Trading · Founded 2014 · www.mishkaexim.com · BSE 539220 · · ISIN INE540S01019
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Business
Mishka Exim Ltd. operates in the trading sector in India. As a trading company, its core business involves the purchase and sale of various goods, commodities, or products. The company primarily acts as an intermediary, sourcing goods from producers or suppliers and distributing them to buyers or consumers, either domestically or internationally (import/export). Its business model revolves around generating profit from the margin between its purchase price and sale price, often by leveraging market intelligence, logistics, and supply chain management. It makes money by efficiently matching supply with demand and managing inventory and associated risks.
Revenue Mix
Specific key segments or the exact revenue mix for Mishka Exim Ltd. are not publicly available. For a typical trading company, segments could be categorized by the types of products traded (e.g., agricultural commodities, industrial raw materials, finished goods, textiles), geographical markets served (domestic, specific export regions), or customer types (B2B, B2C). Without further information, it is not possible to detail the company's specific revenue contribution from different segments.
Industry
The trading industry in India is highly fragmented and competitive, characterized by diverse players ranging from small local traders to large diversified conglomerates. It is often a low-margin business that requires efficient logistics, strong supplier and customer relationships, and effective risk management. Mishka Exim's positioning within this landscape would depend on its specific product focus, geographical reach, operational scale, and efficiency. Its competitive standing relative to peers would be determined by its ability to secure favorable sourcing, maintain strong distribution networks, manage working capital effectively, and mitigate market volatility.
MOAT
Trading companies, particularly those dealing in commodities or undifferentiated products, generally find it challenging to build strong, durable competitive advantages (moats). Potential advantages for Mishka Exim Ltd., if present, could include:
Established Network & Relationships: Long-standing, trusted relationships with key suppliers and buyers.
Operational Efficiency: Superior logistics, warehousing, and supply chain management leading to cost advantages.
Market Intelligence: Expertise in specific product markets, allowing for timely buying and selling decisions.
Financial Strength: Ability to manage large working capital requirements and offer competitive credit terms.
Niche Specialization: Focusing on specific, harder-to-source or complex-to-trade products.
Without specific details, any such advantage would need to be rigorously proven.
Growth Drivers
Key factors that could drive growth for Mishka Exim Ltd. over the next 3-5 years include:
Economic Growth: Robust growth in the Indian economy and global markets increasing demand for traded goods.
Global Trade Expansion: Favorable international trade policies, opening up new export/import opportunities.
Diversification: Expanding into new, higher-margin product categories or geographical markets.
Supply Chain Optimization: Enhancing efficiency and resilience in sourcing and distribution.
Value-Added Services: Offering additional services like logistics, processing, or financing to clients.
Digital Transformation: Leveraging technology to improve market access, operational efficiency, and risk management.
Risks
Mishka Exim Ltd., operating in the trading sector, faces several inherent risks:
Commodity Price Volatility: Sudden and unpredictable fluctuations in the prices of goods traded can significantly impact margins and lead to inventory losses.
Currency Fluctuations: For import/export activities, adverse movements in exchange rates can erode profitability.
Supply Chain Disruptions: Geopolitical events, natural disasters, logistical bottlenecks, or trade disputes can disrupt supply routes and availability of goods.
Credit Risk: Risk of default by customers on payments or by suppliers on delivery terms.
Intense Competition: The fragmented nature of the trading industry can lead to pressure on margins.
Regulatory & Trade Policy Changes: Tariffs, import/export restrictions, and other government policies can significantly impact business operations.
Working Capital Management: Trading is capital-intensive, requiring significant investment in inventory and receivables, making efficient working capital management crucial.
Management & Ownership
For Indian companies, ownership is often concentrated with promoter families or founding shareholders. While specific details about Mishka Exim Ltd.'s promoters and management team are not provided, success in the trading industry typically demands strong expertise in market analysis, risk management, logistics, and financial acumen. The quality of management would be assessed by their track record in navigating market cycles, managing supply chains, and fostering strong business relationships.
Outlook
Mishka Exim Ltd. operates in a dynamic and capital-intensive sector that offers opportunities through economic growth and expanding global trade but is also subject to significant volatility and competitive pressures. The company's future performance will largely depend on its ability to effectively manage market risks (price, currency, credit), optimize its supply chain for efficiency and resilience, and strategically diversify its product portfolio or geographical reach. While robust economic activity can provide tailwinds, the inherent low-margin nature of much of the trading business, coupled with external factors like geopolitical tensions and trade policy shifts, necessitates agile and prudent management to ensure sustainable profitability and growth.
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 3 | 1 | 1 | 1 | 1 | 2 | 9 | 8 | 3 | 7 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 3 | 1 | 1 | 1 | 2 | 2 | 9 | 8 | 4 | 7 |
| Total Expenditure | 3 | 1 | 1 | 1 | 1 | 2 | 8 | 7 | 3 | 7 |
| Operating Profit | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Adjustments | -0 | -0 | 0 | -0 | -0 | -0 | -0 | -0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Adjusted Earnings Per Share | 0.2 | 0 | 0.1 | 0 | 0.1 | 0.1 | 0.3 | 0.4 | 0.5 | 0.1 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 15 | 23 | 9 | 8 | 4 | 3 | 18 | 14 | 4 | 5 | 27 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 15 | 23 | 9 | 8 | 4 | 3 | 18 | 14 | 4 | 5 | 28 |
| Total Expenditure | 15 | 23 | 9 | 8 | 4 | 3 | 19 | 14 | 4 | 4 | 25 |
| Operating Profit | -0 | 0 | 0 | 0 | -1 | 0 | -0 | -0 | 1 | 1 | 3 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | 0 | 0 | 0 | -1 | 0 | -0 | -1 | 0 | 0 | 3 |
| Provision for Tax | -0 | -0 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 |
| Profit After Tax | -0 | 0 | 0 | 0 | -1 | 0 | 0 | -0 | 0 | 0 | 2 |
| Adjustments | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | -0 | -0 | 0 |
| Profit After Adjustments | -0 | 0 | 0 | 0 | -1 | 0 | 0 | -0 | 0 | 0 | 2 |
| Adjusted Earnings Per Share | -0.3 | 0.1 | 0 | 0.1 | -0.5 | 0.2 | 0 | -0.3 | 0.2 | 0.2 | 1.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 25% | -35% | 5% | 0% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 17% | 10% | 4% | 5% |
| ROE Average | 2% | 0% | 0% | -0% |
| ROCE Average | 2% | 1% | 0% | -0% |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 14 | 16 | 21 | 21 | 20 | 20 | 22 | 21 | 22 | 22 |
| Minority's Interest | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | -0 | -0 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Total Current Liabilities | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Total Liabilities | 14 | 19 | 23 | 24 | 22 | 22 | 24 | 23 | 24 | 26 |
| Fixed Assets | 3 | 3 | 3 | 3 | 3 | 3 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 2 | 9 | 15 | 15 | 15 | 14 | 18 | 19 | 19 | 19 |
| Total Current Assets | 9 | 7 | 6 | 5 | 5 | 5 | 5 | 5 | 5 | 7 |
| Total Assets | 14 | 19 | 23 | 24 | 22 | 22 | 24 | 23 | 24 | 26 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 1 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 1 | 3 | 1 | 0 | -1 | -0 | -0 | 0 | 0 | -1 |
| Cash Flow from Investing Activities | -5 | -4 | 0 | -0 | 0 | 0 | 0 | -0 | 0 | 0 |
| Cash Flow from Financing Activities | 5 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | -0 | 0 |
| Net Cash Inflow / Outflow | 1 | -1 | 1 | -0 | -1 | -0 | -0 | 0 | -0 | -0 |
| Closing Cash & Cash Equivalent | 1 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -0.26 | 0.09 | 0.01 | 0.1 | -0.5 | 0.18 | 0.01 | -0.31 | 0.17 | 0.23 |
| CEPS(Rs) | -0.17 | 0.23 | 0.13 | 0.2 | -0.4 | 0.27 | 0.09 | -0.23 | 0.27 | 0.32 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 9.76 | 10.89 | 14.43 | 14.54 | 13.67 | 13.62 | 14.99 | 14.59 | 14.96 | 15.25 |
| Core EBITDA Margin(%) | -2.09 | 0.38 | 0.02 | 2.58 | -18.15 | 10.66 | -2.39 | -3.73 | 5.47 | 4.95 |
| EBIT Margin(%) | -2.72 | 0.27 | 0.64 | 1.76 | -20.33 | 8.57 | -2.37 | -4.02 | 10.48 | 10.31 |
| Pre Tax Margin(%) | -2.73 | 0.26 | 0.62 | 1.75 | -20.45 | 8.5 | -2.51 | -4.22 | 9.85 | 9.67 |
| PAT Margin (%) | -2.51 | 0.56 | 0.13 | 1.71 | -20.68 | 8.15 | 0.04 | -3.3 | 6.26 | 7.18 |
| Cash Profit Margin (%) | -1.7 | 1.4 | 2.07 | 3.6 | -16.55 | 12.43 | 0.75 | -2.38 | 9.73 | 9.76 |
| ROA(%) | -2.59 | 0.78 | 0.06 | 0.6 | -3.17 | 1.17 | 0.03 | -1.92 | 1.08 | 1.35 |
| ROE(%) | -2.62 | 0.87 | 0.06 | 0.67 | -3.57 | 1.31 | 0.04 | -2.11 | 1.19 | 1.54 |
| ROCE(%) | -2.84 | 0.42 | 0.31 | 0.69 | -3.51 | 1.38 | -2.06 | -2.53 | 1.98 | 2.19 |
| Receivable days | 0 | 24.68 | 0 | 9.72 | 0 | 0 | 11.46 | 14.44 | 84.32 | 89.7 |
| Inventory Days | 105.85 | 71.66 | 172.61 | 165.08 | 359.68 | 379.43 | 80.04 | 108.06 | 315.49 | 358.68 |
| Payable days | 2.37 | 12.02 | 30.72 | 0.14 | 0 | 0 | 0 | 0 | 0 | 121.28 |
| PER(x) | 0 | 367.07 | 3342.03 | 278.82 | 0 | 144.77 | 4583.33 | 0 | 195.98 | 109.33 |
| Price/Book(x) | 2.25 | 3.03 | 2.01 | 1.85 | 2.3 | 1.9 | 1.83 | 4.98 | 2.28 | 1.66 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 2.09 | 2.04 | 4.65 | 4.62 | 12.83 | 11.74 | 2.2 | 7.7 | 12.08 | 7.87 |
| EV/Core EBITDA(x) | -109.4 | 183.66 | 180.94 | 126.58 | -79.21 | 90.28 | -135.23 | -334.53 | 88.94 | 61.55 |
| Net Sales Growth(%) | 0 | 57.64 | -62.22 | -6.21 | -57.2 | -9.8 | 471.26 | -24.57 | -70.21 | 14.75 |
| EBIT Growth(%) | 0 | 115.58 | -10.33 | 157.91 | -595.45 | 138.01 | -258.03 | -27.89 | 177.71 | 12.91 |
| PAT Growth(%) | 0 | 135.2 | -90.98 | 1097.34 | -617.93 | 135.56 | -97.15 | -6230.18 | 156.48 | 31.67 |
| EPS Growth(%) | 0 | 135.21 | -90.36 | 1009.78 | -616.3 | 135.98 | -96.65 | -5271.67 | 156.07 | 32.99 |
| Debt/Equity(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.02 | 0 | 0.01 |
| Current Ratio(x) | 80.38 | 4.93 | 105.13 | 83.71 | 116.8 | 120.55 | 18.48 | 11.86 | 45.39 | 4.19 |
| Quick Ratio(x) | 40.42 | 1.57 | 40.89 | 22.65 | 48.17 | 39.41 | 3.62 | 2.25 | 15.34 | 0.65 |
| Interest Cover(x) | -211.05 | 37.93 | 40.16 | 431.62 | -166.47 | 131.96 | -17.39 | -20.25 | 16.58 | 16.16 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0.01 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 50.42 | 50.41 | 51.71 | 54.87 | 58.77 | 59.21 | 59.21 | 58.59 | 58.65 | 58.96 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 49.58 | 49.59 | 48.29 | 45.13 | 41.23 | 40.79 | 40.79 | 41.41 | 41.35 | 41.04 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.73 | 0.73 | 0.75 | 0.79 | 0.85 | 0.86 | 0.86 | 0.85 | 0.85 | 0.85 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.72 | 0.72 | 0.7 | 0.65 | 0.6 | 0.59 | 0.59 | 0.6 | 0.6 | 0.59 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.45 | 1.45 | 1.45 | 1.45 | 1.45 | 1.45 | 1.45 | 1.45 | 1.45 | 1.45 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +25% | -35% | +5% | — |
| Operating Profit CAGR | 0% | — | — | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | +17% | +10% | +4% | +5% |
| ROE Average | +2% | 0% | 0% | 0% |
| ROCE Average | +2% | +1% | 0% | 0% |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 50.42 | 50.41 | 51.71 | 54.87 | 58.77 | 59.21 | 59.21 | 58.59 | 58.65 | 58.96 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 49.58 | 49.59 | 48.29 | 45.13 | 41.23 | 40.79 | 40.79 | 41.41 | 41.35 | 41.04 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.73 | 0.73 | 0.75 | 0.79 | 0.85 | 0.86 | 0.86 | 0.85 | 0.85 | 0.85 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.72 | 0.72 | 0.7 | 0.65 | 0.6 | 0.59 | 0.59 | 0.6 | 0.6 | 0.59 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.45 | 1.45 | 1.45 | 1.45 | 1.45 | 1.45 | 1.45 | 1.45 | 1.45 | 1.45 |
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