AKI India Ltd
Incorporated in 1994, AKI India Ltd designs, manufactures and exports leather products[1]
- Market Cap ₹ 62.2 Cr.
- Current Price ₹ 6.03
- High / Low ₹ 16.2 / 5.70
- Stock P/E 25.7
- Book Value ₹ 9.68
- Dividend Yield 0.00 %
- ROCE 4.60 %
- ROE 1.86 %
- Face Value ₹ 2.00
Pros
- Stock is trading at 0.61 times its book value
- Company is expected to give good quarter
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 3.23% over last 3 years.
- Earnings include an other income of Rs.7.20 Cr.
- Promoter holding has decreased over last 3 years: -18.9%
- Working capital days have increased from 102 days to 146 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 13.86 | 32.97 | 40.23 | 40.94 | 46.05 | 60.90 | 70.23 | 70.91 | 80.96 | 91.81 | |
| 14.12 | 32.65 | 39.26 | 40.04 | 45.03 | 58.57 | 67.32 | 68.57 | 81.11 | 92.30 | |
| Operating Profit | -0.26 | 0.32 | 0.97 | 0.90 | 1.02 | 2.33 | 2.91 | 2.34 | -0.15 | -0.49 |
| OPM % | -1.88% | 0.97% | 2.41% | 2.20% | 2.21% | 3.83% | 4.14% | 3.30% | -0.19% | -0.53% |
| 0.95 | 1.50 | 2.12 | 2.41 | 3.08 | 3.04 | 2.57 | 3.22 | 6.52 | 7.20 | |
| Interest | 0.22 | 1.60 | 1.59 | 1.71 | 1.16 | 1.39 | 2.01 | 1.83 | 1.89 | 2.18 |
| Depreciation | 0.27 | 1.38 | 1.39 | 1.40 | 1.34 | 2.23 | 1.90 | 1.85 | 1.81 | 1.89 |
| Profit before tax | 0.20 | -1.16 | 0.11 | 0.20 | 1.60 | 1.75 | 1.57 | 1.88 | 2.67 | 2.64 |
| Tax % | 50.00% | -6.90% | -54.55% | 45.00% | 30.62% | 5.71% | 26.75% | 27.13% | 37.08% | |
| 0.10 | -1.08 | 0.17 | 0.11 | 1.11 | 1.65 | 1.16 | 1.37 | 1.68 | 1.90 | |
| EPS in Rs | 0.18 | -1.10 | 0.17 | 0.03 | 0.23 | 0.25 | 0.17 | 0.16 | 0.19 | 0.19 |
| Dividend Payout % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | % |
| 3 Years: | 10% |
| TTM: | 25% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | % |
| 3 Years: | -6% |
| TTM: | 149% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | -34% |
| 1 Year: | -45% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 3% |
| Last Year: | 2% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.87 | 1.50 | 1.50 | 5.00 | 7.50 | 10.30 | 13.39 | 17.15 | 17.71 | 20.64 |
| Reserves | 1.86 | 0.83 | 0.99 | 1.10 | -0.25 | 3.77 | 1.60 | 42.56 | 47.43 | 79.22 |
| 8.27 | 20.71 | 21.84 | 20.89 | 16.48 | 29.43 | 29.51 | 18.07 | 19.34 | 25.99 | |
| 5.14 | 15.00 | 15.35 | 13.07 | 13.13 | 16.99 | 18.75 | 26.33 | 29.88 | 28.03 | |
| Total Liabilities | 16.14 | 38.04 | 39.68 | 40.06 | 36.86 | 60.49 | 63.25 | 104.11 | 114.36 | 153.88 |
| 4.98 | 9.35 | 9.89 | 9.35 | 7.66 | 13.73 | 12.16 | 12.73 | 11.63 | 13.74 | |
| CWIP | 0.23 | 1.11 | 1.87 | 2.00 | 2.00 | 2.51 | 4.47 | 7.00 | 8.77 | 8.78 |
| Investments | 0.45 | 0.04 | 0.04 | 0.04 | 0.04 | 2.48 | 1.03 | 1.03 | 1.14 | 1.03 |
| 10.48 | 27.54 | 27.88 | 28.67 | 27.16 | 41.77 | 45.59 | 83.35 | 92.82 | 130.33 | |
| Total Assets | 16.14 | 38.04 | 39.68 | 40.06 | 36.86 | 60.49 | 63.25 | 104.11 | 114.36 | 153.88 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| 1.27 | -0.69 | 3.20 | 0.76 | -1.05 | -17.62 | -2.67 | |||
| -2.69 | -0.99 | 0.56 | -0.99 | -0.74 | -17.69 | -1.51 | |||
| 1.26 | 1.37 | -4.16 | 0.34 | 1.99 | 35.65 | 5.15 | |||
| Net Cash Flow | -0.17 | -0.31 | -0.41 | 0.11 | 0.20 | 0.34 | 0.97 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 161.43 | 149.56 | 120.85 | 107.97 | 94.72 | 106.26 | 103.32 | 108.56 | 128.90 |
| Inventory Days | 101.68 | 127.63 | 120.29 | 135.69 | 108.28 | 131.86 | 129.33 | 178.61 | 169.55 |
| Days Payable | 155.01 | 185.37 | 153.19 | 136.24 | 110.64 | 124.33 | 118.20 | 135.82 | 124.97 |
| Cash Conversion Cycle | 108.11 | 91.82 | 87.95 | 107.42 | 92.36 | 113.79 | 114.45 | 151.35 | 173.47 |
| Working Capital Days | 127.99 | 118.35 | 97.90 | 125.53 | 102.09 | 30.39 | 30.51 | 130.28 | 146.21 |
| ROCE % | 7.18% | 7.44% | 10.88% | 8.14% | 6.07% | 4.60% |
Documents
Announcements
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
13 Jan - Submission of Regulation 74(5) dematerialisation confirmation certificate for quarter ended 31 Dec 2025 by MUFG Intime.
-
Announcement under Regulation 30 (LODR)-Resignation of Director
9 Jan - Three independent directors resigned; three appointed; committees reconstituted w.e.f. 9 Jan 2026.
-
Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015.
9 Jan - Three independent directors resigned; three new independent directors appointed; committees reconstituted on 9 Jan 2026.
-
Announcement under Regulation 30 (LODR)-Change in Directorate
9 Jan - Three independent directors resigned; three appointed; committees reconstituted effective 9 Jan 2026.
-
Board Meeting Outcome for Outcome And Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure
Requirements) Regulations, 2015
9 Jan - Three independent directors resigned; three appointed; committees reconstituted effective 9 Jan 2026.
Business Overview:[1][2]
AKIIL processes hides into finished leather and upholstery, and manufactures leather products such as footwear, horse bridles, browbands, crown pieces, pony articles and saddle girths, etc. It also designs and manufactures leather products for equestrian sports, horse covers, leather bags, belts and finished leather. Company takes technical assistance from Horse Riding Group from Germany for making of Leather Saddlery & Harness Goods