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
| ₹ crore · consolidated | 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) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (0) | 1 | 1 | (1) | 8 |
| Capex | 0 | 0 | 0 | 0 | 0 |
| ₹ 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 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| INTL GEMOLOGICAL INST LTD | 13,611 | 22.3 | 9.15 | 13.1 | 47.8 | 58.1 | — | 64.6 |
| WEWORK INDIA MANAGEMENT L | 9,297 | 106.7 | 31.07 | 5.9 | 25.0 | 1.0 | — | 66.5 |
| NESCO LTD. | 7,728 | 18.6 | 2.58 | 13.1 | 13.8 | 14.8 | 26.2 | 68.9 |
| INOX GREEN ENERGY SER LTD | 7,175 | 57.5 | 4.18 | 42.6 | 6.0 | 9.0 | — | 131.6 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 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 | — | — |
| 12 Aug 2026 · Kovalam Investment files newspaper notice for 44th AGM | compliance | minimal | — | — |
| 12 Aug 2026 · Q1 FY27 results published in newspapers, filed with BSE | compliance | minimal | — | — |
| 11 Aug 2026 · Q1 FY27 results: revenue and profit decline sharply year-on-year | results | high | — | — |
| 11 Aug 2026 · Q1 FY27 unaudited results approved; AGM set for September 25 | results | high | — | — |
| 31 Jul 2026 · Board meeting on Aug 11 to consider Q1 FY27 unaudited results | results | low | — | — |
| 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 |
| SMARTWORKS COWORKING SP L | 6,079 | 218.0 | 11.45 | 5.1 | 2.0 | 0.3 | — | 65.8 |
| NIRLON LTD | 5,526 | 16.0 | 11.79 | — | 73.8 | 18.1 | — | 79.4 |
| QUESS CORP LIMITED | 5,174 | 20.4 | 4.43 | 15.6 | 19.0 | 14.4 | 7.1 | 2.6 |
| INDIQUBE SPACES LIMITED | 4,272 | — | 8.30 | — | (20.7) | (2.5) | — | 67.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 1.7 | 14.3 | 9 of 89 | 91% |
| P/B | 0.0 | 1.5 | 1 of 92 | 99% |
| ROE | 1.9 | 3.1 | 66 of 116 | 44% |
| Debt / Equity | 0.0 | 0.0 | 3 of 116 | 60% |
| 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 | 56 | 100 of 104 | 4% |
| 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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