Press release on marking a milestone of 2 years of IPO and growth journey.
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 firstTrading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
Copy Scrutinizer's report and Voting Results of the 40th Annual General Meeting held on September 22, 2026.
Proceedings of 40th Annual General Meeting held on September 22, 2026
Site Visit for Analyst/ Investors scheduled on September 30, 2026
Key MetricsFull financials →
P/E (TTM)
-531.5×
EPS ₹-0.24
P / Book
2.64×
BVPS ₹48
ROE
0.6%
FY26, avg equity
Net margin
0.6%
FY26
Revenue YoY
−7.8%
Q1 FY27
Net profit YoY
−33.7%
Q1 FY27
Debt / equity
0.11×
₹98 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 |
|---|---|---|---|---|
| MARATHON₹2,776 Cr | 14.1× | 1.22× | 12.6% | 41.6% |
| ALEMBICLTD₹2,735 Cr | 8.5× | 1.12× | 13.3% | 132.2% |
| HUBTOWN₹2,439 Cr | 22.6× | 0.93× | 6.5% | 25.4% |
| AJMERA₹2,378 Cr | 14.9× | 1.70× | 11.5% | 13.7% |
| ARKADE₹2,330 Cr | – | 2.64× | 0.6% | 0.6% |
| OMAXE₹2,168 Cr | – | – | – | -55.6% |
Residential, Commercial Projects: the companies closest in market value, of the 66 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 Flags4 Watch
Operating cash flow was -2.08× net profit
Cumulative over FY25–FY26 (2 years).
Free cash flow was negative in 2 of the last 2 years
Operating cash flow less capital expenditure, as filed.
Other income is 154% of profit before tax
FY26.
Results were filed late in 1 of the last 8 quarters
Slowest filing came 57 days after the period end.
Exceptional items above 5% of pre-tax profit in 1 of the last 2 years
FY25–FY26.
8 checks within their thresholds
Receivables grew -31% against revenue growth of 20%
FY26: debtor days moved from 19 to 11.
Inventory grew 0% against revenue growth of 20%
FY26: inventory days moved from 484 to 407.
Debt to equity is 0.11×
As at 2026-03-31.
Profit before interest and tax covers finance costs 9.6×
FY26.
Effective tax rate averaged 26%
Tax over pre-tax profit, last 2 years. The base corporate rate is about 25%.
Promoter holding is 71.19%, +0.10 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.
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: 0.42 — profit after tax over the year's opening total assets, %
- ✗ Operating cash flow positive: -119.4 — ₹ crore
- ✗ Cash flow above profit (accruals): -124.7 — operating cash flow less profit after tax, ₹ crore
- ✗ Return on assets improved: -12.12 — change in ROA, percentage points
- ✗ Long-term borrowings to assets fell: 2.2 — change in long-term borrowings over total assets, percentage points
- ✓ Current ratio improved: 2.96 — change in current assets over current liabilities
- ✓ No new shares issued: 0 — change in share capital, %
- ✓ Gross margin improved: 52.94 — revenue less material cost over revenue, change in percentage points
- ✓ Asset turnover improved: 0.107 — revenue over the year's opening total assets, change
Inputs: profit after tax ₹5 Cr (2026-03-31) · profit after tax ₹157 Cr (2025-03-31) · total assets ₹1,127 Cr (2026-03-31) · total assets ₹1,251 Cr (2025-03-31)
The paper's bands: 8–9: the paper's high group; 0–2: the paper's low group
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: 8.39 · FY to 2026-03-31Z = 1.2 × working capital / total assets + 1.4 × retained earnings / total assets + 3.3 × EBIT / total assets + 0.6 × market value of equity / total liabilities + 1.0 × sales / total assets
- working capital / total assets: 0.796 × 1.2
- retained earnings / total assets: 0.618 × 1.4 — reserves and surplus as retained earnings
- EBIT / total assets: 0.008 × 3.3 — profit before tax plus finance cost
- market value of equity / total liabilities: 9.698 × 0.6 — market capitalisation over total assets less equity
- sales / total assets: 0.724 × 1
Inputs: total assets ₹1,127 Cr (2026-03-31) · current assets ₹1,043 Cr (2026-03-31) · current liabilities ₹146 Cr (2026-03-31) · reserves ₹696 Cr (2026-03-31) · total equity ₹882 Cr (2026-03-31) · profit before tax ₹8 Cr (2026-03-31) · finance cost ₹1 Cr (2026-03-31) · revenue ₹816 Cr (2026-03-31) · market capitalisation (today) ₹2,376 Cr
The paper's bands: above 2.99: the paper's safe zone; 1.81–2.99: the grey zone; below 1.81: the distress zone
the 1968 form, fitted on manufacturers; reserves stand in for retained earnings, and profit before tax plus finance cost for EBIT
Source: Edward Altman, "Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy", Journal of Finance, 1968
Graham number: 17.61 ₹ 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: 0.29
- book value per share: 47.51 — owners' equity over shares (paid-up capital / face value)
Inputs: earnings per share 0.29 (2026-03-31) · owners' equity ₹882 Cr (2026-03-31) · paid-up capital ₹186 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: 10.49 % of assets · FY to 2026-03-31(profit after tax − operating cash flow) / average total assets
Inputs: profit after tax ₹5 Cr (2026-03-31) · operating cash flow ₹-119 Cr (2026-03-31) · total assets ₹1,127 Cr (2026-03-31) · total assets ₹1,251 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.