Exim Routes (EXIMROUTES)

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

Key Financials

Strengths

• Sales growth of 97.83% shows strong top-line momentum, with latest quarter sales at ₹93 Cr.
• ROCE of 55.30% indicates highly efficient use of capital.
• Piotroski F-Score of 7/9 suggests decent financial health and low near-term distress risk.
• Promoter holding of 52.44% aligns promoters with minority shareholders.
• PEG of 0.68 implies the valuation may be reasonable if current growth continues.

Concerns

• Net profit margin is thin: only ₹3 Cr profit on ₹93 Cr quarterly sales, roughly 3.2%.
• Profit growth of 22.86% lags sales growth of 97.83%, suggesting margin compression or rising costs.
• P/E of 41.11 is expensive for current earnings, and zero dividend yield offers no margin of safety.
• Missing data on book value, ROE, and debt/equity makes a full balance sheet assessment impossible.

AI Analysis

When I look at Exim Routes, I start with the numbers, not the story. The company has grown sales by a staggering 97.83%, and latest quarter sales are ₹93 Cr. That is real activity. ROCE at 55.30% is extraordinary, and a Piotroski F-Score of 7/9 suggests decent financial health. But Graham taught me to look through the windshield, not the rearview mirror. The market is paying ₹120.20, or 41.11 times earnings, for a company earning only ₹3 Cr net profit on ₹93 Cr sales—a net margin of roughly 3%. Profit growth is just 22.86%, far below sales growth, which tells me this business is buying growth without yet converting it into bottom-line results. That is a red flag. The PEG of 0.68 is only comforting if profit growth accelerates; if margins stay thin, the P/E remains demanding. There is no dividend, so my return depends entirely on capital appreciation. I also cannot judge book value, ROE, or debt because the data is not available. In Graham's language, this is closer to speculation than investment unless the balance sheet confirms safety. Promoter holding at 52.44% gives some alignment, but high promoter holding can also mean poor minority governance if not watched. I would not dismiss it: a small paper company with 97% sales growth and 55% ROCE deserves a place on a watchlist. But I need to see margins improve, debt stay low, and profit growth catch up to sales. Until then, at 41 times earnings, I would rather wait at the sidelines and let the business prove it can convert revenue into durable earnings.

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