1. At a Glance
Likhami Consulting posted Q1 FY26 numbers that look more like a freelancer’s bank statement: Revenue ₹14.77 lakh, Net Profit ₹1.38 lakh. Yet, the market cap is a spicy ₹301 Cr with a P/E of 1077x. If valuations were movies, this one’s a Bollywood masala with no plot.
2. Introduction
Imagine a consultancy that does everything – from branding to M&A – but barely earns enough to buy a decent coffee machine. That’s Likhami. Stock is trading at ₹303, but the financials are whispering, “Who’s buying this story?”
3. Business Model – WTF Do They Even Do?
They promise to consult on:
- Projects: Feasibility, reports, branding.
- Finance: Loan syndication, valuations.
- Business: Restructuring, spin-offs, liquidation.
- Research: Mega trends, disruptive tech.
Basically, if it can be PowerPointed, they’ll do it.
4. Financials Overview
- Q1 FY26 Revenue: ₹0.15 Cr (down 50% YoY)
- Net Profit: ₹0.01 Cr
- OPM: 13% (but on peanuts)
Verdict: Consultancy business? More like “con-sultancy”.
5. Valuation – What’s This Stock Worth?
- Current P/E: 1077x
- Fair Value Range: ₹10 – ₹20 (generous)
- Market is clearly on something stronger than caffeine.
6. What-If Scenarios
- Bull Case: They land a real project → ₹350.
- Bear Case: Reality hits → ₹50.
- Base Case: ₹100 – ₹150 as hype fades.
7. What’s Cooking (SWOT Analysis)
Strengths: Debt-free, fancy service list.
Weakness: No scale, microscopic revenue.
Opportunities: Tie-ups or acquisition by a bigger player.
Threats: A bad quarter away from irrelevance.
8. Balance Sheet 💰
| Particulars (Mar’25) | Amount (₹ Cr) |
|---|---|
| Equity Capital | 9.95 |
| Reserves | 24.96 |
| Borrowings | 0 |
| Total Assets | 34.97 |
| Comment: Assets barely moved in a decade – like a parked scooter. |
9. Cash Flow (FY23–FY25)
| Year | CFO (₹ Cr) | CFI (₹ Cr) | CFF (₹ Cr) |
|---|---|---|---|
| FY23 | 0.12 | 0.00 | 0.00 |
| FY24 | 0.02 | 0.00 | 0.00 |
| FY25 | 0.16 | -0.21 | 0.00 |
| Snark: Cash flow is as flat as a consultant’s diet soda. |
10. Ratios – Sexy or Stressy?
| Metric | Value |
|---|---|
| ROE | 0.63% |
| ROCE | 0.86% |
| D/E | 0.0 |
| PAT Margin | ~10% |
| P/E | 1077x |
| Punchline: Ratios look like a joke investors forgot to laugh at. |
11. P&L Breakdown – Show Me the Money
| Year | Revenue (₹ Cr) | EBITDA (₹ Cr) | PAT (₹ Cr) |
|---|---|---|---|
| FY23 | 0.62 | 0.24 | 0.17 |
| FY24 | 0.63 | 0.22 | 0.16 |
| FY25 | 0.67 | 0.30 | 0.22 |
| Growth? Only on paper. |
12. Peer Comparison
| Company | Rev (₹ Cr) | PAT (₹ Cr) | P/E |
|---|---|---|---|
| Techknowgreen | 30.7 | 7.7 | 18 |
| Ekansh Concept | 7.6 | 1.9 | 233 |
| Likhami Consulting | 0.7 | 0.3 | 1077 |
| Others have revenue; Likhami has valuation fever. |
13. EduInvesting Verdict™
Likhami Consulting is a story stock – heavy on story, light on numbers. For investors, it’s like buying a consultancy firm with consulting advice on how to burn cash stylishly.
Written by EduInvesting Team | 28 July 2025
Tags: Likhami Consulting, Microcap, Q1 FY26 Results, EduInvesting Premium
