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Mallcom (India) Ltd.
(MALLCOM)
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Rating:51Neutral
Price Target:
₹1,006.00
▼(-1.95% 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 Expansion
A multi-year revenue growth record indicates sustained customer demand and expanding sales reach. Although FY2026 growth moderated, continued top-line expansion supports the durability of Mallcom’s PPE and industrial safety distribution model.
Negative Factors
Sharp FY2026 Earnings Decline
The substantial earnings reduction signals recent margin pressure or higher operating costs despite continued revenue growth. If this weakness persists, it could limit internal funding capacity and reduce confidence in the sustainability of prior profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue Expansion
A multi-year revenue growth record indicates sustained customer demand and expanding sales reach. Although FY2026 growth moderated, continued top-line expansion supports the durability of Mallcom’s PPE and industrial safety distribution model.
Read all positive factors
Mallcom (India) Ltd. (MALLCOM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹6.43B
Dividend Yield0.29%
Average Volume (3M)203.00
Price to Earnings (P/E)24.0
Beta (1Y)1.27
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. Volume320
30 Day Avg. Volume203
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...
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 |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹2.45B | 8.82 | ― | 0.78% | 35.25% | 30.99% | |
69 Neutral | ₹60.90B | 41.76 | ― | 1.63% | 25.20% | 269.50% | |
62 Neutral | ₹9.13B | 14.96 | ― | 0.23% | 2.83% | 37.81% | |
60 Neutral | ₹8.07B | 30.60 | ― | 2.39% | -9.28% | -46.61% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | ₹6.43B | 23.99 | ― | 0.29% | 3.91% | -54.47% |
* General Sector Average
IN:MALLCOM
Mallcom (India) Ltd.
1,029.75
-238.80
-18.82%
IN:KRYSTAL
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653.20
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-3.12%
IN:SIS
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430.95
79.35
22.57%
IN:STERTOOLS
Sterling Tools Limited
222.00
-107.24
-32.57%
IN:VETO
Veto Switchgears & Cables Ltd.
127.95
16.63
14.94%
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...
Mallcom Uploads Q1 FY27 Earnings Call Audio for Investors
Jul 31, 2026
Mallcom (India) Ltd. has notified the stock exchanges that the audio recording of its Q1 FY27 earnings conference call, held on July 31, 2026, has been uploaded to the company’s website for investor access. The disclosure, made under SEBI...
Mallcom (India) Ltd. Posts Q1 FY27 Results and Confirms Independent Director for New Term
Jul 30, 2026
Mallcom (India) Ltd. reported its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, following approval by the Board of Directors at a meeting held on July 30, 2026. The results were reviewed by statutory ...
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...
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.