MarketFriction

Aaron Industries Ltd

NSE AARON · Industrial Products
₹123.11 -1.26%
NSE close2026-10-01
52 week range106.80 - 228.00
Market cap₹256 Cr.
P/E30.8
IPO 2018 · +548% since Price band 20% Delivery 71.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales14.0014.6219.0817.1918.2918.3324.1119.2422.2423.2027.3324.44
Expenses11.8312.1015.4513.8915.0815.0619.0715.5818.1218.3622.2519.50
Operating Profit2.172.523.633.303.213.275.043.664.124.845.084.94
OPM %15.50%17.24%19.03%19.20%17.55%17.84%20.90%19.02%18.53%20.86%18.59%20.21%
Other Income0.020.030.090.050.060.050.060.040.050.040.060.05
Interest0.420.420.250.300.310.350.410.680.690.640.580.52
Depreciation0.350.360.390.440.460.460.450.940.991.000.951.00
Profit before tax1.421.773.082.612.502.514.242.082.493.243.613.47
Tax %15.49%32.20%24.68%28.35%27.60%28.29%35.14%49.04%44.18%37.96%35.73%25.94%
Net Profit1.201.202.331.871.821.802.751.061.392.022.322.56
EPS in Rs0.570.571.110.890.870.861.320.510.660.961.111.22
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3.314.8011.7717.5521.4024.9637.7455.8563.2377.9392.0197.21
Expenses3.174.5510.2115.5118.3521.4931.8846.3152.1163.0974.2278.23
Operating Profit0.140.251.562.043.053.475.869.5411.1214.8417.7918.98
OPM %4.23%5.21%13.25%11.62%14.25%13.90%15.53%17.08%17.59%19.04%19.33%19.52%
Other Income0.01-0.000.020.030.110.060.040.060.140.190.100.20
Interest0.080.170.140.290.590.440.191.011.341.362.592.43
Depreciation0.010.010.100.200.550.630.851.151.421.813.883.94
Profit before tax0.060.071.341.582.022.464.867.448.5011.8611.4212.81
Tax %33.33%28.57%29.85%32.28%29.21%21.54%23.66%27.28%25.53%30.52%40.54%
Net Profit0.040.050.931.061.421.933.715.406.338.246.808.29
EPS in Rs0.440.561.160.530.710.961.852.693.033.943.253.95
Dividend Payout %-0.00%-0.00%-0.00%-0.00%22.23%31.21%21.65%18.59%16.54%15.25%15.40%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth39%30%18%22%
Compounded Profit Growth67%29%8%12%
Stock Price CAGR%20%0%-35%
Return on Equity20%21%19%15%
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital0.190.191.884.785.2610.0410.0410.0410.4710.4720.95
Reserves0.050.101.664.595.542.135.8510.4425.3732.5627.67
Borrowings1.151.331.055.275.217.079.1511.3731.5631.8627.74
Other Liabilities0.820.942.372.873.102.514.666.857.277.9414.82
Total Liabilities2.212.566.9617.5119.1121.7529.7038.7074.6782.8391.18
Fixed Assets0.100.121.458.719.2912.8814.8518.9224.3524.8855.33
CWIP-0.00-0.00-0.00-0.000.360.500.760.4126.9032.52-0.00
Investments-0.00-0.00-0.000.040.22-0.00-0.00-0.00-0.00-0.00-0.00
Other Assets2.112.445.518.769.248.3714.0919.3723.4225.4335.85
Total Assets2.212.566.9617.5119.1121.7529.7038.7074.6782.8391.18
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-0.91-0.06-0.47-0.151.403.271.174.075.608.637.67
Cash from Investing Activity-0.02-0.03-1.51-7.71-1.50-4.28-3.08-4.84-33.26-7.87-1.72
Cash from Financing Activity0.930.031.978.24-0.651.001.910.7827.69-0.72-6.07
Net Cash Flow-0.00-0.06-0.010.38-0.76-0.020.010.010.040.04-0.12
Free Cash Flow-0.94-0.10-1.90-7.61-0.10-1.36-1.92-0.80-27.740.645.76
CFO/OP-643%-16%-7%8%57%106%36%60%67%74%58%
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days83.8153.2348.3838.2742.8125.3023.7016.6020.3824.4527.81
Inventory Days239.97180.69172.59157.50151.49140.40104.85142.94148.91120.29157.67
Days Payable155.2892.7695.9455.1342.1621.7932.8938.5724.2422.8749.52
Cash Conversion Cycle168.50141.17125.03140.65152.15143.9195.66120.97145.04121.87135.96
Working Capital Days120.2091.2577.8477.5863.1147.5361.2242.8128.1713.6325.79
ROCE %15.95%47.67%19.34%17.03%16.51%22.81%29.71%19.83%18.62%18.66%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters73.06%73.06%73.06%73.06%73.06%73.06%73.06%73.06%73.00%73.06%73.07%73.07%
DIIs0.00%0.00%0.00%0.00%0.52%0.52%0.52%0.43%0.00%0.00%0.00%0.00%
Public26.94%26.94%26.94%26.94%26.43%26.43%26.43%26.51%27.00%26.94%26.93%26.93%
No. of Shareholders10,67511,82612,49711,96511,51611,88411,47311,28013,72112,93412,38711,985

Fundamentals

Market Cap₹ 256 Cr.
Current Price₹ 122
Stock P/E30.8
Book Value₹ 23.2
ROCE18.7 %
ROE15.0 %
Dividend Yield0.41 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)22%
Compounded Profit Growth (TTM)12%
Standalone figures.
Valuation
Market capRs 258 Cr
Enterprise valueRs 282 Cr
P/E (TTM)31.11x
Price to book5.30x
Price to sales2.65x
EV / EBITDA14.73x
EV / EBIT18.53x
EV / sales2.91x
Price to cash flow33.62x
Earnings yield3.21%
Dividend yield0.41%
P/E, 3-year average25.33x
P/B, 3-year average4.16x
P/E, 5-year average21.68x
P/B, 5-year average4.12x
Profitability
Operating margin (excl. other income)19.33%
Operating margin (incl. other income)19.44%
EBITDA margin19.73%
Pre-tax margin13.18%
Net profit margin8.53%
Net margin, latest quarter10.47%
ROE14.84%
ROCE18.53%
ROA7.82%
ROE, 3-year average19.40%
ROCE, 3-year average18.98%
ROA, 3-year average9.82%
ROE, 5-year average22.87%
ROCE, 5-year average21.89%
ROA, 5-year average11.93%
ROIC (approx.)12.38%
Tax rate40.54%
Other income / net worth0.21%
Growth
Sales growth (latest year)18.07%
Profit growth (latest year)-17.48%
Sales CAGR, 3 years18.11%
Sales CAGR, 5 years29.81%
Profit CAGR, 3 years7.99%
Profit CAGR, 5 years28.64%
Sales growth QoQ-10.57%
Profit growth QoQ10.34%
Sales growth YoY (latest quarter)27.03%
Profit growth YoY (latest quarter)141.51%
Per share
EPS (TTM)Rs 3.96
EPS (latest year)Rs 3.25
EPS (latest quarter)Rs 1.22
EPS, 3-year averageRs 5.72
EPS, 5-year averageRs 5.25
Book value per shareRs 23.21
Sales per shareRs 46.41
Cash flow per shareRs 3.66
Free cash flow per shareRs 2.75
Dividend per share (latest year)Rs 0.50
Dividend per share, 3-year averageRs 0.90
Dividend per share, 5-year averageRs 0.90
Dividends
Dividend payout15.44%
Dividend payout, 3-year average15.77%
Dividend payout, 5-year average17.48%
Efficiency
Asset turnover1.01x
Fixed asset turnover1.66x
Inventory turnover2.54x
Inventory days144 days
Debtor days28 days
Debtors turnover13.13x
Creditor days50 days
Cash conversion cycle136 days
Working capital days26 days
Leverage
Total debtRs 28 Cr
Cash and bankRs 3 Cr
Net debtRs 25 Cr
Debt to equity0.57x
Net debt / EBITDA1.28x
Interest coverage6.27x
Owners' fund to total sources53.32%
Debt to assets30.42%
Cash flow
Cash from Operating Activity (latest year)Rs 8 Cr
Cash from Investing Activity (latest year)Rs -2 Cr
Cash from Financing Activity (latest year)Rs -6 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs 6 Cr
FCFE (approx.: FCF + change in debt)Rs 2 Cr
Cash from ops / profit, 5 years0.89x
Sales to cash flow12.00x
Statement figures
Net sales (TTM)Rs 97 Cr
Net sales (latest year)Rs 92 Cr
Sales (latest quarter)Rs 24 Cr
Operating profit excl. other income (latest year)Rs 18 Cr
Operating profit (latest quarter)Rs 5 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 19 Cr
PBDT (TTM)Rs 17 Cr
Profit before tax (TTM)Rs 13 Cr
Tax (latest year)Rs 5 Cr
Net profit (TTM)Rs 8 Cr
Net profit (latest year)Rs 7 Cr
Net profit (latest quarter)Rs 3 Cr
Depreciation (TTM)Rs 4 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 62 Cr
Total expenditure (latest year)Rs 74 Cr
Total income (latest year)Rs 92 Cr
Share capitalRs 21 Cr
ReservesRs 28 Cr
Shareholders' fundsRs 49 Cr
Total assetsRs 91 Cr
Net blockRs 55 Cr
ReceivablesRs 7 Cr
InventoryRs 24 Cr
Other liabilitiesRs 15 Cr
Shares outstanding (crore)2.09
Ownership
Promoter holding73.07% (+0.01 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 31.1 is at the 2th percentile of its own 8.2-year range (median 47.5, low 20.1, high 70.7).
P/B 5.30 is at the 13th percentile (median 9.13).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodAARONNifty 50Difference
1 week+5.5%-2.8% +8.3 pts
1 month-3.5%-6.8% +3.3 pts
3 months+3.8%-7.6% +11.4 pts
6 months+12.7%+0.4% +12.3 pts
1 year-36.1%-9.9% -26.1 pts
2 years-6.2%-13.6% +7.4 pts
3 years-0.5%+14.2% -14.6 pts
5 years+148.0%+27.9% +120.1 pts

Red flags

F-score 7 of 8
lookInventory outrunning sales Inventory grew 53% vs sales +18% in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-09-24Amar Chinubhai Doshi HUFPromoter groupbuy4,075SAST Open Market
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹24 Cr +27.0% vs Jun 2025. Net profit ₹3 Cr +141.5%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-14Dividend - Re 0.50 Per Share
2025-08-25Bonus 1:10.5000
2025-08-08Dividend - Rs 1.20 Per Share
2024-09-17Annual General Meeting/Dividend - Re 1 Per Share
2023-08-28Annual General Meeting/Dividend - Re 1 Per Sh
2022-09-01Annual General Meeting/Dividend - Rs 0.80 Per Share
2021-09-08 Annual General Meeting
DateTypeWhat it says
2026-09-26UpdatesDisclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2026-09-15Disclosure under SEBI TakeovAaron Industries Limited has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Sub...
2026-08-21UpdatesTranscript of the 13th Annual General Meeting of the Company.
2026-08-21Concall / analyst meetTranscript
2026-08-20Shareholder meetingAaron Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 19, 2026
2026-08-19Shareholder meetingProceedings of Annual General Meeting held on August 19, 2026
2026-08-17Concall / analyst meetLink of Recording
2026-08-14Investor PresentationInvestor Presentation
2026-08-12General UpdatesSubmission of Unaudited Financial Results for the Quarter Ended June 30, 2026 due to Technical Issue in Accessing Earlier Filing on NSE Website
2026-08-11Board meeting outcomeAaron Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-11Press ReleaseA press release dated August 11, 2026, titled "Aaron Industries Limited Strengthens Home Lift EVOQ360 Business with Pan-India Distribution and Expan...
2026-08-10Concall / analyst meetSchedule of earnings call for the quarter ended June 30, 2026
2026-07-25UpdatesA letter providing the weblink, including the exact path, for accessing the Annual Report for FY 2025-26, which has been sent to those Members whose e...
2026-07-25Shareholder meetingNotice of Annual General Meeting to be held on August 19, 2026
2026-07-24Record DateRecord date for the purpose of Dividend is 14-Aug-2026.
2026-07-24AppointmentAppointment of Mr Karan Amar Doshi as Whole-Time Director of the company w.e.f. February 01, 2027.
2026-07-24AppointmentRe-Appointment of Mr Amar Chinubhai Doshi as Chairman and Managing Director of the company w.e.f. February 01, 2027.
2026-07-24Board meeting outcomeOutcome of Board Meeting held on July 24, 2026.
2026-07-24Board meeting outcomeOutcome of Board Meeting held on July 24, 2026.
2026-07-15Concall / analyst meetOutcome of Meeting with Analyst/Investor
2026-07-09Concall / analyst meetSchedule of meet
2026-07-08Concall / analyst meetCancellation of Schedule of Analyst / Institutional Investor Meet
2026-07-03Concall / analyst meetSchedule of meet
2026-05-16Press ReleaseA press release dated May 16, 2026, titled "Financial Highlights Quarter and Year Ended March 31, 2026".
2026-05-16Investor PresentationInvestor Presentation
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03