---
title: "Pine Animation Ltd (511421) — Share Price, Financials & Analysis"
symbol: "511421"
company: "Pine Animation Ltd"
canonical: "https://tapetide.com/stocks/511421"
isin: "INE452N01026"
bse_code: "511421"
sector: "Information Technology"
industry: "IT - Software"
generated_at: "2026-10-13T11:01:43.414Z"
---

# Pine Animation Ltd (511421)

Canonical page: https://tapetide.com/stocks/511421

## Company

- **BSE Code:** 511421
- **ISIN:** INE452N01026
- **Sector:** Information Technology
- **Industry:** IT - Software
- **Macro Sector:** Information Technology
- **Stock Type:** EQUITY
- **Listed Since:** 2013-03-28
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** pineanimationlimited.com

## About

Pine Animation Limited is engaged in offering software installation, and other information technology and computer service activities.

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.

### Weaknesses

- Stock is trading at 26.8 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 5.92% over past five years.
- Company has a low return on equity of 0.84% over last 3 years.
- Working capital days have increased from 37,481 days to 69,411 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -94% | -75% | 16% |
| revenue growth | -48% | -89% | 6% |

## Financial Statements

### Quarterly Results

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

| Item | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.21 | 0.45 | 0.09 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0.04 | 0.45 | 0.06 | 0.03 | 0.04 | 0.04 | 0.01 | 0.01 | 0 | 0.01 | 0 | 0 |
| Operating Profit | 0.17 | 0 | 0.03 | -0.03 | -0.04 | -0.04 | -0.01 | -0.01 | 0 | -0.01 | 0 | 0 |
| OPM % | 80.95 | 0 | 33.33 | — | — | — | — | — | — | — | — | — |
| Other Income | 0 | 0 | 0.01 | 0 | 0.03 | 0.05 | 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 | 0.17 | 0 | 0.04 | -0.03 | -0.01 | 0.01 | -0.01 | -0.01 | 0 | -0.01 | 0 | 0 |
| Tax % | 29.41 | — | 25 | 0 | 0 | -100 | 0 | 0 | — | 0 | — | — |
| Net Profit | 0.12 | 0 | 0.03 | -0.03 | -0.01 | 0.02 | -0.01 | -0.01 | 0 | -0.01 | 0 | 0 |
| EPS in Rs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Profit & Loss

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

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.39 | 0.29 | 0.09 | 0.09 | 8.76 | 86.35 | 8.8 | 0.23 | 0.12 | 0 |
| Expenses | 0.42 | 0.31 | 0.06 | 0.15 | 8.63 | 86.65 | 8.82 | 0.59 | 0.15 | 0.01 |
| Operating Profit | -0.03 | -0.02 | 0.03 | -0.06 | 0.13 | -0.3 | -0.02 | -0.36 | -0.03 | -0.01 |
| OPM % | -7.69 | -6.9 | 33.33 | -66.67 | 1.48 | -0.35 | -0.23 | -156.52 | -25 | — |
| Other Income | 0 | 0 | 0 | 0 | 0.05 | 1.21 | 0.73 | 0.6 | 0.05 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0.01 | 0.02 | 0 | 0 | 0 | 0 |
| Depreciation | 0.04 | 0.03 | 0.02 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -0.07 | -0.05 | 0.01 | -0.07 | 0.17 | 0.89 | 0.71 | 0.24 | 0.02 | -0.01 |
| Tax % | -42.86 | -20 | 0 | 0 | 5.88 | 30.34 | 30.99 | 33.33 | 50 | — |
| Net Profit | -0.04 | -0.04 | 0.01 | -0.07 | 0.16 | 0.61 | 0.49 | 0.16 | 0.01 | -0.01 |
| EPS in Rs | — | — | — | — | 0.01 | 0.02 | 0.02 | 0.01 | 0 | 0 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Sep 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 3 | 3 | 3 | 3 | 27.7 | 27.7 | 27.7 | 27.7 | 27.7 | 27.7 |
| Reserves | -2.52 | -2.56 | -2.55 | -2.62 | -2.5 | -1.91 | -1.4 | -1.24 | -1.23 | -1.27 |
| Borrowings | 0 | 0 | 0 | 0.05 | 3.55 | 0.05 | 0.05 | 0.04 | 0 | 0 |
| Other Liabilities | 0.03 | 0.01 | 0.01 | 0 | 0.01 | 6.88 | 4.28 | 2.7 | 0.56 | 0.21 |
| Total Liabilities | 0.51 | 0.45 | 0.46 | 0.43 | 28.76 | 32.72 | 30.63 | 29.2 | 27.03 | 26.64 |
| Fixed Assets | 0.09 | 0.06 | 0.04 | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.64 | 3.64 |
| Other Assets | 0.42 | 0.39 | 0.42 | 0.42 | 28.75 | 32.72 | 30.63 | 29.2 | 23.39 | 23 |
| Total Assets | 0.51 | 0.45 | 0.46 | 0.43 | 28.76 | 32.72 | 30.63 | 29.2 | 27.03 | 26.64 |

### Cash Flow

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

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.01 | -0.01 | -0.09 | 0 | -0.04 | -27.9 | 2.92 | -0.75 | -0.63 | 3.57 |
| Cash from Investing Activity | 0.01 | 0 | 0.01 | 0 | 0 | -0.05 | 0.4 | 0.73 | 0.62 | -3.59 |
| Cash from Financing Activity | 0 | 0 | 0 | 0 | 0.04 | 28.2 | -3.5 | 0 | -0.01 | -0.04 |
| Net Cash Flow | 0.02 | -0.01 | -0.08 | 0 | 0 | 0.25 | -0.18 | -0.03 | -0.01 | -0.05 |
| Free Cash Flow | 0.01 | -0.01 | -0.09 | 0 | -0.04 | -27.9 | 2.92 | -0.75 | -0.63 | 3.57 |
| CFO/OP | 11 | 33 | 450 | 0 | 67 | -21462 | -1073 | 2850 | 158 | -11933 |

### Ratios

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 12.22 | 243.33 | 402.76 | 1378.89 | 1378.89 | 37.08 | 1.52 | 3.32 | 47.61 | 0 |
| Inventory Days | — | — | — | — | 0 | 713.41 | 95.97 | 925.46 | 29078.33 | — |
| Days Payable | — | — | — | — | — | 0 | 26.97 | 172.09 | 3406.67 | — |
| Cash Conversion Cycle | 12.22 | 243.33 | 402.76 | 1378.89 | 1378.89 | 750.49 | 70.53 | 756.69 | 25719.28 | 0 |
| Working Capital Days | 13.04 | 299.49 | 465.69 | 1500.56 | 1541.11 | 1039.58 | 108.68 | 1088.78 | 41943.26 | 69410.83 |
| ROCE % | 3.81 | -14 | -10.87 | 2.25 | -15.91 | 1.23 | 3.33 | 2.72 | 0.91 | 0.08 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Jun 2018 |
| --- | --- | --- | --- |
| Public | 100% | 100% | 100% |
| No. of Shareholders | 754 | 754 | 754 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Public | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| No. of Shareholders | 762 | 760 | 760 | 754 | 754 | 754 | 754 | 754 | 754 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 1 / 6 / 12

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 709.96 | Sell |
| EMA (10) | 708.1 | Sell |
| SMA (20) | 724.39 | Sell |
| EMA (20) | 724 | Sell |
| SMA (50) | 763.53 | Sell |
| EMA (50) | 760.21 | Sell |
| SMA (100) | 815.2 | Sell |
| EMA (100) | 796.53 | Sell |
| SMA (200) | 857.01 | Sell |
| EMA (200) | 813.2 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 40.06 | Neutral |
| MACD (12,26,9) | -20.85 | Sell |
| Stochastic (14,3,3) | 29.1 | Neutral |
| ADX (14) | 32.51 | Buy |
| Williams %R (14) | -52.14 | Neutral |
| ATR (14) | 28.39 | High Volatility |
| ROC (12) | -4.16 | Sell |
| Stoch RSI (14) | 77.66 | Neutral |
| UO (7,14,28) | 51.81 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2025-11-14 | [Board Meeting Outcome for Regulation 30 Of SEBI (LODR) - Outcome Of The Board Meeting.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/670d60d0-9215-48d7-b5e1-0bfc09e3c2e2.pdf) |
| 2025-11-07 | [Board Meeting Intimation for Intimation As Per Regulation 29 Of SEBI (Listing Obligation And Disclosure Requirements) Regulations, 2015.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/90d8b0f4-8080-45aa-9406-752a7918a0f3.pdf) |
| 2025-10-09 | [Shareholder Meeting / Postal Ballot-Scrutinizer"s Report](https://www.bseindia.com/xml-data/corpfiling/AttachHis/23a9512e-5144-46d3-b363-5438e8b283a3.pdf) |
| 2025-10-09 | [Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot](https://www.bseindia.com/xml-data/corpfiling/AttachHis/62e6da6b-4184-4c81-9712-a390ca129062.pdf) |
| 2025-10-07 | [Shareholder Meeting / Postal Ballot-Scrutinizer"s Report](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fbe5ccf0-0791-4e60-b0e5-f379a76214ef.pdf) |
| 2018-11-14 | [Standalone Financial Results, Limited Review Report for September 30, 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=50D9F667_3C40_4D6E_BB37_DBE61EFC8EB7_085737.pdf) |
| 2018-11-14 | [Standalone Financial Results, Limited Review Report for September 30, 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/11/50D9F667_3C40_4D6E_BB37_DBE61EFC8EB7_085737.pdf) |
| 2018-09-10 | [Fixes Book Closure for AGM (Cut-off date for e-voting)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=CA873BE4_67E0_476C_8157_6B1804BF042E_152745.pdf) |
| 2018-09-10 | [Fixes Book Closure for AGM (Cut-off date for e-voting)](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/9/CA873BE4_67E0_476C_8157_6B1804BF042E_152745.pdf) |
| 2018-09-06 | [Outcome of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e9c27bc1-41e3-4a14-9f24-2e30e304c4f0.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| Mar 2019 | [Financial Year 2019](https://www.bseindia.com/bseplus/AnnualReport/780006/7800060319.pdf) |
| Mar 2018 | [Financial Year 2018](https://www.bseindia.com/bseplus/AnnualReport/780006/7800060318.pdf) |
| Mar 2017 | [Financial Year 2017](https://www.bseindia.com/bseplus/AnnualReport/780006/7800060317.pdf) |
| Mar 2014 | [Annual Report 2014](http://www.bseindia.com/bseplus/AnnualReport/511421/5114210314.pdf) |
| Mar 2013 | [Annual Report 2013](https://www.bseindia.com/bseplus/AnnualReport/511421/5114210313.pdf) |
| Mar 2012 | [Annual Report 2012](https://www.bseindia.com/bseplus/AnnualReport/511421/5114210312.pdf) |
| Mar 2011 | [Annual Report 2011](https://www.bseindia.com/bseplus/AnnualReport/511421/5114210311.PDF) |
| Mar 2010 | [Annual Report 2010](https://www.bseindia.com/bseplus/AnnualReport/511421/5114210310.PDF) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2025-04-03 | Credit rating update — CARE Ratings |
| 2024-06-03 | Credit rating update — CARE Ratings |
| 2024-05-10 | Credit rating update — CARE Ratings |
| 2023-02-15 | Credit rating update — CARE Ratings |
| 2022-12-22 | Credit rating update — Brickwork Ratings |
| 2021-11-22 | Credit rating update — CARE Ratings |

---

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 2026-10-13T11:01:43.414Z.