AKI India (AKI) had a P/E of 17.2× on 6 Nov 2026, below the industry P/E of 35.5×, and the shares are 41% below their 52-week high. Sales and net profit grew 15% and 19% a year over 3 years, with ROCE of 4.4% and ROE of 2.3%. Debt is 0.21× equity. It is a small-cap company with a market cap of ₹51 Cr, ranked 21st of 27 Footwear & Accessories companies by market cap; the shares fell 38% over the past year.
- ₹5.00
- ₹5.14
- ₹4.88
- ₹5.00
- 38K
Health check
- ReturnsIn line
−37.7% over a year, better than 3 of 7 peers.
- Price tagCheaper
P/E 17.2 vs industry 35.5.
- GrowthStrong
Sales +15.0%, profit +18.7% a year over 3 years.
- ProfitabilityWeak
ROCE 4.4% vs peer median 15.5%.
- Balance sheetStretched
Debt 0.21× equity, interest covered 2.4×, Piotroski 3 of 9.
- Red flags3 to check
Return on equity is low at 2.3%.
Small cap
Defensive
Key metrics
- Market cap
- ₹51 Cr
- Small cap
- P/E
- 17.2
- Industry 35.5
- Price to book
- 0.65
- Peers 6.00
- Dividend yield
- 0.00%
- ROE
- 2.3%
- Peers 10.9%
- ROCE
- 4.4%
- Peers 15.5%
- Debt to equity
- 0.21
- Debt ₹21 Cr
- EPS (TTM)
- ₹0.29
- Face value ₹2
- OPM (TTM)
- −2.3%
- Net margin 2.6%
- Sales growth
- +64.4%
- Latest quarter vs a year ago
- Profit growth
- +145.9%
- Latest quarter vs a year ago
- Price to sales
- 0.43
- EV/EBITDA 14.9
Strengths and risks
Strengths
- Quarterly profit up 145.9% on a year ago.
- Quarterly sales up 64.4% on a year ago.
- P/E of 17.2 against an industry P/E of 35.5.
Risks to check
- Return on equity is low at 2.3%.
- 41% below its 52-week high.
- Interest coverage of only −2.0×.
About AKI India
AKI India Limited manufactures and trades leather and leather goods in India. It also exports its products. The company was formerly known as AKI India Private Limited and changed its name to AKI India Limited. AKI India Limited was incorporated in 1994 and is based in Kanpur, India.
- Headquarters
- Kanpur
- Sector
- Consumer Cyclical
- ISIN
- INE642Z01026
- Website
- groupaki.com
Price range
- Avg volume (3M)
- 2.7 L
- 1-year return
- minus 37.7%
- From 52-week high
- minus 40.6%
Peers · Footwear & Accessories
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BATAINDIABata India | 638.05 | plus 0.06% | 8,201 | 54.5 | 6.61 | 11.2% | 10.9% | 19.7% | 0.6% | −25.4% | 5.33% | minus 40.2% |
| RELAXORelaxo Footwears | 292.10 | plus 0.21% | 7,271 | 39.2 | 3.29 | – | 8.4% | 9.6% | −0.9% | 5.1% | 1.20% | minus 32.7% |
| SAFARISafari Industries (India) | 1,254.40 | plus 0.39% | 6,146 | 39.7 | 5.14 | 18.6% | 16.2% | 9.6% | 19.1% | 10.3% | 0.32% | minus 40.6% |
| CAMPUSCampus Activewear | 197.99 | minus 1.03% | 6,052 | 39.3 | 6.67 | 20.7% | 18.1% | 45.0% | 6.1% | 8.6% | 0.76% | minus 27.5% |
| REDTAPERedtape | 106.57 | minus 0.91% | 5,891 | 23.2 | 6.00 | 29.5% | 26.6% | 15.1% | 18.3% | 19.2% | 1.88% | minus 21.5% |
| VIPINDVIP Industries | 239.55 | minus 4.31% | 3,403 | – | 16.30 | −50.6% | −74.6% | −14.7% | −3.8% | – | 0.00% | minus 38.4% |
| BILBhartiya International | 1,071.00 | minus 2.74% | 1,436 | 55.8 | 2.91 | 12.4% | 2.9% | 8.9% | 18.9% | −40.1% | 0.00% | plus 29.5% |
| AKIAKI India | 4.99 | minus 0.20% | 51 | 17.2 | 0.65 | 4.4% | 2.3% | −2.3% | 15.0% | 18.7% | 0.00% | minus 37.7% |
| Median of 7 peers | – | −0.91% | 6,052 | 39.5 | 6.00 | 15.5% | 10.9% | 9.6% | 6.1% | 6.9% | 0.76% | −32.7% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 17.7 | 27.5 | 25.6 | 36.6 | 29 | |
| 18.3 | 27.1 | 27.3 | 38 | 29.1 | |
| −0.7 | 0.5 | −1.7 | −1.4 | −0 | |
| −3.8% | 1.6% | −6.6% | −3.8% | −0.1% | |
| 2 | 1.4 | 3.9 | 3.6 | 1.8 | |
| 0.5 | 0.6 | 0.5 | 0.5 | 0.5 | |
| 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | |
| – | – | – | – | −0.1 | |
| 0.3 | 0.8 | 1.2 | 1.1 | 0.7 | |
| 30.9% | 23.4% | 9.6% | 32.6% | −29.5% | |
| 0.2 | 0.8 | 2.4 | 0.8 | 0.5 | |
| 0.02 | 0.06 | 0.11 | 0.07 | 0.05 |
Profit & loss
- Sales CAGR 3Y
- +15.0%
- Profit CAGR 3Y
- +18.7%
- EPS CAGR 3Y
- +9.2%
- ROE
- 2.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 70.3 | 69.5 | 78 | 107 | |
| – | minus 1.0% | +12.2% | +36.8% | |
| 67 | 66.7 | 77.9 | 111 | |
| 3.2 | 2.8 | 0.1 | −3.8 | |
| 4.6% | 4.1% | 0.2% | −3.5% | |
| 1.3 | 2 | 5.1 | 10.3 | |
| 1.6 | 1.7 | 1.6 | 1.9 | |
| 1.9 | 1.9 | 1.8 | 2 | |
| 0.5 | 0.6 | 0.8 | 0.1 | |
| 1.6 | 1.9 | 2.7 | 2.7 | |
| 26.4% | 27.2% | 37.1% | 28.7% | |
| 1.2 | 1.4 | 1.7 | 1.9 | |
| – | +18.3% | +22.7% | +15.3% | |
| 0.15 | 0.16 | 0.19 | 0.19 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 13.4 | 17.2 | 17.7 | 20.6 | |
| 1.6 | 42.6 | 47.4 | 79.7 | |
| 29.5 | 21.8 | 22.4 | 26.8 | |
| 18.8 | 22.6 | 26.8 | 33 | |
| 63.3 | 104 | 114 | 160 | |
| 16.6 | 19.2 | 21 | 23.1 | |
| 4.5 | 7 | 8.8 | 9.5 | |
| 1 | 1 | 1.1 | 1.8 | |
| 1.5 | 1.8 | 2.8 | 4.7 | |
| 39.7 | 75.1 | 80.7 | 121 | |
| 63.3 | 104 | 114 | 160 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −1 | −17.6 | −2.7 | −15.9 | |
| −0.7 | −17.7 | −1.5 | −4.9 | |
| 2 | 35.7 | 5.2 | 22.7 | |
| 0.2 | 0.3 | 1 | 1.9 | |
| −2.3 | −5 | −2.5 | −5.1 | |
| −3.3 | −22.6 | −5.2 | −21 |
Shareholding pattern
- Promoters54.02%
- Public45.98%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 54.02% | 45.98% | plus 0.10 | |
| 30 Jun 2026 | 53.92% | 46.08% | 0.00 | |
| 31 Mar 2026 | 53.92% | 46.08% | 0.00 | |
| 31 Dec 2025 | 53.92% | 46.08% | 0.00 | |
| 30 Sep 2025 | 53.92% | 46.08% | – |
Major shareholders
Filings & events
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