Reported Earnings • May 15
Full year 2026 earnings released: EPS: ₹4.41 (vs ₹4.11 in FY 2025) Full year 2026 results: EPS: ₹4.41 (up from ₹4.11 in FY 2025). Revenue: ₹3.26b (down 17% from FY 2025). Net income: ₹225.0m (up 7.4% from FY 2025). Profit margin: 6.9% (up from 5.4% in FY 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. New Risk • May 14
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 8.6% 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 Risk Earnings have declined by 12% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (₹5.23b market cap, or US$54.6m). Announcement • May 07
Black Rose Industries Limited to Report Q4, 2026 Results on May 13, 2026 Black Rose Industries Limited announced that they will report Q4, 2026 results on May 13, 2026 Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹73.64, the stock trades at a trailing P/E ratio of 28.6x. Average trailing P/E is 20x in the Trade Distributors industry in India. Total loss to shareholders of 48% over the past three years. Buy Or Sell Opportunity • Mar 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to ₹74.37. The fair value is estimated to be ₹94.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.0% over the last 3 years. Earnings per share has grown by 20%. Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: ₹0.86 (vs ₹1.12 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.86 (down from ₹1.12 in 3Q 2025). Revenue: ₹758.6m (down 13% from 3Q 2025). Net income: ₹44.1m (down 23% from 3Q 2025). Profit margin: 5.8% (down from 6.6% in 3Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Feb 06
Black Rose Industries Limited to Report Q3, 2026 Results on Feb 12, 2026 Black Rose Industries Limited announced that they will report Q3, 2026 results on Feb 12, 2026 Board Change • Dec 12
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Non-Executive Independent Director Mayur Desai was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: ₹0.87 (vs ₹0.92 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.87 (down from ₹0.92 in 2Q 2025). Revenue: ₹843.1m (down 32% from 2Q 2025). Net income: ₹44.3m (down 5.9% from 2Q 2025). Profit margin: 5.3% (up from 3.8% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Nov 04
Black Rose Industries Limited to Report Q2, 2026 Results on Nov 11, 2025 Black Rose Industries Limited announced that they will report Q2, 2026 results on Nov 11, 2025 Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹117, the stock trades at a trailing P/E ratio of 29.3x. Average trailing P/E is 31x in the Trade Distributors industry in India. Total loss to shareholders of 33% over the past three years. Declared Dividend • Sep 08
Dividend of ₹0.65 announced Shareholders will receive a dividend of ₹0.65. Ex-date: 22nd September 2025 Payment date: 29th October 2025 Dividend yield will be 1.2%, which is higher than the industry average of 0.1%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 54% per year over the past 8 years and payments have been stable during that time. Earnings per share has grown by 2.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 18
Black Rose Industries Limited, Annual General Meeting, Sep 29, 2025 Black Rose Industries Limited, Annual General Meeting, Sep 29, 2025, at 14:00 Indian Standard Time. Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: ₹0.82 (vs ₹0.93 in 1Q 2025) First quarter 2026 results: EPS: ₹0.82 (down from ₹0.93 in 1Q 2025). Revenue: ₹609.0m (down 38% from 1Q 2025). Net income: ₹41.9m (down 11% from 1Q 2025). Profit margin: 6.9% (up from 4.8% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Aug 14
Black Rose Industries Limited Announces Management Changes Black Rose Industries Limited announced that at the board meeting held on 14 August, 2025 approved appointment of Mr. Ratan Agrawal, Chief Financial Officer of the Company as Chief Risk Officer of the Company. Pursuant to the provisions of Regulation 30 (read with Part A of Schedule III) of the SEBI Listing Regulations, and any other applicable provisions, and based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors has designated Dr. Pavankumar Aduri, Vice President- Innovation and Mr. Bhavesh Shah, General Manager Sales as Senior Management Personnel of the Company as the part of reorganisation of structure of the Key Managerial Personnel. Accordingly, Mr. Bhavesh Shah shall no longer be designated as a Key Managerial Personnel of the Company. The current Key Managerial Personnel of the Company are: Mrs. Shruti Jatia, Whole-time Director; Mr. Ambarish Daga, Whole-time Director; Mr. Ratan Agrawal, Chief Financial Officer; Mr. Ankit Kumar Jain, Company Secretary. Brief profile: Dr. Pavankumar Aduri holds a Ph.D. in Chemical Engineering (2007), M.Sc. (Tech) in Oils in Chemical Technology (2002), and B.Sc. (Tech) in the same field (2000). With over 16 years of experience in the chemical industry, he has been instrumental in driving innovation across specialty chemicals, polymer additives, liquid formulations, and pigments. Dr. Aduri has played a key role in shaping R&D and business strategies, providing technical marketing support, and leading organizational development initiatives, including succession planning. Brief profile: Mr. Bhavesh Shah holds a Bachelor's degree in Commerce from the University of Mumbai and a Master's in Management Studies (Finance) from Narsee Monjee Institute of Management Studies (NMIMS), where he was awarded the Gold Medal for academic excellence. He brings with him over 30 years of extensive experience and has been associated with the Company since 2008, leading critical functions in marketing and sales. Announcement • Aug 09
Black Rose Industries Limited to Report Q1, 2026 Results on Aug 14, 2025 Black Rose Industries Limited announced that they will report Q1, 2026 results on Aug 14, 2025 Reported Earnings • May 21
Full year 2025 earnings released: EPS: ₹4.11 (vs ₹4.16 in FY 2024) Full year 2025 results: EPS: ₹4.11 (down from ₹4.16 in FY 2024). Revenue: ₹3.95b (up 3.8% from FY 2024). Net income: ₹209.4m (down 1.3% from FY 2024). Profit margin: 5.3% (down from 5.6% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Announcement • May 16
Black Rose Industries Limited to Report Q4, 2025 Results on May 20, 2025 Black Rose Industries Limited announced that they will report Q4, 2025 results on May 20, 2025 Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: ₹1.12 (vs ₹1.07 in 3Q 2024) Third quarter 2025 results: EPS: ₹1.12 (up from ₹1.07 in 3Q 2024). Revenue: ₹876.8m (down 6.3% from 3Q 2024). Net income: ₹57.0m (up 4.9% from 3Q 2024). Profit margin: 6.5% (up from 5.8% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year and the company’s share price has also fallen by 17% per year. Announcement • Jan 22
Black Rose Industries Limited to Report Q3, 2025 Results on Jan 30, 2025 Black Rose Industries Limited announced that they will report Q3, 2025 results on Jan 30, 2025 Reported Earnings • Nov 06
Second quarter 2025 earnings released: EPS: ₹0.92 (vs ₹1.19 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.92 (down from ₹1.19 in 2Q 2024). Revenue: ₹1.24b (up 48% from 2Q 2024). Net income: ₹47.1m (down 22% from 2Q 2024). Profit margin: 3.8% (down from 7.2% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Oct 30
Black Rose Industries Limited to Report Q2, 2025 Results on Nov 05, 2024 Black Rose Industries Limited announced that they will report Q2, 2025 results on Nov 05, 2024 Declared Dividend • Sep 01
Dividend of ₹0.65 announced Shareholders will receive a dividend of ₹0.65. Ex-date: 13th September 2024 Payment date: 23rd October 2024 Dividend yield will be 1.9%, which is higher than the industry average of 0.1%. Sustainability & Growth Dividend is covered by earnings (13% earnings payout ratio) but not covered by cash flows (118% cash payout ratio). The dividend has increased by an average of 59% per year over the past 7 years and payments have been stable during that time. Earnings per share has grown by 6.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 01
Black Rose Industries Limited, Annual General Meeting, Sep 23, 2024 Black Rose Industries Limited, Annual General Meeting, Sep 23, 2024, at 14:00 Indian Standard Time. Reported Earnings • Aug 01
First quarter 2025 earnings released: EPS: ₹0.93 (vs ₹0.79 in 1Q 2024) First quarter 2025 results: EPS: ₹0.93 (up from ₹0.79 in 1Q 2024). Revenue: ₹993.1m (up 13% from 1Q 2024). Net income: ₹47.2m (up 17% from 1Q 2024). Profit margin: 4.8% (up from 4.6% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • Jul 25
Black Rose Industries Limited to Report Q1, 2025 Results on Jul 31, 2024 Black Rose Industries Limited announced that they will report Q1, 2025 results at 3:30 PM, Indian Standard Time on Jul 31, 2024 Reported Earnings • May 29
Full year 2024 earnings released: EPS: ₹4.16 (vs ₹1.55 in FY 2023) Full year 2024 results: EPS: ₹4.16 (up from ₹1.55 in FY 2023). Revenue: ₹3.85b (down 11% from FY 2023). Net income: ₹212.3m (up 168% from FY 2023). Profit margin: 5.5% (up from 1.8% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • May 22
Black Rose Industries Limited to Report Q4, 2024 Results on May 28, 2024 Black Rose Industries Limited announced that they will report Q4, 2024 results on May 28, 2024 Buy Or Sell Opportunity • Feb 01
Now 22% undervalued Over the last 90 days, the stock has risen 5.1% to ₹143. The fair value is estimated to be ₹182, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 34%. Reported Earnings • Feb 01
Third quarter 2024 earnings released: EPS: ₹1.07 (vs ₹0.05 in 3Q 2023) Third quarter 2024 results: EPS: ₹1.07 (up from ₹0.05 in 3Q 2023). Revenue: ₹947.1m (down 2.9% from 3Q 2023). Net income: ₹54.4m (up ₹51.6m from 3Q 2023). Profit margin: 5.7% (up from 0.3% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Jan 31
Black Rose Industries Limited Announces Management Changes Black Rose Industries Limited announced that Mrs. Harshita Shetty, Company Secretary and Compliance Officer (Key Managerial Personnel) of the Company has tendered her resignation from the position of Company Secretary & Compliance Officer (Key Managerial Personnel) of the Company vide her e- mail dated 31st January, 2024, due to personal reasons and she will be relieved from the services of the Company with effect from close of business hour on 29 February, 2024. The Board of Directors in their Meeting held on 31st January, 2024 has appointed Mr. Anup Jatia, the Non-Executive - Non Independent Director as the Non- Executive Chairman of Company with effect from 31st January, 2024. Announcement • Jan 18
Black Rose Industries Limited to Report Q3, 2024 Results on Jan 31, 2024 Black Rose Industries Limited announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: ₹1.19 (vs ₹0.30 in 2Q 2023) Second quarter 2024 results: EPS: ₹1.19 (up from ₹0.30 in 2Q 2023). Revenue: ₹849.5m (down 17% from 2Q 2023). Net income: ₹60.4m (up 289% from 2Q 2023). Profit margin: 7.1% (up from 1.5% in 2Q 2023). The increase in margin was driven by lower 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 8% per year, which means it is well ahead of earnings. Announcement • Oct 28
Black Rose Industries Limited to Report Q2, 2024 Results on Nov 07, 2023 Black Rose Industries Limited announced that they will report Q2, 2024 results on Nov 07, 2023 Board Change • Oct 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Non-Executive Independent Director Deepa Poncha was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 01
Black Rose Industries Limited Approves Final Dividend for the Financial Year Ended 31 March, 2023 Black Rose Industries Limited announced that at the Annual General Meeting held on 29 September, 2022, approved to declare final dividend of INR 0.55 per equity share for the financial year ended 31 March, 2023. Upcoming Dividend • Sep 15
Upcoming dividend of ₹0.55 per share at 0.4% yield Eligible shareholders must have bought the stock before 22 September 2023. Payment date: 29 October 2023. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (0.1%). Upcoming Dividend • Sep 15
Upcoming dividend of ₹0.55 per share at 0.4% yield Eligible shareholders must have bought the stock before 22 September 2023. Payment date: 29 October 2023. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (0.1%). Announcement • Sep 08
Black Rose Industries Limited Proposes Dividend for the Financial Year 2022-23 Black Rose Industries Limited proposed dividend of INR 0.55 per equity share for the financial year 2022-23 at its AGM to be held on 29th September, 2023. Announcement • Sep 03
Black Rose Industries Limited, Annual General Meeting, Sep 29, 2023 Black Rose Industries Limited, Annual General Meeting, Sep 29, 2023, at 11:30 Indian Standard Time. New Risk • Aug 09
New major risk - Revenue and earnings growth Earnings have declined by 0.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.6% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (₹7.20b market cap, or US$86.9m). Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: ₹0.79 (vs ₹0.84 in 1Q 2023) First quarter 2024 results: EPS: ₹0.79 (down from ₹0.84 in 1Q 2023). Revenue: ₹883.6m (down 26% from 1Q 2023). Net income: ₹40.5m (down 5.3% from 1Q 2023). Profit margin: 4.6% (up from 3.6% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Aug 01
Black Rose Industries Limited to Report Q1, 2024 Results on Aug 08, 2023 Black Rose Industries Limited announced that they will report Q1, 2024 results on Aug 08, 2023 Reported Earnings • May 30
Full year 2023 earnings released: EPS: ₹1.55 (vs ₹6.25 in FY 2022) Full year 2023 results: EPS: ₹1.55 (down from ₹6.25 in FY 2022). Revenue: ₹4.32b (down 11% from FY 2022). Net income: ₹79.2m (down 75% from FY 2022). Profit margin: 1.8% (down from 6.5% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • May 27
Black Rose Industries Limited Recommends Final Dividend for the Financial Year Ended 31 March, 2023 Black Rose Industries Limited recommends final dividend of INR 0.55 per equity share (i.e. @ 55 % on the paid-up share capital) for the financial year ended 31 March, 2023 subject To Approve the shareholders at the ensuing Annual General Meeting of the Company. Announcement • May 19
Black Rose Industries Limited to Report Q4, 2023 Results on May 26, 2023 Black Rose Industries Limited announced that they will report Q4, 2023 results at 3:30 PM, Indian Standard Time on May 26, 2023 Announcement • May 13
Black Rose Industries Limited Announces Board Changes Black Rose Industries Limited announced that as recommended by the Nomination and Remuneration Committee, the Board of Directors of the company, through Circular Resolution approved by a majority of Directors on May 12, 2023 have appointed Mr. Ratan Kumar Agrawal, Chief Financial Officer (DIN - 10157423), as an Additional Director (Non- Independent and Executive) of the company, with effect from 11th May, 2023 and he will hold office till upcoming annual general meeting. The company has received a letter from Mr. Sandeep Chokhani (DIN 02346782) tendering his resignation from the Directorship of the company due to his personal reasons. The company further confirms that there are no other material reasons. His resignation has been accepted by the Board and the resignation will be effective from the close of business hours on 11th May, 2023. Mr. Ratan Kumar Agrawal possesses over 25 years of rich experience in the field of finance and accounts. Mr. Agrawal is been associated with the Company since 2008 and is currently designated as Chief Financial Officer of the Company. He has competency in managing Company's Finance and Investments. Mr. Sandeep Chokhani informed the Board that due to his personal reason, he wish to relieve himself from the responsibility of directorship of the company. Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Whole-Time Director Sandeep Chokhani was the last director to join the board, commencing their role in 2020. 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 • Mar 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹106, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 20x in the Trade Distributors industry in India. Total returns to shareholders of 40% over the past three years. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹0.05 (vs ₹1.86 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.05 (down from ₹1.86 in 3Q 2022). Revenue: ₹975.0m (down 24% from 3Q 2022). Net income: ₹2.71m (down 97% from 3Q 2022). Profit margin: 0.3% (down from 7.4% 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 6% per year and the company’s share price has also increased by 6% per year. Announcement • Jan 18
Black Rose Industries Limited to Report Q3, 2023 Results on Feb 10, 2023 Black Rose Industries Limited announced that they will report Q3, 2023 results on Feb 10, 2023 Reported Earnings • Nov 19
Second quarter 2023 earnings released: EPS: ₹0.30 (vs ₹1.81 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.30 (down from ₹1.81 in 2Q 2022). Revenue: ₹1.02b (down 19% from 2Q 2022). Net income: ₹15.5m (down 83% from 2Q 2022). Profit margin: 1.5% (down from 7.3% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 05
Black Rose Industries Limited to Report Q2, 2023 Results on Nov 14, 2022 Black Rose Industries Limited announced that they will report Q2, 2023 results on Nov 14, 2022 Upcoming Dividend • Sep 14
Upcoming dividend of ₹0.75 per share Eligible shareholders must have bought the stock before 21 September 2022. Payment date: 29 October 2022. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.1%). Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: ₹0.84 (vs ₹1.47 in 1Q 2022) First quarter 2023 results: EPS: ₹0.84 (down from ₹1.47 in 1Q 2022). Revenue: ₹1.20b (up 21% from 1Q 2022). Net income: ₹42.8m (down 43% from 1Q 2022). Profit margin: 3.6% (down from 7.5% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 13
Black Rose Industries Limited, Annual General Meeting, Sep 29, 2022 Black Rose Industries Limited, Annual General Meeting, Sep 29, 2022. Announcement • Jun 30
Black Rose Industries Limited Announces Management Changes Black Rose Industries Limited announced that Mrs. Harshita N. Shetty has been appointed as Company Secretary of the Company with effect from June 29, 2022. Mrs. Harshita N. Shetty has been appointed as Company Secretary and KMP of the company in place of Mr. Nevil Avlani, who resigned from the said post with effect from January 03, 2022. Educational Qualification: Qualified Company Secretary - ICSI. Bachelor in Commerce - Graduate. Work Experience - Ms. Shetty has over 4.5 years of experience in Corporate Secretarial Affairs & Statutory Compliances. She joined the company in January 2022 and prior to her joining she has worked as Assistant Company Secretary. Reported Earnings • May 06
Full year 2022 earnings released: EPS: ₹6.25 (vs ₹5.38 in FY 2021) Full year 2022 results: EPS: ₹6.25 (up from ₹5.38 in FY 2021). Revenue: ₹4.89b (up 29% from FY 2021). Net income: ₹319.0m (up 16% from FY 2021). Profit margin: 6.5% (down from 7.2% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 09
Black Rose Industries Limited to Report Q4, 2022 Results on May 04, 2022 Black Rose Industries Limited announced that they will report Q4, 2022 results on May 04, 2022 Announcement • Apr 05
Black Rose Industries Limited Appoints Mr. Basant Goenka as Member of Audit Committee Black Rose Industries Limited announced that appointment of Mr. Basant Goenka as member of audit committee of the board. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 21% share price gain to ₹219, the stock trades at a trailing P/E ratio of 31.6x. Average trailing P/E is 20x in the Trade Distributors industry in India. Total returns to shareholders of 421% over the past three years. Reported Earnings • Feb 04
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹1.86 (down from ₹1.95 in 3Q 2021). Revenue: ₹1.29b (up 7.2% from 3Q 2021). Net income: ₹94.7m (down 4.9% from 3Q 2021). Profit margin: 7.4% (down from 8.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 04
Black Rose Industries Limited Approves Appointment of Ambarish Daga as Joint Chief Financial Officer Black Rose Industries Limited announced that at its board meeting held on February 3, 2021, shareholders approved the appointment of Mr. Ambarish Daga as Joint Chief Financial Officer of the company effective 3 February, 2022. Reported Earnings • Nov 03
Second quarter 2022 earnings released: EPS ₹1.81 (vs ₹1.22 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹1.26b (up 12% from 2Q 2021). Net income: ₹92.2m (up 48% from 2Q 2021). Profit margin: 7.3% (up from 5.5% in 2Q 2021). The increase in margin was driven by higher revenue. Upcoming Dividend • Sep 14
Upcoming dividend of ₹0.45 per share Eligible shareholders must have bought the stock before 21 September 2021. Payment date: 29 October 2021. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.1%). Reported Earnings • Aug 15
First quarter 2022 earnings released: EPS ₹1.47 (vs ₹0.41 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹992.2m (up 141% from 1Q 2021). Net income: ₹74.8m (up 257% from 1Q 2021). Profit margin: 7.5% (up from 5.1% in 1Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 16% share price gain to ₹208, the stock trades at a trailing P/E ratio of 38.7x. Average trailing P/E is 23x in the Trade Distributors industry in India. Total returns to shareholders of 356% over the past three years. Reported Earnings • May 29
Full year 2021 earnings released: EPS ₹5.38 (vs ₹4.05 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹3.81b (up 2.1% from FY 2020). Net income: ₹274.4m (up 33% from FY 2020). Profit margin: 7.2% (up from 5.5% in FY 2020). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 28
Black Rose Industries Limited Recommends Dividend for the Financial Year 2020-21 Black Rose Industries Limited announced at the board meeting held on May 27, 2021 that the company approved to recommend a dividend of INR 0.45 per equity share (either at 45% on the paid - up equity share capital) for the financial year ended 31st March, 2021, subject to the approval of the shareholders at the upcoming Annual General Meeting of the Company. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improved over the past week After last week's 26% share price gain to ₹185, the stock trades at a trailing P/E ratio of 41.6x. Average trailing P/E is 23x in the Trade Distributors industry in India. Total returns to shareholders of 277% over the past three years. Is New 90 Day High Low • Mar 12
New 90-day high: ₹155 The company is up 19% from its price of ₹130 on 11 December 2020. The Indian market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Trade Distributors industry, which is up 83% over the same period. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improved over the past week After last week's 17% share price gain to ₹155, the stock is trading at a trailing P/E ratio of 34.9x, up from the previous P/E ratio of 29.7x. This compares to an average P/E of 24x in the Trade Distributors industry in India. Total returns to shareholders over the past three years are 233%. Reported Earnings • Feb 10
Third quarter 2021 earnings released: EPS ₹1.95 (vs ₹1.02 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹1.20b (up 27% from 3Q 2020). Net income: ₹99.5m (up 92% from 3Q 2020). Profit margin: 8.3% (up from 5.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 01
Black Rose Industries Limited to Report Q3, 2021 Results on Feb 08, 2021 Black Rose Industries Limited announced that they will report Q3, 2021 results on Feb 08, 2021 Is New 90 Day High Low • Jan 05
New 90-day high: ₹143 The company is up 15% from its price of ₹125 on 07 October 2020. The Indian market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 46% over the same period. Announcement • Nov 13
Black Rose Industries Limited Appoints Sujay Sheth as Chairman of the Committee Black Rose Industries Limited announced that the members of Audit Committee at its meeting held on November 12, 2020 elected Mr. Sujay Sheth, Non-Executive Independent Director of the company as Regular Chairman of the Committee. Reported Earnings • Nov 13
Second quarter 2021 earnings released: EPS ₹1.22 The company reported a mediocre second quarter result with weaker profit margins, although earnings were flat and revenues were improved. Second quarter 2021 results: Revenue: ₹1.13b (up 18% from 2Q 2020). Net income: ₹62.2m (flat on 2Q 2020). Profit margin: 5.5% (down from 6.5% in 2Q 2020). The decrease in margin was driven by higher expenses. Announcement • Nov 06
Black Rose Industries Limited to Report Q2, 2021 Results on Nov 12, 2020 Black Rose Industries Limited announced that they will report Q2, 2021 results on Nov 12, 2020 Is New 90 Day High Low • Nov 02
New 90-day low: ₹119 The company is down 18% from its price of ₹145 on 04 August 2020. The Indian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 60% over the same period. Is New 90 Day High Low • Oct 15
New 90-day low: ₹120 The company is down 8.0% from its price of ₹130 on 17 July 2020. The Indian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 66% over the same period. Is New 90 Day High Low • Sep 23
New 90-day low: ₹125 The company is down 7.0% from its price of ₹134 on 25 June 2020. The Indian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 53% over the same period. Announcement • Aug 22
Black Rose Industries Limited to Report Q1, 2021 Results on Aug 28, 2020 Black Rose Industries Limited announced that they will report Q1, 2021 results on Aug 28, 2020