Shree OSFM E-Mobility Limited

Sector n/a · NSE

₹160.00₹0.00 (0.00%)

DalalBaazaar Score

56 / 100

🟡 Moderate

Verdict

NEUTRAL

Risk

Moderate

Driven by micro-cap size, which brings thin liquidity, falling profits.

In simple words: Reasonable but unspectacular business quality, though profits are falling even as sales grow. The direction of profits is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:08 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

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

How does it make money?

Turns over ₹153 Cr a year. Of every ₹100 of sales, about ₹5 reaches shareholders as profit, with ₹13 left at the operating level before interest, tax and depreciation.

EBITDA margin12.8%

Net margin5.0%

What is its competitive advantage?Little sign of one

Returns on capital of 11.5% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

ROCE11.5%

ROE9.0%

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 +86% while net margin moved +40% 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+86%

Margin effect+40%

DalalBaazaar Score

56/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ Micro Cap: thinner liquidity and sharper drawdowns are normal
✗ Profits have swung sharply from year to year — earnings are hard to forecast

Quality vs. Valuation

Company Quality

62/ 100

Average

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

Valuation

60/ 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.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

No P/E available

P/E (Trailing)

—

P/B

—

EV/EBITDA

10.7x

PEG

—

Dividend Yield

None

What's Good / What's Bad

🟢 What's Going Well4

Margins are improving
EBITDA margin is up from 9.9% to 12.8% over 3 years.
Cash flow has turned positive
Free cash flow moved from negative to positive over 3 years.
Very low debt
Debt/Equity of 0.16x leaves the balance sheet with plenty of headroom.
Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention3

Debt is rising
Total debt is up 45% over 3 years — worth checking what it funded.
Return on equity is falling
ROE has dropped from 13.8% to 9.0% — each rupee of shareholder capital earns less than it did.
Return on capital is falling
ROCE has declined from 20.7% to 11.5% — often a sign of competition or overexpansion.

Red Flags

1 item require attention · 1 watch

🟡Debt is increasingFinancial
Total debt is up 45% over 3 years.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from 9.9% to 12.8%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.
Self-funding with balance-sheet headroom
Positive free cash flow of ₹15 Cr alongside low debt means growth, buybacks or dividends need no outside money — and a downturn can be absorbed rather than refinanced.
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?

Returns on shareholder capital are falling
ROE has dropped from 13.8% to 9.0%. 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

1Revenue growth stays above 17% a year✓ 22.9% CAGR
Latest reported year was 10.5%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 11%✓ 12.8%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Free cash flow remains positive✓ ₹15 Cr
Profit that never becomes cash eventually stops being profit.
4Debt / EBITDA stays below 2x✓ 0.7x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
5ROCE stays above 9%✓ 11.5%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

4 / 9 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
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

3 good · 7 neutral · 1 weak

Market Cap

₹246 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not available

No data

Source didn't return this field

P/B Ratio

Not available

No data

Source didn't return this field

EPS (TTM)

Not available

No data

Source didn't return this field

ROE

9.0%

Moderate

Moderate capital efficiency

ROCE

11.5%

Moderate

Moderate return on the capital in the business

Debt/Equity

0.16x

Low

Conservative leverage

Revenue Growth (YoY)

10.5%

Healthy

Healthy top-line growth

Profit Growth (YoY)

-26.8%

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

₹15 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

CMP

₹160

Gross Margin

19.5%

Proxy

Operating margin unavailable — showing gross margin instead

Net Margin

5.0%

Average

Average bottom-line conversion

Current Ratio

3.21

Comfortable

Healthy short-term liquidity

Technical Snapshot

SMA 20 / SMA 50

53.0 / 55.8

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

46.7

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹82 Cr	₹118 Cr	₹138 Cr	₹153 Cr	+22.9%
EBITDA	₹8 Cr	₹14 Cr	₹20 Cr	₹19 Cr	+33.8%
EBITDA Margin	9.9%	11.9%	14.6%	12.8%	—
PAT (Net Profit)	₹3 Cr	₹8 Cr	₹10 Cr	₹8 Cr	+37.5%
EPS	₹2.04	₹7.02	₹6.91	—	—
ROE	13.8%	15.2%	13.5%	9.0%	—
ROCE	20.7%	16.6%	16.5%	11.5%	—
Total Debt	₹9 Cr	₹11 Cr	₹11 Cr	₹13 Cr	+13.1%
Free Cash Flow	-₹6 Cr	-₹6 Cr	-₹6 Cr	₹15 Cr	—

🟢 Revenue has grown at 22.9% a year over 3 years.

🟢 EBITDA has grown at 33.8% a year over 3 years.

🟢 EBITDA Margin has risen from 9.9% to 12.8% over 3 years (+2.9 pts).

🟢 PAT (Net Profit) has grown at 37.5% a year over 3 years.

🔴 ROE has fallen from 13.8% to 9.0% over 3 years (-4.8 pts).

🔴 ROCE has fallen from 20.7% to 11.5% over 3 years (-9.1 pts).

🔴 Total Debt has grown at 13.1% a year over 3 years.

🟢 Free Cash Flow has turned positive, from -₹6 Cr to ₹15 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹131 Cr

Total Liabilities

₹47 Cr

Total Debt

₹13 Cr

Cash & Equivalents

₹51 Cr

Operating Cash Flow

₹25 Cr

Capex

-₹10 Cr

Recent News

1 mixed5 general

Shree OSFM E-Mobility Ltd Key Financial Ratios – Valuation, Profitability & More

Value Research, 21 Sept

SHREE OSFM E-MOBILITY LTD Share Price

Upstox, 05 May

Shree OSFM E-Mobility targets 15-20% growth in FY27

scanx.trade, 18 Jun

SHREEOSFM Stock Price and Chart — NSE:SHREEOSFM

TradingView, 26 Oct

Ashish Kacholia goes bargain hunting: Ace investor bought 5 new smallcaps when market crashed in Q4

The Economic Times, 21 AprResults

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

Shree OSFM E-Mobility (NSEI:SHREEOSFM) - Stock Analysis

Simply Wall Street, 23 Dec

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.
Sector/industry classification unavailable — verify manually for peer comparison.
3 metrics couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.

DalalBaazaar Thesis

🟡Business QualityAdequate9/20

🟢Financial HealthStrong17.8/20

🟢GrowthStrong14.9/20

🔴ProfitabilityWeak4.6/15

🟡ValuationFair7.5/15

🔴RiskHigh2.3/10

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.

This thesis breaks if

✓Revenue growth stays above 17% a year22.9% CAGR
✓EBITDA margin holds above 11%12.8%
✓Free cash flow remains positive₹15 Cr
✓Debt / EBITDA stays below 2x0.7x
✓ROCE stays above 9%11.5%