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

• Market Cap: ₹7.71B
• Dividend Yield: 0.24%
• Average Volume (3M): 1.30K
• Price to Earnings (P/E): 13.1
• Beta (1Y): 1.12
• 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: 807
• 30 Day Avg. Volume: 1,297
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: ₹1,312.00
• Price Target Upside: 5.50% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 69 Neutral
• Price Target: ₹1,312.00 ▲(5.50% Upside)

Mallcom (India) Ltd. shows strong financial performance with significant revenue and profit growth, but faces challenges in cash flow management. The technical analysis indicates a bearish trend, and the valuation is reasonable but offers limited dividend yield. These factors combined result in a moderate overall stock score.

Mallcom (India) Ltd. Business Overview & Revenue Model

Company Description

Mallcom (India) Ltd. (MALLCOM) is a leading manufacturer and exporter of personal protective equipment (PPE) based in India. The company operates in the industrial safety sector, offering a comprehensive range of products such as head protection, face protection, hand protection, body protection, and foot protection. Mallcom caters to a variety of industries, including construction, mining, oil and gas, pharmaceuticals, and manufacturing, by providing high-quality safety solutions to ensure worker safety and compliance with global standards.

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 in 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 2023	Dec 2022	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.87B	4.87B	4.21B	3.49B	4.11B	3.08B
Gross Profit	833.86M	899.47M	562.34M	604.73M	833.00M	485.19M
EBITDA	639.54M	608.73M	618.21M	528.22M	616.30M	448.34M
Net Income	574.35M	574.35M	363.16M	326.24M	369.37M	282.68M
Balance Sheet
Total Assets	4.93B	4.93B	3.88B	2.79B	3.54B	2.53B
Cash, Cash Equivalents and Short-Term Investments	189.58M	189.58M	470.00M	285.90M	670.19M	494.96M
Total Debt	1.16B	1.16B	926.92M	533.78M	907.34M	568.50M
Total Liabilities	1.94B	1.94B	1.50B	1.03B	1.51B	1.06B
Stockholders Equity	2.99B	2.99B	2.38B	1.72B	2.03B	1.41B
Cash Flow
Free Cash Flow	0.00	-769.67M	-199.57M	-225.59M	76.08M	-78.51M
Operating Cash Flow	0.00	17.00M	63.75M	12.46M	534.52M	188.23M
Investing Cash Flow	0.00	-431.07M	-97.75M	-19.59M	-750.42M	-115.56M
Financing Cash Flow	0.00	151.82M	794.00K	-14.07M	330.33M	180.98M

Mallcom (India) Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1243.55
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• 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 Neutral. The current price of 1243.55 is below the 20-day moving average (MA) of 1260.26, below the 50-day MA of 1258.64, and below the 200-day MA of 1311.71, indicating a bearish trend. The MACD of -10.92 indicates Positive momentum. The RSI at 49.17 is Neutral, neither overbought nor oversold. The STOCH value of 65.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:MALLCOM.

Mallcom (India) Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IRISDOREME	74 Outperform	₹6.24B	24.65		―	17.85%	96.96%
MALLCOM	69 Neutral	₹7.71B	13.12		0.24%	18.24%	61.77%
SREEL	67 Neutral	₹5.44B	25.71		―	1.98%	-16.28%
Sector *	66 Neutral	CHF35.66B	34.22	14.05%	2.06%	14.16%	-7.90%
BIL	65 Neutral	₹11.24B	39.54		―	29.35%	―
SATIA	64 Neutral	₹8.07B	8.14		0.24%	-9.48%	-44.34%
VARDMNPOLY	45 Neutral	₹4.87B	12.99		―	-6.24%	―