-year average8.79%
ROE, 5-year average40.43%
ROCE, 5-year average35.91%
ROA, 5-year average6.14%
ROIC (approx.)19.97%
Tax rate26.89%
Other income / net worth3.44%
Growth
Sales growth (latest year)18.34%
Profit growth (latest year)2.36%
Sales CAGR, 3 years79.26%
Sales CAGR, 5 years79.73%
Profit CAGR, 3 years96.18%
Profit CAGR, 5 years109.27%
Sales growth QoQ182.38%
Profit growth QoQ52.53%
Sales growth YoY (latest quarter)34.26%
Profit growth YoY (latest quarter)165.95%
Per share
EPS (TTM)Rs 0.94
EPS (latest year)Rs 28.57
EPS (latest quarter)Rs 0.53
EPS, 3-year averageRs 19.68
EPS, 5-year averageRs 14.27
Book value per shareRs 5.21
Sales per shareRs 13.77
Cash flow per shareRs -0.30
Free cash flow per shareRs -0.39
Dividend per share (latest year)Rs 1.00
Dividend per share, 3-year averageRs 1.00
Dividend per share, 5-year averageRs 1.00
Dividends
Dividend payout3.51%
Dividend payout, 3-year average3.51%
Dividend payout, 5-year average3.51%
Efficiency
Asset turnover0.96x
Fixed asset turnover87.40x
Inventory turnover1.84x
Inventory days199 days
Debtor days75 days
Debtors turnover4.85x
Creditor days215 days
Cash conversion cycle130 days
Working capital days207 days
Leverage
Total debtRs 33 Cr
Cash and bankRs 19 Cr
Net debtRs 13 Cr
Debt to equity0.24x
Net debt / EBITDA0.29x
Interest coverage3.37x
Owners' fund to total sources29.45%
Debt to assets7.15%
Cash flow
Cash from Operating Activity (latest year)Rs -8 Cr
Cash from Investing Activity (latest year)Rs -10 Cr
Cash from Financing Activity (latest year)Rs 22 Cr
Net Cash Flow (latest year)Rs 4 Cr
Free cash flow (latest year)Rs -10 Cr
FCFE (approx.: FCF + change in debt)Rs -15 Cr
Cash from ops / profit, 5 years-0.47x
Statement figures
Net sales (TTM)Rs 355 Cr
Net sales (latest year)Rs 440 Cr
Sales (latest quarter)Rs 183 Cr
Operating profit excl. other income (latest year)Rs 61 Cr
Operating profit (latest quarter)Rs 20 Cr
Other income (TTM)Rs 9 Cr
EBITDA (TTM)Rs 46 Cr
PBDT (TTM)Rs 34 Cr
Profit before tax (TTM)Rs 28 Cr
Tax (latest year)Rs 14 Cr
Net profit (TTM)Rs 24 Cr
Net profit (latest year)Rs 38 Cr
Net profit (latest quarter)Rs 14 Cr
Depreciation (TTM)Rs 6 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 12 Cr
Cost of goods sold (latest year)Rs 366 Cr
Total expenditure (latest year)Rs 379 Cr
Total income (latest year)Rs 444 Cr
Share capitalRs 13 Cr
ReservesRs 121 Cr
Shareholders' fundsRs 134 Cr
Total assetsRs 456 Cr
Net blockRs 5 Cr
InvestmentsRs 0 Cr
ReceivablesRs 91 Cr
InventoryRs 199 Cr
Other liabilitiesRs 289 Cr
Shares outstanding (crore)25.80
Ownership
Promoter holding66.61% (+1.65 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 65.1 is at the 53th percentile of its own 4.8-year range
(median 62.3, low 23.3, high 299.2).
P/B 11.69 is at the 14th percentile (median 19.17).
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 | PANORAMA | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +3.0% | -2.8% | +5.8 pts |
| 1 month | +43.1% | -6.8% | +49.9 pts |
| 3 years | +336.9% | +14.2% | +322.8 pts |
| 5 years | +1903.6% | +27.9% | +1875.7 pts |
Red flags
F-score 2 of 8| explain | Weak cash conversion Cash from operations was -35% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 10% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 222% vs sales +18% in 2026 |
| explain | Share dilution Share count up 7% in a year, 76% in three |
| look | Inventory outrunning sales Inventory grew 165% vs sales +18% 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
Jun 2026Sales ₹183 Cr +34.6% vs Jun 2025.
Net profit ₹13 Cr +225.0%.
Activity
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| PVR Inox Ltd | 11,687 | 36.8 | 6.79 % |
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| Vashu Bhagnani Industries Ltd | 419 | 163 | 2.54 % |
| Cineline India Ltd | 336 | 25.0 | 10.9 % |
| UFO Moviez India Ltd | 227 | 9.46 | 11.2 % |
| Diksat Transworld Ltd | 219 | -3.71 % | |
| Alan Scott Enterprises Ltd | 203 | -19.1 % | |
| Tips Films Ltd | 145 | -6.69 % | |
| Mukta Arts Ltd | 128 | 4.41 % | |
| Baba Arts Ltd | 81 | 131 | 3.14 % |
| G V Films Ltd | 78 | 2.85 % | |
| Baweja Studios Ltd | 48 | 7.88 | 7.94 % |
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.
Short Term Additional Surveillance Measure (Short Term ASM): stage 1