As of 6 Nov 2026, Arfin India trades at 86.4× trailing earnings, above the industry P/E of 17.0×, and the shares are 17% below their 52-week high. It earns ROCE of 21% and ROE of 9.4%, and sales and net profit grew 4.3% and 14% a year over 3 years. Its dividend yield is 0.3%, and debt is 0.76× equity. It is a small-cap company with a market cap of ₹1,589 Cr, ranked 5th of 22 Aluminum companies by market cap; the shares rose 75% over the past year.
- ₹95.00
- ₹96.90
- ₹92.15
- ₹95.32
- 10.9 L
Health check
- ReturnsAhead
+74.7% over a year, better than 7 of 7 peers.
- Price tagPricier
P/E 86.4 vs industry 17.0.
- GrowthSteady
Sales +4.3%, profit +14.4% a year over 3 years.
- ProfitabilityStrong
ROCE 20.8% vs peer median 12.9%.
- Balance sheetFair
Debt 0.76× equity, interest covered 2.4×, Piotroski 7 of 9.
- Red flags2 to check
P/E of 86.4 against an industry P/E of 17.0.
Small cap
Defensive
Key metrics
- Market cap
- ₹1,589 Cr
- Small cap
- P/E
- 86.4
- Industry 17.0
- Price to book
- 9.33
- Peers 2.40
- Dividend yield
- 0.26%
- ROE
- 9.4%
- Peers 10.3%
- ROCE
- 20.8%
- Peers 12.9%
- Debt to equity
- 0.76
- Debt ₹129 Cr
- EPS (TTM)
- ₹1.09
- Face value ₹1
- OPM (TTM)
- 6.9%
- Net margin 2.6%
- Sales growth
- +95.5%
- Latest quarter vs a year ago
- Profit growth
- +276.9%
- Latest quarter vs a year ago
- Price to sales
- 2.20
- EV/EBITDA 35.1
Strengths and risks
Strengths
- Return on capital employed of 20.8%.
- Quarterly profit up 276.9% on a year ago.
- Quarterly sales up 95.5% on a year ago.
Risks to check
- P/E of 86.4 against an industry P/E of 17.0.
- Interest coverage of only 3.0×.
About Arfin India
Arfin India Limited manufactures and trades in ferrous and non-ferrous metals in India. Its products include conductor and cables, aluminum wire rods, cored wire, ferro alloys, inoculant, aluminum deox, and aluminum alloys ingots. It serves electrical transmission and distribution, steel, foundry, construction, packaging, and infrastructure industries. The company also exports its products. Arfin India Limited was incorporated in 1992 and is based in…
- Headquarters
- Gandhinagar
- Employees
- 203
- Sector
- Basic Materials
- ISIN
- INE784R01023
- Website
- arfin.co.in
Price range
- Avg volume (3M)
- 24.6 L
- 1-year return
- plus 74.7%
- From 52-week high
- minus 17.3%
Peers · Aluminum
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HINDALCOHindalco Industries | 958.40 | plus 2.19% | 2,12,749 | 11.1 | 9.4 | 9.4% | 9.0% | 0.73 | 7.1% | plus 12.8% |
| VAMLVedanta Aluminium Metal | 376.05 | minus 0.80% | 1,46,816 | 22.2 | – | – | 41.3% | 1.05 | – | minus 24.2% |
| NATIONALUMNational Aluminium Co. | 325.75 | minus 1.59% | 59,828 | 8.4 | 6.5 | 33.3% | 43.8% | 0.00 | 7.8% | plus 41.9% |
| CMRGREENCMR Green Technologies | 218.29 | plus 2.16% | 4,782 | 17.8 | 13.0 | 19.8% | 4.5% | 0.83 | 17.4% | minus 9.5% |
| ARFINArfin India | 94.15 | minus 1.23% | 1,589 | 86.4 | 33.6 | 20.8% | 6.9% | 0.76 | 4.3% | plus 74.7% |
| BELDINGBelding India | 820.05 | minus 2.76% | 1,187 | – | – | 0.3% | −1377.7% | 0.04 | −89.7% | minus 10.8% |
| MMPMMP Industries | 427.35 | plus 0.66% | 1,086 | 21.7 | 19.4 | 12.9% | 8.4% | 0.53 | 15.2% | plus 50.9% |
| MAANALUMaan Aluminium | 101.80 | minus 2.92% | 611 | 42.4 | – | – | 2.5% | 0.20 | – | minus 28.4% |
| Median of 7 peers | – | −0.80% | 4,782 | 19.7 | 11.2 | 12.9% | 8.4% | 0.53 | 7.8% | −9.5% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 109 | 128 | 188 | 193 | 213 | |
| 102 | 119 | 174 | 177 | 203 | |
| 6.6 | 9.3 | 13.9 | 16.3 | 10.2 | |
| 6.1% | 7.3% | 7.4% | 8.5% | 4.8% | |
| 0.5 | 0.5 | 0.2 | −0.2 | 0.2 | |
| 4.5 | 5.1 | 5.2 | 3.9 | 4.5 | |
| 1.1 | 1.1 | 1.1 | 1.3 | 1.2 | |
| 1.4 | 3.7 | 7.8 | 10.8 | 4.6 | |
| 25.1% | 33.2% | 34.4% | 37.0% | 12.2% | |
| 1.1 | 2.5 | 5.1 | 6.8 | 4.1 | |
| 0.06 | 0.15 | 0.30 | 0.40 | 0.24 |
Profit & loss
- Sales CAGR 3Y
- +4.3%
- Profit CAGR 3Y
- +14.4%
- EPS CAGR 3Y
- +12.3%
- ROE
- 9.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 543 | 532 | 613 | 616 | |
| – | minus 2.0% | +15.1% | +0.6% | |
| 517 | 502 | 576 | 565 | |
| 26.3 | 30.2 | 36.9 | 51.1 | |
| 4.8% | 5.7% | 6.0% | 8.3% | |
| 0.6 | 0.6 | −0 | −1.4 | |
| 12.5 | 17.2 | 18.4 | 17.2 | |
| 3.6 | 3.9 | 4.1 | 4.6 | |
| 0.2 | −0 | 0 | −4.1 | |
| 11 | 9.7 | 14.4 | 23.7 | |
| 6.1% | 15.4% | 36.4% | 34.8% | |
| 10.3 | 8.2 | 9.1 | 15.5 | |
| – | minus 20.3% | +11.3% | +68.9% | |
| 0.65 | 0.52 | 0.54 | 0.92 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 15.9 | 15.9 | 16.9 | 16.9 | |
| 72.2 | 80.5 | 140 | 153 | |
| 112 | 120 | 117 | 129 | |
| 66.6 | 69.2 | 70.5 | 71.8 | |
| 267 | 285 | 344 | 371 | |
| 66.1 | 65.5 | 67.4 | 74.1 | |
| 0.9 | – | 3.7 | – | |
| 7.5 | 0.4 | 0.6 | 0.3 | |
| 192 | 219 | 272 | 297 | |
| 267 | 285 | 344 | 371 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 29.4 | 4.6 | −21.2 | 22.5 | |
| −8.2 | −3.6 | −8.4 | −14.5 | |
| −13.8 | −8.2 | 29.9 | −8.2 | |
| 7.4 | −7.1 | 0.2 | −0.3 | |
| −8.4 | −3.3 | −5.9 | −15.1 | |
| 21 | 1.3 | −27.1 | 7.4 | |
| – | – | – | −1.9 |
Shareholding pattern
- Promoters69.77%
- Public30.23%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 69.77% | 30.23% | 0.00 | |
| 30 Jun 2026 | 69.77% | 30.23% | 0.00 | |
| 31 Mar 2026 | 69.77% | 30.23% | 0.00 | |
| 31 Dec 2025 | 69.77% | 30.23% | minus 0.02 | |
| 30 Sep 2025 | 69.79% | 30.21% | – |
Major shareholders
Filings & events
News
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