Annual reportSep 2026
Sep 2026 · Shareholders meeting 7 Sep - Blue Pebble issued FY26 annual report and AGM notice for Sept. 30, 2026; proposes Karuna Nalin Gagrani reappointment.
Source: Nse
Blue Pebble Ltd. (BLUEPEBBLE)
SME CapServices stocks · SME cap · NSE
Blue Pebble Ltd. specializes in innovative workspace design, offering spatial branding, interior fit-out, and immersive digital experiences. The company focuses on strategic storytelling and high-impact workplace solutions, aiming to cement its leadership in design and reinforce its position as a trusted partner.
₹63
+0.75 · +1.20%
Market cap ₹25.4 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals16 Oct 2026 · screener
Latest result16 May, 04:03 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Services P/E 17.7 (n=143)
Technical timing lens
Trend score and candlestick chart
22Bearishfull bear SMA stack · SMA20 -1.1% / mo · MACD − · near 52W low
Stock trend: 22
Sector RS: —
Services FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but exact sector-index confirmation is unavailable. View sector evidence
Technical chart
BLUEPEBBLED candles · FIT view-47.5%Latest close ₹63.00 on 2026-10-19
Bar
+1.6%
RSI
38
MACD hist
-0.90
52W pos
3%
2026-10-19O ₹62.00H ₹65.35L ₹62.00C ₹63.00Vol 2,400 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
BLUEPEBBLENifty 500
- BLUEPEBBLE
- -10.0%
- Nifty 500
- -5.6%
- Vs Nifty 500
- -4.4 pp
Chart stats
19 Oct 2026- From 52W high
- -65.0%
- 52W range position
- 3%
- ATR (14)
- 5.7%
- Volume vs 20D
- 1.52x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹60.7 - ₹80
₹180
₹59.2 - ₹180
₹3.6
Latest completed session
20-session average
44.3% annualized volatility
No exact NSE sector index is mapped for this company. Nifty 500 remains the broad-market comparison.
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED10
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Bearish22
Price trend and sector-relative-strength timing.
Valuation
Legacy model-52400.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence57
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹11.1 Cr | NDF | NDF |
| EBITDA | ₹-0.1 Cr | NDF | -109.3% |
| Operating margin | -0.9% | NDF | -1119 bps |
| PAT | ₹-0.3 Cr | NDF | NDF |
| PAT margin | -2.4% | NDF | -956 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 51.80
- P/B
- 0.91
- EV/EBITDA
- 13.16
- Market Cap
- 25.40Cr
Profitability
- ROE
- 1.77%
- ROCE
- 2.42%
- ROA
- 1.51%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- -52.61%
- EPS 5Y
- -90.32%
- Revenue 3Y
- -52.61%
- EPS 3Y
- -90.32%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 100.00×
- Altman Z
- 5.46
- Book Value
- 68.20
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -4.03 Cr
- EPS TTM
- 1.20
Shareholding
- Promoter Hold
- 73.53%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 3%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 21.6-52.6% vs prev
Net Profit
₹ CrLatest: 0.5-90.3% vs prev
Return on Equity
%Latest: 1.8-90.4% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 38.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~1.1% over last month) — short-term momentum negative.
- RSI(14) at 38 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 63% off 52W high · 6% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
3
RS percentile
Stage 4 Downtrend
1M return
-20.3%
3M return
-15.9%
6M return
-54.3%
1Y return
-63.0%
RS 1D
+1
RS 20D
-2
Sector rank
#12
Industry rank
-
Stage evidence
- Price is 30.9% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -10.0%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
250 observations
19 Oct 2026Value 37.25+2.28%
RS vs Nifty 50037
Valuation & peers
U-Score 10 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 10 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation3/30
Growth0/25
Quality0/20
Balance Sheet13/15
Cash Flow0/10
Piotroski
3/9 (+1)
Penalties
-7
Raw sum
10
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
10/100 · legacy band OVERVALUED
Positive drivers
- Balance sheet contributes 13/15 to the score.
- Valuation contributes 3/30 to the score.
- Growth contributes 0/25 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Fair-value margin of safety is negative at -52400.0%.
- Growth is weaker at 0/25; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
51.8
PB
0.9
EV/EBITDA
13.2
ROE
1.8%
ROCE
2.4%
FCF Yield
—
Debt/Equity
0.0
MoS
-52400.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
10
Previous: 10
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-52400.0%
Previous: -52400.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
9
9
9
9
9
9
10
10
10
10
10
10
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹42.91
-46.8% MoS
Growth-justified P/E
0.1
Growth-justified Value
₹0.12
-52400.0% MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
CGRAPHICS
SME
Creative Graphics Solutions India Ltd.
Printing & Packaging
match 27
47
19.8
16.2%
+51%
FAIR VALUE
MARINETRAN
SME
Marinetrans India Ltd.
Logistics
match 17
12
117.0
1.5%
-292%
OVERVALUED
PHOGLOBAL
SME
Phoenix Overseas Ltd.
Trading
match 16
27
9.5
4.2%
-14%
OVERVALUED
CADSYS
SME
Cadsys (India) Ltd.
Engineering Services
match 16
24
—
-35.9%
—
OVERVALUED
MIEL
SME
Manglam Infra & Engineering Ltd.
Construction & Engineering
match 15
57
6.9
6.8%
+50%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-23T19:38:36.212Z
Management commentary snapshot
Blue Pebble reports FY24-25 revenue of ₹45.66 Cr, marking a 106.4% YoY growth. EBITDA increased to ₹6.39 Cr, but EBITDA margin contracted to 13.99% from 22.80% in FY23-24.
The company demonstrates robust top-line growth, more than doubling revenue YoY, indicating strong demand for its services. However, a significant contraction in EBITDA and PAT margins warrants close monitoring, suggesting potential cost pressures or a shift in project mix. The strong project pipeline for FY25-26 indicates continued demand.
Current business mix
Revenue Distribution by Business Segments (FY24-25)
Latest issuer-disclosed distribution across 3 reported categories.
Spatial Branding53.7%
Design & Build31.0%
Immersive & Digital15.3%
Growth engines
Strategic Partnerships
Management identifies strategic partnerships as a key growth initiative.
Technology Integration
The company is developing an AEC Unified Platform with advanced design tools and AI/analytics capabilities.
Market Entry & Sales Team Expansion
Management plans to expand its sales team and enter new markets as strategic growth initiatives.
Upcoming Projects Pipeline
The company has upcoming projects for FY25-26 with a total financial contribution of over ₹10.3 Cr as of April 2025.
Capacity and execution
New Equipment Acquisition
The company has acquired an EFI Pro 30h Hybrid, HP Latex 700 & 800, Laser Machine, CNC Router, UV Braille Embossing Machine, and Paint Booth.
Tailwinds
Strong Demand for Hybrid Workplaces
A panel on 'Hybrid & Hyperconnected Workplaces' at the 22nd Smart Office India Summit generated 7+ high-value leads.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The document provides only annual financial data (FY21-25), making year-over-year comparison the only relevant basis to assess growth and performance trends.
Sector KPIs management disclosed
Revenue From Operations (FY24-25)
₹45.66 Cr, a 106.4% YoY growth from ₹22.06 Cr in FY23-24.
EBITDA (FY24-25)
₹6.39 Cr, a 27% increase from ₹5.03 Cr in FY23-24.
EBITDA Margin (FY24-25)
13.99%, down from 22.80% in FY23-24.
PAT (FY24-25)
₹5.06 Cr, a 35% increase from ₹3.75 Cr in FY23-24.
Management forward view
Focus on Strategic Growth Initiatives
Management is focused on team expansion, market entry, sales team expansion, strategic partnerships, brand positioning, and technology integration.
Development of AEC Unified Platform
The company is developing a platform with modules for design, field management, collaboration, project management, AI/analytics, and integration.
Commitment to Operational Discipline and Quality
Management emphasizes operational discipline, workplace safety, creative thought process, environmental responsibility, and superior quality output.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth Rate | 106.4% YoY in FY24-25 | Sustained high growth rates and execution of the FY25-26 project pipeline. |
| EBITDA Margin Trend | 13.99% in FY24-25 (down from 22.80%) | Stabilization or improvement in margins, indicating better cost control or project profitability. |
| AEC Unified Platform Development | Modules are under development | Timely launch and adoption of the platform, and its contribution to efficiency or new revenue streams. |
| New Project Wins and Execution | Upcoming projects for FY25-26 valued at over ₹10.3 Cr | Successful execution of these projects and continued expansion of the order book. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
57Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 20th percentile of the scored universe and 20th percentile within Services. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
6 docs text-extracted · 3 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
20th percentile
overall median 67 · Services: 20th pctile, median 66 · SME: 21st pctile, median 64
Evidence depth
Financial-only
6 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
88
strong · leverage and solvency
Discipline
40
weak · capital discipline
Results
45
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 73.5%.
- ▸Promoter pledge is zero.
- ▸Debt/equity is 0.04.
Trust risks
- ▸Operating cash flow is negative at ₹-4 Cr.
- ▸Only 0 years of positive FCF.
- ▸ROCE is low at 2.3%.
- ▸ROE is low at 1.8%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Blue Pebble Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Concall transcriptMay 2025
May 2025 · Transcript
Source: Nse
Investor presentationMay 2025
May 2025 · PPT
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
Investor presentationNov 2024
Nov 2024 · PPT
Source: Nse
Concall transcriptNov 2024
Nov 2024 · Transcript
Source: Company Ir
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.