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10 Yrs X-Ray 
Valuation 
Analyst Note 
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About
Fine-Line Circuits Ltd (517264)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517264 NSE: Electronics - Components | Small Cap | Fine-Line Circuits Share Price
₹66.99 1.99 (3.06%)
As on 29-Sep'26 14:26
Fine-Line Circuits Ltd (517264)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517264 NSE: Electronics - Components | Small Cap | Fine-Line Circuits Share Price
₹66.99 1.99 (3.06%)
As on 29-Sep'26 14:26
Key Metrics
Valuation Multiples
Market Cap
₹31 Cr.
Current Price
₹67
52-Week Low / High
₹48 / 107
TTM EPS
-
TTM Sales
-
Book Value per Share
-
P/E Ratio
Industry PE
50.7
Price to Book (P/B)
Price to Sales (P/S)
EV/EBITDA
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
%
Return on Capital Employed (ROCE)
%
Return on Assets (ROA)
%
Operating Profit Margin
0%
Net Profit Margin
-%
Gross Profit Margin
0%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
25.08%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
33.40%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
-
Equity
₹4.8 Cr.
Face Value
₹10
All Time Low / High
₹0.90 / 114.65
Check Before You Invest
M-Cap below 100cr DeciZen not available
Is Fine-Line Circuits Ltd a good quality company?
Fine-Line Circuits Ltd is a quality company, based on a multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Fine-Line Circuits Ltd performance compare with that of its Peers?
Revenue growth of Fine-Line Circuits Ltd vs industry peers?
Fine-Line Circuits Ltd revenue CAGR is %, compared to the industry median CAGR of 0%, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of Fine-Line Circuits Ltd?
Promoters hold 33.40% of the Fine-Line Circuits Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Fine-Line Circuits Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 21.2% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Fine-Line Circuits Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 5.5% | 6.8% | 7.2% | 6.8% | 4.5% | 4.5% | 11.9% | 4.6% | 4.1% | 4.4% | - |
| Value Creation Index ⓘ | -0.6 | -0.5 | -0.5 | -0.5 | -0.7 | -0.7 | -0.2 | -0.7 | -0.7 | -0.7 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 25.3 | 25.5 | 28.3 | 31.5 | 26.7 | 22.7 | 30.1 | 27.5 | 24.3 | 30.4 | 37 |
| Sales YoY Gr. | - | 0.9% | 10.9% | 11.4% | -15.4% | -15.1% | 32.7% | -8.7% | -11.6% | 25.1% | - |
| Adj EPS ⓘ | -0.6 | -0.2 | -0.6 | -0.3 | -0.8 | -0.3 | 1.3 | -0.5 | -0.2 | 0.1 | 0.3 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | -141.5% | NA | NA | - |
| BVPS (₹) ⓘ | 14.2 | 14.3 | 14.6 | 15.1 | 15.2 | 15.5 | 17.3 | 17.7 | 17.7 | 18.3 | 19.3 |
| Adj Net Profit ⓘ | -0.3 | -0.1 | -0.3 | -0.1 | -0.4 | -0.1 | 0.6 | -0.3 | -0.1 | 0.1 | 0 |
| Cash Flow from Ops. ⓘ | -0.2 | 0.2 | 1 | 0.1 | 1.7 | 2.4 | 1 | 0.1 | -1.9 | 1.9 | - |
| Debt/CF from Ops. ⓘ | -15.1 | 14.6 | 4.5 | 71.4 | 3.5 | 1.7 | 3.6 | 121.7 | -3.2 | 3.1 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 2.1% | 2.6% | 0.3% | 25.1% | ||||
| Adj EPS ⓘ | NA | NA | -52.4% | NA | ||||
| BVPSⓘ | 2.9% | 3.8% | 2% | 3.3% | ||||
| Share Price | 21.6% | 15.9% | -1.2% | -21.5% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -4.3 | -1.1 | -4.3 | -1.7 | -5.4 | -1.7 | 7.9 | -3.1 | -0.9 | 0.8 | 1.3 |
| Op. Profit Mgn % ⓘ | 2 | 4.6 | 3.5 | 3.9 | 3.3 | 3.5 | 4.8 | 2 | 3.5 | 3.5 | 4.6 |
| Net Profit Mgn % ⓘ | -1.1 | -0.3 | -1.1 | -0.4 | -1.5 | -0.6 | 2.1 | -0.9 | -0.3 | 0.2 | 0.3 |
| Debt to Equity ⓘ | 0.4 | 0.5 | 0.7 | 0.9 | 0.8 | 0.5 | 0.4 | 0.7 | 0.7 | 0.7 | - |
| Working Cap Days ⓘ | 131 | 141 | 138 | 139 | 163 | 170 | 129 | 153 | 195 | 166 | 84 |
| Cash Conv. Cycle ⓘ | 65 | 85 | 86 | 84 | 104 | 109 | 79 | 102 | 137 | 113 | 34 |
Valuation of Fine-Line Circuits - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
No data found!
No data found!
No data found!
No data found!
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Announcements
Fine-Line Circuits Ltd FAQs
The current trading price of Fine-Line Circuits on 29-Sep-2026 14:26 is ₹66.99.
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 28-Sep-2026 the market cap of Fine-Line Circuits stood at ₹31.25 Cr
The latest P/E ratio of Fine-Line Circuits as of 28-Sep-2026 is 260.4.
The latest P/B ratio of Fine-Line Circuits as of 28-Sep-2026 is 3.37.
The 52-week high of Fine-Line Circuits is ₹107.0 and the 52-week low is ₹48.22.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Fine-Line Circuits is ₹36.65 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Fine-Line Circuits Ltd is a below average quality company.
The key valuation ratios of Fine-Line Circuits Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Fine-Line Circuits Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Fine-Line Circuits Ltd
Fine-Line Circuits Ltd (FLCL) being a 100 % export oriented unit (EOU) has been continually maintaining its capabilities to cover standard design & complexities. Given the forthcoming lead free environment, FLCL offers a variety of lead free finishes.
The company's principal activity is to manufacture electronic components. It manufactures printed circuit boards, like, rigid glass epoxy multi layer and double side, rigid CEM, rigid flex, backplane, impedance controlled, metallic heatsink and bind and buries via printed circuit boards.
Fine-Line Circuits commits itself to manufacture and deliver defect-free PCBs to manufacturing industries by continually upgrading the services, process capability, product range, and with a constant customer focus shall achieve customer satisfaction.
Product range of the company includes:
- Multi Layer PCBs Complex Highcount MLBs with fine pitch SMDs on both sides. High Copper Board -- The typical high copper thickness achievable is at 210 microns. Upon request & with very special process & material they can go upto 350 micron with varying copper thickness for each layer.
- Impedance Controlled PCBs Impedance controlled multilayer boards for high frequency and high speed applications.
- Backplane PCBs This type of special purpose board requires very dense package of plated through holes which are structurally strong and ductile to guarantee high speed and stable electronic signal flow.
- Single & Double Sided PCBs Most common PCBs for consumer and industrial electronics devices. Large volume single-sided which can be CEM or FR4 pierced and blanked with hard tools & double sided PTH Routed/Scored.
Product quality of the company confirms to
- IPC A 600 Rev. F
- PERFAG 2E
- PERFAG 3C
- IPC RB 276
- MIL P 55110D
Awards & Achievements
An ISO 9001-2000 certified company
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