Price
Financials
Standalone, 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 | 140.32 | 160.87 | 159.39 | 55.42 | 76.47 | 44.76 | 112.49 | 58.16 | 57.71 | 47.41 | 48.05 | 46.25 |
| Expenses | 131.12 | 149.67 | 146.98 | 49.79 | 78.02 | 39.71 | 118.91 | 64.03 | 51.88 | 49.95 | 30.72 | 39.18 |
| Operating Profit | 9.20 | 11.20 | 12.41 | 5.63 | -1.55 | 5.05 | -6.42 | -5.87 | 5.83 | -2.54 | 17.33 | 7.07 |
| OPM % | 6.56% | 6.96% | 7.79% | 10.16% | -2.03% | 11.28% | -5.71% | -10.09% | 10.10% | -5.36% | 36.07% | 15.29% |
| Other Income | 0.34 | 0.45 | 9.20 | 0.17 | 0.45 | 0.17 | 5.57 | 0.18 | 0.13 | 0.04 | 2.72 | 0.21 |
| Interest | 1.39 | 1.32 | 1.51 | 1.69 | 1.57 | 1.38 | 1.86 | 2.40 | 2.64 | 1.70 | 1.73 | 2.64 |
| Depreciation | 1.51 | 1.57 | 1.60 | 1.66 | 2.32 | 2.23 | 3.58 | 2.21 | 2.25 | 2.22 | 2.28 | 2.21 |
| Profit before tax | 6.64 | 8.76 | 18.50 | 2.45 | -4.99 | 1.61 | -6.29 | -10.30 | 1.07 | -6.42 | 16.04 | 2.43 |
| Tax % | 24.10% | 31.05% | 24.97% | 25.31% | -14.03% | 6.21% | -0.64% | -25.05% | 23.36% | -25.39% | 16.77% | -0.82% |
| Net Profit | 5.04 | 6.05 | 13.87 | 1.83 | -4.29 | 1.50 | -6.25 | -7.73 | 0.82 | -4.79 | 13.35 | 2.46 |
| EPS in Rs | 0.91 | 1.09 | 2.51 | 0.33 | -0.77 | 0.27 | -1.13 | -1.40 | 0.15 | -0.87 | 2.41 | 0.44 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 194 | 210 | 186 | 287 | 577 | 289 | 211 | 199 |
| Expenses | 169 | 187 | 161 | 255 | 535 | 286 | 197 | 172 |
| Operating Profit | 24 | 23 | 24 | 31 | 42 | 3 | 15 | 28 |
| OPM % | 13% | 11% | 13% | 11% | 7% | 1.0% | 7% | 14% |
| Other Income | 1 | -1 | 1 | 1 | 10 | 6 | 3 | 3 |
| Interest | 5 | 5 | 3 | 4 | 5 | 7 | 9 | 9 |
| Depreciation | 6 | 5 | 5 | 6 | 6 | 10 | 9 | 9 |
| Profit before tax | 14 | 12 | 16 | 22 | 41 | -7 | 0 | 13 |
| Tax % | 26% | 24% | 24% | 25% | 26% | -0% | -337% | |
| Net Profit | 10 | 9 | 12 | 16 | 30 | -7 | 2 | 12 |
| EPS in Rs | 2.87 | 2.55 | 3.39 | 2.90 | 5.44 | -1.30 | 0.30 | 2.13 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 0% | -10% | -32% | ||
| Compounded Profit Growth | % | -30% | -53% | 171% | ||
| Stock Price CAGR | % | % | -18% | -38% | ||
| Return on Equity | % | 8% | 4% | 1% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 36 | 36 | 36 | 55 | 55 | 55 | 55 |
| Reserves | 10 | 20 | 26 | 89 | 120 | 113 | 115 |
| Borrowings | 34 | 31 | 26 | 45 | 38 | 60 | 77 |
| Other Liabilities | 77 | 60 | 68 | 96 | 109 | 101 | 118 |
| Total Liabilities | 158 | 147 | 157 | 285 | 322 | 330 | 365 |
| Fixed Assets | 31 | 26 | 38 | 53 | 47 | 69 | 64 |
| CWIP | 0 | 0 | 0 | 0 | 4 | 4 | 4 |
| Investments | 0 | 0 | 0 | 0 | 19 | 0 | 0 |
| Other Assets | 127 | 121 | 119 | 231 | 253 | 257 | 297 |
| Total Assets | 158 | 147 | 157 | 285 | 322 | 330 | 365 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 21 | 17 | 32 | 20 | -48 | -8 | 9 |
| Cash from Investing Activity | -7 | 1 | -17 | -21 | -18 | -9 | -3 |
| Cash from Financing Activity | -15 | -14 | -5 | 66 | -12 | 15 | 8 |
| Net Cash Flow | -0 | 5 | 10 | 65 | -78 | -1 | 14 |
| Free Cash Flow | 14 | 18 | 14 | 5 | -52 | -42 | 6 |
| CFO/OP | 97% | 82% | 145% | 77% | -100% | -273% | 61% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 111 | 73 | 72 | 38 | 31 | 34 | 40 |
| Inventory Days | 148 | 93 | 29 | 117 | 623 | 365 | 809 |
| Days Payable | 765 | 359 | 301 | 290 | 630 | 234 | 339 |
| Cash Conversion Cycle | -506 | -193 | -200 | -135 | 24 | 165 | 509 |
| Working Capital Days | 13 | -4 | -23 | -20 | 33 | 74 | 85 |
| ROCE % | 22% | 23% | 18% | 22% | -1% | 4% |
| 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 | 65.93% | 65.94% | 65.94% | 65.94% | 65.95% | 65.95% | 65.95% | 65.95% | 65.95% | 65.95% | 67.35% | 67.35% |
| FIIs | 0.35% | 0.49% | 0.14% | 0.12% | 0.06% | 0.08% | 0.09% | 0.06% | 0.06% | 0.00% | 0.00% | 0.00% |
| DIIs | 0.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 33.57% | 33.57% | 33.92% | 33.94% | 33.98% | 33.97% | 33.96% | 33.99% | 33.98% | 34.05% | 32.65% | 32.65% |
| No. of Shareholders | 25,501 | 23,724 | 29,323 | 31,902 | 34,053 | 33,819 | 32,938 | 32,000 | 30,944 | 29,865 | 28,804 | 28,190 |
Fundamentals
Market Cap₹ 112 Cr.
Current Price₹ 20.1
Stock P/E9.42
Book Value₹ 30.8
ROCE3.74 %
ROE0.98 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-32%
Compounded Profit Growth (TTM)171%
Standalone figures.
Valuation
Market capRs 102 Cr
Enterprise valueRs 67 Cr
P/E (TTM)8.60x
Price to book0.71x
Price to sales0.51x
EV / EBITDA2.17x
EV / EBIT3.06x
EV / sales0.33x
Price to cash flow5.11x
Earnings yield11.63%
Profitability
Operating margin (excl. other income)10.92%
Operating margin (incl. other income)11.27%
EBITDA margin15.44%
Pre-tax margin6.58%
Net profit margin5.94%
Net margin, latest quarter5.32%
ROE15.55%
ROCE18.65%
ROA7.27%
ROE, 3-year average18.17%
ROCE, 3-year average20.69%
ROA, 3-year average7.18%
ROIC (approx.)14.93%
Tax rate25.37%
Other income / net worth0.70%
Growth
Sales growth (latest year)54.41%
Profit growth (latest year)29.75%
Sales CAGR, 3 years13.97%
Profit CAGR, 3 years15.23%
Sales growth QoQ-3.75%
Profit growth QoQ-81.57%
Sales growth YoY (latest quarter)-20.48%
Per share
EPS (TTM)Rs 2.14
EPS (latest year)Rs 2.90
EPS (latest quarter)Rs 0.44
EPS, 3-year averageRs 2.95
Book value per shareRs 26.05
Sales per shareRs 36.02
Cash flow per shareRs 3.60
Free cash flow per shareRs 1.08
Efficiency
Asset turnover1.01x
Fixed asset turnover5.37x
Inventory turnover16.25x
Inventory days22 days
Debtor days38 days
Debtors turnover9.55x
Creditor days339 days
Cash conversion cycle509 days
Working capital days85 days
Leverage
Total debtRs 45 Cr
Cash and bankRs 80 Cr
Net debtRs -35 Cr
Debt to equity0.31x
Net debt / EBITDA-1.14x
Interest coverage2.51x
Owners' fund to total sources50.66%
Debt to assets15.76%
Cash flow
Cash from Operating Activity (latest year)Rs 20 Cr
Cash from Investing Activity (latest year)Rs -21 Cr
Cash from Financing Activity (latest year)Rs 66 Cr
Net Cash Flow (latest year)Rs 65 Cr
Free cash flow (latest year)Rs 6 Cr
FCFE (approx.: FCF + change in debt)Rs 24 Cr
Cash from ops / profit, 5 years0.09x
Sales to cash flow14.37x
Statement figures
Net sales (TTM)Rs 199 Cr
Net sales (latest year)Rs 287 Cr
Sales (latest quarter)Rs 46 Cr
Operating profit excl. other income (latest year)Rs 31 Cr
Operating profit (latest quarter)Rs 7 Cr
Other income (TTM)Rs 3 Cr
EBITDA (TTM)Rs 31 Cr
PBDT (TTM)Rs 22 Cr
Profit before tax (TTM)Rs 13 Cr
Tax (latest year)Rs 5 Cr
Net profit (TTM)Rs 12 Cr
Net profit (latest year)Rs 16 Cr
Net profit (latest quarter)Rs 2 Cr
Depreciation (TTM)Rs 9 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 9 Cr
Cost of goods sold (latest year)Rs 246 Cr
Total expenditure (latest year)Rs 255 Cr
Total income (latest year)Rs 288 Cr
Share capitalRs 55 Cr
ReservesRs 89 Cr
Shareholders' fundsRs 144 Cr
Total assetsRs 285 Cr
Net blockRs 53 Cr
ReceivablesRs 30 Cr
InventoryRs 15 Cr
Other liabilitiesRs 96 Cr
Shares outstanding (crore)5.54
Ownership
Promoter holding67.35% (+1.40 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 8.6 is the lowest in its own 2.4-year history
(median 26.1, low 8.6, high 79.3).
P/B 0.71 is the lowest in 3.4 years (median 3.63).
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 | USK | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -6.2% | -2.8% | -3.4 pts |
| 1 month | -11.9% | -6.8% | -5.1 pts |
| 3 months | -19.4% | -7.6% | -11.8 pts |
| 6 months | -7.9% | +0.4% | -8.3 pts |
| 1 year | -42.0% | -9.9% | -32.1 pts |
| 2 years | -69.3% | -13.6% | -55.7 pts |
| 3 years | -47.5% | +14.2% | -61.7 pts |
Red flags
F-score 4 of 7No 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
Jun 2026Sales ₹46 Cr -20.5% vs Jun 2025.
Net profit ₹2 Cr +131.8%.
Activity
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No bulk or block deals on record.
No corporate actions on record.
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