Superhouse Ltd (SUPERHOUSE)
🎯 Key Takeaways
- Superhouse Ltd is in a quiet restructuring phase, marked by the planned exit from its loss-making French subsidiary and a stable but low-growth financial profile. Management is focused on simplifying operations and returning capital via dividends, while navigating modest revenue trends and elevated leverage concerns.
- Revenue grew 5.1% QoQ to ₹163 in Q1FY27.
- ⚠️ The negative credit rating outlook from Acuite introduces refinancing and liquidity risks, especially if operating performance does not improve.
- Market Cap
- ₹176
- P/E Ratio
- 37.1
- P/B Ratio
- 0.38
- ROE
- 1.7%
- ROCE
- 4.8%
- Debt/Equity
- 0.39
- Div Yield
- 0.50%
- Promoter
- 54.9%
📖 The Story
Superhouse Ltd is in a quiet restructuring phase, marked by the planned exit from its loss-making French subsidiary and a stable but low-growth financial profile. Management is focused on simplifying operations and returning capital via dividends, while navigating modest revenue trends and elevated leverage concerns.
📰 What's Happening
The company has initiated the sale or liquidation of its French subsidiary, MIS LA Compagnie Francaise De Protection SARL, with completion targeted by March 31, 2027, pending buyer identification and regulatory approvals. This follows board approval of unaudited Q1 FY2026 results and the disposal plan, announced on August 13, 2026. The subsidiary’s minimal contribution to revenue and net worth suggests the move is more strategic than transformative. Additionally, the board approved audited FY2025-26 results on May 30, 2026, recommending a final dividend of Rs 0.80 per share, payable in October 2026 after shareholder approval at the AGM scheduled for September 30, 2026.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 163 | 190 | 169 | 155 | 163 |
| Operating Profit | 2 | 8 | 5 | 7 | 6 |
| OPM % | 1.3% | 4.1% | 2.8% | 4.8% | 3.4% |
| Net Profit | -1 | 3 | 1 | -2 | 3 |
| EPS | ₹-0.49 | ₹3.72 | ₹1.06 | ₹-1.43 | ₹4.09 |
Revenue has shown volatility over the past year, peaking at ₹190 crore in September 2025 before declining to ₹163 crore in June 2026, with operating margins compressing to 3.4% in the latest quarter. Profitability remains weak, with a net loss of ₹2 crore in March 2026, though this follows a ₹3 crore profit in September 2025. The company reported an operating cash flow of ₹53 crore in March 2026, but financing activities consumed ₹49 crore, resulting in a modest net cash inflow. Despite stable top-line levels, margins have not improved meaningfully, indicating limited operational leverage.
🔮 Management Outlook & What's Next
Management has not provided explicit forward guidance on revenue or margin expectations in the latest filings. However, the board’s actions suggest a focus on capital allocation discipline, including dividend continuity and exit from non-core underperforming assets. The reaffirmation of the A- credit rating with a negative outlook underscores ongoing concerns about debt management, though no corrective measures have been disclosed. Investor focus is likely to remain on execution of the subsidiary exit and its impact on balance sheet simplification.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 |
| Reserves | 446 | 445 | 451 | 451 |
| Borrowings | 211 | 199 | 181 | 189 |
| Total Liabilities | 861 | 890 | 862 | 901 |
| Fixed Assets | 252 | 247 | 250 | 248 |
| Investments | 30 | 30 | 38 | 32 |
| Total Assets | 861 | 890 | 862 | 901 |
The balance sheet shows stable equity at ₹11 crore and reserves at ₹451 crore as of March 2026, with borrowings slightly reduced to ₹181 crore from ₹189 crore in the prior quarter. Total assets declined marginally to ₹862 crore, down from ₹901 crore three months earlier, reflecting possible asset sales or write-downs linked to the subsidiary exit. The debt-to-equity ratio remains low at 0.39, but the negative credit rating outlook raises concerns about long-term debt sustainability despite current comfort levels.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2026 |
|---|---|
| Operating | +53 |
| Investing | +0 |
| Financing | -49 |
| Net Cash Flow | +4 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 54.9% | 54.9% | 54.9% | 54.9% |
| FII | 0.7% | 0.7% | 0.7% | 0.7% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 30.3% | 29.7% | 29.8% | 29.7% |
| # Shareholders | 19,472 | 18,348 | 18,340 | 18,143 |
Promoter holding remains stable at 54.88% over the past four quarters, indicating no dilution or stake reduction. Foreign institutional investors (FII) hold a minimal 0.72%, while domestic institutional investors (DII) have a negligible 0.01% stake, down slightly from 0.01% to 0.01% with minor public float fluctuations. The shrinking public shareholder base — from 19,472 to 18,143 shareholders — suggests limited retail interest and potential liquidity constraints, though no active selling by institutions is evident.
⚖️ Peer Comparison — Leather
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| METROBRAND | 23,762 | 58.4 | 38.9% | — | 0.00 |
| BATAINDIA | 7,953 | 54.4 | 20.7% | — | 0.00 |
| RELAXO | 7,259 | 39.1 | 12.4% | — | 0.00 |
| CAMPUS | 6,405 | 50.7 | 32.5% | — | 0.41 |
| MAYURUNIQ | 3,167 | 15.3 | 29.0% | — | 0.01 |
| BIL | 1,336 | 51.7 | 10.2% | — | 1.07 |
| SREEL | 655 | 20.0 | 9.5% | — | 0.00 |
| MIRZAINT | 389 | — | -3.4% | — | 0.03 |
| LIBERTSHOE | 383 | 47.0 | 8.9% | — | 0.84 |
| KHADIM | 213 | 76.7 | 10.5% | — | 0.73 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. The negative credit rating outlook from Acuite introduces refinancing and liquidity risks, especially if operating performance does not improve. 2. Prolonged weak profitability and stagnant revenue growth could pressure margins and limit reinvestment capacity. 3. The success of the French subsidiary exit is uncertain and may be delayed, leaving legacy liabilities intact. 4. Low institutional investor interest may result in limited analyst coverage and market depth, increasing volatility.
📋 Recent Filings
- Announcement2026-09-23Superhouse Limited announced that its trading window will close on October 1, 2026, and remain shut until November 17, 2026, covering all insiders suc…
- 🟡 Board Meeting2026-08-13Superhouse Limited announced the outcome of its board meeting held on 13 August 2026, approving unaudited standalone and consolidated financial result…
- 🔴 Announcement2026-07-30Superhouse Limited disclosed a credit rating letter from Acuite Ratings and Research Limited, reaffirming its A- rating for bank loans with a negative…
- 🟡 Board Meeting2026-06-30Superhouse Limited announced its 46th Annual General Meeting on 30th September 2026, with the record date set for 15th September 2026 to determine div…
- Financial Results2026-06-23Superhouse Limited disclosed that its trading window will close on 01-07-2026 and remain shut until 17-08-2026 or 48 hours after the quarterly results…
- 🔴 Corporate Action2026-05-30Superhouse Limited announced on May 30, 2026, that its board approved audited standalone and consolidated financial results for FY2025-26, recommendin…
- 🟡 Board Meeting2026-05-30Superhouse Limited announced the outcome of its 30 May 2026 board meeting, approving audited standalone and consolidated financial results for the yea…
🧠 Analyst's Read
Superhouse Ltd appears to be managing a quiet turnaround through asset rationalization and consistent capital returns, but underlying operational weaknesses and a cautious credit outlook warrant close monitoring. Investors should watch for execution updates on the subsidiary sale and any shifts in debt trajectory or margin performance.
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 2026-09-30.
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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