Macobs TechnologiesShare price, financial results, shareholding and management
- Market cap
- ₹191 cr
- Stock P/E
- 65.9peers 15.1
- Book value
- ₹31.6
- Price to book
- 6.17
- EV / operating profit
- 55.7
- Market cap to sales
- 4.62
- ROCE · FY26
- 14.4%
- ROE · FY26
- 9.8%
- ROE, 3-year average
- 19.5%
- Operating margin · FY26
- 8.3%peers 15.4%
- Sales growth, 3 years
- 40.9%
- Profit growth, 3 years
- 12.3%
- Debt to equity
- 0.06peers 0.26
- Borrowings
- ₹2 cr
- Interest cover
- 17.0×
- Cash from business / op. profit
- 25%
- Debtor days
- 112
- Pledged
- 0.00%
- Promoter holding
- 47.78%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 288
- 52-week high / low
- ₹249 / ₹189
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Macobs Technologies share price chart
Close on 6 Nov 2026 · +1.01% on the day · Vol 8,800
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -4.9%
- 3 months
- -7.3%
- 6 months
- -19.2%
- 1 year
- -5.7%
- Since IPO
- +160.1%
- Traded a day, 20 days
- ₹0.48 cr
- Taken for delivery
- 74%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +75% | +11% |
| 3 years, a year | +41% | +12% |
About Macobs Technologies: business, products and customers
Macobs Technologies sells men's grooming products under the Menhood brand, mainly trimmers and care products for intimate grooming, through its own website and online marketplaces. Its shares trade on NSE Emerge.
Macobs Technologies, based in Jaipur, Rajasthan, was set up in 2019 and sells the Menhood range online: body and nose trimmers with replacement blades, sprays, washes, gels, skincare, perfume, briefs and bundles of these. It does not run shops; orders come through menhood.in and large e-commerce platforms and at the time of the prospectus were shipped from a rented warehouse in Bengaluru. The prospectus says it has also listed on a global marketplace in the UAE and Saudi Arabia and signed an agreement with a pan-India retailer.
Macobs designs and brands its products but does not make them: trimmers and other electronic products are made in China, mainly by Guangzhou Zhongpai Electronics under an exclusive agreement signed in December 2023, and other items come from third-party makers. So its costs move with import prices and the rupee, and its spending goes mostly on online advertising and platform fees rather than factories. Because it imports in bulk and holds stock to clear over time, stock has grown much faster than sales and cash from operations has been negative.
Read more about the business
The prospectus compares it with two listed consumer companies that also market personal care products largely online, Honasa Consumer and FSN E-Commerce Ventures, while noting they are not strictly comparable given its size. It also faces specialist grooming brands; one of them, Aegis Personal Care, has sued it in the Bombay High Court over a promotional video.
From the red herring prospectus (July 2024) and the annual report for FY25.
Read the deeper study ↓In its favour
- Sales have grown fast: 41% a year over three years.
- It has little debt for its size: debt to equity 0.06.
To watch
- Conversion of the 24,80,000 warrants issued at ₹170.04 (annual report FY25, p.25).
- Stock on hand of ₹8.1 cr at March 2025 against a year's sales of ₹23.6 cr (annual report FY25, p.23 and p.67).
- The ₹2.0 cr copyright suit by Aegis Personal Care in the Bombay High Court (prospectus, p.199).
- The outcome of the opposed and objected Menhood trademark applications (prospectus, p.109 to 110).
- Customers take longer to pay than before: 112 days in FY26, against 4 in FY21.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Macobs Technologies revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months.
Macobs Technologies half-yearly results
SME companies report every six months · ₹ crore
| H1FY24 | H1FY25 | H2FY25 | |
|---|---|---|---|
| Sales | 8.90 | 16.55 | 7.06 |
| Expenses | 7.90 | 13.91 | 6.06 |
| Operating profit | 1 | 2.64 | 1 |
| OPM | 11.2% | 15.9% | 14.2% |
| Interest | 0.13 | 0.12 | 0.12 |
| Depreciation | 0.06 | 0.10 | 0.11 |
| Profit before tax | 0.86 | 2.46 | 1.07 |
| Net profit | 0.63 | 1.84 | 0.77 |
Macobs Technologies profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 0.95 | 6.01 | 14.78 | 17.68 | 23.61 | 41.37 |
| Expenses | 0.95 | 5.43 | 11.81 | 14.25 | 19.96 | 37.93 |
| Operating profit | 0 | 0.58 | 2.97 | 3.43 | 3.65 | 3.43 |
| OPM | 0.0% | 9.7% | 20.1% | 19.4% | 15.5% | 8.3% |
| Other income | 0 | 0.01 | 0.05 | 0.07 | 0.33 | 1.25 |
| Interest | 0.01 | 0.01 | 0.18 | 0.39 | 0.24 | 0.26 |
| Depreciation | 0 | 0.03 | 0.10 | 0.18 | 0.21 | 0.26 |
| Profit before tax | -0.01 | 0.55 | 2.74 | 2.93 | 3.53 | 4.17 |
| Tax rate | 0.0% | 27.3% | 25.2% | 26.6% | 26.1% | 30.5% |
| Net profit | -0.01 | 0.40 | 2.05 | 2.15 | 2.61 | 2.90 |
| EPS ₹ | -10 | 400 | 2,050 | 2.99 | 2.66 | 2.96 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Earnings per share before FY24 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Macobs Technologies profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Operating margin | 0.0% | 9.7% | 20.1% | 19.4% | 15.5% | 8.3% |
| Tax rate | 0.0% | 27.3% | 25.2% | 26.6% | 26.1% | 30.5% |
| ROCE | · | 172.3% | 141.1% | 42.2% | 18.4% | 14.4% |
| ROE | · | 200.0% | 143.9% | 35.0% | 13.8% | 9.8% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Macobs Technologies debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. It borrowed much more last year. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Macobs Technologies balance sheet
At each 31 March · ₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 0.01 | 0.01 | 0.01 | 7.20 | 9.80 | 9.80 |
| Reserves | -0.01 | 0.39 | 2.44 | 2.63 | 18.30 | 21.20 |
| Net worth | 0 | 0.40 | 2.45 | 9.83 | 28.10 | 31 |
| Borrowings | 0.04 | 0.21 | 1.08 | 2.36 | 0.61 | 1.99 |
| Other liabilities | 0.36 | 0.91 | 2.42 | 1.75 | 2.88 | 22.45 |
| Total liabilities | 0.40 | 1.52 | 5.95 | 13.94 | 31.59 | 55.44 |
| Fixed assets | 0.02 | 0.23 | 0.20 | 0.71 | 0.63 | 3.16 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0.06 | 0.07 | 5.75 |
| Other assets | 0.38 | 1.29 | 5.75 | 13.17 | 30.89 | 46.53 |
| Receivables | · | · | · | · | · | 12.72 |
| Inventory | · | · | · | · | · | 10.82 |
| Cash | · | · | · | · | · | 2.08 |
| Trade payables | · | · | · | · | · | 1.78 |
Macobs Technologies cash flow
₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | -0.03 | 0.55 | -0.34 | -2.17 | -11.78 | 0.86 |
| Cash from investing | -0.02 | -0.24 | -0.03 | -0.63 | -0.06 | -16.41 |
| Cash from financing | 0.02 | 0.16 | 0.71 | 6.08 | 13.67 | 11.66 |
| Net cash flow | -0.03 | 0.47 | 0.34 | 3.28 | 1.83 | -3.89 |
| Capital spending | · | · | · | · | · | 0.27 |
Working capital
Days
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 4 | 6 | 2 | 4 | 33 | 112 |
| Inventory days | 176 | 77 | 80 | 351 | 495 | 162 |
| Days payable | 365 | 60 | 89 | 15 | 50 | 27 |
| Cash conversion cycle | -185 | 24 | -7 | 339 | 478 | 248 |
| Working capital days | -27 | -12 | 8 | 74 | 303 | 339 |
Macobs Technologies peers and competitors
Listed SME companies in the same industryBy sales, Macobs Technologies is number 6 of the 8 listed SME companies in personal products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Anondita Medicare | 1,903 | 56.0 | 137 | 34 | 37.0% | 0.26 |
| H. R. Hygiene Products | 139 | 12.6 | 130 | 11 | 14.0% | 0.51 |
| Recode Studios | 486 | 44.2 | 80 | 11 | 21.0% | 0.30 |
| Medistep Healthcare | 29 | 4.9 | 70.8 | 6 | 11.6% | 0.14 |
| Aakaar Medical Technologies | 101 | 15.1 | 67 | 6.6 | 15.4% | 0.34 |
| Macobs Technologies | 191 | 65.9 | 41.4 | 2.9 | 8.3% | 0.06 |
| Ravelcare | 68 | 13.1 | 27 | 5.2 | 26.2% | 0.00 |
| Novateor Research Laboratories | 23 | 227.0 | 3.8 | 0.1 | -2.6% | 0.09 |
| Median of the 7 others | 101 | 15.1 | 70.8 | 6.6 | 15.4% | 0.26 |
Macobs Technologies shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own less than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
Macobs Technologies shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Jul 24 | Sep 24 | Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|---|
| Promoters | 47.78% | 47.78% | 47.78% | 47.78% | 47.78% |
| Foreign investors (FIIs) | 4.77% | 2.61% | 0.00% | - | - |
| Indian institutions (DIIs) | 4.12% | 1.19% | 0.87% | 1.68% | 1.91% |
| HNIs (over ₹2 lakh each) | 21.64% | 31.07% | 36.32% | 28.72% | 27.14% |
| Small holders (up to ₹2 lakh) | 15.17% | 9.43% | 9.59% | 8.44% | 7.24% |
| Companies and others | 6.52% | 7.92% | 5.44% | 13.38% | 15.93% |
| Number of shareholders | 1,047 | 391 | 344 | 1,65,120 | 288 |
The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.
Macobs Technologies study: the business from its own documents
Read from 4 of the company's own documentsMacobs Technologies so far
From the company's own record
- 24 July 2024Listed on NSE Emerge at ₹75
- 31 March 2026Promoters at 47.78%
- 8 May 2026Highest close since listing, ₹230.34
Macobs Technologies key facts from the filings
Each figure with the document it comes from
- FY25 revenue
- ₹23.6 cr
- Up from ₹17.7 cr in FY24; profit after tax rose to ₹2.6 cr from ₹2.2 cr.Annual report FY25, p.23
- Stock on hand
- ₹8.1 cr
- At March 2025, against ₹3.0 cr a year earlier; money owed by customers rose to ₹2.1 cr from ₹0.18 cr.Annual report FY25, p.67
- Cash from operations, FY25
- -₹11.8 cr
- Mainly because stock and receivables grew; money from the IPO covered the gap.Annual report FY25, p.69
- IPO raised
- ₹19.5 cr
- 25,95,200 new shares at ₹75 allotted on 22 July 2024; the prospectus set ₹12.0 cr for working capital, ₹2.0 cr for marketing and ₹1.5 cr to repay loans.Annual report FY25, p.26; prospectus, p.20; our arithmetic
- Warrants issued
- 24,80,000 at ₹170.04
- Issued on a preferential basis after March 2025 for working capital and marketing; each converts into one share.Annual report FY25, p.25
Show 5 more facts
- Main maker
- 1 Chinese partner
- Guangzhou Zhongpai Electronics makes its designed products on job work under an exclusive agreement of 8 December 2023.Prospectus, p.100
- Top three suppliers
- 36.17%
- Share of FY24 purchases; the top ten gave 58.98%, down from 89.80% in FY23.Prospectus, p.105
- Customers
- Many individual buyers
- The prospectus says sales are direct to consumers and too spread out to name a top ten; the risk is dependence on the big platforms instead.Prospectus, p.25 and p.105
- Team
- 16 employees
- Permanent staff at March 2025; making, warehousing and delivery are done by others.Annual report FY25, p.50; prospectus, p.99 to 100
- Copyright suit
- ₹2.0 cr claimed
- Aegis Personal Care sued in the Bombay High Court over a promotional film; the company took the video down without admitting liability.Prospectus, p.199
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Macobs earns its money by designing and branding grooming products made by others, mostly in China, and selling them online to men across India.
Its weak spots are dependence on large online platforms and a single main overseas maker, heavy spending on stock, and a young brand in a crowded market.
AverageCan it set its own prices?Its own brand in a narrow niche gives it some say over price, but platforms set fees and visibility and rivals compete hard on price.
WatchHow strong is it against rivals?It was early in a niche, but large brands and new start-ups offer similar products online and several of its trademarks are still contested.
AverageWho are its customers?Sales are spread over many individual buyers, but most of them reach it through a few big e-commerce platforms.
WatchDoes it need a lot of money?It needs no factory, but imported stock and marketing soak up cash, so it has relied on new share money.
AverageCan it keep finding new work?It keeps adding products and channels, including a retail tie-up and Gulf marketplaces, but growth depends on paid online marketing.
AverageDo good and bad years swing a lot?Sales have risen each year so far, but the company is young and spending on grooming items can drop when times are hard.
Who runs Macobs Technologies?
Promoters, directors and officers; tap a name for the background
DGDushyant GandotraPromoter and Managing Director · holds 23.87% (after IPO)
BBA from St. Xavier's College; began as an entrepreneur at 21 and has been with the company since 14 October 2019. Managing Director for five years to 1 December 2028; also linked to Zappy Panda Ecom LLP. Held 23,38,560 shares, 23.87% after the IPO. The prospectus states Dushyant Gandotra and Divya Gandotra are siblings.
Prospectus, p.124, p.126, p.131 to 132 and p.135; our arithmeticSBShivam BhatejaPromoter and Whole Time Director · holds 23.87% (after IPO)
MBA; over ten years in performance marketing and business automation before co-founding Macobs. Whole Time Director for five years to 1 December 2028 and a director of EMIAC Technologies. Held 23,38,560 shares, 23.87% after the IPO.
Prospectus, p.124, p.132 and p.135; our arithmeticDGDivya GandotraPromoter and Non-Executive Director
MBA, with education in computer science, marketing and law; leads EMIAC Technologies, a content marketing firm. Held 720 shares before the IPO.
Prospectus, p.124 to 125 and p.135ASAditya SolankiChief Financial Officer
B.Com; over thirteen years in the capital market business at India Infoline before joining as CFO on 1 December 2023.
Prospectus, p.132; annual report FY25, p.27SGSakshi GuptaCompany Secretary and Compliance Officer
Company Secretary from 14 October 2024, after Ankita Soni left.
Annual report FY25, p.27RARachana AgarwalIndependent Director
Chartered Accountant; joined the board on 27 March 2025 and chairs the audit committee. Priya Goel and Sunil Kumar Rana, the independent directors at the IPO, left the board the same day, when Chetan Kumar Joshi also joined.
Annual report FY25, p.21, p.27 and p.28Macobs Technologies latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 31 March 2026: promoters unchanged at 47.78%.
Macobs Technologies announcements
13 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018For the Quarter ended September 30, 2026PDF ↗
- Shareholders meetingof Scrutinizer's Report of 7th Annual General Meeting held on September 30, 2026PDF ↗
- Shareholders meetingProceedings of 7th Annual General Meeting held on September 30, 2026 at 04:00 P.MPDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- General UpdatesClosure of Register of Members & Share Transfer Books for the 7th Annual General Meeting (AGM)PDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 30, 2026PDF ↗
- Outcome of Board MeetingHeld on September 07, 2026PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018For the Quarter ended 30th June, 2026PDF ↗
- Reply to Clarification- Financial resultsThe Exchange had sought clarification from Macobs Technologies Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing ObliPDF ↗
- Reply to Clarification- Financial resultsThe Exchange had sought clarification from Macobs Technologies Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing ObliPDF ↗
- Clarification - Financial ResultsThe Exchange has sought clarification from Macobs Technologies Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing ObliPDF ↗
- Statement of deviation(s) or variation(s) under Reg. 32statement of deviation(s) or variation(s) under Reg. 32PDF ↗
Macobs Technologies annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Macobs Technologies share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Macobs Technologies' data · 10
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe halves of FY26 are shown standalone and the full year consolidated, as the company files them, so the two need not add up.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (97,95,200 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !The two half-years of FY26 add up to ₹34.4 cr of sales against ₹41.4 cr for the full year, so the half-years of FY26 are held back.
- !Earnings per share changes basis between FY23 (₹2,050.00) and FY24 (₹2.99) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY21 to FY26.
- iPrices run to the close on 13 Oct 2026, from the exchange's daily figures.
Questions people ask about Macobs Technologies
What does Macobs Technologies do?
Macobs Technologies sells men's grooming products under the Menhood brand, mainly trimmers and care products for intimate grooming, through its own website and online marketplaces. Its shares trade on NSE Emerge.
What is the share price of Macobs Technologies?
₹195 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Macobs Technologies?
₹191 cr at the close on 6 Nov 2026, on 97,95,200 shares.
What is the P/E of Macobs Technologies?
65.9 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Macobs Technologies' revenue and profit?
Revenue ₹41 cr and profit after tax ₹3 cr in FY26.
Who are the promoters of Macobs Technologies?
Dushyant Gandotra, Shivam Bhateja, Divya Gandotra; promoters held 47.78% at 31 March 2026.
What was the IPO price of Macobs Technologies?
₹75 a share; it listed on 24 July 2024.
What is Macobs Technologies' website?
www.macobstech.com
More SME companies like Macobs Technologies
Other listed SME companies in personal products, the closest in size first, each read from its own documents.
- H. R. Hygiene ProductsHRHYGIENE · BSE SME · Personal ProductsMarket cap ₹150 cr
- Aakaar Medical TechnologiesAAKAAR · NSE Emerge · Personal Products · listed 2025Market cap ₹103 cr
- Recode StudiosRECODE · BSE SME · Personal ProductsMarket cap ₹434 cr
- RavelcareRAVEL · BSE SME · Personal ProductsMarket cap ₹64 cr
- Medistep HealthcareMEDISTEP · NSE Emerge · Personal Products · listed 2025Market cap ₹26 cr
- Novateor Research LaboratoriesNOVATEOR · BSE SME · Personal ProductsMarket cap ₹24 cr
Every listed SME company in Personal Products → · SME companies listed in 2024 →
Built from 3 annual reports, 1 offer document, 13 exchange announcements, 5 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.