	BSE	NSE
Last Price()	455.95 Oct 22,2026 EOD	464.50 Oct 22,2026 EOD
Today's Change( )	-23.95 (-4.99%)	-6.40 (-1.36%)
Open( )	456.65	469.80
Prev Close( )	479.90	470.90
Volume	737.00	7,446.00
Today's Range( )	469.70 - 455.95	469.80 - 451.10
52-Week Range( )	680.00 - 317.65	677.70 - 316.00
Buy (Size)	N.A	N.A
Sell (Size)	N.A	N.A

Company Background

Incorporation Year	2018
Registered Office	Plot No 801 801/23,GIDC Estate Phase III Vapi, Valsad, Gujarat-396195
Telephone	022-67976666/6616
Fax	022-25653234
Chairman	Mulesh Manilal Savla
Managing Director	Nikhil P Desai
Company Secretary	Priyanka Chaurasia
Auditor	Gokhale & Sathe
Face Value	10
Market Lot	1
Listing	BSE,MSEI ,NSEBSE,MSEI ,NSE
Registrar	MUFG Intime India Pvt Ltd C-101 247 Park,L B S Marg,Vikhroli West,Mumbai-400083

Board of Directors

Board Of Directors
Chairman & Independent Directo	Mulesh Manilal Savla
ED / MD / CEO / Promoter	Nikhil P Desai
Non-Exec & Non-Independent Dir	Chandrakant V Gogri Dattatray Sidram Galpalli
Independent Non Exe. Director	Misha B Gala
E D & Wholetime Director	Santosh M Kakade
Non Executive Director	Parimal H Desai Nisha Shah
Company Sec. & Compli. Officer	Priyanka Chaurasia

Balance Sheet

Particulars (Sources Of Funds)	Mar 2026 ( Cr)	Mar 2025 ( Cr)	Mar 2024 ( Cr)	Mar 2023 ( Cr)	Mar 2022 ( Cr)	Mar 2021 ( Cr)
Share Capital	31.52	30.79	30.06	28.81	27.73	27.00
Reserves Total	238.37	225.74	210.78	160.18	128.35	125.08
Equity Share Warrants	0.00	0.00	0.00	0.00	0.00	0.00
Equity Application Money	0.00	0.00	0.00	0.00	0.00	0.00
Total Shareholders Funds	269.89	256.53	240.84	188.99	156.08	152.08
Secured Loans	79.85	86.41	75.63	128.26	141.37	132.52
Unsecured Loans	1.28	1.66	1.98	0.00	0.00	0.00
Total Debt	81.13	88.07	77.61	128.26	141.37	132.52
Other Liabilities	11.44	10.43	7.55	5.65	0.00	0.00
Total Liabilities	362.46	355.03	326.00	322.90	297.45	284.60
APPLICATION OF FUNDS :
Gross Block	336.76	323.08	310.28	294.47	247.70	267.55
Less : Accumulated Depreciation	139.18	121.73	104.61	90.50	75.01	80.81
Less:Impairment of Assets	0.00	0.00	0.00	0.00	0.00	0.00
Net Block	197.58	201.35	205.67	203.97	172.69	186.74
Lease Adjustment	0.00	0.00	0.00	0.00	0.00	0.00
Capital Work in Progress	43.79	13.25	6.53	6.58	47.59	19.74
Producing Properties	0.00	0.00	0.00	0.00	0.00	0.00
Investments	5.91	5.75	5.25	4.75	0.01	0.01
Current Assets, Loans & Advances
Inventories	118.64	134.33	99.21	77.33	74.82	73.19
Sundry Debtors	104.65	76.26	70.11	65.36	54.47	54.43
Cash and Bank Balance	13.29	1.07	6.22	7.68	1.41	6.73
Loans and Advances	24.86	39.98	23.84	31.92	48.77	41.04
Total Current Assets	261.44	251.63	199.37	182.29	179.47	175.39
Less : Current Liabilities and Provisions
Current Liabilities	133.52	100.40	73.83	63.84	83.89	88.82
Provisions	2.53	3.31	5.73	2.32	8.93	4.19
Total Current Liabilities & Provisions	136.04	103.71	79.56	66.16	92.82	93.01
Net Current Assets	125.40	147.92	119.81	116.12	86.65	82.38
Miscellaneous Expenses not written off	0.00	0.00	0.00	0.00	0.00	0.00
Deferred Tax Assets	0.76	0.54	0.42	0.29	0.00	0.00
Deferred Tax Liability	20.73	20.45	18.26	14.88	12.08	8.92
Net Deferred Tax	-19.97	-19.91	-17.84	-14.59	-12.08	-8.92
Other Assets	9.76	6.67	6.59	6.06	2.60	4.65
Total Assets	362.47	355.03	326.01	322.89	297.46	284.61
Contingent Liabilities	11.67	11.86	12.64	12.60	11.84	11.56

Profit and Loss

Particulars(INCOME)	Mar 2026 ( Cr)	Mar 2025 ( Cr)	Mar 2024 ( Cr)	Mar 2023 ( Cr)	Mar 2022 ( Cr)	Mar 2021 ( Cr)
Sales Turnover	859.13	659.09	589.86	601.29	575.52	465.77
Excise Duty	0.00	0.00	0.00	0.00	0.00	0.00
Net Sales	859.13	659.09	589.86	601.29	575.52	465.77
Other Income	0.33	7.68	0.13	0.33	0.29	0.06
Stock Adjustments	-2.16	8.30	-0.72	-6.24	7.33	4.77
Total Income	857.30	675.07	589.27	595.38	583.14	470.60
EXPENDITURE :
Raw Materials	720.94	542.61	445.83	468.10	462.87	356.15
Power & Fuel Cost	17.22	16.52	15.97	15.24	13.18	13.88
Employee Cost	23.57	20.13	17.89	16.84	17.99	15.70
Other Manufacturing Expenses	22.43	21.21	24.05	21.27	22.24	23.82
Selling & Administrative Expenses	24.96	24.18	21.45	25.63	34.26	15.27
Miscellaneous Expenses	0.86	0.60	0.93	0.22	0.15	0.20
Less : Pre-operative Expenses Capitalised	0.00	0.00	0.00	0.00	0.00	0.00
Total Expenditure	809.98	625.25	526.13	547.30	550.69	425.03
Operating Profit	47.32	49.81	63.14	48.08	32.44	45.57
Interest	12.31	11.55	14.03	14.79	10.67	10.44
Gross Profit	35.01	38.26	49.11	33.29	21.77	35.13
Depreciation	17.46	17.12	15.98	15.49	12.45	12.21
Profit Before Tax	17.55	21.14	33.13	17.80	9.32	22.92
Tax	4.83	4.08	7.60	2.60	0.66	0.50
Fringe Benefit tax	0.00	0.00	0.00	0.00	0.00	0.00
Deferred Tax	0.05	2.08	3.26	2.50	3.17	0.78
Reported Net Profit	12.68	14.99	22.27	12.71	5.50	21.64
Extraordinary Items	0.03	5.43	0.00	0.00	0.00	0.00
Adjusted Net Profit	12.65	9.56	22.27	12.71	5.50	21.64
Adjustment below Net Profit	0.05	-0.17	-0.24	-0.33	0.05	0.07
P & L Balance brought forward	177.57	162.75	140.73	128.35	125.08	103.37
Statutory Appropriations	0.00	0.00	0.00	0.00	0.00	0.00
Appropriations	0.85	0.00	0.00	0.00	2.28	0.00
P & L Balance carried down	189.45	177.57	162.75	140.73	128.35	125.08
Dividend	0.00	0.00	0.00	0.00	0.00	0.00
Preference Dividend	0.00	0.00	0.00	0.00	0.00	0.00
Equity Dividend %	10.00	10.00	0.00	0.00	0.00	30.00
Dividend Per Share(Rs)	1.00	1.00	0.00	0.00	0.00	3.00
Earnings Per Share-Unit Curr	14.96	17.71	26.30	16.01	7.25	28.53
Earnings Per Share(Adj)-Unit Curr	14.96	17.71	26.30	16.01	7.14	28.10
Book Value-Unit Curr	291.35	276.65	258.98	211.70	179.23	174.91
Book Value(Adj)-Unit Curr	291.35	276.65	258.98	211.70	176.53	172.28

Quarterly Results

Quarters:

Particulars	Jun 2026 ( Cr)	Mar 2026 ( Cr)	Dec 2025 ( Cr)
Gross Sales	272.87	256.28	207.79
Other Operating Income	0.00	0.00	0.00
Other Income	0.17	0.19	0.04
Total Income	273.04	256.47	207.83
Total Expenditure	252.56	243.04	195.08
PBIDT	20.47	13.42	12.75
Interest	3.52	3.06	3.16
PBDT	16.96	10.36	9.59
Depreciation	4.69	4.40	4.42
Tax	3.12	1.51	1.57
Fringe Benefit Tax	0.00	0.00	0.00
Deferred Tax	0.07	0.18	-0.13
Reported Profit After Tax	9.08	4.26	3.73
Extra-ordinary Items	0.00	0.00	0.00
Adjusted Profit After Extra-ordinary item	9.08	4.26	3.73
EPS (Unit Curr.)	10.72	5.04	4.40
EPS (Adj) (Unit Curr.)	10.72	5.04	4.40
Calculated EPS (Unit Curr.)	10.70	5.03	4.40
Calculated EPS (Adj) (Unit Curr.)	10.70	5.03	4.40
Calculated EPS (Ann.) (Unit Curr.)	42.80	20.13	17.60
Calculated EPS (Adj) (Ann.) (Unit Curr.)	42.80	20.13	17.60
Book Value (Unit Curr.)	0.00	0.00	0.00
Dividend (%)	0.00	0.00	0.00
Equity	8.48	8.47	8.47
Reserve & Surplus	0.00	0.00	0.00
Face Value	10.00	10.00	10.00
Public Shareholding (No. Of Shares)	0.00	0.00	0.00
Public Shareholding (% in Equity)	0.00	0.00	0.00
Pledged/Encumbered - No. of Shares	0.00	0.00	0.00
Pledged/Encumbered - % in Total Promoters Holding	0.00	0.00	0.00
Pledged/Encumbered - % in Total Equity	0.00	0.00	0.00
Non Encumbered - No. of Shares	0.00	0.00	0.00
Non Encumbered - % in Total Promoters Holding	0.00	0.00	0.00
Non Encumbered - % in Total Equity	0.00	0.00	0.00
PBIDTM(%)	7.50	5.24	6.14
PBDTM(%)	6.22	4.04	4.62
PATM(%)	3.33	1.66	1.80

Financial Ratios

Particulars	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Debt-Equity Ratio	0.32	0.33	0.48	0.78	0.89
Long Term Debt-Equity Ratio	0.05	0.07	0.19	0.40	0.47
Current Ratio	1.21	1.28	1.26	1.14	1.06
Fixed Assets	2.60	2.08	1.95	2.22	2.23
Inventory	6.79	5.64	6.68	7.90	7.78
Debtors	9.50	9.01	8.71	10.04	10.57
Interest Cover Ratio	2.43	2.47	3.36	2.20	1.87
PBIDTM (%)	5.51	6.92	10.70	8.00	5.64
PBITM (%)	3.48	4.32	8.00	5.42	3.47
PBDTM (%)	4.08	5.17	8.33	5.54	3.78
CPM (%)	3.51	4.05	6.48	4.69	3.12
APATM (%)	1.48	1.45	3.78	2.11	0.96
ROCE (%)	8.33	8.37	14.54	10.51	6.87
RONW (%)	5.27	4.22	11.50	8.36	4.10

Share Price

Year	High ()	Low ()	Close ()	P/E High	P/E Low	P/E Close	Mkt Cap.( In Cr.)
Sep 2026	559.90	481.10	498.55	38.68	31.52	33.38	422.32
Aug 2026	680.00	459.00	520.55	49.40	29.20	34.86	440.95
Jul 2026	412.00	365.35	402.65	29.51	24.11	26.96	341.08
Jun 2026	399.00	355.30	376.85	27.66	23.66	25.24	319.23
May 2026	464.00	380.85	388.80	31.32	24.51	26.02	329.12
Apr 2026	426.60	320.00	411.90	30.56	19.68	27.56	348.67
Mar 2026	397.45	317.65	321.40	27.37	21.01	21.51	272.06
Feb 2026	454.80	396.15	405.25	40.76	34.18	35.88	343.04
Jan 2026	490.05	358.05	414.90	49.46	31.41	36.74	351.21
Share Prices Of 2025
Dec 2025	435.95	382.00	388.65	39.28	32.64	34.41	328.99
Nov 2025	516.10	422.60	433.75	48.02	37.10	38.38	366.89
Oct 2025	499.60	447.00	476.00	44.84	36.60	42.12	402.62
Sep 2025	510.80	450.00	462.90	45.85	38.90	40.96	391.54
Aug 2025	567.70	450.05	461.70	50.52	38.96	40.85	390.53
Jul 2025	589.95	515.05	569.95	53.24	42.90	50.43	482.09
Jun 2025	600.00	525.00	563.10	54.08	45.90	49.82	476.30
May 2025	651.00	418.10	558.95	60.91	35.92	49.45	472.79
Apr 2025	470.00	388.40	438.55	42.42	32.71	38.80	370.95
Mar 2025	482.70	400.00	400.95	44.24	35.19	35.48	339.14
Feb 2025	619.25	424.00	428.30	24.26	15.94	16.27	362.28

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