Share Price | Carnation Industries Ltd Stock Analysis & Recommendation

Q: Are Carnation Inds. latest results good or bad?

Carnation Industries' latest results can be viewed as a mixed bag. While the financial performance for the quarter ending December 2023 was flat, there are some positive signs worth noting. The company has seen an improvement in its overall score, which has risen from 2 to 3 over the last three months. This suggests a potential upward trend.Notably, the operating profit (PBDIT) for the quarter reached its highest level in the last five quarters at Rs -0.03 crore, indicating a positive trend for the company's operating performance. Similarly, the profit after tax (PAT) also hit its highest in the same period, again at Rs -0.03 crore, which reflects an improvement in profitability.Additionally, the earnings per share (EPS) for the quarter was the highest in the last five quarters at Rs -0.09, suggesting that the company is generating higher earnings for its shareholders.In summary, while the overall financial performance may not have shown significant growth, the improvements in key financial indicators could signal potential for future growth, even though the market has issued a 'Sell' call.

Q: How has been the historical performance of Carnation Inds.?

Answer:The historical performance of Carnation Inds. shows a significant decline in financial health over the years, particularly from 2018 to 2023.Breakdown:Carnation Inds. has experienced a downward trend in its financial metrics over the past several years. The company's total assets decreased from Rs 69.44 crore in March 2018 to Rs 1.34 crore in March 2023. Shareholder's funds also fell sharply, moving from Rs 11.88 crore in March 2018 to Rs -2.41 crore in March 2023, indicating increasing financial distress. Total liabilities have similarly decreased from Rs 56.44 crore in March 2019 to Rs 1.34 crore in March 2023, with a notable reduction in trade payables and current liabilities. The company's cash flow from operating activities has been negative since March 2022, with a profit before tax of Rs -1.00 crore in March 2023, reflecting ongoing operational challenges. The book value per share has turned negative, dropping from Rs 34.38 in March 2018 to Rs -6.98 in March 2023, highlighting the deteriorating value for shareholders. Overall, the financial data suggests that Carnation Inds. has faced significant operational and financial difficulties in recent years.

Q: When is the next results date for Carnation Industries Ltd?

The next results date for Carnation Industries Ltd is scheduled for January 27, 2026.

Q: Should I buy, sell or hold Carnation Industries Ltd?

Based on the current situation of Carnation Industries Ltd, it would be advisable to consider selling your shares. The company is facing significant challenges, including a negative book value and weak long-term fundamental strength. The annual growth rate of net sales has been alarmingly low at -100.00%, and while there has been some operating profit, it is not enough to offset the overall negative performance.Additionally, the recent financial results show that the operating profit, pre-tax profit, and net profit for the latest quarter are all at their lowest, indicating ongoing financial difficulties. The high debt levels, with a debt-to-equity ratio averaging 0, further complicate the company's financial health.Moreover, the stock's performance over the past year has been stagnant, generating a return of 0.00%, despite a 20% increase in profits. This suggests that the stock is trading at a risky level compared to its historical valuations.Given these factors, it may be prudent to sell your shares in Carnation Industries Ltd and look for more stable investment opportunities.

52-Week High: Rs.78.4 hit today

Price Point

High/Low

1Day

52 Week

Valuation

Technical

Day's Volume

CASH

154 (31.62%) Volume

Shareholding (Dec 2025)

FII

0.00%

Held by 0 FIIs

DII

0.00%

Held by 0 DIIs

Promoter

89.98%

Are Carnation Inds. latest results good or bad?

23-Oct-2025

Carnation Industries' latest results are mixed; while the overall performance was flat, key indicators like operating profit and earnings per share reached their highest levels in five quarters, suggesting potential for future growth despite a current 'Sell' call from the market.

View full answer

How has been the historical performance of Carnation Inds.?

23-Oct-2025

Carnation Inds. has experienced a significant decline in financial health from 2018 to 2023, with total assets dropping from Rs 69.44 crore to Rs 1.34 crore and negative shareholder's funds of Rs -2.41 crore. The company has faced ongoing operational challenges, reflected in negative cash flow and a profit before tax of Rs -1.00 crore in March 2023.

View full answer

When is the next results date for Carnation Industries Ltd?

21-Jan-2026

The next results date for Carnation Industries Ltd is January 27, 2026.

View full answer

Should I buy, sell or hold Carnation Industries Ltd?

27-Jan-2026

Why is Carnation Industries Ltd falling/rising?

31-Jan-2026

As of 31-Jan, the stock price of Carnation Industries Ltd is Rs. 74.67, unchanged from the previous session, with a notable 21.51% increase over the past month. While the stock shows strong short-term performance, concerns about its long-term fundamentals, including negative book value and high debt, persist.

View full answer

Which are the latest news on Carnation Inds.?

01-Feb-2026

Carnation Industries Ltd Hits New 52-Week High at Rs.74.67
When is the next results date for Carnation Industries Ltd?

Compare Carnation Inds. with Similar Stocks

Bharat Forge Hindusthan Udyog Sona BLW Precis.

Score

Click here to find our call on this stock

Strong Sell

Sell

Hold

Buy

Strong Buy

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Dashboard

With a Negative Book Value, the company has a Weak Long Term Fundamental Strength

Poor long term growth as Net Sales has grown by an annual rate of % and Operating profit at 0% over the last 5 years
High Debt Company with a Debt to Equity ratio (avg) at 0 times

Flat results in Mar 25

Risky - Negative EBITDA

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

Industry

Castings/Forgings

Market cap

INR 26 Cr (Micro Cap)

P/E

18.00

Industry P/E

Dividend Yield

0.00%

Debt Equity

-0.72

Return on Equity

-58.92%

Price to Book

-10.71

Revenue and Profits:

Net Sales:

(Quarterly Results - Dec 2025)

Net Profit:

-1 Cr

Total Returns

Total Returns (Price + Dividend)

Dividend Yield (0%)

TimePeriod

Price Return

Dividend Return

Total Return

3 Months

164.78%

6 Months

0.0%

1 Year

0.0%

2 Years

960.89%

3 Years

1798.31%

4 Years

1300.0%

5 Years

1075.41%

Latest dividend: 0.4000 per share ex-dividend date: Sep-14-2017

Risk Adjusted Returns v/s

Returns Beta

Beta has not been calculated since enough price history is not available

News & Corporate Actions

News

Carnation Industries Ltd Hits New 52-Week High at Rs.78.4

Carnation Industries Ltd surged to a fresh 52-week high of Rs.78.4 today, marking a significant milestone in its stock performance. The rally was characterised by strong momentum, with the stock opening sharply higher and maintaining its elevated levels throughout the trading session.

Read full news article

Carnation Industries Ltd Stock Hits All-Time High at Rs 78.4

Carnation Industries Ltd reached a new all-time high of Rs.78.4 on 1 Feb 2026, reflecting a remarkable surge in its stock price and underscoring the company’s strong market performance over recent months.

Read full news article

Carnation Industries Ltd Hits New 52-Week High at Rs.74.67

Carnation Industries Ltd surged to a fresh 52-week high of Rs.74.67 today, marking a significant milestone in its price performance. The stock demonstrated robust momentum, opening with a gap up and maintaining its elevated levels throughout the trading session.

Read full news article

Announcements

Announcement under Regulation 30 (LODR)-Newspaper Publication

28-Jan-2026 | Source : BSE

Newspaper advertisement of Unaudited Financial Results of the Company for Quarter and nine months ended December 31 2025.

Board Meeting Outcome for Outcome Of Board Meeting Held On Tuesday January 27 2026

27-Jan-2026 | Source : BSE

Outcome of Board Meeting held on Tuesday January 27 2026.

Unaudited Financial Results For The Quarter Ended December 31 2025.

27-Jan-2026 | Source : BSE

Unaudited Financial Results for the Quarter ended December 31 2025.

Corporate Actions

BOARD MEETING

No Upcoming Board Meetings

DIVIDEND

Carnation Industries Ltd has declared 4% dividend, ex-date: 14 Sep 17

SPLITS

No Splits history available

BONUS

No Bonus history available

RIGHTS

No Rights history available

Key Factors

Quality key factors

Factor

Value

Sales Growth (5y)

0.00%

EBIT Growth (5y)

0.00%

EBIT to Interest (avg)

Debt to EBITDA (avg)

Negative Net Debt

Net Debt to Equity (avg)

-0.72

Sales to Capital Employed (avg)

Tax Ratio

Tax Ratio is Negative%

Dividend Payout Ratio

Pledged Shares

Institutional Holding

ROCE (avg)

-42.57%

ROE (avg)

Valuation key factors

Factor

Value

P/E Ratio

Industry P/E

Price to Book Value

-10.71

EV to EBIT

-27.54

EV to EBITDA

-27.54

EV to Capital Employed

-27.54

EV to Sales

PEG Ratio

Dividend Yield

ROCE (Latest)

Negative Capital Employed

ROE (Latest)

Negative BV

Technicals key factors

Indicator

Weekly

Monthly

MACD

Bullish

RSI

Bullish

Bearish

Bollinger Bands

Bullish

Moving Averages

Bullish (Daily)

KST

Bullish

Dow Theory

Mildly Bullish

OBV

No Trend

Bullish

Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned

Shareholding

Shareholding Snapshot : Dec 2025

Shareholding Compare (%holding)

Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 0 Schemes

FIIs

Held by 0 FIIs

Promoter with highest holding

Vikas Garg (89.98%)

Highest Public shareholder

Sajal Kumar Kundu (1.28%)

Individual Investors Holdings

7.63%

Financial

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          "field": "Interest",
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          "val2": "0.00",
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          "chgp_class": "neutral"
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        {
          "field": "Standalone Net Profit",
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          "field": "Operating Profit Margin (Excl OI)",
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          "field": "Interest",
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Quarterly Results Snapshot (Standalone) - Dec'25 - YoY

Dec'25

Dec'24

Change(%)

Net Sales

0.00

Operating Profit (PBDIT) excl Other Income

-0.21

-0.22

4.55%

Interest

0.31

0.00

Exceptional Items

0.00

Standalone Net Profit

-0.54

-0.27

-100.00%

Operating Profit Margin (Excl OI)

0.00%

Values in Rs Cr.

Compare with Peers

Net Sales

YoY Growth in quarter ended Dec 2025 is 0.00% vs 0.00% in Dec 2024

Standalone Net Profit

YoY Growth in quarter ended Dec 2025 is -100.00% vs -800.00% in Dec 2024

All Quarterly Results

Half Yearly Results Snapshot (Standalone) - Sep'25

Sep'25

Sep'24

Change(%)

Net Sales

0.00

Operating Profit (PBDIT) excl Other Income

-0.31

-0.12

-158.33%

Interest

0.05

0.00

Exceptional Items

0.00

Standalone Net Profit

-0.35

2.19

-115.98%

Operating Profit Margin (Excl OI)

0.00%

Values in Rs Cr.

Compare with Peers

Net Sales

Growth in half year ended Sep 2025 is 0.00% vs 0.00% in Sep 2024

Standalone Net Profit

Growth in half year ended Sep 2025 is -115.98% vs 806.45% in Sep 2024

All Half Yearly Results

Nine Monthly Results Snapshot (Standalone) - Dec'25

Dec'25

Dec'24

Change(%)

Net Sales

0.00

Operating Profit (PBDIT) excl Other Income

-0.52

-0.34

-52.94%

Interest

0.36

0.00

Exceptional Items

0.00

Standalone Net Profit

-0.89

1.92

-146.35%

Operating Profit Margin (Excl OI)

0.00%

Values in Rs Cr.

Compare with Peers

Net Sales

YoY Growth in nine months ended Dec 2025 is 0.00% vs 0.00% in Dec 2024

Standalone Net Profit

YoY Growth in nine months ended Dec 2025 is -146.35% vs 664.71% in Dec 2024

All Nine Monthly Results

Annual Results Snapshot (Standalone) - Mar'25

Mar'25

Mar'23

Change(%)

Net Sales

0.00

Operating Profit (PBDIT) excl Other Income

-0.84

-0.51

-64.71%

Interest

0.00

0.23

-100.00%

Exceptional Items

0.00

-0.31

100.00%

Standalone Net Profit

1.42

-1.22

216.39%

Operating Profit Margin (Excl OI)

0.00%

Values in Rs Cr.

Compare with Peers

Net Sales

YoY Growth in year ended Mar 2025 is 0.00% vs 0.00% in Mar 2023

Standalone Net Profit

YoY Growth in year ended Mar 2025 is 216.39% vs -60.53% in Mar 2023

All Annual Results

Company CV

About Carnation Industries Ltd

Carnation Industries Ltd

Micro Cap

Castings/Forgings

Initiated in 1982, as Carnation Enterprise Pvt. Ltd, the Company has come to be known as Carnation Industries Limited in 1994. The Company initially started off as a merchant exporter firm and made a gradual shift into manufacturing by the mid-eighties and today has three Grey Iron foundries and one Ductile Iron unit in West Bengal.

Company Coordinates

Company Details

28/1 Jheel Road Liluah, P O Salkia Howrah West Bengal : 711106

Tel: 91-33-26454785

http://www.carnationindustries.com

info@carnationindustries.com

Registrar Details

R&D Infotech Pvt Ltd, 7 A Beltala Road, Kolkata

Carnation Inds.

1Day

52 Week

CASH

FII

DII

Promoter

Are Carnation Inds. latest results good or bad?

Watch in Real-Time

How has been the historical performance of Carnation Inds.?

When is the next results date for Carnation Industries Ltd?

Should I buy, sell or hold Carnation Industries Ltd?

Why is Carnation Industries Ltd falling/rising?

Which are the latest news on Carnation Inds.?

Compare Carnation Inds. with Similar Stocks

MarketsMojo — Loved in India, Now Global

Dashboard

With a Negative Book Value, the company has a Weak Long Term Fundamental Strength

Flat results in Mar 25

Risky - Negative EBITDA

Mojo Parameters

Stock DNA

Total Returns (Price + Dividend)

Risk Adjusted Returns v/s

Returns Beta

News

Carnation Industries Ltd Hits New 52-Week High at Rs.78.4

Carnation Industries Ltd Stock Hits All-Time High at Rs 78.4

Carnation Industries Ltd Hits New 52-Week High at Rs.74.67

Announcements

Announcement under Regulation 30 (LODR)-Newspaper Publication

Board Meeting Outcome for Outcome Of Board Meeting Held On Tuesday January 27 2026

Unaudited Financial Results For The Quarter Ended December 31 2025.

Corporate Actions

Quality key factors

Valuation key factors

Technicals key factors

Shareholding Snapshot : Dec 2025

Shareholding Compare (%holding)

Quarterly Results Snapshot (Standalone) - Dec'25 - YoY

Half Yearly Results Snapshot (Standalone) - Sep'25

Nine Monthly Results Snapshot (Standalone) - Dec'25

Annual Results Snapshot (Standalone) - Mar'25

About Carnation Industries Ltd

Company Coordinates