Fine-line Circuits Ltd.

About

Fine-Line Circuits Limited manufactures and sells printed circuit boards (PCBs) in India. The company offers on-board, high frequency microwave hybrid, multilayer cavity, flex and rigid flex, oversized/backplane, high copper, multilayer impedance controlled blind/buried, embedded passive component, and multilayer PCBs. It also provides equipment, including automated optical inspection, bonding, CNC equipment, plasma activation, electroless PTH and direct metallization, imaging, etching, P.I.S.M, and bare board testing equipment. The company also exports its products. Fine-Line Circuits Limited was incorporated in 1989 and is headquartered in Mumbai, India.

Key Metrics

as of Sep 2026

Market Cap32 Cr

P/E60.50

Div Yield0.00 %

Book Value₹19.00

52w High₹107.00

52w Low₹48.20

Face Value₹10.00

Quarterly Results

Rs. Crores · hover row for definition

Metric	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023
Sales	10.72	8.41	7.87	9.65	7.25	6.60	9.77	6.95	7.05	7.34	6.50	5.26	5.18
Expenses	10.27	7.94	7.44	9.30	6.93	6.37	9.37	6.70	6.76	7.03	6.09	5.09	5.03
Operating Profit	0.45	0.47	0.43	0.35	0.32	0.23	0.40	0.25	0.29	0.31	0.41	0.17	0.15
OPM %	4.20	5.59	5.46	3.63	4.41	3.48	4.09	3.60	4.11	4.22	6.31	3.23	2.90
Other Income	0.01	-0.35	0.00	0.00	0.00	0.01	0.00	0.00	0.00	0.01	0.00	0.03	0.03
Depreciation	0.17	0.21	0.20	0.19	0.17	0.16	0.16	0.15	0.14	0.15	0.14	0.14	0.14
Interest	0.12	0.11	0.11	0.09	0.09	0.09	0.13	0.06	0.07	0.07	0.07	0.14	0.15
Profit before tax	0.17	-0.20	0.12	0.07	0.06	-0.01	0.11	0.04	0.08	0.10	0.20	-0.08	-0.11
Tax %	5.88	-5.00	0.00	14.29	16.67	100.00	0.00	25.00	12.50	0.00	5.00	0.00	0.00
Net Profit	0.17	-0.19	0.12	0.07	0.06	-0.02	0.10	0.04	0.07	0.09	0.20	-0.07	-0.11
EPS in Rs	0.35	-0.40	0.25	0.15	0.12	-0.04	0.21	0.08	0.15	0.19	0.42	-0.15	-0.23

Profit & Loss

Annual · Rs. Crores

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Sales	33.18	30.37	24.28	27.46	30.06	22.66	26.70	31.54	28.31	25.52	25.29	23.68
Expenses	31.61	29.14	23.11	26.43	28.24	21.60	25.39	29.91	26.73	24.17	24.41	23.13
Operating Profit	1.57	1.23	1.17	1.03	1.82	1.06	1.31	1.63	1.58	1.35	0.88	0.55
OPM %	4.73	4.05	4.82	3.75	6.05	4.68	4.91	5.17	5.58	5.29	3.48	2.32
Other Income	-0.35	0.02	0.02	0.09	0.08	0.09	0.09	0.04	0.02	0.01	0.20	0.34
Interest	0.40	0.43	0.50	0.55	0.48	0.50	0.69	0.70	0.65	0.53	0.36	0.39
Depreciation	0.76	0.60	0.58	0.50	0.50	0.60	0.80	0.80	0.81	0.67	0.58	0.52
Profit before tax	0.06	0.22	0.11	0.07	0.92	0.05	-0.09	0.17	0.14	0.16	0.14	-0.02
Tax %	0.00	9.09	9.09	0.00	4.35	20.00	0.00	0.00	35.71	81.25	42.86	-500.00
Net Profit	0.07	0.20	0.11	0.07	0.88	0.05	-0.09	0.16	0.09	0.04	0.09	0.08
EPS in Rs	0.15	0.42	0.23	0.15	1.83	0.10	-0.19	0.33	0.19	0.08	0.19	0.17
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Balance Sheet

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Equity Capital	4.83	4.83	4.83	4.83	4.83	4.83	4.83	4.83	4.83	4.83	4.83	4.83
Reserves	4.31	3.99	3.72	3.69	3.50	2.66	2.51	2.43	2.19	2.07	2.02	1.94
Borrowings	7.47	5.80	6.03	6.32	3.63	4.03	5.82	6.48	4.56	3.35	3.03	1.55
Other Liabilities	5.13	3.23	3.37	3.65	4.16	3.46	3.29	4.52	4.69	3.97	4.48	4.36
Total Liabilities	21.74	17.85	17.95	18.49	16.12	14.98	16.45	18.26	16.27	14.22	14.36	12.68
Fixed Assets	3.45	3.30	2.84	2.83	2.67	2.60	2.84	3.28	3.57	3.86	2.98	3.16
CWIP	0.00	0.00	0.00	0.12	0.00	0.00	0.06	0.06	0.00	0.00	0.00	0.01
Investments	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.04	0.01	0.00	0.00	0.00
Other Assets	18.24	14.50	15.06	15.49	13.40	12.33	13.50	14.88	12.69	10.36	11.38	9.51
Total Assets	21.74	17.85	17.95	18.49	16.12	14.98	16.45	18.26	16.27	14.22	14.36	12.68

Cash Flows

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Cash from Operating Activity	0.06	1.89	-1.91	0.05	1.02	2.43	1.65	0.09	1.01	0.23	-0.20	0.57
Cash from Investing Activity	-1.50	-1.04	1.56	-2.69	-0.49	-0.15	-0.29	-0.53	-0.77	-1.30	-0.46	-0.82
Cash from Financing Activity	1.28	-0.59	-0.60	2.30	-0.83	-2.22	-1.22	1.38	0.77	-0.08	1.29	0.82
Net Cash Flow	-0.17	0.27	-0.96	-0.34	-0.30	0.06	0.13	0.94	1.01	-1.14	0.63	0.57
Free Cash Flow	-1.45	0.84	-2.44	-0.74	0.45	2.14	1.28	-0.45	0.21	-1.05	-0.68	-0.28
CFO/OP %	7.00	154.00	-165.00	4.00	57.00	233.00	128.00	7.00	64.00	18.00	-23.00	105.00

Ratios

Annual · Days / % — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Debtor Days	58.08	52.28	70.20	55.56	57.80	50.42	61.24	56.59	53.63	49.06	52.82	41.62
Inventory Days	233.18	225.74	329.87	193.43	154.05	242.11	209.57	177.14	204.91	229.95	204.59	193.69
Days Payable	117.49	85.29	116.33	65.57	84.77	101.80	85.06	93.53	113.02	96.86	128.25	145.27
Cash Conversion Cycle	173.78	192.73	283.74	183.42	127.08	190.73	185.75	140.20	145.53	182.14	129.16	90.04
Working Capital Days	68.64	70.67	65.54	18.48	38.73	30.93	28.02	28.01	44.22	52.63	49.94	54.26
ROCE %	5.25	4.45	4.49	4.70	11.93	4.46	4.39	6.87	7.33	6.95	3.52	0.77

Shareholding Pattern

% holding — latest first

Holder	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023
Promoters	33.40	33.40	33.40	33.40	33.40	33.40	33.40	33.40	33.40	33.40	33.40	33.40
Public	66.61	66.61	66.60	66.60	66.60	66.60	66.60	66.59	66.60	66.59	66.59	66.59
No. of Shareholders	10,703	10,504	10,528	10,439	10,316	10,320	10,331	10,360	10,382	10,485	10,494	10,583