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Last Updated: April 2, 2026, 4:07 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 539151 | NSE: ARFIN

Arfin India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹82.83Fairly Valued by 9.13%vs CMP ₹75.90

P/E (151.0) × ROE (7.2%) × BV (₹9.47) × DY (0.14%)

₹36.10Overvalued by 52.44%vs CMP ₹75.90
MoS: -110.2% (Negative)Confidence: 56/100 (Moderate)Models: 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹80.4029%Fair (+5.9%)
Graham NumberEarnings₹10.3221%Over (-86.4%)
Net Asset ValueAssets₹9.489%Over (-87.5%)
EV/EBITDAEnterprise₹19.6112%Over (-74.2%)
Earnings YieldEarnings₹5.009%Over (-93.4%)
ROCE CapitalReturns₹34.1812%Over (-55%)
Revenue MultipleRevenue₹36.507%Over (-51.9%)
Consensus (7 models)₹36.10100%Overvalued
Key Drivers: P/E of 151 makes PE-ROE unreliable — asset/earnings models are better benchmarks. | Wide model spread (₹5–₹80) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -2.9%

*Investments are subject to market risks

Investment Snapshot

50
Arfin India Ltd scores 50/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health52/100 · Moderate
ROCE 14.0% GoodROE 7.2% AverageD/E 1.24 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.27% (6mo) Slight increasePromoter holding at 69.8% Stable
Earnings Quality50/100 · Moderate
OPM stable around 6% Steady
Quarterly Momentum40/100 · Moderate
Revenue (4Q): -2% YoY FlatProfit (4Q): -21% YoY Declining
Industry Rank50/100 · Moderate
P/E 151.0 vs industry 61.1 Premium to peersROCE 14.0% vs industry 10.2% Above peers3Y sales CAGR: 5% 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, 4:07 am

Market Cap 1,281 Cr.
Current Price 75.9
Intrinsic Value₹36.10
High / Low 85.0/23.1
Stock P/E151
Book Value 9.47
Dividend Yield0.14 %
ROCE14.0 %
ROE7.23 %
Face Value 1.00
PEG Ratio-51.63

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

View Share Price Target for Arfin India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Arfin India Ltd 1,281 Cr. 75.9 85.0/23.1151 9.470.14 %14.0 %7.23 % 1.00
Manaksia Coated Metals & Industries Ltd 1,059 Cr. 100 183/82.426.2 31.70.05 %15.4 %8.11 % 1.00
Hind Aluminium Industries Ltd 56.6 Cr. 89.8 163/57.25.98 1410.00 %1.04 %10.7 % 10.0
Industry Average1,170.00 Cr88.5761.0660.720.06%10.15%8.68%4.00

All Competitor Stocks of Arfin India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 120.27151.89148.70134.22115.44136.80132.90149.11180.37153.37108.86128.04196.41
Expenses 113.74145.07141.12127.11108.19128.52123.81139.43169.43146.78102.26119.22182.86
Operating Profit 6.536.827.587.117.258.289.099.6810.946.596.608.8213.55
OPM % 5.43%4.49%5.10%5.30%6.28%6.05%6.84%6.49%6.07%4.30%6.06%6.89%6.90%
Other Income 0.221.450.610.710.470.200.250.240.141.330.460.490.14
Interest 3.474.344.344.224.665.364.285.365.564.624.545.095.15
Depreciation 0.890.880.930.960.931.091.001.011.021.021.081.091.14
Profit before tax 2.393.052.922.642.132.034.063.554.502.281.443.137.40
Tax % 0.42%15.08%20.89%34.09%7.04%-7.39%25.86%27.32%32.67%76.32%25.69%34.50%34.86%
Net Profit 2.382.592.321.741.992.183.012.583.030.541.082.054.82
EPS in Rs 0.150.160.150.110.130.140.180.150.180.030.060.120.29

Last Updated: February 3, 2026, 4:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 9:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 213250286363466413359303526544535616587
Expenses 207238271336421390364287502518505579551
Operating Profit 61215274523-6162426303636
OPM % 3%5%5%8%10%6%-2%5%5%5%6%6%6%
Other Income 0110102222222
Interest 2556101214111214192019
Depreciation 0111223334444
Profit before tax 4710203410-2151011101414
Tax % 34%34%34%36%36%34%5%12%6%6%15%36%
Net Profit 35713227-224910898
EPS in Rs 0.240.430.610.891.370.41-1.360.250.580.650.520.540.50
Dividend Payout % 0%6%7%6%12%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 (%)66.67%40.00%85.71%69.23%-68.18%-414.29%118.18%125.00%11.11%-20.00%12.50%
Change in YoY Net Profit Growth (%)0.00%-26.67%45.71%-16.48%-137.41%-346.10%532.47%6.82%-113.89%-31.11%32.50%

Arfin India 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:9%
5 Years:11%
3 Years:5%
TTM:14%
Compounded Profit Growth
10 Years:7%
5 Years:19%
3 Years:0%
TTM:-20%
Stock Price CAGR
10 Years:25%
5 Years:61%
3 Years:14%
1 Year:5%
Return on Equity
10 Years:9%
5 Years:9%
3 Years:9%
Last Year:7%

Last Updated: September 5, 2025, 2:21 pm

Balance Sheet

Last Updated: December 4, 2025, 2:24 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 3334131616161616161717
Reserves 1015215169704952627280140143
Borrowings 3434446295114109109112112120117149
Other Liabilities 28385144352425535867697158
Total Liabilities 7590119160213224199230247267285344367
Fixed Assets 9121421303846616265666470
CWIP 0240101713001040
Investments 0004455000001
Other Assets 6676101135168164135168185201220277295
Total Assets 7590119160213224199230247267285344367

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -126-2-22-1013231111295-21
Cash from Investing Activity + -1-5-4-7-20-17-60-3-8-4-9
Cash from Financing Activity + 121629304-18-12-8-14-830
Net Cash Flow -2200-0-00-007-70
Free Cash Flow -141-7-26-30-41868211-27
CFO/OP -194%55%-10%-64%-6%104%-427%67%46%107%24%-53%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-28.00-22.00-29.00-35.00-50.00-91.00-115.00-93.00-88.00-86.00-90.00-81.00

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 603442595944325151383631
Inventory Days 58759592791141211688489124130
Days Payable 586071462121237244495545
Cash Conversion Cycle 6148661051171381291479178105116
Working Capital Days 20417323730145238333966
ROCE %15%24%25%29%30%12%-4%8%12%13%14%14%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.11%74.11%74.11%74.09%74.09%69.79%69.79%69.79%69.79%69.79%69.79%69.77%
FIIs 0.00%0.00%0.95%2.56%2.56%2.41%2.41%2.41%2.41%2.41%2.64%2.68%
Government 0.04%0.08%0.08%0.08%0.08%0.07%0.07%0.19%0.19%0.04%0.04%0.04%
Public 25.86%25.80%24.86%23.27%23.26%27.73%27.73%27.60%27.61%27.75%27.53%27.53%
No. of Shareholders 5,2135,1555,4005,6336,2817,1127,9978,3929,3539,0819,86811,014

Shareholding Pattern Chart

No. of Shareholders

Arfin India 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 24
FaceValue 1.001.00
Basic EPS (Rs.) 0.540.52
Diluted EPS (Rs.) 0.540.52
Cash EPS (Rs.) 0.780.76
Book Value[Excl.RevalReserv]/Share (Rs.) 9.296.06
Book Value[Incl.RevalReserv]/Share (Rs.) 9.296.06
Revenue From Operations / Share (Rs.) 36.5033.67
PBDIT / Share (Rs.) 2.272.03
PBIT / Share (Rs.) 2.031.78
PBT / Share (Rs.) 0.850.61
Net Profit / Share (Rs.) 0.540.51
NP After MI And SOA / Share (Rs.) 0.540.51
PBDIT Margin (%) 6.216.01
PBIT Margin (%) 5.555.28
PBT Margin (%) 2.331.81
Net Profit Margin (%) 1.481.53
NP After MI And SOA Margin (%) 1.481.53
Return on Networth / Equity (%) 5.838.53
Return on Capital Employeed (%) 18.4422.40
Return On Assets (%) 2.652.88
Long Term Debt / Equity (X) 0.140.28
Total Debt / Equity (X) 0.741.24
Asset Turnover Ratio (%) 1.960.00
Current Ratio (X) 1.741.38
Quick Ratio (X) 0.580.44
Inventory Turnover Ratio (X) 3.720.00
Interest Coverage Ratio (X) 1.931.73
Interest Coverage Ratio (Post Tax) (X) 1.461.44
Enterprise Value (Cr.) 571.10930.67
EV / Net Operating Revenue (X) 0.921.74
EV / EBITDA (X) 14.9328.91
MarketCap / Net Operating Revenue (X) 0.741.52
Price / BV (X) 2.938.44
Price / Net Operating Revenue (X) 0.741.52
EarningsYield 0.010.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Arfin India Ltd. is a Public Limited Listed company incorporated on 10/04/1992 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L65990GJ1992PLC017460 and registration number is 017460. Currently Company is involved in the business activities of Manufacture of basic precious and other non-ferrous metals. Company's Total Operating Revenue is Rs. 615.75 Cr. and Equity Capital is Rs. 16.87 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Aluminium - Sheets/Coils/WiresPlot No.117, Ravi Industrial Estate, Gandhinagar Gujarat 382729Contact not found
Management
NamePosition Held
Mr. Mahendra R ShahChairman & Wholetime Director
Mr. Jatin M ShahManaging Director
Mrs. Pushpa M ShahExecutive Director
Mr. Mukesh Kumar ChowdharyIndependent Director
Mr. Tarachand R JainIndependent Director
Ms. Ruchita Rahulkumar NahataIndependent Director

FAQ

What is the intrinsic value of Arfin India Ltd and is it undervalued?

As of 09 April 2026, Arfin India Ltd's intrinsic value is ₹36.10, which is 52.44% lower than the current market price of ₹75.90, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (7.23 %), book value (₹9.47), dividend yield (0.14 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Arfin India Ltd?

Arfin India Ltd is trading at ₹75.90 as of 09 April 2026, with a FY2026-2027 high of ₹85.0 and low of ₹23.1. The stock is currently near its 52-week high. Market cap stands at ₹1,281 Cr..

How does Arfin India Ltd's P/E ratio compare to its industry?

Arfin India Ltd has a P/E ratio of 151, which is above the industry average of 61.06. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced relative to current earnings.

Is Arfin India Ltd financially healthy?

Key indicators for Arfin India Ltd: ROCE of 14.0 % is moderate; ROE of 7.23 % is below ideal levels (industry average: 8.68%). Dividend yield is 0.14 %.

Is Arfin India Ltd profitable and how is the profit trend?

Arfin India Ltd reported a net profit of ₹9 Cr in Mar 2025 on revenue of ₹616 Cr. Compared to ₹9 Cr in Mar 2022, the net profit shows a mixed trend.

Does Arfin India Ltd pay dividends?

Arfin India Ltd has a dividend yield of 0.14 % at the current price of ₹75.90. 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 Arfin India 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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