---
title: "Ratnabali Capital Markets Pvt Ltd (531391) — Share Price, Financials & Analysis"
symbol: "531391"
company: "Ratnabali Capital Markets Pvt Ltd"
canonical: "https://tapetide.com/stocks/531391"
isin: "INE050D01011"
bse_code: "531391"
sector: "Financial Services"
industry: "Finance"
generated_at: "2026-09-13T18:36:25.144Z"
---

# Ratnabali Capital Markets Pvt Ltd (531391)

Canonical page: https://tapetide.com/stocks/531391

## Company

- **BSE Code:** 531391
- **ISIN:** INE050D01011
- **Sector:** Financial Services
- **Industry:** Finance
- **Macro Sector:** Financial Services
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** ratnabali.com

## About

Ratnabali Capital Markets Limited operates as a stock broking company in India. Its products and services comprise equity trading, futures and options trading, currency derivatives trading, depository services, initial public offerings and mutual funds investment, and commodity trading services.

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.52 times its book value
- Company's working capital requirements have reduced from 71.1 days to 31.4 days

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -13.6% over past five years.
- Tax rate seems low
- Company has a low return on equity of 12.7% over last 3 years.
- Earnings include an other income of Rs.7.11 Cr.
- Company's cost of borrowing seems high

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -89% | 47% | -17% |
| revenue growth | 16% | 5% | -14% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 14 | 20 | 25 | 27 | 35 | 42 | 51 |
| Expenses | 11 | 17 | 20 | 22 | 28 | 35 | 43 |
| Operating Profit | 3 | 2 | 5 | 5 | 7 | 7 | 8 |
| OPM % | 22 | 12 | 21 | 18 | 20 | 18 | 17 |
| Other Income | 0 | 0 | 0 | 1 | 1 | 1 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 3 | 3 | 6 | 6 | 8 | 8 | 10 |
| Tax % | 25 | 26 | 25 | 27 | 25 | 24 | 27 |
| Net Profit | 2 | 2 | 4 | 4 | 6 | 6 | 7 |
| EPS in Rs | 1610.74 | 2.49 | 4.36 | 4.48 | 6.13 | 6.65 | 7.4 |

### Profit & Loss

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

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 962 | 1246 | 1129 | 1004 | 839 | 510 | 344 | 255 | 349 | 403 |
| Expenses | 939 | 1221 | 1126 | 991 | 825 | 500 | 346 | 251 | 306 | 403 |
| Operating Profit | 23 | 25 | 3 | 13 | 13 | 10 | -2 | 4 | 43 | 0 |
| OPM % | 2.4 | 2 | 0.2 | 1.3 | 1.6 | 2 | -0.6 | 1.5 | 12 | 0 |
| Other Income | 0 | 0 | 3 | 0 | 0 | 0 | -3 | 1 | 0 | 7 |
| Interest | 5 | 5 | 1 | 3 | 4 | 2 | 2 | 4 | 7 | 3 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Profit before tax | 18 | 20 | 5 | 10 | 9 | 8 | -8 | 0 | 35 | 4 |
| Tax % | 11 | 10 | 24 | -2 | -6 | 22 | -18 | 2620 | 2 | 1 |
| Net Profit | 16 | 18 | 4 | 11 | 10 | 6 | -7 | -1 | 35 | 4 |
| EPS in Rs | 31.6 | 34.94 | 6.73 | 20.49 | 18.47 | 11.4 | -12.53 | -2.44 | 66.44 | 7.25 |
| Dividend Payout % | 19 | 20 | 59 | 24 | 22 | 26 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | 48 | 62 | 63 | 71 | 78 | 82 | 75 | 74 | 109 | 112 |
| Borrowings | 37 | 0 | 0 | 15 | 49 | 12 | 18 | 38 | 71 | 2 |
| Other Liabilities | 9 | 11 | 12 | 5 | 10 | 7 | 4 | 10 | 6 | 5 |
| Total Liabilities | 99 | 78 | 80 | 96 | 142 | 106 | 103 | 128 | 191 | 124 |
| Fixed Assets | 1 | 1 | 2 | 3 | 2 | 2 | 2 | 2 | 2 | 2 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 12 | 11 | 10 | 26 | 14 | 19 | 49 | 44 | 62 | 70 |
| Other Assets | 85 | 66 | 68 | 67 | 126 | 85 | 51 | 81 | 128 | 53 |
| Total Assets | 99 | 78 | 80 | 96 | 142 | 106 | 103 | 128 | 191 | 124 |

### Cash Flow

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

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 9 | 26 | -11 | -13 | -45 | 44 | 34 | -31 | -13 | 78 |
| Cash from Investing Activity | 5 | 25 | 9 | 14 | 16 | -3 | -35 | 13 | -14 | -7 |
| Cash from Financing Activity | -35 | -45 | -1 | 10 | 28 | -41 | 2 | 17 | 27 | -72 |
| Net Cash Flow | -21 | 5 | -3 | 11 | 0 | 0 | 1 | 0 | 0 | 0 |
| Free Cash Flow | 8 | 25 | -12 | -14 | -45 | 44 | 33 | -31 | -13 | 78 |
| CFO/OP | 39 | 114 | -423 | -92 | -342 | 445 | -1730 | -824 | -27 | -87222 |

### Ratios

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 1 | 2 | 0 | 1 | 9 | 16 | 0 | 12 | 0 | 0 |
| Inventory Days | 22 | 7 | 10 | 8 | 30 | 20 | 30 | 61 | 123 | 31 |
| Days Payable | 1 | 0 | 0 | 0 | 0 | 1 | 2 | 1 | 1 | 0 |
| Cash Conversion Cycle | 22 | 8 | 10 | 9 | 38 | 34 | 28 | 72 | 123 | 30 |
| Working Capital Days | 22 | 9 | 11 | 10 | 35 | 33 | 28 | 75 | 107 | 31 |
| ROCE % | 24 | 32 | 8 | 16 | 11 | 8 | -2 | 4 | 28 | 4 |

## Shareholding Pattern

### annual

| Category | Mar 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- |
| Promoters | 51.73% | 51.7% | 51.7% |
| FIIs | 0% | 1.05% | 1.04% |
| DIIs | 3.36% | 7.51% | 9.43% |
| Public | 44.91% | 39.74% | 37.83% |
| No. of Shareholders | 1016 | 1709 | 1723 |

### Quarterly

| Category | Jun 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 51.69% | 51.71% | 51.73% | 51.73% | 51.7% | 51.7% |
| FIIs | 9.73% | 2.53% | 0% | 1.04% | 1.05% | 1.04% |
| DIIs | 6.8% | 0.03% | 3.36% | 5.94% | 7.51% | 9.43% |
| Public | 31.79% | 45.73% | 44.91% | 41.29% | 39.74% | 37.83% |
| No. of Shareholders | 830 | 675 | 1016 | 1409 | 1709 | 1723 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 February 2026 - Allotted 9,787 ESOP shares at ₹10 on Feb 9, 2026; total shares now 97,06,759. | [ESOP/ESOS/ESPS 9 February 2026 - Allotted 9,787 ESOP shares at ₹10 on Feb 9, 2026; total shares now 97,06,759.](https://nsearchives.nseindia.com/corporate/INFOLLION_09022026130454_INFOLLION_Allotment_of_shares_under_ESOP_09062026.pdf) |
| 28 November 2025 - Virtual analyst/investor meeting on Dec 4, 2025 at 11:00 AM IST; no UPSI. | [Analysts/Institutional Investor Meet/Con. Call Updates 28 November 2025 - Virtual analyst/investor meeting on Dec 4, 2025 at 11:00 AM IST; no UPSI.](https://nsearchives.nseindia.com/corporate/INFOLLION_28112025201735_Intimation_of_schedule_of_investor_meet.pdf) |
| 19 January 2026 - Reconciliation of share capital audit for quarter ended Dec 31, 2025; issued shares 96,96,972; no discrepancies. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 19 January 2026 - Reconciliation of share capital audit for quarter ended Dec 31, 2025; issued shares 96,96,972; no discrepancies.](https://nsearchives.nseindia.com/corporate/INFOLLION_19012026160757_SubmissionofReconciliationofShareCapitalAuditDec312025.pdf) |
| 19 January 2026 - Business update for April–December 2025 with comparatives for April–December 2024. | [General Updates 19 January 2026 - Business update for April–December 2025 with comparatives for April–December 2024.](https://nsearchives.nseindia.com/corporate/INFOLLION_19012026132341_Businessupdateforthe9monthperiodending30dec2025.pdf) |
| 13 January 2026 - No physical shares; no demat requests for quarter ended December 31, 2025. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 13 January 2026 - No physical shares; no demat requests for quarter ended December 31, 2025.](https://nsearchives.nseindia.com/corporate/INFOLLION_13012026125833_Confirmationcertificateunderreg74_5_ofDPReg13012026.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2025 | [Concall - Oct 2025](https://nsearchives.nseindia.com/corporate/INFOLLION_17102025223745_SubmissionoftranscriptofEarningsCall.pdf) |
| Oct 2024 | [Concall - Oct 2024](https://nsearchives.nseindia.com/corporate/INFOLLION_17102024172315_SubmissionoftranscriptofEarningsCall.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://nsearchives.nseindia.com/corporate/INFOLLION_15112023151249_TranscriptsoftheEarningsCall.pdf) |
| May 2024 | [Concall - May 2024](https://nsearchives.nseindia.com/corporate/INFOLLION_13052024181534_SubmissionofTranscriptofEarningsCallH2FY24IFY2413052024.pdf) |
| Mar 2025 | [Concall - Mar 2025](https://nsearchives.nseindia.com/corporate/INFOLLION_18032025120831_IntimationofInvestorPresentation18032025.pdf) |
| Apr 2025 | [Concall - Apr 2025](https://nsearchives.nseindia.com/corporate/INFOLLION_29042025121953_Submission_of_Transcript_of_Earnings_Call_for_H2-FY_2024-25.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28282_INFOLLION_2024_2025_A_5979249_03092025163223.pdf) |
| from nse | [Financial Year 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25064_INFOLLION_2023_2024_220820241247.pdf) |
| from nse | [Financial Year 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25044_INFOLLION_2022_2023_21082024172914.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/531391/5313910312.PDF) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/531391/5313910311.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/531391/5313910310.pdf) |

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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 2026-09-13T18:36:25.144Z.