Aarvi Encon Ltd.
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ABOUT
AI Sector View
AI GENERATEDServices
Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.
PROS
- Latest quarter profit grew 114.1% YoY, showing strong momentum
- Company has delivered good sales growth of 24.6% CAGR over last 5 years
- Working capital cycle has improved - days down from 48 to 38
- Company has a consistent dividend-paying track record
- Company maintains a comfortable, low leverage position
CONS
- Company has a low return on capital employed of 11.4%
- Company has a low return on equity of 9.5% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.14x)
- Company has delivered a poor profit growth of 5.7% over past five years
- Effective tax rate is unusually low at 12.4% - earnings may be flattered
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| URBANCO | 171.55 | 0.00 | 26456.11 | 0.00 | -921.20 | -13373.78 | 5283.40 | 1338.56 | -8.23 | -18.44 |
| BLS | 236.40 | 13.79 | 9733.56 | 1.06 | 201.62 | 11.41 | 890.53 | 25.33 | 36.54 | 28.34 |
| SIS | 426.45 | 41.14 | 6027.71 | 1.64 | 101.66 | 9.37 | 4603.58 | 29.73 | 7.39 | 4.66 |
| QUESS | 354.55 | 20.97 | 5296.48 | 3.10 | 82.12 | 61.07 | 4181.68 | 14.52 | 24.72 | 2.02 |
| BLSE | 320.80 | 50.15 | 2914.68 | 0.31 | 18.63 | 6.30 | 304.09 | 24.63 | 18.67 | 6.98 |
| TEAMLEASE | 1282.60 | 13.24 | 1959.99 | 0.00 | 34.45 | 37.74 | 3034.69 | 4.96 | 16.22 | 1.05 |
| BLUSPRING | 130.50 | 100.21 | 1951.00 | 0.00 | -1.58 | 77.90 | 949.29 | 19.07 | 1.32 | 2.17 |
| KAPSTON | 564.30 | 56.31 | 1717.29 | 0.00 | 84.89 | 1284.83 | 2216.57 | 1062.33 | 13.16 | 6.56 |
| GCSL | 602.25 | 53.39 | 1455.00 | 0.12 | 128.00 | 1240.31 | 375.21 | 70.67 | 21.85 | 46.76 |
| UDS | 207.05 | 15.97 | 1386.27 | 0.00 | 30.28 | 4.47 | 764.29 | 9.15 | 9.99 | 5.54 |
| KRYSTAL | 634.15 | 14.44 | 886.03 | 0.24 | 17.41 | 5.92 | 360.71 | 11.65 | 16.36 | 6.33 |
| AARVI | 142.00 | 10.87 | 210.79 | 1.41 | 5.99 | 41.99 | 172.68 | 14.13 | 14.41 | 2.60 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 92 | 95 | 94 | 98 | 105 | 110 | 120 | 129 | 135 | 140 | 146 | 149 | 154 | |
| 88 | 92 | 91 | 95 | 102 | 109 | 118 | 126 | 131 | 136 | 143 | 145 | 151 | |
| Operating Profit | 3 | 3 | 2 | 2 | 3 | 2 | 2 | 4 | 3 | 3 | 3 | 5 | 3 |
| OPM % | 3.70% | 2.80% | 2.67% | 2.53% | 2.61% | 1.40% | 1.80% | 2.93% | 2.58% | 2.46% | 2.32% | 3.24% | 1.92% |
| 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | -0 | 1 | 3 | |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit before Tax | 3 | 2 | 3 | 3 | 2 | 1 | 2 | 3 | 3 | 3 | 2 | 5 | 6 |
| Tax % | 11.67% | 9.50% | 0.36% | 3.51% | 10.08% | -13.60% | 25.27% | 10.76% | 4.86% | 3.11% | -9.91% | 32.99% | 3.85% |
| Net Profit | 3 | 2 | 3 | 3 | 2 | 1 | 1 | 3 | 3 | 3 | 2 | 3 | 6 |
| 1.79 | 1.48 | 1.86 | 1.86 | 1.45 | 0.96 | 0.92 | 1.90 | 1.85 | 2.11 | 1.58 | 2.16 | 3.95 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 146 | 169 | 192 | 191 | 190 | 275 | 383 | 378 | 464 | 570 | 590 | |
| 139 | 160 | 183 | 185 | 182 | 261 | 366 | 366 | 453 | 555 | 575 | |
| Operating Profit | 8 | 9 | 9 | 6 | 8 | 13 | 17 | 11 | 11 | 15 | 15 |
| OPM % | 5.16% | 5.15% | 4.47% | 3.14% | 4.19% | 4.89% | 4.44% | 3.02% | 2.38% | 2.70% | 2.48% |
| 0 | 1 | 1 | 1 | 2 | 1 | 2 | 3 | 3 | 3 | 5 | |
| Interest | 2 | 1 | 1 | 2 | 1 | 1 | 2 | 2 | 4 | 3 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Profit before Tax | 5 | 8 | 7 | 4 | 9 | 12 | 15 | 11 | 9 | 13 | 16 |
| Tax % | 33.45% | 23.54% | 20.53% | -6.32% | -1.70% | 0.67% | 7.72% | 6.20% | 10.18% | 12.35% | 10.51% |
| Net Profit | 4 | 6 | 6 | 4 | 9 | 12 | 14 | 10 | 8 | 11 | 15 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 5.85 | 8.33 | 9.52 | 7.00 | 5.22 | 7.70 | — |
| Dividend Payout % | 8.83% | 12.00% | 25.11% | 39.05% | 25.62% | 24.02% | 20.95% | 28.58% | 38.30% | 25.98% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 18%
- 5 Years:
- 25%
- 3 Years:
- 14%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 19%
- 5 Years:
- 6%
- 3 Years:
- -7%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 20%
- 3 Years:
- 4%
- 1 Year:
- 15%
RETURN ON EQUITY
- 10 Years:
- 11%
- 5 Years:
- 12%
- 3 Years:
- 9%
- Last Year:
- 10%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| 30 | 44 | 48 | 50 | 58 | 67 | 79 | 86 | 91 | 99 | |
| 14 | 4 | 10 | 10 | 5 | 8 | 4 | 11 | 30 | 32 | |
| Trade Payables | 13 | 9 | 3 | 5 | 4 | 6 | 6 | 5 | 9 | 7 |
| 21 | 27 | 21 | 22 | 25 | 36 | 36 | 35 | 45 | 52 | |
| Total Liabilities | 80 | 98 | 98 | 101 | 106 | 131 | 140 | 152 | 189 | 206 |
| 7 | 6 | 12 | 11 | 10 | 10 | 10 | 9 | 17 | 17 | |
| 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 6 | 6 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 72 | 96 | 81 | |
| Cash & Bank | 6 | 7 | 4 | 2 | 13 | 3 | 2 | 13 | 6 | 4 |
| 67 | 85 | 81 | 88 | 82 | 118 | 127 | 57 | 64 | 98 | |
| Total Assets | 80 | 98 | 98 | 101 | 106 | 131 | 140 | 152 | 189 | 206 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 4 | -6 | 11 | 1 | -2 | -1 | 12 | -3 | 4 | 3 | |
| Cash from Investing | -0 | -0 | -5 | 0 | 2 | 0 | -0 | 1 | -12 | 1 |
| Cash from Financing | 4 | 8 | 1 | -2 | -7 | -1 | -7 | 2 | 11 | -6 |
| 5 | -1 | -3 | -3 | 9 | -8 | -1 | 0 | 3 | -2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-01 - Aarvi Encon Limited has informed the Exchange about Bagging/Receiving of orders/contracts
2026-08-20 - Aarvi Encon Limited has informed the Exchange about Resignation of Director/KMP/SMP
2026-08-20 - Aarvi Encon Limited has informed the Exchange regarding Demise of Mr. Reyaz Khan, General Manager Kolkata Branch, who was part of the Senior Management Personnel of the Company on August 20, 2026.
2026-08-20 - Aarvi Encon Limited has informed the Exchange about Bagging/Receiving of orders/contracts
2026-08-17 - Aarvi Encon Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 14, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-17 - Aarvi Encon Limited has informed the Exchange regarding 'Transcript of 38th Annual General Meeting '.
2026-08-14 - Aarvi Encon Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 14, 2026
2026-08-14 - Aarvi Encon Limited has informed the Exchange about Financial Results as on June 30, 2026 in a Machine Readable Form.
2026-08-14 - Aarvi Encon Limited has informed the Exchange about Investor Presentation
News
Recent coverage and analyst commentary for AARVI
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