CFF Fluid Control Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

CFF Fluid Control Ltd trades at ₹918, in a confirmed uptrend and 13 weeks into that stage. That is +34.2% against its own 200-day average. It sits at 100% of a 52-week range of ₹516 to ₹918. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 4 straight weeks.

Today the stock is in a confirmed uptrend — week 13 of stage 2, confirmed. At ₹918 it trades +34.2% versus its 200-day average and sits at 100% of its 52-week range (₹516–₹918).

Against the market, two honest reads. Cumulative: over the last 3.1 years the stock moved +452% while the NIFTY 500 moved +44% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 4 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 45th percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

CFF Fluid Control Ltd trades at 51.4× P/E, mid-range by its own standards (45th percentile). Its long-run median P/E is 52.7×, measured across 3.1 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 51.4× is mid-range by its own standards (45th percentile), against a long-run median of 52.7× measured over 3.1 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved +52.6% against a +40.3% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 3y, of the +51.4%/yr price move, ~−44.2%/yr came from earnings growth and ~+95.6 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

CFF Fluid Control Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 6 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

70.1/100 — rank 2 of 3 in Shipping - Proxy · 64% evidence confidence

CFF Fluid Control Ltd scores 70.1 out of 100 against the 3 companies it is compared with in Shipping - Proxy, ranking 2. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.

The four contributions add to the total exactly: 23.3 + 22.3 + 11 + 13.5 = 70.1. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

CFF Fluid Control Ltd reported ₹105 Cr of revenue in the Mar 26 quarter, +59.1% year on year. That is the 6th straight quarter of year-on-year growth. Over 6 years it has compounded at 36.7% a year. The last full year, FY26, came in at ₹209 Cr. The last four reported quarters add to ₹355 Cr.

CFF Fluid Control Ltd reported ₹105 Cr of revenue in the Mar 26 quarter, +59.1% year on year. That is the 6th straight quarter of year-on-year growth. Over 6 years it has compounded at 36.7% a year. The last full year, FY26, came in at ₹209 Cr. The last four reported quarters add to ₹355 Cr.

FY26 revenue came in at ₹209 Cr (+43.2% on the year), capping 6 years at 36.7% compound. The latest quarter (Mar 26) printed ₹105 Cr, +59.1% year on year — the 6th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +41.3% growth against the decade's 36.7% — the current year is running faster than its own long-run rate.

→ Revenue grew — did margins hold as it scaled? Next: 28.0% this quarter (+1.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

CFF Fluid Control Ltd's operating margin is 28.0% in the Mar 26 quarter, +1.0 percentage points against the same quarter a year ago. Across the last four quarters the operating margin has moved +0.0 percentage points. Across 7 fiscal years the operating margin has ranged 16.0% to 29.0%. The current quarter sits inside that band.

CFF Fluid Control Ltd's operating margin is 28.0% in the Mar 26 quarter, +1.0 percentage points against the same quarter a year ago. Across the last four quarters the operating margin has moved +0.0 percentage points. Across 7 fiscal years the operating margin has ranged 16.0% to 29.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 28.0%, +1.0 pp against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 16.0%–29.0%.

Why the margin moved: operating margin went +0.9 pp year on year while gross margin went −2.5 pp — the gain came mostly from the gross line: input costs and pricing.

→ Margins held — did that reach the bottom line? Next: profit +100.0% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

CFF Fluid Control Ltd earned ₹20.0 Cr of net profit in the Mar 26 quarter, +100.0% year on year. It is the 6th consecutive quarter of growth. Full-year FY26 profit was ₹39.0 Cr. The 6-year compound rate is 84.2%. That is 19.0% of the quarter's revenue. The same quarter a year earlier earned ₹7.0 Cr.

CFF Fluid Control Ltd earned ₹20.0 Cr of net profit in the Mar 26 quarter, +100.0% year on year. It is the 6th consecutive quarter of growth. Full-year FY26 profit was ₹39.0 Cr. The 6-year compound rate is 84.2%. That is 19.0% of the quarter's revenue. The same quarter a year earlier earned ₹7.0 Cr.

Mar 26 profit was ₹20.0 Cr, +100.0% year on year — the 6th consecutive quarter of growth. On the full year, FY26 printed ₹39.0 Cr (+62.5%), and the 6-year compound rate is 84.2%.

Why profit moved: revenue contributed +59.1% and the margin +1.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +54.7% vs revenue +41.3%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: −70% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −70% of CFF Fluid Control Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−26.0 Cr of operating cash against ₹39.0 Cr of profit. After ₹10.0 Cr of capital spending, ₹−36.0 Cr was left as free cash.

FY26: operating cash of ₹−26.0 Cr against reported profit of ₹39.0 Cr, leaving free cash of ₹−36.0 Cr after ₹10.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −70% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

🚨 Why conversion sits at −70%: the cash cycle tightened 379 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: the bigger cash user is investment — capital spending ran 2.0× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹32.0 Cr of building over 3 years.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

CFF Fluid Control Ltd's cash conversion cycle runs 308 days in FY26, down from 687 days in FY21. Capital spending ran ₹32.0 Cr over the last 3 years. At FY26 sales of ₹209 Cr each day of that cycle holds about ₹0.6 Cr, so roughly ₹176 Cr sits inside the business at any moment.

FY26: debtors at 183 days, inventory at 197 days — roughly 6.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 308 days, tighter than FY21's 687.

The full loop: cash goes out to suppliers and production on day 0; stock waits 197 days to sell; customers pay about 183 days after that; and suppliers themselves are paid at 72 days — netting out to the 308-day cycle.

In money terms: at FY26 sales of ₹209 Cr, each day of the cycle holds about ₹0.6 Cr — so the 308-day loop keeps roughly ₹176 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹32.0 Cr over the last 3 fiscal years against ₹16.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹11.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 24%.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

CFF Fluid Control Ltd earns a ROCE of 24% in FY26. That is up from a trough of 8% in FY21. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 18.7% net margin on 0.66× asset turns.

FY26 ROCE is 24%, recovered from a FY21 trough of 8% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 18.7% net margin × 0.66× asset turns × 1.19× balance-sheet leverage ≈ 14.7% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.08.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

CFF Fluid Control Ltd carries ₹20.0 Cr of borrowings against ₹266 Cr of equity in FY26, a debt-to-equity of 0.08. Operating profit covers the interest bill 59×. Over 5 years borrowings went from ₹23.0 Cr to ₹20.0 Cr. Capital spending ran ₹32.0 Cr across the last 3 of those years.

FY26: borrowings of ₹20.0 Cr against equity of ₹266 Cr — a debt-to-equity of 0.08. Operating profit covers the interest bill 59×. Over 5 years borrowings went from ₹23.0 Cr to ₹20.0 Cr while capital spending ran ₹32.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

→ Who owns this, and are they adding or leaving? Next: Promoters cut 5.2 points over 6 quarters.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 5.2 points of CFF Fluid Control Ltd over 6 quarters, the biggest move on the register. That takes promoters to 68.1% of the company. Domestic institutions moved −0.7 points over the same window, to 0.7%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −5.2 points over 6 quarters to 68.1%; Domestic institutions: −0.7 points over 6 quarters to 0.7%; Foreign institutions: +0.0 points over 6 quarters to 0.0%.

🚨 Why the register moved: promoters drove it (−5.2 points), alongside domestic institutions (−0.7 points) — distribution into the market’s bid.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

CFF Fluid Control Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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