Recode Studios Ltd
- Market cap
- ₹ 450 Cr.
- P/E
- 40.2x
- P/B
- 23.68x
- 52-week range
- 171 – 477
- ROE
- 78%
- ROCE
- 74%
- Dividend yield
- 0.1%
- Debt / equity
- 0.31
- Sector
- Personal Products
- Industry
- Personal Care
- Listed on
- BSE SME
About
Recode Studios Limited is an India-based beauty and personal care company operating in the beauty, cosmetics and personal care segment in India. The Company’s business primarily involves the branding, procurement and distribution of beauty and personal care products under the Recode brand. It operates through an omnichannel distribution network, which comprises Company-Owned Company-Operated (COCO) retail stores, Franchisee-Owned Franchisee-Operated (FOFO) stores, third-party e-commerce platforms and its website and mobile application. It offers a diversified portfolio of products across make-up, skincare, body care and beauty accessories. Its portfolio includes face make-up products such as foundation, compact, concealer, primer, contour, blush, highlighter and setting or grip sprays; eye make-up products such as eyeliner, mascara, kajal, eye shadow, eyebrow pencils and glitter pigments; and lip make-up products including lipsticks, lip gloss, lip crayons, lip oil and lip liners.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Personal Care: 22 companies →Recode Studios Ltd against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)40.2 against a typical 33.9: pricier than most peers (1st = cheapest).13th of 22
- Share price, 3 months+80.2% against a typical −7.4%.1st of 19
- Size₹ 450 Cr. market value against a typical ₹ 188.1 Cr. (1st = largest).8th of 19
Financials
Standalone figures in ₹ crore.
| ₹ Cr. | Mar 2025 | Mar 2026 |
|---|---|---|
| Sales | 29 | 43 |
| Expenses | 25 | 32 |
| Operating Profit | 4 | 11 |
| OPM % | 12% | 25% |
| Other Income | 0 | 0 |
| Interest | 1 | 0 |
| Depreciation | 0 | 1 |
| Profit before tax | 3 | 10 |
| Tax % | 34% | 25% |
| Net Profit | 2 | 7 |
| EPS in Rs | 1,730.77 | 9.02 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- —
- 3 Years
- 53%
- TTM
- 67%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- 153%
- TTM
- 260%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- —
- 10 Years
- —
- 5 Years
- —
- 3 Years
- 54%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Recode Studios Ltd | ₹ 384.75 | ₹ 450 Cr. | 40.2x | 23.7x | 78% | — |
| Kalyan Jewellers India | ₹ 512.20 | ₹ 52,898 Cr. | 47.1x | 10.3x | 24.3% | 3.8% |
| Thangamayil Jewellery | ₹ 4,638.90 | ₹ 14,419 Cr. | 56.7x | 14.2x | 27.9% | 4.1% |
| Honasa Consumer | ₹ 431.40 | ₹ 14,045 Cr. | 72.1x | 10.4x | 15.5% | 8.4% |
| P N Gadgil Jewellers | ₹ 570.05 | ₹ 8,391 Cr. | 22.1x | 4.6x | — | 3.9% |
| Aditya Vision | ₹ 555.00 | ₹ 7,162 Cr. | 68.5x | 11.8x | 18.4% | 4.4% |
Management
- Dheeraj Bansal
- Executive Chairman of the Board, Managing Director
- Karan Bansal
- Chief Executive Officer, Whole Time Director
- Narinder Singh
- Chief Financial Officer
- Mukta Ahuja
- Compliance Officer, Company Secretary
- Shelly Bansal
- Whole Time Director
Prices are delayed and for information only. Nothing on this page is investment advice.