Carries no revenue from operations in FY26 (Rs 0, down from Rs 8.89 lakh in FY25), with total income of Rs 10.37 lakh for the year coming entirely from 'other income'. The company's NBFC licence was cancelled in September 2018 and its appeal was dismissed in June 2020, which the statutory auditor flagged as a factor that will adversely affect future operations. The entity operates in a single segment, has no outstanding debt, and runs on a very small capital base against total assets of Rs 1.97 crore. Total expenses in Q3 FY26 were just Rs 0.55 lakh, yielding profit after tax of Rs 1.69 lakh for the quarter. Board filings describe only routine compliance matters — share transfer certificates, trading window closures, AGM notices, and promoter share-sale disclosures — with no material operating activity disclosed. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Other income. Non-operating small-cap entity with a cancelled NBFC licence
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| EBITDA (ex other income) | 0 | (0) | (0) | (0) | (0) |
| margin % | 19.1 | (37.3) | (207.4) | — | — |
| Owners' profit | 0 | (0) | (0) | 0 | 0 |
| EPS, as reported (₹) | 0.17 | (0.29) | (2.28) | 0.08 | 0.27 |
| ROE % · ROCE % | 0.8 · 1.1 | (1.4) · (1.9) | (12.7) · (17.4) | 0.4 · 0.7 | 1.4 · 1.9 |
| Debt / equity (x) | 0.06 | 0.01 | 0.01 | 0.01 | 0.01 |
| Cash from operations | (0) | (0) | 0 | (0) | (0) |
| Capex | 0 | 0 | 0 | 0 | 0 |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | (0) | 0 | 0 | 0 | (0) | 0 | 0 |
| Net profit | 0 | (0) | 0 | 0 | 0 | (0) | 0 | 0 |
| EPS (₹) | 0.11 | (0.23) | 0.17 | 0.03 | 0.23 | 0.20 | 0.18 | 0.06 |
| 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 % |
|---|---|---|---|---|
| 2 Sept 2026 · Promoter Deepak Aggarwal exits entire 2.01 percent stake in Vinayak Vanijya | ownership changes | high | — | — |
| 2 Sept 2026 · Promoter Deepak Aggarwal sells entire 2.01 percent stake in Vinayak Vanijya | ownership changes | medium | — | — |
| 21 Aug 2026 · Vinayak Vanijya appoints Ms. Manshi Sharma as Independent Director | management changes | medium | — | — |
| 21 Aug 2026 · Appoints Ms. Manshi Sharma as Independent Director | management changes | medium | — | — |
| 17 Aug 2026 · Newspaper publication of Q1 FY27 financial results | compliance | minimal | — | — |
| 13 Aug 2026 · AGM 2026: All 3 resolutions passed with 100% approval on 26% turnout | compliance | minimal | — | — |
| 11 Aug 2026 · 41st AGM held; financials adopted, director and auditor appointed | board shareholder meetings | low | — | — |
| 4 Aug 2026 · Board Meeting on Aug 13 to Consider Q1 FY27 Financial Results | results | low | — | — |
| 20 Jul 2026 · Newspaper ad published for 41st AGM notice | compliance | minimal | — | — |
| 18 Jul 2026 · 41st Annual Report FY 2025-26 filed with BSE | results | high | — | — |
| 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 |
| 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 |
|---|---|---|---|---|
| ROCE | 1.9 | 3.2 | 58 of 105 | 45% |
| ROE | 1.4 | 3.1 | 70 of 116 | 40% |
| Debt / Equity | 0.0 | 0.0 | 52 of 116 | 56% |
| Profit growth | 103.5 | 5.2 | 28 of 110 | 75% |
| 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.
