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 | 38.00 | 41.38 | 51.58 | 32.19 | 48.86 | 44.85 | 52.83 | 7.41 | 46.19 | 58.23 | 19.09 | 15.24 |
| Expenses | 22.20 | 26.73 | 45.47 | 25.20 | 34.22 | 27.44 | 46.76 | 10.65 | 28.71 | 35.48 | 22.31 | 20.66 |
| Operating Profit | 15.80 | 14.65 | 6.11 | 6.99 | 14.64 | 17.41 | 6.07 | -3.24 | 17.48 | 22.75 | -3.22 | -5.42 |
| OPM % | 41.58% | 35.40% | 11.85% | 21.71% | 29.96% | 38.82% | 11.49% | -43.72% | 37.84% | 39.07% | -16.87% | -35.56% |
| Other Income | 2.73 | 1.98 | 1.41 | 1.64 | 2.01 | 2.64 | 7.00 | 8.74 | 3.15 | 2.94 | 7.48 | 8.86 |
| Interest | 10.77 | 13.06 | 8.18 | 8.78 | 10.19 | 9.64 | 9.06 | 0.70 | 8.83 | 8.97 | 0.63 | 1.41 |
| Depreciation | 6.04 | 6.03 | 5.93 | 5.39 | 5.63 | 6.10 | 5.86 | 0.89 | 5.91 | 5.88 | 1.03 | 0.72 |
| Profit before tax | 1.72 | -2.46 | -6.59 | -5.54 | 0.83 | 4.31 | -1.85 | 3.91 | 5.89 | 10.84 | 2.60 | 1.31 |
| Tax % | -108.14% | -78.46% | 101.06% | 2.71% | 53.01% | 9.98% | 2,761.62% | 3.58% | 41.77% | 37.45% | -50.38% | 0.76% |
| Net Profit | 3.58 | -0.52 | -13.26 | -5.68 | 0.39 | 3.88 | -52.95 | 3.78 | 3.42 | 6.79 | 3.91 | 1.30 |
| EPS in Rs | 0.09 | -0.03 | -0.35 | -0.30 | -0.09 | 0.05 | -2.15 | 0.05 | 0.10 | 0.12 | 0.44 | 0.09 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 86 | 63 | 96 | 118 | 85 | 45 | 93 | 173 | 185 | 179 | 195 | 139 |
| Expenses | 62 | 58 | 59 | 58 | 37 | 26 | 54 | 118 | 130 | 134 | 118 | 107 |
| Operating Profit | 24 | 5 | 38 | 61 | 48 | 19 | 39 | 55 | 55 | 45 | 77 | 32 |
| OPM % | 28% | 8% | 39% | 51% | 57% | 43% | 42% | 32% | 30% | 25% | 39% | 23% |
| Other Income | 8 | 11 | 12 | 16 | 20 | 14 | 22 | 58 | 18 | 13 | 18 | 22 |
| Interest | 11 | 10 | 27 | 34 | 42 | 45 | 40 | 41 | 42 | 38 | 44 | 20 |
| Depreciation | 13 | 12 | 27 | 34 | 33 | 30 | 27 | 24 | 24 | 23 | 23 | 14 |
| Profit before tax | 8 | -6 | -5 | 8 | -6 | -42 | -6 | 48 | 7 | -2 | 28 | 21 |
| Tax % | 47% | -121% | 50% | 19% | -31% | -1% | -75% | 20% | 58% | 2,316% | 35% | |
| Net Profit | 4 | 2 | -7 | 7 | -4 | -42 | -1 | 38 | 3 | -54 | 18 | 15 |
| EPS in Rs | 0.48 | -0.35 | -0.29 | 0.16 | -0.10 | -1.82 | -0.23 | 1.66 | 0.30 | -2.49 | 0.70 | 0.75 |
| 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 | 9% | 34% | 4% | -10% | ||
| Compounded Profit Growth | 3% | 19% | -25% | 92% | ||
| Stock Price CAGR | 8% | 15% | 22% | 13% | ||
| Return on Equity | -1% | -1% | -2% | 2% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 |
| Reserves | 469 | 520 | 503 | 492 | 469 | 466 | 450 | 452 | 481 | 479 | 437 | 426 |
| Borrowings | 242 | 239 | 301 | 341 | 354 | 414 | 459 | 471 | 420 | 422 | 425 | 660 |
| Other Liabilities | 292 | 376 | 422 | 454 | 579 | 700 | 684 | 689 | 657 | 625 | 578 | 302 |
| Total Liabilities | 1,034 | 1,166 | 1,257 | 1,317 | 1,432 | 1,611 | 1,624 | 1,641 | 1,589 | 1,556 | 1,471 | 1,418 |
| Fixed Assets | 529 | 494 | 453 | 718 | 779 | 737 | 707 | 681 | 662 | 641 | 632 | 593 |
| CWIP | 96 | 193 | 253 | 110 | 25 | 36 | 37 | 37 | 37 | 36 | 27 | 37 |
| Investments | 20 | 72 | 73 | 64 | 76 | 66 | 19 | 70 | 45 | 27 | 31 | 17 |
| Other Assets | 390 | 408 | 478 | 425 | 552 | 772 | 861 | 853 | 846 | 852 | 781 | 772 |
| Total Assets | 1,034 | 1,166 | 1,257 | 1,317 | 1,432 | 1,611 | 1,624 | 1,641 | 1,589 | 1,556 | 1,471 | 1,418 |
| Mar 2015 | 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 | 30 | -30 | -52 | -10 | 28 | -18 | -18 | 91 | 82 | 60 | 40 | 74 |
| Cash from Investing Activity | -50 | -116 | 16 | -10 | -11 | 4 | 52 | -56 | 10 | -12 | -25 | 71 |
| Cash from Financing Activity | 26 | 153 | 40 | 4 | -20 | 20 | 4 | -47 | -80 | -41 | -32 | -109 |
| Net Cash Flow | 6 | 7 | 4 | -16 | -2 | 6 | 38 | -12 | 12 | 7 | -18 | 36 |
| Free Cash Flow | -21 | -128 | -79 | -19 | 28 | -18 | -18 | 91 | 79 | 60 | 32 | 69 |
| CFO/OP | 193% | -124% | -1,035% | -23% | 57% | -24% | -124% | 227% | 159% | 123% | 90% | 100% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 458 | 377 | 485 | 247 | 107 | 83 | 181 | 114 | 28 | 26 | 25 | 31 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 458 | 377 | 485 | 247 | 107 | 83 | 181 | 114 | 28 | 26 | 25 | 31 |
| Working Capital Days | 1,285 | 1,007 | 1,121 | 510 | 331 | 606 | 1,559 | 964 | 342 | 321 | 305 | 341 |
| ROCE % | 1% | 2% | 0% | 2% | 4% | 3% | 0% | 3% | 7% | 4% | 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 | 24.49% | 24.43% | 24.39% | 24.02% | 23.39% | 23.21% | 22.71% | 51.51% | 52.43% | 53.56% | 53.56% | 53.63% |
| FIIs | 5.36% | 3.01% | 3.06% | 3.02% | 3.01% | 3.02% | 3.01% | 3.01% | 3.31% | 3.26% | 3.05% | 3.01% |
| DIIs | 0.00% | 0.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.10% | 0.10% | 0.06% | 0.03% | 0.00% | 0.00% |
| Public | 70.15% | 72.49% | 72.56% | 72.96% | 73.60% | 73.77% | 74.17% | 45.37% | 44.21% | 43.16% | 43.40% | 43.36% |
| No. of Shareholders | 69,407 | 71,831 | 74,150 | 72,989 | 71,956 | 71,201 | 64,334 | 60,787 | 56,469 | 55,505 | 53,020 | 51,688 |
Fundamentals
Market Cap₹ 856 Cr.
Current Price₹ 56.2
Book Value₹ 29.9
ROCE6.05 %
ROE2.22 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)-10%
Compounded Profit Growth (TTM)92%
Consolidated figures.
Valuation
Market capRs 802 Cr
Enterprise valueRs 1,385 Cr
P/E (TTM)70.75x
Price to book1.76x
Price to sales5.78x
EV / EBITDA25.64x
EV / EBIT34.21x
EV / sales9.98x
Price to cash flow10.87x
Earnings yield1.41%
P/E, 3-year average75.70x
P/B, 3-year average1.04x
P/E, 5-year average54.78x
P/B, 5-year average0.89x
Profitability
Operating margin (excl. other income)39.30%
Operating margin (incl. other income)48.56%
EBITDA margin38.93%
Pre-tax margin14.88%
Net profit margin8.17%
Net margin, latest quarter8.92%
ROE2.31%
ROCE7.14%
ROA0.74%
ROE, 3-year average-1.52%
ROCE, 3-year average5.43%
ROA, 3-year average-0.49%
ROE, 5-year average-0.04%
ROCE, 5-year average5.86%
ROA, 5-year average-0.03%
ROIC (approx.)2.52%
Tax rate35.16%
Other income / net worth3.96%
Growth
Sales growth (latest year)9.23%
Sales CAGR, 3 years4.08%
Sales CAGR, 5 years34.19%
Profit CAGR, 3 years-24.97%
Sales growth QoQ-20.17%
Profit growth QoQ-79.58%
Sales growth YoY (latest quarter)105.67%
Profit growth YoY (latest quarter)86.30%
Per share
EPS (TTM)Rs 0.74
EPS (latest year)Rs 0.70
EPS (latest quarter)Rs 0.09
EPS, 3-year averageRs -0.50
EPS, 5-year averageRs -0.01
Book value per shareRs 29.91
Sales per shareRs 9.09
Cash flow per shareRs 4.83
Free cash flow per shareRs 4.52
Efficiency
Asset turnover0.14x
Fixed asset turnover0.33x
Inventory turnover0.18x
Inventory days2029 days
Debtor days31 days
Debtors turnover11.87x
Cash conversion cycle31 days
Working capital days341 days
Leverage
Total debtRs 660 Cr
Cash and bankRs 77 Cr
Net debtRs 583 Cr
Debt to equity1.45x
Net debt / EBITDA10.80x
Interest coverage2.04x
Current ratio (filing 2026-03-31)1.97x
Quick ratio (filing 2026-03-31)0.46x
Trade payables (filing 2026-03-31)Rs 19 Cr
Owners' fund to total sources32.18%
Debt to assets46.55%
Cash flow
Cash from Operating Activity (latest year)Rs 74 Cr
Cash from Investing Activity (latest year)Rs 71 Cr
Cash from Financing Activity (latest year)Rs -109 Cr
Net Cash Flow (latest year)Rs 36 Cr
Free cash flow (latest year)Rs 69 Cr
FCFE (approx.: FCF + change in debt)Rs 304 Cr
Cash from ops / profit, 5 years86.75x
Sales to cash flow2.65x
Statement figures
Net sales (TTM)Rs 139 Cr
Net sales (latest year)Rs 195 Cr
Sales (latest quarter)Rs 15 Cr
Operating profit excl. other income (latest year)Rs 77 Cr
Operating profit (latest quarter)Rs -5 Cr
Other income (TTM)Rs 22 Cr
EBITDA (TTM)Rs 54 Cr
PBDT (TTM)Rs 34 Cr
Profit before tax (TTM)Rs 21 Cr
Tax (latest year)Rs 10 Cr
Net profit (TTM)Rs 11 Cr
Net profit (latest year)Rs 11 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 14 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 20 Cr
Cost of goods sold (latest year)Rs 72 Cr
Total expenditure (latest year)Rs 118 Cr
Total income (latest year)Rs 213 Cr
Share capitalRs 31 Cr
ReservesRs 426 Cr
Shareholders' fundsRs 456 Cr
Total assetsRs 1,418 Cr
Net blockRs 593 Cr
Capital work in progressRs 37 Cr
InvestmentsRs 17 Cr
ReceivablesRs 16 Cr
InventoryRs 402 Cr
Other liabilitiesRs 302 Cr
Shares outstanding (crore)15.26
Ownership
Promoter holding53.63% (+2.12 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 70.8 is at the 45th percentile of its own 3.2-year range
(median 75.5, low 15.7, high 133.6).
P/B 1.76 is at the 92th percentile (median 0.87).
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 | PROZONER | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -3.0% | -2.8% | -0.2 pts |
| 1 month | +16.9% | -6.8% | +23.7 pts |
| 3 months | +10.3% | -7.6% | +17.9 pts |
| 6 months | +28.0% | +0.4% | +27.6 pts |
| 1 year | +5.0% | -9.9% | +14.9 pts |
| 2 years | +90.4% | -13.6% | +104.0 pts |
| 3 years | +67.8% | +14.2% | +53.7 pts |
| 5 years | +89.6% | +27.9% | +61.7 pts |
Red flags
F-score 7 of 8| look | Profit leans on other income Other income was 65% 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 ₹15 Cr +105.7% vs Jun 2025.
Net profit ₹1 Cr -65.6%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| DLF Ltd | 161,638 | 37.6 | 6.32 % |
| Lodha Developers Ltd | 110,592 | 26.8 | 16.4 % |
| Phoenix Mills Ltd | 68,996 | 53.2 | 12.4 % |
| Oberoi Realty Ltd | 64,099 | 24.2 | 17.3 % |
| Prestige Estates Projects Ltd | 61,056 | 53.6 | 10.4 % |
| Godrej Properties Ltd | 49,232 | 30.4 | 7.63 % |
| Anant Raj Ltd | 21,675 | 37.5 | 12.1 % |
| 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 % |
| Date | Client | Side | Qty | Price |
|---|---|---|---|---|
| 2026-09-30 | Sarita Jain | SELL | 1,025,000 | 56.59 |
| 2026-09-30 | Sarita Jain | BUY | 20,000 | 56.31 |
| 2026-09-30 | Apax Trust | BUY | 1,148,300 | 56.60 |
| Ex-date | Action | Factor |
|---|---|---|
| 2015-09-22 | Annual General Meeting | |
| 2014-09-18 | Annual General Meeting | |
| 2013-09-19 | Annual General Meeting |
| Date | Type | What it says |
|---|---|---|
| 2026-10-01 | Shareholder meeting | Result of voting and Scrutinizers Report 19th AGM held on 30th September 2026-revised |
| 2026-10-01 | Shareholder meeting | Voting results. |
| 2026-09-30 | Shareholder meeting | Proceedings of Annual General Meeting 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.
Scrip PE is greater than 50 (4 trailing quarters)