Ishan Internat. (ISHAN)

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

Key Financials

Strengths

• Promoter holding at 48.32% shows significant skin in the game.
• Price of ₹0.65 is closer to the 52-week low of ₹0.45 than the high of ₹0.95, suggesting much bad news may already be priced in.
• Latest quarter sales of ₹13 Cr against a ₹14 Cr market cap implies a very low revenue multiple on an annualized run-rate basis.

Concerns

• Sales growth of -55.29% and profit growth of -76.92% show collapsing demand and earning power.
• Latest quarter net profit is ₹0 Cr, leaving no earnings to support the valuation.
• Piotroski F-Score of 3/9 signals weak financial health.
• Book value, ROE, and debt/equity are unavailable, so asset-based margin of safety cannot be assessed.

AI Analysis

At ₹0.65, Ishan Internat. wears a seductive low price, but price is not value. The numbers tell a deteriorating story. Sales have fallen 55%, profits are down 77%, and the latest quarter delivers zero net profit. A Piotroski score of 3/9 reinforces a picture of financial stress. ROCE of only 2.88% is far below what I would expect from a durable enterprise; my requirement is a return on capital that comfortably exceeds prevailing interest rates. I cannot compute book value, ROE, or debt/equity because the data is simply unavailable. Graham taught us to demand a margin of safety built on measurable assets and earning power. Here, earning power has collapsed and asset backing is invisible. The promoter holds 48.32%, which at least aligns owners and management, and the market cap of ₹14 Cr against latest-quarter sales of ₹13 Cr looks optically cheap. But a cheap-looking company can be a value trap when revenues are halving and profits are nonexistent. There is no dividend to reward me while waiting, and with the stock trading near the lower end of its 52-week range, the decline itself is the only certainty. I cannot classify this as a durable growth business or a stalwart. It is a possible turnaround, but turnaround investing requires a visible catalyst and a solid balance sheet; neither is evident from these figures. Without book value and debt clarity, I cannot estimate liquidation value. In Buffett's words, it is far better to buy a wonderful company at a fair price than a fair company at a wonderful price. Ishan may be interesting only as a deep speculation, not as an investment. I would keep it on the watchlist, not in the portfolio.

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