Neycer India Ltd (502255)
🎯 Key Takeaways
- Neycer India Ltd is a small-cap ceramic products manufacturer with no revenue or profitability in recent quarters, indicating a dormant or non-operational phase. The company has consistently reported near-zero revenue and significant operating losses across all recent quarters, with negative EPS and no positive cash flow generation since at least September 2021.
- Revenue grew 80% QoQ to ₹0 in Q2FY22.
- ⚠️ 1) Persistent absence of revenue and operational activity for over two years, 2) Negative equity and reserves indicating cumulative losses have eroded
- ROE
- 14.7%
- ROCE
- 15.2%
- Debt/Equity
- -0.03
- Promoter
- 72.4%
📖 The Story
Neycer India Ltd is a small-cap ceramic products manufacturer with no revenue or profitability in recent quarters, indicating a dormant or non-operational phase. The company has consistently reported near-zero revenue and significant operating losses across all recent quarters, with negative EPS and no positive cash flow generation since at least September 2021.
📰 What's Happening
There are no recent operational updates, new orders, or strategic initiatives disclosed in the filings. Management has not provided any forward-looking commentary or business updates in the latest regulatory submissions. The company has not announced any expansions, product launches, or capital projects in the reviewed period.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 |
|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -1 | -0 |
| OPM % | -320.0% | -156.5% | -690.0% | -222.2% |
| Net Profit | -0 | -0 | -1 | -0 |
| EPS | ₹-0.47 | ₹-0.30 | ₹-0.67 | ₹-0.29 |
Revenue has remained stagnant at ₹0 for six consecutive quarters, with operating losses persisting and margins remaining severely negative, reflecting a complete absence of business activity. The financial trajectory shows no signs of recovery or operational revival, with losses continuing to erode equity despite no new capital expenditures.
🔮 Management Outlook & What's Next
Management has not provided any forward guidance, business outlook, or commentary in the latest filings. There is no disclosed strategy, recovery plan, or timeline for resumption of operations or revenue generation in the available regulatory disclosures.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2020 | Mar 2021 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 10 |
| Reserves | -2 | -5 | -4 | -6 | -22 |
| Borrowings | 5 | 2 | 5 | 2 | 0 |
| Total Liabilities | 28 | 28 | 28 | 27 | 23 |
| Fixed Assets | 12 | 11 | 11 | 10 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 28 | 28 | 28 | 27 | 23 |
The balance sheet shows a structurally weak capital base with negative reserves and minimal assets, while borrowings have remained low and stable. There is no evidence of active capital investment or deleveraging efforts, suggesting limited financial flexibility or strategic initiative.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2023 |
|---|---|
| Operating | -1 |
| Investing | +0 |
| Financing | -0 |
| Net Cash Flow | -0 |
👥 Shareholding Pattern
| Category | Q1FY22 | Q2FY22 | Q3FY22 | Q4FY22 |
|---|---|---|---|---|
| Promoters | 72.4% | 72.4% | 72.4% | 72.4% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 1.3% | 1.3% | 1.3% | 1.3% |
| Public | 0.9% | 0.9% | 0.9% | 0.9% |
| # Shareholders | 674 | 674 | 674 | 674 |
Promoter holding remains stable at 72.43% with no changes observed across all quarters, and institutional investor interest is negligible with FII and DII holdings consistently at 0% and 1.27% respectively. The shareholder base remains fragmented with 674 public shareholders, but lacks significant institutional participation.
⚖️ Peer Comparison — Ceramic Products
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| KAJARIACER | 18,945 | 34.7 | 26.9% | — | 0.06 |
| CERA | 6,694 | 27.3 | 23.1% | — | 0.01 |
| SOMANYCERA | 2,547 | 23.9 | 17.7% | — | 0.30 |
| NITCO | 2,039 | — | -3.9% | — | 1.48 |
| ASIANTILES | 1,485 | 86.4 | 2.8% | — | 0.19 |
| ORIENTBELL | 582 | 27.5 | 8.8% | — | 0.09 |
| EXXARO | 276 | 68.4 | 4.7% | — | 0.32 |
| MURUDCERA | 170 | 17.1 | 5.2% | — | 0.37 |
| 544073 | 100 | — | — | — | 0.57 |
| REGENCERAM | 88 | — | -138.5% | — | -1.29 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Persistent absence of revenue and operational activity for over two years, 2) Negative equity and reserves indicating cumulative losses have eroded capital, 3) Complete lack of management communication or strategic direction, 4) No visibility into business resumption or revenue generation pathway.
🧠 Analyst's Read
The company appears to be in a state of prolonged operational dormancy with no signs of revival, making it a high-risk entity with no current business model or revenue stream. Investors should monitor for any future operational updates or capital restructuring plans, but current disclosures offer no indication of near-term recovery.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-29.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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