BSE: 512517
VINAYAK VANIJYA LTD.
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
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 % | 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 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ 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 |
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. % |
|---|---|---|---|---|---|---|---|---|
| INTL GEMOLOGICAL INST LTD | 17,213 | 28.2 | 11.57 | 16.5 | 47.8 | 58.1 | — | 64.6 |
| WEWORK INDIA MANAGEMENT L | 8,821 | 101.2 | 29.48 | 5.6 | 25.0 | 1.0 | — | 66.5 |
| NESCO LTD. | 7,059 | 16.9 | 2.36 | 11.9 | 13.8 | 14.8 | 26.2 | 68.9 |
| NIRLON LTD | 5,677 | 16.4 | 12.12 | — | 73.8 | 18.1 | — | 79.4 |
| SMARTWORKS COWORKING SP L | 5,439 | 195.1 | 10.25 | 4.6 | 2.0 | 0.3 | — | 65.8 |
| QUESS CORP LIMITED | 4,838 | 19.1 | 4.14 | 14.5 | 19.0 | 14.4 | 7.1 | 2.6 |
| INOX GREEN ENERGY SER LTD | 4,250 | 34.0 | 2.48 | 25.3 | 6.0 | 9.0 | — | 131.6 |
| INDIQUBE SPACES LIMITED | 3,731 | — | 7.25 | — | (20.7) | (2.5) | — | 67.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| ROCE | 1.9 | 3.4 | 58 of 103 | 44% |
| ROE | 1.4 | 2.9 | 67 of 113 | 41% |
| Debt / Equity | 0.0 | 0.1 | 27 of 91 | 71% |
| Profit growth | 103.5 | 5.2 | 28 of 110 | 75% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Reg 74(5) certificate from registrar for quarter ended September 2026 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed for Designated Persons from October 1, 2026 | compliance | minimal | — | — |
| 22 Sept 2026 · Promoter group off-market sale of 4.51% stake in Vinayak Vanijya | ownership changes | high | — | — |
| 21 Sept 2026 · Promoters sell 4.51% stake off-market; holding drops to 18.29% | ownership changes | high | — | — |
| 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 · Board notes Q1 FY27 compliance items and insider trading window closure | compliance | minimal | — | — |
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.