Equilateral Enterprises Ltd

SURINDL

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Market Cap

₹ 33 Cr

P/E

60.89

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Investment Checklist

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Performance

MARKET LEADER

Valuation

OVERVALUED

Growth

EXCEPTIONAL

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Equilateral Enterprises Limited, formerly Surya Industrial Corporation, primarily engages in the trading of gems and jewelry, with a focus on diamonds and colored stones.

The company, incorporated in 1988, underwent a name change in 2019 to align with its current business scope.

Its main revenue stream currently arises from diamond trading, signaling strong specialization in this area.

Equilateral Enterprises aims to capture a significant market share in the diamond manufacturing and jewelry marketing sectors.

The company anticipates reasonable growth this year, leveraging its established presence in the diamonds sector.

Sector

Diamond, Gems and Jewellery

Industry

Diamond Cutting / Jewellery - Medium / Small

Market Cap

33 Cr

Volatility

Moderate Risk

P/E Ratio

60.9

Industry P/E

22.8

PEG Ratio

0.3

P/B Ratio

2.9

52W High

36.50

52W Low

20.10

Sales CAGR

32.37%

32.67%

56.82%

10Y

-9.98%

Profit CAGR

800.00%

185.86%

114.82%

10Y

-5.33%

ROE

TTM

4.77%

0.69%

0.43%

10Y

0.69%

ROCE

TTM

4.56%

0.66%

0.42%

10Y

0.71%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
UHZAVERI	13.00	42 Cr	650.00	1.05	0.00	0.30	0.26	0.21
EIGHTY	36.25	37 Cr	19.92	1.36	0.00	12.49	12.30	5.85
KANANIIND	1.72	35 Cr	16.27	0.53	0.00	3.15	3.37	2.21
SURINDL	26.25	33 Cr	60.89	2.90	0.00	4.77	4.56	2.23
DARSHANORNA	3.04	30 Cr	50.50	0.86	0.00	2.95	3.29	2.31
KENVI	2.60	30 Cr	23.70	1.90	0.00	8.30	11.06	5.02
GOENKA	0.84	27 Cr	—	0.11	0.00	-0.70	-0.26	-0.21

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Mar 2012	Dec 2012	Mar 2013
Sales	0.01	0.00	0.00
Expenses	0.06	0.04	0.01
Operating Profit	-0.05	-0.04	-0.01
OPM %	-500.00	—	—
Other Income	-0.08	0.14	3.46
Interest	0.00	0.00	0.34
Depreciation	0.06	0.05	0.04
Profit Before Tax	-0.19	0.05	3.07
Tax %	0.00	0.00	0.00
Net Profit	-0.19	0.05	3.07
EPS in Rs	—	—	—

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	95	19	0.96	1.60	0.33	6.48	2.88	11	15	30
Expenses	96	20	1.64	1.79	0.33	6.47	2.86	13	16	31
Operating Profit	-0.92	-1.01	-0.68	-0.20	-0.00	0.01	0.02	-1.21	-1.09	-0.76
OPM %	-0.97	-5.35	-70.93	-12.51	-0.42	0.12	0.59	-10.54	-7.20	-2.52
Other Income	1.13	1.03	0.69	0.20	0.01	0.00	0.00	1.23	1.27	1.17
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	0.21	0.03	0.00	0.00	0.00	0.01	0.02	0.02	0.18	0.42
Tax %	16.83	0.00	0.00	19.37	0.00	0.00	0.00	0.00	0.05	0.00
Net Profit	0.18	0.03	0.00	0.00	0.00	0.01	0.02	0.02	0.18	0.42
EPS in Rs	-0.12	-38.01	0.04	-0.01	0.04	0.01	0.02	0.02	0.15	0.44
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	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	12	12	12	12	12	12	12	12	12	12
Reserves	-1.72	-1.54	-1.51	-1.51	-1.50	-1.50	-1.49	-1.47	-1.45	-1.27
Borrowings	0.34	0.34	0.34	0.40	0.40	0.34	0.00	0.00	0.00	0.83
Other Liabilities	11	17	7.74	6.27	4.70	3.60	11	7.67	12	8.90
Total Liabilities	22	28	19	17	16	15	22	19	23	21
Fixed Assets	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05
Other Assets	22	28	19	17	16	15	22	18	23	21
Total Assets	22	28	19	17	16	15	22	19	23	21

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	-0.58	-3.07	0.72	0.17	-0.09	-1.09	-14	6.35	0.04	6.69
Cash from Investing Activity	0.60	1.04	1.04	0.00	0.00	1.01	0.00	0.00	0.00	-6.65
Cash from Financing Activity	0.00	2.18	-2.16	0.00	0.00	0.00	14	-6.35	0.00	0.15
Net Cash Flow	0.02	0.15	-0.40	0.17	-0.09	-0.07	0.05	-0.00	0.04	0.19

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	8.04%	8.04%	8.04%	8.04%	8.04%	8.04%	8.04%	8.04%	8.04%	8.04%	8.04%	8.04%
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	91.96%	91.96%	91.96%	91.96%	91.96%	91.96%	91.96%	91.96%	91.96%	91.96%	91.96%	91.96%
Total Shareholders	606	606	606	606	605	605	605	605	604	652	694	737

Projection

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Announcements

Last 7 days

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Presentations

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Reports

Presentations

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Mar 2012	Dec 2012	Mar 2013
Sales	0.01	0.00	0.00
Expenses	0.06	0.04	0.01
Operating Profit	-0.05	-0.04	-0.01
OPM %	-500.00	—	—
Other Income	-0.08	0.14	3.46
Interest	0.00	0.00	0.34
Depreciation	0.06	0.05	0.04
Profit Before Tax	-0.19	0.05	3.07
Tax %	0.00	0.00	0.00
Net Profit	-0.19	0.05	3.07
EPS in Rs	—	—	—

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	95	19	0.96	1.60	0.33	6.48	2.88	11	15	30
Expenses	96	20	1.64	1.79	0.33	6.47	2.86	13	16	31
Operating Profit	-0.92	-1.01	-0.68	-0.20	-0.00	0.01	0.02	-1.21	-1.09	-0.76
OPM %	-0.97	-5.35	-70.93	-12.51	-0.42	0.12	0.59	-10.54	-7.20	-2.52
Other Income	1.13	1.03	0.69	0.20	0.01	0.00	0.00	1.23	1.27	1.17
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	0.21	0.03	0.00	0.00	0.00	0.01	0.02	0.02	0.18	0.42
Tax %	16.83	0.00	0.00	19.37	0.00	0.00	0.00	0.00	0.05	0.00
Net Profit	0.18	0.03	0.00	0.00	0.00	0.01	0.02	0.02	0.18	0.42
EPS in Rs	-0.12	-38.01	0.04	-0.01	0.04	0.01	0.02	0.02	0.15	0.44
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	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	12	12	12	12	12	12	12	12	12	12
Reserves	-1.72	-1.54	-1.51	-1.51	-1.50	-1.50	-1.49	-1.47	-1.45	-1.27
Borrowings	0.34	0.34	0.34	0.40	0.40	0.34	0.00	0.00	0.00	0.83
Other Liabilities	11	17	7.74	6.27	4.70	3.60	11	7.67	12	8.90
Total Liabilities	22	28	19	17	16	15	22	19	23	21
Fixed Assets	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05
Other Assets	22	28	19	17	16	15	22	18	23	21
Total Assets	22	28	19	17	16	15	22	19	23	21

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	-0.58	-3.07	0.72	0.17	-0.09	-1.09	-14	6.35	0.04	6.69
Cash from Investing Activity	0.60	1.04	1.04	0.00	0.00	1.01	0.00	0.00	0.00	-6.65
Cash from Financing Activity	0.00	2.18	-2.16	0.00	0.00	0.00	14	-6.35	0.00	0.15
Net Cash Flow	0.02	0.15	-0.40	0.17	-0.09	-0.07	0.05	-0.00	0.04	0.19

The company anticipates reasonable growth this year, leveraging its established presence in the diamonds sector.

Sector

Diamond, Gems and Jewellery

Industry

Diamond Cutting / Jewellery - Medium / Small

Market Cap

33 Cr

Volatility

Moderate Risk

P/E Ratio

60.9

Industry P/E

22.8

PEG Ratio

0.3

P/B Ratio

2.9

52W High

36.50

52W Low

20.10

Sales CAGR

32.37%

32.67%

56.82%

10Y

-9.98%

Profit CAGR

800.00%

185.86%

114.82%

10Y

-5.33%

ROE

TTM

4.77%

0.69%

0.43%

10Y

0.69%

ROCE

TTM

4.56%

0.66%

0.42%

10Y

0.71%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
UHZAVERI	13.00	42 Cr	650.00	1.05	0.00	0.30	0.26	0.21
EIGHTY	36.25	37 Cr	19.92	1.36	0.00	12.49	12.30	5.85
KANANIIND	1.72	35 Cr	16.27	0.53	0.00	3.15	3.37	2.21
SURINDL	26.25	33 Cr	60.89	2.90	0.00	4.77	4.56	2.23
DARSHANORNA	3.04	30 Cr	50.50	0.86	0.00	2.95	3.29	2.31
KENVI	2.60	30 Cr	23.70	1.90	0.00	8.30	11.06	5.02
GOENKA	0.84	27 Cr	—	0.11	0.00	-0.70	-0.26	-0.21