Price
Financials
Standalone, Rs crore| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 15.25 | 27.37 | 14.84 | 46.45 | 23.18 | 25.62 | 30.61 | 32.40 |
| Expenses | 13.47 | 18.56 | 14.18 | 45.64 | 19.36 | 22.24 | 23.70 | 28.26 |
| Operating Profit | 1.78 | 8.81 | 0.66 | 0.81 | 3.82 | 3.38 | 6.91 | 4.14 |
| OPM % | 11.67% | 32.19% | 4.45% | 1.74% | 16.48% | 13.19% | 22.57% | 12.78% |
| Other Income | 0.16 | 0.68 | 0.30 | 3.41 | 1.85 | 1.42 | 0.57 | -1.31 |
| Interest | 0.13 | 0.37 | 0.04 | 0.37 | 0.64 | 0.58 | 0.47 | 0.16 |
| Depreciation | 0.15 | 0.14 | 0.15 | 0.19 | 0.21 | 0.21 | 0.20 | 0.21 |
| Profit before tax | 1.66 | 8.98 | 0.77 | 3.66 | 4.82 | 4.01 | 6.81 | 2.46 |
| Tax % | 11.45% | 32.41% | 0.00% | 47.27% | 14.94% | 0.00% | 40.82% | -16.67% |
| Net Profit | 1.48 | 6.06 | 0.78 | 1.94 | 4.10 | 4.02 | 4.03 | 2.87 |
| EPS in Rs | 0.90 | 3.70 | 0.48 | 1.18 | 2.50 | 2.45 | 2.46 | 1.75 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 30 | 59 | 62 | 83 | 104 | 112 |
| Expenses | 29 | 53 | 54 | 67 | 88 | 94 |
| Operating Profit | 1 | 6 | 8 | 16 | 16 | 18 |
| OPM % | 4.7% | 11% | 13% | 19% | 15% | 16% |
| Other Income | 0 | 0 | 0 | 0 | 4 | 2 |
| Interest | 0 | 0 | 1 | 1 | 1 | 2 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 1 |
| Profit before tax | 1 | 6 | 7 | 14 | 19 | 18 |
| Tax % | 18% | 29% | 28% | 30% | 27% | 17% |
| Net Profit | 1 | 4 | 5 | 10 | 14 | 15 |
| EPS in Rs | 8.45 | 8.37 | 9.07 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 30% | 22% | 8% | ||
| Compounded Profit Growth | % | 86% | 43% | 8% | ||
| Stock Price CAGR | % | % | % | -5% | ||
| Return on Equity | % | 26% | 23% | 17% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 12 | 16 | 16 |
| Reserves | 5 | 9 | 14 | 17 | 66 | 80 |
| Borrowings | 3 | 3 | 4 | 5 | 30 | 8 |
| Other Liabilities | 9 | 22 | 28 | 27 | 10 | 7 |
| Total Liabilities | 18 | 35 | 47 | 61 | 122 | 112 |
| Fixed Assets | 6 | 7 | 10 | 10 | 12 | 15 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 1 |
| Investments | 0 | 0 | 0 | 7 | 52 | 16 |
| Other Assets | 12 | 27 | 37 | 44 | 58 | 80 |
| Total Assets | 18 | 35 | 47 | 61 | 122 | 112 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 1 | 3 | 4 | 3 | -23 | -11 |
| Cash from Investing Activity | -1 | -2 | -4 | -5 | -44 | 35 |
| Cash from Financing Activity | 0 | -0 | 0 | 2 | 67 | -24 |
| Net Cash Flow | -0 | 1 | 0 | 0 | -0 | -0 |
| Free Cash Flow | -0 | 2 | 1 | 2 | -23 | -16 |
| CFO/OP | 103% | 57% | 72% | 46% | -120% | -33% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 110 | 135 | 118 | 108 | 105 | 118 |
| Inventory Days | 12 | 9 | 97 | 113 | 99 | 163 |
| Days Payable | 119 | 140 | 215 | 144 | 26 | 24 |
| Cash Conversion Cycle | 3 | 4 | 1 | 77 | 178 | 258 |
| Working Capital Days | 9 | 14 | 27 | 58 | 72 | 218 |
| ROCE % | 55% | 47% | 57% | 27% | 18% |
| Sep 2024 | Dec 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Promoters | 65.83% | 65.83% | 66.21% | 66.78% | 66.78% | 66.78% |
| FIIs | 0.74% | 1.31% | 0.95% | 0.93% | 0.61% | 0.61% |
| DIIs | 4.44% | 4.86% | 2.07% | 1.39% | 1.37% | 2.04% |
| Public | 29.00% | 28.00% | 30.77% | 30.89% | 31.24% | 30.56% |
| No. of Shareholders | 857 | 897 | 1,001 | 1,084 | 1,017 | 911 |
Fundamentals
Market Cap₹ 146 Cr.
Current Price₹ 89.0
Stock P/E9.81
Book Value₹ 59.1
ROCE18.3 %
ROE16.6 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)8%
Compounded Profit Growth (TTM)8%
Standalone figures.
Valuation
Market capRs 151 Cr
Enterprise valueRs 152 Cr
P/E (TTM)13.89x
Price to book15.05x
Price to sales1.37x
EV / EBITDA9.72x
EV / EBIT10.21x
EV / sales1.38x
Price to cash flow43.50x
Earnings yield7.20%
Profitability
Operating margin (excl. other income)10.93%
Operating margin (incl. other income)10.98%
EBITDA margin14.22%
Pre-tax margin12.04%
Net profit margin9.85%
Net margin, latest quarter15.69%
ROE51.73%
ROCE55.03%
ROA15.45%
ROIC (approx.)91.75%
Tax rate28.77%
Other income / net worth0.30%
Growth
Sales growth (latest year)95.92%
Profit growth (latest year)522.73%
Sales growth QoQ10.53%
Profit growth QoQ-1.95%
Sales growth YoY (latest quarter)-6.39%
Profit growth YoY (latest quarter)-33.66%
Per share
EPS (TTM)Rs 6.61
EPS (latest year)Rs 38.10
EPS (latest quarter)Rs 2.45
Book value per shareRs 6.10
Sales per shareRs 67.18
Cash flow per shareRs 2.11
Free cash flow per shareRs -9.76
Efficiency
Asset turnover1.71x
Fixed asset turnover8.06x
Inventory turnover41.62x
Inventory days9 days
Debtor days135 days
Debtors turnover2.70x
Creditor days24 days
Cash conversion cycle258 days
Working capital days218 days
Leverage
Total debtRs 3 Cr
Cash and bankRs 2 Cr
Net debtRs 2 Cr
Debt to equity0.31x
Net debt / EBITDA0.10x
Interest coverage9.13x
Owners' fund to total sources28.74%
Debt to assets8.99%
Cash flow
Cash from Operating Activity (latest year)Rs 3 Cr
Cash from Investing Activity (latest year)Rs -2 Cr
Cash from Financing Activity (latest year)Rs -0 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs -16 Cr
FCFE (approx.: FCF + change in debt)Rs -16 Cr
Cash from ops / profit, 5 years-0.50x
Sales to cash flow17.19x
Statement figures
Net sales (TTM)Rs 110 Cr
Net sales (latest year)Rs 59 Cr
Sales (latest quarter)Rs 26 Cr
Operating profit excl. other income (latest year)Rs 6 Cr
Operating profit (latest quarter)Rs 3 Cr
Other income (TTM)Rs 7 Cr
EBITDA (TTM)Rs 16 Cr
PBDT (TTM)Rs 14 Cr
Profit before tax (TTM)Rs 13 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 11 Cr
Net profit (latest year)Rs 4 Cr
Net profit (latest quarter)Rs 4 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 45 Cr
Total expenditure (latest year)Rs 53 Cr
Total income (latest year)Rs 60 Cr
Share capitalRs 1 Cr
ReservesRs 9 Cr
Shareholders' fundsRs 10 Cr
Total assetsRs 35 Cr
Net blockRs 7 Cr
InvestmentsRs 0 Cr
ReceivablesRs 22 Cr
InventoryRs 1 Cr
Other liabilitiesRs 22 Cr
Shares outstanding (crore)1.64
Ownership
Promoter holding66.78% (+0.95 in a year)
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 | QUESTLAB | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +1.9% | -2.8% | +4.7 pts |
| 1 month | +7.2% | -6.8% | +14.0 pts |
| 3 months | -4.5% | -7.6% | +3.1 pts |
| 6 months | -16.9% | +0.4% | -17.3 pts |
| 1 year | -5.4% | -9.9% | +4.6 pts |
| 2 years | -27.2% | -13.6% | -13.6 pts |
Red flags
F-score 7 of 8| explain | Receivables outrunning sales Receivables grew 141% vs sales +96% 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
Mar 2026Sales ₹32 Cr -30.2% vs Mar 2025.
Net profit ₹3 Cr +47.9%.
Activity
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| Date | Client | Side | Qty | Price |
|---|---|---|---|---|
| 2026-09-30 | Yashvi Hitesh Patel | BUY | 100,800 | 97.87 |
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.
Less than 100 unique PAN traded in previous 30 daysSME scrip is not regularly tradedShort Term Additional Surveillance Measure (Short Term ASM): stage 1