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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials (FY2023)
Investment Thesis
Tiny NBFC listed on MSEI (Bloomberg: SNKRKM:IN), incorporated 1968 in West Bengal. Revenue barely ₹0.5 Cr — operations near-dormant at current scale. However net worth of ₹27 Cr suggests a largely asset-backed holding. Q3 FY2026 showed profit surge of +928%, though on an extremely low base. Essentially a micro-scale dormant-ish NBFC with intact capital.
Pros
Cons
Business Segments
NBFC — financial services / money lending
Revenue Model
The company generates revenue through wholesale trading margins — buying goods in bulk and reselling to distributors, retailers, or end-consumers. As a traditional Kolkata-based merchant house, revenue is driven by trading volumes and merchant relationships rather than manufacturing or value-added activities.
Detailed Analysis
Growth Plans
Potential pivot to organized distribution or e-commerce-enabled wholesale could revive business relevance
Strategic asset monetization or restructuring could unlock value for shareholders
Industry Tailwinds
Potential pivot to organized distribution or e-commerce-enabled wholesale could revive business relevance
Strategic asset monetization or restructuring could unlock value for shareholders
Recent Developments
Comparable Companies
Kolkata-based diversified trading and services company with wholesale activities
Frequently Asked Questions
About Sri Narayan Raj Kumar Merchants
Sri Narayan Rajkumar Merchants Limited is a Kolkata-based wholesale trading company incorporated in 1968, with CIN L51109WB1968PLC027338. The company is registered at Netaji Subhash Road, one of central Kolkata's principal commercial streets near the Howrah riverfront area — the heart of Kolkata's wholesale trading district. With over 56 years of operations, Sri Narayan Rajkumar Merchants has participated in Kolkata's extensive wholesale trade ecosystem. The company operates under NIC code 511 (wholesale on fee or contract basis), indicating it serves as an intermediary facilitating wholesale trade transactions across various product categories. Financially, the company has shown remarkably strong recent performance with net profit rising 927.59% in the December 2025 quarter — an extraordinary increase suggesting either a very low base effect, successful new trading activities, or the recognition of a one-time income event. The company has authorized capital of Rs 5.25 crore with paid-up capital of Rs 4.98 crore. The directors include Ritu Poddar, Gopal Gupta, Vishnu Kumar Sureka, Akhil Kumar Sureka, Geetika Gupta, Vinayak Sureka, and Nagendra Pratap Singh — a board mix reflecting Kolkata's Marwari business community that dominates the city's wholesale trade sector. The Sureka and Gupta family names are common in Kolkata's trading community.
Key Milestones
1968 — Incorporated as private limited company in West Bengal
Common questions about unlisted shares
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A principal desk for unlisted & pre-IPO shares — you transact with us, not a stranger.
You enquire
Takes 2 minutes
We source & quote
Typically within 1 business day
You accept the allocation
Quote valid for 3 days
You transfer the funds
Pay within 2 days of accepting
Shares reach your demat
Usually credited within 2–3 business days
Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Industry Headwinds
Continued decline of traditional wholesale trading models in the face of digital commerce
Risk of the company becoming dormant or shell-like given limited disclosed activity
Pure wholesale trading is being disrupted by organized retail, e-commerce platforms, and direct manufacturer-to-retailer models, reducing the relevance of traditional merchant intermediaries.
Source: Media Reports / Public Records
With a share price at face value (₹10) and no active market, investor exit options are extremely limited, making this a highly illiquid holding.
Source: Company Financial Filings
Very limited public financial disclosures mean investors have almost no visibility into the company's current revenues, profitability, or financial health.
Source: Media Reports / Public Records
Pure wholesale trading is being disrupted by organized retail, e-commerce platforms, and direct manufacturer-to-retailer models, reducing the relevance of traditional merchant intermediaries.
With a share price at face value (₹10) and no active market, investor exit options are extremely limited, making this a highly illiquid holding.
Very limited public financial disclosures mean investors have almost no visibility into the company's current revenues, profitability, or financial health.
Historic Kolkata-based trading conglomerate in comparable wholesale business
1994 — Converted to Public Limited Company
Listed on MSEI (Metropolitan Stock Exchange)