Afcom Holdings Ltd
Incorporated in February 2013, Afcom Holdings Limited is involved in transporting cargo on an airport-to-airport basis.[1]
- Market Cap ₹ 2,279 Cr.
- Current Price ₹ 917
- High / Low ₹ 1,269 / 387
- Stock P/E 48.7
- Book Value ₹ 99.5
- Dividend Yield 0.00 %
- ROCE 36.0 %
- ROE 28.9 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 28.6%
Cons
- Stock is trading at 9.21 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 71.2 to 95.5 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.
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 | |
---|---|---|---|---|---|
14 | 48 | 84 | 148 | 239 | |
20 | 39 | 66 | 112 | 170 | |
Operating Profit | -6 | 10 | 18 | 36 | 69 |
OPM % | -43% | 20% | 22% | 24% | 29% |
0 | 0 | 1 | 1 | 4 | |
Interest | 0 | 1 | 1 | 2 | 3 |
Depreciation | 0 | 0 | 0 | 0 | 4 |
Profit before tax | -6 | 8 | 18 | 34 | 65 |
Tax % | -31% | 39% | 25% | 26% | 26% |
-4 | 5 | 14 | 25 | 48 | |
EPS in Rs | -19.74 | 20.61 | 7.78 | 14.12 | 19.48 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 70% |
TTM: | 62% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 109% |
TTM: | 86% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 125% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 29% |
Last Year: | 29% |
Balance Sheet
Figures in Rs. Crores
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|
Equity Capital | 2 | 2 | 18 | 18 | 25 |
Reserves | -6 | 20 | 56 | 85 | 196 |
15 | 0 | 0 | 18 | 26 | |
0 | 3 | 9 | 16 | 29 | |
Total Liabilities | 12 | 25 | 83 | 138 | 275 |
0 | 0 | 0 | 0 | 17 | |
CWIP | 0 | 0 | 12 | 12 | 0 |
Investments | 0 | 0 | 0 | 0 | 0 |
11 | 25 | 70 | 125 | 258 | |
Total Assets | 12 | 25 | 83 | 138 | 275 |
Cash Flows
Figures in Rs. Crores
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|
-13 | -4 | -33 | -23 | 27 | |
-0 | -0 | -13 | -1 | -104 | |
13 | 4 | 52 | 21 | 74 | |
Net Cash Flow | -0 | 0 | 6 | -4 | -3 |
Ratios
Figures in Rs. Crores
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|
Debtor Days | 15 | 118 | 62 | 56 | 95 |
Inventory Days | |||||
Days Payable | |||||
Cash Conversion Cycle | 15 | 118 | 62 | 56 | 95 |
Working Capital Days | 189 | 161 | 212 | 80 | 117 |
ROCE % | 59% | 39% | 37% | 36% |
Documents
Announcements
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We Are Pleased To Inform That The Company Has Entered Into A Interline Traffic Agreement With Flydubai (Dubai Aviation Corporation), A UAE Based Corporation For A Worldwide Network Covering Various Destinations Around The Globe. This Gives Afcom A Worldwide Reach Through Flydubai'S Network From UAE.
10 Sep - Sept 10, 2025: AFCOM entered interline traffic agreement with Flydubai, granting worldwide reach via Flydubai network.
- Shareholders Meeting (AGM) To Be Held On Thursday, September 25, 2025 At 3:30 PM Through VC/OAVM 3 Sep
- Reg. 34 (1) Annual Report. 3 Sep
-
Clarification Letter To The Outcome Of Board Meeting Filed With BSE On 02.09.2025
3 Sep - Correction: proposed allottee name Manisha Chordia replaces erroneous 'Naman Chordia' in preferential placement list.
-
Board Meeting Outcome for Outcome Of Board Meeting
2 Sep - Preferential equity Rs106.64Cr, warrants Rs100.56Cr, QIP up to Rs200Cr; authorised capital to Rs30Cr; AGM Sept 25, 2025.
Annual reports
Concalls
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Aug 2025TranscriptNotesPPT
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Mar 2025TranscriptNotesPPT
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Nov 2024Transcript PPT REC
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.