BSE: 0 | NSE: EFORCE | Electronics - Components | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Electro Force (India) Ltd is a below average quality company.
The key valuation ratios of Electro Force (India) Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Electro Force (India) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | -29.2% | 79.4% | 58.9% | 18.9% | - |
| Value Creation Index ⓘ | -3.1 | 4.7 | 3.2 | 0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 15.7 | 34.4 | 30.3 | 36.4 | 36 |
| Sales YoY Gr. | - | 118.6% | -12.1% | 20.5% | - |
| Adj EPS ⓘ | -1.3 | 5 | 1.3 | 2.5 | 2.5 |
| YoY Gr. | - | NA | -74.5% | 93.7% | - |
| BVPS (₹) ⓘ | 1 | 6 | 3 | 30 | 30 |
| Adj Net Profit ⓘ | -2.2 | 8.6 | 7.7 | 5.8 | 6 |
| Cash Flow from Ops. ⓘ | 3 | 3.6 | -0.2 | -44.8 | - |
| Debt/CF from Ops. ⓘ | 1.9 | 2.5 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 32.3% | 20.5% | ||||
| Adj EPS ⓘ | NA | NA | NA | 93.7% | ||||
| BVPSⓘ | NA | NA | 211.8% | 890.1% | ||||
| Share Price | - | - | - | -51.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | -130.5 | 143.2 | 53.8 | 13 | 8.2 |
| Op. Profit Mgn % ⓘ | -9.8 | 33.2 | 38.7 | 24.4 | NAN |
| Net Profit Mgn % ⓘ | -14.2 | 25.1 | 25.5 | 15.8 | 15.8 |
| Debt to Equity ⓘ | 3.4 | 0.9 | 0 | 0 | - |
| Working Cap Days ⓘ | 0 | 227 | 613 | 746 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 9 | 75 | 112 | 0 |
Sales growth is growing at healthy rate in last 3 years 32.29%
Return on Equity has declined versus last 3 years average to 8.20%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 2.5 | - |
| TTM Sales (₹ Cr.) | 36.4 | - |
| BVPS (₹.) ⓘ | 30 | - |
| Reserves (₹ Cr.) ⓘ | 47 | - |
| P/BV ⓘ | 1.88 | - |
| PE ⓘ | 22.90 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 132 |
| Equity (₹ Cr.) | 23.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 217.7 |
| Pledged * | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 16 | 34 | 30 | 36 |
| Operating Expenses ⓘ | 17 | 23 | 19 | 28 |
| Manufacturing Costs | 1 | 1 | 1 | 2 |
| Material Costs | 15 | 20 | 16 | 22 |
| Employee Cost | 1 | 1 | 1 | 1 |
| Other Costs ⓘ | 0 | 0 | 1 | 2 |
| Operating Profit ⓘ | -2 | 11 | 12 | 9 |
| Operating Profit Margin (%) | -9.8% | 33.2% | 38.7% | 24.4% |
| Other Income ⓘ | 0 | 0 | 0 | 0 |
| Interest ⓘ | 0 | 0 | 0 | 0 |
| Depreciation ⓘ | 1 | 1 | 1 | 1 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -2 | 11 | 11 | 8 |
| Tax ⓘ | 0 | 2 | 3 | 2 |
| Profit After Tax | -2 | 9 | 8 | 6 |
| PAT Margin (%) | -14.2% | 25.1% | 25.5% | 15.8% |
| Adjusted EPS (₹) | -1.3 | 5.0 | 1.3 | 2.5 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 2 | 10 | 18 | 70 | ||||||
| Share Capital ⓘ | 5 | 5 | 17 | 23 | ||||||
| Reserves ⓘ | -3 | 5 | 1 | 47 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 6 | 9 | 0 | 0 | ||||||
| Long Term Debt | 6 | 9 | 0 | 0 | ||||||
| Short Term Debt | 0 | 0 | 0 | 0 | ||||||
| Trade Payables | 4 | 4 | 4 | 4 | ||||||
| Others Liabilities ⓘ | 6 | 24 | 50 | 11 | ||||||
| Total Liabilities ⓘ | 17 | 47 | 72 | 85 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 19 | 16 | 16 | 16 | ||||||
| Accumulated Depreciation | 11 | 12 | 13 | 14 | ||||||
| Net Fixed Assetsⓘ | 7 | 3 | 3 | 3 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | ||||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | ||||||
| Inventories | 2 | 2 | 13 | 10 | ||||||
| Trade Receivables | 6 | 4 | 7 | 4 | ||||||
| Cash Equivalents | 1 | 10 | 1 | 1 | ||||||
| Others Assetsⓘ | 1 | 28 | 48 | 67 | ||||||
| Total Assets ⓘ | 17 | 47 | 72 | 85 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 3 | 4 | 0 | -45 |
| PBT ⓘ | -2 | 11 | 11 | 8 |
| Adjustment ⓘ | 1 | 1 | 1 | 1 |
| Changes in Working Capital ⓘ | 4 | -8 | -10 | -50 |
| Tax Paid ⓘ | 0 | 0 | -2 | -3 |
| Cash Flow From Investing Activity ⓘ | -4 | 3 | 0 | -1 |
| Capex | -4 | 3 | 0 | 0 |
| Net Investments | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | -1 |
| Cash Flow From Financing Activityⓘ | 0 | 3 | -9 | 46 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 56 |
| Net Proceeds from Borrowing ⓘ | 0 | 3 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | -9 | -10 |
| Net Cash Flow ⓘ | 0 | 10 | -9 | 0 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -130.45 | 143.18 | 53.76 | 12.99 | ||||||
| ROCE (%) | -29.15 | 79.41 | 58.89 | 18.92 | ||||||
| Asset Turnover Ratio | 0.92 | 1.07 | 0.51 | 0.46 | ||||||
| PAT to CFO Conversion(x) | N/A | 0.44 | 0 | -7.5 | Working Capital Days | |||||
| Receivable Days | 130 | 51 | 64 | 55 | ||||||
| Inventory Days | 48 | 22 | 89 | 113 | ||||||
| Payable Days | 99 | 75 | 96 | 64 | ||||||
The company was originally incorporated as ‘Electroforce (India) private limited’ on June 14, 2010 under the provision of Companies Act, 1956 issued by the Registrar of Companies, Mumbai. The status of the Company was changed to public limited and the name of the company was changed to Electro Force (India) Limited vide Special Resolution dated April 15, 2023 pursuant to conversion of the Company into public limited Company. The fresh certificate of incorporation consequent to conversion was issued on May 11, 2023 by the Registrar of Companies, Mumbai.
It is an ISO 9001:2015-certified company that designs and manufactures electrical components, metal / plastic contact parts, and supplies these products to the industry players via a business-to-business (B2B) model. The company started in the year 2010 as Electro Force (India). Since inception, the company has been a supplier of high-grade precision metal electrical contact parts and components, connectors and assemblies for applications in electronics, lighting, switchgear and allied industries in India.
Its manufacturing unit is located at Vasai in Maharashtra. It offers end-to-end product solutions to its customers under the B2B model wherein it provides services ranging from designing, manufacturing, quality testing and packaging to logistics. It also offers products in the intermediate stages to many of its customers. Its main focus has been on offering integrated services, mostly to Indian manufacturers of electrical components. It has the ability to perform precision metal stamping, assembly, and moulding. It specializes in designing and manufacturing of precision sheet metal components, high speed metal stamping components, plastic injection mouldings, insert and over moulding, sub-assemblies and value-added services for diverse industries like electronics, lighting and other engineering industries in India.
Business area of the company
The company specializes in providing innovative and advanced manufacturing solutions for complex precision sheet metal components and assemblies to various industries such as Electrical & Electronics, Lighting, & other Engineering industries in India. Its expertise includes product designing, prototyping, and process development for precision sheet metal components & plastic products & assemblies for the electrical & switchgear industry.
Key events and milestones
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