AEROFLEXCapital Goods

Aeroflex Industries Limited

Iron & Steel Products · ISIN INE024001021 · BSE 543972 · NSE EQ · FV ₹2
Last price
₹567
+10.65%today
What this company does

Aeroflex Industries Limited operates in Iron & Steel Products, part of the Capital Goods sector. It booked ₹207 cr of revenue in its latest quarter (Q2 FY27) and kept 17.6% of sales as profit.

In the report:
73out of 100
Equitytale Health Score
Solid

Healthier than 73% of companies in Capital Goods, on the 5 of 6 measures we could read for it. Each measure is ranked against the 105–127 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
50

At close. Not part of the score.

Profitability & returns90

How much profit it earns on the money it employs

Balance sheet83

How much it owes, and whether earnings cover the interest

Cash quality49

Whether reported profit actually arrives as cash

Valuation36

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 18% net margin
✓ Sales up 87% vs last year
✓ Profit up 157% vs last year
✓ Promoters hold 65%
✓ No promoter shares pledged
✓ Strong 29% return on equity
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in AEROFLEX?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹567▲ +10.65%
latest close · 2026-11-04
52-wk low ₹40274 sessions so far52-wk high ₹614
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio51.4High
LowAverageHigh
P/B ratio15.09High
Below bookModerateHigh
EV / EBITDA36.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity29.4%Strong
WeakFairStrong ▸15%
Return on capital38.5%Strong
WeakFairStrong
Net margin17.6%Strong
ThinDecentStrong
EBITDA margin24.4%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover83.0×Strong
RiskyOkayStrong ▸5×
Current ratio2.05Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹7,506 cr
Book value
₹38
EPS
₹2.76
latest quarter
Net debt
₹-24 cr
more cash than debt
Enterprise value
₹7,482 cr
EBITDA
₹203 cr
annualised
EBIT
₹201 cr
annualised
Operating margin
24.2%
Return on assets
20.6%
Earnings yield
1.95%
P/S
9.05
Sales / share
₹62.7
Tax rate
26.3%
Face value
₹2
Shares
13.2 cr
Working capital
₹197 cr
Current assets
₹386 cr
Current liabilities
₹188 cr
Delivery %
23.4%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹38–₹85, midpoint ₹61

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹207 cr
Other Income₹32.1 L
Total Income₹208 cr
Cost of Materials₹114 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹4 cr
Employee Benefit Expense₹18 cr
Finance Costs₹60.5 L
Depreciation & Amortisation₹44.8 L
Other Expenses₹21 cr
Total Expenses₹158 cr
Profit before Tax₹50 cr
Tax Expense₹13 cr
Net Profit₹37 cr
Net margin on total income17.6%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹118 cr57.0%
Employee benefit expense₹18 cr8.7%
Finance costs₹60.5 L0.3%
Depreciation & amortisation₹44.8 L0.2%
Other expenses₹21 cr10.0%
Tax expense₹13 cr6.3%
Profit for the period₹37 cr17.6%
Total income ₹208 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue126 cr145 cr207 cr
Total income126 cr146 cr208 cr
Expenses104 cr120 cr158 cr
Profit before tax23 cr26 cr50 cr
Tax5 cr7 cr13 cr
Net profit (owners' share)18 cr19 cr37 cr
Net margin (owners' share, on revenue)14.0%12.9%17.6%
EPS (₹)1.361.422.76
YoY (latest quarter): total income +87.0% · net profit +156.9%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹710 cr
Shareholder equity
₹497 cr
parent shareholders
Total debt
₹84.8 L
Cash
₹25 cr
Cash flow · H1 FY27
Operating
₹38 cr
Investing
₹-24 cr
Financing
₹-9 cr
Peer comparison
Iron & Steel Products · by market value
CompanyPriceMarket capP/E
Welspun Corp Limited₹2,316₹61,083 cr30.6
APL Apollo Tubes Limited₹2,153₹59,783 cr39.5
Shyam Metalics and Energy Limited₹1,220₹33,885 cr16.6
Ratnamani Metals & Tubes Limited₹2,380₹16,682 cr50.8
Jindal Saw Limited₹247₹15,794 cr83.4
Usha Martin Limited₹461₹14,057 cr24.7
Gallantt Ispat Limited₹526₹12,693 cr52.4
Godawari Power And Ispat limited₹193₹11,889 cr13.4
Jayaswal Neco Industries Limited₹90₹8,704 cr9.5
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.07%
trailing 12 months
Dividend / share (TTM)
₹0.4
Last dividend
₹0.4
ex 14 Jul 2026
ActionDetailEx-date
Dividend₹0.4 / share14 Jul 2026
Dividend₹0.3 / share29 Jul 2025
Dividend₹0.25 / share28 Jun 2024
Who owns it · 2026-09-30
No pledge
Promoter
65.5%
FII / Foreign
3.9%
DII / Domestic
1.4%
Retail / others
29.2%
Promoter stake down 1.5% over the last 12 quarters.
Smart-money activity
Bulk / block deals
SoldQE SECURITIES LLP · NSE6.77 L @ ₹540.0430 Oct 26
BoughtQE SECURITIES LLP · NSE6.71 L @ ₹540.1230 Oct 26
BoughtQE SECURITIES LLP · NSE14.01 L @ ₹55429 Oct 26
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Special shareholder meeting · 15 Jan 2026
See the official result
1
ISSUANCE OF EQUITY SHARES TO NON-PROMOTERS ON A PREFERENTIAL ALLOTMENT BASIS
Backed by 100% of shareholders other than promotersneeded 75%
38.23 L votes for, 1,791 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 2 named members
owning 65.5% between them · as of 2026-09-30
Aeroflex Enterprises Limited59.84%
Italica Global FZC5.63%
Business done with them
FY2026 · 1 of the group
The company paid ₹36.5 L to companies in the promoter group last year — about 0.1% of its ₹442 cr revenue and received ₹23 cr back from them.
Italica Global FZC
Sold goods to them · Sales, Business Development Service and Dividend Paid
also owns 5.63% of the company
₹23 cr
company received
Italica Global FZC
Paid them for services · Sales, Business Development Service and Dividend Paid
also owns 5.63% of the company
₹36.5 L
company paid

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹55 cr raised in Feb 2026 by selling shares to selected investors

As of Sep 2026, the company says it has spent 100% of what it set aside.

Long-term working capital
100%
₹42 cr of ₹42 cr
General Corporate Purpose
100%
₹12 cr of ₹12 cr
Preferential Issue Expenses-Advisory Fees
100%
₹1 cr of ₹1 cr
Preferential Issue expenses-Board Meetings, Extra- Ordinary General Meetings and Miscellaneous expenses
100%
₹3.4 L of ₹3.4 L
Spent by quarter: 23% → 80% → 100% (to Sep 2026)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.