BSE: 531155
EPSOM PROPERTIES LTD.
Classified under the Realty sector for residential and commercial projects, the company has reported zero revenue from operations across FY24, FY25 and FY26, and recorded zero revenue and zero other income in every quarter of FY26. The profit and loss contains only employee benefit expenses and other administrative expenses, producing a net loss of Rs. 34.32 lakhs for FY26, marginally wider than the Rs. 34.12 lakhs loss in FY25 and a Rs. 37.93 lakhs loss in FY24. The balance sheet is under severe stress: total assets of Rs. 11.55 lakhs sit against borrowings of Rs. 206.61 lakhs, leaving total equity at negative Rs. 195.73 lakhs and cash reserves at just Rs. 0.23 lakhs. Filings describe the entity as having "undertaken no commercial activity", with the board stating it is examining ways to commence business. Operating expenses consist solely of employee costs (for instance, Rs. 2.10 lakhs of employee benefit expense in Q3 FY26, against the Whole-time Director's monthly remuneration of Rs. 25,000) and small other expenses, with negative operating cash flow of Rs. 13.49 lakhs reported for H1 FY26. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Operations. Dormant realty shell with negative equity and no operating activity.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| EBITDA (ex other income) | (0) | (0) | (0) | (0) | (0) |
| margin % | — | — | — | — | — |
| Owners' profit | (0) | (0) | (0) | (0) | (0) |
| EPS, as reported (₹) | (0.12) | (0.09) | (0.05) | (0.05) | (0.04) |
| ROE % · ROCE % | 56.7 · (617.6) | 35.6 · (510.3) | 29.8 · (427.1) | 21.1 · (234.0) | 17.5 · (197.2) |
| Debt / equity (x) | (1.09) | (1.07) | (1.07) | (1.06) | (1.06) |
| Cash from operations | (0) | (0) | (0) | (0) | (0) |
| Capex | 0 | 0 | 0 | 0 | 0 |
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 (₹) | (0.01) | (0.01) | (0.02) | (0.01) | 0.01 | 0.01 | (0.02) | (0.02) |
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. % |
|---|---|---|---|---|---|---|---|---|
| KESAR INDIA LIMITED | 3,089 | 82.0 | 12.40 | 67.0 | 12.0 | 15.2 | — | 26.9 |
| MEGHNA INFRACON INFRA L | 1,460 | 215.4 | 54.28 | 143.3 | 20.8 | 33.9 | — | 15.3 |
| India Homes Limited | 1,015 | — | 27.41 | — | (31.0) | (17.8) | — | — |
| B-RIGHT REALESTATE LIMITED | 954 | 26.6 | — | — | — | 19.2 | — | — |
| SHRADDHA PRIME PROJECTS L | 666 | 11.9 | 4.88 | 11.3 | 39.1 | 20.2 | — | 16.1 |
| YOGI LTD. | 656 | 31.5 | 4.61 | 25.6 | 14.9 | 15.6 | — | 5.1 |
| HAZOOR MULTI PROJECTS LTD | 409 | 5.5 | 0.66 | 3.1 | 6.8 | 5.8 | — | 86.5 |
| RDB INFRASTRUCTURE AND POWER L | 340 | 17.3 | 1.28 | 21.5 | 4.7 | 5.7 | 16.3 | 23.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| ROCE | (315.4) | 1.9 | 88 of 88 | 0% |
| Profit growth | (45.0) | (48.8) | 37 of 79 | 54% |
| Market cap | 7 | 30 | 77 of 88 | 13% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 22 Oct 2026 · Q2 FY27 Results: Loss Widens, Negative Operating Cash Flow Continues | results | high | — | — |
| 22 Oct 2026 · Board approves Q2 and H1 FY26 unaudited results | results | high | — | — |
| 15 Oct 2026 · Board meeting on 22 Oct 2026 to consider Q2/H1 FY27 results | results | low | — | — |
| 12 Oct 2026 · Compliance Certificate under SEBI Regulation 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading Window Closed From October 1, 2026 For Q2 Results | compliance | minimal | — | — |
| 2 Sept 2026 · 39th AGM voting results: Both resolutions passed with 100 percent approval | board shareholder meetings | low | — | — |
| 31 Aug 2026 · 39th AGM concluded via VC; financials adopted, director re-appointed | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Annual Report FY26 with AGM notice - no revenue, net loss of Rs 34.32 lakh | board shareholder meetings | low | — | — |
| 7 Aug 2026 · 39th AGM notice and Annual Report 2025-26 filed with BSE | board shareholder meetings | medium | — | — |
| 7 Aug 2026 · Epsom Properties files 39th AGM notice and annual report for FY2026 | 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.