Trading · Founded 1992 · www.photoquip.com · BSE 526588 · · ISIN INE813B01016
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Business
Photoquip (India) Ltd. operates in the Trading sector within India. As a trading company, its core business involves buying goods from manufacturers or primary distributors and selling them to a network of retailers, other businesses, or potentially directly to consumers. Given its name "Photoquip," it is highly probable the company specializes in trading photographic equipment, imaging products, and related accessories. The company primarily makes money through the margins earned on the goods it trades – the difference between its purchase price and its selling price, often supplemented by value-added services like distribution, warehousing, and logistics.
Revenue Mix
The primary revenue segment for Photoquip (India) Ltd. is "Trading Activities." Based on its name, it likely focuses on products within the photographic and imaging equipment categories. Without specific financial data, a detailed breakdown of revenue mix by product category, geography, or customer type is not available.
Industry
The trading industry in India is generally fragmented and highly competitive, characterized by diverse players ranging from small regional distributors to large national conglomerates. For niche products like photographic equipment, the market can involve specialized importers, distributors, and online retailers. Photoquip (India) Ltd. likely positions itself as a specialized distributor or trader within the photographic and imaging equipment segment. Its competitive standing relative to peers would depend on factors like its distribution network, product portfolio, pricing strategy, and relationships with key brands and customers, none of which are detailed in the provided information.
MOAT
Without specific company details, it's challenging to confirm a durable competitive advantage. Potential moats for a trading company could include:
Strong Supplier Relationships: Exclusive distribution rights for popular brands.
Extensive Distribution Network: A wide and efficient reach across India, especially in the niche market of photographic equipment.
Niche Expertise: Deep understanding of the photographic market, customer needs, and technical aspects of products.
Operational Efficiency: Superior logistics, warehousing, and inventory management leading to cost advantages.
However, these are potential advantages, and their existence and strength for Photoquip (India) Ltd. cannot be confirmed with the given information.
Growth Drivers
Growth in Indian Economy & Disposable Income: Rising incomes and consumer spending, especially among aspirational buyers, can drive demand for photographic equipment.
Expansion of Product Portfolio: Adding new brands, product lines (e.g., professional gear, drones, videography equipment), or complementary accessories.
Geographic Expansion: Extending reach into new regional markets within India.
Digitalization & E-commerce: Leveraging online channels for sales and distribution to reach a broader customer base.
Strategic Partnerships: Securing distribution rights for emerging or international photographic brands.
Increasing Tourism & Event Photography: Growth in these sectors can boost demand for related equipment.
Risks
Intense Competition & Margin Pressure: The trading sector is highly competitive, leading to potential price wars and pressure on gross margins.
Inventory Risk: Obsolescence due to rapid technological advancements in photographic equipment, damage, theft, or holding costs.
Supply Chain Disruptions: Reliance on manufacturers and logistics, making it vulnerable to global events, shipping delays, or geopolitical issues.
Economic Downturn: A slowdown in the Indian economy could reduce consumer and professional spending on non-essential items like photographic equipment.
Currency Fluctuations: If the company engages in imports, adverse movements in foreign exchange rates can impact input costs.
Credit Risk: Potential for defaults or delayed payments from customers, especially larger distributors or retailers.
Technological Shifts: The increasing capabilities of smartphone cameras could diminish demand for entry-level dedicated cameras.
Management & Ownership
As is common with many Indian companies, Photoquip (India) Ltd. is likely promoted and controlled by a founding family or a promoter group. The quality of management would typically be assessed by factors such as strategic vision, operational efficiency, financial performance, and corporate governance practices, none of which can be determined from the basic information provided. Ownership structure typically involves a significant stake held by the promoters, with the remaining shares held by public shareholders, institutional investors, or other entities.
Outlook
Photoquip (India) Ltd. operates in a sector that benefits from India's overall economic growth and increasing consumer aspirations. Its potential specialization in photographic equipment offers a niche focus, which can allow for deeper market penetration and expertise. However, the company faces inherent challenges common to trading businesses, including thin margins, intense competition, and inventory management risks, particularly given the rapid technological evolution in its likely product segment. Its future performance will depend significantly on its ability to maintain strong supplier relationships, efficiently manage its distribution network, adapt to market trends (e.g., e-commerce), and navigate economic fluctuations.
| #(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 | 6 | 4 | 5 | 4 | 5 | 3 | 3 | 4 | 5 | 2 |
| Other Income | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 6 | 4 | 5 | 4 | 5 | 3 | 4 | 4 | 5 | 2 |
| Total Expenditure | 5 | 4 | 4 | 4 | 4 | 2 | 3 | 4 | 5 | 3 |
| Operating Profit | 1 | 0 | 1 | 0 | 1 | 0 | 1 | 0 | -0 | -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 | 1 | -0 | 0 | 0 | -0 | 0 | -0 | -0 | -1 | -1 |
| Provision for Tax | 0 | 0 | 0 | 0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Profit After Tax | 1 | -0 | 0 | -0 | 0 | 0 | -0 | 0 | -1 | -1 |
| Adjustments | 0 | -0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 1 | -0 | 0 | -0 | 0 | 0 | -0 | 0 | -1 | -1 |
| Adjusted Earnings Per Share | 1.1 | -0.2 | 0.6 | -0 | 0.2 | 0.1 | -0 | 0 | -1.5 | -1.3 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 60 | 48 | 43 | 38 | 27 | 11 | 12 | 12 | 16 | 17 | 14 | 14 |
| Other Income | 2 | 0 | 1 | 0 | 1 | 2 | 0 | 0 | 0 | 1 | 1 | 0 |
| Total Income | 62 | 48 | 43 | 38 | 28 | 14 | 13 | 12 | 16 | 18 | 16 | 15 |
| Total Expenditure | 64 | 48 | 42 | 37 | 28 | 14 | 13 | 13 | 17 | 16 | 15 | 15 |
| Operating Profit | -1 | 0 | 2 | 2 | 0 | -0 | -0 | -1 | -0 | 2 | 1 | 1 |
| Interest | 2 | 2 | 2 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Depreciation | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Exceptional Income / Expenses | 1 | 0 | -0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -5 | -3 | -1 | -1 | -2 | -1 | -2 | -3 | -2 | 0 | -1 | -2 |
| Provision for Tax | -1 | -1 | -0 | 1 | 0 | 1 | 0 | 1 | 0 | 0 | -0 | 0 |
| Profit After Tax | -4 | -2 | -1 | -1 | -3 | -2 | -2 | -4 | -2 | 0 | -1 | -2 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -4 | -2 | -1 | -1 | -3 | -2 | -2 | -4 | -2 | 0 | -1 | -2 |
| Adjusted Earnings Per Share | -7.3 | -3.6 | -1.3 | -2.8 | -5.6 | -4.6 | -4.9 | -8.5 | -3.7 | 0.6 | -1.4 | -2.8 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -18% | 5% | 5% | -14% |
| Operating Profit CAGR | -50% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -27% | -18% | -4% | -5% |
| ROE Average | -11% | -12% | -20% | -15% |
| ROCE Average | 2% | 2% | -2% | -1% |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 23 | 21 | 20 | 19 | 16 | 14 | 12 | 7 | 8 | 8 | 7 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 2 | 0 | 5 | 5 | 4 | 5 | 5 | 5 | 6 | 5 | 11 |
| Other Non-Current Liabilities | -3 | -4 | -4 | -3 | -2 | -3 | -3 | -2 | -2 | -1 | -1 |
| Total Current Liabilities | 23 | 24 | 16 | 16 | 16 | 8 | 6 | 7 | 8 | 6 | 4 |
| Total Liabilities | 44 | 41 | 37 | 36 | 35 | 24 | 20 | 17 | 20 | 18 | 21 |
| Fixed Assets | 12 | 11 | 11 | 11 | 12 | 11 | 10 | 9 | 9 | 8 | 7 |
| Other Non-Current Assets | 13 | 15 | 15 | 14 | 10 | 5 | 3 | 2 | 1 | 2 | 7 |
| Total Current Assets | 19 | 15 | 11 | 11 | 12 | 8 | 6 | 6 | 10 | 8 | 7 |
| Total Assets | 44 | 41 | 37 | 36 | 35 | 24 | 20 | 17 | 20 | 18 | 21 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Cash Flow from Operating Activities | -3 | 3 | 2 | 3 | 2 | -1 | 2 | 1 | -0 | 1 | -4 |
| Cash Flow from Investing Activities | 4 | 0 | -1 | -0 | -1 | 1 | 1 | 0 | 0 | 1 | 1 |
| Cash Flow from Financing Activities | -2 | -4 | -1 | -2 | -1 | -1 | -3 | -1 | 0 | -1 | 3 |
| Net Cash Inflow / Outflow | -1 | -1 | 0 | 0 | -0 | -0 | -0 | 0 | -0 | -0 | -0 |
| Closing Cash & Cash Equivalent | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| # | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -7.34 | -3.63 | -1.33 | -2.8 | -5.65 | -4.57 | -4.88 | -8.55 | -3.72 | 0.57 | -1.4 |
| CEPS(Rs) | -3.36 | -2.18 | 0.18 | -1.29 | -3.68 | -2.87 | -3.44 | -7.14 | -2.74 | 1.9 | 0.02 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 47.6 | 43.38 | 42.02 | 39.21 | 33.6 | 29.03 | 24.15 | 15.6 | 12.81 | 13.12 | 11.83 |
| Core EBITDA Margin(%) | -5.72 | -0.69 | 2.16 | 3.21 | -2.45 | -24.96 | -2.92 | -14.94 | -3.15 | 7.59 | -0.73 |
| EBIT Margin(%) | -4.51 | -1.38 | 1.76 | 2.19 | -2.52 | 0.24 | -6.46 | -17.95 | -4.71 | 8.47 | 2.06 |
| Pre Tax Margin(%) | -7.72 | -5.23 | -2.42 | -1.54 | -8.17 | -12.3 | -16.52 | -27.33 | -10.62 | 2.9 | -6.66 |
| PAT Margin (%) | -5.84 | -3.57 | -1.46 | -3.48 | -9.9 | -19.06 | -18.56 | -34.64 | -13.65 | 1.98 | -5.82 |
| Cash Profit Margin (%) | -2.67 | -2.14 | 0.2 | -1.6 | -6.45 | -11.99 | -13.07 | -28.95 | -10.08 | 6.61 | 0.07 |
| ROA(%) | -7.36 | -4.07 | -1.63 | -3.68 | -7.69 | -7.46 | -10.61 | -22.25 | -12.22 | 1.82 | -4.31 |
| ROE(%) | -14.85 | -7.98 | -3.12 | -6.89 | -15.51 | -14.58 | -18.36 | -43 | -29.4 | 4.38 | -11.25 |
| ROCE(%) | -7.37 | -1.96 | 2.45 | 2.86 | -2.5 | 0.11 | -3.49 | -10.73 | -4.38 | 8.62 | 1.61 |
| Receivable days | 23.11 | 21.99 | 8.36 | 7.29 | 8.52 | 23.48 | 20.45 | 17.27 | 38.69 | 73.35 | 103.81 |
| Inventory Days | 52.69 | 63.05 | 78.2 | 85.64 | 123.51 | 244.9 | 160.75 | 145.24 | 108.22 | 88.86 | 61 |
| Payable days | 82.63 | 102.24 | 120.92 | 122.45 | 168.5 | 208.17 | 46.48 | 32.21 | 63.97 | 87.01 | 60 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 33.79 | 0 |
| Price/Book(x) | 0.42 | 0.56 | 0.38 | 0.61 | 0.29 | 0.24 | 0.65 | 1.09 | 1.64 | 1.46 | 1.17 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.36 | 0.49 | 0.42 | 0.55 | 0.5 | 1.19 | 1.38 | 1.54 | 1.31 | 1.14 | 1.46 |
| EV/Core EBITDA(x) | -16.21 | 943.57 | 11.33 | 13.28 | 54.32 | -32.27 | -140.46 | -12.36 | -113.82 | 8.69 | 18.32 |
| Net Sales Growth(%) | -40.34 | -21 | -10.15 | -11.37 | -27.84 | -58.56 | 9.37 | -6.48 | 39.26 | 6.04 | -15.6 |
| EBIT Growth(%) | -12.9 | 75.28 | 214.3 | 10.15 | -181.65 | 103.94 | -3098.9 | -160.64 | 63.79 | 289.19 | -79.53 |
| PAT Growth(%) | -18.89 | 50.53 | 63.34 | -110.31 | -101.75 | 19.14 | -6.92 | -75.1 | 45.64 | 115.29 | -347.1 |
| EPS Growth(%) | -18.9 | 50.53 | 63.34 | -110.3 | -101.75 | 19.14 | -6.92 | -75.1 | 56.51 | 115.29 | -347.07 |
| Debt/Equity(x) | 0.59 | 0.55 | 0.51 | 0.53 | 0.64 | 0.81 | 0.86 | 1.42 | 1.22 | 1.12 | 1.88 |
| Current Ratio(x) | 0.84 | 0.63 | 0.68 | 0.69 | 0.73 | 1.09 | 1.01 | 0.84 | 1.23 | 1.19 | 1.58 |
| Quick Ratio(x) | 0.52 | 0.23 | 0.12 | 0.12 | 0.15 | 0.32 | 0.2 | 0.2 | 0.53 | 0.74 | 1.14 |
| Interest Cover(x) | -1.4 | -0.36 | 0.42 | 0.59 | -0.45 | 0.02 | -0.64 | -1.91 | -0.8 | 1.52 | 0.24 |
| Total Debt/Mcap(x) | 1.4 | 0.98 | 1.32 | 0.87 | 2.25 | 3.31 | 1.31 | 1.3 | 0.75 | 0.77 | 1.6 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 47.07 | 47.07 | 47.07 | 47.07 | 47.07 | 46.75 | 46.75 | 46.76 | 46.8 | 46.86 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Public | 52.88 | 52.88 | 52.88 | 52.88 | 52.88 | 53.2 | 53.2 | 53.18 | 53.15 | 53.08 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -18% | +5% | +5% | -14% |
| Operating Profit CAGR | -50% | — | — | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | -27% | -18% | -4% | -5% |
| ROE Average | -11% | -12% | -20% | -15% |
| ROCE Average | +2% | +2% | -2% | -1% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 47.07 | 47.07 | 47.07 | 47.07 | 47.07 | 46.75 | 46.75 | 46.76 | 46.8 | 46.86 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Public | 52.88 | 52.88 | 52.88 | 52.88 | 52.88 | 53.2 | 53.2 | 53.18 | 53.15 | 53.08 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 |
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