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Mallcom (India) Ltd.
(MALLCOM)
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Rating:50Neutral
Price Target:
₹1,054.00
▲(2.73% Upside)
Action:Reiterated
Date:05/30/26
The score is held back mainly by weak and inconsistent cash flow (mostly negative free cash flow) and a technically bearish setup (below key moving averages with a negative MACD). These are partially offset by a history of revenue growth and a balance sheet with manageable leverage, while valuation appears only neutral given a moderate P/E and very low dividend yield.
Positive Factors
Revenue Growth Track Record
A multi-year revenue growth trend, including a strong FY2023 uplift and continued expansion through FY2026, indicates durable demand and successful market penetration. Sustained top-line growth supports scale economics, broadened customer relationships, and the ability to invest in capacity and distribution over the medium term.
Negative Factors
Weak and Volatile Cash Generation
Persistent negative free cash flow and lumpy operating cash flow undermine the firm’s ability to self-fund growth or absorb shocks. Volatility suggests working-capital swings or timing gaps between earnings and collections, increasing dependence on external financing and limiting long-term financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Track Record
A multi-year revenue growth trend, including a strong FY2023 uplift and continued expansion through FY2026, indicates durable demand and successful market penetration. Sustained top-line growth supports scale economics, broadened customer relationships, and the ability to invest in capacity and distribution over the medium term.
Read all positive factors
Mallcom (India) Ltd. (MALLCOM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹6.36B
Dividend Yield0.29%
Average Volume (3M)770.00
Price to Earnings (P/E)22.8
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. Volume1,217
30 Day Avg. Volume770
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) Ltd. is an India-based manufacturer and distributor of personal protective equipment (PPE) and industrial safety products. The company’s product portfolio includes head protection, hand protection, hearing and eye protection, respi...
How the Company Makes Money
Mallcom (India) Ltd. generates revenue primarily by selling PPE and industrial safety products to businesses and institutions that require worker-safety compliance and protection. Key revenue streams include: (1) Product sales across PPE categorie...
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. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹8.68B | 14.86 | ― | 0.25% | 2.83% | 37.81% | |
69 Neutral | ₹2.45B | 8.97 | ― | 0.82% | 35.25% | 30.99% | |
64 Neutral | ₹58.41B | 40.61 | ― | 1.60% | 25.20% | 269.50% | |
56 Neutral | ₹8.07B | 31.08 | ― | 2.05% | -9.28% | -46.61% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹6.36B | 22.85 | ― | 0.30% | 3.91% | -54.47% |
* General Sector Average
IN:MALLCOM
Mallcom (India) Ltd.
993.50
-254.60
-20.40%
IN:KRYSTAL
Krystal Integrated Services Ltd.
651.65
-10.87
-1.64%
IN:SIS
SIS Limited
419.90
66.43
18.80%
IN:STERTOOLS
Sterling Tools Limited
224.35
-79.11
-26.07%
IN:VETO
Veto Switchgears & Cables Ltd.
127.30
17.82
16.28%
IN:ZICOM
Zicom Electronic Security Systems Limited
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Mallcom (India) Ltd. Corporate Events
Mallcom promoters affirm no encumbrance on shares for FY26
Jun 5, 2026
Mallcom (India) Ltd.’s promoters and persons acting in concert have declared that they did not create any encumbrance, direct or indirect, on their shareholding in the company during the financial year ended 31 March 2026. The declaration, f...
Mallcom (India) Sets May 29 Call to Discuss Q4 FY26 Results and Outlook
May 25, 2026
Mallcom (India) Ltd. has scheduled an earnings conference call on Friday, 29 May 2026 at 4:00 p.m. IST to discuss its financial results for the fourth quarter of FY26. The call, which will feature Associate Vice President Rohit Mall and Chief Fina...
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.