MarketFriction

Arfin India Ltd

NSE ARFIN · BSE 539151 · Aluminium
₹87.25 -2.18%
NSE close2026-10-01
52 week range45.16 - 106.20
Market cap₹1,492 Cr.
P/E92.6
Price band 20% Delivery 30.1%

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
Sales134.22115.44136.80132.90149.11180.37153.37108.75128.04196.41191.70207.96
Expenses127.11108.19128.52123.81139.43169.43146.78102.22119.22182.86177.24198.65
Operating Profit7.117.258.289.099.6810.946.596.538.8213.5514.469.31
OPM %5.30%6.28%6.05%6.84%6.49%6.07%4.30%6.00%6.89%6.90%7.54%4.48%
Other Income0.710.470.200.250.240.141.330.460.490.140.130.28
Interest4.224.665.364.285.365.564.624.545.095.153.924.48
Depreciation0.960.931.091.001.011.021.021.081.091.141.341.20
Profit before tax2.642.132.034.063.554.502.281.373.137.409.333.91
Tax %34.09%7.04%-7.39%25.86%27.32%32.67%76.32%26.28%34.50%34.86%38.80%9.72%
Net Profit1.741.992.183.012.583.030.541.022.054.825.713.53
EPS in Rs0.110.130.140.180.150.180.030.060.120.290.340.21
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales286363466413359303526544535616625724
Expenses271336421390364287502518505579582678
Operating Profit15274523-616242630364346
OPM %5%8%10%6%-1.6%5%4.6%4.9%6%6%7%6%
Other Income101022222211
Interest5610121411121419201919
Depreciation112233344455
Profit before tax10203410-215101110142124
Tax %34%36%36%34%5%12%6%6%15%36%36%
Net Profit713227-224910891416
EPS in Rs0.610.891.370.41-1.360.250.580.650.520.540.810.96
Dividend Payout %7%6%12%0%0%0%0%0%0%0%14%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth8%16%5%22%
Compounded Profit Growth7%35%10%125%
Stock Price CAGR27%68%31%84%
Return on Equity8%9%8%8%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital334131616161616161717
Reserves15215169704952627280140152
Borrowings34446295114109109112112120117129
Other Liabilities385144352425535867697171
Total Liabilities90119160213224199230247267285344369
Fixed Assets121421303846616265666474
CWIP240101713001040
Investments004455000008
Other Assets76101135168164135168185201220277287
Total Assets90119160213224199230247267285344369
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity6-2-22-1013231111295-2130
Cash from Investing Activity-5-4-7-20-17-60-3-8-4-9-22
Cash from Financing Activity1629304-18-12-8-14-830-8
Net Cash Flow200-0-00-007-70-0
Free Cash Flow1-7-26-30-41868211-2719
CFO/OP55%-10%-64%-6%104%-427%67%46%107%24%-53%76%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days344259594432515138363119
Inventory Days759592791141211688489124130151
Days Payable607146212123724449554542
Cash Conversion Cycle48661051171381291479178105116129
Working Capital Days41732373014523833396660
ROCE %24%25%29%30%12%-4%8%12%13%14%14%14%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.11%74.09%74.09%69.79%69.79%69.79%69.79%69.79%69.79%69.77%69.77%69.77%
FIIs0.95%2.56%2.56%2.41%2.41%2.41%2.41%2.41%2.64%2.68%1.54%0.79%
Government0.08%0.08%0.08%0.07%0.07%0.19%0.19%0.04%0.04%0.04%0.04%0.04%
Public24.86%23.27%23.26%27.73%27.73%27.60%27.61%27.75%27.53%27.53%28.64%29.39%
No. of Shareholders5,4005,6336,2817,1127,9978,3929,3539,0819,86811,01411,97613,548

Fundamentals

Market Cap₹ 1,492 Cr.
Current Price₹ 88.2
Stock P/E92.6
Book Value₹ 9.99
ROCE14.0 %
ROE8.34 %
Dividend Yield0.14 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)22%
Compounded Profit Growth (TTM)125%
Standalone figures.
Valuation
Market capRs 1,472 Cr
Enterprise valueRs 1,593 Cr
P/E (TTM)91.38x
Price to book8.74x
Price to sales2.03x
EV / EBITDA33.75x
EV / EBIT37.55x
EV / sales2.20x
Price to cash flow49.28x
Earnings yield1.09%
Dividend yield0.13%
P/E, 3-year average80.04x
P/B, 3-year average6.24x
P/E, 5-year average59.74x
P/B, 5-year average5.12x
Profitability
Operating margin (excl. other income)6.94%
Operating margin (incl. other income)7.13%
EBITDA margin6.52%
Pre-tax margin3.28%
Net profit margin2.22%
Net margin, latest quarter1.70%
ROE8.36%
ROCE13.97%
ROA3.81%
ROE, 3-year average8.17%
ROCE, 3-year average13.84%
ROA, 3-year average3.23%
ROE, 5-year average9.91%
ROCE, 5-year average13.33%
ROA, 5-year average3.51%
ROIC (approx.)9.40%
Tax rate35.99%
Other income / net worth0.72%
Growth
Sales growth (latest year)1.48%
Profit growth (latest year)48.63%
Sales CAGR, 3 years4.72%
Sales CAGR, 5 years15.54%
Profit CAGR, 3 years9.64%
Profit CAGR, 5 years27.60%
Sales growth QoQ8.48%
Profit growth QoQ-38.18%
Sales growth YoY (latest quarter)91.23%
Profit growth YoY (latest quarter)246.08%
Per share
EPS (TTM)Rs 0.95
EPS (latest year)Rs 0.81
EPS (latest quarter)Rs 0.21
EPS, 3-year averageRs 0.62
EPS, 5-year averageRs 0.62
Book value per shareRs 9.99
Sales per shareRs 42.92
Cash flow per shareRs 1.77
Free cash flow per shareRs 1.13
Dividend per share (latest year)Rs 0.11
Dividend per share, 3-year averageRs 0.11
Dividend per share, 5-year averageRs 0.11
Dividends
Dividend payout13.68%
Dividend payout, 3-year average13.68%
Dividend payout, 5-year average13.68%
Efficiency
Asset turnover1.69x
Fixed asset turnover8.43x
Inventory turnover2.61x
Inventory days140 days
Debtor days19 days
Debtors turnover18.80x
Creditor days42 days
Cash conversion cycle129 days
Working capital days60 days
Leverage
Total debtRs 129 Cr
Cash and bankRs 9 Cr
Net debtRs 120 Cr
Debt to equity0.77x
Net debt / EBITDA2.55x
Interest coverage2.28x
Current ratio (filing 2026-03-31)1.64x
Quick ratio (filing 2026-03-31)0.42x
Trade payables (filing 2026-03-31)Rs 59 Cr
Owners' fund to total sources45.69%
Debt to assets35.05%
Cash flow
Cash from Operating Activity (latest year)Rs 30 Cr
Cash from Investing Activity (latest year)Rs -22 Cr
Cash from Financing Activity (latest year)Rs -8 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs 19 Cr
FCFE (approx.: FCF + change in debt)Rs 31 Cr
Cash from ops / profit, 5 years1.08x
Sales to cash flow20.92x
Statement figures
Net sales (TTM)Rs 724 Cr
Net sales (latest year)Rs 625 Cr
Sales (latest quarter)Rs 208 Cr
Operating profit excl. other income (latest year)Rs 43 Cr
Operating profit (latest quarter)Rs 9 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 47 Cr
PBDT (TTM)Rs 29 Cr
Profit before tax (TTM)Rs 24 Cr
Tax (latest year)Rs 8 Cr
Net profit (TTM)Rs 16 Cr
Net profit (latest year)Rs 14 Cr
Net profit (latest quarter)Rs 4 Cr
Depreciation (TTM)Rs 5 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 19 Cr
Cost of goods sold (latest year)Rs 555 Cr
Total expenditure (latest year)Rs 582 Cr
Total income (latest year)Rs 626 Cr
Share capitalRs 17 Cr
ReservesRs 152 Cr
Shareholders' fundsRs 168 Cr
Total assetsRs 369 Cr
Net blockRs 74 Cr
InvestmentsRs 8 Cr
ReceivablesRs 33 Cr
InventoryRs 213 Cr
Other liabilitiesRs 71 Cr
Shares outstanding (crore)16.87
Ownership
Promoter holding69.77% (-0.02 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 91.4 is at the 85th percentile of its own 8.4-year range (median 45.7, low 6.9, high 191.2).
P/B 8.74 is at the 83th percentile (median 4.77).
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.
PeriodARFINNifty 50Difference
1 week-2.4%-2.8% +0.4 pts
1 month+2.0%-6.8% +8.8 pts
3 months-5.2%-7.6% +2.4 pts
6 months+19.0%+0.4% +18.6 pts
1 year+85.6%-9.9% +95.6 pts
3 years+122.1%+14.2% +107.9 pts
5 years+1276.2%+27.9% +1248.3 pts

Red flags

F-score 6 of 8
explainWeak cash conversion Cash from operations was 43% of net profit over the last 3 years
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 ₹208 Cr +91.2% vs Jun 2025. Net profit ₹4 Cr +246.1%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-24Interim Dividend - Re 0.12 Per Share
2025-11-17Interim Dividend - Rs 0.11 Per Share
DateTypeWhat it says
2026-09-21Shareholder meetingVoting results.
2026-09-19Shareholder meetingProceedings of Annual General Meeting held on September 19, 2026
2026-09-18Record DateRecord date for the purpose of Interim Dividend is 24-Sep-2026.
2026-09-18DividendBoard of Directors at its meeting held on September 18, 2026, declared Interim Dividend of Rs. 0.12 per equity share.
2026-08-31Disclosure under SEBI TakeovArfin India Limited has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substant...
2026-08-27Disclosure under SEBI TakeovMahendrakumar Rikhavchand Shah has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of Indi...
2026-08-25General UpdatesIntimation Of Dispatch Of Physical Letter To Shareholders Whose Email Id Are Not Registered With Company/Depository
2026-08-24Shareholder meetingNotice of Annual General Meeting to be held on September 19, 2026
2026-08-19General UpdatesIntimation of 34th Annual General Meeting ("AGM") of the Company for Financial Year 2025-26
2026-08-11Board meeting outcomeArfin India Limited has submitted to the Exchange, the Unaudited financial results for the period ended Jun 30, 2026.
2026-07-31Credit RatingCredit Rating
2026-07-16Structural Digital DatabaseSDD Compliance certificate for the quarter ended June 30, 2026
2026-06-29Credit RatingCredit Rating
2026-06-19Order winBagging/Receiving of orders/contracts
2026-06-17General UpdatesThe Exchange of Memorandum of Understanding by wholly owned Subsidiary
2026-05-11Board meeting outcomeArfin India Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-05Disclosure under SEBI TakeovArfin India Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substanti...
2026-04-15Structural Digital DatabaseS about SDD Compliance Certificate Under SEBI (Prohibition of Insider Trading) Regulation, 2015 for quarter and year ended March 31, 2026
2026-03-30Order winReceiving of Master letter of Acceptance from Dakshin Gujarat Vij Company Limited
2026-03-25General UpdatesSubscription of equity shares of companys Wholly Owned Subsidiary via Right Issue
2026-03-14General UpdatesTo subscribe equity shares of companys Wholly Owned Subsidiary via Right Issue
2026-03-14Board meeting outcomeOutcome of Board Meeting held on March 14, 2026.
2026-02-19Commencement of commercial pInstallation of New Machinery for Commencement of commercial production.
2026-02-02UpdatesClarification Regarding Non-Publication Of Newspaper Advertisement Under Regulation 47 Of SEBI(LODR) Regulation, 2015.
2026-01-31Board meeting outcomeBoard meeting held on January 31, 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.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Arfin India Ltd?

Arfin India Ltd (ARFIN) has a market capitalisation of Rs 1,492 Cr. at the 2026-10-01 close.

What is the P/E ratio of Arfin India Ltd?

Arfin India Ltd trades at a P/E of 92.6 on trailing twelve-month profit, at the 2026-10-01 close.

What were Arfin India Ltd's latest quarterly results?

In the Jun 2026 quarter, Arfin India Ltd sales was Rs 208 Cr (+91.2% vs Jun 2025) and net profit was Rs 4 Cr.

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

The 52-week high is Rs 106.20 and the 52-week low is Rs 45.16.

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