Paul Merchants
PML NSE
Paul Merchants
Financial ServicesNSE: PML BSE: 539113 Other Financial Services
Key Fundamentals
MicrocapOther Financial ServicesFinancial ServicesMarket Cap
₹149 Cr
Volatility
Moderate
P/E Ratio
-15.3
EBITDA
₹25.30 Cr
Return on Equity
1.01%
Debt to Equity
0.01
Book Value
₹2,909.44
52W High
₹645
52W Low
₹451.55
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.17 times its book value
Weaknesses
5- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -7.05% over past five years.
- Company has a low return on equity of -20.0% over last 3 years.
- Contingent liabilities of Rs.52.2 Cr.
- Earnings include an other income of Rs.17.0 Cr.
Growth Rate
Revenue Growth
-36.65% lower than
3Y
Net Income Growth
-174% higher than
3Y
Cash Flow Change
-8% lower than
3Y
ROE
-152% lower than
3Y
ROCE
-471% lower than
3Y
EBITDA Margin (Avg.)
—
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,836 | 1,839 | 2,090 | 854 | 1,016 | 986 | 750 | 582 | 493 | 593 | 505 | 482 | 481 |
| Expenses | 1,809 | 1,810 | 2,058 | 860 | 1,016 | 988 | 753 | 585 | 497 | 601 | 508 | 483 | 476 |
| Operating Profit | 27.35 | 29.36 | 32.77 | -5.66 | -0.47 | -1.22 | -2.65 | -2.97 | -4.16 | -7.74 | -3.16 | -0.42 | 4.46 |
| OPM % | 1.49% | 1.6% | 1.57% | -0.66% | -0.05% | -0.12% | -0.35% | -0.51% | -0.84% | -1.3% | -0.63% | -0.09% | 0.93% |
| Other Income | 1.04 | 1.53 | 3.03 | 17.05 | 15.66 | 19.6 | 21.82 | 21.07 | 294 | 7.38 | -6.92 | 6.18 | 10.39 |
| Interest | 8.73 | 10.15 | 11.48 | 0.69 | 0.28 | 0.66 | 0.49 | 0.53 | 0.53 | 0.24 | 0.16 | 0.16 | 0.17 |
| Depreciation | 1.2 | 1.35 | 1.65 | 1.56 | 0.73 | 1.05 | 0.96 | 1.07 | 0.83 | 1.42 | 1.61 | 1.61 | 1.26 |
| PBT | 18.46 | 19.39 | 22.67 | 9.14 | 14.18 | 16.67 | 17.72 | 16.5 | 288 | -2.02 | -11.85 | 3.99 | 13.42 |
| Tax % | 25.95% | 25.06% | 24.61% | -2.08% | 6.14% | 3.42% | -0.06% | -1.15% | 0.29% | 227.72% | 21.43% | 41.6% | 33.68% |
| Net Profit | 13.67 | 14.53 | 17.09 | 9.34 | 13.32 | 16.1 | 17.72 | 16.69 | 287 | -6.61 | -14.4 | 2.29 | 8.91 |
| EPS in Rs | 44.1 | 46.87 | 55.42 | 30.29 | 43.19 | 52.2 | 57.46 | 54.12 | 932 | -21.43 | -46.69 | 7.43 | 28.89 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,165 | 2,466 | 2,891 | 4,553 | 4,928 | 5,405 | 3,041 | 5,367 | 7,012 | 6,506 | 3,336 | 2,110 | 2,061 |
| Expenses | 2,138 | 2,433 | 2,881 | 4,529 | 4,901 | 5,363 | 2,991 | 5,300 | 6,929 | 6,497 | 3,343 | 2,089 | 2,068 |
| Operating Profit | 27 | 32 | 10 | 25 | 27 | 42 | 51 | 68 | 83 | 9 | -7 | 21 | -7 |
| OPM % | 1.3% | 1.3% | 0.3% | 0.5% | 0.5% | 0.8% | 1.7% | 1.3% | 1.2% | 0.1% | -0.2% | 1% | -0.3% |
| Other Income | 3 | 5 | 11 | 201 | 2 | 0 | 1 | 1 | 1 | 59 | 78 | 264 | 17 |
| Interest | 4 | 3 | 2 | 2 | 1 | 2 | 5 | 11 | 20 | 2 | 2 | 1 | 1 |
| Depreciation | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 3 | 4 | 3 | 4 | 5 | 6 |
| PBT | 24 | 31 | 16 | 220 | 24 | 36 | 44 | 54 | 60 | 62 | 65 | 278 | 4 |
| Tax % | 35% | 35% | 23% | 3% | 8% | 26% | 23% | 26% | 26% | 12% | 2% | 3% | — |
| Net Profit | 15 | 20 | 13 | 214 | 22 | 26 | 33 | 40 | 44 | 55 | 64 | 269 | -10 |
| EPS in Rs | 49.29 | 65.71 | 41.35 | 689 | 71.23 | 85.06 | 108 | 130 | 142 | 177 | 207 | 871 | -31.8 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 1% | 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 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 3 |
| Reserves | 117 | 138 | 148 | 363 | 366 | 392 | 426 | 466 | 510 | 562 | 626 | 894 |
| Borrowings | 21 | 24 | 18 | 22 | 17 | 33 | 80 | 132 | 307 | 493 | 24 | 10 |
| Other Liabilities | 59 | 56 | 60 | 87 | 21 | 29 | 29 | 51 | 72 | 98 | 935 | 32 |
| Total Liabilities | 198 | 218 | 228 | 473 | 405 | 455 | 535 | 649 | 890 | 1,156 | 1,587 | 940 |
| Fixed Assets | 44 | 54 | 50 | 76 | 76 | 64 | 63 | 63 | 67 | 72 | 62 | 135 |
| CWIP | 2 | 1 | 1 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0 |
| Investments | 0 | 5 | 9 | 123 | 99 | 55 | 37 | 30 | 24 | 22 | 2 | 306 |
| Other Assets | 152 | 158 | 167 | 274 | 231 | 336 | 434 | 555 | 799 | 1,063 | 1,523 | 499 |
| Total Assets | 198 | 218 | 228 | 473 | 405 | 455 | 535 | 649 | 890 | 1,156 | 1,587 | 940 |
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 | 108 | 21 | 18 | -276 | 13 | -83 | -69 | -38 | -154 | -135 | 448 | 412 |
| Investing | -22 | -16 | 1 | 241 | -25 | 73 | 23 | 6 | 0 | -5 | 17 | -387 |
| Financing | -76 | -2 | -5 | 2 | -6 | 13 | 42 | 41 | 155 | 143 | -471 | -14 |
| Net Cash Flow | 11 | 2 | 14 | -34 | -18 | 4 | -4 | 9 | 2 | 3 | -6 | 11 |
| Free Cash Flow | 85 | 8 | 15 | -41 | 10 | -76 | -71 | -41 | -162 | -146 | 444 | 403 |
| CFO/OP | 429 | 99 | 393 | -857 | 66 | -178 | -115 | -36 | -167 | -1,273 | -6,754 | 2,196 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 8 | 6 | 4 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Inventory Days | 1 | 1 | 1 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 4 |
| Days Payable | 7 | 5 | 3 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Cash Conversion Cycle | 2 | 2 | 2 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 5 |
| Working Capital Days | 1 | 1 | -1 | 3 | 12 | 20 | 47 | 33 | 36 | 52 | 1 | 33 |
| ROCE % | — | 23% | 11% | 80% | 6% | 10% | 10% | 12% | 11% | -5% | -10% | -31% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Paul Merchants insights
43 extracted metrics + investor summaries across FY15–FY26.
Documents
2
Audited Standalone And Consolidated Financial Results For The Quarter And Year Ended 31.03.2026. 27 May 2026
3
Audited Standalone And Consolidated Financial Results For The Quarter And Year Ended 31.03.2025. 26 May 2025
1
Clarification On Price Movement
28 Apr - Company clarifies price movement, cites prior disclosures, and says March 2026 audited results will follow. 28 Apr - Company clarifies price movement, cites prior disclosures, and says March 2026 audited results will follow.
2
Clarification On Price Movement
28 Apr - Company clarifies price movement, cites prior disclosures, and says March 2026 audited results will follow. 28 Apr - Company clarifies price movement, cites prior disclosures, and says March 2026 audited results will follow.
3
Clarification sought from Paul Merchants Ltd
24 Apr - Exchange has sought clarification from Paul Merchants Ltd on April 24, 2026 with reference to significant movement in price, in order to ensure that investors … 24 Apr - Exchange has sought clarification from Paul Merchants Ltd on April 24, 2026 with reference to significant movement in price, in order to ensure that investors …
4
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
20 Apr - Paul Merchants confirms it is not a Large Corporate as of March 31, 2026. 20 Apr - Paul Merchants confirms it is not a Large Corporate as of March 31, 2026.
5
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
9h - Paul Merchants confirms it is not a Large Corporate as of March 31, 2026. 9h - Paul Merchants confirms it is not a Large Corporate as of March 31, 2026.
Frequently Asked Questions about Paul Merchants
What does Paul Merchants Ltd do?
Paul Merchants Ltd is a Chandigarh-operated financial-services group active since 1984. The parent is an RBI-authorised AD Category-II foreign-exchange and cross-border-payments intermediary offering travel and money-transfer services, while subsidiaries house lending, real estate and IT operatio...
Where is Paul Merchants Ltd (539113) listed?
Paul Merchants Ltd trades as PML on the NSE and under code 539113 on the BSE.
Which sector does Paul Merchants Ltd belong to?
Paul Merchants Ltd is classified under the Financial Services sector, in the Other Financial Services industry.
What is the market capitalisation of Paul Merchants Ltd?
Paul Merchants Ltd has a market capitalisation of ₹148.65 Cr, which places it in the Small Cap band.
What is the PE ratio of Paul Merchants Ltd?
Paul Merchants Ltd trades at a PE ratio of -15.30, against a book value of ₹2,909.44 per share.
What is the 52-week high and low of Paul Merchants Ltd?
Over the last 52 weeks Paul Merchants Ltd has traded between ₹451.55 and ₹645.
What is the Return on Equity (ROE) of Paul Merchants Ltd?
Paul Merchants Ltd reported a return on equity of 1.01%. Its debt-to-equity ratio is 0.01.
Company Information
Paul Merchants Ltd is a Chandigarh-operated financial-services group active since 1984. The parent is an RBI-authorised AD Category-II foreign-exchange and cross-border-payments intermediary offering travel and money-transfer services, while subsidiaries house lending, real estate and IT operations. Its shares are listed on BSE and permitted to trade on NSE under PML. [1] [2]
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