E-Land Apparel (532820)

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

Key Financials

Strengths

• Market cap of ₹39 Cr is far below latest quarterly sales of ₹66 Cr, implying a very low price-to-sales multiple (~0.15x annualized).
• ROE of 6.06% (as reported) suggests some positive equity base, unlike many deeply distressed companies.
• Stock trades at ₹8.16, a ~70% discount to its 52-week high of ₹26.84, indicating expectations are already very low.

Concerns

• Latest quarter net loss of ₹12 Cr on sales of ₹66 Cr shows severe margin compression or operational distress.
• Profit growth of -498.72% and Piotroski F-score of 2/9 point to rapidly worsening financial health.
• Sales growth is negative (-1.87%) and ROCE is 0.00%, meaning the company is not generating any meaningful return on capital.
• No dividend, no promoter holding data, and missing book value/debt figures make it impossible to assess asset protection or insider alignment.

AI Analysis

When I look at E-Land Apparel, I see the classic cigar butt — but one that's already been smoked halfway. The market cap is just ₹39 Cr, while the latest quarter alone brought in ₹66 Cr of sales. That's an annualized price-to-sales ratio of roughly 0.15, which would be mouth-watering for a healthy business. But this isn't healthy. The latest quarter showed a net loss of ₹12 Cr, and profit growth has collapsed by nearly 500%. The Piotroski F-score of 2 out of 9 is a screaming red flag — this is a company with deteriorating fundamentals, poor liquidity, and likely stress in its operations. As Graham said, price is what you pay, value is what you get. At ₹8.16, the market has already marked the stock down from a 52-week high of ₹26.84, but that doesn't make it cheap. It makes it risky. The ROE of 6.06% seems inconsistent with the losses, and with ROCE at zero and no clarity on debt or book value, I cannot in good conscience call this an investment. It's a speculation. The business lacks a moat: it's in a commoditized textile industry, with declining sales (-1.87%) and no dividend to compensate shareholders while they wait. I'd need to see concrete evidence of a turnaround — stable sales, narrowing losses, and a credible plan for the balance sheet — before I'd put a rupee here. Until then, this remains a 'too hard' pile for me.

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