String Metaverse Ltd
Incorporated in 1994, Bio Green Papers Ltd provides services of software development[1]
- Market Cap ₹ 3,225 Cr.
- Current Price ₹ 277
- High / Low ₹ 324 / 18.2
- Stock P/E 2,094
- Book Value ₹ 13.9
- Dividend Yield 0.00 %
- ROCE 0.34 %
- ROE 0.31 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Debtor days have improved from 91.5 to 44.6 days.
Cons
- Stock is trading at 19.9 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Earnings include an other income of Rs.1.56 Cr.
- Working capital days have increased from 103 days to 350 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Information Technology Information Technology IT - Services IT Enabled Services
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8.85 | 6.14 | 3.80 | 2.75 | 0.43 | 0.23 | 1.66 | 1.26 | 0.00 | 0.00 | 4.38 | 12.35 | 13.05 | |
| 7.52 | 4.93 | 2.88 | 1.86 | 1.06 | 2.14 | 2.01 | 1.40 | 3.01 | 0.84 | 2.69 | 10.63 | 9.80 | |
| Operating Profit | 1.33 | 1.21 | 0.92 | 0.89 | -0.63 | -1.91 | -0.35 | -0.14 | -3.01 | -0.84 | 1.69 | 1.72 | 3.25 |
| OPM % | 15.03% | 19.71% | 24.21% | 32.36% | -146.51% | -830.43% | -21.08% | -11.11% | 38.58% | 13.93% | 24.90% | ||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.94 | 0.11 | 0.00 | 0.00 | 0.19 | 0.85 | 1.56 | |
| Interest | 0.23 | 0.27 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 | 0.04 | 0.00 |
| Depreciation | 0.85 | 0.89 | 0.89 | 0.88 | 0.88 | 0.88 | 0.60 | 0.60 | 0.59 | 0.58 | 1.18 | 2.21 | 3.27 |
| Profit before tax | 0.25 | 0.05 | 0.03 | 0.01 | -1.51 | -2.79 | -0.01 | -0.63 | -3.60 | -1.42 | 0.66 | 0.32 | 1.54 |
| Tax % | 36.00% | 0.00% | 33.33% | 0.00% | 0.00% | -4.30% | -400.00% | -9.52% | -1.94% | -3.52% | 0.00% | 0.00% | |
| 0.17 | 0.04 | 0.02 | 0.01 | -1.51 | -2.66 | 0.03 | -0.57 | -3.53 | -1.36 | 0.66 | 0.32 | 1.54 | |
| EPS in Rs | 0.12 | 0.03 | 0.01 | 0.01 | -1.04 | -1.83 | 0.01 | -0.12 | -0.76 | -0.29 | 0.14 | 0.02 | 0.11 |
| 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% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 58% |
| 3 Years: | % |
| TTM: | 182% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 32% |
| 5 Years: | 21% |
| 3 Years: | % |
| TTM: | -72% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 62% |
| 5 Years: | 210% |
| 3 Years: | % |
| 1 Year: | 1495% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 0% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8.00 | 8.00 | 8.00 | 8.00 | 8.00 | 8.00 | 25.82 | 25.82 | 25.82 | 25.82 | 96.96 | 106.96 | 116.43 |
| Reserves | 32.41 | 32.45 | 32.47 | 29.08 | 27.57 | 21.72 | 21.75 | 21.18 | 17.65 | 10.30 | 0.66 | 4.77 | 45.71 |
| 4.24 | 4.28 | 4.39 | 4.39 | 4.39 | 3.08 | 2.00 | 3.37 | 3.31 | 3.88 | 0.31 | 0.20 | 0.14 | |
| 2.35 | 2.50 | 2.33 | 3.12 | 3.35 | 2.14 | 2.21 | 2.18 | 1.89 | 2.32 | 4.74 | 1.79 | 1.99 | |
| Total Liabilities | 47.00 | 47.23 | 47.19 | 44.59 | 43.31 | 34.94 | 51.78 | 52.55 | 48.67 | 42.32 | 102.67 | 113.72 | 164.27 |
| 18.10 | 17.21 | 16.32 | 15.47 | 14.59 | 13.80 | 13.21 | 12.61 | 12.02 | 10.86 | 40.67 | 47.97 | 56.25 | |
| CWIP | 9.89 | 9.15 | 10.69 | 10.69 | 10.69 | 10.69 | 10.69 | 10.69 | 10.56 | 10.56 | 0.00 | 4.28 | 5.49 |
| Investments | 2.49 | 2.49 | 2.49 | 2.49 | 2.49 | 0.00 | 17.81 | 17.81 | 17.81 | 17.81 | 36.03 | 41.79 | 72.13 |
| 16.52 | 18.38 | 17.69 | 15.94 | 15.54 | 10.45 | 10.07 | 11.44 | 8.28 | 3.09 | 25.97 | 19.68 | 30.40 | |
| Total Assets | 47.00 | 47.23 | 47.19 | 44.59 | 43.31 | 34.94 | 51.78 | 52.55 | 48.67 | 42.32 | 102.67 | 113.72 | 164.27 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.37 | 3.33 | 1.17 | 0.00 | -0.35 | -1.05 | 0.02 | -0.03 | -0.07 | 0.00 | 3.48 | -8.97 | |
| 2.03 | -0.74 | 1.53 | 0.00 | 0.00 | 2.40 | -17.83 | 0.00 | 0.12 | 0.00 | -32.12 | -18.79 | |
| -2.55 | -2.59 | -2.70 | 0.00 | 0.35 | -1.31 | 17.81 | 0.00 | -0.05 | 0.00 | 50.35 | 12.37 | |
| Net Cash Flow | -0.15 | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 | 0.01 | -0.03 | 0.00 | 0.00 | 21.71 | -15.40 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 234.26 | 447.63 | 732.88 | 799.02 | 5,483.49 | 5,173.48 | 875.12 | 1,517.94 | 138.33 | 44.63 | ||
| Inventory Days | 513.58 | 780.22 | 949.34 | 1,544.01 | 1,722.96 | 574.18 | 607.13 | 3,242.06 | 3,248.50 | |||
| Days Payable | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.13 | 0.00 | 0.00 | 219.00 | |||
| Cash Conversion Cycle | 747.84 | 1,227.85 | 1,682.22 | 2,343.03 | 7,206.45 | 5,745.53 | 875.12 | 2,125.07 | 138.33 | 44.63 | ||
| Working Capital Days | 376.14 | 646.18 | 978.78 | 1,007.40 | 5,823.02 | 9,299.57 | 1,453.40 | 1,981.43 | -143.33 | 349.93 | ||
| ROCE % | 1.10% | 0.72% | 0.07% | 0.02% | -3.71% | -7.67% | -2.31% | -1.26% | -7.41% | 2.07% | 0.34% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Acquisition
17h - String Metaverse formed two LLP SPVs on 14 Nov 2025; contributed INR 99,900 each.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 10 Nov
-
Fund Utilization Report
8 Nov - No deviation in utilization of ₹4,925.15 lakhs rights issue proceeds for quarter ended Sept 30, 2025.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
7 Nov - Q2 FY26 revenue ₹233.27 Cr; H1 ₹432.34 Cr; H1 PAT ₹39.93 Cr; $IDLE $50M+ trading volume.
- Announcement under Regulation 30 (LODR)-Investor Presentation 7 Nov
Business Overview:[1]
BGPL is a Web 3.0 enterprise. It integrates finance, games, and communities (metaverse)
into Web3. The company builds gaming communities, invests in Web 3.0 projects, and provides Liquidity & Market Making as a
service for digital assets.