MA
Muzali Arts
Commercial Services
539410 BSE
₹1.17
Close ·
- P/E
- 14.62
Close 4 Nov 2026 ₹1.17 −0.37 −24.0% since 14 Oct 2026
Start ₹1.54
Key Fundamentals
MicrocapCommercial ServicesServicesPrice-based figures at the close · EPS basis: Standalone · TTM
- ROCE
- 5.34%
- Debt to Equity
- 0.01
- EPS (TTM)
- ₹0.08
- Book Value
- ₹1.61
- Market Cap
- —
- P/E (TTM)
- 14.62
- P/B
- 0.73
- ROE
- 5.16%
- Dividend Yield
- 0.00%
- EBITDA
- −₹1.10 Cr
- 52W High
- ₹176.40
- 52W Low
- ₹1.10
Key Insights
Strengths
2- Company is almost debt free.
- Stock is trading at 0.61 times its book value
Weaknesses
3- Promoter holding is low: 32.8%
- Company has a low return on equity of -10.9% over last 3 years.
- Company has high debtors of 421 days.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Bearish | 3 | 15 | 1 |
| Oscillators | Neutral | 1 | 7 | 1 |
| Moving Averages | Bearish | 2 | 8 | 0 |
Oscillators
Neutral
Bearish
1
Neutral
7
Bullish
1
Overall
Bearish
Bearish
3
Neutral
15
Bullish
1
Moving Averages
Bearish
Bearish
2
Neutral
8
Bullish
0
Key readings
- RSI (14)
- 32.38
- Neutral
- MACD (12,26,9)
- —
- Neutral
- SMA (50)
- —
- Neutral
- SMA (200)
- —
- Neutral
As of
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
| 10Y | −26.43% |
|---|---|
| 5Y | Zero base |
| 3Y | −24.53% |
| 1Y | Zero base |
| TTM | Zero base |
Net profit
| 10Y | +31.95% |
|---|---|
| 5Y | Turned to profit |
| 3Y | Turned to profit |
| 1Y | Turned to profit |
| TTM | Tiny base |
Operating cash flow
| 10Y | Outflow widened by ₹0.33 Cr |
|---|---|
| 5Y | Outflow narrowed by ₹8.86 Cr |
| 3Y | Outflow narrowed by ₹2.94 Cr |
| 1Y | Turned negative |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | +19.37 pp |
|---|---|
| 5Y | No sales |
| 3Y | +119.57 pp |
| 1Y | No sales |
| TTM | No sales |
Revenue by year
| Mar 2017 | ₹11.73 Cr |
|---|---|
| Mar 2018 | ₹8.82 Cr |
| Mar 2019 | ₹15.89 Cr |
| Mar 2020 | ₹3.77 Cr |
| Mar 2021 | ₹0.00 Cr |
| Mar 2022 | ₹2.75 Cr |
| Mar 2023 | ₹1.07 Cr |
| Mar 2024 | ₹0.30 Cr |
| Mar 2025 | ₹0.00 Cr |
| Mar 2026 | ₹0.46 Cr |
Net profit by year
| Mar 2017 | ₹0.16 Cr |
|---|---|
| Mar 2018 | ₹0.79 Cr |
| Mar 2019 | ₹0.10 Cr |
| Mar 2020 | ₹0.41 Cr |
| Mar 2021 | −₹0.94 Cr |
| Mar 2022 | ₹0.25 Cr |
| Mar 2023 | −₹3.19 Cr |
| Mar 2024 | −₹1.07 Cr |
| Mar 2025 | −₹2.94 Cr |
| Mar 2026 | ₹0.48 Cr |
Quarterly Results
₹ Cr| 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 | 0 | 0.05 | 0.12 | 0.14 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.46 | 0 |
| Expenses | 0.26 | 0.24 | 0.06 | 1 | 3 | 0.04 | 0.02 | 0.22 | 0.03 | 0.07 | 0.03 | 0.23 | 0.08 |
| Operating Profit | −0.26 | −0.19 | 0.06 | −0.86 | −3 | −0.04 | −0.02 | −0.22 | −0.03 | −0.07 | −0.03 | 0.23 | −0.08 |
| OPM % | — | −380% | 50% | −614.29% | — | — | — | — | — | — | — | 50% | — |
| Other Income | 0.1 | 0.2 | 0.01 | 0.04 | 0.15 | 0.11 | 0.11 | 0.1 | 0.1 | 0.11 | 0.09 | 0.11 | 0.1 |
| 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 | −0.16 | 0.01 | 0.07 | −0.82 | −2.85 | 0.07 | 0.09 | −0.12 | 0.07 | 0.04 | 0.06 | 0.34 | 0.02 |
| Tax % | 0% | −400% | 0% | 0% | 1.4% | 42.86% | 33.33% | 25% | 42.86% | 0% | −183.33% | 29.41% | 150% |
| Net Profit | −0.17 | 0.05 | 0.06 | −0.82 | −2.89 | 0.04 | 0.06 | −0.15 | 0.05 | 0.03 | 0.16 | 0.24 | 0 |
| EPS (₹) | −0.03 | 0.01 | 0.01 | −0.14 | −0.49 | 0.01 | 0.01 | −0.03 | 0.01 | 0.01 | 0.03 | 0.04 | 0 |
Profit & Loss
₹ Cr| 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 | 0.1 | 9.9 | 11.73 | 8.82 | 15.89 | 3.77 | 0 | 2.75 | 1.07 | 0.3 | 0 | 0.46 | 0.46 |
| Expenses | 0.07 | 9.88 | 11.68 | 8 | 16.85 | 3.85 | 1.46 | 2.68 | 2.14 | 1.64 | 3.28 | 0.37 | 0.41 |
| Operating Profit | 0.03 | 0.02 | 0.05 | 0.82 | −0.96 | −0.08 | −1.46 | 0.07 | −1.07 | −1.34 | −3.28 | 0.09 | 0.05 |
| OPM % | 30% | 0.2% | 0.43% | 9.3% | −6.04% | −2.12% | — | 2.55% | −100% | −446.67% | — | 19.57% | 10.87% |
| Other Income | 0 | 0.04 | 0.19 | 0.34 | 1.34 | 0.82 | 0.61 | 0.37 | −2.08 | 0.31 | 0.46 | 0.41 | 0.41 |
| Interest | 0.01 | 0.02 | 0.02 | 0.06 | 0.24 | 0.17 | 0.08 | 0.13 | 0.11 | 0.03 | 0 | 0 | 0 |
| Depreciation | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 |
| PBT | 0.01 | 0.04 | 0.22 | 1.1 | 0.14 | 0.57 | −0.93 | 0.3 | −3.27 | −1.07 | −2.82 | 0.5 | 0.46 |
| Tax % | 100% | 25% | 27.27% | 27.27% | 28.57% | 26.32% | 0% | 16.67% | −2.45% | 0% | 4.26% | 4% | — |
| Net Profit | 0.01 | 0.03 | 0.16 | 0.79 | 0.1 | 0.41 | −0.94 | 0.25 | −3.19 | −1.07 | −2.94 | 0.48 | 0.43 |
| EPS (₹) | — | 0.01 | 0.08 | 0.39 | 0.05 | 0.2 | −0.19 | 0.05 | −0.54 | −0.18 | −0.5 | 0.08 | 0.08 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
₹ Cr| 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 | 2.03 | 2.03 | 2.03 | 2.03 | 2.03 | 2.03 | 4.87 | 5.08 | 5.92 | 5.92 | 5.92 | 5.92 |
| Reserves | 1.2 | 1.22 | 1.38 | 2.17 | 2.13 | 2.56 | 7.92 | 7.55 | 7.03 | 6.08 | 3.14 | 3.63 |
| Borrowings | 0 | 0.27 | 0.29 | 2.47 | 2.57 | 2.03 | 0.93 | 2.11 | 0.11 | 0.01 | 0.01 | 0.1 |
| Other Liabilities | 0.11 | 0.74 | 4.71 | 5.49 | 7.61 | 4.44 | 1.02 | 1.58 | 1.23 | 0.23 | 0.35 | 0.31 |
| Total Liabilities | 3.34 | 4.26 | 8.41 | 12.16 | 14.34 | 11.06 | 14.74 | 16.32 | 14.29 | 12.24 | 9.42 | 9.96 |
| Fixed Assets | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.03 | 0.03 | 0.02 | 0.02 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.08 | 0.08 | 0.08 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0.41 | 1.74 | 4.76 | 2.85 | 2.51 | 0 | 0 |
| Other Assets | 3.32 | 4.25 | 8.4 | 12.15 | 14.33 | 10.64 | 12.96 | 11.45 | 11.34 | 9.63 | 9.42 | 9.96 |
| Total Assets | 3.34 | 4.26 | 8.41 | 12.16 | 14.34 | 11.06 | 14.74 | 16.32 | 14.29 | 12.24 | 9.42 | 9.96 |
Cash Flow
₹ Cr| 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 | −0.07 | 4.9 | −0.7 | 3.34 | −3.76 | −9.26 | −1.11 | −3.34 | −0.7 | 1.23 | −0.4 |
| Investing | −0.01 | 0 | −4.89 | −0.69 | −3.76 | 4.3 | 3.36 | −1.46 | 2.37 | 0.37 | −1.4 | 0.45 |
| Financing | 0 | −0.01 | 0.02 | 2.12 | −0.14 | −0.71 | 8.02 | 0.65 | 1.4 | 0.07 | 0 | 0.09 |
| Net Cash Flow | −0.01 | −0.08 | 0.03 | 0.73 | −0.56 | −0.18 | 2.12 | −1.91 | 0.43 | −0.26 | −0.17 | 0.14 |
| Free Cash Flow | −0.01 | −0.07 | 4.9 | −0.7 | 3.34 | −3.76 | −9.31 | −1.18 | −3.35 | −0.7 | 1.23 | −0.4 |
| CFO/OP | 0 | −350 | 9,940 | −51 | −365 | 4,650 | 625 | −1,514 | 320 | 52 | −38 | −456 |
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 | 511 | 34.66 | 5.29 | 97.25 | 0 | 8.71 | — | 230 | 577 | 2,239 | — | 421 |
| Inventory Days | 0 | 7.22 | 6.01 | 0 | 0 | 23.61 | — | 321 | 545 | 0 | — | — |
| Days Payable | — | 23.19 | 146 | — | — | 411 | — | 98.39 | 143 | — | — | — |
| Cash Conversion Cycle | 511 | 18.69 | −135 | 97.25 | 0 | −379 | — | 452 | 979 | 2,239 | — | 421 |
| Working Capital Days | 110 | 14.75 | 114 | 244 | 134 | 598 | — | 1,281 | 3,224 | 10,889 | — | 7,356 |
| ROCE % | 0.62% | 1.78% | 6.65% | 22.37% | 5.67% | 11.09% | −8.36% | 3.09% | −5.11% | −8.3% | −26.76% | 5.34% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Muzali Arts insights
59 extracted metrics across FY14–FY27.
Documents
- 14 Nov 2025
- General announcements 9 Oct 2026
Frequently Asked Questions about Muzali Arts
What does Muzali Arts Ltd do?
Incorporated in 1995, Muzali Arts Ltd (formerly Welcon International Ltd) is engaged in manufacturing of furniture and trading of Antique items
Where is Muzali Arts Ltd (MUZALI) listed?
Muzali Arts Ltd trades under code 539410 on the BSE.
Which sector does Muzali Arts Ltd belong to?
Muzali Arts Ltd is classified under the Commercial Services sector, in the Trading & Distributors industry.
What is the PE ratio of Muzali Arts Ltd?
Muzali Arts Ltd trades at a PE ratio of 14.62 as of 4 Nov 2026, on earnings per share of ₹0.08, against a book value of ₹1.61 per share.
What is the 52-week high and low of Muzali Arts Ltd?
Over the last 52 weeks Muzali Arts Ltd has traded between ₹1.1 and ₹176.4 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Muzali Arts Ltd?
Muzali Arts Ltd reported a return on equity of 5.16%. Its debt-to-equity ratio is 0.01.
Company Information
Incorporated in 1995, Muzali Arts Ltd (formerly Welcon International Ltd) is engaged in manufacturing of furniture and trading of Antique items
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