Key Financials Snapshot

TTM · Standalone · ₹ in Cr
Market Cap
₹172 Cr.
Stock P/E
26
P/B
2.7
Current Price
₹125.4
Book Value
₹ 46.9
Face Value
10
52W High
₹243.2
52W Low
₹ 104.4
Dividend Yield
—

Earkart Overview

Business

Earkart Ltd. (EARKART) is an Indian company operating in the Medical Equipment/Supplies/Accessories sector, specifically focused on ear-related medical products. Based on its name, "Earkart" likely specializes in hearing aids, auditory devices, ear protection, and related accessories or supplies. Its core business model likely involves the distribution, retail, and potentially manufacturing of these products within India. The company generates revenue through the sale of these medical devices and associated supplies, potentially complemented by services such as hearing assessments, device fitting, and after-sales support.

Revenue Mix

Specific segment breakdown and revenue mix are not available. However, typical segments for a company in this industry might include:

Hearing Aids: Sales of various types of hearing aids (e.g., behind-the-ear, in-the-canal, digital, analog).

Accessories & Spares: Batteries, cleaning kits, ear molds, connectivity devices.

Diagnostic Equipment: Audiometers, tympanometers (if they also supply to clinics).

Services: Hearing tests, fitting, calibration, repair services.

Without financial data, the contribution of each segment remains unknown.

Industry

The medical equipment industry in India, particularly for audiology, is characterized by a mix of global manufacturers (who often dominate the premium segment with advanced technology) and a network of local distributors, retailers, and service providers. The market is driven by increasing awareness, an aging population, and rising disposable incomes. Earkart, as an Indian entity, likely positions itself within the domestic market. Its standing relative to peers would depend on its product portfolio (whether it's an importer of global brands, a manufacturer of its own, or both), pricing strategy (premium, mid-range, or budget), and its distribution network (online, brick-and-mortar clinics, hospital partnerships). The market for hearing aids in India is still relatively underpenetrated compared to developed countries, offering growth potential but also facing challenges in awareness and affordability.

MOAT

Without detailed information, it's difficult to ascertain Earkart's specific competitive advantages. Potential moats in this industry could include:

Distribution Network: An extensive and efficient network of clinics, audiologists, or retail outlets across India could provide a significant advantage.

Brand Recognition: A trusted brand name in hearing healthcare within the Indian market.

Customer Relationships & Switching Costs: For medical devices, established relationships with audiologists and patients, along with the need for specialized fitting and ongoing support, can create switching costs.

After-Sales Service: A reputation for excellent customer service and post-purchase support.

Cost Leadership: If Earkart can offer competitive pricing through efficient sourcing or manufacturing.

Proprietary Technology: If it develops or owns exclusive technology for its devices.

The existence and strength of these moats for Earkart would require further analysis.

Growth Drivers

Aging Population: India's growing elderly population is a primary demographic driver for increased incidence of age-related hearing loss.

Rising Awareness: Increasing healthcare awareness and reduced stigma associated with hearing loss are encouraging more individuals to seek solutions.

Technological Advancements: Continuous innovation in hearing aid technology (e.g., smaller size, better connectivity, AI features) can drive upgrades and new adoption.

Increasing Disposable Income: Rising income levels in India make advanced hearing solutions more accessible and affordable for a larger segment of the population.

Expanding Healthcare Infrastructure: Growth in audiology clinics and healthcare facilities across Tier 2 and Tier 3 cities.

Digital Penetration: E-commerce and telemedicine could expand reach and accessibility for sales and initial consultations.

Risks

Intense Competition: From established global players with superior R&D capabilities and brand equity, as well as other domestic distributors and online retailers.

Technological Obsolescence: Rapid advancements in hearing aid technology can quickly render existing products less competitive.

Regulatory Changes: Evolving medical device regulations, import policies, and quality standards in India could impact operations and costs.

Currency Fluctuations: If Earkart primarily imports devices, adverse currency movements can increase input costs and impact profitability.

Pricing Pressure: The need to balance advanced features with affordability in a price-sensitive market can lead to margin pressure.

Supply Chain Disruptions: Dependency on global suppliers for components or finished products can lead to supply chain vulnerabilities.

Product Liability: As a medical device provider, there is inherent risk related to product performance and patient safety.

Management & Ownership

Earkart Ltd. is an Indian public company (indicated by the ticker EARKART and "Ltd."). Specific details about its promoters, key management personnel, or their professional backgrounds are not provided. Typically, in Indian companies, promoters (founding families or individuals) often hold significant ownership and exert influence on strategic direction. The management team would be responsible for day-to-day operations, distribution, and product strategy within the competitive medical equipment market.

Outlook

Earkart operates in a segment with significant underlying demand drivers, particularly the large and growing aging population in India and increasing awareness regarding hearing health. This demographic tailwind, coupled with technological advancements making hearing aids more effective and discreet, presents a substantial growth opportunity. However, the company faces an intensely competitive landscape, with the presence of global leaders and local players vying for market share. Its success will depend on its ability to effectively navigate this competition through a compelling product portfolio (whether self-manufactured or imported), a strong distribution and service network, and efficient cost management. The challenge lies in balancing the adoption of new technologies with affordability for the Indian market, while also managing potential regulatory shifts and global supply chain dependencies.

Earkart Share Price

Live · BSE · Inception: 2021
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Standalone · annual

Earkart Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Earkart Profit & Loss

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 6 29 32 43
Other Income 0 0 0 0
Total Income 6 29 32 43
Total Expenditure 6 27 28 34
Operating Profit 0 2 4 10
Interest 0 0 0 0
Depreciation 0 0 0 0
Exceptional Income / Expenses 0 0 0 0
Profit Before Tax 0 1 3 9
Provision for Tax 0 0 0 2
Profit After Tax 0 1 3 7
Adjustments 0 0 0 0
Profit After Adjustments 0 1 3 7
Adjusted Earnings Per Share 0.1 1.7 4.1 6.4

Earkart Balance Sheet

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 5 7 13 20
Minority's Interest 0 0 0 0
Borrowings 0 0 0 0
Other Non-Current Liabilities 0 0 0 0
Total Current Liabilities 1 8 6 10
Total Liabilities 6 15 19 30
Fixed Assets 0 0 1 1
Other Non-Current Assets 1 1 1 2
Total Current Assets 4 14 17 27
Total Assets 6 15 19 30

Earkart Cash Flow

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 0 0 1 1
Cash Flow from Operating Activities -3 -0 -1 1
Cash Flow from Investing Activities -2 0 -1 -1
Cash Flow from Financing Activities 5 0 3 -0
Net Cash Inflow / Outflow 0 1 1 -1
Closing Cash & Cash Equivalent 0 1 1 0

Earkart Ratios

# Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.14 1.74 4.05 6.36
CEPS(Rs) 0.22 1.94 4.3 6.78
DPS(Rs) 0 0 0 0
Book NAV/Share(Rs) 6.29 8.65 17.22 18.86
Core EBITDA Margin(%) 2.44 5.65 11.26 22.26
EBIT Margin(%) 2.06 5.3 11.34 21.46
Pre Tax Margin(%) 1.97 5.02 10.22 20.44
PAT Margin (%) 1.86 4.54 9.63 15.41
Cash Profit Margin (%) 2.91 5.06 10.22 16.41
ROA(%) 1.78 12.72 18.04 26.86
ROE(%) 2.22 23.27 31.31 40.63
ROCE(%) 2.34 24.02 29.05 44.39
Receivable days 103.73 39.86 63.44 105.72
Inventory Days 47.96 39.38 67.28 54.05
Payable days 92.68 58.28 62.75 29.72
PER(x) 0 0 0 0
Price/Book(x) 0 0 0 0
Dividend Yield(%) 0 0 0 0
EV/Net Sales(x) 0.04 0.02 0.08 0.35
EV/Core EBITDA(x) 1.38 0.42 0.71 1.55
Net Sales Growth(%) 0 408.04 9.82 35.75
EBIT Growth(%) 0 1206.47 134.73 156.88
PAT Growth(%) 0 1142.42 133.09 117.16
EPS Growth(%) 0 1142.1 133.1 57.06
Debt/Equity(x) 0.05 0.19 0.31 0.25
Current Ratio(x) 3.69 1.67 2.76 2.62
Quick Ratio(x) 3.04 0.99 1.75 1.99
Interest Cover(x) 22.58 18.84 10.1 21.05
Total Debt/Mcap(x) 0 0 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +34% +93% — —
Operating Profit CAGR +150% — — —
PAT CAGR +133% — — —
Share Price CAGR -47% — — —
ROE Average +41% +32% +24% +24%
ROCE Average +44% +32% +25% +25%

Earkart Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 57.34 %
FII 0 %
DII (MF + Insurance) 21.95 %
Public (retail) 20.71 %
# Sep 2025 Mar 2026
Promoter 57.3457.34
FII 5.140
DII 12.6121.95
Public 24.920.71
Others 00
Total 100100

Earkart Peer Comparison

Medical Equipment/Supplies/Accessories Edit Columns

Earkart Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

See more…

Earkart Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 32%
  • Debtor days have improved from 62.75 to 29.72days.
  • Company is almost debt free.

Cons

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