Generates revenue from services operations, with FY26 total income from operations at Rs 4.4549 crore versus Rs 0.05 lakh in FY25, a sharp swing from the prior year. Operations look asset-light: materials account for 0% of revenue, employee costs 2.1%, and other operating expenses 4.0%, with both depreciation and capex at 0% of revenue. In Q1 FY27 (quarter ended June 30, 2026), operating revenue was nil and total income was Rs 4.50 lakh against expenses of Rs 11.15 lakh, producing a net loss of Rs 6.65 lakh (EPS of minus Rs 0.24). Filings reference a prior fire systems business, and in June 2026 the board approved an amendment to the main objects clause to add travel and tourism as a new business line, appointing a new Managing Director with five years of travel industry experience. The registered office is in Goregaon West, Mumbai. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Services operations. Small, asset-light services company with negligible operating revenue in recent quarters and an announced pivot toward travel and tourism.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 4 |
| EBITDA (ex other income) | (0) | (0) | (0) | (1) | 4 |
| margin % | (128.0) | (912.5) | (412.0) | — | 93.9 |
| Owners' profit | (0) | (0) | (0) | (2) | 4 |
| EPS, as reported (₹) | 0.00 | 0.00 | 0.00 | 12.50 | 14.08 |
| ROE % · ROCE % | 11.7 · 7.6 | 7.3 · 2.8 | 3.1 · 2.6 | 488.0 · 327.9 | 110.0 · 68.1 |
| Debt / equity (x) | (0.94) | (1.00) | (0.97) | (7.47) | 0.77 |
| Cash from operations | (0) | (0) | 0 | (4) | (0) |
| Capex | 0 | 0 | 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 | 4 |
| Profit before tax | (0) | (0) | (1) | (0) | (0) | (0) | (0) | 4 |
| Net profit | (0) | (0) | (1) | (0) | (0) | (0) | (0) | 4 |
| EPS (₹) | 0.00 | 0.00 | (4.25) | 2.24 | 0.48 | 0.16 | 0.17 | 14.89 |
| 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 % |
|---|---|---|---|---|
| 5 Sept 2026 · MPF Systems appoints new auditor after S K Bhavsar resignation | management changes | medium | — | — |
| 5 Sept 2026 · Statutory Auditor Resigns Citing Capacity Constraints | management changes | high | — | — |
| 5 Sept 2026 · MPF Systems: Statutory Auditor S K Bhavsar Resigns, New Auditor Appointed | board shareholder meetings | low | — | — |
| 31 Jul 2026 · MPF Systems publishes Q1 FY27 unaudited results in newspapers | compliance | minimal | — | — |
| 29 Jul 2026 · Board appoints two Independent Directors; Q1 FY27 net loss of Rs 6.65 lakh | management changes | medium | — | — |
| 29 Jul 2026 · MPF Systems Q1 FY27: Rs 6.65 lakh loss, nil operational revenue | results | medium | — | — |
| 29 Jul 2026 · Board approves Q1 FY27 results, appoints 2 Independent Directors | board shareholder meetings | low | — | — |
| 18 Jul 2026 · MPF Systems board to consider Q1 FY27 results on July 29 | results | low | — | — |
| 16 Jul 2026 · MPF Systems 33rd AGM: All 7 resolutions passed unanimously | compliance | minimal | — | — |
| 14 Jul 2026 · Outcome of the 33rd Annual General Meeting of the Company held on Tuesday, 14th July, 2026 | board shareholder meetings | 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 |
| 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) | 0.4 | 14.3 | 2 of 89 | 99% |
| P/B | 0.6 | 1.5 | 17 of 92 | 82% |
| ROCE | 68.1 | 3.2 | 2 of 105 | 99% |
| ROE | 110.0 | 3.1 | 2 of 116 | 99% |
| Debt / Equity | 0.8 | 0.0 | 102 of 116 | 12% |
| EBITDA margin | 98.9 | 25.4 | 7 of 92 | 93% |
| Profit growth | 1429.8 | 5.2 | 7 of 110 | 95% |
| Market cap | 2 | 56 | 103 of 104 | 1% |
| 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.
