📆 CMP ₹116 | Market Cap ₹249 Cr | P/E 395x | Book Value ₹15.9
✍️ Written by Prashant | 📅 July 5, 2025
1. At a Glance (Excerpt)
Milgrey Finance & Investments Ltd — a ghost from the 80s — once financed Bollywood film producers and now… just “invests in securities”. Despite near-zero revenues, near-zero RoE, and near-invisible profits, the stock has spiked 78% in a year and trades at a P/E of 395. What’s cooking? Probably nothing. But let’s pretend we’re SEBI for a moment.
2. 🎬 Flashback Intro – From Films to Finance Fables
Founded in 1983, Milgrey sounds like a character from a Saif Ali Khan movie. Once a financier to film producers (👀 Bollywood nexus alert), the company now invests in securities.
But here’s the real drama:
- ₹0.32 Cr sales in FY24
- ₹0.63 Cr profit in FY25
- ₹249 Cr market cap
- 82% of promoter holding pledged or encumbered
- Stock up 273% from its ₹31 low
Sounds like the plot of Scam 1992 Season 2, doesn’t it?
3. 📦 WTF Do They Even Do? – Business Model
Milgrey’s website and filings give us this:
- 📈 Invests in listed/unlisted shares and securities (basically a glorified Demat account)
- 🔁 Short-term and long-term trading
- 🎥 Used to lend to film producers – a line that still haunts their description
No active lending. No AUM. No NBFC license per current disclosures. No real operations.
So what
