Globe Multi Ventures Limited

Industrials — Conglomerates · BSE

₹16.80+₹0.02 (+0.12%)

DalalBaazaar Score

64 / 100

🟢 Good

Verdict

REASONABLE

Risk

Very High

Driven by high debt relative to equity, 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. Debt is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:49 pm

Understanding the Business

Company site ↗

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

What does this company do?

Globe Multi Ventures Limited engages in the processing, marketing, selling, distribution, and trading of agri commodities in India. It offers pulses, cereals, corn, wheat, rice, etc.; and provides e-commerce solutions.

IndustryConglomerates

SectorIndustrials

Annual revenue₹203 Cr

How does it make money?

Turns over ₹203 Cr a year. Of every ₹100 of sales, about ₹3 reaches shareholders as profit, with ₹4 left at the operating level before interest, tax and depreciation.

Who are its competitors?

The closest listed comparisons in its industry are LARSEN & TOUBRO LTD., SIEMENS LTD, ABB INDIA LIMITED. 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?The numbers suggest a real one

ROCE has stayed above 15% in every year available and stands at 42.4%. Returns that high normally get competed away; when they persist, something is protecting them, and its ROE of 33.5% against a peer median of 15.2% is consistent with that. What that something is — brand, scale, switching costs, regulation — the accounts cannot tell you.

Peer median ROE15.2%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved +98% while net margin moved +201% 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+98%

Margin effect+201%

DalalBaazaar Score

64/ 100

Good

Weighted across six categories. Every point is explained below.

✗ Beta of 1.80 — amplifies market moves in both directions
✗ Micro Cap: thinner liquidity and sharper drawdowns are normal
✗ High leverage magnifies any downturn in earnings
✗ 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

64/ 100

Average

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

Valuation

88/ 100

Cheap

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.

Historical Valuation

Current P/E

1.4x

4Y Median

6.2x

52 monthly readings · mean 8.0x · range 2.5x–28.7x

Sector Median

88.8x

median of 3 sector peers

🟢Current valuation is approximately 78% below its 4y median of 6.2x. 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 98% below the peer median of 88.8x.

vs. its own history

Cheap

6.2x median over 52 months · -78%

vs. sector peers

Cheap

88.8x median of 3 peers · -98%

vs. generic bands

Cheap

Below 15x

EV/EBITDA

1.4x

PEG

0.02

What's Good / What's Bad

🟢 What's Going Well5

Margins are improving
EBITDA margin is up from 1.4% to 4.2% over 3 years.
Return on equity is rising
ROE has improved from 14.3% to 32.5%.
Return on capital is rising
ROCE has improved from 16.3% to 42.4%.
High return on capital employed
ROCE of 42.4% is the mark of a business that converts capital into profit efficiently.
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

2 items require attention · 2 high

🔴High leverageFinancial
Debt/Equity of 5.67x — earnings must service borrowings before shareholders see anything.
🔴Inventory building faster than salesFinancial
Inventory up 408% against revenue up 98% — stock may not be moving.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Capital compounds at a high rate
ROCE of 42.4% means each rupee reinvested earns well above what capital costs. If the company can keep deploying at this rate, growth creates value rather than just consuming cash.
Margin expansion has further to run
EBITDA margin has risen from 1.4% to 4.2%. 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 78% 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 98% 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?

Leverage amplifies any setback
Debt/Equity of 5.67x. Interest is payable whether or not the business has a good year.
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.
Several serious flags at once
2 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

1Revenue growth stays above 19% a year✓ 25.6% CAGR
Latest reported year was 25.3%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 2%✓ 4.2%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Free cash flow remains positive✓ ₹0 Cr
Profit that never becomes cash eventually stops being profit.
4Debt / EBITDA stays below 2x✓ 0.2x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
5ROCE stays above 39%✓ 42.4%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

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 · 2 neutral · 2 weak

Market Cap

₹10 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

1.4x

Cheap

Cheap against the generic band

P/B Ratio

0.39x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹12.42

Profitable

Profitable on a per-share basis

ROE

33.5%

Strong

Strong capital efficiency

ROCE

42.4%

Strong

Earns comfortably above its likely cost of capital

Debt/Equity

5.67x

High

High leverage

Revenue Growth (YoY)

25.3%

Healthy

Healthy top-line growth

Profit Growth (YoY)

96.8%

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

-₹1 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

ROA

10.3%

Good

Assets are working hard

Operating Margin

3.9%

Weak

Thin margins leave little room for error

Net Margin

3.4%

Average

Average bottom-line conversion

Current Ratio

1.45

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

1.80

High swing

Swings more than the market in both directions

52W Range Position

29%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

18.0 / 18.1

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

35.7

Neutral momentum

Financial Trend (4-Year)

Metric	FY22	FY23	FY24	FY25	3Y CAGR
Revenue	₹103 Cr	₹140 Cr	₹162 Cr	₹203 Cr	+25.6%
EBITDA	₹1 Cr	₹3 Cr	₹4 Cr	₹8 Cr	+82.7%
EBITDA Margin	1.4%	2.3%	2.6%	4.2%	—
PAT (Net Profit)	₹1 Cr	₹2 Cr	₹3 Cr	₹6 Cr	+81.3%
EPS	₹1.68	₹3.96	₹5.09	—	—
ROE	14.3%	25.2%	24.4%	32.5%	—
ROCE	16.3%	29.8%	29.9%	42.4%	—
Total Debt	₹1 Cr	₹1 Cr	₹1 Cr	₹1 Cr	+0.0%
Free Cash Flow	₹0 Cr	₹0 Cr	-₹0 Cr	₹0 Cr	-52.5%

🟢 Revenue has grown at 25.6% a year over 3 years.

🟢 EBITDA has grown at 82.7% a year over 3 years.

🟢 EBITDA Margin has risen from 1.4% to 4.2% over 3 years (+2.8 pts).

🟢 PAT (Net Profit) has grown at 81.3% a year over 3 years.

🟢 ROE has risen from 14.3% to 32.5% over 3 years (+18.2 pts).

🟢 ROCE has risen from 16.3% to 42.4% over 3 years (+26.2 pts).

🟡 Total Debt has been broadly flat over 3 years (0.0% a year).

🔴 Free Cash Flow has shrunk at 52.5% a year over 3 years.

Balance Sheet & Cash Flow — FY2025

Total Assets

₹57 Cr

Total Liabilities

₹38 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

₹0 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

49.0%

Peer Comparison

Company	P/E	ROE
LARSEN & TOUBRO LTD.	30.1x	15.2%
SIEMENS LTD	88.8x	10.5%
ABB INDIA LIMITED	92.6x	19.1%

Recent News

1 positive1 mixed4 general

Globe Multi Ventures postpones board meeting after director's demise

scanx.trade, 28 Sept

Globe Multi Ventures Limited Reports Earnings Results for the Fourth Quarter Ended March 31, 2026

marketscreener.com, 05 OctResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

City Pulse Multiventures Ltd. Lower Circuit: Price and Key Data

Univest, 05 Oct

Globe Commercials FY26 Results: Net profit up 24% YoY to ₹745.59 lakh

scanx.trade, 05 OctResults

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

Globe Commercials gets one-month extension to hold AGM from ROC

scanx.trade, 18 Sept

Globe Multi Ventures Limited (540266) Company Information

Simply Wall Street, 08 Dec

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

StrongGrowth · Profitability · Valuation

MiddlingBusiness Quality

WeakFinancial Health · 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. 2 high-severity red flags sit above this conclusion and should be read first.

All 5 tripwires holding · see Key things to watch ↑