ARROWGREEN
Arrow Greentech share price & financials
- Price
- ₹596.5
- Market cap
- ₹1.2k Cr
- Sector
- Capital Goods
What Arrow Greentech Limited does
Arrow Greentech develops, manufactures and markets water-soluble PVA (polyvinyl alcohol) films under the Watersol brand, used for unit-dose packaging of detergents, agrochemicals and dyes, and in healthcare, agriculture, textile and consumer-goods applications. Its High-tech/Security Products business supplies anti-counterfeit security thread, laminates, yarn and brand-protection technologies to paper mills and security-document makers. Through its wholly-owned subsidiary Avery Pharmaceuticals, the company manufactures Mouth Dissolving Strips (MDS) — an oral drug-delivery format built on its water-soluble film technology — at a WHO-GMP-approved facility. The company also monetizes a global patent and trademark portfolio through licensing alongside direct product sales.
Segments
- Green (Water Soluble Films)
- High-tech (Security Products)
- Avery Pharma (MDS)
- Other
- Manufacturing facility
- Ankleshwar, Gujarat (in-house R&D centre, 99-year GIDC lease land)
- Granted patents in force
- 24 (across India, UK, USA, Europe, Sri Lanka, Malaysia)
- Registered trademarks
- 40 (India)
- Pending patent applications
- 10+ Indian, 3 foreign
- Global supply footprint
- 3 supply points (India, UK, South America) serving Europe, Asia, North & South America, Africa
- Subsidiaries
- 4 direct + 2 step-down (India, UK, Netherlands)
Quarterly results
Q1 FY27: revenue up 109.5%, net profit up 145.5% 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 | 65 | 55 | 57 | 42 | 61 −6% | 56 +2% | 42 −26% | 88 +110% |
| EBITDA | 26 | 18 | 16 | 14 | 21 −19% | 19 +6% | 10 −37% | 36 +157% |
| Net profit | 19 | 13 | 11 | 11 | 16 −16% | 13 +0% | 7 −36% | 27 +145% |
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 +43.1% 1Y
1Y: ₹568.15 on 10 Sept 2025 → ₹813. High ₹814.1 (4 Sept 2026), low ₹345.8 (16 Mar 2026).
Financials, as filed
Revenue grew 22.6% a year over 3 years, FY23 to FY26. Operating margin widened to 31.8%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹109 Cr | ₹149 Cr | ₹243 Cr | ₹201 Cr |
| Operating profit | ₹23 Cr | ₹46 Cr | ₹88 Cr | ₹64 Cr |
| Operating margin | 20.7% | 30.9% | 36.2% | 31.8% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹7 Cr | ₹8 Cr | ₹8 Cr | ₹8 Cr |
| Net profit | ₹12 Cr | ₹29 Cr | ₹63 Cr | ₹47 Cr |
| Net margin | 10.8% | 19.5% | 25.9% | 23.4% |
| Cash from operations | ₹3 Cr | ₹18 Cr | ₹68 Cr | ₹43 Cr |
| Free cash flow | ₹-1 Cr | ₹8 Cr | ₹61 Cr | ₹39 Cr |
| ROCE | 21.0% | 35.0% | 53.0% | 30.0% |
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 | ₹14 Cr | ₹14 Cr | ₹15 Cr | ₹15 Cr | ₹15 Cr | ₹15 Cr |
| Reserves | ₹70 Cr | ₹61 Cr | ₹83 Cr | ₹112 Cr | ₹197 Cr | ₹219 Cr |
| Borrowings | ₹5 Cr | ₹5 Cr | ₹3 Cr | ₹1 Cr | ₹3 Cr | ₹2 Cr |
| Other liabilities | ₹9 Cr | ₹9 Cr | ₹20 Cr | ₹17 Cr | ₹22 Cr | ₹19 Cr |
| Total liabilities | ₹99 Cr | ₹89 Cr | ₹121 Cr | ₹145 Cr | ₹236 Cr | ₹256 Cr |
| Fixed assets | ₹26 Cr | ₹28 Cr | ₹37 Cr | ₹37 Cr | ₹39 Cr | ₹37 Cr |
| Capital work in progress | ₹12 Cr | ₹13 Cr | ₹1 Cr | ₹3 Cr | ₹1 Cr | ₹2 Cr |
| Investments | ₹9 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹76 Cr | ₹77 Cr |
| Other assets | ₹53 Cr | ₹46 Cr | ₹83 Cr | ₹104 Cr | ₹120 Cr | ₹141 Cr |
| Total assets | ₹99 Cr | ₹89 Cr | ₹121 Cr | ₹145 Cr | ₹236 Cr | ₹256 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 trimmed −1.68 pp while DIIs added +0.88 pp. The shareholder count shrank 6% to 20,487.
- Promoters
- 65.7%
- FIIs
- 0.2%
- DIIs
- 1.0%
- Public
- 33.2%
Since Jun 2025
- Public −1.68 pp
- DIIs +0.88 pp
- Promoters +0.84 pp
How it drifted, 12 quarters
Over this window promoters fell from 68.6% to 65.7% — −3.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 68.6%, FIIs 0.0%, Public 31.4%.Dec '23: Promoters 68.6%, Public 31.4%.Mar '24: Promoters 68.6%, FIIs 1.3%, Public 30.1%.Jun '24: Promoters 68.6%, FIIs 0.2%, Public 31.2%.Sep '24: Promoters 66.8%, FIIs 0.1%, Public 33.2%.Dec '24: Promoters 64.8%, FIIs 0.6%, Public 34.6%.Mar '25: Promoters 64.8%, FIIs 0.3%, DIIs 0.0%, Public 34.9%.Jun '25: Promoters 64.8%, FIIs 0.3%, DIIs 0.1%, Public 34.8%.Sep '25: Promoters 64.8%, FIIs 0.1%, DIIs 0.7%, Public 34.4%.Dec '25: Promoters 64.8%, FIIs 0.1%, DIIs 0.8%, Public 34.3%.Mar '26: Promoters 64.8%, FIIs 0.1%, DIIs 0.8%, Public 34.3%.Jun '26: Promoters 65.7%, FIIs 0.2%, DIIs 1.0%, Public 33.2%.
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.
- Rishil S Patel +0.82 pp 3.47% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Arrow Greentech Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Shilpan Pravin Patel | 34.73% | unchanged |
| Jigisha Shilpan Patel | 11.25% | unchanged |
| Shilpan P Patel Huf | 6.82% | unchanged |
| Arrow Business Advisory Pvt Ltd | 6.60% | unchanged |
| Rishil S Patel | 3.47% | +0.82 pp |
| Neil S Patel | 2.72% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 1.42% | unchanged |
| Dipak Kanayalal Shah | 1.23% | unchanged |
| Manisha Sindhi | 0.07% | unchanged |
| Ramesh Thakurdas Jaisinghani | — | 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
AttractiveTo justify its price of ₹813, this stock must grow earnings at 13% every year for 7 years. Our analysis caps realistic growth at ~58%. At that growth it is worth ₹7079 — upside of 771%.
- Growth the price implies
- 12.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 58.5% a year
- net profit, FY23–FY26 · EPS 58.1%
- The gap
- -0.5 pp
- 771% downside if it only repeats history
Learn to analyse Arrow Greentech Limited
Guides on how to read this kind of business and the numbers that matter.