Price
Financials
Standalone, Rs crore| Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 41.72 | 48.13 | 77.46 | 75.10 | 113.53 | 64.25 | 131.54 | 77.59 | 49.53 | 10.46 | -0.00 |
| Expenses | 40.95 | 45.47 | 75.79 | 71.88 | 109.23 | 61.36 | 126.69 | 75.51 | 51.31 | 15.99 | 4.40 |
| Operating Profit | 0.77 | 2.66 | 1.67 | 3.22 | 4.30 | 2.89 | 4.85 | 2.08 | -1.78 | -5.53 | -4.40 |
| OPM % | 1.85% | 5.53% | 2.16% | 4.29% | 3.79% | 4.50% | 3.69% | 2.68% | -3.59% | -52.87% | |
| Other Income | -0.00 | -0.00 | 0.07 | 0.16 | 0.27 | 0.34 | 0.31 | 1.42 | 2.98 | 1.41 | 2.78 |
| Interest | 0.01 | 0.01 | 0.01 | 0.19 | 0.31 | 0.44 | 0.54 | 1.81 | 1.95 | 1.79 | 1.67 |
| Depreciation | 0.06 | 0.05 | 0.05 | 0.04 | 0.05 | 0.06 | 0.09 | 0.08 | 0.08 | 0.06 | 0.06 |
| Profit before tax | 0.70 | 2.60 | 1.68 | 3.15 | 4.21 | 2.73 | 4.53 | 1.61 | -0.83 | -5.97 | -3.35 |
| Tax % | 2.86% | 17.31% | 22.02% | 27.30% | -14.49% | 26.01% | -5.08% | 27.95% | -55.42% | -0.00% | -0.30% |
| Net Profit | 0.68 | 2.15 | 1.31 | 2.28 | 4.82 | 2.02 | 4.76 | 1.16 | -0.37 | -5.97 | -3.34 |
| EPS in Rs | 5.39 | 1.80 | 0.81 | 1.40 | 2.96 | 1.24 | 2.07 | 0.51 | -0.16 | -2.60 | -1.45 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 0.04 | 22.18 | 49.24 | 125.60 | 188.63 | 195.79 | 127.13 | 10.46 |
| Expenses | 0.04 | 21.30 | 47.59 | 121.27 | 181.12 | 188.05 | 126.83 | 20.39 |
| Operating Profit | -0.00 | 0.88 | 1.65 | 4.33 | 7.51 | 7.74 | 0.30 | -9.93 |
| OPM % | -0.00% | 3.97% | 3.35% | 3.45% | 3.98% | 3.95% | 0.24% | -94.93% |
| Other Income | 0.01 | -0.00 | -0.00 | 0.07 | 0.43 | 0.65 | 4.41 | 4.19 |
| Interest | -0.00 | 0.01 | 0.01 | 0.02 | 0.49 | 0.98 | 3.77 | 3.46 |
| Depreciation | -0.00 | 0.04 | 0.12 | 0.10 | 0.09 | 0.16 | 0.16 | 0.12 |
| Profit before tax | 0.01 | 0.83 | 1.52 | 4.28 | 7.36 | 7.25 | 0.78 | -9.32 |
| Tax % | -0.00% | 1.20% | 1.32% | 18.93% | 3.53% | 6.48% | -1.28% | -0.11% |
| Net Profit | -0.00 | 0.82 | 1.49 | 3.46 | 7.10 | 6.78 | 0.79 | -9.31 |
| EPS in Rs | -0.00 | 7.99 | 11.81 | 2.13 | 4.37 | 2.95 | 0.34 | -4.06 |
| Dividend Payout % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | -27% | -62% | -92% | ||
| Compounded Profit Growth | % | % | % | -1278% | ||
| Stock Price CAGR | % | % | -47% | -65% | ||
| Return on Equity | % | 3% | -1% | -11% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.05 | 1.03 | 1.26 | 16.26 | 16.26 | 22.96 | 22.96 | 22.96 |
| Reserves | 0.42 | 9.55 | 14.10 | 24.49 | 31.60 | 63.84 | 64.64 | 55.33 |
| Borrowings | -0.00 | -0.00 | -0.00 | -0.00 | 4.45 | 39.10 | 39.39 | 1.23 |
| Other Liabilities | 2.55 | 3.10 | 6.12 | 5.05 | 57.16 | 66.90 | 85.24 | 93.70 |
| Total Liabilities | 3.02 | 13.68 | 21.48 | 45.80 | 109.47 | 192.80 | 212.23 | 173.22 |
| Fixed Assets | 0.03 | 0.74 | 0.62 | 0.52 | 0.57 | 0.80 | 0.65 | 0.54 |
| CWIP | -0.00 | -0.00 | -0.00 | -0.00 | 0.02 | -0.00 | -0.00 | -0.00 |
| Investments | 2.29 | 2.39 | 2.39 | 2.39 | 2.39 | 2.39 | 2.39 | 2.39 |
| Other Assets | 0.70 | 10.55 | 18.47 | 42.89 | 106.49 | 189.61 | 209.19 | 170.29 |
| Total Assets | 3.02 | 13.68 | 21.48 | 45.80 | 109.47 | 192.80 | 212.23 | 173.22 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 0.23 | -8.40 | -2.65 | -11.21 | -5.44 | -24.39 | -10.91 | -41.47 |
| Cash from Investing Activity | -0.19 | -0.84 | -0.01 | 0.01 | 0.27 | 0.27 | 4.40 | 4.19 |
| Cash from Financing Activity | -0.00 | 9.27 | 3.27 | 21.12 | 4.09 | 65.83 | -3.47 | -3.46 |
| Net Cash Flow | 0.04 | 0.03 | 0.60 | 9.92 | -1.08 | 41.70 | -9.98 | -40.75 |
| Free Cash Flow | 0.23 | -9.15 | -2.66 | -11.20 | -5.60 | -24.76 | -10.92 | -41.47 |
| CFO/OP | -955% | -160% | -258% | -63% | -301% | -2,167% | 418% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 456.25 | 139.88 | -0.00 | 63.00 | 179.94 | 150.80 | 411.91 | 5,038.12 |
| Inventory Days | 13.74 | 162.55 | 23.44 | 0.98 | 1.11 | 0.51 | 6.14 | |
| Days Payable | 39.96 | 25.49 | 2.09 | 114.67 | 127.50 | 248.50 | 3,088.86 | |
| Cash Conversion Cycle | 456.25 | 113.65 | 137.06 | 84.36 | 66.25 | 24.41 | 163.93 | 1,955.40 |
| Working Capital Days | -17,246.25 | 121.61 | 86.51 | 79.19 | 68.44 | 60.36 | 124.35 | 2,611.88 |
| ROCE % | 15.20% | 11.80% | 15.33% | 16.87% | 9.24% | 3.60% | -5.68% |
| Sep 2022 | Mar 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 58.62% | 58.62% | 58.62% | 58.62% | 58.62% | 41.51% | 41.51% | 41.52% | 41.51% | 41.51% | 41.51% | 41.51% |
| Public | 41.38% | 41.37% | 41.38% | 41.38% | 41.38% | 58.49% | 58.49% | 58.48% | 58.49% | 58.49% | 58.49% | 58.49% |
| No. of Shareholders | 1,583 | 1,553 | 1,461 | 1,481 | 1,423 | 1,545 | 1,634 | 1,673 | 1,663 | 1,622 | 1,621 | 1,600 |
Fundamentals
Market Cap₹ 15.6 Cr.
Current Price₹ 6.80
Book Value₹ 34.1
ROCE-5.68 %
ROE-11.2 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-92%
Compounded Profit Growth (TTM)-1278%
Standalone figures.
Valuation
Market capRs 16 Cr
Enterprise valueRs 3 Cr
P/E (TTM)2.30x
Price to book0.18x
Price to sales0.08x
EV / EBITDA0.42x
EV / EBIT0.42x
EV / sales0.02x
Earnings yield43.43%
P/E, 3-year average14.76x
P/B, 3-year average1.34x
P/E, 5-year average14.76x
P/B, 5-year average1.34x
Profitability
Operating margin (excl. other income)3.95%
Operating margin (incl. other income)4.29%
EBITDA margin4.29%
Pre-tax margin3.70%
Net profit margin3.46%
ROE10.07%
ROCE9.24%
ROA4.49%
ROE, 3-year average12.81%
ROCE, 3-year average13.81%
ROA, 3-year average7.97%
ROE, 5-year average12.95%
ROCE, 5-year average13.69%
ROA, 5-year average8.44%
ROIC (approx.)10.31%
Tax rate6.48%
Other income / net worth0.75%
Growth
Sales growth (latest year)3.80%
Profit growth (latest year)-4.51%
Sales CAGR, 3 years58.43%
Sales CAGR, 5 years446.95%
Profit CAGR, 3 years65.71%
Per share
EPS (TTM)Rs 2.95
EPS (latest year)Rs 2.95
EPS, 3-year averageRs 3.15
EPS, 5-year averageRs 5.85
Book value per shareRs 37.81
Sales per shareRs 85.28
Cash flow per shareRs -10.62
Free cash flow per shareRs -18.06
Efficiency
Asset turnover1.02x
Fixed asset turnover244.74x
Inventory turnover328.18x
Inventory days1 days
Debtor days151 days
Debtors turnover2.42x
Creditor days3089 days
Cash conversion cycle1955 days
Working capital days2612 days
Leverage
Total debtRs 39 Cr
Cash and bankRs 51 Cr
Net debtRs -12 Cr
Debt to equity0.45x
Net debt / EBITDA-1.44x
Interest coverage8.40x
Owners' fund to total sources45.02%
Debt to assets20.28%
Cash flow
Cash from Operating Activity (latest year)Rs -24 Cr
Cash from Investing Activity (latest year)Rs 0 Cr
Cash from Financing Activity (latest year)Rs 66 Cr
Net Cash Flow (latest year)Rs 42 Cr
Free cash flow (latest year)Rs -41 Cr
FCFE (approx.: FCF + change in debt)Rs -7 Cr
Cash from ops / profit, 5 years-10.59x
Statement figures
Net sales (TTM)Rs 196 Cr
Net sales (latest year)Rs 196 Cr
Operating profit excl. other income (latest year)Rs 8 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 8 Cr
PBDT (TTM)Rs 7 Cr
Profit before tax (TTM)Rs 7 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 7 Cr
Net profit (latest year)Rs 7 Cr
Depreciation (TTM)Rs 0 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 184 Cr
Total expenditure (latest year)Rs 188 Cr
Total income (latest year)Rs 196 Cr
Share capitalRs 23 Cr
ReservesRs 64 Cr
Shareholders' fundsRs 87 Cr
Total assetsRs 193 Cr
Net blockRs 1 Cr
InvestmentsRs 2 Cr
ReceivablesRs 81 Cr
InventoryRs 1 Cr
Other liabilitiesRs 67 Cr
Shares outstanding (crore)2.30
Ownership
Promoter holding41.51% (-0.01 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 2.3 is at the 2th percentile of its own 4.3-year range
(median 32.9, low 2.3, high 119.7).
P/B 0.18 is the lowest in 4.3 years (median 2.79).
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 | PRECISION | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +8.8% | -2.8% | +11.6 pts |
| 1 month | -6.8% | -6.8% | -0.1 pts |
| 3 months | -6.2% | -7.6% | +1.4 pts |
| 6 months | -32.0% | +0.4% | -32.4 pts |
| 1 year | -70.9% | -9.9% | -61.0 pts |
| 2 years | -85.7% | -13.6% | -72.2 pts |
| 3 years | -84.7% | +14.2% | -98.9 pts |
Red flags
F-score 1 of 8| explain | Weak cash conversion Cash from operations was -237% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 16% of total assets in 2026 |
| explain | Share dilution Share count up 41% in a year, 1669% in three |
| explain | Debt up, profit down Borrowings up 779% while net profit fell 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
Mar 2026Sales ₹0 Cr -100.0% vs Mar 2024.
Net loss ₹3 Cr.
Activity
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|---|---|---|---|
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| Tube Investments of India Ltd | 46,709 | 74.5 | 17.1 % |
| Endurance Technologies Ltd | 37,343 | 37.9 | 17.8 % |
| Exide Industries Ltd | 34,595 | 36.9 | 8.54 % |
| Dhoot Transmission Ltd | 30,776 | 68.7 | 24.4 % |
| Craftsman Automation Ltd | 27,475 | 58.7 | 13.9 % |
| Sansera Engineering Ltd | 27,228 | 78.1 | 13.7 % |
| ZF Commercial Vehicle Control System India Ltd | 26,150 | 53.2 | 19.1 % |
| Asahi India Glass Ltd | 24,421 | 54.7 | 11.5 % |
| Sundram Fasteners Ltd | 24,022 | 38.7 | 17.6 % |
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.
EPS in the scrip is zero (4 trailing quarters)ESM: stage 1Less than 100 unique PAN traded in previous 30 daysMandatory Market making period in SME scrip is overSME scrip is not regularly traded