BSE: 503624
SVARAJ TRADING & AGENCIES LTD.
Develops an automated roti-making machine called the 'Roti Master' through a small BSE-listed entity classified under Other Financial Services. As of FY26, the product is still in the R&D phase, with no commercial production having begun. The company's Rs 41.20 crore of total assets are largely tied up in this project — Rs 4.8 crore of plant machinery sits under capital work-in-progress, Rs 2 crore is recorded as capitalised intellectual property rights, and Rs 4.4 crore of inventory is held. FY26 revenue from operations was Rs 1.22 crore, up from a much smaller base the previous year, while net profit was Rs 0.56 crore. With materials at 0% of revenue, the cost base is dominated by employee expenses at 39.2% of revenue, followed by depreciation at 15.8% and other operating expenses at 14.3%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Roti Master machinery project. Pre-revenue R&D-stage food machinery development, with assets largely tied up in CWIP, capitalised IP and inventory
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 0 | 0 | 0 | 1 |
| EBITDA (ex other income) | 0 | (0) | (0) | (1) | 1 |
| margin % | 37.7 | — | — | — | 46.6 |
| Owners' profit | 1 | (0) | (0) | (1) | 1 |
| EPS, as reported (₹) | 0.35 | (0.06) | 0.00 | (0.48) | 0.38 |
| ROE % · ROCE % | 1.0 · 1.3 | (0.1) · (0.1) | (0.0) · 0.1 | (1.2) · (1.2) | 1.4 · 1.3 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 2 | (9) | 7 | (1) | 1 |
| Capex | (9) | 0 | (5) | (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 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Profit before tax | (0) | (0) | (0) | 1 | (0) | (0) | (0) | (0) |
| Net profit | (0) | (0) | (0) | 1 | (0) | (0) | (0) | (0) |
| EPS (₹) | (0.10) | (0.10) | (0.16) | 0.69 | (0.14) | (0.15) | (0.03) | (0.13) |
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/B | 0.3 | 1.0 | 18 of 105 | 83% |
| ROCE | 1.3 | 1.8 | 46 of 83 | 45% |
| ROE | 1.4 | 1.3 | 54 of 111 | 52% |
| Debt / Equity | 0.0 | 0.0 | 1 of 77 | 55% |
| Revenue growth | (100.0) | (4.1) | 76 of 85 | 2% |
| Profit growth | (119.0) | (0.2) | 93 of 109 | 15% |
| Market cap | 11 | 26 | 84 of 113 | 26% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · RTA confirms share dematerialisation certificate for September 2026 quarter | compliance | minimal | — | — |
| 30 Sept 2026 · 46th AGM concluded; both resolutions passed with near-unanimous approval | board shareholder meetings | medium | — | — |
| 30 Sept 2026 · 46th AGM held on Sep 30, 2026; both resolutions passed | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Trading Window Closure Ahead of Q2 and Half-Year FY26 Results | compliance | minimal | — | — |
| 7 Sept 2026 · Svaraj Trading 46th AGM notice and e-voting details published in newspapers | compliance | minimal | — | — |
| 5 Sept 2026 · Svaraj Trading asks physical shareholders to update KYC details | compliance | minimal | — | — |
| 5 Sept 2026 · AGM notice: 46th AGM on September 30, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 5 Sept 2026 · 46th AGM notice on Sept 30, 2026; director reappointment on agenda | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Annual Report FY2025-26 and 46th AGM Notice | compliance | medium | — | — |
| 5 Sept 2026 · 46th AGM on Sep 30, 2026 via VC; book closure Sep 24-30, 2026 | board shareholder meetings | low | — | — |
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.