BSE: 543787
Macfos Limited
Sells electronic components and parts through the Robu.in e-commerce platform, listing over 100,000 SKUs from 150+ brand partnerships. The business runs on two pillars: Robu 1.0, a distribution arm that supplies components, modules and parts to retail buyers, contract manufacturers and other B2B customers; and Robu 2.0, a smaller proprietary line covering drones, the SmartElex brand and ProRange components such as sensors, 3D printing filaments and drone motors and propellers. Defence and government bodies have placed initial drone orders, but management has flagged these as low-volume and with a 1-2 year timeline to material impact. Average order value has risen from under ₹5,000 to about ₹7,300 in Q4 FY26, with the step-up attributed to corporate, repeat and B2G buying and to portfolio widening across IoT, drones, robotics and 3D printing. The FY26 cost mix disclosed is dominated by other operating expenses at 7.4% of revenue and employee costs at 4.1%, with capex at 0.8% of revenue. FY26 revenue stood at ₹308.77 crore and PAT at ₹25.65 crore, while Q3 FY26 alone saw 3.96 lakh orders from about 1.3 lakh customers. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Robu 1.0 (electronics distribution), Robu 2.0 (proprietary products). Asset-light, catalogue-driven e-commerce distribution of electronic components, with a small but higher-margin proprietary products line in drones and components.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 125 | 255 | 309 |
| EBITDA (ex other income) | — | — | — |
| margin % | — | — | — |
| Owners' profit | — | — | — |
| EPS, as reported (₹) | 12.25 | 19.14 | 24.75 |
| ROE % · ROCE % | — · 53.4 | — · 36.4 | — · 38.5 |
| Debt / equity (x) | — | — | — |
| Cash from operations | 4 | (25) | (8) |
| Capex | — | (5) | (3) |
Exhibit 2: Quarterly performance, last 6 quarters
| ₹ crore | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 53 | 72 | 147 | 108 | 128 | 181 |
| Profit before tax | 5 | 10 | 14 | 10 | 14 | 21 |
| Net profit | — | — | — | — | — | — |
| EPS (₹) | 4.33 | 7.92 | 11.04 | 8.15 | 10.77 | 14.96 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ETERNAL LIMITED | 3,08,903 | 713.6 | 9.97 | 118.2 | 1.2 | 1.8 | — | 4.8 |
| MEESHO LIMITED | 1,01,174 | — | 23.07 | — | (31.0) | (27.2) | — | (3.0) |
| FSN E COMMERCE VENTURES | 96,401 | 378.1 | 64.18 | 126.3 | 13.6 | 17.8 | — | 8.8 |
| SWIGGY LIMITED | 71,238 | — | 3.89 | — | (22.7) | (20.4) | — | (6.4) |
| URBAN COMPANY LIMITED | 25,441 | — | 11.87 | — | (11.0) | (6.3) | — | (11.4) |
| CARTRADE TECH LIMITED | 14,020 | 60.3 | 5.35 | 41.0 | 9.3 | 10.5 | — | 44.0 |
| BRAINBEES SOLUTIONS LTD | 8,879 | — | 1.66 | 23.3 | (3.8) | (2.4) | — | 4.2 |
| RATTANINDIA ENT LIMITED | 3,746 | — | 4.87 | — | (21.6) | — | 844.9 | 2.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 24.2 | 13.6 | 7 of 10 | 33% |
| ROCE | 35.3 | 1.8 | 1 of 15 | 100% |
| Revenue growth | 150.9 | 16.3 | 2 of 13 | 92% |
| Market cap | 1125 | 2436 | 9 of 16 | 47% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · AGM voting results: all 3 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Chairman shares FY26 results and growth roadmap at AGM | board shareholder meetings | low | — | — |
| 8 Sept 2026 · 9th AGM concluded: 3 resolutions passed, audit reports unqualified | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Macfos 9th AGM: 3 ordinary resolutions passed, director re-appointed | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Macfos appoints scrutinizer for 9th AGM and e-voting process | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Macfos Q1 FY27 revenue up 38 percent to Rs 82.46 Cr, PAT rises 18 percent | investor communications | medium | — | — |
| 11 Aug 2026 · Macfos adopts Ind AS accounting standards from Q1 FY26 | business updates | medium | — | — |
| 11 Aug 2026 · Macfos Q1 FY27 results: Revenue up 37% YoY, PAT rises 17% | results | high | — | — |
| 3 Aug 2026 · Board meeting on 11 Aug 2026 to consider Q1 results and IND AS adoption | results | medium | — | — |
| 10 Jul 2026 · Compliance certificate under SEBI Reg 74(5) for Q1 FY27 | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.