539151

Arfin India share price & financials

Price
₹85.48
Market cap
₹1.5k Cr
Sector
Metals & Mining

What Arfin India does

Arfin India manufactures aluminium and ferro alloy products - aluminium wire rods, aluminium deoxidizers, cored wire, master and ferro alloys, aluminium alloy ingots, ferro titanium, inoculants, and conductors & cables - which are used as inputs by steel, automobile and power sector customers. It runs a cluster of manufacturing units around Chhatral, Gandhinagar (Gujarat) and sells to domestic groups such as Tata Steel, JSW, JSPL and AMNS as well as export customers including JFE, Qatar Steels, Honda Trading and Mitsui & Co. In FY2024 the company brought in JFE Shoji India (Japan) as a strategic investor and exclusive distributor for its wire rod and deox product lines.

Segments

  • Aluminium & Ferro Alloys
Installed manufacturing capacity
71,000 MTPA
Manufacturing plants
4 plants (Main Plant, Dhanot Plant, Vadaswami Plant + dedicated Conductor unit), all clustered around Chhatral, Gandhinagar, Gujarat
Product lines
8 (wire rods, deox, cored wire, ferro alloys, alloy ingots, ferro titanium, inoculants, conductors & cables)
Domestic market presence
16 states (incl. Gujarat, Maharashtra, Odisha, MP, Jharkhand, Chhattisgarh, Karnataka, Punjab, Tamil Nadu, UP, Uttarakhand, West Bengal, Haryana, Rajasthan, Delhi, Dadra & Nagar Haveli)
Export markets
5 countries - Japan, Vietnam, Saudi Arabia, Indonesia, Canada
Marquee clientele
Tata Steel, JSW, JSPL, AMNS, JFE, Qatar Steels, Honda Trading, Mitsui & Co., SABIC, Jindal Shadeed
Founded 1992Headquarters Chhatral, Gandhinagar, Gujarat, India Company website

Quarterly results

Q1 FY27: revenue up 91.2%, net profit up 246.1% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue149 180 153 109 128 −14%196 +9%192 +25%208 +91%
EBITDA10 11 7 7 9 −9%14 +24%14 +119%9 +43%
Net profit3 3 1 1 2 −21%5 +59%6 +957%4 +246%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +107.6% 1Y

₹40₹60₹80₹100Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹41.57 on 10 Sept 2025 → ₹86.28. High ₹99.43 (18 Jun 2026), low ₹41.57 (10 Sept 2025).

Financials, as filed

Revenue grew 8.1% a year over 2 years, FY24 to FY26. Operating margin widened to 6.9%.

Year endingFY24FY25FY26
Revenue₹535 Cr₹616 Cr₹625 Cr
Operating profit₹30 Cr₹36 Cr₹43 Cr
Operating margin5.6%5.9%6.9%
Interest₹19 Cr₹20 Cr₹19 Cr
Depreciation₹4 Cr₹4 Cr₹5 Cr
Net profit₹8 Cr₹9 Cr₹14 Cr
Net margin1.5%1.5%2.2%
Cash from operations₹5 Cr₹-21 Cr₹30 Cr
Free cash flow₹1 Cr₹-27 Cr₹19 Cr
ROCE14.0%14.0%14.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹16 Cr₹16 Cr₹16 Cr₹16 Cr₹17 Cr₹17 Cr
Reserves₹52 Cr₹62 Cr₹72 Cr₹80 Cr₹143 Cr₹152 Cr
Borrowings₹109 Cr₹112 Cr₹112 Cr₹120 Cr₹149 Cr₹129 Cr
Other liabilities₹53 Cr₹58 Cr₹67 Cr₹69 Cr₹58 Cr₹71 Cr
Total liabilities₹230 Cr₹247 Cr₹267 Cr₹285 Cr₹367 Cr₹369 Cr
Fixed assets₹61 Cr₹62 Cr₹65 Cr₹66 Cr₹70 Cr₹74 Cr
Capital work in progress₹0 Cr₹0 Cr₹1 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹8 Cr
Other assets₹168 Cr₹185 Cr₹201 Cr₹220 Cr₹296 Cr₹287 Cr
Total assets₹230 Cr₹247 Cr₹267 Cr₹285 Cr₹367 Cr₹369 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +1.64 pp while FIIs trimmed −1.62 pp. The shareholder count grew 49% to 13,548.

Promoters
69.8%
FIIs
0.8%
Government
0.0%
Public
29.4%

Since Jun 2025

  • Public +1.64 pp
  • FIIs −1.62 pp
  • Promoters −0.02 pp

How it drifted, 12 quarters

Over this window the public went from 24.9% to 29.4% — +4.5 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 74.1%, FIIs 0.9%, Government 0.1%, Public 24.9%.Dec '23: Promoters 74.1%, FIIs 2.6%, Government 0.1%, Public 23.3%.Mar '24: Promoters 74.1%, FIIs 2.6%, Government 0.1%, Public 23.3%.Jun '24: Promoters 69.8%, FIIs 2.4%, Government 0.1%, Public 27.7%.Sep '24: Promoters 69.8%, FIIs 2.4%, Government 0.1%, Public 27.7%.Dec '24: Promoters 69.8%, FIIs 2.4%, Government 0.2%, Public 27.6%.Mar '25: Promoters 69.8%, FIIs 2.4%, Government 0.2%, Public 27.6%.Jun '25: Promoters 69.8%, FIIs 2.4%, Government 0.0%, Public 27.8%.Sep '25: Promoters 69.8%, FIIs 2.6%, Government 0.0%, Public 27.5%.Dec '25: Promoters 69.8%, FIIs 2.7%, Government 0.0%, Public 27.5%.Mar '26: Promoters 69.8%, FIIs 1.5%, Government 0.0%, Public 28.6%.Jun '26: Promoters 69.8%, FIIs 0.8%, Government 0.0%, Public 29.4%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Arfin India above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Mahendrakumar Rikhavchand Shah 15.19%unchanged
Jatin Mahendrakumar Shah 14.91%unchanged
Pushpaben Mahendrakumar Shah 12.80%unchanged
Rani Jatin Shah 12.64%unchanged
Jfe Shoji India Private Limited 5.81%unchanged
Pooja Mahendrabhai Shah 4.76%unchanged
Jatin Mahendra Shah 3.85%unchanged
Krish Jatin Shah 2.13%unchanged
Mahendrakumar Rikhavchand Huf 1.93%unchanged
Khushbu Mahendrabhai Shah 1.02%unchanged
Khwaish Jatin Shah 0.53%unchanged
Sunil Kishinchand Chellani —off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Learn to analyse Arfin India

Guides on how to read this kind of business and the numbers that matter.