Airfloa Rail Technology Ltd
Incorporated in December 1998, Airfloa Rail Technology Limited manufactures components for Indian Railways' rolling stock through production units like the Integral Coach Factory (ICF) and other coach factories.[1]
- Market Cap ₹ 691 Cr.
- Current Price ₹ 288
- High / Low ₹ 432 / 246
- Stock P/E 24.6
- Book Value ₹ 87.5
- Dividend Yield 0.00 %
- ROCE 31.9 %
- ROE 31.0 %
- Face Value ₹ 10.0
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 242 days.
- Company's cost of borrowing seems high
- Working capital days have increased from 47.5 days to 114 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
Industrials Capital Goods Industrial Manufacturing Industrial Products
Part of BSE SME IPO
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2005 | Mar 2006 | Mar 2007 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 1 | 1 | 4 | 137 | 95 | 119 | 192 | 198 | |
| 1 | 1 | 4 | 120 | 79 | 87 | 144 | 150 | |
| Operating Profit | 0 | 0 | 0 | 17 | 17 | 32 | 48 | 48 |
| OPM % | 6% | 5% | 4% | 12% | 17% | 27% | 25% | 24% |
| 0 | 0 | 0 | 0 | 0 | 4 | 0 | 1 | |
| Interest | 0 | 0 | 0 | 9 | 11 | 12 | 11 | 10 |
| Depreciation | 0 | 0 | 0 | 3 | 3 | 3 | 3 | 3 |
| Profit before tax | 0 | 0 | 0 | 5 | 2 | 21 | 35 | 36 |
| Tax % | 33% | 50% | 67% | 56% | 36% | 31% | 27% | |
| 0 | 0 | 0 | 2 | 1 | 14 | 26 | 28 | |
| EPS in Rs | 8.00 | 2.00 | 0.80 | 4.38 | 2.98 | 28.49 | 14.64 | 14.23 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 12% |
| TTM: | 61% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 127% |
| TTM: | 79% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 24% |
| Last Year: | 31% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2005 | Mar 2006 | Mar 2007 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.05 | 0.05 | 0.25 | 5 | 5 | 5 | 17 | 24 |
| Reserves | 0 | 0 | 0 | 37 | 37 | 51 | 91 | 186 |
| 0 | 0 | 1 | 71 | 60 | 64 | 60 | 57 | |
| 0 | 0 | 1 | 49 | 62 | 82 | 87 | 53 | |
| Total Liabilities | 1 | 1 | 2 | 162 | 164 | 202 | 256 | 320 |
| 0 | 0 | 0 | 37 | 36 | 34 | 37 | 39 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 1 | 0 | 2 | 125 | 128 | 168 | 219 | 281 | |
| Total Assets | 1 | 1 | 2 | 162 | 164 | 202 | 256 | 320 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2005 | Mar 2006 | Mar 2007 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 10 | 3 | -4 | |||||
| 3 | 3 | -6 | |||||
| -21 | -7 | 13 | |||||
| Net Cash Flow | -8 | -1 | 2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2005 | Mar 2006 | Mar 2007 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 144 | 111 | 122 | 178 | 187 | 311 | 242 |
| Inventory Days | 28 | 61 | 23 | 181 | 400 | 258 | 202 |
| Days Payable | 81 | 79 | 92 | 186 | 414 | 337 | 207 |
| Cash Conversion Cycle | 92 | 93 | 52 | 172 | 173 | 232 | 237 |
| Working Capital Days | 96 | 73 | 66 | 16 | -19 | 47 | 114 |
| ROCE % | 10% | 12% | 13% | 29% | 32% |
Documents
Announcements
- Board Meeting Outcome for Aproval And Noting Down Of (1) Monitoring Agency Report And (2) Approval Of Statement Of Deviation & Variation In Use Of IPO Proceeds For The Quarter December 31, 2025 4m
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Statement Of Daviation & Variation For The Qtr-December 31, 2025
19m - Board noted Q3 (Dec 31, 2025) IPO proceeds report; auditor certified utilization; Rs1,253.41 lakh unutilized.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
3h - Group Investors''/ Analyst Meet on 18.02.2026 at 12.00 Noon
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
26 Jan - Jan 26, 2025 MoU with Janatics to develop/supply automatic door systems for Vande Bharat, Freight EMU, multiple door types.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
26 Jan - Airfloa signs MoU with Janatics on automatic door systems; signed Jan 26, 2026.
Concalls
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Nov 2025TranscriptPPT
Business Profile[1]
Airfloa Rail Technology Ltd is a 20+ year-old manufacturer and turnkey integrator of high-precision forged/machined components and interior/exterior assemblies for rolling stock (Indian Railways, metro, export coaches) and critical components for aerospace & defence.
It provides end-to-end solutions (design, tooling, manufacture, assembly, installation, commissioning) and has executed projects such as Vande Bharat (Train-18) components, Agra-Kanpur Metro, RRTS, Vistadome, and export DEMU coaches.[2]