---
title: "Northern Project Ltd(Merged) (508924) — Share Price, Financials & Analysis"
symbol: "508924"
company: "Northern Project Ltd(Merged)"
canonical: "https://tapetide.com/stocks/508924"
isin: "INE01CZ01010"
bse_code: "508924"
sector: "Services"
industry: "Commercial Services & Supplies"
generated_at: "2026-10-13T11:01:36.933Z"
---

# Northern Project Ltd(Merged) (508924)

Canonical page: https://tapetide.com/stocks/508924

## Company

- **BSE Code:** 508924
- **ISIN:** INE01CZ01010
- **Sector:** Services
- **Industry:** Commercial Services & Supplies
- **Macro Sector:** Services
- **Stock Type:** DELISTED
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** northernproj.co.in

## About

Northern Project is engaged in the business of exporting tea. However, the said business is presently under suspension. The Company is presently engaged in investment and financial activities and is registered with Reserve Bank of India under Section 451A of the Reserve Bank of India Act 1934 as a Non-Banking Financial Company.

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of -2.54% over last 3 years.

## Growth Rates

| Metric | 1Y |
| --- | --- |
| net income growth | 7% |
| revenue growth | -100% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.01 | 0.02 | 0 | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0.07 | 0.1 | 0.07 | 0.44 | 0.08 | 0.11 | 0.06 | 0.06 | 0.08 | 0.05 | 0.09 | 0.06 |
| Operating Profit | -0.06 | -0.08 | -0.07 | -0.44 | -0.07 | -0.11 | -0.06 | -0.06 | -0.08 | -0.05 | -0.09 | -0.06 |
| OPM % | -600 | -400 | — | — | -700 | — | — | — | — | — | — | — |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -0.06 | -0.08 | -0.07 | -0.44 | -0.07 | -0.11 | -0.06 | -0.06 | -0.08 | -0.05 | -0.09 | -0.06 |
| Tax % | 16.67 | 0 | 0 | 4.55 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -0.07 | -0.08 | -0.07 | -0.46 | -0.07 | -0.11 | -0.06 | -0.06 | -0.08 | -0.05 | -0.09 | -0.06 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.45 | 0.62 | 0.48 | 0.41 | 0.34 | 0.34 | 0.01 | 0.03 | 0 | 0 |
| Expenses | 0.33 | 0.57 | 0.47 | 0.42 | 0.33 | 0.31 | 0.31 | 0.69 | 0.32 | 0.28 |
| Operating Profit | 0.12 | 0.05 | 0.01 | -0.01 | 0.01 | 0.03 | -0.3 | -0.66 | -0.32 | -0.28 |
| OPM % | 26.67 | 8.06 | 2.08 | -2.44 | 2.94 | 8.82 | -3000 | -2200 | — | — |
| Other Income | 0 | 0 | 0 | 0 | -4.77 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0.04 | 0.05 | 0.02 | 0.01 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0.12 | 0.01 | -0.04 | -0.03 | -4.77 | 0.03 | -0.3 | -0.66 | -0.32 | -0.28 |
| Tax % | 16.67 | 100 | -50 | 0 | 0.21 | 0 | 3.33 | 3.03 | 0 | — |
| Net Profit | 0.09 | 0 | -0.02 | -0.03 | -4.77 | 0.02 | -0.31 | -0.68 | -0.32 | -0.28 |
| Dividend Payout % | 0 | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 2.21 | 2.21 | 2.21 | 2.21 | 2.21 | 2.21 | 2.21 | 2.21 | 2.21 | 2.21 |
| Reserves | 20.31 | 20.4 | 20.4 | 20.38 | 20.35 | 15.58 | 15.6 | 15.29 | 14.61 | 14.29 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 0.54 | 0.57 | 0.61 | 0.61 | 0.65 | 0.59 | 2.2 | 0.39 | 0.37 | 0.37 |
| Total Liabilities | 23.06 | 23.18 | 23.22 | 23.2 | 23.21 | 18.38 | 20.01 | 17.89 | 17.19 | 16.87 |
| Fixed Assets | 0.02 | 0.15 | 0.11 | 0.06 | 0.04 | 0 | 0 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 7.57 | 9.36 | 7.27 | 9.02 | 7.27 | 1.97 | 1.97 | 1.97 | 1.97 | 1.97 |
| Other Assets | 15.47 | 13.67 | 15.84 | 14.12 | 15.9 | 16.41 | 18.04 | 15.92 | 15.22 | 14.9 |
| Total Assets | 23.06 | 23.18 | 23.22 | 23.2 | 23.21 | 18.38 | 20.01 | 17.89 | 17.19 | 16.87 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -0.3 | 0.3 | -2.53 | — | -1.79 | -0.38 | 0.1 | -0.3 | 0 | 0 |
| Cash from Investing Activity | 0.82 | -1.46 | 2.7 | — | 1.75 | 0.56 | 0 | 0 | 0 | 0 |
| Cash from Financing Activity | 0 | 0 | 0 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow | 0.52 | -1.16 | 0.17 | — | -0.04 | 0.18 | 0.1 | -0.3 | 0 | 0 |
| Free Cash Flow | -0.3 | 0.46 | -0.45 | — | -1.79 | -0.33 | 0.1 | -0.3 | 0 | 0 |
| CFO/OP | -175 | 317 | -4940 | — | 16500 | -3800 | 333 | 100 | 0 | 0 |

### Ratios

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 384.91 | 405.56 | 294.35 | 380.21 | 445.12 | 536.76 | 536.76 | 18250 | 6083.33 | — |
| Cash Conversion Cycle | 384.91 | 405.56 | 294.35 | 380.21 | 445.12 | 536.76 | 536.76 | 18250 | 6083.33 | — |
| Working Capital Days | 9118.36 | 10601.22 | 8848.31 | 10197.19 | 13540.61 | 16757.79 | 16671.91 | 566115 | 180553.33 | — |
| ROCE % | 0.72 | 0.53 | 0.04 | -0.18 | -0.13 | 0.05 | 0.17 | -1.7 | -3.85 | -1.92 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Dec 2021 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% |
| Public | 25.03% | 25.03% | 25.03% | 25.03% | 25.03% | 25.03% |
| No. of Shareholders | 27 | 27 | 27 | 27 | 27 | 27 |

### Quarterly

| Category | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% |
| Public | 25.03% | 25.03% | 25.03% | 25.03% | 25.03% | 25.03% | 25.03% | 25.03% | 25.03% | 25.03% | 25.03% | 25.03% |
| No. of Shareholders | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 5 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 66.21 | Sell |
| EMA (10) | 65.71 | Sell |
| SMA (20) | 69.92 | Sell |
| EMA (20) | 68.16 | Sell |
| SMA (50) | 72.02 | Sell |
| EMA (50) | 71.72 | Sell |
| SMA (100) | 76.57 | Sell |
| EMA (100) | 77.67 | Sell |
| SMA (200) | 92.82 | Sell |
| EMA (200) | 92.28 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 33.35 | Neutral |
| MACD (12,26,9) | -2.71 | Sell |
| Stochastic (14,3,3) | 9.59 | Buy |
| ADX (14) | 24.67 | Neutral |
| Williams %R (14) | -80.97 | Buy |
| ATR (14) | 2.68 | High Volatility |
| ROC (12) | -11.54 | Sell |
| Stoch RSI (14) | 28.87 | Neutral |
| UO (7,14,28) | 38.35 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-01-12 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018](https://www.bseindia.com/xml-data/corpfiling/AttachHis/09c88986-3c6c-4c23-bed4-28b3f27c32af.pdf) |
| 2025-11-07 | [Board Meeting Outcome for Board Meeting Outcome For The Meeting Held Today ( November 07, 2025)](https://www.bseindia.com/xml-data/corpfiling/AttachHis/85dc9ff7-45c3-4d14-b592-acf36c0d97ad.pdf) |
| 2025-11-07 | [Unaudited Standalone And Consolidated Financial Results For The Quater And Half Year Ended September 30, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5a1d79a4-d356-4f66-ad08-e07aadbe6f70.pdf) |
| 2025-11-03 | [Board Meeting Intimation for Board Meeting Intimation For Considering And Approving The Unaudited Standalone And Consolidated Financial Results Of The Comapany For The Quater And Half Year Ended 30Th September 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5fbe2584-ee9a-4ddf-a7e7-906e6676e730.pdf) |
| 2025-10-11 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018](https://www.bseindia.com/xml-data/corpfiling/AttachHis/085adf47-0cee-447e-9372-632963066ea6.pdf) |
| 2022-03-17 | [Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=25b1d7ec-f370-44d6-a6f0-378838f801f8.pdf) |
| 2022-03-17 | [Announcement under Regulation 30 (LODR)-Scheme of Arrangement](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f6f5ee6f-8a49-49f8-a046-85410763c9c8.pdf) |
| 2022-03-17 | [Record Date For Scheme Of Amalgamation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e03d438a-b25b-49af-83e0-e040af259bf8.pdf) |
| 2022-03-17 | [Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer](https://www.bseindia.com/xml-data/corpfiling/AttachHis/25b1d7ec-f370-44d6-a6f0-378838f801f8.pdf) |
| 2022-03-17 | [Announcement under Regulation 30 (LODR)-Scheme of Arrangement](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f6f5ee6f-8a49-49f8-a046-85410763c9c8.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2021 | [Annual Report 2021](https://www.bseindia.com/bseplus/AnnualReport/508924/69281508924.pdf) |
| 2020 | [Annual Report 2020](https://www.bseindia.com/bseplus/AnnualReport/508924/66611508924.pdf) |
| Mar 2019 | [Annual Report 2019](https://www.bseindia.com/bseplus/AnnualReport/508924/5089240319.pdf) |
| Mar 2018 | [Annual Report 2018](https://www.bseindia.com/bseplus/AnnualReport/508924/5089240318.pdf) |
| Mar 2017 | [Annual Report 2017](https://www.bseindia.com/bseplus/AnnualReport/508924/5089240317.pdf) |
| Mar 2016 | [Annual Report 2016](https://www.bseindia.com/bseplus/AnnualReport/508924/5089240316.pdf) |
| Mar 2015 | [Annual Report 2015](https://www.bseindia.com/bseplus/AnnualReport/508924/5089240315.pdf) |
| Mar 2014 | [Annual Report 2014](https://www.bseindia.com/bseplus/AnnualReport/508924/5089240314.pdf) |
| Mar 2012 | [Annual Report 2012](https://www.bseindia.com/bseplus/AnnualReport/508924/5089240312.pdf) |
| Mar 2011 | [Annual Report 2011](https://www.bseindia.com/bseplus/AnnualReport/508924/5089240311.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:01:36.933Z.