Price
Financials
Standalone, Rs crore| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 68 | 184 | 316 | 292 | 395 | 492 |
| Expenses | 59 | 159 | 258 | 223 | 326 | 408 |
| Operating Profit | 9 | 24 | 58 | 68 | 69 | 83 |
| OPM % | 14% | 13% | 18% | 23% | 18% | 17% |
| Other Income | 0 | 1 | 1 | 1 | 3 | 3 |
| Interest | 3 | 5 | 9 | 19 | 22 | 22 |
| Depreciation | 2 | 2 | 6 | 8 | 12 | 14 |
| Profit before tax | 5 | 18 | 44 | 43 | 39 | 51 |
| Tax % | 12% | 26% | 24% | 37% | 20% | 25% |
| Net Profit | 4 | 13 | 33 | 27 | 31 | 39 |
| EPS in Rs | 13.37 | 43.90 | 4.45 | 1.20 | 1.38 | 1.71 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 49% | 16% | 24% | ||
| Compounded Profit Growth | % | 57% | 5% | 31% | ||
| Stock Price CAGR | % | % | % | % | ||
| Return on Equity | % | 35% | 27% | 25% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 15 | 45 | 45 | 45 |
| Reserves | 6 | 21 | 42 | 58 | 87 | 128 |
| Borrowings | 24 | 56 | 126 | 230 | 271 | 335 |
| Other Liabilities | 20 | 68 | 65 | 89 | 140 | 171 |
| Total Liabilities | 53 | 148 | 247 | 422 | 544 | 679 |
| Fixed Assets | 20 | 60 | 138 | 209 | 288 | 364 |
| CWIP | 8 | 45 | 44 | 64 | 116 | 165 |
| Investments | 7 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 18 | 43 | 66 | 149 | 141 | 151 |
| Total Assets | 53 | 148 | 247 | 422 | 544 | 679 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 2 | 27 | 46 | 21 | 107 | 100 |
| Cash from Investing Activity | -11 | -26 | -90 | -126 | -123 | -145 |
| Cash from Financing Activity | 9 | -5 | 37 | 104 | 12 | 48 |
| Net Cash Flow | -0 | -4 | -6 | -1 | -4 | 4 |
| Free Cash Flow | -8 | 5 | -36 | -79 | -33 | -39 |
| CFO/OP | 23% | 111% | 80% | 31% | 168% | 130% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 24 | 35 | 22 | 29 | 28 | 29 |
| Inventory Days | 42 | 7 | 13 | 94 | 59 | 44 |
| Days Payable | 94 | 74 | 35 | 74 | 100 | 99 |
| Cash Conversion Cycle | -28 | -32 | 1 | 49 | -13 | -26 |
| Working Capital Days | -30 | -100 | -88 | -99 | -132 | -167 |
| ROCE % | 41% | 41% | 24% | 16% | 16% |
| Sep 2026 | |
|---|---|
| Promoters | 77.96% |
| FIIs | 1.58% |
| DIIs | 8.00% |
| Government | 0.01% |
| Public | 12.46% |
| No. of Shareholders | 99,785 |
Fundamentals
Market Cap₹ 3,058 Cr.
Current Price₹ 111
Stock P/E79.2
Book Value₹
ROCE16.0 %
ROE25.3 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)24%
Compounded Profit Growth (TTM)31%
Standalone figures.
Valuation
Market capRs 2,938 Cr
Enterprise valueRs 2,992 Cr
P/E (TTM)223.10x
Price to book122.63x
Price to sales15.99x
EV / EBITDA117.73x
EV / EBIT130.07x
EV / sales16.28x
Price to cash flow109.07x
Earnings yield0.45%
Profitability
Operating margin (excl. other income)13.25%
Operating margin (incl. other income)13.83%
EBITDA margin13.83%
Pre-tax margin9.70%
Net profit margin7.17%
ROE79.58%
ROCE40.75%
ROA13.10%
ROIC (approx.)21.98%
Tax rate26.14%
Other income / net worth4.42%
Growth
Sales growth (latest year)171.14%
Profit growth (latest year)228.43%
Per share
EPS (TTM)Rs 0.48
EPS (latest year)Rs 43.90
Book value per shareRs 0.87
Sales per shareRs 6.66
Cash flow per shareRs 0.98
Free cash flow per shareRs -1.41
Efficiency
Asset turnover1.24x
Fixed asset turnover3.05x
Inventory turnover53.80x
Inventory days7 days
Debtor days35 days
Debtors turnover10.42x
Creditor days99 days
Cash conversion cycle-26 days
Working capital days-167 days
Leverage
Total debtRs 56 Cr
Cash and bankRs 2 Cr
Net debtRs 53 Cr
Debt to equity2.32x
Net debt / EBITDA2.10x
Interest coverage4.45x
Owners' fund to total sources16.23%
Debt to assets37.60%
Cash flow
Cash from Operating Activity (latest year)Rs 27 Cr
Cash from Investing Activity (latest year)Rs -26 Cr
Cash from Financing Activity (latest year)Rs -5 Cr
Net Cash Flow (latest year)Rs -4 Cr
Free cash flow (latest year)Rs -39 Cr
FCFE (approx.: FCF + change in debt)Rs -8 Cr
Cash from ops / profit, 5 years2.10x
Sales to cash flow6.82x
Statement figures
Net sales (TTM)Rs 184 Cr
Net sales (latest year)Rs 184 Cr
Operating profit excl. other income (latest year)Rs 24 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 25 Cr
PBDT (TTM)Rs 20 Cr
Profit before tax (TTM)Rs 18 Cr
Tax (latest year)Rs 5 Cr
Net profit (TTM)Rs 13 Cr
Net profit (latest year)Rs 13 Cr
Depreciation (TTM)Rs 2 Cr
Interest (TTM)Rs 5 Cr
Cost of goods sold (latest year)Rs 146 Cr
Total expenditure (latest year)Rs 159 Cr
Total income (latest year)Rs 185 Cr
Share capitalRs 3 Cr
ReservesRs 21 Cr
Shareholders' fundsRs 24 Cr
Total assetsRs 148 Cr
Net blockRs 60 Cr
Capital work in progressRs 45 Cr
ReceivablesRs 18 Cr
InventoryRs 3 Cr
Other liabilitiesRs 68 Cr
Shares outstanding (crore)27.59
Ownership
Promoter holding77.96%
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 | STEAMHOUSE | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -6.3% | -2.8% | -3.6 pts |
Red flags
F-score 6 of 8No red flags in the latest statements and filings.
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
No quarterly results published.
Activity
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|---|---|---|---|
| Linde India Ltd | 52,869 | 96.3 | 18.2 % |
| Ellenbarrie Industrial Gases Ltd | 5,205 | 43.2 | 14.5 % |
| Stallion India Fluorochemicals Ltd | 2,548 | 49.0 | 11.8 % |
| Hilltone Software & Gases Ltd | 51 | 0.79 % | |
| National Oxygen Ltd | 26 | -21.5 % | |
| Bhagawati Gas Ltd | 15 | 15.0 | 6.10 % |
| Gagan Gases Ltd | 9 | 37.0 | 5.57 % |
No bulk or block deals on record.
No corporate actions on record.
| Date | Type | What it says |
|---|---|---|
| 2026-09-30 | Concall / analyst meet | Schedule of meet |
| 2026-09-24 | Order win | Bagging/Receiving of orders/contracts |
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.
Not on any NSE surveillance list in the latest file.