Mallcom (India) Ltd. (MALLCOM) AI Stock Analysis

• Market Cap: ₹8.05B
• Dividend Yield: 0.23%
• Average Volume (3M): 545.00
• Price to Earnings (P/E): 13.7
• Beta (1Y): 1.20
• Revenue Growth: 18.24%
• EPS Growth: 61.77%
• Country: IN
• Employees: 309
• Sector: Consumer Goods
• Sector Strength: N/A
• Industry: Security & Protection Services
• EPS (TTM): 15.79
• Shares Outstanding: 6,240,000
• 10 Day Avg. Volume: 603
• 30 Day Avg. Volume: 545
• PEG Ratio: 0.23
• Price to Book (P/B): 2.55
• Price to Sales (P/S): 1.62
• P/FCF Ratio: -9.90
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,452.00
• Price Target Upside: 12.54% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 75 Outperform
• Price Target: ₹1,452.00 ▲(12.54% Upside)

Mallcom (India) Ltd. scores well due to strong financial performance and attractive valuation. The main strengths are robust revenue and profit growth, alongside a favorable P/E ratio. However, challenges in cash flow management and mixed technical indicators slightly temper the overall score.

Mallcom (India) Ltd. Business Overview & Revenue Model

Company Description

Mallcom (India) Limited, together with its subsidiaries, manufactures and sells personal protective equipment in India and internationally. The company offers head protection equipment comprising skull, face, ear, and eye; hand protection gears, such as latex, nitrile, leather, knitted, cryogenic, polyurethane, and neoprene gloves; body protection products, such as occupational, functional, work, and disposable wear; feet protection equipment, including safety shoes and shoe accessories; and harness, arresters, lanyards, connectors, and accessories for fall. It also exports its products. Mallcom (India) Limited was incorporated in 1983 and is headquartered in Kolkata, India.

How the Company Makes Money

Mallcom (India) Ltd. generates revenue primarily through the manufacture and sale of personal protective equipment (PPE). The company's key revenue streams include domestic sales within India and exports to international markets, where it serves distributors, industrial clients, and government entities. Mallcom leverages its extensive product portfolio and strong distribution network to reach a wide customer base across multiple sectors. Additionally, strategic partnerships and collaborations with global safety equipment distributors enhance its market presence and contribute to its earnings. The company's focus on innovation, quality assurance, and adherence to international safety standards further solidifies its position as a trusted supplier in the PPE industry.

Mallcom (India) Ltd. Financial Statement Overview

Summary

Mallcom (India) Ltd. demonstrates strong financial performance with robust revenue and profit growth, alongside a stable balance sheet. However, challenges in cash flow generation, particularly negative free cash flow, could impact future investments if not addressed.

Income Statement

Mallcom (India) Ltd. exhibits a strong income statement with consistent revenue growth and profitability. The company's gross profit margin increased to 18.5% in 2025 from 13.4% in 2024, indicating improved cost management. Net profit margin also rose significantly to 11.8% from 8.6%, reflecting enhanced operational efficiency. Revenue growth was robust at 15.7% year-over-year. The EBIT margin grew to 14.4% from 11.8%, and the EBITDA margin showed a slight decline from 14.7% to 12.5% due to changes in depreciation/amortization.

Balance Sheet

The balance sheet of Mallcom (India) Ltd. is stable with a debt-to-equity ratio of 0.39, which is manageable. The equity ratio increased to 60.6% from 61.3%, showing a strong equity position. Return on equity improved to 19.2% from 15.3%, indicating enhanced shareholder value. However, the increase in total debt and liabilities suggests a potential risk if not managed well.

Cash Flow

Mallcom (India) Ltd. faces challenges in cash flow management with a negative free cash flow of -769.7 million INR in 2025, down from -199.6 million INR in 2024. The operating cash flow to net income ratio dropped to 0.03, indicating issues in converting earnings into cash. However, the company has improved its ability to generate cash from operations, as shown by the operating cash flow increase in 2025.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.07B	4.70B	4.21B	4.11B	3.49B	3.08B
Gross Profit	921.88M	899.47M	562.34M	833.00M	604.73M	485.19M
EBITDA	667.91M	608.73M	618.21M	616.30M	528.22M	448.34M
Net Income	587.59M	574.35M	363.16M	369.37M	326.24M	282.68M
Balance Sheet
Total Assets	0.00	4.93B	3.88B	3.54B	2.79B	2.53B
Cash, Cash Equivalents and Short-Term Investments	189.58M	189.58M	470.00M	670.19M	285.90M	494.96M
Total Debt	0.00	1.16B	926.92M	907.34M	533.78M	568.50M
Total Liabilities	-2.99B	1.94B	1.50B	1.51B	1.03B	1.06B
Stockholders Equity	2.99B	2.99B	2.38B	2.03B	1.68B	1.41B
Cash Flow
Free Cash Flow	0.00	-769.67M	-199.57M	76.08M	-225.59M	-78.51M
Operating Cash Flow	0.00	17.00M	63.75M	534.52M	12.46M	188.23M
Investing Cash Flow	0.00	-431.07M	-97.75M	-750.42M	-19.59M	-115.56M
Financing Cash Flow	0.00	151.82M	-41.67M	330.33M	-14.07M	180.98M

Mallcom (India) Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1290.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MALLCOM, the sentiment is Positive. The current price of 1290.2 is below the 20-day moving average (MA) of 1306.66, above the 50-day MA of 1277.54, and above the 200-day MA of 1274.87, indicating a neutral trend. The MACD of 6.02 indicates Positive momentum. The RSI at 49.22 is Neutral, neither overbought nor oversold. The STOCH value of 27.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MALLCOM.

Mallcom (India) Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MALLCOM	75 Outperform	₹8.05B	13.70	―	0.23%	18.24%	61.77%
IRISDOREME	71 Outperform	₹6.08B	23.96	―	―	17.85%	96.96%
SREEL	67 Neutral	₹5.30B	25.38	―	―	1.98%	-16.31%
BIL	63 Neutral	₹10.78B	38.57	―	―	29.35%	―
SATIA	62 Neutral	₹8.32B	8.39	―	0.36%	-9.48%	-44.32%
Sector *	57 Neutral	$3.13B	9.23	-34.32%	3.14%	-25.56%	-353.61%
VARDMNPOLY	45 Neutral	₹3.88B	11.59	―	―	-6.24%	―