Esprit Stones Ltd.

•

₹ 670%

2026-08-21

espritstones.comBSE: -NSE: ESPRIT

Market Cap₹ 149 Cr.

Current Price₹ 67

High / Low₹ 100 / 52

Stock P/E—

Book Value₹ 60

Price to Book1.75

Dividend Yield0.00 %

ROCE14.0 %

ROE16.7 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Engineered Stones: 73.6% • Unsaturated Polyester Resin: 26.4%

PROS

Company has consistently been profitable over the last 5 years

CONS

Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.24x)
Company has a low return on capital employed of 11.5%
Working capital days have increased from 9 to 49 days
Equity base is being diluted - shares outstanding up 131.0%
Operating margins have contracted to 11.5% from 17.8%

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

Peer comparison

EDIT COLUMNS

Consumer DurablesConstruction MaterialsCeramics/Marble/Granite/Sanitaryware

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

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	KAJARIACER	1212.40	34.90	19052.02	1.15	171.03	55.04	1328.08	20.43	17.67	19.69
2.	CERA	5691.75	29.84	7340.96	1.32	47.05	-0.86	422.19	5.36	19.41	13.05
3.	MIDWESTLTD	1153.65	37.57	4171.69	0.00	310.39	1173.13	1918.39	1248.46	27.81	25.47
4.	POKARNA	902.10	29.47	2796.87	0.07	42.60	50.56	189.42	10.79	11.85	35.89
5.	NITCO	89.90	0.00	2270.66	0.00	-10.33	-121.77	116.02	-22.48	-135.35	-7.07
6.	SOMANYCERA	509.60	19.65	2090.01	1.18	34.23	365.71	749.56	24.62	14.43	11.50
7.	ASIANTILES	46.01	108.24	1364.08	0.00	8.07	11.48	530.95	36.76	2.97	6.19
8.	ORIENTBELL	346.15	24.12	509.38	0.29	8.32	2318.40	203.82	43.44	5.56	8.02
9.	EXXARO	6.20	67.74	277.39	0.00	2.07	156.24	85.22	31.25	3.69	8.18
10.	MURUDCERA	30.52	19.09	184.78	0.00	0.81	-58.06	50.09	8.54	5.23	19.10
11.	GSLSU	36.77	0.00	155.84	0.00	0.06	111.19	65.42	-12.19	-2.15	12.74
12.	ESPRIT	68.00	0.00	149.23	0.00	—	—	—	—	14.01	—

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	144	186	174	273	321
	116	157	157	242	284
Operating Profit	30	33	19	33	40
OPM %	21	18	11	12	12
Other Income	2	4	2	2	2
Interest	3	3	6	10	8
Depreciation	5	6	7	9	10
	22	24	5	14	22
Tax %	29	22	33	27	22
Net Profit	15	19	4	10	17
EPS	10	11	2	6	7
Dividend Payout %	0	0	0	0	0
Minority Interest	0	0	-0	-0	-2
Share of Associates	0	0	0	0	0
Adjusted EPS	10	11	2	6	7
Minority Interest	0	0	-0	-0	-2
Share of Associates	0	0	0	0	0
Adjusted EPS	10	11	2	6	7

Mar 2021

: 144
: 116
Operating Profit: 30
OPM %: 21
Other Income: 2
Interest: 3
Depreciation: 5
: 22
Tax %: 29
Net Profit: 15
EPS: 10
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10

Mar 2022

: 186
: 157
Operating Profit: 33
OPM %: 18
Other Income: 4
Interest: 3
Depreciation: 6
: 24
Tax %: 22
Net Profit: 19
EPS: 11
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11

Mar 2023

: 174
: 157
Operating Profit: 19
OPM %: 11
Other Income: 2
Interest: 6
Depreciation: 7
: 5
Tax %: 33
Net Profit: 4
EPS: 2
Dividend Payout %: 0
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 2

Mar 2024

: 273
: 242
Operating Profit: 33
OPM %: 12
Other Income: 2
Interest: 10
Depreciation: 9
: 14
Tax %: 27
Net Profit: 10
EPS: 6
Dividend Payout %: 0
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 6

Mar 2025

: 321
: 284
Operating Profit: 40
OPM %: 12
Other Income: 2
Interest: 8
Depreciation: 10
: 22
Tax %: 22
Net Profit: 17
EPS: 7
Dividend Payout %: 0
Minority Interest: -2
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: -2
Share of Associates: 0
Adjusted EPS: 7

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 20%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: -5%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -32%

RETURN ON EQUITY

10 Years:: —
5 Years:: 23%
3 Years:: 13%
Last Year:: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-
Equity Capital	10	10	10	16	22
	31	49	53	56	111
	24	31	62	61	67
Trade Payables	34	43	38	51	59
	43	48	75	90	51
Total Liabilities	141	181	238	275	310
ASSETS	-	-	-	-	-
	61	66	117	110	120
Capital Work in Progress	7	22	0	8	1
	19	35	53	61	68
	0	0	0	72	94
Cash & Bank	11	12	3	3	8
	42	45	65	19	19
Total Assets	141	181	238	275	310
Total Debt	49	59	119	125	98
Net Working Capital	-3	-7	3	7	43
Contingent Liabilities	3	6	2	7	10
Book Value per Share	425.55	62.03	65.56	44.82	60.76
Face Value	100.00	10.00	10.00	10.00	10.00
Total Debt	49	59	119	125	98
Net Working Capital	-3	-7	3	7	43
Contingent Liabilities	3	6	2	7	10
Book Value per Share	425.55	62.03	65.56	44.82	60.76
Face Value	100.00	10.00	10.00	10.00	10.00

Mar 2021

Equity Capital: 10
: 31
: 24
Trade Payables: 34
: 43
Total Liabilities: 141
: 61
Capital Work in Progress: 7
: 19
: 0
Cash & Bank: 11
: 42
Total Assets: 141
Total Debt: 49
Net Working Capital: -3
Contingent Liabilities: 3
Book Value per Share: 425.55
Face Value: 100.00
Total Debt: 49
Net Working Capital: -3
Contingent Liabilities: 3
Book Value per Share: 425.55
Face Value: 100.00

Mar 2022

Equity Capital: 10
: 49
: 31
Trade Payables: 43
: 48
Total Liabilities: 181
: 66
Capital Work in Progress: 22
: 35
: 0
Cash & Bank: 12
: 45
Total Assets: 181
Total Debt: 59
Net Working Capital: -7
Contingent Liabilities: 6
Book Value per Share: 62.03
Face Value: 10.00
Total Debt: 59
Net Working Capital: -7
Contingent Liabilities: 6
Book Value per Share: 62.03
Face Value: 10.00

Mar 2023

Equity Capital: 10
: 53
: 62
Trade Payables: 38
: 75
Total Liabilities: 238
: 117
Capital Work in Progress: 0
: 53
: 0
Cash & Bank: 3
: 65
Total Assets: 238
Total Debt: 119
Net Working Capital: 3
Contingent Liabilities: 2
Book Value per Share: 65.56
Face Value: 10.00
Total Debt: 119
Net Working Capital: 3
Contingent Liabilities: 2
Book Value per Share: 65.56
Face Value: 10.00

Mar 2024

Equity Capital: 16
: 56
: 61
Trade Payables: 51
: 90
Total Liabilities: 275
: 110
Capital Work in Progress: 8
: 61
: 72
Cash & Bank: 3
: 19
Total Assets: 275
Total Debt: 125
Net Working Capital: 7
Contingent Liabilities: 7
Book Value per Share: 44.82
Face Value: 10.00
Total Debt: 125
Net Working Capital: 7
Contingent Liabilities: 7
Book Value per Share: 44.82
Face Value: 10.00

Mar 2025

Equity Capital: 22
: 111
: 67
Trade Payables: 59
: 51
Total Liabilities: 310
: 120
Capital Work in Progress: 1
: 68
: 94
Cash & Bank: 8
: 19
Total Assets: 310
Total Debt: 98
Net Working Capital: 43
Contingent Liabilities: 10
Book Value per Share: 60.76
Face Value: 10.00
Total Debt: 98
Net Working Capital: 43
Contingent Liabilities: 10
Book Value per Share: 60.76
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	5	20	-29	14	7
Cash from Investing	-19	-25	-26	-11	-13
Cash from Financing	14	6	54	-3	10
	1	1	-1	-0	3
Free Cash Flow	5	-5	-64	4	-6
OCF / Net Profit	0.31	1.10	-8.02	1.38	0.39
Cumulative 5-Year FCF	0	0	0	0	0
OCF / Net Profit	0.31	1.10	-8.02	1.38	0.39
Cumulative 5-Year FCF	0	0	0	0	0

Mar 2021

: 5
Cash from Investing: -19
Cash from Financing: 14
: 1
Free Cash Flow: 5
OCF / Net Profit: 0.31
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.31
Cumulative 5-Year FCF: 0

Mar 2022

: 20
Cash from Investing: -25
Cash from Financing: 6
: 1
Free Cash Flow: -5
OCF / Net Profit: 1.10
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.10
Cumulative 5-Year FCF: 0

Mar 2023

: -29
Cash from Investing: -26
Cash from Financing: 54
: -1
Free Cash Flow: -64
OCF / Net Profit: -8.02
Cumulative 5-Year FCF: 0
OCF / Net Profit: -8.02
Cumulative 5-Year FCF: 0

Mar 2024

: 14
Cash from Investing: -11
Cash from Financing: -3
: -0
Free Cash Flow: 4
OCF / Net Profit: 1.38
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.38
Cumulative 5-Year FCF: 0

Mar 2025

: 7
Cash from Investing: -13
Cash from Financing: 10
: 3
Free Cash Flow: -6
OCF / Net Profit: 0.39
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.39
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-	-
EPS (₹)	162.84	19.48	3.61	6.29	7.14
Book Value (₹)	425.55	62.03	65.56	44.82	60.76
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	12.80	15.33	6.74	12.04	12.19
PROFITABILITY	-	-	-	-	-
Operating Margin %	20.85%	17.79%	10.89%	11.47%	11.55%
Net Margin %	10.73%	9.93%	2.04%	3.78%	5.35%
ROE %	38.27%	37.25%	5.87%	15.32%	16.72%
ROCE %	27.73%	26.01%	7.81%	12.70%	14.01%
	10.96%	11.50%	1.70%	4.03%	5.89%
EFFICIENCY	-	-	-	-	-
Debtor Days	40	40	69	76	94
Inventory Days	48	53	92	77	74
Payable Days	191	141	151	98	104
	-103	-48	10	55	64
FINANCIAL HEALTH	-	-	-	-	-
Debt to Equity (x)	1.22x	0.99x	1.91x	1.73x	0.74x
Interest Coverage (x)	8.46x	8.27x	1.84x	2.41x	3.76x
	0.96x	0.92x	1.03x	1.05x	1.31x
GROWTH	-	-	-	-	-
Revenue Growth %	0.00%	29.36%	-6.46%	56.46%	17.81%
Operating Profit Growth %	0.00%	10.42%	-42.78%	74.87%	19.33%
Net Profit Growth %	0.00%	19.62%	-80.78%	190.04%	66.72%
	0.00%	0.00%	0.00%	74.04%	13.48%
VALUATION	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	14.91x
P/B (x)	0.00x	0.00x	0.00x	0.00x	1.75x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	4.17x	8.18x

Mar 2021

EPS (₹): 162.84
Book Value (₹): 425.55
Dividend per Share (₹): 0.00
Cash EPS (₹): 12.80
Operating Margin %: 20.85%
Net Margin %: 10.73%
ROE %: 38.27%
ROCE %: 27.73%
: 10.96%
Debtor Days: 40
Inventory Days: 48
Payable Days: 191
: -103
Debt to Equity (x): 1.22x
Interest Coverage (x): 8.46x
: 0.96x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 19.48
Book Value (₹): 62.03
Dividend per Share (₹): 0.00
Cash EPS (₹): 15.33
Operating Margin %: 17.79%
Net Margin %: 9.93%
ROE %: 37.25%
ROCE %: 26.01%
: 11.50%
Debtor Days: 40
Inventory Days: 53
Payable Days: 141
: -48
Debt to Equity (x): 0.99x
Interest Coverage (x): 8.27x
: 0.92x
Revenue Growth %: 29.36%
Operating Profit Growth %: 10.42%
Net Profit Growth %: 19.62%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 3.61
Book Value (₹): 65.56
Dividend per Share (₹): 0.00
Cash EPS (₹): 6.74
Operating Margin %: 10.89%
Net Margin %: 2.04%
ROE %: 5.87%
ROCE %: 7.81%
: 1.70%
Debtor Days: 69
Inventory Days: 92
Payable Days: 151
: 10
Debt to Equity (x): 1.91x
Interest Coverage (x): 1.84x
: 1.03x
Revenue Growth %: -6.46%
Operating Profit Growth %: -42.78%
Net Profit Growth %: -80.78%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 6.29
Book Value (₹): 44.82
Dividend per Share (₹): 0.00
Cash EPS (₹): 12.04
Operating Margin %: 11.47%
Net Margin %: 3.78%
ROE %: 15.32%
ROCE %: 12.70%
: 4.03%
Debtor Days: 76
Inventory Days: 77
Payable Days: 98
: 55
Debt to Equity (x): 1.73x
Interest Coverage (x): 2.41x
: 1.05x
Revenue Growth %: 56.46%
Operating Profit Growth %: 74.87%
Net Profit Growth %: 190.04%
: 74.04%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 4.17x

Mar 2025

EPS (₹): 7.14
Book Value (₹): 60.76
Dividend per Share (₹): 0.00
Cash EPS (₹): 12.19
Operating Margin %: 11.55%
Net Margin %: 5.35%
ROE %: 16.72%
ROCE %: 14.01%
: 5.89%
Debtor Days: 94
Inventory Days: 74
Payable Days: 104
: 64
Debt to Equity (x): 0.74x
Interest Coverage (x): 3.76x
: 1.31x
Revenue Growth %: 17.81%
Operating Profit Growth %: 19.33%
Net Profit Growth %: 66.72%
: 13.48%
P/E (x): 14.91x
P/B (x): 1.75x
Dividend Yield %: 0.00%
: 8.18x

Shareholding Pattern

Numbers in percentages

TRADES

	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	73.59	73.59	73.64	73.63
	3.10	1.60	0.40	0.40
	3.79	3.38	2.27	1.57
Government	0.00	0.00	0.00	0.00
	19.52	21.44	23.70	24.40

Sep 2024

: 73.59
: 3.10
: 3.79
Government: 0.00
: 19.52

Mar 2025

: 73.59
: 1.60
: 3.38
Government: 0.00
: 21.44

Sep 2025

: 73.64
: 0.40
: 2.27
Government: 0.00
: 23.70

Mar 2026

: 73.63
: 0.40
: 1.57
Government: 0.00
: 24.40

Documents

Announcements

Nothing filed yet.

Annual Reports

Annual Report FY2025
2025
Annual Report FY2024
2024

Credit Ratings

Nothing filed yet.

Concalls

Nothing filed yet.