Aarvi Encon Ltd
₹ 144
20.00%
14 Nov
9:29 a.m.
About
Incorporated in 1987, Aarvi is India’s leading technical staffing company, which specializes in providing expert engineering staffing solutions.[1]
Key Points
- Market Cap ₹ 213 Cr.
- Current Price ₹ 144
- High / Low ₹ 155 / 88.0
- Stock P/E 14.9
- Book Value ₹ 89.4
- Dividend Yield 1.39 %
- ROCE 10.8 %
- ROE 8.26 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 25.3%
Cons
- Tax rate seems low
- Company has a low return on equity of 10.9% over last 3 years.
* 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.
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Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 99 | 115 | 110 | 153 | 173 | 206 | 218 | 202 | 289 | 437 | 406 | 510 | 586 | |
| 89 | 103 | 105 | 144 | 164 | 195 | 209 | 192 | 275 | 418 | 393 | 496 | 568 | |
| Operating Profit | 10 | 12 | 5 | 9 | 10 | 11 | 9 | 10 | 13 | 19 | 13 | 14 | 19 |
| OPM % | 10% | 10% | 5% | 6% | 6% | 6% | 4% | 5% | 5% | 4% | 3% | 3% | 3% |
| 1 | 0 | 1 | 0 | 2 | 1 | 1 | 2 | 1 | 0 | 2 | 2 | 2 | |
| Interest | 1 | 1 | 1 | 2 | 1 | 1 | 2 | 1 | 1 | 2 | 2 | 4 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 |
| Profit before tax | 8 | 10 | 4 | 7 | 10 | 10 | 7 | 10 | 12 | 16 | 12 | 11 | 16 |
| Tax % | 43% | 34% | 31% | 25% | 19% | 15% | -3% | -2% | 1% | 7% | 6% | 10% | |
| 5 | 6 | 3 | 5 | 8 | 9 | 7 | 10 | 12 | 15 | 11 | 10 | 14 | |
| EPS in Rs | 152.58 | 207.10 | 81.61 | 172.90 | 5.26 | 5.84 | 4.86 | 7.08 | 8.16 | 9.81 | 7.67 | 6.78 | 9.68 |
| Dividend Payout % | 13% | 10% | 25% | 0% | 10% | 17% | 21% | 21% | 24% | 20% | 26% | 30% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 19% |
| 3 Years: | 21% |
| TTM: | 34% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 7% |
| 3 Years: | -7% |
| TTM: | 41% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 25% |
| 3 Years: | -8% |
| 1 Year: | -13% |
| Return on Equity | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 12% |
| 3 Years: | 11% |
| Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| Reserves | 21 | 26 | 27 | 32 | 48 | 55 | 62 | 70 | 80 | 93 | 102 | 111 | 118 |
| 11 | 9 | 9 | 15 | 4 | 8 | 10 | 4 | 6 | 3 | 10 | 27 | 32 | |
| 14 | 14 | 12 | 17 | 16 | 28 | 32 | 31 | 48 | 47 | 44 | 61 | 57 | |
| Total Liabilities | 49 | 53 | 52 | 67 | 83 | 106 | 118 | 120 | 149 | 158 | 171 | 213 | 222 |
| 9 | 9 | 7 | 7 | 7 | 12 | 11 | 10 | 10 | 10 | 10 | 18 | 17 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 10 |
| 39 | 44 | 44 | 60 | 76 | 94 | 106 | 109 | 138 | 148 | 161 | 190 | 195 | |
| Total Assets | 49 | 53 | 52 | 67 | 83 | 106 | 118 | 120 | 149 | 158 | 171 | 213 | 222 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4 | 4 | 0 | 1 | -7 | -4 | 4 | 17 | -10 | 7 | 3 | -2 | |
| -0 | -0 | -0 | -0 | 1 | -1 | -0 | 2 | 0 | -0 | 1 | -13 | |
| -3 | -4 | -2 | 4 | 8 | 1 | -2 | -7 | -1 | -7 | 2 | 11 | |
| Net Cash Flow | 1 | 0 | -2 | 4 | 1 | -4 | 1 | 12 | -11 | -1 | 6 | -4 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 110 | 100 | 91 | 85 | 86 | 86 | 97 | 97 | 102 | 79 | 75 | 83 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 110 | 100 | 91 | 85 | 86 | 86 | 97 | 97 | 102 | 79 | 75 | 83 |
| Working Capital Days | 62 | 62 | 57 | 17 | 50 | 39 | 41 | 54 | 56 | 47 | 52 | 48 |
| ROCE % | 29% | 30% | 12% | 20% | 18% | 15% | 11% | 13% | 14% | 18% | 12% | 11% |
Documents
Announcements
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Outcome of Board Meeting
13 November 2025 - Approved unaudited Q2/H1 results: consolidated H1 revenue Rs31,148.43L, H1 PAT Rs902.09L.
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Bagging/Receiving of orders/contracts
28 October 2025 - Aarvi awarded INR 5.37 crore, 18-month wind-farm project management and manpower contract (28-Oct-2025–28-Apr-2027).
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Trading Window
30 September 2025 - Trading window closed Oct 1, 2025 until 48 hours after unaudited Q2/HY results for Sep 30, 2025.
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Updates
30 September 2025 - Aarvi Encon received Best Staffing Company Award at HR Tech Summit & Awards 2025 on September 26, 2025.
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Incorporation
23 September 2025 - Aarvi Encon's UAE subsidiary incorporated 100%-owned Malaysian Aarvi Energy Services SDN. BHD on Sep 23, 2025 (3,000 RM1 shares).
Annual reports
Concalls
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Aug 2025TranscriptNotesPPT
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Business Overview:[1]
a) AEL is an ISO 9001: 2015 certified company with a CRISIL SME-1 rating. It provides Engineering and Manpower Outsourcing Services in India and abroad
b) Aarvi provides engineers /designers/technicians right from project conceptualization, Design, Construction, & its Commissioning, including the plant maintenance
c) It can also mobilize manpower for shutdown assignment of 15 days to
a few months
d) Aarvi has a large in-house 8+ lac resume database and a referral based program