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    Aaron Industries Limited

    Surat-based OEM manufacturer of elevator cabins, automatic door systems and cabin safety frames, with an integrated stainless-steel polishing division serving its own elevator line and external clients.

    Capital Goods
    Industrials
    View AARON earnings calls

    Overview

    Price

    Market Cap

    ₹283 Cr

    Sector

    Capital Goods

    Industrials

    Rank

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital510101010102121
    Reserves6261025332328
    Borrowings5791132323228
    Other Liabilities3357781115
    Total Liabilities1922303975838791
    AssetsFixed Assets913151924255655
    CWIP0110273300
    Investments00000000
    Other Assets98141923253136
    Total Assets1922303975838791

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating-01314698
    Cash from Investing-8-1-4-3-5-33-8-2
    Cash from Financing8-112128-1-6
    SummaryCapital Expenditure
    Free Cash Flow-8-0-1-2-1-2816
    FCF Margin

    Valuation

    Assumptions

    Current — AARON
    Price
    ₹122
    EPS (TTM)
    ₹3.24
    PE (TTM)
    37.8
    Profit growth
    7.9%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (82.6×) and current (37.8×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹122
    vs
    Fair value · 15% return
    ₹77
    37%Overvalued

    At 7.9% growth and a 38× exit, ₹122 only delivers your return if you pay ₹77. The price is currently baking in 17% growth.

    EPS grows 7.9%/yr for 5 years, then fades to 6% over 2, exits at 38×.

    YearGrowthEPS (₹)
    FY277.9%3.50
    FY287.9%3.77
    FY297.9%4.07
    FY307.9%4.39
    FY317.9%4.74
    FY327.0% ·fade5.07
    FY336.0% ·fade5.37

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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