Operates as a Non-Banking Financial Company (NBFC) based in Coimbatore, Tamil Nadu, earning revenue primarily through interest income on loans extended to borrowers. Total income for FY26 stood at Rs 371.21 lakhs, up 42.7% year-on-year, with net profit after tax of Rs 33.37 lakhs and EPS of Rs 0.67. The lending business reports a debt-equity ratio of 1.40 and a capital adequacy ratio of 40.87%. Stage 3 (non-performing) loan assets stood at 3.48% of gross loans with a provision coverage ratio of 90.10%. Employee costs are the largest operating expense at 29.1% of revenue, followed by other operating expenses at 16.1%. Operating cash flow turned negative at Rs 216.66 lakhs in FY26 due to significant increases in loans and other financial assets, with funding supplemented by a Rights Issue of up to Rs 757.50 lakhs (3:2 entitlement ratio) and Secured Unlisted Redeemable NCDs of up to Rs 50 lakhs at 12% per annum, payable monthly, with a maximum tenure of 60 months. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Interest income on loans. Small, SME-listed NBFC, asset-light lending business with negative operating cash flow driven by loan-book expansion
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 1 | 2 | 3 | 4 |
| EBITDA (ex other income) | 0 | (0) | (0) | 1 | 1 |
| margin % | 0.2 | (17.2) | (10.9) | 35.9 | 32.1 |
| Owners' profit | (0) | (0) | (1) | 0 | 0 |
| EPS, as reported (₹) | (0.42) | (0.29) | (2.05) | 0.39 | 0.67 |
| ROE % · ROCE % | (5.2) · — | (3.0) · — | (24.2) · — | 3.3 · — | 5.7 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (0) | (3) | (5) | (2) | (2) |
| Capex | (0) | (0) | (0) | 0 | 0 |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | (0) | 0 | 0 |
| Net profit | 0 | 0 | 0 | 0 | 0 | (0) | 0 | 0 |
| EPS (₹) | 0.10 | 0.35 | 0.58 | 0.41 | 0.22 | (0.21) | 0.26 | 0.28 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| INTL GEMOLOGICAL INST LTD | 13,611 | 22.3 | 9.15 | 13.1 | 47.8 | 58.1 | — | 64.6 |
| WEWORK INDIA MANAGEMENT L | 9,297 | 106.7 | 31.07 | 5.9 | 25.0 | 1.0 | — | 66.5 |
| NESCO LTD. | 7,728 | 18.6 | 2.58 | 13.1 | 13.8 | 14.8 | 26.2 | 68.9 |
| INOX GREEN ENERGY SER LTD | 7,175 | 57.5 | 4.18 | 42.6 | 6.0 | 9.0 | — | 131.6 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Newspaper ads published for Rights Issue completion details | compliance | minimal | — | — |
| 9 Sept 2026 · Board approves allotment of 75.75 lakh rights equity shares | corporate actions | high | — | — |
| 26 Aug 2026 · Newspaper publication of AGM notice and e-voting details | compliance | minimal | — | — |
| 25 Aug 2026 · 32nd Annual Report FY26 dispatched; AGM on Sep 18 via video conferencing | compliance | medium | — | — |
| 25 Aug 2026 · SI Capital 32nd AGM notice on 18 Sep 2026, NCD issue and MD pay revision | board shareholder meetings | low | — | — |
| 25 Aug 2026 · 32nd AGM Notice: NCD Issuance Upto Rs 10 Cr, MD Pay Revision on Agenda | board shareholder meetings | low | — | — |
| 20 Aug 2026 · Board clears Rs 10 Cr NCD plan, FY26 annual report; MD pay hiked | fund raising | medium | — | — |
| 20 Aug 2026 · Board okays Rs 10 Cr NCD plan, hikes MD pay | fund raising | medium | — | — |
| 17 Aug 2026 · Board to consider NCD issuance and approve annual report on Aug 20 | fund raising | medium | — | — |
| 6 Aug 2026 · SI Capital rights issue newspaper ad published | 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 |
| SMARTWORKS COWORKING SP L |
| 6,079 |
| 218.0 |
| 11.45 |
| 5.1 |
| 2.0 |
| 0.3 |
| — |
| 65.8 |
| NIRLON LTD | 5,526 | 16.0 | 11.79 | — | 73.8 | 18.1 | — | 79.4 |
| QUESS CORP LIMITED | 5,174 | 20.4 | 4.43 | 15.6 | 19.0 | 14.4 | 7.1 | 2.6 |
| INDIQUBE SPACES LIMITED | 4,272 | — | 8.30 | — | (20.7) | (2.5) | — | 67.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 24.6 | 14.3 | 61 of 89 | 32% |
| P/B | 1.2 | 1.5 | 36 of 92 | 62% |
| ROE | 5.7 | 3.1 | 45 of 116 | 62% |
| Debt / Equity | 0.0 | 0.0 | 3 of 116 | 60% |
| EBITDA margin | 35.0 | 25.4 | 38 of 92 | 59% |
| Revenue growth | 27.8 | 16.2 | 36 of 91 | 61% |
| Profit growth | (29.7) | 5.2 | 77 of 110 | 30% |
| Market cap | 7 | 56 | 91 of 104 | 13% |
| 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.
