New Risk • Jul 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings have declined by 20% per year over the past 5 years. Market cap is less than US$10m (₹305.0m market cap, or US$3.21m). Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.05% net profit margin). Revenue is less than US$5m (₹332m revenue, or US$3.5m). Reported Earnings • May 30
Full year 2026 earnings released: EPS: ₹0.03 (vs ₹0.41 in FY 2025) Full year 2026 results: EPS: ₹0.03 (down from ₹0.41 in FY 2025). Revenue: ₹331.9m (up 9.3% from FY 2025). Net income: ₹152.0k (down 92% from FY 2025). Profit margin: 0% (down from 0.6% in FY 2025). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 15
Third quarter 2026 earnings released: EPS: ₹0.25 (vs ₹0.22 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.25 (up from ₹0.22 in 3Q 2025). Revenue: ₹78.7m (down 20% from 3Q 2025). Net income: ₹1.19m (up 15% from 3Q 2025). Profit margin: 1.5% (up from 1.1% in 3Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. 공시 • Feb 07
Fine-Line Circuits Limited to Report Q3, 2026 Results on Feb 14, 2026 Fine-Line Circuits Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 14, 2026 New Risk • Dec 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Market cap is less than US$10m (₹413.1m market cap, or US$4.60m). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (0.7% net profit margin). Revenue is less than US$5m (₹333m revenue, or US$3.7m). Reported Earnings • Nov 13
Second quarter 2026 earnings released: EPS: ₹0.14 (vs ₹0.08 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.14 (up from ₹0.08 in 2Q 2025). Revenue: ₹96.5m (up 39% from 2Q 2025). Net income: ₹692.0k (up 71% from 2Q 2025). Profit margin: 0.7% (up from 0.6% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Oct 31
Fine-Line Circuits Limited to Report Q2, 2026 Results on Nov 13, 2025 Fine-Line Circuits Limited announced that they will report Q2, 2026 results at 9:15 AM, Indian Standard Time on Nov 13, 2025 공시 • Sep 01
Fine-Line Circuits Limited, Annual General Meeting, Sep 27, 2025 Fine-Line Circuits Limited, Annual General Meeting, Sep 27, 2025, at 11:00 Indian Standard Time. New Risk • Aug 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.6% Last year net profit margin: 1.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Share price has been highly volatile over the past 3 months (9.7% average weekly change). Market cap is less than US$10m (₹351.0m market cap, or US$4.01m). Minor Risks Profit margins are more than 30% lower than last year (0.6% net profit margin). Revenue is less than US$5m (₹306m revenue, or US$3.5m). Reported Earnings • Aug 12
First quarter 2026 earnings released: EPS: ₹0.13 (vs ₹0.14 in 1Q 2025) First quarter 2026 results: EPS: ₹0.13 (down from ₹0.14 in 1Q 2025). Revenue: ₹72.5m (up 2.9% from 1Q 2025). Net income: ₹624.0k (down 10% from 1Q 2025). Profit margin: 0.9% (down from 1.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. 공시 • Aug 05
Fine-Line Circuits Limited to Report Q1, 2026 Results on Aug 11, 2025 Fine-Line Circuits Limited announced that they will report Q1, 2026 results on Aug 11, 2025 공시 • May 17
Fine-Line Circuits Limited to Report Q4, 2025 Results on May 24, 2025 Fine-Line Circuits Limited announced that they will report Q4, 2025 results at 9:15 AM, Indian Standard Time on May 24, 2025 Reported Earnings • Feb 10
Third quarter 2025 earnings released: EPS: ₹0.22 (vs ₹0.41 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.22 (down from ₹0.41 in 3Q 2024). Revenue: ₹97.7m (up 50% from 3Q 2024). Net income: ₹1.04m (down 47% from 3Q 2024). Profit margin: 1.1% (down from 3.0% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. 공시 • Jan 29
Fine-Line Circuits Limited to Report Q3, 2025 Results on Feb 08, 2025 Fine-Line Circuits Limited announced that they will report Q3, 2025 results at 9:15 AM, Indian Standard Time on Feb 08, 2025 Board Change • Jan 13
High number of new directors Non-Executive Non Independent Director Ramunni Premkumar was the last director to join the board, commencing their role in 2024. Board Change • Dec 12
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Non Independent Director Ramunni Premkumar was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: ₹0.08 (vs ₹0.15 loss in 2Q 2024) Second quarter 2025 results: EPS: ₹0.08 (up from ₹0.15 loss in 2Q 2024). Revenue: ₹69.5m (up 32% from 2Q 2024). Net income: ₹404.0k (up ₹1.13m from 2Q 2024). Profit margin: 0.6% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 55% per year, which means it is well ahead of earnings. 공시 • Oct 31
Fine-Line Circuits Limited to Report Q2, 2025 Results on Nov 09, 2024 Fine-Line Circuits Limited announced that they will report Q2, 2025 results at 9:15 AM, Indian Standard Time on Nov 09, 2024 Board Change • Oct 07
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Non Independent Director Ramunni Premkumar was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. 공시 • Sep 28
Fine-Line Circuits Limited Appoints R. M. Premkumar as a Non-Executive, Non Independent Director Fine-Line Circuits Limited approved the appointment of MR. R. M. Premkumar as a Non-Executive, Non Independent Director of the Company with effect from September 28, 2024. Shri. R.M Premkumar is an lAS Officer of 1968
Batch and has wide experience of over 39 years in diverse fields prominent amongst them in the fields if Industry, Finance and General Administration and Management. He has held important posts as follows: Collector, Kolhapur; CEO, Maharashtra Industrial Development Corporation; M D, Maharashtra Tourism Development Corporation; Development Commissioner; Seepz, Principal Secretary (Revenue); Government of Maharashtra; Additional Secretary; Department of Atomic Energy; Chairman, Food Corporation and Chief Secretary, Government of Maharashtra, at the AGM held on September 28, 2024. Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: ₹0.14 (vs ₹0.23 loss in 1Q 2024) First quarter 2025 results: EPS: ₹0.14 (up from ₹0.23 loss in 1Q 2024). Revenue: ₹70.5m (up 36% from 1Q 2024). Net income: ₹694.0k (up ₹1.79m from 1Q 2024). Profit margin: 1.0% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 65% per year, which means it is well ahead of earnings. 공시 • Aug 06
Fine-Line Circuits Limited Announces Retirement of Directors The Board of Directors of the Fine-Line Circuits Limited at its meeting held on August 06, 2024, approved the Retirement of Mr. R.M. Premkumar (DIN: 00328942), Prof Juzer Vasi (DIN: 00040682) and Mr. Apurva Shah (DIN: 00004781) as Independent Directors of the Company with effect from August 08, 2024 on expiry of their term. 공시 • Jul 29
Fine-Line Circuits Limited to Report Q1, 2025 Results on Aug 06, 2024 Fine-Line Circuits Limited announced that they will report Q1, 2025 results on Aug 06, 2024 공시 • May 20
Fine-Line Circuits Limited to Report Q4, 2024 Results on May 25, 2024 Fine-Line Circuits Limited announced that they will report Q4, 2024 results on May 25, 2024 Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: ₹0.41 (vs ₹0.02 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.41 (up from ₹0.02 in 3Q 2023). Revenue: ₹65.1m (up 11% from 3Q 2023). Net income: ₹1.96m (up ₹1.87m from 3Q 2023). Profit margin: 3.0% (up from 0.1% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. New Risk • Nov 20
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Market cap is less than US$10m (₹324.5m market cap, or US$3.90m). Minor Risk Revenue is less than US$5m (₹236m revenue, or US$2.8m). 공시 • Nov 04
Fine-Line Circuits Limited to Report Q2, 2024 Results on Nov 11, 2023 Fine-Line Circuits Limited announced that they will report Q2, 2024 results on Nov 11, 2023 공시 • Aug 26
Fine-Line Circuits Limited, Annual General Meeting, Sep 23, 2023 Fine-Line Circuits Limited, Annual General Meeting, Sep 23, 2023, at 14:00 Indian Standard Time. Reported Earnings • Aug 13
First quarter 2024 earnings released: ₹0.23 loss per share (vs ₹0.08 profit in 1Q 2023) First quarter 2024 results: ₹0.23 loss per share (down from ₹0.08 profit in 1Q 2023). Revenue: ₹52.1m (down 22% from 1Q 2023). Net loss: ₹1.10m (down 376% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. 공시 • Aug 05
Fine-Line Circuits Limited to Report Q1, 2024 Results on Aug 12, 2023 Fine-Line Circuits Limited announced that they will report Q1, 2024 results on Aug 12, 2023 공시 • May 23
Fine-Line Circuits Limited to Report Fiscal Year 2023 Results on May 30, 2023 Fine-Line Circuits Limited announced that they will report fiscal year 2023 results at 12:15 PM, Indian Standard Time on May 30, 2023 Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹53.37, the stock trades at a trailing P/E ratio of 78.4x. Average trailing P/E is 25x in the Electronic industry in India. Total returns to shareholders of 95% over the past three years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹40.00, the stock trades at a trailing P/E ratio of 58.7x. Average trailing P/E is 25x in the Electronic industry in India. Total returns to shareholders of 57% over the past three years. Reported Earnings • Feb 05
Third quarter 2023 earnings released: EPS: ₹0.02 (vs ₹0.49 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.02 (down from ₹0.49 in 3Q 2022). Revenue: ₹58.6m (down 21% from 3Q 2022). Net income: ₹83.0k (down 97% from 3Q 2022). Profit margin: 0.1% (down from 3.2% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. 공시 • Jan 24
Fine-Line Circuits Limited to Report Q3, 2023 Results on Feb 02, 2023 Fine-Line Circuits Limited announced that they will report Q3, 2023 results on Feb 02, 2023 Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. Chairman Emeritus Bhagwandas Doshi was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 23% share price gain to ₹58.80, the stock trades at a trailing P/E ratio of 37.6x. Average trailing P/E is 23x in the Electronic industry in India. Total returns to shareholders of 238% over the past three years. 공시 • Aug 30
Fine-Line Circuits Limited, Annual General Meeting, Sep 22, 2022 Fine-Line Circuits Limited, Annual General Meeting, Sep 22, 2022, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2022 together with the Reports of the Board of Directors and the Auditors thereon; and to consider appointment of a Director in place of Shri. Rajiv Doshi, who retires by rotation and being eligible, offers himself for re-appointment. Reported Earnings • Aug 18
First quarter 2023 earnings released: EPS: ₹0.08 (vs ₹0.35 in 1Q 2022) First quarter 2023 results: EPS: ₹0.08 (down from ₹0.35 in 1Q 2022). Revenue: ₹67.0m (down 13% from 1Q 2022). Net income: ₹398.0k (down 76% from 1Q 2022). Profit margin: 0.6% (down from 2.2% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 25% share price gain to ₹50.70, the stock trades at a trailing P/E ratio of 27.8x. Average trailing P/E is 25x in the Electronic industry in India. Total returns to shareholders of 269% over the past three years. 공시 • Jul 30
Fine-Line Circuits Limited to Report Q1, 2023 Results on Aug 13, 2022 Fine-Line Circuits Limited announced that they will report Q1, 2023 results on Aug 13, 2022 Reported Earnings • May 30
Full year 2022 earnings released: EPS: ₹1.83 (vs ₹0.11 in FY 2021) Full year 2022 results: EPS: ₹1.83 (up from ₹0.11 in FY 2021). Revenue: ₹301.4m (up 33% from FY 2021). Net income: ₹8.80m (up ₹8.27m from FY 2021). Profit margin: 2.9% (up from 0.2% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. 공시 • May 21
Fine-Line Circuits Limited to Report Q4, 2022 Final Results on May 27, 2022 Fine-Line Circuits Limited announced that they will report Q4, 2022 final results on May 27, 2022 Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. Chairman Emeritus Bhagwandas Doshi was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 22% share price gain to ₹57.75, the stock trades at a trailing P/E ratio of 49x. Average trailing P/E is 38x in the Electronic industry in India. Total returns to shareholders of 250% over the past three years. Recent Insider Transactions • Mar 22
Insider recently sold ₹209k worth of stock On the 17th of March, Vijay Kumbhani sold around 4k shares on-market at roughly ₹54.37 per share. In the last 3 months, they made an even bigger sale worth ₹657k. Insiders have been net sellers, collectively disposing of ₹956k more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 21% share price gain to ₹58.10, the stock trades at a trailing P/E ratio of 49.3x. Average trailing P/E is 34x in the Electronic industry in India. Total returns to shareholders of 248% over the past three years. Recent Insider Transactions • Mar 06
Insider recently sold ₹657k worth of stock On the 3rd of March, Vijay Kumbhani sold around 13k shares on-market at roughly ₹52.09 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹747k more than they bought in the last 12 months. Recent Insider Transactions • Feb 23
Insider recently sold ₹90k worth of stock On the 17th of February, Vijay Kumbhani sold around 1k shares on-market at roughly ₹75.06 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorated over the past week After last week's 23% share price decline to ₹67.05, the stock trades at a trailing P/E ratio of 56.9x. Average trailing P/E is 40x in the Electronic industry in India. Total returns to shareholders of 340% over the past three years. Reported Earnings • Feb 15
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.49 (up from ₹0.14 in 3Q 2021). Revenue: ₹73.9m (up 29% from 3Q 2021). Net income: ₹2.36m (up 244% from 3Q 2021). Profit margin: 3.2% (up from 1.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improved over the past week After last week's 17% share price gain to ₹35.15, the stock trades at a trailing P/E ratio of 42.3x. Average trailing P/E is 33x in the Electronic industry in India. Total returns to shareholders of 89% over the past three years. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 17% share price gain to ₹24.25, the stock trades at a trailing P/E ratio of 52.7x. Average trailing P/E is 22x in the Electronic industry in India. Total returns to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 21% share price gain to ₹24.10, the stock trades at a trailing P/E ratio of 52.4x. Average trailing P/E is 22x in the Electronic industry in India. Total returns to shareholders of 52% over the past three years. Reported Earnings • Jun 13
Full year 2021 earnings released: EPS ₹0.11 (vs ₹0.18 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: ₹227.5m (down 15% from FY 2020). Net income: ₹529.3k (up ₹1.40m from FY 2020). Profit margin: 0.2% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Executive Departure • Mar 10
Independent Director has left the company On the 8th of March, Jayesh Rambhia's tenure as Independent Director ended after 4.0 years in the role. We don't have any record of a personal shareholding under Jayesh's name. A total of 2 executives have left over the last 12 months. 공시 • Feb 13
Mr. Jayesh Rambhia to Retire as Independent Director of Fine-Line Circuits Limited with Effect from March 08, 2021 Fine-Line Circuits Limited announced that Mr. Jayesh Rambhia would complete his second term as independent director of the company and accordingly will retire as independent director of the company with effect from March 08, 2021. Is New 90 Day High Low • Feb 09
New 90-day low: ₹16.65 The company is down 4.0% from its price of ₹17.35 on 11 November 2020. The Indian market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 41% over the same period. Reported Earnings • Nov 14
Second quarter 2021 earnings released: EPS ₹0.07 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₹67.1m (up 16% from 2Q 2020). Net income: ₹360.0k (up 219% from 2Q 2020). Profit margin: 0.5% (up from 0.2% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. 공시 • Nov 03
Fine-Line Circuits Limited to Report Q2, 2021 Results on Nov 10, 2020 Fine-Line Circuits Limited announced that they will report Q2, 2021 results on Nov 10, 2020 공시 • Jul 26
Fine-Line Circuits Limited to Report Q1, 2021 Results on Aug 08, 2020 Fine-Line Circuits Limited announced that they will report Q1, 2021 results on Aug 08, 2020 공시 • Jun 22
Fine-Line Circuits Limited to Report Q4, 2020 Results on Jun 30, 2020 Fine-Line Circuits Limited announced that they will report Q4, 2020 results on Jun 30, 2020 
