Despite being classified under Construction Materials and bearing a name suggesting rock-mineral extraction, this BSE-listed company currently has no revenue from operations. All reported income comes from "other income" — principally interest on loans extended to unrelated parties. Total income for FY26 was Rs. 64.41 lakh, down marginally from Rs. 66.43 lakh in FY25, and the company booked a net profit of Rs. 22.72 lakh (EPS Rs. 0.45) against total expenses of just a few lakhs. The auditor flagged in an Emphasis of Matter that the company does not qualify as an NBFC under RBI rules because its loan portfolio is below 50% of total assets. Operating cash flow was deeply negative at Rs. -434.71 lakh in FY26, driven by a Rs. 412.87 lakh increase in other current assets. A change of control is in progress, with an acquirer purchasing 62.06% from existing promoters and making a follow-on mandatory open offer for 26% of shares. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Other income (interest on loans to unrelated parties) (100%). Effectively dormant; no operating business, earns only interest income from loans
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| EBITDA (ex other income) | (0) | (0) | (0) | (0) | (0) |
| margin % | — | — | — | — | — |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 0.46 | 0.44 | 0.48 | 0.39 | 0.45 |
| ROE % · ROCE % | 3.2 · 5.3 | 2.9 · 5.7 | 3.1 · 5.8 | 2.4 · 3.2 | 2.7 · 3.8 |
| Debt / equity (x) | 0.00 | 0.02 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 1 | (4) | (0) | (1) | (4) |
| Capex | 0 | 0 | 0 | 0 | 0 |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | (0) | (0) | 0 | (0) | (0) | 0 | 0 | 0 |
| Net profit | (0) | (0) | 0 | (0) | (0) | 0 | 0 | 0 |
| EPS (₹) | (0.18) | (0.08) | 0.73 | 0.06 | 0.06 | 0.10 | 0.47 | 0.07 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| MIDWEST ENERGY LIMITED | 4,601 | 551.6 | 11.55 | — | (3.5) | (2.3) | — | 19.4 |
| RAMCO INDUSTRIES LIMITED | 2,804 | 8.6 | 0.62 | 11.2 | 6.8 | 4.3 | 8.2 | 19.2 |
| BIRLANU LIMITED | 1,101 | — | 0.99 | 18.4 | (10.8) | (6.5) | 4.2 | 6.8 |
| ARISINFRA SOLUTIONS LTD | 1,025 | 14.7 | 1.37 | 8.8 | 8.0 | 10.2 | — | 12.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · Annual Report FY26 filed; 38th AGM set for Sept 30, 2026 | compliance | low | — | — |
| 5 Sept 2026 · 38th AGM set for September 30; Managing Director reappointment proposed | board shareholder meetings | low | — | — |
| 5 Sept 2026 · 38th AGM on Sept 30, 2026; record date set for Aug 28, 2026 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Board approves 38th AGM on Sep 30, 2026; fixes record date and book closure | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Open Offer Opening Announcement filed with BSE | compliance | high | — | — |
| 14 Aug 2026 · Q1 FY27 Results: Profit of Rs 3.71 lakh vs loss last year; zero operating revenue | results | high | — | — |
| 10 Aug 2026 · Open Offer at Rs 19.40 for 26% stake in Neelkanth Rockminerals | strategic transactions | high | — | — |
| 8 Aug 2026 · Board meeting on 14 Aug 2026 to consider Q1 FY27 results | results | low | — | — |
| 15 Jul 2026 · Quarterly dematerialisation certificate submitted to BSE | compliance | minimal | — | — |
| 27 Jun 2026 · Insider trading code compliance disclosure under SEBI PIT Regulations | compliance | minimal | — | — |
| 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 |
| EVEREST INDUSTRIES LTD |
| 646 |
| — |
| 1.31 |
| — |
| (20.6) |
| (16.0) |
| 3.1 |
| 31.7 |
| MARBLE CITY INDIA LIMITED | 440 | 58.0 | 4.72 | 18.9 | 9.5 | 7.0 | — | 23.5 |
| SAHYADRI INDUSTRIES LTD | 429 | 9.6 | 1.06 | — | 7.1 | 9.4 | — | 16.1 |
| NIDHI GRANITES LTD. | 204 | 17.7 | 9.05 | 16.0 | 34.1 | 45.3 | — | 28.6 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 84.5 | 37.0 | 14 of 20 | 32% |
| P/B | 3.6 | 1.6 | 15 of 20 | 26% |
| ROCE | 3.8 | 2.8 | 10 of 22 | 57% |
| ROE | 2.8 | 2.8 | 11 of 21 | 50% |
| Debt / Equity | 0.0 | 0.1 | 2 of 21 | 75% |
| Profit growth | 224.5 | 83.2 | 5 of 19 | 78% |
| Market cap | 30 | 49 | 13 of 22 | 43% |
| 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.
