Comrade Appliances Ltd

COMRADE

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Market Cap

₹ 58 Cr

P/E

108.82

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bearish

Risk

HIGH RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Comrade Appliances Limited is a manufacturer specializing in air coolers and electric geysers.

The company operates under both OEM and ODM business models, offering flexibility in design and manufacturing.

It has expanded its operations through the acquisition of Troupe Technologies, enhancing its capabilities in plastic injection molding.

A manufacturing facility in Palghar, Mumbai enables integration from global sourcing to logistics, making it a partner for major brands.

In June 2023, the company launched an IPO, issuing 22,78,000 equity shares to raise Rs 12 Cr for business expansion.

Sector

Consumer Durables

Industry

Electronics - Others

Market Cap

58 Cr

Volatility

High Risk

P/E Ratio

108.8

Industry P/E

53.0

PEG Ratio

2.3

P/B Ratio

2.9

52W High

173.95

52W Low

61.00

Sales CAGR

97.69%

24.57%

21.53%

10Y

—

Profit CAGR

—

47.81%

4.89%

10Y

—

ROE

TTM

-29.52%

5.79%

5.32%

10Y

—

ROCE

TTM

-1.62%

13.63%

13.88%

10Y

—

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
DANLAW	757.05	380 Cr	19.12	4.44	0.00	23.22	24.76	12.45
PRIZOR	274.60	309 Cr	30.44	7.21	0.00	24.17	25.66	13.69
JGTL	579.00	255 Cr	15.85	2.75	1.33	17.33	23.89	14.86
NITIRAJ	191.62	198 Cr	—	2.93	0.78	-0.34	0.39	-0.28
CALCOM	134.10	179 Cr	30.93	3.04	0.00	6.74	9.58	2.18
COMRADE	74.00	58 Cr	108.82	2.85	0.00	-29.52	-1.62	-8.17
FIVECORE	—	40 Cr	1.87	0.34	0.00	19.14	21.35	12.57

Financial Statements

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Standalone Half Yearly Results (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025
Sales	9.94	19	17	41	15
Expenses	12	13	18	34	18
Interest	0.61	0.98	0.86	1.08	1.52
Operating Profit	-2.40	5.82	-1.25	6.28	-3.16
OPM %	-24.14	30.55	-7.44	15.51	-21.28
Other Income	0.03	0.08	0.07	0.03	0.04
Depreciation	0.44	0.65	0.86	1.74	2.25
Profit Before Tax	-3.42	4.27	-2.90	3.49	-6.88
Tax %	25.15	27.87	37.59	32.95	-1.16
Net Profit	-2.56	3.08	-1.81	2.34	-6.97
EPS in Rs	—	—	—	—	—

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	0.58	6.79	22	26	30	27	29	57
Expenses	0.50	6.63	20	24	27	22	26	52
Operating Profit	0.09	0.17	1.29	1.91	2.90	4.49	3.42	5.03
OPM %	14.72	2.44	5.97	7.35	9.77	16.67	11.79	8.77
Other Income	0.01	0.01	0.00	0.03	0.07	0.03	0.11	0.11
Interest	0.02	0.03	0.36	1.13	1.40	1.42	1.59	1.94
Depreciation	0.06	0.14	0.42	0.53	1.25	0.88	1.08	2.60
Profit Before Tax	0.02	0.01	0.51	0.28	0.32	2.22	0.85	0.60
Tax %	0.00	0.00	17.78	29.04	48.15	26.33	38.35	11.00
Net Profit	0.02	0.01	0.42	0.20	0.16	1.64	0.53	0.53
EPS in Rs	—	—	—	—	—	—	—	—
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1.85	2.64	3.32	3.32	5.17	5.25	7.53	7.78
Reserves	0.02	0.43	-0.39	1.31	1.19	1.64	9.40	15
Borrowings	1.47	2.35	4.01	14	11	14	14	27
Other Liabilities	0.53	2.41	9.85	13	9.01	7.13	9.06	24
Total Liabilities	3.87	7.83	17	31	27	28	40	73
Fixed Assets	1.89	2.81	2.70	4.95	5.59	4.42	6.03	24
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	1.98	5.02	14	26	21	23	34	50
Total Assets	3.87	7.83	17	31	27	28	40	73

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.53	-1.72	1.45	-1.71	4.90	-0.16	-5.99	4.56
Cash from Investing Activity	-2.00	-1.06	-1.16	-3.47	-0.38	-0.94	-2.63	-20
Cash from Financing Activity	2.57	2.76	-0.24	5.49	-4.28	1.44	8.70	14
Net Cash Flow	0.03	-0.02	0.05	0.31	0.24	0.34	0.08	-2.02

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025
Promoters	69.74%	69.74%	69.74%	70.53%	70.05%	69.85%
FIIs	8.53%	5.47%	5.47%	5.33%	5.30%	5.33%
DIIs	2.26%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	19.47%	24.79%	24.79%	24.14%	24.66%	24.82%
Total Shareholders	531	209	236	372	523	487

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 04, 2025	Sherwood securities pvt ltd	Bulk	Buy	66.80	0.01 Cr	1,000	0.01
Sep 05, 2025	Pocketful securities and inve...	Bulk	Buy	101.50	0.41 Cr	40,000	0.51
Jan 09, 2025	Sourabhsoni	Bulk	Buy	167.91	0.89 Cr	53,000	0.68
Jan 08, 2025	Sunil sharma	Bulk	Buy	160.53	0.96 Cr	60,000	0.77
Nov 23, 2024	Mehboob alam	Insider - Promoter	Acquisition	81.75	0.41 Cr	50,000	0.64
Mar 05, 2024	Chaitainya metals pvt ltd	Bulk	Buy	124.25	0.82 Cr	66,000	0.84
Mar 05, 2024	Rashmi lohia	Bulk	Sell	124.25	0.62 Cr	50,000	0.64
Mar 04, 2024	Rashmi lohia	Bulk	Buy	124.00	0.62 Cr	50,000	0.64
Mar 04, 2024	Aditya kumar rungta	Bulk	Sell	124.00	0.57 Cr	46,000	0.59
Feb 27, 2024	Dipti krunal maheshwari	Bulk	Sell	122.02	0.65 Cr	53,000	0.68

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

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Overview

Detailed Summary

Comrade Appliances Limited is a manufacturer specializing in air coolers and electric geysers.

The company operates under both OEM and ODM business models, offering flexibility in design and manufacturing.

It has expanded its operations through the acquisition of Troupe Technologies, enhancing its capabilities in plastic injection molding.

A manufacturing facility in Palghar, Mumbai enables integration from global sourcing to logistics, making it a partner for major brands.

In June 2023, the company launched an IPO, issuing 22,78,000 equity shares to raise Rs 12 Cr for business expansion.

Sector

Consumer Durables

Industry

Electronics - Others

Market Cap

58 Cr

Volatility

High Risk

P/E Ratio

108.8

Industry P/E

53.0

PEG Ratio

2.3

P/B Ratio

2.9

52W High

173.95

52W Low

61.00

Sales CAGR

97.69%

24.57%

21.53%

10Y

—

Profit CAGR

—

47.81%

4.89%

10Y

—

ROE

TTM

-29.52%

5.79%

5.32%

10Y

—

ROCE

TTM

-1.62%

13.63%

13.88%

Comrade Appliances Ltd

COMRADE

AI Mode

Investment Checklist

Investment Checklist

Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

52W High

52W Low

Technicals

Forecasts

Peers

Price Chart Comparison

Financial Statements

AI Powered Summary

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Standalone Half Yearly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

Projection

Actions

Announcements

Documents

AI Mode

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Technicals

Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

52W High

52W Low

Forecasts

Shareholdings

Shareholding History

Market Transactions

Projection

Financial Statements

AI Powered Summary

AI Mode

Standalone Half Yearly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

Oscillators

Bearish

Overall

Bearish

Moving Averages

Bearish

Overall

Bearish

Comrade Appliances Ltd

COMRADE

AI Mode

Documents

Investment Checklist

Peers

Price Chart Comparison

Announcements