Lamosaic India Limited (LAMOSAIC)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Lamosaic India's revenue was ₹70.0 Cr (-1.4% year on year, +118.8% on the previous half-year), and net profit ₹-1.0 Cr (a smaller loss than a year earlier); the operating margin was -1.4%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹70.0 | -1.4% | +118.8% |
| Operating profit | ₹-1.0 | loss narrowed | to loss |
| Net profit | ₹-1.0 | loss narrowed | to loss |
| EPS (₹) | -1.04 | loss narrowed | to loss |
| Operating margin | -1.4% | — | — |
LAMOSAIC delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 90.1% of the LAMOSAIC shares traded on NSE were taken to delivery, against the stock's own 20-session average of 91.61%. That is close to its usual level. Turnover was only ₹29 lakh, so a handful of trades can move this figure. It closed at its lower price band (circuit) on 16 Oct, one of 12 band closes in about the last 20 sessions. 13 bulk or block deals were reported in LAMOSAIC in the last 60 days: ₹3 Cr bought and ₹3 Cr sold.
Delivery in the last 5 sessions: 92.9% · 100.0% · 94.1% · 99.6% · 90.1%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 15 Oct | Sell | Mizan Shakeel Mistry | ₹0.44 Cr | ₹48.90 | 89,400 | Bulk |
| 28 Sep | Sell | Nopea Capital Services Private Limited | ₹0.41 Cr | ₹50.67 | 81,000 | Bulk |
| 28 Sep | Buy | Yogesh Prasanlal Dagli | ₹0.40 Cr | ₹50.47 | 79,800 | Bulk |
| 28 Sep | Buy | Nrip Jain | ₹0.31 Cr | ₹50.88 | 60,600 | Bulk |
| 25 Sep | Sell | Nopea Capital Services Private Limited | ₹0.65 Cr | ₹50.00 | 129,000 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Lamosaic India Limited's Board has approved raising funds up to ₹4,987.06 Lakhs (~₹49.87 crore) via a Rights Issue of fully paid-up equity shares. Against the company's net worth of ₹79 crore, the fundraise represents ~63.1% of net worth, making it a highly material capital expansion. Alongside the fundraise, the Board approved the re-designation of Promoter Vinod Juthalal Visaria from Managing Director to Whole-Time Director for 3 years, and accepted resignations of directors Jay Manilal Chheda and Jitesh Khushalchand Mamaniya (who remains CFO).
- Board approved raising up to ₹4,987.06 Lakhs (~₹49.87 crore) through a Rights Issue
- Fundraise represents ~63.1% of the company's net worth (₹79 crore) and ~20.3% of TTM revenue (₹246 crore)
- Vinod Juthalal Visaria re-designated from Managing Director to Whole-Time Director for a period of 3 years
- Jay Manilal Chheda resigned as Non-Executive Director effective 25 September 2026
- Jitesh Khushalchand Mamaniya resigned as Director effective 25 September 2026 but continues as CFO
Lamosaic India Limited's Board has approved raising up to Rs 4,987.06 Lakhs (~Rs 49.87 Cr) via a rights issue of fully paid-up equity shares. Relative to the company's net worth of Rs 79 Cr, this proposed capital raise represents ~63% of net worth, making it a sizable corporate action. Additionally, the Board approved the re-designation of Promoter Vinod Juthalal Visaria from Managing Director to Whole-Time Director for 3 years, while Jay Manilal Chheda resigned as Non-Executive Director. Jitesh Khushalchand Mamaniya stepped down from the directorship to focus on his executive role as CFO, and Board committees were reconstituted.
- Approved rights issue to raise up to Rs 4,987.06 Lakhs (~Rs 49.87 Cr)
- Proposed fundraise equals ~63% of existing net worth of Rs 79 Cr and ~20% of TTM revenue of Rs 246 Cr
- Vinod Juthalal Visaria re-designated from Managing Director to Whole-Time Director for a term of 3 years
- Resignation of Jay Manilal Chheda and cessation of directorship of CFO Jitesh Mamaniya effective 25 September 2026
- Reconstitution of Audit and Stakeholders Relationship Committees completed
Lamosaic India Limited's Board has approved raising up to Rs 4,987.06 Lakhs (~Rs 49.87 Cr) via a rights issue of fully paid-up equity shares. Relative to the company's net worth of Rs 79 Cr, this proposed capital raise represents ~63% of net worth, making it a sizable corporate action. Additionally, the Board approved the re-designation of Promoter Vinod Juthalal Visaria from Managing Director to Whole-Time Director for 3 years, while Jay Manilal Chheda resigned as Non-Executive Director. Jitesh Khushalchand Mamaniya stepped down from the directorship to focus on his executive role as CFO, and Board committees were reconstituted.
- Approved rights issue to raise up to Rs 4,987.06 Lakhs (~Rs 49.87 Cr)
- Proposed fundraise equals ~63% of existing net worth of Rs 79 Cr and ~20% of TTM revenue of Rs 246 Cr
- Vinod Juthalal Visaria re-designated from Managing Director to Whole-Time Director for a term of 3 years
- Resignation of Jay Manilal Chheda and cessation of directorship of CFO Jitesh Mamaniya effective 25 September 2026
- Reconstitution of Audit and Stakeholders Relationship Committees completed
Lamosaic India Limited has scheduled a Board of Directors meeting on Friday, September 25, 2026, to evaluate fundraising proposals. The potential capital raise may occur via debt, debentures, preferential allotment, rights issue, or warrants. In accordance with SEBI insider trading regulations, the trading window for insiders has been closed effective September 22, 2026, and will reopen 48 hours after the board outcome is announced.
- Board meeting scheduled for Friday, September 25, 2026
- Fundraise options include debt, debentures, preferential allotment, rights issue, or warrants
- Trading window closed starting September 22, 2026
- Trading window to reopen 48 hours post-board outcome disclosure
Lamosaic India Limited received a notice from the National Stock Exchange of India (NSE) levying a penalty of Rs 30,000 plus 18% GST (total Rs 35,400) under Regulation 6(1) of SEBI LODR for a 30-day delay in appointing a qualified Company Secretary during the quarter ended June 30, 2026. The company stated that it has already appointed a qualified Company Secretary effective May 1, 2026, and will remit the fine within the prescribed period. The financial and operational impact is negligible compared to the company's TTM revenue of Rs 246 crore.
- NSE imposed a fine of Rs 30,000 plus GST (Rs 5,400) totaling Rs 35,400 for Regulation 6(1) non-compliance.
- Non-compliance was calculated for a period of 30 days at a daily penalty rate of Rs 1,000.
- The company appointed a Qualified Company Secretary with effect from May 1, 2026.
- Fine notice received via email on August 20, 2026 (Notice No. NSE/LIST-SOP/COMB/FINES/0933).
Financial Performance
Revenue Growth by Segment
Standalone revenue from operations grew 183.3% YoY to INR 143.49 Cr in FY25, up from INR 50.65 Cr in FY24. Growth was driven by both the Trading segment (decorative laminates, acrylic sheets, plywood) and the Manufacturing segment (flush doors).
Geographic Revenue Split
Not disclosed in available documents, though the company maintains a network across Vadodara, Ahmedabad, Nadiad, Anand, Indore, and Fatehnagar.
Profitability Margins
Net Profit Ratio declined significantly by 88.55%, falling from 15.09% in FY24 to 1.73% in FY25. This compression was primarily due to a 248% increase in total expenses, specifically a massive 846% jump in 'Other Expenses' to INR 10.35 Cr.
EBITDA Margin
EBITDA margin fell from 25.54% in FY24 to 4.78% in FY25, representing a core profitability decline of over 2,000 basis points YoY due to higher procurement and operational costs.
Capital Expenditure
The company raised INR 61.20 Cr through its IPO in FY25, with INR 35.00 Cr specifically allocated to meet incremental working capital requirements. Historical fixed asset depreciation grew 18.7% YoY to INR 0.39 Cr.
Credit Rating & Borrowing
Not disclosed in available documents; however, finance costs increased 37.6% YoY to INR 3.05 Cr, while the Debt-Equity ratio improved significantly from 1.16 to 0.09 following the IPO equity infusion.
Operational Drivers
Raw Materials
Key raw materials include timber, adhesives, acrylic sheets, and imported paper. Cost of materials consumed grew 86% YoY to INR 8.51 Cr, while purchase of stock-in-trade rose 191% to INR 125.48 Cr.
Import Sources
The company specifically identifies 'imported paper' as a critical raw material, though specific countries of origin are not listed in the provided documents.
Capacity Expansion
The company operates a manufacturing workshop at Chembur, Mumbai, for flush doors and customized door solutions. Specific installed capacity figures or planned expansion units are not disclosed.
Raw Material Costs
Raw material and stock-in-trade costs represent approximately 93% of total revenue in FY25, up from 94% in FY24. Procurement strategy focuses on supplier diversification to mitigate volatility in timber and adhesive prices.
Manufacturing Efficiency
The company aims to optimize manufacturing processes at its Chembur workshop to improve order fulfillment and cost efficiency as demand for engineered doors scales.
Logistics & Distribution
The company relies on a dealer-driven distribution model; distribution costs are impacted by rising transportation costs and supply chain disruptions.
Strategic Growth
Growth Strategy
Growth will be pursued through a hybrid model of trading and manufacturing, expanding the product range in decorative materials, increasing the customer base, and strengthening the manufacturing function for customized door solutions.
Products & Services
Flush doors, customized door solutions, decorative laminates, acrylic sheets, printed/base paper, and plywood.
Brand Portfolio
LAMOSAIC
New Products/Services
Focusing on expanding the range of customized door solutions and higher-margin decorative materials; specific revenue contribution percentages for new launches are not disclosed.
Market Expansion
Positioned to capitalize on demand for modular interiors and engineered wood products across residential and commercial real estate sectors.
External Factors
Industry Trends
The industry is growing due to urbanization and a preference for modular interiors. Future shifts include a move toward engineered wood products and increased competition from low-cost global manufacturers.
Competitive Landscape
Key competitors include organized national brands, unorganized regional manufacturers, and low-cost importers of decorative laminates.
Competitive Moat
Moat is based on a hybrid business model (trading plus manufacturing customization) and a diversified product portfolio. Sustainability is challenged by low-cost imports and pricing pressure from unorganized regional players.
Macro Economic Sensitivity
Highly sensitive to real estate activity, urbanization trends, and consumer spending on interior design.
Consumer Behavior
Shift toward demand for modular interiors and customized, ready-to-install door solutions.
Geopolitical Risks
Global trade and geopolitical tensions are cited as threats that could impact the supply chain for imported materials.
Regulatory & Governance
Industry Regulations
Operations are subject to government policies related to wood-based manufacturing and import/export restrictions on timber and paper.
Taxation Policy Impact
The effective tax rate for FY25 was approximately 27.6%. The company faces a significant issue regarding the non-payment of self-assessment tax.
Legal Contingencies
The company has not paid Self-Assessment Tax for AY 2024-25 amounting to INR 4.70 Cr as of March 31, 2025. Additionally, there is a Key Audit Matter regarding communications from the Directorate General of GST Intelligence (DGGI) concerning a potential contingent liability.
Risk Analysis
Key Uncertainties
The 92% drop in inventory turnover and 88% drop in net profit ratio represent significant operational uncertainties. The DGGI investigation and unpaid tax of INR 4.70 Cr pose regulatory risks.
Geographic Concentration Risk
Manufacturing is concentrated in Mumbai; the sales network is primarily focused on Western and Central India (Gujarat, Maharashtra, MP).
Third Party Dependencies
High dependency on a dealer-driven distribution model, which introduces credit risk and elongated receivable cycles.
Technology Obsolescence Risk
The company's accounting software lacks an audit trail (edit log) facility, which is a significant internal control deficiency.
Credit & Counterparty Risk
Trade receivables stood at INR 57.54 Cr as of March 31, 2025, with the turnover ratio slowing by 31% YoY to 3.77 times.
