TAKE LIMITED

Healthcare — Health Information Services · NSE

₹12.62+₹0.59 (+4.90%)

DalalBaazaar Score

51 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by negative free cash flow, micro-cap size, which brings thin liquidity, falling profits.

In simple words: Strong business and financial position. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:03 pm

Understanding the Business

Company site ↗

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

What does this company do?

TAKE LIMITED, together with its subsidiaries, provides domain-intensive services in life sciences and supply chain industries in India. The company offers intelligent platforms across life sciences, clinical research, biotechnology, and preventive healthcare.

IndustryHealth Information Services

SectorHealthcare

Employees5

Annual revenue₹54 Cr

How does it make money?

Turns over ₹54 Cr a year. Of every ₹100 of sales, about ₹20 reaches shareholders as profit, with ₹9 left at the operating level before interest, tax and depreciation. Each of its 5 employees supports ₹10.84 Cr of revenue a year, the signature of a capital- or asset-led business.

Revenue / employee₹10.84 Cr

Who are its competitors?

The closest listed comparisons in its industry are SUN PHARMACEUTICAL IND L, CIPLA LTD, DR. REDDY S LABORATORIES, APOLLO HOSPITALS ENTER. L. 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 15.4% 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 ROE14.5%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved -71% while net margin moved -138% 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-71%

Margin effect-138%

DalalBaazaar Score

51/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ Revenue has contracted at 34.1% a year
✗ Profit fell 71.0% in the latest year

Quality vs. Valuation

Company Quality

57/ 100

Average

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

Valuation

38/ 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.

Historical Valuation

Current P/E

32.4x

1.3Y Median

15.8x

16 monthly readings · mean 13.4x · range 4.0x–20.7x

Sector Median

33.3x

median of 4 sector peers

⚠️Current valuation is approximately 105% above its 1.3y median of 15.8x. Paying more than usual needs a reason — faster growth, a better balance sheet, or a re-rating you believe in.

🟡Against its sector it is priced broadly in line with the peer median of 33.3x.

vs. its own history

Expensive

15.8x median over 16 months · +105%

vs. sector peers

Fair

33.3x median of 4 peers · -3%

vs. generic bands

Fair

15x–35x

EV/EBITDA

38.6x

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Return on equity is rising
ROE has improved from -92.3% to 35.0%.
Return on capital is rising
ROCE has improved from -30.9% to 15.4%.

🔴 What Needs Attention0

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

Red Flags

2 items require attention · 1 high · 1 watch

🔴Significant margin compressionFinancial
EBITDA margin has fallen 7.2 points, from 16.0% to 8.8%.
🟡Free cash flow is negativeFinancial
Free cash flow was -₹4 Cr in the latest year.

Investment Thesis

🟢 Bull CaseWhat could make this work?

No clear supporting case emerges from the available numbers.

🔴 Bear CaseWhat could go wrong?

Margins are being competed away
EBITDA margin has fallen from 16.0% to 8.8%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
The price already assumes success
The stock trades 105% above its own median multiple. At this level the business has to deliver just to stand still, and a stumble is repriced twice — lower earnings on a lower multiple.
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 7%✓ 8.8%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✗ -₹4 Cr
Profit that never becomes cash eventually stops being profit.
3ROCE stays above 12%✓ 15.4%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.
4Valuation vs its own median of 15.8x✗ 32.4x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

6 / 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
✓ 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

3 good · 5 neutral · 3 weak

Market Cap

₹185 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

32.4x

Fair

Fairly valued against the generic band

P/B Ratio

6.12x

Rich

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

EPS (TTM)

₹0.39

Profitable

Profitable on a per-share basis

ROE

35.0%

Strong

Strong capital efficiency

ROCE

15.4%

Strong

Earns comfortably above its likely cost of capital

Debt/Equity

Not available

No data

Source didn't return this field

Revenue Growth (YoY)

Not available

No data

Source didn't return this field

Profit Growth (YoY)

-71.0%

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

-₹4 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

P/E (Forward)

0.7x

Improving

Below the trailing multiple — the street expects earnings to grow into the price

Operating Margin

-0.9%

Weak

Thin margins leave little room for error

Net Margin

15.2%

Good

Strong bottom-line conversion

Current Ratio

4.54

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.38

Defensive

Steadier than the market

52W Range Position

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

13.6 / 16.8

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

33.3

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹189 Cr	₹4 Cr	—	₹54 Cr	-34.1%
EBITDA	₹30 Cr	₹2 Cr	₹3 Cr	₹5 Cr	-46.0%
EBITDA Margin	16.0%	61.5%	—	8.8%	—
PAT (Net Profit)	-₹100 Cr	-₹120 Cr	₹37 Cr	₹11 Cr	—
EPS	₹-6.86	₹-8.18	₹2.53	₹0.74	—
ROE	-92.3%	—	182.5%	35.0%	—
ROCE	-30.9%	—	13.2%	15.4%	—
Total Debt	₹46 Cr	₹37 Cr	—	—	—
Free Cash Flow	-₹12 Cr	₹1 Cr	-₹16 Cr	-₹4 Cr	—

🔴 Revenue has shrunk at 34.1% a year over 3 years.

🔴 EBITDA has shrunk at 46.0% a year over 3 years.

🔴 EBITDA Margin has fallen from 16.0% to 8.8% over 3 years (-7.2 pts).

🟢 PAT (Net Profit) has turned positive, from -₹100 Cr to ₹11 Cr.

🟢 EPS has turned positive, from ₹-6.86 to ₹0.74.

🟢 ROE has risen from -92.3% to 35.0% over 3 years (+127.3 pts).

🟢 ROCE has risen from -30.9% to 15.4% over 3 years (+46.3 pts).

Balance Sheet & Cash Flow — FY2026

Total Assets

₹36 Cr

Total Liabilities

₹5 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹4 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

62.2%

Corporate Actions

Ex-Dividend Date

01 Aug 2019

Peer Comparison

Company	P/E	ROE
SUN PHARMACEUTICAL IND L	34.9x	14.5%
CIPLA LTD	31.8x	9.8%
DR. REDDY S LABORATORIES	31.0x	8.8%
APOLLO HOSPITALS ENTER. L	54.3x	22.0%

Recent News

2 mixed4 general

Take Solutions Share Price Target 2027, 2028 and 2030: Long Term Analyst Forecast

Univest, 11 AugAnalyst view

🟡Mixed / dependsBroker commentary — an opinion about the price rather than new information about the business.

TAKE (NSEI:TAKE) - Stock Analysis

Simply Wall Street, 02 Jul

Stock Market Today: Stock Market News And Analysis

Investor's Business Daily, 16 Oct

Why did CoreWeave stock get crushed this week? Look to this corner of the debt market for clues

CNBC, 16 Oct

City goes public with $200M IPO, while Frazier Life Sciences takes biotech-focused SPAC to Nasdaq

Fierce Biotech, 16 Oct

Small-cap stock under ₹50 Take Solutions hits 5% upper circuit after Q4 results 2026

Livemint, 21 MayResults

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

Watch Items

Trading very close to its 52-week low — worth checking whether this reflects a temporary setback or a structural problem.
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

StrongBusiness Quality · Financial Health · Profitability

WeakGrowth · 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.

2 of 4 tripwires tripped — Free cash flow remains positive; Valuation vs its own median of 15.8x · see Key things to watch ↑