Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Naman Industries Proxima Ltd. (NAMAN)
SME CapConsumer stocks · SME cap · NSE
Naman Industries Proxima Ltd. provides design-to-delivery solutions for retail and industrial spaces, specializing in display and retail fixtures. With over two decades of expertise, it serves leading enterprises PAN-India, offering multi-material capabilities and end-to-end project execution.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result16 May, 04:13 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
40NeutralSMA20 +12.2% / mo · MACD − · near 52W low · sector -4.6pp vs Nifty 500 (3M)
Stock trend: 46
Sector RS: 31
Sector 3M: -10.2% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
NAMAND candles · FIT view-23.8%Latest close ₹45.05 on 2026-10-21
Bar
-5.0%
RSI
49
MACD hist
-0.23
52W pos
17%
2026-10-21O ₹47.40H ₹47.40L ₹45.05C ₹45.05Vol 3,200 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
NAMANNifty Consumer DurablesNifty 500
- NAMAN
- -1.6%
- Nifty 500
- -6.5%
- Nifty Consumer Durables
- -11.0%
- Vs Nifty 500
- +4.9 pp
Chart stats
21 Oct 2026- From 52W high
- -52.0%
- 52W range position
- 14%
- ATR (14)
- 3.7%
- Volume vs 20D
- 0.34x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹37.1 - ₹50.8
₹93.8
₹37 - ₹93.8
₹1.7
Latest completed session
20-session average
60.4% 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 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 · OVERVALUED20
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +12.1% · PAT -175.0% YoY
Technical
Neutral40
Price trend and sector-relative-strength timing.
Valuation
Legacy model—
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence54
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 · 0/100PAT -175% YoY · margin compression · Rev +12% YoY · +7% QoQ
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹74 Cr | +12.1% | +7.3% |
| EBITDA | ₹-1 Cr | NDF | -133.3% |
| Operating margin | -1.7% | NDF | -530 bps |
| PAT | ₹-3 Cr | -175.0% | NDF |
| PAT margin | -4.0% | NDF | -405 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- —
- P/B
- 0.80
- EV/EBITDA
- 21.48
- Market Cap
- 61.90Cr
Profitability
- ROE
- -2.97%
- ROCE
- -0.39%
- ROA
- -1.64%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 60.00%
- EPS 5Y
- 11.00%
- Revenue 3Y
- -2.00%
- EPS 3Y
- 9.00%
Balance Sheet
- Debt/Equity
- 0.31
- Interest Coverage
- 0.33×
- Altman Z
- 2.98
- Book Value
- 59.00
Cash Flow
- FCF Yield
- 14.54%
- FCF Positive Y
- 2/5
- OCF
- -7.00 Cr
- EPS TTM
- -1.74
Shareholding
- Promoter Hold
- 58.93%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 22%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 74.0+7.2% vs prev
Net Profit
₹ CrLatest: -3.0
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
Mixed signalsSignals are conflicting — long-term trend down. RSI 49. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 rising (~10.8% over last month) — short-term momentum positive.
- RSI(14) at 49 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 47% off 52W high · 22% 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
24
RS percentile
Stage 4 Downtrend
1M return
+19.7%
3M return
-7.1%
6M return
+1.8%
1Y return
-49.1%
RS 1D
-5
RS 20D
+21
Sector rank
#8
Industry rank
#33
Stage evidence
- Price is 6.9% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -3.6%.
50-DMA
price above
200-DMA
price below
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
238 observations
21 Oct 2026Value 56.01-4.08%
RS vs Nifty 50056
Valuation & peers
U-Score 20 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 20 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation5/30
Growth10/25
Quality0/20
Balance Sheet7/15
Cash Flow5/10
Piotroski
3/9 (+1)
Penalties
-8
Raw sum
20
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
20/100 · legacy band OVERVALUED
Positive drivers
- FCF yield is supportive at 14.5%.
- Cash flow contributes 5/10 to the score.
- Balance sheet contributes 7/15 to the score.
Main drags
- Penalty bucket subtracts 8 points.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Valuation is weaker at 5/30; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
—
PB
0.8
EV/EBITDA
21.5
ROE
-3.0%
ROCE
-0.4%
FCF Yield
14.5%
Debt/Equity
0.3
MoS
—
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
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
20
Previous: 20
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
—
No stored baseline yet
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
20
20
20
20
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
—
Growth-justified P/E
40.0
Growth-justified Value
—
— MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Consumer — 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
BONLON
Small
Bonlon Industries Limited
Textiles
match 88
22
23.9
2.9%
-74%
OVERVALUED
PARAMOUNT
SME
Paramount Dye Tec Ltd.
Textiles
match 87
34
4.1
10.1%
-468%
WATCHLIST
KCK
SME
Kck Industries Ltd.
Textiles
match 87
5
—
-0.1%
-1512%
OVERVALUED
CEDAAR
SME
Cedaar Textile Ltd.
Textiles
match 87
4
—
-124.0%
—
OVERVALUED
SILKY
SME
Silky Overseas Ltd.
Textiles
match 87
70
8.7
16.2%
+73%
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
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-08-20T07:48:46.910Z
Management commentary snapshot
FY26 revenue declined 8.4% YoY to ₹142.5 Cr, driven by a slowdown in high-value retail projects and muted institutional capex. EBITDA margins compressed significantly from 10.3% to 2.1% due to rising costs and an unfavorable shift towards lower-margin industrial segment.
The company's core retail segment faced headwinds, leading to revenue decline and severe margin erosion. While management has identified issues and initiated corrective actions, including capacity expansion and product diversification, the turnaround hinges on successful execution and market recovery in H1 FY27.
Current business mix
Segmental Revenue Contribution (FY26)
Latest issuer-disclosed distribution across 5 reported categories.
Retail61.0%
Industrial30.0%
Government4.6%
Export1.8%
Other Misc2.0%
Growth engines
New Factory Expansion
New factory in Wada, Maharashtra, to be operational in 12-18 months, increasing revenue potential to ₹270-300 Cr.
Product Diversification
Expand existing product lines and launch value-added products targeting B2C & international markets.
Organized Retail Growth
India's retail market aims for $2T, requiring strong physical presence and store build-out, driving demand for fixtures.
Omnichannel & Tier-2/3 Expansion
Omnichannel integration and growing demand from Tier-2/3 cities are key drivers for retail expansion.
Capacity and execution
Wada Factory
New factory in Wada, Maharashtra, estimated ₹40 Cr capex in Phase 1, 1,20,000 Sq.ft area, operational in 12-18 months.
Thermoforming Facility
Added thermoforming facility for POSM products with 10 lakh sq. ft. annual installed capacity, strengthening in-house manufacturing.
Tailwinds
Shift to Organized Retail
Shift from mom-and-pop shops to chains & malls, benefiting organized players and increasing demand for store fit-outs.
Retail Boom in India
India is 4th globally in retail, with 4,700 new stores added in FY23, indicating strong market expansion.
Urbanization & Rising Incomes
Growing middle class and higher spending drive demand from Tier-2/3 cities, fueling retail expansion.
Infrastructure & Policy Support
Mall growth, Smart Cities initiatives, FDI & REITs are attracting global retailers, supporting market expansion.
Headwinds
Slowdown in Retail Project Orders
Slowdown in high-value retail project orders in FY26 led to revenue decline.
Muted Institutional Capex
Muted capex by key institutional clients impacted order book conversion.
Rising Material & Operating Costs
Higher cost of goods sold and a 30.5% rise in employee costs compressed margins in FY26.
Unfavorable Segment Mix Shift
Shift to lower-margin Industrial segment (30% of revenue) from Retail & Government (65.8%) eroded margins.
Risk radar
Earnings Fluctuations
Forward-looking statements are subject to fluctuations in earnings, impacting financial performance.
Competitive Pressures
The company faces competitive pressures from both domestic and international players.
Economic Conditions
Economic conditions in India and abroad can cause actual results to differ materially from expectations.
Time and Cost Overruns
Projects are subject to risks of time and cost overruns on contracts.
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 presentation explicitly provides and highlights year-on-year comparisons for financial results (FY26 vs FY25, H2 FY26 vs H2 FY25) and key operational metrics, indicating a focus on annual performance trends.
Sector KPIs management disclosed
Revenue From Operations
₹142.5 Cr in FY26, down 8.4% YoY from ₹155.6 Cr in FY25.
EBITDA Margin
Compressed from 10.3% in FY25 to 2.1% in FY26.
Cost of Material Consumed
Increased to 60.2% of revenue from operations in FY26.
Employee Benefits Expense
Rose 30.5% YoY in FY26.
Management forward view
Corrective Actions Underway
Corrective actions are underway; benefits are expected from H1 FY27.
New Factory Impact
Post-expansion, expected revenue ₹270-300 Cr (~70% increase) with PAT Margin 7-7.5%.
Growth Target
Targeting 15-20% YoY growth, with potential to double current performance post full-scale operations.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth | FY26: -8.4% YoY | Return to positive growth, especially in the retail segment, in H1 FY27. |
| EBITDA Margin | FY26: 2.1% | Improvement towards historical levels (10.3% in FY25) and management's target of 7-7.5% PAT margin post-expansion. |
| New Factory Commissioning | Timeline: 12-18 months | On-schedule commissioning and ramp-up of the Wada facility to achieve stated revenue potential. |
| Segment Mix | FY26: Industrial 30%, Retail 61% | Reversal of unfavorable mix shift, with higher contribution from the higher-margin Retail segment. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
54Limited 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 13th percentile of the scored universe and 16th percentile within Consumer. Main check: financial discipline is weak at 22/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
5 docs text-extracted · 1 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
13th percentile
overall median 67 · Consumer: 16th pctile, median 66 · SME: 14th pctile, median 64
Evidence depth
Financial-only
5 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
62
acceptable · profit to cash conversion
Balance sheet
59
watch · leverage and solvency
Discipline
22
weak · capital discipline
Results
31
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 58.9%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 16%.
Trust risks
- ▸Operating cash flow is negative at ₹-7 Cr.
- ▸3 latest quarters had PAT decline worse than 25% YoY.
- ▸Interest coverage is 0.3x.
- ▸ROCE is low at -0.3%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Naman Industries Proxima 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
Annual reportMar 2026
Sep 2026 · Updates 4 Sep - AGM scheduled for 25 September 2026; annual report and notice web-links shared.
Source: Nse
Annual reportMar 2026
Sep 2026 · Copy of Newspaper Publication 1 Sep - 16th AGM on 25 September 2026 via VC/OAVM; notice and annual report sent electronically.
Source: Nse
Investor presentationNov 2025
Nov 2025 · PPT
Source: Nse
Investor presentationSep 2025
Sep 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: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.