---
title: "Pulz Electronics Ltd (PULZ) — Share Price, Financials & Analysis"
symbol: "PULZ"
company: "Pulz Electronics Ltd"
canonical: "https://tapetide.com/stocks/PULZ"
isin: "INE335X01014"
nse_symbol: "PULZ"
sector: "Consumer Goods"
industry: "Electronics"
market_cap_cr: 51.58
generated_at: "2026-09-13T18:59:10.952Z"
---

# Pulz Electronics Ltd (PULZ)

Canonical page: https://tapetide.com/stocks/PULZ

## Company

- **NSE Symbol:** PULZ
- **ISIN:** INE335X01014
- **Sector:** Consumer Goods
- **Industry:** Electronics
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2017-11-24
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** pulz.co.in

## About

Incorporated in 2005, Pulz Electronics Ltd provides audio systems and solutions.[1]

## Latest Price

- **Price:** ₹23.95
- **Change:** -0.75 (-3.04%)
- **Open:** ₹23.65
- **Day High:** ₹24.7
- **Day Low:** ₹23.5
- **Previous Close:** ₹24.7
- **Volume:** 20000
- **As Of:** 2026-09-11T09:59:06+00:00

## Key Fundamentals

Observed at 2026-09-11T04:39:54.435116Z.

- **Market Cap:** ₹51.58 Cr
- **Classification:** SME
- **P/E (reported):** 11.6
- **Book Value:** ₹17.43
- **Price to Book:** 1.42
- **Dividend Yield:** 0.4%
- **ROE:** 12.48%
- **ROCE:** 16.58%
- **Debt to Equity:** 0.01
- **Revenue (yearly):** ₹33.82 Cr
- **Net Income:** ₹4.58 Cr
- **EBITDA:** ₹6.06 Cr
- **52-Week High:** ₹44.25
- **52-Week Low:** ₹21.35
- **RSI (14):** 56.07

## Tapetide Score

- **Score:** 63 / 100
- **Score date:** 2026-09-04
- **Archetype:** Out of Favour
- **What it means:** Financially sound, yet the market is not rewarding it. Cases like this usually need a specific reason the pessimism is misplaced, and patience for that reason to play out.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Falling
- **Percentile:** 94.2 (of 4473 scored stocks)
- **Confidence:** 98%
- **Data coverage:** 95%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 83.87 | 9% |
| growth | 32.18 | 9% |
| momentum | 30.22 | 12% |
| ownership | 59.98 | 24% |
| quality | 75.09 | 22% |
| valuation | 71.06 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -0.68%
- Debtor days have increased from 49.9 to 71.6 days.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -36.48% | 393.33% | 311.43% |
| ebitda margin growth | 15.09% | -28.91% | -41.8% | 56.02% |
| net income growth | 18.92% | 9.05% | -12% | 69% |
| revenue growth | 13.38% | -11.47% | -9% | 30% |
| roce | 18.83% | -53.83% | -60.42% | 20.73% |
| roe | 19.24% | -55.96% | 24.34% | -597.21% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1.75 | 7.2 | 7.01 | 12.7 | 22.16 | 22.73 | 18.85 | 19.11 | 20.99 | 16.35 | 14.29 | 19.53 |
| Expenses | 2.62 | 7 | 6.85 | 11.22 | 17.97 | 18.04 | 13.65 | 14.12 | 14.9 | 14.04 | 12.24 | 15.52 |
| Operating Profit | -0.87 | 0.2 | 0.16 | 1.48 | 4.19 | 4.69 | 5.2 | 4.99 | 6.09 | 2.31 | 2.05 | 4.01 |
| OPM % | -49.71 | 2.78 | 2.28 | 11.65 | 18.91 | 20.63 | 27.59 | 26.11 | 29.01 | 14.13 | 14.35 | 20.53 |
| Other Income | 0.13 | 0.79 | 0.39 | 0.2 | 0.52 | 0.56 | 0.71 | 0.81 | 0.68 | -2.61 | 0.74 | 0.6 |
| Interest | 0.01 | 0.03 | 0.02 | 0.02 | 0.03 | 0.03 | 0.02 | 0.01 | 0.02 | 0 | 0.02 | 0.01 |
| Depreciation | 0.28 | 0.28 | 0.24 | 0.27 | 0.4 | 0.31 | 0.36 | 0.35 | 0.29 | 0.4 | 0.34 | 0.46 |
| Profit before tax | -1.03 | 0.68 | 0.29 | 1.39 | 4.28 | 4.91 | 5.53 | 5.44 | 6.46 | -0.7 | 2.43 | 4.14 |
| Tax % | 3.88 | -10.29 | -3.45 | 27.34 | 28.97 | 24.64 | 26.04 | 22.98 | 25.7 | -10 | 26.34 | 30.92 |
| Net Profit | -1.07 | 0.74 | 0.3 | 1.01 | 3.04 | 3.71 | 4.09 | 4.19 | 4.8 | -0.63 | 1.78 | 2.86 |
| EPS in Rs | -0.49 | 0.34 | 0.14 | 0.46 | 1.39 | 1.7 | 1.88 | 1.92 | 2.2 | -0.29 | 0.82 | 1.31 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 13.76 | 18.04 | 24 | 31.18 | 8.95 | 19.71 | 44.89 | 38.82 | 37.24 | 33.82 |
| Expenses | 11.55 | 15.72 | 20.6 | 28.42 | 9.64 | 18.07 | 36 | 27.75 | 28.73 | 27.77 |
| Operating Profit | 2.21 | 2.32 | 3.4 | 2.76 | -0.69 | 1.64 | 8.89 | 11.07 | 8.51 | 6.05 |
| OPM % | 16.06 | 12.86 | 14.17 | 8.85 | -7.71 | 8.32 | 19.8 | 28.52 | 22.85 | 17.89 |
| Other Income | 0.3 | 0.5 | 0.8 | 0.69 | 0.92 | 0.59 | 1.08 | 0.67 | -1.98 | 1.34 |
| Interest | 0.19 | 0.25 | 0.21 | 0.07 | 0.03 | 0.04 | 0.06 | 0.06 | 0.08 | 0.03 |
| Depreciation | 0.19 | 0.22 | 0.41 | 0.57 | 0.55 | 0.51 | 0.71 | 0.71 | 0.69 | 0.8 |
| Profit before tax | 2.13 | 2.35 | 3.58 | 2.81 | -0.35 | 1.68 | 9.2 | 10.97 | 5.76 | 6.56 |
| Tax % | 37.56 | 30.64 | 31.01 | 23.49 | -8.57 | 81.55 | 26.63 | 24.61 | 27.43 | 29.27 |
| Net Profit | 1.34 | 1.62 | 2.46 | 2.14 | -0.32 | 0.31 | 6.74 | 8.28 | 4.17 | 4.64 |
| EPS in Rs | 0.84 | 0.74 | 1.12 | 0.98 | -0.15 | 0.14 | 3.09 | 3.8 | 1.91 | 2.13 |
| Dividend Payout % | 0 | 0 | 5.55 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 2 | 2.73 | 2.73 | 5.45 | 5.45 | 5.45 | 10.9 | 10.9 | 21.81 | 21.81 |
| Reserves | 1.83 | 6.26 | 8.72 | 7.81 | 7.48 | 8.8 | 10.03 | 18.31 | 11.57 | 16.21 |
| Borrowings | 1.55 | 1.97 | 0.05 | 0.06 | 0 | 0 | 0.16 | 0.29 | 0.39 | 0.29 |
| Other Liabilities | 6.16 | 7.05 | 9.15 | 8.39 | 6.47 | 8.01 | 11 | 10.12 | 7.13 | 6.54 |
| Total Liabilities | 11.54 | 18.01 | 20.65 | 21.71 | 19.4 | 22.26 | 32.09 | 39.62 | 40.9 | 44.85 |
| Fixed Assets | 2.84 | 2.96 | 4.02 | 3.72 | 2.56 | 2.7 | 3.56 | 3.5 | 3.3 | 3.71 |
| CWIP | 0.06 | 0.38 | 0.37 | 0.23 | 0.59 | 0.3 | 0.69 | 1.02 | 1.14 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0.9 | 0.9 | 0.91 | 0.91 |
| Other Assets | 8.64 | 14.67 | 16.26 | 17.76 | 16.25 | 19.26 | 26.94 | 34.2 | 35.55 | 40.23 |
| Total Assets | 11.54 | 18.01 | 20.65 | 21.71 | 19.4 | 22.26 | 32.09 | 39.62 | 40.9 | 44.85 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.31 | 0.61 | 0.04 | 2.29 | -1.4 | 1.86 | 0.6 | 4.66 | 2.96 | — |
| Cash from Investing Activity | -0.1 | -0.66 | -1.46 | -0.13 | 0.24 | -0.36 | -1.95 | -5.36 | -3.57 | — |
| Cash from Financing Activity | -0.19 | 3.35 | -0.2 | -0.38 | 0 | -0.04 | -0.38 | 0.12 | 0.07 | — |
| Net Cash Flow | 0.02 | 3.3 | -1.62 | 1.78 | -1.16 | 1.46 | -1.73 | -0.58 | -0.54 | — |
| Free Cash Flow | 0.21 | -0.05 | -1.42 | 2.16 | -1.16 | 1.5 | -1.35 | 3.67 | 2.3 | — |
| CFO/OP | 49 | 58 | 31 | 109 | 203 | 137 | 35 | 68 | 54 | — |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 82.5 | 21.65 | 19.16 | 22.71 | 75.85 | 52.04 | 37.16 | 29.9 | 48.12 | 71.55 |
| Inventory Days | 318.57 | 323.9 | 365 | 204 | 650.38 | 286.74 | 208.51 | 369.86 | 364.23 | 345.1 |
| Days Payable | 96.43 | 72.37 | 126.16 | 88.17 | 268.47 | 141.94 | 73.29 | 108.94 | 58.7 | 64.53 |
| Cash Conversion Cycle | 304.64 | 273.17 | 258 | 138.54 | 457.77 | 196.83 | 172.38 | 290.81 | 353.66 | 352.13 |
| Working Capital Days | 76.93 | 78.1 | 72.39 | 64.85 | 316.06 | 145.19 | 120.26 | 170.94 | 168.29 | 159.84 |
| ROCE % | 48.28 | 31.82 | 33.75 | 23.21 | -3.05 | 12.73 | 52.41 | 43.41 | 27.44 | 18.29 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 73.37% | 73.37% | 73.37% | 73.37% | 73.37% | 73.26% | 69.66% | 69.66% | 69.66% | 69.66% | 68.98% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.39% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.28% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 20.62% | 20.76% | 22.45% | 22.45% | 23.7% | 25.02% | 28.6% | 26.47% | 25.77% | 26.03% | 25.9% |
| Others | 6.02% | 5.87% | 4.18% | 4.18% | 2.93% | 1.72% | 1.74% | 3.87% | 4.57% | 4.31% | 4.46% |
| No. of Shareholders | 150 | 151 | 140 | 131 | 146 | 275 | 519 | 719 | 780 | 685 | 617 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 8 / 6 / 5

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 23.32 | Buy |
| EMA (10) | 23.48 | Buy |
| SMA (20) | 23.1 | Buy |
| EMA (20) | 23.44 | Buy |
| SMA (50) | 23.9 | Buy |
| EMA (50) | 23.8 | Buy |
| SMA (100) | 24.4 | Sell |
| EMA (100) | 24.98 | Sell |
| SMA (200) | 27.71 | Sell |
| EMA (200) | 29.24 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 52.2 | Neutral |
| MACD (12,26,9) | -0.05 | Buy |
| Stochastic (14,3,3) | 82.05 | Sell |
| ADX (14) | 9.68 | Neutral |
| Williams %R (14) | -27.27 | Neutral |
| ATR (14) | 0.99 | High Volatility |
| ROC (12) | 1.91 | Buy |
| Stoch RSI (14) | 69.11 | Neutral |
| UO (7,14,28) | 65.85 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Apr - Non-applicability confirmation under Regulation 74(5) for quarter ended 31 March 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 9 Apr - Non-applicability confirmation under Regulation 74(5) for quarter ended 31 March 2026.](https://nsearchives.nseindia.com/corporate/PULZ_09042026121444_Pulz_74_5__Signed.pdf) |
| 8 Sep - Book closure from 24-30 Sep 2026; e-voting 27-29 Sep 2026 for 21st AGM. | [Updates 8 Sep - Book closure from 24-30 Sep 2026; e-voting 27-29 Sep 2026 for 21st AGM.](https://nsearchives.nseindia.com/corporate/PULZ_08092026171648_Book_closure_signed.pdf) |
| 8 Sep - 21st AGM on 30 Sep 2026; financials adoption, Rumeeta Ghose reappointment, and director remuneration limit increase. | [Shareholders meeting 8 Sep - 21st AGM on 30 Sep 2026; financials adoption, Rumeeta Ghose reappointment, and director remuneration limit increase.](https://nsearchives.nseindia.com/corporate/PULZ_08092026170859_Notice_NSE_Signed.pdf) |
| 30 May - Pulz Electronics approved FY26 audited standalone and consolidated results on 30 May 2026; standalone PAT ₹35.79 lakh. | [Outcome of Board Meeting 30 May - Pulz Electronics approved FY26 audited standalone and consolidated results on 30 May 2026; standalone PAT ₹35.79 lakh.](https://nsearchives.nseindia.com/corporate/PULZ_30052026215053_Pulz_Mar26.pdf) |
| 29 May - Pulz Electronics filed FY2026 SDD compliance certificate; six events captured, no noncompliances. | [Structural Digital Database 29 May - Pulz Electronics filed FY2026 SDD compliance certificate; six events captured, no noncompliances.](https://nsearchives.nseindia.com/corporate/PULZ_29052026133705_SDD_Certificate_Signed.pdf) |
| 26 March 2026 - Trading window closed from April 1, 2026 until 48 hours after audited results for March 31, 2026. | [Trading Window 26 March 2026 - Trading window closed from April 1, 2026 until 48 hours after audited results for March 31, 2026.](https://nsearchives.nseindia.com/corporate/PULZ_26032026110109_Closure_of_TW_Pulz_Signed.pdf) |
| 24 Aug - Board approved annual report, AGM on 30 Sept 2026, e-voting dates, scrutinizer and internal auditor reappointment. | [Outcome of Board Meeting 24 Aug - Board approved annual report, AGM on 30 Sept 2026, e-voting dates, scrutinizer and internal auditor reappointment.](https://nsearchives.nseindia.com/corporate/PULZ_24082026164908_Pulz_BM_outcome_Signed_.pdf) |
| 24 Aug - Board approved annual report, 21st AGM on 30 September 2026, e-voting schedule, and internal auditor reappointment. | [Appointment 24 Aug - Board approved annual report, 21st AGM on 30 September 2026, e-voting schedule, and internal auditor reappointment.](https://nsearchives.nseindia.com/corporate/PULZ_24082026181024_Pulz_BM_outcome_Signed_.pdf) |
| 22 January 2026 - Anirvan Ghose sold 1,48,000 shares; holdings reduced to 46,43,936 (21.2%) between 06-01-2026 and 22-01-2026. | [Updates 22 January 2026 - Anirvan Ghose sold 1,48,000 shares; holdings reduced to 46,43,936 (21.2%) between 06-01-2026 and 22-01-2026.](https://nsearchives.nseindia.com/corporate/PULZ_22012026141324_Intimation_7_2__Disclosure_Signed.pdf) |
| 21 November 2025 - Board approved unaudited H1 results (Sep 30, 2025): standalone PAT ₹15,598k; consolidated PAT ₹17,845k. | [Outcome of Board Meeting 21 November 2025 - Board approved unaudited H1 results (Sep 30, 2025): standalone PAT ₹15,598k; consolidated PAT ₹17,845k.](https://nsearchives.nseindia.com/corporate/PULZ_21112025213956_outcomePulz_Signed.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31885_PULZ_2025_2026_A_2093806_08092026172459.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28849_PULZ_2024_2025_A_3026457_06092025211455.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25928_PULZ_2023_2024_0509202422947.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23571_PULZ_2022_2023_05092023200956_09052023210015.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_21277_PULZ_2021_2022_03092022221645_09042022070002.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_19093_PULZ_2020_2021_31082021222914_08312021230008.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_18027_PULZ_2019_2020_25122020205717_25122020210007.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_15227_PULZ_2018_2019_16082019110837_16082019120002.zip) |
| from nse | [Annual Report 2018 from nse](https://archives.nseindia.com/annual_reports/SME_AR_13905_PULZ_2017_2018_01102018162714.zip) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:59:10.952Z.