Mallcom manufacturer of PPE, shoes, gloves PU & NBR, etc.
MCAP - 620 CR
Sales FY26 - 539 CR
PAT - 30 CR
PE - 20.6
Has been struggling in FY 26 due to tariffs and volatility in raw materials.
Sales
Exports - 58% (primarily OEM model, white label)
Domestic - 42%
Two new plants came online: a workwear and hand-protection factory in Gujarat (PROTECH, ₹100 Cr capex), and an industrial safety shoes unit in West Bengal (₹25 Cr capex). Both are now commercially operational. Both are in utilization ramp.
They had give discounts for export sales due to weaker demand and various factors such as tariffs, war, fuel, raw materials. But overall business is solid and moat is good, just macro not supporting, hopefully things will change in FY 27 and Revenue will expand due to new plants and utilisation.
Overall I feel its at a bottom considering 52 H - 1520 and 52 L - 929. And Europe deal will accelerate growth. Fingers crossed.