Omaxe 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.

Omaxe Ltd trades at ₹93.5, building a base and 5 weeks into that stage. That is +15.9% against its own 200-day average. It sits at 100% of a 52-week range of ₹65 to ₹94. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.

Today the stock is building a base — week 5 of stage 1, confirmed. At ₹93.5 it trades +15.9% versus its 200-day average and sits at 100% of its 52-week range (₹65–₹94).

Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved −34% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 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 0th 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.

Omaxe Ltd trades at 24.8× P/E, about the cheapest it has ever traded. Its long-run median P/E is 55.2×, measured across 4.4 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 24.8× is about the cheapest it has ever traded, against a long-run median of 55.2× measured over 4.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

The price move, decomposed: over 3y, of the +24.7%/yr price move, ~−22.0%/yr came from earnings growth and ~+46.7 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 low 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).

Omaxe 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 10 quarters across 1 curve, on partial evidence.

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

The return-on-capital curve is not shown — net worth is negative, so a return on capital is not a meaningful number in any basis. This is a distressed balance sheet, and the stage is read from the growth curves alone.

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.

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

34.8/100 — rank 22 of 26 in Realty - Construction & Contracting · 59% evidence confidence

Omaxe Ltd scores 34.8 out of 100 against the 26 companies it is compared with in Realty - Construction & Contracting, ranking 22. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 8.6 + 1.6 + 10 + 14.6 = 34.8. 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.

Omaxe Ltd reported ₹349 Cr of revenue in the Mar 26 quarter, −35.5% year on year. Over 10 years it has compounded at −1.0% a year. The last full year, FY26, came in at ₹1,253 Cr. The last four reported quarters add to ₹1,254 Cr.

Omaxe Ltd reported ₹349 Cr of revenue in the Mar 26 quarter, −35.5% year on year. Over 10 years it has compounded at −1.0% a year. The last full year, FY26, came in at ₹1,253 Cr. The last four reported quarters add to ₹1,254 Cr.

FY26 revenue came in at ₹1,253 Cr (−19.7% on the year), capping 10 years at −1.0% compound. The latest quarter (Mar 26) printed ₹349 Cr, −35.5% year on year.

Pace check: the last four quarters averaged −16.5% growth against the decade's −1.0% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −19.7% over the last 4 quarters against −11.9%/yr over the last 8 — rolling over.

→ Revenue slipped — did margins hold as it scaled? Next: −58.0% this quarter (−38.0 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.

Omaxe Ltd's operating margin is −58.0% in the Mar 26 quarter, −38.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −56.0% to 18.0%. The current quarter is running below every full year in that window.

Omaxe Ltd's operating margin is −58.0% in the Mar 26 quarter, −38.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −56.0% to 18.0%. The current quarter is running below every full year in that window.

The latest quarter's operating margin is −58.0%, −38.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −56.0%–18.0%.

🚨 Why the margin moved: operating margin went −38.3 pp year on year while gross margin went −26.1 pp — the loss came mostly from the gross line: input costs and pricing.

→ Margins slipped — did that reach the bottom line? Next: profit null 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.

Omaxe Ltd posted a net loss of ₹191 Cr in the Mar 26 quarter. The full FY26 year was a loss of ₹697 Cr. That loss is 54.7% of the quarter's revenue. The same quarter a year earlier lost ₹149 Cr. 12 of the last 12 reported quarters were loss-making.

Omaxe Ltd posted a net loss of ₹191 Cr in the Mar 26 quarter. The full FY26 year was a loss of ₹697 Cr. That loss is 54.7% of the quarter's revenue. The same quarter a year earlier lost ₹149 Cr. 12 of the last 12 reported quarters were loss-making.

Mar 26 profit was ₹−191 Cr, null year on year. On the full year, FY26 printed ₹−697 Cr (null).

→ Profit rose — but did the cash follow? Next: 226% 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 226% of Omaxe Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹212 Cr of operating cash against ₹−697 Cr of profit. After ₹−401 Cr of capital spending, ₹613 Cr was left as free cash.

FY26: operating cash of ₹212 Cr against reported profit of ₹−697 Cr, leaving free cash of ₹613 Cr after ₹−401 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 226% 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 226%: the cash cycle stretched 2,042 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

→ So follow the cash to where it goes. Next: a 2,340-day cycle and ₹−286 Cr of building.

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).

Omaxe Ltd's cash conversion cycle runs 2,340 days in FY26, up from 298 days in FY21. Capital spending ran ₹−286 Cr over the last 3 years. At FY26 sales of ₹1,253 Cr each day of that cycle holds about ₹3.4 Cr, so roughly ₹8,033 Cr sits inside the business at any moment.

FY26: debtors at 77 days, inventory at 2,551 days — roughly 83.9 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 2,340 days, looser than FY21's 298.

The full loop: cash goes out to suppliers and production on day 0; stock waits 2,551 days to sell; customers pay about 77 days after that; and suppliers themselves are paid at 289 days — netting out to the 2,340-day cycle.

In money terms: at FY26 sales of ₹1,253 Cr, each day of the cycle holds about ₹3.4 Cr — so the 2,340-day loop keeps roughly ₹8,033 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹−286 Cr over the last 3 fiscal years against ₹126 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

→ Does all this activity actually earn its cost of capital? Next: ROCE is −110% and the ROIC − WACC spread is −97.3 pp.

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.⚠ unverified

Omaxe Ltd earns a ROCE of −110% in FY26. Return on invested capital clears the cost of that capital by −97.3 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is −55.6% net margin on 0.08× asset turns.

FY26 ROCE is −110%.

🚨 Why the return is what it is — the wiring (FY26): −55.6% net margin × 0.08× asset turns × −18.34× balance-sheet leverage ≈ 81.6% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: −85.3% − 12.0% = a −97.3 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is −1.63.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Omaxe Ltd's net worth is negative — it owes more than it owns — so a debt-to-equity ratio is not meaningful here. On the annual view that ratio went from 0.90 in FY22 to −1.64 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹1,466 Cr against shareholder equity of ₹−893 Cr — a debt-to-equity of −1.64. On the annual view, debt-to-equity went from 0.90 (FY22) to −1.64 (FY26). The returns on this page are earned, not borrowed.

→ Who owns this, and are they adding or leaving? Next: Foreign institutions cut 1.8 points over 8 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.

Foreign institutions cut 1.8 points of Omaxe Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 5.3% of the company. Domestic institutions moved −0.9 points over the same window, to 1.4%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −1.8 points over 8 quarters to 5.3%; Domestic institutions: −0.9 points over 8 quarters to 1.4%; Promoters: +0.0 points over 8 quarters to 74.1%.

🚨 Why the register moved: foreign institutions drove it (−1.8 points), alongside domestic institutions (−0.9 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.

Omaxe 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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