Has no significant business activity of its own, with FY26 total income of Rs. 0.41 lakhs against expenses of Rs. 27.67 lakhs and a net loss of Rs. 27.26 lakhs. The statutory auditor flagged that accumulated losses exceed paid-up capital, current liabilities exceed current assets, and Rs. 286.68 lakhs of interest on related-party borrowings since April 2001 has not been provided for, raising material going-concern doubts. In May 2026, it completed the acquisition of 100% of Micron Calcite Private Limited for Rs. 45.40 lakhs (10,000 equity shares at Rs. 454 each), making it a wholly-owned subsidiary that now forms the operating side of the group. Micron Calcite trades and imports/exports industrial machinery, manufactures metal and plastic containers for industrial packaging, and trades and distributes chemicals. Share capital stands at Rs. 615.72 lakhs after a preferential issue, and the promoter group's holding rose to 62.07% of expanded equity following an open offer in which only 69,273 shares were tendered. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Industrial machinery trading, import and export, Metal and plastic containers for industrial packaging, Chemical trading and distribution, Parent-level operations. Dormant listed shell that has only just acquired an operating subsidiary; auditor-flagged going concern issue
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| EBITDA (ex other income) | (0) | (0) | (0) | (0) | (0) |
| margin % | — | — | — | — | — |
| Owners' profit | (0) | (0) | (0) | (0) | (0) |
| EPS, as reported (₹) | (0.61) | (0.82) | 0.75 | 1.49 | 0.45 |
| ROE % · ROCE % | 3.2 · 4.5 | 4.1 · 5.7 | 3.6 · 5.0 | 6.7 · 6.5 | (45.5) · (17.7) |
| Debt / equity (x) | (0.45) | (0.47) | (0.50) | (0.52) | 1.70 |
| 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 (₹) | (0.17) | (0.26) | (0.67) | 0.40 | 0.24 | 0.11 | 0.44 | 0.17 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED | 70,880 | 30.7 | 7.54 | 30.2 | 17.2 | 14.9 | 21.1 | 18.5 |
| APL APOLLO TUBES LTD | 59,803 | 48.6 | 11.29 | 31.1 | 22.7 | 26.1 | 22.1 | 8.0 |
| SHYAM METALICS AND ENGY L | 29,979 | 26.8 | 2.43 | 12.2 | 8.6 | 11.4 | 24.1 | 14.9 |
| JINDAL SAW LIMITED | 20,016 | 30.5 | 1.63 | 10.5 | 7.5 | 6.8 | 10.9 | 9.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 27 Aug 2026 · Notice of 52nd AGM published in newspaper | compliance | minimal | — | — |
| 26 Aug 2026 · Western Ministil 52nd AGM notice and annual report for FY26 | board shareholder meetings | medium | — | — |
| 26 Aug 2026 · 52nd AGM notice and FY26 annual report filed with BSE | board shareholder meetings | low | — | — |
| 26 Aug 2026 · 52nd AGM filed with FY26 annual report; MD pay, Rs 50cr loans, director re-appointment for approval | board shareholder meetings | medium | — | — |
| 24 Aug 2026 · Board approves 52nd AGM on 18 Sept 2026 via video conferencing | board shareholder meetings | medium | — | — |
| 17 Aug 2026 · Board postpones 52nd AGM, new date to be announced | board shareholder meetings | low | — | — |
| 8 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 6 Aug 2026 · Q1 FY27 results: standalone loss of Rs 10.15 lakh; going concern doubt flagged | results | medium | — | — |
| 6 Aug 2026 · Western Ministil Q1 loss continues; auditor flags going concern doubt | results | high | — | — |
| 6 Aug 2026 · Q1 FY27 Results: Loss Widens to Rs 18.62L; Going Concern Doubt Flagged | 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 |
| RATNAMANI MET & TUB LTD. | 19,815 | 45.8 | 4.71 | 23.1 | 12.7 | 15.6 | 14.4 | 18.5 |
| GODAWARI POW & ISP LTD | 15,875 | 18.6 | 2.71 | 12.0 | 13.7 | 17.0 | 5.7 | 21.0 |
| USHA MARTIN LTD. | 15,069 | 29.7 | 4.56 | 19.8 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,270 | 30.6 | 4.00 | 17.7 | 14.6 | 16.8 | 34.4 | 17.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 0.6 | 16.2 | 5 of 118 | 97% |
| P/B | 0.6 | 1.7 | 12 of 99 | 89% |
| ROCE | (17.7) | 8.7 | 116 of 120 | 3% |
| ROE | (45.5) | 8.6 | 113 of 114 | 1% |
| Debt / Equity | 1.7 | 0.1 | 111 of 114 | 3% |
| Profit growth | (22.5) | 29.3 | 81 of 105 | 23% |
| Market cap | 0 | 247 | 120 of 120 | 0% |
| 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.
