Price
Financials
Standalone, Rs crore| Dec 2023 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 14.11 | 6.22 | 32.71 | 36.12 | 104.14 | 20.78 | 48.55 | 113.62 | 318.72 | 71.86 |
| Expenses | 11.43 | 4.94 | 27.06 | 29.96 | 91.80 | 17.30 | 40.37 | 96.78 | 275.74 | 60.31 |
| Operating Profit | 2.68 | 1.28 | 5.65 | 6.16 | 12.34 | 3.48 | 8.18 | 16.84 | 42.98 | 11.55 |
| OPM % | 18.99% | 20.58% | 17.27% | 17.05% | 11.85% | 16.75% | 16.85% | 14.82% | 13.49% | 16.07% |
| Other Income | 0.00 | 0.00 | 0.05 | 0.03 | 0.56 | 0.64 | 0.57 | 1.47 | 1.50 | 1.46 |
| Interest | 0.62 | 0.59 | 0.88 | 1.20 | 0.81 | 1.34 | 2.24 | 3.00 | 3.40 | 3.67 |
| Depreciation | 0.06 | 0.08 | 0.15 | 0.07 | 0.08 | 0.08 | 0.08 | 0.11 | 0.09 | 0.13 |
| Profit before tax | 2.00 | 0.61 | 4.67 | 4.92 | 12.01 | 2.70 | 6.43 | 15.20 | 40.99 | 9.21 |
| Tax % | 27.00% | 27.87% | 25.70% | 25.20% | 26.14% | 22.96% | 24.88% | 27.17% | 21.44% | 24.76% |
| Net Profit | 1.46 | 0.45 | 3.47 | 3.68 | 8.87 | 2.09 | 4.83 | 11.07 | 32.20 | 6.93 |
| EPS in Rs | 1.52 | 0.47 | 3.47 | 3.68 | 8.87 | 2.09 | 4.78 | 10.93 | 31.80 | 6.84 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 20 | 23 | 33 | 36 | 66 | 188 | 502 | 553 |
| Expenses | 18 | 20 | 28 | 31 | 54 | 162 | 430 | 473 |
| Operating Profit | 2 | 2 | 5 | 5 | 12 | 26 | 71 | 80 |
| OPM % | 11% | 9% | 15% | 14% | 18% | 14% | 14% | 14% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 1 | 4 | 5 |
| Interest | 1 | 1 | 1 | 1 | 3 | 4 | 10 | 12 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 2 | 1 | 4 | 4 | 9 | 23 | 65 | 72 |
| Tax % | 21% | 25% | 26% | 25% | 26% | 26% | 23% | |
| Net Profit | 1 | 1 | 3 | 3 | 7 | 17 | 50 | 55 |
| EPS in Rs | 30.25 | 24.75 | 70.00 | 3.14 | 6.82 | 17.01 | 49.56 | 54.35 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 2% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 86% | 140% | 185% | ||
| Compounded Profit Growth | % | 119% | 155% | 204% | ||
| Stock Price CAGR | % | % | 98% | -31% | ||
| Return on Equity | % | 47% | 48% | 57% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.23 | 0.23 | 0.23 | 6 | 6 | 6 | 10 |
| Reserves | 3 | 4 | 7 | 12 | 19 | 55 | 104 |
| Borrowings | 3 | 7 | 6 | 10 | 17 | 30 | 92 |
| Other Liabilities | 4 | 8 | 8 | 6 | 11 | 95 | 349 |
| Total Liabilities | 9 | 19 | 21 | 34 | 52 | 186 | 555 |
| Fixed Assets | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| Other Assets | 8 | 18 | 21 | 33 | 51 | 185 | 550 |
| Total Assets | 9 | 19 | 21 | 34 | 52 | 186 | 555 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 4 | -3 | 1 | -11 | -3 | -3 | 1 |
| Cash from Investing Activity | -0 | -0 | 0 | -0 | -2 | -27 | -54 |
| Cash from Financing Activity | -4 | 4 | -2 | 11 | 5 | 31 | 53 |
| Net Cash Flow | 0 | 1 | -1 | -1 | -0 | 1 | -1 |
| Free Cash Flow | 4 | -3 | 0 | -12 | -4 | -3 | -1 |
| CFO/OP | 190% | -133% | 37% | -200% | -16% | -2% | 9% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 51 | 145 | 110 | 205 | 153 | 232 | 245 |
| Inventory Days | 63 | 64 | 106 | 44 | 14 | 8 | |
| Days Payable | 7 | 184 | 114 | 33 | 228 | 219 | |
| Cash Conversion Cycle | 107 | 25 | 110 | 197 | 163 | 18 | 34 |
| Working Capital Days | -7 | -9 | -18 | 122 | 60 | 10 | 5 |
| ROCE % | 24% | 39% | 25% | 34% | 40% | 51% |
| Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Promoters | 73.20% | 73.20% | 73.20% | 73.38% | 73.40% | 70.28% | 70.28% | 70.63% | 70.79% |
| FIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.01% | 0.01% | 0.12% | 0.00% | 0.01% |
| DIIs | 0.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.23% | 0.03% | 0.41% |
| Public | 26.77% | 26.80% | 26.80% | 26.62% | 26.59% | 29.71% | 29.38% | 29.34% | 28.79% |
| No. of Shareholders | 465 | 428 | 400 | 579 | 972 | 1,823 | 2,208 | 2,755 | 4,218 |
Fundamentals
Market Cap₹ 714 Cr.
Current Price₹ 705
Stock P/E13.0
Book Value₹ 113
ROCE50.7 %
ROE57.2 %
Dividend Yield0.14 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)185%
Compounded Profit Growth (TTM)204%
Standalone figures.
Valuation
Market capRs 462 Cr
Enterprise valueRs 472 Cr
P/E (TTM)8.40x
Price to book25.77x
Price to sales0.84x
EV / EBITDA5.59x
EV / EBIT5.61x
EV / sales0.85x
Earnings yield11.90%
P/E, 3-year average8.47x
P/B, 3-year average1.42x
Profitability
Operating margin (excl. other income)14.50%
Operating margin (incl. other income)14.77%
EBITDA margin15.30%
Pre-tax margin12.99%
Net profit margin9.96%
Net margin, latest quarter9.64%
ROE24.35%
ROCE24.85%
ROA10.85%
ROE, 3-year average35.56%
ROCE, 3-year average29.59%
ROA, 3-year average10.57%
ROIC (approx.)226.83%
Tax rate24.62%
Other income / net worth0.56%
Growth
Sales growth (latest year)10.86%
Profit growth (latest year)7.50%
Sales CAGR, 3 years21.69%
Profit CAGR, 3 years35.50%
Sales growth QoQ-77.45%
Profit growth QoQ-78.48%
Sales growth YoY (latest quarter)245.81%
Profit growth YoY (latest quarter)231.58%
Per share
EPS (TTM)Rs 92.18
EPS (latest year)Rs 5.04
EPS (latest quarter)Rs 11.61
EPS, 3-year averageRs 56.61
Book value per shareRs 30.05
Sales per shareRs 925.88
Cash flow per shareRs -19.20
Free cash flow per shareRs -1.68
Efficiency
Asset turnover1.06x
Fixed asset turnover53.16x
Inventory turnover8.88x
Inventory days41 days
Debtor days205 days
Debtors turnover1.78x
Creditor days219 days
Cash conversion cycle34 days
Working capital days5 days
Leverage
Total debtRs 10 Cr
Cash and bankRs 0 Cr
Net debtRs 10 Cr
Debt to equity0.56x
Net debt / EBITDA0.12x
Interest coverage6.84x
Owners' fund to total sources52.78%
Debt to assets29.66%
Cash flow
Cash from Operating Activity (latest year)Rs -11 Cr
Cash from Investing Activity (latest year)Rs -0 Cr
Cash from Financing Activity (latest year)Rs 11 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs -1 Cr
FCFE (approx.: FCF + change in debt)Rs 3 Cr
Cash from ops / profit, 5 years-0.19x
Statement figures
Net sales (TTM)Rs 553 Cr
Net sales (latest year)Rs 36 Cr
Sales (latest quarter)Rs 72 Cr
Operating profit excl. other income (latest year)Rs 5 Cr
Operating profit (latest quarter)Rs 12 Cr
Other income (TTM)Rs 5 Cr
EBITDA (TTM)Rs 85 Cr
PBDT (TTM)Rs 72 Cr
Profit before tax (TTM)Rs 72 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 55 Cr
Net profit (latest year)Rs 3 Cr
Net profit (latest quarter)Rs 7 Cr
Depreciation (TTM)Rs 0 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 12 Cr
Cost of goods sold (latest year)Rs 27 Cr
Total expenditure (latest year)Rs 31 Cr
Total income (latest year)Rs 36 Cr
Share capitalRs 6 Cr
ReservesRs 12 Cr
Shareholders' fundsRs 18 Cr
Total assetsRs 34 Cr
Net blockRs 1 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 0 Cr
ReceivablesRs 20 Cr
InventoryRs 3 Cr
Other liabilitiesRs 6 Cr
Shares outstanding (crore)0.60
Ownership
Promoter holding70.79% (-2.61 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 8.4 is at the 6th percentile of its own 2.8-year range
(median 45.5, low 7.6, high 322.2).
P/B 25.77 is at the 7th percentile (median 74.04).
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 | VIVIANA | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +9.7% | -2.8% | +12.4 pts |
| 1 month | +4.6% | -6.8% | +11.4 pts |
| 3 months | -5.1% | -7.6% | +2.6 pts |
| 6 months | +23.9% | +0.4% | +23.5 pts |
| 1 year | -50.4% | -9.9% | -40.5 pts |
| 2 years | -8.7% | -13.6% | +4.9 pts |
| 3 years | +434.1% | +14.2% | +420.0 pts |
Red flags
F-score 2 of 8| explain | Weak cash conversion Cash from operations was -201% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 43% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 106% vs sales +11% in 2026 |
| explain | Share dilution Share count up 2300% in a year, 2300% in three |
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.
Insider trades
NSE insider and takeover-code disclosures| Date | Who | Role | Side | Shares | Value | How |
|---|---|---|---|---|---|---|
| 2026-09-17 | PRIYANKA RICHI CHOKSI | Promoter group | buy | 2,490 | SAST Open Market |
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.
Latest quarter
Jun 2026Sales ₹72 Cr +245.8% vs Jun 2025.
Net profit ₹7 Cr +231.6%.
Activity
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| Ircon International Ltd | 9,637 | 18.4 | 9.27 % |
| Rites Ltd | 9,242 | 22.1 | 23.0 % |
| Afcons Infrastructure Ltd | 9,014 | 44.0 | 13.9 % |
| NCC Ltd | 8,053 | 11.2 | 16.8 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-09-22 | Dividend - Re 1 Per Sh |
| Date | Type | What it says |
|---|---|---|
| 2026-09-30 | Amendment to AOA/MOA | The Amendment to AOA/MOA of the company. |
| 2026-09-30 | Shareholder meeting | Voting results. |
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.
EPS in the scrip is zero (4 trailing quarters)