Stock Performance and Market Context
On 3 Feb 2026, Solid Stone Company Ltd’s stock price touched Rs.24.41, representing a decline of 2.17% on the day. This performance lagged behind the Ceramics/Marble/Granite/Sanitaryware sector, which gained 3.2% during the same period. The stock is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained downward momentum.
In contrast, the broader market showed mixed signals. The Sensex opened with a gap up of 3,656.74 points but subsequently lost 1,420.56 points, closing at 83,902.64, down 2.74%. Despite this, the Sensex remains only 2.69% below its 52-week high of 86,159.02. Mega-cap stocks led the market gains, while mid and small caps faced pressure.
Long-Term Performance and Relative Weakness
Over the last twelve months, Solid Stone Company Ltd has delivered a total return of -25.43%, significantly underperforming the Sensex’s positive return of 8.69% during the same period. The stock’s 52-week high was Rs.41.29, indicating a substantial decline of over 40% from that peak.
This underperformance is consistent with the company’s track record over the past three years, during which it has lagged behind the BSE500 index annually. The persistent negative returns highlight challenges in maintaining competitive growth and shareholder value.
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Financial Metrics and Valuation Insights
Solid Stone Company Ltd’s financial fundamentals have contributed to its subdued market performance. The company’s average Return on Capital Employed (ROCE) stands at 6.77%, reflecting limited efficiency in generating returns from its capital base. The half-year ROCE was recorded at 7.21%, the lowest among its recent results.
Net sales have shown modest growth over the past five years, with an annualised increase of just 3.05%. However, the most recent quarterly net sales figure of Rs.6.30 crore represents a decline of 13.4% compared to the previous four-quarter average, indicating a contraction in revenue generation.
Debt servicing capacity remains a concern, with a high Debt to EBITDA ratio of 5.37 times, suggesting elevated leverage and potential strain on cash flows. Despite these challenges, the company’s valuation metrics present a contrasting picture. The stock trades at an enterprise value to capital employed ratio of 0.8, which is considered very attractive relative to its peers’ historical valuations.
Sector and Shareholding Overview
The Ceramics/Marble/Granite/Sanitaryware sector has experienced positive momentum, gaining 3.2% on the day Solid Stone Company Ltd’s stock declined. This divergence underscores the company’s relative weakness within its industry segment.
Promoters remain the majority shareholders, maintaining significant control over the company’s strategic direction and governance.
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Mojo Score and Rating Update
MarketsMOJO assigns Solid Stone Company Ltd a Mojo Score of 26.0, categorising it with a Strong Sell grade as of 13 Nov 2025. This represents a downgrade from the previous Sell rating, reflecting deteriorating fundamentals and market sentiment. The company’s market capitalisation grade is rated 4, indicating a relatively modest size within the miscellaneous sector.
The downgrade aligns with the company’s financial performance trends, including declining profitability and constrained growth prospects.
Summary of Key Financial and Market Indicators
To summarise, Solid Stone Company Ltd’s stock has reached a new 52-week low of Rs.24.41 amid a broader market environment where the Sensex remains near its yearly highs. The stock’s underperformance is underscored by a one-year return of -25.43%, contrasting with the Sensex’s positive 8.69% return. The company’s financial metrics reveal limited growth, low returns on capital, and high leverage, factors contributing to its current valuation and rating status.
While the sector has shown gains, Solid Stone Company Ltd’s share price trajectory and fundamental indicators highlight ongoing challenges in maintaining competitive positioning and investor confidence.
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