Aplab Ltd.

•

aplab.comBSE: -NSE: APLAB

Market Cap₹ 188 Cr.

Current Price

High / Low₹ 31 / 31

Stock P/E0.0

Book Value₹ 11

Price to Book4.61

Dividend Yield0.00 %

ROCE14.9 %

ROE16.6 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 4.36x)
Stock looks reasonably valued - P/E of 36.7 is below its historical median
Company generates healthy free cash flow

CONS

A large part of profit comes from other income (98.1% of PBT)
Promoter holding has decreased over last 2 years: -19.5pp
Company has a low return on capital employed of 6.4%
Company has a low return on equity of 6.5% over last 3 years
Working capital days have increased from 4 to 50 days
Equity base is being diluted - shares outstanding up 57.1%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsElectric Equipment

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ABB	7269.10	51.56	154038.32	0.54	3623.00	930.02	35588.70	1110.31	30.18	12.56
2.	CGPOWER	910.00	114.69	143365.96	0.14	308.28	15.52	3280.81	13.99	27.94	12.11
3.	SIEMENS	3960.90	43.07	141055.77	0.45	214.31	-49.38	4713.70	8.44	21.42	9.14
4.	POWERINDIA	31415.40	121.72	140025.86	0.03	294.15	123.52	2493.69	74.46	28.73	14.58
5.	GVT&D	4545.00	623.18	116373.15	0.22	3629.90	1146.53	18361.40	1280.42	75.51	25.10
6.	ENRIN	3178.75	76.08	113201.81	0.13	4409.00	1578.34	24856.00	1292.81	40.19	23.56
7.	WAAREEENER	2627.50	19.80	75580.39	0.15	891.87	15.39	7931.79	79.22	37.92	18.15
8.	APARINDS	17496.15	62.01	73260.47	0.34	4674.50	1677.98	65910.60	1191.31	31.84	11.50
9.	HAVELLS	1114.80	42.84	69960.57	0.90	289.71	-16.64	6518.19	19.48	25.74	7.15
10.	SUZLON	44.16	19.31	60700.73	0.00	305.22	-5.89	3829.09	22.83	35.79	15.55
11.	SCHNEIDER	1227.70	159.75	29354.80	0.00	124.40	201.65	6513.60	947.83	31.01	5.23
12.	APLAB	74.73	0.00	187.87	0.00	-2.52	-396.00	9.61	-37.79	14.88	-26.65

Detailed Comparison with:

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
	9	11	12	18	10	14	16	24	15	17	11	14	10
	8	9	11	16	9	13	24	25	14	14	11	16	13
Operating Profit	1	2	1	2	1	1	-8	-1	2	3	0	-2	-3
OPM %	8.34%	14.15%	6.20%	9.77%	8.36%	4.18%	-50.25%	-5.85%	11.26%	17.69%	0.00%	-12.61%	-32.75%
	0	0	0	-0	0	2	0	3	0	0	1	2	0
Interest	1	1	0	1	1	1	1	1	1	1	0	1	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	0	0	0	0	0	2	-8	0	1	2	1	-1	-3
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.00%	-3252.38%	24.78%	22.60%	25.71%	16.28%	17.77%
Net Profit	0	0	0	0	0	2	-8	7	1	2	1	-1	-3
	0.04	-1.62	0.01	1.38	0.09	1.38	-6.69	6.03	0.68	1.04	0.42	-0.49	-1.60

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
	72	61	53	52	53	51	51	50	64	58	53
	75	65	56	47	48	44	46	45	72	55	54
Operating Profit	-3	-4	-2	5	5	7	6	5	-8	3	-2
OPM %	-3.93%	-6.55%	-4.66%	9.05%	9.93%	13.52%	10.90%	9.15%	-12.53%	5.15%	-3.59%
	2	0	18	3	1	-1	-1	0	5	3	3
Interest	11	11	8	7	7	5	4	4	3	2	2
Depreciation	2	1	1	1	0	0	0	0	0	0	1
Profit before Tax	-14	-16	7	0	-0	0	0	1	-7	3	-1
Tax %	-0.00%	-0.00%	18.76%	0.00%	-0.00%	0.00%	0.00%	0.00%	104.02%	26.06%	-7.08%
Net Profit	-14	-16	5	0	-0	0	0	1	0	3	-1
EPS	0.00	-27.70	0.00	0.52	-0.77	0.19	0.20	0.72	0.21	1.60	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: -2%
5 Years:: 2%
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 131%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 6%
1 Year:: 48%

RETURN ON EQUITY

10 Years:: 2%
5 Years:: 4%
3 Years:: 7%
Last Year:: 17%

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
	5	5	5	5	5	10	10	11	13	16
	-23	-38	-32	-31	-31	-31	-30	-4	-2	4
	66	70	70	71	72	48	50	26	30	19
Trade Payables	2	13	11	9	11	7	9	8	9	2
	77	64	58	49	43	42	46	39	15	11
Total Liabilities	127	114	113	103	99	76	85	81	65	52
	52	17	4	4	3	6	7	7	7	10
Capital Work in Progress	0	1	2	4	4	1	0	0	1	0
	12	14	13	16	15	15	25	29	18	19
	0	0	0	0	0	0	0	23	22	9
Cash & Bank	3	4	4	4	3	2	2	2	4	7
	60	79	89	76	74	51	51	19	13	7
Total Assets	127	114	113	103	99	76	85	81	65	52

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	-17	-5	-23	-1	19	-3	0	2	14
Cash from Investing	-0	-2	10	32	-0	-0	0	0	-1	-2
Cash from Financing	-7	20	-5	-8	0	-19	3	-0	1	-8
	-3	1	-0	-0	-1	-1	-0	0	2	3

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

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	63.28	63.28	67.60	67.60	67.60	43.83	43.83	43.83	43.83
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.01	0.01
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	36.70	36.70	32.38	32.38	32.38	56.16	56.16	56.16	56.16

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for APLAB

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AI Stock Analyst

Aplab Ltd.

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Free 5nance Account

Name

ABB

7269.10

51.56

154038.32

0.54

3623.00

930.02

35588.70

1110.31

30.18

12.56

CGPOWER

910.00

114.69

143365.96

0.14

308.28

15.52

3280.81

13.99

27.94

12.11

SIEMENS

3960.90

43.07

141055.77

0.45

214.31

-49.38

4713.70

8.44

21.42

9.14

POWERINDIA

31415.40

121.72

140025.86

0.03

294.15

123.52

2493.69

74.46

28.73

14.58

GVT&D

4545.00

623.18

116373.15

0.22

3629.90

1146.53

18361.40

1280.42

75.51

25.10

ENRIN

3178.75

76.08

113201.81

0.13

4409.00

1578.34

24856.00

1292.81

40.19

23.56

WAAREEENER

2627.50

19.80

75580.39

0.15

891.87

15.39

7931.79

79.22

37.92

18.15

APARINDS

17496.15

62.01

73260.47

0.34

4674.50

1677.98

65910.60

1191.31

31.84

11.50

HAVELLS

1114.80

42.84

69960.57

0.90

289.71

-16.64

6518.19

19.48

25.74

7.15

SUZLON

44.16

19.31

60700.73

0.00

305.22

-5.89

3829.09

22.83

35.79

15.55

SCHNEIDER

1227.70

159.75

29354.80

0.00

124.40

201.65

6513.60

947.83

31.01

5.23

APLAB

74.73

0.00

187.87

0.00

-2.52

-396.00

9.61

-37.79

14.88

-26.65

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

Operating Profit

-8

-1

-2

-3

OPM %

8.34%

14.15%

6.20%

9.77%

8.36%

4.18%

-50.25%

-5.85%

11.26%

17.69%

0.00%

-12.61%

-32.75%

-0

Interest

Depreciation

Profit before Tax

-8

-1

-3

Tax %

0.00%

-0.00%

-3252.38%

24.78%

22.60%

25.71%

16.28%

17.77%

Net Profit

-8

-1

-3

0.04

-1.62

0.01

1.38

0.09

1.38

-6.69

6.03

0.68

1.04

0.42

-0.49

-1.60

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

Operating Profit

-3

-4

-2

-8

-2

OPM %

-3.93%

-6.55%

-4.66%

9.05%

9.93%

13.52%

10.90%

9.15%

-12.53%

5.15%

-3.59%

-1

Interest

Depreciation

Profit before Tax

-14

-16

-0

-7

-1

Tax %

-0.00%

18.76%

0.00%

-0.00%

0.00%

104.02%

26.06%

-7.08%

Net Profit

-14

-16

-0

-1

EPS

0.00

-27.70

0.00

0.52

-0.77

0.19

0.20

0.72

0.21

1.60

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-23

-38

-32

-31

-30

-4

-2

Trade Payables

Total Liabilities

127

114

113

103

Capital Work in Progress

Cash & Bank

Total Assets

127

114

113

103

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-17

-5

-23

-1

-3

Cash from Investing

-0

-2

-0

-1

-2

Cash from Financing

-7

-5

-8

-19

-0

-8

-3

-0

-1

-0

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

63.28

67.60

43.83

FIIs

0.00

0.02

0.01

Government

0.00

36.70

32.38

56.16

Aplab Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Aplab Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI