At a Glance
Markobenz Ventures Ltd (a.k.a. Newtrac Foods & Beverages) just dropped its Q1 FY26 results and a boardroom soap opera simultaneously. Sales came in at ₹13.37 crore, down 28% QoQ, net profit trickled to ₹0.24 crore, and OPM collapsed to a toothpick-thin 0.60%. To spice it up, CEO Vishal Kelkar was booted over the mysterious “Holkar Project” fiasco. Promoters? They’ve almost left the WhatsApp group with just 18.5% holding.
Introduction
Once a fur fabric player, now dabbling in food & beverages – Markobenz Ventures is that friend who keeps switching careers, expecting instant success. Investors, however, are treating it like a hot potato, evident from its price nosedive (52-week high ₹24.8, now ₹8.93). The quarterly numbers scream “We’re trying, okay?”
Business Model (WTF Do They Even Do?)
Originally, the company was into high-pile fur, acrylics, and textiles. Now it has diversified into food & beverages under “Newtrac”. Translation: They went from making blankets to snacks. The new avatar looks promising on paper but smells like a half-baked pivot. Low promoter confidence isn’t helping.
Financials Overview
- Revenue (Q1 FY26): ₹13.37 crore (vs ₹18.57 crore Q4 FY25)
- Net Profit: ₹0.24 crore (vs ₹0.17 crore QoQ)
- OPM: 0.60% (barely there)
- ROE: 58.4% (thanks to a low equity base, not magic)
- ROCE: 83.3% (yes, the ratios look like they’re on steroids)
Numbers look good only if you ignore the tiny denominator.
Valuation
- P/E: 42x (for a company with micro-profits? Bold.)
- Fair Value Range:
- P/E-based: ₹5–₹7
- EV/EBITDA-based: ₹6–₹8
- DCF (lol): ₹9–₹10
DCF says ₹10, market says ₹8.9 – for once, no one’s lying, just yawning.
What’s Cooking – News, Triggers, Drama
- CEO Vishal Kelkar terminated post-Holkar Project controversy.
- Name change to Newtrac Foods & Beverages hints at FMCG ambitions.
- Promoter holding nosedived from 74% to 18.5% in a year – ouch.
- Q1 results show revenue shrinking; turnaround remains a myth.
Balance Sheet
| (₹ Cr) | Mar 2024 | Mar 2025 |
|---|---|---|
| Assets | 11.48 | 27.41 |
| Liabilities | 16.50 | 16.17 |
| Net Worth | -5.02 | 11.18 |
| Borrowings | 0.00 | 0.06 |
Assets doubled, liabilities steady – still a risky game.
Cash Flow – Sab Number Game Hai
| (₹ Cr) | FY23 | FY24 | FY25 |
|---|---|---|---|
| Operating CF | -0.14 | 2.79 | -16.23 |
| Investing CF | 0.00 | -0.02 | 0.00 |
| Financing CF | 0.14 | 0.01 | 14.40 |
Negative ops cash flow in FY25, survival powered by financing. Classic penny stock energy.
Ratios – Sexy or Stressy?
| Metric | Value |
|---|---|
| ROE | 58.4% |
| ROCE | 83.3% |
| P/E | 42.0 |
| PAT Margin | 3.3% |
| D/E | 0.01 |
High returns? Yes. Sustainable? Doubtful.
P&L Breakdown – Show Me the Money
| (₹ Cr) | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 0.00 | 23.85 | 64.08 |
| EBITDA | -0.17 | 1.75 | 2.59 |
| PAT | -0.17 | 2.19 | 1.80 |
Revenue jumped in FY24–25, but profits are crawling.
Peer Comparison
| Company | Rev (₹ Cr) | PAT (₹ Cr) | P/E |
|---|---|---|---|
| Redington | 99,334 | 1,171 | 19.1 |
| Vintage Coffee | 366 | 50 | 38.7 |
| TCC Concept | 93.5 | 46 | 38.3 |
| Markobenz | 62.4 | 1.43 | 42.0 |
Peers have scale; Markobenz has vibes.
Miscellaneous – Shareholding, Promoters
- Promoters: 18.5% (was 74% last year – the Titanic has sailed)
- Public: 81.2% (bagholders unite)
- No big DII/FII action.
Promoter exits usually mean they know something we don’t. Red flag? You bet.
EduInvesting Verdict™
Markobenz Ventures is that penny stock with more drama than earnings. A turnaround requires not just rebranding but real business execution. For now, it’s a speculative playground, not an investor’s paradise.
“A decent pit stop, but don’t expect business class legroom.”
Written by EduInvesting Team | 28 July 2025
SEO Tags
Markobenz Ventures, Newtrac Foods, Penny Stock, Q1 FY26 Results, Vishal Kelkar Removal
