Comrade Appliances Ltd (543921) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 543921 | NSE: | Consumer Durables - Domestic Appliances | Small Cap

Comrade Appliances Share Price

68.95 -0.05 -0.07%
as on 05-Dec'25 15:31

Comrade Appliances Ltd (543921) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 543921 | NSE: | Consumer Durables - Domestic Appliances | Small Cap

DeciZen - make an informed investing decision on Comrade Appliances

Based on:

M-Cap below 100cr DeciZen not available

Comrade Appliances stock performance -

Key Ratios
mw4me loader
P/E Ratio (SA):
101.16
Market Cap:
53.7 Cr.
52-wk low:
61
52-wk high:
174

Is Comrade Appliances Ltd an attractive stock to invest in?


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10 Year X-Ray of Comrade Appliances: 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

Value Creation Index Colour Code Guide

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

Growth Parameters Colour Code Guide

Sales 21.62629.7272957.357
Sales YoY Gr.-20.3%14%-9.1%7.5%97.7%-
Adj EPS 1.30.60.83.10.70.70.7
YoY Gr.--55.6%33.9%316%-77.6%-2.9%-
BVPS (₹) 8.87.39.713.122.52626
Adj Net
Profit
0.40.20.41.60.50.51
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

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA21.5%24.6%97.7%
Adj EPS NA-11.6%-3.2%-2.9%
BVPSNA24.1%38.8%15.4%
Share Price - - - -38.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
14.34.9827.54.42.72.6
Op. Profit
Mgn %
67.49.916.7129.2NAN
Net Profit
Mgn %
1.90.71.36.11.80.90.9
Debt to
Equity
1.45.82.220.81.3-
Working Cap
Days
02822882923512600
Cash Conv.
Cycle
01391501762161180

Recent Performance Summary

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Latest Financials - Comrade Appliances Ltd.

Standalone Consolidated
TTM EPS (₹) 0.7 -
TTM Sales (₹ Cr.) 57.3 -
BVPS (₹.) 26 -
Reserves (₹ Cr.) 12 -
P/BV 2.66 -
PE 101.16 -
From the Market
52 Week Low / High (₹) 61.00 / 173.95
All Time Low / High (₹) 61.00 / 174.90
Market Cap (₹ Cr.) 53.7
Equity (₹ Cr.) 7.8
Face Value (₹) 10
Industry PE 50

Management X-Ray of Comrade Appliances:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Comrade Appliances - Standalone Basis

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

mw4me loader

Event Update

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Analyst's Notes

data not found
No data found!

Key Ratios of Comrade Appliances

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

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
Interest 0.361.131.481.431.672.16
Depreciation 0.420.5310.881.082.60
Exceptional Items 000000
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%

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
Minority Interest000000
Debt3.6112.349.4211.2312.7526.84
Long Term Debt2.146.403.942.231.8011.73
Short Term Debt1.475.945.48910.9515.11
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

Gross Block3.616.396.777.7310.4330.77
Accumulated Depreciation0.921.432.433.314.407.01
Net Fixed Assets 2.704.954.344.426.0323.76
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

Finance 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 Days889996828564
Inventory Days113147164192220153
Payable Days133133128122117118

Comrade Appliances Ltd Stock News

Comrade Appliances Ltd FAQs

The current trading price of Comrade Appliances on 05-Dec-2025 15:31 is ₹68.95.
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 04-Dec-2025 the market cap of Comrade Appliances stood at ₹53.67.
The latest P/E ratio of Comrade Appliances as of 04-Dec-2025 is 101.2.
The latest P/B ratio of Comrade Appliances as of 04-Dec-2025 is 2.66.
The 52-week high of Comrade Appliances is ₹173.9 and the 52-week low is ₹61.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Comrade Appliances is ₹57.31 ( Cr.) .

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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