Retirement of Prof. Narayanaswamy Balakrishnan as Non-Executive, Non Independent Director of the Company w.e.f. September 25, 2026.
Ask the chart: “Has this stock recovered from similar drawdowns before?”
AI equity note (bull/bear, numbers, sources) — coming soon
Management guidance consistency — coming soon
Latest filings
NSE announcements · newest firstCopy Srutinizers report of Annual General Meeting held on September 25, 2026. Further, the company has informed the Exchange regarding voting results.
Proceedings of Annual General Meeting held on September 25, 2026
Newspaper Publication - Notice to shareholders
Addendum to the Notice of 33rd Annual General Meeting (AGM) scheduled on September 25, 2026.
Key MetricsFull financials →
P/E (TTM)
46.1×
EPS ₹1.61
P / Book
2.23×
BVPS ₹33
ROE
4.9%
FY26, avg equity
Net margin
21.0%
FY26
Revenue YoY
−19.7%
Q1 FY27
Net profit YoY
−3.5%
Q1 FY27
Debt / equity
0.00×
₹6 Cr debt
Div. yield
–
no dividend in 12 months
From NSE filings (consolidated) and the last close.
Shareholding Pattern Jun 2026
Promoter pledge: none reported
Peer Comparison
| Company | P/E | P/B | ROE | Margin |
|---|---|---|---|---|
| IRFC₹1.04L Cr | 11.7× | 1.84× | 12.8% | 25.7% |
| RECLTD₹82,407 Cr | 5.1× | 0.97× | 20.0% | 27.4% |
| HUDCO₹34,831 Cr | 8.2× | 1.58× | 20.2% | 30.7% |
| IREDA₹31,806 Cr | 16.2× | 2.31× | 15.6% | 22.5% |
| IFCI₹19,924 Cr | 46.1× | 2.23× | 4.9% | 21.0% |
| TFCILTD₹6,403 Cr | 41.6× | 4.87× | 9.8% | 45.1% |
Financial Institution: the companies closest in market value, of the 7 in that basic industry whose filings we hold. Computed from each company's NSE filings (up to Q1 FY27) and the last close; hover a column for its definition.
Forensic Flags2 Watch
Free cash flow was negative in 4 of the last 5 years
Operating cash flow less capital expenditure, as filed.
Share count changed +22.7% in three years, net of bonuses and splits
From 2023-03-31 to 2026-03-31. Shares issued for mergers, placements, conversions and stock options all count.
Profit before interest and tax covers finance costs 2.3×
FY26.
Effective tax rate averaged 49%
Tax over pre-tax profit, last 3 years. The base corporate rate is about 25%.
9 checks within their thresholds
Receivables grew -7% against revenue growth of 10%
FY26: debtor days moved from 41 to 35.
Inventory grew -0% against revenue growth of 10%
FY26: inventory days moved from 13 to 12.
Debt to equity is 0.00×
As at 2026-03-31; it was 0.08× at 2023-03-31.
Other income is 12% of profit before tax
FY26.
Exceptional items above 5% of pre-tax profit in 0 of the last 5 years
FY22–FY26.
Promoter holding is 72.57%, +0.00 points over a year
2026-06-30 against 2025-06-30.
No promoter shares are pledged
Shareholding pattern as at 2026-06-30.
No auditor change or resignation filings in three years
From NSE announcements on record.
Results were filed late in 0 of the last 8 quarters
Slowest filing came 46 days after the period end.
Computed from NSE filings (consolidated). Colours follow fixed thresholds, shown on hover. These are facts about the filings, not advice. 1 check not run for lack of data.
Formula Scores
Piotroski F-score: 5 of 9 · FY to 2026-03-31one point for each of nine tests on profitability, leverage and liquidity, and operating efficiency, comparing the year with the one before
- ✓ Return on assets positive: 1.69 — profit after tax over the year's opening total assets, %
- ✓ Operating cash flow positive: 279.7 — ₹ crore
- ✗ Cash flow above profit (accruals): -155 — operating cash flow less profit after tax, ₹ crore
- ✗ Return on assets improved: -0.15 — change in ROA, percentage points
- ✓ Long-term borrowings to assets fell: -0.02 — change in long-term borrowings over total assets, percentage points
- Current ratio improved — current assets or liabilities not broken out
- ✓ No new shares issued: 0 — change in share capital, %
- ✓ Gross margin improved: 0.01 — revenue less material cost over revenue, change in percentage points
- ✗ Asset turnover improved: -0.019 — revenue over the year's opening total assets, change
Inputs: profit after tax ₹435 Cr (2026-03-31) · profit after tax ₹349 Cr (2025-03-31) · total assets ₹26,570 Cr (2026-03-31) · total assets ₹25,724 Cr (2025-03-31)
The paper's bands: 8–9: the paper's high group; 0–2: the paper's low group
8 of the nine tests could be run; the score counts the ones that passed
Source: Joseph Piotroski, "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers", Journal of Accounting Research, 2000
Altman Z-score: not computed · FY to 2026-03-31needs total and current assets, current liabilities, reserves, equity, profit before tax and revenue
Graham number: 22.7 ₹ per share · FY to 2026-03-31√(22.5 × earnings per share × book value per share): the price at which P/E × P/B = 22.5 (a P/E of 15 at a P/B of 1.5)
- earnings per share: 0.69
- book value per share: 33.2 — owners' equity over shares (paid-up capital / face value)
Inputs: earnings per share 0.69 (2026-03-31) · owners' equity ₹8,944 Cr (2026-03-31) · paid-up capital ₹2,694 Cr (2026-03-31) · face value 10 (2026-03-31)
a number the book uses as a ceiling for a defensive investor's purchase price; it is arithmetic on two reported figures, not a valuation
Source: Benjamin Graham, The Intelligent Investor (1949; the 22.5 in the 1973 edition's criteria for the defensive investor)
Sloan accrual ratio: 0.59 % of assets · FY to 2026-03-31(profit after tax − operating cash flow) / average total assets
Inputs: profit after tax ₹435 Cr (2026-03-31) · operating cash flow ₹280 Cr (2026-03-31) · total assets ₹26,570 Cr (2026-03-31) · total assets ₹25,724 Cr (2025-03-31)
how much of the year's profit was not cash; the paper sorts companies by this and reports the top decile's later returns
Source: Richard Sloan, "Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings?", The Accounting Review, 1996
Each score is its published formula applied to the company's own filings (consolidated); open one for the tests, the inputs and the paper. Arithmetic on the filings, not a view on the stock.