Pulz Electronics Ltd.

•

pulz.bizBSE: -NSE: PULZ

Market Cap₹ 48 Cr.

Current Price

High / Low₹ 44 / 21

Stock P/E13.5

Book Value₹ 12

Price to Book3.38

Dividend Yield0.00 %

ROCE9.7 %

ROE7.0 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 29.9%
Company has a good return on equity (ROE) track record: 3 Years ROE 22.2%
Operating margins have improved to 17.0% from 13.9%
Company comfortably covers its interest (44.8x coverage)

CONS

Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.22x)
Company has delivered a poor profit growth of -2.3% over past five years
Company has delivered a poor sales growth of 1.3% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsElectricalsElectronics - Components

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SYRMA	1458.95	76.42	28133.00	0.10	105.69	111.72	1588.62	68.29	17.70	10.17
2.	KAYNES	3590.00	69.61	24065.44	0.00	56.43	-24.37	946.02	40.47	13.38	15.60
3.	AVALON	2196.75	109.97	14692.37	0.00	34.87	145.31	484.41	49.83	20.34	11.96
4.	UTLSOLAR	433.60	44.77	13178.36	0.00	577.94	—	13456.93	—	40.63	18.94
5.	CYIENTDLM	856.20	82.78	6796.80	0.00	16.29	118.21	373.80	34.25	10.41	9.93
6.	VIKRAMSOLR	168.45	17.11	6103.86	0.00	19.78	-85.17	1563.09	37.89	34.07	8.06
7.	SAATVIKGL	422.55	21.65	5370.82	0.00	5.36	-95.49	511.01	-44.20	55.18	6.62
8.	WEBELSOLAR	74.65	10.70	3241.03	0.33	77.79	—	372.60	115.39	63.74	33.70
9.	KERNEX	1812.80	15.97	3046.16	0.00	109.85	1382.00	503.58	800.38	23.69	32.33
10.	MODINSULAT	437.70	21.91	2063.49	0.00	29.60	94.43	188.30	33.19	10.53	16.89
11.	INA	90.28	9.94	1990.24	0.00	380.25	796.94	7406.98	1766.82	34.98	9.74
12.	PULZ	22.10	10.38	48.20	0.00	—	—	—	—	18.44	—

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

No standalone quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	13	14	18	24	28	6	13	29	32	30
	12	12	16	21	26	6	11	22	24	25
Operating Profit	1	2	2	3	3	-1	1	7	8	5
OPM %	5.25%	16.06%	12.26%	14.17%	9.21%	-11.13%	10.65%	24.08%	26.19%	17.03%
	0	0	1	1	1	1	0	1	0	-2
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	1	1	1	1	0	0
Profit before Tax	0	2	2	4	3	-0	1	7	8	2
Tax %	16.06%	37.22%	30.64%	31.05%	23.60%	6.81%	19.96%	26.57%	24.07%	26.19%
Net Profit	0	1	2	2	2	-0	1	5	6	2
EPS	0.00	0.00	0.00	0.00	0.00	-0.60	1.79	4.75	5.68	0.84
Dividend Payout %	0.00%	0.00%	0.00%	5.53%	0.00%	0.00%	0.00%	2.11%	0.00%	0.00%

COMPOUNDED SALES GROWTH

10 Years:: 10%
5 Years:: 1%
3 Years:: 34%

COMPOUNDED PROFIT GROWTH

10 Years:: 70%
5 Years:: -2%
3 Years:: 23%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 26%
3 Years:: -36%
1 Year:: -46%

RETURN ON EQUITY

10 Years:: 19%
5 Years:: 14%
3 Years:: 22%
Last Year:: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0	2	3	3	5	5	5	11	11	22
	2	2	6	9	8	7	8	8	14	5
	4	3	4	0	0	0	0	0	0	0
Trade Payables	1	1	2	4	4	4	4	4	4	2
	2	3	4	5	4	2	2	4	6	5
Total Liabilities	9	12	18	21	21	18	20	27	35	33
	3	3	3	4	4	3	3	3	2	2
Capital Work in Progress	0	0	0	0	0	1	0	1	1	1
	0	0	0	0	0	0	0	1	1	1
	4	4	7	11	9	9	8	14	15	13
	0	0	0	0	0	0	0	0	1	4
Cash & Bank	0	0	3	2	3	1	3	0	3	4
	2	4	4	4	5	5	6	9	12	8
Total Assets	9	12	18	21	21	18	20	27	35	33

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0	1	1	1	3	-2	2	1	3	2
Cash from Investing	-0	-0	-1	-1	-0	0	-0	-1	-2	-2
Cash from Financing	-0	-0	3	-0	-0	-0	-0	0	-0	-0
	0	0	3	-2	2	-2	1	-2	1	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	6.02	6.70	5.98	9.04	3.77	-0.60	1.79	4.75	5.68	0.84
Book Value (₹)	49.78	19.15	32.98	42.03	24.17	23.57	25.36	17.37	23.05	12.36
Dividend per Share (₹)	0.00	0.00	0.00	0.50	0.00	0.00	0.00	0.10	0.00	0.00
Cash EPS (₹)	0.31	0.95	0.85	1.32	1.20	0.10	0.68	2.65	3.05	1.03
PROFITABILITY
Operating Margin %	5.60%	16.96%	15.38%	17.51%	11.66%	3.99%	13.88%	26.41%	26.19%	17.03%
Net Margin %	2.20%	9.05%	8.89%	10.27%	7.23%	-5.74%	7.68%	17.73%	19.34%	6.03%
ROE %	12.87%	42.43%	25.43%	24.11%	16.67%	-2.53%	7.33%	31.60%	28.08%	7.02%
ROCE %	14.18%	48.38%	31.79%	33.71%	22.20%	-2.50%	9.42%	43.13%	36.94%	9.68%
	3.26%	13.03%	11.03%	12.75%	9.83%	-1.66%	5.08%	21.95%	20.01%	5.36%
EFFICIENCY
Debtor Days	23	51	42	18	23	154	79	41	24	26
Inventory Days	111	102	117	135	124	548	236	135	163	168
Payable Days	42	77	66	91	95	531	231	118	106	68
	91	75	92	62	51	171	83	57	81	126
FINANCIAL HEALTH
Debt to Equity (x)	0.70x	0.41x	0.22x	0.00x	0.00x	0.00x	0.00x	0.01x	0.00x	0.00x
Interest Coverage (x)	2.73x	12.23x	10.50x	17.90x	45.80x	-12.06x	35.39x	141.28x	189.22x	44.82x
	1.35x	1.53x	2.07x	1.74x	2.20x	2.99x	2.99x	3.01x	5.11x	7.47x
GROWTH
Revenue Growth %	10.27%	5.98%	31.05%	33.07%	18.39%	-79.83%	122.03%	129.56%	9.57%	-5.34%
Operating Profit Growth %	27.02%	227.28%	12.33%	48.96%	-21.16%	-93.10%	672.55%	336.64%	12.23%	-36.80%
Net Profit Growth %	3244.44%	345.28%	21.61%	51.26%	-16.73%	-116.01%	397.22%	429.89%	19.52%	-70.47%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	19.52%	-85.23%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	11.01x	49.82x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.42x	3.38x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	15.45x	15.93x

Shareholding Pattern

Numbers in percentages

	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	73.37	73.37	73.26	69.66	69.66	69.66	69.66	68.98
	0.00	0.00	0.00	0.00	0.48	0.48	0.48	0.39
	0.00	0.00	0.00	0.00	0.00	0.48	0.53	0.28
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	26.63	26.63	26.74	30.34	29.86	29.38	29.33	30.36

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for PULZ

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Pulz Electronics Ltd.

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Name

SYRMA

1458.95

76.42

28133.00

0.10

105.69

111.72

1588.62

68.29

17.70

10.17

KAYNES

3590.00

69.61

24065.44

0.00

56.43

-24.37

946.02

40.47

13.38

15.60

AVALON

2196.75

109.97

14692.37

0.00

34.87

145.31

484.41

49.83

20.34

11.96

UTLSOLAR

433.60

44.77

13178.36

0.00

577.94

—

13456.93

—

40.63

18.94

CYIENTDLM

856.20

82.78

6796.80

0.00

16.29

118.21

373.80

34.25

10.41

9.93

VIKRAMSOLR

168.45

17.11

6103.86

0.00

19.78

-85.17

1563.09

37.89

34.07

8.06

SAATVIKGL

422.55

21.65

5370.82

0.00

5.36

-95.49

511.01

-44.20

55.18

6.62

WEBELSOLAR

74.65

10.70

3241.03

0.33

77.79

—

372.60

115.39

63.74

33.70

KERNEX

1812.80

15.97

3046.16

0.00

109.85

1382.00

503.58

800.38

23.69

32.33

MODINSULAT

437.70

21.91

2063.49

0.00

29.60

94.43

188.30

33.19

10.53

16.89

INA

90.28

9.94

1990.24

0.00

380.25

796.94

7406.98

1766.82

34.98

9.74

PULZ

22.10

10.38

48.20

0.00

—

18.44

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Operating Profit

-1

OPM %

5.25%

16.06%

12.26%

14.17%

9.21%

-11.13%

10.65%

24.08%

26.19%

17.03%

-2

Interest

Depreciation

Profit before Tax

-0

Tax %

16.06%

37.22%

30.64%

31.05%

23.60%

6.81%

19.96%

26.57%

24.07%

26.19%

Net Profit

-0

EPS

0.00

-0.60

1.79

4.75

5.68

0.84

Dividend Payout %

0.00%

5.53%

0.00%

2.11%

0.00%

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Trade Payables

Total Liabilities

Capital Work in Progress

Cash & Bank

Total Assets

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-2

Cash from Investing

-0

-1

-0

-1

-2

Cash from Financing

-0

-2

-1

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

6.02

6.70

5.98

9.04

3.77

-0.60

1.79

4.75

5.68

0.84

Book Value (₹)

49.78

19.15

32.98

42.03

24.17

23.57

25.36

17.37

23.05

12.36

Dividend per Share (₹)

0.00

0.50

0.00

0.10

0.00

Cash EPS (₹)

0.31

0.95

0.85

1.32

1.20

0.10

0.68

2.65

3.05

1.03

PROFITABILITY

Operating Margin %

5.60%

16.96%

15.38%

17.51%

11.66%

3.99%

13.88%

26.41%

26.19%

17.03%

Net Margin %

2.20%

9.05%

8.89%

10.27%

7.23%

-5.74%

7.68%

17.73%

19.34%

6.03%

ROE %

12.87%

42.43%

25.43%

24.11%

16.67%

-2.53%

7.33%

31.60%

28.08%

7.02%

ROCE %

14.18%

48.38%

31.79%

33.71%

22.20%

-2.50%

9.42%

43.13%

36.94%

9.68%

3.26%

13.03%

11.03%

12.75%

9.83%

-1.66%

5.08%

21.95%

20.01%

5.36%

EFFICIENCY

Debtor Days

154

Inventory Days

111

102

117

135

124

548

236

135

163

168

Payable Days

531

231

118

106

171

126

FINANCIAL HEALTH

Debt to Equity (x)

0.70x

0.41x

0.22x

0.00x

0.01x

0.00x

Interest Coverage (x)

2.73x

12.23x

10.50x

17.90x

45.80x

-12.06x

35.39x

141.28x

189.22x

44.82x

1.35x

1.53x

2.07x

1.74x

2.20x

2.99x

3.01x

5.11x

7.47x

GROWTH

Revenue Growth %

10.27%

5.98%

31.05%

33.07%

18.39%

-79.83%

122.03%

129.56%

9.57%

-5.34%

Operating Profit Growth %

27.02%

227.28%

12.33%

48.96%

-21.16%

-93.10%

672.55%

336.64%

12.23%

-36.80%

Net Profit Growth %

3244.44%

345.28%

21.61%

51.26%

-16.73%

-116.01%

397.22%

429.89%

19.52%

-70.47%

0.00%

19.52%

-85.23%

VALUATION

P/E (x)

0.00x

11.01x

49.82x

P/B (x)

0.00x

5.42x

3.38x

Dividend Yield %

0.00%

0.00x

15.45x

15.93x

Sep 2022

Mar 2023

Sep 2023

Mar 2024

Sep 2024

Mar 2025

Sep 2025

Mar 2026

73.37

73.26

69.66

68.98

0.00

0.48

0.39

0.00

0.48

0.53

0.28

Government

0.00

26.63

26.74

30.34

29.86

29.38

29.33

30.36

Pulz Electronics Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Pulz Electronics Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI