---
title: "Talwalkars Better value Fitness Ltd (TALWALKARS) — Share Price, Financials & Analysis"
symbol: "TALWALKARS"
company: "Talwalkars Better value Fitness Ltd"
canonical: "https://tapetide.com/stocks/TALWALKARS"
isin: "INE502K01016"
nse_symbol: "TALWALKARS"
bse_code: "533200"
sector: "Consumer Discretionary"
industry: "Leisure Services"
generated_at: "2026-09-13T19:15:43.904Z"
---

# Talwalkars Better value Fitness Ltd (TALWALKARS)

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

## Company

- **NSE Symbol:** TALWALKARS
- **BSE Code:** 533200
- **ISIN:** INE502K01016
- **Sector:** Consumer Discretionary
- **Industry:** Leisure Services
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2010-05-10
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** talwalkars.net

## About

Talwalkars Better value Fitness is engaged in the largest chain of health centers in India offering a diverse suite of services in fitness including gyms, spas, aerobics, yoga and health counseling.

## Latest Price

- **Price:** ₹1.45
- **Change:** 0 (0%)
- **Open:** ₹1.45
- **Day High:** ₹1.5
- **Day Low:** ₹1.45
- **Previous Close:** ₹1.45
- **Volume:** 0

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.03 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- Promoter holding is low: 38.5%
- Promoters have pledged 75.4% of their holding.

## Growth Rates

| Metric | 1Y |
| --- | --- |
| net income growth | 35% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 18.24 | 17.95 | 24.88 | 3.21 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 6.53 | 8.26 | 11.54 | 8.17 | 0 | 0 | 0.7 | 0 | 0 | 0 | 1.2 | 0.26 |
| Operating Profit | 11.71 | 9.69 | 13.34 | -4.96 | 0 | 0 | -0.7 | 0 | 0 | 0 | -1.2 | -0.26 |
| OPM % | 64.2 | 53.98 | 53.62 | -154.52 | — | — | — | — | — | — | — | — |
| Other Income | 2.73 | 3.11 | 3.28 | 3.08 | 0 | 0 | 0.04 | 0 | 0 | 0 | -75.39 | 0 |
| Interest | 4.5 | 4.56 | 5.32 | 7.57 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 4.52 | 4.45 | 4.54 | 5.74 | 5.05 | 5.05 | 5.05 | 2.7 | 2.7 | 2.7 | 2.7 | 2.7 |
| Profit before tax | 5.42 | 3.79 | 6.76 | -15.19 | -5.05 | -5.05 | -5.71 | -2.7 | -2.7 | -2.7 | -79.29 | -2.96 |
| Tax % | -2.95 | 32.19 | -26.78 | -5.99 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | 5.59 | 2.58 | 8.55 | -14.28 | -5.05 | -5.05 | -5.71 | -2.7 | -2.7 | -2.7 | -79.29 | -2.96 |
| EPS in Rs | 1.8 | 0.83 | 2.76 | -4.61 | -1.63 | -1.63 | -1.84 | -0.87 | -0.87 | -0.87 | -25.58 | -0.95 |

### Profit & Loss

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

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 99 | 125 | 161 | 224 | 229 | 49 | 57 | 0 | 0 | 0 |
| Expenses | 54 | 62 | 80 | 110 | 94 | 18 | 18 | 1 | 1 | 1 |
| Operating Profit | 45 | 63 | 81 | 114 | 136 | 32 | 39 | -1 | -1 | -1 |
| OPM % | 45 | 51 | 50 | 51 | 59 | 64 | 69 | — | — | — |
| Other Income | 2 | 1 | 1 | 1 | 7 | 3 | 3 | 0 | -75 | -75 |
| Interest | 8 | 10 | 10 | 12 | 16 | 8 | 11 | 0 | 0 | 0 |
| Depreciation | 11 | 13 | 22 | 37 | 44 | 13 | 18 | 20 | 11 | 11 |
| Profit before tax | 28 | 41 | 50 | 66 | 83 | 14 | 14 | -21 | -87 | -88 |
| Tax % | 32 | 33 | 33 | 35 | 35 | 34 | 27 | 0 | 0 | — |
| Net Profit | 19 | 28 | 33 | 43 | 53 | 9 | 10 | -21 | -87 | -88 |
| EPS in Rs | 7.97 | 10.56 | 12.75 | 16.4 | 17.98 | 3.07 | 3.3 | -6.75 | -28.19 | -28.27 |
| Dividend Payout % | 16 | 14 | 12 | 9 | 8 | 49 | 15 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 24 | 24 | 26 | 26 | 26 | 30 | 30 | 31 | 31 | 31 |
| Reserves | 101 | 116 | 176 | 205 | 238 | 383 | 162 | 172 | -9 | 113 |
| Borrowings | 98 | 138 | 148 | 183 | 255 | 324 | 114 | 164 | 186 | 10 |
| Other Liabilities | 38 | 42 | 60 | 65 | 67 | 66 | 64 | 53 | 64 | 0 |
| Total Liabilities | 261 | 320 | 410 | 479 | 586 | 803 | 370 | 420 | 272 | 154 |
| Fixed Assets | 165 | 222 | 293 | 374 | 398 | 435 | 254 | 279 | 54 | 44 |
| CWIP | 27 | 22 | 30 | 34 | 57 | 60 | 12 | 4 | 23 | 23 |
| Investments | 10 | 19 | 25 | 11 | 7 | 11 | 21 | 34 | 77 | 0 |
| Other Assets | 59 | 57 | 63 | 60 | 124 | 298 | 82 | 103 | 118 | 88 |
| Total Assets | 261 | 320 | 410 | 479 | 586 | 803 | 370 | 420 | 272 | 154 |

### Cash Flow

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

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 14 | 39 | 57 | 59 | 76 | 23 | 1 | 49 | 3 | 71 |
| Cash from Investing Activity | -74 | -71 | -89 | -82 | -74 | -69 | -7 | -20 | 7 | 77 |
| Cash from Financing Activity | 76 | 23 | 33 | 7 | 38 | 122 | -2 | 18 | -10 | -178 |
| Net Cash Flow | 16 | -9 | 1 | -15 | 40 | 76 | -9 | 47 | 0 | -31 |
| Free Cash Flow | -57 | -23 | -27 | -39 | -2 | -48 | -19 | 9 | 10 | 71 |
| CFO/OP | 52 | 90 | 100 | 85 | 86 | 37 | 8 | 132 | -379 | -5920 |

### Ratios

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 67 | 54 | 40 | 62 | 48 | 45 | 114 | 45 | — | — |
| Inventory Days | — | — | — | — | — | — | — | — | — | 0 |
| Cash Conversion Cycle | 67 | 54 | 40 | 62 | 48 | 45 | 114 | 45 | — | — |
| Working Capital Days | -49 | -85 | -96 | -121 | -25 | -35 | 12 | 71 | — | — |
| ROCE % | 17 | 14 | 16 | 16 | 17 | 16 | 4 | 7 | — | -7 |

## 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 | 37.99% | 37.36% | 38.84% | 38.49% | 38.49% | 38.49% | 38.49% | 38.49% | 38.49% | 38.49% | 38.49% |
| FIIs | 13.32% | 13.04% | 1.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% |
| DIIs | 7.06% | 4.69% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 41.64% | 44.91% | 59.87% | 61.22% | 61.22% | 61.22% | 61.22% | 61.22% | 61.22% | 61.22% | 61.22% |
| No. of Shareholders | 17735 | 23731 | 23952 | 22309 | 22309 | 22309 | 22309 | 22309 | 22309 | 22309 | 22309 |

### 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 | 38.49% | 38.49% | 38.49% | 38.49% | 38.49% | 38.49% | 38.49% | 38.49% | 38.49% | 38.49% | 38.49% | 38.49% |
| FIIs | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% |
| Public | 61.22% | 61.22% | 61.22% | 61.22% | 61.22% | 61.22% | 61.22% | 61.22% | 61.22% | 61.22% | 61.22% | 61.22% |
| No. of Shareholders | 22309 | 22309 | 22309 | 22309 | 22309 | 22309 | 22309 | 22309 | 22309 | 22309 | 22309 | 22309 |

## 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) | 1.45 | Sell |
| EMA (10) | 1.45 | Sell |
| SMA (20) | 1.45 | Sell |
| EMA (20) | 1.45 | Sell |
| SMA (50) | 1.45 | Sell |
| EMA (50) | 1.45 | Sell |
| SMA (100) | 1.45 | Sell |
| EMA (100) | 1.45 | Sell |
| SMA (200) | 1.45 | Sell |
| EMA (200) | 1.45 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 100 | Sell |
| MACD (12,26,9) | 0 | Sell |
| Stochastic (14,3,3) | 50 | Neutral |
| ADX (14) | 0 | Neutral |
| Williams %R (14) | -50 | Neutral |
| ATR (14) | 0 | Low Volatility |
| ROC (12) | 0 | Neutral |
| Stoch RSI (14) | 50 | Neutral |
| UO (7,14,28) | — | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-04 | [Corporate Insolvency Resolution Process (CIRP)-Approval of Resolution plan by Tribunal](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f19bf559-c5a9-48f3-b26e-5459c04ee3a1.pdf) |
| 2026-09-03 | [The Annual General Meeting Of The Company Will Held Be On Wednesday 30Th September 2026 At 11:30 A.M (IST) At 1702 17Th Floor Signature (By Lotus) Off Veera Desai Road Extn. Andheri West Mumbai Maharashtra India 400053](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=522292c9-fca7-41eb-b543-055e679ebfda.pdf) |
| 2026-09-03 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6bec8b8c-a8dc-42c6-acd8-07bb5b6f1160.pdf) |
| 2026-09-01 | [Board Meeting Outcome for Out Of Board Meeting Held On Tuesday 01St September 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9f7d34e1-9742-4a78-83fd-721ff83af518.pdf) |
| 2026-09-01 | [Book Of The Company Will Be Closed From Thursday 24Th September 2026 Till Wednesday 30Th September 2026 (Both Days Inclusive)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=45257ede-6c63-4ff2-9d42-727a4afd25fb.pdf) |
| 2026-08-24 | [Announcement under Regulation 30 (LODR)-Resignation of Director](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d162d70d-1c03-4609-bee5-c54d6862c54a.pdf) |
| 2026-08-19 | [Revised Outcome Of Board Meeting Held On 18-08-2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e800e8d1-faf6-4a60-b089-b2aac5b596cd.pdf) |
| 2026-08-18 | [Board Meeting Outcome for Outcome Of Board Meeting Held Today I.E. August 18 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=59279a81-9f25-4bd3-8bb4-c78cb1ff6c2c.pdf) |
| 2026-08-18 | [Announcement under Regulation 30 (LODR)-Resignation of Director](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f48b3af1-aa9e-4ba9-b0f3-6ed2fc9875dc.pdf) |
| 2026-08-18 | [Announcement under Regulation 30 (LODR)-Resignation of Managing Director](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5cb7a12e-6108-4247-9097-eab4956b8efa.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 5 Oct 2024 - Update on liquidation process for Talwalkars Better Value Fitness Limited. | [Update on Liquidation Process 5 Oct 2024 - Update on liquidation process for Talwalkars Better Value Fitness Limited.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3F0D492C-04E7-450E-8398-3DA741A16313-180728.pdf) |
| 28 Nov 2024 - Update on liquidation process for Talwalkars Better Value Fitness. | [Update on Liquidation Process 28 Nov 2024 - Update on liquidation process for Talwalkars Better Value Fitness.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/BAF0630D-8FDA-4B78-9B6F-4267E0D9E4CC-150329.pdf) |
| 26 May - Board meeting on 30 May 2026 to approve multiple standalone financial results; trading window closed from 1 April 2026. | [Board Meeting Intimation for Audited & Un-Audited Financial Result From September 30, 2019 To March 31, 2026 26 May - Board meeting on 30 May 2026 to approve multiple standalone financial results; trading window closed from 1 April 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8cb3ce17-8323-439c-a780-f04918cd264c.pdf) |
| 24 Jan 2025 - Successful sale of Talwalkars Better Value Fitness Limited. | [Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015. - Liquidation Update 24 Jan 2025 - Successful sale of Talwalkars Better Value Fitness Limited.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/09BEC009-8E27-4574-B64A-ADD0038A0BB0-105848.pdf) |
| 24 Jan 2025 - Change in management and directorship due to liquidation. | [Disclosure under Regulation 30 - Intimation on change in Management & Directorship of Talwalkars Better Value Fitness Limited consequent to sale of the company as a Going Concern under liquidation as per the provisions of Insolvency and Bankruptcy Code, 2016. 24 Jan 2025 - Change in management and directorship due to liquidation.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8B40DCAF-E10D-41D6-ABEB-75CCDFDA24BB-105824.pdf) |
| 21h - CS Pooja Jain resigned as Company Secretary and Compliance Officer effective 10 April 2026. | [Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer 21h - CS Pooja Jain resigned as Company Secretary and Compliance Officer effective 10 April 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/50abc08e-523a-4d2d-aab6-593e5cac3568.pdf) |
| 16 Mar - NCLT order confirmed five directors; deemed cessation of six directors/KMPs; CS and CFO appointed effective 16-Mar-2026. | [Announcement under Regulation 30 (LODR)-Resignation of Director 16 Mar - NCLT order confirmed five directors; deemed cessation of six directors/KMPs; CS and CFO appointed effective 16-Mar-2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6663064b-62ea-4185-9ab1-3cc07cd2c22a.pdf) |
| 16 Mar - NCLT Mumbai order dated 26-Feb-2026 in C.P.(IB) No.1056/MB/2020 — liquidation update. | [Corporate Insolvency Resolution Process (CIRP)-Approval of Resolution plan by Tribunal 16 Mar - NCLT Mumbai order dated 26-Feb-2026 in C.P.(IB) No.1056/MB/2020 — liquidation update.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a111a683-f308-46d7-a081-71d0178fe8a1.pdf) |
| 16 Mar - NCLT confirmed five directors; six directors/KMPs ceased. CS and CFO appointed effective 16-03-2026. | [Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO) 16 Mar - NCLT confirmed five directors; six directors/KMPs ceased. CS and CFO appointed effective 16-03-2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/de2e0df8-c314-41d2-8335-c6b0829fc068.pdf) |
| 16 Mar - NCLT confirmed five directors; several directors/KMPs ceased; CS Pooja Jain and CFO Satish Kalmaste appointed effective 16 Mar 2026. | [Announcement under Regulation 30 (LODR)-Resignation of Director 16 Mar - NCLT confirmed five directors; several directors/KMPs ceased; CS Pooja Jain and CFO Satish Kalmaste appointed effective 16 Mar 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0dc07ebe-f995-436b-b455-1e02f0f48abf.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| May 2017 | [Concall - May 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0e678daf-0d25-4263-a51d-8fdad6c24e6d.pdf) |
| May 2017 | [Concall - May 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/5/0e678daf-0d25-4263-a51d-8fdad6c24e6d.pdf) |
| Feb 2019 | [Concall - Feb 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e385e822-64b7-4ffe-8f9e-74917580d194.pdf) |
| Feb 2019 | [Concall - Feb 2019](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2019/2/e385e822-64b7-4ffe-8f9e-74917580d194.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2013 from nse](https://archives.nseindia.com/annual_reports/AR_609_TALWALKARS_2012_2013_17072013173620.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_TALWALKARS_2009_2010_01092010120000.zip) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/533200/5332000318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/533200/5332000317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/533200/5332000316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/533200/5332000315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/533200/5332000314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/533200/5332000313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/533200/5332000312.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/533200/5332000311.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 2026-09-13T19:15:43.904Z.