Price
Financials
Standalone, Rs crore| Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 9.94 | 19.05 | 16.81 | 40.50 | 14.85 | 15.26 |
| Expenses | 12.34 | 13.23 | 18.06 | 34.22 | 18.00 | 15.25 |
| Operating Profit | -2.40 | 5.82 | -1.25 | 6.28 | -3.15 | 0.01 |
| OPM % | -24.14% | 30.55% | -7.44% | 15.51% | -21.21% | 0.07% |
| Other Income | 0.03 | 0.08 | 0.07 | 0.03 | 0.04 | 0.03 |
| Interest | 0.61 | 0.98 | 0.86 | 1.08 | 1.52 | 0.00 |
| Depreciation | 0.44 | 0.65 | 0.86 | 1.74 | 2.25 | 2.30 |
| Profit before tax | -3.42 | 4.27 | -2.90 | 3.49 | -6.88 | -2.26 |
| Tax % | -25.15% | 27.87% | -37.59% | 32.95% | 1.16% | 10.18% |
| Net Profit | -2.56 | 3.08 | -1.81 | 2.34 | -6.97 | -2.49 |
| EPS in Rs | -3.40 | 4.09 | -2.34 | 3.01 | -8.96 | -3.20 |
| Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 0.58 | 21.62 | 25.96 | 29.54 | 26.88 | 28.92 | 57.31 | 30.11 |
| Expenses | 0.49 | 20.33 | 24.05 | 26.62 | 22.38 | 25.42 | 52.07 | 33.18 |
| Operating Profit | 0.09 | 1.29 | 1.91 | 2.92 | 4.50 | 3.50 | 5.24 | -3.07 |
| OPM % | 15.52% | 5.97% | 7.36% | 9.88% | 16.74% | 12.10% | 9.14% | -10.20% |
| Other Income | 0.01 | 0.00 | 0.03 | 0.07 | 0.03 | 0.11 | 0.11 | 0.08 |
| Interest | 0.02 | 0.36 | 1.13 | 1.42 | 1.43 | 1.67 | 2.16 | 1.61 |
| Depreciation | 0.06 | 0.42 | 0.53 | 1.25 | 0.88 | 1.08 | 2.60 | 4.55 |
| Profit before tax | 0.02 | 0.51 | 0.28 | 0.32 | 2.22 | 0.86 | 0.59 | -9.15 |
| Tax % | 0.00% | 17.65% | 32.14% | 46.88% | 26.58% | 38.37% | 10.17% | 3.39% |
| Net Profit | 0.02 | 0.42 | 0.20 | 0.16 | 1.64 | 0.53 | 0.53 | -9.46 |
| EPS in Rs | 0.11 | 1.26 | 0.60 | 0.31 | 3.12 | 0.70 | 0.68 | -12.16 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 3% | 4% | -47% | ||
| Compounded Profit Growth | % | % | % | -1885% | ||
| Stock Price CAGR | % | % | -40% | -65% | ||
| Return on Equity | % | -11% | -17% | -53% |
| Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1.85 | 3.32 | 3.32 | 5.17 | 5.25 | 7.53 | 7.78 | 7.78 |
| Reserves | 0.02 | -0.39 | 1.31 | 1.19 | 1.64 | 9.40 | 14.86 | 5.40 |
| Borrowings | 1.47 | 4.01 | 14.12 | 11.13 | 13.50 | 13.93 | 26.85 | 38.13 |
| Other Liabilities | 0.53 | 9.84 | 12.66 | 9.02 | 7.14 | 9.06 | 23.96 | 13.38 |
| Total Liabilities | 3.87 | 16.78 | 31.41 | 26.51 | 27.53 | 39.92 | 73.45 | 64.69 |
| Fixed Assets | 1.89 | 2.70 | 4.95 | 5.59 | 4.42 | 6.03 | 23.76 | 23.81 |
| CWIP | 0.00 | 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 | 0.00 |
| Other Assets | 1.98 | 14.08 | 26.46 | 20.92 | 23.11 | 33.89 | 49.69 | 40.88 |
| Total Assets | 3.87 | 16.78 | 31.41 | 26.51 | 27.53 | 39.92 | 73.45 | 64.69 |
| Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -0.53 | 1.45 | -1.71 | 4.90 | -0.16 | -5.99 | 4.57 | -5.24 |
| Cash from Investing Activity | -2.00 | -1.16 | -3.47 | -0.38 | -0.94 | -2.63 | -20.29 | -4.53 |
| Cash from Financing Activity | 2.57 | -0.24 | 5.49 | -4.28 | 1.44 | 8.70 | 16.16 | 9.86 |
| Net Cash Flow | 0.03 | 0.05 | 0.31 | 0.24 | 0.34 | 0.08 | 0.44 | 0.10 |
| Free Cash Flow | -2.47 | 0.29 | -5.18 | 4.52 | -1.12 | -8.69 | -15.77 | -9.84 |
| CFO/OP | -589% | 118% | -85% | 173% | 9% | -171% | 91% | 171% |
| Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 144.74 | 88.13 | 124.43 | 83.65 | 72.24 | 104.12 | 0.00 | 0.00 |
| Inventory Days | 676.59 | 138.73 | 242.59 | 211.46 | 337.04 | 351.56 | 252.52 | 396.19 |
| Days Payable | 445.12 | 126.76 | 148.43 | 108.36 | 109.73 | 139.70 | 192.08 | 196.67 |
| Cash Conversion Cycle | 376.20 | 100.10 | 218.59 | 186.75 | 299.54 | 315.98 | 60.44 | 199.52 |
| Working Capital Days | 402.76 | 37.65 | 69.74 | 45.10 | 46.85 | 147.67 | -19.74 | -75.52 |
| ROCE % | 10.82% | 9.60% | 19.27% | 9.87% | 6.85% | -14.96% |
| Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Promoters | 69.74% | 69.74% | 70.52% | 70.05% | 69.85% | 70.05% |
| FIIs | 5.47% | 5.47% | 5.33% | 5.30% | 5.33% | 5.30% |
| Public | 24.78% | 24.78% | 24.15% | 24.65% | 24.81% | 24.66% |
| No. of Shareholders | 209 | 236 | 372 | 523 | 487 | 441 |
Fundamentals
Market Cap₹ 26.1 Cr.
Current Price₹ 33.5
Book Value₹ 16.9
ROCE-15.0 %
ROE-52.8 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-47%
Compounded Profit Growth (TTM)-1885%
Standalone figures.
Valuation
Market capRs 22 Cr
Enterprise valueRs 35 Cr
P/E (TTM)40.91x
Price to book1.28x
Price to sales0.75x
EV / EBITDA9.68x
EV / EBIT13.81x
EV / sales1.21x
Earnings yield2.44%
P/E, 3-year average109.88x
P/B, 3-year average3.44x
P/E, 5-year average109.88x
P/B, 5-year average3.44x
Profitability
Operating margin (excl. other income)12.10%
Operating margin (incl. other income)12.48%
EBITDA margin12.48%
Pre-tax margin2.97%
Net profit margin1.83%
ROE4.45%
ROCE9.87%
ROA1.57%
ROE, 3-year average10.71%
ROCE, 3-year average12.92%
ROA, 3-year average2.73%
ROE, 5-year average10.98%
ROCE, 5-year average13.33%
ROA, 5-year average2.62%
ROIC (approx.)5.17%
Tax rate38.37%
Other income / net worth0.65%
Growth
Sales growth (latest year)7.59%
Profit growth (latest year)-67.68%
Sales CAGR, 3 years3.66%
Sales CAGR, 5 years118.55%
Profit CAGR, 3 years38.38%
Profit CAGR, 5 years92.60%
Per share
EPS (TTM)Rs 0.70
EPS (latest year)Rs 0.70
EPS, 3-year averageRs 1.38
EPS, 5-year averageRs 1.20
Book value per shareRs 22.49
Sales per shareRs 38.41
Cash flow per shareRs -7.96
Free cash flow per shareRs -13.07
Efficiency
Asset turnover0.72x
Fixed asset turnover4.80x
Inventory turnover1.09x
Inventory days335 days
Debtor days104 days
Debtors turnover3.51x
Creditor days197 days
Cash conversion cycle200 days
Working capital days-76 days
Leverage
Total debtRs 14 Cr
Cash and bankRs 1 Cr
Net debtRs 13 Cr
Debt to equity0.82x
Net debt / EBITDA3.67x
Interest coverage1.51x
Owners' fund to total sources42.41%
Debt to assets34.89%
Cash flow
Cash from Operating Activity (latest year)Rs -6 Cr
Cash from Investing Activity (latest year)Rs -3 Cr
Cash from Financing Activity (latest year)Rs 9 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -10 Cr
FCFE (approx.: FCF + change in debt)Rs -9 Cr
Statement figures
Net sales (TTM)Rs 29 Cr
Net sales (latest year)Rs 29 Cr
Operating profit excl. other income (latest year)Rs 4 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 4 Cr
PBDT (TTM)Rs 2 Cr
Profit before tax (TTM)Rs 1 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 1 Cr
Net profit (latest year)Rs 1 Cr
Depreciation (TTM)Rs 1 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 21 Cr
Total expenditure (latest year)Rs 25 Cr
Total income (latest year)Rs 29 Cr
Share capitalRs 8 Cr
ReservesRs 9 Cr
Shareholders' fundsRs 17 Cr
Total assetsRs 40 Cr
Net blockRs 6 Cr
ReceivablesRs 8 Cr
InventoryRs 19 Cr
Other liabilitiesRs 9 Cr
Shares outstanding (crore)0.75
Ownership
Promoter holding70.05% (+0.31 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 1.28 is at the 2th percentile (median 11.10).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 543921 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -17.7% | -2.8% | -14.9 pts |
| 1 month | -32.2% | -6.8% | -25.4 pts |
| 3 months | -15.5% | -7.6% | -7.9 pts |
| 3 years | -81.7% | +14.2% | -95.8 pts |
Red flags
F-score 2 of 8| explain | Weak cash conversion Cash from operations was -54% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 16% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 55% vs sales +8% in 2026 |
| explain | Share dilution Share count up 42% in a year, 127% in three |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Mar 2026Sales ₹15 Cr -19.9% vs Mar 2024.
Net loss ₹2 Cr.
Activity
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Comrade Appliances Ltd?
Comrade Appliances Ltd (543921) has a market capitalisation of Rs 26.1 Cr. at the 2026-10-01 close.
What were Comrade Appliances Ltd's latest quarterly results?
In the Mar 2026 quarter, Comrade Appliances Ltd sales was Rs 15 Cr (-19.9% vs Mar 2024) with a net loss of Rs 2 Cr.