Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · MERCANTILE VENTURES LTD. · 7 November 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
MERCANTILE VENTURES LTD.
NSE: MERCANTILE · BSE: 538942
NSE: MERCANTILE · BSE: 538942
Services › Services › Commercial Services & Supplies › Diversified Commercial Services
MERCANTILE VENTURES LTD.
StateQ4 FY26 filed
Last close · 6 Nov 2026₹22.59
Market cap₹0.3k cr
TTM P/E · P/B · EV/EBITDA37.0 · 0.90 · 498.0
MERCANTILE VENTURES LTD. is a Commercial Services & Supplies company listed on NSE. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 37 | 47 | 60 | 72 | 93 |
| EBITDA (ex other income) | 2 | 4 | (10) | 1 | 0 |
| margin % | 6.0 | 9.0 | (16.1) | 1.9 | 0.5 |
| Owners' profit | 16 | 16 | (4) | 17 | 2 |
| EPS, as reported (₹) | 0.59 | 0.54 | (0.64) | 1.55 | 0.62 |
| ROE % · ROCE % | 4.8 · 5.1 | 5.0 · 2.9 | (1.2) · (1.3) | 5.0 · 3.6 | 0.7 · 0.9 |
| Debt / equity (x) | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (6) | 21 | 39 | (33) | 1 |
| Capex | (0) | (0) | (1) | (5) | (0) |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · MERCANTILE VENTURES LTD. · 7 November 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17 | 18 | 18 | 19 | 21 | 24 | 25 | 24 |
| Profit before tax | 8 | 1 | 2 | 2 | (0) | 0 | 1 | 2 |
| Net profit | 6 | 1 | 2 | 9 | (1) | 1 | 3 | 2 |
| EPS (₹) | 0.50 | 0.07 | 0.17 | 0.81 | (0.08) | 0.13 | 0.25 | 0.31 |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Rent and Maintenance of immovable properties | 4 | 4.1 |
| Manpower Services | 27 | 27.9 |
| Security Services | 39 | 41.0 |
| Investment Activities | 3 | 3.0 |
| Rent and Maintenance of immovable properties | 2 | 2.0 |
| Rent and maintenance of immovable properties | 2 | 2.0 |
| Manpower services | 8 | 8.6 |
| security services | 11 | 11.3 |
| Investment activities | 0 | 0.1 |
| Total, before eliminations | 96 | 100.0 |
Source: the filed segment block, four quarters summed.
Exhibit 4: 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 | 17,600 | 26.4 | 10.05 | 18.0 | 20.1 | 24.0 | — | 61.4 |
| WEWORK INDIA MANAGEMENT L | 9,382 | 92.8 | 27.43 | 6.1 | 4.8 | 0.3 | — | 63.8 |
| NESCO LTD. | 7,327 | 18.2 | 2.32 | 14.9 | 6.5 | 7.6 | 26.2 | 56.0 |
| SMARTWORKS COWORKING SP L | 5,902 | 104.2 | 10.34 | 5.2 | 6.8 | 0.9 | — | 63.8 |
| NIRLON LTD | 5,722 | 16.5 | 12.21 | — | 73.8 | 18.1 | — | 77.4 |
| INOX GREEN ENERGY SER LTD | 4,846 | 38.8 | 2.83 | 209.8 | 6.0 | 9.0 | — | (2.2) |
| QUESS CORP LIMITED | 4,810 | 17.4 | 4.06 | 14.8 | 13.2 | 7.9 | 7.1 | 1.9 |
| INDIQUBE SPACES LIMITED | 3,985 | — | 8.18 | — | (6.1) | (0.6) | — | 62.8 |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 37.0 | 14.4 | 61 of 76 | 20% |
| P/B | 0.9 | 1.5 | 31 of 94 | 68% |
| ROCE | 0.9 | 1.3 | 57 of 99 | 43% |
| ROE | 0.7 | 1.4 | 63 of 112 | 44% |
| Debt / Equity | 0.0 | 0.1 | 1 of 90 | 74% |
| EBITDA margin | (0.9) | 12.7 | 77 of 99 | 22% |
| Revenue growth | 22.9 | 14.1 | 36 of 89 | 60% |
| Profit growth | (78.5) | 2.4 | 86 of 111 | 23% |
| Market cap | 253 | 48 | 31 of 108 | 72% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · MERCANTILE VENTURES LTD. · 7 November 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Nov 2026 · Consolidated Sep 2026 quarter: 70.56 lakh loss after tax versus year-earlier 102.46 lakh profit | results | high | — | — |
| 6 Nov 2026 · Quarterly profit turns to loss; review qualified over subsidiary valuation | results | high | — | — |
| 6 Nov 2026 · 30 September 2026: consolidated revenue up 6%, PAT loss and qualified review | results | high | — | — |
| 2 Nov 2026 · Board to approve consolidated and standalone results for September 2026 quarter | results | low | — | — |
| 7 Oct 2026 · Reg 74(5) Compliance Certificate for Q2 FY2027 | compliance | minimal | — | — |
| 30 Sept 2026 · Trading Window Closure Ahead of Q2 Results | compliance | minimal | — | — |
| 31 Aug 2026 · Notice of 25th AGM published; meeting on 24 Sept 2026 via video conferencing | compliance | minimal | — | — |
| 29 Aug 2026 · 25th AGM on 24 Sep 2026; RPT with SPIC and WTD re-appointment on agenda | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Annual Report FY26 filed; 25th AGM set for 24 Sep 2026 | results | high | — | — |
| 28 Aug 2026 · Newspaper notice to shareholders on e-mail registration, KYC and physical share transfers | compliance | minimal | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in