Rexpro EnterprisesShare price, financial results, shareholding and management
- Market cap
- ₹32 cr
- Stock P/E
- 14.4peers 16.1
- Book value
- ₹57.1
- Price to book
- 0.49
- EV / operating profit
- 9.8
- Market cap to sales
- 0.43
- ROCE · FY26
- 5.3%
- ROE · FY26
- 3.5%
- ROE, 3-year average
- 33.6%
- Operating margin · FY26
- 3.2%peers 12.1%
- Sales growth, 3 years
- 5.4%
- Profit growth, 3 years
- 50.9%
- Debt to equity
- 0.25peers 0.31
- Borrowings
- ₹16 cr
- Interest cover
- 4.3×
- Cash from business / op. profit
- -167%
- Debtor days
- 106
- Pledged
- 0.00%
- Promoter holding
- 66.98%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 1,966
- 52-week high / low
- ₹79 / ₹28
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Rexpro Enterprises share price chart
Close on 6 Nov 2026 · +0.71% on the day · Vol 10,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -15.9%
- 3 months
- -25.9%
- 6 months
- -34.3%
- 1 year
- -64.5%
- Since IPO
- -80.5%
- Traded a day, 20 days
- ₹0.02 cr
- Taken for delivery
- 76%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | -31% | -73% |
| 3 years, a year | +5% | +51% |
| Latest half, H2 FY26 | -50% | -92% |
About Rexpro Enterprises: business, products and customers
Rexpro Enterprises makes made to order shop fittings, display units and kiosks for retailers and brands, along with office and school furniture, warehouse racks and noise barriers, at its plants in Vasai near Mumbai. Its shares trade on NSE Emerge.
Rexpro Enterprises builds the racks, counters, display stands and complete store interiors that retailers and brands such as Shoppers Stop, Samsung, Hindustan Unilever, Lenskart and Marks and Spencer use in their shops, and installs them across India with its own teams. It works in wood, metal and acrylic at three plants in and around Vasai, and has added furniture for offices, hospitals and schools, noise barriers for Mumbai flyovers, platform screen doors for metro stations and, through its subsidiary Progulf Warehousing Solutions, racking for warehouses.
Every job is a bespoke order priced after a prototype is approved, with no brand of its own, so sales follow how many stores customers open or refit and how many large one off orders come in. That makes the top line lumpy: an institutional furniture order lifted sales sharply in the first half of FY25, and the chairman says FY26 saw the ebb that follows such an order driven peak. Freight is billed on to customers through Accurate Logistics, a firm controlled by one of its managers, at a markup of 7% to 8%.
Read more about the business
The offer document compares it with Naman In-Store (India) and Parin Enterprises, which also make retail fixtures and displays. In FY26 it raised its stake in Progulf to 90% and set up a new subsidiary, Rex Lusso, in which it holds 75%.
From the prospectus (January 2025) and the FY26 annual report.
Read the deeper study ↓In its favour
- It has little debt for its size: debt to equity 0.25.
- The promoters own a large part of the company: 66.98%.
To watch
- Use of the ₹14.9 cr of IPO money still set aside for equipment and factory renovation at March 2026.
- Whether the ₹3.5 cr kept for acquisitions is used, and what Rex Lusso, the subsidiary set up in November 2025, goes on to do.
- Whether retail and institutional orders return, which the chairman says is a priority after FY26.
- Its borrowings rose a lot last year: ₹16 cr, from ₹5 cr.
- It paid no dividend in the past year.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Rexpro Enterprises revenue and profit growth
Half-yearly results · Profit and lossSales have grown slowly. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months. In the latest half, sales were lower than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Rexpro Enterprises half-yearly results
SME companies report every six months · ₹ crore
| H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|
| Sales | 43.58 | 49.55 | 57.04 | 45.12 | 28.57 |
| Expenses | 38.84 | 43.28 | 51.17 | 43.35 | 27.99 |
| Operating profit | 4.74 | 6.27 | 5.86 | 1.77 | 0.58 |
| OPM | 10.9% | 12.7% | 10.3% | 3.9% | 2.0% |
| Interest | 0.23 | 0.30 | 0.57 | 0.38 | 0.53 |
| Depreciation | 0.38 | 0.45 | 0.48 | 0.41 | 0.97 |
| Profit before tax | 4.15 | 5.53 | 5.46 | 2.39 | 0.59 |
| Net profit | 2.47 | 3.86 | 4.15 | 1.86 | 0.34 |
Rexpro Enterprises profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 14.30 | 35.65 | 62.88 | 82.92 | 106.59 | 73.69 |
| Expenses | 13.51 | 34.29 | 61.24 | 74.85 | 94.46 | 71.34 |
| Operating profit | 0.79 | 1.36 | 1.64 | 8.07 | 12.13 | 2.35 |
| OPM | 5.5% | 3.8% | 2.6% | 9.7% | 11.4% | 3.2% |
| Other income | 0 | 0.05 | 0.01 | 0.02 | 0.66 | 2.92 |
| Interest | 0.13 | 0.28 | 0.28 | 0.40 | 0.88 | 0.91 |
| Depreciation | 0.17 | 0.34 | 0.52 | 0.76 | 0.93 | 1.37 |
| Profit before tax | 0.49 | 0.79 | 0.85 | 6.93 | 10.99 | 2.98 |
| Tax rate | 12.2% | 27.8% | 24.7% | 25.1% | 27.1% | 26.2% |
| Net profit | 0.42 | 0.57 | 0.64 | 5.19 | 8.01 | 2.20 |
| EPS ₹ | 16.36 | 22.20 | 24.93 | 176.47 | 9.43 | 2.59 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Earnings per share before FY25 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Rexpro Enterprises profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a low return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Operating margin | 5.5% | 3.8% | 2.6% | 9.7% | 11.4% | 3.2% |
| Tax rate | 12.2% | 27.8% | 24.7% | 25.1% | 27.1% | 26.2% |
| ROCE | · | 15.7% | 13.9% | 61.2% | 29.0% | 5.3% |
| ROE | · | 14.7% | 14.5% | 74.6% | 22.6% | 3.5% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Rexpro Enterprises debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. It borrowed much more last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Rexpro Enterprises balance sheet
At each 31 March · ₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 0.26 | 0.26 | 0.26 | 0.26 | 11.21 | 11.21 |
| Reserves | 3.34 | 3.90 | 4.43 | 8.96 | 50.59 | 52.79 |
| Net worth | 3.60 | 4.16 | 4.69 | 9.22 | 61.80 | 64 |
| Borrowings | 2.56 | 3.29 | 4.10 | 5.95 | 4.99 | 16.02 |
| Other liabilities | 4.16 | 8.52 | 19.09 | 24.79 | 35.45 | 18.19 |
| Total liabilities | 10.32 | 15.97 | 27.88 | 39.96 | 102.24 | 98.21 |
| Fixed assets | 1.65 | 1.61 | 3.14 | 4.07 | 3.70 | 13.18 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0.07 | 0.07 | 0.08 | 0.08 | 0.10 |
| Other assets | 8.67 | 14.29 | 24.67 | 35.81 | 98.46 | 84.93 |
| Receivables | · | · | · | · | 36.94 | 21.44 |
| Inventory | · | · | · | · | 17.15 | 15.39 |
| Cash | · | · | · | · | 35.99 | 24.62 |
| Trade payables | · | · | · | · | 29.48 | 12.54 |
Rexpro Enterprises cash flow
₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | -0.46 | 0.06 | 2.04 | 0.99 | -4.54 | -3.93 |
| Cash from investing | -1.82 | -0.38 | -2.19 | -2.51 | -3.36 | -17.57 |
| Cash from financing | 2.70 | -0.05 | 1.28 | 1.45 | 42.76 | 10.11 |
| Net cash flow | 0.42 | -0.37 | 1.13 | -0.07 | 34.86 | -11.39 |
| Capital spending | · | · | · | · | 0.56 | 8.69 |
Working capital
Days
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 132 | 93 | 87 | 91 | 126 | 106 |
| Inventory days | 97 | 49 | 57 | 87 | 101 | 128 |
| Days payable | 107 | 51 | 142 | 160 | 174 | 104 |
| Cash conversion cycle | 122 | 91 | 2 | 17 | 54 | 130 |
| Working capital days | 44 | 20 | 1 | 23 | 67 | 58 |
Rexpro Enterprises peers and competitors
Listed SME companies in the same industryBy sales, Rexpro Enterprises is number 50 of the 79 listed SME companies in consumer durables.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Omfurn India | 64 | 10.1 | 86.4 | 6.3 | 14.5% | 0.16 |
| Retaggio Industries | 103 | 11.5 | 84 | 9 | 14.3% | 0.30 |
| Interiors & More | 186 | 13.7 | 83.6 | 13.5 | 25.4% | 0.70 |
| Kenrik Industries | 13 | - | 80.2 | 0 | 0.1% | 0.01 |
| Striders Impex | 93 | 16.6 | 75.2 | 5.6 | 12.6% | 0.39 |
| Rexpro Enterprises | 32 | 14.4 | 73.7 | 2.2 | 3.2% | 0.25 |
| Nanta Tech | 161 | 19.6 | 70.1 | 8.2 | 16.6% | 0.09 |
| Marvel Decor | 92 | 21.2 | 68.5 | 4.3 | 7.0% | 0.32 |
| Shubhlaxmi Jewel Art | 17 | 16.1 | 62.7 | 1.1 | 4.2% | 0.57 |
| Luxury Time | 61 | 11.1 | 60 | 5.5 | 11.7% | 0.05 |
| Veerkrupa Jewellers | 6 | 35.5 | 59.4 | 0.2 | 0.2% | 0.58 |
| Median of the 10 others | 78 | 16.1 | 72.7 | 5.6 | 12.1% | 0.31 |
Rexpro Enterprises shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders has come down.
Rexpro Enterprises shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Jan 25 | Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|
| Promoters | 66.98% | 66.98% | 66.98% | 66.98% |
| Foreign investors (FIIs) | 0.00% | 5.43% | 5.77% | 4.33% |
| Indian institutions (DIIs) | 1.66% | 0.06% | 0.02% | 2.03% |
| HNIs (over ₹2 lakh each) | 0.35% | 1.28% | 2.82% | 3.43% |
| Small holders (up to ₹2 lakh) | 29.00% | 22.87% | 21.50% | 20.85% |
| Companies and others | 2.01% | 3.38% | 2.91% | 2.38% |
| Number of shareholders | 3,402 | 2,465 | 2,191 | 1,966 |
The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.
Rexpro Enterprises study: the business from its own documents
Read from 3 of the company's own documentsRexpro Enterprises so far
From the company's own record
- March 2012Company formed
- 29 Jan 2025Listed on NSE Emerge at ₹145
- 31 March 2026Promoters at 66.98%
- 29 Jan 2025Highest close since listing, ₹96.80
Rexpro Enterprises key facts from the filings
Each figure with the document it comes from
- Retail share of sales
- 63.78%
- Share of FY24 sales from store furniture and fixtures, with kiosks and point of sale displays a further 14.50%.Prospectus, p.129
- Institutional furniture
- 30.71%
- Share of sales in the six months to September 2024, up from 6.11% in FY24, as one large order came through.Prospectus, p.129
- Top ten customers
- 73.86%
- Share of sales in the six months to September 2024; the top three gave 36.61%.Prospectus, p.130
- Maharashtra
- 71.73%
- Share of sales billed in Maharashtra in the six months to September 2024, against 54.82% in FY24.Prospectus, p.129
- Plant use
- 86% and 81%
- Use of the metal and wood units in the six months to September 2024; the warehouse racking unit ran at 30%.Prospectus, p.167
Show 5 more facts
- FY26 results
- ₹2.2 cr profit
- Consolidated profit against ₹8.0 cr in FY25, as total income fell to ₹76.6 cr from ₹107.2 cr.Annual report FY26, p.18
- IPO money unspent
- ₹18.4 cr
- Of the ₹47.1 cr fresh issue, at March 2026; ₹14.9 cr for equipment and factory work and ₹3.5 cr for acquisitions were still to be used.Annual report FY26, p.29
- Warehouse racking stake
- 65% → 90%
- The company's share of Progulf Warehousing Solutions during FY26, before it became a private limited company in February 2026.Annual report FY26, p.19
- Certifications
- ISO and SEDEX
- ISO certificates for energy, safety and medical device quality, and a SEDEX ethical supply chain audit.Prospectus, p.128 and p.164
- Promoter holding
- 66.98%
- Held by the four promoters in March 2026, with nothing pledged.Shareholding pattern, March 2026
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Rexpro Enterprises earns money by designing and building custom shop fittings and furniture for large retailers and brands, so its sales rise and fall with their store openings and with big one off orders.
Its weak spots are a handful of large customers, lumpy orders, thin margins once a big order passes, and IPO money that is still largely unspent.
WatchCan it set its own prices?Not much. Prices are agreed job by job with customers' purchase teams after a prototype, and it has no brand of its own.
AverageHow strong is it against rivals?It does many materials and processes under one roof and is a repeat vendor to big retailers, but the furniture trade is crowded with organised and unorganised makers.
WatchWho are its customers?Well known retailers and consumer brands, but ten of them give most of the sales.
WatchDoes it need a lot of money?Yes. Customers take months to pay and stock is held for jobs, so operations used cash in the last two years even before the planned plant spending.
AverageCan it keep finding new work?It keeps adding product lines and gets repeat orders from existing clients, but it reports no order book.
WatchDo good and bad years swing a lot?Yes. A large order can lift a year and its absence can halve profit, as FY26 showed.
Who runs Rexpro Enterprises?
Promoters, directors and officers; tap a name for the background
PNPremal Niranjan ShahPromoter, Chairman and Managing Director · holds 19.11%
MBA from Welingkar Institute, Mumbai University (1998), with over 20 years in business and over 12 in manufacturing. Started in advertising at Lintas in 1999, co-founded Rex Enterprises with Ragesh Deepak Bhatia in 2002 and Rexpro in 2012; a director since incorporation, redesignated Chairman and Managing Director in August 2024, and in charge of finance. Paid ₹0.27 cr in FY24.
Prospectus, p.182, p.185 and p.188RDRagesh Deepak BhatiaPromoter and Whole Time Director · holds 19.11%
MBA in Marketing from Welingkar Institute, with over 25 years in marketing, including Classic Stripes and Ogilvy and Mather. Co-founded Rex Enterprises in 2002 and Rexpro in 2012; handles design and key accounts in FMCG, beauty and lifestyle.
Prospectus, p.182 and p.185RSRavishankar Sriramamurthi MallaPromoter and Whole Time Director · holds 19.11%
MBA in Marketing from Mumbai University, with over 10 years in corporate marketing, retail rollouts and procurement at Hindustan Unilever and L'Oréal. A director of Rexpro since 2021; manages key accounts and furniture for very large stores. Paid ₹0.27 cr in FY24.
Prospectus, p.182, p.185 and p.188MAMinesh Anilbhai ChovatiaPromoter and Whole Time Director · holds 9.65%
Bachelor of Science in Mathematics from Mumbai University, with about 12 years in inventory, production and purchase, including as a partner in a metal powder coating firm. A director since 2020; oversees procurement, inventory and vendors. Paid ₹0.27 cr in FY24.
Prospectus, p.185, p.186 and p.188SLShankar Laxman ChalkeChief Financial Officer
Bachelor of Commerce with about 19 years in accounts and finance, starting at a chartered accountant firm in 2005; joined Rexpro as accounts manager in March 2012 and became Chief Financial Officer in August 2024.
Prospectus, p.191 and p.197PTParas Tushar ShahIndependent Director
Chartered Accountant since 2013 in practice, with 11 years in tax, compliance, financial management and governance at audit firms in Pune. Independent Director from August 2024.
Prospectus, p.182 and p.186Rexpro Enterprises latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹28.6 cr (-50%), net profit ₹0.3 cr (-92%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 66.98%.
Rexpro Enterprises announcements
18 on record, latest first; each opens the filing on the exchange
- Shareholders meetingvoting results of Annual General Meeting held on September 30, 2026PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 30, 2026PDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 30, 2026PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Copy of Newspaper PublicationInformation regarding 14th Annual General Meeting to be held through Video Conference (VC)/ Other Audio Visual Means (OAVM)PDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 30, 2026PDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- Record Datethat Record date for the purpose of Meeting is 23-Sep-2026PDF ↗
- Change in Company Secretary/Compliance OfficerChange in Company Secretary/Compliance OfficerPDF ↗
- General UpdatesGeneral UpdatesPDF ↗
- ResignationOf Ms Khushboo Nilesh Rawat as Company Secretary and Compliance Officer of the company w.e.f. September 05, 2026PDF ↗
- AppointmentOf Mr. Abhishek Surendra Yadav as Company Secretary & Compliance Officer of the company w.e.f. September 07, 2026PDF ↗
Rexpro Enterprises annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Rexpro Enterprises share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Rexpro Enterprises' data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,12,06,460 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY24 (₹176.47) and FY25 (₹9.43) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY21 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Rexpro Enterprises
What does Rexpro Enterprises do?
Rexpro Enterprises makes made to order shop fittings, display units and kiosks for retailers and brands, along with office and school furniture, warehouse racks and noise barriers, at its plants in Vasai near Mumbai. Its shares trade on NSE Emerge.
What is the share price of Rexpro Enterprises?
₹28.3 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Rexpro Enterprises?
₹32 cr at the close on 6 Nov 2026, on 1,12,06,460 shares.
What is the P/E of Rexpro Enterprises?
14.4 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Rexpro Enterprises' revenue and profit?
Revenue ₹74 cr and profit after tax ₹2 cr in FY26.
Who are the promoters of Rexpro Enterprises?
Premal Niranjan Shah, Ragesh Deepak Bhatia, Ravishankar Sriramamurthi Malla, Minesh Anilbhai Chovatia; promoters held 66.98% at 31 March 2026.
What was the IPO price of Rexpro Enterprises?
₹145 a share; it listed on 29 Jan 2025.
What is Rexpro Enterprises' website?
www.rexpro.co
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Built from 2 annual reports, 1 offer document, 18 exchange announcements, 4 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.