Variman Global Enterprises
Variman Global Enterprises (VARIMAN) share price was ₹4.60 at the 28 Oct 2026 close; market capitalisation ₹89.72 Cr; P/E (TTM) 41.82; sector Commercial Services. The share price fell 48.3% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue fell 20.3% year on year to ₹25.53 Cr and net profit fell 45.7% year on year to ₹1.07 Cr (compared with Jun 2025). Promoters held 27.75% of Variman Global Enterprises in Sep 2026, unchanged from Jun 2026. Its Tapetide Score is 45/100 (Average) as of 28 Oct 2026.
Key Fundamentals
MicrocapCommercial ServicesServicesPrice-based figures as of 28 Oct 2026, 15:30 IST · EPS basis: Consolidated · TTM
Peer Comparison
Services › Commercial Services › Trading & Distributors
| ₹350.35 | 16.10 | 27,389 Cr | 2.70 | 1.68% | 12.32% | 19.00% | 1,28,312 Cr | 1,504 Cr | |
| ₹51.65 | 17.33 | 7,748 Cr | 3.65 | 0.00% | 18.27% | 29.75% | 908 Cr | 447 Cr | |
| ₹567.90 | 17.06 | 3,998 Cr | 4.42 | 2.82% | 24.16% | 31.29% | 478 Cr | 234 Cr | |
| ₹1,171.00 | 23.87 | 1,758 Cr | 4.39 | 0.05% | 18.15% | 26.34% | 2,794 Cr | 74 Cr | |
| — | — | 1,104 Cr | 12.25 | 0.00% | -0.05% | 0.02% | 40 Cr | -0 Cr | |
| — | — | 810 Cr | 59.90 | 0.00% | 53.72% | 74.36% | 12 Cr | -2 Cr | |
| Variman Global Enterprises (this company) | — | 41.82 | 90 Cr | 1.77 | 3.58% | 6.29% | 10.76% | 129 Cr | 2 Cr |
| Median 7 companies | ₹459.13 | 17.33 | 1,758 Cr | 4.39 | 0.05% | 18.15% | 26.34% | 478 Cr | 74 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Data confidence 100/100
Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
1- Company is expected to give good quarter
Weaknesses
6- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding is low: 27.8%
- Company has a low return on equity of 4.18% over last 3 years.
- Earnings include an other income of Rs.3.13 Cr.
- Debtor days have increased from 85.4 to 104 days.
Technical Indicators
Oscillators
Bearish
Overall
Bearish
Moving Averages
Bullish
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 7.99% · Jun 2026
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 25.43 | 33.53 | 27.04 | 27.33 | 23.58 | 32.1 | 31.46 | 21.49 | 32.05 | 22.39 | 33.92 | 44.34 | 25.53 |
| Expenses | 25.94 | 31.22 | 27.22 | 28.63 | 24.34 | 31.78 | 31.52 | 21.81 | 30.36 | 22.64 | 32.14 | 42.56 | 23.49 |
| Operating Profit | -0.51 | 2.31 | -0.18 | -1.3 | -0.76 | 0.32 | -0.06 | -0.32 | 1.69 | -0.25 | 1.78 | 1.78 | 2.04 |
| OPM % | -2.01% | 6.89% | -0.67% | -4.76% | -3.22% | 1% | -0.19% | -1.49% | 5.27% | -1.12% | 5.25% | 4.01% | 7.99% |
| Other Income | 1 | 0.89 | 0.66 | 2.28 | 1.58 | 1.01 | 2.58 | 1.27 | 1.66 | 1.36 | 1.13 | 0.11 | 0.53 |
| Interest | 0.65 | 0.69 | 0.64 | 1.08 | 0.37 | 0.77 | 1.52 | 1.18 | 0.83 | 0.76 | 1.14 | 1.29 | 0.96 |
| Depreciation | 0.16 | 0.1 | 0.21 | 0.06 | 0.17 | 0.19 | 0.19 | 0.22 | 0.15 | 0.15 | 0.16 | 0.16 | 0.16 |
| PBT | -0.32 | 2.41 | -0.37 | -0.16 | 0.28 | 0.37 | 0.81 | -0.45 | 2.37 | 0.2 | 1.61 | 0.44 | 1.45 |
| Tax % | 15.62% | 13.28% | 2.7% | -25% | 25% | -5.41% | 20.99% | 15.56% | 17.3% | 60% | 22.36% | 90.91% | 26.21% |
| Net Profit | -0.37 | 2.1 | -0.37 | -0.13 | 0.2 | 0.39 | 0.64 | -0.52 | 1.97 | 0.09 | 1.25 | 0.04 | 1.07 |
| EPS (₹) | -0.02 | 0.11 | -0.02 | -0.01 | 0.01 | 0.02 | 0.03 | -0.03 | 0.1 | 0 | 0.06 | 0 | 0.05 |
Profit & Loss
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1 | 50 | 61 | 59 | 77 | 116 | 113 | 109 | 134 | 126 |
| Expenses | 1 | 49 | 61 | 58 | 77 | 115 | 113 | 109 | 128 | 121 |
| Operating Profit | 0 | 0 | 0 | 1 | 0 | 1 | 0 | -1 | 7 | 5 |
| OPM % | -13% | 0.4% | 0.5% | 2% | 0% | 0.7% | 0.3% | -0.8% | 5% | 4.2% |
| Other Income | 0 | 3 | 2 | 2 | 3 | 4 | 5 | 6 | 3 | 3 |
| Interest | 0 | 2 | 1 | 2 | 2 | 2 | 3 | 4 | 4 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| PBT | 0 | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 5 | 4 |
| Tax % | — | 25% | 26% | 28% | 26% | 21% | 16% | 29% | 28% | — |
| Net Profit | 0 | 1 | 1 | 1 | 0 | 2 | 1 | 1 | 3 | 2 |
| EPS (₹) | 0 | 0.03 | 0.04 | 0.06 | 0.03 | 0.09 | 0.05 | 0.03 | 0.17 | 0.11 |
| Div. Payout % | — | 0% | 0% | 26% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 17 | 17 | 17 | 18 | 19 | 19 | 19 | 20 |
| Reserves | -2 | -2 | -1 | -1 | 3 | 12 | 13 | 27 | 31 |
| Borrowings | 0 | 16 | 17 | 18 | 18 | 22 | 27 | 31 | 34 |
| Other Liabilities | 3 | 5 | 7 | 11 | 8 | 18 | 18 | 21 | 27 |
| Total Liabilities | 6 | 36 | 39 | 45 | 48 | 71 | 78 | 99 | 112 |
| Fixed Assets | 0 | 7 | 8 | 9 | 9 | 11 | 12 | 13 | 13 |
| CWIP | 0 | 0 | 2 | 1 | 1 | 1 | 1 | 2 | 4 |
| Investments | 0 | 3 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 6 | 25 | 28 | 34 | 38 | 58 | 64 | 84 | 95 |
| Total Assets | 6 | 36 | 39 | 45 | 48 | 71 | 78 | 99 | 112 |
Cash Flow
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Operating | 0 | -9 | 0 | 0 | -7 | -9 | -7 | -17 | -1 |
| Investing | 0 | -10 | -3 | -2 | 1 | -2 | 3 | -1 | 0 |
| Financing | 0 | 19 | 3 | 0 | 6 | 10 | 3 | 18 | 0 |
| Net Cash Flow | 0 | 0 | 0 | -2 | 0 | 0 | 0 | 0 | -1 |
| Free Cash Flow | 0 | -11 | -3 | 0 | -7 | -10 | -8 | -19 | -4 |
| CFO/OP | 0 | -5,178 | 75 | 36 | 35,300 | -1,052 | -2,068 | 2,068 | 1 |
Ratios
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 586 | 73 | 67 | 91 | 63 | 73 | 64 | 88 | 104 |
| Inventory Days | — | — | — | — | — | — | — | — | 56 |
| Days Payable | — | — | — | — | — | — | — | — | 65 |
| Cash Conversion Cycle | 586 | 73 | 67 | 91 | 63 | 73 | 64 | 88 | 96 |
| Working Capital Days | 1,783 | 129 | 94 | 105 | 113 | 102 | 111 | 130 | 114 |
| ROCE % | — | 16% | 7% | 9% | 7% | 10% | 8% | 7% | 10% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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57 extracted metrics + investor summaries across FY10–FY27.
Documents
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Company Information
Incorporated in 1993, Variman Global Enterprises Ltd is in the business of distribution of HPMPS division and EATON Power Solutions[1]
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