- POSITIVE
Annual Revenue Earkart Mar-2026 Annual Revenue is Rs 54 Cr which is growth of 25.4% YoY.
- NEGATIVE
Annual Net Profit Earkart Mar-2026 Annual Net Profit is Rs 5 Cr which is growth of -28.3% YoY.
Earkart was incorporated on April 14, 2021. The company manufactures and distributes modern hearing aids and related accessories across India, while also trading in products from other brands. It offers mobility aids and educational kits for the physically challenged and provides smart remote audiometry solutions to make hearing care accessible nationwide
| Bidding Dates |
|---|
| 25 Sep 2025 - 29 Sep 2025 |
| Subscription |
|---|
| 1.26x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹270,000 | 2 | 2 | 1000 | 3.6 M | ₹135 | 57.34 % | ₹492.6 M | RHP DOC |
Earkart IPO SUBSCRIPTION STATUS
29 Sep '25Total1.26x
Retail Individual Investor0.88x
HNI (NII) Investors1.65x
Qualified Institutional Buyers-
Earkart IPO overall subscription rate was 1.26 times the total available shares
Earkart IPO retail subscription rate was 0.88 times in the retail segment
Earkart IPO non-institutional investor subscription rate was 1.65 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
29 Sep 2025 (Day 3) | 0.88x | 1.65x | - |
26 Sep 2025 (Day 2) | 0.04x | 0.14x | - |
25 Sep 2025 (Day 1) | 0.01x | 0.12x | - |
Earkart FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 43.1 | 6.9 | 0.7 | 0.2 | 22.7% |
| FY24 | 31.8 | 3.1 | -1.0 | -2.0 | 11.2% |
| FY23 | 28.9 | 1.3 | -0.3 | -0.5 | 5.6% |
Earkart IPO SUBSCRIPTION STATUS DETAILS
Earkart had 3.6 M shares on offer
Earkart IPO offer price was ₹135
Earkart IPO minimum Investment was ₹270000
Earkart IPO issue size was ₹ 492.6 M
Earkart had a minimum lot size of 1000 Shares per application
Earkart NUMBER OF SHARES ON OFFER
Total3.6 M
Fresh Issue3.3 M
Offer for Sale334.0 K
Post Issue Promoter Holding %57.34 %
Earkart IPO IMPORTANT DATES
| Issue Open Date | 25 Sep 2025 |
| Issue close Date | 29 Sep 2025 |
| Allotment Date | 30 Sep 2025 |
| Refund Date | 01 Oct 2025 |
| Demat Account Credit Date | 01 Oct 2025 |
| Listing Date | 03 Oct 2025 |
| Listing on Exchange(s) | BSE |
| Earkart Allotment Status | Exchange/ Registrar |
Earkart IPO subscription opened on 25 Sep 2025, and closed on 29 Sep 2025
IPO allotment for Earkart was finalized on Tuesday, 30 Sep 2025
IPO listing for Earkart was on BSE on Friday, 03 Oct 2025
Earkart IPO LISTING GAINS
| Issue Price (adjusted) | 135.0 |
| Listing Open Price | 135.5 |
| Listing Close Price | 142.3 |
| Listing Gain% | 0.4% |
| Current Gain% | -3.7% |
Earkart Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earkart Ltd. | 130 | 178.8 | 36.3 | -1.3 | 3.3 | 7.7 | 7.1 | 54.1 | 25.4 | 4.9 | -28.3 | 3.6 | -28.3 |
| Apar Industries Ltd. | 17816 | 74599.7 | 63.1 | 1.9 | 3.1 | 18.1 | 7.1 | 22966.9 | 22.9 | 976.9 | 18.9 | 282.2 | 34 |
| Waaree Energies Ltd. | 2317 | 66648.8 | 17.5 | 0.2 | 2.2 | 25.7 | 12.3 | 27244.9 | 83.5 | 3711.3 | 98.7 | 132.7 | 72 |
| Havells India Ltd. | 1023.7 | 64180 | 39.3 | 2.5 | 2.7 | 17.9 | 11.5 | 23022.2 | 4.3 | 1690.6 | 14.8 | 26.1 | 15.7 |
| Premier Energies Ltd. | 884.6 | 40158.8 | 24.1 | 0.4 | 4.7 | 35 | 13.9 | 8025.9 | 20.7 | 1509.8 | 61.1 | 36.7 | 59.1 |
| Syrma SGS Technology Ltd. | 1680.9 | 32351.3 | 87.9 | 1 | 5.9 | 11.1 | 5.5 | 4856.9 | 26.6 | 317.8 | 87.1 | 19.1 | 83.9 |
Annual
Balance Sheet
Ratios
Cash Flow
Earkart annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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Base Level
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Standalone
Cell Data
Actual
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YoY & New to Old
CAGR Columns
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Base Level
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| Indicator | Graph | CAGR 3 Yrs | Mar '26 | Mar '25 | Mar '24 | Mar '23 | Mar '22 |
|---|---|---|---|---|---|---|---|
23.1% | 54.1 | 43.2 | 32 | 29 | 5.7 | ||
Operating Exp. Ann. | 18.7% | 45.7 | 33.3 | 28.2 | 27.3 | 5.6 | |
Operating Profit Ann. | 73.8% | 8.4 | 9.8 | 3.6 | 1.6 | 0.1 | |
OPM Ann. % | 40.6% | 15.43% | 22.60% | 11.11% | 5.55% | 2.20% | |
19.5% | 46.9 | 34.2 | 28.7 | 27.5 | 5.6 | ||
EBITDA Ann. | 71% | 8.5 | 9.9 | 3.8 | 1.7 | 0.2 | |
EBITDA Ann. margin % | 39.7% | 15.62% | 22.80% | 11.77% | 5.73% | 2.87% | |
Interest Ann. | 71% | 0.5 | 0.4 | 0.3 | 0.1 | ||
Depr. | 51.8% | 0.7 | 0.4 | 0.2 | 0.2 | 0.1 | |
PBT Ann. | 69.5% | 7.3 | 9 | 3.2 | 1.5 | 0.1 | |
Tax Ann. | 184.4% | 2.3 | 2.1 | 0.2 | 0.1 | ||
55.6% | 4.9 | 6.9 | 3.1 | 1.3 | 0.1 | ||
Net Profit Ann. | 55.6% | 4.9 | 6.9 | 3.1 | 1.3 | 0.1 | |
NPM Ann. % | 26.3% | 9.12% | 15.96% | 9.63% | 4.53% | 1.76% | |
EPS Adj. latest Ann. | 53.3% | 3.6 | 5 | 2.2 | 1 | 0.1 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
25.2%
2Y CAGR
30%
3Y CAGR
23.1%
Net Profit Ann.
1Y CHG
-29%
2Y CAGR
25.7%
3Y CAGR
55.6%
Operating Exp. Ann.
1Y CHG
37.2%
2Y CAGR
27.3%
3Y CAGR
18.7%
Earkart INFORMATION ON IPO ISSUE
About Earkart
Earkart was incorporated on April 14, 2021. The company manufactures and distributes modern hearing aids and related accessories across India, while also trading in products from other brands. It offers mobility aids and educational kits for the physically challenged and provides smart remote audiometry solutions to make hearing care accessible nationwide
Object of the Issue
- Funding incremental working capital requirements of the company
- Funding capital expenditure requirements for setting of shop in shop (SIS) business model in ENT/Ophthalmic clinics across India and setting up of infrastructure for operational activities
- General corporate purposes
Earkart - PROMOTERS
| Name |
|---|
| Rohit Misra |
| Monika Misra |
Earkart - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Rohit Misra | Chairman & Managing Director |
| Monika Misra | Whole Time Director |
| Ajay Kumar Giri | Executive Director |
| Rahul Salesha | Executive Director |
| Sidhartha Pradhan | Independent Director |
| Lakshman Shyam Singh | Independent Director |
| Rajhkumar Jaain | Independent Director |
Earkart Book Running Lead Manager
Sarthi Capital Advisors Private Limited
ipo@sarthiwm.in
Earkart Registrar to the issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
Earkart Strengths
Support services
The company generates leads through online ads on platforms like Google and Meta. Interested customers are guided by a central team and referred to nearby partner shops or clinics, where Earkart earns a percentage as conversion charges on successful hearing aid purchases
Strength
In-house development
Earkart OMNI is a portable remote audiometry machine that lets audiologists test and diagnose hearing loss anytime, anywhere. It integrates Earkart’s CRM with video conferencing, real-time ear canal visuals, and a 3-step diagnostic process for accurate hearing aid fitting
Strength
Portability & compact design
The device is compact, durable, and easy to use, designed for healthcare professionals of all skill levels. With wireless connectivity, secure data management, and an 8-hour Li-ion battery, it enables seamless remote testing even in the most remote areas
Strength
Earkart Risks
Dependent on third party suppliers
The company relies on third-party suppliers in India, China, the UK, and the USA for raw materials and components used in its hearing aids. Any delay, shortage, or price fluctuation from these suppliers could impact operations, finances, and growth
Risk
Quality issues or defects
Quality issues or product defects could trigger recalls, safety alerts, or reputational damage, negatively impacting business, operations, finances, and cash flows. Despite rigorous in-house and international quality checks, any failure in materials, production, or quality control may result in defective products
Risk
R&D risks
The company’s growth depends on the success of its remote audiometry system, Earkart OMNI, and ongoing R&D. While OMNI enhances accessibility to audiology services, its adoption relies on audiologists’ and patients’ trust, and any failure to improve products or gain acceptance could impact business, finances, and competitive position
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 4.5 crore, of 334,000 shares. It also consists of a fresh issue of Rs 44.8 crore.
The promoters of the company are Rohit Misra and Monika Misra.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 135.0 - 135.0.
The IPO application opens on Sep 25, 2025 and closes on Sep 29, 2025.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 270,000.0, the maximum value for this IPO is Rs 270,000.0.
This IPO will be allotted on Sep 30, 2025.
The refund will be credited to your account on Oct 01, 2025.
The allotted shares will be credited to your demat on Oct 01, 2025.
Earkart Ltd.’s shares listed on the stock exchanges on Oct 03, 2025.