BSE: 543921 | NSE: | Consumer Durables - Domestic Appliances | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Comrade Appliances Ltd is a below average quality company.
The key valuation ratios of Comrade Appliances Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Comrade Appliances 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'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|
| ROCE % ⓘ | 12.6% | 11% | 11.6% | 20% | 9.8% | - |
| Value Creation Index ⓘ | -0.1 | -0.2 | -0.2 | 0.4 | -0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||
| Sales ⓘ | 21.6 | 26 | 29.7 | 27 | 29 | 29 |
| Sales YoY Gr. | - | 20.3% | 14% | -9.1% | 7.5% | - |
| Adj EPS ⓘ | 1.3 | 0.6 | 0.8 | 3.1 | 0.7 | 0.7 |
| YoY Gr. | - | -55.6% | 33.9% | 316% | -77.6% | - |
| BVPS (₹) ⓘ | 8.8 | 7.3 | 9.7 | 13.1 | 22.5 | 24.7 |
| Adj Net Profit ⓘ | 0.4 | 0.2 | 0.4 | 1.6 | 0.5 | 1 |
| Cash Flow from Ops. ⓘ | 1.5 | -1.7 | 4.5 | -0.2 | -6 | - |
| Debt/CF from Ops. ⓘ | 2.8 | -8.2 | 2.5 | -86.3 | -2.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 3.7% | 7.5% | ||||
| Adj EPS ⓘ | NA | NA | 7.7% | -77.6% | ||||
| BVPSⓘ | NA | NA | 45.7% | 71.3% | ||||
| Share Price | - | - | - | -19.8% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 14.3 | 4.9 | 8 | 27.5 | 4.4 | 2.9 |
| Op. Profit Mgn % ⓘ | 6 | 7.4 | 9.9 | 16.7 | 12 | NAN |
| Net Profit Mgn % ⓘ | 1.9 | 0.7 | 1.3 | 6.1 | 1.8 | 1.8 |
| Debt to Equity ⓘ | 1.4 | 5.8 | 2.2 | 2 | 0.8 | - |
| Working Cap Days ⓘ | 0 | 282 | 288 | 292 | 351 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 139 | 150 | 176 | 216 | 0 |
Debt to equity has declined versus last 3 years average to 0.82
Return on Equity has declined versus last 3 years average to 2.90%
Sales growth has been subdued in last 3 years 3.70%
Net Profit has been subdued in last 3 years 7.72%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.7 | - |
| TTM Sales (₹ Cr.) | 29 | - |
| BVPS (₹.) ⓘ | 24.7 | - |
| Reserves (₹ Cr.) ⓘ | 11 | - |
| P/BV ⓘ | 4.71 | - |
| PE ⓘ | 171.51 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 67.50 / 151.00 |
| All Time Low / High (₹) | 67.50 / 174.90 |
| Market Cap (₹ Cr.) | 90.1 |
| Equity (₹ Cr.) | 7.7 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 67.1 |
| Pledged * | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Sales | 21.62 | 26 | 29.65 | 26.96 | 28.99 |
| Operating Expenses ⓘ | 20.33 | 24.09 | 26.71 | 22.46 | 25.50 |
| Manufacturing Costs | 1.43 | 1.57 | 1.01 | 0.84 | 0.29 |
| Material Costs | 16.90 | 20.26 | 21.49 | 17.23 | 19.83 |
| Employee Cost | 0.74 | 0.76 | 1.30 | 1.51 | 1.67 |
| Other Costs ⓘ | 1.26 | 1.51 | 2.91 | 2.88 | 3.71 |
| Operating Profit ⓘ | 1.29 | 1.91 | 2.94 | 4.50 | 3.49 |
| Operating Profit Margin (%) | 6.0% | 7.4% | 9.9% | 16.7% | 12.0% |
| Other Income ⓘ | 0 | 0.03 | 0.08 | 0.03 | 0.11 |
| Interest ⓘ | 0.36 | 1.13 | 1.48 | 1.43 | 1.67 |
| Depreciation ⓘ | 0.42 | 0.53 | 1 | 0.88 | 1.08 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 0.51 | 0.28 | 0.54 | 2.22 | 0.85 |
| Tax ⓘ | 0.09 | 0.08 | 0.16 | 0.58 | 0.33 |
| Profit After Tax | 0.42 | 0.20 | 0.39 | 1.64 | 0.53 |
| PAT Margin (%) | 1.9% | 0.8% | 1.3% | 6.1% | 1.8% |
| Adjusted EPS (₹) | 1.3 | 0.6 | 0.8 | 3.1 | 0.7 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 2.93 | 2.42 | 5.02 | 6.89 | 16.93 | |||||
| Share Capital ⓘ | 3.32 | 3.32 | 5.17 | 5.25 | 7.53 | |||||
| Reserves ⓘ | -0.39 | -0.91 | -0.15 | 1.64 | 9.40 | |||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | |||||
| Debt | 3.61 | 12.34 | 9.42 | 11.23 | 12.75 | |||||
| Long Term Debt | 2.14 | 6.40 | 3.94 | 2.23 | 1.80 | |||||
| Short Term Debt | 1.47 | 5.94 | 5.48 | 9 | 10.95 | |||||
| Trade Payables | 6.14 | 8.67 | 6.38 | 5.18 | 7.59 | |||||
| Others Liabilities ⓘ | 4.11 | 7.98 | 4.44 | 4.23 | 2.64 | |||||
| Total Liabilities ⓘ | 16.79 | 31.41 | 25.27 | 27.53 | 39.91 | |||||
Fixed Assets | ||||||||||
| Gross Block | 3.61 | 6.39 | 6.77 | 7.73 | 10.43 | |||||
| Accumulated Depreciation | 0.92 | 1.43 | 2.43 | 3.31 | 4.40 | |||||
| Net Fixed Assetsⓘ | 2.70 | 4.95 | 4.34 | 4.42 | 6.03 | |||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | |||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | |||||
| Inventories | 6.72 | 14.17 | 12.45 | 15.91 | 19.10 | |||||
| Trade Receivables | 5.22 | 8.85 | 6.77 | 5.32 | 8.25 | |||||
| Cash Equivalents | 0.06 | 0.37 | 0.25 | 0.60 | 0.68 | |||||
| Others Assetsⓘ | 2.10 | 3.07 | 1.46 | 1.29 | 5.85 | |||||
| Total Assets ⓘ | 16.79 | 31.41 | 25.27 | 27.53 | 39.91 | |||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 1.45 | -1.71 | 4.48 | -0.16 | -5.99 |
| PBT ⓘ | 0.51 | 0.28 | 0.54 | 2.22 | 0.85 |
| Adjustment ⓘ | 0.75 | 1.51 | 2.79 | 2.03 | 2.27 |
| Changes in Working Capital ⓘ | 0.26 | -3.43 | 1.3 | -3.76 | -9.11 |
| Tax Paid ⓘ | -0.07 | -0.08 | -0.15 | -0.57 | 0 |
| Cash Flow From Investing Activity ⓘ | -1.16 | -3.47 | -0.37 | -0.94 | -2.63 |
| Capex | -1.16 | -2.76 | -0.38 | -0.96 | -2.70 |
| Net Investments | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | -0.71 | 0.02 | 0.02 | 0.07 |
| Cash Flow From Financing Activityⓘ | -0.24 | 5.49 | -4.23 | 1.44 | 8.70 |
| Net Proceeds from Shares ⓘ | 0.29 | 2.22 | -0.37 | 0.23 | 12.30 |
| Net Proceeds from Borrowing ⓘ | -0.21 | 4.26 | -2.46 | -1.12 | -0.43 |
| Interest Paid ⓘ | -0.32 | -0.99 | -1.40 | -1.17 | -1.23 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 3.48 | -1.94 |
| Net Cash Flow ⓘ | 0.05 | 0.31 | -0.11 | 0.34 | 0.08 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 14.25 | 7.55 | 10.42 | 27.45 | 4.41 | |||||
| ROCE (%) | 12.56 | 11.01 | 11.6 | 19.98 | 9.82 | |||||
| Asset Turnover Ratio | 1.29 | 1.08 | 1.05 | 1.02 | 0.86 | |||||
| PAT to CFO Conversion(x) | 3.45 | -8.55 | 11.49 | -0.1 | -11.3 | Working Capital Days | ||||
| Receivable Days | 88 | 99 | 96 | 82 | 85 | |||||
| Inventory Days | 113 | 147 | 164 | 192 | 220 | |||||
| Payable Days | 133 | 133 | 128 | 122 | 117 | |||||
The company was originally incorporated as Comrade Appliances Private Limited on March 22, 2017 vide certificate of incorporation bearing CIN U74999MH2017PTC292817 as a Private Limited Company under the provisions of the Companies Act, 2013 issued by Registrar of Companies, Central Registration Centre. Subsequently, pursuant to a Special Resolution of its Shareholders passed at the Extra-Ordinary General Meeting held on November 10, 2022, the company was converted from a Private Limited Company to Public Limited Company and consequently, the name of The company was changed to ‘Comrade Appliances Limited’ and a Fresh Certificate of Incorporation consequent to Conversion was issued on December 13, 2022 by the Registrar of Companies, Mumbai.
Comrade Appliances is engaged in the process of manufacturing an extensive array of Air Coolers and Electric Geysers. It manufactures consumer durable goods and assemble a wide array of products and provide end-to-end product solutions. It serves under both original equipment manufacturer (OEM) and original design manufacturer (ODM) business models. Under the OEM model, it manufacture and supply products basis designs developed by its customers, who then further distribute these products under their own brands. Under the ODM model, in addition to manufacturing, it conceptualize and design the products which are then marketed to its customers’ prospective customers under their brands. It offers innovative solutions to its customers, which include leading international and national consumer brands. Its comprehensive solution suite includes global sourcing, fabrication of components and parts, captive manufacturing and assembly, quality testing, packaging and logistics support, which enables it to partner with leading consumer goods brands in India. Its key customers include leading brands in consumer durables. It manufactures and sale its products under the brand name of ‘Comrade’.
It has a manufacturing facility located at Palghar, which are strategically located in and around Mumbai (Maharashtra). Its modern and state-of-art manufacturing facilities are equipped with high quality machinery, assembly lines that enable it to meet the quality requirements of its customers in a timely manner. In line with its focus to provide end to-end product solutions and to develop better control on its supply chain and improve its margins.
Business area of the company
The company is engaged in the process of manufacturing an extensive array of Air Coolers and Electric Geysers.
Products of the company
History and milestones
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Claim your FREE 15-day access to the most practical investing handbook.
Hurry, limited to the first 10 users today!
FREE Become a savvy and confident
stock investor.
Hurry, limited to the first 10 users today!
Download APP
