AARTECH
Aartech Solonics financials
- Market cap
- ₹163 Cr
- Sector
- Capital Goods
- Calls analysed
- 2
Aartech Solonics Limited Q1 FY27
What went well
- Total revenue from operations for Q1 FY27 was ₹7.28 crores, a significant increase from ₹4.33 crores in Q1 FY26, representing 68.13% YoY growth.
- Profit Before Tax (PBT) for Q1 FY27 rose to ₹1.19 crores from ₹0.73 crores in Q1 FY26, marking a 63.01% YoY increase.
- The company reported a healthy balance sheet with negligible debt and non-fund-based liabilities, maintaining a cash-rich position.
What to watch
- Conversion of the ₹100 crore inquiry pipeline into firm orders is subject to 'ecosystem changes, including policy changes', potentially stretching project timelines.
- The stock price has not reflected the improved financial performance, a point raised by an analyst.
What Aartech Solonics Limited does
Aartech Solonics designs and manufactures equipment for energy management and power protection, including Control & Relay Panels, Bus Transfer Systems (BTS 2000), Fault Current Limiters and ultracapacitor-based energy storage systems. It serves power generation/T&D, oil & gas, steel, petrochemical, defence, renewable energy, heavy engineering, IT & telecom, healthcare, waste management and transportation customers, supplying both domestic utilities/PSUs and export customers. It also develops defence-grade power modules (AAPM) and is building a dedicated energy-storage manufacturing facility through its wholly owned subsidiary Faradigm Ultracapacitors Pvt Ltd.
Segments
- Control & Relay Panels (CRP)
- Bus Transfer Systems (BTS 2000)
- Ultracapacitor / Energy Storage Systems
- Defence power systems
- Trading business
- Manufacturing units
- 2 operating (Mandideep & Parwanoo) + 1 upcoming (Mohasa-Babai)
- Employees
- 150+
- Product lines
- 10+
- Countries served
- 15+
- Onshore overseas locations
- 2 (UK, USA)
- In-house R&D centre
- A.A.R. Centre for Techno-Preneurship (DSIR-recognized)
Guidance record · Q1 FY27
what the last two calls moved 5 tracked 0 delivered 3 missed 2 open- Total Order Book missed said Q4 FY26 Promised: ₹25 crores by end of June 2026 Q1 FY27: As of June 30, 2026, the order book was reported to be in the range of ₹10-15 crores, with a midpoint of ₹12.5 crores, falling short of the ₹25 crore target.
- Revenue and Margins Health open said Q1 FY27 Promised: expect that the next three quarters are going to be very healthy in terms of revenues and also in terms of margins Q1 FY27: Management guided for 'very healthy' revenues and margins for the next three quarters of FY27.
All 5 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 68.0%, net profit up 146.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9 | 10 | 11 | 4 | 12 +24% | 7 −25% | 17 +65% | 7 +68% |
| EBITDA | 1 | 1 | -2 | -0 | 2 +139% | 2 +115% | 1 +173% | 1 +1089% |
| Net profit | 2 | 2 | -2 | 1 | 2 +42% | 1 −68% | 1 +137% | 2 +146% |
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 −10.2% 1Y
1Y: ₹57.92 on 10 Sept 2025 → ₹51.99. High ₹62.93 (24 Oct 2025), low ₹34.8 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +1.2%
- 17 Aug
- Q4 FY26
- −3.7%
- 28 May
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 11.7% a year over 2 years, FY24 to FY26. Operating margin widened to 14.9%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹33 Cr | ₹36 Cr | ₹41 Cr |
| Operating profit | ₹0 Cr | ₹-0 Cr | ₹6 Cr |
| Operating margin | 1.5% | -0.6% | 14.9% |
| Interest | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Depreciation | ₹0 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹1 Cr | ₹3 Cr | ₹4 Cr |
| Net margin | 4.2% | 7.6% | 9.7% |
| Cash from operations | ₹1 Cr | ₹-2 Cr | ₹-1 Cr |
| Free cash flow | ₹1 Cr | ₹-2 Cr | ₹-1 Cr |
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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹7 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹16 Cr | ₹16 Cr |
| Reserves | ₹18 Cr | ₹17 Cr | ₹18 Cr | ₹19 Cr | ₹18 Cr | ₹19 Cr |
| Borrowings | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹4 Cr | ₹5 Cr | ₹6 Cr |
| Other liabilities | ₹3 Cr | ₹4 Cr | ₹5 Cr | ₹7 Cr | ₹6 Cr | ₹10 Cr |
| Total liabilities | ₹29 Cr | ₹32 Cr | ₹37 Cr | ₹41 Cr | ₹46 Cr | ₹51 Cr |
| Fixed assets | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹4 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹7 Cr | ₹8 Cr | ₹11 Cr | ₹14 Cr | ₹13 Cr | ₹10 Cr |
| Other assets | ₹17 Cr | ₹19 Cr | ₹21 Cr | ₹22 Cr | ₹28 Cr | ₹36 Cr |
| Total assets | ₹29 Cr | ₹32 Cr | ₹37 Cr | ₹41 Cr | ₹46 Cr | ₹51 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, DIIs trimmed −1.38 pp while the public added +1.33 pp. The shareholder count grew 2% to 14,117.
- Promoters
- 52.8%
- FIIs
- 0.0%
- Public
- 47.2%
Since Jun 2025
- DIIs −1.38 pp
- Public +1.33 pp
- Promoters +0.03 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 52.7%, FIIs 0.0%, Public 47.3%.Dec '23: Promoters 52.7%, Public 47.3%.Mar '24: Promoters 52.7%, FIIs 0.0%, DIIs 1.4%, Public 45.9%.Jun '24: Promoters 52.7%, DIIs 1.4%, Public 45.9%.Sep '24: Promoters 52.7%, FIIs 0.0%, DIIs 1.4%, Public 45.9%.Dec '24: Promoters 52.7%, DIIs 1.4%, Public 45.9%.Mar '25: Promoters 52.7%, DIIs 1.7%, Public 45.6%.Jun '25: Promoters 52.7%, DIIs 1.4%, Public 45.9%.Sep '25: Promoters 52.7%, DIIs 0.3%, Public 47.0%.Dec '25: Promoters 52.8%, Public 47.3%.Mar '26: Promoters 52.8%, Public 47.3%.Jun '26: Promoters 52.8%, FIIs 0.0%, Public 47.2%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Aartech Solonics Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Anil Anant Raje | 22.08% | unchanged |
| Amit Anil Raje | 14.84% | unchanged |
| Chhaya Anil Raje | 13.22% | unchanged |
| Kailash Kabra | 5.10% | unchanged |
| Veena Rajesh Shah | 4.72% | unchanged |
| Disha Resources Limited | 3.40% | unchanged |
| Srishti Parth Mehta | 1.56% | unchanged |
| Poonam Jaideep Mulherkar | 1.32% | unchanged |
| Arati Nath | 1.30% | unchanged |
| Parth Kaushik Mehta | 1.28% | unchanged |
| Vineet Khanna | 1.26% | unchanged |
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.
All earnings calls (2)
Read the Q1 FY27 call →Learn to analyse Aartech Solonics Limited
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