BSE: 505585
KOVALAM INVESTMENT & TRADING C
Operates as a Ludhiana-based non-banking financial company (NBFC) earning revenue from two streams: an Investment & Finance segment that generates interest income, dividends and fair-value gains on its portfolio, and a Services (Brokerage) segment that earns fees from brokerage activities. For the period ended 30 September 2024, the Investment & Finance stream accounted for 77% of segment revenue (Rs 2.2099 cr, EBIT margin 97.7%) and the Brokerage stream for 23% (Rs 0.66 cr, EBIT margin 99.7%). FY26 total income was Rs 2.4937 cr with a net profit of Rs 1.3452 cr, reflecting the very thin scale typical of a small investment company. The cost base is light — employee cost of Rs 0.0782 cr (3.1% of revenue) and other operating expenses of Rs 0.2007 cr (8.0% of revenue) — with no materials cost and no debt on the balance sheet. Total assets stood at Rs 78.5549 cr. The company is BSE-listed (Scrip 505585), with its registered office at the premises of Oswal Woollen Mills Ltd, G.T. Road, Sherpur, Ludhiana, and promoters tied to the Oswal family. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Investment & Finance (77%), Services (Brokerage) (23%). Small, asset-light NBFC with investment and brokerage income
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2 | 2 | 4 | 2 | 2 |
| EBITDA (ex other income) | 2 | 2 | 3 | 2 | 2 |
| margin % | 94.3 | 73.6 | 96.8 | 91.4 | 73.7 |
| Owners' profit | 2 | 1 | 3 | 2 | 1 |
| EPS, as reported (₹) | 8.14 | 4.60 | 13.72 | 7.40 | 6.05 |
| ROE % · ROCE % | 1.6 · — | 1.4 · — | 3.5 · — | 2.2 · — | 1.9 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (0) | 1 | 1 | (1) | 8 |
| 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 | 2 | (0) | (1) | 1 | (0) | 1 | (0) | 2 |
| Profit before tax | 2 | (0) | (1) | 1 | (0) | 1 | (0) | 2 |
| Net profit | 2 | (0) | (1) | 1 | (0) | 1 | (1) | 2 |
| EPS (₹) | 7.28 | (1.11) | (3.35) | 6.08 | (0.91) | 3.70 | (2.82) | 8.35 |
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) | 1.7 | 13.0 | 10 of 79 | 89% |
| P/B | 0.0 | 1.3 | 4 of 95 | 96% |
| ROE | 1.9 | 2.9 | 63 of 113 | 45% |
| EBITDA margin | 95.2 | 25.4 | 9 of 92 | 91% |
| Revenue growth | 46.1 | 16.2 | 25 of 91 | 73% |
| Profit growth | 37.5 | 5.2 | 46 of 110 | 59% |
| Market cap | 3 | 47 | 101 of 108 | 7% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 14 Oct 2026 · Quarterly compliance certificate on dematerialization filed with BSE | compliance | minimal | — | — |
| 26 Sept 2026 · 44th AGM results: all 7 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 26 Sept 2026 · 44th AGM results: all 7 resolutions passed with 100 percent approval | board shareholder meetings | low | — | — |
| 25 Sept 2026 · 44th AGM held on Sep 25, 2026; 7 resolutions transacted | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Kovalam files 44th AGM notice with book closure and e-voting details | compliance | minimal | — | — |
| 29 Aug 2026 · AGM 44 notice and FY26 annual report sent to shareholders without registered email | compliance | minimal | — | — |
| 27 Aug 2026 · 44th Annual Report and AGM Notice filed for FY 2025-2026 | board shareholder meetings | low | — | — |
| 27 Aug 2026 · 44th AGM on Sept 25, 2026; Book Closure Sept 19-25; E-voting details | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Notice of 44th AGM on September 25, 2026; seeks borrowing and related party approvals | board shareholder meetings | 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.