BSE: 539922
Novalum Materials Limited
Operates as a trading and distribution business in the commercial services sector, listed on BSE with FY26 total assets of Rs 16.8742 crore. The cost structure shows no direct material costs, with other operating expenses at 1.9% of revenue and employee costs at 0.5% of revenue. Total income rose sharply year-on-year in FY26, from Rs 90.99 lakhs to Rs 4,256.44 lakhs, which the filings attribute to a recent acquisition, though specifics of that acquired business are not detailed in the available facts. The board has approved acquiring up to 51% of Teneron Limited, a recycled aluminium platform with over 48,000 TPA capacity that supplies 50% of Suzuki Motor Gujarat's aluminium alloy needs and works with over 80 international aggregators and over 40 domestic suppliers. The Teneron deal is structured as a related-party transaction subject to shareholder approval at the August 2026 AGM, alongside a proposed name change to Novalum Materials Limited. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading & Distribution. Small, low-margin trading and distribution business pursuing aluminium recycling pivot via related-party acquisition
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 1 | 41 |
| EBITDA (ex other income) | 0 | (0) | (0) | 0 | (0) |
| margin % | 3.0 | (60.9) | (31.1) | 8.2 | (0.3) |
| Owners' profit | 0 | 0 | (0) | 0 | 1 |
| EPS, as reported (₹) | 0.03 | 0.04 | (0.17) | 0.32 | 0.67 |
| ROE % · ROCE % | 0.3 · 0.5 | 0.4 · 0.6 | (1.7) · (1.9) | 2.8 · 4.1 | 5.8 · 7.7 |
| Debt / equity (x) | 0.02 | 0.01 | 0.01 | 0.01 | 0.05 |
| Cash from operations | (0) | 0 | (0) | 1 | 0 |
| Capex | 0 | 0 | 0 | 0 | (1) |
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 | 0 | 0 | 1 | 10 | 12 | 10 | 8 |
| Profit before tax | (0) | (0) | (0) | 0 | 0 | 0 | 0 | 0 |
| Net profit | (0) | (0) | (0) | 0 | 0 | 0 | 0 | 0 |
| EPS (₹) | (0.03) | (0.11) | (0.01) | 0.05 | 0.15 | 0.28 | 0.17 | 0.05 |
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 | 30,351 | 17.8 | 2.91 | 14.1 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 8,166 | 18.3 | 3.85 | 17.4 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 4,696 | 20.0 | 5.20 | 13.9 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,593 | 24.5 | 4.11 | 18.4 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,178 | — | 13.10 | — | (0.0) | (0.0) | — | 45.0 |
| The Yamuna Syndicate Ltd | 755 | 8.3 | 0.59 | 190.1 | 4.0 | 0.3 | 4.8 | 6.2 |
| SHIV AUM STEELS LIMITED | 748 | 65.8 | 6.19 | 47.7 | 6.0 | 6.9 | — | 4.9 |
| SHANKARA BUILDPRO LIMITED | 609 | 4.6 | 1.12 | 2.7 | 23.4 | 31.8 | — | 3.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 69.5 | 15.8 | 112 of 130 | 14% |
| P/B | 4.0 | 1.0 | 125 of 150 | 17% |
| ROCE | 7.7 | 2.1 | 47 of 177 | 74% |
| ROE | 5.8 | 2.3 | 56 of 158 | 65% |
| Debt / Equity | 0.1 | 0.1 | 73 of 154 | 53% |
| EBITDA margin | 2.6 | 4.5 | 86 of 137 | 38% |
| Revenue growth | 947.1 | (8.6) | 2 of 135 | 99% |
| Profit growth | (58.1) | 0.6 | 102 of 157 | 35% |
| Market cap | 59 | 22 | 55 of 180 | 70% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 30 Sept 2026 · Trading window closed ahead of Q2 FY26 results | compliance | minimal | — | — |
| 25 Aug 2026 · New ISIN activated after stock sub-division to Rs 2 face value | corporate actions | medium | — | — |
| 19 Aug 2026 · Stock split record date fixed at August 28, 2026 | corporate actions | medium | — | — |
| 12 Aug 2026 · Q1 FY27 net profit jumps to Rs 45.40 lakh on strong revenue growth | results | high | — | — |
| 12 Aug 2026 · Rotographics Q1 FY27 results: revenue up 38% YoY, PAT jumps 129% | results | high | — | — |
| 8 Aug 2026 · Board Meeting on 12 Aug 2026 to Approve Q1 FY27 Results | board shareholder meetings | low | — | — |
| 7 Aug 2026 · AGM on 6 Aug: 11 resolutions passed including stock split and Teneron acquisition | board shareholder meetings | low | — | — |
| 7 Aug 2026 · AGM results: 11 resolutions passed including stock split and Teneron acquisition | board shareholder meetings | low | — | — |
| 6 Aug 2026 · AGM approves name change to Novalum Materials, stock split, capital hike | general | medium | — | — |
| 6 Aug 2026 · Stock split, name change to Novalum Materials, and capital hike approved at AGM | general | 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.