---
title: "Salem Erode Investments Ltd (540181) — Share Price, Financials & Analysis"
symbol: "540181"
company: "Salem Erode Investments Ltd"
canonical: "https://tapetide.com/stocks/540181"
isin: "INE894E01028"
nse_symbol: "SALEMERODEINVESTMENTSLTD"
bse_code: "540181"
sector: "Financial Services"
industry: "NBFC"
market_cap_cr: 58.51
generated_at: "2026-09-13T18:27:50.533Z"
---

# Salem Erode Investments Ltd (540181)

Canonical page: https://tapetide.com/stocks/540181

## Company

- **NSE Symbol:** SALEMERODEINVESTMENTSLTD
- **BSE Code:** 540181
- **ISIN:** INE894E01028
- **Sector:** Financial Services
- **Industry:** NBFC
- **Macro Sector:** Financial Services
- **Stock Type:** EQUITY
- **Listed Since:** 2016-11-17
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** salemerode.com

## About

Incorporated in 1931, Salem Erode Investments Ltd is an NBFC specializing in gold loan
financing.[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:37:00.232325Z.

- **Market Cap:** ₹58.51 Cr
- **Classification:** Microcap
- **P/E (reported):** -11.3
- **EPS (TTM):** ₹-2.25
- **EPS (reported):** ₹0
- **Book Value:** ₹16.34
- **Price to Book:** 1.56
- **Dividend Yield:** 0%
- **ROE:** 4.89%
- **ROCE:** 6.25%
- **Debt to Equity:** 0
- **Revenue (yearly):** ₹1.4 Cr
- **Net Income:** ₹0.8 Cr
- **EBITDA:** ₹1.1 Cr
- **52-Week High:** ₹36.29
- **52-Week Low:** ₹22.63
- **RSI (14):** 42.53

## Tapetide Score

- **Score:** 31 / 100
- **Score date:** 2026-09-04
- **Archetype:** Weak and Under Pressure
- **What it means:** Weak financials are the defining feature, and neither the valuation nor the trend reading is strong enough to offset them. Worth reading the risk flags and recent filings closely before anything else.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Falling
- **Percentile:** 2.7 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 75%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 14.24 | 9% |
| growth | 35.38 | 9% |
| momentum | 26.14 | 12% |
| ownership | 50 | 24% |
| quality | 13.11 | 22% |
| valuation | 34.52 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Stock is trading at 4.04 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 6.94% over past five years.
- Company has a low return on equity of -17.9% over last 3 years.
- Working capital days have increased from 55.6 days to 224 days

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 194.19% | 132.79% | — |
| ebitda margin growth | 14.29% | 80.19% | -19.41% | — |
| net income growth | 7.14% | 100% | -91.75% | — |
| revenue growth | 28.57% | 0% | -5% | 7% |
| roce | -18.81% | 94.7% | -90.86% | — |
| roe | -6.43% | 94.05% | 22.3% | — |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue | 1.02 | 0.98 | 0.94 | 0.95 | 1.2 | 0.81 | 0.89 | 1.09 | 0.89 | 0.82 | 0.71 | 0.89 |
| Expenses | 0.6 | 0.81 | 1.42 | 1.25 | 1.11 | 1.2 | 1.37 | 1.35 | 1.4 | 1.35 | 1.44 | 1.47 |
| Financing Profit | 0.08 | -0.08 | -1.15 | -0.96 | -0.46 | -1.11 | -0.9 | -0.69 | -0.94 | -0.97 | -1.18 | -1.02 |
| Financing Margin % | 7.84 | -8.16 | -122.34 | -101.05 | -38.33 | -137.04 | -101.12 | -63.3 | -105.62 | -118.29 | -166.2 | -114.61 |
| Other Income | 0.01 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 |
| Interest | 0.34 | 0.25 | 0.67 | 0.66 | 0.55 | 0.72 | 0.42 | 0.43 | 0.43 | 0.44 | 0.45 | 0.44 |
| Depreciation | 0.16 | 0.19 | 0.38 | 0.4 | 0.42 | 0.39 | 0.38 | 0.31 | 0.31 | 0.31 | 0.3 | 0.26 |
| Profit before tax | -0.07 | -0.25 | -1.51 | -1.34 | -0.87 | -1.49 | -1.27 | -0.99 | -1.24 | -1.27 | -1.46 | -1.26 |
| Tax % | 14.29 | -4 | 1.32 | -2.24 | -2.3 | -8.05 | -4.72 | 0 | -2.42 | -1.57 | -4.79 | 3.97 |
| Net Profit | -0.08 | -0.24 | -1.53 | -1.3 | -0.85 | -1.36 | -1.21 | -0.99 | -1.2 | -1.26 | -1.4 | -1.31 |
| EPS in Rs | -0.03 | -0.1 | -0.67 | -0.57 | -0.37 | -0.59 | -0.53 | -0.43 | -0.52 | -0.55 | -0.61 | -0.57 |

### Profit & Loss

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue | 1.42 | 1.34 | 1.21 | 2.51 | 2.79 | 4.03 | 4.14 | 3.9 | 3.51 | 3.31 |
| Expenses | 0.3 | 0.72 | 1.26 | 0.53 | 1.17 | 2.11 | 3.44 | 4.9 | 5.56 | 5.66 |
| Financing Profit | 1.12 | 0.62 | -0.05 | 1.97 | 1.39 | 0.33 | -0.91 | -3.37 | -3.8 | -4.11 |
| Financing Margin % | 78.87 | 46.27 | -4.13 | 78.49 | 49.82 | 8.19 | -21.98 | -86.41 | -108.26 | -124.17 |
| Other Income | 0 | 0.02 | 0 | 0 | 0.01 | 0 | 0 | 0 | 0.06 | 0.06 |
| Interest | 0 | 0 | 0 | 0.01 | 0.23 | 1.59 | 1.61 | 2.37 | 1.75 | 1.76 |
| Depreciation | 0.06 | 0.02 | 0 | 0.06 | 0.31 | 0.41 | 0.87 | 1.58 | 1.23 | 1.18 |
| Profit before tax | 1.06 | 0.62 | -0.05 | 1.91 | 1.09 | -0.08 | -1.78 | -4.95 | -4.97 | -5.23 |
| Tax % | 21.7 | 111.29 | 140 | 28.27 | 34.86 | 12.5 | 3.37 | -4.65 | -2.41 | — |
| Net Profit | 0.83 | -0.07 | -0.12 | 1.37 | 0.71 | -0.1 | -1.82 | -4.72 | -4.85 | -5.17 |
| EPS in Rs | 0.36 | -0.03 | -0.05 | 0.6 | 0.31 | -0.04 | -0.79 | -2.06 | -2.12 | -2.25 |
| 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 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 |
| Reserves | 15.27 | 16.1 | 22.35 | 22.76 | 24.13 | 24.85 | 24.75 | 22.93 | 18.23 | 13.39 |
| Borrowing | 0 | 0 | 0 | 0 | 0.23 | 11.41 | 11.67 | 20.02 | 13.89 | 13.88 |
| Other Liabilities | 0.7 | 0.71 | 0.28 | 1.3 | 1.79 | 1.62 | 1.97 | 3.43 | 3.16 | 3.94 |
| Total Liabilities | 17.12 | 17.96 | 23.78 | 25.21 | 27.3 | 39.03 | 39.54 | 47.53 | 36.43 | 32.36 |
| Fixed Assets | 0.18 | 0.12 | 0 | 0 | 0.67 | 0.92 | 1.54 | 10.52 | 9.71 | 8.54 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 4.66 | 7.95 | 0.71 | 0.52 | 0.8 | 0.85 | 0.73 | 0.93 | 0.95 | 0.82 |
| Other Assets | 12.28 | 9.89 | 23.07 | 24.69 | 25.83 | 37.26 | 37.27 | 36.08 | 25.77 | 23 |
| Total Assets | 17.12 | 17.96 | 23.78 | 25.21 | 27.3 | 39.03 | 39.54 | 47.53 | 36.43 | 32.36 |

### Cash Flow

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 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -0.86 | 0.81 | -9.12 | -0.3 | 0.75 | -5.84 | 2.22 | 15.47 | 2.56 | -4.99 |
| Cash from Investing Activity | -1.7 | -1.01 | 8.36 | 0.01 | -0.37 | -0.11 | -0.22 | -8.38 | -2.62 | 2.02 |
| Cash from Financing Activity | 0 | 0 | 0 | 0 | -0.36 | 10.2 | -2.81 | 3.85 | -8.81 | -1.89 |
| Net Cash Flow | -2.56 | -0.21 | -0.76 | -0.29 | 0.02 | 4.25 | -0.81 | 10.95 | -8.86 | -4.86 |
| Free Cash Flow | -0.86 | 0.81 | -9.01 | -0.3 | 0.32 | -6.03 | 1.93 | 7.05 | 1.86 | -5.05 |
| CFO/OP | -93 | 91 | -1229 | 600 | 40 | -332 | 120 | 2216 | -256 | 247 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ROE % | 2.51 | 4.93 | -0.25 | -0.51 | 5.57 | 2.77 | -0.39 | -7.28 | -21.72 | -28.6 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 15.19% | 15.28% | 15.28% | 15.27% | 14.27% | 14.27% | 14.56% | 14.52% | 14.47% | 14.47% | 14.4% | 14.4% |
| Others | 9.08% | 8.98% | 8.98% | 9% | 9.99% | 9.99% | 9.71% | 9.75% | 9.8% | 9.8% | 9.87% | 9.87% |
| No. of Shareholders | 1145 | 1192 | 1262 | 1624 | 1559 | 1669 | 1675 | 1690 | 1810 | 1831 | 1828 | 1851 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 3 / 4 / 12

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 28.53 | Sell |
| EMA (10) | 28.01 | Sell |
| SMA (20) | 31.6 | Sell |
| EMA (20) | 30.43 | Sell |
| SMA (50) | 34.77 | Sell |
| EMA (50) | 33.44 | Sell |
| SMA (100) | 36.32 | Sell |
| EMA (100) | 34.96 | Sell |
| SMA (200) | 36.23 | Sell |
| EMA (200) | 36.74 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 34.47 | Neutral |
| MACD (12,26,9) | -2.75 | Sell |
| Stochastic (14,3,3) | 16.31 | Buy |
| ADX (14) | 24.97 | Neutral |
| Williams %R (14) | -84.26 | Buy |
| ATR (14) | 3.14 | High Volatility |
| ROC (12) | -29.79 | Sell |
| Stoch RSI (14) | 3.67 | Buy |
| UO (7,14,28) | 45.39 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-09 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=642a1275-473b-4da6-b0b6-7df47cea97f3.pdf) |
| 2026-09-07 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=47ae2ae3-c7bc-42b0-8beb-2a28085fa6bc.pdf) |
| 2026-09-02 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f5993d6b-810a-4038-baab-635203cd7add.pdf) |
| 2026-09-02 | [AGM Notice](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=efcf26d2-8e6c-4b4f-a548-ae30e3089799.pdf) |
| 2026-09-02 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1e984539-ee0e-4942-874a-139b0c23b9ef.pdf) |
| 2026-09-02 | [Book Closure For Annual General Meeting (AGM) Of The Company](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=51eecc81-7405-49e7-9bc7-3a13ba397977.pdf) |
| 2026-09-01 | [Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=96dddb1f-f916-4d14-a3e3-45638f5fddb8.pdf) |
| 2026-09-01 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=42a99b38-07b2-4e95-b87a-55c2226d8b37.pdf) |
| 2026-08-29 | [Board Meeting Outcome for Outcome Of Board Meeting Held On August 29 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4eacaeea-daf4-4499-9319-2498f21bbbc8.pdf) |
| 2026-08-29 | [Intimation Of Record Date For The Proposed Right Issue](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=196d8124-8de8-4324-8ad8-69be7bbf3c8c.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-13 | [Results June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2e351044-2797-489e-bd47-0a2b98898db1.pdf) |
| 2026-05-26 | [Standalone Financial Results For The Quarter And Financial Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f41b51d4-7455-457d-bc8d-183b9618b27b.pdf) |
| 2026-02-12 | [Results-Financial Results As On 31.12.2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3aed4dd7-9c4f-4521-aff9-f7ced40b5fcb.pdf) |
| 2025-11-13 | [Financial Results On September 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9340abaa-1ef5-4d93-9a8c-e6eb9728035b.pdf) |
| 2025-08-13 | [Results-Financial Results For June 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e82dea4a-8b09-44d2-95d7-5a6361ff1301.pdf) |
| 2025-05-15 | [Results-Financial Results For The Year Ended 31St March 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d2178821-9f54-49c6-ad0a-a950dc431092.pdf) |
| 2025-02-14 | [Results-Unaudited Financials As On 31-12.2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1d3cc655-bcce-438b-b0ef-3f006fac7aea.pdf) |
| 2024-11-14 | [Un-Audited Standalone Financial Results For The Quarter Ended September 30, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8965c3c1-6549-40b1-9a40-fe56899f12b4.pdf) |
| 2024-08-14 | [Un-Audited Standalone Financial Results For The Quarter Ended June 30, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e41b00c7-8e0f-490d-b7fb-8a8740dd245d.pdf) |
| 2024-05-29 | [Audited Standalone Financial Results For The Quarter And Year Ended March 31, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f36cc502-3944-473c-bf8b-1aadce86c2c6.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9 Feb - Allotment of 6,500 secured NCDs (Rs1,000 each) totaling Rs65,00,000 on Feb 09, 2026. | [Allotment Of Non-Convertible Debentures Under Private Placement Basis. 9 Feb - Allotment of 6,500 secured NCDs (Rs1,000 each) totaling Rs65,00,000 on Feb 09, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ee695eb2-0261-463a-b160-46f6697ead0d.pdf) |
| 30 Apr - Company states it is not a Large Corporate as of March 31, 2026; disclosures not applicable. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 30 Apr - Company states it is not a Large Corporate as of March 31, 2026; disclosures not applicable.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/91f8ddeb-4cd6-46ce-9296-5f3b8bb0d65a.pdf) |
| 30 Apr - Company states it is not a Large Corporate as of March 31, 2026; disclosures not applicable. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 30 Apr - Company states it is not a Large Corporate as of March 31, 2026; disclosures not applicable.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/91f8ddeb-4cd6-46ce-9296-5f3b8bb0d65a.pdf) |
| 24 Mar - Board approved rights issue up to ₹2,293.11 Lakhs; Share Issue Committee constituted; record date to be notified. | [Announcement under Regulation 30 (LODR)-Raising of Funds 24 Mar - Board approved rights issue up to ₹2,293.11 Lakhs; Share Issue Committee constituted; record date to be notified.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f229d541-fff0-40a0-b81e-345b271d7feb.pdf) |
| 24 Mar - Board approved rights issue up to ₹2,293.11 Lakhs; record date and terms to be determined on March 24, 2026. | [Board Meeting Outcome for Outcome Of Board Meeting 24 Mar - Board approved rights issue up to ₹2,293.11 Lakhs; record date and terms to be determined on March 24, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/725b8adc-ad52-4d76-86d5-dcd4beb85697.pdf) |
| 2 Nov 2018 - Compliance Certificate for the half year ended 30th September, 2018 certified by our Share Transfer Agent, M/s. Sharex Dynamic (India) Pvt. Ltd. and Mr. Dnyanaraj … | [Compliance Certificate For The Half Year Ended 30Th September, 2018 2 Nov 2018 - Compliance Certificate for the half year ended 30th September, 2018 certified by our Share Transfer Agent, M/s. Sharex Dynamic (India) Pvt. Ltd. and Mr. Dnyanaraj …](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/11/dae8201b-02ac-4cfe-a52b-3a955a226bc9.pdf) |
| 19 Mar - Board meeting March 24, 2026 to re-approve rights issue up to Rs.2293.11 Lakhs under new SEBI rules. | [Board Meeting Intimation for The Company Is Scheduled To Be Held On Tuesday, March 24, 2026 19 Mar - Board meeting March 24, 2026 to re-approve rights issue up to Rs.2293.11 Lakhs under new SEBI rules.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a942c0a7-44a3-482c-a450-d63931dc9e81.pdf) |
| 14 Feb - Newspaper publication of unaudited standalone Financial results for the quarter ended December 31, 2025 | [Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Feb - Newspaper publication of unaudited standalone Financial results for the quarter ended December 31, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7d45e67c-4587-4b01-b097-cd02785adaf7.pdf) |
| 14 Apr - Company clarifies share price rise due to March 24 rights issue approval up to ₹2,293.11 lakh. | [Reply To The Clarification Sought Regarding The Price Movement 14 Apr - Company clarifies share price rise due to March 24 rights issue approval up to ₹2,293.11 lakh.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e8de0790-ddd2-4c3f-aab7-1650b8b6af4b.pdf) |
| 12 Feb - Board approved unaudited standalone Q3 results (ended Dec 31, 2025); limited review report enclosed. | [Outcome Of The Board Meeting Held On Thursday, February 12, 2026 Of Salem Erode Investments Limited 12 Feb - Board approved unaudited standalone Q3 results (ended Dec 31, 2025); limited review report enclosed.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/80744635-34fc-404c-9f77-10ca99b9049e.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2013 from nse](https://archives.nseindia.com/annual_reports/AR_1684_PANORAMUNI_2012_2013_12092013163957.zip) |
| from nse | [Financial Year 2010 from nse](https://archives.nseindia.com/annual_reports/AR_PANORAMUNI_2009_2010_13062011120505.zip) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/30e93b0e-1930-4b9b-b62e-f36e685088be.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/839e3b9e-5e40-405b-b6b5-befeb1e68ca0.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/44f93ae5-ecc3-4826-94db-c34c2f194b0d.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/540181/75266540181.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/540181/70640540181.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/540181/66323540181.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/540181/5401810319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/540181/5401810318.pdf) |

---

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 2026-09-13T18:27:50.533Z.