Manufactures tungsten carbide products as a single business segment, classified under industrial products and capital goods. FY26 revenue stood at ₹9,627.95 lakhs, more than double the ₹4,198.64 lakhs earned in FY25. The cost structure is dominated by raw materials, which ran at 104.4% of revenue in FY26, with employee costs at 6.5% and other operating expenses at 8.5%. Despite the sharp revenue growth, the FY26 EBITDA margin came in at 3.4%, leaving the business with thin operating profitability. The business swung from a net loss of ₹232.58 lakhs in FY25 to a net profit of ₹206.12 lakhs in FY26. It is listed on BSE under Scrip Code 500360 with equity capital of 53,71,245 shares of ₹10 face value. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Tungsten Carbide Products. Single-segment industrial manufacturer with thin margins and a commodity-input cost base
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 36 | 40 | 60 | 42 | 96 |
| EBITDA (ex other income) | 0 | (0) | 1 | (1) | 3 |
| margin % | 0.3 | (0.6) | 2.4 | (2.5) | 3.1 |
| Owners' profit | (1) | (1) | 0 | (2) | 2 |
| EPS, as reported (₹) | (1.97) | (2.52) | 0.91 | 4.64 | 3.84 |
| ROE % · ROCE % | (4.7) · (2.1) | (6.3) · (3.7) | 2.2 · 4.5 | (11.9) · (6.8) | 9.5 · 12.0 |
| Debt / equity (x) | 0.10 | 0.16 | 0.06 | 0.34 | 0.00 |
| Cash from operations | (5) | (0) | 3 | (4) | 12 |
| Capex | (1) | (1) | (1) | (1) | (2) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11 | 9 | 12 | 10 | 10 | 16 | 21 | 49 |
| Profit before tax | (1) | (0) | (2) | 0 | (1) | 1 | 2 | 0 |
| Net profit | (1) | (0) | (2) | 0 | (1) | 1 | 2 | 1 |
| EPS (₹) | (1.07) | (0.88) | (3.00) | 0.31 | 2.63 | 2.33 | 2.93 | 1.21 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 45,150 | 93.8 | 24.06 | 77.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,717 | 82.8 | 10.02 | 53.5 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 30,536 | 55.7 | 6.84 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 23,496 | 67.9 | 4.93 | 33.3 | 7.6 | 9.8 | — | 17.1 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · Newspaper publication of 49th AGM notice and e-voting details | compliance | minimal | — | — |
| 3 Sept 2026 · Rapicut Carbides: AGM notice and Annual Report access letter to shareholders | compliance | minimal | — | — |
| 2 Sept 2026 · 49th Annual Report for FY 2025-26 filed with BSE | results | high | — | — |
| 2 Sept 2026 · 49th AGM on Sep 26, 2026; new auditors, borrowing limit hike to Rs 100 Cr | board shareholder meetings | low | — | — |
| 1 Sept 2026 · 49th AGM notice published in newspapers | compliance | minimal | — | — |
| 31 Aug 2026 · Company corrects typo in board meeting outcome filing on auditor appointment | management changes | medium | — | — |
| 31 Aug 2026 · Board Appoints Secretarial and Statutory Auditors | management changes | medium | — | — |
| 31 Aug 2026 · Rapicut Carbides appoints new Statutory and Secretarial Auditors | management changes | medium | — | — |
| 31 Aug 2026 · Rapicut Carbides board approves appointment of statutory and secretarial auditors | management changes | medium | — | — |
| 8 Aug 2026 · Updated Contact Details of Key Managerial Personnel | 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 |
| JYOTI CNC AUTOMATION LTD | 22,490 | 69.9 | 11.24 | 39.7 | 16.8 | 19.2 | — | 22.2 |
| LMW LIMITED | 19,058 | 109.1 | 6.65 | 61.8 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 12,982 | 455.9 | 3.81 | 38.8 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,285 | 48.3 | 7.30 | 50.1 | 11.7 | 11.5 | — | 15.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 37.6 | 26.9 | 87 of 138 | 37% |
| P/B | 8.5 | 3.5 | 88 of 111 | 21% |
| ROCE | 9.3 | 11.3 | 86 of 144 | 41% |
| ROE | 9.5 | 9.5 | 59 of 117 | 50% |
| Debt / Equity | 0.0 | 0.2 | 4 of 117 | 78% |
| EBITDA margin | 1.3 | 12.4 | 97 of 110 | 12% |
| Revenue growth | 370.6 | 20.6 | 3 of 114 | 98% |
| Profit growth | 93.9 | 17.1 | 30 of 109 | 73% |
| Market cap | 184 | 356 | 84 of 140 | 40% |
| 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.
