Is Carnation Industries Ltd (530609) a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Carnation Industries Ltd is a average quality company .

Is Carnation Industries Ltd (530609) undervalued or overvalued?

The key valuation ratios of Carnation Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Carnation Industries Ltd (530609) share price return in the past 10 years?

Carnation Industries Ltd share price has appreciated 6.8% annually (CAGR) over the past ten years.

Is Carnation Industries Ltd (530609) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Carnation Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

What is the share price of Carnation Industries Ltd (530609)?

Company share prices are keep on changing according to the market conditions. The current trading price of Carnation Industries Ltd (530609) on 13-Apr-2026 16:59:59 at 16:59 is 84.45.

What is the P/E ratio of Carnation Industries?

The latest standalone P/E ratio of Carnation Industries as of 13-Apr-2026 is 0.00.

What is the P/B ratio of Carnation Industries Ltd (530609)?

The latest standalone P/B ratio of Carnation Industries Ltd (530609) as of 13-Apr-2026 is 39.25.

What is the 52-week high and low of Carnation Industries Ltd (530609)?

The 52-week high of Carnation Industries Ltd (530609) is Rs. 86.43 and the 52-week low is Rs. 21.07.

Carnation Industries Ltd (530609) Share Analysis – Cycle Position, Quality & Valuation Zone & DeciZen Rating

Name: Carnation Industries Ltd (530609)
Brand: Carnation Industries

Key Metrics

Market Cap

₹29 Cr.

P/E Ratio

0.00

Price to Book (P/B)

39.25

Price to Sales (P/S)

120.64

EV/EBITDA

-49.23

Return on Capital Employed (ROCE)

399.09%

Current Price

₹84.5

Return on Equity (ROE)

0.00%

Return on Assets (ROA)

78.89%

Operating Profit Margin

Net Profit Margin

INF%

Gross Profit Margin

Book Value per Share

₹2.2

Sales Growth (YoY)

NA%

Sales Growth (3 Years)

NA%

Operating Profit Growth (1 Year)

NA%

Operating Profit Growth (3 Years)

N/A%

Net Profit Growth (1 Year)

NA%

52-Week Low / High

₹21 / 86

Net Profit Growth (3 Years)

N/A%

Dividend Yield

0.00%

Promoter Holding

89.98%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Revenue growth of Carnation Industries Ltd?

Carnation Industries Ltd revenue growth is 0% for FY-2025 , which is above its 5 year CAGR of -100% , indicating faster growth.

Q.1 Promoter shareholding and pledge status of Carnation Industries Ltd?

Promoters hold 89.98% of the Carnation Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of Carnation Industries Ltd vs industry peers?

Carnation Industries Ltd revenue CAGR is -100.00% , compared to the industry median CAGR of 7.48% , indicating slower growth and losing its market share.

Q.1 Which industry/sub-sector does Carnation Industries Ltd belong to?

Carnation Industries Ltd belongs to the Automobiles sector, operating specifically within the Castings/Forgings segment.

Q.1 Stock return of Carnation Industries Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 6.8% based on the current price.

DeciZen - make an informed investing decision on Carnation Inds

Based on:

Data

M-Cap below 100cr DeciZen not available

Carnation Industries stock performance

Key Ratios

Is Carnation Industries Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	16.1%	10.3%	-5.3%	-9.1%	8.4%	-32.9%	32.1%	0%	0%	399.1%	-
Value Creation Index ⓘ	0.2	-0.3	-1.4	-1.7	-0.4	NA	NA	NA	NA	27.5	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	98.4	81.7	50.1	6.9	7.6	0	0	0	0	0	0
Sales YoY Gr.	-	-17%	-38.7%	-86.2%	9.7%	-100%	NA	NA	NA	NA	-
Adj EPS ⓘ	4.8	1.6	-18.4	-18	-35	-6	-2.2	-2.7	-1.4	4.1	-4
YoY Gr.	-	-66.3%	-1251.3%	NA	NA	NA	NA	NA	NA	NA	-
BVPS (₹) ⓘ	53	53.7	34.4	21.2	21.4	-1.3	-3.5	-7	-8.4	4.7	2.2
Adj Net Profit ⓘ	1.6	0.6	-6.4	-6.2	-12.1	-2.1	-0.8	-0.9	-0.5	1.4	-1
Cash Flow from Ops. ⓘ	2.9	8.5	5.4	4.9	4.6	-3.8	-7.8	-0	-0.1	-1	-
Debt/CF from Ops. ⓘ	12.5	4	6	5.6	0.3	-0.4	-0.2	-42.5	-37.9	-0.1	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	-100%	-100%	NA	NA
Adj EPS ⓘ	-1.6%	NA	NA	NA
BVPSⓘ	-23.6%	-26.1%	NA	NA
Share Price	6.8%	85%	167.7%	501.1%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	9.5	3	-41.8	-64.9	-164.2	-59.6	91.7	51.3	18.6	-223.7	-116.2
Op. Profit Mgn % ⓘ	8.9	4.3	-9.4	-72.6	-205.1	0	0	0	0	0	12.4
Net Profit Mgn % ⓘ	1.7	0.7	-12.7	-90.1	-159.2	0	0	0	0	0	-575.2
Debt to Equity ⓘ	2	1.8	2.7	3.8	0.2	-3.4	-1.3	-0.7	-0.7	0.1	-
Working Cap Days ⓘ	269	325	476	2,533	1,648	0	0	0	0	0	0
Cash Conv. Cycle ⓘ	91	132	195	1,324	673	0	0	0	0	0	0

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	-4	-
TTM Sales (₹ Cr.)	0.2	-
BVPS (₹) ⓘ	2.2	-
Reserves (₹ Cr.) ⓘ	-3	-
P/BV ⓘ	39.25	-
PE ⓘ	0.00	-

From the Market
52 Week Low / High (₹)	21.07 / 86.43
All Time Low / High (₹)	3.25 / 86.43
Market Cap (₹ Cr.)	29.2
Equity (₹ Cr.)	3.5
Face Value (₹)	10
Industry PE ⓘ	41.1

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Carnation Inds - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	98.42	81.73	50.11	6.92	7.59	0	0	0	0	0
Operating Expenses ⓘ +	89.65	78.69	55.06	11.95	23.19	1.69	1.56	0.52	0.34	0.83
Manufacturing Costs	22.09	20.57	12.38	2.79	2.87	0.03	0.05	0.01	0	0
Material Costs	44.26	36.47	26.76	4.60	3.83	0	0	0	0	0
Employee Cost	12.62	12.85	10.01	2.74	1.63	0.56	0.36	0.20	0.05	0.08
Other Costs ⓘ	10.68	8.80	5.92	1.82	14.86	1.10	1.15	0.30	0.30	0.76
Operating Profit ⓘ	8.77	3.04	-4.95	-5.03	-15.60	-1.69	-1.56	-0.52	-0.34	-0.83
Operating Profit Margin (%)	8.9%	3.7%	-9.9%	-72.7%	-205.0%	-	-	-	-	-
Other Income ⓘ +	1.09	3.68	3.60	2.46	18.02	0.09	1.81	0.03	0	2.34
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Interest ⓘ	5.46	5.29	4.03	1.03	1.94	0.44	0.29	0.23	0.11	0
Depreciation ⓘ	1.38	1.20	1.21	1.01	0.58	0.02	0.02	0.02	0.02	0.01
Profit Before Tax ⓘ	3.01	0.23	-6.60	-4.61	-0.10	-2.07	-0.05	-0.73	-0.47	1.49
Tax ⓘ	0.67	-0.04	-0.06	0.07	-0.44	0	0.12	0.17	0.02	0.07
Profit After Tax	2.34	0.27	-6.53	-4.68	0.34	-2.07	-0.17	-0.91	-0.49	1.42
PAT Margin (%)	2.4%	0.3%	-13.0%	-67.7%	4.5%	-	-	-	-	-
Adjusted EPS (₹)	6.8	0.8	-18.9	-13.6	1.0	-6.0	-0.5	-2.6	-1.4	4.1
Dividend Payout Ratio (%)	10%	51%	0%	0%	0%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	18.32	18.57	11.88	7.34	7.39	-0.45	-1.21	-2.41	-2.90	1.63
Share Capital ⓘ	3.46	3.46	3.46	3.46	3.46	3.46	3.46	3.46	3.46	3.46
Reserves ⓘ	14.86	15.11	8.43	3.88	3.93	-3.91	-4.66	-5.87	-6.36	-1.83
Debt +	36.26	33.74	32.12	27.39	1.32	1.53	1.48	1.75	1.92	0.11
Long Term Debt	0	0	1.51	1.41	1.32	1.53	1.48	0	0	0
Short Term Debt	36.26	33.74	30.61	25.97	0	0	0	1.75	1.92	0.11
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	29.01	30.91	21.15	18.27	16.11	10.46	0.49	0.63	0.98	0.22
Others Liabilities ⓘ	3.20	2.64	4.28	3.44	3.55	2.74	1.49	1.37	1.31	0.35
Total Liabilities ⓘ	86.79	85.85	69.44	56.44	28.37	14.26	2.26	1.34	1.30	2.31
Fixed Assets
Net Fixed Assets ⓘ +	12.29	11.75	10.99	10.03	3.04	1.06	0.94	0.90	0.88	0
Gross Block	31.11	12.94	13.40	13.43	3.58	1.26	1.12	1.07	1.07	0
Accumulated Depreciation	18.83	1.19	2.41	3.41	0.54	0.20	0.18	0.17	0.18	0
CWIP ⓘ	0	0.32	0.63	0.63	0	0	0	0	0	0
Investments ⓘ	0	0.05	0.03	0.03	0.01	0.01	0.01	0	0	0
Inventories	7.85	8.28	4.07	1.16	0.77	0.06	0	0	0	0
Trade Receivables	54.28	53	42.52	36.89	18.61	0.63	0.53	0	0	0
Cash Equivalents ⓘ	1.95	0.48	0.37	0.29	0.11	7.09	0.09	0.02	0.02	0.92
Others Assets ⓘ	10.42	11.97	10.83	7.41	5.83	5.42	0.69	0.42	0.40	1.39
Total Assets ⓘ	86.79	85.85	69.44	56.44	28.37	14.26	2.26	1.34	1.30	2.31

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	2.91	8.54	5.35	4.91	4.60	-3.77	-7.79	-0.04	-0.05	-1.01
PBT ⓘ	3.01	0.23	-6.60	-4.61	-0.10	-7.95	-0.64	-1.05	-0.47	1.49
Adjustment ⓘ	5.30	6.29	5.19	1.71	-14.17	-9.11	-0.55	0.51	0.13	-0.49
Changes in Working Capital ⓘ	-4.91	2.82	6.77	7.52	19.04	13.32	-6.78	0.49	0.29	-2.02
Tax Paid ⓘ	-0.49	-0.80	-0.01	0.29	-0.17	-0.03	0.17	0.01	0	0
Cash Flow From Investing Activity ⓘ +	-0.60	-0.95	0.30	0.83	23.64	11.12	1.02	0.06	0	0.12
Capex	-0.61	-0.96	-0.69	0.50	23.24	11.13	1.13	0.05	0	0
Net Investments	0	-0.13	0.90	0.31	0.21	0.01	0.01	0.01	0	0
Others ⓘ	0.01	0.13	0.09	0.03	0.19	-0.01	-0.12	0.01	0	0.12
Cash Flow From Financing Activity ⓘ +	-2.44	-8.26	-5.54	-5.78	-28.21	-0.36	-0.22	-0.09	0.05	1.80
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-0.22	-0.05	1.62	-0.10	-0.10	0.10	-0.05	-1.48	0	0
Interest Paid ⓘ	-3.89	-5.40	-3.86	-1.03	-2.10	-0.46	-0.27	-0.25	-0.12	0
Dividend Paid ⓘ	-0.21	-0.29	-0.17	-0	-0.01	-0.01	-0.01	-0.01	0	0
Others ⓘ	1.87	-2.52	-3.13	-4.64	-26	-0	0.11	1.64	0.17	1.80
Net Cash Flow ⓘ	-0.13	-0.68	0.12	-0.03	0.03	6.99	-6.99	-0.07	-0	0.90

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	13.52	1.47	-42.91	-48.75	4.64	N/A	N/A	N/A	N/A	0
ROCE (%)	16.06	10.32	-5.33	-9.07	8.44	N/A	N/A	N/A	N/A	399.09
Asset Turnover Ratio	1.13	0.95	0.65	0.12	0.18	0	0	0	0	0
PAT to CFO Conversion(x)	1.24	31.63	N/A	N/A	13.53	N/A	N/A	N/A	N/A	-0.71
Working Capital Days
Receivable Days	195	239	348	1,956	1,295	0	0	0	0	0
Inventory Days	34	36	45	129	45	0	0	0	0	0
Payable Days	259	300	355	1,566	1,636	0	0	0	0	0

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Carnation Industries Ltd FAQs

The current trading price of Carnation Inds on 13-Apr-2026 16:59 is ₹84.45.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2026 the market cap of Carnation Inds stood at ₹29.20 Cr

The latest P/E ratio of Carnation Inds as of 12-Apr-2026 is 0.00.

The latest P/B ratio of Carnation Inds as of 12-Apr-2026 is 39.25.

The 52-week high of Carnation Inds is ₹86.43 and the 52-week low is ₹21.07.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Carnation Inds is ₹0.24 ( Cr.) .

About Carnation Industries Ltd

Carnation Enterprise Pvt. Ltd. was established in 1982 by the combination of a few dynamic working men all successful in their respective fields, which later in 1995 changed the name to Carnation Industries Limited. The company starting off as a merchant exporter recorded a steady growth each year, the company went into manufacturing in the mid-80s and is running two grey iron foundries and ductile iron unit all in West Bengal. Both the grey iron production units and the ductile iron production unit are certified by SGS (India) Ltd. as per BS-EN-124 require for systems approval & specific product approvals.

Carnation is the country's first Conventional Grey Iron foundry to be certified ISO 9002 by KPMG (USA). Currently it holds the BS EN ISO 9001:2000 certificate from BSI (UK). UL Certification from Underwriters Laboratories Inc., USA.

Carnation has a professional set up backed by a group of highly experienced and Technically qualifed shop staff in different departments working under professional managers. They have a work force strength of 40 experienced personnel & a labour strength of over 400 persons.

Product development, technology upgradation and providing more for the value of money are Carnationâ€™s forte.

Carnation has established itself as one of the top exporters of castings from India and it takes the toil and sweat of the whole team ably supported by juniors and the labour force to keep Carnation at top.

Product range of the company includes:

Ductile & Grey Iron Sanitary Castings e.g. Manholes, Catch basins Frames, Grates etc.
Ductile & Grey Iron valve boxes, meter boxes, surface boxes, Service boxes, Step Iron.
Ductile & Grey Iron Gulley Gratings, Syphones, Hydrants.
Ductile Iron Railway Castings.
Ductile Iron M J Fittings, Push on fittings, related products.
Ductile Iron glands, Flanges, anchor flanges, brackets.
Accessories for Fittings
Ductile Iron Industrial and auto casting.
Marine items e.g., mushroom anchors, naval anchors, river anchors, cleats of wide variety.
Counter weights for fork lifts.
MS, SS Bolts, Rubber gaskets, GRP Plates, Brass fittings, Industrial leather gloves.

Milestones & Achievements:

1985-86 - Export Excellence award in C I Sanitary castings
1986-87 - Highest Export performance award in C I Industrial castings
1987-88 - Highest Export performance in C I panel (ALL INDIA)
1988-89 - Top Exporters Shield (Eastern Region)
1989-90 - Highest Export performance award in C I Sanitary castings
1990-91 - Certificate of Export Excellence : Eastern Region
1991-92 - Certificate of Export Excellence : Eastern Region
1993-94 - Certificate of Export Excellence : Eastern Region
1994-95 - Certificate of Export Excellence : All India
1995-96 - Highest Export Performance in C I Panel (All India)
1996-97 - Certificate of Export Excellence : Eastern RegionAward of Export Excellence : FOSMI, Govt of W. Bengal
1997-98 - Trophy for Highest Exporter in the group : Eastern RegionNational Award to Outstanding Small Scale Entrepreneurs :Ministry of Industry Department of SSI & ARI Small Industries development Organisation, Government of India.
1998-99 - Award for Export Excellence from EEPC (ER) for highest export performance.
1999-2000 - Excellence Award For Excellence in Productivity, Quality, Innovation & Management by Institute of Economic Studies, New Delhi.
1999-2000 - All India Award for Export Excellence in Engineering Goods.
2001-2002 - Certificate of Export Excellence : Eastern RegionAward of Export Excellence : FOSMI, Govt of W. Bengal
2002-2003 - Certificate of Export Excellence : Eastern RegionAward of Export Excellence : FOSMI, Govt of W. Bengal
2003-2004 - All India Award for Export Excellence in recognition of their outstanding contribution to Engineering Exports during the year 2004 - 2005
2008-2009 - engineering Export Promotion Council Eastern Region award for Export Excellence
2010 - Quality Management System approved ISO 9001:2008 from BSI, LONDON
2011 - Expansion of the Ductile Iron plant at Uluberia
Approval received from Asphalt Paint NSF ANSI -61 from Underwriter Laboratory, US
2014 - Approval received from Lead Free Paint NSF-372 from Underwriter Laboratory, USA

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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
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Carnation Industries Ltd (530609) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Carnation Inds Share Price