Heads UP Ventures Limited (HEADSUP) AI Stock Analysis

Heads UP Ventures Limited

(NSE:HEADSUP)

Select Model

Rating:28Underperform

Price Target:INR 5.00▼(-14.24% Downside)

Action:reiterated

Date:09/06/26

Heads UP Ventures scores very low, driven primarily by severely distressed fundamentals: negative gross profit despite a large revenue jump in FY2026, persistent operating cash burn, and steady erosion of shareholders' equity from years of losses. The debt-free balance sheet removes leverage-related solvency risk but cannot offset the absence of profitability or cash generation. Technicals are unconvincing, with the price still below its 100- and 200-day averages and negative MACD, while a negative P/E and no dividend leave valuation unsupportive. This profile carries high risk and warrants extreme caution until evidence of an operational turnaround emerges.

Positive Factors

Revenue ExpansionThe sharp FY2026 revenue increase indicates materially greater business activity and customer demand than the prior year. If the higher sales base can be sustained and converted into positive margins, it could provide a foundation for improved operating leverage and future earnings capacity.

Negative Factors

Unprofitable OperationsThe revenue increase has not translated into sustainable operating profitability, as negative gross profit and renewed EBIT and EBITDA losses indicate weak economics beneath the top-line growth. Persistent losses can consume equity, restrict reinvestment, and delay the development of dependable earnings power.

Heads UP Ventures Limited (HEADSUP) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 124.77M
Dividend Yield: ―
Average Volume (3M): 3,809
Price to Earnings (P/E): -4.2
Beta (1Y): 0.42
Revenue Growth: -55.42%
EPS Growth: -165.19%
Country: India
Employees: 12
Sector: General
Sector Strength: 55
Industry: Apparel - Retail

Heads UP Ventures Limited Business Overview & Revenue Model

Company Description

Heads UP Ventures Limited currently has no substantial business operations. Historically, the company specialized in the design, retail, marketing, and distribution of men's and women's clothing and accessories, operating under the "Being Human" bran...

Heads UP Ventures Limited Financial Statement Overview

Summary

Financials are deeply distressed. The income statement (score 12) shows chronic unprofitability, with FY2026 revenue growth of 8.7x failing to translate into profit — gross profit was negative at ₹-5.3 million and EBIT at ₹-15.4 million, implying goods are sold below cost. Cash flow (score 10) is equally weak, with negative operating cash flow in FY2026 (₹-9.5 million), FY2024 and FY2023, and zero free cash flow, pointing to reliance on external funding. The balance sheet (score 38) is the only relative strength thanks to virtually zero debt, but stockholders' equity has eroded from ₹331.5 million in FY2021 to ₹153.3 million in FY2026 on accumulated losses, with deeply negative returns on equity. Overall, there is no clear path to profitability or self-funded operations.

Income Statement

12Very Negative

Balance Sheet

38Negative

Cash Flow

10Very Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	57.61M	172.63M	14.20M	6.28M	7.32M	9.73M
Gross Profit	-30.07M	-5.33M	14.20M	-26.49M	-486.00K	-2.29M
EBITDA	-26.88M	2.42M	7.76M	-42.63M	-92.19M	-48.39M
Net Income	-29.63M	-326.00K	13.94M	-43.18M	-96.55M	-53.60M
Balance Sheet
Total Assets	0	450.91M	182.64M	162.70M	214.96M	351.47M
Cash, Cash Equivalents and Short-Term Investments	10.33M	10.33M	22.87M	13.55M	23.46M	150.15M
Total Debt	0	0	66.00K	0	0	41.69M
Total Liabilities	-153.31M	297.60M	29.29M	23.29M	33.39M	73.70M
Stockholders Equity	153.31M	153.31M	153.35M	139.41M	181.57M	277.77M
Cash Flow
Free Cash Flow	-11.89M	0	944.00K	-11.62M	-96.18M	8.02M
Operating Cash Flow	-11.89M	-9.49M	944.00K	-11.35M	-94.62M	8.43M
Investing Cash Flow	-500.00K	0	8.38M	1.44M	14.54M	8.49M
Financing Cash Flow	0	-3.06M	0	0	-4.92M	-4.80M

Heads UP Ventures Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price5.83

Price Trends

50DMA6.55Negative

100DMA6.78Negative

200DMA7.22Negative

Market Momentum

MACD-0.26Positive

RSI45.04Neutral

STOCH41.99Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HEADSUP, the sentiment is Negative. The current price of 5.83 is below the 20-day moving average (MA) of 6.12, below the 50-day MA of 6.55, and below the 200-day MA of 7.22, indicating a bearish trend. The MACD of -0.26 indicates Positive momentum. The RSI at 45.04 is Neutral, neither overbought nor oversold. The STOCH value of 41.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HEADSUP.

Heads UP Ventures Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:HEADSUP against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:STYLEBAAZA	67Neutral	INR 26.76B	56.08	―	―	34.89%	174.22%
IN:GOCOLORS	60Neutral	INR 12.80B	24.28	―	―	-1.51%	-38.13%
IN:V2RETAIL	57Neutral	INR 54.31B	29.11	―	―	63.30%	117.94%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:MUFTI	54Neutral	INR 4.56B	10.58	―	2.87%	-2.74%	-33.54%
IN:INDTERRAIN	44Neutral	INR 1.46B	308.89	―	―	14.55%	―
IN:HEADSUP	28Underperform	INR 128.74M	-4.19	―	―	-55.42%	-165.19%

* General Sector Average

Performance Comparison

IN:HEADSUP and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:HEADSUP	Heads UP Ventures Limited	5.83	-4.94	-45.87%
IN:GOCOLORS	Go Fashion (India) Limited	243.35	-395.55	-61.91%
IN:INDTERRAIN	Indian Terrain Fashions Limited	28.90	-9.51	-24.76%
IN:MUFTI	Credo Brands Marketing Limited	69.78	-39.49	-36.14%
IN:STYLEBAAZA	Baazar Style Retail Limited	351.50	28.40	8.79%
IN:V2RETAIL	V2 Retail Limited	148.95	-100.56	-40.30%

Heads UP Ventures Limited Corporate Events

Heads UP Ventures Announces Resignations of Key Compliance and Independent Director Roles

Oct 7, 2026

Heads UP Ventures Limited has announced the resignation of Company Secretary and Compliance Officer Mrs. Dhruvi Patel, effective October 7, 2026, citing personal reasons for her departure. The change removes a key compliance executive, signalling the...

Heads UP Ventures Sees Exit of Company Secretary and Independent Director

Oct 7, 2026

Heads UP Ventures Limited has announced the resignation of Company Secretary and Compliance Officer Mrs. Dhruvi Patel, effective 7 October 2026, citing personal reasons for her departure. On the same date, Non-Executive Independent Director Mr. Abhis...

Heads UP Ventures Announces Trading Window Closure Ahead of Quarterly Results

Sep 28, 2026

Heads UP Ventures Limited has notified stock exchanges that its trading window will be closed to comply with SEBI (Prohibition of Insider Trading) Regulations, 2015 and the company’s internal code for handling unpublished price-sensitive inform...

Exchange Seeks Clarification from Heads UP Ventures on June 2026 Results

Sep 3, 2026

Heads UP Ventures Limited has received a query from the stock exchange seeking clarification for its quarter ended 30 June 2026 under Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements. The company’s response to this regu...

Heads UP Ventures Appoints New Company Secretary and Compliance Officer

Aug 10, 2026

Heads UP Ventures Limited has appointed Mrs. Dhruvi Patel as its new Company Secretary and Compliance Officer, effective 10 August 2026, following approval by the board of directors based on the nomination and remuneration committee’s recommend...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 06, 2026

Heads UP Ventures Limited AI Stock Analysis