---
title: "Starlit Power Systems Ltd(Merged) (538733) — Share Price, Financials & Analysis"
symbol: "538733"
company: "Starlit Power Systems Ltd(Merged)"
canonical: "https://tapetide.com/stocks/538733"
isin: "INE909P01012"
bse_code: "538733"
sector: "Consumer Discretionary"
industry: "Auto Components"
generated_at: "2026-09-13T18:37:04.159Z"
---

# Starlit Power Systems Ltd(Merged) (538733)

Canonical page: https://tapetide.com/stocks/538733

## Company

- **BSE Code:** 538733
- **ISIN:** INE909P01012
- **Sector:** Consumer Discretionary
- **Industry:** Auto Components
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** DELISTED
- **Listed Since:** 2014-10-22
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** starlitpower.com

## About

Incorporated in 2008, Starlit Power Systems Ltd manufactures batteries for power storage

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.
- Stock is trading at 0.00 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -48.4% over past five years.
- Promoter holding is low: 20.6%
- Company has high debtors of 4,041 days.
- Promoter holding has decreased over last 3 years: -8.73%
- Working capital days have increased from 5,532 days to 12,697 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -785% | 20% | 10% |
| revenue growth | -100% | -63% | -48% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 13 |
| Operating Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -13 |
| OPM % | -37 | — | — | — | 80 | — | -81 | — | — | — | — | — |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 1 | 1 | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -1 | -1 | -1 | -1 | 0 | -1 | 0 | 0 | 0 | 0 | 0 | -13 |
| Tax % | 1116 | 0 | 0 | 0 | 29 | -5 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -11 | -1 | -1 | -1 | 0 | -1 | 0 | 0 | 0 | 0 | 0 | -13 |
| EPS in Rs | -10.96 | -0.78 | -0.87 | -1.12 | 0.04 | -1.26 | -0.3 | -0.04 | -0.17 | -0.15 | -0.11 | -13.29 |

### Profit & Loss

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 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 7 | 7 | 13 | 12 | 18 | 8 | 1 | 0 | 0 | 0 |
| Expenses | 10 | 9 | 16 | 13 | 22 | 9 | 1 | 0 | 1 | 14 |
| Operating Profit | -3 | -2 | -3 | -2 | -4 | 0 | 0 | 0 | -1 | -14 |
| OPM % | -40 | -24 | -23 | -17 | -22 | -3 | -82 | — | -162 | — |
| Other Income | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 3 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| Profit before tax | -6 | -4 | -5 | -4 | -6 | -3 | -3 | -4 | -1 | -14 |
| Tax % | -38 | 45 | -21 | -60 | -26 | -23 | 320 | 0 | 0 | — |
| Net Profit | -4 | -6 | -4 | -2 | -5 | -2 | -14 | -4 | -1 | -14 |
| EPS in Rs | -3.82 | -6.42 | -3.99 | -1.68 | -4.75 | -2.31 | -13.47 | -3.76 | -0.65 | -13.72 |
| 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 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 20 | 20 |
| Reserves | -6 | -13 | -16 | -18 | -23 | -25 | -39 | 939 | 948 | 948 |
| Borrowings | 25 | 31 | 32 | 34 | 40 | 41 | 43 | 0 | 1 | 4 |
| Other Liabilities | 8 | 5 | 8 | 8 | 8 | 7 | 7 | 0 | 0 | 0 |
| Total Liabilities | 37 | 34 | 34 | 35 | 35 | 33 | 21 | 950 | 970 | 972 |
| Fixed Assets | 16 | 14 | 13 | 12 | 11 | 10 | 9 | 0 | 8 | 8 |
| CWIP | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 0 | 9 | 11 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 941 | 937 | 937 |
| Other Assets | 15 | 14 | 15 | 17 | 18 | 17 | 6 | 9 | 16 | 16 |
| Total Assets | 37 | 34 | 34 | 35 | 35 | 33 | 21 | 950 | 970 | 972 |

### Cash Flow

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

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -3 | 2 | -4 | 1 | -1 | -3 | 1 | 0 | 3 | -7 |
| Cash from Investing Activity | -1 | -2 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | -13 |
| Cash from Financing Activity | 4 | 0 | 4 | -1 | 1 | 4 | -1 | 0 | -2 | 21 |
| Net Cash Flow | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 |
| Free Cash Flow | -8 | 0 | -4 | 1 | -1 | -4 | 1 | 0 | 3 | -24 |
| CFO/OP | 91 | -80 | 222 | -35 | 43 | 86 | -410 | -58 | -690 | 1009 |

### Ratios

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 74 | 233 | 268 | 147 | 101 | 132 | 225 | 3146 | — | 4041 |
| Inventory Days | 86 | 117 | 224 | 112 | 202 | 43 | 48 | 149 | — | 7506 |
| Days Payable | 109 | 363 | 275 | 219 | 286 | 139 | 273 | 3090 | — | 56 |
| Cash Conversion Cycle | 50 | -14 | 217 | 41 | 17 | 37 | -1 | 205 | — | 11491 |
| Working Capital Days | -135 | -778 | 102 | -17 | -34 | -27 | -100 | -1633 | — | 12697 |
| ROCE % | -16 | -13 | -6 | -10 | -11 | -17 | -3 | -5 | 0 | 0 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Dec 2024 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 29.63% | 30.03% | 29.07% | 29.12% | 29.32% | 29.37% | 29.37% | 29.37% | 0.4% | 20.64% |
| DIIs | 0.3% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 70.07% | 69.97% | 70.93% | 70.88% | 70.68% | 70.63% | 70.63% | 70.64% | 99.6% | 79.37% |
| No. of Shareholders | 119 | 253 | 317 | 326 | 714 | 2246 | 2650 | 3373 | 5766 | 5795 |

### Quarterly

| Category | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 29.37% | 29.37% | 29.37% | 29.37% | 29.37% | 29.37% | 28.08% | 15.65% | 0.4% | 20.64% | 20.64% | 20.64% |
| Public | 70.63% | 70.63% | 70.63% | 70.63% | 70.64% | 70.64% | 71.92% | 84.35% | 99.6% | 79.37% | 79.37% | 79.37% |
| No. of Shareholders | 2707 | 2650 | 2650 | 3217 | 3242 | 3373 | 3988 | 4972 | 5766 | 5871 | 5795 | 5795 |

## Technical Indicators

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

- **Overall Signal:** Neutral
- **Buy / Neutral / Sell:** 9 / 1 / 9

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 2.95 | Buy |
| EMA (10) | 3.06 | Buy |
| SMA (20) | 2.63 | Buy |
| EMA (20) | 2.88 | Buy |
| SMA (50) | 3.03 | Buy |
| EMA (50) | 3.13 | Buy |
| SMA (100) | 3.94 | Sell |
| EMA (100) | 3.67 | Sell |
| SMA (200) | 4.48 | Sell |
| EMA (200) | 4.45 | Sell |

### Oscillators — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 72.96 | Sell |
| MACD (12,26,9) | 0.11 | Buy |
| Stochastic (14,3,3) | 100 | Sell |
| ADX (14) | 33.98 | Buy |
| Williams %R (14) | 0 | Sell |
| ATR (14) | 0.17 | High Volatility |
| ROC (12) | 45.34 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 90.31 | Sell |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 4 Feb - Submission of Extract of Newspaper Publication of Unaudited (standalone and Consolidated) Financial Results for the Quarter ended 31st December 2025 | [Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Feb - Submission of Extract of Newspaper Publication of Unaudited (standalone and Consolidated) Financial Results for the Quarter ended 31st December 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/754ad753-5b0c-4f2c-bae6-b8ac4891c2b8.pdf) |
| 3 Feb - Regulation 32 non-applicable for quarter ended 31 Dec 2025; no public/right/preferential issue. | [Undertaking For Non- Applicability Of Regulation 32 Of SEBI (LODR) Regulations, 2015 For The Quarter Ended On 31St December, 2025 3 Feb - Regulation 32 non-applicable for quarter ended 31 Dec 2025; no public/right/preferential issue.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a984a5d1-550d-4ecc-8de4-ef6c881ab60b.pdf) |
| 3 Feb - Mrs. Babita Jain appointed Additional & Executive Director effective 03-Feb-2026 (DIN:00560562). | [Announcement under Regulation 30 (LODR)-Change in Management 3 Feb - Mrs. Babita Jain appointed Additional & Executive Director effective 03-Feb-2026 (DIN:00560562).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/98c90fc3-35f4-4ca9-b0f5-5213da991f41.pdf) |
| 3 Feb - Approved unaudited standalone/consolidated results for quarter ended 31-Dec-2025; appointed Babita Jain as Executive Director effective 03-Feb-2026. | [Board Meeting Outcome for Outcome Of Board Meeting Held On Tuesday, 03Rd February, 2026 As Per Regulation 30 Of SEBI (LODR) Regulations, 2015. 3 Feb - Approved unaudited standalone/consolidated results for quarter ended 31-Dec-2025; appointed Babita Jain as Executive Director effective 03-Feb-2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/224f9a4f-c870-4d87-afe4-6efbbe51d73d.pdf) |
| 26 Feb - Thirty Fourth Committee of Creditors meeting held 16 February 2026 at 3:00 PM under CIRP. | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors 26 Feb - Thirty Fourth Committee of Creditors meeting held 16 February 2026 at 3:00 PM under CIRP.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/89e456d4-93a4-4028-a4bd-1927f2cc1fad.pdf) |
| 24 Sep 2025 - 29th Committee of Creditors meeting held 22 Sept 2025 at 5:30 PM for Morarjee Textiles. | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors 24 Sep 2025 - 29th Committee of Creditors meeting held 22 Sept 2025 at 5:30 PM for Morarjee Textiles.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a35ebb94-aba2-40a3-837c-b901956926b7.pdf) |
| 23 Mar - Trading window closed from 1 April 2026 until 48 hours after audited results for quarter/year ended 31 March 2026. | [Closure of Trading Window 23 Mar - Trading window closed from 1 April 2026 until 48 hours after audited results for quarter/year ended 31 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0aed2a6d-c068-4b0e-98ed-897b853bc4e7.pdf) |
| 19 Dec 2025 - COC 32nd meeting held 18 December 2025 at 11:00 AM for Morarjee Textiles. | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors 19 Dec 2025 - COC 32nd meeting held 18 December 2025 at 11:00 AM for Morarjee Textiles.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c723fc8f-dae6-44e7-9d65-b9ef1b9240a4.pdf) |
| 19 Dec 2025 - 31st Committee of Creditors meeting held 16 Oct 2025 at 12:30pm for Morarjee Textiles under CIRP. | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors 19 Dec 2025 - 31st Committee of Creditors meeting held 16 Oct 2025 at 12:30pm for Morarjee Textiles under CIRP.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/39d37088-7ac2-4146-ba6c-dcd92354274b.pdf) |
| 16h - Morarjee Textiles: Notice of 35th Committee of Creditors meeting on 10 March 2026 at 3:00 PM. | [Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors 16h - Morarjee Textiles: Notice of 35th Committee of Creditors meeting on 10 March 2026 at 3:00 PM.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/c5cbed2a-05e3-489c-8f3d-d455ff425e5a.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2011 from nse](https://archives.nseindia.com/annual_reports/AR_MORARJETEX_2010_2011_21072011072526.zip) |
| from nse | [Financial Year 2010 from nse](https://archives.nseindia.com/annual_reports/AR_MORARJETEX_2009_2010_13042011121212.zip) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/889d4b44-569e-4e97-9e0b-9f626e628456.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5e2f43c3-9732-416e-892c-eb307f75e7ea.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/532621/74040532621.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/538733/75933538733.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/532621/68785532621.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/538733/71230538733.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/532621/65730532621.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/538733/66005538733.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 2026-09-13T18:37:04.159Z.