BSE: 512097
SAIANAND COMMERCIAL LIMITED
Classified by its exchange as a Trading & Distributors entity, the company reports a single operating segment but recorded zero revenue from operations in each of the first three quarters of FY26, indicating its core trading activity has wound down. The bulk of income now flows from 'Other Operating Income' of Rs. 143.88 lakhs in 9M FY26, which filings describe as appearing to be interest and investment income. Total income for the half year ended September 2025 was Rs. 129.65 lakhs, almost entirely from this other income line. The balance sheet is dominated by investments of Rs. 2,700.60 lakhs as the largest asset within Rs. 4,034.04 lakhs of total assets, with shareholders' funds of Rs. 4,029.46 lakhs. Operating costs have collapsed to Rs. 28.86 lakhs in 9M FY26 from Rs. 259.96 lakhs a year earlier because there are no material costs. Profitability is now driven by returns on its investment book rather than any trading margin. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Other Operating Income (interest/investment income), Revenue from operations. Inactive trading shell now functioning as an investment-holding entity earning interest and investment income.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 9 | 5 | 4 | 0 |
| EBITDA (ex other income) | 0 | 0 | (0) | 0 | (0) |
| margin % | 4.1 | 0.1 | (6.1) | 9.0 | — |
| Owners' profit | 0 | (1) | 1 | 0 | 0 |
| EPS, as reported (₹) | 0.01 | (0.05) | 0.03 | 0.02 | 0.01 |
| ROE % · ROCE % | 0.0 · 0.0 | (2.8) · (2.8) | 1.9 · 2.0 | 0.9 · 0.9 | 0.4 · 0.8 |
| Debt / equity (x) | 0.24 | 0.00 | 0.00 | 0.06 | 0.00 |
| Cash from operations | (8) | 5 | (3) | (5) | 25 |
| Capex | 0 | 0 | 0 | 0 | 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 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | (0) | 1 | (1) | 0 | 1 | 0 | (1) |
| Net profit | 0 | (0) | 1 | (1) | 0 | 1 | 0 | (1) |
| EPS (₹) | 0.01 | 0.00 | 0.03 | (0.02) | 0.01 | 0.04 | 0.00 | (0.04) |
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) | 21.0 | 13.9 | 86 of 130 | 34% |
| P/B | 0.1 | 0.9 | 8 of 150 | 95% |
| ROCE | 0.5 | 2.1 | 116 of 177 | 35% |
| ROE | 0.4 | 2.3 | 106 of 158 | 33% |
| Debt / Equity | 0.0 | 0.1 | 1 of 154 | 73% |
| Revenue growth | (100.0) | (8.6) | 127 of 135 | 0% |
| Profit growth | (71.2) | 0.6 | 111 of 157 | 30% |
| Market cap | 5 | 21 | 165 of 179 | 8% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Board to approve Q2 and half-year results on 31 October 2026 | results | low | — | — |
| 6 Oct 2026 · Quarterly demat certificate filed with BSE under SEBI Regulation 74(5) | compliance | minimal | — | — |
| 26 Sept 2026 · AGM voting results - 2 resolutions passed with thin margins | board shareholder meetings | low | — | — |
| 25 Sept 2026 · 42nd AGM proceedings: financial statements adopted, director re-appointed | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Trading window closure ahead of Q2 FY27 results | compliance | minimal | — | — |
| 2 Sept 2026 · Saianand Commercial files FY26 Annual Report; revenue tumbles 82 percent, no operations | results | high | — | — |
| 2 Sept 2026 · Book closure for Annual General Meeting | corporate actions | low | — | — |
| 2 Sept 2026 · 42nd AGM notice on 25 Sept 2026; financial statements and director reappointment | board shareholder meetings | low | — | — |
| 6 Aug 2026 · Q1 FY27 results: Revenue down 80% YoY, swings to loss | results | medium | — | — |
| 6 Aug 2026 · Q1 FY26 results: Revenue drops to 6.59 lacs, swings to net loss of 2.61 lacs | results | 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.