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 | 78.42 | 44.56 | 86.79 | 82.86 | 94.60 | 165.92 | 74.08 | 142.15 | 75.58 | 81.41 | 89.21 | 102.56 |
| Expenses | 56.55 | 39.68 | 71.70 | 67.36 | 77.97 | 150.47 | 64.52 | 121.28 | 69.09 | 69.76 | 89.59 | 96.68 |
| Operating Profit | 21.87 | 4.88 | 15.09 | 15.50 | 16.63 | 15.45 | 9.56 | 20.87 | 6.49 | 11.65 | -0.38 | 5.88 |
| OPM % | 27.89% | 10.95% | 17.39% | 18.71% | 17.58% | 9.31% | 12.90% | 14.68% | 8.59% | 14.31% | -0.43% | 5.73% |
| Other Income | 0.41 | 2.88 | 0.56 | 1.17 | 1.06 | 0.22 | 0.51 | 1.89 | 21.87 | 0.43 | 12.75 | 1.78 |
| Interest | 3.26 | 2.26 | 2.18 | 3.18 | 2.54 | 3.99 | 1.11 | 1.02 | 0.73 | 0.91 | 0.72 | 0.63 |
| Depreciation | 2.79 | 3.06 | 2.97 | 2.81 | 2.87 | 2.87 | 2.93 | 2.92 | 2.93 | 3.02 | 2.82 | 2.87 |
| Profit before tax | 16.23 | 2.44 | 10.50 | 10.68 | 12.28 | 8.81 | 6.03 | 18.82 | 24.70 | 8.15 | 8.83 | 4.16 |
| Tax % | 28.16% | 29.51% | 35.43% | 31.46% | 31.35% | -4.88% | 37.81% | 18.44% | 27.94% | 25.28% | 25.48% | 26.20% |
| Net Profit | 11.66 | 1.72 | 6.78 | 7.33 | 8.43 | 9.23 | 3.75 | 15.36 | 17.80 | 6.09 | 6.58 | 3.08 |
| EPS in Rs | 2.17 | 0.32 | 1.25 | 1.36 | 1.57 | 1.71 | 0.70 | 2.86 | 3.31 | 1.13 | 1.22 | 0.57 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 185 | 238 | 275 | 253 | 165 | 152 | 199 | 202 | 272 | 417 | 388 | 349 |
| Expenses | 167 | 208 | 255 | 230 | 170 | 146 | 178 | 176 | 213 | 359 | 349 | 325 |
| Operating Profit | 18 | 30 | 20 | 23 | -5 | 7 | 21 | 26 | 58 | 58 | 40 | 24 |
| OPM % | 10% | 12% | 7% | 9% | -3.2% | 4.3% | 11% | 13% | 22% | 14% | 10% | 7% |
| Other Income | -2 | 1 | 2 | 3 | 1 | -8 | 3 | 2 | 4 | 2 | 36 | 37 |
| Interest | 4 | 4 | 5 | 6 | 6 | 7 | 7 | 9 | 10 | 11 | 3 | 3 |
| Depreciation | 3 | 4 | 4 | 4 | 5 | 6 | 10 | 10 | 12 | 11 | 12 | 12 |
| Profit before tax | 8 | 23 | 13 | 16 | -15 | -15 | 7 | 9 | 41 | 38 | 60 | 46 |
| Tax % | 32% | 31% | 37% | 29% | -33% | -28% | 25% | 25% | 30% | 24% | 24% | |
| Net Profit | 6 | 16 | 8 | 11 | -10 | -11 | 5 | 7 | 28 | 29 | 46 | 34 |
| EPS in Rs | 1.28 | 3.55 | 1.53 | 2.11 | -1.85 | -2.03 | 0.99 | 1.28 | 5.27 | 5.34 | 8.52 | 6.23 |
| Dividend Payout % | 31% | 17% | 33% | 26% | 0% | 0% | 30% | 26% | 9% | 2% | 1% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 8% | 21% | 24% | -27% | ||
| Compounded Profit Growth | 22% | 96% | 91% | -14% | ||
| Stock Price CAGR | 26% | 70% | 50% | 19% | ||
| Return on Equity | 7% | 11% | 15% | 19% |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 57 | 116 | 188 | 199 | 186 | 174 | 179 | 184 | 209 | 235 | 278 |
| Borrowings | 23 | 38 | 46 | 28 | 58 | 58 | 78 | 83 | 61 | 41 | 32 |
| Other Liabilities | 41 | 56 | 64 | 61 | 53 | 51 | 54 | 78 | 160 | 242 | 162 |
| Total Liabilities | 130 | 220 | 309 | 299 | 307 | 294 | 322 | 356 | 442 | 528 | 483 |
| Fixed Assets | 39 | 104 | 105 | 117 | 116 | 184 | 180 | 189 | 200 | 200 | 187 |
| CWIP | 2 | 4 | 16 | 35 | 62 | 2 | 4 | 2 | 3 | 3 | 26 |
| Investments | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 83 | 112 | 188 | 147 | 130 | 108 | 138 | 165 | 238 | 326 | 269 |
| Total Assets | 130 | 220 | 309 | 299 | 307 | 294 | 322 | 356 | 442 | 528 | 483 |
| 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 | 10 | -7 | -24 | 50 | -6 | 10 | -2 | 21 | 79 | 118 | -1 |
| Cash from Investing Activity | -4 | -9 | -46 | -26 | -14 | -4 | -11 | -16 | -25 | -11 | -27 |
| Cash from Financing Activity | -3 | 14 | 71 | -24 | 20 | -7 | 13 | -6 | -34 | -34 | -14 |
| Net Cash Flow | 3 | -3 | 1 | 0 | -0 | -1 | -0 | -0 | 20 | 73 | -42 |
| Free Cash Flow | 6 | -15 | -39 | 12 | -36 | -3 | -15 | 7 | 56 | 105 | -29 |
| CFO/OP | 77% | -5% | -86% | 240% | 84% | 159% | -7% | 73% | 136% | 223% | 38% |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 84 | 86 | 130 | 94 | 106 | 103 | 131 | 97 | 98 | 33 | 50 |
| Inventory Days | 80 | 102 | 84 | 84 | 180 | 182 | 142 | 335 | 290 | 235 | 168 |
| Days Payable | 43 | 38 | 48 | 64 | 81 | 84 | 79 | 66 | 51 | 178 | 68 |
| Cash Conversion Cycle | 121 | 150 | 166 | 114 | 205 | 202 | 193 | 365 | 336 | 90 | 150 |
| Working Capital Days | 27 | 49 | 77 | 61 | 25 | 17 | 16 | 18 | 29 | -27 | 39 |
| ROCE % | 22% | 9% | 9% | -4% | 0% | 5% | 7% | 18% | 17% | 23% |
| 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 | 41.33% | 41.33% | 41.33% | 41.33% | 41.33% | 41.33% | 41.33% | 41.33% | 41.33% | 41.33% | 41.33% | 41.33% |
| FIIs | 0.45% | 0.32% | 0.27% | 0.62% | 0.36% | 0.39% | 0.73% | 0.72% | 1.06% | 0.91% | 1.18% | 1.67% |
| DIIs | 7.61% | 9.27% | 10.27% | 9.43% | 8.37% | 8.20% | 8.03% | 7.66% | 9.06% | 9.23% | 9.17% | 9.37% |
| Public | 50.61% | 49.08% | 48.11% | 48.60% | 49.93% | 50.08% | 49.91% | 50.30% | 48.55% | 48.54% | 48.33% | 47.62% |
| No. of Shareholders | 20,515 | 24,060 | 24,933 | 63,794 | 80,398 | 83,708 | 83,951 | 96,995 | 96,045 | 95,404 | 92,900 | 84,316 |
Fundamentals
Market Cap₹ 3,631 Cr.
Current Price₹ 675
Stock P/E106
Book Value₹ 53.8
ROCE23.0 %
ROE18.8 %
Dividend Yield0.07 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)-27%
Compounded Profit Growth (TTM)-14%
Consolidated figures.
Valuation
Market capRs 3,667 Cr
Enterprise valueRs 3,639 Cr
P/E (TTM)109.33x
Price to book12.69x
Price to sales10.51x
EV / EBITDA60.18x
EV / EBIT74.53x
EV / sales10.44x
Earnings yield0.91%
Dividend yield0.01%
P/E, 3-year average11.04x
P/B, 3-year average1.46x
P/E, 5-year average11.68x
P/B, 5-year average1.04x
Profitability
Operating margin (excl. other income)10.21%
Operating margin (incl. other income)19.46%
EBITDA margin17.34%
Pre-tax margin13.14%
Net profit margin9.62%
Net margin, latest quarter2.99%
ROE17.13%
ROCE21.01%
ROA9.06%
ROE, 3-year average14.37%
ROCE, 3-year average18.80%
ROA, 3-year average7.36%
ROE, 5-year average9.91%
ROCE, 5-year average13.74%
ROA, 5-year average5.17%
ROIC (approx.)14.15%
Tax rate24.25%
Other income / net worth12.43%
Growth
Sales growth (latest year)-6.97%
Profit growth (latest year)59.62%
Sales CAGR, 3 years24.34%
Sales CAGR, 5 years20.60%
Profit CAGR, 3 years87.86%
Sales growth QoQ14.96%
Profit growth QoQ-53.34%
Sales growth YoY (latest quarter)-27.85%
Profit growth YoY (latest quarter)-80.00%
Per share
EPS (TTM)Rs 6.24
EPS (latest year)Rs 42.61
EPS (latest quarter)Rs 0.57
EPS, 3-year averageRs 31.89
EPS, 5-year averageRs 21.41
Book value per shareRs 53.77
Sales per shareRs 64.87
Cash flow per shareRs -0.24
Free cash flow per shareRs -5.39
Dividend per share (latest year)Rs 0.50
Dividend per share, 3-year averageRs 1.17
Dividend per share, 5-year averageRs 1.34
Dividends
Dividend payout1.18%
Dividend payout, 3-year average4.18%
Dividend payout, 5-year average13.88%
Efficiency
Asset turnover0.80x
Fixed asset turnover2.07x
Inventory turnover2.37x
Inventory days154 days
Debtor days50 days
Debtors turnover7.27x
Creditor days68 days
Cash conversion cycle150 days
Working capital days39 days
Leverage
Total debtRs 32 Cr
Cash and bankRs 60 Cr
Net debtRs -28 Cr
Debt to equity0.11x
Net debt / EBITDA-0.46x
Interest coverage16.33x
Current ratio (filing 2026-03-31)1.65x
Quick ratio (filing 2026-03-31)0.99x
Trade payables (filing 2026-03-31)Rs 42 Cr
Owners' fund to total sources59.83%
Debt to assets6.69%
Cash flow
Cash from Operating Activity (latest year)Rs -1 Cr
Cash from Investing Activity (latest year)Rs -27 Cr
Cash from Financing Activity (latest year)Rs -14 Cr
Net Cash Flow (latest year)Rs -42 Cr
Free cash flow (latest year)Rs -29 Cr
FCFE (approx.: FCF + change in debt)Rs -37 Cr
Cash from ops / profit, 5 years1.87x
Statement figures
Net sales (TTM)Rs 349 Cr
Net sales (latest year)Rs 388 Cr
Sales (latest quarter)Rs 103 Cr
Operating profit excl. other income (latest year)Rs 40 Cr
Operating profit (latest quarter)Rs 6 Cr
Other income (TTM)Rs 37 Cr
EBITDA (TTM)Rs 60 Cr
PBDT (TTM)Rs 57 Cr
Profit before tax (TTM)Rs 46 Cr
Tax (latest year)Rs 15 Cr
Net profit (TTM)Rs 34 Cr
Net profit (latest year)Rs 46 Cr
Net profit (latest quarter)Rs 3 Cr
Depreciation (TTM)Rs 12 Cr
Depreciation (latest quarter)Rs 3 Cr
Interest (TTM)Rs 3 Cr
Cost of goods sold (latest year)Rs 244 Cr
Total expenditure (latest year)Rs 349 Cr
Total income (latest year)Rs 424 Cr
Share capitalRs 11 Cr
ReservesRs 278 Cr
Shareholders' fundsRs 289 Cr
Total assetsRs 483 Cr
Net blockRs 187 Cr
Capital work in progressRs 26 Cr
InvestmentsRs 0 Cr
ReceivablesRs 53 Cr
InventoryRs 103 Cr
Other liabilitiesRs 162 Cr
Shares outstanding (crore)5.38
Ownership
Promoter holding41.33% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 109.3 is at the 83th percentile of its own 7.4-year range
(median 67.3, low 5.8, high 393.0).
P/B 12.69 is at the 88th percentile (median 2.41).
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 | PREMEXPLN | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +0.2% | -2.8% | +3.0 pts |
| 1 month | +2.7% | -6.8% | +9.5 pts |
| 3 months | -12.8% | -7.6% | -5.2 pts |
| 6 months | +78.8% | +0.4% | +78.4 pts |
| 1 year | +10.7% | -9.9% | +20.7 pts |
| 2 years | +21.9% | -13.6% | +35.5 pts |
| 3 years | +239.2% | +14.2% | +225.0 pts |
| 5 years | +1281.8% | +27.9% | +1253.9 pts |
3 mutual fund schemes hold about ₹335 Cr.
Over three months 1 bought more and 1 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| HDFC Defence Fund | 2.69% | 309 | -13% |
| HDFC Infrastructure Fund | 0.69% | 16 | -1% |
| Unifi Dynamic Asset Allocation Fund | 0.72% | 10 | +100% |
Red flags
F-score 5 of 8| explain | Receivables outrunning sales Receivables grew 40% vs sales -7% in 2026 |
| look | Profit leans on other income Other income was 59% of pre-tax profit in 2026 |
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 ₹103 Cr -27.9% vs Jun 2025.
Net profit ₹3 Cr -79.9%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Solar Industries India Ltd | 168,764 | 84.8 | 38.1 % |
| GOCL Corporation Ltd | 1,803 | 6.75 | 6.98 % |
| Keltech Energies Ltd | 1,320 | 50.4 | 20.4 % |
| Beezaasan Explotech Ltd | 1,056 | 79.7 | 12.2 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-09-23 | Dividend - Re 0.50 Per Share | |
| 2025-09-23 | Dividend - Re 0.50 Per Share | |
| 2024-09-20 | Annual General Meeting/Dividend - Re 0.50 Per Share | |
| 2024-06-21 | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share | 0.2000 |
| 2023-09-22 | Annual General Meeting/Dividend - Rs 1.70 Per Share | |
| 2022-09-08 | Annual General Meeting/Dividend - Rs 1.50 Per Sh | |
| 2021-09-21 | Annual General Meeting | |
| 2020-11-11 | Annual General Meeting | |
| 2019-09-17 | Annual General Meeting/Dividend - Rs 2.70 Per Share | |
| 2018-09-18 | Annual General Meeting/Dividend Rs 2.50 Per Share | |
| 2017-09-14 | Annual General Meeting/Dividend - Rs 3/- Per Share | |
| 2016-09-09 | Annual General Meeting |
| Date | Type | What it says |
|---|---|---|
| 2026-10-02 | General Updates | Newspaper Publication of the Recommendations of the Committee of Independent Directors under Regulation 26(7) of SEBI (SAST) Regulations, 2011, on ope... |
| 2026-10-01 | Shareholder meeting | Disclosure of Voting Results and Scruitinizer Report of the business transacted at the 46th Annual General Meeting held on Wednesday, September 30, 20... |
| 2026-09-30 | Shareholder meeting | Summary of the proceedings of the 46th Annual General Meeting of the Company held on September 30, 2026 |
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.
High low price variation greater than 100perc in previous 6 monthsScrip PE is greater than 50 (4 trailing quarters)