---
title: "Saraswati Commercial (India) Ltd (512020) — Share Price, Financials & Analysis"
symbol: "512020"
company: "Saraswati Commercial (India) Ltd"
canonical: "https://tapetide.com/stocks/512020"
isin: "INE967G01019"
nse_symbol: "ZSARACOM"
bse_code: "512020"
sector: "Financial Services"
industry: "NBFC"
market_cap_cr: 1226.34
generated_at: "2026-09-13T18:23:46.631Z"
---

# Saraswati Commercial (India) Ltd (512020)

Canonical page: https://tapetide.com/stocks/512020

## Company

- **NSE Symbol:** ZSARACOM
- **BSE Code:** 512020
- **ISIN:** INE967G01019
- **Sector:** Financial Services
- **Industry:** NBFC
- **Macro Sector:** Financial Services
- **Stock Type:** EQUITY
- **Listed Since:** 2026-04-20
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** saraswaticommercial.com

## About

Incorporated in 1983, Saraswati Commercial (India) Ltd deals in shares and securities & lending[1]

## Latest Price

- **Price:** ₹10797
- **Change:** -393 (-3.51%)
- **Open:** ₹11100
- **Day High:** ₹11190
- **Day Low:** ₹10221
- **Previous Close:** ₹11190
- **Volume:** 43
- **As Of:** 2026-09-11T09:44:39+00:00

## Key Fundamentals

Observed at 2026-09-11T04:52:33.537855Z.

- **Market Cap:** ₹1226.34 Cr
- **Classification:** Microcap
- **P/E (reported):** 9.3
- **P/E (TTM):** 8.94
- **EPS (TTM):** ₹1207.13
- **Book Value:** ₹10050.17
- **Price to Book:** 1.11
- **Dividend Yield:** 0%
- **ROE:** 5.49%
- **ROCE:** 6.36%
- **Debt to Equity:** 0.03
- **Revenue (yearly):** ₹120.96 Cr
- **Net Income:** ₹98.45 Cr
- **EBITDA:** ₹115.33 Cr
- **52-Week High:** ₹14400
- **52-Week Low:** ₹9000
- **RSI (14):** 47.01

## Tapetide Score

- **Score:** 67 / 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: Fair · Momentum: Rising
- **Percentile:** 98.2 (of 4473 scored stocks)
- **Confidence:** 94%
- **Data coverage:** 88%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 98.9 | 9% |
| growth | 98.9 | 9% |
| momentum | 65.07 | 12% |
| ownership | 50 | 24% |
| quality | 71.26 | 22% |
| valuation | 59.22 | 24% |

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

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 1.08 times its book value
- Company is expected to give good quarter
- Company has delivered good profit growth of 34.0% CAGR over last 5 years

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 10.4% over last 3 years.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -73.5% | -67.61% | 278.37% |
| ebitda margin growth | 511.05% | 2.14% | -2.23% | -2.08% |
| net income growth | 490.18% | 84.36% | 99% | 34% |
| revenue growth | 558.18% | 60.42% | 72% | 34% |
| roce | -511% | -61.59% | 49.3% | 10.84% |
| roe | -489.7% | -62.93% | 7.65% | -27.57% |

## 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 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue | 29 | 40 | 30 | 68 | 78 | -45 | -26 | 31 | 73 | 33 | -16 | 76 |
| Expenses | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 2 | 1 | 1 | 2 | 1 |
| Financing Profit | 28 | 39 | 29 | 67 | 77 | -46 | -28 | 29 | 72 | 30 | -19 | 74 |
| Financing Margin % | 96 | 97 | 95 | 98 | 98 | 103 | 108 | 93 | 98 | 92 | 113 | 98 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 28 | 39 | 29 | 67 | 77 | -46 | -28 | 29 | 72 | 30 | -19 | 74 |
| Tax % | 14 | 14 | 22 | 22 | 17 | -15 | -19 | 19 | 16 | 18 | -13 | 15 |
| Net Profit | 24 | 33 | 22 | 52 | 63 | -39 | -23 | 24 | 60 | 25 | -16 | 64 |
| EPS in Rs | 231.09 | 323.53 | 217.21 | 509.27 | 614.91 | -382.56 | -209.51 | 215.17 | 550.23 | 225.84 | -148.92 | 579.98 |

### 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 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue | 16 | 9 | 1 | 28 | 87 | 24 | 128 | 75 | 121 | 165 |
| Expenses | 2 | 2 | 14 | 2 | 2 | 3 | 3 | 5 | 6 | 5 |
| Financing Profit | 14 | 7 | -13 | 25 | 84 | 19 | 123 | 69 | 112 | 158 |
| Financing Margin % | 84 | 80 | -959 | 89 | 96 | 80 | 96 | 91 | 93 | 95 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 2 | 1 | 2 | 2 | 2 | 3 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 14 | 7 | -13 | 25 | 84 | 19 | 123 | 69 | 112 | 158 |
| Tax % | -17 | 10 | -26 | 14 | 22 | 39 | 16 | 22 | 18 | — |
| Net Profit | 16 | 7 | -10 | 21 | 65 | 12 | 104 | 53 | 92 | 132 |
| EPS in Rs | 159.56 | 66.64 | -96.01 | 213.21 | 629.96 | 113.21 | 1008.93 | 487.36 | 842.32 | 1207.13 |
| 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 | 0.64 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 115 | 128 | 135 | 155 | 275 | 421 | 432 | 689 | 958 | 1091 |
| Borrowing | 8 | 32 | 0 | 10 | 5 | 28 | 22 | 0 | 43 | 0 |
| Other Liabilities | 9 | 1 | 0 | 0 | 12 | 30 | 26 | 67 | 91 | 108 |
| Total Liabilities | 133 | 162 | 137 | 166 | 293 | 480 | 482 | 758 | 1093 | 1201 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 97 | 119 | 117 | 135 | 286 | 465 | 480 | 749 | 1069 | 1080 |
| Other Assets | 36 | 42 | 20 | 31 | 7 | 14 | 2 | 8 | 25 | 121 |
| Total Assets | 133 | 162 | 137 | 166 | 293 | 480 | 482 | 758 | 1093 | 1201 |

### 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 | -23 | -6 | -16 | -18 | -5 | 50 | 27 | 33 | 9 | — |
| Cash from Investing Activity | 27 | 8 | 16 | 16 | 4 | -81 | -22 | -7 | -108 | — |
| Cash from Financing Activity | -3 | -3 | 0 | 9 | -7 | 33 | -7 | -24 | 120 | — |
| Net Cash Flow | 2 | -1 | 0 | 7 | -7 | 2 | -2 | 2 | 20 | — |
| Free Cash Flow | -23 | -6 | -16 | -18 | -5 | 50 | 27 | 33 | 9 | — |
| CFO/OP | -282 | -35 | -199 | 136 | -19 | 68 | 186 | 36 | 33 | — |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ROE % | 7 | 13 | 5 | -7 | 10 | 19 | 3 | 18 | 6 | 9 |

## 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 | 72.32% | 72.32% | 72.32% | 72.32% | 72.32% | 72.32% | 73.99% | 73.99% | 73.99% | 73.99% | 74.88% | 74.88% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 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 | 9.88% | 9.84% | 9.78% | 9.82% | 9.74% | 9.78% | 9.17% | 9.2% | 9.21% | 9.21% | 8.31% | 8.31% |
| Others | 17.79% | 17.84% | 17.9% | 17.86% | 17.94% | 17.9% | 16.84% | 16.81% | 16.8% | 16.8% | 16.81% | 16.81% |
| No. of Shareholders | 1780 | 1765 | 1999 | 1970 | 2936 | 3106 | 3225 | 3130 | 3161 | 2968 | 2905 | 2826 |

## Technical Indicators

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

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

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 10961.9 | Sell |
| EMA (10) | 11104.41 | Sell |
| SMA (20) | 11468.55 | Sell |
| EMA (20) | 11308.88 | Sell |
| SMA (50) | 11934.24 | Sell |
| EMA (50) | 11384.5 | Sell |
| SMA (100) | 10779.87 | Buy |
| EMA (100) | 11207.92 | Sell |
| SMA (200) | 11238.88 | Sell |
| EMA (200) | 11434.5 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 42.96 | Neutral |
| MACD (12,26,9) | -239.28 | Sell |
| Stochastic (14,3,3) | 43.81 | Neutral |
| ADX (14) | 12.8 | Neutral |
| Williams %R (14) | -59.83 | Neutral |
| ATR (14) | 689.28 | High Volatility |
| ROC (12) | -4.12 | Sell |
| Stoch RSI (14) | 55.49 | Neutral |
| UO (7,14,28) | 54.64 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-01 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=afb0a251-4eb7-4608-97f1-88ece2c591f5.pdf) |
| 2026-08-31 | [Notice Of The 43Rd Annual General Meeting Of Saraswati Commercial (India) Limited.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fb2f1892-61a1-4706-8184-18293fbde4b0.pdf) |
| 2026-08-31 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2a1a56a0-b492-497f-9a32-f81602fa6e82.pdf) |
| 2026-08-31 | [Letter To Members - Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 2015.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ae57b9f6-1f2d-4fbd-b21f-8d00057a2391.pdf) |
| 2026-08-28 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=967e0391-2c54-45ab-995b-29dfb71ec1c8.pdf) |
| 2026-08-13 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=805d90d5-d647-4c2e-b555-17bf471d2bd6.pdf) |
| 2026-08-12 | [Board Meeting Outcome for Outcome Of The Board Meeting Held On Wednesday 12Th August 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1d691059-4647-49c9-bba4-b75cfebc5db2.pdf) |
| 2026-08-12 | [Announcement under Regulation 30 (LODR)-Change in Directorate](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=05a65f45-9c46-4c06-b21d-3cd6bdb99d3c.pdf) |
| 2026-08-12 | [Register Of Members And Share Transfer Books Of The Company Will Remain Closed From Thursday 17Th September 2026 To Thursday 24Th September 2026 (Both Days Inclusive) For The Purpose Of The 43Rd Annual General Meeting Of The Company Scheduled To Be Held O](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ef59803b-4b3f-4745-afca-d345ee66d0b3.pdf) |
| 2026-08-12 | [43RD ANNUAL GENERAL MEETING OF SARASWATI COMMERCIAL (INDIA) LIMITED](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0c281714-536e-4208-be7b-76a9954ad8a4.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-12 | [Considered And Approved The Un-Audited Standalone And Consolidated Financial Results For The Quarter Ended 30Th June 2026 Along With The Limited Review Report From Statutory Auditors For The Corresponding Period.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0686aec1-a70c-4945-9d63-22b38b2ef3b9.pdf) |
| 2026-05-26 | [Considered & Approved Audited Standalone And Consolidated Financial Results For The Quarter & Year Ended 31St March 2026 Along With The Auditors Report For The Corresponding Period & Declaration Pursuant To Regulation 33(3)(D) Of SEBI LODR (Amendment) Re](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=06936053-92bb-4c3c-9627-864b2acf37f7.pdf) |
| 2026-02-12 | [Considered & Approved Un-Audited Standalone And Consolidated Financial Results For The Quarter & Nine Months Ended 31St December 2025 Along With The Limited Review Report From Statutory Auditors For The Corresponding Period.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9db4c7f0-d338-4338-9248-47f860316569.pdf) |
| 2025-11-12 | [Considered And Approved The Un-Audited Standalone And Consolidated Financial Results For The Quarter & Half Year Ended 30Th September 2025 Along With The Limited Review Report From Statutory Auditors For The Corresponding Period.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7615752c-b1a2-4e64-a51b-1123d39f59b3.pdf) |
| 2025-08-13 | [Considered And Approved The Un-Audited Standalone And Consolidated Financial Results For The Quarter Ended 30Th June 2025 Along With The Limited Review Report From Statutory Auditors For The Corresponding Period.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f32fcab1-5059-42cf-a5e7-3f2a39716dba.pdf) |
| 2025-05-27 | [Considered & Approved The Audited Standalone And Consolidated Financial Results Of The Company For The Quarter And Financial Year Ended On 31St March 2025 & Auditors Report On The Same & Declaration Pursuant To Regulation 33(3)(D) Of SEBI (Listing Obligat](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0edd7cc6-1fec-435e-b1ec-86f3ecd3e518.pdf) |
| 2025-02-11 | [Un-Audited Standalone & Consolidated Financial Results Of The Company For The Quarter And Nine Months Ended 31St December 2024 & Limited Review Report For The Same.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=95a27161-5174-4a60-a6d5-6e68055a88a0.pdf) |
| 2024-11-12 | [Un-Audited Standalone & Consolidated Financial Results Of The Company For The Quarter And Half Year Ended 30Th September, 2024 & Limited Review Report For The Same.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2da036ed-1262-4518-ac9f-32ee09d42237.pdf) |
| 2024-08-12 | [To Consider & Approve Un Audited Standalone & Consolidated Financial Results For The Quarter Ended 30.06.2024 Along With The Limited Review Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a87d54a1-1113-447e-b79a-6f0cca57354d.pdf) |
| 2024-05-27 | [Audited Standalone And Consolidated Financial Results Of The Company For The Quarter And Financial Year Ended On 31St March, 2024 Along With Auditor''''s Report Thereon.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8b5ab19f-9f5e-4316-821a-135e10f889dc.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 8h - Saraswati Commercial shares admitted to NSE 'Permitted to Trade' from April 20, 2026. | [Equity Shares Of Saraswati Commercial (India) Limited Included Under The 'Permitted To Trade And Admitted To Dealings' On National Stock Exchange Of India Limited (NSE). 8h - Saraswati Commercial shares admitted to NSE 'Permitted to Trade' from April 20, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/d964abb9-9240-436b-8945-dbcbe3e651cf.pdf) |
| 8 Apr - On 8 April 2026, company disclosed it is not a Large Corporate under SEBI debt framework. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 8 Apr - On 8 April 2026, company disclosed it is not a Large Corporate under SEBI debt framework.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9bcfbd47-c2d4-4dc2-8a58-af217a00fb72.pdf) |
| 8 Apr - Company confirms it is not a Large Corporate for FY2026; annual disclosure not applicable. | [Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2 8 Apr - Company confirms it is not a Large Corporate for FY2026; annual disclosure not applicable.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/619a7767-9f6a-4a0c-b8fe-87c0d4830857.pdf) |
| 7 Jan - RTA confirmed dematerialisation details for ADOR Welding for quarter 01 Oct–31 Dec 2025 (letter dated 01 Jan 2026). | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 7 Jan - RTA confirmed dematerialisation details for ADOR Welding for quarter 01 Oct–31 Dec 2025 (letter dated 01 Jan 2026).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0fb91f2b-0408-4cda-ab4e-56a6608c0b3e.pdf) |
| 6 Apr - RTA certificate filed for Regulation 74(5) compliance for quarter ended March 31, 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 6 Apr - RTA certificate filed for Regulation 74(5) compliance for quarter ended March 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/591fb755-21a0-4a9e-ad13-b1583bbdd5e0.pdf) |
| 5 Feb - Newspaper publication regarding special window for transfer and dematerialisation of physical securities of Saraswati Commercial (India) Limited. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 5 Feb - Newspaper publication regarding special window for transfer and dematerialisation of physical securities of Saraswati Commercial (India) Limited.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/441f377e-7e65-4955-9681-cb4ecb3fd03b.pdf) |
| 5 Feb - Board meeting on 12 Feb 2026 to approve Q3/9M results for quarter ended 31 Dec 2025. | [Board Meeting Intimation for Forthcoming Meeting Of Board To Be Held On Thursday, 12Th February, 2026. 5 Feb - Board meeting on 12 Feb 2026 to approve Q3/9M results for quarter ended 31 Dec 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/53aabe11-9c92-46ff-a20a-2adf2fcc5abf.pdf) |
| 25 Mar - Trading window closed from April 01, 2026 until 48 hours after audited Q4/FY2026 results declaration. | [Closure of Trading Window 25 Mar - Trading window closed from April 01, 2026 until 48 hours after audited Q4/FY2026 results declaration.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4160b676-d1a0-4f38-968f-ae5e5771a654.pdf) |
| 20 Apr - Saraswati Commercial shares admitted to NSE 'Permitted to Trade' from April 20, 2026. | [Equity Shares Of Saraswati Commercial (India) Limited Included Under The 'Permitted To Trade And Admitted To Dealings' On National Stock Exchange Of India Limited (NSE). 20 Apr - Saraswati Commercial shares admitted to NSE 'Permitted to Trade' from April 20, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d964abb9-9240-436b-8945-dbcbe3e651cf.pdf) |
| 20 Apr - Annual Secretarial Compliance Report for FY2026 filed; no deviations, no SEBI or stock exchange action. | [Compliances-Reg.24(A)-Annual Secretarial Compliance 20 Apr - Annual Secretarial Compliance Report for FY2026 filed; no deviations, no SEBI or stock exchange action.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/93bbb2c0-57d9-462e-b586-f2af87f7a533.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2025 | [Concall - Oct 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0d6db0bd-21dd-4b0e-9185-98e3e27d7125.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0111138d-3744-436e-8df3-fa0359959659.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ed4d6e7c-91d1-4720-a73a-df4009947205.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ed76bb7e-2abc-4ced-8412-133a92fa7112.pdf) |
| Nov 2016 | [Concall - Nov 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=A7E07929_33E4_4D60_A760_C28EBD756454_163656.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2dc650dd-4f38-4124-8f81-50727d62b226.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d8f0d557-11e4-4005-a983-684d0f07f84f.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9fc1abf9-ecc1-4aed-90f8-9f8314f3449e.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b7200735-45c0-4523-a9ea-4a181eb53cd2.pdf) |
| May 2016 | [Concall - May 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=CA9B0CCA_1A14_4679_8BC8_C634C9823C49_170352.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2013 from nse](https://archives.nseindia.com/annual_reports/AR_539_ADORWELD_2012_2013_16072013134530.zip) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/51600047-fae2-4af9-9de2-b8ad5b5f7cc9.pdf) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a319b76f-2fd6-4628-b67a-e1d6f032b5b4.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4ec43659-c218-45a4-ace6-7506cc74e908.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/628d30a1-e759-4ef4-8749-d436c44edb30.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ba4379c3-efc5-4b6b-8c8b-c79aab986926.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2c7e696f-8050-4000-b9c2-97298faba776.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/517041/73406517041.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/512020/75013512020.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/517041/68972517041.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 2026-09-13T18:23:46.631Z.