Odigma Consultan (ODIGMA)

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

Key Financials

Strengths

• Book value of ₹21.84 per share provides a tangible asset cushion, with price at only 1.28 times book.
• ROCE is slightly positive at 0.97%, suggesting core operations are not entirely value-destructive despite losses.
• Small market cap of ₹80 Cr means a meaningful contract or business revival could move the needle.
• Stock trades well below its 52-week high of ₹56.09, reducing near-term sentiment risk.

Concerns

• Latest quarter shows a net loss of ₹1 Cr on sales of ₹10 Cr, with profit growth at -992.86%.
• Sales declined 6%, indicating the business is shrinking rather than growing.
• ROE is negative at -1.65% and Piotroski F-Score is weak at 3/9, pointing to poor financial health.
• Promoter holding is only 27.45%, and there is no dividend, limiting shareholder alignment and returns.

AI Analysis

Looking at Odigma Consultan, I start not with the stock price but with the economics of the business. The numbers are not encouraging. Sales have shrunk by 6%, and profit growth has collapsed by 992.86%, leaving a quarterly net loss of ₹1 Cr on sales of ₹10 Cr. A company that cannot earn money for its owners has no economic moat; it is simply consuming capital. Return on equity is minus 1.65%, and although ROCE is slightly positive at 0.97%, that is nowhere near a satisfactory return. The Piotroski F-Score of 3/9 also signals poor financial health, with strain in profitability and operations. Book value is ₹21.84 per share, and the stock trades at ₹28, roughly 1.28 times book. In Graham's language, I am not getting a deep margin of safety from assets. A 27.45% promoter holding is low; I want owners heavily invested alongside me. There is no dividend to reward patient shareholders. Can this be a turnaround? Possibly, but as Buffett says, turnaround is usually a euphemism for trouble. The latest quarter still shows red ink, and sales are falling. The 52-week range of ₹19.75 to ₹56.09 tells me this is a volatile, speculative small cap. If the company cannot demonstrate clear, improving returns, the market cap of ₹80 Cr is not justified merely because book value is close. I need evidence: a return to profit, stabilization of sales, and better capital allocation. Without those, this is an avoid. I would rather wait for a margin of safety and a proven record. Patience is a virtue; buying bad businesses cheap is still a bad idea.

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