BSE: 500246
ENVAIR ELECTRODYNE LTD.
Operates as a single-segment industrial machinery business listed on BSE (Scrip Code 500246). Total income from operations was Rs 53.76 lakhs in FY26, down from Rs 76.99 lakhs in FY25, but the company swung to a profit after tax of Rs 10.75 lakhs from a Rs 46.53 lakh loss the prior year, supported by interest income of Rs 41.70 lakhs on its fixed deposits. Total assets stood at Rs 863.96 lakhs, of which Rs 614.26 lakhs were held in fixed deposits, and the company is debt-free with paid-up equity capital of Rs 4.64 crore. It is exploring diversification — it received in-principle approval from IPICOL for a Copper Clad Laminate (CCL) manufacturing project in Odisha with planned capacity of 31.20 lakh sq.mtr per annum (CCL is the base material for printed circuit boards), but withdrew the application after project costs rose to Rs 219.67 crore from Rs 136.87 crore. Management has also approved the sale of its 19.33% stake in Singapore-based Alliance Asia Pac Pte. Ltd. — a holding entity for an Indonesian soap plant that supplies Unilever — to the promoters for around Rs 2.12 crore. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Industrial Machinery. Very small, single-segment industrial machinery company with negligible operating revenue, debt-free balance sheet dominated by bank fixed deposits, and management actively seeking a new manufacturing or trading direction.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5 | 1 | 0 | 0 | 0 |
| EBITDA (ex other income) | (1) | 7 | (1) | (1) | (0) |
| margin % | (18.4) | 752.9 | (338.7) | — | — |
| Owners' profit | (1) | 6 | (1) | (0) | 0 |
| EPS, as reported (₹) | (1.67) | 13.11 | (1.76) | 1.00 | 0.23 |
| ROE % · ROCE % | (31.3) · (15.3) | 71.4 · 91.4 | (10.6) · (13.5) | (5.6) · 2.1 | 1.3 · 1.4 |
| Debt / equity (x) | 1.12 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (2) | (4) | 6 | (0) | (0) |
| Capex | 0 | 0 | 0 | 0 | 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 0 | (0) | 0 | 0 | 0 | (0) |
| Net profit | 0 | 0 | (1) | (0) | 0 | 0 | 0 | (0) |
| EPS (₹) | 0.30 | 0.52 | (1.32) | (0.50) | 0.28 | 0.16 | 0.04 | (0.25) |
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. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 200.7 | 26.7 | 123 of 130 | 5% |
| P/B | 2.6 | 3.1 | 53 of 112 | 53% |
| ROCE | 1.4 | 11.3 | 121 of 142 | 15% |
| ROE | 1.3 | 9.8 | 100 of 113 | 12% |
| Debt / Equity | 0.0 | 0.2 | 1 of 113 | 80% |
| Profit growth | 50.5 | 17.1 | 43 of 109 | 61% |
| Market cap | 21 | 273 | 124 of 141 | 12% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 19 Oct 2026 · Non-Applicability of Related Party Transaction Disclosure Under SEBI LODR | compliance | minimal | — | — |
| 5 Oct 2026 · Routine demat compliance certificate filed for quarter ended Sept 2026 | compliance | minimal | — | — |
| 1 Oct 2026 · Envair Electrodyne 44th AGM: All 3 resolutions passed | board shareholder meetings | low | — | — |
| 29 Sept 2026 · 44th AGM concluded - 3 ordinary resolutions tabled | board shareholder meetings | low | — | — |
| 21 Sept 2026 · Postal ballot passed: sale of Singapore overseas investment approved | strategic transactions | medium | — | — |
| 21 Sept 2026 · Postal ballot result: Envair shareholders approve sale of Singapore investment | strategic transactions | medium | — | — |
| 21 Sept 2026 · Trading window closed from Oct 1 for Q2 results declaration | compliance | minimal | — | — |
| 6 Sept 2026 · Notice of 44th AGM published in newspapers, e-voting details | compliance | minimal | — | — |
| 5 Sept 2026 · Envair Electrodyne 44th AGM notice - 29 Sep 2026 via video conferencing | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Envair Electrodyne 44th AGM notice and annual report for FY26 | 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.