Easun Capital Ma (542906)

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

Key Financials

Strengths

• Trades at 0.98x book value, with price ₹43.16 against stated book value of ₹43.96
• Small market cap of ₹23 crore leaves room for potential capital restructuring or asset unlocking
• Balance-sheet asset backing provides at least a theoretical floor if book value is genuine
• No dividend requirement means cash can be retained for any future action

Concerns

• ROE of just 1.13% and ROCE of 0.55% show capital is earning far below risk-free rates
• Sales down 18.42% and profit down 21.74%, with latest quarter showing zero revenue and zero profit
• Piotroski F-Score of 3/9 points to weak financial health and operating efficiency
• No promoter holding information and no debt/equity data create serious transparency gaps

AI Analysis

At ₹43.16, I am being asked to pay almost exactly the stated book value of ₹43.96. That sounds like Graham's margin of safety, but the rest of the story does not support it. A P/E of 103 with earnings shrinking 21.74% tells me this is not a compounding machine. ROE is just 1.13%, and ROCE only 0.55% — the capital in this business is earning almost nothing. In fact, a fixed deposit would beat it. Sales fell 18.42%, and the latest quarter shows zero sales and zero profit. That is not a company generating value; it is a shell with a book value. This looks like an asset play, not a business. I would only be interested if the book value is real, liquid, and can be unlocked by management. But with a Piotroski F-Score of 3/9, the financial health is weak. There is no dividend, so shareholders receive no income while they wait. Market cap is just ₹23 crore, so there is a possibility that assets could be sold or capital returned, but I cannot rely on that hope. In Buffett's world, a fair price for a poor business can still be a bad investment. I would demand a meaningful discount to a conservatively calculated book value and evidence that management is serious about creating value. Without that, this is a pass.

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