Aro Granite Industries Ltd
Incorporated in 1988, ARO Granite Industries Ltd manufactures and trades Granite Slabs and Tiles[1]
- Market Cap ₹ 43.9 Cr.
- Current Price ₹ 28.7
- High / Low ₹ 45.8 / 26.2
- Stock P/E
- Book Value ₹ 120
- Dividend Yield 0.00 %
- ROCE 1.68 %
- ROE -3.36 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Stock is trading at 0.24 times its book value
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -7.09% over past five years.
- Company has a low return on equity of -1.89% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.14.5 Cr.
* 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
Consumer Discretionary Consumer Durables Consumer Durables Granites & Marbles
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 250.51 | 252.55 | 213.30 | 236.79 | 198.96 | 171.34 | 177.18 | 178.68 | 223.96 | 163.41 | 154.19 | 122.66 | 88.81 | |
| 216.26 | 223.86 | 193.33 | 207.44 | 186.42 | 147.56 | 158.65 | 154.88 | 193.88 | 144.36 | 123.33 | 116.29 | 83.81 | |
| Operating Profit | 34.25 | 28.69 | 19.97 | 29.35 | 12.54 | 23.78 | 18.53 | 23.80 | 30.08 | 19.05 | 30.86 | 6.37 | 5.00 |
| OPM % | 13.67% | 11.36% | 9.36% | 12.39% | 6.30% | 13.88% | 10.46% | 13.32% | 13.43% | 11.66% | 20.01% | 5.19% | 5.63% |
| 4.62 | 5.11 | 1.15 | 1.33 | 1.25 | 2.08 | 3.15 | 0.63 | 1.36 | 0.55 | 0.38 | 9.59 | 14.48 | |
| Interest | 5.34 | 6.25 | 5.22 | 5.20 | 3.85 | 5.07 | 5.98 | 5.38 | 7.93 | 12.78 | 16.11 | 12.87 | 14.80 |
| Depreciation | 5.16 | 8.59 | 9.12 | 9.10 | 8.65 | 8.25 | 10.53 | 11.07 | 12.74 | 12.73 | 11.72 | 9.94 | 9.80 |
| Profit before tax | 28.37 | 18.96 | 6.78 | 16.38 | 1.29 | 12.54 | 5.17 | 7.98 | 10.77 | -5.91 | 3.41 | -6.85 | -5.12 |
| Tax % | 25.66% | 11.97% | 13.57% | 22.95% | 8.53% | 22.49% | 30.37% | 24.19% | 17.36% | -2.03% | 61.29% | -6.28% | |
| 21.09 | 16.69 | 5.86 | 12.62 | 1.17 | 9.72 | 3.61 | 6.05 | 8.91 | -5.79 | 1.31 | -6.42 | -5.38 | |
| EPS in Rs | 13.78 | 10.91 | 3.83 | 8.25 | 0.76 | 6.35 | 2.36 | 3.95 | 5.82 | -3.78 | 0.86 | -4.20 | -3.52 |
| Dividend Payout % | 7.25% | 9.17% | 26.11% | 12.12% | 0.00% | 15.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -7% |
| 5 Years: | -7% |
| 3 Years: | -18% |
| TTM: | -31% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 12% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -3% |
| 5 Years: | -8% |
| 3 Years: | -13% |
| 1 Year: | -27% |
| Return on Equity | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 0% |
| 3 Years: | -2% |
| Last Year: | -3% |
Balance Sheet
Figures in Rs. Crores
| 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 | 15.30 | 15.30 | 15.30 | 15.30 | 15.30 | 15.30 | 15.30 | 15.30 | 15.30 | 15.30 | 15.30 | 15.30 | 15.30 |
| Reserves | 126.62 | 139.39 | 143.36 | 154.17 | 155.30 | 164.92 | 166.19 | 172.34 | 181.12 | 175.31 | 176.72 | 170.56 | 168.01 |
| 109.19 | 118.92 | 115.35 | 101.78 | 92.57 | 128.83 | 158.92 | 168.43 | 199.30 | 205.02 | 188.75 | 159.65 | 148.21 | |
| 40.82 | 36.18 | 35.24 | 37.05 | 40.52 | 34.44 | 54.14 | 48.43 | 55.66 | 54.75 | 63.82 | 74.24 | 71.61 | |
| Total Liabilities | 291.93 | 309.79 | 309.25 | 308.30 | 303.69 | 343.49 | 394.55 | 404.50 | 451.38 | 450.38 | 444.59 | 419.75 | 403.13 |
| 83.57 | 73.69 | 72.55 | 90.56 | 89.78 | 89.94 | 139.30 | 174.43 | 162.67 | 160.16 | 148.73 | 139.10 | 134.23 | |
| CWIP | 0.00 | 6.97 | 20.66 | 2.46 | 5.55 | 22.69 | 41.55 | 0.98 | 7.81 | 0.98 | 0.98 | 1.04 | 1.04 |
| Investments | 0.02 | 0.02 | 0.02 | 0.02 | 0.90 | 0.81 | 0.85 | 0.87 | 1.14 | 1.10 | 0.84 | 0.88 | 0.77 |
| 208.34 | 229.11 | 216.02 | 215.26 | 207.46 | 230.05 | 212.85 | 228.22 | 279.76 | 288.14 | 294.04 | 278.73 | 267.09 | |
| Total Assets | 291.93 | 309.79 | 309.25 | 308.30 | 303.69 | 343.49 | 394.55 | 404.50 | 451.38 | 450.38 | 444.59 | 419.75 | 403.13 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -0.85 | 0.25 | 21.02 | 16.28 | 22.19 | -3.17 | 62.94 | 0.65 | -18.15 | 13.96 | 35.03 | 33.01 | |
| 0.70 | -3.69 | -24.24 | -6.58 | -10.75 | -26.31 | -77.73 | -3.94 | -6.19 | -3.03 | 0.04 | 0.22 | |
| 12.66 | 7.95 | -5.41 | -15.41 | -11.05 | 31.80 | 11.74 | 2.70 | 23.94 | -14.53 | -32.35 | -33.53 | |
| Net Cash Flow | 12.51 | 4.51 | -8.63 | -5.71 | 0.40 | 2.31 | -3.05 | -0.60 | -0.40 | -3.60 | 2.73 | -0.30 |
Ratios
Figures in Rs. Crores
| 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 | 128.52 | 122.27 | 138.28 | 126.82 | 128.38 | 122.21 | 121.17 | 130.78 | 119.10 | 137.46 | 117.37 | 103.61 |
| Inventory Days | 215.70 | 258.12 | 306.06 | 373.07 | 412.57 | 621.29 | 725.06 | 759.02 | 792.82 | 1,299.40 | 1,623.36 | 1,342.03 |
| Days Payable | 50.54 | 43.02 | 48.81 | 53.66 | 87.87 | 79.14 | 158.23 | 150.34 | 148.14 | 232.82 | 305.95 | 306.99 |
| Cash Conversion Cycle | 293.69 | 337.37 | 395.53 | 446.22 | 453.08 | 664.36 | 688.00 | 739.46 | 763.79 | 1,204.04 | 1,434.78 | 1,138.66 |
| Working Capital Days | 77.48 | 104.85 | 130.55 | 127.94 | 139.02 | 117.72 | 68.19 | 114.70 | 151.22 | 210.25 | 220.03 | 232.11 |
| ROCE % | 11.03% | 9.69% | 4.39% | 7.92% | 1.92% | 6.15% | 3.43% | 3.84% | 4.97% | 1.74% | 5.03% | 1.68% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Newspaper Publication for dispatch of Notice of Postal Ballot
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 18 Feb
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Announcement under Regulation 30 (LODR)-Newspaper Publication
6 Feb - Newspaper advertisement in respect of Published Financial Results for the quarter ended December 31, 2025.
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Announcement under Regulation 30 (LODR)-Change in Management
4 Feb - Audited results to 31 Dec 2025: Qtr loss Rs297.43L; 9M loss Rs541.03L; appointed independent director Feb 4, 2026.
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Board Meeting Outcome for Outcome Of The Board Meeting Held On 04Th February, 2026
4 Feb - Approved audited results (31 Dec 2025): Q loss Rs297.43L, 9M loss Rs541.03L; appointed Varathan Arul as independent director.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Nov 2024TranscriptAI SummaryPPT
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Jun 2023Transcript PPT
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May 2022Transcript PPT
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Nov 2021Transcript PPT
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Jul 2021Transcript PPT
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Nov 2020Transcript PPT
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Jul 2020Transcript PPT
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Nov 2019Transcript PPT
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May 2019Transcript PPT
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Nov 2018Transcript PPT
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May 2018Transcript PPT
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Nov 2017Transcript PPT
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May 2017TranscriptPPT
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Jan 2017TranscriptAI SummaryPPT
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Oct 2016Transcript PPT
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Jul 2016Transcript PPT
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Mar 2016TranscriptAI SummaryPPT
Business Overview:[1]
Company processes and exports Polished / Flamed Granite Tiles & Slabs in its 100 % export-oriented unit in Hosur and an SEZ unit in Jaipur. It sources 100+ shades of granites and quartzite from India, Bazil, Norway, Finland, Africa and Ukraine, enhances and then sells them