Price
Financials
Consolidated, Rs crore| Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1.75 | 7.20 | 7.01 | 12.70 | 22.16 | 22.73 | 18.85 | 19.11 | 20.99 | 16.35 | 14.29 | 19.53 |
| Expenses | 2.62 | 7.00 | 6.85 | 11.22 | 17.97 | 18.04 | 13.65 | 14.12 | 14.90 | 14.04 | 12.24 | 15.52 |
| Operating Profit | -0.87 | 0.20 | 0.16 | 1.48 | 4.19 | 4.69 | 5.20 | 4.99 | 6.09 | 2.31 | 2.05 | 4.01 |
| OPM % | -49.71% | 2.78% | 2.28% | 11.65% | 18.91% | 20.63% | 27.59% | 26.11% | 29.01% | 14.13% | 14.35% | 20.53% |
| Other Income | 0.13 | 0.79 | 0.39 | 0.20 | 0.52 | 0.56 | 0.71 | 0.81 | 0.68 | -2.61 | 0.74 | 0.60 |
| Interest | 0.01 | 0.03 | 0.02 | 0.02 | 0.03 | 0.03 | 0.02 | 0.01 | 0.02 | 0.00 | 0.02 | 0.01 |
| Depreciation | 0.28 | 0.28 | 0.24 | 0.27 | 0.40 | 0.31 | 0.36 | 0.35 | 0.29 | 0.40 | 0.34 | 0.46 |
| Profit before tax | -1.03 | 0.68 | 0.29 | 1.39 | 4.28 | 4.91 | 5.53 | 5.44 | 6.46 | -0.70 | 2.43 | 4.14 |
| Tax % | 3.88% | -10.29% | -3.45% | 27.34% | 28.97% | 24.64% | 26.04% | 22.98% | 25.70% | -10.00% | 26.34% | 30.92% |
| Net Profit | -1.07 | 0.74 | 0.30 | 1.01 | 3.04 | 3.71 | 4.09 | 4.19 | 4.80 | -0.63 | 1.78 | 2.86 |
| EPS in Rs | -0.49 | 0.34 | 0.14 | 0.46 | 1.39 | 1.70 | 1.88 | 1.92 | 2.20 | -0.29 | 0.82 | 1.31 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 11.77 | 12.98 | 13.76 | 18.04 | 24.00 | 31.18 | 8.95 | 19.71 | 44.89 | 38.82 | 50.81 | 45.38 |
| Expenses | 11.30 | 12.31 | 11.55 | 15.72 | 20.60 | 28.42 | 9.64 | 18.07 | 36.00 | 27.75 | 42.29 | 39.31 |
| Operating Profit | 0.47 | 0.67 | 2.21 | 2.32 | 3.40 | 2.76 | -0.69 | 1.64 | 8.89 | 11.07 | 8.52 | 6.07 |
| OPM % | 3.99% | 5.16% | 16.06% | 12.86% | 14.17% | 8.85% | -7.71% | 8.32% | 19.80% | 28.52% | 16.77% | 13.38% |
| Other Income | 0.13 | 0.10 | 0.30 | 0.50 | 0.80 | 0.69 | 0.92 | 0.59 | 1.08 | 0.67 | -1.99 | 1.34 |
| Interest | 0.24 | 0.21 | 0.19 | 0.25 | 0.21 | 0.07 | 0.03 | 0.04 | 0.06 | 0.06 | 0.08 | 0.05 |
| Depreciation | 0.19 | 0.20 | 0.19 | 0.22 | 0.41 | 0.57 | 0.55 | 0.51 | 0.71 | 0.71 | 0.69 | 0.80 |
| Profit before tax | 0.17 | 0.36 | 2.13 | 2.35 | 3.58 | 2.81 | -0.35 | 1.68 | 9.20 | 10.97 | 5.76 | 6.56 |
| Tax % | 94.12% | 13.89% | 37.56% | 30.64% | 31.01% | 23.49% | -8.57% | 81.55% | 26.63% | 24.61% | 27.43% | 29.27% |
| Net Profit | 0.01 | 0.30 | 1.34 | 1.62 | 2.46 | 2.14 | -0.32 | 0.31 | 6.74 | 8.28 | 4.17 | 4.64 |
| EPS in Rs | 0.02 | 0.75 | 0.84 | 0.74 | 1.12 | 0.98 | -0.15 | 0.14 | 3.09 | 3.80 | 1.91 | 2.13 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 5.55% | 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 | 13% | 38% | 0% | -11% | ||
| Compounded Profit Growth | 31% | 67% | -13% | -28% | ||
| Stock Price CAGR | % | 41% | -19% | -46% | ||
| Return on Equity | 20% | 21% | 21% | 13% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.50 | 0.50 | 2.00 | 2.73 | 2.73 | 5.45 | 5.45 | 5.45 | 10.90 | 10.90 | 21.81 | 21.81 |
| Reserves | 1.69 | 1.99 | 1.83 | 6.26 | 8.72 | 7.81 | 7.48 | 8.80 | 10.03 | 18.31 | 11.57 | 16.21 |
| Borrowings | 1.56 | 1.74 | 1.55 | 1.97 | 0.05 | 0.06 | 0.00 | 0.00 | 0.16 | 0.29 | 0.38 | 0.29 |
| Other Liabilities | 5.63 | 4.73 | 6.16 | 7.05 | 9.15 | 8.39 | 6.47 | 8.01 | 11.00 | 10.12 | 7.14 | 6.55 |
| Total Liabilities | 9.38 | 8.96 | 11.54 | 18.01 | 20.65 | 21.71 | 19.40 | 22.26 | 32.09 | 39.62 | 40.90 | 44.86 |
| Fixed Assets | 2.83 | 2.95 | 2.84 | 2.96 | 4.02 | 3.72 | 2.56 | 2.70 | 3.56 | 3.50 | 3.30 | 3.52 |
| CWIP | 0.04 | 0.04 | 0.06 | 0.38 | 0.37 | 0.23 | 0.59 | 0.30 | 0.69 | 1.02 | 1.14 | 0.19 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.90 | 0.90 | 0.91 | 0.91 |
| Other Assets | 6.51 | 5.97 | 8.64 | 14.67 | 16.26 | 17.76 | 16.25 | 19.26 | 26.94 | 34.20 | 35.55 | 40.24 |
| Total Assets | 9.38 | 8.96 | 11.54 | 18.01 | 20.65 | 21.71 | 19.40 | 22.26 | 32.09 | 39.62 | 40.90 | 44.86 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 1.10 | 0.40 | 0.31 | 0.61 | 0.04 | 2.29 | -1.40 | 1.86 | 0.60 | 4.66 | 2.96 | 6.42 |
| Cash from Investing Activity | -0.24 | -0.29 | -0.10 | -0.66 | -1.46 | -0.13 | 0.24 | -0.36 | -1.95 | -5.36 | -3.57 | -6.46 |
| Cash from Financing Activity | -0.88 | -0.06 | -0.19 | 3.35 | -0.20 | -0.38 | 0.00 | -0.04 | -0.38 | 0.12 | 0.07 | -0.13 |
| Net Cash Flow | -0.02 | 0.05 | 0.02 | 3.30 | -1.62 | 1.78 | -1.16 | 1.46 | -1.73 | -0.58 | -0.54 | -0.17 |
| Free Cash Flow | 0.86 | 0.11 | 0.21 | -0.05 | -1.42 | 2.16 | -1.16 | 1.50 | -1.35 | 3.67 | 2.30 | 6.48 |
| CFO/OP | 247% | 72% | 49% | 58% | 31% | 109% | 203% | 137% | 35% | 68% | 54% | 138% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 21.40 | 28.40 | 82.50 | 21.65 | 19.16 | 22.71 | 75.85 | 52.04 | 37.16 | 29.90 | 35.27 | 53.33 |
| Inventory Days | 260.14 | 198.14 | 318.57 | 323.90 | 365.00 | 204.00 | 650.38 | 286.74 | 208.51 | 369.86 | 364.23 | 345.37 |
| Days Payable | 46.41 | 42.24 | 96.43 | 72.37 | 126.16 | 88.17 | 268.47 | 141.94 | 73.29 | 108.94 | 58.70 | 64.58 |
| Cash Conversion Cycle | 235.13 | 184.31 | 304.64 | 273.17 | 258.00 | 138.54 | 457.77 | 196.83 | 172.38 | 290.81 | 340.81 | 334.12 |
| Working Capital Days | 85.59 | 88.58 | 76.93 | 78.10 | 72.39 | 64.85 | 316.06 | 145.19 | 120.26 | 170.94 | 123.34 | 119.12 |
| ROCE % | 10.34% | 14.04% | 48.28% | 31.82% | 33.75% | 23.21% | -3.05% | 12.73% | 52.41% | 43.41% | 27.44% | 17.95% |
| Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Oct 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 73.37% | 73.37% | 73.37% | 73.37% | 73.37% | 73.26% | 69.66% | 69.66% | 69.66% | 69.66% | 69.66% | 68.98% |
| FIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.48% | 0.48% | 0.48% | 0.48% | 0.39% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.48% | 0.53% | 0.28% |
| Public | 26.63% | 26.63% | 26.63% | 26.63% | 26.63% | 26.74% | 30.34% | 29.86% | 29.86% | 29.38% | 29.33% | 30.36% |
| No. of Shareholders | 150 | 151 | 140 | 131 | 144 | 275 | 519 | 682 | 719 | 780 | 685 | 617 |
Fundamentals
Market Cap₹ 46.2 Cr.
Current Price₹ 21.2
Stock P/E10.3
Book Value₹ 17.4
ROCE18.0 %
ROE12.5 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-11%
Compounded Profit Growth (TTM)-28%
Consolidated figures.
Valuation
Market capRs 47 Cr
Enterprise valueRs 32 Cr
P/E (TTM)10.18x
Price to book1.24x
Price to sales1.04x
EV / EBITDA4.30x
EV / EBIT4.82x
EV / sales0.70x
Price to cash flow7.35x
Earnings yield9.83%
P/E, 3-year average13.51x
P/B, 3-year average2.11x
P/E, 5-year average12.07x
P/B, 5-year average1.57x
Profitability
Operating margin (excl. other income)13.38%
Operating margin (incl. other income)16.33%
EBITDA margin16.33%
Pre-tax margin14.46%
Net profit margin10.22%
ROE13.00%
ROCE18.34%
ROA10.82%
ROE, 3-year average19.78%
ROCE, 3-year average26.80%
ROA, 3-year average14.76%
ROE, 5-year average19.99%
ROCE, 5-year average29.09%
ROA, 5-year average14.11%
ROIC (approx.)20.63%
Tax rate29.27%
Other income / net worth3.52%
Growth
Sales growth (latest year)-10.69%
Profit growth (latest year)11.27%
Sales CAGR, 3 years0.36%
Sales CAGR, 5 years38.36%
Profit CAGR, 3 years-11.70%
Per share
EPS (TTM)Rs 2.13
EPS (latest year)Rs 2.13
EPS, 3-year averageRs 3.88
EPS, 5-year averageRs 3.68
Book value per shareRs 17.43
Sales per shareRs 20.81
Cash flow per shareRs 2.94
Free cash flow per shareRs 2.97
Efficiency
Asset turnover1.01x
Fixed asset turnover12.89x
Inventory turnover1.25x
Inventory days292 days
Debtor days53 days
Debtors turnover6.84x
Creditor days65 days
Cash conversion cycle334 days
Working capital days119 days
Leverage
Total debtRs 0 Cr
Cash and bankRs 16 Cr
Net debtRs -15 Cr
Debt to equity0.01x
Net debt / EBITDA-2.07x
Interest coverage132.20x
Owners' fund to total sources84.75%
Debt to assets0.65%
Cash flow
Cash from Operating Activity (latest year)Rs 6 Cr
Cash from Investing Activity (latest year)Rs -6 Cr
Cash from Financing Activity (latest year)Rs -0 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs 6 Cr
FCFE (approx.: FCF + change in debt)Rs 6 Cr
Cash from ops / profit, 5 years0.68x
Sales to cash flow7.07x
Statement figures
Net sales (TTM)Rs 45 Cr
Net sales (latest year)Rs 45 Cr
Operating profit excl. other income (latest year)Rs 6 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 7 Cr
PBDT (TTM)Rs 7 Cr
Profit before tax (TTM)Rs 7 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 5 Cr
Net profit (latest year)Rs 5 Cr
Depreciation (TTM)Rs 1 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 15 Cr
Total expenditure (latest year)Rs 39 Cr
Total income (latest year)Rs 47 Cr
Share capitalRs 22 Cr
ReservesRs 16 Cr
Shareholders' fundsRs 38 Cr
Total assetsRs 45 Cr
Net blockRs 4 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 1 Cr
ReceivablesRs 7 Cr
InventoryRs 12 Cr
Other liabilitiesRs 7 Cr
Shares outstanding (crore)2.18
Ownership
Promoter holding68.98% (-0.68 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 10.2 is at the 5th percentile of its own 7.3-year range
(median 24.3, low 8.8, high 373.2).
P/B 1.24 is the lowest in 8.8 years (median 6.17).
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 | PULZ | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +0.7% | -2.8% | +3.5 pts |
| 1 month | -11.5% | -6.8% | -4.7 pts |
| 3 months | -11.1% | -7.6% | -3.5 pts |
| 6 months | -23.2% | +0.4% | -23.6 pts |
| 1 year | -51.4% | -9.9% | -41.5 pts |
| 2 years | -79.0% | -13.6% | -65.5 pts |
| 3 years | -72.7% | +14.2% | -86.9 pts |
| 5 years | +44.3% | +27.9% | +16.4 pts |
Red flags
F-score 6 of 8| explain | Receivables outrunning sales Receivables grew 35% vs sales -11% 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 ₹20 Cr +2.2% vs Mar 2024.
Net profit ₹3 Cr -31.7%.
Against our estimate for Mar 2026: sales +55.5%, profit +32.5% in line.
Activity
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| Universus Photo Imagings Ltd | 554 | -12.1 % | |
| Arham Technologies Ltd | 469 | 38.4 | 19.8 % |
| Focus Lighting & Fixtures Ltd | 385 | 62.8 | 6.55 % |
| Smaart Tech Services Ltd | 335 | -7,026 % | |
| Veto Switchgears & Cables Ltd | 279 | 10.2 | 11.6 % |
| Sonam Ltd | 274 | 30.4 | 14.1 % |
| BPL Ltd | 228 | 1.37 % | |
| Nitiraj Engineers Ltd | 221 | 92.2 | 1.17 % |
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.
Less than 100 unique PAN traded in previous 30 daysMandatory Market making period in SME scrip is overSME scrip is not regularly traded
Quick answers
What is the market cap of Pulz Electronics Ltd?
Pulz Electronics Ltd (PULZ) has a market capitalisation of Rs 46.2 Cr. at the 2026-09-29 close.
What is the P/E ratio of Pulz Electronics Ltd?
Pulz Electronics Ltd trades at a P/E of 10.3 on trailing twelve-month profit, at the 2026-09-29 close.
What were Pulz Electronics Ltd's latest quarterly results?
In the Mar 2026 quarter, Pulz Electronics Ltd sales was Rs 20 Cr (+2.2% vs Mar 2024) and net profit was Rs 3 Cr.
What is the 52-week high and low of Pulz Electronics Ltd?
The 52-week high is Rs 41.30 and the 52-week low is Rs 19.50.