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Comrade Appliances Ltd (543921)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543921 NSE: Consumer Durables - Domestic Appliances | Small Cap | Comrade Appliances Share Price

₹20.90 0.00 (0.00%)

As on 01-Jul'26 16:59

Comrade Appliances Ltd (543921)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543921 NSE: Consumer Durables - Domestic Appliances | Small Cap | Comrade Appliances Share Price

₹20.90 0.00 (0.00%)

As on 01-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹16 Cr.
Current Price
₹20.9
52-Week Low / High
₹21 / 112
TTM EPS
₹-12.2
TTM Sales
₹30.1 Cr.
Book Value per Share
₹26
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
52.3
Price to Book (P/B)
0.81
Lower than its 5-year historical median
Price to Sales (P/S)
0.54
Lower than its 5-year historical median
EV/EBITDA
-9.13
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
2.86%
Underperforms industry median
Return on Capital Employed (ROCE)
6.87%
Underperforms industry median
Return on Assets (ROA)
0.94%
Operating Profit Margin
9.2%
Net Profit Margin
0.93%
Gross Profit Margin
5.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
97.69%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
50.43%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
0%
Asset Quality
Promoter Holding
70.05%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹12 Cr.
Equity
₹7.8 Cr.
Face Value
₹10
All Time Low / High
₹20.54 / 174.90

Comrade Appliances stock performance

Key Ratios
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Check Before You Invest

Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Comrade Appliances Ltd a good quality company?
Comrade Appliances Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Comrade Appliances Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Comrade Appliances Ltd vs industry peers?
Comrade Appliances Ltd revenue CAGR is 21.53%, compared to the industry median CAGR of 10.02%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Comrade Appliances Ltd?
Promoters hold 70.05% of the Comrade Appliances Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Comrade Appliances Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -66.4% based on the current price.
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10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Comrade Appliances Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ12.6%11%11.6%20%9.8%6.9%-
Value Creation
Index ⓘ		-0.1-0.2-0.20.4-0.3-0.5-

Growth Parameters ⓘ
Sales ⓘ21.62629.7272957.330
Sales YoY Gr.-20.3%14%-9.1%7.5%97.7%-
Adj EPS ⓘ1.30.60.83.10.70.7-12.2
YoY Gr.--55.6%33.9%316%-77.6%-2.9%-
BVPS (₹) ⓘ8.87.39.713.122.52626
Adj Net
Profit ⓘ		0.40.20.41.60.50.5-9
Cash Flow from Ops. ⓘ1.5-1.74.5-0.2-64.6-
Debt/CF from Ops. ⓘ2.8-8.22.5-86.3-2.35.9-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNA21.5%24.6%97.7%
Adj EPS ⓘNA-11.6%-3.2%-2.9%
BVPSⓘNA24.1%38.8%15.4%
Share Price - - -40.5% -74.4%

Key Financial Parameters ⓘ

Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		14.34.9827.54.42.7-46.9
Op. Profit
Mgn % ⓘ		67.49.916.7129.2NAN
Net Profit
Mgn % ⓘ		1.90.71.36.11.80.9-31.4
Debt to
Equity ⓘ		1.45.82.220.81.3-
Working Cap
Days ⓘ		02822882923512600
Cash Conv.
Cycle ⓘ		01391501762161180

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales21.622629.6526.9628.9957.31
Operating Expenses ⓘ + 20.3324.0926.7122.4625.5052.07
Manufacturing Costs1.431.571.010.840.290.91
Material Costs16.9020.2621.4917.2319.8345.65
Employee Cost 0.740.761.301.511.671.98
Other Costs ⓘ 1.261.512.912.883.713.53
Operating Profit ⓘ 1.291.912.944.503.495.25
Operating Profit Margin (%) 6.0%7.4%9.9%16.7%12.0%9.2%
Other Income ⓘ + 00.030.080.030.110.11
Exceptional Items ⓘ 000000
Interest ⓘ 0.361.131.481.431.672.16
Depreciation ⓘ 0.420.5310.881.082.60
Profit Before Tax ⓘ 0.510.280.542.220.850.60
Tax ⓘ 0.090.080.160.580.330.07
Profit After Tax 0.420.200.391.640.530.53
PAT Margin (%) 1.9%0.8%1.3%6.1%1.8%0.9%
Adjusted EPS (₹)1.30.60.83.10.70.7
Dividend Payout Ratio (%)0%0%0%0%0%0%

Valuation of Comrade Appliances - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 2.932.425.026.8916.9320.19
Share Capital ⓘ 3.323.325.175.257.537.78
Reserves ⓘ -0.39-0.91-0.151.649.4012.41
Debt +3.6112.349.4211.2312.7526.84
Long Term Debt2.146.403.942.231.8011.73
Short Term Debt1.475.945.48910.9515.11
Minority Interest000000
Trade Payables6.148.676.385.187.5921.96
Others Liabilities ⓘ 4.117.984.444.232.644.46
Total Liabilities ⓘ 16.7931.4125.2727.5339.9173.45

Fixed Assets

Net Fixed Assets ⓘ +2.704.954.344.426.0323.76
Gross Block3.616.396.777.7310.4330.77
Accumulated Depreciation0.921.432.433.314.407.01
CWIP ⓘ 000000
Investments ⓘ 000000
Inventories6.7214.1712.4515.9119.1028.87
Trade Receivables5.228.856.775.328.2511.84
Cash Equivalents 0.060.370.250.600.681.12
Others Assets ⓘ 2.103.071.461.295.857.86
Total Assets ⓘ 16.7931.4125.2727.5339.9173.45

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 1.45-1.714.48-0.16-5.994.56
PBT ⓘ 0.510.280.542.220.850.60
Adjustment ⓘ 0.751.512.792.032.274.52
Changes in Working Capital ⓘ 0.26-3.431.3-3.76-9.11-0.36
Tax Paid ⓘ -0.07-0.08-0.15-0.570-0.20
Cash Flow From Investing Activity ⓘ + -1.16-3.47-0.37-0.94-2.63-20.29
Capex -1.16-2.76-0.38-0.96-2.70-20.34
Net Investments 000000
Others ⓘ 0-0.710.020.020.070.05
Cash Flow From Financing Activity ⓘ + -0.245.49-4.231.448.7013.71
Net Proceeds from Shares ⓘ 0.292.22-0.370.2312.302.73
Net Proceeds from Borrowing ⓘ -0.214.26-2.46-1.12-0.439.93
Interest Paid ⓘ -0.32-0.99-1.40-1.17-1.23-1.93
Dividend Paid ⓘ 000000
Others ⓘ -0003.48-1.942.99
Net Cash Flow ⓘ 0.050.31-0.110.340.08-2.02

Financial Ratio

PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)14.257.5510.4227.454.412.86
ROCE (%)12.5611.0111.619.989.826.87
Asset Turnover Ratio1.291.081.051.020.861.01
PAT to CFO Conversion(x)3.45-8.5511.49-0.1-11.38.6
Working Capital Days
Receivable Days88.1098.7096.1081.8085.4064
Inventory Days113.40146.60163.90192220.40152.80
Payable Days132.60133.40127.80122.50117.50118.10

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Comrade Appliances Ltd FAQs

The current trading price of Comrade Appliances on 01-Jul-2026 16:59 is ₹20.90.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 30-Jun-2026 the market cap of Comrade Appliances stood at ₹16.26 Cr

The latest P/E ratio of Comrade Appliances as of 30-Jun-2026 is 0.00.

The latest P/B ratio of Comrade Appliances as of 30-Jun-2026 is 0.81.

The 52-week high of Comrade Appliances is ₹112.0 and the 52-week low is ₹20.54.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Comrade Appliances is ₹30.11 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Comrade Appliances Ltd is a below average quality company.

The key valuation ratios of Comrade Appliances Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Comrade Appliances Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Comrade Appliances Ltd

The company was originally incorporated as Comrade Appliances Private Limited on March 22, 2017 vide certificate of incorporation bearing CIN U74999MH2017PTC292817 as a Private Limited Company under the provisions of the Companies Act, 2013 issued by Registrar of Companies, Central Registration Centre. Subsequently, pursuant to a Special Resolution of its Shareholders passed at the Extra-Ordinary General Meeting held on November 10, 2022, the company was converted from a Private Limited Company to Public Limited Company and consequently, the name of The company was changed to ‘Comrade Appliances Limited’ and a Fresh Certificate of Incorporation consequent to Conversion was issued on December 13, 2022 by the Registrar of Companies, Mumbai.

Comrade Appliances is engaged in the process of manufacturing an extensive array of Air Coolers and Electric Geysers. It manufactures consumer durable goods and assemble a wide array of products and provide end-to-end product solutions. It serves under both original equipment manufacturer (OEM) and original design manufacturer (ODM) business models. Under the OEM model, it manufacture and supply products basis designs developed by its customers, who then further distribute these products under their own brands. Under the ODM model, in addition to manufacturing, it conceptualize and design the products which are then marketed to its customers’ prospective customers under their brands. It offers innovative solutions to its customers, which include leading international and national consumer brands. Its comprehensive solution suite includes global sourcing, fabrication of components and parts, captive manufacturing and assembly, quality testing, packaging and logistics support, which enables it to partner with leading consumer goods brands in India. Its key customers include leading brands in consumer durables. It manufactures and sale its products under the brand name of ‘Comrade’.

It has a manufacturing facility located at Palghar, which are strategically located in and around Mumbai (Maharashtra). Its modern and state-of-art manufacturing facilities are equipped with high quality machinery, assembly lines that enable it to meet the quality requirements of its customers in a timely manner. In line with its focus to provide end to-end product solutions and to develop better control on its supply chain and improve its margins.

Business area of the company

The company is engaged in the process of manufacturing an extensive array of Air Coolers and Electric Geysers.

Products of the company 

  • Air cooler-Tower series
  • Air cooler-Personal series
  • Electric geysers

History and milestones

  • 2017: Incorporation of the company in the name and style of ‘Comrade Appliances Private Limited’.
  • 2021: The company took over the business of its sister concern company M/s Troupe Technologies Private Limited (TTPL) on slump sale basis.
  • 2021: The company was issued ISO 9001:2015 Certificate for Quality Management System.
  • 2022: Conversion of the company from Private Limited Company to Public Limited Company and Change of name of Company to Comrade Appliances Limited.

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