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Comfort Intech Ltd

COMFINTE

NSE

₹9.27+19.77%19 Oct 2026

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Trading

Comfort Intech Ltd

COMFINTE

NSE

₹9.27

+19.77%

19 Oct 2026

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Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Forensic Report: Accounting quality and red flags.

Comfort Intech began as an investment firm in 1994, but it has since been reshaped by two deliberate pivots - first into liquor manufacturing in 2019, and then into a broader consumer-goods trading operation - each funded by the cash flows of the business that came before it. The recurring approach is to enter a regulated or distribution-heavy industry, build a foothold in a single geography, and then scale outward using a mix of proprietary brands and third-party contracts. Today, the company is a compact, multi-vertical operator run by a ten-person team, with a dominant liquor unit in Telangana and a pan-India trading arm that moves everything from ceiling fans to pulses.

Business segments

Three engines at different stages - a regional liquor manufacturer with its own distillery, a national trading desk for branded appliances and agri-commodities, and a small legacy financing book that once seeded the group - each built with the cash flows of the one before.

1. Liquor manufacturing: the group’s own distillery in Telangana

Through a majority-owned subsidiary that holds a state IMFL licence, the company makes and bottles its own whisky and brandy brands while also running bottling lines for other liquor companies - a plant-level business, not a marketing one.

The licence is the moat - Liquors India Limited (LIL), a 65.3%-owned subsidiary, holds an Indian Made Foreign Liquor (IMFL) licence issued by the Telangana Prohibition and Excise Department, a regulated barrier that limits who can legally distil and bottle in the state.
Bought the plant, didn’t just rent it - LIL had been an associate since 2013, but Comfort Intech raised its stake to a controlling 65.3% by January 2024, a move it calls backward integration because it now owns the Hyderabad distillery rather than just contracting with it.
Five bottling lines under one roof - the 2-acre Hyderabad facility runs both semi-automatic and fully automatic lines with a licensed bottling capacity of 15,60,000 cases per year, enough to fill roughly 1,30,000 cases a month.
Own brands plus contract work - the company sells its own labels like Deccan Blue Whisky and Gold Mark Whisky, but it also bottles for third parties including Tilak Nagar Industries; in FY24, LIL was providing bottling services to 15 other liquor brands.
Telangana first, then the South - the business currently operates primarily in Hyderabad, where it once claimed a 10% share of the cheap-liquor segment within 18 months of launch, and it is now planning to enter Andhra Pradesh, Karnataka, Tamil Nadu, and Kerala through a mix of its own distribution and state-approved distributors.

2. Trading of goods: a national distributor of appliances and agri-commodities

The company buys branded consumer appliances and agricultural staples, then resells them across online marketplaces and offline channels - it earns a margin on every transaction without owning the factories.

Authorised distributor for household names - the division trades appliances and electronics from brands like Singer, Usha, Orient, Bajaj, Voltas, Crompton, and Havells, which gives it access to products with existing consumer demand.
Online and offline in parallel - goods move through e-commerce marketplace platforms, through immediate suppliers to those platforms, and through traditional retail distribution channels, so the company is not dependent on a single route to the customer.
Agri-commodities added as a second leg - during FY25, management began importing grains, pulses, and spices and selling them domestically, with a focus on traceability and supply reliability to meet institutional buyer standards.
Targeting smaller cities - the stated strategy is to push deeper into Tier-2 and Tier-3 cities, where roughly 30% of the consumer durables market is still unorganised, leaving headroom for a distributor that can reach those towns.

3. Financing: legacy inter-corporate lending to group entities

A small loan book, mostly to related companies, that generates interest income - a vestige of the company’s origins as an investment firm.

Loans to fellow group companies - the financing segment provides inter-corporate loans and advances primarily to Comfort Fincap Limited and Flora Fountain Properties Limited, with a board-approved limit of Rs. 40 crore each.
Interest booked only on performing loans - the company follows Reserve Bank of India prudential norms, recognising interest income only on standard advances, which means doubtful loans do not inflate reported earnings.
A troubled legacy loan - a loan secured by a pledge of listed shares became unrecoverable from a borrower’s legal heir; the invoked shares were frozen by a statutory authority due to a legal dispute involving the company, blocking their sale.

Group structure and partners

A listed parent with one operating subsidiary, two financial-sector associates, and a web of promoter-linked group companies that share directors and occasionally trade with one another.

Liquors India Limited is the main operating arm - the 65.3%-owned subsidiary holds the IMFL licence and runs the Hyderabad distillery; it was an associate from 2013 and became a subsidiary only in January 2024.
Two financial associates sit alongside - Comfort Securities Limited (40.8% owned) is a SEBI-registered stockbroker and merchant banker serving over 10,000 clients, while Lemonade Share & Securities (46.8% owned) also operates in the financial sector.
Promoter entities are also counterparties - group companies like Comfort Fincap, Flora Fountain Properties, and Comfort Commotrade share common directors and have loan and trade relationships with Comfort Intech; in FY23, the company sold Rs. 46 crore of traded goods to Flora Fountain Properties.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

Charts

Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹297Cr

Close Price

₹9.28

Industry

Trading

Price To Earnings

—

Price To Sales

1.90

Revenue

₹156Cr

Rev Gr TTM

Revenue Growth TTM

15.72%

PAT Gr TTM

PAT Growth TTM

-68.57%

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	27	25	62	39	44	46	25	20	38	61	25	32
Growth YoY Revenue Growth YoY%	-24.6	-32.0	99.6	66.3	65.5	87.1	-60.4	-47.8	-13.4	33.0	2.1	56.3
Expenses ExpensesCr	23	23	60	37	42	44	22	19	35	58	22	30
Operating Profit Operating ProfitCr	4	2	2	2	2	3	2	2	3	3	3	1
OPM OPM%	13.6	6.7	2.9	5.2	5.2	5.6	9.9	8.0	7.5	5.5	11.7	4.7
Other Income Other IncomeCr	0	2	0	3	0	2	-1	1	-2	-1	-2	2
Interest Expense Interest ExpenseCr	0	0	1	1	0	1	1	0	0	1	1	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	3	3	1	4	2	4	0	2	0	1	0	2
Tax TaxCr	1	1	0	1	1	1	0	0	0	0	1	0
PAT PATCr	3	3	1	3	2	3	1	2	0	1	-1	2
Growth YoY PAT Growth YoY%	34.9	-3.0	100.0	142.5	-37.6	4.3	-3.8	-35.7	-111.3	-62.0	-181.8	1.0
NPM NPM%	9.6	10.3	1.3	7.9	3.6	5.8	3.1	9.8	-0.5	1.6	-2.5	6.3
EPS EPS₹	0.2	0.2	0.1	0.3	0.1	0.1	-0.2	0.2	-0.1	0.0	-0.2	0.1

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	27	25	62	39	44	46	25	20	38	61	25	32
Growth YoY Revenue Growth YoY%	-24.6	-32.0	99.6	66.3	65.5	87.1	-60.4	-47.8	-13.4	33.0	2.1	56.3
Expenses ExpensesCr	23	23	60	37	42	44	22	19	35	58	22	30
Operating Profit Operating ProfitCr	4	2	2	2	2	3	2	2	3	3	3	1
OPM OPM%	13.6	6.7	2.9	5.2	5.2	5.6	9.9	8.0	7.5	5.5	11.7	4.7
Other Income Other IncomeCr	0	2	0	3	0	2	-1	1	-2	-1	-2	2
Interest Expense Interest ExpenseCr	0	0	1	1	0	1	1	0	0	1	1	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	3	3	1	4	2	4	0	2	0	1	0	2
Tax TaxCr	1	1	0	1	1	1	0	0	0	0	1	0
PAT PATCr	3	3	1	3	2	3	1	2	0	1	-1	2
Growth YoY PAT Growth YoY%	34.9	-3.0	100.0	142.5	-37.6	4.3	-3.8	-35.7	-111.3	-62.0	-181.8	1.0
NPM NPM%	9.6	10.3	1.3	7.9	3.6	5.8	3.1	9.8	-0.5	1.6	-2.5	6.3
EPS EPS₹	0.2	0.2	0.1	0.3	0.1	0.1	-0.2	0.2	-0.1	0.0	-0.2	0.1

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	14	9	22	54	59	85	111	141	155	154	145	156
Growth Revenue Growth%	14.9		152.2	143.8	9.8	43.4	30.5	27.5	9.6	-0.8	-5.7	15.7
Expenses ExpensesCr	5	8	15	53	59	79	104	133	148	144	134	146
Operating Profit Operating ProfitCr	9	1	7	1	0	6	7	8	7	9	11	11
OPM OPM%	62.2	9.2	33.5	2.1	0.3	7.4	6.3	5.6	4.8	6.1	7.5	6.8
Other Income Other IncomeCr	0	1	1	0	0	0	0	1	4	4	-4	-4
Interest Expense Interest ExpenseCr	1	0	0	0	0	0	1	1	2	2	2	2
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	1	1	1
PBT PBTCr	5	2	7	1	0	6	7	8	9	10	4	4
Tax TaxCr	0	0	2	0	1	1	2	2	2	2	1	1
PAT PATCr	5	1	5	1	-1	5	5	6	7	8	2	2
Growth PAT Growth%	258.6		241.4	-83.8	-182.6	866.0	-0.5	22.7	13.4	21.3	-73.1	-68.6
NPM NPM%	36.3	15.7	21.2	1.4	-1.1	5.7	4.3	4.2	4.3	5.3	1.5	1.4
EPS EPS₹	0.2	0.0	1.1	0.0	-0.1	0.3	0.2	0.2	0.5	0.3	-0.1	-0.1

Financial Year	Mar 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	14	9	22	54	59	85	111	141	155	154	145	156
Growth Revenue Growth%	14.9		152.2	143.8	9.8	43.4	30.5	27.5	9.6	-0.8	-5.7	15.7
Expenses ExpensesCr	5	8	15	53	59	79	104	133	148	144	134	146
Operating Profit Operating ProfitCr	9	1	7	1	0	6	7	8	7	9	11	11
OPM OPM%	62.2	9.2	33.5	2.1	0.3	7.4	6.3	5.6	4.8	6.1	7.5	6.8
Other Income Other IncomeCr	0	1	1	0	0	0	0	1	4	4	-4	-4
Interest Expense Interest ExpenseCr	1	0	0	0	0	0	1	1	2	2	2	2
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	1	1	1
PBT PBTCr	5	2	7	1	0	6	7	8	9	10	4	4
Tax TaxCr	0	0	2	0	1	1	2	2	2	2	1	1
PAT PATCr	5	1	5	1	-1	5	5	6	7	8	2	2
Growth PAT Growth%	258.6		241.4	-83.8	-182.6	866.0	-0.5	22.7	13.4	21.3	-73.1	-68.6
NPM NPM%	36.3	15.7	21.2	1.4	-1.1	5.7	4.3	4.2	4.3	5.3	1.5	1.4
EPS EPS₹	0.2	0.0	1.1	0.0	-0.1	0.3	0.2	0.2	0.5	0.3	-0.1	-0.1

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	32	32	32	32	32	32	32	32	32	32	32
Reserves ReservesCr	61	70	74	71	66	77	83	88	134	147	141
Current Liabilities Current LiabilitiesCr	4	4	8	17	12	31	30	46	91	36	35
Non Current Liabilities Non Current LiabilitiesCr	0	1	1	0	0	0	1	1	3	5	4
Total Liabilities Total LiabilitiesCr	96	106	115	121	110	140	146	168	270	231	222
Current Assets Current AssetsCr	78	65	74	86	73	96	82	102	144	85	87
Non Current Assets Non Current AssetsCr	19	41	41	35	37	44	64	65	126	146	135
Total Assets Total AssetsCr	96	106	115	121	110	140	146	168	270	231	222

Financial Year	Mar 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	32	32	32	32	32	32	32	32	32	32	32
Reserves ReservesCr	61	70	74	71	66	77	83	88	134	147	141
Current Liabilities Current LiabilitiesCr	4	4	8	17	12	31	30	46	91	36	35
Non Current Liabilities Non Current LiabilitiesCr	0	1	1	0	0	0	1	1	3	5	4
Total Liabilities Total LiabilitiesCr	96	106	115	121	110	140	146	168	270	231	222
Current Assets Current AssetsCr	78	65	74	86	73	96	82	102	144	85	87
Non Current Assets Non Current AssetsCr	19	41	41	35	37	44	64	65	126	146	135
Total Assets Total AssetsCr	96	106	115	121	110	140	146	168	270	231	222

Consolidated

Standalone

Financial Year	Mar 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	10	-5	12	-5	-1	-13	5	-3	-9	19	3
Investing Cash Flow Investing Cash FlowCr	0	2	1	-3	-1	6	1	-1	1	-1	0
Financing Cash Flow Financing Cash FlowCr	-13	-3	0	1	-1	8	-8	4	8	-19	1
Net Cash Flow Net Cash FlowCr	-4	-6	12	-7	-3	1	-3	0	0	0	3
Free Cash Flow Free Cash FlowCr	10	-5	12	-5	-1	-13	5	-3	-6	19	2
CFO To PAT CFO To PAT%	186.2	-372.0	248.0	-638.5	85.3	-274.7	95.8	-46.5	-128.0	239.0	117.5
CFO To EBITDA CFO To EBITDA%	108.5	-633.1	157.1	-419.1	-326.9	-211.8	66.4	-34.4	-115.2	207.1	23.7

Financial Year	Mar 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	10	-5	12	-5	-1	-13	5	-3	-9	19	3
Investing Cash Flow Investing Cash FlowCr	0	2	1	-3	-1	6	1	-1	1	-1	0
Financing Cash Flow Financing Cash FlowCr	-13	-3	0	1	-1	8	-8	4	8	-19	1
Net Cash Flow Net Cash FlowCr	-4	-6	12	-7	-3	1	-3	0	0	0	3
Free Cash Flow Free Cash FlowCr	10	-5	12	-5	-1	-13	5	-3	-6	19	2
CFO To PAT CFO To PAT%	186.2	-372.0	248.0	-638.5	85.3	-274.7	95.8	-46.5	-128.0	239.0	117.5
CFO To EBITDA CFO To EBITDA%	108.5	-633.1	157.1	-419.1	-326.9	-211.8	66.4	-34.4	-115.2	207.1	23.7

Consolidated

Standalone

Financial Year	Mar 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	36	25	46	23	7	22	72	92	322	315	206	297
Price To Earnings Price To Earnings	7.1	19.3	13.0	177.0		2.2	9.2	13.1	18.6	28.2
Price To Sales Price To Sales	2.5	2.5	2.0	0.4	0.1	0.3	0.7	0.7	2.1	2.0	1.4	1.9
Price To Book Price To Book	0.4	0.2	0.4	0.2	0.1	0.2	0.6	0.8	1.9	1.8	1.2	1.7
EV To EBITDA EV To EBITDA	3.2	24.4	3.9	12.8	10.2	3.9	9.9	11.8	46.3	34.5	20.2	24.3
Profitability Ratios Profitability Ratios
GPM GPM%	87.5	42.0	46.0	8.4	8.4	17.6	13.5	9.7	11.0	14.5	17.0	17.0
OPM OPM%	62.2	9.2	33.5	2.1	0.3	7.4	6.3	5.6	4.8	6.1	7.5	6.8
NPM NPM%	36.3	15.7	21.2	1.4	-1.1	5.7	4.3	4.2	4.3	5.3	1.5	1.4
ROCE ROCE%	6.3	1.9	6.3	1.0	0.0	5.2	6.1	6.7	5.6	6.3	2.8	2.8
ROE ROE%	5.5	1.4	4.4	0.7	-0.6	4.4	4.2	4.9	4.0	4.5	1.3	1.3
ROA ROA%	5.3	1.3	4.1	0.6	-0.6	3.4	3.3	3.5	2.5	3.5	1.0	1.0
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	36	25	46	23	7	22	72	92	322	315	206	297
Price To Earnings Price To Earnings	7.1	19.3	13.0	177.0		2.2	9.2	13.1	18.6	28.2
Price To Sales Price To Sales	2.5	2.5	2.0	0.4	0.1	0.3	0.7	0.7	2.1	2.0	1.4	1.9
Price To Book Price To Book	0.4	0.2	0.4	0.2	0.1	0.2	0.6	0.8	1.9	1.8	1.2	1.7
EV To EBITDA EV To EBITDA	3.2	24.4	3.9	12.8	10.2	3.9	9.9	11.8	46.3	34.5	20.2	24.3
Profitability Ratios Profitability Ratios
GPM GPM%	87.5	42.0	46.0	8.4	8.4	17.6	13.5	9.7	11.0	14.5	17.0	17.0
OPM OPM%	62.2	9.2	33.5	2.1	0.3	7.4	6.3	5.6	4.8	6.1	7.5	6.8
NPM NPM%	36.3	15.7	21.2	1.4	-1.1	5.7	4.3	4.2	4.3	5.3	1.5	1.4
ROCE ROCE%	6.3	1.9	6.3	1.0	0.0	5.2	6.1	6.7	5.6	6.3	2.8	2.8
ROE ROE%	5.5	1.4	4.4	0.7	-0.6	4.4	4.2	4.9	4.0	4.5	1.3	1.3
ROA ROA%	5.3	1.3	4.1	0.6	-0.6	3.4	3.3	3.5	2.5	3.5	1.0	1.0
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	BRANDMAN	AMBALALSA	CHEMKART	COMFINTE	HALDER	CHANDRIMA	ISTRNETWK
Market CapitalizationMkt CapCr	302	298	297	297	294	283	276
Close PriceClose₹	163.50	38.95	245.70	9.28	236.29	8.50	38.40
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	10.17	22.91	14.15		9.11	7.02	37.28
Price To SalesPS	1.86	1.45	1.38	1.90	0.40	3.84	2.16
RevenueRevenueCr	162	206	215	156	730	74	128
Revenue Growth TTMRev Gr TTM%		4.9%	5.7%	15.7%	-6.6%	169.9%	564.9%
PAT Growth TTMPAT Gr TTM%		5.9%	-19.8%	-68.6%	66.2%	388.2%	47.6%

	BRANDMAN	AMBALALSA	CHEMKART	COMFINTE	HALDER	CHANDRIMA	ISTRNETWK
Market CapitalizationMkt CapCr	302	298	297	297	294	283	276
Close PriceClose₹	163.50	38.95	245.70	9.28	236.29	8.50	38.40
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	10.17	22.91	14.15		9.11	7.02	37.28
Price To SalesPS	1.86	1.45	1.38	1.90	0.40	3.84	2.16
RevenueRevenueCr	162	206	215	156	730	74	128
Revenue Growth TTMRev Gr TTM%		4.9%	5.7%	15.7%	-6.6%	169.9%	564.9%
PAT Growth TTMPAT Gr TTM%		5.9%	-19.8%	-68.6%	66.2%	388.2%	47.6%

FY2026

FY2025

FY2024

FY2023

FY2022

FY2021

FY2026

Jun 26

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Mar 26

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Dec 25

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Sep 25

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Mar 25