Lohia Corp Limited

Industrials — Specialty Industrial Machinery · NSE

₹610.00−₹12.05 (−1.94%)

DalalBaazaar Score

63 / 100

🟢 Good

Verdict

REASONABLE

Risk

Low

Driven by small-cap size, which brings sharper price swings.

In simple words: Strong business and financial position, with both sales and profits growing well. Nothing on this snapshot stands out as an immediate concern — the usual checks on business quality and management still apply.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 8:27 pm

Understanding the Business

Company site ↗

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

What does this company do?

Lohia Corp Limited engages in manufacture and sale of machinery and equipment for technical textiles in Latin America, Africa, East Asia and the Middle East.

IndustrySpecialty Industrial Machinery

SectorIndustrials

Annual revenue₹1,691 Cr

How does it make money?

Turns over ₹1,691 Cr a year. Of every ₹100 of sales, about ₹11 reaches shareholders as profit, with ₹20 left at the operating level before interest, tax and depreciation.

Who are its competitors?

The closest listed comparisons in its industry are SIEMENS LTD, ABB INDIA LIMITED, LARSEN & TOUBRO LTD., HAVELLS 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?Some evidence

ROCE of 45.9% is above what capital typically costs, which suggests some pricing power, though not yet the sustained, wide gap that marks a durable advantage.

Peer median ROE17.1%

DalalBaazaar Score

63/ 100

Good

Weighted across six categories. Every point is explained below.

• P/E of 26.5x already prices in growth
✗ P/B of 12.36x is a steep premium to book

Quality vs. Valuation

Company Quality

73/ 100

Good

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

Valuation

59/ 100

Fair

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

26.5x

Sector Median

66.2x

median of 4 sector peers

🟢Against its sector it trades 60% below the peer median of 66.2x.

vs. its own history

Not enough price and earnings history

vs. sector peers

Cheap

66.2x median of 4 peers · -60%

vs. generic bands

Fair

15x–35x

EV/EBITDA

19.5x

PEG

—

What's Good / What's Bad

🟢 What's Going Well1

High return on capital employed
ROCE of 45.9% is the mark of a business that converts capital into profit efficiently.

🔴 What Needs Attention0

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

Red Flags

No automated checks triggered

None of the automated financial checks below were triggered on the years of data available. That is not the same as a clean bill of health — see what could not be checked.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Capital compounds at a high rate
ROCE of 45.9% 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.
Cheaper than its peers
It trades 60% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.
Self-funding with balance-sheet headroom
Positive free cash flow of ₹243 Cr alongside low debt means growth, buybacks or dividends need no outside money — and a downturn can be absorbed rather than refinanced.

🔴 Bear CaseWhat could go wrong?

Size brings its own risk
Small 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 18%✓ 20.0%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✓ ₹243 Cr
Profit that never becomes cash eventually stops being profit.
3Debt / EBITDA stays below 2x✓ 0.5x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
4ROCE stays above 43%✓ 45.9%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

11 / 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

₹6,445 Cr

Small Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

26.5x

Fair

Fairly valued against the generic band

P/B Ratio

12.36x

Rich

Steep premium to book — needs high, durable returns to justify

EPS (TTM)

₹23.01

Profitable

Profitable on a per-share basis

ROE

37.1%

Strong

Strong capital efficiency

ROCE

45.9%

Strong

Earns comfortably above its likely cost of capital

Debt/Equity

0.34x

Low

Conservative leverage

Revenue Growth (YoY)

59.5%

Healthy

Healthy top-line growth

Profit Growth (YoY)

291.9%

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

₹243 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

Operating Margin

18.6%

Good

Healthy core-business profitability

Net Margin

12.8%

Good

Strong bottom-line conversion

Current Ratio

1.28

Comfortable

Healthy short-term liquidity

52W Range Position

75%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

594.2 / 567.5

Bullish alignment (short > long)

RSI (14)

54.1

Neutral momentum

Financial Trend (3-Year)

Metric	FY24	FY25	FY26	2Y CAGR
Revenue	—	₹1,349 Cr	₹1,691 Cr	—
EBITDA	—	₹229 Cr	₹338 Cr	—
EBITDA Margin	—	17.0%	20.0%	—
PAT (Net Profit)	—	₹117 Cr	₹193 Cr	—
EPS	—	₹11.07	₹18.3	—
ROE	—	31.8%	37.1%	—
ROCE	—	34.6%	45.9%	—
Total Debt	—	₹237 Cr	₹175 Cr	—
Free Cash Flow	—	₹105 Cr	₹243 Cr	—

🟢 EBITDA Margin has risen from 17.0% to 20.0% over 2 years (+3.0 pts).

🟢 ROE has risen from 31.8% to 37.1% over 2 years (+5.3 pts).

🟢 ROCE has risen from 34.6% to 45.9% over 2 years (+11.3 pts).

Balance Sheet & Cash Flow — FY2026

Total Assets

₹1,305 Cr

Total Liabilities

₹779 Cr

Cash & Equivalents

₹29 Cr

Operating Cash Flow

₹325 Cr

Capex

-₹83 Cr

Shareholding (proxy)

Institutional Holding

20.0%

Insider Holding

68.7%

Peer Comparison

Company	P/E	ROE
SIEMENS LTD	88.8x	10.5%
ABB INDIA LIMITED	92.6x	19.1%
LARSEN & TOUBRO LTD.	30.1x	15.2%
HAVELLS INDIA LIMITED	43.5x	17.1%

Recent News

1 mixed5 general

Lohia Corp shares climb 43% above IPO price as earnings surge nearly fourfold

PrintWeek India, 14 OctPrice 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.

Lohia Corp IPO - Check Allotment Status, Listing Date, Listing Price

Groww, 30 Jul

Lohia Corp lists at 8% premium, beats GMP expectations; should you buy?

Business Standard, 30 Jul

Lohia Corp shares list at decent premium of 8% over IPO price on NSE; should you buy, sell or hold?

Moneycontrol.com, 30 Jul

Lohia Corp Ltd | Stock Share Price Live

MarketSmith India, 10 Sept

Lohia Corp Limited 52 Week High Streak After 2 Sessions

Univest, 07 Oct

Watch Items

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

DalalBaazaar Thesis

StrongBusiness Quality · Financial Health · Profitability

MiddlingGrowth

WeakValuation · Risk

Points for each in the Score ↑

Good business at a fair price

A sound business at a reasonable valuation. Suitable for a long-term holding, with the valuation and the direction of margins worth watching rather than the business itself.

All 4 tripwires holding · see Key things to watch ↑