Aartech Solonics Limited
NSE: AARTECH · Heavy Electrical Equipment · sector
₹42.89NSE close 2026-10-26
Key numbers
Market cap₹136 cr
Price₹42.89
52w high / low₹65 / ₹34
P/E27.9xSector median 27.8x
P/B3.9xSector median 5.4x
Book value₹11.1
Dividend yield0.29%Sector median 0.19%
ROE15.1%Sector median 18.8%
ROCE20.1%Sector median 21.4%
OPM16.3%Sector median 15.1%
Debt / equity0.16xSector median 0.09x
EV/EBITDA18.1xSector median 21.4x
Interest cover10.9x
Current ratio2.85x
Sales growth 3y–Sector median +22.1%
Profit growth 3y–Sector median +27.5%
PEG0.32x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 43 companies in Heavy Electrical Equipment (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹12 cr vs borrowings ₹6 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 10.9x in the last 12 months.
- Operating cash flow was below net profit in 2 of the last 3 years (FY26, FY25).
- Net loss in 1 of the last 8 quarters.
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Other income was 31% of net profit in the last 12 months.
- Debtor days went from 106 (FY24) to 146 (FY26).
- Dividend paid in 3 of the last 3 financial years.
- Price ₹42.89 on 2026-10-26: -33.8% from the 52-week high, +28.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹91.05 · low ₹36.64
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9 | 10 | 11 | 4 | 12 | 7 | 17 | 7 |
| EBITDA | 1 | 1 | -2 | -0 | 2 | 1 | 3 | 1 |
| OPM % | 10.6% | 11.1% | -18.9% | -1.8% | 20.8% | 15.3% | 15.5% | 12.2% |
| Other income | 1 | 1 | -1 | 1 | 0 | 0 | -1 | 2 |
| Net profit | 2 | 2 | -2 | 1 | 2 | 1 | 1 | 2 |
| EPS (₹) | 0.47 | 0.58 | -0.51 | 0.20 | 0.68 | 0.18 | 0.19 | 0.49 |
| Revenue YoY | +24.3% | -24.5% | +65.5% | +68.0% | ||||
| Profit YoY | +43.0% | -67.4% | – | +63.5% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|
| Revenue | 33 | 36 | 41 | 44 |
| EBITDA | 0 | -0 | 6 | 7 |
| Net profit | 1 | 3 | 4 | 5 |
| EPS (₹) | 0.41 | 0.87 | 1.25 | 1.54 |
| Revenue growth | +11.0% | +12.5% | +28.6% | |
| Profit growth | +110.0% | +48.4% | +89.4% | |
| Dividend / share (₹) | 0.50 | 0.25 | 0.12 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | – | – | +28.6% |
| Net profit | – | – | +89.4% |
| EPS | – | – | – |
| Share price | – | -13.9% (2y) | -22.2% |
Balance sheet
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Shareholders' equity | 30 | 31 | 35 |
| Borrowings | 4 | 6 | 6 |
| Cash & equivalents | 11 | 14 | 12 |
| Total assets | 41 | 43 | 51 |
| Fixed assets | 5 | 5 | 4 |
| Capital work in progress | 0 | 0 | 0 |
| Investments | 5 | 1 | 1 |
| Receivables | 9 | 6 | 16 |
| Inventory | 8 | 11 | 11 |
| Payables | 6 | 4 | 7 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Cash from operations | 1 | -2 | -1 |
| Cash from investing | -1 | 1 | 3 |
| Cash from financing | 0 | 0 | -1 |
| Capex | 0 | 0 | 0 |
| Free cash flow | 1 | -2 | -1 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| ROE % | 4.4% | 8.7% | 11.5% |
| ROCE % | 9.4% | 6.1% | 17.0% |
| Debtor days | 106 | 59 | 146 |
| Inventory days | 132 | 223 | 176 |
| Payable days | 94 | 86 | 108 |
| Cash conversion cycle (days) | 144 | 196 | 214 |
| Working capital days | 211 | 234 | 247 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 52.75% |
| FIIs | 0.04% |
| Public (non-institutions) | 47.21% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 52.72% | 52.72% | 52.72% | 52.72% | 52.75% | 52.75% | 52.75% | 52.75% |
| Promoter group | % |
|---|---|
| Anil Anant Raje | 22.08% |
| Amit Anil Raje | 14.84% |
| Chhaya Anil Raje | 13.22% |
| Poonam Jaideep Mulherkar | 1.32% |
| Arati Nath | 1.30% |
| Public holders above 1% | % |
|---|---|
| Veena Rajesh Shah | 4.23% |
| Disha Resources Limited | 3.40% |
| Vineet Khanna | 2.36% |
| Srishti Parth Mehta | 1.56% |
| Kailash Kabra | 1.46% |
| Parth Kaushik Mehta | 1.28% |
14,000 shareholders. Pledged: – of promoter shares.
Peers in Heavy Electrical Equipment
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BHEL | ₹1,37,384 cr | 47.7x | 5.1x | 11.2% | 13.5% | 10.1% | +13.1% | 0.12% |
| ABB | ₹1,34,715 cr | 45.1x | 14.4x | 36.1% | 22.4% | 14.0% | – | – |
| CGPOWER | ₹1,31,237 cr | 104.9x | 16.5x | 16.5% | 21.3% | 12.5% | +30.7% | 0.16% |
| POWERINDIA | ₹1,19,751 cr | 104.0x | 23.1x | 24.5% | 29.9% | 14.9% | +22.2% | 0.02% |
| SIEMENS | ₹1,16,725 cr | 35.6x | 8.4x | 25.0% | 14.2% | 10.0% | +41.0% | 0.37% |
| ENRIN | ₹98,074 cr | 65.9x | 20.4x | 34.3% | 42.0% | 20.9% | – | 0.14% |
| GVT&D | ₹97,043 cr | 74.3x | 36.1x | 58.5% | 65.5% | 25.2% | +30.8% | 0.13% |
| SUZLON | ₹51,051 cr | 16.3x | 5.4x | 40.4% | 29.2% | 17.7% | +41.0% | – |
| THERMAX | ₹35,902 cr | 60.5x | 6.5x | 11.3% | 12.5% | 8.6% | +9.8% | 0.44% |
| AARTECH | ₹136 cr | 27.9x | 3.9x | 15.1% | 20.1% | 16.3% | – | 0.29% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-22 | Dividend | Dividend - Re 0.125 Per Share |
| 2025-09-23 | Dividend | Dividend - Re 0.125 Per Share |
| 2024-09-23 | Dividend | Annual General Meeting/Dividend - Rs 0.25 Per Share |
| 2024-08-09 | Bonus | Bonus 1:2 |
| 2024-08-09 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share |
| 2023-09-22 | Other | Annual General Meeting |
| 2023-09-22 | Dividend | Dividend - Rs 0.50 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Heavy Electrical Equipment |
| Sub-industry | Heavy Electrical Equipment |
| Symbol | AARTECH |
| BSE code | 542580 |
| ISIN | INE01C001026 |
| Face value | ₹5.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.