NSE: PACIFICI · BSE: 523483
PACIFIC INDUSTRIES LTD.
Quarries, processes and sells granite and quartz stone products, generating almost all of its revenue from a single stone segment. In the quarter ended 30 June 2025, the Stone - Granite and Quartz segment contributed 51.39 crore, or 98.6% of segment revenue, with the remainder coming from an Investment & Finance line. FY26 total revenue stood at 154.47 crore with EBITDA margin of 9.84%. The cost base is dominated by raw materials at 56.4% of revenue, followed by other operating expenses (22.0%), employee cost (6.9%) and depreciation (6.3%); capex was 2.4% of revenue. The company is based in Udaipur and consolidates three wholly-owned subsidiaries — Gist Minerals Technologies Limited, Gaze Fashiontrade Limited and the US-based Taanj Quartz INC. Its shares are listed on BSE under security code 523483. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Stone - Granite and Quartz (99%), Investment & Finance (1%). Asset-heavy, single-segment natural stone processor with a small investment income line.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 284 | 187 | 190 | 244 | 154 |
| EBITDA (ex other income) | 26 | 7 | 11 | 13 | 9 |
| margin % | 9.2 | 3.8 | 5.6 | 5.2 | 5.6 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 46.19 | 17.06 | 17.23 | 11.10 | 2.89 |
| ROE % · ROCE % | 4.3 · 6.3 | 1.5 · 2.7 | 2.7 · 3.7 | 1.7 · 3.3 | 0.4 · 1.2 |
| Debt / equity (x) | 0.20 | 0.13 | 0.12 | 0.17 | 0.13 |
| Cash from operations | 6 | 11 | 36 | 0 | 7 |
| Capex | (7) | (7) | (13) | (6) | (4) |
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 | 59 | 63 | 63 | 60 | 50 | 40 | 27 | 39 |
| Profit before tax | 3 | 3 | 2 | 2 | 1 | 0 | (1) | 1 |
| Net profit | 2 | 2 | 1 | 2 | 1 | 0 | 0 | 0 |
| EPS (₹) | 2.51 | 3.33 | 1.91 | 3.35 | 1.34 | 0.47 | 0.54 | 0.53 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| A. Stone- Granite and Quartz | 51 | 98.6 |
| B. Investment & Finance | 1 | 1.4 |
| Total, before eliminations | 52 | 100.0 |
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. % |
|---|---|---|---|---|---|---|---|---|
| MIDWEST LIMITED | 4,082 | 35.4 | 4.17 | 22.2 | 10.9 | 12.5 | — | 28.6 |
| POKARNA LIMITED | 2,062 | 21.7 | 2.41 | 13.0 | 9.4 | 8.4 | 14.1 | 39.2 |
| GLOBAL SURFACES LIMITED | 106 | — | 0.39 | 25.6 | (11.8) | (6.2) | — | 13.0 |
| PACIFIC INDUSTRIES LTD. ◆ | 90 | 45.5 | 0.20 | 9.7 | 0.4 | 0.3 | (2.8) | 10.3 |
| ELEGANT MARBLES & GRANI INDUST | 47 | 14.1 | 0.38 | — | 2.7 | 3.8 | — | 10.9 |
| ROYAL CUSHION VINYL PRODUCTS L | 46 | — | — | — | 21.7 | 197.6 | — | (38.1) |
| ARO GRANITE IND. LTD. | 35 | — | 0.20 | — | (6.8) | (5.4) | — | (10.1) |
| ORIENTAL TRIMEX LTD | 32 | 10.4 | 0.32 | — | 1.8 | 2.8 | — | 18.9 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 45.5 | 21.7 | 5 of 5 | 0% |
| P/B | 0.2 | 0.3 | 1 of 8 | 86% |
| ROCE | 0.3 | 2.8 | 7 of 9 | 25% |
| ROE | 0.5 | 1.1 | 5 of 8 | 43% |
| Debt / Equity | 0.1 | 0.1 | 4 of 8 | 57% |
| EBITDA margin | 10.3 | 10.9 | 6 of 9 | 38% |
| Revenue growth | (35.4) | (6.8) | 8 of 8 | 0% |
| Profit growth | (84.1) | (68.2) | 5 of 8 | 43% |
| Market cap | 90 | 47 | 4 of 9 | 63% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 13 Oct 2026 · Quarterly Dematerialisation Compliance Certificate for Q2 FY27 | compliance | minimal | — | — |
| 26 Sept 2026 · Trading window closed from Oct 1 for Q2 results | compliance | minimal | — | — |
| 23 Sept 2026 · Pacific Industries holds 37th AGM, two ordinary resolutions passed | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Pacific Industries sets 37th AGM on September 23, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 26 Aug 2026 · 37th Annual Report FY26: Revenue declines, no dividend | results | high | — | — |
| 26 Aug 2026 · Board approves FY26 annual report; 37th AGM set for Sept 23, 2026 | compliance | low | — | — |
| 26 Aug 2026 · Board outcome: 37th AGM on Sept 23, 2026 via video conferencing | board shareholder meetings | medium | — | — |
| 26 Aug 2026 · Board approves AGM notice and register closure for FY26 | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Board Meeting on 26 Aug 2026 to consider AGM matters | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Pacific Industries Q1 FY27 results filed, clean auditor review | results | high | — | — |
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.