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Last Updated: April 2, 2026, 2:32 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: | NSE:

Aaron Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹126.81Fairly Valued by 3.10%vs CMP ₹123.00

P/E (35.6) × ROE (21.0%) × BV (₹21.10) × DY (0.49%)

₹60.32Overvalued by 50.96%vs CMP ₹123.00
MoS: -103.9% (Negative)Confidence: 66/100 (Moderate)Models: 1 Under, 9 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹143.6520%Under (+16.8%)
Graham NumberEarnings₹40.4715%Over (-67.1%)
Earnings PowerEarnings₹10.5610%Over (-91.4%)
DCFCash Flow₹50.0812%Over (-59.3%)
Net Asset ValueAssets₹21.177%Over (-82.8%)
EV/EBITDAEnterprise₹64.358%Over (-47.7%)
Dividend DiscountDividends₹33.008%Over (-73.2%)
Earnings YieldEarnings₹34.507%Over (-72%)
ROCE CapitalReturns₹51.878%Over (-57.8%)
Revenue MultipleRevenue₹37.305%Over (-69.7%)
Consensus (10 models)₹60.32100%Overvalued
Key Drivers: Wide model spread (₹11–₹144) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 13.3%

*Investments are subject to market risks

Investment Snapshot

71
Aaron Industries Ltd scores 71/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health73/100 · Strong
ROCE 18.6% GoodROE 21.0% ExcellentD/E 0.46 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money40/100 · Moderate
DII holding down 0.52% MF sellingPromoter holding at 73.1% Stable
Earnings Quality75/100 · Strong
OPM expanding (16% → 18%) ImprovingWorking capital: 14 days (improving) Efficient
Quarterly Momentum70/100 · Strong
Revenue (4Q): +22% YoY AcceleratingProfit (4Q): -8% YoY DecliningOPM: 20.9% (up 3.0% YoY) Margin expansion
Industry Rank85/100 · Strong
P/E 35.6 vs industry 61.2 Cheaper than peersROCE 18.6% vs industry 16.4% AverageROE 21.0% vs industry 15.9% Above peers3Y sales CAGR: 27% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:32 am

Market Cap 257 Cr.
Current Price 123
Intrinsic Value₹60.32
High / Low 258/107
Stock P/E35.6
Book Value 21.1
Dividend Yield0.49 %
ROCE18.6 %
ROE21.0 %
Face Value 10.0
PEG Ratio2.68

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Aaron Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Aaron Industries Ltd 257 Cr. 123 258/10735.6 21.10.49 %18.6 %21.0 % 10.0
Kaycee Industries Ltd 248 Cr. 782 1,732/63241.4 98.60.26 %30.6 %22.2 % 10.0
Cospower Engineering Ltd 167 Cr. 910 999/52843.2 1220.00 %14.4 %11.8 % 10.0
Amba Enterprises Ltd 134 Cr. 106 210/94.017.0 35.90.71 %20.6 %19.0 % 5.00
Artemis Electricals & Projects Ltd 396 Cr. 15.8 28.0/13.041.3 3.650.03 %11.7 %9.26 % 1.00
Industry Average12,116.17 Cr516.5461.1898.010.35%16.40%15.91%6.47

All Competitor Stocks of Aaron Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 13.6816.0615.5214.0014.6219.0817.1918.2918.3324.1119.2422.2423.20
Expenses 11.4313.2712.7411.8312.1015.4513.8915.0815.0619.0715.5818.1218.36
Operating Profit 2.252.792.782.172.523.633.303.213.275.043.664.124.84
OPM % 16.45%17.37%17.91%15.50%17.24%19.03%19.20%17.55%17.84%20.90%19.02%18.53%20.86%
Other Income 0.020.030.010.020.030.090.050.060.050.060.040.050.04
Interest 0.240.260.240.420.420.250.300.310.350.410.680.690.64
Depreciation 0.320.310.330.350.360.390.440.460.460.450.940.991.00
Profit before tax 1.712.252.221.421.773.082.612.502.514.242.082.493.24
Tax % 28.07%25.78%27.93%15.49%32.20%24.68%28.35%27.60%28.29%35.14%49.04%44.18%37.96%
Net Profit 1.241.661.611.201.202.331.871.821.802.751.061.392.02
EPS in Rs 0.620.830.800.570.571.110.890.870.861.320.510.660.96

Last Updated: February 6, 2026, 10:17 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 1:47 pm

MetricMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 3.314.8011.7717.5521.4024.9637.7455.8563.2377.9388.79
Expenses 3.174.5510.2115.5118.3321.4931.8846.3152.1163.0971.13
Operating Profit 0.140.251.562.043.073.475.869.5411.1214.8417.66
OPM % 4.23%5.21%13.25%11.62%14.35%13.90%15.53%17.08%17.59%19.04%19.89%
Other Income 0.010.000.020.030.040.060.040.060.140.190.19
Interest 0.080.170.140.290.590.440.191.011.341.362.42
Depreciation 0.010.010.100.200.550.630.851.151.421.813.38
Profit before tax 0.060.071.341.581.972.464.867.448.5011.8612.05
Tax % 33.33%28.57%29.85%32.28%31.47%21.54%23.66%27.28%25.53%30.52%
Net Profit 0.040.050.931.061.341.933.715.406.338.247.22
EPS in Rs 0.440.561.160.530.670.961.852.693.033.943.45
Dividend Payout % 0.00%0.00%0.00%0.00%23.55%31.21%21.65%18.59%16.54%15.25%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)25.00%1760.00%13.98%26.42%44.03%92.23%45.55%17.22%30.17%
Change in YoY Net Profit Growth (%)0.00%1735.00%-1746.02%12.44%17.61%48.20%-46.68%-28.33%12.95%

Aaron Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2016-2017 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:30%
3 Years:27%
TTM:23%
Compounded Profit Growth
10 Years:%
5 Years:44%
3 Years:31%
TTM:13%
Stock Price CAGR
10 Years:%
5 Years:71%
3 Years:29%
1 Year:58%
Return on Equity
10 Years:%
5 Years:23%
3 Years:23%
Last Year:21%

Last Updated: September 4, 2025, 9:55 pm

Balance Sheet

Last Updated: April 3, 2026, 3:00 am

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.190.191.884.785.2610.0410.0410.0410.4710.4720.95
Reserves 0.050.101.664.595.302.135.8510.4425.3732.5623.29
Borrowings 1.151.331.055.275.207.079.1511.3731.5631.8632.04
Other Liabilities 0.820.942.372.873.082.514.666.917.277.9411.10
Total Liabilities 2.212.566.9617.5118.8421.7529.7038.7674.6782.8387.38
Fixed Assets 0.100.121.458.719.2912.8814.8518.9224.3524.8856.38
CWIP 0.000.000.000.000.360.500.760.4126.9032.520.00
Investments 0.000.000.000.040.000.000.000.000.000.000.00
Other Assets 2.112.445.518.769.198.3714.0919.4323.4225.4331.00
Total Assets 2.212.566.9617.5118.8421.7529.7038.7674.6782.8387.38

Reserves and Borrowings Chart

Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -0.91-0.06-0.47-0.151.403.271.174.075.608.63
Cash from Investing Activity + -0.02-0.03-1.51-7.71-1.50-4.28-3.08-4.84-33.26-7.87
Cash from Financing Activity + 0.930.031.978.24-0.651.001.910.7827.69-0.72
Net Cash Flow 0.00-0.06-0.010.38-0.76-0.020.010.010.040.04
Free Cash Flow -0.94-0.10-1.90-7.61-0.10-1.36-1.92-0.80-27.740.64
CFO/OP -643%-16%-7%8%57%106%36%60%67%74%

Free Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-1.01-1.080.51-3.23-2.13-3.60-3.29-1.83-20.44-17.02

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 83.8153.2348.3838.2741.1125.3023.7016.6020.3824.45
Inventory Days 239.97180.69172.59157.50151.49140.40104.85142.94148.91120.29
Days Payable 155.2892.7695.9455.1342.1621.7932.8938.5724.2422.87
Cash Conversion Cycle 168.50141.17125.03140.65150.44143.9195.66120.97145.04121.87
Working Capital Days 120.2091.2577.8477.5861.2347.5361.2242.8128.1713.63
ROCE %15.95%47.67%19.34%16.84%16.63%22.81%29.71%19.83%18.62%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.97%74.97%73.06%73.06%73.06%73.06%73.06%73.06%73.06%73.06%73.00%73.06%
DIIs 0.00%0.00%0.00%0.00%0.00%0.00%0.52%0.52%0.52%0.43%0.00%0.00%
Public 25.03%25.03%26.94%26.94%26.94%26.94%26.43%26.43%26.43%26.51%27.00%26.94%
No. of Shareholders 6,9889,50310,67511,82612,49711,96511,51611,88411,47311,28013,72112,934

Shareholding Pattern Chart

No. of Shareholders

Aaron Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 7.866.005.373.701.92
Diluted EPS (Rs.) 7.866.005.373.701.92
Cash EPS (Rs.) 9.607.416.534.542.55
Book Value[Excl.RevalReserv]/Share (Rs.) 41.0934.2220.3915.8212.12
Book Value[Incl.RevalReserv]/Share (Rs.) 41.0934.2220.3915.8212.12
Dividend / Share (Rs.) 1.201.001.000.800.60
Revenue From Operations / Share (Rs.) 74.4160.3755.6037.5824.82
PBDIT / Share (Rs.) 14.3510.769.565.883.52
PBIT / Share (Rs.) 12.639.408.415.032.88
PBT / Share (Rs.) 11.338.127.404.842.44
Net Profit / Share (Rs.) 7.876.045.383.691.92
PBDIT Margin (%) 19.2817.8217.1815.6414.16
PBIT Margin (%) 16.9715.5615.1113.3811.62
PBT Margin (%) 15.2213.4413.3112.879.85
Net Profit Margin (%) 10.5710.019.679.827.73
Return on Networth / Equity (%) 19.1517.6626.3823.3415.82
Return on Capital Employeed (%) 20.9416.7031.2322.4717.05
Return On Assets (%) 9.958.4713.9412.488.86
Long Term Debt / Equity (X) 0.420.600.260.360.34
Total Debt / Equity (X) 0.740.880.550.570.46
Asset Turnover Ratio (%) 0.981.111.631.471.22
Current Ratio (X) 1.281.471.641.921.71
Quick Ratio (X) 0.460.430.400.930.42
Inventory Turnover Ratio (X) 4.812.863.683.642.88
Dividend Payout Ratio (NP) (%) 12.7015.8614.860.0016.38
Dividend Payout Ratio (CP) (%) 10.4212.9512.250.0012.33
Earning Retention Ratio (%) 87.3084.1485.140.0083.62
Cash Earning Retention Ratio (%) 89.5887.0587.750.0087.67
Interest Coverage Ratio (X) 11.048.389.5130.657.99
Interest Coverage Ratio (Post Tax) (X) 7.055.716.3520.265.36
Enterprise Value (Cr.) 371.39302.09194.58122.8162.95
EV / Net Operating Revenue (X) 4.774.783.483.252.53
EV / EBITDA (X) 24.7126.8120.2720.8017.83
MarketCap / Net Operating Revenue (X) 4.394.323.303.022.31
Retention Ratios (%) 87.2984.1385.130.0083.61
Price / BV (X) 7.957.628.997.174.72
Price / Net Operating Revenue (X) 4.394.323.303.022.31
EarningsYield 0.020.020.020.030.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Aaron Industries Ltd. is a Public Limited Listed company incorporated on 23/10/2013 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L31908GJ2013PLC077306 and registration number is 077306. Currently Company is involved in the business activities of Manufacture of lifting and handling equipment. Company's Total Operating Revenue is Rs. 77.93 Cr. and Equity Capital is Rs. 10.47 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Electric Equipment - GeneralB-65 & 66, Jawahar Road No. 4, Udhyog Nagar, Udhana, Surat Gujarat 394210Contact not found
Management
NamePosition Held
Mr. Amar Chinubhai DoshiChairman & Managing Director
Mr. Karan Amar DoshiWhole Time Director
Mr. Monish Amarbhai DoshiDirector & CFO
Mr. Pradeepkumar Sanmukhlal ChoksiIndependent Director
Mr. Hetal Rumendrabhai MehtaIndependent Director
Mrs. Shrungi Kiranbhai DesaiIndependent Director

FAQ

What is the intrinsic value of Aaron Industries Ltd and is it undervalued?

As of 15 April 2026, Aaron Industries Ltd's intrinsic value is ₹60.32, which is 50.96% lower than the current market price of ₹123.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (21.0 %), book value (₹21.1), dividend yield (0.49 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Aaron Industries Ltd?

Aaron Industries Ltd is trading at ₹123.00 as of 15 April 2026, with a FY2026-2027 high of ₹258 and low of ₹107. The stock is currently near its 52-week low. Market cap stands at ₹257 Cr..

How does Aaron Industries Ltd's P/E ratio compare to its industry?

Aaron Industries Ltd has a P/E ratio of 35.6, which is below the industry average of 61.18. This is broadly in line with or below the industry average.

Is Aaron Industries Ltd financially healthy?

Key indicators for Aaron Industries Ltd: ROCE of 18.6 % indicates efficient capital utilization; ROE of 21.0 % shows strong shareholder returns. Dividend yield is 0.49 %.

Is Aaron Industries Ltd profitable and how is the profit trend?

Aaron Industries Ltd reported a net profit of ₹8 Cr in Mar 2025 on revenue of ₹78 Cr. Compared to ₹4 Cr in Mar 2022, the net profit shows an improving trend.

Does Aaron Industries Ltd pay dividends?

Aaron Industries Ltd has a dividend yield of 0.49 % at the current price of ₹123.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Aaron Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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