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10 Yrs X-Ray 
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Analyst Note 
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About
Airfloa Rail Technology Ltd (544516)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544516 NSE: Engineering - Industrial Equipments | Small Cap | Airfloa Rail Techno. Share Price
₹542.55 2.25 (0.42%)
As on 11-Sep'26 16:59
Airfloa Rail Technology Ltd (544516)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544516 NSE: Engineering - Industrial Equipments | Small Cap | Airfloa Rail Techno. Share Price
₹542.55 2.25 (0.42%)
As on 11-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹1,300 Cr.
Current Price
₹542.6
52-Week Low / High
₹246 / 593
TTM EPS
₹16.3
TTM Sales
₹320 Cr.
Book Value per Share
₹84.2
P/E Ratio
33.22
Higher than its 5-year historical median
Industry PE
58.4
Price to Book (P/B)
6.44
Higher than its 5-year historical median
Price to Sales (P/S)
4.07
Higher than its 5-year historical median
EV/EBITDA
20.96
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
23.05%
Return on Capital Employed (ROCE)
26.96%
Return on Assets (ROA)
9.94%
Operating Profit Margin
25.1%
Net Profit Margin
13.28%
Gross Profit Margin
19.5%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
61.27%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
54.20%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹178 Cr.
Equity
₹24 Cr.
Face Value
₹10
All Time Low / High
₹246.00 / 592.90
Check Before You Invest
Quality
Not GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Weak
Is Airfloa Rail Technology Ltd a good quality company?
Airfloa Rail Technology Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Airfloa Rail Technology Ltd performance compare with that of its Peers?
Revenue growth of Airfloa Rail Technology Ltd vs industry peers?
Airfloa Rail Technology Ltd revenue CAGR is %, compared to the industry median CAGR of 0%, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of Airfloa Rail Technology Ltd?
Promoters hold 54.20% of the Airfloa Rail Technology Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Airfloa Rail Technology Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Airfloa Rail Technology Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 12.5% | 12.7% | 29.3% | 32% | - |
| Value Creation Index ⓘ | -0.1 | -0.1 | 1.1 | 1.3 | - |
Growth Parameters ⓘ |
|||||
| Sales ⓘ | 137 | 95.2 | 119 | 192 | 320 |
| Sales YoY Gr. | - | -30.8% | 25.4% | 61.3% | - |
| Adj EPS ⓘ | 2.3 | 1 | 9.5 | 14.6 | 16.3 |
| YoY Gr. | - | -56.3% | 850% | 53.9% | - |
| BVPS (₹) ⓘ | 26.9 | 27.9 | 37.4 | 62.1 | 83.2 |
| Adj Net Profit ⓘ | 3.4 | 1.5 | 14.2 | 25.5 | 39 |
| Cash Flow from Ops. ⓘ | 30.5 | 10.1 | 3.5 | -4.4 | - |
| Debt/CF from Ops. ⓘ | 2.3 | 6 | 18.4 | -13.5 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 11.9% | 61.3% | ||||
| Adj EPS ⓘ | NA | NA | 85.5% | 53.9% | ||||
| BVPSⓘ | NA | NA | 32.2% | 66.2% | ||||
| Share Price | - | - | - | - | ||||
Key Financial Parameters ⓘ
| Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 8.5 | 3.6 | 29.1 | 31.1 | 22.5 |
| Op. Profit Mgn % ⓘ | 12.5 | 17.4 | 26.7 | 25.1 | NAN |
| Net Profit Mgn % ⓘ | 2.5 | 1.6 | 11.9 | 13.3 | 12.3 |
| Debt to Equity ⓘ | 1.8 | 1.4 | 1.1 | 0.6 | - |
| Working Cap Days ⓘ | 0 | 484 | 446 | 362 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 113 | 121 | 170 | 0 |
Valuation of Airfloa Rail Techno. - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'25 |
|---|---|
| Sales | 192 |
| Operating Expenses ⓘ + | 144 |
| Operating Profit ⓘ | 48 |
| Operating Profit Margin (%) | 25.1% |
| Other Income ⓘ + | 0 |
| Interest ⓘ | 11 |
| Depreciation ⓘ | 3 |
| Profit Before Tax ⓘ | 35 |
| Tax ⓘ | 9 |
| Profit After Tax | 26 |
| PAT Margin (%) | 13.3% |
| Adjusted EPS (₹) | 14.6 |
| Dividend Payout Ratio (%) | 0% |
| PARTICULARS | Mar'25 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 111 | ||||||||||
| Debt + | 60 | ||||||||||
| Minority Interest | 1 | ||||||||||
| Trade Payables | 64 | ||||||||||
| Others Liabilities ⓘ | 22 | ||||||||||
| Total Liabilities ⓘ | 257 | ||||||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 37 | ||||||||||
| CWIP ⓘ | 0 | ||||||||||
| Investments ⓘ | 0 | ||||||||||
| Inventories | 62 | ||||||||||
| Trade Receivables | 128 | ||||||||||
| Cash Equivalents | 4 | ||||||||||
| Others Assets ⓘ | 26 | ||||||||||
| Total Assets ⓘ | 257 | ||||||||||
| PARTICULARS | Mar'25 |
|---|---|
| Cash Flow From Operating Activity ⓘ + | -4 |
| Cash Flow From Investing Activity ⓘ + | -6 |
| Cash Flow From Financing Activity ⓘ + | 13 |
| Net Cash Flow ⓘ | 2 |
| PARTICULARS | Mar'25 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 23.05 | |||||||||
| ROCE (%) | 26.96 | |||||||||
| Asset Turnover Ratio | 0.75 | |||||||||
| PAT to CFO Conversion(x) | -0.15 | |||||||||
| Working Capital Days | ||||||||||
| Receivable Days | 242.10 | |||||||||
| Inventory Days | 118.50 | |||||||||
| Payable Days | 206.60 | |||||||||
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Airfloa Rail Technology Ltd FAQs
The current trading price of Airfloa Rail Techno. on 11-Sep-2026 16:59 is ₹542.5.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Airfloa Rail Techno. stood at ₹1,300.5 Cr
The latest P/E ratio of Airfloa Rail Techno. as of 10-Sep-2026 is 33.22.
The latest P/B ratio of Airfloa Rail Techno. as of 10-Sep-2026 is 6.52.
The 52-week high of Airfloa Rail Techno. is ₹592.9 and the 52-week low is ₹246.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Airfloa Rail Techno. is ₹320 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Airfloa Rail Technology Ltd is a below average quality company.
The key valuation ratios of Airfloa Rail Technology Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Airfloa Rail Technology Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Airfloa Rail Technology Ltd
Airfloa Rail Technology Limited was originally incorporated as ‘Air Flow Equipments (India) Private Limited’ a private limited company on December 14, 1998 in Chennai, Tamil Nadu. Thereafter, name of the company was changed from ‘Air Flow Equipments (India) Private Limited’ to ‘Airfloa Rail Technology Private Limited’, consequent to name change, pursuant to a special resolution passed by the shareholders of the company on July 18, 2024. Thereafter, name of the company was changed from ‘Airfloa Rail Technology Private Limited’ to ‘Airfloa Rail Technology Limited’, consequent to conversion of the company from private to public company, pursuant to a special resolution passed by the shareholders of the company on September 12, 2024.
The company is engaged in the manufacturing of components which are used in the rolling stock for the Indian Railways through railway production units like Integral Coach Factory (ICF), other coach factories. In addition to manufacturing the rolling stock components, it carries out turnkey interior furnishing projects for Indian Railways. In the aerospace and defence sectors, it manufactures intricate, highly engineered, and vital components. Along with Indian Railways through ICF and other coach factories, it also serves other Rails factories, and global rolling stock OEMs. The company has been in operation for over two decades, and possesses extensive expertise as a reliable supplier of high-precision forged and machined components for the rolling stock, aerospace, and defence industries, as well as undertaking turnkey interior furnishing projects in railways. Its in-house competencies include engineering, design, tooling, material development, finishing, and assembly, with the focus on continuously improving production and quality processes. Its process design abilities and several years of manufacturing high-precision forged and machined components enables it to develop high-quality and cost-effective solutions for the demanding applications of Indian Railways, global railways OEMS and OEMs in aerospace and defence sector which makes it a strategic and reliable partner.
With promoter and management team boasting over more than two decades of experience in the Railway OEM industry, the company benefits from deep industry knowledge and strategic leadership, enhancing the ability to innovate, navigate market dynamics, and build strong client relationships.
Business area of the company
The company is engaged in the business of manufacturing, processing, assembling, developing, designing with all type of railway rolling stocks, passenger rail coaches and their discrete components, Rail wagons and their discrete components, locomotives and their discrete components. In the aerospace and defence sectors, it manufactures intricate, highly engineered, and vital components. Its in-house competencies include engineering, design, tooling, material development, finishing, and assembly, with the focus on continuously improving production and quality processes.
Products of the company
- Train Materials
- Train 18 Seat
- Roller Bed
- ACP Interior panelling
- Supply of Rake set
- Roof & Sidewall
- GM Coach LRAAC
- Automatic Sliding Door
- Roof & Sidewall
- Nose cone
- Luggage Rack
History and milestones
- 1998: Incorporation of company.
- 2003-04: First company in India to supply Aluminium with powder coating to railway coaches (Interior products).
- 2004-05: Company received first export coach windows order for Angola through Indian railways.
- 2008: The company has started providing its own rail coach design to customers.
- 2010: The company started Metro Rail Segment.
- 2014-2016: The company ventured into coach body building.
- 2018-19: The company bagged orders for prestigious Vande Bharat (T-18) interior & seat components.
- 2019: The company started Aero space segment.
- 2020-21: The company bagged an executed order for complete turnkey interior furnishing of 97 mainline passenger coaches for Srilanka through RITES.
- 2024: The company changed its name from Airflow Equipments India Private Limited to Airfloa Rail Technology Private Limited. The company also converted into a public limited company, henceforth the name of the company changed to Airfloa Rail Technology Limited.
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