Hemang Resources (BSE: HEMANG) is loss-making over the last 12 months, losing ₹1.14 Cr, so a P/E ratio does not apply. Its share price on 6 Nov 2026 was ₹8.34, 66% below its 52-week high. Sales fell 66% a year over 3 years. The company has almost no debt. It is a small-cap company with a market cap of ₹11 Cr, ranked 9th of 10 Thermal Coal companies by market cap; the shares fell 58% over the past year.
- ₹8.99
- ₹9.00
- ₹8.20
- ₹9.00
- 5.5K
Health check
- ReturnsBehind
−58.1% over a year, better than 0 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- GrowthShrinking
Sales −66.0% a year over 3 years.
- ProfitabilityNegative
ROCE -2.2% vs peer median 16.8%.
- Balance sheetFair
Debt 0.07× equity, Piotroski 4 of 9.
- Red flags5 to check
Loss-making over the last twelve months.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹11 Cr
- Small cap
- P/E
- n/a
- Industry 10.5
- Price to book
- 0.47
- Peers 2.08
- Dividend yield
- 0.00%
- ROE
- −4.5%
- Peers 10.0%
- ROCE
- −2.2%
- Peers 16.8%
- Debt to equity
- 0.07
- Debt ₹1.71 Cr
- EPS (TTM)
- −₹0.87
- OPM (TTM)
- −1741.0%
- Net margin −16.6%
- Sales growth
- −99.2%
- Latest quarter vs a year ago
- Profit growth
- −132.1%
- Latest quarter vs a year ago
- Price to sales
- 1.61
- EV/EBITDA −9.5
Strengths and risks
Strengths
- Practically debt-free.
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at −4.5%.
- Quarterly profit down 132.1% on a year ago.
- Quarterly sales down 99.2% on a year ago.
- 66% below its 52-week high.
About Hemang Resources
Hemang Resources Limited engages in the coal trading and infrastructure businesses in India. The company is involved in the trading of imported and indigenous coal and selling to various industries; and trades in land. It also provides stevedoring and logistic services. The company was formerly known as Bhatia Industries and Infrastructure Limited and changed its name to Hemang Resources Limited in March 2015. Hemang Resources Limited was incorporated in…
- Headquarters
- Indore
- Employees
- 5
- Sector
- Energy
- ISIN
- INE930A01010
- Website
- bhatiacoalindia.com
Price range
- Avg volume (3M)
- 5.1K
- 1-year return
- minus 58.1%
- From 52-week high
- minus 66.4%
Peers · Thermal Coal
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIENTAdani Enterprises | 2,745.80 | plus 0.46% | 3,71,705 | 58.5 | 32.1 | 9.8% | 8.2% | 1.14 | −7.7% | plus 13.0% |
| COALINDIACoal India | 400.00 | plus 1.45% | 2,46,509 | 7.4 | 4.8 | 19.6% | 19.5% | 0.12 | 9.3% | plus 4.4% |
| GMDCLTDGujarat Mineral Development Corporation | 463.70 | minus 1.21% | 14,746 | 22.3 | 27.2 | 15.5% | 14.0% | 0.05 | −8.8% | minus 20.2% |
| GMRP&UIGMR Power and Urban Infra | 92.21 | minus 0.99% | 7,202 | – | 11.0 | 18.1% | 23.0% | 5.60 | 11.4% | minus 24.2% |
| CMLLCaliber Mining and Logistics | 520.15 | minus 1.98% | 3,401 | 22.7 | 10.0 | 19.8% | 9.9% | 1.73 | 36.8% | plus 0.5% |
| REFEXRefex Industries | 226.25 | minus 2.17% | 3,105 | 10.5 | 7.3 | – | 14.0% | 0.18 | 12.0% | minus 38.2% |
| ANMOLAnmol India | 10.97 | minus 1.17% | 62 | 5.4 | 7.3 | 10.6% | 1.5% | 1.66 | 0.1% | minus 30.9% |
| HEMANGHemang Resources | 8.34 | minus 7.33% | 11 | – | – | −2.2% | −1741.0% | 0.07 | −66.0% | minus 58.1% |
| Median of 7 peers | – | −1.17% | 7,202 | 16.4 | 10.0 | 16.8% | 14.0% | 1.14 | 9.3% | −20.2% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1.2 | – | – | 6.8 | – | |
| 1.5 | – | – | 7.5 | – | |
| −0.2 | −0.2 | −0.2 | −0.7 | −0.2 | |
| −19.0% | – | – | −9.8% | – | |
| 0.8 | 0 | 0 | −0 | 0 | |
| – | 0 | – | 0 | – | |
| 0 | 0 | −0 | 0 | 0 | |
| 0.5 | −0.2 | −0.2 | −0.7 | −0.2 | |
| – | – | – | 16.7% | – | |
| 0.5 | −0.2 | −0.2 | −0.6 | −0.2 | |
| 0.41 | -0.17 | -0.14 | -0.43 | -0.13 |
Profit & loss
- Sales CAGR 3Y
- −66.0%
- ROE
- −4.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 205 | 37.1 | 8.8 | 8.1 | |
| – | minus 81.9% | minus 76.3% | minus 8.2% | |
| 195 | 52.5 | 7.9 | 9.4 | |
| 10.1 | −15.4 | 0.9 | −1.3 | |
| 4.9% | −41.4% | 9.9% | −16.5% | |
| 0.8 | 12.2 | 2.4 | 0.8 | |
| 0 | 0 | 0 | 0 | |
| −0 | −0.1 | −2.4 | −0 | |
| 11 | −3.3 | 0.9 | −0.5 | |
| 32.7% | 66.6% | 37.2% | 20.8% | |
| 7.4 | −1.1 | 0.5 | −0.4 | |
| – | minus 114.7% | – | minus 179.5% | |
| 5.59 | -0.82 | 0.41 | -0.33 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 13.2 | 13.2 | 13.2 | 13.2 | |
| 13.3 | 12.2 | 12.8 | 10.6 | |
| 3.4 | 1.9 | 1.7 | 1.7 | |
| 40.7 | 27.9 | 27.9 | 21.7 | |
| 70.6 | 55.2 | 55.6 | 47.2 | |
| 0 | 0 | 0 | 0 | |
| 0.4 | 0.4 | 0.2 | 0 | |
| 0.1 | 0.1 | 0.5 | 0.1 | |
| 70.1 | 54.8 | 54.8 | 47.1 | |
| 70.6 | 55.2 | 55.6 | 47.2 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −0.2 | 0.8 | 0.4 | 8.2 | |
| −0.1 | 0.6 | 0.2 | −0.6 | |
| – | −1.5 | −0.2 | −8 | |
| −0.3 | −0.1 | 0.5 | −0.5 | |
| – | −0 | – | – | |
| −0.2 | 0.8 | 0.4 | 8.2 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.