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Last Updated: April 2, 2026, 2:34 am
Author: Getaka|Social: XLinkedIn

Airo Lam Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹30.55Overvalued by 63.72%vs CMP ₹84.20

P/E (14.7) × ROE (4.8%) × BV (₹53.40) × DY (2.00%)

₹55.41Overvalued by 34.19%vs CMP ₹84.20
MoS: -52% (Negative)Confidence: 54/100 (Moderate)Models: 1 Under, 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹32.0726%Over (-61.9%)
Graham NumberEarnings₹82.9018%Fair (-1.5%)
DCFCash Flow₹23.2415%Over (-72.4%)
Net Asset ValueAssets₹53.468%Over (-36.5%)
EV/EBITDAEnterprise₹43.4410%Over (-48.4%)
Earnings YieldEarnings₹57.208%Over (-32.1%)
ROCE CapitalReturns₹130.578%Under (+55.1%)
Revenue MultipleRevenue₹70.506%Over (-16.3%)
Consensus (8 models)₹55.41100%Overvalued
Key Drivers: ROE 4.8% is below cost of equity. | Wide model spread (₹23–₹131) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 5.0%

*Investments are subject to market risks

Investment Snapshot

58
Airo Lam Ltd scores 58/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health49/100 · Moderate
ROCE 7.8% WeakROE 4.8% WeakD/E 0.70 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 53.4% Stable
Earnings Quality50/100 · Moderate
OPM stable around 9% Steady
Quarterly Momentum90/100 · Strong
Revenue (4Q): +8% YoY GrowingProfit (4Q): +147% YoY StrongOPM: 10.3% (up 10.2% YoY) Margin expansion
Industry Rank50/100 · Moderate
P/E 14.7 vs industry 148.3 Cheaper than peersROCE 7.8% vs industry 11.7% AverageROE 4.8% vs industry 30.2% Below peers3Y sales CAGR: 8% Slow

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, 2:34 am

Market Cap 126 Cr.
Current Price 84.2
Intrinsic Value₹55.41
High / Low 137/82.0
Stock P/E14.7
Book Value 53.4
Dividend Yield0.00 %
ROCE7.78 %
ROE4.77 %
Face Value 10.0
PEG Ratio2.96

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

View Share Price Target for Airo Lam Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Airo Lam Ltd 126 Cr. 84.2 137/82.014.7 53.40.00 %7.78 %4.77 % 10.0
Archidply Industries Ltd 135 Cr. 68.1 121/60.012.6 62.80.00 %9.56 %6.74 % 10.0
Duroply Industries Ltd 144 Cr. 133 270/12119.9 1400.00 %7.23 %5.22 % 10.0
Ecoboard Industries Ltd 145 Cr. 62.9 66.2/24.2 3.810.00 %40.2 %239 % 10.0
Rushil Decor Ltd 432 Cr. 14.7 34.0/12.547.1 21.70.68 %10.1 %7.96 % 1.00
Industry Average2,998.67 Cr156.90148.3164.690.13%11.65%30.18%5.91

All Competitor Stocks of Airo Lam Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 45.8147.6652.2148.6449.6156.2750.6751.6751.1955.0256.5152.8862.53
Expenses 42.9943.8246.6743.2245.4451.0645.8147.0051.1451.4650.3947.8956.09
Operating Profit 2.823.845.545.424.175.214.864.670.053.566.124.996.44
OPM % 6.16%8.06%10.61%11.14%8.41%9.26%9.59%9.04%0.10%6.47%10.83%9.44%10.30%
Other Income 0.510.29-0.230.170.580.070.631.57-0.010.190.740.38-0.02
Interest 1.091.041.411.121.221.231.651.922.051.022.232.191.98
Depreciation 0.830.840.840.840.850.871.301.021.191.211.161.141.37
Profit before tax 1.412.253.063.632.683.182.543.30-3.201.523.472.043.07
Tax % 26.95%25.33%20.26%27.55%33.96%35.53%27.95%31.52%-12.19%18.42%17.58%28.43%12.05%
Net Profit 1.041.692.452.641.772.051.842.25-2.811.242.861.452.69
EPS in Rs 0.691.131.631.761.181.371.231.50-1.870.831.910.971.79

Last Updated: January 2, 2026, 2:03 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 2:18 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 6367637093111105133168198203211242
Expenses 586158648410197121153181184196219
Operating Profit 6667999121517201423
OPM % 9%9%9%9%10%8%8%9%9%8%10%7%10%
Other Income 0001011111121
Interest 2323322234579
Depreciation 2112222233455
Profit before tax 2223566891012511
Tax % 32%32%33%33%34%29%25%29%28%24%31%31%
Net Profit 1222345577849
EPS in Rs 2.692.913.043.442.172.823.193.644.494.935.532.365.72
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)100.00%0.00%0.00%50.00%33.33%25.00%0.00%40.00%0.00%14.29%-50.00%
Change in YoY Net Profit Growth (%)0.00%-100.00%0.00%50.00%-16.67%-8.33%-25.00%40.00%-40.00%14.29%-64.29%

Airo Lam Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:12%
5 Years:15%
3 Years:9%
TTM:4%
Compounded Profit Growth
10 Years:8%
5 Years:-6%
3 Years:-19%
TTM:-65%
Stock Price CAGR
10 Years:%
5 Years:36%
3 Years:14%
1 Year:-18%
Return on Equity
10 Years:11%
5 Years:10%
3 Years:9%
Last Year:5%

Last Updated: September 4, 2025, 10:30 pm

Balance Sheet

Last Updated: April 6, 2026, 2:30 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 6666151515151515151515
Reserves 681012202429354149576165
Borrowings 18232126202334385163798987
Other Liabilities 18202627323029425335395464
Total Liabilities 495663708792107130160162190219232
Fixed Assets 12121111111111383736455856
CWIP 00000115000000
Investments 0000000001111
Other Assets 3644516076808292122126145161175
Total Assets 495663708792107130160162190219232

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 2032-41420-69-017
Cash from Investing Activity + -3-1-0-1-4-2-14-14-4-5-13-20
Cash from Financing Activity + 12-4-1829-29-4113
Net Cash Flow -02-1-011-14-1-0-2-0
Free Cash Flow -1-121-6-2-116-97-13-0
CFO/OP 42%9%56%32%-30%31%63%192%-28%60%13%130%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-12.00-17.00-15.00-19.00-11.00-14.00-25.00-26.00-36.00-46.00-59.00-75.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 971271761911701231461141139199105
Inventory Days 138129154168168172181165194175210218
Days Payable 122123181175149115115132129647092
Cash Conversion Cycle 112133148183189180212146178202238231
Working Capital Days 10412662731081011137886768070
ROCE %16%15%13%13%15%14%11%12%13%12%12%8%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 52.49%52.73%53.01%53.01%53.02%53.02%53.03%49.46%53.14%53.14%53.14%53.41%
Public 47.51%47.27%46.99%46.99%46.98%46.98%46.97%50.54%46.86%46.86%46.86%46.59%
No. of Shareholders 4,1254,1613,8213,5504,6134,4244,3344,8294,6074,7634,6054,406

Shareholding Pattern Chart

No. of Shareholders

Airo Lam 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.) 1.805.234.934.373.64
Diluted EPS (Rs.) 1.805.234.934.373.64
Cash EPS (Rs.) 4.887.827.146.405.20
Book Value[Excl.RevalReserv]/Share (Rs.) 48.8746.5742.6737.4933.12
Book Value[Incl.RevalReserv]/Share (Rs.) 48.8746.5742.6737.4933.12
Revenue From Operations / Share (Rs.) 142.80137.56132.96112.5888.84
PBDIT / Share (Rs.) 10.7313.8011.5210.188.27
PBIT / Share (Rs.) 7.6511.219.318.156.70
PBT / Share (Rs.) 2.837.726.516.115.14
Net Profit / Share (Rs.) 1.805.234.934.373.64
NP After MI And SOA / Share (Rs.) 1.805.234.934.373.64
PBDIT Margin (%) 7.5110.028.669.049.30
PBIT Margin (%) 5.358.147.007.247.54
PBT Margin (%) 1.985.614.895.425.79
Net Profit Margin (%) 1.263.803.703.884.09
NP After MI And SOA Margin (%) 1.263.803.703.884.09
Return on Networth / Equity (%) 3.6811.1211.5511.6510.97
Return on Capital Employeed (%) 11.4618.6516.9014.8714.04
Return On Assets (%) 1.244.084.564.114.18
Long Term Debt / Equity (X) 0.270.200.210.390.38
Total Debt / Equity (X) 1.221.120.790.890.70
Asset Turnover Ratio (%) 1.051.171.241.171.12
Current Ratio (X) 1.351.431.571.571.56
Quick Ratio (X) 0.610.680.780.800.87
Inventory Turnover Ratio (X) 2.672.022.202.312.31
Interest Coverage Ratio (X) 2.233.964.124.985.30
Interest Coverage Ratio (Post Tax) (X) 1.372.502.763.143.33
Enterprise Value (Cr.) 220.68306.60144.00148.7870.60
EV / Net Operating Revenue (X) 1.031.490.720.880.52
EV / EBITDA (X) 13.7114.818.339.745.69
MarketCap / Net Operating Revenue (X) 0.621.120.490.600.30
Price / BV (X) 1.833.271.531.830.81
Price / Net Operating Revenue (X) 0.621.120.490.600.30
EarningsYield 0.020.030.070.060.13

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Airo Lam Ltd. is a Public Limited Listed company incorporated on 22/10/2007 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L20211GJ2007PLC052019 and registration number is 052019. Currently Company is involved in the business activities of Manufacture of ply wood and veneer sheets. Company's Total Operating Revenue is Rs. 214.39 Cr. and Equity Capital is Rs. 15.00 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
LaminatesSurvey No.355, Nananpur Road, Prantij Gujarat 383120Contact not found
Management
NamePosition Held
Mr. Pravinkumar Nathalal PatelChairman & Managing Director
Mr. Sureshkumar H PatelWhole Time Director
Mr. Hardikkumar P PatelNon Executive Director
Mrs. Mamta P PatelIndependent Director
Mr. Mehulkumar J PatelIndependent Director
Mr. Manibhai K PatelIndependent Director

FAQ

What is the intrinsic value of Airo Lam Ltd and is it undervalued?

As of 11 April 2026, Airo Lam Ltd's intrinsic value is ₹55.41, which is 34.19% lower than the current market price of ₹84.20, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (4.77 %), book value (₹53.4), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Airo Lam Ltd?

Airo Lam Ltd is trading at ₹84.20 as of 11 April 2026, with a FY2026-2027 high of ₹137 and low of ₹82.0. The stock is currently near its 52-week low. Market cap stands at ₹126 Cr..

How does Airo Lam Ltd's P/E ratio compare to its industry?

Airo Lam Ltd has a P/E ratio of 14.7, which is below the industry average of 148.31. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Airo Lam Ltd financially healthy?

Key indicators for Airo Lam Ltd: ROCE of 7.78 % is on the lower side compared to the industry average of 11.65%; ROE of 4.77 % is below ideal levels (industry average: 30.18%). Dividend yield is 0.00 %.

Is Airo Lam Ltd profitable and how is the profit trend?

Airo Lam Ltd reported a net profit of ₹4 Cr in Mar 2025 on revenue of ₹211 Cr. Compared to ₹7 Cr in Mar 2022, the net profit shows a declining trend.

Does Airo Lam Ltd pay dividends?

Airo Lam Ltd has a dividend yield of 0.00 % at the current price of ₹84.20. The company is currently not paying meaningful dividends.

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 Airo Lam 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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