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Prices as of 8 Oct 2026 close · Not investment advice

Paul Merchants Limited

NSE: PMLOther Financial Services

Share price

₹453.50

-6.27% close of 8 Oct 2026

Market cap ₹136 CrP/E 6.5

Business score

How strong the business is, in one number. The parts behind it are in Pro.

52

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹136 Cr

P/E ratio

6.5

P/B ratio

0.2

ROCE

-30.8%

ROE

-31.7%

Dividend yield

0.0%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹698.2052-week low ₹410.75

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales fell 26.7% over the past year. Meanwhile what it keeps of every 100 rupees of sales slipped from 1.2% to -0.3% over the last four years.

Whether it grew faster than its sector

It grew 8.6% a year against a sector median of 16.0% — 7.4 percentage points slower.

Room to re-rate, or risk of de-rating

At 6.5× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 42×, across 5 companies. It is against its own five-year median of 4.5×, the 75th percentile of its own range.

Whether growth justifies the valuation

Its earnings are falling, so growth cannot justify the price.

Profit growthPrice per ₹1 profitPer 1% growth
Paul Merchants Limited — this one-41%/yr6.5×—
OnEMI Technology Solutions Limited117%/yr20.9×—
Asset Reconstruction Company (India) Limited7%/yr14.4×₹2.1
Algoquant Fintech Limited—42×—
Gyftr Limited16%/yr60.0×₹3.7
Prime Securities Limited22%/yr56.0×₹2.5

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Other Financial Services), it ranks 25 of 25 on returns, 13 of 23 on growth, 22 of 25 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

It is losing money on the capital in the business, so there is no advantage to measure.

Whether its growth pays for itself

Yes — Over the last five years it made ₹533 crore of cash from the business, spent ₹35 crore on plant and equipment, and returned ₹146 crore to lenders and shareholders. But only about 33 of every 100 rupees of profit it reported over 12 years arrived as cash — the rest is tied up.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

Not enough filed accounts to run these checks yet.

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 12 Aug 2026 · Consolidated · Unaudited

Revenue

₹481 Cr

Revenue vs last year

-2.5%

Revenue vs last quarter

-0.3%

Net profit

₹9 Cr

Profit vs last year

-96.9%

Profit vs last quarter

+288.9%

Net margin

1.9%

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹136 Cr
Prev close
₹453.50
52w High
₹774
52w Low
₹407
Enterprise value
₹60 Cr
Beta
0.8
Price CAGR 1y
-27.0%
Price CAGR 3y
-9.0%
Price CAGR 5y
-3.0%
Price CAGR 10y
-8.0%

Ratios

Return on assets
28.6%
PEG ratio
-0.2
P/E ratio
6.5
P/B ratio
0.2
EV / EBITDA
7.1
Industry P/E
17.9
ROCE
-30.8%
ROCE 5y average
-4.6%
ROE
-31.7%
Debt / Equity
0.0
Interest coverage
279.0
Dividend yield
0.0%
ROE 3y average
-20.0%
ROE last year
-32.0%

Annual P&L

Annual revenue
₹2,110 Cr
Annual profit
₹269 Cr
Operating margin
1.0%
Net profit margin
12.7%
EBITDA margin
1.0%
Sales growth 3y
-33.0%
Sales growth 5y
-7.0%
Profit growth 3y
-41.0%
Profit growth 5y
-23.0%
EPS
₹871
Sales growth TTM
-27.0%
Profit growth TTM
269.0%
Dividend payout
0.0%

Quarter P&L

Sales latest quarter
₹481 Cr
Profit latest quarter
₹9 Cr
YoY quarterly sales growth
-2.5%
YoY quarterly profit growth
-96.9%
OPM latest quarter
0.9%

Balance Sheet

Book Value
₹2,990
Face Value
₹10.0
Total debt
₹10 Cr
Total cash
₹90 Cr
Borrowings
₹10 Cr
Reserves / Equity
298.0

Cash Flow

Operating cash flow
₹412 Cr
Free cash flow
₹403 Cr
FCF yield
295.5%
Net cash flow
₹11 Cr

Shareholding

Promoter holding
74.7%
FII holding
0.0%
DII holding
—
Public holding
25.3%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
CRISIL4,449.1036.832,5360.55216.526.21,075.427.632.5
RRPSemiconductor8,125.6011,0700.00-0.3-13.80.0-32.7
Onemi Technology373.0020.96,6120.0095.159.2669.544.622.7
A R C I152.1012.94,9420.0054.954.2234.7115.414.1
Colab Platforms127.30536.52,5970.011.418.332.649.822.4
Algoquant Fin68.1942.81,9170.0016.5263.177.942.931.4
GYFTR173.0060.91,3290.005.3158.26.8
Paul Merchants483.857.31490.008.9452.2480.8-2.5-30.9
Median134.3223.93640.005.530.133.243.79.1

Competes with: Algoquant Fintech Limited, Asset Reconstruction Company (India) Limited, CRISIL Limited, Centrum Capital Limited, Gyftr Limited, OnEMI Technology Solutions Limited, Wealth First Portfolio Managers Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,8361,8392,0908541,016986750582493593505482481
Expenses1,8091,8102,0588601,016988753585497601508483476
Material Cost0
Change in Inventories-5.33
Purchases of Stock-in-Trade462
Employee Cost11
Other Expenses8.70
Operating Profit272933-5.66-0.47-1.22-2.65-2.97-4.16-7.74-3.16-0.424.46
OPM %1.491.601.57-0.66-0.05-0.12-0.35-0.51-0.84-1.30-0.63-0.090.93
Other Income1.041.533.0317162022212947.38-6.926.1810
Exceptional items (within Other Income)0
Interest8.7310110.690.280.660.490.530.530.240.160.160.17
Depreciation1.201.351.651.560.731.050.961.070.831.421.611.611.26
Profit before tax1819239.1414171817288-2.02-123.9913
Tax %262525-2.086.143.42-0.06-1.150.29228214234
Net Profit1415179.3413161817287-6.61-142.298.91
EPS in Rs4447553043525754932-21-477.4329

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,1652,4662,8914,5534,9285,4053,0415,3677,0126,5033,3352,1102,061
Expenses2,1382,4332,8814,5294,9015,3632,9915,3006,9296,4973,3432,0892,068
Operating Profit2732102527425168839-721-7
OPM %1.301.300.300.500.500.801.701.301.200.10-0.201-0.30
Other Income35112012-0111597826417
Interest4322125112021.9611
Depreciation3334333343.403.8056
Profit before tax243116220243644546062652784
Tax %35352338262326261223
Net Profit15201321422263340445564269-10
EPS in Rs4966416897185108130142177207871-32
Dividend Payout %000001000000

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
-2%
5 years
-7%
3 years
-33%
TTM
-27%

Compounded profit growth

10 years
-8%
5 years
-23%
3 years
-41%
TTM
269%

Stock price CAGR

10 years
-8%
5 years
-3%
3 years
-9%
1 year
-27%

Return on equity

10 years
0%
5 years
-10%
3 years
-20%
Last year
-32%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1111111113.083.083
Reserves117138148363366392426466510562626894
Borrowings212418221733801323074932410
Other Liabilities5956608721292951729893532
Total Liabilities1982182284734054555356498901,1561,587940
Fixed Assets4454507676646363677262135
CWIP211000101000
Investments0591239955373024222306
Other Assets1521581672742313364345557991,0631,523499
Total Assets1982182284734054555356498901,1561,591940

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1082118-27613-83-69-38-154-135448412
Cash from Investing Activity-22-161241-25732360-517-387
Cash from Financing Activity-76-2-52-6134241155143-471-14
Net Cash Flow11214-34-184-4923-611
Free Cash Flow85815-4110-76-71-41-162-146444403

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days864100000011
Inventory Days111001101114
Days Payable753100000001
Cash Conversion Cycle222101111125
Working Capital Days11-13122047333652133
ROCE %231180610101211-5-10-31

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters757575757575757575757575
FIIs00000.220.220.160.160.160.1600
Public252525252525252525252525
No. of Shareholders2,7583,4153,9504,1284,2734,4024,4574,4194,3684,3164,2554,237

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -31.4% (₹661.50 → ₹453.50)Brick size ₹22.57 (fixed)Bricks 30
₹500₹600₹454Nov '25Jan '26Mar '26May '26Jul '26
Price moved up one brickPrice moved down one brickLast close ₹453.50 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

News

News and filings about Paul Merchants Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Sells products of

  • DELPHI WORLD MONEY LIMITED
  • Ebix Money Express Services (P) Ltd
  • MoneyGram
  • Paul Merchants Finance (Pvt) Ltd
  • RIA Money Transfer
  • Transfast
  • Western Union
  • Western Union Business Solutions (WUBS)

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Financial Services
Industry
Other Financial Services
Classification
Financial Services › Other Financial Services
ISIN
INE291E01019

News impact

Big market events that reach Paul Merchants Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

No dividends, splits or big trades on record.

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.