A leather products company listed on BSE has carried out no manufacturing activity in FY25 or FY26, and reported zero revenue from operations in FY26. The standalone net profit of Rs. 1.124 crore in FY26 is sourced entirely from other income and exceptional gains on the sale of fixed assets, with no sales of goods. Property, plant and equipment has been relocated and a parcel of land was auctioned by Canara Bank after the company was declared an NPA. Borrowings have been classified as NPA since FY 2022-23. The statutory auditor issued an adverse opinion for FY26, flagging multiple qualifications including a material uncertainty on the company's ability to continue as a going concern. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Other income. Dormant company with no manufacturing activity, dependent on other income and asset sales
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 9 | 4 | 0 | 0 | 0 |
| EBITDA (ex other income) | (0) | (6) | (0) | (1) | 0 |
| margin % | (1.1) | (138.1) | (176.5) | — | — |
| Owners' profit | (1) | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | (1.05) | (7.22) | (1.80) | 0.06 | 2.32 |
| ROE % · ROCE % | (9.4) · 0.2 | (152.4) · (74.8) | (49.0) · (7.2) | 1.8 · 1.9 | 40.1 · 11.2 |
| Debt / equity (x) | 0.60 | 1.75 | 2.35 | 2.34 | 1.38 |
| Cash from operations | 3 | (0) | (0) | (1) | (1) |
| Capex | 0 | (2) | 0 | 0 | 0 |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | (0) | (0) | (0) | 0 | (0) | 1 | 0 | 0 |
| Net profit | (0) | (0) | (0) | 0 | (0) | 1 | 0 | 0 |
| EPS (₹) | 0.18 | (0.21) | (0.07) | 0.52 | 0.23 | 1.32 | 0.55 | 0.63 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Khazanchi Jewellers Limited | 1,868 | 13.2 | 5.85 | — | 28.0 | 37.7 | — | 6.8 |
| PNGS GARGI FASHION JEWELLERY L | 635 | 13.4 | 4.47 | — | 22.1 | 27.0 | — | 30.4 |
| UDAY JEWELLERY INDS. LTD. | 584 | 22.1 | 2.82 | — | 17.2 | 23.1 | — | 8.3 |
| KD GREEN INDUSTRIES LTD | 285 | 18.1 | 3.97 | 31.8 | 7.0 | 8.6 | — | 16.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · Notice of 41st AGM published in newspapers | compliance | minimal | — | — |
| 7 Sept 2026 · Mayur Leather Products FY26 Annual Report and 41st AGM Notice filed | results | medium | — | — |
| 7 Sept 2026 · Mayur Leather Products 41st AGM on Sep 29, 2026 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Notice of 41st AGM on September 29, 2026 at 2:00 PM in Jaipur | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Mayur Leather Products postpones 41st AGM to September 29, 2026 | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Clarification on recent share price movement | regulatory legal | medium | — | — |
| 27 Aug 2026 · BSE seeks clarification on sharp price movement | regulatory legal | high | — | — |
| 13 Aug 2026 · Board outcome: Q1 loss, auditor change, new independent director | management changes | medium | — | — |
| 13 Aug 2026 · Board meet: Q1 loss continues, auditor exits, new auditor and director appointed | management changes | medium | — | — |
| 13 Aug 2026 · Auditor exits mid-term; Q1 FY27 shows zero revenue, losses | management changes | medium | — | — |
| 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 |
| GOLKUNDA DIAMONDS & JEWELLERY |
| 230 |
| 16.8 |
| 2.87 |
| — |
| 17.1 |
| 20.7 |
| — |
| 9.0 |
| AJC Jewel Manufacturers Limite | 164 | 39.2 | — | — | — | 28.7 | — | — |
| Ashapuri Gold Ornament Limited | 152 | 7.3 | 0.91 | — | 11.1 | 15.0 | — | 11.4 |
| Patdiam Jewellery Limited | 140 | 7.5 | — | — | — | — | — | — |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 14.5 | 13.3 | 30 of 54 | 45% |
| P/B | 7.0 | 0.9 | 33 of 37 | 11% |
| ROCE | 11.0 | 3.9 | 17 of 52 | 69% |
| ROE | 40.1 | 2.5 | 3 of 40 | 95% |
| Debt / Equity | 1.4 | 0.1 | 36 of 40 | 10% |
| Profit growth | 21.6 | 1.4 | 15 of 34 | 58% |
| Market cap | 20 | 27 | 35 of 54 | 36% |
| 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.
