Nyssa Corporation Ltd (504378)
🎯 Key Takeaways
- Nyssa Corporation Ltd appears to be in a severe distress phase, marked by persistent losses, negative ROE and ROCE, and near-zero revenue generation. The company has minimal equity and asset base, with financial performance showing a sharp decline from modest profitability in Jun 2025 to complete operational collapse by Dec 2025.
- ⚠️ 1) The company has not generated revenue for three consecutive quarters, raising concerns about permanent operational shutdown. 2) Negative profitabil
- Market Cap
- ₹6
- P/B Ratio
- 0.20
- ROE
- -6.8%
- ROCE
- -8.0%
- Debt/Equity
- 0.05
- Promoter
- 0.0%
📖 The Story
Nyssa Corporation Ltd appears to be in a severe distress phase, marked by persistent losses, negative ROE and ROCE, and near-zero revenue generation. The company has minimal equity and asset base, with financial performance showing a sharp decline from modest profitability in Jun 2025 to complete operational collapse by Dec 2025. Its entire business model seems to have been divested or dormant, with recent board actions focused on finalizing the sale of its last remaining associate.
📰 What's Happening
The most significant development is the board's approval on 2026-08-27 to sell its entire stake in associate Om Vasistha Developers, including all assets and liabilities, pending shareholder approval via postal ballot or EOGM. This move suggests an attempt to streamline operations and exit residual holdings, but the company has not generated meaningful revenue since Jun 2025, indicating a potential wind-down of all material business activities.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 0 | 1 | 0 | 0 |
| Operating Profit | -4 | 1 | -0 | -0 |
| OPM % | -2592.9% | 59.9% | -78.6% | — |
| Net Profit | -3 | 1 | -0 | 0 |
| EPS | ₹-0.96 | ₹0.24 | ₹-0.01 | ₹0.03 |
Financial performance shows a dramatic deterioration, with revenue collapsing from ₹1 crore in Jun 2025 to ₹0 in subsequent quarters, while profitability swung from a ₹1 crore net profit to ₹3 crore net loss by Dec 2025. Operating margins turned deeply negative, reaching -2592.9% in Mar 2025, reflecting severe cost structure issues or accounting anomalies. The company has not generated operating cash flow since Mar 2025, with only minor financing inflows offsetting negative operating cash.
🔮 Management Outlook & What's Next
Management has not provided forward-looking guidance in the available filings, but the board's actions indicate a focus on completing the sale of Om Vasistha Developers as a final step in corporate simplification. The company's future is contingent on shareholder approval of this transaction, after which it may cease to have any operational assets or liabilities. No strategic roadmap or revival plan has been disclosed.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2024 | Mar 2025 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 |
| Reserves | 27 | 28 | 30 | 28 |
| Borrowings | 2 | 2 | 2 | 2 |
| Total Liabilities | 38 | 38 | 40 | 37 |
| Fixed Assets | 0 | 0 | 0 | 0 |
| Investments | 1 | 1 | 1 | 1 |
| Total Assets | 38 | 38 | 40 | 37 |
The balance sheet remains extremely thin, with total assets declining slightly from ₹40 crore to ₹37 crore between Mar 2025 and Mar 2026, while equity and reserves remain flat at ₹3 crore and ₹28 crore respectively. Borrowings are negligible at ₹2 crore, suggesting minimal debt obligations. The company appears to be asset-light and possibly holding only residual financial liabilities, with no active investment or operational assets remaining.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | -5 |
| Investing | 0 |
| Financing | +5 |
| Net Cash Flow | -0 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 0.0% | 0.0% | 0.0% | 0.0% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 82.6% | 94.5% | 87.0% | 87.8% |
| # Shareholders | 30,119 | 25,488 | 28,642 | 28,127 |
Retail investor base has been volatile, declining from 94.52% public holding in Q3FY26 to 82.57% in Q2FY26, though it stabilized around 87% in Q1FY27. However, promoter and institutional holdings remain at 0%, indicating no strategic or passive institutional interest. The growing number of shareholders (28,127 in Q1FY27) with no institutional presence suggests fragmented retail ownership and potential liquidity risks.
⚖️ Peer Comparison — Finance
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| BAJFINANCE | 6.13 L Cr | 30.2 | 10.4% | — | 3.82 |
| BAJAJFINSV | 2.80 L Cr | 27.5 | 11.4% | — | 5.50 |
| SHRIRAMFIN | 2.30 L Cr | 17.3 | 11.5% | — | 3.80 |
| ICICIAMC | 1.59 L Cr | 31.8 | 111.5% | — | 0.00 |
| JIOFIN | 1.45 L Cr | 68.4 | 2.3% | — | 0.17 |
| CHOLAFIN | 1.40 L Cr | 24.2 | 9.3% | — | 6.93 |
| TATACAP | 1.39 L Cr | 25.4 | 8.4% | — | 5.28 |
| BAJAJHLDNG | 1.21 L Cr | 13.6 | 12.4% | — | 0.00 |
| MUTHOOTFIN | 1.11 L Cr | 9.8 | 14.4% | — | 3.88 |
| PFC | 1.09 L Cr | 4.2 | 9.8% | — | 7.62 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) The company has not generated revenue for three consecutive quarters, raising concerns about permanent operational shutdown. 2) Negative profitability metrics and declining asset base suggest capital erosion. 3) Dependence on a single pending shareholder vote to complete asset disposal introduces execution risk. 4) No disclosed plans for revival or new business creation, increasing uncertainty around long-term viability.
📋 Recent Filings
- Announcement2026-09-29Nyssa Corporation Ltd announced that its trading window will close on October 1, 2026, ahead of the release of un-audited Q2 results for the quarter e…
- 🔴 Corporate Action2026-09-29Nyssa Corporation Ltd informed BSE that, under SEBI Regulation 57(4), it issued no non-convertible securities during Q3 FY27 ending December 31, 2026,…
- 🟡 Board Meeting2026-08-27The board approved selling its entire stake in associate Om Vasistha Developers, including assets and liabilities, pending shareholder approval via po…
🧠 Analyst's Read
Nyssa Corporation Ltd is effectively in a dissolution phase, with minimal operations and financials trending toward zero. The pending sale of its last associate may mark the end of its corporate existence, making it a high-risk, low-liquidity entity with no clear path to recovery or value creation.
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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