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Swing Capital

Paul Merchants Ltd

NSE: PML BSE: 539113

Paul Merchants Ltd (PML) is a Diversified company listed on NSE: PML | BSE: 539113. With a market cap of ₹178 Cr and ROCE of 2.12%, ROE of 1.38%, it operates in the Indian Diversified sector.

₹578
52W: ₹407 — ₹823
PE 13.2 · Book ₹1604 · -64% vs book
Market Cap₹178 Cr
Stock P/E13.2Price to Earnings
ROCE2.12%Return on Capital
ROE1.38%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Stock is trading at 0.35 times its book value

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −The company has delivered a poor sales growth of -9.03% over past five years.
  • −Company has a low return on equity of 4.25% over last 3 years.
  • −Contingent liabilities of Rs.1,195 Cr.
  • −Earnings include an other income of Rs.31.1 Cr.

Shareholding Pattern

Promoters74.66%
FIIs0%
DIIs0%
Public25.35%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74.66%74.66%74.66%74.66%74.66%74.66%74.66%74.66%
FIIs0%0.22%▲0.20.22%0.16%▼0.10.16%0.16%0.16%0%▼0.2
DIIs0%0%0%0%0%0%0%0%
Public25.36%25.12%▼0.225.14%▲0.025.19%▲0.125.19%25.19%25.19%25.35%▲0.2

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales17,99,.0320,46,.03853.5110,15,.83985.41749.25578.09493.07591.22499.61
Expenses17,95,.3220,42,.67856.4310,16,.09985.66750.85580.72494.86593.67501.76
Operating Profit3.713.36-2.92-0.26-0.25-1.6-2.63-1.79-2.45-2.15
OPM %0.21%0.16%-0.34%-0.03%-0.03%-0.21%-0.45%-0.36%-0.41%-0.43%
Net Profit7.567.632.82.52.720.160.521.4411.420.04
EPS ₹24.3924.749.088.118.820.521.694.6737.030.13

AI Insights

Revenue Trend

TTM revenue at ₹2,162Cr, down 35.4% YoY. OPM at 0%.

Debt Position

Borrowings at ₹8Cr. Debt-to-equity ratio: 0.02x. Healthy balance sheet.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 74.66%.

Margin & Efficiency

ROCE declining from 18% (Mar 2014) to 2% (Mar 2025). Working capital days: 17.

Valuation

PE 13.2x with 2.12% ROCE. Price is -64% above book value of ₹1,604. Dividend yield: 0%.

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