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 ₹ 787 Cr.
- Current Price ₹ 328
- High / Low ₹ 432 / 246
- Stock P/E 20.1
- Book Value ₹ 98.8
- Dividend Yield 0.00 %
- ROCE 25.9 %
- ROE 22.7 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.0%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 244 days.
- Working capital days have increased from 116 days to 186 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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 1 | 1 | 4 | 137 | 95 | 119 | 192 | 320 | |
| 1 | 1 | 4 | 120 | 79 | 87 | 144 | 255 | |
| Operating Profit | 0 | 0 | 0 | 17 | 17 | 32 | 48 | 64 |
| OPM % | 6% | 5% | 4% | 12% | 17% | 27% | 25% | 20% |
| 0 | 0 | 0 | 0 | 0 | 4 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 9 | 11 | 12 | 11 | 9 |
| Depreciation | 0 | 0 | 0 | 3 | 3 | 3 | 3 | 3 |
| Profit before tax | 0 | 0 | 0 | 5 | 2 | 21 | 35 | 53 |
| Tax % | 33% | 50% | 67% | 56% | 36% | 31% | 27% | 26% |
| 0 | 0 | 0 | 2 | 1 | 14 | 26 | 39 | |
| EPS in Rs | 8.00 | 2.00 | 0.80 | 4.38 | 2.98 | 28.49 | 14.64 | 16.33 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 50% |
| TTM: | 66% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 197% |
| TTM: | 54% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 21% |
| 3 Years: | 26% |
| Last Year: | 23% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2005 | Mar 2006 | Mar 2007 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.05 | 0.05 | 0.25 | 5 | 5 | 5 | 17 | 24 |
| Reserves | 0 | 0 | 0 | 37 | 37 | 51 | 91 | 213 |
| 0 | 0 | 1 | 71 | 60 | 64 | 60 | 68 | |
| 0 | 0 | 1 | 49 | 62 | 82 | 87 | 96 | |
| Total Liabilities | 1 | 1 | 2 | 162 | 164 | 202 | 256 | 401 |
| 0 | 0 | 0 | 37 | 36 | 34 | 37 | 49 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 |
| 1 | 0 | 2 | 125 | 128 | 168 | 219 | 346 | |
| Total Assets | 1 | 1 | 2 | 162 | 164 | 202 | 256 | 401 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2005 | Mar 2006 | Mar 2007 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 10 | 3 | -4 | -57 | |||||
| 3 | 3 | -6 | -22 | |||||
| -21 | -7 | 13 | 88 | |||||
| Net Cash Flow | -8 | -1 | 2 | 9 | ||||
| Free Cash Flow | 13 | 6 | -11 | -75 | ||||
| CFO/OP | 65% | 12% | 0% | -73% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2005 | Mar 2006 | Mar 2007 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 144 | 111 | 122 | 178 | 187 | 311 | 242 | 244 |
| Inventory Days | 28 | 61 | 23 | 181 | 400 | 258 | 202 | 125 |
| Days Payable | 81 | 79 | 92 | 186 | 414 | 337 | 207 | 105 |
| Cash Conversion Cycle | 92 | 93 | 52 | 172 | 173 | 232 | 237 | 264 |
| Working Capital Days | 96 | 73 | 66 | 16 | -19 | 47 | 114 | 186 |
| ROCE % | 10% | 12% | 13% | 29% | 32% | 26% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Actual Production Nos. |
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| Capacity Utilization % |
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| Installed Capacity Nos. |
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Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Investor Presentation
12 Jun - Investors'' presentation submitted on 2nd June 2026
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
8 Jun - Submission of Transcript of Investors'' call dated 3rd June 2026
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 5 Jun
-
Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011
5 Jun - Ritu Bapna disclosed open-market acquisition on 12 Dec 2025, raising stake in Airfloa Rail to 5.02%.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
4 Jun - Resubmitted audio link for June 3, 2026 investors' conference call; no UPSI shared.
Concalls
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Jun 2026Transcript PPT REC
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Jun 2026TranscriptPPT REC
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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]