BSE: 512115
ROSE MERC.LTD.
A BSE-listed services company classified in Trading & Distributors reported FY26 revenue of Rs 88.48 crore with an EBITDA margin of 21.18% and net profit of Rs 17.84 crore. Its cost shape has zero materials cost, with employee costs at 9.2% of revenue and other operating expenses at 12.8%, indicating a service-led cost base rather than goods trading. The filings outline a strategic shift: the objects clause of the MoA was altered from water and energy to FinTech activities (Payment Aggregator, Prepaid Payment Instruments, payment gateway), and a 30.01% controlling stake was taken in Virtual Gain Technologies, whose Pezon brand runs digital payment solutions through an FIU-approved TSP framework with HDFC Bank, RBL Bank and YES BANK. Virtual's own FY26 turnover was Rs 1.24 crore. Through subsidiary Emirates Holding FZ LLC, the entity organised the 2026 Emirates Awards and Emirates Luxury Show in Dubai with partners PEZON and CineKorn Entertainment. A freehold bungalow in Lonavala, Pune (~1,721 sq ft built-up on 258 sqm of land) was acquired for Rs 1.30 crore for business purposes. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading & Distribution services, FinTech via Virtual Gain Technologies (Pezon), Events via Emirates Holding FZ LLC. Small-cap services and trading entity pivoting from water/energy objects into FinTech and events
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 5 | 79 | 88 |
| EBITDA (ex other income) | (0) | 17 | 18 |
| margin % | (2.1) | 21.0 | 20.8 |
| Owners' profit | 0 | 0 | 12 |
| EPS, as reported (₹) | 0.86 | 1.16 | 9.54 |
| ROE % · ROCE % | 2.0 · 2.0 | 20.4 · 20.6 | 20.5 · 20.8 |
| Debt / equity (x) | 0.00 | 0.02 | 0.03 |
| Cash from operations | (4) | (3) | 12 |
| Capex | 0 | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 3 | 74 | 22 | 17 | 21 | 28 | 28 |
| Profit before tax | 0 | 0 | 16 | 6 | 4 | 3 | 5 | 6 |
| Net profit | 0 | 0 | 16 | 6 | 4 | 3 | 5 | 5 |
| EPS (₹) | 0.09 | 0.93 | 1.42 | 3.35 | 1.95 | 1.44 | 3.27 | 2.99 |
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 | 25,680 | 13.8 | 2.36 | 12.2 | 8.0 | 10.8 | 15.9 | 2.0 |
| MMTC LIMITED | 8,018 | 17.9 | 3.78 | — | 18.3 | 21.6 | (83.7) | (2969.1) |
| MSTC LIMITED | 4,160 | 17.8 | 4.60 | 16.7 | 24.2 | 31.8 | (13.9) | 61.3 |
| CREATIVE NEWTECH LIMITED | 1,993 | 28.0 | 4.64 | 26.8 | 9.2 | 10.3 | — | 5.0 |
| Pervasive Commodities Limited | 1,182 | 77.2 | 13.13 | — | 0.0 | 0.0 | — | 1.9 |
| The Yamuna Syndicate Ltd | 774 | 8.5 | 0.60 | 508.1 | 4.0 | 0.3 | 4.8 | 3.4 |
| SHIV AUM STEELS LIMITED | 748 | 65.8 | 6.19 | 54.1 | 6.0 | 6.9 | — | 4.7 |
| THE STATE TRADING CORPN | 624 | 0.9 | — | — | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 4.1 | 14.7 | 21 of 132 | 85% |
| P/B | 0.3 | 0.9 | 22 of 151 | 85% |
| ROCE | 20.2 | 1.6 | 13 of 175 | 93% |
| ROE | 20.5 | 2.0 | 10 of 158 | 94% |
| Debt / Equity | 0.0 | 0.1 | 64 of 156 | 59% |
| EBITDA margin | 19.1 | 2.3 | 17 of 146 | 89% |
| Revenue growth | 24.3 | (8.6) | 37 of 135 | 73% |
| Profit growth | (12.7) | 1.7 | 90 of 160 | 44% |
| Market cap | 26 | 21 | 80 of 178 | 55% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 5 Nov 2026 · Board to review September quarter and half-year results | results | low | — | — |
| 5 Nov 2026 · Board to approve consolidated September 2026 quarter and half-year results | results | low | — | — |
| 3 Nov 2026 · Rose Merc signs five-year marketing and sales collaboration with CATS Eco Systems | strategic transactions | medium | — | — |
| 3 Nov 2026 · Rose Merc signs five-year marketing and sales collaboration with CATS Eco Systems | strategic transactions | medium | — | — |
| 26 Oct 2026 · Consultancy signed for Fintech business development and marketing | business updates | low | — | — |
| 23 Oct 2026 · Harshee Anil Haria crosses 5% via employee option allotment | ownership changes | medium | — | — |
| 19 Oct 2026 · Rose Merc allots 80,000 shares under ESOP 2023 and 2024 schemes | capital market events | low | — | — |
| 19 Oct 2026 · Rose Merc board appoints Executive Director, restructures committees | management changes | medium | — | — |
| 19 Oct 2026 · Rose Merc appoints Niti Trivedi as Executive Director, restructures committees | management changes | medium | — | — |
| 19 Oct 2026 · Board appoints new Executive Director, advisor; reconstitutes committees | management changes | 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.