BSE: 523387
HOMRE LIMITED
HOMRE Limited (formerly Triton Corp Limited), listed on BSE under consumer durables / gems and jewellery classification, is in the middle of a business pivot. Standalone operations recorded Rs 1,528.62 lakh of revenue from operations in FY26, up sharply from Rs 84.76 lakh in FY25, with a standalone PAT of Rs 118.69 lakh. Consolidated revenue from operations for FY26 was materially larger at Rs 21,954.41 lakh, though consolidated PAT slipped to a Rs 2.37 lakh loss after a Rs 124.11 lakh deferred tax charge. The company commenced biomass briquettes and pellets manufacturing at a new plant in Bharatpur, Rajasthan on May 28, 2026, producing renewable fuel from agricultural residues such as mustard husks and wheat straw. A second biomass pellet plant has been approved for Morena, Madhya Pradesh, with a stated capacity of 5 Tons Per Hour and an expected start in mid-FY27. Q1 FY27 standalone revenue from operations came in at Rs 1,192.29 lakh with PAT of Rs 63.46 lakh. The standalone cost base is dominated by other operating expenses (1.8% of revenue) and employee costs (0.7%), with materials shown at nil in the FY26 pack. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Biomass briquettes and pellets (renewable fuel), Legacy / other operations. Small-scale company in transition — legacy consumer-durables / gems-jewellery classification but now pivoting into biomass fuel manufacturing, with a much larger consolidated top line than standalone and accumulated losses on the balance sheet (negative other equity of Rs 858.18 lakh standalone, Rs 1,970.08 lakh consolidated as at FY26).
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 15 |
| EBITDA (ex other income) | (3) | (0) | (0) | (0) | 1 |
| margin % | — | — | — | — | 4.6 |
| Owners' profit | (3) | (0) | (0) | 0 | 0 |
| EPS, as reported (₹) | (0.13) | (0.01) | (0.02) | 0.00 | 0.02 |
| ROE % · ROCE % | (293.7) · (293.7) | (29.4) · (29.4) | (195.2) · (111.3) | 26.5 · 75.7 | (8.2) · 37.6 |
| Debt / equity (x) | 1.84 | 2.33 | 6.58 | 10.08 | 10.26 |
| Cash from operations | 0 | 0 | 0 | (1) | 1 |
| 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 | 2 | 7 | 6 |
| Profit before tax | (0) | (0) | (0) | 0 | 0 | 0 | 0 | 0 |
| Net profit | (0) | (0) | (0) | 0 | 0 | 0 | 0 | (1) |
| EPS (₹) | (0.01) | (0.00) | (0.01) | 0.02 | 0.01 | 0.01 | 0.01 | 0.04 |
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. % |
|---|---|---|---|---|---|---|---|---|
| Khazanchi Jewellers Limited | 1,735 | 12.2 | 5.43 | — | 28.0 | 37.7 | — | 6.8 |
| PNGS GARGI FASHION JEWELLERY L | 599 | 12.6 | 4.22 | — | 22.1 | 27.0 | — | 30.4 |
| UDAY JEWELLERY INDS. LTD. | 569 | 21.5 | 2.74 | — | 17.2 | 23.1 | — | 8.3 |
| KD GREEN INDUSTRIES LTD | 287 | 18.3 | 3.99 | 32.0 | 7.0 | 8.6 | — | 16.5 |
| GOLKUNDA DIAMONDS & JEWELLERY | 216 | 15.8 | 2.69 | — | 17.1 | 20.7 | — | 9.0 |
| AJC Jewel Manufacturers Limite | 214 | 51.1 | — | — | — | 28.7 | — | — |
| Patdiam Jewellery Limited | 147 | 7.8 | — | — | — | — | — | — |
| Ashapuri Gold Ornament Limited | 146 | 7.0 | 0.87 | — | 11.1 | 15.0 | — | 11.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 25.0 | 12.9 | 35 of 47 | 26% |
| P/B | 121.4 | 0.9 | 37 of 37 | 0% |
| ROCE | 37.6 | 4.7 | 5 of 50 | 92% |
| ROE | (8.2) | 2.3 | 35 of 37 | 6% |
| Debt / Equity | 10.3 | 0.1 | 36 of 37 | 3% |
| EBITDA margin | 8.2 | 6.8 | 15 of 35 | 59% |
| Profit growth | (300.7) | 1.4 | 30 of 34 | 12% |
| Market cap | 35 | 24 | 22 of 54 | 60% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · HOMRE Limited board meeting on Oct 16 for Q2 FY26 results | results | low | — | — |
| 29 Sept 2026 · In response to the email dated 29.09.2026 received from BSE, we are enclosing herewith the clarification regarding the delay,along with the revised proceedings of the 36th Annual General .... | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Trading Window Closed for Q2 and H1 FY26 Results | compliance | minimal | — | — |
| 26 Sept 2026 · Homre Limited 36th AGM: ESOP 2026 and warrant issue approved | board shareholder meetings | medium | — | — |
| 25 Sept 2026 · HOMRE 36th AGM approves ESOP 2026 and preferential warrants worth about Rs 12.5 crore | board shareholder meetings | medium | — | — |
| 11 Sept 2026 · Company Secretary Resignation and New Appointment at HOMRE Limited | management changes | medium | — | — |
| 11 Sept 2026 · HOMRE Limited appoints new Company Secretary and Compliance Officer | management changes | medium | — | — |
| 11 Sept 2026 · Company Secretary Pratibha Sharma resigns from Homre Limited | management changes | medium | — | — |
| 2 Sept 2026 · Filing of 36th AGM newspaper notice clippings with BSE | compliance | minimal | — | — |
| 1 Sept 2026 · 36th AGM Notice: ESOP 2026, Preferential Warrants and Director Appointments | compliance | medium | — | — |
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.