Exhicon Events Media Solutions Ltd (EXHICON) — share price & stock analysis

Market cap

₹731 Cr

P/E

19.7×

ROE

26.6%

vs own history (since 2023)

11th pctile

Book value / share

₹114

EPS (TTM)

₹27.5

10-yr median P/E

25.0×

Revenue (FY25)

₹144 Cr

Profit after tax (FY25)

₹30 Cr

Weinstein stage

Stage 2 (40 weeks)

Data as of

6 March 2026

4 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 35% — a high-quality engine; effectively no debt; margins at an all-time high. 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.

The business grew faster than the stock

Since Nov 2023, earnings per share grew 159% while the stock is up 55%. The business has outrun its own share price.pricettm_eps

When profits grow faster than the price, the stock quietly gets cheaper while doing better — the market hasn’t fully caught up.

Today’s P/E of 19.7× sits near the bottom of its own range — it has been cheaper than this only 11% of the time against its own history since 2023.pe_ratio

And the sharper caveat: today’s margins are the best this company has ever printed. The cheap multiple is only real if they hold — earnings at record profitability flatter every valuation ratio.operating_profit

Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots (the window starts at the first stable snapshot — earlier IPO-era share-count revisions are excluded, since they are not earnings events); 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 (25×).

Stage 2: the trend is up, and has been for 40 weeks

Price trends have a life cycle: they base (1), advance (2), top out (3) and decline (4). This chart is in Stage 2: advancing — 40 weeks so far, confirmed.stage

The price sits above its rising 200-day average (₹479 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200

Beating NIFTY 500 for 43 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.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

Profits have grown in 4 of the last 4 years — compounding so far, on a short record

Over 4 years, sales went from ₹9.0 Cr to ₹144 Cr (about 100% a year), and profit from ₹0.0 Cr to ₹30.0 Cr.revenuenet_profit

Margins widened 24.3 points along the way — growth with improving economics.operating_profit

Sales exploded 64% last quarter — the 6th straight quarter of growth

Sep 25 sales were ₹103 Cr, up 64% on the same quarter last year.revenue

That makes 6 quarters of growth in a row — this is a trend, not a blip.revenue

Margins are widening — 20% → 27% in a year

Of every ₹100 of sales, the company keeps ₹26.7 as operating profit (a year ago it kept ₹20.4).opm_pct

Zoom out and this is the page's quiet hero: annual operating margin bottomed at 0.0% in FY21 and has been rebuilt to 24.3% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit

The gross margin moved the same way (28% → 39%), so this is about input costs and pricing power — the raw-material equation improved.gpm_pctopm_pct

Profit exploded 100% — mostly from selling more

Sep 25 profit after tax was ₹22.0 Cr, up 100% year on year.net_profit

Profits on paper, cash lagging behind

Over the last 4 profitable years, the business reported ₹57.0 Cr of profit and collected ₹−11.0 Cr of operating cash — about -19% conversion (1 loss year excluded — a negative denominator would flatter the ratio).operating_cash_flownet_profit

The wrinkle is the latest year: FY25 collected ₹17.0 Cr against ₹30.0 Cr of reported profit — about 57%. One year isn’t a trend, but it is the line to watch.operating_cash_flownet_profit

The cash cycle is tightening — money comes home faster

One rupee now takes about 88 days to go out the door as materials and come back as collected cash — down from 133 days the year before.cash_conversion_cycle

The biggest mover: customers paying faster (133 → 88 days).debtor_days

The asset base keeps compounding — this company builds

The productive asset base has gone from ₹2.0 Cr (FY21) to ₹25.0 Cr.fixed_assetscwip

The build is bigger than the cash engine: investing outflows (₹−1.0 Cr) exceeded operating cash (₹−15.0 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow

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 ₹0 — total borrowings have shrunk from ₹2.0 Cr to ₹0.0 Cr over the window.borrowings

Promoters have trimmed their stake — 30.9 points over 7 quarters

Promoters hold 55.3% (down 30.9 points over 7 quarters). Foreign funds own 0.0%, domestic funds 3.5%.promoters_pctfiis_pctdiis_pct

A falling promoter stake is a red flag until explained — it can be a fund-raise or an exit; the difference matters.promoters_pct

Strong on the data — worth the deeper look if the story keeps its promises

The numbers lean positive, and the price hasn’t fully caught up with the improvement.

Best thing in the data: cash generation rising (₹−29.0 Cr → ₹17.0 Cr).operating_cash_flow

Biggest worry: free cash flow falling (₹23.0 Cr → ₹−36.0 Cr).operating_cash_flow

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