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Pipan Oils

538537 BSE
₹184.25

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P/E
Not meaningful: loss-making over the last twelve months
View as Markdown
MCP
Close 26 Oct 2026 ₹184.25 +24.65 +15.4% since 6 Nov 2025
Start ₹159.60

Key Fundamentals

MicrocapCommercial ServicesServices

Price-based figures at the close · EPS basis: Standalone · TTM

ROCE
−38.60%
Debt to Equity
4.45
EPS (TTM)
−₹1.55
Book Value
₹0.11
Market Cap
—
P/E (TTM)
Not meaningful: loss-making over the last twelve months
P/B
1675.00
ROE
—
Dividend Yield
0.00%
EBITDA
−₹90.00 L
52W High
₹185.15
52W Low
₹159.60

Key Insights

Strengths

1
  • Company has reduced debt.

Weaknesses

3
  • Stock is trading at 1,615 times its book value
  • Company has low interest coverage ratio.
  • Company might be capitalizing the interest cost

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish6112
OscillatorsStrong Bearish513
Moving AveragesStrong Bullish109

Key readings

RSI (14)
81.35
Bearish
MACD (12,26,9)
3.92
Bearish
SMA (50)
174.00
Bullish
SMA (200)
89.57
Bullish

As of , the latest day with price data, so these readings are not current.

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y−100.00%
5Y−100.00%
3Y−100.00%
1YZero base
TTMZero base

Net profit

Net profit growth by window
10YTurned to loss
5YLoss widened by ₹2.05 Cr
3YLoss narrowed by ₹2.34 Cr
1YLoss widened by ₹1.88 Cr
TTMLoss widened by ₹2.55 Cr

Operating cash flow

Operating cash flow growth by window
10YOutflow widened by ₹0.44 Cr
5YTurned negative
3YOutflow narrowed by ₹9.67 Cr
1YTurned negative
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10YNo sales
5YNo sales
3YNo sales
1YNo sales
TTMNo sales

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1.74 Cr
Mar 2018₹2.03 Cr
Mar 2019₹1.92 Cr
Mar 2020₹0.00 Cr
Mar 2021₹2.14 Cr
Mar 2022₹3.60 Cr
Mar 2023₹0.59 Cr
Mar 2024₹0.01 Cr
Mar 2025₹0.00 Cr
Mar 2026₹0.00 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹0.02 Cr
Mar 2018₹0.01 Cr
Mar 2019₹0.01 Cr
Mar 2020−₹0.01 Cr
Mar 2021−₹0.02 Cr
Mar 2022−₹0.28 Cr
Mar 2023−₹4.41 Cr
Mar 2024−₹0.33 Cr
Mar 2025−₹0.19 Cr
Mar 2026−₹2.07 Cr

Quarterly Results

₹ Cr
538537 quarterly results, ₹ crore
Particulars Mar 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
0
0
0
0.01
0
0
0
0
0
0
0
0
0
Expenses
0.18
0.05
0.01
0.22
0.01
0.1
0.04
0.05
0
0.11
0.06
0.69
0.67
Operating Profit
−0.18
−0.05
−0.01
−0.21
−0.01
−0.1
−0.04
−0.05
0
−0.11
−0.06
−0.69
−0.67
Other Income
−4.08
0
0
0
0
0
0
0.12
0
0
0
−1.21
0
Interest
0
0
0
0
0
0
0
0.12
0
0
0
0
0
Depreciation
0
0
0
0
0
0
0
0
0
0
0
0
0
PBT
−4.26
−0.05
−0.01
−0.21
−0.01
−0.1
−0.04
−0.05
0
−0.11
−0.06
−1.9
−0.67
Tax %
0%
0%
0%
0%
0%
0%
0%
0%
—
0%
0%
0%
0%
Net Profit
−4.26
−0.05
−0.01
−0.21
−0.01
−0.1
−0.04
−0.05
0
−0.11
−0.06
−1.9
−0.67
EPS (₹)
−2.4
−0.03
−0.01
−0.12
−0.02
−0.2
−0.08
−0.1
0
−0.06
−0.03
−1.08
−0.38

Profit & Loss

₹ Cr
538537 profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2.09
2.14
1.74
2.03
1.92
0
2.14
3.6
0.59
0.01
0
0
0
Expenses
2.16
2.25
1.69
2.02
1.92
0.01
5.18
3.9
0.83
0.32
0.19
0.86
1.53
Operating Profit
−0.07
−0.11
0.05
0.01
0
−0.01
−3.04
−0.3
−0.24
−0.31
−0.19
−0.86
−1.53
OPM %
−3.35%
−5.14%
2.87%
0.49%
0%
—
−142.06%
−8.33%
−40.68%
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
—
—
—
Other Income
0.14
0.17
0
0.01
0.01
0
3.1
0.06
−4.08
0
0.12
−1.21
−1.21
Interest
0
0
0
0
0
0
0.08
0
0.08
0.02
0.12
0
0
Depreciation
0.04
0.02
0.02
0
0
0
0
0.03
0.01
0
0
0
0
PBT
0.03
0.04
0.03
0.02
0.01
−0.01
−0.02
−0.27
−4.41
−0.33
−0.19
−2.07
−2.74
Tax %
33.33%
100%
33.33%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Net Profit
0.02
0
0.02
0.01
0.01
−0.01
−0.02
−0.28
−4.41
−0.33
−0.19
−2.07
−2.74
EPS (₹)
0.01
0
0.01
0.01
0.01
−0.01
−0.01
−0.16
−2.48
−0.19
−0.38
−1.18
−1.55
Div. Payout %
0%
—
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
538537 balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
3.55
3.55
3.55
3.55
3.55
3.55
3.55
3.55
3.55
0.11
1.01
3.51
Reserves
0.07
0.07
0.09
0.1
0.12
0.11
0.09
−0.19
−4.6
−1.1
−1.29
−3.31
Borrowings
0
0
0
0
0
0
0.26
6.29
2.9
4.27
3.64
0.89
Other Liabilities
2.33
2.42
2.67
2.14
2.18
2.18
6.35
11.11
0.28
0.06
0.17
0.05
Total Liabilities
5.95
6.04
6.31
5.79
5.85
5.84
10.25
20.76
2.13
3.34
3.53
1.14
Fixed Assets
0.01
0
0
0.01
0
0
0.03
0.22
0.01
0
0
0
CWIP
0
0
0
0
0
0
0
0
0
0
0
0
Investments
0.8
0.8
0.8
0.8
0.8
0.8
1
4.91
0.8
0.8
0.8
0.17
Other Assets
5.14
5.24
5.51
4.98
5.05
5.04
9.22
15.63
1.32
2.54
2.73
0.97
Total Assets
5.95
6.04
6.31
5.79
5.85
5.84
10.25
20.76
2.13
3.34
3.53
1.14

Cash Flow

₹ Cr
538537 cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
0.19
−0.28
0.24
0.24
0.12
−0.16
4.13
3.31
−10.39
−2.44
0.8
−0.72
Investing
0
0
0
0
−0.19
0.02
−0.22
−4.15
13.85
0.01
0
0
Financing
0
0
0
0
−0.09
0
−3.87
0.71
−3.47
2.48
−0.85
0.87
Net Cash Flow
0.19
−0.28
0.24
0.24
−0.17
−0.14
0.04
−0.13
0
0.05
−0.05
0.16
Free Cash Flow
0.19
−0.28
0.24
0.24
0.12
−0.16
4.1
3.08
−10.18
−2.43
0.8
−0.72
CFO/OP
−343
245
500
2,500
—
1,600
−136
−1,103
4,329
787
−421
84

Ratios

538537 financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
690
670
904
705
745
—
536
138
74.24
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
—
—
Inventory Days
0
0
0
0
0
—
39.79
31.21
0
0
—
—
Days Payable
—
—
—
—
—
—
1,053
684
—
—
—
—
Cash Conversion Cycle
690
670
904
705
745
—
−478
−515
74.24
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
—
—
Working Capital Days
293
266
350
322
331
—
−413
−604
−74.24
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
—
—
ROCE %
0.83%
1.1%
0.83%
0.55%
0.27%
−0.27%
1.59%
−4.58%
−4.35%
−12.09%
−2.11%
−38.65%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Pipan Oils insights

59 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 72.03%
  • Public 25.10%
  • Others 2.87%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Pipan Oils

What does Pipan Oils Ltd do?
Pipan Oils Ltd is transitioning from discontinued trading activities towards upstream oil-and-gas operations. Commercial operations had not commenced as of Q1FY27.
Where is Pipan Oils Ltd (PIPAN) listed?
Pipan Oils Ltd trades under code 538537 on the BSE.
Which sector does Pipan Oils Ltd belong to?
Pipan Oils Ltd is classified under the Commercial Services sector, in the Trading & Distributors industry.
What is the 52-week high and low of Pipan Oils Ltd?
Over the last 52 weeks Pipan Oils Ltd has traded between ₹159.6 and ₹185.15 as of 26 Oct 2026.

Company Information

Pipan Oils Ltd is transitioning from discontinued trading activities towards upstream oil-and-gas operations. Commercial operations had not commenced as of Q1FY27.

Website omanshenterprises.in
Listed 11 Jul 2014
Face Value ₹2

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