BSE: 537784
KARNIMATA COLD STORAGE LTD
Operates cold storage facilities in West Bengal, with registered office in Paschim Medinipur, generating ₹451.94 lakh in revenue from operations in FY26, broadly flat against ₹445.32 lakh in FY25. Storage fees form the only meaningful revenue stream, with no material input cost component — the cost mix is dominated by other operating expenses at 46.4% of revenue and employee costs at 20.2%. Net profit was ₹79.44 lakh with EPS of ₹1.56, and operating cash flow fell to ₹82.75 lakh from ₹459.81 lakh, mostly due to a sharp rise in trade receivables. Total assets stood at ₹17.12 crore and no dividend has been declared, with profits being retained for future growth. The company is listed on the BSE SME platform under Scrip Code 537784, with paid-up equity capital of ₹5.08 crore split across 50,84,000 shares. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Cold storage services. Small, service-based cold storage with negligible material cost and no stated capex
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 4 | 5 | 4 | 4 | 5 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | 1.01 | 0.14 | 1.19 | 1.56 | 1.56 |
| ROE % · ROCE % | — · 12.6 | — · 13.5 | — · 16.3 | — · 14.5 | — · 12.1 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 1 | (0) | 1 | 5 | 1 |
| Capex | — | — | — | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2 | 2 | 3 | 1 | 3 | 2 | 2 | 2 |
| Profit before tax | 0 | 0 | 1 | (0) | 1 | 0 | 0 | 0 |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | 0.49 | 0.37 | 0.84 | (0.74) | 1.67 | 0.11 | 0.95 | 0.61 |
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. % |
|---|---|---|---|---|---|---|---|---|
| INTL GEMOLOGICAL INST LTD | 17,213 | 28.2 | 11.57 | 16.5 | 47.8 | 58.1 | — | 64.6 |
| WEWORK INDIA MANAGEMENT L | 8,821 | 101.2 | 29.48 | 5.6 | 25.0 | 1.0 | — | 66.5 |
| NESCO LTD. | 7,059 | 16.9 | 2.36 | 11.9 | 13.8 | 14.8 | 26.2 | 68.9 |
| NIRLON LTD | 5,677 | 16.4 | 12.12 | — | 73.8 | 18.1 | — | 79.4 |
| SMARTWORKS COWORKING SP L | 5,439 | 195.1 | 10.25 | 4.6 | 2.0 | 0.3 | — | 65.8 |
| QUESS CORP LIMITED | 4,838 | 19.1 | 4.14 | 14.5 | 19.0 | 14.4 | 7.1 | 2.6 |
| INOX GREEN ENERGY SER LTD | 4,250 | 34.0 | 2.48 | 25.3 | 6.0 | 9.0 | — | 131.6 |
| INDIQUBE SPACES LIMITED | 3,731 | — | 7.25 | — | (20.7) | (2.5) | — | 67.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 4.6 | 13.0 | 20 of 79 | 76% |
| ROCE | 8.3 | 3.4 | 32 of 103 | 70% |
| Revenue growth | 49.4 | 16.2 | 24 of 91 | 74% |
| Market cap | 8 | 47 | 88 of 108 | 19% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · RTA confirms dematerialization compliance for Q2 FY27 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1 for H1 FY26 results | compliance | minimal | — | — |
| 21 Sept 2026 · 15th AGM voting results: both resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 19 Sept 2026 · Outcome of 15th AGM held on 19 September 2026 | board shareholder meetings | low | — | — |
| 28 Aug 2026 · 15th AGM set for 19 September 2026 | board shareholder meetings | medium | — | — |
| 28 Aug 2026 · Karnimata Cold Storage: Notice of 15th AGM on September 19, 2026 | board shareholder meetings | low | — | — |
| 28 Aug 2026 · 15th AGM on 19 Sept 2026; book closure from 13 Sept | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Board fixes 15th AGM on 19 Sept 2026; register closed 13 to 19 Sept | board shareholder meetings | medium | — | — |
| 7 Jul 2026 · RTA Certificate Under Reg 74(5) Submitted for Quarter Ended June 2026 | compliance | minimal | — | — |
| 4 Jun 2026 · Clarification for delay in submission of outcome of board meeting held on 28.05.2026. | compliance | minimal | — | — |
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.