Key risks
- OPM compressed to 2.9% in Mar 2026 from 3.98% in Sep 2025; margin stability unclear given trading spreads are thin
- Revenue swung 484–729 Cr over five quarters; commodity and customer cycles can compound, straining working capital
- FII holding 0%; verify institutional participation and founder concentration
- D/E 0.58 moderate but typical for trading; verify short-term debt and inventory-warehouse credit lines
Generated analysis · source review pending