---
title: "Quasar India Ltd (538452) — Share Price, Financials & Analysis"
symbol: "538452"
company: "Quasar India Ltd"
canonical: "https://tapetide.com/stocks/538452"
nse_symbol: "QUASARINDIALTD"
bse_code: "538452"
sector: "Services"
industry: "Commercial Services & Supplies"
generated_at: "2026-09-13T20:15:33.463Z"
---

# Quasar India Ltd (538452)

Canonical page: https://tapetide.com/stocks/538452

## Company

- **NSE Symbol:** QUASARINDIALTD
- **BSE Code:** 538452
- **Sector:** Services
- **Industry:** Commercial Services & Supplies
- **Macro Sector:** Services
- **Stock Type:** EQUITY
- **Listed Since:** 2014-06-16
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** quasarindia.in

## About

Incorporated in 1979, Quasar India Ltd deals and trades in goods & commodities[1]

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.
- Stock is trading at 0.24 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -25.8% over past five years.
- Company has a low return on equity of 1.50% over last 3 years.
- Company has high debtors of 2,221 days.
- Working capital days have increased from 4,927 days to 14,258 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| revenue growth | -97% | -28% | -26% |

## Financial Statements

### Quarterly Results

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

| Item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 9.01 | 10.26 | 8.74 | 8.44 | 11.24 | 11.57 | 7.4 | 11.93 | 0.17 | 0 | 0.22 | 1.03 |
| Expenses | 8 | 9.22 | 8.49 | 8.37 | 10.2 | 9.82 | 5.91 | 16.17 | 0.29 | 0.04 | 0.29 | 1.06 |
| Operating Profit | 1.01 | 1.04 | 0.25 | 0.07 | 1.04 | 1.75 | 1.49 | -4.24 | -0.12 | -0.04 | -0.07 | -0.03 |
| OPM % | 11.21 | 10.14 | 2.86 | 0.83 | 9.25 | 15.13 | 20.14 | -35.54 | -70.59 | — | -31.82 | -2.91 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 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 | 1.01 | 1.04 | 0.25 | 0.07 | 1.04 | 1.75 | 1.49 | -4.24 | -0.12 | -0.04 | -0.06 | -0.03 |
| Tax % | 25.74 | 25.96 | 28 | 157.14 | 25.96 | 25.71 | 33.56 | -28.54 | 0 | 0 | 0 | -200 |
| Net Profit | 0.75 | 0.77 | 0.19 | -0.04 | 0.77 | 1.29 | 0.99 | -3.03 | -0.12 | -0.04 | -0.06 | 0.03 |
| EPS in Rs | 0.02 | 0.02 | 0 | 0 | 0.02 | 0.03 | 0.02 | -0.06 | 0 | 0 | 0 | 0 |

### Profit & Loss

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.47 | 0.18 | 24.94 | 13.09 | 6.37 | 4.66 | 3.82 | 36.46 | 42.13 | 1.43 |
| Expenses | 0.75 | 0.62 | 25.18 | 13.79 | 6.53 | 5.25 | 3.07 | 34.09 | 42.09 | 1.69 |
| Operating Profit | -0.28 | -0.44 | -0.24 | -0.7 | -0.16 | -0.59 | 0.75 | 2.37 | 0.04 | -0.26 |
| OPM % | -59.57 | -244.44 | -0.96 | -5.35 | -2.51 | -12.66 | 19.63 | 6.5 | 0.09 | -18.18 |
| Other Income | 0.3 | 0.42 | 0.26 | 0.71 | 0.12 | 0.41 | 0.52 | 0 | 0 | 0.01 |
| Interest | 0 | 0 | 0 | 0.06 | 0.03 | 0.02 | 0.05 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0.02 | -0.02 | 0.02 | -0.06 | -0.07 | -0.2 | 1.22 | 2.37 | 0.04 | -0.25 |
| Tax % | 0 | 0 | 50 | 0 | -85.71 | -10 | 16.39 | 32.49 | 25 | -24 |
| Net Profit | 0.01 | -0.01 | 0.01 | -0.05 | -0.01 | -0.18 | 1.01 | 1.6 | 0.02 | -0.19 |
| EPS in Rs | 0 | 0 | 0 | 0 | 0 | 0 | 0.02 | 0.03 | 0 | 0 |
| 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 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5.35 | 5.35 | 5.35 | 5.35 | 5.35 | 5.35 | 5.35 | 5.35 | 47.59 | 47.59 |
| Reserves | 0.24 | 0.22 | 0.23 | 0.18 | 0.16 | -0.02 | 1 | 2.6 | 8.54 | 8.35 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0.2 | 0.01 | 0 | 0.08 |
| Other Liabilities | 0.01 | 0.02 | 1.4 | 3.19 | 0.24 | 0.02 | 2.95 | 36.62 | 6.2 | 12.57 |
| Total Liabilities | 5.6 | 5.59 | 6.98 | 8.72 | 5.75 | 5.35 | 9.5 | 44.58 | 62.33 | 68.59 |
| Fixed Assets | 0 | 0 | 0.02 | 0.01 | 0 | 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 | 0 | 0 |
| Other Assets | 5.6 | 5.59 | 6.96 | 8.71 | 5.75 | 5.35 | 9.5 | 44.58 | 62.33 | 68.59 |
| Total Assets | 5.6 | 5.59 | 6.98 | 8.72 | 5.75 | 5.35 | 9.5 | 44.58 | 62.33 | 68.59 |

### Cash Flow

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.1 | 4.67 | -2.45 | 3 | -1.65 | -0.88 | 1.33 | -0.04 | -48.14 | -2.1 |
| Cash from Investing Activity | 0.03 | -5.12 | 2.33 | -3.23 | 1.67 | 0.84 | -1.56 | 0.22 | 0 | 2.03 |
| Cash from Financing Activity | 0 | 0.42 | 0.26 | -0.06 | -0.03 | 0 | 0.2 | -0.19 | 48.15 | 0.08 |
| Net Cash Flow | 0.12 | -0.03 | 0.14 | -0.29 | 0 | -0.04 | -0.02 | -0.01 | 0.01 | 0 |
| Free Cash Flow | 0.1 | 4.67 | -2.46 | 3 | -1.65 | -0.88 | 1.33 | -0.04 | -48.14 | -2.1 |
| CFO/OP | -43 | -1066 | 1017 | -430 | 1031 | 153 | 204 | 27 | -120325 | 808 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 0 | 365 | 54.59 | 64.41 | 2.29 | 12.53 | 363.09 | 395.23 | 62.9 | 2220.63 |
| Inventory Days | 277.72 | 0 | 0 | 0 | 38.12 | 0 | 0 | 0 | 190.17 | 12488.66 |
| Days Payable | 0 | — | — | — | 12.13 | — | — | — | 46.17 | 1856.47 |
| Cash Conversion Cycle | 277.72 | 365 | 54.59 | 64.41 | 28.28 | 12.53 | 363.09 | 395.23 | 206.9 | 12852.83 |
| Working Capital Days | 4131.49 | 425.83 | 69.96 | 130.22 | 56.73 | 136.29 | 112.75 | 53.46 | 468.7 | 14257.97 |
| ROCE % | 0.36 | -0.36 | 0.36 | 0 | -0.72 | -3.32 | 21.38 | 32.67 | 0.12 | -0.45 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 20.78% | 20.78% | 20.78% | 20.78% | 20.78% | 0.22% | 0.22% | 0.22% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.03% | 0.03% |
| Public | 79.22% | 79.22% | 79.22% | 79.22% | 79.22% | 99.78% | 99.78% | 99.76% | 100.01% | 99.97% | 99.97% |
| No. of Shareholders | 2795 | 2819 | 2868 | 2467 | 2347 | 2327 | 2367 | 6775 | 18265 | 60648 | 60648 |

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 0.22% | 0.22% | 0.22% | 0.22% | 0.22% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% |
| Public | 99.78% | 99.78% | 99.76% | 99.78% | 99.78% | 99.98% | 100.01% | 99.98% | 99.98% | 99.97% | 99.97% | 99.97% |
| No. of Shareholders | 2519 | 6213 | 6775 | 6482 | 6690 | 8936 | 18265 | 66295 | 63081 | 60649 | 60648 | 60648 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 0 / 7 / 12

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 0.29 | Sell |
| EMA (10) | 0.28 | Sell |
| SMA (20) | 0.29 | Sell |
| EMA (20) | 0.29 | Sell |
| SMA (50) | 0.31 | Sell |
| EMA (50) | 0.32 | Sell |
| SMA (100) | 0.38 | Sell |
| EMA (100) | 0.41 | Sell |
| SMA (200) | 0.62 | Sell |
| EMA (200) | 0.55 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 40.75 | Neutral |
| MACD (12,26,9) | -0.01 | Sell |
| Stochastic (14,3,3) | 25 | Neutral |
| ADX (14) | 22.69 | Neutral |
| Williams %R (14) | -75 | Neutral |
| ATR (14) | 0.02 | High Volatility |
| ROC (12) | -9.68 | Sell |
| Stoch RSI (14) | 46.16 | Neutral |
| UO (7,14,28) | 49.68 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 Jun - Quasar India confirms it is not a Large Corporate; outstanding borrowing was nil on 31 March 2026. | [Non-Applicability Of Large Corporate Clause 8 Jun - Quasar India confirms it is not a Large Corporate; outstanding borrowing was nil on 31 March 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8af2868a-0574-437b-b7fa-82a6b5861bae.pdf) |
| 5 Mar - Ms. Pooja Jain resigned as Company Secretary and Compliance Officer effective 5 March 2026. | [Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer 5 Mar - Ms. Pooja Jain resigned as Company Secretary and Compliance Officer effective 5 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7390597e-495f-41c1-ae33-d335cd6a9774.pdf) |
| 5 Aug - M/s. Shweta Jain & Co LLP resigned as Quasar India’s internal auditor effective 5 August 2026. | [Resignation Of Internal Auditor 5 Aug - M/s. Shweta Jain & Co LLP resigned as Quasar India’s internal auditor effective 5 August 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=53a6e7d3-3171-4e8a-ad39-ac9e9c676b61.pdf) |
| 4 May - On 4 May 2026, Reema Magotra appointed; Namrata Sharma resigned; board committees reconstituted. | [Announcement under Regulation 30 (LODR)-Resignation of Director 4 May - On 4 May 2026, Reema Magotra appointed; Namrata Sharma resigned; board committees reconstituted.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=343e0f3b-22f2-4d7b-afd8-646b15cf22d5.pdf) |
| 4 May - On 4 May 2026, Reema Magotra appointed; Namrata Sharma resigned; board committees reconstituted. | [Announcement under Regulation 30 (LODR)-Resignation of Director 4 May - On 4 May 2026, Reema Magotra appointed; Namrata Sharma resigned; board committees reconstituted.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/343e0f3b-22f2-4d7b-afd8-646b15cf22d5.pdf) |
| 4 May - On 4 May 2026, Reema Magotra appointed; Namrata Sharma resigned; board committees reconstituted. | [Announcement under Regulation 30 (LODR)-Resignation of Director 4 May - On 4 May 2026, Reema Magotra appointed; Namrata Sharma resigned; board committees reconstituted.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/343e0f3b-22f2-4d7b-afd8-646b15cf22d5.pdf) |
| 4 May - On 4 May 2026, Quasar India appointed Reema Magotra and accepted Namrata Sharma’s resignation. | [Announcement Under Regulation 30 (LODR)- Reconstitution Of Committees 4 May - On 4 May 2026, Quasar India appointed Reema Magotra and accepted Namrata Sharma’s resignation.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d543eea0-fdaf-47c7-817b-dee3fe9c894e.pdf) |
| 4 May - On 4 May 2026, Quasar India appointed Reema Magotra and accepted Namrata Sharma’s resignation. | [Announcement Under Regulation 30 (LODR)- Reconstitution Of Committees 4 May - On 4 May 2026, Quasar India appointed Reema Magotra and accepted Namrata Sharma’s resignation.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d543eea0-fdaf-47c7-817b-dee3fe9c894e.pdf) |
| 4 May - On 4 May 2026, Quasar India appointed Reema Magotra and accepted Namrata Sharma’s resignation. | [Announcement Under Regulation 30 (LODR)- Reconstitution Of Committees 4 May - On 4 May 2026, Quasar India appointed Reema Magotra and accepted Namrata Sharma’s resignation.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/d543eea0-fdaf-47c7-817b-dee3fe9c894e.pdf) |
| 4 May - On 4 May 2026, appointed Reema Magotra as independent director and noted Namrata Sharma's resignation. | [Announcement under Regulation 30 (LODR)-Change in Directorate 4 May - On 4 May 2026, appointed Reema Magotra as independent director and noted Namrata Sharma's resignation.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ac15193f-a494-4396-a3b3-dab136fc4ce3.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0f5e7b3b-f9d2-417b-886f-b88a75220061.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/afbb0cda-354b-4014-a261-a0dfdd8f8b30.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/89e43b6e-b151-4a14-a461-ba3dbf169811.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/70a7d9a2-c73e-47c3-bb7f-8264c86a54a0.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/538452/76168538452.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/538452/71141538452.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/538452/65770538452.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/538452/5384520319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/538452/5384520318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/538452/5384520317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/538452/5384520316.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 2026-09-13T20:15:33.463Z.