Epsom Properties Limited

Financial Services — Shell Companies · BSE

₹8.81−₹0.44 (−4.76%)

DalalBaazaar Score

24 / 100

🔴 Weak

Verdict

HIGH RISK

Risk

Very High

Driven by negative shareholders' equity — the company owes more than it owns, negative free cash flow, the company is currently loss-making.

In simple words: The company owes more than it owns — years of losses have wiped out its net worth. Solvency — whether it can keep funding itself at all — is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 8:28 pm

Understanding the Business

Company site ↗

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

What does this company do?

Epsom Properties Limited does not have significant operations. Previously, it was engaged in the real estate business. The company was formerly known as Hulta Pharmaceutical Export Private Limited and changed its name to Epsom Properties Limited in May 2007.

IndustryShell Companies

SectorFinancial Services

Employees3

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.

Compared side by side in Peers ↓

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.

Peer median ROE16.5%

DalalBaazaar Score

24/ 100

Weak

Weighted across six categories. Every point is explained below.

✗ Shareholders' equity is negative — accumulated losses exceed the capital in the business

Quality vs. Valuation

Company Quality

25/ 100

Weak

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

Valuation

30/ 100

Expensive

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

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

Multiples unreliable — equity base is negative

EV/EBITDA

—

PEG

—

Red Flags

4 items require attention · 3 high · 1 watch

🔴Negative shareholders' equityFinancial
Liabilities exceed assets — accumulated losses have wiped out the company's net worth.
🔴Thin interest coverageFinancial
Operating profit covers interest only -1.7x — little room if earnings dip.
🔴The company is lossmakingFinancial
Net profit of -₹0 Cr in the latest reported year.
🟡Interest coverage is deterioratingFinancial
Cover has fallen from -2.2x to -1.7x.

Investment Thesis

🟢 Bull CaseWhat could make this work?

No clear supporting case emerges from the available numbers.

🔴 Bear CaseWhat could go wrong?

Solvency comes before everything else
Liabilities exceed assets. Until net worth is rebuilt, the equity is a claim on a business that owes more than it owns, and further losses or a funding squeeze can leave shareholders with nothing.
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.
Several serious flags at once
3 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

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

1Interest cover stays above 3x✗ -1.7x
How much operating profit can fall before interest stops being comfortably covered.

Investment Checklist

4 / 9 checks passed

✗ Shareholders' equity is positive (assets exceed liabilities)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ 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

0 good · 5 neutral · 6 weak

Market Cap

₹7 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

Not available

No data

Source didn't return this field

EPS (TTM)

₹-0.05

Loss-making

Negative earnings per share — the business is losing money

ROE

Not meaningful

Negative equity

Return on equity can't be read when equity itself is negative

ROCE

-197.2%

Distorted

Distorted by the negative net worth — read this alongside the solvency flag, not on its own

Debt/Equity

Not meaningful

Negative equity

Shareholders' equity is negative, so this ratio can't be read

Revenue Growth (YoY)

Not available

No data

Source didn't return this field

Profit Growth (YoY)

-0.6%

Falling

Profits are shrinking

Dividend Yield

None

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

Free Cash Flow

-₹0 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

0.0%

Weak

Thin margins leave little room for error

Net Margin

0.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

17.25

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.55

Defensive

Steadier than the market

52W Range Position

68%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

8.6 / 8.4

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

54.4

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
EBITDA	-₹0 Cr	-₹0 Cr	-₹0 Cr	-₹0 Cr	—
PAT (Net Profit)	-₹0 Cr	-₹0 Cr	-₹0 Cr	-₹0 Cr	—
EPS	₹-0.04	₹-0.05	₹-0.05	₹-0.05	—
ROCE	-423.2%	-337.6%	-233.6%	-197.2%	—
Total Debt	₹1 Cr	₹1 Cr	₹2 Cr	₹2 Cr	+29.3%
Free Cash Flow	-₹0 Cr	-₹0 Cr	-₹0 Cr	-₹0 Cr	—

🟢 ROCE has risen from -423.2% to -197.2% over 3 years (+226.1 pts).

🔴 Total Debt has grown at 29.3% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹0 Cr

Total Liabilities

₹2 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹0 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

63.9%

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

2 positive4 general

Epsom Properties Ltd. Key Financial Ratios – Valuation, Profitability & More

Value Research, 31 Aug

Epsom Properties Ltd. Peer Comparison – Compare with Others

Value Research, 30 Aug

Mazagon Dock Shipbuilders consolidated net profit rises 21.51% in the June 2026 quarter

Business Standard, 31 JulResults

🟢Potentially positiveReported improvement. Check whether it came from volume, price or a one-off item before treating it as a trend.

Epsom Properties Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 30 Aug

'Selling Dad's flat after he died was a nightmare'

BBC, 22 May

Filatex India consolidated net profit rises 19.33% in the June 2026 quarter

Business Standard, 31 JulResults

🟢Potentially positiveReported improvement. Check whether it came from volume, price or a one-off item before treating it as a trend.

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.
2 metrics couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.

DalalBaazaar Thesis

MiddlingGrowth

WeakBusiness Quality · Financial Health · Profitability · Valuation · Risk

Points for each in the Score ↑

Avoid until solvency is resolved

Epsom Properties Limited owes more than it owns. Whatever the operating numbers show, the equity is a residual claim on a business with negative net worth, and that question has to be settled before any of the rest is worth weighing. 3 high-severity red flags sit above this conclusion and should be read first.

1 of 1 tripwires tripped — Interest cover stays above 3x · see Key things to watch ↑