Price
Financials
Standalone, Rs crore| Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 17.94 | 23.10 | 13.33 | 15.58 | 36.81 | 9.56 | 9.65 |
| Expenses | 11.28 | 13.31 | 14.69 | 15.17 | 35.85 | 9.50 | 10.50 |
| Operating Profit | 6.66 | 9.79 | -1.36 | 0.41 | 0.96 | 0.06 | -0.85 |
| OPM % | 37.12% | 42.38% | -10.20% | 2.63% | 2.61% | 0.63% | -8.81% |
| Other Income | 0.04 | 0.04 | 0.10 | 0.01 | 0.93 | 1.37 | 0.80 |
| Interest | 0.00 | 0.01 | 0.02 | 0.01 | 0.02 | 0.05 | 0.03 |
| Depreciation | 0.35 | 0.32 | 0.33 | 0.27 | 0.27 | 0.22 | 0.22 |
| Profit before tax | 6.35 | 9.50 | -1.61 | 0.14 | 1.60 | 1.16 | -0.30 |
| Tax % | 29.61% | 25.16% | -16.15% | 28.57% | 26.88% | 25.86% | -20.00% |
| Net Profit | 4.47 | 7.11 | -1.36 | 0.10 | 1.18 | 0.86 | -0.23 |
| EPS in Rs | 2.57 | 4.09 | -0.58 | 0.04 | 0.50 | 0.37 | -0.10 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 14.49 | 15.69 | 34.40 | 30.25 | 36.44 | 52.39 | 19.21 |
| Expenses | 14.81 | 17.24 | 23.00 | 18.55 | 27.55 | 50.83 | 20.01 |
| Operating Profit | -0.32 | -1.55 | 11.40 | 11.70 | 8.89 | 1.56 | -0.80 |
| OPM % | -2.21% | -9.88% | 33.14% | 38.68% | 24.40% | 2.98% | -4.16% |
| Other Income | 1.69 | 0.13 | 0.04 | 0.04 | 0.14 | 0.94 | 2.17 |
| Interest | 0.08 | 0.06 | 0.01 | 0.36 | 0.49 | 0.22 | 0.07 |
| Depreciation | 0.98 | 0.79 | 0.84 | 0.70 | 0.66 | 0.54 | 0.43 |
| Profit before tax | 0.31 | -2.27 | 10.59 | 10.68 | 7.88 | 1.74 | 0.87 |
| Tax % | 0.00% | -1.32% | 18.41% | 27.72% | 27.16% | 26.44% | 26.44% |
| Net Profit | 0.31 | -2.24 | 8.64 | 7.72 | 5.75 | 1.28 | 0.63 |
| EPS in Rs | 0.62 | -4.48 | 17.28 | 4.44 | 2.46 | 0.55 | 0.27 |
| Dividend Payout % | 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 | % | 4% | -14% | -63% | ||
| Compounded Profit Growth | % | 18% | -57% | -51% | ||
| Stock Price CAGR | % | % | % | -54% | ||
| Return on Equity | % | 12% | 4% | 1% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 5.00 | 5.00 | 5.00 | 17.40 | 23.40 | 23.40 | 23.40 |
| Reserves | -0.94 | -3.29 | 5.36 | 0.95 | 46.80 | 48.08 | 48.71 |
| Borrowings | 5.37 | 5.87 | 8.78 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Liabilities | 7.02 | 9.62 | 28.69 | 53.97 | 15.45 | 4.89 | 5.38 |
| Total Liabilities | 16.45 | 17.20 | 47.83 | 72.32 | 85.65 | 76.37 | 77.49 |
| Fixed Assets | 4.44 | 7.37 | 3.41 | 3.08 | 2.81 | 2.30 | 1.92 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 18.10 | 18.10 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 12.01 | 9.83 | 44.42 | 69.24 | 82.84 | 55.97 | 57.47 |
| Total Assets | 16.45 | 17.20 | 47.83 | 72.32 | 85.65 | 76.37 | 77.49 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 4.32 | 3.03 | 3.59 | -0.23 | -44.79 | 17.13 | -0.35 |
| Cash from Investing Activity | -0.65 | -3.67 | 3.16 | -0.33 | -1.06 | -16.40 | -0.12 |
| Cash from Financing Activity | -3.37 | 0.43 | 2.90 | -8.78 | 46.06 | -0.02 | -0.07 |
| Net Cash Flow | 0.30 | -0.21 | 9.65 | -9.35 | 0.21 | 0.71 | -0.54 |
| Free Cash Flow | 3.62 | -0.69 | 6.72 | -0.60 | -45.17 | -1.00 | -0.40 |
| CFO/OP | -1,350% | -195% | 31% | 16% | -471% | 1,233% | -48% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 100.76 | 130.04 | 42.02 | 80.48 | 42.17 | 144.70 | 405.09 |
| Inventory Days | 162.68 | 52.04 | 37.10 | 297.34 | 160.80 | 104.30 | 294.93 |
| Days Payable | 70.08 | 98.82 | 78.57 | 91.31 | 64.03 | 29.12 | 109.81 |
| Cash Conversion Cycle | 193.36 | 83.26 | 0.55 | 286.51 | 138.95 | 219.89 | 590.21 |
| Working Capital Days | 100.26 | -12.10 | 52.31 | 166.39 | 649.47 | 338.66 | 948.89 |
| ROCE % | -25.98% | 79.34% | 58.90% | 18.90% | 2.77% | 1.31% |
| Dec 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Promoters | 62.93% | 62.93% | 62.49% | 62.93% | 62.89% | 62.89% |
| FIIs | 0.00% | 0.03% | 0.03% | 0.03% | 0.00% | 0.00% |
| Public | 37.07% | 37.04% | 37.48% | 37.04% | 37.11% | 37.11% |
| No. of Shareholders | 3,872 | 4,090 | 3,715 | 3,459 | 3,422 | 3,281 |
Fundamentals
Market Cap₹ 42.2 Cr.
Current Price₹ 18.0
Stock P/E67.0
Book Value₹ 30.8
ROCE1.31 %
ROE0.88 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-63%
Compounded Profit Growth (TTM)-51%
Standalone figures.
Valuation
Market capRs 32 Cr
Enterprise valueRs 31 Cr
P/E (TTM)4.15x
Price to book1.74x
Price to sales1.06x
EV / EBITDA2.65x
EV / EBIT2.81x
EV / sales1.03x
Earnings yield24.11%
Profitability
Operating margin (excl. other income)38.68%
Operating margin (incl. other income)38.81%
EBITDA margin38.81%
Pre-tax margin35.31%
Net profit margin25.52%
ROE53.78%
ROCE58.90%
ROA12.85%
ROE, 3-year average39.77%
ROCE, 3-year average37.42%
ROA, 3-year average8.70%
ROIC (approx.)45.84%
Tax rate27.72%
Other income / net worth0.22%
Growth
Sales growth (latest year)-12.06%
Profit growth (latest year)-10.65%
Sales CAGR, 3 years27.81%
Profit CAGR, 3 years192.02%
Per share
EPS (TTM)Rs 4.44
EPS (latest year)Rs 4.44
EPS, 3-year averageRs 5.75
Book value per shareRs 10.55
Sales per shareRs 17.39
Cash flow per shareRs -0.13
Free cash flow per shareRs -0.23
Efficiency
Asset turnover0.42x
Fixed asset turnover9.82x
Inventory turnover1.32x
Inventory days276 days
Debtor days80 days
Debtors turnover4.54x
Creditor days110 days
Cash conversion cycle590 days
Working capital days949 days
Leverage
Cash and bankRs 1 Cr
Net debtRs -1 Cr
Net debt / EBITDA-0.08x
Interest coverage30.67x
Owners' fund to total sources25.37%
Cash flow
Cash from Operating Activity (latest year)Rs -0 Cr
Cash from Investing Activity (latest year)Rs -0 Cr
Cash from Financing Activity (latest year)Rs -9 Cr
Net Cash Flow (latest year)Rs -9 Cr
Free cash flow (latest year)Rs -0 Cr
Cash from ops / profit, 5 years-1.03x
Statement figures
Net sales (TTM)Rs 30 Cr
Net sales (latest year)Rs 30 Cr
Operating profit excl. other income (latest year)Rs 12 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 12 Cr
PBDT (TTM)Rs 11 Cr
Profit before tax (TTM)Rs 11 Cr
Tax (latest year)Rs 3 Cr
Net profit (TTM)Rs 8 Cr
Net profit (latest year)Rs 8 Cr
Depreciation (TTM)Rs 1 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 17 Cr
Total expenditure (latest year)Rs 19 Cr
Total income (latest year)Rs 30 Cr
Share capitalRs 17 Cr
ReservesRs 1 Cr
Shareholders' fundsRs 18 Cr
Total assetsRs 72 Cr
Net blockRs 3 Cr
ReceivablesRs 7 Cr
InventoryRs 13 Cr
Other liabilitiesRs 54 Cr
Shares outstanding (crore)1.74
Ownership
Promoter holding62.89% (-0.04 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 1.74 is the lowest in 2.9 years (median 29.97).
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 | EFORCE | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.1% | -2.8% | +0.7 pts |
| 1 month | -14.0% | -6.8% | -7.2 pts |
| 3 months | -14.8% | -7.6% | -7.2 pts |
| 6 months | -6.6% | +0.4% | -7.0 pts |
| 1 year | -52.5% | -9.9% | -42.5 pts |
| 2 years | -75.5% | -13.6% | -61.9 pts |
Red flags
F-score 3 of 8| explain | Weak cash conversion Cash from operations was 45% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 11% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 68% vs sales -12% in 2026 |
| explain | Share dilution Share count up 248% in a year, 248% in three |
| look | Inventory outrunning sales Inventory grew 523% vs sales -12% in 2026 |
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 ₹10 Cr -27.6% vs Mar 2024.
Net loss ₹0 Cr.
Against our estimate for Mar 2026: sales -83.6%, profit -120.3% in line.
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.
High low price variation greater than 150perc in previous 12 monthsLess than 100 unique PAN traded in previous 30 daysSME scrip is not regularly tradedScrip PE is greater than 50 (4 trailing quarters)
Quick answers
What is the market cap of Electro Force (India) Ltd?
Electro Force (India) Ltd (EFORCE) has a market capitalisation of Rs 42.2 Cr. at the 2026-10-01 close.
What is the P/E ratio of Electro Force (India) Ltd?
Electro Force (India) Ltd trades at a P/E of 67.0 on trailing twelve-month profit, at the 2026-10-01 close.
What were Electro Force (India) Ltd's latest quarterly results?
In the Mar 2026 quarter, Electro Force (India) Ltd sales was Rs 10 Cr (-27.6% vs Mar 2024) with a net loss of Rs 0 Cr.
What is the 52-week high and low of Electro Force (India) Ltd?
The 52-week high is Rs 47.00 and the 52-week low is Rs 16.15.