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Patspin India financials: balance sheet, profit and loss, cash flow

BSE: 514326Textiles & ApparelsSmall Cap

Patspin India Ltd. · Face value ₹10 · Listed Feb 1994
Last close ₹5.95up ₹0.26 (4.57%)

Share price at the BSE close on 29 Oct 2026. Previous close ₹5.69.

29 Oct: open ₹5.99, high ₹6.39, low ₹5.80

52-week range of traded prices to 29 Oct 2026
₹5.14Low, 24 Sep 2026₹10.20High, 30 Oct 2025
Market cap
₹18 Cr4,048th largest listed
P/E
Lossover the last 12 months
P/B
Net worth zero or below
Dividend yield
Nonein the last 12 months
ROE
Net worth zero or below
ROCE
−16.0%
Debt to equity
Net worth zero or below
Volume, BSE
2,653

Patspin India's financial statements for the 10 years to Mar 2026, standalone: the listed company alone, without its subsidiaries, with the twelve months to Jun 2026 after them.

10 years at a glance

₹ crore, years to March.Patspin India annual reports

Revenue, net profit and borrowings, ₹ crore

  • Revenue
  • Net profit
  • Borrowings
  • Loss
53210Mar 17523−4.3Mar 18549−2.4181Mar 19393−24148Mar 20148−38164Mar 21143−13163Mar 2275−1877Mar 2344−6.773Mar 2447−9.881Mar 2547−1181Mar 26
Peak revenue ₹549 Cr, year to Mar 2019; lowest ₹44 Cr, year to Mar 2024A loss in 9 of the 10 years shown

Operating and net margin, per cent

  • Operating margin
  • Net margin
13.5%−25.6%10.1%5.8%6.2%−0.2%−2.8%13.5%−10.8%−8.8%−1.9%−6.3%1.9%−0.8%−0.4%−6.1%−25.6%−9.3%−24.2%−15.2%−20.7%−24.5%Mar 17Mar 19Mar 21Mar 23Mar 25Mar 26

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out.

Results for the year to Mar 2026

Standalone: the listed company alone, without its subsidiaries. ₹ crore.

From revenue to net profit

  1. Revenue47
  2. Materials and goods−1.4
  3. Employee costs−19
  4. Other expenses−29
  5. Operating profit−3.0
  6. Depreciation−2.9
  7. Other income+2.1
  8. One-off items−1.0
  9. Finance costs−6.6
  10. Profit before tax−11
  11. Tax0.0
  12. Net profit−11

What the company owns

  • Plant, investments and other assets₹79 Cr
  • Inventory₹0 Cr
  • Cash and bank₹0 Cr
  • Receivables₹0 Cr

What pays for it: net worth and liabilities

  • Borrowings₹81 Cr
  • Owed to suppliers₹16 Cr

Profit and loss

Standalone, ₹ crore, years to March. The last column is the twelve months to Jun 2026, the latest four quarters added.Patspin India quarterly results

₹ croreMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Filed 29 MayMar 2024Mar 2025Mar 2026Filed 26 MayJun 2026Twelve monthsFiled 10 Aug
Revenue from operations5325235493931481437544474746
4784925143941521248348484949
Materials and goods bought3743813972938038266511
Employee costs3435363428322217191919
Other expenses7076816644533424252929
Operating profit before depreciation543134−1−419−8−4−1−3−3
Operating margin10.1%5.8%6.2%−0.2%−2.8%13.5%−10.8%−8.8%−1.9%−6.3%−6.3%
Materials, % of revenue70.4%72.8%72.4%74.6%54.1%26.8%35.1%13.8%9.7%2.9%3.2%
Employee costs, % of revenue6.4%6.8%6.5%8.7%18.9%22.7%29.7%39.6%39.4%40.5%40.5%
Other expenses, % of revenue13.1%14.6%14.8%16.8%29.8%37.1%46.0%55.3%52.8%62.9%62.5%
Depreciation and amortisation12101010101073333
Operating profit after depreciation422024−11−149−15−7−4−6−6
Other income11320006222
Finance costs353329272423118777
Profit before one-off items and tax8−12−3−36−38−13−25−9−10−10−11
One-off items590000720−1−1
Profit before tax13−3−3−36−38−13−18−7−10−11−12
32−1−120000000
Net profit10−4−2−24−38−13−18−7−10−11−12
Other comprehensive income––−1−1−2000000
Total comprehensive income––−4−25−40−13−19−7−10−11−11
Net margin1.9%−0.8%−0.4%−6.1%−25.6%−9.3%−24.2%−15.2%−20.7%−24.5%−25.0%
Earlier years, Mar 2008 to Mar 2016
₹ croreMar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016
Revenue from operations156212304424426462610554496
142207269345415437551521448
Materials and goods bought100142202275333354446413338
Operating profit before depreciation14535791125583448
Operating margin9.3%2.5%11.4%18.5%2.7%5.4%9.5%6.1%9.7%
Depreciation and amortisation131920202020191212
Operating profit after depreciation2−131559−95392136
Other income0–––11111
Finance costs102321202829353137
One-off items−1––––––––
Profit before tax−9−36−639−36−236−81
Tax−5−10−214−13−71−20
Net profit−4−26−425−24−164−61
Net margin−2.6%−12.3%−1.3%6.0%−5.5%−3.4%0.7%−1.2%0.2%
Standalone, ₹ crore, years to March.

Balance sheet

Standalone, ₹ crore, at 31 March.

₹ croreMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Filed 29 MayMar 2024Mar 2025Mar 2026Filed 26 May
5834−6−18−17−24−34−45
Share capital3131313131313131
Reserves273−37−49−48−55−65−76
18114816416377738181
21817619320152555677
7161422363575947
Total assets34827022820698888279
20320419218688807976
14566362010833
Net debt17014216116375738181
Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Standalone, ₹ crore, years to March.

₹ croreMar 2021Mar 2022Mar 2023Filed 29 MayMar 2024Mar 2025Mar 2026Filed 26 May
−1.4−0.96.27.31.4−0.3
−1.10.68.57.40.1−0.1
10.3−14.010.73.4−0.51.8
Receivables13.92.46.41.80.00.0
Inventories11.66.44.53.30.00.0
Payables−22.0−20.0−3.6−2.7−2.01.7
Other working capital6.7−2.83.51.01.60.2
Tax paid−0.3−1.5−2.00.01.8−0.3
Capital spending0.00.00.20.00.90.0
Free cash flow−1.4−0.96.07.30.6−0.3
1.1−0.291.83.3−0.10.7
1.1−0.6−97.2−11.2−1.3−0.6
Dividends paid0.00.00.00.00.00.0
Shares bought back0.00.00.00.00.00.0
Shares issued0.00.00.00.00.00.0
Net change in cash0.8−1.70.8−0.70.0−0.2
Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Per share

Standalone, ₹ per share, years to March.Patspin India dividend history

₹ per shareMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Filed 29 MayMar 2024Mar 2025Mar 2026Filed 26 May
Earnings per share₹3.12––−₹7.88−₹12.39−₹4.44−₹5.94−₹2.15−₹3.17−₹3.69
Diluted earnings per share₹3.12––−₹7.88−₹12.39−₹4.44−₹5.94−₹2.02−₹2.97−₹3.46
Book value per share––₹18.84₹10.86−₹2.09−₹5.85−₹5.59−₹7.72−₹10.95−₹14.55
Shareholder yield––––0.0%0.0%0.0%0.0%0.0%0.0%
Market cap at the year end (₹ crore)50.240.832.07.414.730.929.134.728.920.0
Earnings per share is left blank for the years to Mar 2018 and Mar 2019: the earnings per share stated does not match any profit the filing states over the shares in issue, and the share count barely moved during the period.

Ratios

Standalone, years to March.Patspin India PE ratio and valuation

RatioMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Filed 29 MayMar 2024Mar 2025Mar 2026Filed 26 May
Revenue growth7.1%−1.6%4.9%−28.3%−62.3%−3.2%−47.8%−41.5%8.0%−1.7%
Operating profit growth11.6%−43.3%11.7%–––––––
Net profit growth1,183.3%–––––––––
––−4.1%−52.3%−280.2%108.9%102.6%32.3%33.9%28.9%
–––−48.3 pts−227.9 pts389.1 pts−6.2 pts−70.3 pts1.6 pts−5.0 pts
From the net margin–––−53.5 pts−167.2 pts178.3 pts174.0 pts−38.4 pts11.8 pts6.3 pts
From asset turnover–––11.1 pts116.8 pts−11.3 pts−71.8 pts−2.8 pts8.0 pts1.6 pts
From borrowing–––−5.9 pts−177.6 pts222.1 pts−108.4 pts−29.1 pts−18.2 pts−12.9 pts
Return on capital employed––10.0%−6.2%−9.1%6.4%−25.6%−14.1%−8.2%−16.2%
Interest cover1.20.60.8––0.4––––
Debt to equity––3.104.42––––––
Receivable days––392326219000
Inventory days––61326575475727
Payable days––94992612172669901,1444,324
Cash conversion cycle, days––6−44−169−120−210−984−1,137−4,296
Working capital days––18−24−81−93−134−225−206−268
Asset turnover––1.581.270.590.660.490.470.560.58
Assets per rupee of net worth––5.976.7418.39−17.68−8.60−4.52−2.95−2.04
Sales per rupee of plant––2.742.060.830.861.090.680.760.78
Capital spending to depreciation––––0.000.000.030.010.290.00
Plant being built, % of plant in use––0.0%0.0%0.0%0.0%0.1%0.0%0.0%0.0%
Interest cover is left blank for the years to Mar 2020, Mar 2021, Mar 2023, Mar 2024, Mar 2025 and Mar 2026: operating profit after depreciation is a loss, and a loss covers no interest bill. Debt to equity is left blank for the years to Mar 2021, Mar 2022, Mar 2023, Mar 2024, Mar 2025 and Mar 2026: net worth is below zero, so there is no shareholders' money to set the borrowings against. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2026.

Return on assets, latest year
−14.2%
Measure10 years5 years3 years
Revenue growth, yearly rate−21.1%−20.7%−14.7%
Return on equity, average–61.3%31.7%
Return on capital employed, average–−11.6%−12.8%
Operating margin, average0.5%−2.9%−5.7%
Net margin, average−12.5%−18.8%−20.1%
Asset turnover, average–0.550.54
Cash conversion cycle, days, average–−1,350−2,139

Where the cash came from and went

Standalone: the listed company alone, without its subsidiaries. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore5 years3 yearsLatest year
Cash from operations1480
Cash from investing9541
Cash from financing−111−13−1
Capital spending110
Dividends paid000
Shares bought back000
Shares issued for cash000
Borrowings raised100
Borrowings repaid970

Accounting checks

Standalone, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

CheckMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9––––464755
Altman Z-scorePublished threshold 1.81––1.750.89−0.57−0.46−0.55−0.79−1.26−1.98
Beneish M-scorePublished threshold −1.78––––−4.07−3.06−4.04−4.60−3.28−3.24
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets––––−15.11−5.65−76.38−18.51−13.05−14.67
Receivables growth less revenue growthOur threshold 0 percentage points–––−29.325.55−19.23−29.86−55.29−24.631.71
Inventory growth less cost-of-goods growthOur threshold 0 percentage points–––−34.5727.857.48−25.71−20.7136.5581.61
Other current assets growth less revenue growthOur threshold 5 per cent of revenue–––−0.25−0.31−3.33−2.0013.02−11.220.56
Assets under construction, years of additionsOur threshold 2 years of additions–––0.08––––0.000.00
Effective tax ratePublished threshold 17.16 per cent23.76–––––––––
A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

DateAgencyBorrowing ratedRatingOutlookAmount, ₹ Cr
15 May 2026CARE Ratings LimitedFund-based - LT-Term LoanLong-term scaleCARE D; ISSUER NOT COOPERATING*Review, Re-affirm68.36
15 May 2026CARE Ratings LimitedFund-based - ST-EPC/PSCShort-term scaleCARE D; ISSUER NOT COOPERATING*Review, Re-affirm52.05
15 May 2026CARE Ratings LimitedFund-based - ST-Packing Credit in Indian rupeeShort-term scaleCARE D; ISSUER NOT COOPERATING*Review, Re-affirm29
15 May 2026CARE Ratings LimitedNon-fund-based - LT/ ST-BG/LCLong and short-term scalesCARE D / CARE D; ISSUER NOT COOPERATING*Review, Re-affirm7
15 May 2026CARE Ratings LimitedNon-fund-based - ST-Bank GuaranteeShort-term scaleCARE D; ISSUER NOT COOPERATING*Review, Re-affirm4.50
15 May 2026CARE Ratings LimitedNon-fund-based - ST-Letter of creditShort-term scaleCARE D; ISSUER NOT COOPERATING*Review, Re-affirm58.25
The latest rating on each borrowing. The agency's name opens its reasoning for the rating.