---
title: "Associated Coaters Ltd (544183) — Share Price, Financials & Analysis"
symbol: "544183"
company: "Associated Coaters Ltd"
canonical: "https://tapetide.com/stocks/544183"
isin: "INE0RIQ01013"
nse_symbol: "ASSOCIATEDCOATERSLTD"
bse_code: "544183"
sector: "Industrial Products"
industry: "Other Industrial Products"
market_cap_cr: 15
generated_at: "2026-09-13T19:08:53.708Z"
---

# Associated Coaters Ltd (544183)

Canonical page: https://tapetide.com/stocks/544183

## Company

- **NSE Symbol:** ASSOCIATEDCOATERSLTD
- **BSE Code:** 544183
- **ISIN:** INE0RIQ01013
- **Sector:** Industrial Products
- **Industry:** Other Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2024-06-06
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** associatedcoaters.in

## About

Incorporated in 2017, Associated 
Coaters Ltd is in business of metal 
coating[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:43:52.154796Z.

- **Market Cap:** ₹15 Cr
- **Classification:** SME
- **P/E (reported):** 13.1
- **EPS (reported):** ₹7.45
- **Book Value:** ₹57.86
- **Price to Book:** 1.92
- **Dividend Yield:** 0%
- **ROE:** 15.66%
- **ROCE:** 20.92%
- **Debt to Equity:** 0.01
- **Revenue (yearly):** ₹8.26 Cr
- **Net Income:** ₹1.13 Cr
- **EBITDA:** ₹1.62 Cr
- **52-Week High:** ₹132.5
- **52-Week Low:** ₹72
- **RSI (14):** 24.62

## Key Insights

### Strengths

- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 25.3%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 168 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -111.25% | -114.29% | -0.09% |
| ebitda margin growth | -32.26% | -30.74% | 20.52% |
| net income growth | 2.73% | 28% | — |
| revenue growth | 37.67% | 32% | 42.62% |
| roce | -68.67% | -61.48% | 41.26% |
| roe | -74.21% | 51.06% | -366.33% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Sales | 2.21 | 3.74 | 3.1 | 5.16 |
| Expenses | 1.62 | 2.64 | 2.39 | 4.25 |
| Operating Profit | 0.59 | 1.1 | 0.71 | 0.91 |
| OPM % | 26.7 | 29.41 | 22.9 | 17.64 |
| Other Income | 0.01 | 0.01 | 0.05 | 0.06 |
| Interest | 0.01 | 0 | 0 | 0 |
| Depreciation | 0.07 | 0.19 | 0.11 | 0.12 |
| Profit before tax | 0.52 | 0.92 | 0.65 | 0.85 |
| Tax % | 21.15 | 23.91 | 26.15 | 28.24 |
| Net Profit | 0.4 | 0.69 | 0.48 | 0.61 |
| EPS in Rs | 2.96 | 5.1 | 3.55 | 4.51 |

### Profit & Loss

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 1.39 | 3.59 | 5.38 | 5.96 | 8.26 |
| Expenses | 0 | 0 | 1.17 | 2.76 | 3.87 | 4.25 | 6.63 |
| Operating Profit | 0 | 0 | 0.22 | 0.83 | 1.51 | 1.71 | 1.63 |
| OPM % | — | — | 15.83 | 23.12 | 28.07 | 28.69 | 19.73 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0.1 |
| Interest | 0 | 0 | 0 | 0.01 | 0.01 | 0.01 | 0 |
| Depreciation | 0 | 0 | 0.04 | 0.08 | 0.15 | 0.26 | 0.23 |
| Profit before tax | 0 | 0 | 0.18 | 0.74 | 1.35 | 1.44 | 1.5 |
| Tax % | — | — | 27.78 | 25.68 | 25.19 | 25.69 | 22.67 |
| Net Profit | 0 | 0 | 0.14 | 0.55 | 1.01 | 1.06 | 1.15 |
| EPS in Rs | 0 | 0 | 46.67 | 183.33 | 10.86 | 7.84 | 8.51 |
| Dividend Payout % | — | — | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.03 | 0.03 | 0.03 | 0.03 | 0.93 | 1.35 | 1.35 |
| Reserves | 0 | -0.01 | 0.13 | 0.68 | 0.73 | 5.43 | 6.47 |
| Borrowings | 0 | 0 | 0.1 | 0.66 | 0.35 | 0.1 | 0.1 |
| Other Liabilities | 0 | 0.01 | 1.76 | 1.59 | 2.51 | 2.46 | 2.5 |
| Total Liabilities | 0.03 | 0.03 | 2.02 | 2.96 | 4.52 | 9.34 | 10.42 |
| Fixed Assets | 0 | 0 | 0.52 | 0.48 | 0.85 | 2.15 | 2.63 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 1.64 |
| Other Assets | 0.03 | 0.03 | 1.5 | 2.48 | 3.67 | 7.19 | 6.15 |
| Total Assets | 0.03 | 0.03 | 2.02 | 2.96 | 4.52 | 9.34 | 10.42 |

### Cash Flow

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | 0 | 0.52 | 0.63 | 0.8 | -0.09 | 1.68 |
| Cash from Investing Activity | — | 0 | -0.56 | -0.03 | -0.54 | -1.56 | -0.72 |
| Cash from Financing Activity | — | 0 | 0.1 | -0.01 | -0.37 | 3.8 | 0 |
| Net Cash Flow | — | 0 | 0.05 | 0.59 | -0.11 | 2.14 | 0.96 |
| Free Cash Flow | — | 0 | -0.04 | 0.6 | 0.28 | -1.65 | 0.96 |
| CFO/OP | — | — | 236 | 82 | 66 | 18 | 101 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | — | — | 357.12 | 153.52 | 171.64 | 224.76 | 167.92 |
| Inventory Days | — | — | 10.53 | 8.16 | 26.55 | 52.74 | 31.2 |
| Days Payable | — | — | 343.94 | 207.99 | 213.69 | 209.56 | 128.69 |
| Cash Conversion Cycle | — | — | 23.71 | -46.31 | -15.5 | 67.93 | 70.43 |
| Working Capital Days | — | — | -86.65 | 22.37 | 40.03 | 122.48 | 91.47 |
| ROCE % | — | 0 | 128.57 | 92.02 | 80.47 | 32.62 | 20.27 |

## Shareholding Pattern

### Quarterly

| Category | Dec 2023 | Jun 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 100% | 68.79% | 68.79% | 68.79% | 68.79% | 68.79% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0.15% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 23.59% | 11.54% | 28.81% | 29.25% | 28.48% |
| Others | 0% | 7.47% | 19.67% | 2.4% | 1.96% | 2.74% |
| No. of Shareholders | 8 | 365 | 113 | 354 | 354 | 309 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 11 / 7 / 1

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 101.43 | Buy |
| EMA (10) | 103.08 | Buy |
| SMA (20) | 99.46 | Buy |
| EMA (20) | 101.32 | Buy |
| SMA (50) | 100.29 | Buy |
| EMA (50) | 100.23 | Buy |
| SMA (100) | 100.79 | Buy |
| EMA (100) | 101.22 | Buy |
| SMA (200) | 101.3 | Buy |
| EMA (200) | 112.87 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 55.84 | Neutral |
| MACD (12,26,9) | 1.76 | Buy |
| Stochastic (14,3,3) | 61.39 | Neutral |
| ADX (14) | 14.02 | Neutral |
| Williams %R (14) | -22.46 | Neutral |
| ATR (14) | 10.16 | High Volatility |
| ROC (12) | 16.84 | Buy |
| Stoch RSI (14) | 65.19 | Neutral |
| UO (7,14,28) | 69.12 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-04 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e3adbeb1-11a1-4818-9cc2-139765b07651.pdf) |
| 2026-09-03 | [Notice Of The Ninth Annual General Meeting Of The Company](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bd16b9d2-6c3d-4a5d-b024-a732f71f6db0.pdf) |
| 2026-09-03 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=59f5f3fd-ab47-4bd1-aa11-6122db3fa8d4.pdf) |
| 2026-09-02 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=079b2806-ad1e-4634-b018-5ad245c57f8d.pdf) |
| 2026-08-19 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=31e3f137-3b07-42e3-9f4a-0b594d086bd0.pdf) |
| 2026-08-07 | [Price Movement In Securities-Clarification](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f6a9b181-c64d-43c6-bead-a23e1cd055d4.pdf) |
| 2026-07-13 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2150aba4-2325-42e8-9e20-3911dddb0eec.pdf) |
| 2026-06-26 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=218ad110-9a9b-4609-b6ce-48793f334eaf.pdf) |
| 2026-06-24 | [Price Movement In Securities-Clarification](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4bc9c34d-a5c2-410c-909d-17c271b1b32c.pdf) |
| 2026-05-29 | [Board Meeting Outcome for Audited Annual Financial Statements For The Year Ended 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3d797982-609e-4ef8-bd46-1c7ffe48ef6c.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 20 Feb - Transcript of the Earnings Conference Call held on February 13, 2026, to discuss the Unaudited (Standalone & Consolidated) Financial Results of the Company for the … | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript 20 Feb - Transcript of the Earnings Conference Call held on February 13, 2026, to discuss the Unaudited (Standalone & Consolidated) Financial Results of the Company for the …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/37459e0f-0aab-4a59-ae32-cb1e33f2d88b.pdf) |
| 20 Feb - Reply to BSE on Feb 20, 2026: price movement market-driven; no undisclosed events. | [Price Movement In Securities- Clarification 20 Feb - Reply to BSE on Feb 20, 2026: price movement market-driven; no undisclosed events.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7252edce-8a9a-4080-b15c-b4f2d24e44c0.pdf) |
| 16 Mar - Postal ballot approved Navneet Kaur as Whole Time Director and Chairperson; Harbhajan Thethi becomes Non-Executive Director, 628,438 votes. | [Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 16 Mar - Postal ballot approved Navneet Kaur as Whole Time Director and Chairperson; Harbhajan Thethi becomes Non-Executive Director, 628,438 votes.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/12cec74e-3104-4458-91b5-940b4fcf4982.pdf) |
| 15 Apr - Company hereby submits the Certificate under Regulation 75(4) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter and year ended 31st March 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 15 Apr - Company hereby submits the Certificate under Regulation 75(4) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter and year ended 31st March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ff939431-d93c-47cb-8970-b24cc0b0c595.pdf) |
| 13 Feb - Copy of the newspaper publication made with regard to the notice of postal ballot on 12th February, 2026. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Feb - Copy of the newspaper publication made with regard to the notice of postal ballot on 12th February, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a1cd7541-9f59-4300-8acc-a01bdb0b3acf.pdf) |
| 13 Feb - Copies of the newspaper advertisement published on February 13, 2026 in "Financial Express" (All editions) and "Aajkal" (Bengali) (Kolkata edition) with respect to the Unaudited … | [Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Feb - Copies of the newspaper advertisement published on February 13, 2026 in "Financial Express" (All editions) and "Aajkal" (Bengali) (Kolkata edition) with respect to the Unaudited …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/af61711e-b658-43fd-8323-e5466a642ddb.pdf) |
| 13 Feb - Audio of Feb 13, 2026 earnings call for quarter and nine months ended Dec 31, 2025 available on company website. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 13 Feb - Audio of Feb 13, 2026 earnings call for quarter and nine months ended Dec 31, 2025 available on company website.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f26bf454-a396-456e-8c41-be366a610a6d.pdf) |
| 12 Feb - Investor Presentation on the financial performance of the Company for the quarter and nine month ended December 31, 2025. | [Announcement under Regulation 30 (LODR)-Investor Presentation 12 Feb - Investor Presentation on the financial performance of the Company for the quarter and nine month ended December 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6f5a4f0a-b3a2-4bed-a041-b8ca6cf27128.pdf) |
| 12 Feb - Approved unaudited standalone/consolidated results for quarter and nine months ended Dec 31, 2025; CS resigns effective Feb 28, 2026. | [Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer 12 Feb - Approved unaudited standalone/consolidated results for quarter and nine months ended Dec 31, 2025; CS resigns effective Feb 28, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/4b8e433b-6180-4fb5-a278-e7342d52a9ee.pdf) |
| 12 Feb - Approved unaudited Q3/9M FY26 results; CS Sumit Jaiswal resigns effective Feb 28, 2026; CP redemption Rs50 crore. | [Intimation Under Regulation 30(5) Of The SEBI (LODR) Regulations, 2015 12 Feb - Approved unaudited Q3/9M FY26 results; CS Sumit Jaiswal resigns effective Feb 28, 2026; CP redemption Rs50 crore.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/796f1451-2ac7-4152-bdb7-08dc8c18c650.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-05-30 | [Revised Audited Annual Financial Results For The Year Ended 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=37611d9f-2d5f-4082-98d7-2e2008661c75.pdf) |
| 2026-05-29 | [Audited Annual Financial Results For The Year Ended 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a4b7cd03-0246-4642-875f-3dd34f736072.pdf) |
| 2026-05-29 | [Audited Annual Financial Results For The Year Ended 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=66b380a3-6eaa-4dbf-bc3f-80f24cfc394d.pdf) |
| 2025-11-14 | [Un-Audited Financial Results For The Half Year Ended 30Th September 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e31a9f69-30e3-4023-aaf8-70ab6b33e328.pdf) |
| 2025-06-16 | [Results- Financial Results- For The Year Ended 31St March 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=68d0975e-8ef9-48a9-9683-2ba5aed2096f.pdf) |
| 2025-05-29 | [Results - Financial Results For The Half Year And Year Ended 31St March 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bb9138b2-efcc-40b3-bfbd-318ba1a63373.pdf) |
| 2024-11-13 | [Un-Audited Financial Results For The Half Year Ended 30Th September, 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=69c39c06-ac04-439f-8d23-c70655936185.pdf) |
| 2024-08-09 | [Board Meeting Outcome for Outcome Of The Board Meeting Held On Friday, August 09, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e29be4ac-cf38-4ba5-b36b-92a3cbff9f00.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d67d3752-27e4-467a-adca-3f1e9bc6f68f.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b8189da4-afb6-43fc-8aee-1f305bed483b.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2699e06c-e3fb-4283-9afc-947a478aa969.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2c6c153a-433c-4546-befe-f1a0e6ac2f43.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7943623f-be3a-4484-851c-6c1c6d64d577.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a79372ce-ea09-4551-a14c-5e44fd17e026.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d9e04ca3-badf-4719-bdda-e048e70d9cf6.pdf) |
| May 2023 | [Concall - May 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/85dd08c2-7856-438a-96ae-8d9b8d3f5c4a.pdf) |
| May 2022 | [Concall - May 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/dfe4652e-c4fa-4119-8c30-8b751544e40b.pdf) |
| Jan 2021 | [Concall - Jan 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5d49bf6a-e7f6-45ac-b2b0-ef5aac5292a0.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2012 from nse](https://archives.nseindia.com/annual_reports/AR_RUPA_2011_2012_17092012112334.zip) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7072f95a-9ea4-4f52-a71b-c64e8a6cb3fd.pdf) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7610820b-c4d0-4b32-b71e-398dbaa88384.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c2394924-fb98-4cb3-a9fe-4bbcf23c5dae.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/dc9c4b0c-02ac-44a7-b1e6-da2197c3eb81.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/533552/73886533552.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/533552/69339533552.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/533552/64958533552.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/533552/5335520319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/533552/5335520318.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 2026-09-13T19:08:53.708Z.