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Mallcom (India) Ltd.
(MALLCOM)
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Rating:51Neutral
Price Target:
₹888.00
▼(-13.45% Downside)
Action:Reiterated
Date:08/30/26
Overall score reflects decent operating history and a reasonably stable balance sheet, offset by consistently weak cash conversion and a sharp FY2026 earnings decline. Technicals add a modest headwind (below key longer-term moving averages and negative MACD), while valuation is neutral with a low dividend yield.
Positive Factors
Steady Revenue Growth
Revenue has expanded across the last five years, including a strong FY2023 increase and continued growth through FY2026. This track record indicates established demand for Mallcom’s safety products and provides a durable base for scale, even as the latest growth rate moderates.
Negative Factors
Weak Cash Conversion
Operating cash flow has been highly volatile and free cash flow was negative in five of the six reported years, with only FY2023 positive. Persistent difficulty converting accounting profits into cash can constrain internally funded growth and weaken flexibility for investment or debt service.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue Growth
Revenue has expanded across the last five years, including a strong FY2023 increase and continued growth through FY2026. This track record indicates established demand for Mallcom’s safety products and provides a durable base for scale, even as the latest growth rate moderates.
Read all positive factors
Mallcom (India) Ltd. (MALLCOM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹5.52B
Dividend Yield0.34%
Average Volume (3M)136.00
Price to Earnings (P/E)20.7
Beta (1Y)1.29
Revenue Growth3.91%
EPS Growth-54.47%
CountryIN
Employees309
SectorGeneral
Sector StrengthN/A
IndustrySecurity & Protection Services
Share Statistics
EPS (TTM)42.88
Shares Outstanding6,240,000
10 Day Avg. Volume114
30 Day Avg. Volume136
Financial Highlights & Ratios
PEG Ratio-0.41
Price to Book (P/B)1.84
Price to Sales (P/S)1.08
P/FCF Ratio-89.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)101.4
Revenue Forecast (FY)₹6.69B
Mallcom (India) Ltd. Business Overview & Revenue Model
Company Description
Mallcom (India) Limited, alongside its subsidiaries, operates as a global manufacturer and distributor of personal protective equipment (PPE). Their extensive product catalog features head protection gear, including helmets, face shields, ear defe...
Mallcom (India) Ltd. Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
72
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.27B | 5.40B | 4.70B | 4.21B | 4.11B | 3.49B |
| Gross Profit | 571.84M | 530.19M | 899.47M | 562.34M | 833.00M | 604.73M |
| EBITDA | 569.77M | 611.39M | 608.73M | 618.21M | 616.30M | 528.22M |
| Net Income | 267.55M | 300.43M | 574.35M | 363.16M | 369.37M | 326.24M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 5.12B | 4.93B | 3.88B | 3.54B | 2.79B |
| Cash, Cash Equivalents and Short-Term Investments | 99.77M | 99.77M | 189.58M | 470.00M | 670.19M | 285.90M |
| Total Debt | 0.00 | 1.20B | 1.16B | 926.92M | 907.34M | 533.78M |
| Total Liabilities | -3.18B | 1.94B | 1.94B | 1.50B | 1.51B | 1.03B |
| Stockholders Equity | 3.18B | 3.18B | 2.99B | 2.38B | 2.03B | 1.68B |
Cash Flow | ||||||
| Free Cash Flow | -11.62M | -65.77M | -769.67M | -199.57M | 76.08M | -225.59M |
| Operating Cash Flow | 212.72M | 279.51M | 17.00M | 63.75M | 534.52M | 12.46M |
| Investing Cash Flow | -139.95M | -328.60M | -431.07M | -97.75M | -750.42M | -19.59M |
| Financing Cash Flow | -67.02M | 26.23M | 151.82M | -41.67M | 330.33M | -14.07M |
Mallcom (India) Ltd. Technical Analysis
Negative
1026.00
Price Trends
942.72
Negative
980.72
Negative
1029.70
Negative
Market Momentum
-14.62
Negative
38.51
Neutral
14.59
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MALLCOM, the sentiment is Negative. The current price of 1026 is above the 20-day moving average (MA) of 902.92, above the 50-day MA of 942.72, and below the 200-day MA of 1029.70, indicating a bearish trend. The MACD of -14.62 indicates Negative momentum. The RSI at 38.51 is Neutral, neither overbought nor oversold. The STOCH value of 14.59 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MALLCOM.
Mallcom (India) Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹2.27B | 8.29 | ― | 0.84% | 35.25% | 31.03% | |
64 Neutral | ₹52.18B | 35.60 | ― | 1.90% | 25.20% | 269.50% | |
60 Neutral | ₹7.82B | 12.88 | ― | 0.27% | 2.83% | 37.81% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | ₹5.52B | 20.69 | ― | 0.34% | 3.91% | -54.47% | |
51 Neutral | ₹7.25B | 59.95 | ― | 2.66% | -9.28% | -46.61% |
* General Sector Average
IN:MALLCOM
Mallcom (India) Ltd.
884.00
-537.98
-37.83%
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559.40
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IN:SIS
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369.15
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IN:STERTOOLS
Sterling Tools Limited
199.40
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IN:VETO
Veto Switchgears & Cables Ltd.
118.95
0.21
0.18%
IN:ZICOM
Zicom Electronic Security Systems Limited
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Mallcom (India) Ltd. Corporate Events
Mallcom Schedules Virtual Investor and Analyst Meet for September 1
Aug 25, 2026
Mallcom (India) Ltd., a listed supplier of industrial safety and personal protective equipment, engages corporate and institutional clients through its presence on India’s major stock exchanges. The company’s ongoing investor communica...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.