Pulz Electronics Ltd
Incorporated in 2005, Pulz Electronics Ltd is in the business of developing and manufacturing high quality Audio systems
- Market Cap ₹ 91.6 Cr.
- Current Price ₹ 42.0
- High / Low ₹ 104 / 37.6
- Stock P/E 14.8
- Book Value ₹ 15.3
- Dividend Yield 0.00 %
- ROCE 27.1 %
- ROE 19.7 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 28.6%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 36.7 to 48.0 days.
- Promoter holding has decreased over last 3 years: -3.71%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Durables Consumer Durables Consumer Electronics
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
9.21 | 11.77 | 12.98 | 13.76 | 18.04 | 24.00 | 31.18 | 8.95 | 19.71 | 44.89 | 46.51 | 37.33 | |
8.75 | 11.30 | 12.31 | 11.55 | 15.72 | 20.60 | 28.42 | 9.64 | 18.07 | 36.00 | 36.30 | 28.93 | |
Operating Profit | 0.46 | 0.47 | 0.67 | 2.21 | 2.32 | 3.40 | 2.76 | -0.69 | 1.64 | 8.89 | 10.21 | 8.40 |
OPM % | 4.99% | 3.99% | 5.16% | 16.06% | 12.86% | 14.17% | 8.85% | -7.71% | 8.32% | 19.80% | 21.95% | 22.50% |
0.06 | 0.13 | 0.10 | 0.30 | 0.50 | 0.80 | 0.69 | 0.92 | 0.59 | 1.08 | 1.53 | -1.93 | |
Interest | 0.19 | 0.24 | 0.21 | 0.19 | 0.25 | 0.21 | 0.07 | 0.03 | 0.04 | 0.06 | 0.06 | 0.02 |
Depreciation | 0.17 | 0.19 | 0.20 | 0.19 | 0.22 | 0.41 | 0.57 | 0.55 | 0.51 | 0.71 | 0.71 | 0.69 |
Profit before tax | 0.16 | 0.17 | 0.36 | 2.13 | 2.35 | 3.58 | 2.81 | -0.35 | 1.68 | 9.20 | 10.97 | 5.76 |
Tax % | 37.50% | 94.12% | 13.89% | 37.56% | 30.64% | 31.01% | 23.49% | -8.57% | 81.55% | 26.63% | 24.61% | 27.43% |
0.10 | 0.01 | 0.30 | 1.34 | 1.62 | 2.46 | 2.14 | -0.32 | 0.31 | 6.74 | 8.28 | 4.17 | |
EPS in Rs | 0.25 | 0.02 | 0.75 | 0.84 | 0.74 | 1.12 | 0.98 | -0.15 | 0.14 | 3.09 | 3.80 | 1.91 |
Dividend Payout % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | 5.55% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% |
Compounded Sales Growth | |
---|---|
10 Years: | 12% |
5 Years: | 4% |
3 Years: | 24% |
TTM: | -20% |
Compounded Profit Growth | |
---|---|
10 Years: | 90% |
5 Years: | 24% |
3 Years: | 168% |
TTM: | -25% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 66% |
3 Years: | 59% |
1 Year: | -58% |
Return on Equity | |
---|---|
10 Years: | 21% |
5 Years: | 21% |
3 Years: | 29% |
Last Year: | 20% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 0.50 | 0.50 | 0.50 | 2.00 | 2.73 | 2.73 | 5.45 | 5.45 | 5.45 | 10.90 | 10.90 | 21.81 |
Reserves | 1.45 | 1.69 | 1.99 | 1.83 | 6.26 | 8.72 | 7.81 | 7.48 | 8.80 | 10.03 | 18.31 | 11.57 |
2.23 | 1.56 | 1.74 | 1.55 | 1.97 | 0.05 | 0.06 | -0.00 | -0.00 | 0.16 | 0.29 | 0.39 | |
4.95 | 5.63 | 4.73 | 6.16 | 7.05 | 9.15 | 8.39 | 6.47 | 8.01 | 11.00 | 9.64 | 7.13 | |
Total Liabilities | 9.13 | 9.38 | 8.96 | 11.54 | 18.01 | 20.65 | 21.71 | 19.40 | 22.26 | 32.09 | 39.14 | 40.90 |
2.56 | 2.83 | 2.95 | 2.84 | 2.96 | 4.02 | 3.72 | 2.56 | 2.70 | 3.56 | 3.50 | 4.44 | |
CWIP | 0.04 | 0.04 | 0.04 | 0.06 | 0.38 | 0.37 | 0.23 | 0.59 | 0.30 | 0.69 | 1.02 | -0.00 |
Investments | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | 0.90 | 0.90 | 0.91 |
6.53 | 6.51 | 5.97 | 8.64 | 14.67 | 16.26 | 17.76 | 16.25 | 19.26 | 26.94 | 33.72 | 35.55 | |
Total Assets | 9.13 | 9.38 | 8.96 | 11.54 | 18.01 | 20.65 | 21.71 | 19.40 | 22.26 | 32.09 | 39.14 | 40.90 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-0.38 | 1.10 | 0.40 | 0.31 | 0.61 | 0.04 | 2.29 | -1.40 | 1.86 | 0.60 | 4.66 | 2.96 | |
-1.57 | -0.24 | -0.29 | -0.10 | -0.66 | -1.46 | -0.13 | 0.24 | -0.36 | -1.95 | -0.98 | -3.57 | |
1.89 | -0.88 | -0.06 | -0.19 | 3.35 | -0.20 | -0.38 | -0.00 | -0.04 | -0.38 | 0.23 | 0.07 | |
Net Cash Flow | -0.07 | -0.02 | 0.05 | 0.02 | 3.30 | -1.62 | 1.78 | -1.16 | 1.46 | -1.73 | 3.90 | -0.54 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 13.87 | 21.40 | 28.40 | 82.50 | 21.65 | 19.16 | 22.71 | 75.85 | 52.04 | 37.16 | 24.96 | 48.01 |
Inventory Days | 357.25 | 260.14 | 198.14 | 318.57 | 323.90 | 365.00 | 204.00 | 650.38 | 286.74 | 208.51 | 239.98 | 364.23 |
Days Payable | 134.07 | 46.41 | 42.24 | 96.43 | 72.37 | 126.16 | 88.17 | 268.47 | 141.94 | 73.29 | 70.24 | 58.70 |
Cash Conversion Cycle | 237.06 | 235.13 | 184.31 | 304.64 | 273.17 | 258.00 | 138.54 | 457.77 | 196.83 | 172.38 | 194.70 | 353.54 |
Working Capital Days | 131.57 | 85.59 | 88.58 | 76.93 | 78.10 | 72.39 | 64.85 | 316.06 | 145.19 | 120.26 | 146.28 | 167.98 |
ROCE % | 11.33% | 10.34% | 14.04% | 48.28% | 31.82% | 33.75% | 23.21% | -3.05% | 12.73% | 52.41% | 43.41% | 27.09% |
Documents
Announcements
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Shareholders meeting
6 September 2025 - AGM on 29 Sep 2025: adopt FY2024-25 accounts, auditors, RPTs up to Rs15 crore, waive excess remuneration Rs7.00L and Rs35.10L
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Updates
6 September 2025 - Register closed 23–29 Sep 2025; cut-off 22 Sep; e-voting 26–28 Sep 2025.
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Appointment
3 September 2025 - Board re-appointed auditors, approved Annual Report; AGM on 29 Sep 2025; e-voting 26–28 Sep.
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Outcome of Board Meeting
3 September 2025 - Board re-appointed auditors, approved annual report; AGM on 29 Sep 2025; e-voting 26–28 Sep.
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
10 July 2025 - Non-applicability of SEBI Reg 74(5) certificate for Q1 FY2025; all shares in demat form.
Business Overview:[1]
Company develops and manufactures audio systems and solutions using new coaxial technology and line array based speaker systems for cinema, pro audio, studio and home audio industries. Its key components are manufactured in Germany, Italy and Spain