Aaron Industries Ltd.

AARONNSECapital GoodsEngineering - Industrial EquipmentsSmall Cap

₹122.37

▼ 1.07%

Composite

Currently, the company is providing all Elevator product and parts under one roof. It includes Elevator cabins, doors, frame, Header, Traction Machine and etc. From designing ultra-modern, up-to-the-mark cabins for luxurious properties-residential as well as commercials, it gives its customers as artistic edge that enhances their property and provide customer satisfaction. The company is also engaged in manufacturing of various electronic equipment like Distribution boxes, Busbar chambers, Loom switch, cable tray, building hardware material such as Z perline and slotted channel.

www.aaronindustries.netSector: Capital GoodsIndustry: Engineering - Industrial Equipments

Q-DITS fundamental score

54Composite

Growth

Profitability

Valuation

Quality

Solvency

Earnings

Key metrics

MCap

₹256 Cr

TTM PE

37.7x

Industry PE

57.8x

TTM EPS

₹3.25

Book Value

₹23.21

Face Value

₹10

Div Yield

0.41%

PEG

4.74x

ROE

20.9%

ROCE

18.6%

EBITDA mgn

19.3%

D/E

0.74

Int. Cover

9.7x

Curr. Ratio

1.25x

EPS

₹3.94

Growth — CAGR across horizons

Metric	1Y	3Y	5Y	10Y
Net Sales	18.1%	18.1%	29.8%	—
EBITDA	19.4%	22.9%	38.5%	—
Net Profit	-17.5%	8%	28.7%	—

Score snapshot

Piotroski

5/9

Altman Z

1.86

Quality

66.8

Growth

62.3

Valuation

Earn. Qual

54.3

PEAD

-2

SURGE

-1

Revenue, profitability & returns

Revenue & Net Profit (₹ Cr)

RevenueNet Profit

Margins (%)

EBITDA%PAT%

Return ratios (%)

ROEROCEROA

Annual financials — last 10 years

Tap any row to see its trend

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	Trend
›RevenueCr	3	5	12	18	21	25	38	56	63	78	↑
›EBITDACr	0	0	2	2	3	4	6	10	11	15	↑
›EBITDA margin	4.3%	5.3%	13.4%	11.8%	14.5%	14.7%	17%	17.3%	17.8%	19.3%	↑
›Net profitCr	0	0	1	1	1	2	4	5	6	8	↑
›PAT margin	1%	1.1%	7.9%	6%	6.3%	7.7%	9.8%	9.7%	10%	10.6%	↑
›EPS₹	₹0.15	₹0.23	₹0.63	₹0.53	₹0.67	₹0.96	₹1.85	₹2.69	₹3.02	₹3.94	↑
›Revenue growth	37.2%	47.3%	145.5%	49.2%	21.9%	16.7%	51.2%	48%	13.2%	23.3%	↑
›PAT growth	-3.8%	52.9%	1,723.2%	13.8%	26.9%	43.4%	92.5%	45.7%	17.1%	30.2%	↑
›ROE	22.7%	19.2%	48.6%	16.4%	13.5%	16.9%	26.4%	29.7%	22.5%	20.9%	↓
›ROCE	14.6%	16.3%	47.6%	19.3%	16.8%	17.4%	25.1%	29.9%	19.8%	18.6%	↓
›ROA	2%	2.1%	19.6%	8.7%	7.3%	9.3%	14.1%	15.2%	10.8%	10.2%	↓
›P/E	0x	0x	0x	10.3x	8.4x	29.8x	30.7x	34.1x	21.6x	20.8x	↓
›P/B	0x	0x	0x	2.4x	2x	4.7x	7.2x	9x	7.6x	8x	↑
›D/E	4.8	4.6	0.3	0.6	0.5	0.6	0.6	0.6	0.9	0.7	↓
›Current ratio	2.2x	2x	1.9x	1.9x	1.7x	1.7x	1.8x	1.6x	1.4x	1.2x	↓
›Interest cover	1.6x	1.4x	10.4x	6.5x	4.3x	5.2x	7.9x	8x	7.3x	9.7x	↑

Quarterly results

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Metric	2023-12	2024-03	2024-06	2024-09	2024-12	2025-03	2025-06	2025-09	2025-12	2026-03	Trend
›RevenueCr	15	19	17	18	18	24	19	22	23	27	↑
›Rev growth YoY	6.9%	18.8%	10.8%	30.6%	25.4%	26.4%	11.9%	21.6%	26.5%	13.3%	↓
›EBITDACr	3	4	3	3	3	5	4	4	5	5	↑
›EBITDA margin	17.3%	19%	19.2%	17.6%	17.8%	20.9%	19%	18.5%	20.8%	18.6%	↓
›Net profitCr	1	2	2	2	2	3	1	1	2	2	↑
›PAT growth YoY	-2.9%	40.4%	16.2%	52.1%	49.8%	18.4%	-43.4%	-23.4%	12.4%	-15.7%	↓
›EPS₹	₹1.15	₹2.22	₹1.78	₹1.74	₹1.72	₹2.63	₹1.01	₹0.67	₹0.96	₹1.11	↑

Balance sheet — last 10 years (₹ Cr)

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Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	Trend
›Shareholders' equityCr	0	4	9	11	12	16	20	36	43	49	↑
›ReservesCr	0	2	5	5	2	6	10	25	33	28	↓
›Total borrowingsCr	0	0	0	0	0	0	0	0	0	0	—
›InvestmentsCr	0	0	0	0	0	0	0	0	0	0	↓
›Total assetsCr	1	4	13	13	16	22	26	58	61	91	↑
›Current assetsCr	2	5	8	9	8	15	21	25	28	36	↑
›Current liabilitiesCr	1	3	4	5	5	8	13	18	22	26	↑
›Trade payablesCr	1	2	2	2	1	2	4	3	3	8	↑
›Gross blockCr	0	2	9	10	14	17	22	29	31	55	↑

Cash flow statement (₹ Cr)

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Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	Trend
›Operating CF (CFO)Cr	-0	-0	-0	1	3	1	4	6	9	8	↓
›Investing CF (CFI)Cr	0	-2	-8	-1	-4	-3	-5	-33	-8	-2	↑
›Financing CF (CFF)Cr	0	2	8	-1	1	2	1	28	-1	-6	↓
›Net cash changeCr	0	-0	0	-1	-0	0	0	0	0	-0	↓
›Closing cashCr	0	0	0	-1	0	0	0	0	0	0	↓

Cash flow components

CFO · CFI · CFF (₹ Cr)

CFOCFICFF

Q-DITS scorecard

Composite score

Quality (25%)66.8

Growth (25%)62.3

Valuation (20%)35

Piotroski (15%)56

Earnings Quality (10%)54.3

Momentum (5%)—

Weighted blend, rescaled to the components available for this stock.

Piotroski F-Score

5/9

✓ROA positiveROA 10.19%

✓CFO positiveCFO ₹7.67 Cr

✗ROA improving10.83% → 10.19%

✗CFO > PAT (low accruals)CFO 7.67 vs PAT 8.24

✓Leverage decreasedD/E 0.88 → 0.74

✗Liquidity improvedCR 1.42 → 1.25

✓No share dilutionEPS 3.02 → 3.94

✓Margin improvedEBITDA mgn 17.82% → 19.29%

✗Asset turnover upAsset TO 1.08 → 0.96

Altman Z-Scoregrey

1.86

0.106

0.303

0.145

0.533

0.855

>2.9 safe · 1.23–2.9 grey · <1.23 distress

Quality

66.8/100

ROE

20.9%

ROCE

18.6%

Margin

10.6%

Debt

0.7

Int. cover

9.7x

Growth

62.3/100

Revenue 3Y

18.1%

Profit 3Y

EPS

30.2%

Valuation

35/100

20.8x

EV/EBITDA

13.3x

vs universe median: PE 23.47x · PB 2.95x · EV 14.02x

Earnings quality

54.3/100

CFO₹8 Cr

PAT₹8 Cr

Accrual ratio0.006

CFO/PAT0.93x

PEAD · SURGE

-2 / -1

Revenue SUE-0.84

EPS SUE-0.71

Latest quarter2026-03

Rev growth YoY13.3%

Shareholding pattern

Promoter73.1%

FII/FPI0%

DII0%

Public26.9%

Tap any row to see its trend

Metric	2024-03	2024-06	2024-09	2024-12	2025-03	2025-06	2025-09	2025-12	2026-03	Trend
›Promoter	73.1%	73.1%	73.1%	73.1%	73.1%	73.1%	73.1%	73.1%	73.1%	↑
›FII / FPI	0%	0%	0%	0%	0%	0%	0%	0%	0%	—
›DII	0%	0%	0.5%	0.5%	0.5%	0.4%	0%	0%	0%	—
›Public / Retail	26.9%	26.9%	26.9%	26.9%	26.9%	26.9%	26.9%	26.9%	26.9%	↓
›Promoter pledge	0%	0%	0%	0%	0%	0%	0%	0%	0%	—

Documents & filings

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Peer comparison

Company	MCap (Cr)	Revenue	PAT	PE	PB	ROE%	ROCE%	D/E
Bharat Heavy Electricals Ltd.	1,44,088	33,782	1,539	90x	5.5x	2.2	4.9	0.36
Thermax Ltd.	56,084	10,687	721	77.8x	10.1x	13.4	16.2	0.34
Kirloskar Oil Engines Ltd.	28,965	7,701	558	50.4x	8x	16.6	14.6	1.88
Triveni Turbine Ltd.	21,350	2,181	351	61.1x	14.8x	33	45.4	0
Inox India Ltd.	17,405	1,587	258	67.5x	15.7x	26.1	33.5	0.06
Jyoti CNC Automation Ltd.	16,828	2,093	336	50.1x	8.4x	20.7	23.9	0.29
Azad Engineering Ltd.	13,532	603	134	101.8x	8.9x	8.5	12.3	0.17