Designs, supplies, and installs facade systems — including windows and CRP (curtain reinforced panel) works — for commercial and residential building projects in India. Revenue is project-based, with the company securing work orders from real estate developers and then executing them over one- to two-year timelines. In FY26, new work orders of ₹57,179 lakhs were booked, a 134% increase over ₹24,430 lakhs in FY25, lifting the order book to an all-time high of ₹74,102 lakhs as of 31 March 2026, with an additional ₹18,306 lakhs of orders received after year-end. Notable wins include a ₹84.84 crore contract from Reliance Industries for the Anant Vilas Project in BKC, Mumbai and a ₹76.82 crore Letter of Award from Lodha Developers for the Lodha Worli Sea Face Project. The business operates as a single segment (facade systems, windows and CRP) with no separately reportable segments, and its wholly-owned subsidiary Innovators Engineering Works contributed zero revenue. Materials for facade fabrication are the dominant cost at 67.6% of revenue, followed by employee costs at 13.4% and other opex at 6.5%, with capex intensity low at 3.5% of revenue and ROCE at 14.13%. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Facade systems, windows and CRP works. Project-based, asset-light facade contracting with low capex intensity and a single operating segment
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 89 | 181 | 215 | 221 | 228 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | 0.85 | 4.46 | 8.09 | 8.49 | 7.19 |
| ROE % · ROCE % | — · 4.3 | — · 11.1 | — · 17.5 | — · 17.5 | — · 14.1 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 10 | 16 | 31 | 3 | 43 |
| Capex | — | — | — | (6) | (8) |
| ₹ crore | Q4 FY22 | Q2 FY23 | Q4 FY23 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 59 | 72 | 109 | 115 | 114 | 107 | 84 | 144 |
| Profit before tax | 1 | 1 | 9 | 13 | 11 | 11 | 7 | 12 |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | 0.65 | 0.61 | 3.85 | 5.41 | 4.42 | 4.06 | 2.78 | 4.41 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 45,150 | 93.8 | 24.06 | 77.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,717 | 82.8 | 10.02 | 53.5 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 30,536 | 55.7 | 6.84 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 23,496 | 67.9 | 4.93 | 33.3 | 7.6 | 9.8 | — | 17.1 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · Credit rating reaffirmed; outlook revised from Positive to Stable | credit debt | medium | — | — |
| 29 Aug 2026 · 27th AGM on 22 Sep 2026; book closure from 16 Sep; e-voting details | compliance | minimal | — | — |
| 27 Aug 2026 · 27th AGM on Sep 22, 2026; book closure from Sep 16 to Sep 22 | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Annual Report FY26 filed, AGM set for 22 September 2026 | board shareholder meetings | medium | — | — |
| 27 Aug 2026 · 27th AGM on September 22; e-voting starts September 18 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Board approves cost auditor re-appointment and FY25-26 annual report | management changes | low | — | — |
| 6 Aug 2026 · K.C. Shah & Associates re-appointed as Internal Auditor for FY 2026-27 | management changes | medium | — | — |
| 6 Aug 2026 · Internal auditor K.C. Shah & Associates re-appointed for FY 2026-27 | management changes | low | — | — |
| 16 Jul 2026 · GST Penalty of Rs 1.67 Lakh from Karnataka Tax Department | regulatory legal | medium | — | — |
| 14 Jul 2026 · Compliance certificate for Q1 FY27 dematerialisation filed with BSE | compliance | minimal | — | — |
| 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 |
| JYOTI CNC AUTOMATION LTD |
| 22,490 |
| 69.9 |
| 11.24 |
| 39.7 |
| 16.8 |
| 19.2 |
| — |
| 22.2 |
| LMW LIMITED | 19,058 | 109.1 | 6.65 | 61.8 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 12,982 | 455.9 | 3.81 | 38.8 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,285 | 48.3 | 7.30 | 50.1 | 11.7 | 11.5 | — | 15.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 7.1 | 26.9 | 15 of 138 | 90% |
| ROCE | 10.1 | 11.3 | 79 of 144 | 46% |
| Revenue growth | 25.4 | 20.6 | 45 of 114 | 61% |
| Market cap | 210 | 356 | 81 of 140 | 42% |
| 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 |
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.
