Aeron Composites Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹126 Cr
- P/E
- 14.36
- ROE
- 8.32%
- PEG
- 1.45
- Price to sales
- 0.57
- Debt to equity
- 0.53
- 52W high / low
- ₹115 / ₹71.0
- Sales growth (5Y)
- 22.99%
- EBITDA margin
- 8.67%
- Net profit margin
- 3.95%
- Promoter holding
- 73.63%
- Sales (last year)
- ₹222 Cr
Incorporated in 2011, Aeron Composite Ltd manufacture and deals in Fiber Glass Reinforce Plastic Products i.e. Cable Tray, Gratings, ROD, Pole, Structure Profiles, Handrails etc.[1]
Guidance scorecard · Q4 FY26 call
What Aeron Composites Ltd's management guided
and where it ranks in Industrial Products
RevenueQ2 FY26 call
10–20%- The company targets a minimum 15% year-on-year revenue growth, projecting around INR300 crores in FY27.
- Industry is expected to double over the next five years; company aims to grow both through expanding current products and adding new applications, especially in customized FRP products.
- New FRP rebar lines expanding from 2 to 5 lines by end of FY26, each machine expected to generate INR5-7 crores, contributing significantly to revenue.
- Capacity utilization expected to improve in FY27 with the new 22,000-ton capacity, further boosting revenues and margins.
2 more points from Aeron Composites Ltd's call on revenue
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MarginsQ2 FY26 call
FlatSee what Aeron Composites Ltd said on margins — free account, 30 seconds.
CapexQ2 FY26 call
Planned- Aeron Composite is investing in a new plant, shifting from rented premises to its own facility, with a total capex of around INR 110 crores (including IPO proceeds and term loans) to expand capacity and improve operational efficiency.
- The company plans to add five new FRP rebar production lines by March 2026, with a capex of approximately INR 7.5 crores.
- CWIP (Capital Work-In-Progress) as of September 2025 stands around INR 28 crores, contributing to total assets nearing INR 56 crores.
- A pilot carbon fiber unit is planned to be operational in FY 2027, targeting advanced applications like drones and aerospace, subject to necessary approvals and qualifications.
2 more points from Aeron Composites Ltd's call on capex
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FundraisingQ2 FY26 call
PlannedSee what Aeron Composites Ltd said on fundraising — free account, 30 seconds.
Order bookQ2 FY26 call
- Current order book stands at approximately INR 45 crores.
- The order book primarily includes customized pultruded products and other FRP offerings.
- INR 45 crores worth of orders are expected to be executed within FY 2026.
- Visibility in the market is improving with new customers being added steadily as part of the sales pipeline.
2 more points from Aeron Composites Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of Aeron Composites Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Aeron Composites Ltd
Quarterly Results
Quarter-by-quarter operating performance
Financials of Aeron Composites Ltd
Profit & Loss
Annual income statement trend
| Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 45 | 77 | 79 | 108 | 179 | 200 | 215 | 222 |
| Expenses + | 42 | 72 | 73 | 102 | 169 | 184 | 197 | 203 |
| Operating Profit | 3 | 6 | 6 | 6 | 10 | 16 | 18 | 19 |
| OPM % | 7% | 7% | 8% | 6% | 6% | 8% | 8% | 9% |
| Other Income + | 0 | 1 | 0 | 2 | 3 | 2 | 5 | 3 |
| Interest | 1 | 1 | 1 | 1 | 2 | 1 | 2 | 3 |
| Depreciation | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 7 |
| Profit before tax | 2 | 4 | 4 | 5 | 10 | 15 | 18 | 12 |
| Tax % | 30% | 29% | 30% | 28% | 31% | 30% | 27% | 26% |
| Net Profit + | 1 | 3 | 3 | 4 | 7 | 10 | 13 | 9 |
| EPS in Rs | 9.31 | 22.23 | 19.62 | 27.85 | 42.20 | 64.54 | 7.84 | 5.12 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Aeron Composites Ltd
Balance Sheet
Capital structure and asset base
| Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 2 | 2 | 17 | 17 |
| Reserves | 3 | 8 | 11 | 14 | 24 | 34 | 84 | 93 |
| Borrowings + | 7 | 13 | 10 | 13 | 14 | 12 | 45 | 58 |
| Other Liabilities + | 9 | 15 | 21 | 33 | 30 | 54 | 60 | 44 |
| Total Liabilities | 21 | 38 | 44 | 61 | 69 | 101 | 206 | 212 |
| Fixed Assets + | 3 | 9 | 8 | 8 | 9 | 18 | 20 | 77 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 4 | 35 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 18 | 29 | 36 | 53 | 60 | 80 | 152 | 133 |
| Total Assets | 21 | 38 | 44 | 61 | 69 | 101 | 206 | 212 |
Financials of Aeron Composites Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 0 | 6 | 4 | 0 | 2 | 21 | -9 | 6 |
| Cash from Investing Activity + | 0 | -5 | -2 | -2 | -4 | -14 | -34 | -29 |
| Cash from Financing Activity + | -0 | 3 | -4 | 1 | 3 | -4 | 84 | 9 |
| Net Cash Flow | -0 | 3 | -2 | -1 | 1 | 3 | 41 | -14 |
| Free Cash Flow | 0 | 0 | 3 | -1 | -2 | 7 | -45 | -26 |
| CFO/OP | 1% | 106% | 58% | 24% | 41% | 168% | -21% | 50% |
Financials of Aeron Composites Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 73 | 62 | 88 | 70 | 63 | 76 | 77 | 79 |
| Inventory Days | 76 | 61 | 84 | 106 | 56 | 76 | 159 | 111 |
| Days Payable | 76 | 74 | 133 | 135 | 64 | 125 | 152 | 95 |
| Cash Conversion Cycle | 73 | 49 | 39 | 41 | 55 | 27 | 83 | 96 |
| Working Capital Days | 66 | 18 | 31 | 30 | 28 | 25 | 34 | 28 |
| ROCE % | 21% | 24% | 33% | 36% | 21% | 10% |
Continue your research
What Aeron Composites Ltd's management said in earlier quarters
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