Arfin India Ltd.
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ABOUT
AI Sector View
AI GENERATEDMetals & Mining
The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.
PROS
- Latest quarter profit grew 277.0% YoY, showing strong momentum
- Company generates healthy free cash flow
- Company converts assets efficiently - asset turnover of 2.0x
CONS
- Company has a low return on equity of 8.4% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.18x)
- Stock is trading at 7.2x its book value
- Though reporting repeated profits, the company pays out little dividend (12.0%)
- Rich enterprise valuation - EV/EBITDA of 28.7x
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| VAML | 421.60 | 0.00 | 164861.96 | 0.00 | 65970.00 | — | 213930.00 | — | 0.00 | 48.14 |
| NATIONALUM | 361.40 | 9.83 | 66375.87 | 3.18 | 2003.14 | 90.87 | 5302.38 | 39.28 | 39.71 | 51.08 |
| ARFIN | 85.66 | 78.36 | 1445.28 | 0.13 | 4.08 | 276.97 | 212.77 | 95.46 | 14.82 | 4.77 |
| MMP | 469.95 | 23.82 | 1193.80 | 0.43 | 13.70 | 353.19 | 232.60 | 26.89 | 10.57 | 10.17 |
| MAANALU | 110.45 | 867.26 | 662.53 | 0.00 | 3.10 | 13.55 | 231.86 | 9.79 | 10.76 | 2.32 |
| EUROBOND | 150.46 | 14.39 | 368.63 | 0.00 | 47.82 | 735.72 | 1198.13 | 1042.86 | 16.22 | 10.65 |
| MANAKALUCO | 36.95 | 27.36 | 242.15 | 0.14 | 2.85 | 82.76 | 139.59 | 3.85 | 10.52 | 9.60 |
| CENTEXT | 22.39 | 14.47 | 179.12 | 0.00 | 3.77 | 59.75 | 138.36 | 32.85 | 18.64 | 7.70 |
| HINDALUMI | 94.36 | 16.02 | 59.45 | 0.00 | 1.91 | -95.10 | 5.36 | 405.66 | -1.23 | 44.40 |
| GALPOWTEL | 22.97 | 0.00 | 20.36 | 0.00 | -1.44 | -111.76 | 0.00 | — | 5.41 | — |
| SORICH | — | — | — | — | — | — | — | — | 16.21 | — |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 137 | 133 | 149 | 180 | 153 | 109 | 128 | 188 | 193 | 213 | |
| 129 | 124 | 139 | 169 | 147 | 102 | 119 | 174 | 177 | 208 | |
| Operating Profit | 8 | 9 | 10 | 11 | 7 | 7 | 9 | 14 | 16 | 4 |
| OPM % | 6.05% | 6.84% | 6.49% | 6.07% | 4.30% | 6.06% | 7.31% | 7.39% | 8.45% | 2.09% |
| 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | -0 | 0 | |
| Interest | 5 | 4 | 5 | 6 | 5 | 5 | 5 | 5 | 4 | 5 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 2 | 4 | 4 | 4 | 2 | 1 | 4 | 8 | 11 | 5 |
| Tax % | -7.39% | 25.86% | 27.32% | 32.67% | 76.65% | 25.00% | 33.15% | 34.41% | 37.03% | 12.18% |
| Net Profit | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 5 | 7 | 4 |
| 0.14 | 0.18 | 0.15 | 0.18 | 0.03 | 0.06 | 0.15 | 0.30 | 0.40 | 0.24 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|
| 535 | 616 | 618 | 722 | |
| 505 | 579 | 572 | 678 | |
| Operating Profit | 30 | 36 | 46 | 44 |
| OPM % | 5.64% | 5.90% | 7.47% | 6.10% |
| 2 | 2 | 1 | 1 | |
| Interest | 19 | 20 | 19 | 19 |
| Depreciation | 4 | 4 | 5 | 5 |
| Profit before Tax | 10 | 14 | 24 | 27 |
| Tax % | 15.41% | 36.39% | 34.82% | 31.46% |
| Net Profit | 8 | 9 | 15 | 18 |
| EPS | 0.52 | 0.54 | 0.92 | — |
| Dividend Payout % | 0.00% | 0.00% | 12.01% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 101%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 8%
- Last Year:
- 9%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Equity Capital | 16 | 17 | 17 |
| 80 | 140 | 153 | |
| 110 | 105 | 122 | |
| Trade Payables | 66 | 63 | 59 |
| 13 | 19 | 21 | |
| Total Liabilities | 285 | 344 | 371 |
| 66 | 64 | 74 | |
| Capital Work in Progress | 0 | 4 | 0 |
| 149 | 182 | 223 | |
| 53 | 52 | 30 | |
| Cash & Bank | 2 | 6 | 9 |
| 15 | 36 | 35 | |
| Total Assets | 285 | 344 | 371 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| 5 | -21 | 22 | |
| Cash from Investing | -4 | -8 | -15 |
| Cash from Financing | -8 | 30 | -8 |
| -7 | 0 | -0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-31 - Arfin India Limited has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2026-08-27 - Mahendrakumar Rikhavchand Shah has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2026-08-25 - Arfin India Limited has informed the Exchange about Copy of Newspaper Publication regarding Notice of 34th Annual general Meeting of the company
2026-08-25 - Arfin India Limited has informed the Exchange about Intimation Of Dispatch Of Physical Letter To Shareholders Whose Email Id Are Not Registered With Company/Depository
2026-08-24 - Arfin India Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 19, 2026
2026-08-20 - Arfin India Limited has informed the Exchange about Copy of Newspaper Publication regarding 34th AGM of the company
2026-08-19 - Arfin India Limited has informed the Exchange about Intimation of 34th Annual General Meeting ("AGM") of the Company for Financial Year 2025-26
2026-08-12 - Arfin India Limited has informed the Exchange about Copy of Newspaper Publication of the Unaudited Financial Result for the quarter ended June 30, 2026
2026-08-11 - Arfin India Limited has submitted to the Exchange, the Unaudited financial results for the period ended Jun 30, 2026.
News
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