Relic Tech. (511712)

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

Key Financials

Strengths

• Book value of ₹10.62 provides an asset reference; P/B of 1.48 is not an extreme premium.
• Piotroski F-Score of 5/9 shows some financial-health indicators are not uniformly negative.
• Reported profit growth of +52% indicates a positive swing, although from a near-zero base.
• Small ₹6 crore market cap means a modest absolute improvement in earnings could have a large per-share impact.

Concerns

• Latest quarter sales are ₹0 Cr and net profit is -₹0 Cr, indicating no clear operating earnings engine.
• ROCE of -15.87% and ROE of only 3.61% show weak capital allocation and value destruction.
• Sales growth of -31.91% reflects a shrinking top line.
• Current price of ₹15.75 is outside the stated 52-week range of ₹57.05-₹93.96; data inconsistency or a corporate action demands caution.
• No dividend, so investors receive no income while waiting.

AI Analysis

Let me start with the first test: can I understand the business? Relic Tech is listed as Other Financial Services, yet at ₹15.75 with a market cap of just ₹6 crore, this is a microcap in every sense. The price-to-earnings ratio is zero because there are no meaningful profits - latest quarter sales are ₹0 crore and net profit is -₹0 crore. Graham would say: don't buy hope at a premium. The balance sheet shows book value of ₹10.62, so I am paying 1.48 times book for a company earning only 3.61% on equity and destroying capital with a -15.87% ROCE. That is not a franchise; that is idle or misallocated capital. Sales growth is -31.91%, so the operating engine is shrinking. The reported profit growth of 52% is arithmetic noise from a near-zero base, not evidence of a turnaround. I also cannot reconcile the current price of ₹15.75 with the stated 52-week range of ₹57.05-₹93.96; that is a red flag that the data may be unreliable or a corporate action has occurred. With no dividend and a Piotroski F-Score of 5/9, financial health is mediocre at best. As a value investor, I need a margin of safety. At 1.48 times book, no earnings, negative ROCE, and declining sales, there is no margin of safety. A ₹6 crore market cap gives no institutional support and invites manipulation or illiquidity. This is not a business; it is a small shell with a booking. I will pass unless there is clear evidence of a new profitable line, honest disclosure, and management committed to return on capital. Extraordinary claims require extraordinary evidence.

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