Avro India Ltd.
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ABOUT
AI Sector View
AI GENERATEDCapital Goods
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.
PROS
- Company has delivered good profit growth of 21.8% CAGR over last 5 years
- Company maintains a comfortable, low leverage position
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (114.6% of PBT)
- Receivables are growing faster than sales - a possible quality concern
- Promoter holding has decreased over last 2 years: -16.7pp
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.59x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SUPREMEIND | 3367.00 | 41.43 | 42769.95 | 1.07 | 280.72 | 38.76 | 2717.66 | 4.16 | 21.49 | 17.33 |
| ASTRAL | 1410.10 | 65.83 | 37882.36 | 0.28 | 120.20 | 51.77 | 1578.00 | 15.93 | 19.95 | 14.65 |
| GRWRHITECH | 6928.55 | 41.50 | 16096.68 | 0.17 | 132.65 | 59.78 | 633.08 | 27.90 | 18.08 | 27.17 |
| SHAILY | 3279.80 | 85.33 | 15085.52 | 0.09 | 48.01 | 16.75 | 280.67 | 13.77 | 29.46 | 29.59 |
| FINPIPE | 153.55 | 15.48 | 9527.42 | 1.79 | 114.52 | 16.67 | 883.58 | -15.30 | 12.73 | 12.09 |
| TIMETECHNO | 180.90 | 18.23 | 8929.86 | 0.83 | 1178.60 | 1120.71 | 16927.10 | 1151.40 | 17.37 | 13.25 |
| KINGFA | 6197.25 | 37.21 | 8398.13 | 0.00 | 80.21 | 101.58 | 688.57 | 49.06 | 30.70 | 16.12 |
| RESPONIND | 173.35 | 45.62 | 4621.66 | 0.06 | 2.74 | -94.51 | 192.87 | -43.06 | 10.76 | 12.09 |
| POLYPLEX | 1135.00 | 22.94 | 3563.04 | 0.26 | 171.07 | 386.02 | 2253.62 | 29.62 | 1.51 | 13.15 |
| NILKAMAL | 2054.70 | 24.60 | 3066.13 | 0.97 | 24.40 | 59.20 | 819.73 | -7.18 | 10.76 | 9.44 |
| XPROINDIA | 1294.90 | 93.05 | 3039.18 | 0.15 | 7.63 | 239.10 | 174.42 | 20.37 | 4.00 | 9.08 |
| AVROIND | 7.85 | 24.85 | 105.32 | 0.00 | 0.69 | -34.13 | 25.34 | 16.95 | 8.21 | 0.36 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23 | 19 | 29 | 23 | 17 | 18 | 24 | 19 | 22 | 21 | 24 | 24 | 23 | |
| 21 | 17 | 27 | 22 | 16 | 16 | 23 | 19 | 20 | 20 | 24 | 24 | 25 | |
| Operating Profit | 2 | 2 | 2 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 0 | -1 |
| OPM % | 7.35% | 8.17% | 6.24% | 3.46% | 7.18% | 9.03% | 6.28% | 3.69% | 5.91% | 4.71% | 2.76% | 1.00% | -4.33% |
| 1 | 1 | 1 | 2 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Tax % | 31.29% | 25.55% | 27.10% | 30.40% | 4.35% | 33.06% | 26.76% | 23.53% | 26.57% | 16.44% | 23.57% | 25.00% | 8.64% |
| Net Profit | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| 1.01 | 1.01 | 1.11 | 0.87 | 0.65 | 0.83 | 0.98 | 0.38 | 0.79 | 0.92 | 0.80 | 0.65 | 0.05 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 14 | 27 | 49 | 44 | 53 | 65 | 80 | 93 | 78 | 93 | |
| 9 | 12 | 24 | 46 | 41 | 49 | 60 | 74 | 88 | 73 | 92 | |
| Operating Profit | 1 | 1 | 3 | 3 | 3 | 4 | 5 | 6 | 6 | 5 | 1 |
| OPM % | 12.20% | 10.41% | 9.73% | 5.87% | 6.23% | 7.14% | 7.97% | 7.85% | 6.25% | 6.52% | 0.95% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 4 | 4 | 8 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 2 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 4 | 4 |
| Profit before Tax | 0 | 0 | 1 | 1 | 1 | 2 | 4 | 6 | 6 | 4 | 5 |
| Tax % | 41.69% | 10.75% | 27.80% | 37.30% | 19.05% | 27.41% | 24.18% | 28.77% | 28.40% | 24.24% | 19.38% |
| Net Profit | 0 | 0 | 1 | 1 | 1 | 2 | 3 | 4 | 4 | 3 | 4 |
| EPS | 0.23 | 1.44 | 3.60 | 2.62 | 3.49 | 1.73 | 2.95 | 4.12 | 4.00 | 2.29 | — |
| 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:
- 26%
- 5 Years:
- 12%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 56%
- 5 Years:
- 22%
- 3 Years:
- 1%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 28%
- 3 Years:
- -12%
- 1 Year:
- -44%
RETURN ON EQUITY
- 10 Years:
- 15%
- 5 Years:
- 18%
- 3 Years:
- 17%
- Last Year:
- 6%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 3 | 3 | 3 | 10 | 10 | 10 | 13 |
| 1 | 1 | 4 | 9 | 10 | 14 | 11 | 15 | 19 | 69 | |
| 4 | 4 | 3 | 3 | 3 | 4 | 8 | 12 | 15 | 18 | |
| Trade Payables | 1 | 3 | 4 | 3 | 3 | 2 | 8 | 4 | 7 | 9 |
| 0 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 5 | 9 | |
| Total Liabilities | 8 | 10 | 16 | 20 | 20 | 25 | 38 | 42 | 56 | 118 |
| 4 | 4 | 8 | 8 | 8 | 10 | 12 | 15 | 20 | 25 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 3 |
| 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 1 | 2 | |
| 2 | 2 | 2 | 1 | 1 | 2 | 5 | 6 | 7 | 15 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21 | 24 | |
| Cash & Bank | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 42 |
| 3 | 4 | 6 | 10 | 9 | 12 | 20 | 19 | 6 | 8 | |
| Total Assets | 8 | 10 | 16 | 20 | 20 | 25 | 38 | 42 | 56 | 118 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | -2 | 3 | 1 | -0 | 5 | 6 | -2 | |
| Cash from Investing | -1 | -1 | -2 | -2 | -1 | -1 | -2 | -6 | -9 | -24 |
| Cash from Financing | -0 | -0 | -1 | 4 | -1 | 1 | 3 | 3 | 3 | 56 |
| -0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | -0 | 30 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - AVRO INDIA LIMITED has informed the Exchange about Copy of Newspaper Publication of completion of dispatch of Notice of AGM to be held on September 30, 2026
2026-09-09 - AVRO INDIA LIMITED has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026
2026-09-08 - AVRO INDIA LIMITED has informed the Exchange about General Updates
2026-09-08 - AVRO INDIA LIMITED has informed the Exchange that Record date for the purpose of Meeting is 23-Sep-2026.
2026-09-08 - AVRO INDIA LIMITED has informed the Exchange about Copy of Newspaper Publication w.r.t pre dispatch of Notice of 30th AGM
2026-09-04 - AVRO INDIA LIMITED has informed the Exchange about General Updates
2026-08-21 - AVRO INDIA LIMITED has informed the Exchange about Forfeiture
2026-08-17 - AVRO INDIA LIMITED has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - AVRO INDIA LIMITED has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
News
Recent coverage and analyst commentary for AVROIND
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Avro India Ltd.
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