MarketFriction

AKI India Ltd

NSE AKI · BSE 542020 · Leather And Leather Products
₹6.16 +0.33%
NSE close2026-10-01
52 week range3.80 - 9.49
Market cap₹63.7 Cr.
P/E21.0
ESM Price band 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

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales17.1219.2820.1220.7713.5622.6124.0217.6627.5225.5636.5829.04
Expenses16.5018.8619.4820.2713.9322.0724.8418.3327.0627.2537.9929.07
Operating Profit0.620.420.640.50-0.370.54-0.82-0.670.46-1.69-1.41-0.03
OPM %3.62%2.18%3.18%2.41%-2.73%2.39%-3.41%-3.79%1.67%-6.61%-3.85%-0.10%
Other Income0.600.940.950.951.751.432.391.981.403.933.631.73
Interest0.440.500.360.390.400.470.630.520.560.500.540.49
Depreciation0.470.470.510.440.430.440.500.460.490.530.550.48
Profit before tax0.310.390.720.620.551.060.440.330.811.211.130.73
Tax %-45.16%35.90%19.44%30.65%29.09%32.08%70.45%30.30%23.46%9.92%32.74%28.77%
Net Profit0.450.250.570.430.390.720.130.250.621.090.760.51
EPS in Rs0.070.040.070.050.040.080.010.020.060.110.070.05
Mar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales143340414661707181107119
Expenses143339404559676981111121
Operating Profit-00111232-0-4-3
OPM %-1.9%1.0%2.4%2.2%2.2%3.8%4.1%3.3%-0.2%-3.8%-2.2%
Other Income1222333371111
Interest02221122222
Depreciation01111222222
Profit before tax0-1002222334
Tax %50%-7%-55%45%31%6%27%27%37%28%
Net Profit0-1001211223
EPS in Rs0.18-1.100.170.030.230.250.170.160.190.190.29
Dividend Payout %0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth10%%15%52%
Compounded Profit Growth27%%18%126%
Stock Price CAGR%21%-16%-31%
Return on Equity%3%2%2%
Mar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital0.8722581013171821
Reserves2111-042434780
Borrowings8212221162930182227
Other Liabilities5151513131719262733
Total Liabilities16384040376063104114160
Fixed Assets5910981412131214
CWIP01222347910
Investments0000021112
Other Assets102828292742468393135
Total Assets16384040376063104114160
Mar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1-1312-18-3-16
Cash from Investing Activity-3-11-1-1-18-2-5
Cash from Financing Activity11-40-136523
Net Cash Flow-0-0-000012
Free Cash Flow-1-22-0-0-23-5-21
CFO/OP131%-59%353%58%96%-728%1,213%367%
Mar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days16115012110895106103109129105
Inventory Days102128120136108132129179170210
Days Payable155185153136111124118136125102
Cash Conversion Cycle108928810792114114151173214
Working Capital Days128118981261023031130146218
ROCE %7%7%11%8%6%5%4%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters68.64%68.64%53.57%54.24%54.72%54.72%54.72%53.92%53.92%53.92%53.92%53.92%
FIIs0.00%0.00%3.50%3.39%3.39%3.39%2.71%2.20%0.98%0.28%0.00%0.00%
Public31.36%31.36%42.93%42.37%41.89%41.90%42.58%43.87%45.10%45.80%46.08%46.08%
No. of Shareholders5,4694,4094,9676,7657,74910,15312,16412,01114,03513,89914,37815,250

Fundamentals

Market Cap₹ 63.7 Cr.
Current Price₹ 6.17
Stock P/E21.0
Book Value₹ 9.72
ROCE4.49 %
ROE2.32 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)52%
Compounded Profit Growth (TTM)126%
Consolidated figures.
Valuation
Market capRs 64 Cr
Enterprise valueRs 86 Cr
P/E (TTM)21.33x
Price to book0.63x
Price to sales0.54x
EV / EBITDA10.69x
EV / EBIT14.36x
EV / sales0.72x
Earnings yield4.69%
P/E, 3-year average63.11x
P/B, 3-year average1.46x
P/E, 5-year average41.99x
P/B, 5-year average1.22x
Profitability
Operating margin (excl. other income)-3.84%
Operating margin (incl. other income)6.39%
EBITDA margin6.76%
Pre-tax margin3.27%
Net profit margin2.51%
Net margin, latest quarter1.76%
ROE2.33%
ROCE4.50%
ROA1.41%
ROE, 3-year average2.90%
ROCE, 3-year average5.36%
ROA, 3-year average1.53%
ROE, 5-year average6.43%
ROCE, 5-year average6.71%
ROA, 5-year average1.97%
ROIC (approx.)3.49%
Tax rate28.41%
Other income / net worth10.95%
Growth
Sales growth (latest year)32.52%
Profit growth (latest year)14.88%
Sales CAGR, 3 years15.17%
Sales CAGR, 5 years18.43%
Profit CAGR, 3 years18.49%
Profit CAGR, 5 years11.70%
Sales growth QoQ-20.61%
Profit growth QoQ-32.89%
Sales growth YoY (latest quarter)64.44%
Profit growth YoY (latest quarter)104.00%
Per share
EPS (TTM)Rs 0.29
EPS (latest year)Rs 0.19
EPS (latest quarter)Rs 0.05
EPS, 3-year averageRs 0.18
EPS, 5-year averageRs 0.60
Book value per shareRs 9.72
Sales per shareRs 11.50
Cash flow per shareRs -1.54
Free cash flow per shareRs -2.03
Efficiency
Asset turnover0.67x
Fixed asset turnover7.89x
Inventory turnover1.90x
Inventory days192 days
Debtor days105 days
Debtors turnover3.46x
Creditor days102 days
Cash conversion cycle214 days
Working capital days218 days
Leverage
Total debtRs 27 Cr
Cash and bankRs 5 Cr
Net debtRs 22 Cr
Debt to equity0.27x
Net debt / EBITDA2.76x
Interest coverage2.86x
Owners' fund to total sources62.64%
Debt to assets16.77%
Cash flow
Cash from Operating Activity (latest year)Rs -16 Cr
Cash from Investing Activity (latest year)Rs -5 Cr
Cash from Financing Activity (latest year)Rs 23 Cr
Net Cash Flow (latest year)Rs 2 Cr
Free cash flow (latest year)Rs -21 Cr
FCFE (approx.: FCF + change in debt)Rs -17 Cr
Cash from ops / profit, 5 years-4.25x
Statement figures
Net sales (TTM)Rs 119 Cr
Net sales (latest year)Rs 107 Cr
Sales (latest quarter)Rs 29 Cr
Operating profit excl. other income (latest year)Rs -4 Cr
Operating profit (latest quarter)Rs -0 Cr
Other income (TTM)Rs 11 Cr
EBITDA (TTM)Rs 8 Cr
PBDT (TTM)Rs 6 Cr
Profit before tax (TTM)Rs 4 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 3 Cr
Net profit (latest year)Rs 2 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 98 Cr
Total expenditure (latest year)Rs 111 Cr
Total income (latest year)Rs 118 Cr
Share capitalRs 21 Cr
ReservesRs 80 Cr
Shareholders' fundsRs 100 Cr
Total assetsRs 160 Cr
Net blockRs 14 Cr
Capital work in progressRs 10 Cr
InvestmentsRs 2 Cr
ReceivablesRs 31 Cr
InventoryRs 51 Cr
Other liabilitiesRs 33 Cr
Shares outstanding (crore)10.32
Ownership
Promoter holding53.92% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 21.3 is at the 31th percentile of its own 6.8-year range (median 47.3, low 10.2, high 259.8).
P/B 0.63 is at the 5th percentile (median 2.89).
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.
PeriodAKINifty 50Difference
1 week-10.1%-2.8% -7.3 pts
1 month+34.8%-6.8% +41.6 pts
3 months+26.2%-7.6% +33.8 pts
6 months+57.1%+0.4% +56.7 pts
1 year-37.3%-9.9% -27.4 pts
2 years-71.9%-13.6% -58.3 pts
3 years-41.9%+14.2% -56.1 pts
5 years+150.4%+27.9% +122.5 pts

Red flags

F-score 2 of 8
explainWeak cash conversion Cash from operations was -727% of net profit over the last 3 years
explainHigh accruals Profit exceeded operating cash by 11% of total assets in 2026
lookInventory outrunning sales Inventory grew 69% vs sales +33% in 2026
lookShare dilution Share count up 17% in a year
lookProfit leans on other income Other income was 405% of pre-tax profit in 2026
lookOn NSE surveillance On NSE surveillance: ESM
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 ₹29 Cr +64.4% vs Jun 2025. Net profit ₹1 Cr +104.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-20Annual General Meeting
2023-09-22Annual General Meeting
2023-06-22Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share0.2000
DateTypeWhat it says
2026-09-25Shareholder meetingVoting results of Annual General Meeting held on September 23, 2026
2026-09-25Shareholder meetingAki India Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 23, 2026
2026-09-23Shareholder meetingProceedings of Annual General Meeting held on September 23, 2026
2026-09-09Price movementSignificant movement in price has been observed in Aki India Limited. The Exchange, in order to ensure that investors have latest relevant information...
2026-09-07General UpdatesClarification sought on significant movement in price
2026-09-04Price movementSignificant movement in price has been observed in Aki India Limited. The Exchange, in order to ensure that investors have latest relevant information...
2026-09-02General UpdatesIntimation of Book Closure pursuant to Regulation 42 of the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015
2026-09-01Related Party TransactionsRelated Party Transactions
2026-09-01Shareholder meetingNotice of Annual General Meeting to be held on September 23, 2026
2026-09-01Board meeting outcomeOutcome of Board Meeting held on September 01, 2026.
2026-08-11Integrated Filing- FinancialIntegrated Filing (Financial) for the Quarter ended on 30th June, 2026
2026-08-11Board meeting outcomeAki India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-08ResignationResignation of Director/KMP/SMP
2026-07-08ResignationResignation of Director/KMP/SMP
2026-07-08ResignationResignation of Director/KMP/SMP
2026-07-08ResignationResignation of Director/KMP/SMP
2026-07-08CessationCessation of Mr Nandish Jani as Non- Executive Independent Director of the company w.e.f. July 07, 2026.
2026-07-08Disclosure under SEBI TakeovAki India Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial...
2026-07-07ResignationResignation of Director/KMP/SMP
2026-07-07AppointmentAppointment of Ms Naba Fatima as Non- Executive Director of the company w.e.f. July 07, 2026.
2026-07-07CessationCessation of Ms Hardika Ladha as Non- Executive Independent Director of the company w.e.f. July 07, 2026.
2026-07-07AppointmentAppointment of Mr Veqarul Amin as Non- Executive Independent Director of the company w.e.f. July 07, 2026.
2026-07-07ResignationResignation of Director/KMP/SMP
2026-07-07AppointmentAppointment of Mr Abdul Rashid Khan as Non- Executive Independent Director of the company w.e.f. July 07, 2026.
2026-07-07Board meeting outcomeOutcome of Board Meeting held on July 07, 2026.
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.
ESM: stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03