Mercantile Ventures Ltd.

•

mercantileventures.co.inBSE: 538942NSE: MERCANTILE

Market Cap₹ 270 Cr.

Current Price

High / Low₹ 32 / 20

Stock P/E109.7

Book Value₹ 26

Price to Book0.64

Dividend Yield0.00 %

ROCE0.8 %

ROE2.0 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Manpower services: 74.6% • Rent and Maintenance of Immovable properties: 19.4% • Investment activities: 6.0%

AI Sector View

AI GENERATED

Services

Buy

Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.

Confidence

72%

View full sector analysis →

PROS

Company is almost debt free
Latest quarter profit grew 268.3% YoY, showing strong momentum
Company has delivered good sales growth of 17.9% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.46x)
Working capital cycle has improved - days down from 614 to 360

CONS

Operating cash flow has been negative in recent years
A large part of profit comes from other income (91.5% of PBT)
Recent results are weak - TTM profit is down 62.9% versus prior year
Company has a low return on capital employed of 1.4%
Company has a low return on equity of 1.3% over last 3 years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ServicesBusiness ServicesBusiness Support

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	PFOCUS	316.65	213.36	24659.87	0.00	-457.78	-514.43	12668.15	1196.88	2.74	23.76
2.	SAGILITY	45.05	21.24	21089.38	0.33	216.81	45.94	1963.48	27.59	13.82	22.32
3.	HORIZONIND	55.65	244.03	16043.35	0.00	—	—	—	—	3.32	—
4.	SYNGENE	386.45	70.59	15599.79	0.32	-9.00	-110.38	736.00	-15.84	9.48	12.34
5.	INDGN	586.50	35.25	14132.70	0.38	116.20	-0.17	1063.10	39.73	18.92	16.39
6.	IGIL	311.35	22.07	13455.29	1.61	165.74	30.98	370.78	23.22	77.00	60.35
7.	NESCO	1098.55	18.58	7740.38	0.64	99.96	3.97	211.80	9.55	19.23	48.33
8.	SPARC	200.70	4.11	6513.15	0.00	-20.78	59.94	39.92	314.11	163.94	-85.17
9.	LEAPIND	145.40	102.75	6405.40	0.00	247.33	—	2034.13	—	9.32	51.19
10.	SMARTWORKS	547.00	224.47	6256.64	0.00	13.15	413.27	546.25	44.05	61.12	63.33
11.	JUSTDIAL	675.30	15.82	5743.36	0.00	115.74	38.44	270.27	16.23	12.88	26.17
12.	MERCANTILE	24.11	37.96	270.20	0.00	12.05	271.16	230.32	9.28	4.03	-0.27

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	65	75	79	79	85	90	93	98	102	112	108	107	102
	61	68	74	106	87	89	91	97	104	110	108	116	102
Operating Profit	4	7	5	-27	-2	2	2	1	-2	2	-0	-9	0
OPM %	6.54%	9.59%	6.76%	-34.65%	-2.47%	1.70%	2.15%	0.71%	-1.54%	2.16%	-0.12%	-8.39%	0.15%
	11	7	12	5	6	-3	3	17	0	0	5	20	17
Interest	1	1	0	0	1	1	1	0	1	0	0	0	1
Depreciation	2	2	2	2	2	2	2	2	2	2	2	2	2
Profit before Tax	15	14	17	-22	4	-1	5	18	-2	2	5	11	17
Tax %	180.64%	20.94%	14.59%	-24.87%	26.39%	22.50%	25.70%	-260.69%	-174.84%	182.61%	-1.26%	-30.96%	57.04%
Net Profit	-12	11	15	-28	3	-1	3	64	-4	-2	5	14	7
	-0.10	0.10	0.13	-0.25	0.03	-0.01	0.03	0.57	-0.04	-0.02	0.04	0.13	0.07

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	4	5	5	5	16	15	15	21	30	37	429
	4	3	5	4	13	12	12	18	30	35	436
Operating Profit	0	2	0	1	3	3	3	2	0	1	-7
OPM %	8.18%	35.07%	2.51%	25.78%	21.40%	20.33%	17.13%	11.78%	0.50%	3.44%	-1.53%
	8	-26	7	4	5	7	7	6	4	2	42
Interest	2	2	1	1	0	0	0	0	0	0	1
Depreciation	0	1	1	1	1	1	1	1	1	1	8
Profit before Tax	6	-28	6	4	7	9	9	7	2	3	34
Tax %	28.43%	-4.01%	86.24%	30.30%	-24.31%	25.93%	26.57%	27.43%	60.36%	-173.56%	30.06%
Net Profit	4	-29	1	3	9	7	6	5	1	7	24
EPS	0.36	-2.08	0.07	0.25	0.76	0.63	0.58	0.46	0.09	0.62	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 26%
5 Years:: 18%
3 Years:: 36%

COMPOUNDED PROFIT GROWTH

10 Years:: -11%
5 Years:: -4%
3 Years:: 2%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 0%
5 Years:: 2%
3 Years:: 1%
Last Year:: 2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	112	112	112	112	112	112	112	112	112	112
	154	132	134	149	147	175	199	179	216	216
	12	6	6	3	3	2	3	7	3	3
	17	-0	-3	-4	-6	-4	-1	13	29	25
Total Liabilities	294	250	250	259	256	286	313	312	361	357
	44	85	84	81	63	63	62	61	69	73
Capital Work in Progress	0	0	44	44	44	44	0	0	0	0
	45	62	63	79	73	93	149	180	232	234
	0	0	0	0	0	0	0	0	7	8
Cash & Bank	0	1	1	3	9	19	2	1	3	2
	206	101	58	53	66	67	100	70	50	40
Total Assets	294	250	250	259	256	286	313	312	361	357

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-14	-27	5	13	6	27	20	-10	39	-8
Cash from Investing	18	34	-4	-5	1	-14	-35	7	-33	7
Cash from Financing	-3	-6	-0	-4	0	0	0	4	-4	0
	-5	1	-0	2	6	10	-17	-1	2	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.75	72.75	72.75	72.75	72.75	72.75	72.75	72.75	72.75
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	27.25	27.25	27.25	27.25	27.25	27.25	27.25	27.25	27.25

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for MERCANTILE

Loading news…

🤖

AI Stock Analyst

Mercantile Ventures Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

PFOCUS

316.65

213.36

24659.87

0.00

-457.78

-514.43

12668.15

1196.88

2.74

23.76

SAGILITY

45.05

21.24

21089.38

0.33

216.81

45.94

1963.48

27.59

13.82

22.32

HORIZONIND

55.65

244.03

16043.35

0.00

—

3.32

—

SYNGENE

386.45

70.59

15599.79

0.32

-9.00

-110.38

736.00

-15.84

9.48

12.34

INDGN

586.50

35.25

14132.70

0.38

116.20

-0.17

1063.10

39.73

18.92

16.39

IGIL

311.35

22.07

13455.29

1.61

165.74

30.98

370.78

23.22

77.00

60.35

NESCO

1098.55

18.58

7740.38

0.64

99.96

3.97

211.80

9.55

19.23

48.33

SPARC

200.70

4.11

6513.15

0.00

-20.78

59.94

39.92

314.11

163.94

-85.17

LEAPIND

145.40

102.75

6405.40

0.00

247.33

—

2034.13

—

9.32

51.19

SMARTWORKS

547.00

224.47

6256.64

0.00

13.15

413.27

546.25

44.05

61.12

63.33

JUSTDIAL

675.30

15.82

5743.36

0.00

115.74

38.44

270.27

16.23

12.88

26.17

MERCANTILE

24.11

37.96

270.20

0.00

12.05

271.16

230.32

9.28

4.03

-0.27

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

102

112

108

107

102

106

104

110

108

116

102

Operating Profit

-27

-2

-0

-9

OPM %

6.54%

9.59%

6.76%

-34.65%

-2.47%

1.70%

2.15%

0.71%

-1.54%

2.16%

-0.12%

-8.39%

0.15%

-3

Interest

Depreciation

Profit before Tax

-22

-1

-2

Tax %

180.64%

20.94%

14.59%

-24.87%

26.39%

22.50%

25.70%

-260.69%

-174.84%

182.61%

-1.26%

-30.96%

57.04%

Net Profit

-12

-28

-1

-4

-2

-0.10

0.10

0.13

-0.25

0.03

-0.01

0.03

0.57

-0.04

-0.02

0.04

0.13

0.07

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

429

436

Operating Profit

-7

OPM %

8.18%

35.07%

2.51%

25.78%

21.40%

20.33%

17.13%

11.78%

0.50%

3.44%

-1.53%

-26

Interest

Depreciation

Profit before Tax

-28

Tax %

28.43%

-4.01%

86.24%

30.30%

-24.31%

25.93%

26.57%

27.43%

60.36%

-173.56%

30.06%

Net Profit

-29

EPS

0.36

-2.08

0.07

0.25

0.76

0.63

0.58

0.46

0.09

0.62

—

Dividend Payout %

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

112

154

132

134

149

147

175

199

179

216

-0

-3

-4

-6

-4

-1

Total Liabilities

294

250

259

256

286

313

312

361

357

Capital Work in Progress

149

180

232

234

Cash & Bank

206

101

100

Total Assets

294

250

259

256

286

313

312

361

357

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-14

-27

-10

-8

Cash from Investing

-4

-5

-14

-35

-33

Cash from Financing

-3

-6

-0

-4

-5

-0

-17

-1

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

72.75

FIIs

0.00

DIIs

0.00

Government

0.00

27.25

Mercantile Ventures Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Mercantile Ventures Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI