BSE: 512565
NEELKANTH LIMITED
Trades in agro commodities, primarily rice, through an 'Agro' segment, with an 'Others' segment currently inactive. FY26 revenue from operations of ₹3.2799 crore came entirely from the Agro segment and was concentrated in H1 — Q2 FY26 (period ended 30-Sep-2025) recorded Agro revenue of ₹1.9115 crore and Q3 FY26 (period ended 31-Dec-2025) recorded Agro revenue of ₹1.3684 crore, while Q1 and Q4 FY26 periods showed no Agro segment revenue. The 'Others' segment has generated no revenue across the periods shown. FY26 net profit was ₹0.2475 crore on total assets of ₹10.9921 crore and an EBITDA margin of 19.94%. Reported cost lines list materials at 0% of revenue, with employees at 4.9%, other operating expenses at 5.9%, and depreciation at 4.7%. The company is small enough to fall below SEBI's thresholds for several corporate governance and related-party disclosure requirements (paid-up capital ₹4.36 crore, net worth ₹9.60 crore), and has 2,334 shareholders. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Agro (100%), Others (0%). Small, low-volume agro commodity trading and distribution
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5 | 3 | 6 | 5 | 3 |
| EBITDA (ex other income) | 1 | 0 | 0 | 0 | 0 |
| margin % | 16.1 | 9.8 | 7.2 | 3.1 | 1.7 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | (0.26) | 0.42 | 0.69 | 0.02 | 0.57 |
| ROE % · ROCE % | 0.1 · 8.3 | 1.0 · 2.3 | 3.1 · 3.5 | 0.1 · 0.5 | 2.5 · 4.9 |
| Debt / equity (x) | 0.07 | 0.06 | 0.05 | 0.04 | 0.04 |
| Cash from operations | 16 | (0) | 0 | 1 | (0) |
| Capex | 0 | (0) | 0 | (1) | 0 |
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 | 0 | 2 | 1 | 3 | 0 | 2 | 1 | 0 |
| Profit before tax | (0) | (0) | (0) | 0 | (0) | 0 | 1 | (0) |
| Net profit | (0) | (0) | (0) | 0 | (0) | 0 | 0 | (0) |
| EPS (₹) | (0.26) | (0.13) | (0.12) | 0.52 | (0.33) | 0.34 | 0.95 | (0.39) |
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. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 27,525 | 16.2 | 2.64 | 12.8 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,740 | 17.3 | 3.65 | 16.5 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,896 | 16.6 | 4.31 | 11.3 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,653 | 25.4 | 4.27 | 19.0 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,104 | — | 12.27 | — | (0.0) | (0.0) | — | 45.0 |
| SHIV AUM STEELS LIMITED | 736 | 64.8 | 6.09 | 47.0 | 6.0 | 6.9 | — | 4.9 |
| The Yamuna Syndicate Ltd | 736 | 8.1 | 0.57 | 185.3 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 602 | 0.9 | — | 51.0 | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 64.0 | 13.9 | 110 of 130 | 16% |
| P/B | 1.6 | 0.9 | 94 of 150 | 38% |
| ROCE | 4.2 | 2.1 | 70 of 177 | 61% |
| ROE | 2.5 | 2.3 | 77 of 158 | 52% |
| Debt / Equity | 0.0 | 0.1 | 69 of 154 | 56% |
| Revenue growth | (100.0) | (8.6) | 127 of 135 | 0% |
| Profit growth | (174.2) | 0.6 | 135 of 157 | 14% |
| Market cap | 16 | 21 | 105 of 179 | 42% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Neelkanth says price rise is market driven, no info withheld | regulatory legal | medium | — | — |
| 8 Oct 2026 · Exchange seeks clarification on unusual share price movement | regulatory legal | high | — | — |
| 7 Oct 2026 · Routine quarterly compliance certificate from registrar | compliance | minimal | — | — |
| 26 Sept 2026 · Trading window closed from Oct 1, 2026 till Q2 results announcement | compliance | minimal | — | — |
| 22 Sept 2026 · 46th AGM voting results: Both resolutions passed with near-unanimous support | compliance | minimal | — | — |
| 21 Sept 2026 · 46th AGM of Neelkanth Limited held via video conferencing on Sep 21, 2026 | board shareholder meetings | low | — | — |
| 15 Sept 2026 · Neelkanth names KMP authorised for materiality decisions under SEBI LODR | compliance | minimal | — | — |
| 15 Sept 2026 · Mr Umang Bhanushali appointed as Company Secretary and Compliance Officer | management changes | medium | — | — |
| 29 Aug 2026 · Neelkanth Limited publishes 46th AGM notice in newspapers | compliance | minimal | — | — |
| 28 Aug 2026 · Neelkanth Limited submits Annual Report for FY 2025-26 | compliance | medium | — | — |
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.