Consecutive Commodities Limited

Financial Services — Asset Management · BSE

₹0.98−₹0.01 (−1.01%)

DalalBaazaar Score

67 / 100

🟢 Good

Verdict

REASONABLE

Risk

Moderate

Driven by negative free cash flow, micro-cap size, which brings thin liquidity.

In simple words: Strong business and financial position, with both sales and profits growing well. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:06 pm

Mixed / neutral. No major red flags jump out, but nothing here screams "obviously cheap" either. This is a name that needs a peer comparison and a view on near-term earnings triggers before sizing a position.

Understanding the Business

Company site ↗

The 60-second version of Consecutive Commodities Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Consecutive Commodities Limited primarily invests in, acquires, deals in, holds, and disposes shares, stocks, debentures, bonds, and other securities in India. The company engages in agri trading business.

IndustryAsset Management

SectorFinancial Services

Annual revenue₹58 Cr

How does it make money?

Turns over ₹58 Cr a year. Of every ₹100 of sales, about ₹5 reaches shareholders as profit, with ₹6 left at the operating level before interest, tax and depreciation.

EBITDA margin5.7%

Net margin4.7%

Who are its competitors?

The closest listed comparisons in its industry are BAJAJ FINANCE LIMITED, HDFC BANK LTD, ICICI BANK LTD., STATE BANK OF INDIA. These are the companies its valuation and returns are measured against elsewhere in this report.

BAJAJ FINANCE LIMITEDP/E 30.2x · ROE 17.8%

HDFC BANK LTDP/E 15.9x · ROE 13.8%

ICICI BANK LTD.P/E 18.1x · ROE 16.5%

STATE BANK OF INDIAP/E 10.3x · ROE 15.2%

What is its competitive advantage?Not assessable from these ratios

For a lender, returns on capital are shaped by leverage and funding cost rather than by pricing power, so the usual financial signature of an advantage does not apply. Judge this one on deposit franchise, cost of funds and asset quality — none of which are in this data.

ROCE16.3%

ROE13.5%

Peer median ROE16.5%

What has been driving growth?

Growth has come mainly from selling more, rather than from keeping more of each sale. Over 3 years revenue moved +1181098% while net margin moved -100% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+1181098%

Margin effect-100%

DalalBaazaar Score

67/ 100

Good

Weighted across six categories. Every point is explained below.

✓ Beta of 0.40 — historically steadier than the index
✗ Micro Cap: thinner liquidity and sharper drawdowns are normal
✗ Profits have swung sharply from year to year — earnings are hard to forecast
✗ Negative free cash flow means dependence on external funding

Quality vs. Valuation

Company Quality

66/ 100

Good

How good the business is, ignoring the share price entirely.

Valuation

80/ 100

Cheap

What you are being asked to pay, ignoring how good the business is.

A good business currently available at an undemanding price — the combination this framework is built to look for.

Historical Valuation

Current P/E

5.2x

3Y Median

184.3x

40 monthly readings · mean 1303.4x · range 5.1x–9413.1x

Sector Median

17.0x

median of 4 sector peers

🟢Current valuation is approximately 97% below its 3y median of 184.3x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

🟢Against its sector it trades 70% below the peer median of 17.0x.

vs. its own history

Cheap

184.3x median over 40 months · -97%

vs. sector peers

Cheap

17.0x median of 4 peers · -70%

vs. generic bands

Cheap

Below 15x

P/E (Trailing)

5.2x

P/B

0.86x

EV/EBITDA

19.1x

PEG

0.03

Dividend Yield

None

What's Good / What's Bad

🟢 What's Going Well5

Margins are improving
EBITDA margin is up from -1522.4% to 5.7% over 3 years.
Return on equity is rising
ROE has improved from 2.0% to 13.5%.
Return on capital is rising
ROCE has improved from -1.5% to 16.3%.
Valuation below its historical average
At 5.2x the stock trades 97% below its own median of 184.3x.
Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

1 item require attention · 1 watch

🟡Shareholders have been dilutedOwnership
Shares outstanding are up 166% over 3 years — each existing share owns a smaller slice of the company.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from -1522.4% to 5.7%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.
Priced below its own history
The stock trades 97% below its own median multiple. If the business performs as it has and simply re-rates back to normal, that gap is return on its own.
Cheaper than its peers
It trades 70% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.
Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Revenue growth stays above 1633% a year✓ 2177.4% CAGR
Latest reported year was 57.2%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 4%✓ 5.7%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Return on equity stays above 11%✓ 13.5%
For a lender this is the cleanest single read on whether the book is being grown profitably.
4Valuation vs its own median of 184.3x✓ 5.2x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

7 / 11 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✓ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

7 good · 3 neutral · 1 weak

Market Cap

₹63 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

5.2x

Cheap

Cheap against the generic band

P/B Ratio

0.86x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹0.19

Profitable

Profitable on a per-share basis

ROE

13.5%

Moderate

Moderate capital efficiency

ROCE

16.3%

Strong

Earns comfortably above its likely cost of capital

Debt/Equity

0.30x

Low

Conservative leverage

Revenue Growth (YoY)

57.2%

Healthy

Healthy top-line growth

Profit Growth (YoY)

75.0%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹11 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

CMP

₹0.98

Operating Margin

16.6%

Good

Healthy core-business profitability

Net Margin

5.4%

Average

Average bottom-line conversion

Current Ratio

17.02

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.40

Defensive

Steadier than the market

52W Range Position

43%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

1.0 / 1.1

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

45.6

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹0 Cr	—	₹23 Cr	₹58 Cr	+2177.4%
EBITDA	-₹0 Cr	₹0 Cr	₹2 Cr	₹3 Cr	—
EBITDA Margin	-1522.4%	—	10.3%	5.7%	—
PAT (Net Profit)	₹0 Cr	₹0 Cr	₹2 Cr	₹3 Cr	+201.0%
EPS	₹0.02	₹0.01	₹0.13	₹0.16	+117.6%
ROE	2.0%	1.1%	12.8%	13.5%	—
ROCE	-1.5%	2.5%	13.3%	16.3%	—
Total Debt	—	₹0 Cr	₹0 Cr	₹0 Cr	—
Free Cash Flow	₹0 Cr	₹0 Cr	-₹6 Cr	-₹11 Cr	—

🟢 Revenue has grown at 2177.4% a year over 3 years.

🟢 EBITDA has turned positive, from -₹0 Cr to ₹3 Cr.

🟢 EBITDA Margin has risen from -1522.4% to 5.7% over 3 years (+1528.1 pts).

🟢 PAT (Net Profit) has grown at 201.0% a year over 3 years.

🟢 EPS has grown at 117.6% a year over 3 years.

🟢 ROE has risen from 2.0% to 13.5% over 3 years (+11.5 pts).

🟢 ROCE has risen from -1.5% to 16.3% over 3 years (+17.8 pts).

🔴 Free Cash Flow has turned negative, from ₹0 Cr to -₹11 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹21 Cr

Total Liabilities

₹1 Cr

Total Debt

₹0 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹11 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

10.7%

Peer Comparison

Company	P/E	ROE
BAJAJ FINANCE LIMITED	30.2x	17.8%
HDFC BANK LTD	15.9x	13.8%
ICICI BANK LTD.	18.1x	16.5%
STATE BANK OF INDIA	10.3x	15.2%

Recent News

1 mixed5 general

MCX Share Price Fall Streak: 4th Session Decline

Univest, 16 OctPrice move

🟡Mixed / dependsA price move rather than a change in the business. If the figures on this page have not moved, the fall is either an opportunity or news they have yet to catch up with.

Steel prices rise for third consecutive month on cost push

BusinessLine, 17 Oct

Consecutive Commodities Rights Issue 2026 Date, Price, Allotment, Ratio

IPO Watch, 20 Jul

Consecutive Commodities announces ₹48.05 crore rights issue

scanx.trade, 24 Jun

Consecutive Commodities Ltd. - RE Share Price Live Today

CNBC TV18, 27 Jul

Consecutive Commodities - 9 penny stocks surged up to 315% in 6 months; 3 turned multibaggers

The Economic Times, 11 Oct

Watch Items

This is a financial-sector business: borrowing is its raw material, not leverage in the usual sense. Debt/Equity and ROCE here aren't comparable to a manufacturer's — read them alongside NIM, GNPA and capital adequacy from the company's own disclosures.
Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

🟡Business QualityAdequate10.1/20

🟢Financial HealthStrong17/20

🟡GrowthModest12.9/20

🟡ProfitabilityModerate9.6/15

🟢ValuationAttractive13.2/15

🔴RiskHigh4/10

Attractive on both counts

A good business currently available at an undemanding price — the combination this framework exists to look for. The work left is qualitative: whether the advantage the numbers imply is one you can identify and expect to last.

This thesis breaks if

✓Revenue growth stays above 1633% a year2177.4% CAGR
✓EBITDA margin holds above 4%5.7%
✓Return on equity stays above 11%13.5%
✓Valuation vs its own median of 184.3x5.2x today