NSE: AMBICAAGAR · BSE: 532335
AMBICA AGAR & AROMAINDLTD
The company runs two divisions: an Agarbathies (incense sticks) business and a Hotel business. For FY26, the Agarbathies division brought in Rs. 115.84 crore of revenue, making up 77.5% of segment revenue, while the Hotel division contributed Rs. 33.70 crore (22.5%). The agarbathies business is the main profit centre, with segment EBIT of Rs. 6.11 crore, whereas the Hotel division ran a segment EBIT loss of Rs. 1.08 crore. The largest disclosed cost line is other operating expenses at 16.1% of revenue, followed by materials at 14.3% and employee costs at 6.7%. The balance sheet is highly leveraged, with total borrowings of approximately Rs. 8,845 lakhs and finance costs of Rs. 1,127.01 lakhs. Headquartered in Eluru, Andhra Pradesh, it is classified under household products within FMCG and is listed on both the NSE and BSE. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Agarbathies Division (78%), Hotel Division (23%). Two-division FMCG household products and hospitality business with a leveraged balance sheet
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 116 | 117 | 98 | 124 | 141 |
| EBITDA (ex other income) | 14 | 7 | 4 | 10 | 10 |
| margin % | 12.0 | 6.3 | 3.9 | 8.3 | 7.2 |
| Owners' profit | 2 | 3 | (4) | 0 | 3 |
| EPS, as reported (₹) | 1.40 | 1.47 | (2.13) | 4.66 | 2.01 |
| ROE % · ROCE % | 2.4 · 6.2 | 2.4 · 5.8 | (3.6) · 3.9 | 0.4 · 7.0 | 3.1 · 7.9 |
| Debt / equity (x) | 0.63 | 0.60 | 0.66 | 0.69 | 0.78 |
| Cash from operations | 16 | 8 | 5 | 1 | (7) |
| Capex | 0 | 0 | (3) | (9) | (1) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 34 | 36 | 31 | 30 | 35 | 54 | 22 | 25 |
| Profit before tax | 1 | 1 | (1) | 2 | 1 | 1 | 1 | 1 |
| Net profit | 1 | 0 | (2) | 1 | 1 | 1 | 1 | 1 |
| EPS (₹) | 0.54 | 0.22 | 3.25 | 0.66 | 0.54 | 0.65 | 0.15 | 0.64 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Agarbathies Division | 116 | 77.5 |
| Hotel Division | 34 | 22.5 |
| Total, before eliminations | 150 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| JYOTHY LABS LIMITED | 6,885 | 18.6 | 3.36 | 12.4 | 18.1 | 22.4 | 10.7 | 18.5 |
| EVEREADY INDS. IND. LTD. | 2,355 | 13.2 | 3.78 | 11.7 | 27.5 | 21.4 | 3.1 | 15.1 |
| HIGH ENERGY BATTERIES (INDIA) | 493 | 32.0 | 4.42 | — | 13.8 | 18.0 | — | 37.3 |
| INDO-NATIONAL LIMITED | 233 | — | 0.76 | — | (8.7) | (7.8) | (3.2) | 0.9 |
| PANASONIC ENERGY INDIA COMPANY | 182 | 52.1 | 1.76 | — | 3.4 | 5.2 | — | 5.9 |
| PEE CEE COSMA SOPE LTD. | 123 | 15.0 | 2.19 | 9.2 | 14.8 | 19.7 | — | 4.0 |
| YUVRAAJ HYGIENE PRODUCTS LTD. | 83 | 18.3 | 18.54 | — | 74.0 | 21.6 | — | 16.1 |
| AMBICA AGAR & AROMAINDLTD ◆ | 40 | 11.8 | 0.36 | — | 3.1 | 2.4 | — | 20.9 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 11.8 | 18.4 | 1 of 8 | 100% |
| P/B | 0.4 | 2.8 | 1 of 10 | 100% |
| ROCE | 2.4 | 11.6 | 7 of 10 | 33% |
| ROE | 3.1 | 8.6 | 7 of 10 | 33% |
| Debt / Equity | 0.8 | 0.1 | 8 of 10 | 22% |
| EBITDA margin | 20.9 | 10.5 | 2 of 10 | 89% |
| Revenue growth | (18.2) | 7.1 | 9 of 10 | 0% |
| Profit growth | (2.7) | 34.8 | 8 of 10 | 22% |
| Market cap | 40 | 152 | 8 of 10 | 22% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 29 Sept 2026 · AGM 2026 held, all 3 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading window closed ahead of Q2 results | compliance | minimal | — | — |
| 4 Sept 2026 · 31st AGM notice: FY26 PAT jumps to Rs 344.74 lakh, no dividend | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Ambica Agarbathies files 31st Annual Report for FY26, AGM on Sept 29 | compliance | low | — | — |
| 31 Aug 2026 · Promoter group acquires 4.71% stake in Ambica Agarbathies | ownership changes | high | — | — |
| 25 Aug 2026 · Board approves preferential allotment to promoter group, fixes AGM date | fund raising | high | — | — |
| 7 Aug 2026 · Board meeting postponed from 12 Aug to 14 Aug 2026 | results | low | — | — |
| 17 Jul 2026 · RTA confirms no demat or remat requests in Q1 FY27 | compliance | minimal | — | — |
| 1 Jul 2026 · EGM approves preferential issue of 8.48 lakh equity shares | board shareholder meetings | medium | — | — |
| 30 Jun 2026 · EGM approves issue of 8.48 lakh shares on preferential basis | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.