Vadodara-based manufacturer and EPC service provider of medium/high-voltage power T&D equipment — Ring Main Units, switchgear panels and compact substations — under technology-transfer ties with Schneider Electric.
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| Line item | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 1 | 1 | 1 | 10 | 14 | 14 |
| Reserves | 6 | 9 | 13 | 31 | 95 | 98 |
| Borrowings | 9 | 8 | 16 | 33 | 14 | 17 |
| Other Liabilities | 19 | 33 | 36 | 33 | 40 | 59 |
| Total Liabilities | 35 | 51 | 67 | 107 | 163 | 188 |
| AssetsFixed Assets | 7 | 7 | 12 | 16 | 21 | 27 |
| CWIP | 0 | 0 | 0 | 6 | 8 | 13 |
| Investments | 0 | 1 | 1 | 1 | 1 | 1 |
| Other Assets | 28 | 43 | 53 | 83 | 133 | 146 |
| Total Assets | 35 | 51 | 67 | 107 | 163 | 188 |
| Line item | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | 3 | 8 | 0 | -4 |
| Cash from Investing | 0 | -1 | -8 | -10 | -18 |
| Cash from Financing | -1 | -2 | 6 | 30 | 38 |
| SummaryCapital Expenditure | — | — | — | — | — |
| Free Cash Flow | 0 | 3 | 0 | -11 | -25 |
| FCF Margin | — | — | — | — | — |
A per-share valuation needs positive trailing EPS and a live price.
PARTH doesn't have both right now.
Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.
Guides on how to read this kind of business and the numbers that matter.