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Swing Capital

National Standard (India) Ltd

NSE: NATIONSTD BSE: 504882Infra

National Standard (India) Limited, incorporated in 1962, is presently engaged in the business of Real Estate Development.[1] The Company is a subsidiary of Lodha Developers Ltd. The ultimate holding company is Sambhavnath Infrabuild and Farms Pvt. Ltd.[2]

₹1,085
52W: ₹1085 — ₹3384
PE 225 · Book ₹141 · +670% vs book
Market Cap₹2,170 Cr
Stock P/E225Price to Earnings
ROCE4.79%Return on Capital
ROE3.49%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company is almost debt free.

Weaknesses

  • −Stock is trading at 8.37 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −The company has delivered a poor sales growth of 3.91% over past five years.
  • −Company has a low return on equity of 4.73% over last 3 years.
  • −Earnings include an other income of Rs.19.5 Cr.

Shareholding Pattern

Promoters73.94%
FIIs0%
DIIs0%
Public26.05%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters73.94%73.94%73.94%73.94%73.94%73.94%73.94%73.94%
FIIs0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%
Public26.05%26.05%26.05%26.05%26.05%26.06%▲0.026.05%▼0.026.05%

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales14.825.590.033.815.692.81017.253.170
Expenses12.244.120.851.7616.662.922.8517.613.232.99
Operating Profit2.581.47-0.822.04-0.97-0.11-2.85-0.36-0.06-2.99
OPM %17.41%26.3%-2733.33%53.68%-6.18%-3.91%0%-2.09%-1.89%0%
Net Profit4.924.222.644.82.153.60.994.263.251.16
EPS ₹2.462.111.322.41.081.80.52.131.620.58

AI Insights

Revenue Trend

Mar 2026 revenue at ₹20.42Cr, down 8.6% YoY. OPM at -30.66%.

Debt Position

Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 73.94%.

Margin & Efficiency

ROCE declining from 44.78% (Mar 2015) to 4.79% (Mar 2026). Working capital days: 4713.

Valuation

PE 225x with 4.79% ROCE. Price is 670% above book value of ₹141. Dividend yield: 0%.

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