Afcom Holdings Ltd
Incorporated in February 2013, Afcom Holdings Limited is involved in transporting cargo on an airport-to-airport basis.[1]
- Market Cap ₹ 2,578 Cr.
- Current Price ₹ 898
- High / Low ₹ 1,144 / 638
- Stock P/E 21.2
- Book Value ₹ 175
- Dividend Yield 0.00 %
- ROCE 33.5 %
- ROE 36.0 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 98.8% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 32.9%
- Company's working capital requirements have reduced from 81.7 days to 48.4 days
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -5.70%
* 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.
Peer comparison
Services Services Transport Services Logistics Solution Provider
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 14 | 48 | 84 | 148 | 239 | 583 | |
| 20 | 39 | 66 | 112 | 170 | 350 | |
| Operating Profit | -6 | 10 | 18 | 36 | 69 | 234 |
| OPM % | -43% | 20% | 22% | 24% | 29% | 40% |
| 0 | 0 | 1 | 1 | 4 | 5 | |
| Interest | 0 | 1 | 1 | 2 | 3 | 32 |
| Depreciation | 0 | 0 | 0 | 0 | 4 | 53 |
| Profit before tax | -6 | 8 | 18 | 34 | 65 | 153 |
| Tax % | -31% | 39% | 25% | 26% | 26% | 20% |
| -4 | 5 | 14 | 25 | 48 | 122 | |
| EPS in Rs | -19.74 | 20.61 | 7.78 | 14.12 | 19.48 | 46.76 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 111% |
| 3 Years: | 91% |
| TTM: | 144% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 99% |
| 3 Years: | 109% |
| TTM: | 160% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -5% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 33% |
| 3 Years: | 33% |
| Last Year: | 36% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 18 | 18 | 25 | 26 |
| Reserves | -6 | 20 | 56 | 85 | 196 | 431 |
| 15 | 0 | 0 | 18 | 26 | 401 | |
| 0 | 3 | 9 | 16 | 29 | 77 | |
| Total Liabilities | 12 | 25 | 83 | 138 | 275 | 935 |
| 0 | 0 | 0 | 0 | 17 | 322 | |
| CWIP | 0 | 0 | 12 | 12 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 11 | 25 | 70 | 125 | 258 | 613 | |
| Total Assets | 12 | 25 | 83 | 138 | 275 | 935 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| -13 | -4 | -33 | 31 | 27 | 36 | |
| -0 | -0 | -13 | -55 | -104 | -207 | |
| 13 | 4 | 52 | 21 | 74 | 233 | |
| Net Cash Flow | -0 | 0 | 6 | -4 | -3 | 62 |
| Free Cash Flow | -13 | -4 | -45 | 31 | 22 | -76 |
| CFO/OP | 221% | -39% | -171% | 97% | 54% | 22% |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 15 | 118 | 62 | 56 | 95 | 85 |
| Inventory Days | 21 | |||||
| Days Payable | 33 | |||||
| Cash Conversion Cycle | 15 | 118 | 62 | 56 | 95 | 73 |
| Working Capital Days | 189 | 161 | 212 | 80 | 117 | 48 |
| ROCE % | 59% | 39% | 37% | 36% | 33% |
Insights
In beta| Sep 2021 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Fleet Size (Owned/Dry Leased Aircraft) Number of Aircraft |
|
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| Dispatch Reliability % |
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| Network Utilization (Load Factor) % |
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| Partner Airline Connectivity (Interline Agreements) Number of Airlines |
||||
| Payload Capacity per Aircraft (Boeing 737-800 BCF) Tonnes |
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Extracted by Screener AI
Documents
Announcements
-
Compliances-Reg.24(A)-Annual Secretarial Compliance
30 May - Annual Secretarial Compliance Report for FY2026 notes minor deviations and INR 5,900 SOP fine.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
30 May - Newspaper publication for Audited Financial Results for the period ended March 31, 2026
-
Results - Financial Year Ended March 31 2026
28 May - Board approved FY26 audited results; auditors issued unmodified opinion; first Ind AS results.
-
Board Meeting Outcome for Audited Financial Statements And Its Independent Auditors Report On Limited Review For The Financial Year Ended March 31 2026
28 May - Afcom approved FY26 audited results with unmodified opinion; first Ind AS adoption; preferential proceeds: Rs70.09 crore used, Rs59.49 crore unutilised.
-
Board Meeting Intimation for Audited Financial Results For The Period Ended March 31, 2026
25 May - Board meets May 28, 2026 to approve audited FY2026 and Q4 results; trading window closed until 48 hours after.
Business Profile[1][2]
Afcom Holdings is in air freight services, with a strong focus on domestic and international cargo movement, including e-commerce, mobile phones, and seafood. The company operates a Boeing 737-800 aircraft and holds key permits such as the Air Operator Permit and import approvals.