MarketFriction

Airan Ltd

NSE AIRAN · BSE 543811 · IT Enabled Services
₹15.60 -3.58%
NSE close2026-10-01
52 week range12.63 - 26.59
Market cap₹201 Cr.
P/E13.4
Price band 20% Delivery 77.5%

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
Sales23.5521.9525.8422.9522.8123.6024.7222.9623.8326.5128.0723.70
Expenses19.4518.4019.3318.5021.0618.9220.0919.7621.3423.9923.2721.13
Operating Profit4.103.556.514.451.754.684.633.202.492.524.802.57
OPM %17.41%16.17%25.19%19.39%7.67%19.83%18.73%13.94%10.45%9.51%17.10%10.84%
Other Income0.450.580.4221.99-1.89-3.00-6.811.32-0.948.10-2.855.95
Interest0.050.050.020.01-0.030.000.040.010.000.010.010.01
Depreciation0.961.080.900.941.001.141.201.021.041.081.110.98
Profit before tax3.543.006.0125.49-1.110.54-3.423.490.519.530.837.53
Tax %18.64%16.67%29.28%15.18%137.84%-153.70%3.22%24.36%60.78%17.63%65.06%19.12%
Net Profit2.872.504.2621.62-2.641.37-3.542.640.207.850.286.09
EPS in Rs0.230.200.341.73-0.210.11-0.280.210.020.630.020.49
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales26293344576377869294101102
Expenses212426354653677276798890
Operating Profit55791110101417161312
OPM %18%16%21%20%19%16%13%17%18%16%13%12%
Other Income12331252210610
Interest111110000000
Depreciation322544444444
Profit before tax236587101215211418
Tax %33%26%26%29%16%22%17%23%23%22%24%
Net Profit1254668911171114
EPS in Rs1.360.921.850.300.510.450.680.740.911.340.881.16
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth15%10%6%9%
Compounded Profit Growth21%4%-12%793%
Stock Price CAGR%-5%-13%-34%
Return on Equity7%7%7%4%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital5512121225252525252525
Reserves13142367625661697890106117
Borrowings10813978622010
Other Liabilities23241112161619212124
Total Liabilities3030519292100108112124135153166
Fixed Assets131415555456595662676663
CWIP010000000222
Investments040139371814142140
Other Assets171235252941413848536462
Total Assets3030519292100108112124135153166
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity111-1082-11111182195
Cash from Investing Activity-6-81-1411-10-7-5-10-0-17
Cash from Financing Activity6-218-5-30-2-4-0-20-1
Net Cash Flow0110-111-0-1-013-919-13
Free Cash Flow-57-136-2-84108-8164
CFO/OP32%250%-193%143%52%14%133%132%142%36%151%61%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1318117684749611277701097486
Inventory Days
Days Payable
Cash Conversion Cycle1318117684749611277701097486
Working Capital Days1864125213720521415213899144108132
ROCE %6%8%7%9%6%10%8%7%12%13%11%8%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters72.38%72.37%72.37%72.37%72.34%72.34%72.34%72.34%72.21%72.21%72.21%72.21%
FIIs0.00%0.00%0.00%0.00%0.01%0.09%0.00%0.01%0.00%0.13%0.00%0.00%
Public27.62%27.62%27.63%27.62%27.65%27.57%27.66%27.64%27.77%27.66%27.77%27.79%
No. of Shareholders48,85850,03356,29556,60864,24664,39363,81262,26760,32858,35357,75856,652

Fundamentals

Market Cap₹ 201 Cr.
Current Price₹ 16.4
Stock P/E13.4
Book Value₹ 11.4
ROCE7.61 %
ROE4.49 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)9%
Compounded Profit Growth (TTM)793%
Standalone figures.
Valuation
Market capRs 195 Cr
Enterprise valueRs 185 Cr
P/E (TTM)13.53x
Price to book1.38x
Price to sales1.91x
EV / EBITDA8.19x
EV / EBIT10.07x
EV / sales1.82x
Price to cash flow42.03x
Earnings yield7.39%
P/E, 3-year average20.02x
P/B, 3-year average2.07x
P/E, 5-year average21.12x
P/B, 5-year average2.06x
Profitability
Operating margin (excl. other income)12.82%
Operating margin (incl. other income)18.38%
EBITDA margin22.16%
Pre-tax margin18.02%
Net profit margin14.12%
Net margin, latest quarter25.70%
ROE8.04%
ROCE10.51%
ROA6.87%
ROE, 3-year average10.71%
ROCE, 3-year average13.85%
ROA, 3-year average9.09%
ROE, 5-year average10.17%
ROCE, 5-year average12.95%
ROA, 5-year average8.56%
ROIC (approx.)10.65%
Tax rate23.54%
Other income / net worth3.97%
Growth
Sales growth (latest year)7.75%
Profit growth (latest year)-34.68%
Sales CAGR, 3 years5.54%
Sales CAGR, 5 years10.03%
Profit CAGR, 3 years5.81%
Profit CAGR, 5 years14.54%
Sales growth QoQ-15.57%
Profit growth QoQ2075.00%
Sales growth YoY (latest quarter)3.22%
Profit growth YoY (latest quarter)130.68%
Per share
EPS (TTM)Rs 1.15
EPS (latest year)Rs 0.88
EPS (latest quarter)Rs 0.49
EPS, 3-year averageRs 1.04
EPS, 5-year averageRs 0.91
Book value per shareRs 11.35
Sales per shareRs 8.17
Cash flow per shareRs 0.37
Free cash flow per shareRs 0.32
Efficiency
Asset turnover0.61x
Fixed asset turnover1.62x
Debtor days86 days
Debtors turnover4.22x
Cash conversion cycle86 days
Working capital days132 days
Leverage
Cash and bankRs 10 Cr
Net debtRs -10 Cr
Net debt / EBITDA-0.43x
Interest coverage921.00x
Owners' fund to total sources85.31%
Cash flow
Cash from Operating Activity (latest year)Rs 5 Cr
Cash from Investing Activity (latest year)Rs -17 Cr
Cash from Financing Activity (latest year)Rs -1 Cr
Net Cash Flow (latest year)Rs -13 Cr
Free cash flow (latest year)Rs 4 Cr
Cash from ops / profit, 5 years0.98x
Sales to cash flow21.85x
Statement figures
Net sales (TTM)Rs 102 Cr
Net sales (latest year)Rs 101 Cr
Sales (latest quarter)Rs 24 Cr
Operating profit excl. other income (latest year)Rs 13 Cr
Operating profit (latest quarter)Rs 3 Cr
Other income (TTM)Rs 10 Cr
EBITDA (TTM)Rs 23 Cr
PBDT (TTM)Rs 23 Cr
Profit before tax (TTM)Rs 18 Cr
Tax (latest year)Rs 3 Cr
Net profit (TTM)Rs 14 Cr
Net profit (latest year)Rs 11 Cr
Net profit (latest quarter)Rs 6 Cr
Depreciation (TTM)Rs 4 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 31 Cr
Total expenditure (latest year)Rs 88 Cr
Total income (latest year)Rs 107 Cr
Share capitalRs 25 Cr
ReservesRs 117 Cr
Shareholders' fundsRs 142 Cr
Total assetsRs 166 Cr
Net blockRs 63 Cr
Capital work in progressRs 2 Cr
InvestmentsRs 40 Cr
ReceivablesRs 24 Cr
Other liabilitiesRs 24 Cr
Shares outstanding (crore)12.50
Ownership
Promoter holding72.21% (-0.13 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 13.5 is at the 3th percentile of its own 8.0-year range (median 34.4, low 12.9, high 362.0).
P/B 1.38 is at the 3th percentile (median 2.83).
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.
PeriodAIRANNifty 50Difference
1 week-5.9%-2.8% -3.1 pts
1 month+4.6%-6.8% +11.3 pts
3 months-4.3%-7.6% +3.3 pts
6 months+21.6%+0.4% +21.2 pts
1 year-37.9%-9.9% -28.0 pts
2 years-60.2%-13.6% -46.6 pts
3 years-36.7%+14.2% -50.9 pts
5 years-29.7%+27.9% -57.6 pts

Red flags

F-score 4 of 8
lookAuditor change Auditor change 2026-09-29: Airan Limited has informed the Exchange regarding Change in Auditors of the company.
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.

Latest quarter

Jun 2026
Sales ₹24 Cr +3.2% vs Jun 2025. Net profit ₹6 Cr +130.7%.
Against our estimate for Jun 2026: sales -8.6%, profit +275.9% in line. Our estimate for Sep 2026: sales Rs 26 Cr, profit Rs 3 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2019-08-14 Annual General Meeting
DateTypeWhat it says
2026-10-01ResignationResignation of Director/KMP/SMP
2026-10-01ResignationResignation of Director/KMP/SMP
2026-10-01ResignationResignation of Mr Abhishek Sandeepkumar Agrawal as Non- Executive Director of the company w.e.f. October 01, 2026.
2026-09-29Change in ManagementChange in Management
2026-09-29Change in AuditorsChange in Auditors of the company.
2026-09-29Shareholder meetingVoting results.
2026-09-29UpdatesAiran Limited has informed the Exchange inadvertent incorrect date entered while uploading AGM proceedings.
2026-09-26Shareholder meetingProceedings of Annual General Meeting held on September 26, 2025
2026-09-16UpdatesSubmission regarding letter sent to members.
2026-09-04Shareholder meetingNotice of undefined to be held on September 26, 2026
2026-08-31ResignationResignation of Director/KMP/SMP
2026-08-31ResignationResignation of Director/KMP/SMP
2026-08-31ResignationResignation of Mr Siddharth Sampatji Dugar as Non- Executive Independent Director of the company w.e.f. August 31, 2026.
2026-08-31ResignationResignation of Mrs Bhoomika Aditya Gupta as Non- Executive Independent Director of the company w.e.f. August 31, 2026.
2026-08-31Board meeting outcomeOutcome of Board Meeting held on August 31, 2026.
2026-08-13Board meeting outcomeAiran Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-14Reply to Clarification- FinaThe Exchange had sought clarification from Airan Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligati...
2026-06-25Clarification - Financial ReThe Exchange has sought clarification from Airan Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligati...
2026-06-09Disclosure under SEBI TakeovSandeepkumar Vishwanath Agrawal   has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of In...
2026-06-02UpdatesRevised outcome.
2026-05-30Board meeting outcomeAiran Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-02-14Board meeting outcomeAiran Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2025-11-14Board meeting outcomeAiran Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
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.

Quick answers

What is the market cap of Airan Ltd?

Airan Ltd (AIRAN) has a market capitalisation of Rs 201 Cr. at the 2026-10-01 close.

What is the P/E ratio of Airan Ltd?

Airan Ltd trades at a P/E of 13.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were Airan Ltd's latest quarterly results?

In the Jun 2026 quarter, Airan Ltd sales was Rs 24 Cr (+3.2% vs Jun 2025) and net profit was Rs 6 Cr.

What is the 52-week high and low of Airan Ltd?

The 52-week high is Rs 26.59 and the 52-week low is Rs 12.63.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03