NTC Industries Ltd.
•₹ 1400.24%
2026-08-21
ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • FMCG - Cigarettes: 61.3% • Foods & Beverages: 37.0% • Others: 0.9% • Rental Income: 0.8%
PROS
- Company is almost debt free
- Company has delivered good sales growth of 35.1% CAGR over last 5 years
- Working capital cycle has improved - days down from 537 to 304
- Company comfortably covers its interest (51.7x coverage)
- Stock looks reasonably valued - P/E of 14.7 is below its historical median
- Attractively priced for its growth - PEG of 0.1
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (64.6% of PBT)
- Promoter holding has decreased over last 2 years: -11.6pp
- Company has a low return on capital employed of 8.8%
- Company has a low return on equity of 7.1% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.14x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| 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. | ITC | 271.25 | 17.13 | 339870.34 | 5.35 | 4508.79 | -15.62 | 29523.30 | 28.32 | 38.83 | 17.84 |
| 2. | GODFRYPHLP | 2105.00 | 24.00 | 32834.16 | 2.38 | 1983.90 | 456.84 | 38195.60 | 2020.43 | 33.70 | 5.49 |
| 3. | VSTIND | 212.60 | 58.24 | 3611.25 | 5.64 | 42.42 | -24.43 | 861.71 | 109.08 | 28.18 | 5.76 |
| 4. | IWP | 34.55 | 37.33 | 221.03 | 0.58 | 2.51 | 118.28 | 65.19 | 26.76 | 3.36 | 8.02 |
| 5. | NTCIND | 139.05 | 10.09 | 201.89 | 0.00 | 6.12 | 7.99 | 26.63 | 3.21 | 11.14 | 24.79 |
Detailed Comparison with:
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7 | 10 | 7 | 4 | 10 | 5 | 12 | 11 | 20 | 26 | 24 | 28 | 23 | |
| 8 | 9 | 8 | 10 | 12 | 6 | 13 | 11 | 18 | 23 | 23 | 25 | 20 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | -1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 4 | 3 | 2 | 3 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| -1 | 3 | 2 | -1 | 1 | 1 | 2 | 2 | 6 | 6 | 4 | 5 | 6 | |
| Tax % | -25.00% | 24.71% | -18.06% | 83.87% | 12.62% | 36.62% | 14.62% | 25.99% | 25.80% | 27.27% | 28.07% | 24.45% | 27.05% |
| Net Profit | -1 | 2 | 2 | -0 | 1 | 0 | 1 | 1 | 5 | 5 | 3 | 4 | 4 |
| -1 | 2 | 2 | -0 | 1 | 0 | 1 | 1 | 3 | 3 | 2 | 3 | 0 | |
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 14 | 15 | 15 | 15 | 15 | 15 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 14 | 15 | 15 | 15 | 15 | 15 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Mar 2023
- 7
- 8
- Operating Profit
- —
- OPM %
- —
- Other Income
- -1
- Interest
- 0
- Depreciation
- 0
- -1
- Tax %
- -25.00%
- Net Profit
- -1
- -1
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2023
- 10
- 9
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 0
- Depreciation
- 0
- 3
- Tax %
- 24.71%
- Net Profit
- 2
- 2
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 7
- 8
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 0
- Depreciation
- 0
- 2
- Tax %
- -18.06%
- Net Profit
- 2
- 2
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 4
- 10
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 0
- Depreciation
- 0
- -1
- Tax %
- 83.87%
- Net Profit
- -0
- -0
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 10
- 12
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 0
- Depreciation
- 0
- 1
- Tax %
- 12.62%
- Net Profit
- 1
- 1
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 5
- 6
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 0
- Depreciation
- 0
- 1
- Tax %
- 36.62%
- Net Profit
- 0
- 0
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 12
- 13
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 0
- Depreciation
- 0
- 2
- Tax %
- 14.62%
- Net Profit
- 1
- 1
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 11
- 11
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 0
- Depreciation
- 0
- 2
- Tax %
- 25.99%
- Net Profit
- 1
- 1
- Equity Capital
- 14
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 14
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 20
- 18
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 0
- Depreciation
- 0
- 6
- Tax %
- 25.80%
- Net Profit
- 5
- 3
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 26
- 23
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 0
- Depreciation
- 0
- 6
- Tax %
- 27.27%
- Net Profit
- 5
- 3
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 24
- 23
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 0
- Depreciation
- 0
- 4
- Tax %
- 28.07%
- Net Profit
- 3
- 2
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 28
- 25
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 0
- Depreciation
- 0
- 5
- Tax %
- 24.45%
- Net Profit
- 4
- 3
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 23
- 20
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 0
- Depreciation
- 0
- 6
- Tax %
- 27.05%
- Net Profit
- 4
- 0
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 13 | 14 | 11 | 14 | 22 | 23 | 40 | 33 | 46 | 98 | 101 | |
| 16 | 16 | 15 | 17 | 17 | 22 | 41 | 36 | 45 | 90 | 92 | |
| Operating Profit | 1 | 3 | 5 | 3 | 9 | 6 | 4 | 4 | 11 | 21 | — |
| OPM % | 11 | 20 | 47 | 18 | 43 | 28 | 9 | 11 | 25 | 21 | — |
| Other Income | 4 | 5 | 9 | 5 | 4 | 5 | 4 | 7 | 10 | 13 | 13 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| 1 | 0 | 4 | 4 | 9 | 5 | 2 | 5 | 10 | 20 | 22 | |
| Tax % | 63 | -11 | 21 | 21 | 26 | 19 | 33 | 0 | 25 | 26 | 27 |
| Net Profit | 0 | 0 | 4 | 3 | 6 | 4 | 2 | 5 | 8 | 14 | 16 |
| EPS | 0 | 0 | 0 | 3 | 6 | 4 | 1 | 4 | 5 | 10 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 0 | 0 | 3 | 3 | 5 | 4 | 1 | 4 | 5 | 10 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 0 | 0 | 3 | 3 | 5 | 4 | 1 | 4 | 5 | 10 | — |
Mar 2017
- 13
- 16
- Operating Profit
- 1
- OPM %
- 11
- Other Income
- 4
- Interest
- 0
- Depreciation
- 1
- 1
- Tax %
- 63
- Net Profit
- 0
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2018
- 14
- 16
- Operating Profit
- 3
- OPM %
- 20
- Other Income
- 5
- Interest
- 0
- Depreciation
- 0
- 0
- Tax %
- -11
- Net Profit
- 0
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2019
- 11
- 15
- Operating Profit
- 5
- OPM %
- 47
- Other Income
- 9
- Interest
- 0
- Depreciation
- 0
- 4
- Tax %
- 21
- Net Profit
- 4
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2020
- 14
- 17
- Operating Profit
- 3
- OPM %
- 18
- Other Income
- 5
- Interest
- 0
- Depreciation
- 1
- 4
- Tax %
- 21
- Net Profit
- 3
- EPS
- 3
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2021
- 22
- 17
- Operating Profit
- 9
- OPM %
- 43
- Other Income
- 4
- Interest
- 0
- Depreciation
- 1
- 9
- Tax %
- 26
- Net Profit
- 6
- EPS
- 6
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
Mar 2022
- 23
- 22
- Operating Profit
- 6
- OPM %
- 28
- Other Income
- 5
- Interest
- 0
- Depreciation
- 1
- 5
- Tax %
- 19
- Net Profit
- 4
- EPS
- 4
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
Mar 2023
- 40
- 41
- Operating Profit
- 4
- OPM %
- 9
- Other Income
- 4
- Interest
- 0
- Depreciation
- 1
- 2
- Tax %
- 33
- Net Profit
- 2
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2024
- 33
- 36
- Operating Profit
- 4
- OPM %
- 11
- Other Income
- 7
- Interest
- 0
- Depreciation
- 1
- 5
- Tax %
- 0
- Net Profit
- 5
- EPS
- 4
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
Mar 2025
- 46
- 45
- Operating Profit
- 11
- OPM %
- 25
- Other Income
- 10
- Interest
- 0
- Depreciation
- 1
- 10
- Tax %
- 25
- Net Profit
- 8
- EPS
- 5
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
Mar 2026
- 98
- 90
- Operating Profit
- 21
- OPM %
- 21
- Other Income
- 13
- Interest
- 0
- Depreciation
- 1
- 20
- Tax %
- 26
- Net Profit
- 14
- 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
TTM
- 101
- 92
- Operating Profit
- —
- OPM %
- —
- Other Income
- 13
- Interest
- 0
- Depreciation
- 1
- 22
- Tax %
- 27
- Net Profit
- 16
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 27%
- 5 Years:
- 35%
- 3 Years:
- 35%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 18%
- 3 Years:
- 106%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 6%
- 5 Years:
- 6%
- 3 Years:
- 7%
- Last Year:
- 8%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 11 | 11 | 11 | 11 | 12 | 12 | 12 | 12 | 15 | 15 |
| 24 | 25 | 28 | 29 | 40 | 47 | 49 | 62 | 164 | 158 | |
| 2 | 2 | 2 | 2 | 2 | 4 | 5 | 2 | 3 | 4 | |
| Trade Payables | 3 | 2 | 1 | 2 | 7 | 1 | 1 | 3 | 7 | 9 |
| 10 | 9 | 9 | 11 | 17 | 14 | 16 | 13 | 27 | 21 | |
| Total Liabilities | 50 | 49 | 51 | 56 | 78 | 78 | 83 | 92 | 216 | 206 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 7 | 6 | 5 | 5 | 5 | 7 | 8 | 9 | 8 | 8 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 |
| 5 | 5 | 4 | 2 | 2 | 4 | 5 | 16 | 108 | 87 | |
| 4 | 3 | 2 | 3 | 8 | 4 | 7 | 6 | 9 | 11 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 10 | 10 | |
| Cash & Bank | 0 | 1 | 1 | 1 | 6 | 1 | 3 | 0 | 0 | 0 |
| 35 | 34 | 39 | 44 | 54 | 61 | 60 | 53 | 80 | 91 | |
| Total Assets | 50 | 49 | 51 | 56 | 78 | 78 | 83 | 92 | 216 | 206 |
| Total Debt | 4 | 5 | 4 | 5 | 4 | 6 | 7 | 2 | 3 | 4 |
| Net Working Capital | 23 | 28 | 33 | 34 | 43 | 49 | 49 | 50 | 72 | 85 |
| Contingent Liabilities | 74 | 1 | 34 | 34 | 34 | 34 | 34 | 33 | 33 | 33 |
| Book Value per Share | 32.54 | 32.89 | 35.75 | 36.92 | 43.54 | 49.50 | 50.83 | 61.97 | 122.65 | 118.95 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 4 | 5 | 4 | 5 | 4 | 6 | 7 | 2 | 3 | 4 |
| Net Working Capital | 23 | 28 | 33 | 34 | 43 | 49 | 49 | 50 | 72 | 85 |
| Contingent Liabilities | 74 | 1 | 34 | 34 | 34 | 34 | 34 | 33 | 33 | 33 |
| Book Value per Share | 32.54 | 32.89 | 35.75 | 36.92 | 43.54 | 49.50 | 50.83 | 61.97 | 122.65 | 118.95 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2017
- Equity Capital
- 11
- 24
- 2
- Trade Payables
- 3
- 10
- Total Liabilities
- 50
- 7
- Capital Work in Progress
- 0
- 5
- 4
- 0
- Cash & Bank
- 0
- 35
- Total Assets
- 50
- Total Debt
- 4
- Net Working Capital
- 23
- Contingent Liabilities
- 74
- Book Value per Share
- 32.54
- Face Value
- 10.00
- Total Debt
- 4
- Net Working Capital
- 23
- Contingent Liabilities
- 74
- Book Value per Share
- 32.54
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 11
- 25
- 2
- Trade Payables
- 2
- 9
- Total Liabilities
- 49
- 6
- Capital Work in Progress
- 0
- 5
- 3
- 0
- Cash & Bank
- 1
- 34
- Total Assets
- 49
- Total Debt
- 5
- Net Working Capital
- 28
- Contingent Liabilities
- 1
- Book Value per Share
- 32.89
- Face Value
- 10.00
- Total Debt
- 5
- Net Working Capital
- 28
- Contingent Liabilities
- 1
- Book Value per Share
- 32.89
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 11
- 28
- 2
- Trade Payables
- 1
- 9
- Total Liabilities
- 51
- 5
- Capital Work in Progress
- 0
- 4
- 2
- 0
- Cash & Bank
- 1
- 39
- Total Assets
- 51
- Total Debt
- 4
- Net Working Capital
- 33
- Contingent Liabilities
- 34
- Book Value per Share
- 35.75
- Face Value
- 10.00
- Total Debt
- 4
- Net Working Capital
- 33
- Contingent Liabilities
- 34
- Book Value per Share
- 35.75
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 11
- 29
- 2
- Trade Payables
- 2
- 11
- Total Liabilities
- 56
- 5
- Capital Work in Progress
- 0
- 2
- 3
- 0
- Cash & Bank
- 1
- 44
- Total Assets
- 56
- Total Debt
- 5
- Net Working Capital
- 34
- Contingent Liabilities
- 34
- Book Value per Share
- 36.92
- Face Value
- 10.00
- Total Debt
- 5
- Net Working Capital
- 34
- Contingent Liabilities
- 34
- Book Value per Share
- 36.92
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 12
- 40
- 2
- Trade Payables
- 7
- 17
- Total Liabilities
- 78
- 5
- Capital Work in Progress
- 3
- 2
- 8
- 0
- Cash & Bank
- 6
- 54
- Total Assets
- 78
- Total Debt
- 4
- Net Working Capital
- 43
- Contingent Liabilities
- 34
- Book Value per Share
- 43.54
- Face Value
- 10.00
- Total Debt
- 4
- Net Working Capital
- 43
- Contingent Liabilities
- 34
- Book Value per Share
- 43.54
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 12
- 47
- 4
- Trade Payables
- 1
- 14
- Total Liabilities
- 78
- 7
- Capital Work in Progress
- 0
- 4
- 4
- 0
- Cash & Bank
- 1
- 61
- Total Assets
- 78
- Total Debt
- 6
- Net Working Capital
- 49
- Contingent Liabilities
- 34
- Book Value per Share
- 49.50
- Face Value
- 10.00
- Total Debt
- 6
- Net Working Capital
- 49
- Contingent Liabilities
- 34
- Book Value per Share
- 49.50
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 12
- 49
- 5
- Trade Payables
- 1
- 16
- Total Liabilities
- 83
- 8
- Capital Work in Progress
- 0
- 5
- 7
- 0
- Cash & Bank
- 3
- 60
- Total Assets
- 83
- Total Debt
- 7
- Net Working Capital
- 49
- Contingent Liabilities
- 34
- Book Value per Share
- 50.83
- Face Value
- 10.00
- Total Debt
- 7
- Net Working Capital
- 49
- Contingent Liabilities
- 34
- Book Value per Share
- 50.83
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 12
- 62
- 2
- Trade Payables
- 3
- 13
- Total Liabilities
- 92
- 9
- Capital Work in Progress
- 0
- 16
- 6
- 7
- Cash & Bank
- 0
- 53
- Total Assets
- 92
- Total Debt
- 2
- Net Working Capital
- 50
- Contingent Liabilities
- 33
- Book Value per Share
- 61.97
- Face Value
- 10.00
- Total Debt
- 2
- Net Working Capital
- 50
- Contingent Liabilities
- 33
- Book Value per Share
- 61.97
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 15
- 164
- 3
- Trade Payables
- 7
- 27
- Total Liabilities
- 216
- 8
- Capital Work in Progress
- 0
- 108
- 9
- 10
- Cash & Bank
- 0
- 80
- Total Assets
- 216
- Total Debt
- 3
- Net Working Capital
- 72
- Contingent Liabilities
- 33
- Book Value per Share
- 122.65
- Face Value
- 10.00
- Total Debt
- 3
- Net Working Capital
- 72
- Contingent Liabilities
- 33
- Book Value per Share
- 122.65
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 15
- 158
- 4
- Trade Payables
- 9
- 21
- Total Liabilities
- 206
- 8
- Capital Work in Progress
- 0
- 87
- 11
- 10
- Cash & Bank
- 0
- 91
- Total Assets
- 206
- Total Debt
- 4
- Net Working Capital
- 85
- Contingent Liabilities
- 33
- Book Value per Share
- 118.95
- Face Value
- 10.00
- Total Debt
- 4
- Net Working Capital
- 85
- Contingent Liabilities
- 33
- Book Value per Share
- 118.95
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -2 | -3 | -10 | -5 | -1 | -2 | -0 | -1 | -22 | -8 | |
| Cash from Investing | 3 | 4 | 10 | 6 | 1 | -4 | 1 | 1 | -17 | 8 |
| Cash from Financing | -1 | 0 | -0 | -0 | 6 | 1 | -0 | -0 | 38 | -0 |
| 0 | 1 | -1 | 0 | 6 | -5 | 0 | -0 | -1 | -0 | |
| Free Cash Flow | -2 | -4 | -10 | -6 | -4 | -2 | -2 | -1 | -22 | -8 |
| OCF / Net Profit | -9.09 | -26.45 | -2.94 | -1.88 | -0.18 | -0.49 | -0.00 | -0.18 | -2.83 | -0.53 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -26 | -27 | -25 | -15 | -32 | -36 |
| OCF / Net Profit | -9.09 | -26.45 | -2.94 | -1.88 | -0.18 | -0.49 | -0.00 | -0.18 | -2.83 | -0.53 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -26 | -27 | -25 | -15 | -32 | -36 |
Mar 2017
- -2
- Cash from Investing
- 3
- Cash from Financing
- -1
- 0
- Free Cash Flow
- -2
- OCF / Net Profit
- -9.09
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -9.09
- Cumulative 5-Year FCF
- 0
Mar 2018
- -3
- Cash from Investing
- 4
- Cash from Financing
- 0
- 1
- Free Cash Flow
- -4
- OCF / Net Profit
- -26.45
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -26.45
- Cumulative 5-Year FCF
- 0
Mar 2019
- -10
- Cash from Investing
- 10
- Cash from Financing
- -0
- -1
- Free Cash Flow
- -10
- OCF / Net Profit
- -2.94
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -2.94
- Cumulative 5-Year FCF
- 0
Mar 2020
- -5
- Cash from Investing
- 6
- Cash from Financing
- -0
- 0
- Free Cash Flow
- -6
- OCF / Net Profit
- -1.88
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -1.88
- Cumulative 5-Year FCF
- 0
Mar 2021
- -1
- Cash from Investing
- 1
- Cash from Financing
- 6
- 6
- Free Cash Flow
- -4
- OCF / Net Profit
- -0.18
- Cumulative 5-Year FCF
- -26
- OCF / Net Profit
- -0.18
- Cumulative 5-Year FCF
- -26
Mar 2022
- -2
- Cash from Investing
- -4
- Cash from Financing
- 1
- -5
- Free Cash Flow
- -2
- OCF / Net Profit
- -0.49
- Cumulative 5-Year FCF
- -27
- OCF / Net Profit
- -0.49
- Cumulative 5-Year FCF
- -27
Mar 2023
- -0
- Cash from Investing
- 1
- Cash from Financing
- -0
- 0
- Free Cash Flow
- -2
- OCF / Net Profit
- -0.00
- Cumulative 5-Year FCF
- -25
- OCF / Net Profit
- -0.00
- Cumulative 5-Year FCF
- -25
Mar 2024
- -1
- Cash from Investing
- 1
- Cash from Financing
- -0
- -0
- Free Cash Flow
- -1
- OCF / Net Profit
- -0.18
- Cumulative 5-Year FCF
- -15
- OCF / Net Profit
- -0.18
- Cumulative 5-Year FCF
- -15
Mar 2025
- -22
- Cash from Investing
- -17
- Cash from Financing
- 38
- -1
- Free Cash Flow
- -22
- OCF / Net Profit
- -2.83
- Cumulative 5-Year FCF
- -32
- OCF / Net Profit
- -2.83
- Cumulative 5-Year FCF
- -32
Mar 2026
- -8
- Cash from Investing
- 8
- Cash from Financing
- -0
- -0
- Free Cash Flow
- -8
- OCF / Net Profit
- -0.53
- Cumulative 5-Year FCF
- -36
- OCF / Net Profit
- -0.53
- Cumulative 5-Year FCF
- -36
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 0.21 | 0.12 | 3.32 | 2.60 | 5.27 | 3.72 | 1.38 | 3.84 | 5.41 | 9.98 |
| Book Value (₹) | 32.54 | 32.89 | 35.75 | 36.92 | 43.54 | 49.50 | 50.83 | 61.97 | 122.65 | 118.95 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 0.68 | 0.58 | 3.78 | 3.08 | 5.69 | 4.26 | 1.92 | 4.43 | 5.90 | 10.42 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 6.66% | 17.78% | 45.36% | 16.73% | 39.24% | 25.69% | 8.27% | -8.09% | 3.78% | 7.79% |
| Net Margin % | 1.05% | 0.80% | 30.49% | 18.56% | 26.47% | 17.87% | 3.82% | 12.75% | 16.04% | 14.24% |
| ROE % | 0.69% | 0.37% | 9.66% | 7.17% | 13.72% | 8.00% | 2.75% | 6.81% | 6.24% | 8.26% |
| ROCE % | 2.52% | 1.22% | 11.65% | 8.91% | 17.51% | 9.47% | 4.42% | 7.03% | 8.35% | 11.11% |
| 0.47% | 0.26% | 7.16% | 5.27% | 9.40% | 5.70% | 2.06% | 5.25% | 5.11% | 6.87% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 18 | 49 | 77 | 56 | 66 | 77 | 39 | 61 | 66 | 37 |
| Inventory Days | 69 | 71 | 78 | 67 | 85 | 90 | 48 | 68 | 57 | 35 |
| Payable Days | 125 | 115 | 69 | 110 | 213 | 122 | 15 | 46 | 64 | 40 |
| -37 | 5 | 87 | 13 | -62 | 46 | 72 | 83 | 59 | 32 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.11x | 0.13x | 0.11x | 0.11x | 0.09x | 0.09x | 0.11x | 0.03x | 0.02x | 0.02x |
| Interest Coverage (x) | 2.85x | 1.32x | 15.29x | 12.53x | 32.64x | 23.78x | 6.38x | 11.15x | 33.38x | 51.74x |
| 3.05x | 3.92x | 5.12x | 3.93x | 2.93x | 4.45x | 3.95x | 4.61x | 4.05x | 4.62x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 51.08% | 6.48% | -21.03% | 25.39% | 54.58% | 4.81% | 76.07% | -19.02% | 41.77% | 112.21% |
| Operating Profit Growth % | 359.67% | 98.92% | 84.66% | -52.40% | 269.41% | -31.53% | -44.06% | 5.07% | 205.46% | 79.18% |
| Net Profit Growth % | 145.85% | -43.21% | 2652.72% | -21.48% | 124.70% | -29.36% | -62.92% | 178.44% | 71.33% | 84.31% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 178.44% | 40.95% | 84.30% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 28.08x | 35.66x | 14.72x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.74x | 1.57x | 1.23x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 34.79x | 24.71x | 10.54x |
Mar 2017
- EPS (₹)
- 0.21
- Book Value (₹)
- 32.54
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.68
- Operating Margin %
- 6.66%
- Net Margin %
- 1.05%
- ROE %
- 0.69%
- ROCE %
- 2.52%
- 0.47%
- Debtor Days
- 18
- Inventory Days
- 69
- Payable Days
- 125
- -37
- Debt to Equity (x)
- 0.11x
- Interest Coverage (x)
- 2.85x
- 3.05x
- Revenue Growth %
- 51.08%
- Operating Profit Growth %
- 359.67%
- Net Profit Growth %
- 145.85%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 0.12
- Book Value (₹)
- 32.89
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.58
- Operating Margin %
- 17.78%
- Net Margin %
- 0.80%
- ROE %
- 0.37%
- ROCE %
- 1.22%
- 0.26%
- Debtor Days
- 49
- Inventory Days
- 71
- Payable Days
- 115
- 5
- Debt to Equity (x)
- 0.13x
- Interest Coverage (x)
- 1.32x
- 3.92x
- Revenue Growth %
- 6.48%
- Operating Profit Growth %
- 98.92%
- Net Profit Growth %
- -43.21%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 3.32
- Book Value (₹)
- 35.75
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.78
- Operating Margin %
- 45.36%
- Net Margin %
- 30.49%
- ROE %
- 9.66%
- ROCE %
- 11.65%
- 7.16%
- Debtor Days
- 77
- Inventory Days
- 78
- Payable Days
- 69
- 87
- Debt to Equity (x)
- 0.11x
- Interest Coverage (x)
- 15.29x
- 5.12x
- Revenue Growth %
- -21.03%
- Operating Profit Growth %
- 84.66%
- Net Profit Growth %
- 2652.72%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 2.60
- Book Value (₹)
- 36.92
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.08
- Operating Margin %
- 16.73%
- Net Margin %
- 18.56%
- ROE %
- 7.17%
- ROCE %
- 8.91%
- 5.27%
- Debtor Days
- 56
- Inventory Days
- 67
- Payable Days
- 110
- 13
- Debt to Equity (x)
- 0.11x
- Interest Coverage (x)
- 12.53x
- 3.93x
- Revenue Growth %
- 25.39%
- Operating Profit Growth %
- -52.40%
- Net Profit Growth %
- -21.48%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 5.27
- Book Value (₹)
- 43.54
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 5.69
- Operating Margin %
- 39.24%
- Net Margin %
- 26.47%
- ROE %
- 13.72%
- ROCE %
- 17.51%
- 9.40%
- Debtor Days
- 66
- Inventory Days
- 85
- Payable Days
- 213
- -62
- Debt to Equity (x)
- 0.09x
- Interest Coverage (x)
- 32.64x
- 2.93x
- Revenue Growth %
- 54.58%
- Operating Profit Growth %
- 269.41%
- Net Profit Growth %
- 124.70%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 3.72
- Book Value (₹)
- 49.50
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 4.26
- Operating Margin %
- 25.69%
- Net Margin %
- 17.87%
- ROE %
- 8.00%
- ROCE %
- 9.47%
- 5.70%
- Debtor Days
- 77
- Inventory Days
- 90
- Payable Days
- 122
- 46
- Debt to Equity (x)
- 0.09x
- Interest Coverage (x)
- 23.78x
- 4.45x
- Revenue Growth %
- 4.81%
- Operating Profit Growth %
- -31.53%
- Net Profit Growth %
- -29.36%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 1.38
- Book Value (₹)
- 50.83
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.92
- Operating Margin %
- 8.27%
- Net Margin %
- 3.82%
- ROE %
- 2.75%
- ROCE %
- 4.42%
- 2.06%
- Debtor Days
- 39
- Inventory Days
- 48
- Payable Days
- 15
- 72
- Debt to Equity (x)
- 0.11x
- Interest Coverage (x)
- 6.38x
- 3.95x
- Revenue Growth %
- 76.07%
- Operating Profit Growth %
- -44.06%
- Net Profit Growth %
- -62.92%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 3.84
- Book Value (₹)
- 61.97
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 4.43
- Operating Margin %
- -8.09%
- Net Margin %
- 12.75%
- ROE %
- 6.81%
- ROCE %
- 7.03%
- 5.25%
- Debtor Days
- 61
- Inventory Days
- 68
- Payable Days
- 46
- 83
- Debt to Equity (x)
- 0.03x
- Interest Coverage (x)
- 11.15x
- 4.61x
- Revenue Growth %
- -19.02%
- Operating Profit Growth %
- 5.07%
- Net Profit Growth %
- 178.44%
- 178.44%
- P/E (x)
- 28.08x
- P/B (x)
- 1.74x
- Dividend Yield %
- 0.00%
- 34.79x
Mar 2025
- EPS (₹)
- 5.41
- Book Value (₹)
- 122.65
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 5.90
- Operating Margin %
- 3.78%
- Net Margin %
- 16.04%
- ROE %
- 6.24%
- ROCE %
- 8.35%
- 5.11%
- Debtor Days
- 66
- Inventory Days
- 57
- Payable Days
- 64
- 59
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 33.38x
- 4.05x
- Revenue Growth %
- 41.77%
- Operating Profit Growth %
- 205.46%
- Net Profit Growth %
- 71.33%
- 40.95%
- P/E (x)
- 35.66x
- P/B (x)
- 1.57x
- Dividend Yield %
- 0.00%
- 24.71x
Mar 2026
- EPS (₹)
- 9.98
- Book Value (₹)
- 118.95
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 10.42
- Operating Margin %
- 7.79%
- Net Margin %
- 14.24%
- ROE %
- 8.26%
- ROCE %
- 11.11%
- 6.87%
- Debtor Days
- 37
- Inventory Days
- 35
- Payable Days
- 40
- 32
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 51.74x
- 4.62x
- Revenue Growth %
- 112.21%
- Operating Profit Growth %
- 79.18%
- Net Profit Growth %
- 84.31%
- 84.30%
- P/E (x)
- 14.72x
- P/B (x)
- 1.23x
- Dividend Yield %
- 0.00%
- 10.54x
Documents
Announcements
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