AIROLAM
Airo Lam financials
- Market cap
- ₹128 Cr
- Sector
- Consumer Durables
What Airo Lam limited does
Airo Lam manufactures laminates (including high-pressure and anti-fingerprint laminate), plywood, panels and doors (Airo Door) under the Airolam brand. It sells domestically through company depots, authorized distributors and dealers, and exports its products to markets across Asia, the Middle East, Europe, Africa and the Americas.
Segments
- Laminate
- Plywood
- Panel
- Airo Door
- Dealer network
- 5,000+
- Authorized distributors
- 100+
- Company depots (India)
- 10+
- Export countries
- 16+ (incl. Singapore, Malaysia, USA, UK, Kuwait, Bangladesh, Saudi Arabia, Sri Lanka, Thailand, Qatar, UAE, Syria, Iran, Egypt, Nepal, Vietnam)
- Product categories
- Laminates, Plywood, Panel, Doors
- Years in laminates industry
- 14+
Quarterly results
Q1 FY27: revenue up 27.7%, net profit up 9.7% 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 | 51 | 55 | 57 | 53 | 63 +22% | 70 +27% | 58 +3% | 68 +28% |
| EBITDA | 0 | 4 | 6 | 5 | 6 +12780% | 5 +52% | 4 −42% | 5 +2% |
| Net profit | -3 | 1 | 3 | 1 | 3 +196% | 2 +27% | 1 −83% | 2 +10% |
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 −22.3% 1Y
1Y: ₹108.49 on 10 Sept 2025 → ₹84.25. High ₹114.54 (16 Sept 2025), low ₹78.84 (3 Jun 2026).
Financials, as filed
Revenue grew 8.9% a year over 2 years, FY24 to FY26. Operating margin narrowed to 8.4%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹205 Cr | ₹214 Cr | ₹243 Cr |
| Operating profit | ₹20 Cr | ₹14 Cr | ₹20 Cr |
| Operating margin | 9.6% | 6.7% | 8.4% |
| Interest | ₹5 Cr | ₹7 Cr | ₹9 Cr |
| Depreciation | ₹4 Cr | ₹5 Cr | ₹5 Cr |
| Net profit | ₹8 Cr | ₹4 Cr | ₹6 Cr |
| Net margin | 4.0% | 1.7% | 2.6% |
| Cash from operations | ₹0 Cr | ₹17 Cr | ₹20 Cr |
| Free cash flow | ₹-13 Cr | ₹0 Cr | ₹17 Cr |
| ROCE | 12.0% | 8.0% | 10.0% |
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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹15 Cr | ₹15 Cr | ₹15 Cr | ₹15 Cr | ₹15 Cr | ₹15 Cr |
| Reserves | ₹35 Cr | ₹41 Cr | ₹49 Cr | ₹57 Cr | ₹62 Cr | ₹68 Cr |
| Borrowings | ₹38 Cr | ₹51 Cr | ₹63 Cr | ₹79 Cr | ₹89 Cr | ₹80 Cr |
| Other liabilities | ₹42 Cr | ₹53 Cr | ₹35 Cr | ₹39 Cr | ₹66 Cr | ₹65 Cr |
| Total liabilities | ₹130 Cr | ₹160 Cr | ₹162 Cr | ₹190 Cr | ₹232 Cr | ₹228 Cr |
| Fixed assets | ₹38 Cr | ₹37 Cr | ₹36 Cr | ₹45 Cr | ₹56 Cr | ₹55 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹1 Cr |
| Other assets | ₹92 Cr | ₹122 Cr | ₹126 Cr | ₹145 Cr | ₹176 Cr | ₹172 Cr |
| Total assets | ₹130 Cr | ₹160 Cr | ₹162 Cr | ₹190 Cr | ₹232 Cr | ₹228 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, promoters added +0.27 pp while the public trimmed −0.27 pp. The shareholder count shrank 10% to 4,276.
- Promoters
- 53.4%
- Public
- 46.6%
Since Jun 2025
- Promoters +0.27 pp
- Public −0.27 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 53.0%, Public 47.0%.Dec '23: Promoters 53.0%, Public 47.0%.Mar '24: Promoters 53.0%, Public 47.0%.Jun '24: Promoters 53.0%, Public 47.0%.Sep '24: Promoters 53.0%, Public 47.0%.Dec '24: Promoters 49.5%, Public 50.5%.Mar '25: Promoters 53.1%, Public 46.9%.Jun '25: Promoters 53.1%, Public 46.9%.Sep '25: Promoters 53.1%, Public 46.9%.Dec '25: Promoters 53.4%, Public 46.6%.Mar '26: Promoters 53.4%, Public 46.6%.Jun '26: Promoters 53.4%, Public 46.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Shital Ashishkumar Shah newly disclosed 1.03% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Airo Lam limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Pravinbhai Nathabhai Patel | 8.55% | unchanged |
| Patel Pravinbhai Amichandbhai | 6.58% | unchanged |
| Mahendra Nathabhai Patel | 6.01% | unchanged |
| Jasavantbhai Patel | 5.89% | unchanged |
| Patel Prafulkumar Devachandbhai | 4.87% | unchanged |
| Mamta Daxesh Raval | 3.59% | unchanged |
| Patel Hansrajbhai V Huf . | 3.55% | unchanged |
| Patel Anjanaben M | 2.31% | unchanged |
| Ranchi Finance Co Private Ltd | 1.85% | unchanged |
| Rekha Kejriwal | 1.68% | unchanged |
| Sankhala Piyushkumar Khetabhai | 1.51% | unchanged |
| Dinaben J Patel | 1.50% | 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.
What the price assumes
Growth trapTo justify its price of ₹84, this stock must grow earnings at 14% every year for 7 years. Our analysis caps realistic growth at ~-13%. At that growth it is worth ₹19 — downside of 78%.
- Growth the price implies
- 14.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -13.1% a year
- net profit, FY24–FY26 · EPS -13.2%
- The gap
- 0.3 pp
- -78% downside if it only repeats history
Learn to analyse Airo Lam limited
Guides on how to read this kind of business and the numbers that matter.