---
title: "Mount Shivalik Industries Ltd (507522) — Share Price, Financials & Analysis"
symbol: "507522"
company: "Mount Shivalik Industries Ltd"
canonical: "https://tapetide.com/stocks/507522"
isin: "INE410C01019"
bse_code: "507522"
sector: "Fast Moving Consumer Goods"
industry: "Beverages"
generated_at: "2026-09-13T18:40:45.911Z"
---

# Mount Shivalik Industries Ltd (507522)

Canonical page: https://tapetide.com/stocks/507522

## Company

- **BSE Code:** 507522
- **ISIN:** INE410C01019
- **Sector:** Fast Moving Consumer Goods
- **Industry:** Beverages
- **Macro Sector:** Fast Moving Consumer Goods
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-01
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** mountshivalik.com

## About

Mount Shivalik Industries is engaged in the business of Manufacturing and sale of Beer Restaurant and BAR.

## Latest Price

- **Price:** ₹6.33
- **Change:** 0 (0%)
- **Open:** ₹6.33
- **Day High:** ₹6.33
- **Day Low:** ₹6.33
- **Previous Close:** ₹6.33
- **Volume:** 0

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -43.2% over past five years.
- Contingent liabilities of Rs.87.4 Cr.
- Company has high debtors of 176 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 22% | 13% | 5% |
| revenue growth | -30% | -11% | -43% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1.66 | 0.82 | 0.64 | 1.7 | 1.82 | 0.74 | 0.6 | 1.47 | 1.52 | 0.53 | 0.46 | 0.72 |
| Expenses | 2.33 | 1.99 | 1.54 | 1.9 | 1.93 | 1.21 | 1.1 | 1.47 | 1.69 | 0.95 | 1.03 | 1.28 |
| Operating Profit | -0.67 | -1.17 | -0.9 | -0.2 | -0.11 | -0.47 | -0.5 | 0 | -0.17 | -0.42 | -0.57 | -0.56 |
| OPM % | -40.36 | -142.68 | -140.62 | -11.76 | -6.04 | -63.51 | -83.33 | 0 | -11.18 | -79.25 | -123.91 | -77.78 |
| Other Income | 0.12 | 0.01 | 0 | 0.03 | 0 | 0.01 | 0.02 | 0 | 0 | 0 | 0 | 0.28 |
| Interest | 1.83 | 1.85 | 1.88 | 2.12 | 2.07 | 1.96 | -0.14 | -1.15 | 0 | 0 | 0 | 0 |
| Depreciation | 0.6 | 0.6 | 0.59 | 0.58 | 0.57 | 0.45 | 0.73 | 0.46 | 0.46 | 0.39 | 0.73 | 1.67 |
| Profit before tax | -2.98 | -3.61 | -3.37 | -2.87 | -2.75 | -2.87 | -1.07 | 0.69 | -0.63 | -0.81 | -1.3 | -1.95 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -2.99 | -3.61 | -3.38 | -2.87 | -2.75 | -2.87 | -1.07 | 0.69 | -0.64 | -0.81 | -1.3 | -1.95 |
| EPS in Rs | -4.94 | -5.97 | -5.59 | -4.75 | -4.55 | -4.75 | -1.77 | 1.14 | -1.06 | -1.34 | -2.15 | -3.22 |

### Profit & Loss

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

| Item | Mar 2011 | Jun 2012 15m | Jun 2013 | Jun 2014 | Jun 2015 | Mar 2016 9m | Mar 2017 | Mar 2018 | Mar 2019 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 90.8 | 113.51 | 73.27 | 38.88 | 14.34 | 6.26 | 5.3 | 5.22 | 4.34 | 3.23 |
| Expenses | 96.21 | 120.06 | 76.86 | 48.74 | 23.23 | 12.79 | 8.69 | 7.45 | 5.46 | 4.95 |
| Operating Profit | -5.41 | -6.55 | -3.59 | -9.86 | -8.89 | -6.53 | -3.39 | -2.23 | -1.12 | -1.72 |
| OPM % | -5.96 | -5.77 | -4.9 | -25.36 | -61.99 | -104.31 | -63.96 | -42.72 | -25.81 | -53.25 |
| Other Income | 0.67 | 0.46 | 0.16 | 0.37 | 12.54 | 0.18 | 0.19 | -0.05 | 0.04 | 0.28 |
| Interest | 2.48 | 4.62 | 4.26 | 4.4 | 6.96 | 4.88 | 6.93 | 7.92 | 1.58 | 0 |
| Depreciation | 2.45 | 3.42 | 2.85 | 2.7 | 3.04 | 2.09 | 2.51 | 2.32 | 2.12 | 3.25 |
| Profit before tax | -9.67 | -14.13 | -10.54 | -16.59 | -6.35 | -13.32 | -12.64 | -12.52 | -4.78 | -4.69 |
| Tax % | -32.99 | -33.12 | -32.73 | -31.1 | -33.86 | -34.98 | -14 | 0 | 0 | — |
| Net Profit | -6.48 | -9.45 | -7.1 | -11.43 | -4.2 | -8.66 | -10.87 | -12.51 | -4.78 | -4.7 |
| EPS in Rs | -10.72 | -15.63 | -11.74 | -18.9 | -6.95 | -14.32 | -17.98 | -20.69 | -7.91 | -7.77 |
| 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 2010 | Mar 2011 | Jun 2012 | Jun 2013 | Jun 2014 | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 6.05 | 6.05 | 6.05 | 6.05 | 6.05 | 6.05 | 6.05 | 6.05 | 6.05 | 6.05 |
| Reserves | 12.59 | 6.11 | -3.33 | -10.43 | -21.86 | -26.06 | -34.71 | -45.59 | -58.1 | -62.87 |
| Borrowings | 13.31 | 20.53 | 21.93 | 17.09 | 16.89 | 20.05 | 22.31 | 28.43 | 31.94 | 32.58 |
| Other Liabilities | 31.57 | 27.38 | 49.53 | 56.48 | 57.03 | 48.28 | 52.61 | 55.78 | 60.81 | 63.38 |
| Total Liabilities | 63.52 | 60.07 | 74.18 | 69.19 | 58.11 | 48.32 | 46.26 | 44.67 | 40.7 | 39.14 |
| Fixed Assets | 26.71 | 26.58 | 24.76 | 24.91 | 23.38 | 20.72 | 18.72 | 16.12 | 13.62 | 11.49 |
| CWIP | 0 | 0.32 | 2.16 | 0.73 | 0 | 0.07 | 0 | 0 | 0 | 0 |
| Investments | 0.14 | 0.08 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 36.67 | 33.09 | 47.26 | 43.55 | 34.73 | 27.53 | 27.54 | 28.55 | 27.08 | 27.65 |
| Total Assets | 63.52 | 60.07 | 74.18 | 69.19 | 58.11 | 48.32 | 46.26 | 44.67 | 40.7 | 39.14 |

### Cash Flow

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

| Item | Mar 2010 | Mar 2011 | Jun 2012 | Jun 2013 | Jun 2014 | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 6.35 | 1.81 | 2.25 | 10.42 | 4.37 | 3.73 | 2.78 | 0.5 | 4.1 | 1.24 |
| Cash from Investing Activity | -4.61 | -2.61 | -3.28 | -1.87 | -0.38 | -0.45 | -0.03 | 0.15 | 0.09 | 0.01 |
| Cash from Financing Activity | -2.25 | 0.52 | 0.96 | -9.13 | -4.74 | -3.77 | -2.62 | -0.74 | -4.39 | -0.94 |
| Net Cash Flow | -0.51 | -0.28 | -0.07 | -0.58 | -0.75 | -0.48 | 0.12 | -0.09 | -0.2 | 0.31 |
| Free Cash Flow | 1.68 | -0.83 | -1.19 | 8.5 | 3.93 | 3.28 | 2.75 | 0.64 | 4.19 | 1.24 |
| CFO/OP | 213 | -35 | -20 | -286 | -45 | -42 | -44 | -16 | -184 | -108 |

### Ratios

| Item | Mar 2010 | Mar 2011 | Jun 2012 | Jun 2013 | Jun 2014 | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 66.66 | 54.19 | 83.15 | 101.13 | 103.92 | 68.21 | 83.96 | 77.13 | 97.19 | 175.77 |
| Inventory Days | 180.75 | 226.89 | 50.29 | 71.12 | 53.32 | 283.89 | 254.81 | — | 803 | — |
| Days Payable | 299.41 | 266.54 | 119.56 | 239.22 | 372.26 | 1831.01 | 3611.43 | — | 24683.12 | — |
| Cash Conversion Cycle | -52.01 | 14.53 | 13.88 | -66.97 | -215.01 | -1478.9 | -3272.66 | 77.13 | -23782.93 | 175.77 |
| Working Capital Days | 23.9 | -47.19 | -66.5 | -97.14 | -269.24 | -1162.45 | -3268.09 | -5541.11 | -6304.99 | -7796.2 |
| ROCE % | 9.48 | -22.25 | -33.17 | -31.75 | -176.5 | 108.93 | — | — | — | — |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Jun 2020 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 46.87% | 46.87% | 46.87% | 46.87% | 46.87% |
| DIIs | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Public | 53.11% | 53.11% | 53.11% | 53.11% | 53.11% |
| No. of Shareholders | 5743 | 5613 | 5589 | 5582 | 5587 |

### Quarterly

| Category | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 46.87% | 46.87% | 46.87% | 46.87% | 46.87% | 46.87% | 46.87% | 46.87% | 46.87% | 46.87% | 46.87% | 46.87% |
| DIIs | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Public | 53.11% | 53.11% | 53.11% | 53.11% | 53.11% | 53.11% | 53.11% | 53.11% | 53.11% | 53.11% | 53.11% | 53.11% |
| No. of Shareholders | 5673 | 5616 | 5613 | 5613 | 5598 | 5590 | 5589 | 5589 | 5588 | 5578 | 5582 | 5587 |

## 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) | 207.78 | Sell |
| EMA (10) | 207.04 | Sell |
| SMA (20) | 214.66 | Sell |
| EMA (20) | 212.35 | Sell |
| SMA (50) | 224.57 | Sell |
| EMA (50) | 221.34 | Sell |
| SMA (100) | 232.32 | Sell |
| EMA (100) | 230.64 | Sell |
| SMA (200) | 250.71 | Sell |
| EMA (200) | 244.31 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 36.66 | Neutral |
| MACD (12,26,9) | -6.36 | Sell |
| Stochastic (14,3,3) | 27.25 | Neutral |
| ADX (14) | 22.79 | Neutral |
| Williams %R (14) | -74.23 | Neutral |
| ATR (14) | 6.26 | High Volatility |
| ROC (12) | -7.53 | Sell |
| Stoch RSI (14) | 63.02 | Neutral |
| UO (7,14,28) | 38.87 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 7 May 2022 - Resolution for cancellation and delisting of existing shares from BSE and allotment of new shares pursuant to order passed by the Hon'ble NCLT Jaipur Bench … | [Announcement under Regulation 30 (LODR)-Meeting Updates 7 May 2022 - Resolution for cancellation and delisting of existing shares from BSE and allotment of new shares pursuant to order passed by the Hon'ble NCLT Jaipur Bench …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=743264f1-ee8b-4947-ac8f-042472b545fe.pdf) |
| 7 May 2022 - Resolution for cancellation and delisting of existing shares from BSE and allotment of new shares pursuant to order passed by the Hon'ble NCLT Jaipur Bench … | [Announcement under Regulation 30 (LODR)-Meeting Updates 7 May 2022 - Resolution for cancellation and delisting of existing shares from BSE and allotment of new shares pursuant to order passed by the Hon'ble NCLT Jaipur Bench …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/743264f1-ee8b-4947-ac8f-042472b545fe.pdf) |
| 3 Feb - 1-year marketing services Master CMO agreement with Definian Data (USA) worth Rs.81.40 Lakhs (USD90,000). | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 3 Feb - 1-year marketing services Master CMO agreement with Definian Data (USA) worth Rs.81.40 Lakhs (USD90,000).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d10dbbbf-5b78-4309-9a85-68b2353b38ff.pdf) |
| 25 Jan 2022 - Appointment of Mr. R. Balasubramanian (ACS: 5901) as the Company Secretary and Chief Financial Officer | [Appointment of Company Secretary and Compliance Officer 25 Jan 2022 - Appointment of Mr. R. Balasubramanian (ACS: 5901) as the Company Secretary and Chief Financial Officer](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c300f7a5-2ca5-4c20-8cc9-7a4384fca973.pdf) |
| 25 Jan 2022 - Appointment of Mr. R. Balasubramanian (ACS: 5901) as the Company Secretary and Chief Financial Officer | [Appointment of Company Secretary and Compliance Officer 25 Jan 2022 - Appointment of Mr. R. Balasubramanian (ACS: 5901) as the Company Secretary and Chief Financial Officer](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c300f7a5-2ca5-4c20-8cc9-7a4384fca973.pdf) |
| 21 Nov 2025 - With Para A of Schedule III and 46 (2) (oa) of SEBI (LODR) Regulations, 2015, please find enclosed the transcript of the Earnings Conference Call … | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript 21 Nov 2025 - With Para A of Schedule III and 46 (2) (oa) of SEBI (LODR) Regulations, 2015, please find enclosed the transcript of the Earnings Conference Call …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/716026ce-eb38-47cc-a2a9-17a303072c7f.pdf) |
| 18 Feb 2022 - Appointment of four new directors on the Board of company pursuant to Hon''ble NCLT order dated 13.10.2021 by the successful Resolution applicant. The ex directors … | [Announcement under Regulation 30 (LODR)-Change in Management 18 Feb 2022 - Appointment of four new directors on the Board of company pursuant to Hon''ble NCLT order dated 13.10.2021 by the successful Resolution applicant. The ex directors …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5705fcd2-eaf6-44c6-8f64-fb447ef007e5.pdf) |
| 18 Feb 2022 - Appointment of four new directors on the Board of company pursuant to Hon''ble NCLT order dated 13.10.2021 by the successful Resolution applicant. The ex directors … | [Announcement under Regulation 30 (LODR)-Change in Management 18 Feb 2022 - Appointment of four new directors on the Board of company pursuant to Hon''ble NCLT order dated 13.10.2021 by the successful Resolution applicant. The ex directors …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5705fcd2-eaf6-44c6-8f64-fb447ef007e5.pdf) |
| 17h - Board meeting on 9 March 2026 to consider 3rd interim dividend for FY2025-26. | [Board Meeting Intimation for Considering Declaration Of Interim Dividend (3Rd For 2025-26) 17h - Board meeting on 9 March 2026 to consider 3rd interim dividend for FY2025-26.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/e28d9b68-f3d9-4ab0-8872-8ec4c663ae70.pdf) |
| 17 Nov 2025 - Audio recording of 17.11.2025 earnings conference call for half-year ended 30 Sep 2025 uploaded. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 17 Nov 2025 - Audio recording of 17.11.2025 earnings conference call for half-year ended 30 Sep 2025 uploaded.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/536f3dc5-55dc-4cdf-bb5d-b48229dab90c.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Jun 2025 | [Concall - Jun 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cafc61e3-0b73-4452-bbc4-964873d75cc3.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6e631cc9-1184-4eae-8f66-0c9b63bb2d51.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/507522/5075220319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/507522/5075220318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/507522/5075220317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/507522/5075220316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/507522/5075220615.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/507522/5075220614.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/507522/5075220613.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/507522/5075220612.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 2026-09-13T18:40:45.911Z.