Pro FX TechShare price, financial results, shareholding and management
- Market cap
- ₹123 cr
- Stock P/E
- 8.1peers 12.4
- Book value
- ₹50.9
- Price to book
- 1.38
- EV / operating profit
- 4.5
- Market cap to sales
- 0.69
- ROCE · FY26
- 32.3%
- ROE · FY26
- 24.1%
- ROE, 3-year average
- 35.9%
- Operating margin · FY26
- 11.5%peers 8.5%
- Sales growth, 3 years
- 22.6%
- Profit growth, 3 years
- 36.2%
- Debt to equity
- 0.00peers 0.32
- Borrowings
- ₹0 cr
- Interest cover
- 39.0×
- Cash from business / op. profit
- -50%
- Debtor days
- 58
- Pledged
- 0.00%
- Promoter holding
- 50.30%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 583
- 52-week high / low
- ₹99 / ₹56
- 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.
Pro FX Tech share price chart
Close on 6 Nov 2026 · -2.78% on the day · Vol 1,600
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
- +2.9%
- 3 months
- -4.6%
- 6 months
- -2.9%
- 1 year
- -23.1%
- Since IPO
- -19.5%
- Traded a day, 20 days
- ₹0.06 cr
- Taken for delivery
- 92%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +37% | +26% |
| 3 years, a year | +23% | +36% |
About Pro FX Tech: business, products and customers
Pro FX Tech brings premium home audio and video brands such as Denon, Polk, KEF and JBL into India, sells them through dealers and its own showrooms, and designs home theatres, home automation and office sound systems. Its shares trade on NSE Emerge.
Pro FX Tech, based in Bengaluru, imports amplifiers, speakers, subwoofers, sound bars, turntables, streamers and cables from global brands and sells most of them to a dealer network across India. The rest it sells directly: home theatres and automation for wealthy households, and sound, display and signage systems for boardrooms, hotels, hospitals, schools and places of worship, all installed and serviced by its own technicians.
It is a trader, not a maker: the offer document says it has no plant or machinery, so sales and profit depend on the brands it carries and the price at which it can resell them. Most products are bought in dollars and arrive by sea, so a weaker rupee raises costs before price lists can be changed, and the company says it revises prices only every few months because projects are sold at agreed prices. Dealer sales earn a thinner gross margin than direct sales, so the mix between the two moves margins, and stock must be held for months, which ties up cash.
Read more about the business
In 2026 the company added the professional audio brands Peavey and Crest Audio for auditoriums, stadiums and venues, the hi fi brand Hegel and the Indian brand Sonodyne, and opened new experience centres. The offer document says no listed company in India does a business similar to its own, and the managing director describes the rest of the trade as some 300 to 400 small, mostly local firms.
From the red herring prospectus (June 2025), the investor presentation of May 2026 and the earnings call transcripts of January and May 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 23% a year over three years.
- It earns a high return on the money it uses: ROCE 32% in FY26.
- It has little debt for its size: debt to equity 0.00.
To watch
- Sales in FY27 against the ₹225 cr the managing director hoped for at the May 2026 call.
- The price increases expected around June or July 2026 and whether margins hold if the rupee weakens further.
- The opening of the Kochi, Chennai, Kolkata and Ahmedabad experience centres and the use of the IPO money for them.
- The company's press release of 10 August 2026 titled "Entering into Manufacturing Process", for a business that has so far only traded.
- Customers take longer to pay than before: 58 days in FY26, against 44 in FY20.
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.
Pro FX Tech 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.
Pro FX Tech half-yearly results
SME companies report every six months · ₹ crore
| H1FY26 | H2FY26 | |
|---|---|---|
| Sales | 79.36 | 97.37 |
| Expenses | 69.56 | 86.90 |
| Operating profit | 9.80 | 10.46 |
| OPM | 12.3% | 10.8% |
| Interest | 0.10 | 0.44 |
| Depreciation | 0.23 | 0.41 |
| Profit before tax | 9.52 | 10.61 |
| Net profit | 7.32 | 7.85 |
Pro FX Tech profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 56 | 86 | 96 | 110 | 129 | 176.73 |
| Expenses | 54 | 78 | 85 | 96 | 112 | 156.46 |
| Operating profit | 3 | 8 | 10 | 15 | 17 | 20.26 |
| OPM | 4.6% | 9.0% | 11.0% | 13.0% | 13.0% | 11.5% |
| Other income | 0 | 0 | 0 | 0 | 1 | 1.04 |
| Interest | 1 | 1 | 1 | 1 | 1 | 0.53 |
| Depreciation | 1 | 1 | 2 | 2 | 1 | 0.64 |
| Exceptional and other items | · | · | 2 | 1 | 1 | · |
| Profit before tax | 1 | 6 | 9 | 13 | 17 | 20.13 |
| Tax rate | 0.0% | 33.3% | 33.3% | 30.8% | 29.4% | 24.6% |
| Net profit | 1 | 4 | 6 | 9 | 12 | 15.17 |
| EPS ₹ | 671.33 | 2,993 | 4,441 | 7.33 | 9.51 | 9.28 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
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.
Pro FX Tech profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY20 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Operating margin | 4.6% | 9.0% | 11.0% | 13.0% | 13.0% | 11.5% |
| Tax rate | 0.0% | 33.3% | 33.3% | 30.8% | 29.4% | 24.6% |
| ROCE | · | 66.6% | 74.0% | 62.2% | 52.9% | 32.3% |
| ROE | · | 66.6% | 52.1% | 45.0% | 38.7% | 24.1% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Pro FX Tech debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It has almost no borrowings. Last year the business used more cash than it brought in. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Pro FX Tech balance sheet
At each 31 March · ₹ crore
| FY20 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 0.01 | 0.01 | 0.01 | 13 | 13 | 17.50 |
| Reserves | 4 | 8 | 15 | 12 | 24 | 71.51 |
| Net worth | 4.01 | 8.01 | 15.01 | 25 | 37 | 89.01 |
| Borrowings | 6 | 3 | 1 | 4 | 2 | 0 |
| Other liabilities | 13.99 | 21.99 | 21.99 | 17 | 27 | 23.02 |
| Total liabilities | 24 | 33 | 38 | 46 | 66 | 112.03 |
| Fixed assets | 1 | 4 | 3 | 1 | 1 | 2.39 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 23 | 29 | 35 | 45 | 65 | 109.64 |
| Receivables | · | · | · | · | · | 28.30 |
| Inventory | · | · | · | · | · | 41.90 |
| Cash | · | · | · | · | · | 31.52 |
| Trade payables | · | · | · | · | · | 9.81 |
Pro FX Tech cash flow
₹ crore
| FY20 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | 2 | 12 | -2 | 1 | 3 | -10.17 |
| Cash from investing | -2 | -5 | 0 | 0 | -1 | 1.22 |
| Cash from financing | 0 | -3 | -2 | 2 | -3 | 34.10 |
| Net cash flow | 0 | 4 | -4 | 3 | -1 | 25.15 |
| Capital spending | · | · | · | · | · | 0 |
Working capital
Days
| FY20 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 44 | 42 | 45 | 63 | 59 | 58 |
| Inventory days | 111 | 45 | 85 | 70 | 120 | 119 |
| Days payable | 62 | 63 | 59 | 33 | 60 | 28 |
| Cash conversion cycle | 93 | 24 | 71 | 100 | 120 | 149 |
| Working capital days | 28 | -7 | 34 | 60 | 81 | 116 |
Pro FX Tech peers and competitors
Listed SME companies in the same industryBy sales, Pro FX Tech is number 20 of the 79 listed SME companies in consumer durables.
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 |
|---|---|---|---|---|---|---|
| Manoj Ceramic | 87 | 7.3 | 203 | 12 | 12.0% | 0.54 |
| Durlax Top Surface | 179 | 14.2 | 185 | 12.6 | 12.0% | 0.35 |
| Clay Craft India | 334 | 12.4 | 179 | 27 | 24.0% | 0.30 |
| Pro FX Tech | 123 | 8.1 | 177 | 15.2 | 11.5% | 0.00 |
| Aspire & Innovative Advertising | 21 | 8.4 | 176 | 2.6 | 1.0% | 0.34 |
| K. V. Toys India | 166 | 18.5 | 174 | 9 | 7.0% | 0.24 |
| Patdiam Jewellery | 147 | 8.6 | 173 | 17 | 10.0% | 0.32 |
| Esprit Stones | 125 | - | 173 | -2.6 | 3.3% | 0.39 |
| Dev Labtech Venture | 127 | 12.7 | 167 | 10 | 7.0% | 0.06 |
| Essen Speciality Films | 301 | - | 163 | -4 | 0.3% | 0.32 |
| Brandman Retail | 316 | 12.5 | 162 | 25.3 | 17.4% | 0.09 |
| Median of the 10 others | 157 | 12.5 | 174 | 11 | 8.5% | 0.32 |
Pro FX Tech shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
Pro FX Tech 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 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | |
|---|---|---|---|---|---|
| Promoters | 50.30% | 50.30% | 50.30% | 50.30% | 50.30% |
| Foreign investors (FIIs) | 2.71% | 1.30% | - | - | - |
| Indian institutions (DIIs) | 5.83% | 3.05% | 2.17% | 1.83% | 1.82% |
| HNIs (over ₹2 lakh each) | 0.15% | 6.35% | 7.30% | 8.05% | 8.96% |
| Small holders (up to ₹2 lakh) | 10.08% | 7.98% | 8.66% | 7.84% | 6.97% |
| Companies and others | 30.93% | 31.02% | 31.57% | 31.98% | 31.95% |
| Number of shareholders | 1,195 | 654 | 658 | 608 | 583 |
The named holders are at 30 June 2026, beside 31 March 2026, each under the group the pattern files them in.
Pro FX Tech study: the business from its own documents
Read from 6 of the company's own documentsPro FX Tech so far
From the company's own record
- 3 July 2025Listed on NSE Emerge at ₹87
- 30 June 2026Promoters at 50.30%
- 15 July 2025Highest close since listing, ₹117.32
Pro FX Tech key facts from the filings
Each figure with the document it comes from
- Sales through dealers
- ₹117.4 cr
- FY26 distribution sales; direct retail and corporate sales were ₹59.4 cr.Earnings call transcript, May 2026, p.3
- Top five brands
- 77.6%
- Share of FY25 revenue from Denon, Polk, JBL, KEF and Definitive Technology; Denon alone gave 28.13%.Red herring prospectus, p.27; reported figures, our arithmetic
- Products made in Asia
- Over 80%
- Most stock is shipped from Singapore and Hong Kong hubs, and the managing director said the dollar rose about 12% in 13 months.Earnings call transcript, May 2026, p.9 and p.20
- Margin swing in FY26
- 5.69% → 15.60%
- EBITDA margin in the third quarter, hit by the weaker rupee, against the fourth quarter after price increases of up to 10% on some products.Investor presentation, May 2026, p.31; Earnings call transcript, May 2026, p.12
- Gross margin by channel
- 20% to 25% vs 35%
- Management's figures for dealer sales against direct sales, which is why the company wants more direct business.Earnings call transcript, May 2026, p.15
Show 5 more facts
- Stock held
- ₹41.9 cr
- Inventory at March 2026, up from ₹29.8 cr; management put it at 102 days against 90 a year earlier.Investor presentation, May 2026, p.32; Earnings call transcript, May 2026, p.17
- Cash from operations
- ₹-10.2 cr
- FY26 operating cash flow, against ₹3.1 cr in FY25, as stock and money owed by customers grew.Investor presentation, May 2026, p.33
- Cash and debt
- ₹30.8 cr, no borrowings
- Cash at March 2026 after the IPO, with all bank borrowings repaid.Investor presentation, May 2026, p.32
- Network
- 825+ dealers
- With 28 service centres, 10 run by the company and 18 franchised, and 7 showrooms or experience centres in five cities.Investor presentation, May 2026, p.14 to p.16
- Cost of an experience centre
- About ₹2.5 cr
- Fit out and display stock for each one; the company plans two to three a year.Earnings call transcript, May 2026, p.13 and p.14
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
At the May 2026 call the managing director said the company wants to grow at least 25% to 30% a year and hopes to cross ₹225 cr of sales in FY27, and that it is working towards a profit margin of at least 10% this year, while calling the next few months hazy because of the rupee. The company plans new experience centres in Kolkata and Ahmedabad besides Kochi and Chennai, two to three a year at about ₹2.5 cr each, is in talks with two or three more brands, and expected another round of price increases around June or July 2026.
| What management said | When | What happened |
|---|---|---|
| On course for about 30% sales growth and a 9% net profit margin in FY26 | January 2026 call | Sales up 36.6%, profit margin 8.6% |
| Three new showroom cum experience centres from the IPO money | Offer document, June 2025 | Two opened by May 2026, the third delayed by approvals in Mumbai |
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.
Pro FX Tech earns a trading margin on imported premium audio and video gear, sold mostly through dealers and partly as installed systems for homes and offices.
Its weak spots are dependence on a handful of foreign brands, costs that rise with the dollar before prices can follow, and a lot of cash held in stock.
AverageCan it set its own prices?It can raise prices because its buyers are wealthy, but only every few months, so a falling rupee hurts profit for a quarter before price lists catch up.
AverageHow strong is it against rivals?It is larger and better organised than a trade of small local firms, with its own service network, but its place rests on agreements with brands that can end them.
StrongWho are its customers?Sales are spread over hundreds of dealers and thousands of households and companies, with no single large buyer named.
WatchDoes it need a lot of money?No plants, but it must carry months of imported stock and give dealers credit, so growth uses cash.
StrongCan it keep finding new work?Yes so far. It keeps adding brands in new segments and new showrooms, and the dealer count has grown each year.
WatchDo good and bad years swing a lot?Sales have risen each year, but profit swings with the rupee from quarter to quarter.
Who runs Pro FX Tech?
Promoters, directors and officers; tap a name for the background
MGManmohan GaneshPromoter, Chairman and Managing Director · holds 24.56%
Bachelor of Commerce and Post Graduate Diploma in Business Administration (Marketing Management) from St. Joseph's College of Business Administration, Bangalore (1990), with about 33 years in the residential and multi segment audio video business; earlier experience with ITC Hotels and BPL India. On the board since incorporation in 2006; oversees procurement, brand tie ups, business development and strategy. Managing Director for five years from June 2024. Paid ₹0.49 cr in FY25.
Red herring prospectus, p.135, p.136 and p.137; Investor presentation, May 2026, p.18SNShreya NambiarPromoter and Non-Executive Director · holds 25.74%
Master of Science in Development Economics from SOAS, University of London (2019), and a bachelor's degree in Economic and Social Studies in Business Environment from Cardiff University (2015), with about 6 years in market research and business strategy. On the board since March 2024; also a director of Phoenix Holdings and Stallion Computers.
Red herring prospectus, p.135 and p.136AMAppadurai Manuel Santhana JoekumarWhole-Time Director and Chief Financial Officer
Master of Commerce from Madurai Kamaraj University (1989), with more than 30 years in financial analysis and risk management; looks after sales and marketing, new business, accounts and finance. On the board from March 2024 and Chief Financial Officer from June 2024. Paid ₹0.35 cr in FY25.
Red herring prospectus, p.135, p.136 and p.137VJVishal JhanwarIndependent Director
Chartered Accountant (fellow member since 2016) and Bachelor of Commerce, a partner in MJSM and Co, Chartered Accountants, Ahmedabad, with about 13 years in finance, accounting and internal audit; chairs the audit committee.
Red herring prospectus, p.136 and p.141ASAlokeshwar SenIndependent Director
Post Graduate Diploma in Management from the Indian Institute of Management, Bangalore (1991) and Bachelor of Engineering, with about 16 years in marketing and as a consultant to start ups and companies on after sales consumer support.
Red herring prospectus, p.136Pro FX Tech latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 30 June 2026: promoters unchanged at 50.30%.
Pro FX Tech announcements
16 on record, latest first; each opens the filing on the exchange
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 21, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Analysts/Institutional Investor Meet/Con. Call UpdatesSchedule of meetPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 21, 2026PDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 21, 2026PDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 21, 2026PDF ↗
- Investor PresentationInvestor PresentationPDF ↗
- Analysts/Institutional Investor Meet/Con. Call UpdatesPresentationPDF ↗
- Press Releasea press release dated August 10, 2026, titled "Entering into Manufacturing Process"PDF ↗
- General UpdatesOutcome of Board Meeting 10.08.2026PDF ↗
- General UpdatesIntimation of board meetingPDF ↗
- Disclosure under SEBI Takeover Regulationsof Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011PDF ↗
Pro FX Tech annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Pro FX Tech 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 Pro FX Tech's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,75,03,686 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 the full-year sales.
- !Earnings per share changes basis between FY23 (₹4,440.56) and FY24 (₹7.33) 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, FY20 to FY26.
- iPrices run to the close on 8 Oct 2026, from the exchange's daily figures.
Questions people ask about Pro FX Tech
What does Pro FX Tech do?
Pro FX Tech brings premium home audio and video brands such as Denon, Polk, KEF and JBL into India, sells them through dealers and its own showrooms, and designs home theatres, home automation and office sound systems. Its shares trade on NSE Emerge.
What is the share price of Pro FX Tech?
₹70 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Pro FX Tech?
₹123 cr at the close on 6 Nov 2026, on 1,75,03,686 shares.
What is the P/E of Pro FX Tech?
8.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Pro FX Tech's revenue and profit?
Revenue ₹177 cr and profit after tax ₹15 cr in FY26.
Who are the promoters of Pro FX Tech?
Manmohan Ganesh, Shreya Nambiar; promoters held 50.30% at 30 June 2026.
What was the IPO price of Pro FX Tech?
₹87 a share; it listed on 3 July 2025.
What is Pro FX Tech's website?
www.profx.com
More SME companies like Pro FX Tech
Other listed SME companies in consumer durables, the closest in size first, each read from its own documents.
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Every listed SME company in Consumer Durables → · SME companies listed in 2025 →
Built from 3 earnings call transcripts, 2 investor presentations, 1 offer document, 16 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.