Mumbai-based unregistered Core Investment Company holding equity stakes in Bajaj group companies, after demerging its hoists-manufacturing business into wholly-owned subsidiary Indef Manufacturing Limited in FY25.
Price
Market Cap
Sector
Industrials
Rank
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 334 | 491 | 616 | 703 | 726 | 843 | 859 | 688 |
| Borrowings | 0 | 0 | 0 | 7 | 0 | 0 | 0 | 0 |
| Other Liabilities | 15 | 31 | 60 | 60 | 53 | 94 | 91 | 62 |
| Total Liabilities | 352 | 525 | 679 | 774 | 782 | 940 | 954 | 754 |
| AssetsFixed Assets | 34 | 33 | 29 | 36 | 0 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 225 | 422 | 573 | 662 | 763 | 938 | 951 | 753 |
| Other Assets | 93 | 71 | 77 | 76 | 19 | 2 | 2 | 1 |
| Total Assets | 352 | 525 | 679 | 774 | 782 | 940 | 954 | 754 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 13 | 10 | 16 | 14 | 12 | -1 | 8 | -1 |
| Cash from Investing | -5 | -7 | -9 | 3 | -1 | 9 | 6 | 0 |
| Cash from Financing | -5 | -6 | -6 | -7 | -9 | -8 | -13 | 0 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 9 | 8 | 15 | 13 | 87 | -1 | 8 | -1 |
| FCF Margin | — | — | — | — | — | — | — | — |
This looks cyclical, and we don't have enough quarters to establish a through-cycle earnings base. Valuing it off the current point in the cycle would be misleading.
HERCULES · CYCLICAL_UNMODELABLE
Guides on how to read this kind of business and the numbers that matter.