Aeroflex Enterprises Ltd

₹ 88.9 -1.21%

10 Oct 11:14 a.m.

About

Incorporated in 1985, Aeroflex Enterprises Ltd,
is in the business of general trading of merchandise, manufacturing of goods, leasing of assets, and financing^[1]

Key Points

Business Overview:^[1]^[2]^[3]^[4]
The company operates as a holding entity with interests across Manufacturing, Leasing, Finance, Investments, Domestic Trading, and Import & Export through its group companies. It also directly deals in stainless steel products via a contract manufacturing model, converting recyclable pellets into customizable SS wire rods for diverse industrial applications. It operates 10 subsidiaries, 6 business verticals, and investments across 35+ sectors—including stakes in over 160 startups—the company has built a broad and diversified business portfolio.

Website BSE NSE

Market Cap ₹ 1,005 Cr.
Current Price ₹ 88.9
High / Low ₹ 152 / 70.1
Stock P/E 106
Book Value ₹ 31.5
Dividend Yield 0.34 %
ROCE 3.66 %
ROE 2.39 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company is almost debt free.
Company has delivered good profit growth of 169% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 21.6%

Cons

Stock is trading at 2.83 times its book value
The company has delivered a poor sales growth of -27.4% over past five years.
Company has a low return on equity of 3.60% over last 3 years.
Earnings include an other income of Rs.15.3 Cr.
Company has high debtors of 927 days.
Working capital days have increased from 1,227 days to 3,502 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 Products Iron & Steel Products

Part of BSE SmallCap BSE Allcap BSE Industrials

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	21.12	28.84	27.55	31.43	22.77	25.15	17.76	1.64	1.43	0.95	0.91	0.99	1.15
	19.66	27.61	24.81	30.20	20.49	24.55	16.84	1.53	0.90	0.99	2.23	1.22	1.63
Operating Profit	1.46	1.23	2.74	1.23	2.28	0.60	0.92	0.11	0.53	-0.04	-1.32	-0.23	-0.48
OPM %	6.91%	4.26%	9.95%	3.91%	10.01%	2.39%	5.18%	6.71%	37.06%	-4.21%	-145.05%	-23.23%	-41.74%
	0.32	4.03	1.87	0.31	71.45	187.05	6.00	5.12	4.78	6.99	2.92	2.95	2.42
Interest	0.44	0.52	1.41	0.51	0.00	0.54	0.61	0.53	0.18	0.42	0.09	0.02	0.00
Depreciation	0.14	0.14	0.24	0.14	0.13	0.13	0.12	0.12	0.16	0.16	-0.01	0.10	0.08
Profit before tax	1.20	4.60	2.96	0.89	73.60	186.98	6.19	4.58	4.97	6.37	1.52	2.60	1.86
Tax %	42.50%	13.26%	13.51%	8.99%	21.70%	11.87%	30.21%	27.07%	24.95%	25.43%	-11.84%	96.54%	-60.75%
	0.69	3.99	2.56	0.81	57.62	164.78	4.33	3.35	3.73	4.75	1.70	0.09	2.98
EPS in Rs	0.06	0.35	0.23	0.07	5.10	14.57	0.38	0.30	0.33	0.42	0.15	0.01	0.26
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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
	14.30	9.01	48.38	47.96	51.50	34.36	20.83	5.75	19.14	107.44	66.56	4.20	4.00
	16.92	11.54	47.92	45.68	46.00	29.33	20.33	4.00	15.46	102.24	62.86	4.65	6.07
Operating Profit	-2.62	-2.53	0.46	2.28	5.50	5.03	0.50	1.75	3.68	5.20	3.70	-0.45	-2.07
OPM %	-18.32%	-28.08%	0.95%	4.75%	10.68%	14.64%	2.40%	30.43%	19.23%	4.84%	5.56%	-10.71%	-51.75%
	0.36	-11.23	-0.01	11.67	0.40	0.00	0.91	0.00	4.39	6.17	270.37	17.05	15.28
Interest	0.00	0.00	0.00	0.03	0.23	0.28	0.06	0.06	1.40	1.98	2.22	0.73	0.53
Depreciation	0.01	0.01	0.04	0.09	0.14	0.28	0.32	0.36	0.62	0.55	0.51	0.42	0.33
Profit before tax	-2.27	-13.77	0.41	13.83	5.53	4.47	1.03	1.33	6.05	8.84	271.34	15.45	12.35
Tax %	-34.36%	0.00%	170.73%	1.23%	18.81%	25.28%	39.81%	34.59%	16.86%	15.95%	15.21%	33.59%
	-1.48	-13.76	-0.30	13.66	4.49	3.33	0.62	0.88	5.04	7.43	230.07	10.27	9.52
EPS in Rs	-0.38	-2.99	-0.05	1.39	0.42	0.31	0.05	0.08	0.45	0.66	20.34	0.91	0.84
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	24.05%	32.43%	0.00%	128.52%	33.66%	30.44%	1.47%	33.04%

Compounded Sales Growth
10 Years:	-7%
5 Years:	-27%
3 Years:	-40%
TTM:	-91%

Compounded Profit Growth
10 Years:	19%
5 Years:	169%
3 Years:	67%
TTM:	-95%

Stock Price CAGR
10 Years:	30%
5 Years:	40%
3 Years:	32%
1 Year:	-33%

Return on Equity
10 Years:	3%
5 Years:	3%
3 Years:	4%
Last Year:	2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	7.82	9.20	11.18	19.60	21.60	21.60	22.62	22.62	22.62	22.62	22.62	22.62
Reserves	10.92	-4.03	0.57	56.04	68.65	70.45	84.46	85.43	92.91	97.58	324.95	333.57
	0.80	3.06	17.60	0.48	0.65	0.54	0.62	0.42	28.81	34.84	29.47	0.09
	0.11	0.11	34.98	22.09	13.54	9.25	10.48	4.27	65.07	9.55	8.07	2.97
Total Liabilities	19.65	8.34	64.33	98.21	104.44	101.84	118.18	112.74	209.41	164.59	385.11	359.25
	0.01	0.01	1.59	2.36	4.45	5.78	6.03	5.68	7.72	6.49	7.99	7.10
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	11.67	0.50	22.40	38.77	38.74	38.50	52.89	54.04	53.17	54.62	63.81	123.34
	7.97	7.83	40.34	57.08	61.25	57.56	59.26	53.02	148.52	103.48	313.31	228.81
Total Assets	19.65	8.34	64.33	98.21	104.44	101.84	118.18	112.74	209.41	164.59	385.11	359.25

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-0.91	-0.66	16.01	-27.01	-11.98	2.22	-1.21	5.49	0.42	14.62	-53.64	20.04
	0.98	-0.16	-23.08	-5.83	-1.81	-1.61	-14.41	-1.19	1.38	4.92	46.33	11.79
	0.14	4.10	7.00	35.53	12.87	-1.65	14.78	-0.32	-2.79	-4.69	-10.41	-31.79
Net Cash Flow	0.21	3.28	-0.07	2.69	-0.91	-1.04	-0.84	3.98	-0.99	14.84	-17.72	0.04

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	56.66	14.58	265.34	160.28	56.06	61.51	81.31	60.30	67.32	28.91	65.04	927.27
Inventory Days	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.57	113.23	14.85	0.00
Days Payable								74.54	133.71	29.37
Cash Conversion Cycle	56.66	14.58	265.34	160.28	56.06	61.51	81.31	-11.67	46.83	14.39	65.04	927.27
Working Capital Days	117.16	9.32	-119.73	143.15	293.77	467.19	726.32	2,576.58	-228.84	93.97	83.35	3,502.26
ROCE %	-12.92%	-15.99%	2.24%	4.15%	6.42%	5.18%	0.18%	1.29%	2.82%	4.53%	6.59%	3.66%

Shareholding Pattern

Numbers in percentages

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%
	0.00%	0.89%	0.88%	1.97%	2.29%	0.75%	0.75%	1.11%	0.60%	0.56%	0.50%	0.50%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.21%	0.21%	0.00%	0.00%	0.04%	0.04%
	48.42%	47.53%	47.52%	46.44%	46.12%	47.66%	47.45%	47.11%	47.81%	47.84%	47.88%	47.87%
No. of Shareholders	3,457	5,085	5,822	6,958	16,588	24,970	28,519	33,216	42,081	43,125	43,045	42,832

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Jun 2025
	49.32%	54.01%	54.01%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.88%	0.75%	0.50%	0.50%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.21%	0.04%	0.04%
	50.68%	45.99%	45.99%	48.41%	48.41%	48.41%	47.52%	47.45%	47.88%	47.87%
No. of Shareholders	1,846	1,655	1,585	1,545	1,580	3,365	5,822	28,519	43,045	42,832

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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