BSE: 539543
Valley Magnesite Company Limit
Classified as an investment company in the Financial Services sector, the entity reports its income entirely from non-operational sources. Revenue from operations was nil across Q3 FY26 and the nine-month period, with all ₹22.46 lakh in Q3 FY26 and ₹134.34 lakh for 9M FY26 booked as 'other income' — indicating that earnings are driven by investment and treasury activity rather than any core business. For full year FY26, total income stood at ₹46.86 lakh and net profit at ₹16.18 lakh, with basic and diluted EPS of ₹1.54. The cost base consists of employee expenses at 39.6% of revenue and other operating expenses at 45.2%, with no material input costs and no capital expenditure. The company is small by listed-company standards, with paid-up equity capital of ₹1.05 crore and net worth of ₹9.32 crore, which places it below SEBI thresholds for several disclosure requirements. The Board has not recommended any dividend, and has approved voluntary delisting of equity shares from the Calcutta Stock Exchange while continuing to remain listed on BSE. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Other income (investment/treasury). Small, non-operational investment company with treasury-driven income
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| EBITDA (ex other income) | (0) | (0) | (0) | (0) | 0 |
| margin % | — | — | — | — | 15.1 |
| Owners' profit | 0 | 1 | 1 | 0 | 0 |
| EPS, as reported (₹) | 3.25 | 4.79 | 10.98 | 3.74 | 1.54 |
| ROE % · ROCE % | 4.8 · 7.5 | 6.6 · 8.4 | 13.1 · 18.7 | 4.3 · 3.0 | 1.7 · 0.7 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (0) | (0) | (0) | (0) | (1) |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | (1) | 0 |
| Profit before tax | 0 | (0) | (0) | 1 | (0) | 0 | (1) | 1 |
| Net profit | 0 | (0) | (0) | 1 | 0 | 0 | (1) | 1 |
| EPS (₹) | 4.05 | (0.80) | (3.88) | 8.57 | 0.46 | 0.96 | (8.45) | 5.58 |
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. % |
|---|---|---|---|---|---|---|---|---|
| JIO FIN SERVICES LTD | 1,35,496 | 63.7 | 1.01 | — | 1.2 | — | — | 70.7 |
| ADITYA BIRLA CAPITAL LTD. | 97,598 | 22.8 | 2.65 | — | 10.5 | — | 18.8 | 40.8 |
| L&T FINANCE LIMITED | 61,858 | 19.4 | 2.21 | — | 10.6 | — | 5.5 | 62.3 |
| TATA INVESTMENT CORP LTD | 28,442 | 66.0 | 0.97 | — | 1.5 | — | 19.5 | 92.6 |
| CHOLAMANDALAM FIN HOL LTD | 24,545 | 9.2 | 0.72 | — | 16.2 | — | 23.0 | 58.4 |
| TVS HOLDINGS LIMITED | 23,883 | 12.1 | 1.85 | — | 26.3 | — | 23.4 | 16.4 |
| MAHARASHTRA SCOOTERS LTD | 13,373 | 48.0 | 0.48 | — | 1.1 | — | — | 84.1 |
| JSW HOLDINGS LIMITED | 12,440 | 90.6 | 0.38 | — | 0.4 | — | 14.1 | 84.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.1 | 0.6 | 5 of 63 | 94% |
| ROCE | 0.7 | 0.4 | 13 of 28 | 56% |
| ROE | 1.7 | 1.3 | 29 of 65 | 56% |
| Debt / Equity | 0.0 | 0.0 | 1 of 27 | 39% |
| Profit growth | (34.9) | 10.7 | 45 of 66 | 32% |
| Market cap | 1 | 273 | 67 of 68 | 2% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to approve September 2026 quarter and half-year results | results | low | — | — |
| 9 Oct 2026 · RTA files demat compliance certificate for September quarter | compliance | minimal | — | — |
| 1 Oct 2026 · No NCD obligations; compliance filing under Reg 57(5) | compliance | minimal | — | — |
| 23 Sept 2026 · Trading window closure from Oct 1 for Q2 results | compliance | minimal | — | — |
| 22 Sept 2026 · 38th AGM voting results - all resolutions passed unanimously | board shareholder meetings | low | — | — |
| 21 Sept 2026 · 38th AGM held; financial statements adopted, director re-appointed | board shareholder meetings | low | — | — |
| 21 Sept 2026 · 38th AGM held; 2 resolutions voted on via e-voting and ballot | board shareholder meetings | low | — | — |
| 10 Sept 2026 · AGM notice published in newspapers; 38th AGM set for 21 September 2026 | compliance | minimal | — | — |
| 26 Aug 2026 · Notice of 38th AGM on September 21, 2026 | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Valley Magnesite FY26 annual report filed; PAT drops 59% to Rs 1.62L | results | high | — | — |
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.