Price
Financials
Standalone, Rs crore| Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 225 | 204 | 191 | 374 | 278 | 347 | 279 | 593 |
| Expenses | 226 | 192 | 182 | 362 | 272 | 332 | 273 | 576 |
| Operating Profit | -1 | 12 | 8 | 12 | 5 | 16 | 6 | 17 |
| OPM % | -0.3% | 6% | 4.3% | 3.2% | 2.0% | 4.5% | 2.2% | 2.9% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 3 |
| Interest | 1 | 1 | 3 | 3 | 3 | 5 | 3 | 4 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | -2 | 11 | 5 | 9 | 2 | 12 | 2 | 15 |
| Tax % | 23% | 25% | 31% | 27% | 16% | 39% | 24% | 26% |
| Net Profit | -2 | 8 | 3 | 6 | 2 | 7 | 2 | 11 |
| EPS in Rs | -118.50 | 18.40 | 1.12 | 1.34 | 0.36 | 1.53 | 0.34 | 2.30 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 113 | 14 | 10 | 40 | 429 | 565 | 625 | 872 |
| Expenses | 110 | 13 | 10 | 37 | 417 | 545 | 604 | 849 |
| Operating Profit | 2 | 1 | -0 | 3 | 12 | 20 | 21 | 23 |
| OPM % | 2.0% | 9% | -0.8% | 7% | 2.7% | 3.6% | 3.4% | 2.7% |
| Other Income | 0 | 1 | 1 | 1 | 0 | 0 | 2 | 3 |
| Interest | 1 | 2 | 2 | 2 | 2 | 5 | 8 | 8 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Profit before tax | 0 | -1 | -3 | 0 | 9 | 14 | 14 | 17 |
| Tax % | 28% | -25% | -29% | -62% | 36% | 28% | 35% | 26% |
| Net Profit | 0 | -1 | -2 | 1 | 6 | 10 | 9 | 13 |
| EPS in Rs | 18.00 | -54.00 | -90.00 | 26.00 | 12.88 | 2.05 | 1.88 | 2.64 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 27% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 146% | 27% | 39% | ||
| Compounded Profit Growth | % | 56% | 32% | 40% | ||
| Stock Price CAGR | % | % | % | -4% | ||
| Return on Equity | % | 16% | 15% | 14% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.12 | 0.12 | 0.12 | 0.12 | 2 | 24 | 24 | 24 |
| Reserves | 4 | 3 | 1 | 2 | 22 | 50 | 59 | 71 |
| Borrowings | 18 | 19 | 23 | 18 | 45 | 47 | 44 | 76 |
| Other Liabilities | 4 | 4 | 1 | 17 | 10 | 66 | 28 | 106 |
| Total Liabilities | 27 | 27 | 26 | 38 | 78 | 188 | 155 | 277 |
| Fixed Assets | 18 | 22 | 21 | 20 | 20 | 21 | 20 | 20 |
| CWIP | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Other Assets | 4 | 4 | 4 | 17 | 58 | 165 | 134 | 256 |
| Total Assets | 27 | 27 | 26 | 38 | 78 | 188 | 155 | 277 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 2 | 3 | 0 | 7 | -40 | -34 | 11 | -14 |
| Cash from Investing Activity | -23 | -1 | 0 | -0 | -1 | -4 | 1 | -9 |
| Cash from Financing Activity | 21 | -2 | 0 | -7 | 41 | 38 | -12 | 24 |
| Net Cash Flow | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 1 |
| Free Cash Flow | -20 | 1 | 0 | 7 | -41 | -37 | 10 | -15 |
| CFO/OP | 95% | 226% | 0% | 273% | -348% | -163% | 64% | -45% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 17 | 2 | 2 | 12 | 64 | 47 | 70 |
| Inventory Days | 0 | 3 | 8 | 129 | 17 | 17 | 18 | 17 |
| Days Payable | 1 | 4 | 9 | 5 | 30 | 6 | 29 | |
| Cash Conversion Cycle | 0 | 20 | 5 | 121 | 25 | 51 | 59 | 58 |
| Working Capital Days | -3 | -24 | -471 | -130 | 7 | 35 | 36 | 26 |
| ROCE % | 4% | -1% | 12% | 23% | 20% | 17% | 17% |
| Oct 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Promoters | 60.02% | 60.02% | 60.02% | 60.02% | 60.02% | 60.02% |
| FIIs | 5.24% | 3.42% | 3.04% | 3.47% | 3.63% | 4.10% |
| DIIs | 13.73% | 0.70% | 0.00% | 0.00% | 0.00% | 5.76% |
| Public | 21.00% | 35.85% | 36.94% | 36.50% | 36.35% | 30.12% |
| No. of Shareholders | 1,431 | 807 | 1,022 | 991 | 956 | 890 |
Fundamentals
Market Cap₹ 89.7 Cr.
Current Price₹ 18.8
Stock P/E7.11
Book Value₹ 20.0
ROCE16.6 %
ROE14.2 %
Dividend Yield0.53 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)39%
Compounded Profit Growth (TTM)40%
Standalone figures.
Valuation
Market capRs 81 Cr
Enterprise valueRs 128 Cr
P/E (TTM)8.31x
Price to book1.10x
Price to sales0.14x
EV / EBITDA6.29x
EV / EBIT6.77x
EV / sales0.23x
Earnings yield12.03%
P/E, 3-year average5.73x
P/B, 3-year average0.76x
P/E, 5-year average5.73x
P/B, 5-year average0.76x
Profitability
Operating margin (excl. other income)3.57%
Operating margin (incl. other income)3.60%
EBITDA margin3.60%
Pre-tax margin2.41%
Net profit margin1.73%
ROE19.98%
ROCE19.91%
ROA7.36%
ROE, 3-year average30.89%
ROCE, 3-year average18.18%
ROA, 3-year average6.20%
ROE, 5-year average-2.18%
ROCE, 5-year average11.52%
ROA, 5-year average1.54%
ROIC (approx.)11.23%
Tax rate28.23%
Other income / net worth0.20%
Growth
Sales growth (latest year)31.76%
Profit growth (latest year)76.53%
Sales CAGR, 3 years286.94%
Sales CAGR, 5 years38.05%
Profit CAGR, 5 years93.56%
Per share
EPS (TTM)Rs 2.04
EPS (latest year)Rs 4.09
EPS, 3-year averageRs 24.68
EPS, 5-year averageRs -34.08
Book value per shareRs 15.52
Sales per shareRs 118.08
Cash flow per shareRs -7.20
Free cash flow per shareRs -3.14
Efficiency
Asset turnover3.01x
Fixed asset turnover26.53x
Inventory turnover22.09x
Inventory days17 days
Debtor days64 days
Debtors turnover5.70x
Creditor days29 days
Cash conversion cycle58 days
Working capital days26 days
Leverage
Total debtRs 47 Cr
Cash and bankRs 1 Cr
Net debtRs 47 Cr
Debt to equity0.64x
Net debt / EBITDA2.29x
Interest coverage3.59x
Owners' fund to total sources39.52%
Debt to assets25.26%
Cash flow
Cash from Operating Activity (latest year)Rs -34 Cr
Cash from Investing Activity (latest year)Rs -4 Cr
Cash from Financing Activity (latest year)Rs 38 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -15 Cr
FCFE (approx.: FCF + change in debt)Rs -12 Cr
Cash from ops / profit, 5 years-1.79x
Statement figures
Net sales (TTM)Rs 565 Cr
Net sales (latest year)Rs 565 Cr
Operating profit excl. other income (latest year)Rs 20 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 20 Cr
PBDT (TTM)Rs 15 Cr
Profit before tax (TTM)Rs 14 Cr
Tax (latest year)Rs 4 Cr
Net profit (TTM)Rs 10 Cr
Net profit (latest year)Rs 10 Cr
Depreciation (TTM)Rs 1 Cr
Interest (TTM)Rs 5 Cr
Cost of goods sold (latest year)Rs 539 Cr
Total expenditure (latest year)Rs 545 Cr
Total income (latest year)Rs 565 Cr
Share capitalRs 24 Cr
ReservesRs 50 Cr
Shareholders' fundsRs 74 Cr
Total assetsRs 188 Cr
Net blockRs 21 Cr
InvestmentsRs 1 Cr
ReceivablesRs 99 Cr
InventoryRs 24 Cr
Other liabilitiesRs 66 Cr
Shares outstanding (crore)4.78
Ownership
Promoter holding60.02% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 8.3 is the lowest in its own 2.4-year history
(median 22.4, low 8.3, high 340.4).
P/B 1.10 is the lowest in 3.1 years (median 48.78).
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 | RCDL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +4.6% | -2.8% | +7.4 pts |
| 1 month | +11.1% | -6.8% | +17.9 pts |
| 3 months | -33.7% | -7.6% | -26.1 pts |
| 6 months | -23.4% | +0.4% | -23.8 pts |
| 1 year | -18.3% | -9.9% | -8.4 pts |
| 2 years | -53.2% | -13.6% | -39.7 pts |
Red flags
F-score 3 of 8| explain | Weak cash conversion Cash from operations was -425% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 24% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 593% vs sales +32% in 2026 |
| explain | Share dilution Share count up 1012% in a year, 23800% in three |
| 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 ₹593 Cr +58.6% vs Mar 2024.
Net profit ₹11 Cr +83.3%.
Activity
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|---|---|---|---|
| Marico Ltd | 102,346 | 54.2 | 47.0 % |
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| Sundrop Brands Ltd | 2,831 | 101 | 1.93 % |
| Shri Venkatesh Refineries Ltd | 1,452 | 38.0 | 19.8 % |
| KN Agri Resources Ltd | 500 | 14.0 | 13.6 % |
| Gokul Refoils and Solvent Ltd | 386 | 18.6 | 8.25 % |
| Kriti Nutrients Ltd | 364 | 10.8 | 20.0 % |
| Integrated Proteins Ltd | 249 | 429 | 1.26 % |
| Vijay Solvex Ltd | 207 | 8.69 | 9.00 % |
| Ramdevbaba Solvent Ltd | 204 | 17.8 | 5.39 % |
| Ajanta Soya Ltd | 183 | 12.7 | 8.87 % |
| Prime Industries Ltd | 177 | 19.8 | 26.9 % |
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.
Less than 100 unique PAN traded in previous 30 daysSME scrip is not regularly tradedShort Term Additional Surveillance Measure (Short Term ASM): stage 1