Annual report
Annual Report 2025
Source: Nse
Ishan International Ltd. (ISHAN)
SME CapIndustrials stocks · SME cap · NSE
Ishan International Ltd. operates in Engineering Products, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:50 pm ISTDetails
Quote21 Oct, 03:50 pm IST
Base fundamentals18 Oct 2026 · screener
Latest result21 May, 07:30 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
48NeutralSMA20 +1.0% / mo · MACD + · near 52W low
Stock trend: 50
Sector RS: 46
Sector 3M: -7.1% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ISHAND candles · FIT view-28.6%Latest close ₹0.50 on 2026-10-21
Bar
-9.1%
RSI
51
MACD hist
0.00
52W pos
11%
2026-10-21O ₹0.55H ₹0.55L ₹0.50C ₹0.50Vol 2.4L 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
ISHANNifty India ManufacturingNifty 500
- ISHAN
- +0.0%
- Nifty 500
- -6.5%
- Nifty India Manufacturing
- -7.7%
- Vs Nifty 500
- +6.5 pp
Chart stats
21 Oct 2026- From 52W high
- -50.0%
- 52W range position
- 9%
- ATR (14)
- 6.2%
- Volume vs 20D
- 1.64x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹0.5 - ₹0.6
₹1
₹0.5 - ₹1
₹0
Latest completed session
20-session average
106.0% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Suggested next step
Verify management risk first
Do not let cheap valuation override weak Trust or governance evidence.
U-Score
Legacy · OVERVALUED19
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -36.1% · PAT -44.6% YoY
Technical
Neutral48
Price trend and sector-relative-strength timing.
Valuation
Legacy model-1026.3%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence47
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
Bad · 0/100Rev -36% YoY · PAT -45% YoY · margin expansion
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹13.5 Cr | -36.1% | +0.8% |
| EBITDA | ₹0.2 Cr | NDF | -54.3% |
| Operating margin | 1.2% | NDF | -142 bps |
| PAT | ₹0.3 Cr | -44.6% | +244.4% |
| PAT margin | 2.3% | NDF | +163 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 11.10
- P/B
- 0.42
- EV/EBITDA
- 39.35
- Market Cap
- 9.73Cr
Profitability
- ROE
- 2.39%
- ROCE
- 5.06%
- ROA
- 1.62%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 19.44%
- EPS 5Y
- -32.20%
- Revenue 3Y
- -31.00%
- EPS 3Y
- -31.00%
Balance Sheet
- Debt/Equity
- 0.20
- Interest Coverage
- 0.36×
- Altman Z
- 2.30
- Book Value
- 1.07
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -9.51 Cr
- EPS TTM
- 0.03
Shareholding
- Promoter Hold
- 48.32%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 0%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 13.5+0.8% vs prev
Net Profit
₹ CrLatest: 0.3+244.4% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
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
Bullish setupTrend is constructive — long-term trend unclear. RSI 51.
- SMA20 rising (~1.0% over last month) — short-term momentum positive.
- RSI(14) at 51 — sideways, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 44% off 52W high · 11% 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.
Valuation & peers
U-Score 19 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 19 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation14/30
Growth5/25
Quality0/20
Balance Sheet7/15
Cash Flow0/10
Piotroski
3/9 (+1)
Penalties
-8
Raw sum
19
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
19/100 · legacy band OVERVALUED
Positive drivers
- Valuation contributes 14/30 to the score.
- Balance sheet contributes 7/15 to the score.
- Growth contributes 5/25 to the score.
Main drags
- Penalty bucket subtracts 8 points.
- Fair-value margin of safety is negative at -1026.3%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
11.1
PB
0.4
EV/EBITDA
39.4
ROE
2.4%
ROCE
5.1%
FCF Yield
—
Debt/Equity
0.2
MoS
-1026.3%
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
19
Previous: 19
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-1026.3%
Previous: -1026.3%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
20
20
20
20
20
20
20
20
19
19
19
19
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
₹0.85
+41.2% MoS
Growth-justified P/E
1.5
Growth-justified Value
₹0.04
-1026.3% MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Industrials — 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
PRESSTONIC
SME
Presstonic Engineering Ltd.
Industrial Machinery
match 70
38
25.8
6.5%
+41%
WATCHLIST
BEWLTD
SME
BEW Engineering Ltd.
Industrial Machinery
match 70
45
16.9
2.7%
+46%
WATCHLIST
EEPL
SME
Eppeltone Engineers Ltd.
Industrial Machinery
match 69
53
15.1
18.8%
+64%
FAIR VALUE
TROM
SME
Trom Industries Ltd.
Industrial Machinery
match 68
67
7.3
13.8%
+80%
UNDERVALUED
HBLENGINE
Small
HBL Engineering Limited
Industrial Machinery
match 62
68
28.8
45.3%
+27%
UNDERVALUED
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
Issuer presentation review pending
Ishan International Ltd. operates in Engineering Products, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 31 Mar 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
47Limited 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 4th percentile of the scored universe and 2nd percentile within Industrials. 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
0 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
4th percentile
overall median 67 · Industrials: 2nd pctile, median 68 · SME: 4th pctile, median 64
Evidence depth
Financial-only
0 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
78
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
59
watch · leverage and solvency
Discipline
32
weak · capital discipline
Results
39
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸3/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Operating cash flow is negative at ₹-10 Cr.
- ▸3 latest quarters had PAT decline worse than 25% YoY.
- ▸Only 0 years of positive FCF.
- ▸Interest coverage is 0.4x.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Ishan International Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.