1. At a Glance – The “Nerd Mall” That Prints Money
Macfos Ltd is what happens when engineering students, hobbyists, drone bros, EV tinkerers, and procurement managers all crash into one checkout page—robu.in. Market cap sits around ₹757 Cr, CMP near ₹804, and the stock has had a volatile year (₹1,288 high → ₹630 low), which basically tells you sentiment is as jittery as a DIY drone in monsoon winds.
Latest Q3 FY26 numbers? Sales ₹78.9 Cr (+72% YoY), PAT ₹5.63 Cr (+104% YoY), ROCE 41.8%, ROE 36.7%. That’s not “hope and vibes” growth—this is operating leverage kicking in like a well-tuned motor driver. P/E at ~36.6x isn’t cheap, but this is not a sleepy distributor either. This is India’s Amazon-meets-Robotics-Lab—minus free delivery drama.
2. Introduction – From College Projects to Corporate Purchase Orders
Macfos started in 2017, which in stock market years is basically yesterday. Yet here we are with ₹269 Cr TTM revenue, enterprise value around ₹798 Cr, and a customer list that includes ONGC, HAL, Tata Power Solar, Bharat Forge, Schneider Electric, and other names that don’t exactly shop on shady websites.
What makes Macfos interesting isn’t just growth—it’s who they sell to. Engineering students today, MSME manufacturers tomorrow, enterprise procurement teams the day after. This is a funnel business disguised as e-commerce. You start with a ₹399 sensor, end up supplying ₹4 lakh worth of components to a factory.
Question for you:
how many Indian e-commerce companies do you know with inventory discipline, positive PAT, and 40%+ ROCE at this scale?
3. Business Model – WTF Do They Even Do?
Think of Macfos as India’s electronic components supermarket. They don’t just sell parts; they sell possibility.
- E-commerce first via robu.in
- 16,000+ SKUs, 120+ brands, 160+ vendors
- Own brands = higher margins, better control
- Warehouse-led fulfilment (Pune, ~7,900 sq. ft.)
Revenue is diversified across development boards (21%), drone parts (15%), batteries/chargers (13%), modules & displays (13%), motors, sensors, IoT, 3D printers, and even e-bike parts. No single category risk, no “one-product wonder” nonsense.
Basically, if India builds something electronic, Macfos probably sold at least one component in that BOM.
4. Financials Overview – Growth with a Calculator, Not a Dream
Result Type Detected: Quarterly Results (Q3 FY26)
→ Annualised EPS Rule Applied: Q3 average × 4
| Metric | Latest Qtr | YoY Qtr | Prev Qtr | YoY % | QoQ % |
|---|---|---|---|---|---|
| Revenue (₹ Cr) | 78.89 | 45.80 | 68.48 | 72.3% | 15.2% |
| EBITDA (₹ Cr) | 8.05 | 3.74 | 7.20 | 115% | 11.8% |
| PAT (₹ Cr) | 5.63 | 2.76 | 5.12 | 104% | 9.9% |
| EPS (₹) | 5.98 | 2.93 | 5.44 | 104% | 9.9% |
Annualised EPS
