Carnation Industries Ltd.

BSE: CARNATIN · Other Industrial Products

52W Range₹21 ₹98

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Snapshot

Unlock Carnation Industries Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Carnation Industries Limited is a Kolkata-based foundry specialising in the manufacture and export of cast iron and ductile iron products. The company serves international construction and waterworks sectors with a portfolio including manhole covers, gratings, and industrial valves.

Business Model

The company operates as an export-oriented unit, generating revenue by supplying engineered iron components to infrastructure and municipal projects in North America and Europe. It leverages its West Bengal manufacturing facilities to meet stringent international quality standards for global clients.

Growth Outlook

Growth is primarily driven by sustained global demand for engineering goods and infrastructure development in international markets. The company continues to focus on its export-oriented business model to capture opportunities in the construction and waterworks sectors.

Key Risks

  • Export Market Dependency. The company's heavy reliance on North American and European markets exposes it to geopolitical instability and fluctuations in international trade policies.
  • Raw Material Price Volatility. Fluctuations in the cost of pig iron and other raw materials can significantly impact manufacturing margins.
  • Foreign Exchange Risk. As an export-oriented entity, the company is vulnerable to currency exchange rate volatility between the Indian Rupee and major foreign currencies.
  • Regulatory Compliance. Failure to maintain international quality and environmental standards could lead to loss of contracts in highly regulated overseas markets.

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Key Metrics

NET PROFIT

₹0.25 Cr

TTM · standalone

-87.2%YoY

EPS

₹0.76

TTM · standalone

-86.5%YoY

RETURN ON EQUITY

-14.1%

TTM · standalone

+63.2 ppYoY

RETURN ON CAPITAL EMPLOYED

-20.5%

TTM · standalone

+221.2 ppYoY

P/E

123.1x

Q1 FY26 · standalone

123.1 vs 2.8x5Y avg

EV/EBITDA

87.4x

Q1 FY26 · standalone

87.4 vs -7.4x5Y avg

NET PROFIT MARGIN

-26.8%

Q3 FY21 · standalone

-843.0 ppYoY

DEBT TO EQUITY

0.1x

Q2 FY26 · standalone

-0.31xYoY

Peers · Other Industrial Products

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Carnation Industries Ltd.CARNATIN
₹34 Cr129.29110.60-11.2%-14.1%-20.5%
Mallcom (India)MALLCOM
₹624 Cr23.3212.963.9%10.9%8.7%13.8%-20.6%
Simplex CastingsSIMPLEXCAS
₹439 Cr3.7412.2718.0%19.6%30.0%33.7%-70.7%
Sealmatic IndiaSEALMATIC
₹435 Cr15.0%-20.8%
United HeatUHTL
₹273 Cr14.3%+96.7%
Indian Link Chain Mnfrs. Ltd.INLCM
₹102 Cr-700.0%6.6%5.2%-70.9%

As of Q1 FY26

Financials