NSE: CRAVATEX · BSE: 509472
CRAVATEX LTD.
A BSE-listed trading and distribution business in India's services sector, classified as Trading & Distributors. The most recent FY26 disclosure describes the company as operating in one business segment, against older FY23 data that split operations into a Sports segment (98% of segment revenue) and a Wellness segment (1.7%). The company holds two wholly-owned subsidiaries — BB (UK) Limited and BB Europe GmbH — suggesting an international footprint. Employee costs run at 21.5% of revenue and other operating expenses at 32.4%, with depreciation at 1% and no separate materials cost line, pointing to a service-led cost base. Capex was 0.3% of revenue in FY26, indicating a light asset base. The Board has recommended a final dividend of Rs 13 per share (130% on face value of Rs 10) for FY26, subject to shareholder approval. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Sports (FY23 segment data) (98%), Wellness (FY23 segment data) (2%). Asset-light trading and distribution business with international subsidiaries
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 594 | 504 | 203 | 174 | 151 |
| EBITDA (ex other income) | 1 | 75 | (8) | (2) | (6) |
| margin % | 0.2 | 15.0 | (3.8) | (1.0) | (4.2) |
| Owners' profit | (20) | 59 | 5 | 5 | 7 |
| EPS, as reported (₹) | (76.96) | 228.05 | 18.68 | 18.68 | 26.30 |
| ROE % · ROCE % | (78.1) · (3.2) | 63.8 · 76.3 | 4.9 · 6.4 | 4.5 · 6.2 | 5.7 · 7.3 |
| Debt / equity (x) | 6.56 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (8) | 144 | 19 | 3 | 1 |
| Capex | (2) | 0 | (1) | (2) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 26 | 55 | 32 | 61 | 23 | 51 | 37 | 40 |
| Profit before tax | 1 | 4 | (0) | 2 | (1) | 6 | 2 | 2 |
| Net profit | 0 | 3 | 0 | 1 | (1) | 5 | 1 | 2 |
| EPS (₹) | 1.87 | 10.26 | 0.97 | 5.59 | (5.29) | 20.18 | 5.21 | 6.19 |
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. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 27,525 | 16.2 | 2.64 | 12.8 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,740 | 17.3 | 3.65 | 16.5 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,896 | 16.6 | 4.31 | 11.3 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,653 | 25.4 | 4.27 | 19.0 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,104 | — | 12.27 | — | (0.0) | (0.0) | — | 45.0 |
| SHIV AUM STEELS LIMITED | 736 | 64.8 | 6.09 | 47.0 | 6.0 | 6.9 | — | 4.9 |
| The Yamuna Syndicate Ltd | 736 | 8.1 | 0.57 | 185.3 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 602 | 0.9 | — | 51.0 | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.4 | 13.9 | 58 of 130 | 56% |
| P/B | 0.7 | 0.9 | 61 of 150 | 59% |
| ROCE | 7.0 | 2.1 | 54 of 177 | 70% |
| ROE | 5.7 | 2.3 | 57 of 158 | 64% |
| Debt / Equity | 0.0 | 0.1 | 1 of 154 | 73% |
| EBITDA margin | 6.8 | 4.5 | 56 of 137 | 60% |
| Revenue growth | (34.7) | (8.6) | 87 of 135 | 36% |
| Profit growth | 10.9 | 0.6 | 73 of 157 | 54% |
| Market cap | 84 | 21 | 43 of 179 | 76% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 7 Oct 2026 · Quarterly Reg 74(5) compliance certificate filed with BSE | compliance | minimal | — | — |
| 21 Sept 2026 · Special window for physical securities transfer and dematerialisation | compliance | minimal | — | — |
| 13 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 12 Aug 2026 · Cravatex Q1 FY27: consolidated revenue up 39%, swings to profit | results | high | — | — |
| 12 Aug 2026 · Cravatex Q1 FY27 results: standalone weak, consolidated improves | results | medium | — | — |
| 4 Aug 2026 · Board meeting on 12 Aug 2026 to consider Q1 FY27 results | results | low | — | — |
| 3 Aug 2026 · Cravatex 74th AGM: All 3 resolutions passed, Rs 13 dividend declared | board shareholder meetings | low | — | — |
| 31 Jul 2026 · 74th AGM held on 31 Jul 2026; final dividend of Rs 13 per share declared | board shareholder meetings | low | — | — |
| 8 Jul 2026 · Routine compliance certificate for Q1 FY27 share dematerialisation | 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.