Polo Queen Industrial and Fintech logo

Polo Queen Industrial and Fintech financials and balance sheet

BSE: 540717Commercial Services & SuppliesSmall Cap

Last close ₹7.05up ₹0.07 (1.00%)

Share price at the BSE close on 23 Oct 2026. Previous close ₹6.98.

52-week range of traded prices to 23 Oct 2026
₹6.81Low, 22 Oct 2026₹42.00High, 28 Oct 2025
Market cap
₹237 Cr1,695th largest listed
P/E
103.6
P/B
1.2
Dividend yield
Nonein the last 12 months
ROE
1.2%
ROCE
1.7%
Debt to equity
0.05
Volume, BSE
31,908

9 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Polo Queen Industrial and Fintech annual reports

Revenue, net profit and borrowings, ₹ crore

  • Revenue
  • Net profit
  • Borrowings
  • Loss
Peak revenue ₹80 Cr, year to Mar 2025A loss in 1 of the 9 years shown

Operating and net margin, per cent

  • Operating margin
  • Net margin

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

  1. Revenue76
  2. Materials and goods−58
  3. Employee costs−4.4
  4. Other expenses−9.4
  5. Operating profit4.3
  6. Depreciation−0.3
  7. Other income+1.0
  8. One-off items0.0
  9. Finance costs−1.4
  10. Profit before tax3.6
  11. Tax−1.0
  12. Net profit2.6

What the company owns

  • Plant, investments and other assets₹202 Cr
  • Receivables₹18 Cr
  • Inventory₹2 Cr
  • Cash and bank₹0 Cr

What pays for it: net worth and liabilities

  • Net worth₹193 Cr
  • Owed to suppliers₹17 Cr
  • Borrowings₹10 Cr
  • Other liabilities₹2 Cr

Polo Queen Industrial and Fintech business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Polo Queen Industrial and Fintech segment results by quarter

Revenue by segment

₹77 CrTotal
  • Trading₹75.9 Cr98.7% of total
  • Non Banking Financial Business₹1.0 Cr1.3% of total

Profit by segment

  • Trading₹4.22 Cr84.0% of total
  • Non Banking Financial Business₹0.80 Cr15.9% of total
  • IT/ITES₹0.00 Cr0.0% of total
  • Pharma₹0.00 Cr0.0% of total

Segment results by year

Consolidated, ₹ crore, years to March.

  • Trading

    Revenue, ₹ crore
    Profit, ₹ crore

  • Non Banking Financial Business

    Revenue, ₹ crore
    Profit, ₹ crore

  • IT/ITES

    Revenue, ₹ crore
    Profit, ₹ crore

  • Pharma

    Revenue, ₹ crore
    Profit, ₹ crore
₹ croreMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue of all businesses7218325778718277
Company revenue, as in its results5217325778688076
Revenue7218325778688076
Revenue growth–−75.0%79.0%75.9%37.7%−12.1%17.5%−5.7%
Profit11245344
Profit growth–−47.4%127.9%128.5%35.9%−35.9%28.3%−2.2%
Margin2.0%4.1%5.3%6.8%6.7%4.9%5.4%5.6%
Return on capital0.8%0.4%0.9%2.1%2.9%1.9%2.4%2.3%
Assets202201202212214204210212
Liabilities2323233231222729
Capital employed179179179180182182183183
Revenue00000211
00000000
00000000
Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Polo Queen Industrial and Fintech quarterly results

₹ croreMar 2018Mar 2019Filed 29 MayMar 2020Filed 29 JunMar 2021Filed 25 JunMar 2022Filed 9 JunMar 2023Filed 27 MayMar 2024Filed 1 AugMar 2025Filed 16 JunMar 2026Filed 1 Jun
Revenue from operations71.851.717.332.156.577.968.480.475.9
68.949.817.230.552.572.464.976.071.6
Materials and goods bought64.145.213.427.148.063.254.562.657.8
Employee costs1.11.21.11.01.21.53.24.64.4
Other expenses3.73.52.72.43.37.77.38.89.4
Operating profit before depreciation2.91.90.11.64.15.53.54.44.3
Operating margin4.1%3.7%0.8%5.1%7.2%7.0%5.1%5.5%5.6%
Materials, % of revenue89.3%87.3%77.1%84.3%84.8%81.2%79.6%77.8%76.2%
Employee costs, % of revenue1.5%2.3%6.4%3.0%2.1%1.9%4.7%5.7%5.8%
Other expenses, % of revenue5.1%6.7%15.7%7.6%5.9%9.9%10.6%11.0%12.4%
Depreciation and amortisation0.10.10.10.10.30.30.20.30.3
Operating profit after depreciation2.81.80.01.63.85.23.34.24.0
Other income0.20.40.70.20.10.32.21.21.0
Finance costs1.51.41.01.41.91.91.71.61.4
One-off items0.00.00.00.00.00.00.00.00.0
Profit before tax1.50.8−0.30.42.03.53.83.73.6
0.50.20.00.00.61.20.91.11.0
Net profit1.00.6−0.30.31.42.42.92.62.6
Other comprehensive income–0.0−0.21.10.4−0.4−0.5−0.30.0
Total comprehensive income–0.6−0.61.41.91.92.42.32.6
Net margin1.4%1.1%−1.9%1.0%2.5%3.0%4.2%3.3%3.4%

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ croreMar 2019Filed 29 MayMar 2020Filed 29 JunMar 2021Filed 25 JunMar 2022Filed 9 JunMar 2023Filed 27 MayMar 2024Filed 1 AugMar 2025Filed 16 JunMar 2026Filed 1 Jun
182181183184186188191193
Share capital6767676767676767
Reserves115114115117119121124126
1615151614151110
1312132326162122
9111097867
Total assets204204206216219212218223
194194195195197199199202
1110102122131921
Net debt1515151614141010
Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the year to Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ croreMar 2021Filed 25 JunMar 2022Filed 9 JunMar 2023Filed 27 MayMar 2024Filed 1 AugMar 2025Filed 16 JunMar 2026Filed 1 Jun
2.43.05.61.62.52.5
2.41.26.23.23.33.2
1.9−1.10.8−0.8−1.5−0.7
Receivables−0.4−9.7−1.810.5−7.2−2.7
Inventories0.0−0.30.0−0.40.00.5
Payables0.07.41.6−9.67.52.8
Other working capital2.31.51.0−1.3−1.8−1.3
Tax paid0.00.0−0.6−1.2−0.8−1.0
Interest paid0.01.90.01.70.01.4
Capital spending0.00.10.10.00.30.0
Free cash flow2.42.95.51.62.22.5
0.0−0.2−1.4−0.30.2−2.1
0.3−2.5−4.3−1.0−2.9−0.7
Dividends paid0.00.00.00.00.00.0
Shares bought back0.00.00.00.00.00.0
Shares issued0.00.00.00.00.00.0
Net change in cash2.70.3−0.10.3−0.2−0.2
Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2018, Mar 2019 and Mar 2020.

Per share

Consolidated, ₹ per share, years to March.

₹ per shareMar 2018Mar 2019Filed 29 MayMar 2020Filed 29 JunMar 2021Filed 25 JunMar 2022Filed 9 JunMar 2023Filed 27 MayMar 2024Filed 1 AugMar 2025Filed 16 JunMar 2026Filed 1 Jun
₹0.03₹0.02−₹0.01₹0.01₹0.04₹0.07₹0.09₹0.08₹0.08
As stated that year₹0.14₹0.09−₹0.05₹0.05₹0.04₹0.07₹0.09₹0.08₹0.08
₹0.03₹0.02−₹0.01₹0.01₹0.04₹0.07₹0.09₹0.08₹0.08
–₹5.41₹5.39₹5.44₹5.49₹5.54₹5.61₹5.68₹5.76
Shareholder yield–––0.0%0.0%0.0%0.0%0.0%0.0%
Market cap at the year end (₹ crore)74560794344651,3711,3701,848492
Every year is restated for later splits and bonuses, so they do not break the line. The figure the company stated that year is under each line it differs from.

Ratios

Consolidated, years to March.Polo Queen Industrial and Fintech PE ratio and valuation

RatioMar 2018Mar 2019Filed 29 MayMar 2020Filed 29 JunMar 2021Filed 25 JunMar 2022Filed 9 JunMar 2023Filed 27 MayMar 2024Filed 1 AugMar 2025Filed 16 JunMar 2026Filed 1 Jun
Revenue growth–−28.0%−66.5%85.2%76.1%37.7%−12.1%17.5%−5.7%
Operating profit growth–−34.8%−93.1%1,144.8%149.4%33.4%−35.5%26.3%−4.0%
Net profit growth–−42.1%––327.3%64.7%22.0%−8.2%−2.6%
Earnings per share growth–−35.7%––300.0%75.0%28.6%−11.1%0.0%
–0.3%−0.2%0.2%0.8%1.3%1.5%1.4%1.3%
––−0.5 pts0.4 pts0.6 pts0.5 pts0.3 pts−0.1 pts−0.1 pts
From the net margin––−0.9 pts0.3 pts0.3 pts0.2 pts0.5 pts−0.3 pts0.0 pts
From asset turnover––0.4 pts0.1 pts0.3 pts0.3 pts−0.2 pts0.2 pts−0.1 pts
From borrowing––0.0 pts0.0 pts0.0 pts0.0 pts0.0 pts0.0 pts0.0 pts
Return on capital employed–0.9%0.0%0.8%1.9%2.6%1.6%2.1%2.0%
Cash conversion–––709.9%209.7%236.8%55.4%94.9%99.1%
Interest cover1.91.30.01.12.02.71.92.62.8
Debt to equity–0.090.080.080.090.080.080.060.05
Receivable days–551478411088457188
Inventory days–1951251713171514
Payable days–53202100113954684109
Cash conversion cycle, days–21−59146162−7
Working capital days–263330301421129
Asset turnover–0.250.090.160.270.360.320.370.34
Assets per rupee of net worth–1.121.121.131.151.181.151.131.15
Sales per rupee of plant–0.290.100.180.310.420.370.440.41
Capital spending to depreciation–––0.110.390.260.000.940.02
Plant being built, % of plant in use–6.0%6.8%6.8%4.2%4.2%4.2%4.2%4.3%
No balance sheet is on record for the year to Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year
1.2%
Cash from operations against operating profit
59.7%
Measure10 years5 years3 years
Revenue growth, yearly rate–18.8%−0.9%
Profit growth, yearly rate–50.3%2.9%
Return on equity, average–1.3%1.4%
Return on capital employed, average–2.0%1.9%
Operating margin, average4.9%6.1%5.4%
Net margin, average2.0%3.3%3.6%
Asset turnover, average–0.330.35
Cash conversion cycle, days, average–64
Interest cover, average1.82.42.4
Debt to equity, average–0.070.06

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore5 years3 yearsLatest year
Cash from operations15.26.62.5
Cash from investing−3.8−2.2−2.1
Cash from financing−11.4−4.6−0.7
Capital spending0.40.30.0
Dividends paid0.00.00.0
Shares bought back0.00.00.0
Shares issued for cash0.00.00.0
Borrowings raised0.00.00.0
Borrowings repaid5.72.90.8

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

CheckMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9–––788575
Altman Z-scorePublished threshold 1.1–10.2610.2010.107.867.7910.529.358.86
Beneish M-scorePublished threshold −1.78–––−1.86−1.83−2.48−2.86−1.83−2.28
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets–––−0.97−0.66−0.860.73−0.010.96
Cash from operations to profit, 3 yearsPublished threshold 0.7 times–––––2.661.531.230.82
Receivables growth less revenue growthOur threshold 0 percentage points––56.79−79.8755.73−27.10−43.4568.0722.84
Inventory growth less cost-of-goods growthOur threshold 0 percentage points––49.43−102.10−60.73−30.9431.86−14.10−9.66
Other current assets growth less revenue growthOur threshold 5 per cent of revenue––0.050.86−0.210.051.35−0.970.04
Assets under construction, years of additionsOur threshold 2 years of additions––284.39807.141.59100.171,945.8828.911,415.18
Effective tax ratePublished threshold 17.16 per cent33.4025.04–11.9628.3833.3123.7629.1228.55
Tax charged less tax paid, % of profitOur threshold 10 percentage points––––27.4415.33−6.777.200.06
A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

DateAgencyBorrowing ratedRatingOutlookAmount, ₹ Cr
14 Oct 2025CRISIL Ratings Limited (opens in a new tab)Bank FacilitiesShort-term scaleCrisil A4+Rating Reaffirmed0.75
14 Oct 2025CRISIL Ratings Limited (opens in a new tab)Bank FacilitiesLong-term scaleCrisil BB-Rating ReaffirmedStable5
14 Oct 2025CRISIL Ratings Limited (opens in a new tab)Bank FacilitiesLong-term scaleCrisil BB-Rating ReaffirmedStable2
14 Oct 2025CRISIL Ratings Limited (opens in a new tab)Bank FacilitiesLong-term scaleCrisil BB-Rating ReaffirmedStable1
The latest rating on each borrowing. The agency's name opens its reasoning for the rating.