THESL

Thinking Hats Entertainment Solutions Limited

Listed company · ISIN INE0SHE01019 · NSE ST · FV ₹10
Last price
₹16
+4.71%today
What this company does

Thinking Hats Entertainment Solutions Limited is a listed company. It booked ₹24 cr of revenue in its latest year (FY26) and kept 5.3% of sales as profit.

58out of 100
Equitytale Health Score
Mixed

Healthier than 58% of listed companies we score, on the 5 of 6 measures we could read for it. Each measure is ranked against the 2,334–2,885 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
45

At close. Not part of the score.

Profitability & returns41

How much profit it earns on the money it employs

Balance sheet30

How much it owes, and whether earnings cover the interest

Cash quality83

Whether reported profit actually arrives as cash

Valuation70

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Some things to watch
Strengths
✓ Makes a profit
✓ Promoters hold 57%
✓ No promoter shares pledged
Watch-outs
! Thin 5.3% net margin
! Low 7.4% return on equity
! Operating cash flow is negative

What if I invest in THESL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest full year + price
₹16▲ +4.71%
latest close · 2026-10-01
52-wk low ₹1333 sessions so far52-wk high ₹21
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio15.6Average
LowAverageHigh
P/B ratio1.16Moderate
Below bookModerateHigh
EV / EBITDA11.8Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity7.4%Weak
WeakFairStrong ▸15%
Return on capital7.6%Weak
WeakFairStrong
Net margin5.3%Decent
ThinDecentStrong
EBITDA margin10.2%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.65Moderate
LowModerateHigh ▸1
Interest cover3.1×Okay
RiskyOkayStrong ▸5×
Current ratio1.40Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹19 cr
Book value
₹13
EPS
₹1.00
latest full year
Net debt
₹9 cr
owes more than its cash
Enterprise value
₹28 cr
EBITDA
₹2 cr
latest full year
EBIT
₹2 cr
latest full year
Operating margin
10.2%
Return on assets
2.6%
Earnings yield
6.43%
P/S
0.83
Sales / share
₹18.8
Tax rate
23.3%
Face value
₹10
Shares
1.2 cr
Working capital
₹6 cr
Current assets
₹23 cr
Current liabilities
₹16 cr
Delivery %
75.3%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are from the latest full-year results; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-10-01.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
It earns about 13% on its capital — below the ~14% return we'd require to fund it — so a low price is likely justified, not a bargain.
Models span ₹15–₹17, midpoint ₹16

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · FY26 (consolidated)
Revenue from Operations₹24 cr
Other Income₹51.5 L
Total Income₹24 cr
Cost of Materials₹16 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹3 cr
Finance Costs₹78.2 L
Other Expenses₹2 cr
Total Expenses₹22 cr
Profit before Tax₹2 cr
Tax Expense₹37.8 L
Net Profit₹1 cr
Net margin on total income5.2%
Where the money goes · FY26
% of total income
Materials + stock-in-trade₹16 cr66.0%
Employee benefit expense₹3 cr12.9%
Finance costs₹78.2 L3.3%
Other expenses₹3 cr11.1%
Tax expense₹37.8 L1.6%
Profit for the period₹1 cr5.2%
Total income ₹24 cradds up to ₹100 ✓
Annual results · consolidated (₹ cr)
MetricFY25FY26
Revenue48 cr24 cr
Total income48 cr24 cr
Expenses43 cr22 cr
Profit before tax5 cr2 cr
Tax2 cr37.8 L
Net profit (owners' share)4 cr1 cr
Net margin (owners' share, on revenue)7.7%5.3%
EPS (₹)3.421.00
YoY (latest year): total income -50.3% · net profit -66.1%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹48 cr
Shareholder equity
₹17 cr
parent shareholders
Total debt
₹11 cr
Cash
₹2 cr
Cash flow · H1 FY25
Operating
₹-11 cr
Investing
₹-1 cr
Financing
₹13 cr
Who owns it · 2026-03-31
No pledge
Promoter
56.8%
Public
43.2%
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 30 Sep 2026
See the official result
1
To consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2026 and the Reports of the Board of Directors and the Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
4.88 L votes for, 0 against
2
To appoint a director in place of Mrs. Sana Warsi (DIN: 11155001), Non-Executive Non Indeoendent Director, who retires by rotation and being eligible, offers herself for re-appointment
Backed by 100% of shareholders other than promotersneeded 50%
4.88 L votes for, 0 against
3
Re-classifiaction of Mr. Gaurav Singhania, Mrs. Shruti Singhania and their relatives and entities forming part of the "Promoter and Promoter Group" Category into "Public" Category
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
4.88 L votes for, 0 against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 20 named members
owning 56.8% between them · as of 2026-03-31
RAJESH BHARDWAJ36.03%
SANA WARSI11.11%
GAURAV SINGHANIA .9.64%
RUCHI AGARWAL0.01%
SHRUTI SINGHANIA .0.01%
Aarav Singhaniano shares
Ashish Bhayanano shares
Atiya Warsino shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹15 cr raised in Oct 2024 by selling shares to the public

As of Mar 2025, the company says it has spent 100% of what it set aside, leaving ₹3 L still to be spent.

Prepayment or repayment of certain loans availed by our Company
100%
₹2 cr of ₹2 cr
Funding of working capital requirements of our Company
100%
₹8 cr of ₹8 cr
General corporate purposes
99%
₹3 cr of ₹3 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.