BSE: 503635
SHREE SALASAR INVESTMENT LTD.
An investment and holding company listed on BSE under code 503635, operating primarily through real estate subsidiaries and partnership firms rather than from the standalone entity. On a consolidated basis, FY26 revenue of Rs 112.37 crore was driven by subsidiaries including Vin Care Realtors, Marine Drive Realtors and Hariyana Developers, along with several partnership firms; the standalone entity itself reported only Rs 153.08 lakh of revenue from operations in FY26 and actually swung to negative Rs 18.48 lakh in Q3 FY26. Consolidated profit after tax for FY26 was Rs 18.44 crore with an EBIT margin of 27.2% at the consolidated level. Materials and development-related inputs made up 68.6% of consolidated revenue at Rs 77.07 crore, consistent with a real estate construction/development cost base, while employee cost was just 2.4% and other opex 2.2%. The board has approved a preferential issue of up to 18,50,000 convertible warrants at Rs 175 each, aggregating Rs 32.375 crore, with 18,00,000 of these earmarked for the two promoters (Ajay Dilkush Sarupria and Shailesh Hingarh, 9,00,000 each) and is also seeking shareholder approval to raise the borrowing limit to Rs 500 crore. Operating cash flows remained negative on both standalone (Rs 820 lakh) and consolidated (Rs 1,072 lakh) bases for FY26, and consolidated total assets stood at Rs 27,729.62 lakh. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Revenue from Operations (consolidated, real estate subsidiaries and partnership firms) (100%). BSE-listed holding company whose earnings come from real estate subsidiaries and partnership firms; standalone entity is small and volatile
Exhibit 1: Financial summary, FY21–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY21 | FY22 | FY23 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 6 | 21 | 3 | 44 | 112 |
| EBITDA (ex other income) | 2 | 1 | 0 | 3 | 30 |
| margin % | 28.8 | 5.0 | 7.0 | 7.7 | 26.9 |
| Owners' profit | 1 | 0 | 0 | 2 | 18 |
| EPS, as reported (₹) | 4.34 | 1.43 | 0.29 | 3.51 | 52.90 |
| ROE % · ROCE % | 12.2 · 9.5 | 2.9 · 3.3 | 0.5 · 0.5 | 4.6 · 2.5 | 26.4 · 20.1 |
| Debt / equity (x) | 0.73 | 0.25 | 2.29 | 1.60 | 1.32 |
| Cash from operations | (17) | 2 | (35) | (27) | 17 |
| Capex | 0 | 0 | (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 | 9 | 12 | 16 | 20 | 32 | 31 | 30 | 28 |
| Profit before tax | 0 | 2 | 1 | 3 | 8 | 7 | 7 | 8 |
| Net profit | 0 | 1 | 0 | 2 | 6 | 5 | 5 | 6 |
| EPS (₹) | 0.30 | 3.82 | 0.64 | 3.54 | 7.94 | 7.72 | 14.54 | 8.12 |
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. % |
|---|---|---|---|---|---|---|---|---|
| CRISIL LTD | 33,999 | 38.5 | 10.39 | — | 13.7 | 16.1 | — | 30.6 |
| ONEMI TECHNOLOGY SOL LTD | 5,509 | 19.5 | 4.10 | 9.4 | 21.0 | 18.8 | — | 32.0 |
| GYFTR LIMITED | 1,234 | — | 2.54 | 37.9 | 4.5 | 5.3 | 32.8 | 4.3 |
| CENTRUM CAPITAL LIMITED | 969 | — | 0.74 | 9.7 | (21.4) | (2.5) | 49.7 | 29.7 |
| PRIME SECURITIES LIMITED | 968 | 172.9 | 3.78 | — | 5.1 | — | 25.7 | 19.0 |
| WEALTH FRST PORT. MG. LTD | 881 | 26.7 | 5.18 | 16.9 | 22.5 | 30.3 | — | 97.5 |
| REGENCY FINCORP LIMITED | 571 | 52.3 | 3.56 | — | 8.4 | — | — | 84.3 |
| STELLANT SECURITIES (INDIA) LT | 529 | — | 1687.57 | — | 18.2 | 18.2 | — | 56.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 7.9 | 19.0 | 17 of 76 | 77% |
| P/B | 3.0 | 1.0 | 85 of 105 | 19% |
| ROCE | 16.2 | 1.8 | 11 of 83 | 88% |
| ROE | 26.4 | 1.3 | 4 of 111 | 97% |
| Debt / Equity | 1.3 | 0.0 | 72 of 77 | 7% |
| EBITDA margin | 37.3 | 25.6 | 38 of 91 | 59% |
| Revenue growth | 38.9 | (4.1) | 25 of 85 | 71% |
| Profit growth | 130.3 | (0.2) | 19 of 109 | 83% |
| Market cap | 211 | 26 | 14 of 113 | 88% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Company Secretary resigns; successor appointed | management changes | high | — | — |
| 23 Oct 2026 · Company Secretary resigns; successor appointed and expansion plans approved | management changes | medium | — | — |
| 21 Oct 2026 · 18.5 lakh warrants allotted to promoters and two non-promoters | fund raising | high | — | — |
| 21 Oct 2026 · Warrants allotted to promoters and others on preferential basis | fund raising | high | — | — |
| 9 Oct 2026 · Company Secretary Ms. Dashmeet Kaur resigns from Shree Salasar Investments | management changes | medium | — | — |
| 9 Oct 2026 · Resignation of Company Secretary and Compliance Officer | management changes | high | — | — |
| 9 Oct 2026 · Quarterly dematerialisation certificate for July to September 2026 | compliance | minimal | — | — |
| 1 Oct 2026 · Statutory Auditor appointed for 5 years; director changes at AGM | management changes | medium | — | — |
| 1 Oct 2026 · Director regularization, re-appointment and statutory auditor appointment at AGM | management changes | medium | — | — |
| 1 Oct 2026 · Director regularization, re-appointment and new statutory auditor at AGM | 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.