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Pervasive Commodities Ltd

PERVASIVE

BSE

₹12.56+1.95%19 Oct 2026

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Trading

Pervasive Commodities Ltd

PERVASIVE

BSE

₹12.56

+1.95%

19 Oct 2026

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Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Deep Dive Report: In-depth business analysis.

Pervasive Commodities Ltd is a commodity trader that makes its money by buying and selling agricultural goods, metals and energy - not by making anything itself. Originally incorporated as an electronics company and later a niche castor-seed dealer, it has spent the years covered by these filings steadily widening its hunting ground to include everything from wheat and sugar to gold and oil. The recurring approach is to operate with almost no physical infrastructure - two permanent employees, no factories, no immovable property - while using futures and other derivative contracts to hedge against the violent price swings of the commodities it trades.

Business segments

A single trading engine that buys and sells soft and hard commodities through both physical delivery and financial derivatives - with a proposed expansion into farming, jewellery and real estate waiting in the wings.

1. Commodity trading: the group's only operating engine

The company earns by taking positions in agricultural and non-agricultural commodities, using futures contracts backed by physical assets to manage price risk in markets that can turn on a drought or a geopolitical shock.

Soft and hard under one roof - it trades soft commodities like wheat, coffee, cocoa and sugar alongside hard commodities such as gold and oil, giving it exposure to both weather-driven and macro-driven price cycles.
Derivatives are the toolkit - the business uses spot contracts, forwards, futures and options to execute trades, with futures secured by underlying physical assets serving as the primary hedge against price swings.
No factory, no fields - the company does no manufacturing and owns no immovable property; its entire asset base as of FY23 was office equipment and computers worth less than a lakh of rupees, which means its returns depend entirely on trading skill rather than plant utilisation.
A two-person operation - with only two permanent employees on the rolls, the company runs lean, relying on its managing director's eight years of experience in commodity marketing and administration rather than on a large analytical or trading desk.
India-only, for now - across all periods covered, the company had zero foreign-exchange earnings, zero imports and zero export revenue, meaning every trade it has booked has been domestic.

Group structure and partners

The company stands alone - no subsidiaries, no joint ventures, no related-party transactions - but a Rs 90-crore warrant issue to nine outside entities has set the stage for a capital base far larger than its trading history would suggest.

No group, no partners - as of FY25, Pervasive Commodities has no holding company, no subsidiary, no associate and no joint venture, and it has not entered into a single related-party transaction in any of the years reviewed, though the Audit Committee has granted omnibus approval for related party transactions and reviews them quarterly.
A warrant-fuelled war chest - in July 2024, the company allotted 9 crore convertible warrants at Rs 10 each to nine non-promoter entities, collecting Rs 22.5 crore upfront as the 25% subscription amount; if all warrants are converted within 18 months, the total inflow would reach Rs 90 crore and each allottee would hold 11.1% of the post-issue equity.
Promoters stepping back - two promoter-group entities, Enigma Merchants LLP and Winspire Project Consultants, have applied to be reclassified as public shareholders, certifying that they hold less than 10% voting rights, exercise no control and have no board representation.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

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Mkt Cap

Market Capitalization

₹1,132Cr

Close Price

₹12.56

Industry

Trading

Price To Earnings

—

Price To Sales

28.36

Revenue

₹40Cr

Rev Gr TTM

Revenue Growth TTM

25.63%

PAT Gr TTM

PAT Growth TTM

-8.33%

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	0	0	0	2	13	2	13	4	0	6	33	0
Growth YoY Revenue Growth YoY%				95.5	12,590.0		18,528.6	68.2	-96.8	159.7	151.8	-86.6
Expenses ExpensesCr	0	0	0	2	12	2	14	4	16	5	18	1
Operating Profit Operating ProfitCr	0	0	0	0	0	0	-1	0	-16	1	15	0
OPM OPM%	10.0		-28.6	19.8	1.7	9.2	-6.0	-4.1	-3,960.0	12.9	44.9	-12.2
Other Income Other IncomeCr	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	0	0	0	0	0	0	-1	0	-16	1	15	0
Tax TaxCr	0	0	0	0	0	0	0	0	0	0	0	0
PAT PATCr	0	0	0	0	0	0	-1	0	-16	1	15	0
Growth YoY PAT Growth YoY%	116.7	-66.7	114.3	82.3	2,200.0	400.0	-3,100.0	-67.7	-6,904.4	426.7	2,553.3	-90.0
NPM NPM%	10.0		28.6	14.3	1.8	6.3	-4.6	2.7	-3,912.5	12.8	44.8	2.0
EPS EPS₹	1.0	-5.7	2.1	32.9	26.3	1.6	-62.9	2.1	-164.4	0.0	0.2	0.0

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	0	0	0	2	13	2	13	4	0	6	33	0
Growth YoY Revenue Growth YoY%				95.5	12,590.0		18,528.6	68.2	-96.8	159.7	151.8	-86.6
Expenses ExpensesCr	0	0	0	2	12	2	14	4	16	5	18	1
Operating Profit Operating ProfitCr	0	0	0	0	0	0	-1	0	-16	1	15	0
OPM OPM%	10.0		-28.6	19.8	1.7	9.2	-6.0	-4.1	-3,960.0	12.9	44.9	-12.2
Other Income Other IncomeCr	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	0	0	0	0	0	0	-1	0	-16	1	15	0
Tax TaxCr	0	0	0	0	0	0	0	0	0	0	0	0
PAT PATCr	0	0	0	0	0	0	-1	0	-16	1	15	0
Growth YoY PAT Growth YoY%	116.7	-66.7	114.3	82.3	2,200.0	400.0	-3,100.0	-67.7	-6,904.4	426.7	2,553.3	-90.0
NPM NPM%	10.0		28.6	14.3	1.8	6.3	-4.6	2.7	-3,912.5	12.8	44.8	2.0
EPS EPS₹	1.0	-5.7	2.1	32.9	26.3	1.6	-62.9	2.1	-164.4	0.0	0.2	0.0

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	0	1	3	3	0	3	11	0	1	30	43	40
Growth Revenue Growth%	116.4	271.4	121.3	20.2	-100.0		226.2	-100.0		2,262.9	42.2	25.6
Expenses ExpensesCr	1	1	3	3	0	3	11	0	1	30	27	40
Operating Profit Operating ProfitCr	0	0	0	0	0	0	0	0	0	0	16	0
OPM OPM%	-51.6	3.2	-0.2	-1.4		-0.6	-0.2		12.5	0.3	37.2	-0.9
Other Income Other IncomeCr	0	0	0	0	0	0	0	0	0	0	-16	0
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	0	0	0	0	0	0	0	0	0	0	0	0
Tax TaxCr	0	0	0	0	0	0	0	0	0	0	0	0
PAT PATCr	0	0	0	0	0	0	0	0	0	0	0	0
Growth PAT Growth%	17.0	124.0	-57.0	-53.2	-51.8	99.4	-420.3	-783.4	161.9	-37.3	-148.5	-8.3
NPM NPM%	-51.0	3.3	0.6	0.3		0.2	-0.2		11.1	0.3	-0.1	-0.3
EPS EPS₹	-18.3	4.4	1.9	0.9	0.4	0.8	-0.3	-2.9	14.9	9.3	0.0	-164.2

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	0	1	3	3	0	3	11	0	1	30	43	40
Growth Revenue Growth%	116.4	271.4	121.3	20.2	-100.0		226.2	-100.0		2,262.9	42.2	25.6
Expenses ExpensesCr	1	1	3	3	0	3	11	0	1	30	27	40
Operating Profit Operating ProfitCr	0	0	0	0	0	0	0	0	0	0	16	0
OPM OPM%	-51.6	3.2	-0.2	-1.4		-0.6	-0.2		12.5	0.3	37.2	-0.9
Other Income Other IncomeCr	0	0	0	0	0	0	0	0	0	0	-16	0
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	0	0	0	0	0	0	0	0	0	0	0	0
Tax TaxCr	0	0	0	0	0	0	0	0	0	0	0	0
PAT PATCr	0	0	0	0	0	0	0	0	0	0	0	0
Growth PAT Growth%	17.0	124.0	-57.0	-53.2	-51.8	99.4	-420.3	-783.4	161.9	-37.3	-148.5	-8.3
NPM NPM%	-51.0	3.3	0.6	0.3		0.2	-0.2		11.1	0.3	-0.1	-0.3
EPS EPS₹	-18.3	4.4	1.9	0.9	0.4	0.8	-0.3	-2.9	14.9	9.3	0.0	-164.2

Standalone

Numbers

Percentage

Financial Year	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	0	0	90
Reserves ReservesCr	0	0	0
Current Liabilities Current LiabilitiesCr	1	0	15
Non Current Liabilities Non Current LiabilitiesCr	0	0	0
Total Liabilities Total LiabilitiesCr	1	59	105
Current Assets Current AssetsCr	1	59	105
Non Current Assets Non Current AssetsCr	0	0	0
Total Assets Total AssetsCr	1	59	105

Financial Year	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	0	0	90
Reserves ReservesCr	0	0	0
Current Liabilities Current LiabilitiesCr	1	0	15
Non Current Liabilities Non Current LiabilitiesCr	0	0	0
Total Liabilities Total LiabilitiesCr	1	59	105
Current Assets Current AssetsCr	1	59	105
Non Current Assets Non Current AssetsCr	0	0	0
Total Assets Total AssetsCr	1	59	105

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	0	0	0	0	0	0	0	0	0	-28	-37
Investing Cash Flow Investing Cash FlowCr	0	0	0	0	0	0	0	0	0	0	0
Financing Cash Flow Financing Cash FlowCr	0	0	0	0	0	0	0	0	0	28	37
Net Cash Flow Net Cash FlowCr	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow Free Cash FlowCr	0	0	0	0	0	0	0	0	0	-28	-37
CFO To PAT CFO To PAT%	200.9	790.0	348.4	168.0	-2,178.0	-1,752.6	-516.2	34.9	-1.2	-31,767.6	86,331.1
CFO To EBITDA CFO To EBITDA%	198.8	813.6	-1,094.3	-29.6	152.3	738.4	-530.6	37.3	-1.1	-31,102.1	-232.3

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	0	0	0	0	0	0	0	0	0	-28	-37
Investing Cash Flow Investing Cash FlowCr	0	0	0	0	0	0	0	0	0	0	0
Financing Cash Flow Financing Cash FlowCr	0	0	0	0	0	0	0	0	0	28	37
Net Cash Flow Net Cash FlowCr	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow Free Cash FlowCr	0	0	0	0	0	0	0	0	0	-28	-37
CFO To PAT CFO To PAT%	200.9	790.0	348.4	168.0	-2,178.0	-1,752.6	-516.2	34.9	-1.2	-31,767.6	86,331.1
CFO To EBITDA CFO To EBITDA%	198.8	813.6	-1,094.3	-29.6	152.3	738.4	-530.6	37.3	-1.1	-31,102.1	-232.3

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr												1,132
Price To Earnings Price To Earnings
Price To Sales Price To Sales												28.4
Price To Book Price To Book												12.6
EV To EBITDA EV To EBITDA												-3,172.2
Profitability Ratios Profitability Ratios
GPM GPM%	-1.9	9.9	2.0	0.2		2.2	2.0		21.4	3.0	38.7	38.7
OPM OPM%	-51.6	3.2	-0.2	-1.4		-0.6	-0.2		12.5	0.3	37.2	-0.9
NPM NPM%	-51.0	3.3	0.6	0.3		0.2	-0.2		11.1	0.3	-0.1	-0.3
ROCE ROCE%	-60.5	-289.9	384.7	48.7	7.4	47.4	-506.4	93.3	86.5	29.8	0.0	0.0
ROE ROE%	320.1	-287.2	525.1	71.1	27.5	35.5	835.5	98.6	-157.3	-6,342.9	-0.1	-0.1
ROA ROA%	-49.7	10.7	16.1	6.0	2.2	4.2	-13.0	-144.1	10.5	0.1	0.0	0.0
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr												1,132
Price To Earnings Price To Earnings
Price To Sales Price To Sales												28.4
Price To Book Price To Book												12.6
EV To EBITDA EV To EBITDA												-3,172.2
Profitability Ratios Profitability Ratios
GPM GPM%	-1.9	9.9	2.0	0.2		2.2	2.0		21.4	3.0	38.7	38.7
OPM OPM%	-51.6	3.2	-0.2	-1.4		-0.6	-0.2		12.5	0.3	37.2	-0.9
NPM NPM%	-51.0	3.3	0.6	0.3		0.2	-0.2		11.1	0.3	-0.1	-0.3
ROCE ROCE%	-60.5	-289.9	384.7	48.7	7.4	47.4	-506.4	93.3	86.5	29.8	0.0	0.0
ROE ROE%	320.1	-287.2	525.1	71.1	27.5	35.5	835.5	98.6	-157.3	-6,342.9	-0.1	-0.1
ROA ROA%	-49.7	10.7	16.1	6.0	2.2	4.2	-13.0	-144.1	10.5	0.1	0.0	0.0
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	QLINE	ONIXSOLAR	NRL	PERVASIVE	ARIS	TEMBO	DVL
Market CapitalizationMkt CapCr	1,401	1,321	1,153	1,132	1,129	1,054	995
Close PriceClose₹	600.55	358.35	166.90	12.56	138.01	56.84	284.05
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	27.20	41.96	67.30		16.03	11.30	5.13
Price To SalesPS	4.10	7.99	4.72	28.36	0.98	0.92	2.24
RevenueRevenueCr	342	165	244	40	1,146	1,144	443
Revenue Growth TTMRev Gr TTM%	9.1%		40.6%	25.6%	45.2%	34.1%	-20.1%
PAT Growth TTMPAT Gr TTM%	255.4%		29.9%	-8.3%	1,510.5%	57.7%	32.9%

	QLINE	ONIXSOLAR	NRL	PERVASIVE	ARIS	TEMBO	DVL
Market CapitalizationMkt CapCr	1,401	1,321	1,153	1,132	1,129	1,054	995
Close PriceClose₹	600.55	358.35	166.90	12.56	138.01	56.84	284.05
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	27.20	41.96	67.30		16.03	11.30	5.13
Price To SalesPS	4.10	7.99	4.72	28.36	0.98	0.92	2.24
RevenueRevenueCr	342	165	244	40	1,146	1,144	443
Revenue Growth TTMRev Gr TTM%	9.1%		40.6%	25.6%	45.2%	34.1%	-20.1%
PAT Growth TTMPAT Gr TTM%	255.4%		29.9%	-8.3%	1,510.5%	57.7%	32.9%

FY2026

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FY2023

FY2022

FY2026

Jun 26