Change in Management and other matters of the Company
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 24, 2026. Further, the company has informed the Exchange regarding voting results.
Proceedings of Annual General Meeting held on September 24, 2026
Schedule of meet
Key MetricsFull financials →
P/E (TTM)
9.8×
EPS ₹6.10
P / Book
0.83×
BVPS ₹73
ROE
10.9%
FY26, avg equity
Net margin
5.7%
FY26
Revenue YoY
−11.0%
Q1 FY27
Net profit YoY
−37.6%
Q1 FY27
Debt / equity
0.39×
₹177 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 |
|---|---|---|---|---|
| DHARMAJ₹998 Cr | 16.6× | 2.22× | 13.0% | 4.8% |
| ADVANCE₹791 Cr | 16.2× | 2.55× | 11.4% | 5.5% |
| HERANBA₹751 Cr | – | 0.99× | -9.7% | -4.9% |
| BESTAGRO₹647 Cr | 21.9× | 0.84× | 1.2% | 0.7% |
| SHIVALIK₹643 Cr | 32.7× | 1.07× | 3.2% | 4.9% |
| IGCL₹379 Cr | 9.8× | 0.83× | 10.9% | 5.7% |
Pesticides & Agrochemicals: the companies closest in market value, of the 21 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 -0.78× 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.
Promoter holding is 69.05%, -27.82 points over a year
2026-06-30 against 2025-06-30.
Results were filed late in 1 of the last 6 quarters
Slowest filing came 115 days after the period end.
Profit before interest and tax covers finance costs 4.1×
FY26.
8 checks within their thresholds
Receivables grew 8% against revenue growth of 19%
FY26: debtor days moved from 138 to 125.
Inventory grew 27% against revenue growth of 19%
FY26: inventory days moved from 167 to 178.
Debt to equity is 0.39×
As at 2026-03-31.
Other income is 14% of profit before tax
FY26.
Exceptional items above 5% of pre-tax profit in 0 of the last 2 years
FY25–FY26.
Effective tax rate averaged 27%
Tax over pre-tax profit, last 2 years. The base corporate rate is about 25%.
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: 6 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: 5.82 — profit after tax over the year's opening total assets, %
- ✗ Operating cash flow positive: -40.7 — ₹ crore
- ✗ Cash flow above profit (accruals): -80.7 — operating cash flow less profit after tax, ₹ crore
- ✓ Return on assets improved: 1.24 — change in ROA, percentage points
- ✓ Long-term borrowings to assets fell: -5.45 — change in long-term borrowings over total assets, percentage points
- ✓ Current ratio improved: 0.35 — change in current assets over current liabilities
- ✗ No new shares issued: 29.59 — change in share capital, %
- ✓ Gross margin improved: 4.57 — revenue less material cost over revenue, change in percentage points
- ✓ Asset turnover improved: 0.166 — revenue over the year's opening total assets, change
Inputs: profit after tax ₹40 Cr (2026-03-31) · profit after tax ₹31 Cr (2025-03-31) · total assets ₹823 Cr (2026-03-31) · total assets ₹688 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: 2.93 · 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: 0.385 × 1.2
- retained earnings / total assets: 0.481 × 1.4 — reserves and surplus as retained earnings
- EBIT / total assets: 0.085 × 3.3 — profit before tax plus finance cost
- market value of equity / total liabilities: 1.103 × 0.6 — market capitalisation over total assets less equity
- sales / total assets: 0.856 × 1
Inputs: total assets ₹823 Cr (2026-03-31) · current assets ₹665 Cr (2026-03-31) · current liabilities ₹348 Cr (2026-03-31) · reserves ₹396 Cr (2026-03-31) · total equity ₹459 Cr (2026-03-31) · profit before tax ₹53 Cr (2026-03-31) · finance cost ₹17 Cr (2026-03-31) · revenue ₹705 Cr (2026-03-31) · market capitalisation (today) ₹402 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: 104.81 ₹ 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: 6.72
- book value per share: 72.65 — owners' equity over shares (paid-up capital / face value)
Inputs: earnings per share 6.72 (2026-03-31) · owners' equity ₹459 Cr (2026-03-31) · paid-up capital ₹63 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: 10.69 % of assets · FY to 2026-03-31(profit after tax − operating cash flow) / average total assets
Inputs: profit after tax ₹40 Cr (2026-03-31) · operating cash flow ₹-41 Cr (2026-03-31) · total assets ₹823 Cr (2026-03-31) · total assets ₹688 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.