Fruition Venture Limited

Financial Services — Capital Markets · BSE

₹27.06+₹1.28 (+4.97%)

DalalBaazaar Score

43 / 100

🟡 Moderate

Verdict

CAUTION

Risk

Very High

Driven by negative free cash flow, the company is currently loss-making, micro-cap size, which brings thin liquidity.

In simple words: The company is currently losing money, though profits are falling even as sales grow. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:58 pm

Understanding the Business

Company site ↗

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

What does this company do?

Fruition Venture Limited invests in various commodities and trades in shares and securities in India. It also provides computer and computer peripherals; fabrics; consultancy; other related services, as well as acts as financial broker.

IndustryCapital Markets

SectorFinancial Services

Annual revenue₹5 Cr

How does it make money?

Turns over ₹5 Cr a year. Of every ₹100 of sales, about ₹-19 reaches shareholders as profit, with ₹13 left at the operating level before interest, tax and depreciation.

Who are its competitors?

The closest listed comparisons in its industry are BAJAJ FINANCE LIMITED, HDFC LIFE INS CO LTD, SBI LIFE INSURANCE CO LTD. 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 ROE13.7%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved +20% while net margin moved -1088% 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+20%

Margin effect-1088%

DalalBaazaar Score

43/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ No meaningful P/E — the company is lossmaking

Quality vs. Valuation

Company Quality

52/ 100

Average

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

Valuation

26/ 100

Expensive

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

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

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

No P/E — the company is lossmaking

EV/EBITDA

19.2x

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Margins are improving
EBITDA margin is up from -3.2% to 12.8% over 3 years.
Return on capital is rising
ROCE has improved from -2.7% to 7.3%.

🔴 What Needs Attention2

Return on equity is falling
ROE has dropped from 1.5% to -18.7% — each rupee of shareholder capital earns less than it did.
Inventory building faster than sales
Inventory is up 205% against revenue growth of 20% — stock may not be moving.

Red Flags

1 item require attention · 1 high

🔴The company is lossmakingFinancial
Net profit of -₹1 Cr in the latest reported year.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from -3.2% to 12.8%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.

🔴 Bear CaseWhat could go wrong?

Growth barely outpaces inflation
Revenue compounding at 6.1% a year is close to the rate prices rise, so the business is gaining little ground in real terms. That leaves the share price dependent on a re-rating rather than on earnings growth.
Returns on shareholder capital are falling
ROE has dropped from 1.5% to -18.7%. Each rupee of equity earns less than it did, so profit growth increasingly depends on raising more capital rather than on the existing base working harder.
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

1EBITDA margin holds above 11%✓ 12.8%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Return on equity stays above 8%✗ -18.7%
For a lender this is the cleanest single read on whether the book is being grown profitably.
3Revenue growth stays above 5% a year✓ 6.1% CAGR
Latest reported year was 43.4%. The bar is set below the established compounding rate, so ordinary variation does not trip it.

Investment Checklist

4 / 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

1 good · 3 neutral · 7 weak

Market Cap

₹12 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)

₹-2.45

Loss-making

Negative earnings per share — the business is losing money

ROE

-18.7%

Weak

Weak capital efficiency

ROCE

7.3%

Weak

Low return on total capital employed

Debt/Equity

9.34x

High

High leverage

Revenue Growth (YoY)

43.4%

Healthy

Healthy top-line growth

Profit Growth (YoY)

-348.3%

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

1.65

Comfortable

Healthy short-term liquidity

52W Range Position

12%

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

27.7 / 34.7

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

46.5

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹4 Cr	₹0 Cr	₹4 Cr	₹5 Cr	+6.1%
EBITDA	-₹0 Cr	-₹1 Cr	₹0 Cr	₹1 Cr	—
EBITDA Margin	-3.2%	-374.8%	4.0%	12.8%	—
PAT (Net Profit)	₹0 Cr	-₹1 Cr	-₹0 Cr	-₹1 Cr	—
EPS	₹0.21	₹-1.87	₹-0.55	₹-2.46	—
ROE	1.5%	-14.6%	-4.6%	-18.7%	—
ROCE	-2.7%	-9.9%	-2.8%	7.3%	—
Total Debt	—	₹2 Cr	₹1 Cr	₹0 Cr	—
Free Cash Flow	₹2 Cr	-₹4 Cr	-₹1 Cr	-₹0 Cr	—

🟢 Revenue has grown at 6.1% a year over 3 years.

🟢 EBITDA has turned positive, from -₹0 Cr to ₹1 Cr.

🟢 EBITDA Margin has risen from -3.2% to 12.8% over 3 years (+16.1 pts).

🔴 PAT (Net Profit) has turned negative, from ₹0 Cr to -₹1 Cr.

🔴 EPS has turned negative, from ₹0.21 to ₹-2.46.

🔴 ROE has fallen from 1.5% to -18.7% over 3 years (-20.2 pts).

🟢 ROCE has risen from -2.7% to 7.3% over 3 years (+10.1 pts).

🔴 Free Cash Flow has turned negative, from ₹2 Cr to -₹0 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹6 Cr

Total Liabilities

₹1 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

₹1 Cr

Capex

-₹1 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

63.9%

Peer Comparison

Company	P/E	ROE
BAJAJ FINANCE LIMITED	30.2x	17.8%
HDFC LIFE INS CO LTD	58.4x	11.3%
SBI LIFE INSURANCE CO LTD	63.9x	13.7%

Recent News

1 mixed5 general

Fruition Venture Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 30 Aug

Fruition Venture AGM passes all resolutions with 100% assent

scanx.trade, 24 Sept

FRUITION VENTURE LIMITED Announces Appointment of Shivi Jindal as Non-Executive Independent Director, Effective June 23, 2026

marketscreener.com, 24 Sept

Fruition Venture gets trading approval for 6 lakh equity shares

scanx.trade, 19 Aug

Dixon Technologies Shares Jump 5% on Buzz of Imminent Government Nod for Vivo Joint Venture

HDFC Sky, 17 JunPrice move

🟡Mixed / dependsA price move, which is not by itself a change in the business. Worth finding the cause before reading it as either good or bad.

Fruition Venture promoter holding falls to 33.99% after warrant conversion

scanx.trade, 28 Jun

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

DalalBaazaar Thesis

StrongFinancial Health

MiddlingBusiness Quality

WeakGrowth · Profitability · Valuation · Risk

Points for each in the Score ↑

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you. 1 high-severity red flag sits above this conclusion and should be read first.

1 of 3 tripwires tripped — Return on equity stays above 8% · see Key things to watch ↑