Manufactures and trades marble, granite and allied stones from a base in Jaipur with its work office in Udaipur. It operates as a single business segment — the buying, processing and selling of natural stone — and reports no other lines of revenue. FY26 revenue from operations was ₹188.28 lakhs, with other income of ₹2.46 lakhs taking the top line higher. H1 FY26 revenue came in at ₹95.09 lakhs, down from ₹142.69 lakhs in H1 FY25, and Q2 FY26 alone posted ₹50.65 lakhs versus ₹35.80 lakhs in Q2 FY25. The cost base is roughly evenly split between raw materials (22.3% of revenue), employee costs (22.1%) and other operating expenses (23.4%), with depreciation at 5.7% and no capex reported in FY26. Long-term borrowings fell to ₹12.32 lakhs in H1 FY26 from ₹38.61 lakhs a year earlier, and the debt-to-equity ratio stood at 0.2268. It is a small, single-segment entity listed on BSE (and the Calcutta Stock Exchange), with 833 shareholders on record for its 44th AGM and a Whole Time Director, Mr. Sanjay Jain, whose remuneration was revised to ₹75,000 per month basic salary for two years from August 22, 2025. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Trading and manufacturing of marble, granite and allied stones (100%). Single-segment, small-cap stone manufacturer and trader with thin margins (net margin 1.49% in FY26).
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2 | 1 | 2 | 2 | 2 |
| EBITDA (ex other income) | 0 | (0) | 0 | 0 | 0 |
| margin % | 6.2 | (10.2) | 10.8 | 10.1 | 11.9 |
| Owners' profit | (0) | 0 | 0 | (0) | 0 |
| EPS, as reported (₹) | (0.31) | 0.34 | 0.21 | 0.02 | 0.09 |
| ROE % · ROCE % | (2.6) · 0.8 | 2.7 · 6.7 | 1.7 · 3.4 | (0.1) · 2.5 | 0.7 · 3.5 |
| Debt / equity (x) | 0.37 | 0.30 | 0.38 | 0.33 | 0.23 |
| Cash from operations | 0 | 0 | (0) | 0 | 1 |
| Capex | 0 | (0) | 0 | 0 | 0 |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 0 | 1 | 0 | 0 | 1 | 0 | 0 |
| Profit before tax | 0 | (0) | (0) | (0) | 0 | 0 | 0 | 0 |
| Net profit | 0 | (0) | (0) | (0) | 0 | 0 | (0) | 0 |
| EPS (₹) | 0.46 | (0.07) | (0.07) | 0.34 | 0.01 | 0.03 | 0.00 | 0.05 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| MIDWEST ENERGY LIMITED | 4,601 | 551.6 | 11.55 | — | (3.5) | (2.3) | — | 19.4 |
| RAMCO INDUSTRIES LIMITED | 2,804 | 8.6 | 0.62 | 11.2 | 6.8 | 4.3 | 8.2 | 19.2 |
| BIRLANU LIMITED | 1,101 | — | 0.99 | 18.4 | (10.8) | (6.5) | 4.2 | 6.8 |
| ARISINFRA SOLUTIONS LTD | 1,025 | 14.7 | 1.37 | 8.8 | 8.0 | 10.2 | — | 12.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 5 Sept 2026 · Annual Report FY26: Revenue dips but firm returns to profit | results | high | — | — |
| 5 Sept 2026 · Book closure Sep 24-30 for 45th AGM; no dividend declared | corporate actions | low | — | — |
| 5 Sept 2026 · AGM notice and book closure from 24 to 30 September 2026 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Jain Marmo sets 45th AGM on Sep 30, no dividend for FY26 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Board approves 45th AGM notice and related items for September 30, 2026 | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Board meeting on Sept 5 to approve FY26 board report, AGM notice | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Q1 FY27 net loss at Rs 8.36 lakh versus Rs 0.36 lakh profit last year | results | medium | — | — |
| 11 Aug 2026 · Q1FY27 Results: Net Loss of 8.36 Lakhs vs Profit Last Year | results | high | — | — |
| 4 Aug 2026 · Board Meeting on 11 Aug to consider Q1 FY27 Financial Results | results | low | — | — |
| 28 Jul 2026 · Compliance Certificate under Reg 74(5) for quarter ended June 2026 | 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 |
| EVEREST INDUSTRIES LTD |
| 646 |
| — |
| 1.31 |
| — |
| (20.6) |
| (16.0) |
| 3.1 |
| 31.7 |
| MARBLE CITY INDIA LIMITED | 440 | 58.0 | 4.72 | 18.9 | 9.5 | 7.0 | — | 23.5 |
| SAHYADRI INDUSTRIES LTD | 429 | 9.6 | 1.06 | — | 7.1 | 9.4 | — | 16.1 |
| NIDHI GRANITES LTD. | 204 | 17.7 | 9.05 | 16.0 | 34.1 | 45.3 | — | 28.6 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 255.6 | 37.0 | 19 of 20 | 5% |
| P/B | 1.8 | 1.6 | 11 of 20 | 47% |
| ROCE | 1.2 | 2.8 | 13 of 22 | 43% |
| ROE | 0.7 | 2.8 | 13 of 21 | 40% |
| Debt / Equity | 0.2 | 0.1 | 13 of 21 | 40% |
| EBITDA margin | 16.6 | 16.7 | 9 of 16 | 47% |
| Revenue growth | 67.8 | 14.0 | 3 of 18 | 88% |
| Profit growth | 113.6 | 83.2 | 8 of 19 | 61% |
| Market cap | 7 | 49 | 22 of 22 | 0% |
| 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 |
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