Aro Granite Industries Ltd.
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ABOUT
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 generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- Company has a low return on equity of -3.1% over last 3 years
- Company has a low return on capital employed of 2.6%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -5.01x)
- Interest coverage is weak at 0.2x - earnings barely cover interest
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| KAJARIACER | 1225.80 | 35.29 | 19262.60 | 1.14 | 171.03 | 55.04 | 1328.08 | 20.43 | 23.07 | 19.69 |
| CERA | 5571.05 | 29.21 | 7185.28 | 1.35 | 47.05 | -0.86 | 422.19 | 5.36 | 19.41 | 13.05 |
| MIDWESTLTD | 1015.80 | 33.08 | 3673.22 | 0.00 | 310.39 | 1173.13 | 1918.39 | 1248.46 | 27.81 | 25.47 |
| POKARNA | 807.75 | 26.39 | 2504.35 | 0.07 | 42.60 | 50.56 | 189.42 | 10.79 | 11.85 | 35.89 |
| NITCO | 93.59 | 0.00 | 2363.86 | 0.00 | -10.33 | -121.77 | 116.02 | -22.48 | 6.58 | -7.07 |
| SOMANYCERA | 564.05 | 21.75 | 2313.33 | 1.06 | 34.23 | 365.71 | 749.56 | 24.62 | 14.43 | 11.50 |
| ASIANTILES | 50.40 | 118.57 | 1494.24 | 0.00 | 8.07 | 11.48 | 530.95 | 36.76 | 2.97 | 6.19 |
| ORIENTBELL | 401.90 | 28.00 | 591.41 | 0.25 | 8.32 | 2318.40 | 203.82 | 43.44 | 5.56 | 8.02 |
| EXXARO | 6.36 | 69.49 | 284.55 | 0.00 | 2.07 | 156.24 | 85.22 | 31.25 | 3.69 | 8.18 |
| MURUDCERA | 29.76 | 18.61 | 180.18 | 0.00 | 0.81 | -58.06 | 50.09 | 8.54 | 5.23 | 19.10 |
| GSLSU | 28.45 | 13.18 | 120.58 | 0.00 | 0.06 | 111.19 | 65.42 | -12.19 | -2.15 | 12.74 |
| AROGRANITE | 23.81 | 0.00 | 36.43 | 0.00 | -7.46 | -12525.00 | 20.62 | -23.73 | 1.04 | -12.93 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 51 | 37 | 33 | 33 | 38 | 29 | 30 | 27 | 27 | 20 | 15 | 12 | 21 | |
| 43 | 32 | 27 | 25 | 32 | 29 | 30 | 26 | 21 | 20 | 16 | 14 | 29 | |
| Operating Profit | 8 | 6 | 7 | 8 | 5 | 0 | 0 | 1 | 6 | 0 | -2 | -3 | -8 |
| OPM % | 16.45% | 14.89% | 20.30% | 24.29% | 13.58% | 0.21% | 1.46% | 2.65% | 20.71% | 2.22% | -11.91% | -24.31% | -39.05% |
| 1 | 1 | 0 | 0 | 1 | -2 | 5 | 5 | 0 | 4 | 5 | 2 | 1 | |
| Interest | 4 | 4 | 4 | 5 | 4 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 3 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before Tax | 2 | 0 | 0 | 0 | 0 | -7 | 0 | 0 | 0 | -2 | -3 | -6 | -7 |
| Tax % | 41.07% | 11.36% | 77.14% | 5.26% | -406.67% | 3.61% | 102.70% | 77.78% | 40.00% | -3.32% | -1.71% | -0.31% | 0.21% |
| Net Profit | 1 | 0 | 0 | 0 | 1 | -7 | 0 | 0 | 0 | -2 | -3 | -6 | -7 |
| 0.89 | 0.28 | 0.05 | 0.22 | 0.54 | -4.66 | 0.02 | 0.03 | 0.00 | -1.66 | -1.92 | -4.21 | -4.83 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 239 | 201 | 172 | 178 | 179 | 225 | 164 | 155 | 123 | 74 | 67 | |
| 211 | 188 | 149 | 159 | 156 | 195 | 145 | 124 | 117 | 72 | 79 | |
| Operating Profit | 28 | 13 | 24 | 19 | 24 | 30 | 19 | 31 | 6 | 2 | -12 |
| OPM % | 11.61% | 6.24% | 13.79% | 10.42% | 13.27% | 13.39% | 11.63% | 19.90% | 5.12% | 2.04% | -18.11% |
| 3 | 1 | 2 | 3 | 1 | 1 | 1 | 0 | 10 | 12 | 12 | |
| Interest | 5 | 4 | 5 | 6 | 5 | 8 | 13 | 16 | 13 | 15 | 15 |
| Depreciation | 9 | 9 | 8 | 11 | 11 | 13 | 13 | 12 | 10 | 10 | 10 |
| Profit before Tax | 16 | 1 | 13 | 5 | 8 | 11 | -6 | 3 | -7 | -12 | -19 |
| Tax % | 22.95% | 8.76% | 22.46% | 30.29% | 24.19% | 17.35% | 2.01% | 61.38% | 6.26% | -1.70% | -0.70% |
| Net Profit | 13 | 1 | 10 | 4 | 6 | 9 | -6 | 1 | -6 | -12 | -19 |
| EPS | 0.00 | 0.00 | 0.00 | 2.14 | 4.02 | 5.89 | -3.84 | 0.86 | -4.20 | -7.72 | — |
| Dividend Payout % | 12.12% | 0.00% | 15.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -10%
- 5 Years:
- -16%
- 3 Years:
- -23%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- -10%
- 5 Years:
- -19%
- 3 Years:
- -23%
- 1 Year:
- -37%
RETURN ON EQUITY
- 10 Years:
- 1%
- 5 Years:
- -2%
- 3 Years:
- -3%
- Last Year:
- -7%
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 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| 154 | 155 | 165 | 166 | 172 | 181 | 175 | 177 | 171 | 159 | |
| 106 | 93 | 129 | 167 | 171 | 199 | 205 | 175 | 146 | 136 | |
| Trade Payables | 16 | 23 | 15 | 28 | 28 | 33 | 36 | 40 | 49 | 45 |
| 17 | 17 | 19 | 19 | 19 | 23 | 19 | 37 | 39 | 39 | |
| Total Liabilities | 308 | 304 | 343 | 395 | 405 | 451 | 450 | 445 | 420 | 394 |
| 91 | 90 | 90 | 139 | 174 | 163 | 160 | 149 | 139 | 128 | |
| Capital Work in Progress | 2 | 6 | 23 | 42 | 1 | 8 | 1 | 1 | 1 | 1 |
| 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |
| 112 | 108 | 118 | 129 | 139 | 177 | 199 | 213 | 214 | 213 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50 | 35 | 23 | |
| Cash & Bank | 11 | 11 | 14 | 11 | 10 | 10 | 6 | 9 | 8 | 13 |
| 92 | 88 | 98 | 74 | 80 | 93 | 83 | 22 | 21 | 17 | |
| Total Assets | 308 | 304 | 343 | 395 | 405 | 451 | 450 | 445 | 420 | 394 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 20 | 24 | -1 | 65 | 1 | -17 | 15 | 35 | 33 | 17 | |
| Cash from Investing | -8 | -8 | -26 | -78 | -4 | -6 | -3 | 0 | 0 | 3 |
| Cash from Financing | -15 | -11 | 32 | 12 | 3 | 24 | -15 | -32 | -34 | -16 |
| -7 | 3 | 2 | -3 | -1 | -0 | -4 | 3 | -0 | 4 |
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
2026-09-12 - Aro Granite Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 11, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-11 - Aro Granite Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 11, 2026
2026-09-07 - Aro Granite Industries Limited has informed the Exchange about General Updates
2026-09-07 - Aro Granite Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on September 07, 2026.
2026-08-11 - Aro Granite Industries Limited has informed the Exchange regarding 'Letter Sent to Shareholders for Annual Report Web-Link'.
2026-08-11 - Aro Granite Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-10 - Aro Granite Industries Limited has informed the Exchange regarding 'Cut-off Date and E-Voting'.
2026-08-10 - Aro Granite Industries Limited has informed the Exchange regarding 'Book Closure'.
2026-08-10 - Aro Granite Industries Limited has informed the Exchange regarding 'Notice of 38th Annual General Meeting'.
News
Recent coverage and analyst commentary for AROGRANITE
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Aro Granite Industries Ltd.
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