Azad India Mobility Ltd.

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azadindiamobility.comBSE: -NSE: AZADIND

Market Cap₹ 490 Cr.

Current Price

High / Low₹ 99 / 73

Stock P/E157.9

Book Value₹ 24

Price to Book9.18

Dividend Yield0.00 %

ROCE-0.2 %

ROE0.2 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Metals & Mining

Hold

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.

Confidence

61%

View full sector analysis →

PROS

Company is almost debt free
Promoters have been increasing their shareholding - up 15.5pp over 2 years

CONS

Company is loss-making at the operating / net level
Company has a low return on equity of -27.0% over last 3 years
Company has a low return on capital employed of -16.8%
Interest coverage is weak at -2.8x - earnings barely cover interest
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.63x)
Operating cash flow has been negative in recent years

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

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products

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

S.No.	Name
1.	JSWSTEEL	1309.00	12.92	320109.92	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	183.65	20.78	229258.67	2.18	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	196.00	18.95	80958.30	1.20	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2646.15	30.23	69802.96	0.19	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	737.80	18.72	60825.68	0.54	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2151.00	48.59	59724.32	0.40	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1081.75	26.88	30195.09	0.42	350.73	20.66	5455.09	23.45	13.88	14.03
8.	JINDALSAW	310.70	30.41	19869.52	0.64	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2666.75	43.18	18691.78	0.38	1070.25	741.82	9716.33	743.71	18.01	16.69
10.	SARDAEN	506.95	15.81	17863.97	0.39	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	239.75	20.01	16140.90	0.42	222.37	2.75	1750.47	32.29	20.20	19.36
12.	AZADIND	89.95	159.00	489.72	0.00	0.78	1042.65	16.45	113.69	-0.27	2.48

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
	0	0	0	0	0	0	0	9	8	20	29	9	165
	0	0	0	0	0	0	0	9	8	20	28	7	161
Operating Profit	-0	-0	-0	-0	-0	-0	-0	0	-0	0	0	2	4
OPM %	—	—	—	—	—	—	—	1.11%	-0.91%	0.30%	0.80%	21.80%	2.24%
	0	0	0	0	0	1	0	0	0	0	0	0	4
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	-0	-0	-0	-0	-0	0	-0	0	0	0	1	2	8
Tax %	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	0.00%	-0.00%	0.00%	0.00%	0.00%	0.00%	35.29%	0.00%
Net Profit	-0	-0	-0	-0	-0	0	-0	0	0	0	1	1	8
	-0.62	-0.24	-0.76	-0.18	-0.06	0.04	-0.08	0.04	0.02	0.04	0.12	0.26	0.14

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	0	0	0	0	0	0	0	0	0	9	74
	0	0	0	0	0	0	0	0	1	10	71
Operating Profit	-0	-0	-0	-0	-0	-0	-0	-0	-1	-1	3
OPM %	—	—	—	—	—	—	—	—	—	-11.77%	3.48%
	0	0	0	0	0	0	0	0	0	1	1
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	-0	-0	-0	-0	-0	-0	-0	-0	-1	-0	4
Tax %	-0.00%	-3.40%	-0.90%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	154.42%	20.09%
Net Profit	-0	-0	-0	-0	-0	-0	-0	-0	-1	0	3
EPS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.91	-0.50	0.02	—
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:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: -26%
5 Years:: -35%
3 Years:: -27%
Last Year:: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1	1	1	1	1	1	1	1	24	35
	-0	-0	-0	-0	-1	-1	-1	-1	12	18
	0	0	0	0	0	0	0	0	0	2
Trade Payables	0	0	0	0	0	0	0	0	0	2
	0	0	0	0	0	0	0	0	7	8
Total Liabilities	1	1	1	1	1	0	0	0	43	65
	0	0	0	0	0	0	0	0	0	1
Capital Work in Progress	0	0	0	0	0	0	0	0	0	3
	0	0	0	0	0	0	0	0	0	3
	0	0	0	0	0	0	0	0	0	18
	0	0	0	0	0	0	0	0	0	2
Cash & Bank	1	0	0	0	0	0	0	0	43	1
	0	1	1	1	1	0	0	0	0	38
Total Assets	1	1	1	1	1	0	0	0	43	65

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-0	-0	1	-0	-0	-0	-0	-0	-1	3
Cash from Investing	0	0	-1	0	0	0	0	0	0	1
Cash from Financing	0	-0	0	0	0	0	0	0	0	-1
	0	-0	-0	-0	0	-0	0	-0	-1	3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	-1.19	-1.44	-1.05	-1.57	-1.10	-0.82	-1.83	-0.91	-0.50	0.02
Book Value (₹)	9.48	8.04	6.99	5.42	4.32	3.50	1.67	0.77	14.87	15.24
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	-1.19	-1.44	-1.05	-1.57	-1.10	-0.82	-1.83	-0.91	-0.50	0.04
PROFITABILITY
Operating Margin %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-11.77%
Net Margin %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.80%
ROE %	-11.82%	-16.43%	-14.03%	-25.30%	-22.52%	-20.94%	-70.84%	-74.41%	-6.74%	0.16%
ROCE %	-10.77%	-14.29%	-12.55%	-22.38%	-19.31%	-17.35%	-53.95%	-44.69%	-5.63%	-0.19%
	-10.68%	-14.61%	-12.50%	-22.06%	-18.92%	-17.06%	-52.38%	-42.09%	-5.62%	0.13%
EFFICIENCY
Debtor Days	0	0	0	0	0	0	0	0	0	80
Inventory Days	0	0	0	0	0	0	0	0	0	713
Payable Days	0	0	0	0	0	0	0	0	0	38
	0	0	0	0	0	0	0	0	0	755
FINANCIAL HEALTH
Debt to Equity (x)	0.12x	0.10x	0.12x	0.15x	0.19x	0.23x	0.48x	1.06x	0.00x	0.04x
Interest Coverage (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	-931.31x	-2.82x
	8.56x	9.62x	0.66x	0.60x	0.19x	0.23x	15.25x	21.72x	679.25x	13.62x
GROWTH
Revenue Growth %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Profit Growth %	-54.58%	-16.91%	24.95%	-50.17%	30.13%	25.31%	-123.69%	52.18%	-1374.54%	97.24%
Net Profit Growth %	-54.58%	-20.88%	26.76%	-48.84%	30.13%	25.31%	-123.69%	50.55%	-1237.75%	105.95%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	44.55%	104.08%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	6823.90x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	7.21x	9.18x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	-167.08x	0.00x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	0.01	1.21	1.21	4.13	3.59	15.53	15.53	15.53	15.53
	70.39	70.39	70.41	64.78	65.74	48.90	48.90	48.70	48.70
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	29.61	28.40	28.38	31.08	30.67	35.58	35.58	35.77	35.77

Documents

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

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