Choksi Asia Ltd

CHOKSI

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Market Cap

₹ 73 Cr

P/E

21.82

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Performance

MARKET LEADER

Valuation

OVERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Choksi Imaging Ltd, originating as Selvas Photographics Ltd, was established in 1992 and is led by the third generation of the Choksi family. It specializes in manufacturing photosensitized materials for the photographic and medical industries.

Its primary products include x-ray films used extensively by radiologists and industrial radiographers. The company experienced a significant boost in turnover by 41.75% in 2000-01 due to the sale of photographic color paper.

In 1996, Choksi Imaging expanded its capacity for x-ray film production from 7.50 to 16.50 lakh square meters, marking a significant operational expansion.

By 2005, the company diversified its product offerings to include contrast media, and in 2007, it began trading x-ray accessories and processors.

Despite its evolution, Choksi Imaging has maintained its foundational roots in the photographic industry, continuing a legacy dating back to 1924.

Sector

FMCG

Industry

Photographic And Allied Products

Market Cap

73 Cr

Volatility

Low Risk

P/E Ratio

21.8

Industry P/E

21.8

PEG Ratio

0.2

P/B Ratio

2.2

52W High

140.00

52W Low

64.03

Sales CAGR

131.27%

146.66%

18.24%

10Y

-3.50%

Profit CAGR

123.02%

—

10Y

4.05%

ROE

TTM

8.55%

4.67%

4.61%

10Y

5.12%

ROCE

TTM

12.66%

7.17%

6.91%

10Y

7.12%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
RAFL	56.96	77 Cr	12.28	1.03	0.00	6.77	8.52	5.16
PHILCORP	30.00	77 Cr	600.00	5.90	0.00	0.90	0.91	20.62
AJOONI	4.36	76 Cr	19.30	0.85	0.00	4.44	5.64	3.82
CHOKSI	126.55	73 Cr	21.82	2.16	0.00	8.55	12.66	7.14
SAIFL	13.30	72 Cr	6.05	0.87	0.00	14.32	19.96	9.36
JFL	44.50	72 Cr	11.96	1.97	0.00	21.35	20.44	14.73
SIMRAN	186.90	70 Cr	—	1.68	0.00	-4.72	-0.52	-0.92

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	0.40	0.52	0.19	0.15	1.37	5.72	8.64	12	12	13
Expenses	0.77	1.15	0.63	0.56	1.09	5.34	8.96	11	11	12
Operating Profit	-0.37	-0.63	-0.44	-0.41	0.28	0.38	-0.32	1.24	1.39	1.60
OPM %	-92.50	-121.15	-231.58	-273.33	20.44	6.64	-3.70	10.21	11.68	12.04
Other Income	0.38	0.20	0.20	0.25	0.19	0.18	0.85	0.23	0.29	0.29
Interest	0.00	0.00	0.00	0.00	0.00	0.03	0.13	0.09	0.10	0.14
Depreciation	0.04	0.04	0.04	0.04	0.04	0.04	0.05	0.04	0.06	0.08
Profit Before Tax	-0.03	-0.47	-0.28	-0.20	0.43	0.48	0.36	1.34	1.52	1.67
Tax %	0.00	0.00	0.00	255.00	16.28	50.00	41.67	47.01	28.95	19.16
Net Profit	-0.03	-0.47	-0.27	0.31	0.36	0.24	0.21	0.71	1.07	1.35
EPS in Rs	-0.05	-0.87	-0.48	0.55	0.63	0.42	0.25	0.85	1.29	2.36

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	30	24	17	16	11	2.46	0.77	1.27	37	38
Expenses	26	22	18	17	13	3.92	2.21	3.12	33	36
Operating Profit	4.17	1.82	-0.42	-1.42	-1.69	-1.46	-1.44	-1.85	3.80	2.69
OPM %	13.69	7.72	-2.43	-8.86	-15.11	-59.23	-187.30	-145.86	10.29	7.00
Other Income	0.43	0.74	1.64	1.06	4.58	1.14	1.16	1.04	1.58	1.55
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.48	0.35
Depreciation	0.39	0.22	0.21	0.17	0.19	0.17	0.16	0.16	0.18	0.19
Profit Before Tax	0.99	1.83	1.01	-0.53	2.71	-0.48	-0.44	-0.97	4.73	3.70
Tax %	22.59	29.80	14.88	-4.55	29.48	12.06	-6.98	53.14	34.44	39.73
Net Profit	0.77	1.29	0.86	-0.56	1.91	-0.42	-0.48	-0.46	3.10	2.23
EPS in Rs	1.35	2.26	1.49	-0.98	3.37	-0.79	-0.83	-0.85	2.15	4.74
Dividend Payout %	38.07	22.73	22.83	0.00	51.12	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	3.90	3.90	3.90	3.90	3.90	3.90	3.90	3.90	3.90	5.70
Reserves	10	11	12	12	12	14	12	12	11	26
Borrowings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	10
Other Liabilities	22	21	21	21	20	3.79	2.42	2.53	1.91	5.53
Total Liabilities	36	36	37	37	36	21	18	18	17	47
Fixed Assets	8.50	8.03	7.81	7.51	7.34	6.12	5.95	5.79	5.63	16
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	3.87	7.49	5.36	2.93	6.87	0.78	3.35	0.00	0.00	0.00
Other Assets	24	20	24	27	21	14	9.11	12	11	32
Total Assets	36	36	37	37	36	21	18	18	17	47

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	7.93	1.65	5.49	2.42	-2.52	-2.82	-0.56	-2.52	0.70	-2.87
Cash from Investing Activity	-0.17	-0.01	-0.00	0.58	-0.01	1.96	-2.49	3.35	-0.00	0.63
Cash from Financing Activity	-6.90	0.00	-0.35	-0.35	-0.24	0.00	-0.98	0.00	0.00	-1.20
Net Cash Flow	0.86	1.65	5.14	2.64	-2.77	-0.85	-4.02	0.83	0.69	-3.43

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	63.44%	63.44%	63.44%	63.44%	63.44%	63.44%	63.44%	62.23%	62.23%	62.23%	62.23%	71.15%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	36.56%	36.56%	36.56%	36.56%	36.56%	36.56%	36.56%	37.77%	37.77%	37.77%	37.77%	28.85%
Total Shareholders	3,226	3,183	3,033	3,029	3,055	3,100	3,001	2,976	3,277	3,189	3,132	3,087

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jun 04, 2025	Kruti choksi	Insider - Promoter Group	Acquisition	—	—	2,751	—
Jun 04, 2025	Priyam choksi	Insider - Promoter Group	Acquisition	—	—	2,751	—
Jun 04, 2025	Jay choksi	Insider - Promoter Group	Acquisition	—	—	2,751	—
Jun 04, 2025	Samir choksi	Insider - Promoter	Acquisition	—	—	13,68,623	35.0
Jun 04, 2025	Bindu choksi	Insider - Promoter Group	Acquisition	—	—	13,69,998	—
Jun 04, 2025	Choksi asia private limited	Insider - Promoter Group	Disposal	—	—	9,49,896	24.36
Jun 04, 2025	Samir k choksi huf	Insider - Promoter Group	Acquisition	—	—	1,375	—
Jun 04, 2025	Raj choksi	Insider - Promoter Group	Acquisition	—	—	2,751	—
Jun 04, 2025	Valia brothers pvt ltd	Bulk	Sell	116.00	0.24 Cr	20,763	0.53
Feb 28, 2025	Sudhanshu kanda	Bulk	Buy	72.03	0.14 Cr	19,600	0.50

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Oscillators

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Neutral

Bearish

Neutral

Bullish

Overall

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Neutral

Bullish

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Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	0.40	0.52	0.19	0.15	1.37	5.72	8.64	12	12	13
Expenses	0.77	1.15	0.63	0.56	1.09	5.34	8.96	11	11	12
Operating Profit	-0.37	-0.63	-0.44	-0.41	0.28	0.38	-0.32	1.24	1.39	1.60
OPM %	-92.50	-121.15	-231.58	-273.33	20.44	6.64	-3.70	10.21	11.68	12.04
Other Income	0.38	0.20	0.20	0.25	0.19	0.18	0.85	0.23	0.29	0.29
Interest	0.00	0.00	0.00	0.00	0.00	0.03	0.13	0.09	0.10	0.14
Depreciation	0.04	0.04	0.04	0.04	0.04	0.04	0.05	0.04	0.06	0.08
Profit Before Tax	-0.03	-0.47	-0.28	-0.20	0.43	0.48	0.36	1.34	1.52	1.67
Tax %	0.00	0.00	0.00	255.00	16.28	50.00	41.67	47.01	28.95	19.16
Net Profit	-0.03	-0.47	-0.27	0.31	0.36	0.24	0.21	0.71	1.07	1.35
EPS in Rs	-0.05	-0.87	-0.48	0.55	0.63	0.42	0.25	0.85	1.29	2.36

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	30	24	17	16	11	2.46	0.77	1.27	37	38
Expenses	26	22	18	17	13	3.92	2.21	3.12	33	36
Operating Profit	4.17	1.82	-0.42	-1.42	-1.69	-1.46	-1.44	-1.85	3.80	2.69
OPM %	13.69	7.72	-2.43	-8.86	-15.11	-59.23	-187.30	-145.86	10.29	7.00
Other Income	0.43	0.74	1.64	1.06	4.58	1.14	1.16	1.04	1.58	1.55
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.48	0.35
Depreciation	0.39	0.22	0.21	0.17	0.19	0.17	0.16	0.16	0.18	0.19
Profit Before Tax	0.99	1.83	1.01	-0.53	2.71	-0.48	-0.44	-0.97	4.73	3.70
Tax %	22.59	29.80	14.88	-4.55	29.48	12.06	-6.98	53.14	34.44	39.73
Net Profit	0.77	1.29	0.86	-0.56	1.91	-0.42	-0.48	-0.46	3.10	2.23
EPS in Rs	1.35	2.26	1.49	-0.98	3.37	-0.79	-0.83	-0.85	2.15	4.74
Dividend Payout %	38.07	22.73	22.83	0.00	51.12	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	3.90	3.90	3.90	3.90	3.90	3.90	3.90	3.90	3.90	5.70
Reserves	10	11	12	12	12	14	12	12	11	26
Borrowings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	10
Other Liabilities	22	21	21	21	20	3.79	2.42	2.53	1.91	5.53
Total Liabilities	36	36	37	37	36	21	18	18	17	47
Fixed Assets	8.50	8.03	7.81	7.51	7.34	6.12	5.95	5.79	5.63	16
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	3.87	7.49	5.36	2.93	6.87	0.78	3.35	0.00	0.00	0.00
Other Assets	24	20	24	27	21	14	9.11	12	11	32
Total Assets	36	36	37	37	36	21	18	18	17	47

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	7.93	1.65	5.49	2.42	-2.52	-2.82	-0.56	-2.52	0.70	-2.87
Cash from Investing Activity	-0.17	-0.01	-0.00	0.58	-0.01	1.96	-2.49	3.35	-0.00	0.63
Cash from Financing Activity	-6.90	0.00	-0.35	-0.35	-0.24	0.00	-0.98	0.00	0.00	-1.20
Net Cash Flow	0.86	1.65	5.14	2.64	-2.77	-0.85	-4.02	0.83	0.69	-3.43

Overview

Detailed Summary

In 1996, Choksi Imaging expanded its capacity for x-ray film production from 7.50 to 16.50 lakh square meters, marking a significant operational expansion.

By 2005, the company diversified its product offerings to include contrast media, and in 2007, it began trading x-ray accessories and processors.

Despite its evolution, Choksi Imaging has maintained its foundational roots in the photographic industry, continuing a legacy dating back to 1924.

Sector

FMCG

Industry

Photographic And Allied Products

Market Cap

73 Cr

Volatility

Low Risk

P/E Ratio

21.8

Industry P/E

21.8

PEG Ratio

0.2

P/B Ratio

2.2

52W High

140.00

52W Low

64.03

Sales CAGR

131.27%

146.66%

18.24%

10Y

-3.50%

Profit CAGR

123.02%

—

10Y

4.05%

ROE

TTM

8.55%

4.67%

4.61%

10Y

5.12%

ROCE

TTM

12.66%

7.17%

6.91%

10Y

7.12%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
RAFL	56.96	77 Cr	12.28	1.03	0.00	6.77	8.52	5.16
PHILCORP	30.00	77 Cr	600.00	5.90	0.00	0.90	0.91	20.62
AJOONI	4.36	76 Cr	19.30	0.85	0.00	4.44	5.64	3.82
CHOKSI	126.55	73 Cr	21.82	2.16	0.00	8.55	12.66	7.14
SAIFL	13.30	72 Cr	6.05	0.87	0.00	14.32	19.96	9.36
JFL	44.50	72 Cr	11.96	1.97	0.00	21.35	20.44	14.73
SIMRAN	186.90	70 Cr	—	1.68	0.00	-4.72	-0.52	-0.92

Choksi Asia Ltd

Choksi Asia Ltd

CHOKSI

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Standalone Quarterly Results (in ₹ Crores)

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Standalone Quarterly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

Choksi Asia Ltd

CHOKSI

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