Avro India Ltd
Incorporated in 1996, Avro India Ltd manufactures and sells plastic moulded furniture and granules[1]
- Market Cap ₹ 157 Cr.
- Current Price ₹ 118
- High / Low ₹ 231 / 114
- Stock P/E 44.2
- Book Value ₹ 63.9
- Dividend Yield 0.00 %
- ROCE 7.58 %
- ROE 5.37 %
- Face Value ₹ 10.0
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 10.4% over last 3 years.
- Earnings include an other income of Rs.5.45 Cr.
- Debtor days have increased from 89.2 to 110 days.
- Promoter holding has decreased over last 3 years: -16.3%
- Working capital days have increased from 58.2 days to 84.3 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
Standalone Figures in Rs. Crores / View Consolidated
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6.12 | 8.03 | 9.93 | 13.79 | 26.73 | 48.69 | 43.94 | 52.95 | 64.44 | 79.71 | 92.92 | 77.78 | 83.27 | |
| 5.64 | 7.11 | 8.71 | 12.35 | 24.14 | 45.81 | 41.19 | 49.15 | 59.27 | 73.43 | 87.09 | 72.66 | 78.10 | |
| Operating Profit | 0.48 | 0.92 | 1.22 | 1.44 | 2.59 | 2.88 | 2.75 | 3.80 | 5.17 | 6.28 | 5.83 | 5.12 | 5.17 |
| OPM % | 7.84% | 11.46% | 12.29% | 10.44% | 9.69% | 5.91% | 6.26% | 7.18% | 8.02% | 7.88% | 6.27% | 6.58% | 6.21% |
| 0.06 | 0.01 | 0.06 | 0.06 | 0.08 | -0.01 | 0.41 | 0.30 | 0.46 | 2.33 | 4.00 | 4.43 | 5.45 | |
| Interest | 0.22 | 0.37 | 0.44 | 0.39 | 0.30 | 0.22 | 0.30 | 0.26 | 0.42 | 0.96 | 1.41 | 1.61 | 1.65 |
| Depreciation | 0.28 | 0.51 | 0.74 | 0.96 | 1.19 | 1.29 | 1.45 | 1.44 | 1.28 | 1.82 | 2.78 | 3.92 | 4.23 |
| Profit before tax | 0.04 | 0.05 | 0.10 | 0.15 | 1.18 | 1.36 | 1.41 | 2.40 | 3.93 | 5.83 | 5.64 | 4.02 | 4.74 |
| Tax % | 0.00% | 40.00% | 40.00% | 13.33% | 27.97% | 37.50% | 18.44% | 27.50% | 24.17% | 28.64% | 28.37% | 24.38% | |
| 0.05 | 0.04 | 0.06 | 0.14 | 0.85 | 0.85 | 1.14 | 1.75 | 2.98 | 4.15 | 4.04 | 3.04 | 3.44 | |
| EPS in Rs | 1.00 | 0.80 | 1.20 | 2.80 | 1.16 | 0.84 | 1.13 | 1.73 | 2.95 | 4.11 | 4.00 | 2.28 | 2.97 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 25% |
| 5 Years: | 12% |
| 3 Years: | 6% |
| TTM: | -5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 54% |
| 5 Years: | 23% |
| 3 Years: | 2% |
| TTM: | -4% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 55% |
| 3 Years: | 0% |
| 1 Year: | -26% |
| Return on Equity | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 11% |
| 3 Years: | 10% |
| Last Year: | 5% |
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 | 1.58 | 1.58 | 1.58 | 1.58 | 2.37 | 3.25 | 3.25 | 3.25 | 10.09 | 10.09 | 10.09 | 13.31 |
| Reserves | 0.92 | 0.96 | 1.02 | 1.11 | 4.41 | 8.89 | 10.02 | 14.44 | 10.60 | 14.75 | 18.78 | 71.72 |
| 1.65 | 3.68 | 3.90 | 3.92 | 3.33 | 3.42 | 2.60 | 4.15 | 7.68 | 11.58 | 15.62 | 19.90 | |
| 0.65 | 0.55 | 1.54 | 3.54 | 5.60 | 4.50 | 3.79 | 3.05 | 8.94 | 4.57 | 9.96 | 12.49 | |
| Total Liabilities | 4.80 | 6.77 | 8.04 | 10.15 | 15.71 | 20.06 | 19.66 | 24.89 | 37.31 | 40.99 | 54.45 | 117.42 |
| 1.76 | 3.05 | 3.56 | 3.92 | 7.61 | 8.35 | 8.15 | 10.45 | 12.15 | 14.62 | 20.32 | 24.54 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.44 | 0.77 | 3.08 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.14 | 0.37 | 0.78 | 0.36 | 1.05 | 0.97 | 1.55 |
| 3.04 | 3.72 | 4.48 | 6.23 | 8.10 | 11.57 | 11.14 | 13.66 | 24.80 | 24.88 | 32.39 | 88.25 | |
| Total Assets | 4.80 | 6.77 | 8.04 | 10.15 | 15.71 | 20.06 | 19.66 | 24.89 | 37.31 | 40.99 | 54.45 | 117.42 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.16 | 1.37 | 1.94 | 2.51 | -2.05 | 2.24 | 0.07 | -0.58 | 2.82 | 6.06 | -2.30 | ||
| -1.80 | -1.22 | -1.32 | -1.62 | -2.02 | -1.42 | -1.17 | -2.48 | -5.73 | -8.91 | -23.73 | ||
| 1.66 | -0.23 | -0.35 | -0.89 | 4.27 | -1.13 | 1.29 | 3.12 | 3.01 | 2.67 | 55.97 | ||
| Net Cash Flow | 0.02 | -0.08 | 0.27 | 0.01 | 0.20 | -0.31 | 0.19 | 0.06 | 0.10 | -0.18 | 29.94 |
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 | 70.38 | 54.09 | 64.69 | 85.23 | 71.28 | 61.25 | 67.45 | 74.38 | 105.58 | 76.20 | 81.04 | 110.33 |
| Inventory Days | 85.52 | 93.89 | 84.68 | 56.80 | 29.11 | 12.01 | 14.45 | 14.50 | 41.45 | 40.24 | 37.58 | 110.82 |
| Days Payable | 34.38 | 7.93 | 64.32 | 102.61 | 82.48 | 30.24 | 27.80 | 20.08 | 64.92 | 23.10 | 38.68 | 65.47 |
| Cash Conversion Cycle | 121.51 | 140.05 | 85.06 | 39.42 | 17.91 | 43.01 | 54.10 | 68.80 | 82.11 | 93.34 | 79.94 | 155.67 |
| Working Capital Days | 67.99 | 90.91 | 47.42 | 9.00 | 3.55 | 32.38 | 44.28 | 43.91 | 49.28 | 49.68 | 40.66 | 84.28 |
| ROCE % | 8.10% | 8.02% | 8.24% | 17.46% | 14.65% | 10.56% | 13.79% | 17.01% | 20.53% | 17.08% | 7.58% |
Documents
Announcements
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Recycling Of Rigid Plastic By M/S Avro Recycling Limited, Wholly Owned Subsidiary Of M/S Avro India Limited
1 Nov - Avro Recycling (wholly owned) begins separating blended rigid plastics, boosting recycling division; announced 01-11-2025.
-
Commissioning Of Washing Line (Technology For Recycling Of Plastic Scrap)
1 Nov - AVRO India commissioned washing line; commercial production from first week of November 2025, increasing capacity and revenue.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 10 Oct
-
Business Update
1 Oct - Onboarded up to 50 distributors; commissioned 450 MT injection-moulding machine; introduced mixed-polymer upcycling technology.
-
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
1 Oct - 29th AGM (30 Sep 2025): all three resolutions approved — financials adopted, Nikhil Aggarwal reappointed, secretarial auditor appointed.
Annual reports
Concalls
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Mar 2025TranscriptNotesPPT
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Dec 2024TranscriptNotesPPT
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Aug 2023Transcript PPT
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Jun 2023Transcript PPT
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Feb 2023Transcript PPT
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Dec 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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May 2022TranscriptNotesPPT
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May 2022TranscriptNotesPPT
Business Profile[1]
AVRO India Limited specializes in transforming plastic waste into plastic granules and furniture, leveraging advanced recycling technologies. The company has a fully integrated model, processing plastic scrap in-house to produce granules, which are then used for manufacturing furniture. Avro is among the top three manufacturers of plastic furniture in India.