Electro Force (India) Ltd.
•₹ 20.85-5.66%
2026-08-21
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 26.9%
- Company has a good return on equity (ROE) track record: 3 Years ROE 22.9%
- Working capital cycle has improved - days down from 661 to 352
CONS
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (53.8% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.89x)
- Operating cash flow has been negative in recent years
- Equity base is being diluted - shares outstanding up 368.0%
- Operating margins have contracted to 3.0% from 33.3%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SYRMA | 1491.90 | 78.15 | 28768.38 | 0.10 | 105.69 | 111.72 | 1588.62 | 68.29 | 17.70 | 10.17 |
| 2. | KAYNES | 3811.00 | 73.90 | 25546.91 | 0.00 | 56.43 | -24.37 | 946.02 | 40.47 | 14.67 | 15.60 |
| 3. | AVALON | 2240.85 | 112.06 | 14971.51 | 0.00 | 34.87 | 145.31 | 484.41 | 49.83 | 14.12 | 11.96 |
| 4. | UTLSOLAR | 481.20 | 0.00 | 14863.25 | 0.00 | 577.94 | — | 13456.93 | — | 40.63 | 18.94 |
| 5. | VIKRAMSOLR | 170.80 | 17.34 | 6189.01 | 0.00 | 19.78 | -85.17 | 1563.09 | 37.89 | 34.07 | 8.06 |
| 6. | CYIENTDLM | 714.80 | 69.11 | 5674.32 | 0.00 | 16.29 | 118.21 | 373.80 | 34.25 | 10.41 | 9.93 |
| 7. | SAATVIKGL | 399.70 | 20.48 | 5080.39 | 0.00 | 5.36 | -95.49 | 511.01 | -44.20 | 55.18 | 6.62 |
| 8. | CENTUM | 3372.45 | 100.33 | 4978.42 | 0.15 | 10.55 | 135.70 | 204.15 | -22.53 | 26.02 | 11.54 |
| 9. | WEBELSOLAR | 82.79 | 11.86 | 3594.44 | 0.30 | 777.90 | 1511.56 | 3726.00 | 2053.88 | 59.38 | 33.70 |
| 10. | KERNEX | 1870.00 | 16.48 | 3142.28 | 0.00 | 109.85 | 1382.00 | 503.58 | 800.38 | 23.69 | 32.33 |
| 11. | MODINSULAT | 439.60 | 22.01 | 2072.45 | 0.00 | 29.60 | 94.43 | 188.30 | 33.19 | 10.53 | 16.89 |
| 12. | EFORCE | 21.00 | 0.00 | 49.14 | 0.00 | — | — | — | — | 2.77 | — |
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 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 16 | 34 | 30 | 36 | 52 | |
| 17 | 23 | 19 | 28 | 51 | |
| Operating Profit | -1 | 11 | 12 | 9 | 2 |
| OPM % | -9 | 33 | 39 | 25 | 5 |
| Other Income | 0 | 0 | 0 | 0 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 |
| -2 | 11 | 11 | 8 | 2 | |
| Tax % | 2 | 18 | 28 | 27 | 26 |
| Net Profit | -2 | 9 | 8 | 6 | 1 |
| EPS | -4 | 17 | 4 | 2 | 1 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | -1 | 5 | 1 | 2 | 1 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | -1 | 5 | 1 | 2 | 1 |
Mar 2021
- 16
- 17
- Operating Profit
- -1
- OPM %
- -9
- Other Income
- 0
- Interest
- 0
- Depreciation
- 1
- -2
- Tax %
- 2
- Net Profit
- -2
- EPS
- -4
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
Mar 2022
- 34
- 23
- Operating Profit
- 11
- OPM %
- 33
- Other Income
- 0
- Interest
- 0
- Depreciation
- 1
- 11
- Tax %
- 18
- Net Profit
- 9
- EPS
- 17
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
Mar 2023
- 30
- 19
- Operating Profit
- 12
- OPM %
- 39
- Other Income
- 0
- Interest
- 0
- Depreciation
- 1
- 11
- Tax %
- 28
- Net Profit
- 8
- EPS
- 4
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2024
- 36
- 28
- Operating Profit
- 9
- OPM %
- 25
- Other Income
- 0
- Interest
- 0
- Depreciation
- 1
- 8
- Tax %
- 27
- Net Profit
- 6
- EPS
- 2
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2025
- 52
- 51
- Operating Profit
- 2
- OPM %
- 5
- Other Income
- 1
- Interest
- 0
- Depreciation
- 1
- 2
- Tax %
- 26
- Net Profit
- 1
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 15%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -47%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -49%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 16%
- 3 Years:
- 23%
- Last Year:
- 2%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - |
| Equity Capital | 5 | 5 | 17 | 23 | 23 |
| -3 | 5 | 1 | 47 | 48 | |
| Trade Payables | 4 | 4 | 4 | 4 | 4 |
| 12 | 33 | 50 | 11 | 1 | |
| Total Liabilities | 17 | 47 | 72 | 85 | 76 |
| ASSETS | - | - | - | - | - |
| 7 | 3 | 3 | 3 | 2 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 18 |
| 2 | 2 | 13 | 10 | 13 | |
| 0 | 0 | 0 | 4 | 21 | |
| Cash & Bank | 1 | 10 | 1 | 1 | 2 |
| 7 | 32 | 55 | 67 | 20 | |
| Total Assets | 17 | 47 | 72 | 85 | 76 |
| Total Debt | 6 | 9 | 0 | 0 | 0 |
| Net Working Capital | 0 | 15 | 15 | 66 | 50 |
| Contingent Liabilities | 2 | 2 | 2 | 1 | 1 |
| Book Value per Share | 3.43 | 20.71 | 10.55 | 30.00 | 30.55 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 6 | 9 | 0 | 0 | 0 |
| Net Working Capital | 0 | 15 | 15 | 66 | 50 |
| Contingent Liabilities | 2 | 2 | 2 | 1 | 1 |
| Book Value per Share | 3.43 | 20.71 | 10.55 | 30.00 | 30.55 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2021
- Equity Capital
- 5
- -3
- Trade Payables
- 4
- 12
- Total Liabilities
- 17
- 7
- Capital Work in Progress
- 0
- 2
- 0
- Cash & Bank
- 1
- 7
- Total Assets
- 17
- Total Debt
- 6
- Net Working Capital
- 0
- Contingent Liabilities
- 2
- Book Value per Share
- 3.43
- Face Value
- 10.00
- Total Debt
- 6
- Net Working Capital
- 0
- Contingent Liabilities
- 2
- Book Value per Share
- 3.43
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 5
- 5
- Trade Payables
- 4
- 33
- Total Liabilities
- 47
- 3
- Capital Work in Progress
- 0
- 2
- 0
- Cash & Bank
- 10
- 32
- Total Assets
- 47
- Total Debt
- 9
- Net Working Capital
- 15
- Contingent Liabilities
- 2
- Book Value per Share
- 20.71
- Face Value
- 10.00
- Total Debt
- 9
- Net Working Capital
- 15
- Contingent Liabilities
- 2
- Book Value per Share
- 20.71
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 17
- 1
- Trade Payables
- 4
- 50
- Total Liabilities
- 72
- 3
- Capital Work in Progress
- 0
- 13
- 0
- Cash & Bank
- 1
- 55
- Total Assets
- 72
- Total Debt
- 0
- Net Working Capital
- 15
- Contingent Liabilities
- 2
- Book Value per Share
- 10.55
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 15
- Contingent Liabilities
- 2
- Book Value per Share
- 10.55
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 23
- 47
- Trade Payables
- 4
- 11
- Total Liabilities
- 85
- 3
- Capital Work in Progress
- 0
- 10
- 4
- Cash & Bank
- 1
- 67
- Total Assets
- 85
- Total Debt
- 0
- Net Working Capital
- 66
- Contingent Liabilities
- 1
- Book Value per Share
- 30.00
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 66
- Contingent Liabilities
- 1
- Book Value per Share
- 30.00
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 23
- 48
- Trade Payables
- 4
- 1
- Total Liabilities
- 76
- 2
- Capital Work in Progress
- 18
- 13
- 21
- Cash & Bank
- 2
- 20
- Total Assets
- 76
- Total Debt
- 0
- Net Working Capital
- 50
- Contingent Liabilities
- 1
- Book Value per Share
- 30.55
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 50
- Contingent Liabilities
- 1
- Book Value per Share
- 30.55
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 3 | 4 | -0 | -45 | 17 | |
| Cash from Investing | -4 | 3 | -0 | -1 | -16 |
| Cash from Financing | 0 | 3 | -9 | 46 | -0 |
| -0 | 10 | -9 | 0 | 1 | |
| Free Cash Flow | 3 | 4 | -1 | -45 | -1 |
| OCF / Net Profit | -1.35 | 0.42 | -0.03 | -7.79 | 13.38 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 |
| OCF / Net Profit | -1.35 | 0.42 | -0.03 | -7.79 | 13.38 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 |
Mar 2021
- 3
- Cash from Investing
- -4
- Cash from Financing
- 0
- -0
- Free Cash Flow
- 3
- OCF / Net Profit
- -1.35
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -1.35
- Cumulative 5-Year FCF
- 0
Mar 2022
- 4
- Cash from Investing
- 3
- Cash from Financing
- 3
- 10
- Free Cash Flow
- 4
- OCF / Net Profit
- 0.42
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.42
- Cumulative 5-Year FCF
- 0
Mar 2023
- -0
- Cash from Investing
- -0
- Cash from Financing
- -9
- -9
- Free Cash Flow
- -1
- OCF / Net Profit
- -0.03
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.03
- Cumulative 5-Year FCF
- 0
Mar 2024
- -45
- Cash from Investing
- -1
- Cash from Financing
- 46
- 0
- Free Cash Flow
- -45
- OCF / Net Profit
- -7.79
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -7.79
- Cumulative 5-Year FCF
- 0
Mar 2025
- 17
- Cash from Investing
- -16
- Cash from Financing
- -0
- 1
- Free Cash Flow
- -1
- OCF / Net Profit
- 13.38
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 13.38
- Cumulative 5-Year FCF
- 0
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - |
| EPS (₹) | -4.47 | 17.29 | 4.44 | 2.46 | 0.55 |
| Book Value (₹) | 3.43 | 20.71 | 10.55 | 30.00 | 30.55 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | -0.83 | 5.45 | 1.39 | 2.74 | 0.78 |
| PROFITABILITY | - | - | - | - | - |
| Operating Margin % | -9.01% | 33.28% | 38.81% | 24.40% | 2.98% |
| Net Margin % | -14.21% | 25.13% | 25.51% | 15.79% | 2.44% |
| ROE % | -130.45% | 143.18% | 53.76% | 12.99% | 1.81% |
| ROCE % | -29.15% | 79.41% | 58.89% | 18.92% | 2.77% |
| -13.03% | 26.77% | 12.94% | 7.33% | 1.59% | |
| EFFICIENCY | - | - | - | - | - |
| Debtor Days | 130 | 51 | 64 | 55 | 87 |
| Inventory Days | 48 | 22 | 89 | 113 | 81 |
| Payable Days | 99 | 75 | 96 | 64 | 30 |
| 79 | -3 | 57 | 103 | 138 | |
| FINANCIAL HEALTH | - | - | - | - | - |
| Debt to Equity (x) | 3.42x | 0.85x | 0.00x | 0.00x | 0.00x |
| Interest Coverage (x) | -35.70x | 757.76x | 31.07x | 17.04x | 8.84x |
| 1.01x | 1.53x | 1.27x | 5.30x | 11.47x | |
| GROWTH | - | - | - | - | - |
| Revenue Growth % | 0.00% | 118.49% | -12.05% | 20.45% | 43.78% |
| Operating Profit Growth % | 0.00% | 907.27% | 2.57% | -23.06% | -72.35% |
| Net Profit Growth % | 0.00% | 486.37% | -10.70% | -25.46% | -77.74% |
| 0.00% | 0.00% | 0.00% | -44.58% | -77.74% | |
| VALUATION | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 33.36x | 53.83x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 2.73x | 0.96x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 21.12x | 26.85x |
Mar 2021
- EPS (₹)
- -4.47
- Book Value (₹)
- 3.43
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -0.83
- Operating Margin %
- -9.01%
- Net Margin %
- -14.21%
- ROE %
- -130.45%
- ROCE %
- -29.15%
- -13.03%
- Debtor Days
- 130
- Inventory Days
- 48
- Payable Days
- 99
- 79
- Debt to Equity (x)
- 3.42x
- Interest Coverage (x)
- -35.70x
- 1.01x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- 0.00%
- Net Profit Growth %
- 0.00%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 17.29
- Book Value (₹)
- 20.71
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 5.45
- Operating Margin %
- 33.28%
- Net Margin %
- 25.13%
- ROE %
- 143.18%
- ROCE %
- 79.41%
- 26.77%
- Debtor Days
- 51
- Inventory Days
- 22
- Payable Days
- 75
- -3
- Debt to Equity (x)
- 0.85x
- Interest Coverage (x)
- 757.76x
- 1.53x
- Revenue Growth %
- 118.49%
- Operating Profit Growth %
- 907.27%
- Net Profit Growth %
- 486.37%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 4.44
- Book Value (₹)
- 10.55
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.39
- Operating Margin %
- 38.81%
- Net Margin %
- 25.51%
- ROE %
- 53.76%
- ROCE %
- 58.89%
- 12.94%
- Debtor Days
- 64
- Inventory Days
- 89
- Payable Days
- 96
- 57
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 31.07x
- 1.27x
- Revenue Growth %
- -12.05%
- Operating Profit Growth %
- 2.57%
- Net Profit Growth %
- -10.70%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 2.46
- Book Value (₹)
- 30.00
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.74
- Operating Margin %
- 24.40%
- Net Margin %
- 15.79%
- ROE %
- 12.99%
- ROCE %
- 18.92%
- 7.33%
- Debtor Days
- 55
- Inventory Days
- 113
- Payable Days
- 64
- 103
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 17.04x
- 5.30x
- Revenue Growth %
- 20.45%
- Operating Profit Growth %
- -23.06%
- Net Profit Growth %
- -25.46%
- -44.58%
- P/E (x)
- 33.36x
- P/B (x)
- 2.73x
- Dividend Yield %
- 0.00%
- 21.12x
Mar 2025
- EPS (₹)
- 0.55
- Book Value (₹)
- 30.55
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.78
- Operating Margin %
- 2.98%
- Net Margin %
- 2.44%
- ROE %
- 1.81%
- ROCE %
- 2.77%
- 1.59%
- Debtor Days
- 87
- Inventory Days
- 81
- Payable Days
- 30
- 138
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 8.84x
- 11.47x
- Revenue Growth %
- 43.78%
- Operating Profit Growth %
- -72.35%
- Net Profit Growth %
- -77.74%
- -77.74%
- P/E (x)
- 53.83x
- P/B (x)
- 0.96x
- Dividend Yield %
- 0.00%
- 26.85x
Documents
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Annual Reports
Credit Ratings
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Concalls
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