BSE: 530187
ATHARV ENTERPRISES LTD.
Reports a single operating segment — knitting job work — taking on contract knitting for textile buyers. For FY26, total income of Rs 384.92 lakhs was dominated by other operating income (Rs 336.59 lakhs), while revenue from operations remained small (Rs 10.93 lakhs in the following quarter). Profit after tax came in at Rs 18.58 lakhs in FY26, against Rs 19.26 lakhs in FY25. The identity is classified as a Non Banking Financial Company under Financial Services, though the board's own segment disclosure describes knitting job work. Balance-sheet non-current assets stood at Rs 2,785.48 lakhs at FY26, driven largely by loans and advances. Operating scale is very small for a BSE-listed entity, and it confirmed it does not qualify as a Large Corporate under SEBI rules as of 31 March 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Knitting job work, Other operating income. Very small-cap, single-segment entity classified as NBFC but reporting knitting job work
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 1 | 8 | 0 | 0 |
| EBITDA (ex other income) | (1) | (1) | (3) | (3) | (3) |
| margin % | (3516.1) | (169.3) | (32.6) | (989.6) | (611.8) |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 0.02 | 0.01 | 0.01 | 0.11 | 0.00 |
| ROE % · ROCE % | 0.2 · 0.5 | 0.6 · 0.9 | 0.9 · 1.3 | 1.0 · 1.4 | 0.9 · 1.4 |
| Debt / equity (x) | 0.02 | 0.02 | 0.01 | 0.01 | 0.02 |
| Cash from operations | 3 | 3 | (2) | 2 | 5 |
| Capex | 0 | (0) | 0 | 0 | (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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.00 | 0.00 | 0.03 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 5,70,768 | 28.1 | 4.88 | — | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 1,94,820 | 14.6 | 2.96 | — | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,31,798 | 22.8 | 4.33 | — | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,31,209 | 24.0 | 2.79 | — | 10.4 | — | — | 75.8 |
| MUTHOOT FINANCE LIMITED | 96,352 | 8.5 | 2.42 | — | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 50,202 | 22.1 | 3.19 | — | 13.8 | — | — | 33.1 |
| SUNDARAM FINANCE LTD | 43,766 | 19.6 | 2.94 | — | 13.8 | — | — | 78.4 |
| AUTHUM INVEST & INFRA LTD | 42,040 | 7.2 | 2.85 | — | 13.1 | — | — | 90.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.4 | 1.1 | 35 of 253 | 85% |
| ROCE | 1.2 | 2.0 | 37 of 59 | 38% |
| ROE | 0.9 | 3.1 | 176 of 257 | 32% |
| Debt / Equity | 0.0 | 0.0 | 31 of 53 | 42% |
| EBITDA margin | 100.9 | 48.6 | 21 of 249 | 92% |
| Revenue growth | (58.6) | 12.6 | 201 of 231 | 13% |
| Profit growth | 7.3 | 7.8 | 127 of 251 | 50% |
| Market cap | 8 | 34 | 231 of 268 | 14% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board meeting moved to October 30 for September quarter results | results | low | — | — |
| 22 Oct 2026 · Board meeting on 27 Oct to consider Q2 FY27 results | results | low | — | — |
| 12 Oct 2026 · Non-promoter Pramod Gadiya exits 0.2 percent stake in Atharv Enterprises | ownership changes | low | — | — |
| 12 Oct 2026 · Non-promoter Vandana Gadia acquires 18.4% stake in Atharv Enterprises via open market | ownership changes | medium | — | — |
| 10 Oct 2026 · Non-promoter Bhumi Gadia fully sells 4.43 percent stake via open market | ownership changes | high | — | — |
| 7 Oct 2026 · RTA certificate for Q2 FY26-27 dematerialization filed with BSE | compliance | minimal | — | — |
| 30 Sept 2026 · Atharv Enterprises AGM: All 8 resolutions approved | compliance | minimal | — | — |
| 29 Sept 2026 · 36th AGM held; 8 resolutions approved including MD reappointment and pay hikes | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Trading window closure for Q2 and H1 FY27 results | compliance | minimal | — | — |
| 3 Sept 2026 · Atharv Enterprises publishes newspaper ad for 36th AGM notice | compliance | minimal | — | — |
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.