ANLON
Anlon Tech financials
- Market cap
- ₹519 Cr
- Sector
- Services
- Calls analysed
- 3
Anlon Tech Q4 FY26
What went well
- Revenue for FY26 increased by 111% year-on-year to INR 105.92 crores.
- Net Profit (PAT) for FY26 grew by 114% year-on-year to INR 13.88 crores.
- EBITDA margin for FY26 improved to 19.60% from 19.55% in FY25.
What to watch
- Management noted they are currently struggling to keep up with market demand due to piled-up requirements from policy shifts, expecting it to take another 15 months to meet.
- Initial Make in India projects were taken at lower blended margins of approximately 15% in Manufacturing & Assembly to gain market share.
What Anlon Tech does
Anlon Technology Solutions designs, assembles and manufactures infrastructure-maintenance and life-safety equipment — firefighting trucks, aerial rescue ladders (turntable ladders), runway rubber/paint removal machines, aircraft recovery kits, baggage handling systems and sweeping machines — used mainly in aviation, urban and petrochemical infrastructure. It operates across three lines: in-house Make-in-India manufacturing & assembly, AMC and after-sales services, and distribution of OEM equipment where it earns a commission. Key global partners include Rosenbauer International AG (Austria) for fire and rescue vehicles and Bucher Municipal (Switzerland) for sewage-cleaning machines. Manufacturing and assembly is carried out at a dedicated facility in Doddaballapura, Bangalore.
Segments
- Manufacturing & Assembly
- AMC & Services
- Distribution Business
- Manufacturing & assembly facility
- Dedicated 14,000 sq ft facility, Doddaballapura Industrial Area, Bangalore
- Business segments
- 3 (Manufacturing & Assembly, AMC & Services, Distribution)
- Engineered product/equipment lines
- 9+ (firefighting trucks, runway rubber/paint removal machines, friction testing machines, aircraft recovery kits, baggage handling systems, side loaders, fire blankets, line laser marking equipment, grass-cutting machines)
- Quality certification
- EN 14043 Conformity Certificate (TÜV SÜD, Germany) for turntable ladder with rescue lift — first Indian manufacturer to receive it
- Key global OEM partners
- Rosenbauer International AG (Austria); Bucher Municipal (Switzerland)
- Manufacturing team experience
- 20+ years
Guidance record · Q4 FY26
what the last two calls moved 12 tracked 5 delivered 0 missed 7 open- FY26 Full Year Revenue delivered said Q2 FY26 Promised: INR 80 crores for FY26. Q4 FY26: Achieved full-year FY26 revenue of INR 105.92 crores, significantly exceeding the INR 80 crore target.
- FY27 Full Year Revenue revised up said Q2 FY26 Promised: INR 104 crores to INR 110 crores (30-35% growth). Q4 FY26: The FY27 target range of INR 104-110 crores was effectively achieved in FY26 (INR 105.92 crores). Management now indicates an order book of INR 120-125 crores to be executed by March '27, implicitly raising the target.
- Make in India Vehicles Order on track said Q4 FY25 Promised: 50 numbers of Make in India vehicles to follow through (60% of coming years orders). Q4 FY26: While the specific vehicle count was not updated, the 'Make in India' strategy has become the core of the business, with Manufacturing & Assembly contributing ~50% of FY26 revenue, far exceeding the spirit of the original promise.
All 12 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q4 FY26: revenue up 282.4%, net profit up 300.0% against the same quarter last year.
| Line item | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13 | 20 | 18 | 17 | 19 +46% | 31 +55% | 41 +128% | 65 +282% |
| EBITDA | 4 | 4 | 3 | 3 | 4 +0% | 6 +50% | 7 +133% | 13 +333% |
| Net profit | 2 | 2 | 2 | 2 | 3 +50% | 4 +100% | 5 +150% | 8 +300% |
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 +46.1% 1Y
1Y: ₹473.5 on 10 Sept 2025 → ₹691.65. High ₹716.7 (17 Jun 2026), low ₹336 (13 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- +0.9%
- 28 May
- Q2 FY26
- +0.8%
- 15 Nov
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.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹0 Cr | ₹6 Cr | ₹6 Cr | ₹6 Cr | ₹6 Cr |
| Reserves | ₹2 Cr | ₹5 Cr | ₹20 Cr | ₹24 Cr | ₹58 Cr | ₹66 Cr |
| Borrowings | ₹2 Cr | ₹6 Cr | ₹3 Cr | ₹3 Cr | ₹10 Cr | ₹12 Cr |
| Other liabilities | ₹11 Cr | ₹10 Cr | ₹6 Cr | ₹11 Cr | ₹18 Cr | ₹24 Cr |
| Total liabilities | ₹16 Cr | ₹21 Cr | ₹34 Cr | ₹44 Cr | ₹92 Cr | ₹109 Cr |
| Fixed assets | ₹2 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr | ₹19 Cr | ₹27 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹5 Cr | ₹7 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹14 Cr | ₹17 Cr | ₹30 Cr | ₹36 Cr | ₹66 Cr | ₹82 Cr |
| Total assets | ₹16 Cr | ₹21 Cr | ₹34 Cr | ₹44 Cr | ₹92 Cr | ₹109 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 Mar 2025, promoters trimmed −10.37 pp while DIIs added +7.94 pp. The shareholder count grew 2% to 1,164.
- Promoters
- 51.7%
- FIIs
- 1.0%
- DIIs
- 12.4%
- Public
- 35.0%
Since Mar 2025
- Promoters −10.37 pp
- DIIs +7.94 pp
- Public +2.31 pp
How it drifted, 9 quarters
Over this window promoters fell from 69.3% to 51.7% — −17.6 pp.
Ownership split by quarter, oldest first. Mar '23: Promoters 69.3%, FIIs 8.0%, Public 22.8%.Sep '23: Promoters 69.3%, FIIs 3.1%, Public 27.7%.Mar '24: Promoters 69.3%, FIIs 3.5%, Public 27.2%.Jun '24: Promoters 62.1%, FIIs 6.3%, DIIs 6.0%, Public 25.6%.Sep '24: Promoters 62.1%, FIIs 4.1%, DIIs 2.0%, Public 31.8%.Mar '25: Promoters 62.1%, FIIs 0.8%, DIIs 4.4%, Public 32.7%.Sep '25: Promoters 62.1%, FIIs 1.1%, DIIs 5.2%, Public 31.7%.Mar '26: Promoters 62.1%, FIIs 1.1%, DIIs 4.1%, Public 32.7%.Jun '26: Promoters 51.7%, FIIs 1.0%, DIIs 12.4%, Public 35.0%.
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.
- Bandhan Small Cap Fund Mutual fund newly disclosed 4.99% held
- Nexus Equity Growth Fund Sch-1 AIF newly disclosed 1.00% held
- Mavira Growth Opportunities Fund AIF +0.75 pp 4.89% held
The same filing shows 2 holders trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Anlon Tech above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| UnniKrishnan Nair PM | 25.81% | −5.18 pp |
| Beena Unnikrishnan | 25.80% | −5.18 pp |
| Bandhan Small Cap Fund Mutual fund | 4.99% | newly disclosed |
| Mavira Growth Opportunities Fund AIF | 4.89% | +0.75 pp |
| Nexus Equity Growth Fund Sch-1 AIF | 1.00% | newly disclosed |
| Rohan Unnikrishnan | 0.03% | unchanged |
| Radhadevi Balachandran Praveen | 0.03% | unchanged |
| Rahul Unnikrishnan | 0.03% | unchanged |
| Samir Jitendra Javeri | — | off the list |
| Rajesh Kumar | — | off the list |
| Passage To India Master Fund Limited FPI fund | — | 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.
What the price assumes
- Growth the price implies
- 13.2% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
All earnings calls (3)
Read the Q4 FY26 call →Learn to analyse Anlon Tech
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