Aeroflex Industries Ltd.

•

₹ 5035.83%

2026-08-21

aeroflexindia.comBSE: 543972NSE: AEROFLEX

Market Cap₹ 6,276 Cr.

Current Price₹ 475

High / Low₹ 522 / 158

Stock P/E93.5

Book Value₹ 35

Price to Book7.06

Dividend Yield0.08 %

ROCE19.1 %

ROE14.1 %

Face Value₹ 2

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ABOUT

KEY POINTS

PROS

Company has delivered good profit growth of 56.0% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 22.6%
Latest quarter profit grew 162.2% YoY, showing strong momentum
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 25.0% CAGR over last 5 years

CONS

Free cash flow has been persistently negative
Valuation is stretched - P/E of 93.5 is well above its own 5-year median (41.9)
Equity base is being diluted - shares outstanding up 15.8%
Stock is trading at 7.1x its book value
Growth is decelerating - 3Y profit CAGR (22.6%) trails the 5Y trend (56.0%)
Though reporting repeated profits, the company pays out little dividend (9.5%)

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

Peer comparison

EDIT COLUMNS

Metals & MiningIron & SteelSteel & Iron Products

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

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	JSWSTEEL	1281.30	12.64	313336.02	0.55	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	184.00	20.82	229695.59	2.17	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	172.50	16.68	71251.56	1.36	1644.05	120.80	26245.67	1.25	6.39	15.92
4.	JSL	723.75	18.37	59667.37	0.55	768.66	7.56	11278.54	10.50	19.19	12.09
5.	APLAPOLLO	2115.90	47.80	58749.74	0.40	263.11	10.94	5606.71	12.07	22.90	7.34
6.	WELCORP	1974.70	22.56	52090.74	0.25	1047.88	200.11	4081.12	14.91	23.94	32.17
7.	SHYAMMETL	988.70	24.57	27597.77	0.46	350.73	20.66	5455.09	23.45	13.88	14.03
8.	SARDAEN	512.45	15.98	18057.78	0.39	478.13	9.50	1608.04	-1.07	15.84	41.59
9.	JINDALSAW	268.95	26.32	17199.57	0.74	90.79	-78.15	4452.31	9.00	10.38	8.79
10.	GPIL	246.30	20.55	16578.39	0.41	222.37	2.75	1750.47	32.29	23.51	19.36
11.	RATNAMANI	2295.95	37.17	16092.77	0.44	107.03	-15.82	971.63	-15.63	18.01	16.69
12.	AEROFLEX	474.25	93.45	6275.79	0.08	18.79	162.22	145.38	72.39	19.11	23.04

Detailed Comparison with:

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
	83	84	73	78	90	95	100	92	84	111	121	126	145
	67	66	59	63	72	75	78	73	69	85	93	96	120
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	1	0	1	1	1	1	1	0	0	0	0	1	1
Interest	1	1	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	2	2	2	2	2	3	4	6	6	6	8	8
	15	15	13	14	17	19	20	15	10	20	22	23	26
Tax %	24.56%	24.12%	32.28%	28.10%	25.64%	26.83%	22.67%	24.73%	26.16%	27.84%	25.32%	21.88%	27.42%
Net Profit	0	0	0	0	12	14	15	11	7	14	16	18	19
	1	1	1	1	1	1	1	1	1	1	1	1	0
Equity Capital	23	26	26	26	26	26	26	26	26	26	26	26	26
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	23	26	26	26	26	26	26	26	26	26	26	26	26
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 83
: 67
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 1
Depreciation: 1
: 15
Tax %: 24.56%
Net Profit: 0
: 1
Equity Capital: 23
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 23
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 84
: 66
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 1
Depreciation: 2
: 15
Tax %: 24.12%
Net Profit: 0
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 73
: 59
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 2
: 13
Tax %: 32.28%
Net Profit: 0
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 78
: 63
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 2
: 14
Tax %: 28.10%
Net Profit: 0
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 90
: 72
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 2
: 17
Tax %: 25.64%
Net Profit: 12
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 95
: 75
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 2
: 19
Tax %: 26.83%
Net Profit: 14
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 100
: 78
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 3
: 20
Tax %: 22.67%
Net Profit: 15
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 92
: 73
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 4
: 15
Tax %: 24.73%
Net Profit: 11
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 84
: 69
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 6
: 10
Tax %: 26.16%
Net Profit: 7
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 111
: 85
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 6
: 20
Tax %: 27.84%
Net Profit: 14
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 121
: 93
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 6
: 22
Tax %: 25.32%
Net Profit: 16
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 126
: 96
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 8
: 23
Tax %: 21.88%
Net Profit: 18
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 145
: 120
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 8
: 26
Tax %: 27.42%
Net Profit: 19
: 0
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	144	145	241	269	318	376	442	503
	122	122	194	216	256	297	342	393
Operating Profit	23	23	47	53	66	82	102	—
OPM %	16	16	20	20	21	22	23	—
Other Income	1	0	0	0	4	3	1	2
Interest	12	9	7	4	3	1	2	1
Depreciation	4	4	4	5	6	11	26	28
	4	8	37	41	57	70	74	90
Tax %	-32	25	25	27	27	25	25	26
Net Profit	5	6	28	30	42	53	56	67
EPS	2	1	2	3	3	4	4	—
Dividend Payout %	0	0	8	8	8	7	10	—
Minority Interest	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0
Adjusted EPS	0	1	2	3	3	4	4	—
Minority Interest	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0
Adjusted EPS	0	1	2	3	3	4	4	—

Mar 2020

: 144
: 122
Operating Profit: 23
OPM %: 16
Other Income: 1
Interest: 12
Depreciation: 4
: 4
Tax %: -32
Net Profit: 5
EPS: 2
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 0

Mar 2021

: 145
: 122
Operating Profit: 23
OPM %: 16
Other Income: 0
Interest: 9
Depreciation: 4
: 8
Tax %: 25
Net Profit: 6
EPS: 1
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2022

: 241
: 194
Operating Profit: 47
OPM %: 20
Other Income: 0
Interest: 7
Depreciation: 4
: 37
Tax %: 25
Net Profit: 28
EPS: 2
Dividend Payout %: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2023

: 269
: 216
Operating Profit: 53
OPM %: 20
Other Income: 0
Interest: 4
Depreciation: 5
: 41
Tax %: 27
Net Profit: 30
EPS: 3
Dividend Payout %: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3

Mar 2024

: 318
: 256
Operating Profit: 66
OPM %: 21
Other Income: 4
Interest: 3
Depreciation: 6
: 57
Tax %: 27
Net Profit: 42
EPS: 3
Dividend Payout %: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3

Mar 2025

: 376
: 297
Operating Profit: 82
OPM %: 22
Other Income: 3
Interest: 1
Depreciation: 11
: 70
Tax %: 25
Net Profit: 53
EPS: 4
Dividend Payout %: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2026

: 442
: 342
Operating Profit: 102
OPM %: 23
Other Income: 1
Interest: 2
Depreciation: 26
: 74
Tax %: 25
Net Profit: 56
EPS: 4
Dividend Payout %: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

TTM

: 503
: 393
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 1
Depreciation: 28
: 90
Tax %: 26
Net Profit: 67
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 25%
3 Years:: 18%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 56%
3 Years:: 23%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 155%

RETURN ON EQUITY

10 Years:: —
5 Years:: 24%
3 Years:: 17%
Last Year:: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-
Equity Capital	23	23	23	23	26	26	26
	30	36	63	91	267	317	421
	26	18	18	25	0	0	0
Trade Payables	34	40	34	37	55	57	81
	42	44	45	38	27	27	37
Total Liabilities	154	161	183	214	375	427	565
ASSETS	-	-	-	-	-	-	-
	44	43	46	56	83	172	213
Capital Work in Progress	0	0	6	1	5	10	23
	32	34	36	56	59	67	84
	0	0	0	0	95	117	130
Cash & Bank	5	4	8	6	106	27	70
	73	79	87	95	27	35	45
Total Assets	154	161	183	214	375	427	565
Total Debt	63	53	39	45	0	1	1
Net Working Capital	42	49	54	76	199	157	212
Contingent Liabilities	0	0	0	0	0	47	47
Book Value per Share	22.95	25.47	37.32	9.95	22.67	26.48	33.80
Face Value	10.00	10.00	10.00	2.00	2.00	2.00	2.00
Total Debt	63	53	39	45	0	1	1
Net Working Capital	42	49	54	76	199	157	212
Contingent Liabilities	0	0	0	0	0	47	47
Book Value per Share	22.95	25.47	37.32	9.95	22.67	26.48	33.80
Face Value	10.00	10.00	10.00	2.00	2.00	2.00	2.00

Mar 2020

Equity Capital: 23
: 30
: 26
Trade Payables: 34
: 42
Total Liabilities: 154
: 44
Capital Work in Progress: 0
: 32
: 0
Cash & Bank: 5
: 73
Total Assets: 154
Total Debt: 63
Net Working Capital: 42
Contingent Liabilities: 0
Book Value per Share: 22.95
Face Value: 10.00
Total Debt: 63
Net Working Capital: 42
Contingent Liabilities: 0
Book Value per Share: 22.95
Face Value: 10.00

Mar 2021

Equity Capital: 23
: 36
: 18
Trade Payables: 40
: 44
Total Liabilities: 161
: 43
Capital Work in Progress: 0
: 34
: 0
Cash & Bank: 4
: 79
Total Assets: 161
Total Debt: 53
Net Working Capital: 49
Contingent Liabilities: 0
Book Value per Share: 25.47
Face Value: 10.00
Total Debt: 53
Net Working Capital: 49
Contingent Liabilities: 0
Book Value per Share: 25.47
Face Value: 10.00

Mar 2022

Equity Capital: 23
: 63
: 18
Trade Payables: 34
: 45
Total Liabilities: 183
: 46
Capital Work in Progress: 6
: 36
: 0
Cash & Bank: 8
: 87
Total Assets: 183
Total Debt: 39
Net Working Capital: 54
Contingent Liabilities: 0
Book Value per Share: 37.32
Face Value: 10.00
Total Debt: 39
Net Working Capital: 54
Contingent Liabilities: 0
Book Value per Share: 37.32
Face Value: 10.00

Mar 2023

Equity Capital: 23
: 91
: 25
Trade Payables: 37
: 38
Total Liabilities: 214
: 56
Capital Work in Progress: 1
: 56
: 0
Cash & Bank: 6
: 95
Total Assets: 214
Total Debt: 45
Net Working Capital: 76
Contingent Liabilities: 0
Book Value per Share: 9.95
Face Value: 2.00
Total Debt: 45
Net Working Capital: 76
Contingent Liabilities: 0
Book Value per Share: 9.95
Face Value: 2.00

Mar 2024

Equity Capital: 26
: 267
: 0
Trade Payables: 55
: 27
Total Liabilities: 375
: 83
Capital Work in Progress: 5
: 59
: 95
Cash & Bank: 106
: 27
Total Assets: 375
Total Debt: 0
Net Working Capital: 199
Contingent Liabilities: 0
Book Value per Share: 22.67
Face Value: 2.00
Total Debt: 0
Net Working Capital: 199
Contingent Liabilities: 0
Book Value per Share: 22.67
Face Value: 2.00

Mar 2025

Equity Capital: 26
: 317
: 0
Trade Payables: 57
: 27
Total Liabilities: 427
: 172
Capital Work in Progress: 10
: 67
: 117
Cash & Bank: 27
: 35
Total Assets: 427
Total Debt: 1
Net Working Capital: 157
Contingent Liabilities: 47
Book Value per Share: 26.48
Face Value: 2.00
Total Debt: 1
Net Working Capital: 157
Contingent Liabilities: 47
Book Value per Share: 26.48
Face Value: 2.00

Mar 2026

Equity Capital: 26
: 421
: 0
Trade Payables: 81
: 37
Total Liabilities: 565
: 213
Capital Work in Progress: 23
: 84
: 130
Cash & Bank: 70
: 45
Total Assets: 565
Total Debt: 1
Net Working Capital: 212
Contingent Liabilities: 47
Book Value per Share: 33.80
Face Value: 2.00
Total Debt: 1
Net Working Capital: 212
Contingent Liabilities: 47
Book Value per Share: 33.80
Face Value: 2.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	13	12	32	7	44	27	66
Cash from Investing	-1	-3	-13	-9	-64	-74	-120
Cash from Financing	-10	-10	-14	0	90	-3	47
	2	-1	5	-2	70	-50	-7
Free Cash Flow	13	9	19	-3	7	-80	-15
OCF / Net Profit	2.74	2.01	1.17	0.24	1.06	0.51	1.19
Cumulative 5-Year FCF	0	0	0	0	0	-48	-72
OCF / Net Profit	2.74	2.01	1.17	0.24	1.06	0.51	1.19
Cumulative 5-Year FCF	0	0	0	0	0	-48	-72

Mar 2020

: 13
Cash from Investing: -1
Cash from Financing: -10
: 2
Free Cash Flow: 13
OCF / Net Profit: 2.74
Cumulative 5-Year FCF: 0
OCF / Net Profit: 2.74
Cumulative 5-Year FCF: 0

Mar 2021

: 12
Cash from Investing: -3
Cash from Financing: -10
: -1
Free Cash Flow: 9
OCF / Net Profit: 2.01
Cumulative 5-Year FCF: 0
OCF / Net Profit: 2.01
Cumulative 5-Year FCF: 0

Mar 2022

: 32
Cash from Investing: -13
Cash from Financing: -14
: 5
Free Cash Flow: 19
OCF / Net Profit: 1.17
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.17
Cumulative 5-Year FCF: 0

Mar 2023

: 7
Cash from Investing: -9
Cash from Financing: 0
: -2
Free Cash Flow: -3
OCF / Net Profit: 0.24
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.24
Cumulative 5-Year FCF: 0

Mar 2024

: 44
Cash from Investing: -64
Cash from Financing: 90
: 70
Free Cash Flow: 7
OCF / Net Profit: 1.06
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.06
Cumulative 5-Year FCF: 0

Mar 2025

: 27
Cash from Investing: -74
Cash from Financing: -3
: -50
Free Cash Flow: -80
OCF / Net Profit: 0.51
Cumulative 5-Year FCF: -48
OCF / Net Profit: 0.51
Cumulative 5-Year FCF: -48

Mar 2026

: 66
Cash from Investing: -120
Cash from Financing: 47
: -7
Free Cash Flow: -15
OCF / Net Profit: 1.19
Cumulative 5-Year FCF: -72
OCF / Net Profit: 1.19
Cumulative 5-Year FCF: -72

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE	-	-	-	-	-	-	-
EPS (₹)	2.05	2.63	12.03	2.64	3.23	4.06	4.20
Book Value (₹)	22.95	25.47	37.32	9.95	22.67	26.48	33.80
Dividend per Share (₹)	0.00	0.00	1.00	0.20	0.25	0.30	0.40
Cash EPS (₹)	0.75	0.86	2.77	3.09	3.71	4.93	6.17
PROFITABILITY	-	-	-	-	-	-	-
Operating Margin %	15.59%	15.56%	19.56%	19.77%	19.60%	21.16%	22.70%
Net Margin %	3.23%	4.13%	11.39%	11.19%	13.13%	13.96%	12.56%
ROE %	8.94%	10.86%	38.32%	30.29%	20.51%	16.52%	14.06%
ROCE %	13.09%	15.18%	36.88%	31.77%	26.50%	22.28%	19.11%
	3.04%	3.82%	15.99%	15.17%	14.17%	13.10%	11.20%
EFFICIENCY	-	-	-	-	-	-	-
Debtor Days	74	79	65	81	93	102	102
Inventory Days	80	83	53	62	66	61	62
Payable Days	130	145	87	76	83	93	100
	24	18	31	67	76	70	64
FINANCIAL HEALTH	-	-	-	-	-	-	-
Debt to Equity (x)	1.21x	0.91x	0.46x	0.40x	0.00x	0.00x	0.00x
Interest Coverage (x)	1.31x	1.87x	6.58x	11.96x	22.74x	75.56x	49.59x
	1.64x	1.73x	1.71x	1.96x	3.46x	2.91x	2.91x
GROWTH	-	-	-	-	-	-	-
Revenue Growth %	0.00%	0.30%	66.33%	11.90%	17.98%	18.35%	17.46%
Operating Profit Growth %	0.00%	0.00%	108.49%	12.79%	24.14%	24.21%	23.77%
Net Profit Growth %	0.00%	28.11%	357.59%	9.62%	38.41%	25.81%	5.75%
	0.00%	0.00%	0.00%	0.00%	22.36%	25.81%	3.35%
VALUATION	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	37.63x	41.91x	56.84x
P/B (x)	0.00x	0.00x	0.00x	0.00x	5.36x	6.43x	7.06x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.21%	0.18%	0.17%
	0.00x	0.00x	0.00x	0.00x	22.15x	26.46x	30.36x

Mar 2020

EPS (₹): 2.05
Book Value (₹): 22.95
Dividend per Share (₹): 0.00
Cash EPS (₹): 0.75
Operating Margin %: 15.59%
Net Margin %: 3.23%
ROE %: 8.94%
ROCE %: 13.09%
: 3.04%
Debtor Days: 74
Inventory Days: 80
Payable Days: 130
: 24
Debt to Equity (x): 1.21x
Interest Coverage (x): 1.31x
: 1.64x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 2.63
Book Value (₹): 25.47
Dividend per Share (₹): 0.00
Cash EPS (₹): 0.86
Operating Margin %: 15.56%
Net Margin %: 4.13%
ROE %: 10.86%
ROCE %: 15.18%
: 3.82%
Debtor Days: 79
Inventory Days: 83
Payable Days: 145
: 18
Debt to Equity (x): 0.91x
Interest Coverage (x): 1.87x
: 1.73x
Revenue Growth %: 0.30%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 28.11%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 12.03
Book Value (₹): 37.32
Dividend per Share (₹): 1.00
Cash EPS (₹): 2.77
Operating Margin %: 19.56%
Net Margin %: 11.39%
ROE %: 38.32%
ROCE %: 36.88%
: 15.99%
Debtor Days: 65
Inventory Days: 53
Payable Days: 87
: 31
Debt to Equity (x): 0.46x
Interest Coverage (x): 6.58x
: 1.71x
Revenue Growth %: 66.33%
Operating Profit Growth %: 108.49%
Net Profit Growth %: 357.59%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 2.64
Book Value (₹): 9.95
Dividend per Share (₹): 0.20
Cash EPS (₹): 3.09
Operating Margin %: 19.77%
Net Margin %: 11.19%
ROE %: 30.29%
ROCE %: 31.77%
: 15.17%
Debtor Days: 81
Inventory Days: 62
Payable Days: 76
: 67
Debt to Equity (x): 0.40x
Interest Coverage (x): 11.96x
: 1.96x
Revenue Growth %: 11.90%
Operating Profit Growth %: 12.79%
Net Profit Growth %: 9.62%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 3.23
Book Value (₹): 22.67
Dividend per Share (₹): 0.25
Cash EPS (₹): 3.71
Operating Margin %: 19.60%
Net Margin %: 13.13%
ROE %: 20.51%
ROCE %: 26.50%
: 14.17%
Debtor Days: 93
Inventory Days: 66
Payable Days: 83
: 76
Debt to Equity (x): 0.00x
Interest Coverage (x): 22.74x
: 3.46x
Revenue Growth %: 17.98%
Operating Profit Growth %: 24.14%
Net Profit Growth %: 38.41%
: 22.36%
P/E (x): 37.63x
P/B (x): 5.36x
Dividend Yield %: 0.21%
: 22.15x

Mar 2025

EPS (₹): 4.06
Book Value (₹): 26.48
Dividend per Share (₹): 0.30
Cash EPS (₹): 4.93
Operating Margin %: 21.16%
Net Margin %: 13.96%
ROE %: 16.52%
ROCE %: 22.28%
: 13.10%
Debtor Days: 102
Inventory Days: 61
Payable Days: 93
: 70
Debt to Equity (x): 0.00x
Interest Coverage (x): 75.56x
: 2.91x
Revenue Growth %: 18.35%
Operating Profit Growth %: 24.21%
Net Profit Growth %: 25.81%
: 25.81%
P/E (x): 41.91x
P/B (x): 6.43x
Dividend Yield %: 0.18%
: 26.46x

Mar 2026

EPS (₹): 4.20
Book Value (₹): 33.80
Dividend per Share (₹): 0.40
Cash EPS (₹): 6.17
Operating Margin %: 22.70%
Net Margin %: 12.56%
ROE %: 14.06%
ROCE %: 19.11%
: 11.20%
Debtor Days: 102
Inventory Days: 62
Payable Days: 100
: 64
Debt to Equity (x): 0.00x
Interest Coverage (x): 49.59x
: 2.91x
Revenue Growth %: 17.46%
Operating Profit Growth %: 23.77%
Net Profit Growth %: 5.75%
: 3.35%
P/E (x): 56.84x
P/B (x): 7.06x
Dividend Yield %: 0.17%
: 30.36x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	66.99	66.99	66.99	66.99	66.99	66.99	66.99	65.47	65.47
	0.21	0.13	1.57	0.66	0.39	0.23	0.99	1.49	3.61
	5.91	5.59	5.64	5.89	3.85	3.41	3.54	3.80	1.48
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	26.89	27.28	25.78	26.46	28.77	29.36	28.47	29.24	29.45

Jun 2024

: 66.99
: 0.21
: 5.91
Government: 0.00
: 26.89

Sep 2024

: 66.99
: 0.13
: 5.59
Government: 0.00
: 27.28

Dec 2024

: 66.99
: 1.57
: 5.64
Government: 0.00
: 25.78

Mar 2025

: 66.99
: 0.66
: 5.89
Government: 0.00
: 26.46

Jun 2025

: 66.99
: 0.39
: 3.85
Government: 0.00
: 28.77

Sep 2025

: 66.99
: 0.23
: 3.41
Government: 0.00
: 29.36

Dec 2025

: 66.99
: 0.99
: 3.54
Government: 0.00
: 28.47

Mar 2026

: 65.47
: 1.49
: 3.80
Government: 0.00
: 29.24

Jun 2026

: 65.47
: 3.61
: 1.48
Government: 0.00
: 29.45

Documents

Announcements

Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-10 - Intimation of Schedule of Investors/Analysts Meeting to be held on August 19, 2026.
Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-10 - Aeroflex Industries Limited has informed the Exchange about Schedule of meet

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Jul 2026
Transcript PPTREC
May 2026
Transcript PPTREC
Feb 2026
TranscriptPPTREC