PVP Ventures financials and balance sheet

NSE: PVPBSE: 517556RealtySmall Cap

Formerly SSI

₹39.72₹1.84 (4.43%)BSE ₹39.89

Share price at the NSE close on 23 Oct 2026. Previous close ₹41.56.

52-week range of traded prices to 23 Oct 2026

₹23.00Low, 13 Mar 2026₹72.04High, 24 Sep 2026

Under NSE's long-term additional surveillance, stage I, on the list for 23 Oct 2026. The exchange puts a share here when its price has moved unusually, and trading in it carries extra conditions.

Market cap: ₹1,034 Cr1,629th largest listed
P/E: 207.1
P/E without one-offs: 54.7
P/B: 4.7
Dividend yield: Nonein the last 12 months
ROE: 2.3%
ROE without one-offs: 8.6%
ROCE: 1.4%
Debt to equity: 0.58
Volume, NSE: 11,61,08961.3% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.PVP Ventures annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹176 Cr, year to Mar 2023A loss in 7 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out.

Results for the year to Mar 2026

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

From revenue to net profit

Revenue90
Materials and goods−17
Employee costs−19
Other expenses−35
Operating profit19
Depreciation−14
Other income+23
One-off items−3.1
Finance costs−34
Profit before tax−8.4
Tax−1.5
Net profit−10.0

What the company owns

Plant, investments and other assets₹662 Cr
Inventory₹54 Cr
Cash and bank₹51 Cr
Receivables₹26 Cr
Current investments₹0 Cr

What pays for it: net worth and liabilities

Net worth₹406 Cr
Borrowings₹237 Cr
Other liabilities₹129 Cr
Owed to suppliers₹23 Cr

PVP Ventures 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. A segment at a loss has no share of profit.PVP Ventures segment results by quarter

Revenue by segment

₹90 CrTotal

Health Care Services₹56.8 Cr63.3% of total
Real Estate₹32.9 Cr36.7% of total

Profit by segment

Real Estate₹35.6 Cr100.0% of total

Segment results by year

Consolidated from the year to Mar 2020, standalone before, ₹ crore, years to March.

Health Care Services
Revenue, ₹ crore
8
10
57
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−2
−3
−6
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Real Estate
Revenue, ₹ crore
29
18
33
160
8
28
33
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
20
13
24
225
−4
6
36
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	–	45	20	50	176	17	39	90
Company revenue, as in its results	30	44	18	49	176	8	27	90
Revenue	–	–	–	–	–	8	10	57
Revenue growth	–	–	–	–	–	–	28.7%	445.4%
Profit	–	–	–	–	–	−2	−3	−6
Margin	–	–	–	–	–	−20.6%	−29.6%	−11.3%
Return on capital	–	–	–	–	–	−7.9%	−31.8%	−2.0%
Assets	–	–	–	–	–	47	37	452
Liabilities	–	–	–	–	–	26	27	126
Capital employed	–	–	–	–	–	21	10	325
Revenue	–	29	18	33	160	8	28	33
Revenue growth	–	–	−38.5%	84.8%	380.4%	−95.3%	274.0%	16.8%
Profit	–	20	13	24	225	−4	6	36
Profit growth	–	–	−35.7%	87.4%	842.4%	–	–	514.3%
Margin	–	67.5%	70.5%	71.5%	140.2%	−52.4%	20.6%	108.3%
Return on capital	–	51.5%	60.3%	6.4%	–	−1.9%	3.1%	44.4%
Assets	–	341	332	707	–	332	316	342
Liabilities	–	303	311	332	–	124	127	262
Capital employed	–	38	21	375	–	208	190	80
Revenue	–	15	1	16	16	0	0	–
Revenue growth	–	–	−90.8%	1,063.0%	−2.2%	−96.9%	−100.0%	–
Profit	–	−28	−15	3	−96	0	0	–
Margin	–	−184.7%	−1,079.3%	20.0%	−608.2%	−96.6%	–	–
Assets	–	125	108	122	–	0	0	–
Liabilities	–	283	314	373	–	0	0	–
Capital employed	–	−158	−206	−251	–	0	0	–
Revenue	–	–	–	–	0	1	0	–
Revenue growth	–	–	–	–	–	–	−100.0%	–
Profit	–	–	–	–	0	1	0	–
Profit growth	–	–	–	–	–	–	−100.0%	–
Margin	–	–	–	–	–	98.1%	–	–
Assets	–	–	–	–	–	0	0	–
Liabilities	–	–	–	–	–	0	0	–
Capital employed	–	–	–	–	–	0	0	–
Revenue	–	0	0	0	–	–	–	–
Revenue growth	–	–	–	−100.0%	–	–	–	–
Profit	–	−2	−7	−34	–	–	–	–
Margin	–	−650.4%	−2,210.9%	–	–	–	–	–
Return on capital	–	−26.8%	–	–	–	–	–	–
Assets	–	11	0	0	–	–	–	–
Liabilities	–	5	1	1	–	–	–	–
Capital employed	–	6	−1	−1	–	–	–	–
	–	0	–	–	–	–	–	–
Profit	–	1	–	–	–	–	–	–
Assets	–	0	–	–	–	–	–	–
Liabilities	–	0	–	–	–	–	–	–
Capital employed	–	0	–	–	–	–	–	–
	–	–	–	0	0	–	–	–
Profit	–	–	–	0	0	–	–	–
Assets	–	–	–	−430	0	–	–	–
Liabilities	–	–	–	−31	0	–	–	–
Revenue	–	–	0	0	–	–	–	–
Profit	–	–	−11	−20	–	–	–	–
Assets	–	–	125	106	–	–	–	–
Liabilities	–	–	25	10	–	–	–	–
	–	0	–	–	–	–	–	–
Profit	–	−13	–	–	–	–	–	–
Assets	–	134	–	–	–	–	–	–
Liabilities	–	25	–	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.PVP Ventures quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019	Mar 2020Filed 7 Aug	Mar 2021Filed 23 Jun	Mar 2022Filed 7 Jun	Mar 2023Filed 24 May	Mar 2024Filed 22 Sep	Mar 2025Filed 16 Jun	Mar 2026Filed 29 May
Revenue from operations	156	58	37	44	18	49	176	8	27	90
	111	68	81	64	31	42	46	20	35	71
Materials and goods bought	100	18	1	11	1	14	31	1	2	17
Employee costs	4	–	–	2	2	2	3	8	14	19
Other expenses	7	–	–	51	29	26	12	11	19	35
Operating profit before depreciation	45	−9	−44	−21	−14	7	129	−12	−8	19
Operating margin	28.7%	−15.5%	−120.0%	−47.5%	−75.9%	14.8%	73.7%	−139.6%	−27.8%	20.7%
Materials, % of revenue	64.1%	–	–	26.0%	5.7%	27.7%	17.8%	16.3%	8.8%	18.6%
Employee costs, % of revenue	2.8%	–	–	5.4%	10.1%	4.1%	1.5%	90.6%	50.2%	21.5%
Other expenses, % of revenue	4.4%	–	–	116.0%	160.1%	53.3%	7.0%	132.7%	68.9%	39.2%
Depreciation and amortisation	1	1	2	2	2	1	1	2	2	14
Operating profit after depreciation	43	−10	−46	−23	−16	6	128	−14	−10	5
Other income	1	1	0	1	2	1	0	8	11	23
Finance costs	47	51	59	69	61	68	10	5	4	34
Profit before one-off items and tax	−3	−60	−105	−92	−75	−61	119	−11	−2	−5
One-off items	1	0	−12	1	−6	−34	144	72	−7	−3
Profit before tax	−2	−60	−116	−91	−81	−95	263	62	−9	−8
	−10	2	0	3	0	0	25	−4	0	2
Current tax	–	–	–	3	0	0	15	0	0	1
Deferred tax	–	–	–	0	0	0	9	−4	0	0
	8	−62	−116	−93	−81	−95	238	66	−9	−10
Belonging to the company's shareholders	8	−62	−116	–	−56	−36	238	66	−10	−7
Belonging to outside owners of subsidiaries	–	–	–	–	−24	−59	–	0	2	−3
Other comprehensive income	–	–	–	0	0	0	0	−2	−1	3
Total comprehensive income	–	–	–	−93	−81	−95	238	64	−9	−7
Net margin	5.3%	−106.2%	−316.0%	−213.5%	−451.9%	−195.3%	135.3%	778.2%	−31.5%	−11.1%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2018 and Mar 2019 they do not, so they are left blank. Belonging to the company's shareholders is left blank for the year to Mar 2020: the filing's earnings per share does not match the profit it states, and cannot be multiplied back into the owners' profit because the share count in the filing and in the shareholding filing differ by more than 2%. Share of profit of joint ventures and associates is left blank for the year to Mar 2026: the filing states 0 for this share both for the period and for the year so far, which the form also writes for a line it does not fill, while the company's other filings for the same year show it was not 0 over those months.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2020Filed 7 Aug	Mar 2021Filed 23 Jun	Mar 2022Filed 7 Jun	Mar 2023Filed 24 May	Mar 2024Filed 22 Sep	Mar 2025Filed 16 Jun	Mar 2026Filed 29 May
	−4	−84	−180	108	229	221	406
	68	11	−48	148	229	223	218
Share capital	244	244	244	244	260	260	260
Reserves	−176	−233	−292	−96	−31	−37	−42
Belonging to outside owners of subsidiaries	−72	−96	−131	−40	0	−2	187
	293	265	371	182	41	22	237
Repayable after a year	183	144	127	133	21	1	142
Repayable within a year	109	120	244	48	20	21	94
	386	465	549	95	48	43	128
Trade payables	2	2	2	1	6	5	23
Other financial liabilities	199	277	245	1	2	6	4
Other liabilities	59	51	15	16	2	7	2
Provisions	16	15	43	29	0	1	1
Tax owed	–	0	0	–	18	4	3
	229	186	136	135	102	111	261
Other financial liabilities	2	1	2	2	9	7	20
Other liabilities	43	40	7	–	72	103	95
Provisions	0	0	0	0	0	0	1
Deferred tax	–	0	0	–	0	0	3
Total assets	611	566	505	339	379	376	794
	195	162	141	23	315	318	648
Plant in use, after depreciation	14	5	4	2	5	6	102
Plant being built	–	0	0	–	0	–	0
Intangible assets	0	0	0	2	3	0	74
Goodwill	0	0	0	0	36	30	147
Investments	29	18	14	0	3	2	6
Loans given	0	0	0	0	116	125	135
Other financial assets	1	0	0	10	14	16	37
Deferred tax	9	9	9	0	14	6	12
Other assets	143	129	113	9	125	132	135
	416	404	364	316	63	58	146
Inventories	341	341	327	306	52	51	54
Trade receivables	2	2	2	2	2	1	26
Cash and cash equivalents	0	4	0	2	1	1	51
Other bank balances	0	0	9	2	2	0	0
Current investments	0	0	0	0	5	0	0
Loans given	56	41	18	1	0	0	4
Other financial assets	15	16	7	2	0	1	0
Tax paid in advance	0	0	1	0	0	0	0
Other assets	1	1	1	0	2	5	9
Net debt	292	261	362	178	33	22	185

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017, Mar 2018 and Mar 2019, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 23 Jun	Mar 2022Filed 7 Jun	Mar 2023Filed 24 May	Mar 2024Filed 22 Sep	Mar 2025Filed 16 Jun	Mar 2026Filed 29 May
	6	−22	327	0	20	−24
	2	−22	329	1	−7	9
	−9	−47	204	−538	0	−27
Receivables	0	0	29	0	0	−8
Inventories	0	1	20	0	0	0
Payables	0	1	−1	1	0	−17
Other working capital	−9	−49	155	−539	0	−2
Tax paid	4	−1	−1	0	−15	−3
Capital spending	0	0	2	2	0	0
Free cash flow	6	−22	325	−2	20	−24
	7	1	210	6	3	−153
Plant and property sold	0	0	0	0	0	0
Companies bought	0	0	0	0	−4	−38
Interest received	0	0	0	0	1	3
	−10	17	−116	−8	−23	190
Borrowings raised	−10	18	86	3	0	203
Borrowings repaid	0	0	−200	−9	−19	0
Interest paid	0	0	−1	0	0	0
Lease payments	−1	0	−1	−1	−1	−6
Dividends paid	0	0	0	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	4	−4	421	−1	0	13

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 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.

₹ per share	Mar 2017	Mar 2018	Mar 2019	Mar 2020Filed 7 Aug	Mar 2021Filed 23 Jun	Mar 2022Filed 7 Jun	Mar 2023Filed 24 May	Mar 2024Filed 22 Sep	Mar 2025Filed 16 Jun	Mar 2026Filed 29 May
	–	–	–	–	–	−₹3.89	₹9.75	₹2.60	−₹0.26	−₹0.25
As stated that year	₹0.34	−₹2.54	−₹4.77	₹3.83	−₹3.29	−₹3.89	₹9.75	₹2.60	−₹0.26	−₹0.25
	–	–	–	–	–	−₹3.89	₹9.75	₹2.60	−₹0.26	−₹0.25
As stated that year	₹0.34	−₹2.54	−₹4.77	₹3.83	−₹3.29	−₹3.89	₹9.75	₹2.60	−₹0.26	−₹0.25
	–	–	–	–	–	−₹1.97	₹6.07	₹8.79	₹8.57	₹8.38
On that year's share count	–	–	–	₹2.76	₹0.46	−₹1.97	₹6.07	₹8.79	₹8.57	₹8.38
Shareholder yield	–	–	–	–	–	0.0%	0.0%	0.0%	0.0%	0.0%
Market cap at the year end (₹ crore)	116	141	85	–	–	120	181	992	569	612

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.PVP Ventures PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019	Mar 2020Filed 7 Aug	Mar 2021Filed 23 Jun	Mar 2022Filed 7 Jun	Mar 2023Filed 24 May	Mar 2024Filed 22 Sep	Mar 2025Filed 16 Jun	Mar 2026Filed 29 May
Revenue growth	5.2%	−62.4%	−37.0%	18.8%	−59.2%	173.3%	260.3%	−95.2%	221.1%	229.8%
Operating profit growth	26.8%	–	–	–	–	–	1,687.2%	–	–	–
Net profit growth	–	–	–	–	–	–	–	−72.3%	–	–
Earnings per share growth	–	–	–	–	–	–	–	−73.3%	–	–
	–	–	–	–	−143.1%	193.6%	476.0%	35.2%	−4.6%	−3.1%
	–	–	–	–	–	336.7 pts	282.3 pts	−440.8 pts	−39.8 pts	1.5 pts
From the net margin	–	–	–	–	–	109.9 pts	−551.1 pts	2,280.0 pts	−36.9 pts	3.7 pts
From asset turnover	–	–	–	–	–	−66.5 pts	−1,277.0 pts	−2,599.6 pts	−3.5 pts	−1.0 pts
From borrowing	–	–	–	–	–	293.3 pts	2,110.5 pts	−121.2 pts	0.6 pts	−1.1 pts
Return on capital employed	–	–	–	−8.0%	−8.6%	3.3%	44.3%	−5.1%	−3.9%	0.8%
Cash conversion	–	–	–	–	–	–	137.7%	0.7%	–	–
Interest cover	0.9	–	–	–	–	0.1	12.7	–	–	0.1
Debt to equity	–	–	–	–	–	–	1.68	0.18	0.10	0.58
Receivable days	–	–	–	13	33	13	4	77	18	106
Inventory days	–	–	–	10,947	1,21,228	8,826	3,571	13,598	7,755	1,183
Payable days	–	–	–	69	550	58	15	1,591	821	504
Cash conversion cycle, days	–	–	–	10,891	1,20,711	8,780	3,560	12,084	6,952	785
Working capital days	–	–	–	1,154	1,141	376	551	1,200	477	247
Asset turnover	–	–	–	0.07	0.03	0.09	0.42	0.02	0.07	0.15
Assets per rupee of net worth	–	–	–	9.04	14.93	−29.01	8.45	1.90	1.67	2.65
Sales per rupee of plant	–	–	–	3.19	3.71	12.39	84.71	1.69	4.79	0.88
Capital spending to depreciation	–	–	–	–	0.01	0.01	1.79	1.30	0.00	0.00
Plant being built, % of plant in use	–	–	–	–	0.0%	0.0%	–	0.0%	–	0.3%

Interest cover is left blank for the years to Mar 2018, Mar 2019, Mar 2020, Mar 2021, Mar 2024 and Mar 2025: operating profit after depreciation is a loss, and a loss covers no interest bill. Debt to equity is left blank for the years to Mar 2020, Mar 2021 and Mar 2022: net worth is below zero, so there is no shareholders' money to set the borrowings against. No balance sheet is on record for the years to Mar 2017, Mar 2018 and Mar 2019, 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: −130.5%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	−4.9%	38.1%	−20.1%
Return on equity, average	–	139.4%	9.2%
Return on capital employed, average	–	7.9%	−2.8%
Operating margin, average	−28.8%	−11.6%	−48.9%
Net margin, average	−40.7%	135.1%	245.2%
Asset turnover, average	–	0.15	0.08
Cash conversion cycle, days, average	–	6,432	6,607
Debt to equity, average	–	0.64	0.29

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.

₹ crore	5 years	3 years	Latest year
Cash from operations	302	−4	−24
Cash from investing	67	−144	−153
Cash from financing	60	159	190
Capital spending	4	2	0
Dividends paid	0	0	0
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	309	205	203
Borrowings repaid	229	29	0

Accounting checks

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

Check	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	4	8	4	7	2
Altman Z-scorePublished threshold 1.1	−0.87	−2.41	−4.92	9.25	2.79	1.36	1.28
Beneish M-scorePublished threshold −1.78	–	−2.51	−1.98	−2.10	14.26	−1.44	3.75
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	−16.00	−13.87	−70.92	16.53	−8.30	28.54
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	5.03	1.47	1.18	−0.07
Receivables growth less revenue growthOur threshold 0 percentage points	–	67.06	−168.67	−240.64	83.44	−244.69	1,580.60
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	90.86	−1,221.74	−137.90	12.40	−74.11	−594.65
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	2.02	−16.87	−3.36	−4.15	11.57	4.53
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	–	0.00	–	0.00
Effective tax ratePublished threshold 17.16 per cent	–	–	–	9.44	−7.07	–	–
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	8.97	−7.15	–	–

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.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
2 Sep 2026	Acuite Ratings & Research Limited (opens in a new tab)	DebenturesLong-term scale	ACUITE BBB-NA	Stable	150

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.