Airfloa Rail Technology (BSE: AIRFLOA) had a P/E of 26.0× on 6 Nov 2026, in line with the industry P/E of 26.0×, and the shares are 18% below their 52-week high. It earns ROCE of 25% and ROE of 22%, and sales and net profit grew 50% and 197% a year over 3 years. Debt is 0.28× equity. It is listed on an SME platform with a market cap of ₹1,162 Cr, ranked 7th of 15 Railroads companies by market cap; the shares rose 29% over the past year.
- ₹475.00
- ₹487.00
- ₹457.05
- ₹474.40
- 59.5K
Health check
- ReturnsAhead
+28.7% over a year, better than 6 of 7 peers.
- Price tagIn line
P/E 26.0 vs industry 26.0.
- GrowthStrong
Sales +49.7%, profit +197.0% a year over 3 years.
- ProfitabilityStrong
ROCE 24.9% vs peer median 10.7%.
- Balance sheetFair
Debt 0.28× equity, interest covered 7.1×, Piotroski 4 of 9.
- Red flags1 to check
Quarterly profit down 12.1% on a year ago.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹1,162 Cr
- Small cap
- P/E
- 26.0
- Industry 26.0
- Price to book
- 4.86
- Peers 2.86
- Dividend yield
- 0.00%
- ROE
- 22.3%
- Peers 8.6%
- ROCE
- 24.9%
- Peers 10.7%
- Debt to equity
- 0.28
- Debt ₹68 Cr
- EPS (TTM)
- ₹18.66
- OPM (TTM)
- 17.6%
- Net margin 12.2%
- Sales growth
- +87.2%
- Latest quarter vs a year ago
- Profit growth
- −12.1%
- Latest quarter vs a year ago
- Price to sales
- 3.63
- EV/EBITDA 18.8
Strengths and risks
Strengths
- Return on equity of 22.3%.
- Return on capital employed of 24.9%.
- Quarterly sales up 87.2% on a year ago.
Risks to check
- Quarterly profit down 12.1% on a year ago.
About Airfloa Rail Technology
Airfloa Rail Technology Limited engages in the design, development, analysis, fabrication, machining, and assembly of composite parts for railway vehicles and transportation. It offers rail car body parts, such as exterior sidewalls, end walls, roofs, end roofs, and nose cones; rail interior parts, including doors, windows, seats, luggage racks and partitions, handrails, flooring paneling, aluminum composites, fiber reinforced plastics (FRP) and…
- Headquarters
- Chennai
- Employees
- 329
- Sector
- Industrials
- ISIN
- INE0XBS01012
- Website
- airflow.co.in
Price range
- Avg volume (3M)
- 1.2 L
- 1-year return
- plus 28.7%
- From 52-week high
- minus 18.3%
Peers · Railroads
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CONCORContainer Corporation of India | 439.80 | minus 0.24% | 33,496 | 27.4 | 15.9 | 12.4% | 14.5% | 0.08 | 4.1% | minus 18.7% |
| TITAGARHTitagarh Rail Systems | 677.85 | minus 1.16% | 9,129 | 48.5 | 27.0 | 8.6% | 9.6% | 0.25 | 4.7% | minus 22.0% |
| JWLJupiter Wagons | 197.94 | minus 0.88% | 8,459 | 52.6 | 23.6 | 9.0% | 9.5% | 0.33 | 12.1% | minus 38.0% |
| TEXRAILTexmaco Rail & Engineering | 104.96 | plus 1.36% | 4,270 | 19.7 | 11.9 | – | 8.9% | 0.37 | 25.1% | minus 23.0% |
| CNCRDConcord Control Systems | 2,764.05 | minus 0.82% | 2,870 | 59.5 | 47.0 | 26.3% | 28.9% | 0.34 | 62.3% | plus 42.3% |
| QUADFUTUREQuadrant Future Tek | 421.95 | minus 0.65% | 1,688 | – | – | −18.6% | −30.6% | 0.10 | −0.3% | plus 26.4% |
| AIRFLOAAirfloa Rail Technology | 484.90 | plus 2.21% | 1,162 | 26.0 | 19.0 | 24.9% | 17.6% | 0.28 | 49.7% | plus 28.7% |
| COSMICCRFCosmic CRF | 906.60 | minus 0.68% | 862 | 16.5 | 12.5 | 14.3% | 8.6% | 0.29 | 80.7% | minus 19.4% |
| Median of 7 peers | – | −0.68% | 4,270 | 38.0 | 19.7 | 10.7% | 9.5% | 0.29 | 12.1% | −19.4% |
Quarterly results
| ₹ Cr | Mar 25 |
|---|---|
| 61.3 | |
| 44.4 | |
| 17 | |
| 27.6% | |
| −0.1 | |
| 2.3 | |
| 0.7 | |
| 0.1 | |
| 14 | |
| 26.6% | |
| 10.3 |
Profit & loss
- Sales CAGR 3Y
- +49.7%
- Profit CAGR 3Y
- +197.0%
- ROE
- 22.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 95.2 | 119 | 192 | 320 | |
| – | +25.4% | +61.3% | +66.1% | |
| 78.6 | 84.1 | 144 | 255 | |
| 16.6 | 35.3 | 48.3 | 64.2 | |
| 17.4% | 29.5% | 25.1% | 20.1% | |
| −1.9 | −0.7 | 0.3 | 0.5 | |
| 9.2 | 11.1 | 11.1 | 8.6 | |
| 3.1 | 2.9 | 2.5 | 3.5 | |
| −0 | −0 | 0 | – | |
| 2.3 | 20.6 | 35 | 52.7 | |
| 36.3% | 30.9% | 26.3% | 25.7% | |
| 1.5 | 14.2 | 25.8 | 39.1 | |
| – | +852.9% | +81.1% | +51.9% | |
| 0.62 | 5.94 | 10.75 | – |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5 | 5 | 17.5 | 24 | |
| 36.8 | 51 | 93.7 | 215 | |
| 60.2 | 63.8 | 60 | 68.3 | |
| 61.9 | 82.2 | 85.8 | 95.2 | |
| 164 | 202 | 257 | 403 | |
| 40.9 | 34.9 | 36.8 | 42 | |
| 5.2 | 1.3 | – | 1.8 | |
| – | 0.4 | 0.2 | – | |
| 1.1 | 0.2 | 3.9 | 13.1 | |
| 117 | 165 | 216 | 346 | |
| 164 | 202 | 257 | 403 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 10.1 | 3.5 | −16.9 | −57.5 | |
| 2.6 | 3.2 | −5.6 | −21.8 | |
| −20.6 | −7.5 | 24.3 | 88.5 | |
| −8 | −0.8 | 1.8 | 9.2 | |
| −2.1 | −0.9 | −5.7 | −17.2 | |
| 8 | 2.6 | −22.6 | −74.6 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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