---
title: "Blue Circle Services Ltd (515) — Share Price, Financials & Analysis"
symbol: "515"
company: "Blue Circle Services Ltd"
canonical: "https://tapetide.com/stocks/515"
sector: "Financial Services"
industry: "Finance"
generated_at: "2026-09-13T19:36:27.832Z"
---

# Blue Circle Services Ltd (515)

Canonical page: https://tapetide.com/stocks/515

## Company

- **Sector:** Financial Services
- **Industry:** Finance
- **Macro Sector:** Financial Services
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** bluecircleservices.com

## About

Blue Circle Services include investment in shares & securities, Commercial Papers, Fixed Deposits and other related activities of capital market.

## 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 -70.1% over last 3 years.
- Contingent liabilities of Rs.19.9 Cr.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -41% | -39% | 10% |
| revenue growth | 0% | — | -74% |

## Financial Statements

### Quarterly Results

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

| Item | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue | 0 | 0 | 0 | 6.54 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 | 0 |
| Expenses | 0.06 | 0.02 | 0.02 | 6.6 | 0.06 | 0.49 | 0.01 | 0.78 | 1.55 | 0.01 | 0.01 | 0.33 |
| Financing Profit | -0.06 | -0.02 | -0.02 | -0.06 | -0.06 | -0.49 | -0.01 | -0.77 | -1.55 | -0.01 | -0.01 | -0.33 |
| Financing Margin % | — | — | — | -0.92 | — | — | — | -7700 | — | — | — | — |
| 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 | 0.01 | 0.01 | 0.01 | 0.02 | 0 | 0.01 | 0.01 | 0.02 | 0 | 0 | 0 | 0.02 |
| Profit before tax | -0.07 | -0.03 | -0.03 | -0.08 | -0.06 | -0.5 | -0.02 | -0.79 | -1.55 | -0.01 | -0.01 | -0.35 |
| Tax % | 0 | 0 | 0 | -12.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -0.07 | -0.02 | -0.02 | -0.07 | -0.06 | -0.51 | -0.02 | -0.79 | -1.55 | -0.01 | -0.02 | -0.35 |
| EPS in Rs | -0.03 | -0.01 | -0.01 | -0.03 | -0.03 | -0.25 | -0.01 | -0.39 | -0.76 | 0 | -0.01 | -0.17 |

### Profit & Loss

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

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue | 2.45 | 27.09 | 0.83 | 8.06 | 8.32 | 0.09 | 0 | 6.54 | 0.01 | 0.01 |
| Expenses | 1.59 | 42.97 | 0.9 | 8.04 | 12.97 | 3.21 | 1.04 | 6.69 | 1.35 | 1.91 |
| Financing Profit | 0.86 | -15.88 | -0.08 | 0.02 | -4.65 | -3.12 | -1.04 | -0.15 | -1.34 | -1.9 |
| Financing Margin % | 35.1 | -58.62 | -9.64 | 0.25 | -55.89 | -3466.67 | — | -2.29 | -13400 | -19000 |
| Other Income | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.52 | 0.37 | 0.24 | 0.18 | 0.13 | 0.09 | 0.06 | 0.05 | 0.03 | 0.03 |
| Profit before tax | 0.35 | -16.25 | -0.32 | -0.16 | -4.78 | -3.21 | -1.1 | -0.2 | -1.37 | -1.93 |
| Tax % | 57.14 | 0.31 | 21.88 | -25 | -0.63 | -0.62 | -0.91 | 0 | -0.73 | 0 |
| Net Profit | 0.15 | -16.3 | -0.4 | -0.13 | -4.75 | -3.19 | -1.09 | -0.2 | -1.37 | -1.93 |
| EPS in Rs | 0.07 | -8.03 | -0.2 | -0.06 | -2.33 | -1.57 | -0.54 | -0.1 | -0.67 | -0.95 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 20.35 | 20.35 | 20.35 | 20.35 | 20.35 | 20.35 | 20.35 | 20.35 | 20.35 | 20.35 |
| Reserves | 8.34 | -7.95 | -8.36 | -8.48 | -13.24 | -16.43 | -17.52 | -17.71 | -19.08 | -21.01 |
| Borrowing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.5 |
| Other Liabilities | 27.07 | 17.98 | 15.19 | 8.56 | 0.37 | 6.96 | 7.06 | 2.92 | 3.05 | 0.66 |
| Total Liabilities | 55.76 | 30.38 | 27.18 | 20.43 | 7.48 | 10.88 | 9.89 | 5.56 | 4.32 | 2.5 |
| Fixed Assets | 1.06 | 0.75 | 0.51 | 0.34 | 0.23 | 0.16 | 0.11 | 0.06 | 0.04 | 0.03 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 35.26 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 19.44 | 29.63 | 26.67 | 20.09 | 7.25 | 10.72 | 9.78 | 5.5 | 4.28 | 2.47 |
| Total Assets | 55.76 | 30.38 | 27.18 | 20.43 | 7.48 | 10.88 | 9.89 | 5.56 | 4.32 | 2.5 |

### Cash Flow

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

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 14.41 | -34.61 | 0.18 | -0.15 | -0.02 | -0.02 | -0.02 | -0.02 | -0.01 | -0.02 |
| Cash from Investing Activity | -15.01 | 35.21 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 |
| Cash from Financing Activity | 0.64 | -0.51 | -0.21 | -0.01 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow | 0.04 | 0.09 | -0.02 | -0.15 | -0.01 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 14.91 | -34.3 | 0.42 | 0.02 | 0.09 | -0.02 | -0.02 | -0.01 | -0.01 | -0.02 |
| CFO/OP | 1699 | 218 | -357 | -950 | 0 | 1 | 2 | 13 | 1 | 1 |

### Ratios

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ROE % | 0.53 | -79.34 | -3.28 | -1.09 | -50.05 | -57.84 | -32.3 | -7.31 | -70.08 | -632.79 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 3.37% | 3.37% | 3.37% | 3.37% | 3.37% | 3.37% | 3.37% |
| Public | 96.63% | 96.63% | 96.63% | 96.63% | 96.63% | 96.63% | 96.62% |
| No. of Shareholders | 648 | 645 | 659 | 658 | 658 | 657 | 657 |

### Quarterly

| Category | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 3.37% | 3.37% | 3.37% | 3.37% | 3.37% | 3.37% | 3.37% | 3.37% | 3.37% | 3.37% | 3.37% | 3.37% |
| Public | 96.63% | 96.63% | 96.63% | 96.63% | 96.63% | 96.63% | 96.63% | 96.63% | 96.63% | 96.62% | 96.62% | 96.62% |
| No. of Shareholders | 658 | 658 | 658 | 658 | 658 | 658 | 657 | 657 | 657 | 657 | 657 | 657 |

## Technical Indicators

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

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 2 / 9 / 8

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 189.24 | Sell |
| EMA (10) | 189.12 | Sell |
| SMA (20) | 201.48 | Sell |
| EMA (20) | 195.98 | Sell |
| SMA (50) | 207.97 | Sell |
| EMA (50) | 208.49 | Sell |
| SMA (100) | — | Neutral |
| EMA (100) | — | Neutral |
| SMA (200) | — | Neutral |
| EMA (200) | — | Neutral |

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

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 35.74 | Neutral |
| MACD (12,26,9) | -7.89 | Sell |
| Stochastic (14,3,3) | 10.98 | Buy |
| ADX (14) | 20.24 | Neutral |
| Williams %R (14) | -84.05 | Buy |
| ATR (14) | 10.83 | High Volatility |
| ROC (12) | -14.31 | Sell |
| Stoch RSI (14) | 22.08 | Neutral |
| UO (7,14,28) | 44.07 | Neutral |

## Filings & Documents

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/508939/70699508939.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/508939/65187508939.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/508939/5089390319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/508939/5089390318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/508939/5089390317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/508939/5089390316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/508939/5089390315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/508939/5089390314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/508939/5089390313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/508939/5089390312.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 2026-09-13T19:36:27.832Z.