Mallcom (India) Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹557 Cr
- P/E
- 20.82
- ROE
- 9.88%
- PEG
- -3.38
- Price to sales
- 1.05
- Debt to equity
- 0.38
- 52W high / low
- ₹1,439 / ₹888
- Sales growth (5Y)
- 11.23%
- EBITDA margin
- 10.72%
- Net profit margin
- 5.65%
- Promoter holding
- 74.15%
- Sales (last year)
- ₹527 Cr
Established in 1983, Mallcom (India) Ltd. manufactures industrial safety products.[1]
Guidance scorecard · Q1 FY27 call
What Mallcom (India) Ltd's management guided
and where it ranks in Industrial Products
Industrial Products
RevenueQ1 FY27 call
10–20%- The company is hopeful to achieve around 10%-12% domestic revenue growth during the year, targeting a domestic revenue figure of approximately Rs. 600 crore.
- There is optimism towards balancing India and export revenues to a 50-50 mix by year-end.
- Price increases started in Q1 to offset raw material cost inflation; margins are expected to improve moving forward.
- Expansion of manufacturing capabilities, especially at the Sanand plant, aims to support volume increases.
- Growth levers include increasing manufacturing capacity, enlarging distribution networks, entering new geographies, and capitalizing on upcoming free trade agreements (e.g., with UK, EU, and potentially USA).
2 more points from Mallcom (India) Ltd's call on revenue
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MarginsQ1 FY27 call
Up 2%+See what Mallcom (India) Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- The company is continuing to invest in increasing capacity, specifically in machinery, as part of ongoing CAPEX plans (Shyam Agrawal, Page 15).
- Investment focus is on manufacturing capabilities, particularly at the Sanand plant, which has ramped up capacity and improved operational efficiency (Rohit Mall, Pages 14-15).
- The Sanand facility has expanded its production lines from two to three and started manufacturing helmets, foam caps, and nasal caps, with plans to increase capacity further.
- Investments were initially aimed largely at domestic and branded markets but also support export growth; securing larger contracts in exports is ongoing.
2 more points from Mallcom (India) Ltd's call on capex
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FundraisingQ1 FY27 call
See what Mallcom (India) Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- Mallcom has a strong pipeline of pending orders and inquiries, particularly from Europe including UK, Portugal, Spain, Turkey, Italy, Germany, France, Benelux, Nordics, East Europe, and Russia.
- Existing customers in UK are increasing purchases and adding new product categories.
- New customers have been won in UK, Southern Europe, Germany, East Europe, and Russia.
- Many prospective customers are awaiting the finalization of Free Trade Agreements (FTA) for duty-free shipments, impacting order placements.
- The company is actively marketing to potential customers while monitoring ongoing trade discussions.
- Orders from export markets such as LATAM and North America are being pursued, though the US market remains volatile.
2 more points from Mallcom (India) Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of Mallcom (India) Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Mallcom (India) Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 100 | 113 | 94 | 108 | 96 | 122 | 102 | 129 | 118 | 138 | 122 | 139 | 131 |
| Expenses + | 85 | 96 | 80 | 93 | 84 | 106 | 88 | 113 | 102 | 122 | 105 | 129 | 112 |
| Operating Profit | 14 | 17 | 14 | 15 | 12 | 16 | 14 | 16 | 15 | 15 | 18 | 10 | 19 |
| OPM % | 15% | 15% | 15% | 14% | 12% | 13% | 14% | 12% | 13% | 11% | 14% | 7% | 15% |
| Other Income + | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 26 | 0 | 0 | -0 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 |
| Depreciation | 2 | 2 | 2 | 3 | 3 | -1 | 2 | 2 | 2 | 3 | 2 | 3 | 3 |
| Profit before tax | 14 | 15 | 12 | 12 | 9 | 17 | 12 | 15 | 12 | 36 | 13 | 5 | 14 |
| Tax % | 21% | 34% | 26% | 26% | 22% | 30% | 26% | 30% | 26% | 17% | 27% | 26% | 27% |
| Net Profit + | 11 | 10 | 9 | 9 | 7 | 12 | 9 | 10 | 9 | 30 | 10 | 4 | 10 |
| EPS in Rs | 16.86 | 15.66 | 13.65 | 14.66 | 10.95 | 18.93 | 13.67 | 16.19 | 14.47 | 47.71 | 15.79 | 5.99 | 16.27 |
Financials of Mallcom (India) Ltd
Profit & Loss
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 222 | 268 | 275 | 253 | 247 | 301 | 288 | 317 | 357 | 411 | 421 | 487 | 530 |
| Expenses + | 208 | 250 | 253 | 232 | 225 | 269 | 256 | 275 | 308 | 352 | 363 | 426 | 468 |
| Operating Profit | 14 | 18 | 22 | 21 | 22 | 32 | 32 | 42 | 50 | 58 | 58 | 61 | 62 |
| OPM % | 6% | 7% | 8% | 8% | 9% | 11% | 11% | 13% | 14% | 14% | 14% | 12% | 12% |
| Other Income + | 0 | 1 | 1 | 3 | 1 | 0 | 2 | 3 | 3 | 3 | 4 | 29 | 26 |
| Interest | 4 | 3 | 3 | 3 | 4 | 4 | 3 | 2 | 2 | 2 | 4 | 6 | 9 |
| Depreciation | 3 | 5 | 6 | 5 | 5 | 6 | 6 | 6 | 8 | 8 | 8 | 10 | 11 |
| Profit before tax | 8 | 11 | 14 | 15 | 14 | 23 | 25 | 37 | 42 | 51 | 50 | 74 | 68 |
| Tax % | 34% | 36% | 33% | 34% | 38% | 34% | 25% | 24% | 26% | 27% | 27% | 23% | |
| Net Profit + | 5 | 7 | 9 | 10 | 8 | 15 | 19 | 28 | 32 | 37 | 36 | 57 | 54 |
| EPS in Rs | 7.90 | 10.87 | 15.03 | 16.15 | 13.54 | 24.02 | 30.26 | 45.30 | 52.28 | 59.20 | 58.21 | 92.04 | 85.76 |
| Dividend Payout % | 19% | 14% | 13% | 12% | 15% | 8% | 7% | 7% | 6% | 5% | 5% | 3% |
Financials of Mallcom (India) Ltd
Balance Sheet
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Reserves | 43 | 48 | 56 | 64 | 73 | 87 | 104 | 135 | 162 | 197 | 231 | 292 | 305 |
| Borrowings + | 66 | 60 | 65 | 53 | 51 | 49 | 36 | 57 | 53 | 91 | 93 | 116 | 115 |
| Other Liabilities + | 41 | 42 | 36 | 41 | 43 | 57 | 51 | 54 | 54 | 60 | 58 | 78 | 65 |
| Total Liabilities | 156 | 156 | 163 | 165 | 173 | 199 | 197 | 253 | 275 | 354 | 388 | 493 | 492 |
| Fixed Assets + | 32 | 33 | 42 | 43 | 44 | 46 | 43 | 52 | 63 | 107 | 124 | 129 | 218 |
| CWIP | 9 | 8 | 3 | 2 | 0 | 0 | 3 | 15 | 15 | 8 | 10 | 74 | 2 |
| Investments | 0 | 1 | 0 | 6 | 0 | 5 | 21 | 19 | 0 | 27 | 15 | 13 | 7 |
| Other Assets + | 115 | 114 | 119 | 114 | 129 | 147 | 130 | 167 | 197 | 212 | 239 | 277 | 265 |
| Total Assets | 156 | 156 | 163 | 165 | 173 | 199 | 197 | 253 | 275 | 354 | 388 | 493 | 492 |
Financials of Mallcom (India) Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -2 | 21 | 7 | 28 | 6 | 21 | 38 | 19 | 1 | 53 | 6 | 2 |
| Cash from Investing Activity + | -9 | -10 | -9 | -10 | 2 | -14 | -21 | -12 | -2 | -75 | -10 | -43 |
| Cash from Financing Activity + | 11 | -10 | 2 | -17 | -7 | -7 | -14 | 18 | -1 | 33 | -4 | 15 |
| Net Cash Flow | -0 | 1 | 0 | 0 | 0 | 1 | 2 | 25 | -2 | 11 | -8 | -26 |
| Free Cash Flow | -12 | 15 | -7 | 24 | 1 | 13 | 32 | -5 | -22 | 8 | -18 | -50 |
| CFO/OP | 1% | 138% | 52% | 160% | 46% | 87% | 140% | 25% | 27% | 113% | 34% | 30% |
Financials of Mallcom (India) Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 59 | 38 | 46 | 46 | 51 | 44 | 28 | 56 | 71 | 52 | 58 | 63 |
| Inventory Days | 89 | 98 | 92 | 95 | 143 | 136 | 164 | 120 | 140 | 147 | 181 | 212 |
| Days Payable | 49 | 50 | 32 | 44 | 52 | 77 | 74 | 76 | 69 | 71 | 67 | 85 |
| Cash Conversion Cycle | 100 | 85 | 106 | 98 | 142 | 102 | 118 | 99 | 142 | 128 | 172 | 190 |
| Working Capital Days | 36 | 32 | 35 | 29 | 51 | 48 | 50 | 37 | 76 | 26 | 56 | 58 |
| ROCE % | 11% | 12% | 14% | 14% | 14% | 20% | 18% | 22% | 20% | 21% | 17% | 14% |
Guidance history
How Mallcom (India) Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Up 2%+ | Planned | — | — |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | None planned | — |
| Q2 FY26 call → | 10–20% | Up 0–2% | Planned | — | Flat |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
13 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −37.4% | 15% |
| Last 6 months | −18.3% | 24% |
| Last 3 months | −9.1% | 48% |
The price is 47.4% below its all-time high of ₹1,696.05 (27 Dec 2024). Stocks more than 20% below their peak have their score halved, so 25 became 13.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Mallcom (India) Ltd: 0.4 × 15 + 0.4 × 24 + 0.2 × 48 = 25, halved to 13 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Mallcom (India) Ltd's management said in earlier quarters
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