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 | 9 | 5 | 6 | 4 | 14 | 7 | 6 | 9 | 6 | 14 | 5 | 18 |
| Expenses | 8 | 5 | 8 | 4 | 12 | 7 | 2 | 8 | 8 | 10 | 6 | 9 |
| Operating Profit | 1 | 0 | -2 | -0 | 3 | -0 | 4 | 1 | -1 | 5 | -1 | 10 |
| OPM % | 7% | 10% | -26% | -6% | 19% | -1.4% | 61% | 14% | -20% | 34% | -23% | 52% |
| Other Income | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 1 | 3 | 1 | 2 | 1 |
| Interest | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Profit before tax | 0 | -0 | -2 | -0 | 3 | 0 | 5 | 1 | 1 | 5 | -0 | 10 |
| Tax % | 0% | -1,050% | 1% | 0% | 0% | 50% | 23% | 0% | -2% | -1% | 5,125% | 0% |
| Net Profit | 0 | 1 | -2 | -0 | 3 | 0 | 4 | 1 | 1 | 5 | -2 | 10 |
| EPS in Rs | 0.06 | 0.86 | -2.51 | -0.37 | 3.20 | 0.14 | 4.24 | 1.60 | 0.73 | 5.61 | -2.33 | 11.17 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 32 | 42 | 28 | 18 | 21 | 28 | 55 | 58 | 31 | 32 | 35 | 44 |
| Expenses | 21 | 18 | 25 | 15 | 16 | 17 | 21 | 37 | 30 | 26 | 31 | 32 |
| Operating Profit | 11 | 24 | 3 | 4 | 5 | 10 | 34 | 20 | 1 | 6 | 4 | 12 |
| OPM % | 35% | 57% | 10% | 20% | 22% | 38% | 62% | 35% | 2.0% | 19% | 12% | 27% |
| Other Income | 0 | 0 | 4 | 1 | 7 | 4 | 2 | 1 | 1 | 5 | 5 | 6 |
| Interest | 7 | 5 | 3 | 2 | 2 | 1 | 0 | 0 | 1 | 2 | 1 | 1 |
| Depreciation | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 4 | 18 | 2 | 1 | 8 | 13 | 35 | 20 | -2 | 8 | 7 | 16 |
| Tax % | 36% | 25% | 84% | -49% | 11% | 15% | 4% | 18% | -46% | 16% | 28% | |
| Net Profit | 2 | 14 | 0 | 1 | 7 | 11 | 34 | 16 | -1 | 6 | 5 | 14 |
| EPS in Rs | 2.50 | 15.18 | 0.39 | 1.24 | 8.23 | 12.70 | 37.72 | 17.94 | -1.06 | 7.20 | 5.68 | 15.18 |
| 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 | 1% | 5% | -15% | 21% | ||
| Compounded Profit Growth | 8% | -15% | -32% | 65% | ||
| Stock Price CAGR | 6% | 14% | -3% | -10% | ||
| Return on Equity | 9% | 9% | 2% | 3% |
| 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 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 50 | 53 | 66 | 67 | 68 | 75 | 86 | 120 | 136 | 135 | 142 | 147 |
| Borrowings | 55 | 45 | 30 | 31 | 32 | 27 | 3 | 15 | 22 | 31 | 20 | 17 |
| Other Liabilities | 112 | 121 | 111 | 92 | 79 | 68 | 78 | 76 | 60 | 59 | 47 | 39 |
| Total Liabilities | 226 | 228 | 217 | 198 | 188 | 180 | 176 | 220 | 228 | 234 | 218 | 212 |
| Fixed Assets | 5 | 4 | 14 | 18 | 17 | 14 | 13 | 14 | 15 | 14 | 15 | 15 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 4 | 4 | 11 | 5 | 6 | 7 | 4 | 16 | 9 | 30 | 4 | 7 |
| Other Assets | 217 | 220 | 191 | 175 | 165 | 158 | 160 | 191 | 204 | 190 | 198 | 191 |
| Total Assets | 226 | 228 | 217 | 198 | 188 | 180 | 176 | 220 | 228 | 234 | 218 | 212 |
| 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 | 39 | 21 | 27 | -3 | 6 | 1 | 20 | -3 | -10 | 15 | -14 | 2 |
| Cash from Investing Activity | -1 | 0 | -5 | 1 | -1 | 0 | 5 | -12 | 5 | -22 | 27 | 1 |
| Cash from Financing Activity | -37 | -17 | -21 | 1 | 0 | -6 | -23 | 12 | 6 | 7 | -14 | -3 |
| Net Cash Flow | 1 | 5 | 1 | -1 | 5 | -5 | 2 | -2 | 1 | 1 | -0 | 1 |
| Free Cash Flow | 38 | 21 | 24 | -6 | 5 | 1 | 21 | -6 | -13 | 13 | -16 | 2 |
| CFO/OP | 158% | 214% | 124% | -51% | 153% | 47% | 218% | 4% | -30% | 2,356% | -209% | 102% |
| 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 | 45 | 40 | 28 | 108 | 28 | 7 | 57 | 29 | 56 | 21 | 9 | 14 |
| Inventory Days | 4,139 | 5,332 | 1,929 | |||||||||
| Days Payable | 43 | 53 | 3 | |||||||||
| Cash Conversion Cycle | 45 | 40 | 28 | 108 | 28 | 7 | 57 | 29 | 4,152 | 5,300 | 9 | 1,941 |
| Working Capital Days | 193 | 718 | 694 | 1,070 | 1,599 | 1,459 | 1,226 | 603 | 658 | 1,177 | 1,415 | 1,189 |
| ROCE % | 9% | 22% | 5% | 3% | 9% | 13% | 29% | 13% | -0% | 5% | 5% |
| 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 | 71.31% | 71.31% | 71.31% | 71.31% | 71.31% | 71.31% | 71.31% | 71.31% | 71.31% | 71.31% | 71.31% | 71.31% |
| Public | 28.69% | 28.69% | 28.69% | 28.70% | 28.69% | 28.69% | 28.68% | 28.68% | 28.68% | 28.68% | 28.70% | 28.68% |
| No. of Shareholders | 1,337 | 1,327 | 1,465 | 1,387 | 1,318 | 1,376 | 1,351 | 1,399 | 1,417 | 1,382 | 1,387 | 1,377 |
Fundamentals
Market Cap₹ 118 Cr.
Current Price₹ 135
Stock P/E8.63
Book Value₹ 185
ROCE4.55 %
ROE3.33 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)21%
Compounded Profit Growth (TTM)65%
Consolidated figures.
Valuation
Market capRs 116 Cr
Enterprise valueRs 126 Cr
P/E (TTM)8.48x
Price to book0.74x
Price to sales2.63x
EV / EBITDA6.96x
EV / EBIT7.74x
EV / sales2.87x
Price to cash flow46.53x
Earnings yield11.79%
P/E, 3-year average19.71x
P/B, 3-year average0.84x
P/E, 5-year average12.29x
P/B, 5-year average0.80x
Profitability
Operating margin (excl. other income)12.38%
Operating margin (incl. other income)27.49%
EBITDA margin41.20%
Pre-tax margin35.55%
Net profit margin31.01%
Net margin, latest quarter54.68%
ROE3.33%
ROCE4.55%
ROA2.37%
ROE, 3-year average2.35%
ROCE, 3-year average3.27%
ROA, 3-year average1.61%
ROE, 5-year average9.81%
ROCE, 5-year average10.40%
ROA, 5-year average5.83%
ROIC (approx.)7.05%
Tax rate27.93%
Other income / net worth3.42%
Growth
Sales growth (latest year)12.03%
Profit growth (latest year)-21.14%
Sales CAGR, 3 years-15.07%
Sales CAGR, 5 years5.10%
Profit CAGR, 3 years-31.86%
Profit CAGR, 5 years-14.87%
Sales growth QoQ284.52%
Sales growth YoY (latest quarter)104.45%
Profit growth YoY (latest quarter)597.92%
Per share
EPS (TTM)Rs 15.18
EPS (latest year)Rs 5.68
EPS (latest quarter)Rs 11.17
EPS, 3-year averageRs 3.94
EPS, 5-year averageRs 13.50
Book value per shareRs 173.66
Sales per shareRs 48.94
Cash flow per shareRs 2.77
Free cash flow per shareRs 2.22
Efficiency
Asset turnover0.17x
Fixed asset turnover2.43x
Inventory turnover0.22x
Inventory days1683 days
Debtor days14 days
Debtors turnover25.46x
Creditor days3 days
Cash conversion cycle1941 days
Working capital days1189 days
Leverage
Total debtRs 17 Cr
Cash and bankRs 7 Cr
Net debtRs 10 Cr
Debt to equity0.11x
Net debt / EBITDA0.58x
Interest coverage24.73x
Owners' fund to total sources73.56%
Debt to assets8.04%
Cash flow
Cash from Operating Activity (latest year)Rs 2 Cr
Cash from Investing Activity (latest year)Rs 1 Cr
Cash from Financing Activity (latest year)Rs -3 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs 2 Cr
FCFE (approx.: FCF + change in debt)Rs -0 Cr
Cash from ops / profit, 5 years-0.17x
Sales to cash flow14.21x
Statement figures
Net sales (TTM)Rs 44 Cr
Net sales (latest year)Rs 35 Cr
Sales (latest quarter)Rs 18 Cr
Operating profit excl. other income (latest year)Rs 4 Cr
Operating profit (latest quarter)Rs 10 Cr
Other income (TTM)Rs 6 Cr
EBITDA (TTM)Rs 18 Cr
PBDT (TTM)Rs 17 Cr
Profit before tax (TTM)Rs 16 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 14 Cr
Net profit (latest year)Rs 5 Cr
Net profit (latest quarter)Rs 10 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 19 Cr
Total expenditure (latest year)Rs 31 Cr
Total income (latest year)Rs 41 Cr
Share capitalRs 9 Cr
ReservesRs 147 Cr
Shareholders' fundsRs 156 Cr
Total assetsRs 212 Cr
Net blockRs 15 Cr
InvestmentsRs 7 Cr
ReceivablesRs 1 Cr
InventoryRs 90 Cr
Other liabilitiesRs 39 Cr
Shares outstanding (crore)0.90
Ownership
Promoter holding71.31% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | THAKDEV | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.1% | -2.8% | +0.7 pts |
| 1 month | -14.2% | -6.8% | -7.4 pts |
| 3 months | -2.4% | -7.6% | +5.2 pts |
Red flags
F-score 5 of 8| explain | Weak cash conversion Cash from operations was 37% of net profit over the last 3 years |
| look | Profit leans on other income Other income was 75% 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 ₹18 Cr +100.0% vs Jun 2025.
Net profit ₹10 Cr +900.0%.
Activity
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| 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 % |
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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 days