AKI India Ltd
Incorporated in 1994, AKI India Ltd designs, manufactures and exports leather products[1]
- Market Cap ₹ 64.8 Cr.
- Current Price ₹ 6.31
- High / Low ₹ 16.2 / 6.00
- Stock P/E 26.8
- Book Value ₹ 9.68
- Dividend Yield 0.00 %
- ROCE 4.60 %
- ROE 1.86 %
- Face Value ₹ 2.00
Pros
- Stock is trading at 0.65 times its book value
- Company is expected to give good quarter
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 3.23% over last 3 years.
- Earnings include an other income of Rs.7.20 Cr.
- Promoter holding has decreased over last 3 years: -18.9%
- Working capital days have increased from 102 days to 146 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 13.86 | 32.97 | 40.23 | 40.94 | 46.05 | 60.90 | 70.23 | 70.91 | 80.96 | 91.81 | |
| 14.12 | 32.65 | 39.26 | 40.04 | 45.03 | 58.57 | 67.32 | 68.57 | 81.11 | 92.30 | |
| Operating Profit | -0.26 | 0.32 | 0.97 | 0.90 | 1.02 | 2.33 | 2.91 | 2.34 | -0.15 | -0.49 |
| OPM % | -1.88% | 0.97% | 2.41% | 2.20% | 2.21% | 3.83% | 4.14% | 3.30% | -0.19% | -0.53% |
| 0.95 | 1.50 | 2.12 | 2.41 | 3.08 | 3.04 | 2.57 | 3.22 | 6.52 | 7.20 | |
| Interest | 0.22 | 1.60 | 1.59 | 1.71 | 1.16 | 1.39 | 2.01 | 1.83 | 1.89 | 2.18 |
| Depreciation | 0.27 | 1.38 | 1.39 | 1.40 | 1.34 | 2.23 | 1.90 | 1.85 | 1.81 | 1.89 |
| Profit before tax | 0.20 | -1.16 | 0.11 | 0.20 | 1.60 | 1.75 | 1.57 | 1.88 | 2.67 | 2.64 |
| Tax % | 50.00% | -6.90% | -54.55% | 45.00% | 30.62% | 5.71% | 26.75% | 27.13% | 37.08% | |
| 0.10 | -1.08 | 0.17 | 0.11 | 1.11 | 1.65 | 1.16 | 1.37 | 1.68 | 1.90 | |
| EPS in Rs | 0.18 | -1.10 | 0.17 | 0.03 | 0.23 | 0.25 | 0.17 | 0.16 | 0.19 | 0.19 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | % |
| 3 Years: | 10% |
| TTM: | 25% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | % |
| 3 Years: | -6% |
| TTM: | 149% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 33% |
| 3 Years: | -32% |
| 1 Year: | -46% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 3% |
| Last Year: | 2% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.87 | 1.50 | 1.50 | 5.00 | 7.50 | 10.30 | 13.39 | 17.15 | 17.71 | 20.64 |
| Reserves | 1.86 | 0.83 | 0.99 | 1.10 | -0.25 | 3.77 | 1.60 | 42.56 | 47.43 | 79.22 |
| 8.27 | 20.71 | 21.84 | 20.89 | 16.48 | 29.43 | 29.51 | 18.07 | 19.34 | 25.99 | |
| 5.14 | 15.00 | 15.35 | 13.07 | 13.13 | 16.99 | 18.75 | 26.33 | 29.88 | 28.03 | |
| Total Liabilities | 16.14 | 38.04 | 39.68 | 40.06 | 36.86 | 60.49 | 63.25 | 104.11 | 114.36 | 153.88 |
| 4.98 | 9.35 | 9.89 | 9.35 | 7.66 | 13.73 | 12.16 | 12.73 | 11.63 | 13.74 | |
| CWIP | 0.23 | 1.11 | 1.87 | 2.00 | 2.00 | 2.51 | 4.47 | 7.00 | 8.77 | 8.78 |
| Investments | 0.45 | 0.04 | 0.04 | 0.04 | 0.04 | 2.48 | 1.03 | 1.03 | 1.14 | 1.03 |
| 10.48 | 27.54 | 27.88 | 28.67 | 27.16 | 41.77 | 45.59 | 83.35 | 92.82 | 130.33 | |
| Total Assets | 16.14 | 38.04 | 39.68 | 40.06 | 36.86 | 60.49 | 63.25 | 104.11 | 114.36 | 153.88 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| 1.27 | -0.69 | 3.20 | 0.76 | -1.05 | -17.62 | -2.67 | |||
| -2.69 | -0.99 | 0.56 | -0.99 | -0.74 | -17.69 | -1.51 | |||
| 1.26 | 1.37 | -4.16 | 0.34 | 1.99 | 35.65 | 5.15 | |||
| Net Cash Flow | -0.17 | -0.31 | -0.41 | 0.11 | 0.20 | 0.34 | 0.97 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 161.43 | 149.56 | 120.85 | 107.97 | 94.72 | 106.26 | 103.32 | 108.56 | 128.90 |
| Inventory Days | 101.68 | 127.63 | 120.29 | 135.69 | 108.28 | 131.86 | 129.33 | 178.61 | 169.55 |
| Days Payable | 155.01 | 185.37 | 153.19 | 136.24 | 110.64 | 124.33 | 118.20 | 135.82 | 124.97 |
| Cash Conversion Cycle | 108.11 | 91.82 | 87.95 | 107.42 | 92.36 | 113.79 | 114.45 | 151.35 | 173.47 |
| Working Capital Days | 127.99 | 118.35 | 97.90 | 125.53 | 102.09 | 30.39 | 30.51 | 130.28 | 146.21 |
| ROCE % | 7.18% | 7.44% | 10.88% | 8.14% | 6.07% | 4.60% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Demise
1 Jan - Mrs. Sameena Asad Iraqi died 30 Dec 2025; held 5,769,782 shares (5.59%), whole-time director.
- Closure of Trading Window 30 Dec
-
Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Receipt Of Leather Working Group (LWG) Gold Certification
4 Dec 2025 - AKI India awarded LWG Gold (Category C) after 17 Oct 2025 audit; valid until 17 Oct 2027.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
17 Nov 2025 - Newspaper Advertisement of extract of Standalone and Consolidated Unaudited Financial results for the Quarter and Half year ended on 30th september 2025
-
Integrated Filing (Financial)
14 Nov 2025 - Unaudited Q2/H1 FY2025 results: consolidated revenue ₹2,892.74L, PBT ₹114.05L, PAT ₹84.88L; EPS ₹0.08; equity ₹2,064.12L.
Business Overview:[1][2]
AKIIL processes hides into finished leather and upholstery, and manufactures leather products such as footwear, horse bridles, browbands, crown pieces, pony articles and saddle girths, etc. It also designs and manufactures leather products for equestrian sports, horse covers, leather bags, belts and finished leather. Company takes technical assistance from Horse Riding Group from Germany for making of Leather Saddlery & Harness Goods