Shri Dinesh Mills Ltd.

•

₹ —-%

dineshmills.comBSE: -NSE: SHRIDINESH

Market Cap₹ 218 Cr.

Current Price—

High / Low—

Stock P/E0.0

Book Value₹ 365

Price to Book0.61

Dividend Yield0.39 %

ROCE5.3 %

ROE4.5 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

Company is almost debt free
Latest quarter profit grew 81.4% YoY, showing strong momentum
Company comfortably covers its interest (14.7x coverage)
Company generates healthy free cash flow
Company has a consistent dividend-paying track record

CONS

A large part of profit comes from other income (113.9% of PBT)
Recent results are weak - TTM profit is down 19.4% versus prior year
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.06x)
Operating margins have contracted to 5.0% from 23.0%
Company has delivered a poor profit growth of -0.2% over past five years
Recurring exceptional / one-off items are inflating headline profit

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

Peer comparison

EDIT COLUMNS

TextilesTextileTextile

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.	PAGEIND	35557.20	0.00	39660.05	1.55	192.81	-3.98	1420.45	7.89	73.60	20.35
2.	KPRMILL	1153.80	43.23	39438.50	0.43	258.54	21.55	1935.52	14.77	20.16	19.37
3.	WELSPUNLIV	188.95	64.30	17851.10	0.05	162.61	82.09	2795.45	23.66	15.04	11.53
4.	VTL	599.50	20.47	17354.07	0.83	314.56	51.46	2703.08	13.31	11.31	18.11
5.	ARVIND	538.70	35.39	14654.83	0.84	57.77	5.61	2500.96	24.65	13.98	9.64
6.	MANYAVAR	546.95	32.99	13289.70	1.42	66.90	37.31	267.95	22.74	33.92	45.53
7.	PGIL	2382.25	35.46	11003.74	0.61	99.23	51.37	1528.26	24.46	22.42	10.72
8.	SWANCORP	306.15	42.92	9596.48	0.05	-35.99	-233.33	1013.75	-16.44	4.50	-0.38
9.	ICIL	435.30	57.14	8621.31	0.34	63.22	67.28	1206.96	25.89	8.73	11.88
10.	GARFIBRES	761.45	35.40	7435.43	1.18	64.60	21.56	482.37	31.35	20.98	18.70
11.	KUSUMGAR	573.95	61.36	6025.98	0.00	426.47	—	2472.47	—	26.15	30.50
12.	SHRIDINESH	388.75	19.62	217.72	0.39	7.47	100.94	18.13	12.88	4.78	17.34

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
	15	16	17	19	15	15	16	21	16	17	15	19	18
	12	13	13	17	13	14	15	17	14	15	15	19	16
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	3	2	3	4	4	4	2	3	4	2	3	2	6
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
	5	10	49	-2	5	4	0	5	5	2	2	0	9
Tax %	33.60%	19.44%	18.91%	-33.19%	20.79%	17.43%	783.33%	22.74%	14.04%	28.02%	21.14%	-239.39%	16.26%
Net Profit	3	8	40	-3	4	3	-1	4	4	2	2	1	7
	6	14	71	-6	7	6	-1	7	7	3	3	2	1
Equity Capital	6	6	6	6	6	6	6	6	6	6	6	6	6
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	6	6	6	6	6	6	6	6	6	6	6	6	6
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%

Jun 2023

: 15
: 12
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 0
Depreciation: 1
: 5
Tax %: 33.60%
Net Profit: 3
: 6
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 16
: 13
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 0
Depreciation: 1
: 10
Tax %: 19.44%
Net Profit: 8
: 14
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 17
: 13
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 0
Depreciation: 1
: 49
Tax %: 18.91%
Net Profit: 40
: 71
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 19
: 17
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 0
Depreciation: 1
: -2
Tax %: -33.19%
Net Profit: -3
: -6
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 15
: 13
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 0
Depreciation: 1
: 5
Tax %: 20.79%
Net Profit: 4
: 7
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 15
: 14
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 0
Depreciation: 1
: 4
Tax %: 17.43%
Net Profit: 3
: 6
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 16
: 15
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 0
Depreciation: 1
: 0
Tax %: 783.33%
Net Profit: -1
: -1
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 21
: 17
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 0
Depreciation: 1
: 5
Tax %: 22.74%
Net Profit: 4
: 7
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 16
: 14
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 0
Depreciation: 1
: 5
Tax %: 14.04%
Net Profit: 4
: 7
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 17
: 15
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 0
Depreciation: 1
: 2
Tax %: 28.02%
Net Profit: 2
: 3
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 15
: 15
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 0
Depreciation: 1
: 2
Tax %: 21.14%
Net Profit: 2
: 3
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 19
: 19
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 0
Depreciation: 1
: 0
Tax %: -239.39%
Net Profit: 1
: 2
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 18
: 16
Operating Profit: —
OPM %: —
Other Income: 6
Interest: 0
Depreciation: 1
: 9
Tax %: 16.26%
Net Profit: 7
: 1
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
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
	79	77	69	51	49	55	60	67	66	67	70
	72	74	63	52	40	46	53	55	58	64	65
Operating Profit	11	7	10	7	14	14	14	24	21	14	—
OPM %	14	9	14	14	29	25	23	35	32	21	—
Other Income	4	4	4	8	5	5	7	12	13	11	14
Interest	2	2	1	0	0	0	0	0	1	1	1
Depreciation	8	7	7	6	4	3	3	3	3	3	3
	2	-7	-1	1	10	30	28	62	14	10	14
Tax %	-49	13	123	-54	10	13	18	22	27	11	13
Net Profit	3	-6	0	2	9	27	23	48	11	9	12
EPS	0	0	0	0	16	47	41	86	19	16	—
Dividend Payout %	27	-13	486	92	32	16	24	35	11	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	6	-11	0	3	16	47	41	86	19	16	—
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	6	-11	0	3	16	47	41	86	19	16	—

Mar 2017

: 79
: 72
Operating Profit: 11
OPM %: 14
Other Income: 4
Interest: 2
Depreciation: 8
: 2
Tax %: -49
Net Profit: 3
EPS: 0
Dividend Payout %: 27
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2018

: 77
: 74
Operating Profit: 7
OPM %: 9
Other Income: 4
Interest: 2
Depreciation: 7
: -7
Tax %: 13
Net Profit: -6
EPS: 0
Dividend Payout %: -13
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -11

Mar 2019

: 69
: 63
Operating Profit: 10
OPM %: 14
Other Income: 4
Interest: 1
Depreciation: 7
: -1
Tax %: 123
Net Profit: 0
EPS: 0
Dividend Payout %: 486
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 0

Mar 2020

: 51
: 52
Operating Profit: 7
OPM %: 14
Other Income: 8
Interest: 0
Depreciation: 6
: 1
Tax %: -54
Net Profit: 2
EPS: 0
Dividend Payout %: 92
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3

Mar 2021

: 49
: 40
Operating Profit: 14
OPM %: 29
Other Income: 5
Interest: 0
Depreciation: 4
: 10
Tax %: 10
Net Profit: 9
EPS: 16
Dividend Payout %: 32
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 16
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 16

Mar 2022

: 55
: 46
Operating Profit: 14
OPM %: 25
Other Income: 5
Interest: 0
Depreciation: 3
: 30
Tax %: 13
Net Profit: 27
EPS: 47
Dividend Payout %: 16
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 47
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 47

Mar 2023

: 60
: 53
Operating Profit: 14
OPM %: 23
Other Income: 7
Interest: 0
Depreciation: 3
: 28
Tax %: 18
Net Profit: 23
EPS: 41
Dividend Payout %: 24
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 41
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 41

Mar 2024

: 67
: 55
Operating Profit: 24
OPM %: 35
Other Income: 12
Interest: 0
Depreciation: 3
: 62
Tax %: 22
Net Profit: 48
EPS: 86
Dividend Payout %: 35
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 86
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 86

Mar 2025

: 66
: 58
Operating Profit: 21
OPM %: 32
Other Income: 13
Interest: 1
Depreciation: 3
: 14
Tax %: 27
Net Profit: 11
EPS: 19
Dividend Payout %: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 19
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 19

Mar 2026

: 67
: 64
Operating Profit: 14
OPM %: 21
Other Income: 11
Interest: 1
Depreciation: 3
: 10
Tax %: 11
Net Profit: 9
EPS: 16
Dividend Payout %: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 16
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 16

TTM

: 70
: 65
Operating Profit: —
OPM %: —
Other Income: 14
Interest: 1
Depreciation: 3
: 14
Tax %: 13
Net Profit: 12
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:: -1%
5 Years:: 7%
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: 12%
5 Years:: 0%
3 Years:: -28%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 15%
3 Years:: 12%
Last Year:: 5%

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	5	5	5	5	6	6	6	6	6	6
	99	93	94	94	108	131	150	191	184	192
	-0	-1	-1	-0	-1	-1	-1	-0	-3	-4
Trade Payables	3	3	2	2	2	2	3	3	4	3
	36	30	28	20	16	19	24	31	34	30
Total Liabilities	143	130	128	121	130	158	181	230	225	226
ASSETS	-	-	-	-	-	-	-	-	-	-
	43	37	33	24	19	17	16	23	24	22
	47	49	60	71	87	108	131	174	158	169
	35	29	20	12	13	13	12	15	16	15
	0	0	0	0	0	0	0	5	5	5
Cash & Bank	4	3	4	2	2	5	3	1	2	2
	14	13	11	12	9	15	19	12	20	13
Total Assets	143	130	128	121	130	158	181	230	225	226
Total Debt	9	4	1	-0	-1	-1	-1	5	5	2
Net Working Capital	62	58	61	67	83	102	116	163	153	165
Contingent Liabilities	10	10	9	5	4	4	4	3	3	2
Book Value per Share	204.67	192.66	190.46	187.77	202.13	244.26	277.37	351.74	339.08	352.14
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00
Total Debt	9	4	1	-0	-1	-1	-1	5	5	2
Net Working Capital	62	58	61	67	83	102	116	163	153	165
Contingent Liabilities	10	10	9	5	4	4	4	3	3	2
Book Value per Share	204.67	192.66	190.46	187.77	202.13	244.26	277.37	351.74	339.08	352.14
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: 5
: 99
: -0
Trade Payables: 3
: 36
Total Liabilities: 143
: 43
: 47
: 35
: 0
Cash & Bank: 4
: 14
Total Assets: 143
Total Debt: 9
Net Working Capital: 62
Contingent Liabilities: 10
Book Value per Share: 204.67
Face Value: 10.00
Total Debt: 9
Net Working Capital: 62
Contingent Liabilities: 10
Book Value per Share: 204.67
Face Value: 10.00

Mar 2018

Equity Capital: 5
: 93
: -1
Trade Payables: 3
: 30
Total Liabilities: 130
: 37
: 49
: 29
: 0
Cash & Bank: 3
: 13
Total Assets: 130
Total Debt: 4
Net Working Capital: 58
Contingent Liabilities: 10
Book Value per Share: 192.66
Face Value: 10.00
Total Debt: 4
Net Working Capital: 58
Contingent Liabilities: 10
Book Value per Share: 192.66
Face Value: 10.00

Mar 2019

Equity Capital: 5
: 94
: -1
Trade Payables: 2
: 28
Total Liabilities: 128
: 33
: 60
: 20
: 0
Cash & Bank: 4
: 11
Total Assets: 128
Total Debt: 1
Net Working Capital: 61
Contingent Liabilities: 9
Book Value per Share: 190.46
Face Value: 10.00
Total Debt: 1
Net Working Capital: 61
Contingent Liabilities: 9
Book Value per Share: 190.46
Face Value: 10.00

Mar 2020

Equity Capital: 5
: 94
: -0
Trade Payables: 2
: 20
Total Liabilities: 121
: 24
: 71
: 12
: 0
Cash & Bank: 2
: 12
Total Assets: 121
Total Debt: -0
Net Working Capital: 67
Contingent Liabilities: 5
Book Value per Share: 187.77
Face Value: 10.00
Total Debt: -0
Net Working Capital: 67
Contingent Liabilities: 5
Book Value per Share: 187.77
Face Value: 10.00

Mar 2021

Equity Capital: 6
: 108
: -1
Trade Payables: 2
: 16
Total Liabilities: 130
: 19
: 87
: 13
: 0
Cash & Bank: 2
: 9
Total Assets: 130
Total Debt: -1
Net Working Capital: 83
Contingent Liabilities: 4
Book Value per Share: 202.13
Face Value: 10.00
Total Debt: -1
Net Working Capital: 83
Contingent Liabilities: 4
Book Value per Share: 202.13
Face Value: 10.00

Mar 2022

Equity Capital: 6
: 131
: -1
Trade Payables: 2
: 19
Total Liabilities: 158
: 17
: 108
: 13
: 0
Cash & Bank: 5
: 15
Total Assets: 158
Total Debt: -1
Net Working Capital: 102
Contingent Liabilities: 4
Book Value per Share: 244.26
Face Value: 10.00
Total Debt: -1
Net Working Capital: 102
Contingent Liabilities: 4
Book Value per Share: 244.26
Face Value: 10.00

Mar 2023

Equity Capital: 6
: 150
: -1
Trade Payables: 3
: 24
Total Liabilities: 181
: 16
: 131
: 12
: 0
Cash & Bank: 3
: 19
Total Assets: 181
Total Debt: -1
Net Working Capital: 116
Contingent Liabilities: 4
Book Value per Share: 277.37
Face Value: 10.00
Total Debt: -1
Net Working Capital: 116
Contingent Liabilities: 4
Book Value per Share: 277.37
Face Value: 10.00

Mar 2024

Equity Capital: 6
: 191
: -0
Trade Payables: 3
: 31
Total Liabilities: 230
: 23
: 174
: 15
: 5
Cash & Bank: 1
: 12
Total Assets: 230
Total Debt: 5
Net Working Capital: 163
Contingent Liabilities: 3
Book Value per Share: 351.74
Face Value: 10.00
Total Debt: 5
Net Working Capital: 163
Contingent Liabilities: 3
Book Value per Share: 351.74
Face Value: 10.00

Mar 2025

Equity Capital: 6
: 184
: -3
Trade Payables: 4
: 34
Total Liabilities: 225
: 24
: 158
: 16
: 5
Cash & Bank: 2
: 20
Total Assets: 225
Total Debt: 5
Net Working Capital: 153
Contingent Liabilities: 3
Book Value per Share: 339.08
Face Value: 10.00
Total Debt: 5
Net Working Capital: 153
Contingent Liabilities: 3
Book Value per Share: 339.08
Face Value: 10.00

Mar 2026

Equity Capital: 6
: 192
: -4
Trade Payables: 3
: 30
Total Liabilities: 226
: 22
: 169
: 15
: 5
Cash & Bank: 2
: 13
Total Assets: 226
Total Debt: 2
Net Working Capital: 165
Contingent Liabilities: 2
Book Value per Share: 352.14
Face Value: 10.00
Total Debt: 2
Net Working Capital: 165
Contingent Liabilities: 2
Book Value per Share: 352.14
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
	12	6	14	2	9	26	22	-9	2	3
Cash from Investing	-32	-1	-12	-2	-12	-22	-19	7	16	2
Cash from Financing	-8	-6	-1	-3	3	-1	-5	1	-18	-4
	-28	-1	1	-3	0	3	-2	-2	-0	1
Free Cash Flow	11	5	13	2	9	26	22	-18	-2	3
OCF / Net Profit	4.12	-1.02	74.85	1.24	1.04	0.99	0.97	-0.19	0.19	0.36
Cumulative 5-Year FCF	0	0	0	0	40	55	73	42	38	32
OCF / Net Profit	4.12	-1.02	74.85	1.24	1.04	0.99	0.97	-0.19	0.19	0.36
Cumulative 5-Year FCF	0	0	0	0	40	55	73	42	38	32

Mar 2017

: 12
Cash from Investing: -32
Cash from Financing: -8
: -28
Free Cash Flow: 11
OCF / Net Profit: 4.12
Cumulative 5-Year FCF: 0
OCF / Net Profit: 4.12
Cumulative 5-Year FCF: 0

Mar 2018

: 6
Cash from Investing: -1
Cash from Financing: -6
: -1
Free Cash Flow: 5
OCF / Net Profit: -1.02
Cumulative 5-Year FCF: 0
OCF / Net Profit: -1.02
Cumulative 5-Year FCF: 0

Mar 2019

: 14
Cash from Investing: -12
Cash from Financing: -1
: 1
Free Cash Flow: 13
OCF / Net Profit: 74.85
Cumulative 5-Year FCF: 0
OCF / Net Profit: 74.85
Cumulative 5-Year FCF: 0

Mar 2020

: 2
Cash from Investing: -2
Cash from Financing: -3
: -3
Free Cash Flow: 2
OCF / Net Profit: 1.24
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.24
Cumulative 5-Year FCF: 0

Mar 2021

: 9
Cash from Investing: -12
Cash from Financing: 3
: 0
Free Cash Flow: 9
OCF / Net Profit: 1.04
Cumulative 5-Year FCF: 40
OCF / Net Profit: 1.04
Cumulative 5-Year FCF: 40

Mar 2022

: 26
Cash from Investing: -22
Cash from Financing: -1
: 3
Free Cash Flow: 26
OCF / Net Profit: 0.99
Cumulative 5-Year FCF: 55
OCF / Net Profit: 0.99
Cumulative 5-Year FCF: 55

Mar 2023

: 22
Cash from Investing: -19
Cash from Financing: -5
: -2
Free Cash Flow: 22
OCF / Net Profit: 0.97
Cumulative 5-Year FCF: 73
OCF / Net Profit: 0.97
Cumulative 5-Year FCF: 73

Mar 2024

: -9
Cash from Investing: 7
Cash from Financing: 1
: -2
Free Cash Flow: -18
OCF / Net Profit: -0.19
Cumulative 5-Year FCF: 42
OCF / Net Profit: -0.19
Cumulative 5-Year FCF: 42

Mar 2025

: 2
Cash from Investing: 16
Cash from Financing: -18
: -0
Free Cash Flow: -2
OCF / Net Profit: 0.19
Cumulative 5-Year FCF: 38
OCF / Net Profit: 0.19
Cumulative 5-Year FCF: 38

Mar 2026

: 3
Cash from Investing: 2
Cash from Financing: -4
: 1
Free Cash Flow: 3
OCF / Net Profit: 0.36
Cumulative 5-Year FCF: 32
OCF / Net Profit: 0.36
Cumulative 5-Year FCF: 32

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 (₹)	5.51	-11.13	0.37	3.27	15.73	47.33	40.97	85.53	18.76	15.56
Book Value (₹)	204.67	192.66	190.46	187.77	202.13	244.26	277.37	351.74	339.08	352.14
Dividend per Share (₹)	1.50	1.50	1.80	3.00	5.00	7.50	10.00	30.00	2.00	1.50
Cash EPS (₹)	20.34	2.82	13.10	13.97	23.29	53.41	47.12	90.55	24.15	20.61
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	13.61%	9.29%	14.07%	14.13%	29.00%	25.06%	23.03%	17.09%	12.31%	5.02%
Net Margin %	3.32%	-7.24%	0.28%	3.39%	17.94%	48.10%	38.43%	71.63%	15.85%	12.94%
ROE %	2.72%	-5.60%	0.20%	1.75%	8.28%	21.20%	15.71%	27.19%	5.43%	4.50%
ROCE %	3.47%	-4.64%	0.29%	1.32%	9.40%	24.59%	19.47%	34.58%	7.63%	5.30%
	1.96%	-4.15%	0.15%	1.39%	7.00%	18.41%	13.54%	23.26%	4.62%	3.87%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	45	44	42	50	46	34	31	29	29	28
Inventory Days	146	149	129	115	94	87	77	75	86	83
Payable Days	38	39	38	36	56	56	61	73	78	71
	153	154	133	130	84	65	48	31	37	39
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	0.09x	0.05x	0.01x	-0.00x	-0.01x	-0.01x	-0.01x	0.03x	0.03x	0.01x
Interest Coverage (x)	1.91x	-3.33x	0.26x	6.41x	49.68x	237.81x	191.20x	383.54x	19.76x	14.70x
	3.60x	3.94x	4.05x	5.43x	7.55x	7.68x	6.87x	9.42x	7.96x	9.63x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	1.54%	-3.06%	-10.54%	-25.52%	-4.08%	12.18%	8.34%	12.01%	-0.86%	1.56%
Operating Profit Growth %	-5.39%	-36.84%	33.34%	-25.21%	96.83%	-3.04%	-0.46%	71.90%	-10.92%	-31.24%
Net Profit Growth %	-3.58%	-302.05%	103.41%	800.67%	407.70%	200.80%	-13.43%	108.75%	-78.07%	-17.05%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	108.75%	-78.07%	-17.05%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.59x	14.98x	13.79x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.36x	0.83x	0.61x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.28%	0.71%	0.70%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	11.50x	7.63x	8.30x

Mar 2017

EPS (₹): 5.51
Book Value (₹): 204.67
Dividend per Share (₹): 1.50
Cash EPS (₹): 20.34
Operating Margin %: 13.61%
Net Margin %: 3.32%
ROE %: 2.72%
ROCE %: 3.47%
: 1.96%
Debtor Days: 45
Inventory Days: 146
Payable Days: 38
: 153
Debt to Equity (x): 0.09x
Interest Coverage (x): 1.91x
: 3.60x
Revenue Growth %: 1.54%
Operating Profit Growth %: -5.39%
Net Profit Growth %: -3.58%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): -11.13
Book Value (₹): 192.66
Dividend per Share (₹): 1.50
Cash EPS (₹): 2.82
Operating Margin %: 9.29%
Net Margin %: -7.24%
ROE %: -5.60%
ROCE %: -4.64%
: -4.15%
Debtor Days: 44
Inventory Days: 149
Payable Days: 39
: 154
Debt to Equity (x): 0.05x
Interest Coverage (x): -3.33x
: 3.94x
Revenue Growth %: -3.06%
Operating Profit Growth %: -36.84%
Net Profit Growth %: -302.05%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 0.37
Book Value (₹): 190.46
Dividend per Share (₹): 1.80
Cash EPS (₹): 13.10
Operating Margin %: 14.07%
Net Margin %: 0.28%
ROE %: 0.20%
ROCE %: 0.29%
: 0.15%
Debtor Days: 42
Inventory Days: 129
Payable Days: 38
: 133
Debt to Equity (x): 0.01x
Interest Coverage (x): 0.26x
: 4.05x
Revenue Growth %: -10.54%
Operating Profit Growth %: 33.34%
Net Profit Growth %: 103.41%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 3.27
Book Value (₹): 187.77
Dividend per Share (₹): 3.00
Cash EPS (₹): 13.97
Operating Margin %: 14.13%
Net Margin %: 3.39%
ROE %: 1.75%
ROCE %: 1.32%
: 1.39%
Debtor Days: 50
Inventory Days: 115
Payable Days: 36
: 130
Debt to Equity (x): -0.00x
Interest Coverage (x): 6.41x
: 5.43x
Revenue Growth %: -25.52%
Operating Profit Growth %: -25.21%
Net Profit Growth %: 800.67%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 15.73
Book Value (₹): 202.13
Dividend per Share (₹): 5.00
Cash EPS (₹): 23.29
Operating Margin %: 29.00%
Net Margin %: 17.94%
ROE %: 8.28%
ROCE %: 9.40%
: 7.00%
Debtor Days: 46
Inventory Days: 94
Payable Days: 56
: 84
Debt to Equity (x): -0.01x
Interest Coverage (x): 49.68x
: 7.55x
Revenue Growth %: -4.08%
Operating Profit Growth %: 96.83%
Net Profit Growth %: 407.70%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 47.33
Book Value (₹): 244.26
Dividend per Share (₹): 7.50
Cash EPS (₹): 53.41
Operating Margin %: 25.06%
Net Margin %: 48.10%
ROE %: 21.20%
ROCE %: 24.59%
: 18.41%
Debtor Days: 34
Inventory Days: 87
Payable Days: 56
: 65
Debt to Equity (x): -0.01x
Interest Coverage (x): 237.81x
: 7.68x
Revenue Growth %: 12.18%
Operating Profit Growth %: -3.04%
Net Profit Growth %: 200.80%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 40.97
Book Value (₹): 277.37
Dividend per Share (₹): 10.00
Cash EPS (₹): 47.12
Operating Margin %: 23.03%
Net Margin %: 38.43%
ROE %: 15.71%
ROCE %: 19.47%
: 13.54%
Debtor Days: 31
Inventory Days: 77
Payable Days: 61
: 48
Debt to Equity (x): -0.01x
Interest Coverage (x): 191.20x
: 6.87x
Revenue Growth %: 8.34%
Operating Profit Growth %: -0.46%
Net Profit Growth %: -13.43%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 85.53
Book Value (₹): 351.74
Dividend per Share (₹): 30.00
Cash EPS (₹): 90.55
Operating Margin %: 17.09%
Net Margin %: 71.63%
ROE %: 27.19%
ROCE %: 34.58%
: 23.26%
Debtor Days: 29
Inventory Days: 75
Payable Days: 73
: 31
Debt to Equity (x): 0.03x
Interest Coverage (x): 383.54x
: 9.42x
Revenue Growth %: 12.01%
Operating Profit Growth %: 71.90%
Net Profit Growth %: 108.75%
: 108.75%
P/E (x): 5.59x
P/B (x): 1.36x
Dividend Yield %: 6.28%
: 11.50x

Mar 2025

EPS (₹): 18.76
Book Value (₹): 339.08
Dividend per Share (₹): 2.00
Cash EPS (₹): 24.15
Operating Margin %: 12.31%
Net Margin %: 15.85%
ROE %: 5.43%
ROCE %: 7.63%
: 4.62%
Debtor Days: 29
Inventory Days: 86
Payable Days: 78
: 37
Debt to Equity (x): 0.03x
Interest Coverage (x): 19.76x
: 7.96x
Revenue Growth %: -0.86%
Operating Profit Growth %: -10.92%
Net Profit Growth %: -78.07%
: -78.07%
P/E (x): 14.98x
P/B (x): 0.83x
Dividend Yield %: 0.71%
: 7.63x

Mar 2026

EPS (₹): 15.56
Book Value (₹): 352.14
Dividend per Share (₹): 1.50
Cash EPS (₹): 20.61
Operating Margin %: 5.02%
Net Margin %: 12.94%
ROE %: 4.50%
ROCE %: 5.30%
: 3.87%
Debtor Days: 28
Inventory Days: 83
Payable Days: 71
: 39
Debt to Equity (x): 0.01x
Interest Coverage (x): 14.70x
: 9.63x
Revenue Growth %: 1.56%
Operating Profit Growth %: -31.24%
Net Profit Growth %: -17.05%
: -17.05%
P/E (x): 13.79x
P/B (x): 0.61x
Dividend Yield %: 0.70%
: 8.30x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	49.79	49.79	49.79	49.79	49.79	49.79	49.79	49.79	49.79
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.06	0.06	0.06	0.06	0.07	0.06	0.06	0.06	0.06
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	50.15	50.15	50.15	50.15	50.15	50.15	50.15	50.15	50.16

Jun 2024

: 49.79
FIIs: 0.00
: 0.06
Government: 0.00
: 50.15

Sep 2024

: 49.79
FIIs: 0.00
: 0.06
Government: 0.00
: 50.15

Dec 2024

: 49.79
FIIs: 0.00
: 0.06
Government: 0.00
: 50.15

Mar 2025

: 49.79
FIIs: 0.00
: 0.06
Government: 0.00
: 50.15

Jun 2025

: 49.79
FIIs: 0.00
: 0.07
Government: 0.00
: 50.15

Sep 2025

: 49.79
FIIs: 0.00
: 0.06
Government: 0.00
: 50.15

Dec 2025

: 49.79
FIIs: 0.00
: 0.06
Government: 0.00
: 50.15

Mar 2026

: 49.79
FIIs: 0.00
: 0.06
Government: 0.00
: 50.15

Jun 2026

: 49.79
FIIs: 0.00
: 0.06
Government: 0.00
: 50.16

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