Orissa Minerals Development Company 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.

Orissa Minerals Development Company Ltd trades at ₹3,698, in a downtrend and 78 weeks into that stage. That is −15.1% against its own 200-day average. It sits at 17% of a 52-week range of ₹3,307 to ₹5,657. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).

Today the stock is in a downtrend — week 78 of stage 4, confirmed. At ₹3,698 it trades −15.1% versus its 200-day average and sits at 17% of its 52-week range (₹3,307–₹5,657).

Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +127% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-06-19) — 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 92nd 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.

Orissa Minerals Development Company Ltd trades at 987.6× P/E, at the pricey end of its own range (92nd percentile). Its long-run median P/E is 335.6×, measured across 9.6 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 987.6× is at the pricey end of its own range (92nd percentile), against a long-run median of 335.6× measured over 9.6 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 −5.3%/yr price move, ~+33.9%/yr came from earnings growth and ~−39.2 pp from the multiple (compressing). 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 full against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ 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).

Orissa Minerals Development Company 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

36.6/100 — rank 11 of 13 in Mining/Minerals · 59% evidence confidence

Orissa Minerals Development Company Ltd scores 36.6 out of 100 against the 13 companies it is compared with in Mining/Minerals, ranking 11. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 17.1 + 6 + 10 + 3.5 = 36.6. 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.

Orissa Minerals Development Company Ltd reported ₹29.0 Cr of revenue in the Mar 26 quarter, +331.5% year on year. The last full year, FY26, came in at ₹94.1 Cr. The last four reported quarters add to ₹94.1 Cr. A multi-year compound rate is not shown because the annual history behind it is too short to compute one honestly.

Orissa Minerals Development Company Ltd reported ₹29.0 Cr of revenue in the Mar 26 quarter, +331.5% year on year. The last full year, FY26, came in at ₹94.1 Cr. The last four reported quarters add to ₹94.1 Cr. A multi-year compound rate is not shown because the annual history behind it is too short to compute one honestly.

FY26 revenue came in at ₹94.1 Cr (+45.6% on the year). The latest quarter (Mar 26) printed ₹29.0 Cr, +331.5% year on year.

Acceleration check: trailing-twelve-month revenue grew +45.7% over the last 4 quarters against +6.9%/yr over the last 8 — accelerating.

→ Revenue grew — did margins hold as it scaled? Next: −32.2% this quarter (+511.5 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.

Orissa Minerals Development Company Ltd's operating margin is −32.2% in the Mar 26 quarter, +511.5 percentage points against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged −43.3% to 30.7%. The current quarter sits inside that band.

Orissa Minerals Development Company Ltd's operating margin is −32.2% in the Mar 26 quarter, +511.5 percentage points against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged −43.3% to 30.7%. The current quarter sits inside that band.

The latest quarter's operating margin is −32.2%, +511.5 pp against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged −43.3%–30.7%.

Why the margin moved: operating margin went +511.5 pp year on year while gross margin went −60.5 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

→ Margins held — 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.

Orissa Minerals Development Company Ltd posted a net loss of ₹7.6 Cr in the Mar 26 quarter. The full FY26 year was a loss of ₹2.9 Cr. That loss is 26.2% of the quarter's revenue. The same quarter a year earlier lost ₹31.7 Cr. 6 of the last 12 reported quarters were loss-making.

Orissa Minerals Development Company Ltd posted a net loss of ₹7.6 Cr in the Mar 26 quarter. The full FY26 year was a loss of ₹2.9 Cr. That loss is 26.2% of the quarter's revenue. The same quarter a year earlier lost ₹31.7 Cr. 6 of the last 12 reported quarters were loss-making.

Mar 26 profit was ₹−7.6 Cr, null year on year. On the full year, FY26 printed ₹−2.9 Cr (null).

→ Profit rose — but did the cash follow? Next: −583% 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 −583% of Orissa Minerals Development Company Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹35.0 Cr of operating cash against ₹−2.9 Cr of profit. After ₹75.0 Cr of capital spending, ₹−40.0 Cr was left as free cash.

FY26: operating cash of ₹35.0 Cr against reported profit of ₹−2.9 Cr, leaving free cash of ₹−40.0 Cr after ₹75.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −583% 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 −583%: the cash cycle tightened 1,006 days between FY22 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 18.8× 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: ₹188 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).

Orissa Minerals Development Company Ltd's cash conversion cycle runs 0 days in FY26, down from 1,006 days in FY22. Capital spending ran ₹188 Cr over the last 3 years. At FY26 sales of ₹94.1 Cr each day of that cycle holds about ₹0.3 Cr, so roughly ₹0.0 Cr sits inside the business at any moment.

FY26: debtors at 0 days (an asset-light business — no inventory to speak of) — for a full cycle of 0 days, tighter than FY22's 1,006.

In money terms: at FY26 sales of ₹94.1 Cr, each day of the cycle holds about ₹0.3 Cr — so the 0-day loop keeps roughly ₹0.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹188 Cr over the last 3 fiscal years against ₹10.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹187 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 10% and the ROIC − WACC spread is −3.4 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

Orissa Minerals Development Company Ltd earns a ROCE of 10% in FY26. That is up from a trough of −143% in FY19. Return on invested capital clears the cost of that capital by −3.4 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is −3.1% net margin on 0.16× asset turns.

FY26 ROCE is 10%, recovered from a FY19 trough of −143% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): −3.1% net margin × 0.16× asset turns × −10.61× balance-sheet leverage ≈ 5.3% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 8.6% − 12.0% = a −3.4 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 −3.88.

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

Orissa Minerals Development Company 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 17.33 in FY21 to −3.58 in FY25. The returns elsewhere on this page are therefore earned rather than borrowed.

Dec 25: total debt of ₹8.0 Cr against shareholder equity of ₹−51.0 Cr — a debt-to-equity of −0.16. On the annual view, debt-to-equity went from 17.33 (FY21) to −3.58 (FY25). The returns on this page are earned, not borrowed.

→ Who owns this, and are they adding or leaving? Next: Foreign institutions cut 1.1 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 1.1 points of Orissa Minerals Development Company Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 0.5% of the company. Domestic institutions moved −0.1 points over the same window, to 10.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −1.1 points over 8 quarters to 0.5%; Domestic institutions: −0.1 points over 8 quarters to 10.9%; Promoters: +0.0 points over 8 quarters to 50.0%.

🚨 Why the register moved: foreign institutions drove it (−1.1 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.

Orissa Minerals Development Company Ltd: the Z-score reads 2.16. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits in the grey band between the two. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.

Why it matters: a Z-score of 2.16 sits in the grey band — neither clearly safe nor clearly distressed.

The safety line in one sentence: the Z-score reads 2.16.

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