MILGREY FIN.&INV (511018)

Score breakdown: P/E: 0/3 · ROCE: 0/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

Strengths

• Tangible book value of ₹16.49 per share gives a positive net-asset baseline, even though the price is far above it.
• Piotroski F-Score of 6/9 suggests the last reported fiscal had reasonable profitability and operational efficiency signals.
• Reported profit growth of 85.71% and a PEG of 1.27 would be attractive if the earnings were sustainable; they are not yet proven.
• At ₹69.41, the stock trades about 49% below its 52-week high of ₹136, removing some speculative froth.

Concerns

• Latest quarter shows ₹0 sales and ₹0 net profit; there is no current revenue or earnings to anchor a valuation.
• P/E of 108.54 and P/B of 4.21 are too high for a company with ROCE of only 1.22%.
• The 1,844% ROE is an extreme outlier and likely a function of a tiny equity base or one-off earnings, not a reliable indicator of moat.
• Zero dividend yield and promoter holding N/A leave minority shareholders without cash income or governance visibility.

AI Analysis

Let me start by admitting I do not like what I see. At ₹69.41, Milgrey Fin & Inv carries a market cap of ₹150 crore and a P/E of 108.54. The latest quarter has zero sales and zero net profit. You cannot value a business on an earnings number that has already disappeared. The reported 1,844% ROE catches the eye, but a sensible investor must ask: what is actually compounding? ROCE is 1.22%, book value is ₹16.49, and the price is 4.21 times book. That is not a Graham bargain. The 85.71% profit growth sounds exciting, but with 0% sales growth and no current-quarter profit, the growth is likely from a small, non-repeatable base. Graham would say price is what you pay, value is what you get; here I am paying a high multiple for a doubtful stream. Dividend yield is zero, so there is no return while I wait. Promoter holding is not disclosed, which alone should make a cautious retail investor pause. The Piotroski score of 6 out of 9 gives a little comfort on the last reported financials, but the balance between profit and cash is not visible. The stock has swung from ₹38.16 to ₹136.00; a wide range like that is a sign of speculation, not a smooth compounding machine. I would not call this a quality business with a moat. It is a possible turnaround or trading vehicle. Until I see meaningful revenue, a sensible ROCE, and honest evidence of how the reported profit was earned and where it went, Milgrey belongs in the too-hard pile.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer