1. At a Glance – Blink and You’ll Miss the Punch 🥊
Assam Entrade Ltd is that quiet backbencher in the NBFC classroom who suddenly tops the exam and everyone asks, “Arre yeh kaun hai?”
Market cap sits at ₹119 Cr, stock price hovering around ₹827, and the share has casually delivered ~63% return in one year, while sales politely said “nah” and stayed flat-ish.
Latest quarter (Q3 FY26, Dec 2025) shows PAT of ₹2.41 Cr, up a cartoonish 471% YoY, while quarterly revenue stood at ₹2.32 Cr (down slightly QoQ). EPS for the quarter came in at ₹16.74, which is more than what some smallcaps earn in a full year.
Debt? Practically non-existent.
Promoter holding? A solid 53.18%, unchanged.
ROE? A sleepy 4.74%, still waking up.
This stock is behaving like a disciplined uncle who suddenly danced at a wedding. Suspicious? Interesting? Both. Ready to dig? 😏
2. Introduction – The Curious Case of Assam Entrade 🕵️
Assam Entrade Ltd was incorporated in 1985, which means this company has seen Harshad Mehta, Ketan Parekh, Demat, Aadhaar, UPI, crypto, and still survived. Respect.
On paper, it’s a Non-Banking Financial Company (NBFC) that does three things:
- Trades in shares and mutual funds
- Gives inter-corporate loans
- Has a toe dipped in real estate township development
Sounds simple, right? But the numbers tell a far more masaledaar story.
Revenue over the years has gone nowhere fast — 5-year sales CAGR is -4%. Meanwhile profits have quietly compounded at 15% over 5 years, powered less by core operations and more by financial jugglery — sorry, “capital allocation”.
This is not Bajaj Finance. This is not Shriram Finance. This is more like “Hum apna jugaad khud karte hain.”
So the big question:
Is Assam Entrade a smart balance-sheet allocator… or
just a beneficiary of volatile other income? Let’s break it piece by piece.
3. Business Model – WTF Do They Even Do? 🤔
Imagine a company whose business model PowerPoint has just three slides:
🟢 1. Investment & Trading in Securities
They buy and sell shares and mutual funds. No fancy algo desks, no CNBC shouting — just old-school investing. This explains why other income often swings wildly quarter to quarter.
🟢 2. Inter-Corporate Loans
They lend money to body corporates, usually secured. Interest income contributes a steady but not spectacular portion of revenue. This is the “beta kam hai, sleep better” part of the business.
🟢 3. Real Estate (Consortium Mode)
Assam Entrade is a lead member of a consortium developing an integrated residential township. No flashy launch ads yet, but this is the optionality angle — real estate cash flows can be lumpy but meaningful.
In FY22, revenue breakup looked like this:
- Interest on loans: ~44%
- Sale of shares & securities: ~36%
- Dividend & commission: ~1%
- Other income: ~19%
So yes, this is less NBFC and more “family office with a BSE listing.”
Would you trust your capital here? Hold that thought.
4. Financials Overview – Numbers Don’t Lie, But They Do Smirk
