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Yogi Ltd

YOGI

NSE

₹160.74+0.56%19 Oct 2026

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Trading

Yogi Ltd

YOGI

NSE

₹160.74

+0.56%

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.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

Yogi Ltd is a financial and management services company that has reinvented itself twice in quick succession - first from a consultancy into a real‑estate developer, and now into a dual‑engine business that pairs property development with industrial‑machinery trading. The transformation was set in motion when the Patel brothers acquired control in December 2021, changed the company’s name from Parsharti Investment Limited to Yogi Limited, and rewrote its objects clause to pursue real estate. That same pattern - use a change of control to pivot into a new line of work, then add a second, cash‑generating activity to balance the first - is the recurring logic behind everything the company does today.

Business segments

Two engines at different stages - a real‑estate development business that is still building its first projects, and a machinery‑trading operation that was layered on top to bring in steadier cash flows while the property cycle plays out.

1. Real‑estate development: the group’s foundational bet

The company buys land, builds residential and commercial projects, and earns revenue either when it hands over a finished unit or as construction progresses - but the cycle can stretch up to five years.

Land first, revenue later - the business starts by acquiring land parcels, primarily near Mumbai, and then develops them into residential or commercial projects. Because the operating cycle can run up to five years, work‑in‑progress inventory sits on the balance sheet for long stretches before any sale is recognised.
Revenue depends on the handover - for residential units, income is booked at the point when physical possession is transferred to the buyer, or on deemed handover once the occupancy certificate is received and most of the sale price has been collected. For contractual projects, revenue is recognised over time based on how much of the total cost has been incurred so far.
Customer money is ring‑fenced - collections from buyers arrive in step with construction progress and must be used only for that specific project, as required by India’s Real Estate (Regulation and Development) Act. That means the cash from one project cannot simply be diverted to another.
The inventory tells the story - as of March 2024, the company held land advances of about Rs. 5.8 crore and work‑in‑progress of roughly Rs. 52.6 crore. A year earlier, work‑in‑progress stood at Rs. 31.3 crore, almost all of it in land purchases and direct materials. These are early‑stage numbers for a developer that is still assembling its project pipeline.

2. Machinery trading: the cash‑flow stabiliser

A young, high‑volume trading desk that buys and sells specialised metal‑cutting and machining equipment, serving factories across auto, pharma, power, and oil & gas.

Added to balance the property cycle - the board approved this segment in January 2025 with the explicit goal of diversifying revenue away from real estate and generating steadier cash flows. It is the second engine, bolted on while the first is still warming up.
Sells the tools that make everything else - the product range covers metal‑cutting machines, laser cutters, turning and milling centres, vertical machining centres, multi‑tasking machines, and their spare parts. Each machine is customised to the buyer’s factory requirements.
Big orders, short delivery - in late 2025 and early 2026, the company received purchase orders from a domestic entity, Companion Vinimay Trading Private Limited, for complete sets of industrial components - structure assemblies, head assemblies, rotary tables, tool changers and electrical accessories. The March 2026 order was worth about Rs. 26.28 crore and carried a delivery timeline of roughly 15 days.
A subsidiary will eventually house it - in February 2025, management decided to incorporate a wholly owned subsidiary, Yogi Corporation Private Limited, in Gujarat’s Rajkot district, with the intention of transferring all manufacturing and trading operations into it once it was set up.

Group structure and partners

The company is building a web of subsidiaries and associate entities - most of them in real estate - while the promoters and related parties provide both funding and deal flow.

A growing family of real‑estate vehicles - Yogi Ltd owns a 99.99% stake in Yogi Horizons LLP, a real‑estate and construction entity incorporated in April 2025. It also acquired 100% of Yogi Homes Private Limited, a company with a history of turnover in earlier years but nil revenue in the two most recent financial years.
Capital deployed through structured instruments - in June 2025, the company invested Rs. 45 crore in Farewell Real Estates Private Limited by subscribing to optionally convertible debentures, with a total commitment of Rs. 50 crore under the agreement. This is a way to fund real‑estate exposure without taking an equity stake outright.
Related parties are deeply intertwined - the promoters have common key managerial personnel across Yogi Realtors LLP and Yogi Homes Private Limited. Yogi Ltd had a non‑current loan of Rs. 12 crore outstanding from Yogi Realtors LLP as of March 2024, and it has borrowed from related parties including Galary Trading, Ganon Products, and the promoters themselves.
A dormant machinery subsidiary sits ready - Yogi Elitemach Private Limited was acquired as a wholly owned subsidiary in March 2025 but had not yet begun operations. It appears to be a shell positioned for future use in the industrial‑machinery side of the business.

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

Charts

Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹723Cr

Close Price

₹160.74

Industry

Trading

Price To Earnings

52.70

Price To Sales

1.82

Revenue

₹398Cr

Rev Gr TTM

Revenue Growth TTM

—

PAT Gr TTM

PAT Growth TTM

—

Consolidated

Standalone

Numbers

Percentage

Quarter	Mar 2024	Jun 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	0	0	0	111	90	135	57	157	49
Growth YoY Revenue Growth YoY%								41.6	-46.1
Expenses ExpensesCr	0	0	0	110	83	122	54	150	47
Operating Profit Operating ProfitCr	0	0	0	1	8	13	3	7	1
OPM OPM%				0.9	8.5	9.5	5.8	4.4	2.6
Other Income Other IncomeCr	0	0	0	2	0	0	2	1	1
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	2	3	4
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0
PBT PBTCr	0	0	0	2	8	13	3	5	-2
Tax TaxCr	0	0	0	1	2	3	1	1	0
PAT PATCr	0	0	0	2	6	9	2	4	-2
Growth YoY PAT Growth YoY%				1,242.9	4,050.0		1,200.0	96.8	-125.6
NPM NPM%				1.7	7.0	6.9	3.3	2.4	-3.3
EPS EPS₹	0.0	-0.1	-0.1	0.7	1.5	2.2	0.3	0.9	-0.4

Quarter	Mar 2024	Jun 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	0	0	0	111	90	135	57	157	49
Growth YoY Revenue Growth YoY%								41.6	-46.1
Expenses ExpensesCr	0	0	0	110	83	122	54	150	47
Operating Profit Operating ProfitCr	0	0	0	1	8	13	3	7	1
OPM OPM%				0.9	8.5	9.5	5.8	4.4	2.6
Other Income Other IncomeCr	0	0	0	2	0	0	2	1	1
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	2	3	4
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0
PBT PBTCr	0	0	0	2	8	13	3	5	-2
Tax TaxCr	0	0	0	1	2	3	1	1	0
PAT PATCr	0	0	0	2	6	9	2	4	-2
Growth YoY PAT Growth YoY%				1,242.9	4,050.0		1,200.0	96.8	-125.6
NPM NPM%				1.7	7.0	6.9	3.3	2.4	-3.3
EPS EPS₹	0.0	-0.1	-0.1	0.7	1.5	2.2	0.3	0.9	-0.4

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	0	111	439	398
Growth Revenue Growth%			295.6
Expenses ExpensesCr	1	111	409	373
Operating Profit Operating ProfitCr	-1	0	31	24
OPM OPM%		-0.1	7.0	6.1
Other Income Other IncomeCr	0	2	3	4
Interest Expense Interest ExpenseCr	0	0	6	10
Depreciation DepreciationCr	0	0	0	0
PBT PBTCr	-1	2	28	18
Tax TaxCr	0	1	7	5
PAT PATCr	0	1	21	13
Growth PAT Growth%		481.9	1,354.8
NPM NPM%		1.3	4.8	3.3
EPS EPS₹	-0.3	0.6	4.9	3.0

Financial Year	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	0	111	439	398
Growth Revenue Growth%			295.6
Expenses ExpensesCr	1	111	409	373
Operating Profit Operating ProfitCr	-1	0	31	24
OPM OPM%		-0.1	7.0	6.1
Other Income Other IncomeCr	0	2	3	4
Interest Expense Interest ExpenseCr	0	0	6	10
Depreciation DepreciationCr	0	0	0	0
PBT PBTCr	-1	2	28	18
Tax TaxCr	0	1	7	5
PAT PATCr	0	1	21	13
Growth PAT Growth%		481.9	1,354.8
NPM NPM%		1.3	4.8	3.3
EPS EPS₹	-0.3	0.6	4.9	3.0

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	22	41	43
Reserves ReservesCr	28	68	94
Current Liabilities Current LiabilitiesCr	3	361	530
Non Current Liabilities Non Current LiabilitiesCr	15	15	40
Total Liabilities Total LiabilitiesCr	74	488	712
Current Assets Current AssetsCr	56	478	701
Non Current Assets Non Current AssetsCr	18	10	11
Total Assets Total AssetsCr	74	488	712

Financial Year	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	22	41	43
Reserves ReservesCr	28	68	94
Current Liabilities Current LiabilitiesCr	3	361	530
Non Current Liabilities Non Current LiabilitiesCr	15	15	40
Total Liabilities Total LiabilitiesCr	74	488	712
Current Assets Current AssetsCr	56	478	701
Non Current Assets Non Current AssetsCr	18	10	11
Total Assets Total AssetsCr	74	488	712

Consolidated

Standalone

Financial Year	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-24	-69	-192
Investing Cash Flow Investing Cash FlowCr	-6	-4	-2
Financing Cash Flow Financing Cash FlowCr	31	73	228
Net Cash Flow Net Cash FlowCr	0	0	33
Free Cash Flow Free Cash FlowCr	-24	-69	-192
CFO To PAT CFO To PAT%	6,308.4	-4,748.7	-908.9
CFO To EBITDA CFO To EBITDA%	2,749.8	70,527.4	-626.1

Financial Year	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-24	-69	-192
Investing Cash Flow Investing Cash FlowCr	-6	-4	-2
Financing Cash Flow Financing Cash FlowCr	31	73	228
Net Cash Flow Net Cash FlowCr	0	0	33
Free Cash Flow Free Cash FlowCr	-24	-69	-192
CFO To PAT CFO To PAT%	6,308.4	-4,748.7	-908.9
CFO To EBITDA CFO To EBITDA%	2,749.8	70,527.4	-626.1

Consolidated

Standalone

Financial Year	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	101	480	704	723
Price To Earnings Price To Earnings		325.5	33.4	52.7
Price To Sales Price To Sales		4.3	1.6	1.8
Price To Book Price To Book	2.0	4.4	5.1	5.0
EV To EBITDA EV To EBITDA	-135.4	-5,141.2	30.0	38.8
Profitability Ratios Profitability Ratios
GPM GPM%		1.0	7.4	7.4
OPM OPM%		-0.1	7.0	6.1
NPM NPM%		1.3	4.8	3.3
ROCE ROCE%	-0.8	1.6	8.7	8.7
ROE ROE%	-0.8	1.3	15.4	15.4
ROA ROA%	-0.5	0.3	3.0	3.0
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	101	480	704	723
Price To Earnings Price To Earnings		325.5	33.4	52.7
Price To Sales Price To Sales		4.3	1.6	1.8
Price To Book Price To Book	2.0	4.4	5.1	5.0
EV To EBITDA EV To EBITDA	-135.4	-5,141.2	30.0	38.8
Profitability Ratios Profitability Ratios
GPM GPM%		1.0	7.4	7.4
OPM OPM%		-0.1	7.0	6.1
NPM NPM%		1.3	4.8	3.3
ROCE ROCE%	-0.8	1.6	8.7	8.7
ROE ROE%	-0.8	1.3	15.4	15.4
ROA ROA%	-0.5	0.3	3.0	3.0
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	SHIVAUM	SHAHFOOD	NEUEON	YOGI	PROV	STCINDIA	HARDWYN
Market CapitalizationMkt CapCr	754	744	733	723	639	624	622
Close PriceClose₹	554.75	319.05	12.96	160.74	1,851.00	103.92	9.09
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	80.17	226.28		52.70	45.12	0.95	50.50
Price To SalesPS	1.25	186.90	63.34	1.82	0.69		3.25
RevenueRevenueCr	605	4	12	398	925	0	192
Revenue Growth TTMRev Gr TTM%			17.8%		59.0%		2.6%
PAT Growth TTMPAT Gr TTM%			-166.6%		92.7%	2,520.0%	-8.5%

	SHIVAUM	SHAHFOOD	NEUEON	YOGI	PROV	STCINDIA	HARDWYN
Market CapitalizationMkt CapCr	754	744	733	723	639	624	622
Close PriceClose₹	554.75	319.05	12.96	160.74	1,851.00	103.92	9.09
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	80.17	226.28		52.70	45.12	0.95	50.50
Price To SalesPS	1.25	186.90	63.34	1.82	0.69		3.25
RevenueRevenueCr	605	4	12	398	925	0	192
Revenue Growth TTMRev Gr TTM%			17.8%		59.0%		2.6%
PAT Growth TTMPAT Gr TTM%			-166.6%		92.7%	2,520.0%	-8.5%

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