Dashboard
1
The company has declared Positive results for the last 4 consecutive quarters
- INTEREST COVERAGE RATIO(Q) Highest at 16,735.13
- OPERATING CASH FLOW(Y) Highest at CNY 302.34 MM
- NET SALES(HY) At CNY 501.43 MM has Grown at 25.44%
2
With ROE of 17.48%, it has a very expensive valuation with a 9.11 Price to Book Value
Total Returns (Price + Dividend) 
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
0.23%
0%
0.23%
6 Months
8.74%
0%
8.74%
1 Year
23.46%
0%
23.46%
2 Years
129.24%
0%
129.24%
3 Years
94.71%
0%
94.71%
4 Years
68.11%
0%
68.11%
5 Years
295.99%
0%
295.99%
Novoray Corp. for the last several years.
Risk Adjusted Returns v/s 
News
No Recent News for the Company
Announcements 
No announcement available
Corporate Actions 
No corporate action available
Quality key factors 
Factor
Value
Sales Growth (5y)
18.73%
EBIT Growth (5y)
17.41%
EBIT to Interest (avg)
100.00
Debt to EBITDA (avg)
0
Net Debt to Equity (avg)
-0.20
Sales to Capital Employed (avg)
0.54
Tax Ratio
12.44%
Dividend Payout Ratio
28.42%
Pledged Shares
0
Institutional Holding
0
ROCE (avg)
18.05%
ROE (avg)
14.59%
Valuation key factors
Factor
Value
P/E Ratio
52
Industry P/E
Price to Book Value
9.11
EV to EBIT
49.81
EV to EBITDA
41.37
EV to Capital Employed
11.83
EV to Sales
13.37
PEG Ratio
NA
Dividend Yield
0.66%
ROCE (Latest)
23.76%
ROE (Latest)
17.48%
Technicals key factors
Indicator
Weekly
Monthly
MACD
Bullish
Bullish
RSI
No Signal
No Signal
Bollinger Bands
Bearish
Mildly Bullish
Moving Averages
Mildly Bullish (Daily)
KST
Bullish
Bullish
Dow Theory
Mildly Bearish
Bullish
OBV
No Trend
No Trend
Shareholding Snapshot
No data for shareholding present.
Shareholding Compare (%holding) 
No data for shareholding present.
Quarterly Results Snapshot (Consolidated) - Sep'25 - QoQ
Sep'25
Jun'25
Change(%)
Net Sales
304.60
280.60
8.55%
Operating Profit (PBDIT) excl Other Income
87.90
91.60
-4.04%
Interest
0.30
0.40
-25.00%
Exceptional Items
0.80
-1.10
172.73%
Consolidate Net Profit
81.40
75.60
7.67%
Operating Profit Margin (Excl OI)
288.60%
276.50%
1.21%
USD in Million.
Net Sales
QoQ Growth in quarter ended Sep 2025 is 8.55% vs 18.35% in Jun 2025
Consolidated Net Profit
QoQ Growth in quarter ended Sep 2025 is 7.67% vs 20.00% in Jun 2025
Annual Results Snapshot (Consolidated) - Dec'24
Dec'24
Dec'23
Change(%)
Net Sales
956.60
707.60
35.19%
Operating Profit (PBDIT) excl Other Income
309.00
217.10
42.33%
Interest
3.50
2.30
52.17%
Exceptional Items
-1.00
2.70
-137.04%
Consolidate Net Profit
251.40
174.00
44.48%
Operating Profit Margin (Excl OI)
266.50%
236.70%
2.98%
USD in Million.
Net Sales
YoY Growth in year ended Dec 2024 is 35.19% vs 7.60% in Dec 2023
Consolidated Net Profit
YoY Growth in year ended Dec 2024 is 44.48% vs -7.55% in Dec 2023
About Novoray Corp. 
Novoray Corp.
Specialty Chemicals
No Details Available.
Company Coordinates 
No Company Details Available






