Price
Financials
Standalone, Rs crore| Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales | 39.93 | 28.41 | 38.41 | 21.44 | 51.44 |
| Expenses | 35.92 | 21.93 | 33.50 | 18.87 | 43.54 |
| Operating Profit | 4.01 | 6.48 | 4.91 | 2.57 | 7.90 |
| OPM % | 10.04% | 22.81% | 12.78% | 11.99% | 15.36% |
| Other Income | 3.78 | 0.56 | 0.51 | 0.85 | 0.14 |
| Interest | 2.13 | 2.00 | 1.37 | 1.28 | 1.33 |
| Depreciation | 0.92 | 0.98 | 0.99 | 1.01 | 1.05 |
| Profit before tax | 4.74 | 4.06 | 3.06 | 1.13 | 5.66 |
| Tax % | 21.31% | 24.88% | 26.47% | 25.66% | 26.33% |
| Net Profit | 3.73 | 3.06 | 2.24 | 0.84 | 4.17 |
| EPS in Rs | 2.20 | 1.18 | 0.44 | 2.19 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 36.82 | 33.10 | 47.55 | 69.60 | 60.03 | 66.52 | 72.71 |
| Expenses | 32.75 | 29.03 | 41.38 | 61.82 | 50.04 | 55.13 | 62.25 |
| Operating Profit | 4.07 | 4.07 | 6.17 | 7.78 | 9.99 | 11.39 | 10.46 |
| OPM % | 11.05% | 12.30% | 12.98% | 11.18% | 16.64% | 17.12% | 14.39% |
| Other Income | 0.16 | 0.18 | 0.15 | 0.44 | 3.90 | 1.07 | 1.00 |
| Interest | 1.12 | 1.36 | 2.96 | 3.92 | 4.20 | 3.37 | 2.61 |
| Depreciation | 0.84 | 0.89 | 1.21 | 1.48 | 1.83 | 1.97 | 2.06 |
| Profit before tax | 2.27 | 2.00 | 2.15 | 2.82 | 7.86 | 7.12 | 6.79 |
| Tax % | 27.75% | 25.00% | 28.84% | 24.82% | 20.61% | 25.56% | 26.22% |
| Net Profit | 1.64 | 1.50 | 1.53 | 2.12 | 6.24 | 5.30 | 5.01 |
| EPS in Rs | 2.79 | 2.64 | |||||
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 17% | 1% | 9% | ||
| Compounded Profit Growth | % | 27% | 33% | -5% | ||
| Stock Price CAGR | % | % | % | 170% | ||
| Return on Equity | % | 12% | 12% | 8% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 4.25 | 4.25 | 4.25 | 4.25 | 12.75 | 19.00 | 19.00 |
| Reserves | 4.74 | 6.25 | 7.77 | 9.89 | 7.69 | 39.52 | 44.53 |
| Borrowings | 9.57 | 31.28 | 37.62 | 32.96 | 36.92 | 17.83 | 18.90 |
| Other Liabilities | 4.85 | 7.70 | 12.99 | 17.71 | 13.16 | 11.58 | 11.63 |
| Total Liabilities | 23.41 | 49.48 | 62.63 | 64.81 | 70.52 | 87.93 | 94.06 |
| Fixed Assets | 0.00 | 0.00 | 23.76 | 24.55 | 34.61 | 34.95 | 35.90 |
| CWIP | 0.00 | 15.20 | 10.63 | 11.24 | 0.98 | 0.98 | 4.30 |
| Investments | 0.00 | 0.00 | 1.71 | 1.59 | 1.72 | 1.99 | 2.66 |
| Other Assets | 23.41 | 34.28 | 26.53 | 27.43 | 33.21 | 50.01 | 51.20 |
| Total Assets | 23.41 | 49.48 | 62.63 | 64.81 | 70.52 | 87.93 | 94.06 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 3.25 | 0.00 | 2.41 | 7.64 | 3.27 | -6.83 | 8.08 |
| Cash from Investing Activity | -0.36 | -21.67 | -5.13 | -2.76 | -1.75 | -2.58 | -7.11 |
| Cash from Financing Activity | -2.17 | 21.65 | 3.64 | -5.20 | -2.10 | 9.50 | -1.28 |
| Net Cash Flow | 0.72 | -0.02 | 0.92 | -0.32 | -0.57 | 0.09 | -0.31 |
| Free Cash Flow | 3.10 | -21.44 | -2.01 | 4.76 | 1.63 | -9.13 | 1.75 |
| CFO/OP | 95% | 13% | 49% | 107% | 33% | -60% | 77% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 62.95 | 76.09 | 60.33 | 38.34 | 80.02 | 102.11 | 84.13 |
| Inventory Days | 87.02 | 141.55 | 213.41 | 134.88 | 152.08 | 257.58 | 263.11 |
| Days Payable | 45.39 | 92.76 | 147.34 | 104.83 | 68.17 | 55.45 | 62.98 |
| Cash Conversion Cycle | 104.58 | 124.87 | 126.40 | 68.39 | 163.93 | 304.24 | 284.26 |
| Working Capital Days | 83.37 | 110.82 | 19.27 | 7.76 | 11.55 | 155.45 | 127.56 |
| ROCE % | 11.14% | 11.53% | 13.95% | 16.16% | 15.69% | 11.84% |
| Oct 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|
| Promoters | 67.09% | 67.46% | 67.63% | 67.74% |
| FIIs | 4.73% | 0.62% | 0.26% | 0.26% |
| DIIs | 7.95% | 3.58% | 3.28% | 0.89% |
| Public | 20.24% | 28.34% | 28.83% | 31.10% |
| No. of Shareholders | 1,196 | 803 | 810 | 830 |
Fundamentals
Market Cap₹ 379 Cr.
Current Price₹ 200
Stock P/E75.7
Book Value₹ 33.4
ROCE11.8 %
ROE8.21 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)9%
Compounded Profit Growth (TTM)-5%
Standalone figures.
Valuation
Market capRs 365 Cr
Enterprise valueRs 397 Cr
P/E (TTM)172.20x
Price to book25.82x
Price to sales5.25x
EV / EBITDA48.32x
EV / EBIT58.93x
EV / sales5.71x
Price to cash flow47.78x
Earnings yield0.58%
Profitability
Operating margin (excl. other income)11.18%
Operating margin (incl. other income)11.81%
EBITDA margin11.81%
Pre-tax margin4.05%
Net profit margin3.05%
ROE16.21%
ROCE13.93%
ROA3.33%
ROE, 3-year average15.06%
ROCE, 3-year average12.08%
ROA, 3-year average3.39%
ROIC (approx.)10.95%
Tax rate24.82%
Other income / net worth3.11%
Growth
Sales growth (latest year)46.37%
Profit growth (latest year)38.56%
Sales CAGR, 3 years23.64%
Profit CAGR, 3 years8.93%
Per share
EPS (TTM)Rs 1.12
EPS (latest year)Rs 4.99
EPS, 3-year averageRs 4.04
Book value per shareRs 7.44
Sales per shareRs 36.62
Cash flow per shareRs 4.02
Free cash flow per shareRs 0.92
Efficiency
Asset turnover1.07x
Fixed asset turnover2.83x
Inventory turnover3.40x
Inventory days107 days
Debtor days38 days
Debtors turnover9.52x
Creditor days63 days
Cash conversion cycle284 days
Working capital days128 days
Leverage
Total debtRs 33 Cr
Cash and bankRs 1 Cr
Net debtRs 32 Cr
Debt to equity2.33x
Net debt / EBITDA3.91x
Interest coverage1.72x
Owners' fund to total sources21.82%
Debt to assets50.86%
Cash flow
Cash from Operating Activity (latest year)Rs 8 Cr
Cash from Investing Activity (latest year)Rs -3 Cr
Cash from Financing Activity (latest year)Rs -5 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs 2 Cr
FCFE (approx.: FCF + change in debt)Rs -3 Cr
Cash from ops / profit, 5 years0.72x
Sales to cash flow9.11x
Statement figures
Net sales (TTM)Rs 70 Cr
Net sales (latest year)Rs 70 Cr
Operating profit excl. other income (latest year)Rs 8 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 8 Cr
PBDT (TTM)Rs 4 Cr
Profit before tax (TTM)Rs 3 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 2 Cr
Net profit (latest year)Rs 2 Cr
Depreciation (TTM)Rs 1 Cr
Interest (TTM)Rs 4 Cr
Cost of goods sold (latest year)Rs 51 Cr
Total expenditure (latest year)Rs 62 Cr
Total income (latest year)Rs 70 Cr
Share capitalRs 4 Cr
ReservesRs 10 Cr
Shareholders' fundsRs 14 Cr
Total assetsRs 65 Cr
Net blockRs 25 Cr
Capital work in progressRs 11 Cr
InvestmentsRs 2 Cr
ReceivablesRs 7 Cr
InventoryRs 15 Cr
Other liabilitiesRs 18 Cr
Shares outstanding (crore)1.90
Ownership
Promoter holding67.74%
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 172.2 is at the 92th percentile of its own 2.1-year range
(median 89.3, low 54.6, high 175.7).
P/B 25.82 is at the 92th percentile (median 11.47).
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 | UHTL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -1.9% | -2.8% | +0.9 pts |
| 1 month | +28.6% | -6.8% | +35.4 pts |
| 3 months | +55.9% | -7.6% | +63.5 pts |
| 6 months | +276.7% | +0.4% | +276.3 pts |
| 1 year | +163.3% | -9.9% | +173.2 pts |
Red flags
F-score 7 of 8| look | On NSE surveillance On NSE surveillance: ESM |
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 ₹51 Cr +28.8% vs Mar 2024.
Net profit ₹4 Cr +11.8%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| HBL Engineering Ltd | 22,406 | 28.0 | 59.3 % |
| Inox India Ltd | 18,792 | 73.1 | 33.5 % |
| KRN Heat Exchanger and Refrigeration Ltd | 9,446 | 97.4 | 16.1 % |
| Esab India Ltd | 8,482 | 41.0 | 64.7 % |
| Subros Ltd | 4,580 | 26.6 | 19.2 % |
| Harsha Engineers International Ltd | 4,234 | 27.4 | 13.0 % |
| Ador Welding Ltd | 2,812 | 23.5 | 22.7 % |
| Diffusion Engineers Ltd | 1,678 | 30.4 | 15.8 % |
| Sahasra Electronic Solutions Ltd | 1,082 | 76.2 | 6.04 % |
| MIC Electronics Ltd | 1,068 | 8.67 % | |
| Tankup Engineers Ltd | 910 | 190 | 19.0 % |
| Vilas Transcore Ltd | 895 | 23.2 | 15.9 % |
| Oriental Rail Infrastructure Ltd | 826 | 17.5 | 12.0 % |
| Technocrats Plasma Systems Ltd | 708 | 47.4 | 67.0 % |
| Hy-Tech Engineers Ltd | 660 | 28.8 | 23.9 % |
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.
ESM: stage 2Less than 100 unique PAN traded in previous 30 daysSME scrip is not regularly traded