Mrugesh Trading
MRUGESHTRADINGLTD NSE
Mrugesh Trading
Financial ServicesNSE: MRUGESHTRADINGLTD BSE: 512065 NBFC
Key Fundamentals
MicrocapNBFCFinancial ServicesMarket Cap
₹7,243 Cr
Volatility
Moderate
P/E Ratio
0
EBITDA
₹-1.32 Cr
Return on Equity
1.88%
Debt to Equity
0.01
Book Value
₹1
EPS
₹0
52W High
₹115.3
52W Low
₹0.72
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company is almost debt free.
Weaknesses
7- Stock is trading at 98.4 times its book value
- Company has low interest coverage ratio.
- Promoter holding is low: 0.25%
- Company has a low return on equity of 0.17% over last 3 years.
- Company has high debtors of 255 days.
- Promoter holding has decreased over last 3 years: -74.1%
- Working capital days have increased from 658 days to 990 days
Growth Rate
Revenue Growth
-43.91%
Net Income Growth
-180%
Cash Flow Change
-17.85% level than
3Y
ROE
-102% lower than
3Y
ROCE
-116% higher than
3Y
EBITDA Margin (Avg.)
-627%
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 69d agoAI opinion · based on fundamentals
Risk high
Mrugesh Trading Ltd is a micro-cap financial services company with a market cap of Rs 4,277.6 crore trading at 59.3x book value, with near-zero promoter holding at 0.25% and a TTM sales decline of 44%. The company reports negligible return on equity of 0.17% over 3 years and has shifted to a net loss position with TTM profit growth at -169%.
Bull Case 5
- Company is almost debt free, reducing solvency risk and interest burden on the balance sheet
- 10-year compounded sales growth of 102% indicates the business achieved significant revenue scale-up over the longer term
- Debt-free status provides financial flexibility to pursue new opportunities without lender constraints
- Micro-cap positioning with Rs 4,277.6 crore market cap offers optionality if business fundamentals improve materially
- Absence of significant debt means no refinancing risk in a rising interest rate environment
Bear Case 8
- Stock trades at 59.3x book value, an extreme premium with no earnings growth to justify the valuation
- Promoter holding is critically low at just 0.25%, signaling lack of skin in the game by insiders
- Promoter holding has declined by 74.1% over the last 3 years, indicating sustained insider selling
- TTM sales have declined 44%, showing severe revenue deterioration in the most recent period
- TTM profit growth is -169%, meaning the company has swung from profit to a net loss
- Return on equity is just 0.17% over the last 3 years, indicating virtually no value creation for shareholders
- Debtor days stand at 255 days, suggesting poor receivables management and potential collection issues
- Working capital days have ballooned from 658 to 990 days, indicating severely strained operational cash conversion
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 69d ago Neutral 1
- Registered office shifts to Andheri Jun 25
Board approved relocation from Shivaji Park to INNOV8 Times Square, Andheri East, effective June 25, 2026. Administrative move with no direct business impact.
TL;DR: Limited news flow for Mrugesh Trading Ltd. The only recent development is an administrative office relocation to Andheri East, which has no material impact on operations or financials. With no substantive business updates, the outlook remains unchanged and driven by broader market conditions in the financial services space.
Quarterly Results
| Particulars | Jun 2023 | 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 | 0 | 0 | 0 | 0 | 0 | 10.9 | 1.56 | 7.78 | 0 | 0.98 | 3.84 | 6.51 | 0.43 |
| Expenses | 0 | 0 | 0 | 0 | 0.05 | 9.99 | 1.55 | 8.24 | 0.05 | 1.01 | 3.49 | 8.09 | 0.62 |
| Financing Profit | 0 | 0 | 0 | 0 | -0.05 | 0.91 | 0.01 | -0.46 | -0.05 | -0.03 | 0.35 | -1.58 | -0.19 |
| Fin. Margin % | — | — | — | — | — | 8.35% | 0.64% | -5.91% | — | -3.06% | 9.11% | -24.27% | -44.19% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.08 | 0.28 |
| Interest | 0 | 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 | 0 |
| PBT | 0 | 0 | 0 | 0 | -0.05 | 0.91 | 0.01 | -0.46 | -0.05 | -0.03 | 0.35 | -0.5 | 0.09 |
| Tax % | — | — | — | — | 0% | 24.18% | 0% | -34.78% | 0% | 0% | 25.71% | 0% | 0% |
| Net Profit | 0 | 0 | 0 | 0 | -0.05 | 0.7 | 0.01 | -0.31 | -0.05 | -0.03 | 0.26 | -0.5 | 0.09 |
| EPS in Rs | 0 | 0 | 0 | 0 | -0.2 | 2.8 | 0.04 | -1.24 | -0.2 | -0.12 | 0 | -0.01 | 0 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.04 | 0.01 | 0.11 | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 20.24 | 11.33 | 11.76 |
| Expenses | 0.03 | 0.04 | 0.05 | 0.05 | 0.05 | 0.1 | 0.12 | 0.03 | 0.01 | 0.02 | 19.83 | 12.64 | 13.21 |
| Financing Profit | 0 | -0.05 | 0.04 | -0.06 | -0.06 | -0.12 | -0.13 | -0.03 | -0.01 | -0.02 | 0.41 | -1.31 | -1.45 |
| Fin. Margin % | 0% | -500% | 36.36% | -600% | -600% | — | — | — | — | — | 2.03% | -11.56% | -12.33% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.08 | 1.36 |
| Interest | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 0 | -0.05 | 0.04 | -0.06 | -0.06 | -0.12 | -0.13 | -0.03 | -0.01 | -0.02 | 0.41 | -0.23 | -0.09 |
| Tax % | — | 0% | 0% | 0% | 0% | 0% | 7.69% | 0% | 0% | 0% | 14.63% | 0% | — |
| Net Profit | 0 | -0.05 | 0.04 | -0.06 | -0.06 | -0.12 | -0.14 | -0.03 | -0.01 | -0.02 | 0.35 | -0.24 | -0.18 |
| EPS in Rs | 0 | -0.2 | 0.16 | -0.24 | -0.24 | -0.48 | -0.56 | -0.12 | -0.04 | -0.08 | 1.4 | 0 | -0.13 |
| Div. Payout % | — | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 72.25 |
| Reserves | -0.08 | -0.13 | 0.11 | 0.06 | 0.05 | -0.05 | -0.19 | -0.21 | -0.22 | -0.23 | 18.12 | -0.12 |
| Borrowing | 0.21 | 0.24 | 0.29 | 0.26 | 0.15 | 0.24 | 0 | 0.1 | 0.1 | 0.1 | 0 | 2.52 |
| Other Liabilities | 0.15 | 0.16 | 0.16 | 0.17 | 0.17 | 0.2 | 0.22 | 0.14 | 0.01 | 0.03 | 0.27 | 0.13 |
| Total Liabilities | 0.53 | 0.52 | 0.81 | 0.74 | 0.62 | 0.64 | 0.28 | 0.28 | 0.14 | 0.15 | 18.64 | 74.78 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.25 | 0.25 | 0.45 | 0.45 | 0.43 | 0.45 | 0 | 0.15 | 0 | 0 | 0 | 0 |
| Other Assets | 0.28 | 0.27 | 0.36 | 0.29 | 0.19 | 0.19 | 0.28 | 0.13 | 0.14 | 0.15 | 18.63 | 74.77 |
| Total Assets | 0.53 | 0.52 | 0.81 | 0.74 | 0.62 | 0.64 | 0.28 | 0.28 | 0.14 | 0.15 | 18.64 | 74.78 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 0.02 | -0.04 | -0.03 | 0.05 | -0.04 | -0.09 | -0.1 | 0.02 | 0 | 0 | -17.85 | -56.38 |
| Investing | -0.21 | 0 | 0 | 0 | -0.03 | 0 | 0.45 | 0 | 0 | 0 | -0.01 | 0 |
| Financing | 0.19 | 0.04 | 0.03 | -0.05 | 0.07 | 0.09 | -0.24 | 0 | 0 | 0 | 17.89 | 56.52 |
| Net Cash Flow | 0 | 0 | 0 | 0 | 0 | 0 | 0.12 | 0.02 | 0 | 0 | 0.03 | 0.14 |
| Free Cash Flow | 0.02 | -0.04 | -0.03 | 0.05 | -0.04 | -0.09 | -0.1 | 0.02 | 0 | 0 | -17.86 | -56.38 |
| CFO/OP | 200 | 133 | -33 | -125 | 100 | 90 | 83 | -67 | 0 | 0 | -4,339 | 4,304 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 0% | -34.48% | 16.67% | -17.91% | -19.67% | -48% | -107.69% | -60% | -28.57% | -80% | 3.81% | -0.53% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Mrugesh Trading insights
59 extracted metrics + investor summaries across FY11–FY26.
Documents
1
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
30 Apr - Company confirms it is not a Large Corporate; outstanding borrowing was NIL as of 31 March 2026. 30 Apr - Company confirms it is not a Large Corporate; outstanding borrowing was NIL as of 31 March 2026.
2
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
30 Apr - Company confirms it is not a Large Corporate; outstanding borrowing was NIL as of 31 March 2026. 30 Apr - Company confirms it is not a Large Corporate; outstanding borrowing was NIL as of 31 March 2026.
3
Board Meeting Outcome for Outcome Of Board Meeting & Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015.
23 Apr - Board approved shifting books-of-accounts address in Ahmedabad, effective 23 April 2026. 23 Apr - Board approved shifting books-of-accounts address in Ahmedabad, effective 23 April 2026.
4
Announcement under Regulation 30 (LODR)-Change in Corporate Office Address
23 Apr - Board approved shifting books and papers address within Ahmedabad, effective 23 April 2026. 23 Apr - Board approved shifting books and papers address within Ahmedabad, effective 23 April 2026.
5
Board Meeting Outcome for Outcome Of Board Meeting & Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015.
11h - Board approved shifting books-of-accounts address in Ahmedabad, effective 23 April 2026. 11h - Board approved shifting books-of-accounts address in Ahmedabad, effective 23 April 2026.
1
Board Meeting Outcome for Outcome Of Board Meeting Held Today I.E. Tuesday 8Th September 2026 8 Sept 2026
Outcome
Frequently Asked Questions about Mrugesh Trading
What does Mrugesh Trading Ltd do?
Incorporated in 1984, Mrugesh Trading Ltd trades in commodities and deals in commission income[1]
Where is Mrugesh Trading Ltd (512065) listed?
Mrugesh Trading Ltd trades as MRUGESHTRADINGLTD on the NSE and under code 512065 on the BSE.
Which sector does Mrugesh Trading Ltd belong to?
Mrugesh Trading Ltd is classified under the Financial Services sector, in the NBFC industry.
What is the market capitalisation of Mrugesh Trading Ltd?
Mrugesh Trading Ltd has a market capitalisation of ₹7,243 Cr, which places it in the Mid Cap band.
What is the PE ratio of Mrugesh Trading Ltd?
Mrugesh Trading Ltd trades at a PE ratio of 0.00, on earnings per share of ₹0, against a book value of ₹1 per share.
What is the 52-week high and low of Mrugesh Trading Ltd?
Over the last 52 weeks Mrugesh Trading Ltd has traded between ₹0.72 and ₹115.3.
What is the Return on Equity (ROE) of Mrugesh Trading Ltd?
Mrugesh Trading Ltd reported a return on equity of 1.88%. Its debt-to-equity ratio is 0.01.
Company Information
Incorporated in 1984, Mrugesh Trading Ltd trades in commodities and deals in commission income[1]
Website mrugeshtrading.com
Face Value ₹ 1
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