SEBI Reg. Investment Advisor

Download App
Help Center Pricing
Money Works 4 Me Logo MoneyWorks4Me
Talk to Advisor
Login Get Free Account
Sign Up

MoneyWorks4Me

Log In Sign Up Schedule Free 15‑min Call
Login Get Free Account
Sign Up

Earkart Ltd (544549)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544549 NSE: Medical Equipment/Supplies/Accessories | Small Cap | Earkart Share Price

₹119 -6.00 (-4.80%)

As on 04-Jun'26 16:59

Earkart Ltd (544549)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544549 NSE: Medical Equipment/Supplies/Accessories | Small Cap | Earkart Share Price

₹119 -6.00 (-4.80%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹164 Cr.
Current Price
₹119
52-Week Low / High
₹104 / 266
TTM EPS
₹3.6
TTM Sales
₹54 Cr.
Book Value per Share
₹46.9
P/E Ratio
33.19
In line with its 5-year historical median
Industry PE
111.2
Price to Book (P/B)
2.54
Lower than its 5-year historical median
Price to Sales (P/S)
3.03
Lower than its 5-year historical median
EV/EBITDA
19.90
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
40.63%
Outperforms industry median
Return on Capital Employed (ROCE)
44.39%
Outperforms industry median
Return on Assets (ROA)
26.86%
Operating Profit Margin
22.3%
Net Profit Margin
15.41%
Gross Profit Margin
21.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
35.78%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
167.88%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
116.99%
Asset Quality
Promoter Holding
57.34%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹51 Cr.
Equity
₹13.8 Cr.
Face Value
₹10
All Time Low / High
₹104.35 / 265.95

Earkart stock performance

Key Ratios
mw4me loader

Check Before You Invest

Check Before You Invest

Quality

Not Good
Check detailed performance

Valuation

Fair

Check Valuation charts

Price Trend

Weak
Check Price chart
Q.1 Is Earkart Ltd a good quality company?
Earkart Ltd is a weak quality company, based on a inconsistent 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.

View More

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.

View More
How does Earkart Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Earkart Ltd vs industry peers?
Earkart Ltd revenue CAGR is 96.41%, compared to the industry median CAGR of 14.09%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Earkart Ltd?
Promoters hold 57.34% of the Earkart Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Earkart Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.
View More

10 Year X-Ray :

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.
Earkart 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'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ2.3%24%29.1%44.4%-
Value Creation
Index ⓘ		-0.80.71.12.2-

Growth Parameters ⓘ
Sales ⓘ5.728.931.843.154
Sales YoY Gr.-408.3%9.8%35.8%-
Adj EPS ⓘ0.11.73.96.33.6
YoY Gr.-1445.5%129.4%62.3%-
BVPS (₹) ⓘ6.38.717.218.946.9
Adj Net
Profit ⓘ		0.11.32.96.65
Cash Flow from Ops. ⓘ-2.8-0.3-10.7-
Debt/CF from Ops. ⓘ-0.1-4.1-47-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNANA96.4%35.8%
Adj EPS ⓘNANA286.1%62.3%
BVPSⓘNANA44.2%9.5%
Share Price - - - -

Key Financial Parameters ⓘ

Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		1.822.63040.210.9
Op. Profit
Mgn % ⓘ		2.45.711.322.3NAN
Net Profit
Mgn % ⓘ		1.54.49.315.39.1
Debt to
Equity ⓘ		0.10.20.30.3-
Working Cap
Days ⓘ		01131741880
Cash Conv.
Cycle ⓘ		036911370

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Sales6293243
Operating Expenses ⓘ + 6272834
Manufacturing Costs0121
Material Costs2202025
Employee Cost 1334
Other Costs ⓘ 2434
Operating Profit ⓘ 02410
Operating Profit Margin (%) 2.4%5.6%11.3%22.3%
Other Income ⓘ + 0000
Exceptional Items ⓘ 0000
Interest ⓘ 0000
Depreciation ⓘ 0000
Profit Before Tax ⓘ 0139
Tax ⓘ 0002
Profit After Tax 0137
PAT Margin (%) 1.9%4.5%9.6%15.4%
Adjusted EPS (₹)0.11.74.16.4
Dividend Payout Ratio (%)0%0%0%0%

Valuation of Earkart - 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

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

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

Equity and Liabilities

Shareholders Fund + 571320
Share Capital ⓘ 00010
Reserves ⓘ 56139
Debt +0145
Long Term Debt0000
Short Term Debt0145
Minority Interest0000
Trade Payables1613
Others Liabilities ⓘ 0112
Total Liabilities ⓘ 6151930

Fixed Assets

Net Fixed Assets ⓘ +0011
Gross Block0012
Accumulated Depreciation0001
CWIP ⓘ 0000
Investments ⓘ 1001
Inventories1567
Trade Receivables25619
Cash Equivalents 0110
Others Assets ⓘ 2443
Total Assets ⓘ 6151930

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + -3-0-11
PBT ⓘ 0139
Adjustment ⓘ 0011
Changes in Working Capital ⓘ -3-2-5-7
Tax Paid ⓘ -0-0-0-2
Cash Flow From Investing Activity ⓘ + -20-1-1
Capex -0-0-1-1
Net Investments -11-0-1
Others ⓘ -0-1-0-0
Cash Flow From Financing Activity ⓘ + 503-0
Net Proceeds from Shares ⓘ 5030
Net Proceeds from Borrowing ⓘ 0000
Interest Paid ⓘ 0-0-0-0
Dividend Paid ⓘ 0000
Others ⓘ 0-000
Net Cash Flow ⓘ 011-1

Financial Ratio

PARTICULARSMar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)2.2223.2731.3140.63
ROCE (%)2.3424.0229.0544.39
Asset Turnover Ratio0.962.81.871.74
PAT to CFO Conversion(x)N/A-0-0.330.14
Working Capital Days
Receivable Days103.7039.9063.40105.70
Inventory Days4839.4067.3054.10
Payable Days92.7058.3062.8029.70

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Earkart Ltd FAQs

The current trading price of Earkart on 04-Jun-2026 16:59 is ₹119.0.

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 03-Jun-2026 the market cap of Earkart stood at ₹163.7 Cr

The latest P/E ratio of Earkart as of 03-Jun-2026 is 33.19.

The latest P/B ratio of Earkart as of 03-Jun-2026 is 2.54.

The 52-week high of Earkart is ₹265.9 and the 52-week low is ₹104.3.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Earkart is ₹54.03 ( Cr.) .

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

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

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

About Earkart Ltd

Earkart Limited was incorporated as ‘Earkart Private Limited’ a Private Limited Company in Noida, Uttar Pradesh on April 14, 2021. Thereafter, name of the company was changed from ‘Earkart Private Limited’ to ‘Earkart Limited’, consequent to conversion of the company from Private to Public Company, pursuant to a special resolution passed by the shareholders of the company on November 27, 2024.

The company manufactures and distributes modern hearing aids and related accessories at affordable prices across India. Along with their own manufactured hearing aid, it also trades in hearing aid, parts and accessories of other brands manufactured in India and abroad. In addition, it offers other products like adjustable foldable walkers and MultiSensory Integrated Educational Development (MSIED) and Teaching Learning Material (TLM) kits to support mobility and daily needs of physically challenged. It has developed a smart and easy-to-use remote audiometry machine that allows people to get tested and fitted for hearing aids from anywhere in the world.

It offers hearing solutions through its network of partners and clinics across India, which sell both domestic and global hearing aid brands. The company focuses on Tier 2 and Tier 3 cities, where it aims to bridge the accessibility gap using innovative delivery models like branded kiosks and dedicated telehealth services. The company is a trusted supplier on the Government e-Marketplace (GeM) and provides hearing aids to Artificial Limbs Manufacturing Corporation of India (ALIMCO). ALIMCO is 100% government owned enterprise functioning under the Administrative Control of Ministry of Social Justice & Empowerment, Department of Empowerment of Persons with Disabilities.

Business area of the company 

The company assembles, manufactures, sells, trades, provides after sales services (including user training) and undertakes research and development of affordable hearing aids, MSIED Kits, TLM Kits & other rehabilitation products, including their components, accessories and parts thereof. The company focuses on Tier 2 and Tier 3 cities, where it aims to bridge the accessibility gap using innovative delivery models like branded kiosks and dedicated telehealth services.

Products and Services of the company

Products 

  • Hearing Aids: The company manufactures three types of hearing aids, marketed under the brand names EQFYTM, Fame, and Radius. EQFYTM offers a single product, the Fame series includes four different product variation, and the Radius brand features eleven different product variations.
  • Hearing Aids Accessories: Hearing Aid Accessories are additional items designed to support the use, care, and performance of hearing aids. They include products like ear buds for a better fit, batteries for power, cleaning tools like brushes, wax guards to protect the device, and battery testers to ensure proper function. 
  • MSIED Kit: It has been designed for educational purpose for Mentally Challenged.
  • TLM Kit: Teaching Learning Material (TLM) Kit consists of various products/materials used for education purpose and designed for 0-3 year age group, 3-6 year age group and 6 years above till 18 years.
  • ADJUSTABLE WALKER - FOLDABLE: Adjustable foldable walker is perfectly combined with its lightweight frame ensuring easy storage, portability and durability.

Services

  • Support services - Consultancy charges
  • Support services - Conversion Charge
  • Franchisee Fees
  • Audiometry Charge

History and milestones

  • 2021: Launch of earKART CRM and dealer App.
  • 2022: Bureau of Indian Standards (BIS) license received.
  • 2022: First government order received for 10,000 Hearing Aids units.
  • 2023: Granted ISO 13485:2016.
  • 2023: Licence to Manufacture for Sale or for Distribution of Class A or Class B medical device.
  • 2024: Launch of ENT (Shop in Shop Model).
  • 2024: Launch of remote video Audiometry Device OMNI.
  • 2024: Conversion into a Public Limited Company.
You have 0 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now
2026 ©The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me® is a registered trademark of The Alchemists Ark Pvt. Ltd.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×