Avax Apparels and Ornaments Ltd
Incorporated in 2005, Avax Apparels and Ornaments Ltd is in the business trading
of fabric and online sale of jewellery[1]
- Market Cap ₹ 20.9 Cr.
- Current Price ₹ 201
- High / Low ₹ 209 / 92.5
- Stock P/E 10.8
- Book Value ₹ 75.2
- Dividend Yield 0.00 %
- ROCE 43.8 %
- ROE 33.4 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 44.9%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 58.2 to 71.7 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
Consumer Discretionary Textiles Textiles & Apparels Other Textile Products
Part of BSE SME IPO
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00 | 0.00 | 0.29 | 14.70 | 22.06 | 34.36 | 39.55 | |
| 0.00 | 0.00 | 0.01 | 0.28 | 13.71 | 19.96 | 31.70 | 36.31 | |
| Operating Profit | 0.00 | 0.00 | -0.01 | 0.01 | 0.99 | 2.10 | 2.66 | 3.24 |
| OPM % | 3.45% | 6.73% | 9.52% | 7.74% | 8.19% | |||
| 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.10 | 0.10 | |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.07 | 0.16 | 0.20 |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.09 | 0.32 | 0.46 |
| Profit before tax | 0.00 | 0.00 | 0.00 | 0.01 | 0.94 | 1.94 | 2.28 | 2.68 |
| Tax % | 0.00% | 26.60% | 28.87% | 28.51% | ||||
| 0.00 | 0.00 | 0.00 | 0.01 | 0.69 | 1.38 | 1.63 | 1.93 | |
| EPS in Rs | 0.00 | 0.00 | 0.00 | 0.92 | 9.02 | 18.03 | 15.69 | 18.57 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 391% |
| TTM: | 56% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 446% |
| TTM: | 18% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 45% |
| 3 Years: | 45% |
| Last Year: | 33% |
Balance Sheet
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 0.01 | 0.77 | 0.77 | 1.04 | 1.04 |
| Reserves | -0.01 | -0.01 | 0.00 | 0.01 | 1.00 | 2.38 | 5.57 | 6.77 |
| 0.00 | 0.00 | 0.00 | 0.30 | 0.00 | 0.72 | 0.66 | 2.34 | |
| 0.02 | 0.01 | 0.00 | 0.26 | 1.69 | 0.97 | 2.02 | 5.56 | |
| Total Liabilities | 0.02 | 0.01 | 0.01 | 0.58 | 3.46 | 4.84 | 9.29 | 15.71 |
| 0.00 | 0.00 | 0.00 | 0.03 | 0.18 | 0.95 | 1.83 | 1.58 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 0.01 | 0.00 | 0.01 | 0.55 | 3.28 | 3.89 | 7.46 | 14.13 | |
| Total Assets | 0.02 | 0.01 | 0.01 | 0.58 | 3.46 | 4.84 | 9.29 | 15.71 |
Cash Flows
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 0.00 | 0.00 | -0.14 | -0.36 | 0.10 | -0.57 | ||
| 0.00 | 0.00 | -0.03 | -0.18 | -0.87 | -1.20 | ||
| 0.00 | 0.00 | 0.30 | 0.73 | 0.69 | 1.68 | ||
| Net Cash Flow | 0.00 | 0.00 | 0.13 | 0.20 | -0.08 | -0.09 |
Ratios
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 327.24 | 52.39 | 50.63 | 71.70 | |||
| Inventory Days | 0.00 | 17.34 | 8.46 | 4.43 | |||
| Days Payable | 40.56 | 7.33 | 17.01 | ||||
| Cash Conversion Cycle | 327.24 | 29.18 | 51.76 | 59.13 | |||
| Working Capital Days | -314.66 | 28.06 | 31.77 | 48.65 | |||
| ROCE % | 0.00% | 6.06% | 91.87% | 71.28% | 43.81% |
Documents
Announcements
-
Non-Applicability Of Disclosure Of Related Party Transactions Under Regulation 23(9) Of SEBI (LODR) Regulations, 2015 For The Half Year Ended September 30, 2025 Of Avax Apparels And Ornaments Limited ("The Company")
1d - Regulation 23(9) RPT disclosure not applicable for half year ended Sep 30, 2025; paid-up ≤₹10 crore, net worth ≤₹25 crore.
-
Statement On Deviation Or Variation Of Funds As Per Regulation 32 Of The SEBI (LODR) Regulations, 2015 For The Half Year Ended September 30, 2025 Of Avax Apparels And Ornaments Limited ("The Company")
1d - No deviation in utilization of Rs.191.80 lakh IPO proceeds raised 10-Jan-2025; reviewed Nov 12, 2025.
-
Output Of Meeting Of The Board Of Director Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
1d - Board approved Ludhiana factory, up to Rs.5 Cr capex; books moved to Ludhiana effective Nov 12, 2025.
-
The Standalone Unaudited Financial Statement For The Half Year Ended As On 30Th September, 2025 With Limited Review Report Thereon
1d - Approved standalone unaudited financials for half-year ended 30 Sep 2025; limited review report attached.
-
Board Meeting Outcome for Output Of Meeting Of The Board Of Director Under Regulation 30 And Regulation 33 Of The SEBI (LODR) Regulations, 2015
1d - Approved standalone unaudited financials for half-year ended 30 September 2025 with limited review report.
Business Verticals:[1]
a) Wholesale trading:
Company operates in the wholesale trading of knitted cloth. They buy from manufacturers and sell on wholesale basis to companies and readymade garment manufacturers in Punjab. The company specializes in knitted cloth, which are used for manufacturing of ladies and gents' jackets
b) Online retail of silver ornaments:
Company operates in the business of online
retail of silver ornaments. They offer a wide
range of designs and articles with a choice
of weight of products, such as silver rings,
silver ladies pajeb, silver gents kada, silver
plate set, silver glass, silver bangles, silver
bowls, silver chains, and other silver jewellery.