E-Wha Foam - 2026 Company Profile, Team & Financials

About E-Wha Foam

E-Wha Foam is a publicly listed company based in Mumbai (India). Foam products are manufactured and distributed in India. Its chief executive, as recorded, is Navinchandra Shah. Its Indian entity Blue Pearl Agriventures Limited reported revenue of ₹50.00 Cr.

Company details

E-Wha Foam is headquartered in Mumbai, India, within the foam manufacturing sector. Operations are centered on producing foam materials for industrial applications. Leadership is shared by Co-CEOs Navinchandra Shah and Nijal N Shah, with the former holding DIN 05178793 and PAN AACPS0647R. The companys online presence is maintained via ewhafoamindia.com. Details on founding year and specific services are not disclosed in available records.

Headquarters Mumbai, India
Stage Public
Website ewhafoamindia.com
Legal Name Blue Pearl Texspin Ltd
Date of Incorporation 06 Nov, 1992
Jurisdiction Mumbai, Maharashtra, India

Key Metrics

Market Cap
₹473 Cr
BPAGRI · BSE
Share Price
₹7.50
-4.46% today
Revenue
₹50.00 Cr
FY 2025-26 · +41.5% YoY
EBITDA
₹1.37 Cr
Margin 2.7%
Net Profit
₹1.02 Cr
FY 2025-26 · +56.9% YoY
P/E (TTM)
438.1x
P/B 7.5x
ROE
1.7%
ROCE 2.2%

Associated legal entities of E-Wha Foam

E-Wha Foam operates through Blue Pearl Agriventures Limited, a listed company (active). Its filings, financials, charges and directors are on the company page.

Legal entity	Status	Incorporated	Registered in	Revenue (FY 2026)	Employees	Directors	Company page
Blue Pearl Agriventures Limited Listed CIN L46209MH1992PLC069447	Active	06 Nov 1992	Mumbai, Maharashtra	₹50.0 Cr		6	View details

Board of directors of Blue Pearl Agriventures Limited (E-Wha Foam)

Blue Pearl Agriventures Limited is the primary company behind E-Wha Foam. The board of Blue Pearl Agriventures Limited currently have 5 directors; the longest-serving is Rishikumar Hanumanprasad Gosai, appointed in 2024. 30 earlier directors have ceased.

Director	Designation	Appointed	Tenure	Entity
Rishikumar Hanumanprasad Gosai DIN 10218840	Managing Director	12 Mar 2024	2 yrs 8 mo	Blue Pearl Agriventures Limited
Anupma Kashyap DIN 09720124	Director	30 Apr 2024	2 yrs 6 mo	Blue Pearl Agriventures Limited
Renu Kaur DIN 10080402	Director	24 May 2024	2 yrs 5 mo	Blue Pearl Agriventures Limited
Samir Jikarbhai Godil DIN 10740750	Director	14 Aug 2024	2 yrs 3 mo	Blue Pearl Agriventures Limited
Ritu Tiwari DIN 11040362	Director	22 Apr 2025	1 yr 6 mo	Blue Pearl Agriventures Limited

People of E-Wha Foam

2 people are tracked at E-Wha Foam (2 in leadership).

Name	Role	Group
Navinchandra Shah	Co-CEO	Leadership
Nijal N Shah	Co-CEO	Leadership

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Full employee list
Team structure
Board tenure
Professional contacts

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IPO & Listings of E-Wha Foam

E-Wha Foam is a publicly listed company on the BSE with ticker symbol BPAGRI in India, operating in the Trading sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

Listed onBSE: BPAGRI
Listed entityBlue Pearl Agriventures Limited
Exchange sectorTrading

Financials of E-Wha Foam

Exchange-reported figures of Blue Pearl Agriventures Limited, the listed company behind E-Wha Foam (BSE: BPAGRI).

Financial Highlights

FY 2025-26 · Standalone

Revenue

₹50.00 Cr

+41.5% YoY

EBITDA

₹1.37 Cr

+75.6% YoY

Profit After Tax

₹1.02 Cr

+56.9% YoY

Net Worth

₹61.50 Cr

+1.7% YoY

Total Assets

₹61.53 Cr

+1.7% YoY

Total Debt

₹0.04 Cr

0.0% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

Metrics	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Income statement
Revenue	50.00	35.33	0.26	0.22	0.21	0.25	0.23
Revenue growth	+41.5%	-	+18.2%	+4.8%	-16.0%	+8.7%	-
EBITDA	1.37	0.78	(0.07)	(0.01)	(0.03)	(0.01)	0.01
EBITDA margin	+2.7%	+2.2%	-26.9%	-4.6%	-14.3%	-4.0%	+4.4%
Profit before tax	1.36	0.78	(0.07)	(0.01)	(0.03)	(0.01)	0.01
Net profit	1.02	0.65	(0.07)	(0.01)	(0.03)	(0.01)	0.01
Net profit margin	+2.0%	+1.8%	-26.9%	-4.6%	-14.3%	-4.0%	+4.4%
EPS (₹)	0.02	0.01	(2.68)	(0.28)	(0.92)	0.07	0.04
Balance sheet
Total assets	61.53	60.50	0.22	0.19	0.15	0.14	0.14
Net worth	61.50	60.46	(0.18)	(0.11)	(0.11)	(0.08)	(0.08)
Total debt	0.04	0.04	0.41	0.31	0.26	0.23	0.23
Cash & bank	0.33	0.37	0.39	0.09	0.08	0.04	0.09
Net working capital	61.44	60.45	0.20	0.17	0.14	0.13	0.14
Cash flow
Cash from operations	(0.04)	(59.99)	0.20	(0.05)	0.01	(0.05)	(0.02)
Cash from investing	0.00	(0.03)	0.00	0.00	0.00	0.00	0.00
Cash from financing	0.00	60.00	0.10	0.05	0.03	0.00	0.00

Particulars	Sep 2026	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024
Revenue	10.81	10.66	12.19	13.58	12.44	11.79	11.48	10.23
Revenue growth (YoY)	-13.1%	-9.6%	+6.2%	+32.8%	+66.8%	+91.4%	-	-
Other income	0.07	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total expenses	10.53	10.31	11.92	13.21	12.07	11.44	12.06	9.69
EBITDA	0.28	0.35	0.27	0.37	0.37	0.35	(0.58)	0.54
EBITDA margin	+2.6%	+3.3%	+2.2%	+2.7%	+3.0%	+3.0%	-5.1%	+5.3%
Depreciation	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.00
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	0.35	0.35	0.26	0.37	0.37	0.35	(0.58)	0.54
Tax	0.07	0.07	0.06	0.09	0.09	0.09	(0.24)	0.17

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 14 Nov 2026

Particulars	Sep 2026	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024
Revenue	10.81	10.66	12.19	13.58	12.44	11.79	11.48	10.23
Revenue growth (YoY)	-13.1%	-9.6%	+6.2%	+32.8%	+66.8%	+91.4%	-	-
Other income	0.07	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total expenses	10.53	10.31	11.92	13.21	12.07	11.44	12.06	9.69
EBITDA	0.28	0.35	0.27	0.37	0.37	0.35	(0.58)	0.54
EBITDA margin	+2.6%	+3.3%	+2.2%	+2.7%	+3.0%	+3.0%	-5.1%	+5.3%
Depreciation	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.00
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	0.35	0.35	0.26	0.37	0.37	0.35	(0.58)	0.54
Tax	0.07	0.07	0.06	0.09	0.09	0.09	(0.24)	0.17

Particulars	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Revenue	50.00	35.33	0.26	0.22	0.21	0.25	0.23
Revenue growth	+41.5%	-	+18.2%	+4.8%	-16.0%	+8.7%	-
Other income	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total expenses	48.63	34.55	0.33	0.23	0.24	0.26	0.22
Employee cost	0.00	0.08	0.03	0.02	0.02	0.02	0.01
EBITDA	1.37	0.78	(0.07)	(0.01)	(0.03)	(0.01)	0.01
EBITDA margin	+2.7%	+2.2%	-26.9%	-4.6%	-14.3%	-4.0%	+4.4%
Depreciation	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	1.36	0.78	(0.07)	(0.01)	(0.03)	(0.01)	0.01
Tax	0.34	0.13	0.00	0.00	0.00	0.00	0.00
Net profit	1.02	0.65	(0.07)	(0.01)	(0.03)	(0.01)	0.01
Net profit margin	+2.0%	+1.8%	-26.9%	-4.6%	-14.3%	-4.0%	+4.4%
EPS (₹)	0.02	0.01	(2.68)	(0.28)	(0.92)	0.07	0.04

Particulars	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Equity & liabilities
Share capital	60.26	60.26	0.26	0.26	0.26	0.26	0.26
Reserves & surplus	1.24	0.20	(0.44)	(0.37)	(0.37)	(0.34)	(0.34)
Shareholders' funds (net worth)	61.50	60.46	(0.18)	(0.11)	(0.11)	(0.08)	(0.08)
Secured loans	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Unsecured loans	0.04	0.04	0.41	0.31	0.26	0.23	0.23
Total debt	0.04	0.04	0.41	0.31	0.26	0.23	0.23
Total liabilities	61.53	60.50	0.22	0.19	0.15	0.14	0.14
Assets
Gross block	0.03	0.03	0.00	0.04	0.04	0.04	0.04
Net block	0.02	0.03	0.00	0.00	0.00	0.00	0.00
Capital work in progress	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventories	9.29	14.12	0.00	0.00	0.00	0.00	0.00
Sundry debtors	73.44	33.37	0.08	0.08	0.06	0.10	0.03
Cash & bank balances	0.33	0.37	0.39	0.09	0.08	0.04	0.09
Loans & advances	0.01	13.68	0.00	0.00	0.00	0.00	0.02
Total current assets	83.07	61.54	0.47	0.17	0.14	0.14	0.14
Total current liabilities	21.63	1.09	0.27	0.00	0.00	0.01	0.00
Net working capital	61.44	60.45	0.20	0.17	0.14	0.13	0.14
Total assets	61.53	60.50	0.22	0.19	0.15	0.14	0.14

Particulars	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Opening cash	0.37	0.39	0.09	0.08	0.04	0.09	0.11
Net cash from operating activities	(0.04)	(59.99)	0.20	(0.05)	0.01	(0.05)	(0.02)
Net cash from investing activities	0.00	(0.03)	0.00	0.00	0.00	0.00	0.00
Net cash from financing activities	0.00	60.00	0.10	0.05	0.03	0.00	0.00
Net change in cash	(0.04)	(0.02)	0.30	0.00	0.04	(0.05)	(0.02)
Closing cash	0.33	0.37	0.39	0.09	0.08	0.04	0.09

Particulars	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Growth
Sales growth	+41.5%	-	+18.2%	+4.8%	-16.0%	+8.7%	-
EBITDA growth	+75.6%	+1214.3%	-600.0%	+66.7%	-200.0%	-200.0%	-
PBT growth	+74.4%	+9998.0%	-600.0%	+66.7%	-200.0%	-	+9997.0%
Net income growth	+56.9%	+1028.6%	-600.0%	+66.7%	-200.0%	-200.0%	-
Revenue CAGR (3Y)	+510.3%	+452.1%	+1.3%	-1.5%	+9.5%	+13.7%	+8.5%
EBITDA CAGR (3Y)	-	-	+91.3%	-	-	-	-
Profitability & leverage
Net income margin	+2.0%	+1.8%	-26.9%	-4.6%	-14.3%	-4.0%	+4.4%
Return on capital employed	+2.3%	+2.5%	0.0%	0.0%	0.0%	0.0%	0.0%
Return on net worth	+1.7%	+2.1%	0.0%	0.0%	0.0%	0.0%	0.0%
Debt / equity	0.00	0.01	0.00	0.00	0.00	0.00	0.00
Long-term debt / equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest cover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency & per share
Fixed asset turnover	1,666.67	2,355.33	13.00	5.50	5.25	6.25	5.75
Inventory turnover	4.27	5.00	0.00	0.00	0.00	0.00	0.00
Debtors turnover	0.94	2.11	3.25	3.14	2.63	3.85	11.50
EPS (₹)	0.02	0.01	(2.68)	(0.28)	(0.92)	0.07	0.04
Dividend per share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per share (₹)	1.02	1.00	(7.22)	(4.54)	(4.26)	(3.34)	(3.43)

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Related news about E-Wha Foam

Blue Pearl Agriventures Approves Change In Designation Of Samir Jikarbhai Godil From Director To MD

Reuters • 2 months ago

Blue Pearl Agri Standalone September 2024 Net Sales at Rs 7.46 crore, up 7504.08% Y-o-Y

Moneycontrol • 1 year ago

Blue Pearl Texs Standalone June 2024 Net Sales at Rs 6.16 crore, up 6789.49% Y-o-Y

Moneycontrol • 2 years ago

Blue Pearl Texspin announces resignation of company secretary

Business-Standard • 7 years ago

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Frequently Asked Questions about E-Wha Foam

Where is E-Wha Foam located?

E-Wha Foam is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.

Who is the CEO of E-Wha Foam?

Navinchandra Shah is the CEO of E-Wha Foam, as recorded in our data.

What is the annual revenue of E-Wha Foam?

The primary company behind E-Wha Foam, Blue Pearl Agriventures Limited, reported revenue of ₹50.00 Cr for FY 2026, up 42% year on year.

What does E-Wha Foam do?

E-Wha Foam is headquartered in Mumbai, India, within the foam manufacturing sector. Operations are centered on producing foam materials for industrial applications. Leadership is shared by Co-CEOs Navinchandra Shah and Nijal N Shah, with the former holding DIN 05178793 and PAN AACPS0647R. The companys online presence is maintained via ewhafoamindia.com. Details on founding year and specific services are not disclosed in available records.

Is E-Wha Foam publicly traded?

Yes, E-Wha Foam is publicly traded on BSE under the ticker symbol BPAGRI.

Which legal entities are associated with E-Wha Foam?

E-Wha Foam operates through Blue Pearl Agriventures Limited.

Who are the directors of E-Wha Foam?

The legal entities of E-Wha Foam currently have 5 directors, including Rishikumar Hanumanprasad Gosai, Anupma Kashyap, Renu Kaur and others.