---
title: "V B Desai Financial Services Ltd (VBDESAIFIN) — Share Price, Financials & Analysis"
symbol: "VBDESAIFIN"
company: "V B Desai Financial Services Ltd"
canonical: "https://tapetide.com/stocks/VBDESAIFIN"
bse_code: "511110"
sector: "Financial Services"
industry: "Finance"
generated_at: "2026-09-13T19:03:42.797Z"
---

# V B Desai Financial Services Ltd (VBDESAIFIN)

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

## Company

- **BSE Code:** 511110
- **Sector:** Financial Services
- **Industry:** Finance
- **Macro Sector:** Financial Services
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** vbdesai.com

## About

Incorporated in 1985, V. B. Desai Financial Services Ltd is in the business of Consultancy and Valuation[1]

## Latest Price

## Tapetide Score

- **Score:** 61 / 100
- **Score date:** 2026-09-04
- **Archetype:** Quality at a Reasonable Price
- **What it means:** Financial strength is not being paid for with a demanding multiple. The question worth asking is whether the quality is durable or reflects a good patch — check the consistency of returns over several years rather than the latest quarter.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Flat
- **Percentile:** 90.4 (of 4473 scored stocks)
- **Confidence:** 97%
- **Data coverage:** 94%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 73.34 | 9% |
| growth | 44.01 | 9% |
| momentum | 55.88 | 12% |
| ownership | 50 | 24% |
| quality | 68.46 | 22% |
| valuation | 67.97 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company is almost debt free.
- Stock is trading at 0.66 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 5.35% over last 3 years.
- Earnings include an other income of Rs.1.10 Cr.
- Working capital days have increased from 82.1 days to 140 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 52% | 41% | 36% |
| revenue growth | -2% | 12% | 13% |

## Financial Statements

### Quarterly Results

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

| Item | 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 | 0.5 | 0.77 | 1.04 | 0.77 | 0.73 | 0.62 | 0.71 | 0.96 | 0.68 | 0.57 | 0.62 | 1.08 |
| Expenses | 0.47 | 0.71 | 0.82 | 0.65 | 0.65 | 0.57 | 0.68 | 0.96 | 0.64 | 0.55 | 0.61 | 0.92 |
| Operating Profit | 0.03 | 0.06 | 0.22 | 0.12 | 0.08 | 0.05 | 0.03 | 0 | 0.04 | 0.02 | 0.01 | 0.16 |
| OPM % | 6 | 7.79 | 21.15 | 15.58 | 10.96 | 8.06 | 4.23 | 0 | 5.88 | 3.51 | 1.61 | 14.81 |
| Other Income | 0.04 | 0.05 | 0.04 | 0.05 | 0.05 | 0.12 | 0.28 | 0.27 | 0.28 | 0.28 | 0.27 | 0.27 |
| 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 | 0.07 | 0.11 | 0.26 | 0.17 | 0.13 | 0.17 | 0.31 | 0.27 | 0.32 | 0.3 | 0.28 | 0.43 |
| Tax % | 28.57 | 18.18 | 26.92 | 29.41 | 23.08 | 11.76 | 35.48 | 25.93 | 25 | 26.67 | 25 | 30.23 |
| Net Profit | 0.06 | 0.09 | 0.19 | 0.12 | 0.09 | 0.14 | 0.2 | 0.2 | 0.24 | 0.22 | 0.21 | 0.29 |
| EPS in Rs | 0.13 | 0.2 | 0.42 | 0.27 | 0.2 | 0.31 | 0.44 | 0.44 | 0.53 | 0.49 | 0.46 | 0.64 |

### Profit & Loss

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1.33 | 2.19 | 2.59 | 2.14 | 2.81 | 2.77 | 3.3 | 3.3 | 3.93 | 2.95 |
| Expenses | 1.21 | 1.64 | 1.85 | 1.84 | 2.32 | 2.32 | 2.68 | 2.56 | 2.77 | 2.72 |
| Operating Profit | 0.12 | 0.55 | 0.74 | 0.3 | 0.49 | 0.45 | 0.62 | 0.74 | 1.16 | 0.23 |
| OPM % | 9.02 | 25.11 | 28.57 | 14.02 | 17.44 | 16.25 | 18.79 | 22.42 | 29.52 | 7.8 |
| Other Income | 0.13 | 0 | 0 | 0.02 | 0 | 0 | 0 | 0.03 | 0.01 | 1.1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.03 | 0.03 | 0.02 | 0.01 | 0.01 | 0.01 | 0 | 0 | 0.01 | 0 |
| Profit before tax | 0.22 | 0.52 | 0.72 | 0.31 | 0.48 | 0.44 | 0.62 | 0.77 | 1.16 | 1.33 |
| Tax % | 63.64 | 11.54 | 16.67 | 38.71 | 27.08 | 29.55 | 24.19 | 27.27 | 25.86 | — |
| Net Profit | 0.08 | 0.45 | 0.59 | 0.19 | 0.36 | 0.31 | 0.47 | 0.56 | 0.87 | 0.96 |
| EPS in Rs | 0.18 | 0.99 | 1.3 | 0.42 | 0.8 | 0.68 | 1.04 | 1.24 | 1.92 | 2.12 |
| Dividend Payout % | 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 | 4.54 | 4.54 | 4.54 | 4.54 | 4.54 | 4.54 | 4.54 | 4.54 | 4.54 | 4.54 |
| Reserves | 4.61 | 4.66 | 5.03 | 5.62 | 5.81 | 6.17 | 6.48 | 6.95 | 7.51 | 8.38 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 0.4 | 0.46 | 0.59 | 0.53 | 0.51 | 0.59 | 0.56 | 0.7 | 0.58 | 0.58 |
| Total Liabilities | 9.55 | 9.66 | 10.16 | 10.69 | 10.86 | 11.3 | 11.58 | 12.19 | 12.63 | 13.5 |
| Fixed Assets | 0.1 | 0.07 | 0.05 | 0.02 | 0.01 | 0.01 | 0 | 0 | 0.04 | 0.04 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 3.44 | 5.44 | 7.92 | 8.22 | 8.21 | 8.54 | 8.67 | 8.67 | 0.13 | 0.26 |
| Other Assets | 6.01 | 4.15 | 2.19 | 2.45 | 2.64 | 2.75 | 2.91 | 3.52 | 12.46 | 13.2 |
| Total Assets | 9.55 | 9.66 | 10.16 | 10.69 | 10.86 | 11.3 | 11.58 | 12.19 | 12.63 | 13.5 |

### 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 | -0.13 | 1.77 | 2.35 | -0.07 | -0.02 | 0.44 | -0.13 | 0.32 | -8.31 | 0.26 |
| Cash from Investing Activity | -0.01 | -1.99 | -2.29 | 0.05 | 0 | -0.32 | 0 | 0 | 8.49 | -0.12 |
| Cash from Financing Activity | -0.09 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow | -0.23 | -0.22 | 0.06 | -0.01 | -0.02 | 0.11 | -0.13 | 0.32 | 0.17 | 0.14 |
| Free Cash Flow | -0.13 | 1.77 | 2.34 | -0.07 | -0.02 | 0.44 | -0.13 | 0.32 | -8.35 | 0.25 |
| CFO/OP | -60 | 1617 | 460 | 18 | 43 | 122 | -20 | 77 | -1103 | 53 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 35.22 | 32.93 | 26.67 | 25.37 | 23.88 | 35.07 | 50.07 | 47.56 | 32.08 | 29.72 |
| Cash Conversion Cycle | 35.22 | 32.93 | 26.67 | 25.37 | 23.88 | 35.07 | 50.07 | 47.56 | 32.08 | 29.72 |
| Working Capital Days | 60.83 | 21.95 | 8.33 | 63.42 | 76.75 | 12.99 | 31.62 | 21.02 | 85.17 | 140.24 |
| ROCE % | 1.53 | 2.4 | 5.54 | 7.3 | 3.02 | 4.56 | 4.05 | 5.51 | 6.54 | 9.29 |

## Shareholding Pattern

### 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 | 42.27% | 42.27% | 42.27% | 42.27% | 42.27% | 42.27% | 42.27% | 42.27% | 42.27% | 42.27% | 42.27% | 42.27% |
| FIIs | 1.11% | 1.11% | 1.11% | 1.11% | 1.11% | 0.99% | 0.99% | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 51.28% | 51.67% | 51.71% | 51.72% | 52.12% | 52.32% | 52.2% | 52.24% | 52.23% | 52.22% | 52.18% | 52.16% |
| Others | 5.35% | 4.95% | 4.92% | 4.9% | 4.5% | 4.41% | 4.54% | 4.55% | 4.57% | 4.57% | 4.61% | 4.63% |
| No. of Shareholders | 4819 | 4856 | 4872 | 4827 | 4854 | 4941 | 4923 | 4895 | 4920 | 4900 | 4905 | 4886 |

## Technical Indicators

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

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 7 / 7 / 5

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 19.17 | Sell |
| EMA (10) | 18.98 | Sell |
| SMA (20) | 18.85 | Buy |
| EMA (20) | 18.86 | Buy |
| SMA (50) | 18.14 | Buy |
| EMA (50) | 18.37 | Buy |
| SMA (100) | 17.66 | Buy |
| EMA (100) | 18.44 | Buy |
| SMA (200) | 19.63 | Sell |
| EMA (200) | 20.26 | Sell |

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

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 51.28 | Neutral |
| MACD (12,26,9) | 0.22 | Sell |
| Stochastic (14,3,3) | 64.44 | Neutral |
| ADX (14) | 21.39 | Neutral |
| Williams %R (14) | -50 | Neutral |
| ATR (14) | 0.93 | High Volatility |
| ROC (12) | 0.8 | Buy |
| Stoch RSI (14) | 39.96 | Neutral |
| UO (7,14,28) | 53.86 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9h - 10 Mar 2026 Bharat Connect Conference group meeting; MD Madhusudan Sarda attended; no UPSI shared. | [Disclosures Under Regulation 30 Of The SEBI (LODR) Regulations 2015 9h - 10 Mar 2026 Bharat Connect Conference group meeting; MD Madhusudan Sarda attended; no UPSI shared.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/f3ec0093-41a8-46eb-9804-5ac0a16d2547.pdf) |
| 9 Feb - Multiple supply orders worth INR 2.01 crore received Feb 01–07, 2026 for gabion boxes and rockfall netting. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 9 Feb - Multiple supply orders worth INR 2.01 crore received Feb 01–07, 2026 for gabion boxes and rockfall netting.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f98e9762-c0ab-4126-bf8f-b20b8cebd828.pdf) |
| 9 Apr - Company says share price movement is market-driven and no price-sensitive event exists. | [Regulation 30- Clarification On Price Movement. 9 Apr - Company says share price movement is market-driven and no price-sensitive event exists.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e43b6d90-7368-4335-b9e5-3dd1e089dcb7.pdf) |
| 6 Apr - Compliance certificate for the quarter ended on 31st March 2026 is attached herewith. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 6 Apr - Compliance certificate for the quarter ended on 31st March 2026 is attached herewith.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/494fcda8-e2c6-4fa8-8de4-980b324b46bd.pdf) |
| 5 Feb - Limited review report on unaudited standalone results for quarter and nine months ended 31 December 2025. | [Board Meeting Outcome for Outcome Of Board Meeting 5 Feb - Limited review report on unaudited standalone results for quarter and nine months ended 31 December 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a6da9c4e-25a8-42d4-a07d-7acdf93e5ecb.pdf) |
| 5 Feb - Audit review: V.B. Desai Financial Services' unaudited results for quarter and nine months ended 31 Dec 2025. | [Unaudited Financial Results For The Quarter Ended On 31St December 2025. 5 Feb - Audit review: V.B. Desai Financial Services' unaudited results for quarter and nine months ended 31 Dec 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a3b8bf1f-ea0e-449d-b9c7-76cb2a8fb06b.pdf) |
| 3 Feb - MD Madhusudan Sarda bought 1,600 shares on 01-Feb-2026 for Rs.113,936; holding 5,626,790 (41.448%). | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011 3 Feb - MD Madhusudan Sarda bought 1,600 shares on 01-Feb-2026 for Rs.113,936; holding 5,626,790 (41.448%).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/967DCC9B_CE9C_4890_8815_37320788B3B5_100059.pdf) |
| 28 Feb - Ms. Sonal Jhanwar appointed Company Secretary w.e.f. 02 Mar 2026; Himanshu SK Gupta & Associates appointed secretarial auditor FY2025-26. | [Appointment of Company Secretary and Compliance Officer 28 Feb - Ms. Sonal Jhanwar appointed Company Secretary w.e.f. 02 Mar 2026; Himanshu SK Gupta & Associates appointed secretarial auditor FY2025-26.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/65bab83e-ad24-45d3-9d6a-f71b3f498b21.pdf) |
| 28 Feb - Appointed Ms Sonal Jhanwar as Company Secretary effective 02-Mar-2026; Himanshu SK Gupta & Associates appointed secretarial auditor for FY2025-26. | [Board Meeting Outcome for Appointment Of M/S. Himanshu SK Gupta & Associates Practicing Company Secretaries As The Secretarial Auditor Of The Company For The Financial Year F.Y. 2025-26. 28 Feb - Appointed Ms Sonal Jhanwar as Company Secretary effective 02-Mar-2026; Himanshu SK Gupta & Associates appointed secretarial auditor for FY2025-26.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4e1fbcd9-cdbd-4704-86f4-5ccd49d273f5.pdf) |
| 27 Mar - Trading window closed from 01-Apr-2026 until 48 hours after audited FY2026 results. | [Closure of Trading Window 27 Mar - Trading window closed from 01-Apr-2026 until 48 hours after audited FY2026 results.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/76a02095-bc11-4e86-8e4c-7507b552fb8d.pdf) |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-07-30 | [Announcement under Regulation 30 (LODR)-Cessation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8ef515e4-2d3c-4dcf-b8f7-fc524572d514.pdf) |
| 2026-07-29 | [Board Meeting Outcome for Outcome Of Board Meeting Held On 29Th July 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b852d6c0-8ee1-4e1e-8b03-f34b53588687.pdf) |
| 2026-07-29 | [Updated Outcome Of Board Meeting Held On](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=049e9f4b-390c-4816-8a7d-9d19b0338c17.pdf) |
| 2026-07-17 | [Board Meeting Intimation for Board Meeting To Approve Unaudited Financial Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9d568265-4b50-41e7-ab02-74968514d30d.pdf) |
| 2026-07-13 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dceea8e8-f55d-4774-9964-0fe11c14ee0b.pdf) |
| 2026-06-29 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7203d79e-7e10-4eed-9c31-42ea3329a80c.pdf) |
| 2026-05-27 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=170730c3-548d-4fd9-afd2-aa48fe47b152.pdf) |
| 2026-05-25 | [Board Meeting Outcome for Outcome Of Board Meeting Held On 25Th May 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=16b8aa50-53a7-48df-8c04-68520119e0ae.pdf) |
| 2026-05-18 | [Board Meeting Intimation for Board Meeting To Approve Audited Financial Results For The Quarter And Year Ended On 31St March 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=71605bba-89e0-451e-b42b-0456e1b05451.pdf) |
| 2026-04-14 | [Compliances-Reg.24(A)-Annual Secretarial Compliance](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c5a24c67-d557-41f3-955d-a1898adf8e5a.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-07-29 | [Unaudited Financial Results For The Quarter Ended On 30Th June 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=79281d40-a833-4bfe-b248-0c2a8f0aa55b.pdf) |
| 2026-05-25 | [Audited Financial Results For The Quarter And Year Ended On 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=148a833d-c8a1-4c5b-a165-206af7a46624.pdf) |
| 2026-02-05 | [Unaudited Financial Results For The Quarter Ended On 31St December 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a3b8bf1f-ea0e-449d-b9c7-76cb2a8fb06b.pdf) |
| 2025-11-05 | [Un-Audited Financial Results For The Quarter Ended On 30Th September 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1d1f2158-96d0-4fc9-81f7-8f50ac3534c5.pdf) |
| 2025-07-21 | [Unaudited Financial Results For The Quarter Ended On 30Th June 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a36d8044-30a0-45ad-a12a-ea0e3ea37fca.pdf) |
| 2025-01-21 | [Unaudited Financial Results For The Quarter Ended On 31St December 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1f15989d-9786-4268-a51a-6f0e0c1f3af9.pdf) |
| 2024-10-18 | [Un-Audited Financial Results As On 30Th September 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=df901c90-e04c-45e6-af9d-6b2dcd80fdd6.pdf) |
| 2024-07-25 | [Un-Audited Financial Results For The Quarter Ended On 30Th June 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e2ec240f-13d9-4763-95cc-91e3e0c787ce.pdf) |
| 2024-05-21 | [Audited Financial Results For The Quarter And Year Ended On 31St March 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=66dec5f5-f0ab-4248-abca-4c236666b923.pdf) |
| 2024-01-18 | [Board Meeting Outcome for Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=592d98cf-1310-4f33-a114-ae6389467ab7.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/92af6a3d-d210-41ba-9604-b032e7c4b841.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bff57706-a469-4b4d-8cff-4ca3d675225d.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c097e2d2-31ef-4dc6-9e43-d5a0aefd5e11.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/511110/73766511110.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/511110/69751511110.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/511110/65008511110.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/511110/5111100319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/511110/5111100318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/511110/5111100317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/511110/5111100316.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 2026-09-13T19:03:42.797Z.