Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹21.00, the stock trades at a trailing P/E ratio of 24.1x. Average trailing P/E is 24x in the Electrical industry in India. Total loss to shareholders of 35% over the past year. New Risk • Mar 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹430.6m market cap, or US$4.60m). Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Revenue is less than US$5m (₹464m revenue, or US$5.0m). New Risk • Mar 19
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ₹464m (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹484.4m market cap, or US$5.19m). Minor Risk Revenue is less than US$5m (₹464m revenue, or US$5.0m). Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₹20.05, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 23x in the Electrical industry in India. Total loss to shareholders of 46% over the past year. New Risk • Nov 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹865.8m (US$9.76m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹865.8m market cap, or US$9.76m). Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). Announcement • Nov 13
Electro Force (India) Limited to Report First Half, 2026 Results on Nov 13, 2025 Electro Force (India) Limited announced that they will report first half, 2026 results on Nov 13, 2025 Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹43.25, the stock trades at a trailing P/E ratio of 79x. Average trailing P/E is 36x in the Electrical industry in India. Total loss to shareholders of 36% over the past year. New Risk • Oct 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹865.8m (US$9.75m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹865.8m market cap, or US$9.75m). Minor Risk Profit margins are more than 30% lower than last year (2.4% net profit margin). New Risk • Sep 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (2.4% net profit margin). Market cap is less than US$100m (₹947.7m market cap, or US$10.8m). Announcement • Sep 08
Electro Force (India) Limited, Annual General Meeting, Sep 27, 2025 Electro Force (India) Limited, Annual General Meeting, Sep 27, 2025, at 15:00 Indian Standard Time. Reported Earnings • Sep 08
Full year 2025 earnings released: EPS: ₹0.55 (vs ₹3.03 in FY 2024) Full year 2025 results: EPS: ₹0.55 (down from ₹3.03 in FY 2024). Revenue: ₹533.3m (up 46% from FY 2024). Net income: ₹12.8m (down 78% from FY 2024). Profit margin: 2.4% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. New Risk • Jun 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Revenue is less than US$5m (₹289m revenue, or US$3.4m). Market cap is less than US$100m (₹1.17b market cap, or US$13.7m). Board Change • May 14
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Executive Director Santosh Palaria is the most experienced director on the board, commencing their role in 2023. Independent Non-Executive Director Krishnakumar Bangera was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Mar 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹864.6m (US$9.96m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹864.6m market cap, or US$9.96m). Minor Risk Revenue is less than US$5m (₹289m revenue, or US$3.3m). Announcement • Jan 02
Electro Force (India) Limited Appoints Krishnakumar Laxman Bangera as Non Executive-Independent Director Electro Force (India) Limited at its 14th Annual General Meeting held on December 30, 2024, approved the appointment of Mr. Krishnakumar Laxman Bangera as Non Executive-Independent Director of the Company. Brief profile: Mr. Krishnakumar Laxman Bangera, aged 73 yrs, holds diploma in Computer Programming. He has a varied and rich working experience in organisations across teams from different cultures. He has a track record of successfully managing organisations. Currently, he is on the Board of Global Exchange Company Private Limited and Artemis Electricals and Projects Limited. Directorship details in Listed entities: Name of Companies: Artemis Electricals and Projects Limited; Category of Directorship: Non Executive Independent Director; Membership in the Committee: 1. Audit Committee; 2. Nomination and Renumeration Committee; 3. Stakeholders Relationship Committee. Announcement • Dec 10
Electro Force (India) Limited, Annual General Meeting, Dec 30, 2024 Electro Force (India) Limited, Annual General Meeting, Dec 30, 2024, at 11:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹78.45, the stock trades at a trailing P/E ratio of 31.9x. Average trailing P/E is 40x in the Machinery industry in India. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹75.95, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 40x in the Machinery industry in India. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹97.80, the stock trades at a trailing P/E ratio of 28.6x. Average trailing P/E is 35x in the Machinery industry in India. New Risk • Mar 31
New major risk - Revenue and earnings growth Revenue has declined by 12% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 12% over the past year. High level of non-cash earnings (65% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Share price has been volatile over the past 3 months (9.9% average weekly change). Revenue is less than US$5m (₹303m revenue, or US$3.6m). Market cap is less than US$100m (₹1.92b market cap, or US$23.0m). Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹85.65, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 32x in the Machinery industry in India. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₹140, the stock trades at a trailing P/E ratio of 41x. Average trailing P/E is 34x in the Machinery industry in India. Board Change • Dec 26
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Independent Director Dilip Swarnkar is the most experienced director on the board, commencing their role in 2023. Non-Executive Independent Director Priyanka Yadav was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.