CFF Fluid Control Ltd (CFF) — share price & stock analysis
Profits have nearly doubled in two years, the price has kept pace — no more, no less, and it still trades cheap against its own history.
CFF Fluid Control Ltd (CFF) trades at ₹540 as of 6 March 2026, up 17% over the past year — trailing NIFTY 500 for 16 weeks. The machine reads this as steady growth, cheap vs history: profits have nearly doubled in two years, the price has kept pace — no more, no less, and it still trades cheap against its own history. It trades at a P/E of 39.1× (the 8th percentile of its own range); the price is in Stage 4 — declining, 9 weeks in; the business cycle reads DEEP CYCLICAL / EXPANSION. Fundamentals-momentum score: 75/100 (mostly improving).
Data as of 6 March 2026 · every number traces to its Screener source column · not investment advice.
- Market cap
- ₹1,132 Cr
- P/E
- 39.1×
- ROE
- 17.4%
- vs own history (since 2023)
- 8th pctile
- Book value / share
- ₹118
- EPS (TTM)
- ₹14.2
- 10-yr median P/E
- 54.0×
- Revenue (FY25)
- ₹146 Cr
- Profit after tax (FY25)
- ₹24 Cr
- Weinstein stage
- Stage 4 (9 weeks)
- Data as of
- 6 March 2026
Profits swing violently in this business — a 100% peak-to-trough profit collapse. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.net_profit
Where the clock stands now: earnings sit at 100% of their historical range, margins are near the top of their band, and the market pays the cheap end of its range (8th percentile). That reads as EXPANSION — the comfortable middle — but the records are already on the table; from here the bet is that they keep coming.net_profit
3 of the 5 things we track are currently moving the right way — nearly everything is pulling in the same direction.
Where the levels actually stand: ROCE 22% — a high-quality engine; effectively no debt; margins near the top of their band. Momentum says which way things are moving; these say where they are.
Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.
Price and profits are moving together
Since Jul 2023, the stock is up 71% and earnings per share are up 73% — the price has tracked the profits, not run ahead of them.pricettm_eps
The market is paying for delivery, not promises. What you see in earnings is what you get in the price.
Today’s P/E of 39.1× sits near the bottom of its own range — it has been cheaper than this only 8% of the time against its own history since 2023.pe_ratio
Data: Price, EPS and valuation (sampled — full series in the embedded dataset)
| Period | Price (₹) | EPS (TTM) (₹) | P/E (×) |
|---|---|---|---|
| Jul 23 | 247 | – | 2.3 |
| Aug 23 | 384 | 7.1 | 54.0 |
| Sep 23 | 449 | 7.1 | 63.2 |
| Sep 23 | 403 | 7.1 | 56.8 |
| Oct 23 | 388 | 7.1 | 54.5 |
| Nov 23 | 440 | 7.8 | 56.3 |
| Nov 23 | 419 | 7.8 | 53.6 |
| Dec 23 | 435 | 7.8 | 55.7 |
| Jan 24 | 418 | 7.8 | 53.5 |
| Jan 24 | 516 | 7.8 | 66.1 |
| Feb 24 | 500 | 7.8 | 64.0 |
| Mar 24 | 441 | 7.8 | 56.4 |
| Mar 24 | 409 | 7.8 | 52.3 |
| Apr 24 | 428 | 7.8 | 54.8 |
| May 24 | 421 | 7.8 | 53.9 |
| May 24 | 452 | 8.8 | 51.5 |
| Jun 24 | 823 | 8.8 | 93.7 |
| Jul 24 | 860 | 8.8 | 98.0 |
| Aug 24 | 787 | 8.8 | 89.6 |
| Aug 24 | 699 | 8.8 | 79.7 |
| Sep 24 | 756 | 8.8 | 86.1 |
| Oct 24 | 624 | 8.8 | 71.0 |
| Oct 24 | 547 | 8.8 | 62.4 |
| Nov 24 | 586 | 10.8 | 54.3 |
| Dec 24 | 702 | 10.8 | 65.0 |
| Dec 24 | 698 | 10.8 | 64.6 |
| Jan 25 | 687 | 10.8 | 63.6 |
| Feb 25 | 578 | 10.8 | 53.5 |
| Feb 25 | 408 | 10.8 | 37.8 |
| Mar 25 | 442 | 10.8 | 41.0 |
| Apr 25 | 456 | 10.8 | 42.2 |
| May 25 | 513 | 12.3 | 41.9 |
| May 25 | 555 | 12.3 | 45.3 |
| Jun 25 | 605 | 12.3 | 49.4 |
| Jul 25 | 658 | 12.2 | 53.8 |
| Jul 25 | 632 | 12.2 | 51.6 |
| Aug 25 | 623 | 12.2 | 50.9 |
| Sep 25 | 646 | 12.3 | 52.7 |
| Sep 25 | 613 | 12.3 | 50.0 |
| Oct 25 | 618 | 12.3 | 50.4 |
| Nov 25 | 670 | 12.3 | 54.7 |
| Nov 25 | 616 | 14.2 | 43.5 |
| Dec 25 | 558 | 14.1 | 39.5 |
| Jan 26 | 582 | 14.2 | 41.1 |
| Feb 26 | 552 | 14.2 | 39.0 |
| Feb 26 | 530 | 14.1 | 37.5 |
| Mar 26 | 540 | 14.2 | 38.1 |
Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots; between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/E — what the market pays per rupee of profit; the dotted line is its long-run median (54×).
The price is in a downtrend — fighting it is expensive
STAGE 4 · DECLINING · 9 WEEKSStock prices move through four repeating stages: basing (1), advancing (2), topping (3) and declining (4). This one is in Stage 4: declining, 9 weeks in, confirmed.stage
The price is below its falling 200-day average — history says most of the damage in stocks happens here. Cheap can get cheaper in Stage 4.dma_200
Trailing NIFTY 500 for 16 weeks — relative strength is the market’s live opinion, and right now it is against it.rs_mansfield
What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200
Data: Weekly price, moving averages and stage (sampled — full series in the embedded dataset)
| Period | Price (₹) | 200-DMA (₹) | 50-DMA (₹) | Stage |
|---|---|---|---|---|
| Jun 23 | 166 | 183 | 182 | 4 |
| Jul 23 | 258 | 186 | 193 | 4 |
| Jul 23 | 316 | 197 | 226 | 2 |
| Aug 23 | 365 | 217 | 281 | 2 |
| Sep 23 | 456 | 244 | 342 | 2 |
| Sep 23 | 409 | 265 | 369 | 2 |
| Oct 23 | 391 | 282 | 378 | 2 |
| Nov 23 | 462 | 300 | 397 | 2 |
| Dec 23 | 446 | 316 | 411 | 2 |
| Dec 23 | 419 | 332 | 420 | 2 |
| Jan 24 | 446 | 345 | 423 | 2 |
| Feb 24 | 502 | 365 | 456 | 2 |
| Feb 24 | 519 | 384 | 478 | 2 |
| Mar 24 | 440 | 393 | 462 | 2 |
| Apr 24 | 428 | 397 | 449 | 2 |
| Apr 24 | 453 | 403 | 446 | 2 |
| May 24 | 492 | 409 | 447 | 2 |
| Jun 24 | 463 | 417 | 455 | 2 |
| Jun 24 | 808 | 456 | 572 | 2 |
| Jul 24 | 793 | 508 | 692 | 2 |
| Aug 24 | 742 | 546 | 730 | 2 |
| Aug 24 | 705 | 567 | 720 | 2 |
| Sep 24 | 673 | 586 | 712 | 2 |
| Oct 24 | 623 | 592 | 676 | 2 |
| Nov 24 | 654 | 590 | 634 | 2 |
| Nov 24 | 601 | 594 | 627 | 2 |
| Dec 24 | 728 | 608 | 660 | 2 |
| Jan 25 | 701 | 619 | 674 | 2 |
| Jan 25 | 617 | 626 | 671 | 2 |
| Feb 25 | 489 | 617 | 619 | 2 |
| Mar 25 | 463 | 593 | 539 | 4 |
| Mar 25 | 430 | 573 | 496 | 4 |
| Apr 25 | 484 | 561 | 482 | 4 |
| May 25 | 523 | 555 | 497 | 4 |
| May 25 | 555 | 555 | 522 | 4 |
| Jun 25 | 593 | 563 | 565 | 4 |
| Jul 25 | 631 | 575 | 602 | 2 |
| Aug 25 | 626 | 584 | 619 | 2 |
| Aug 25 | 644 | 589 | 621 | 2 |
| Sep 25 | 625 | 596 | 629 | 2 |
| Oct 25 | 641 | 601 | 631 | 2 |
| Oct 25 | 648 | 605 | 632 | 2 |
| Nov 25 | 681 | 613 | 647 | 2 |
| Dec 25 | 608 | 614 | 634 | 2 |
| Dec 25 | 550 | 607 | 603 | 2 |
| Jan 26 | 573 | 603 | 591 | 4 |
| Feb 26 | 522 | 594 | 566 | 4 |
| Feb 26 | 532 | 585 | 551 | 4 |
| Mar 26 | 540 | 583 | 548 | 4 |
4 of 5 years up since listing — good compounding, but a short book
Over 5 years, sales went from ₹32.0 Cr to ₹146 Cr (about 36% a year), and profit from ₹1.0 Cr to ₹24.0 Cr.revenuenet_profit
Margins widened 12.5 points along the way — growth with improving economics.operating_profit
Data: Revenue by year
| Period | Revenue (₹ Cr) |
|---|---|
| FY20 | 32 |
| FY21 | 15 |
| FY22 | 47 |
| FY23 | 71 |
| FY24 | 107 |
| FY25 | 146 |
Data: Profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| FY20 | 1 |
| FY21 | 0 |
| FY22 | 8 |
| FY23 | 10 |
| FY24 | 17 |
| FY25 | 24 |
Data: OPM % by year
| Period | OPM % (%) |
|---|---|
| FY20 | 15.6 |
| FY21 | 20.0 |
| FY22 | 27.7 |
| FY23 | 25.4 |
| FY24 | 29.0 |
| FY25 | 28.1 |
Sales jumped 30% last quarter — the 5th straight quarter of growth
Sep 25 sales were ₹104 Cr, up 30% on the same quarter last year.revenue
That makes 5 quarters of growth in a row — this is a trend, not a blip.revenue
Data: Quarterly sales
| Period | Revenue (₹ Cr) | YoY growth (%) |
|---|---|---|
| Sep 22 | 39.0 | – |
| Mar 23 | 32.0 | – |
| Sep 23 | 59.0 | 51.3 |
| Mar 24 | 47.0 | 46.9 |
| Sep 24 | 80.0 | 35.6 |
| Mar 25 | 66.0 | 40.4 |
| Sep 25 | 104 | 30.0 |
Margins have been rebuilt — 15.6% in FY20 to 28.1% now
Of every ₹100 of sales, the company keeps ₹28.2 as operating profit (a year ago it kept ₹28.7).opm_pct
Zoom out and this is the page's quiet hero: annual operating margin bottomed at 15.6% in FY20 and has been rebuilt to 28.1% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit
Data: Three margins, quarterly
| Period | Gross (%) | Operating (%) | Net (%) |
|---|---|---|---|
| Sep 22 | 29.2 | 25.8 | 16.4 |
| Mar 23 | 45.2 | 26.3 | 11.8 |
| Sep 23 | 41.5 | 29.8 | 17.0 |
| Mar 24 | 58.0 | 27.5 | 14.7 |
| Sep 24 | 40.3 | 28.7 | 17.6 |
| Mar 25 | 68.7 | 27.2 | 15.0 |
| Sep 25 | 43.1 | 28.2 | 18.4 |
Profit jumped 36% — mostly from selling more
Sep 25 profit after tax was ₹19.0 Cr, up 36% year on year.net_profit
Data: Quarterly profit after tax
| Period | PAT (₹ Cr) | YoY growth (%) |
|---|---|---|
| Sep 22 | 6.0 | – |
| Mar 23 | 4.0 | – |
| Sep 23 | 10.0 | 66.7 |
| Mar 24 | 7.0 | 75.0 |
| Sep 24 | 14.0 | 40.0 |
| Mar 25 | 10.0 | 42.9 |
| Sep 25 | 19.0 | 35.7 |
The single biggest driver was selling more.
Data: Where the profit change came from (Sep 24 → Sep 25)
| Component | Effect (₹ Cr) |
|---|---|
| PAT Sep 24 | 14 |
| More sales | +7 |
| Thinner margins | −1 |
| Tax | −2 |
| Everything else | +1 |
| PAT Sep 25 | 19 |
Profits on paper, cash lagging behind
Over the last 4 profitable years, the business reported ₹59.0 Cr of profit and collected ₹−24.0 Cr of operating cash — about -41% conversion (1 loss year excluded — a negative denominator would flatter the ratio).operating_cash_flownet_profit
The wrinkle is the latest year: FY25 collected ₹−3.0 Cr against ₹24.0 Cr of reported profit — about -12%. One year isn’t a trend, but it is the line to watch.operating_cash_flownet_profit
The gap sits in receivables: customers now take 150 days to pay, up from 30. Profit booked, cash pending.debtor_days
Data: Cash collected vs profit reported (annual)
| Period | Operating cash flow (₹ Cr) | Profit after tax (₹ Cr) |
|---|---|---|
| FY20 | 20.0 | 1.0 |
| FY21 | -7.0 | 0.0 |
| FY22 | 15.0 | 8.0 |
| FY23 | -9.0 | 10.0 |
| FY24 | -27.0 | 17.0 |
| FY25 | -3.0 | 24.0 |
The cash cycle is stretching — more money stuck in the pipeline
One rupee now takes about 433 days to go out the door as materials and come back as collected cash — up from 365 days the year before.cash_conversion_cycle
The biggest mover: customers taking longer to pay (30 → 150 days).debtor_days
Data: Days of cash locked up (annual)
| Period | Customers owe (debtor days) (days) | Stock on shelf (inventory days) (days) | We owe suppliers (payable days) (days) |
|---|---|---|---|
| FY20 | 41.0 | 282 | 134 |
| FY21 | 166 | 746 | 225 |
| FY22 | 102 | 244 | 230 |
| FY23 | 42.0 | 307 | 77.0 |
| FY24 | 30.0 | 351 | 16.0 |
| FY25 | 150 | 376 | 93.0 |
The asset base keeps compounding — this company builds
The productive asset base has gone from ₹10.0 Cr (FY20) to ₹36.0 Cr, with another ₹2.0 Cr of capacity under construction right now.fixed_assetscwip
The build is bigger than the cash engine: investing outflows (₹41.0 Cr) exceeded operating cash (₹−39.0 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow
Data: Assets in place vs under construction (annual)
| Period | Fixed assets (₹ Cr) | Under construction (CWIP) (₹ Cr) |
|---|---|---|
| FY20 | 10.0 | 0.0 |
| FY21 | 9.0 | 0.0 |
| FY22 | 8.0 | 0.0 |
| FY23 | 26.0 | 0.0 |
| FY24 | 30.0 | 8.0 |
| FY25 | 36.0 | 2.0 |
Almost no debt — this company cannot be killed by a bad year
For every ₹100 shareholders have put in (and left in), the company has borrowed ₹14 — total borrowings have grown from ₹14.0 Cr to ₹21.0 Cr over the window.borrowings
Data: Total borrowings (annual)
| Period | Borrowings (₹ Cr) |
|---|---|
| FY20 | 14.0 |
| FY21 | 23.0 |
| FY22 | 17.0 |
| FY23 | 46.0 |
| FY24 | 23.0 |
| FY25 | 21.0 |
Data: Debt vs shareholders’ money (annual)
| Period | Debt ÷ equity (x) |
|---|---|
| FY20 | 2.1 |
| FY21 | 3.4 |
| FY22 | 1.2 |
| FY23 | 1.8 |
| FY24 | 0.2 |
| FY25 | 0.1 |
Every ₹100 kept in the business earns ₹22 — a high-quality engine
Return on capital employed is 22.0% (a year ago: 24.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct
Data: Returns on capital (annual)
| Period | ROCE (%) |
|---|---|
| FY21 | 8.0 |
| FY22 | 38.0 |
| FY23 | 34.0 |
| FY24 | 24.0 |
| FY25 | 22.0 |
Promoter holding dropped in one step — an event, not a slow exit
Promoters hold 68.1% (down 5.2 points over 6 quarters). Foreign funds own 0.0%, domestic funds 0.5%.promoters_pctfiis_pctdiis_pct
The promoter move came in a single step (Sep 25) — promoters rarely buy on-market, so a jump like this is almost always an allotment, infusion or restructuring: a capital event, not a slow accumulation of conviction. Worth knowing which, before reading it as a signal.promoters_pct
Data: Who holds the shares, quarterly
| Period | Promoters (%) | Foreign funds (%) | Domestic funds (%) |
|---|---|---|---|
| Jun 23 | 73.3 | 0.0 | 1.3 |
| Sep 23 | 73.3 | 0.1 | 0.0 |
| Mar 24 | 73.3 | 0.0 | 0.1 |
| Sep 24 | 73.3 | 0.0 | 0.0 |
| Mar 25 | 73.3 | 0.0 | 0.1 |
| Sep 25 | 68.1 | 0.0 | 0.5 |
- Foreign funds have neither piled in nor fled — their stake has held near 0.0% for 6 quarters. No smart-money signal, in either direction.fiis_pct
A good business — the question is the price
The numbers are genuinely mixed, and the price is roughly fair to the delivery so far.
Best thing in the data: cash generation rising (₹−27.0 Cr → ₹−3.0 Cr).operating_cash_flow
Biggest worry: returns on capital falling (24.0% → 22.0%).roce_pct
Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.
Straight answers from the data
What does CFF Fluid Control Ltd do?
Incorporated in 2012, CFF Fluid Control Ltd is in the business of manufacturing, overhaul, repairs, and maintenance of shipboard machinery, combat system, reference system, test facilities (pneumatic, hydraulic, electrical, electrical systems) for submarines and surface ships for Indian Navy. It is listed in the Shipping - Proxy sector with a market capitalisation of ₹1,132 Cr.
What is CFF Fluid Control Ltd's share price?
As of 6 March 2026, CFF Fluid Control Ltd trades at ₹540, up 17% over the past year, with a market capitalisation of ₹1,132 Cr. Trailing NIFTY 500 for 16 weeks. Prices are weekly closes from Screener data; this page refreshes with each weekly update.
What is CFF Fluid Control Ltd's share price target?
Sector Alpha does not publish broker-style price targets. Our discounted-cash-flow model estimates CFF Fluid Control Ltd's intrinsic value at ₹1,170 per share under base assumptions (bear ₹415, bull ₹1,170), against the current price of ₹540 — a 117% margin of safety. These are model estimates, not forecasts — treat them as one input alongside the valuation history below, not as a target.
Is CFF Fluid Control Ltd stock overvalued or undervalued?
CFF Fluid Control Ltd trades at a P/E of 39.1× — the 8th percentile of its own 2.6-year trading range (median 54.0×), which is cheap against its own history. Price and profits are moving together. Since Jul 2023, the stock is up 71% and earnings per share are up 73% — the price has tracked the profits, not run ahead of them. Note the short 2.6-year valuation record. One caveat: margins are currently at the top of their own historical band, so the earnings behind that multiple may themselves be at a cyclical high — the stock is cheaper than its history partly because the E is fatter than usual.
What did CFF Fluid Control Ltd report in its latest quarterly results?
In its most recent reported quarter (Q2 FY26, quarter ended September 2025): Sep 25 sales were ₹104 Cr, up 30% on the same quarter last year. Sep 25 profit after tax was ₹19.0 Cr, up 36% year on year. Figures are from Screener-scraped quarterly filings; the page updates when the next quarter is filed.
Is CFF Fluid Control Ltd growing?
Sales jumped 30% last quarter — the 5th straight quarter of growth. Sep 25 sales were ₹104 Cr, up 30% on the same quarter last year.
Are CFF Fluid Control Ltd's profits growing?
Profit jumped 36% — mostly from selling more. Sep 25 profit after tax was ₹19.0 Cr, up 36% year on year.
What are CFF Fluid Control Ltd's operating margins?
Margins have been rebuilt — 15.6% in FY20 to 28.1% now. In the most recent quarter, of every ₹100 of sales, the company keeps ₹28.2 as operating profit (a year ago it kept ₹28.7).
What is CFF Fluid Control Ltd's long-term growth record?
Revenue grew from ₹32 Cr in FY20 to ₹146 Cr in FY25 — a 35.5% compound annual growth rate over 5 years. Profit after tax compounded at 88.8% over the same period (₹1 Cr → ₹24 Cr).
Is CFF Fluid Control Ltd stock in an uptrend?
The price is in a downtrend — fighting it is expensive. CFF Fluid Control Ltd is in Stage 4 — declining, 9 weeks in (confirmed). Stages follow Stan Weinstein's four-phase read of weekly price against the 200-day average: basing (1), advancing (2), topping (3), declining (4).
Is CFF Fluid Control Ltd beating the NIFTY 500?
No — trailing NIFTY 500 for 16 weeks, as of 6 March 2026. Relative strength is measured weekly against the NIFTY 500 (Mansfield RS): a positive reading means the stock has outperformed the index over the trailing window, week after week.
Where is CFF Fluid Control Ltd in its business cycle?
The data reads CFF Fluid Control Ltd as a deep cyclical business currently in its expansion phase — earnings at an all-time high for this company, valuation at the 8th percentile. Profits swing violently in this business — a 100% peak-to-trough profit collapse. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.
Who owns CFF Fluid Control Ltd — what is the promoter holding?
Promoters hold 68.1% (down 5.2 points over 6 quarters). Foreign funds own 0.0%, domestic funds 0.5%. The promoter move came in a single step (Sep 25) — promoters rarely buy on-market, so a jump like this is almost always an allotment, infusion or restructuring: a capital event, not a slow accumulation of conviction. Worth knowing which, before reading it as a signal. Shareholding is from Screener's quarterly filings data.
Does CFF Fluid Control Ltd have too much debt?
Almost no debt — this company cannot be killed by a bad year. For every ₹100 shareholders have put in (and left in), the company has borrowed ₹14 — total borrowings have grown from ₹14.0 Cr to ₹21.0 Cr over the window.
What is the bull case for CFF Fluid Control Ltd?
Profits have nearly doubled in two years, the price has kept pace — no more, no less, and it still trades cheap against its own history. Best thing in the data: cash generation rising (₹−27.0 Cr → ₹−3.0 Cr). Sales jumped 30% last quarter — the 5th straight quarter of growth.
What is the bear case for CFF Fluid Control Ltd — what could break the story?
Biggest worry: returns on capital falling (24.0% → 22.0%). Two quarters of profit reversing would kill this story. The nearest-term thing to watch: if quarterly growth slips below 15%, the story weakens. This falsification condition is stated up front so the thesis can be checked against incoming quarters, not defended after the fact.
Is CFF Fluid Control Ltd a stock worth studying right now?
Sector Alpha does not publish buy or sell recommendations — this is a research read, not advice. What the data says: a good business — the question is the price. The numbers are genuinely mixed, and the price is roughly fair to the delivery so far. Across the 7-model scorecard the composite research signal is on watch at 45% confidence. This is machine-written research compiled from Screener data — every number traces to its source — and it is not investment advice. Do your own diligence.