--- title: "Adhiraj Distributors (ADHIRAJ) Financials & Shareholding" symbol: "780018" company: "Adhiraj Distributors Ltd" canonical: "https://tapetide.com/stocks/780018" isin: "INE067R01015" bse_code: "780018" generated_at: "2026-11-05T01:52:18.316Z" --- # Adhiraj Distributors (ADHIRAJ) Canonical page: https://tapetide.com/stocks/780018 ## Key Facts - **Revenue, Sep 2024 half year:** under ₹1 Cr, against under ₹1 Cr in Sep 2023 - **Net profit, Sep 2024 half year:** ₹0.04 Cr, against ₹0.02 Cr in Sep 2023 - **Promoter holding:** 20.40% in Sep 2024, unchanged from Mar 2024 ## Company - **BSE code:** 780018 - **ISIN:** INE067R01015 - **In the F&O segment:** No ## Key Insights ### Strengths - Company is almost debt free. ### Weaknesses - Company has low interest coverage ratio. - The company has delivered a poor sales growth of -34.6% over past five years. - Company has a low return on equity of 0.02% over last 3 years. ## Growth Rate Growth computed from the financial statements below. A window with no rate gives the reason instead of a figure. | Metric | Window | Growth | What it compares | | --- | --- | ---: | --- | | Revenue | 10Y | -24.89% | compounded annual rate, Mar 2015 to Mar 2025 | | Revenue | 5Y | -34.56% | compounded annual rate, Mar 2020 to Mar 2025 | | Revenue | 3Y | -33.5% | compounded annual rate, Mar 2022 to Mar 2025 | | Revenue | 1Y | Zero base | fiscal year to Mar 2025 vs the year to Mar 2024: ₹0.00 Cr to ₹0.30 Cr. The starting figure is zero, so there is no rate. | | Net profit | 10Y | Turned to loss | compounded annual rate, Mar 2015 to Mar 2025: ₹0.07 Cr to -₹0.18 Cr. A profit at the start and a loss at the end. | | Net profit | 5Y | Turned to loss | compounded annual rate, Mar 2020 to Mar 2025: ₹0.08 Cr to -₹0.18 Cr. A profit at the start and a loss at the end. | | Net profit | 3Y | Turned to loss | compounded annual rate, Mar 2022 to Mar 2025: ₹0.06 Cr to -₹0.18 Cr. A profit at the start and a loss at the end. | | Net profit | 1Y | Turned to loss | fiscal year to Mar 2025 vs the year to Mar 2024: ₹0.11 Cr to -₹0.18 Cr. A profit at the start and a loss at the end. | | Operating cash flow | 10Y | Outflow narrowed | compounded annual rate, Mar 2015 to Mar 2025: -₹6.56 Cr to -₹0.07 Cr. A cash outflow at the start, and a smaller one or none at the end. | | Operating cash flow | 5Y | Outflow narrowed | compounded annual rate, Mar 2020 to Mar 2025: -₹5.29 Cr to -₹0.07 Cr. A cash outflow at the start, and a smaller one or none at the end. | | Operating cash flow | 3Y | Outflow narrowed | compounded annual rate, Mar 2022 to Mar 2025: -₹0.37 Cr to -₹0.07 Cr. A cash outflow at the start, and a smaller one or none at the end. | | Operating cash flow | 1Y | Outflow narrowed | fiscal year to Mar 2025 vs the year to Mar 2024: -₹1.11 Cr to -₹0.07 Cr. A cash outflow at the start, and a smaller one or none at the end. | | Operating margin | 10Y | -256.95 pp | compounded annual rate, Mar 2015 to Mar 2025 | | Operating margin | 5Y | -244.00 pp | compounded annual rate, Mar 2020 to Mar 2025 | | Operating margin | 3Y | -214.90 pp | compounded annual rate, Mar 2022 to Mar 2025 | | Operating margin | 1Y | No sales | fiscal year to Mar 2025 vs the year to Mar 2024. Sales are zero or negative in one of the two periods, so there is no margin. | Trailing twelve months: The latest quarterly results are more than a year old. ## Financial Statements ### Half-yearly Results Results for the period ended Mar 2025 were due by 30 May 2025 and are not in this table yet. Figures in ₹ crore unless the row name gives another unit. | Item | Mar 2019 | Sep 2019 | Mar 2020 | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Sales | 0.4 | 2.5 | 0 | 2.26 | 0.59 | 1.26 | 0.05 | 0.3 | 0.1 | 0 | 0 | 0 | | Expenses | 0.57 | 2.67 | 0.22 | 2.18 | 27.85 | 1.22 | 0.24 | 0.26 | 0.28 | 0.25 | 0.25 | 0.25 | | Operating Profit | -0.17 | -0.17 | -0.22 | 0.08 | -27.26 | 0.04 | -0.19 | 0.04 | -0.18 | -0.25 | -0.25 | -0.25 | | OPM % | -42.5% | -6.8% | — | 3.54% | n/m | 3.17% | -380% | 13.33% | -180% | — | — | — | | Other Income | 0.3 | 0.28 | 0.22 | 0 | 27.16 | 0 | 0.23 | 0 | 0.25 | 0.28 | 0.36 | 0.3 | | Interest | 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 | | Profit before tax | 0.13 | 0.11 | 0 | 0.08 | -0.1 | 0.04 | 0.04 | 0.04 | 0.07 | 0.03 | 0.11 | 0.05 | | Tax % | 23.08% | 27.27% | — | 25% | -20% | 25% | 0% | 25% | 28.57% | 33.33% | 27.27% | 20% | | Net Profit | 0.1 | 0.08 | 0 | 0.06 | -0.08 | 0.03 | 0.03 | 0.03 | 0.05 | 0.02 | 0.08 | 0.04 | | EPS in Rs | 0.06 | 0.05 | 0 | 0.04 | -0.05 | 0.02 | 0.02 | 0.02 | 0.03 | 0.01 | 0.05 | 0.03 | n/m: 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. ### Profit & Loss Figures in ₹ crore unless the row name gives another unit. | Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Sales | 1.2 | 5.25 | 6.32 | 3.29 | 1.09 | 3.5 | 2.5 | 2.55 | 1.02 | 0.1 | 0 | 0.3 | | Expenses | 1.19 | 5.41 | 6.68 | 3.77 | 1.47 | 3.81 | 2.9 | 30.03 | 1.48 | 0.54 | 0.5 | 1.08 | | Operating Profit | 0.01 | -0.16 | -0.36 | -0.48 | -0.38 | -0.31 | -0.4 | -27.48 | -0.46 | -0.44 | -0.5 | -0.78 | | OPM % | 0.83% | -3.05% | -5.7% | -14.59% | -34.86% | -8.86% | -16% | n/m | -45.1% | -440% | — | -260% | | Other Income | 0.03 | 0.28 | 0.56 | 0.59 | 0.58 | 0.58 | 0.5 | 27.46 | 0.53 | 0.55 | 0.64 | 0.6 | | Interest | 0 | 0 | 0 | 0 | 0 | 0.07 | 0 | 0 | 0 | 0 | 0 | 0 | | Depreciation | 0 | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | Profit before tax | 0.04 | 0.11 | 0.19 | 0.1 | 0.2 | 0.2 | 0.1 | -0.02 | 0.07 | 0.11 | 0.14 | -0.18 | | Tax % | 25% | 36.36% | 31.58% | 50% | 25% | 25% | 30% | 0% | 14.29% | 27.27% | 28.57% | 0% | | Net Profit | 0.03 | 0.07 | 0.13 | 0.05 | 0.15 | 0.15 | 0.08 | -0.02 | 0.06 | 0.08 | 0.11 | -0.18 | | EPS in Rs | — | 0.04 | 0.08 | 0.03 | 0.1 | 0.1 | 0.05 | -0.01 | 0.04 | 0.05 | 0.07 | -0.11 | | Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | n/m: 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. ### Balance Sheet Figures in ₹ crore unless the row name gives another unit. | Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Equity Capital | 15.19 | 15.69 | 15.69 | 15.69 | 15.69 | 15.69 | 15.69 | 15.69 | 15.69 | 15.69 | 15.69 | 15.69 | | Reserves | 0.03 | 0.1 | 0.23 | 0.28 | 0.43 | 0.58 | 0.65 | 0.63 | 0.69 | 0.77 | 0.87 | 0.7 | | Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.45 | 0.4 | | Other Liabilities | 0.81 | 0.02 | 1.77 | 0.29 | 0.1 | 37.08 | 36.3 | 0.05 | 0.06 | 0.02 | 0.03 | 0.04 | | Total Liabilities | 16.03 | 15.81 | 17.69 | 16.26 | 16.22 | 53.35 | 52.64 | 16.37 | 16.44 | 16.48 | 17.04 | 16.83 | | Fixed Assets | 0.03 | 0.02 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | Investments | 13.32 | 6.85 | 6.88 | 7.24 | 7.17 | 6.92 | 2.04 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | | Other Assets | 2.68 | 8.94 | 10.8 | 9.02 | 9.05 | 46.43 | 50.6 | 15.38 | 15.45 | 15.49 | 16.05 | 15.84 | | Total Assets | 16.03 | 15.81 | 17.69 | 16.26 | 16.22 | 53.35 | 52.64 | 16.37 | 16.44 | 16.48 | 17.04 | 16.83 | ### Cash Flow Figures in ₹ crore unless the row name gives another unit. | Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Cash from Operating Activity | -0.66 | -6.56 | -1.3 | -0.48 | -0.76 | -1.02 | -5.29 | -1.41 | -0.37 | -0.69 | -1.11 | -0.07 | | Cash from Investing Activity | -8.77 | 6.75 | 0.54 | 0.23 | 0.64 | 0.83 | 5.37 | 1.52 | 0.53 | 0.55 | 0.64 | 0.6 | | Cash from Financing Activity | 10.05 | 0.53 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.45 | -0.05 | | Net Cash Flow | 0.62 | 0.72 | -0.76 | -0.25 | -0.11 | -0.19 | 0.08 | 0.11 | 0.15 | -0.14 | -0.02 | 0.48 | | Free Cash Flow | -0.69 | -6.56 | -1.3 | -0.48 | -0.76 | -1.02 | -5.29 | -1.41 | -0.37 | -0.69 | -1.11 | -0.07 | | CFO/EBITDA | -6,600 | 4,069 | 378 | 90 | 187 | 313 | 1,315 | 5 | 78 | 150 | 214 | 9 | ### Ratios | Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Debtor Days | 289 | 107 | 191 | 133 | 198 | 457 | 902 | 185 | 258 | 1,679 | — | 0 | | Inventory Days | 0 | 29.81 | 14.67 | 16.22 | 0 | 3,076 | 3,942 | 0 | 0 | 0 | — | 0 | | Days Payable | — | 1.45 | 100 | 33.6 | — | 3,615 | 5,298 | — | — | — | — | — | | Cash Conversion Cycle | 289 | 135 | 105 | 116 | 198 | -81.34 | -454 | 185 | 258 | 1,679 | — | 0 | | Working Capital Days | 365 | 526 | 486 | 929 | 2,913 | 968 | 2,067 | 2,160 | 5,368 | n/m | — | n/m | | ROCE % | 0.39% | 0.71% | 1.2% | 0.63% | 1.25% | 1.67% | 0.61% | -165.46% | 0.43% | 0.67% | 0.84% | -1.07% | n/m: 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. ## Shareholding Pattern The latest pattern on file is for Sep 2024; it may not describe the holding today. ### Quarterly Shareholding Holdings in % of shares; shareholders as a count. | Holder | Mar 2020 | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Sep 2024 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Promoters | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | | FIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | | DIIs | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% | | Government | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | | Public | 76.41% | 76.41% | 76.41% | 76.41% | 76.41% | 76.42% | 76.41% | 76.41% | 76.41% | 76.41% | 76.41% | 76.41% | | Others | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | | No. of Shareholders | 642 | 640 | 639 | 639 | 638 | 634 | 631 | 630 | 629 | 5,00,628 | 5,00,625 | 621 | ### Annual Shareholding Holdings in % of shares; shareholders as a count. | Holder | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Promoters | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | 20.40% | | FIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | | DIIs | 0.00% | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% | | Government | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | | Public | 79.60% | 76.41% | 76.41% | 76.41% | 76.41% | 76.41% | 76.41% | 76.41% | 76.41% | | Others | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | | No. of Shareholders | 663 | 669 | 657 | 642 | 639 | 638 | 630 | 5,00,625 | 621 | ## Documents ### Annual reports | Year | Report | | --- | --- | | FY2024 | [Annual report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b67fa3e7-64f1-4f71-820c-254e2f17dec1.pdf) | | FY2023 | [Annual report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=09b8b51b-72f9-433b-bbf8-583582ecb33d.pdf) | | FY2022 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/780018/75961780018.pdf) | | FY2021 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/780018/71350780018_30_09_21.pdf) | | FY2020 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/780018/66462780018.pdf) | | FY2019 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/780018/7800180319.pdf) | | FY2018 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/780018/7800180318.pdf) | | FY2017 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/780018/7800180317.pdf) | | FY2016 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/780018/7800180316.pdf) | | FY2015 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/780018/7800180315.pdf) | | FY2014 | [Annual report](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2014/ADHIRAJ_DISTRIBUTORS_LTD-780018-MARCH-2014.PDF) | ### Exchange filings | Date | Document | | --- | --- | | 3 Feb 2026 | [General Updates](https://nsearchives.nseindia.com/corporate/SIKKO_03022026192703_Covering.pdf) | | 3 Feb 2026 | [General Updates](https://nsearchives.nseindia.com/corporate/SIKKO_03022026193353_Covering.pdf) | | 12 Jan 2026 | [Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/SIKKO_12012026190508_Covering.pdf) | | 6 Jan 2026 | [Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/SIKKO_06012026135359_Covering.pdf) | | 15 Jan 2025 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=75e04e74-0d4e-450b-8ca0-f67a83ae3325.pdf) | | 13 Nov 2024 | [Financial Results Of The Company For The Second Quarter And Half Year Ended 30Th September 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7c9960da-f807-46fc-9ad4-542556da8620.pdf) | | 13 Nov 2024 | [Board Meeting Outcome for Financial Results Of The Company For The Second Quarter And Half Year Ended 30Th September 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f27ed05a-c5e7-4750-b1f5-37a8afa0b8d8.pdf) | | 6 Nov 2024 | [Board Meeting Intimation for Board Meeting Will Be Held On 13Th November 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=00e8641e-b7a4-4342-9d69-4cd651fa0b3f.pdf) | | 18 Oct 2024 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=734baeca-787b-4665-9f2b-a5dedea01127.pdf) | ## Frequently Asked Questions about Adhiraj Distributors ### What does Adhiraj Distributors Ltd do? Adhiraj Distributors is actively engaged in business of trading activities. ### Where is Adhiraj Distributors Ltd (ADHIRAJ) listed? Adhiraj Distributors Ltd trades under code 780018 on the BSE. ## Company Information Adhiraj Distributors is actively engaged in business of trading activities. - **Website:** https://adhirajdistributors.com/ - **Face Value:** ₹10 --- Negative figures use an ASCII hyphen-minus (-) so they parse as numbers. Amounts are in Indian rupees; "Cr" is crore (10 million). Dates are Indian Standard Time. Financial statements, shareholding and filings are as reported by the company. Price, volume and 52-week levels are market data. Technical indicators are computed by Tapetide from daily prices. The Tapetide Score is Tapetide’s own analysis. Analyst ratings and forecasts are the published estimates of third-party analysts, not company statements. The AI sections are generated text. For research and information only, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser. Generated 5 Nov 2026, 07:22 IST.