Allotment of 1022627 securities pursuant to Preferential Issue at its meeting held on September 25, 2026
Ask the chart: “Has this stock recovered from similar drawdowns before?”
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Latest filings
NSE announcements · newest firstVoting results of Annual General Meeting held on September 24, 2026
Shareholders meeting
Proceedings of Annual General Meeting held on September 24, 2026
Investor Presentation
Key MetricsFull financials →
P/E (TTM)
78.4×
EPS ₹1.51
P / Book
1.30×
BVPS ₹91
ROE
1.5%
FY26, avg equity
Net margin
0.8%
FY26
Revenue YoY
−18.7%
Q1 FY27
Net profit YoY
−38.7%
Q1 FY27
Debt / equity
0.73×
₹122 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 |
|---|---|---|---|---|
| REDTAPE₹6,692 Cr | 27.2× | 6.55× | 26.6% | 9.9% |
| CAMPUS₹6,417 Cr | 41.7× | 7.08× | 18.1% | 8.5% |
| SREEL₹691 Cr | 21.1× | 1.39× | 6.0% | 11.6% |
| LIBERTSHOE₹402 Cr | 47.0× | 1.72× | 4.9% | 1.5% |
| KHADIM₹217 Cr | 78.4× | 1.30× | 1.5% | 0.8% |
| KSR₹71 Cr | – | 0.94× | -16.9% | -6.4% |
Footwear: the companies closest in market value, of the 9 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
Profit before interest and tax covers finance costs 1.2×
FY26.
Other income is 216% of profit before tax
FY26.
Debt to equity is 0.73×
As at 2026-03-31; it was 0.53× at 2023-03-31.
Exceptional items above 5% of pre-tax profit in 1 of the last 5 years
FY22–FY26.
Effective tax rate averaged 18%
Tax over pre-tax profit, last 3 years. The base corporate rate is about 25%.
9 checks within their thresholds
Operating cash flow was 5.59× net profit
Cumulative over FY22–FY26 (5 years).
Free cash flow was negative in 0 of the last 5 years
Operating cash flow less capital expenditure, as filed.
Receivables grew -16% against revenue growth of -12%
FY26: debtor days moved from 193 to 185.
Inventory grew -41% against revenue growth of -12%
FY26: inventory days moved from 189 to 128.
Share count changed +2.3% 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.
Promoter holding is 59.89%, +0.04 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 50 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.
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: 0.41 — profit after tax over the year's opening total assets, %
- ✓ Operating cash flow positive: 25.7 — ₹ crore
- ✓ Cash flow above profit (accruals): 22.6 — operating cash flow less profit after tax, ₹ crore
- ✗ Return on assets improved: -0.28 — change in ROA, percentage points
- ✗ Long-term borrowings to assets fell: 1.11 — change in long-term borrowings over total assets, percentage points
- ✗ Current ratio improved: -0.05 — change in current assets over current liabilities
- ✓ No new shares issued: 0 — change in share capital, %
- ✓ Gross margin improved: 0.51 — revenue less material cost over revenue, change in percentage points
- ✗ Asset turnover improved: -0.089 — revenue over the year's opening total assets, change
Inputs: profit after tax ₹3 Cr (2026-03-31) · profit after tax ₹5 Cr (2025-03-31) · total assets ₹547 Cr (2026-03-31) · total assets ₹761 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: 1.83 · 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: 0.185 × 1.2
- retained earnings / total assets: 0.272 × 1.4 — reserves and surplus as retained earnings
- EBIT / total assets: 0.057 × 3.3 — profit before tax plus finance cost
- market value of equity / total liabilities: 0.607 × 0.6 — market capitalisation over total assets less equity
- sales / total assets: 0.672 × 1
Inputs: total assets ₹547 Cr (2026-03-31) · current assets ₹357 Cr (2026-03-31) · current liabilities ₹256 Cr (2026-03-31) · reserves ₹149 Cr (2026-03-31) · total equity ₹167 Cr (2026-03-31) · profit before tax ₹5 Cr (2026-03-31) · finance cost ₹26 Cr (2026-03-31) · revenue ₹367 Cr (2026-03-31) · market capitalisation (today) ₹231 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: 58.76 ₹ 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: 1.69
- book value per share: 90.81 — owners' equity over shares (paid-up capital / face value)
Inputs: earnings per share 1.69 (2026-03-31) · owners' equity ₹167 Cr (2026-03-31) · paid-up capital ₹18 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: -3.46 % of assets · FY to 2026-03-31(profit after tax − operating cash flow) / average total assets
Inputs: profit after tax ₹3 Cr (2026-03-31) · operating cash flow ₹26 Cr (2026-03-31) · total assets ₹547 Cr (2026-03-31) · total assets ₹761 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.