Revenue and Profit Growth
Joindre Capital’s net sales have shown a consistent upward trend, rising from ₹17.98 crores in March 2019 to ₹48.34 crores by March 2025. Despite some fluctuations, the company has more than doubled its revenue over this six-year period, reflecting expanding business operations and market presence. Total operating income mirrors this growth, with no other operating income reported, indicating a focused core business revenue stream.
Operating profit before depreciation and interest (PBDIT) excluding other income has improved markedly, moving from a negative figure in 2019 to ₹14.88 crores in 2025. The operating profit margin has correspondingly increased from a negative margin of -10.12% in 2019 to a robust 30.78% in 2025, signalling enhanced operational efficiency and cost management.
Net profit after tax has also followed an upward trajectory, with a notable jump to ₹9.96 crores in 2025 from ₹4.71 crores in 2019. Earnings per share (EPS) have reflected this improvement, rising to ₹7.2 in 2025 from ₹3.4 in 2019, underscoring the company’s growing profitability on a per-share basis.
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Cost Structure and Margins
The company’s expenditure profile reveals stable employee costs, which have increased moderately from ₹4.89 crores in 2019 to ₹6.49 crores in 2025. Manufacturing expenses have also risen, reflecting scaling operations, from ₹11.65 crores in 2019 to ₹20.09 crores in 2025. Other expenses have increased steadily but remain controlled relative to revenue growth.
Despite rising costs, Joindre Capital has managed to improve its gross profit margin to 29.06% in 2025, a significant recovery from 8.87% in 2024 and a dip from 32.37% in 2019. This indicates effective pricing strategies and cost containment measures. The profit before tax margin has also strengthened, supported by low interest expenses and controlled depreciation.
Balance Sheet and Financial Position
Joindre Capital’s balance sheet reflects a solid financial foundation with shareholder’s funds increasing steadily from ₹60.32 crores in 2020 to ₹79.54 crores in 2025. The company maintains a debt-free status as of 2025, having eliminated short-term borrowings that were present in previous years. This deleveraging enhances financial stability and reduces interest burden.
Cash and bank balances remain strong, with ₹97.25 crores reported in 2025, supporting liquidity and operational flexibility. Total assets have grown in line with business expansion, reaching ₹145.97 crores in 2025 from ₹92.19 crores in 2020. The book value per share has appreciated from ₹43.6 in 2020 to ₹57.49 in 2025, reflecting value accretion for shareholders.
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Cash Flow Trends
Cash flow from operating activities has been volatile, with a negative outflow of ₹5 crores in 2025 following a positive inflow of ₹12 crores in 2024. This fluctuation is partly due to changes in working capital and adjustments in profit before tax. Investing activities have generally contributed positively, with ₹12 crores inflow in 2025, indicating asset sales or investment realisations.
Financing activities show a net outflow of ₹17 crores in 2025, consistent with the company’s strategy to reduce debt and optimise capital structure. The net cash outflow of ₹11 crores in 2025 contrasts with a substantial inflow of ₹37 crores in 2024, highlighting the dynamic nature of the company’s cash management.
Overall, Joindre Capital’s historical performance reveals a company that has transitioned from losses to profitability, strengthened its balance sheet, and improved operational efficiency. While some volatility in cash flows and margins exists, the long-term trend is positive, suggesting a growing and financially disciplined enterprise.
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