Airo Lam Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Laminates & Allied Products: 86.8% • Plywood & Allied Products: 13.2%
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 15.0% CAGR over last 5 years
CONS
- A large part of profit comes from other income (59.7% of PBT)
- Recent results are weak - TTM profit is down 32.3% versus prior year
- Company has a low return on capital employed of 10.5%
- Company has a low return on equity of 9.2% over last 3 years
- Interest coverage is weak at 1.6x - earnings barely cover interest
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.45x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| GREENLAM | 233.55 | 64.12 | 5958.97 | 0.17 | 21.24 | 235.20 | 796.70 | 18.24 | 8.38 | 10.02 |
| STYLAMIND | 3334.20 | 33.29 | 5650.82 | 0.00 | 48.16 | 70.35 | 326.47 | 15.37 | 27.05 | 21.09 |
| EUROPRATIK | 250.00 | 29.65 | 2555.00 | 0.08 | 20.05 | 115.65 | 103.33 | 60.13 | 53.39 | 25.79 |
| RUSHIL | 16.09 | 20.72 | 472.11 | 0.31 | 1.98 | 114.09 | 229.00 | 27.82 | 10.20 | 7.95 |
| WIPL | 169.58 | 66.02 | 143.93 | 0.59 | -0.30 | -188.24 | 26.49 | -8.69 | 4.19 | -0.23 |
| AIROLAM | 84.25 | 22.93 | 126.39 | 0.00 | 0.25 | -91.05 | 57.93 | 3.14 | 7.36 | 5.66 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 52 | 49 | 50 | 57 | 51 | 52 | 52 | 54 | 56 | 54 | 62 | 70 | 58 | |
| 47 | 43 | 46 | 52 | 46 | 48 | 52 | 51 | 50 | 49 | 56 | 65 | 55 | |
| Operating Profit | 6 | 5 | 4 | 5 | 5 | 4 | -0 | 3 | 6 | 5 | 6 | 5 | 3 |
| OPM % | 10.63% | 11.12% | 8.13% | 8.90% | 9.23% | 8.61% | -0.62% | 6.30% | 10.66% | 8.87% | 9.88% | 7.47% | 5.66% |
| -0 | 0 | 1 | 0 | 1 | 2 | -0 | 0 | 1 | 0 | -0 | 0 | 1 | |
| Interest | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 3 | 4 | 3 | 3 | 2 | 3 | -4 | 1 | 3 | 2 | 3 | 2 | 1 |
| Tax % | 19.87% | 27.62% | 35.41% | 37.54% | 29.83% | 33.33% | 10.71% | 20.29% | 17.99% | 32.04% | 13.45% | 25.27% | 60.32% |
| Net Profit | 0 | 0 | 0 | 0 | 0 | 2 | -3 | 1 | 3 | 1 | 2 | 1 | 0 |
| 1.64 | 1.76 | 1.17 | 1.25 | 1.11 | 1.38 | -2.16 | 0.73 | 1.85 | 0.82 | 1.58 | 0.93 | 0.17 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 106 | 133 | 169 | 199 | 206 | 214 | 243 | |
| 98 | 122 | 154 | 183 | 187 | 201 | 224 | |
| Operating Profit | 9 | 12 | 15 | 17 | 19 | 14 | 19 |
| OPM % | 8.25% | 8.69% | 8.70% | 8.32% | 9.32% | 6.33% | 7.96% |
| 1 | 1 | 1 | 1 | 1 | 3 | 1 | |
| Interest | 2 | 2 | 3 | 4 | 5 | 7 | 9 |
| Depreciation | 2 | 2 | 3 | 3 | 4 | 5 | 5 |
| Profit before Tax | 6 | 8 | 9 | 10 | 12 | 4 | 7 |
| Tax % | 24.83% | 29.32% | 28.97% | 24.32% | 32.33% | 36.33% | 25.53% |
| Net Profit | 5 | 5 | 6 | 7 | 8 | 3 | 5 |
| EPS | 3.18 | 3.64 | 4.32 | 4.93 | 5.23 | 1.80 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 15%
- 3 Years:
- 8%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- -11%
- 3 Years:
- -25%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 11%
- 3 Years:
- -8%
- 1 Year:
- -22%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 10%
- 3 Years:
- 9%
- Last Year:
- 4%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 15 |
| Minority Interest | 0 | 0 | 0 | 0 | -1 | -1 |
| 29 | 35 | 41 | 49 | 55 | 58 | |
| 35 | 38 | 49 | 58 | 75 | 86 | |
| Trade Payables | 22 | 33 | 39 | 27 | 28 | 35 |
| 6 | 10 | 15 | 13 | 19 | 24 | |
| Total Liabilities | 107 | 130 | 159 | 162 | 192 | 216 |
| 11 | 38 | 37 | 36 | 45 | 58 | |
| Capital Work in Progress | 15 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 1 | 0 | 0 | |
| 35 | 41 | 59 | 63 | 76 | 85 | |
| 0 | 0 | 0 | 0 | 55 | 58 | |
| Cash & Bank | 1 | 5 | 5 | 3 | 2 | 2 |
| 46 | 47 | 58 | 60 | 14 | 13 | |
| Total Assets | 107 | 130 | 159 | 162 | 192 | 216 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 6 | 22 | -4 | -4 | -1 | 14 | |
| Cash from Investing | -14 | -14 | -4 | -3 | -13 | -18 |
| Cash from Financing | 9 | -2 | 9 | 8 | 11 | 4 |
| -1 | 4 | -1 | -0 | -2 | -0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-03 - Airo Lam limited has informed the Exchange about Copy of Newspaper Publication
2026-09-02 - Airo Lam limited has informed the Exchange about General Updates
2026-09-02 - Airo Lam limited has informed the Exchange about Shareholders meeting
2026-09-02 - Airo Lam limited has informed the Exchange about General Updates
2026-08-15 - Airo Lam limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - Airo Lam limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-12 - Airo Lam limited has informed the Exchange about General Updates
2026-07-23 - The Exchange had sought clarification from Airo Lam limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.
2026-07-21 - Airo Lam limited has informed regarding Disclosure of material issue
News
Recent coverage and analyst commentary for AIROLAM
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Airo Lam Ltd.
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