BSE: 543522
Nanavati Ventures Limited
Trades diamonds, precious metals, stones and jewellery from Surat, operating as a small BSE SME-listed entity. FY26 revenue from operations was Rs. 1,867.81 lakh, more than double the Rs. 868.42 lakh reported in FY25, driven by growth in its diamond and precious metals trading business. The business is essentially pure trading: cost of goods sold consumed 98% of revenue in FY26, leaving employee costs at 0.4% of revenue and other operating expenses at 0.5%. Despite the revenue doubling, net profit fell to Rs. 7.33 lakh from Rs. 21.86 lakh in the prior year, with basic and diluted EPS at Rs. 0.16 versus Rs. 0.47. The H1 FY26 (six months ended 30 September 2025) unaudited results showed revenue of Rs. 3,407.07 lakh, up from Rs. 2,682.03 lakh in H1 FY25, with net profit of Rs. 20.27 lakh. Trade receivables jumped sharply to Rs. 1,602.77 lakh from Rs. 593.16 lakh, short-term borrowings rose to around Rs. 1,060 lakh, and total equity stood at Rs. 2,252.40 lakh against current liabilities of Rs. 1,704.63 lakh. The company underwent a complete change in promoters in November 2025, with the prior promoter Kashmira Nanavati selling her 51.69% stake to Samad Ahmed Khan (25.69%) and Nila Biswakarma (26%). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading in diamonds, precious metals, stones and jewellery. Small, thin-margin commodity trading business in diamonds and precious metals
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 19 | 16 | 26 | 9 | 19 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | 0.11 | 0.52 | 0.42 | 0.50 | 0.16 |
| ROE % · ROCE % | — · 0.3 | — · 1.4 | — · 1.2 | — · 1.4 | — · 0.7 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 0 | (2) | (13) | (0) | (0) |
| Capex | — | — | — | (0) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11 | 5 | 12 | 14 | 3 | 5 | 17 | 2 |
| Profit before tax | 0 | 0 | (0) | 1 | 0 | 0 | 0 | 0 |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | 0.52 | 0.00 | (0.83) | 1.25 | 0.06 | 0.43 | 0.08 | 0.07 |
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. % |
|---|---|---|---|---|---|---|---|---|
| DECCAN GOLD MINES LTD. | 3,414 | — | 6.88 | — | (13.0) | (15.4) | — | (218.7) |
| Nanavati Ventures Limited ◆ | 36 | 119.7 | — | — | — | 0.7 | — | — |
| SPARKLE GOLD ROCK LIMITED | 31 | 7.6 | 5.95 | — | 78.6 | 99.4 | — | 7.9 |
| UTIQUE ENTERPRISES LIMITED | 20 | 6.3 | 0.88 | (3.0) | 2.9 | 1.7 | — | — |
| AMANAYA VENTURES LIMITED | 7 | 13.3 | 1.22 | — | 3.8 | 5.2 | — | 0.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 119.7 | 15.9 | 22 of 22 | 0% |
| ROCE | 0.7 | 7.8 | 21 of 24 | 13% |
| Revenue growth | (87.5) | 13.6 | 20 of 21 | 5% |
| Market cap | 36 | 198 | 18 of 24 | 26% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · RTA compliance certificate under SEBI Reg 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 28 Sept 2026 · 16th AGM voting results: all 4 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 25 Sept 2026 · 16th AGM held: financials adopted, Vachheta re-appointed and named Managing Director | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Trading Window closed from Oct 1, 2026 for half-yearly results | compliance | minimal | — | — |
| 2 Sept 2026 · Nanavati Ventures 16th AGM on Sep 25, 2026; MD appointment on agenda | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Annual Report FY26: Revenue doubled but net profit fell 66% | compliance | medium | — | — |
| 1 Sept 2026 · Vipulbhai Vachheta appointed Chairperson and Managing Director | management changes | high | — | — |
| 1 Sept 2026 · Vipulbhai Vachheta appointed Chairman and Managing Director | management changes | high | — | — |
| 25 Aug 2026 · Appointment of Internal and Secretarial Auditors for FY 2025-26 | management changes | low | — | — |
| 15 Jul 2026 · RTA compliance certificate for Q1 FY26 filed with BSE | compliance | minimal | — | — |
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.