AEROENTER
Aeroflex Enterprises Limited
Steel products for infrastructure and industrial customers
Industrials›Capital Goods›Industrial Products›Iron & Steel Products
aeroflexgroup.in(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹127.87
Market cap
1,445 Cr
Stock P/E
9.1
P/B
1.75
Dividend yield
0.4%
ROE (FY26)
6.7%
ROCE (FY26)
11.6%
Operating margin (FY26)
12.7%
Debt / equity (FY26)
0.05
OCF / EBITDA (FY26)
15.1%
OCF / EBITDA (3Y)
-28.2%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Aeroflex Enterprises (formerly Sat Industries) is a Mumbai-based group that makes bulk packaging such as flexible intermediate bulk containers (FIBCs) for customers in India and export markets, alongside engineering services, lending and start-up investments.
Company snapshot
33rdBy market cap
Ranked among 64 companies in Iron & Steel Products.
Segment mix
Reportable segments as of 2024-09-30 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 62.4% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Exceptional Income | — | 0 Cr | -0.13 Cr | 0 Cr |
| Finance | 1.6% | 2 Cr | -0.12 Cr | 326 Cr |
| Manufacturing of Engineering Services | 11.7% | 16 Cr | 10 Cr | 61 Cr |
| Manufacturing of Flexible Flow Solution | 62.4% | 86 Cr | 11 Cr | 444 Cr |
| Manufacturing of Flexible Packaging | 23.4% | 32 Cr | -0.66 Cr | 126 Cr |
| Other Income | 8.2% | 11 Cr | 11 Cr | 0 Cr |
| Trading | 1.0% | 1 Cr | -0.06 Cr | 0 Cr |
Shares add up to 108% because segment revenues are before inter-segment eliminations.
What we see
Positives
- ✓Debt-to-equity of 0.05x — the company is largely funded by its own money, not borrowed funds.
Concerns
- ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.
1 more signal from the filings.Sign in free to see them all
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 137 Cr | 118 Cr | 115 Cr | 123 Cr | 138 Cr | 157 Cr | 161 Cr | 134 Cr | 172 Cr | 191 Cr | 200 Cr | 189 Cr |
| Operating expenses (approx.) | 117 Cr | 103 Cr | 99 Cr | 101 Cr | 113 Cr | 129 Cr | 133 Cr | 116 Cr | 143 Cr | 154 Cr | 164 Cr | 172 Cr |
| EBITDA | 20 Cr | 16 Cr | 17 Cr | 21 Cr | 25 Cr | 29 Cr | 27 Cr | 18 Cr | 30 Cr | 38 Cr | 36 Cr | 17 Cr |
| OPM % | 14.3% | 13.3% | 14.6% | 17.5% | 18.1% | 18.2% | 17.0% | 13.6% | 17.2% | 19.7% | 18.0% | 9.1% |
| Other income | 187 Cr | 10 Cr | 7 Cr | 7 Cr | 11 Cr | 4 Cr | 6 Cr | 8 Cr | 8 Cr | 5 Cr | 8 Cr | 144 Cr |
| Interest | 3 Cr | 2 Cr | 2 Cr | 1 Cr | 2 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 2 Cr | 1 Cr | 1 Cr |
| Depreciation | 2 Cr | 2 Cr | 2 Cr | 3 Cr | 3 Cr | 3 Cr | 5 Cr | 7 Cr | 8 Cr | 8 Cr | 10 Cr | 9 Cr |
| Profit before tax | 201 Cr | 21 Cr | 20 Cr | 24 Cr | 31 Cr | 27 Cr | 27 Cr | 17 Cr | 28 Cr | 33 Cr | 32 Cr | 150 Cr |
| Tax % | 12.9% | 30.8% | 26.3% | 24.4% | 27.7% | 20.3% | 30.9% | 16.6% | 27.8% | 25.1% | 19.6% | 31.2% |
| Net profit | 175 Cr | 15 Cr | 14 Cr | 18 Cr | 22 Cr | 22 Cr | 19 Cr | 14 Cr | 20 Cr | 25 Cr | 26 Cr | 103 Cr |
| EPS (₹) | ₹15.46 | ₹1.30 | ₹1.27 | ₹1.59 | ₹1.98 | ₹1.93 | ₹1.64 | ₹0.90 | ₹1.24 | ₹1.42 | ₹2.12 | ₹8.54 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 95 Cr | 99 Cr | 229 Cr | 225 Cr | 205 Cr | 347 Cr | 466 Cr | 501 Cr | 579 Cr | 698 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 91 Cr | 90 Cr | 197 Cr | 210 Cr | 179 Cr | 288 Cr | 411 Cr | 428 Cr | 476 Cr | 576 Cr | Sign in free for the trailing twelve months |
| EBITDA | 4 Cr | 9 Cr | 33 Cr | 16 Cr | 26 Cr | 59 Cr | 55 Cr | 73 Cr | 102 Cr | 122 Cr | Sign in free for the trailing twelve months |
| OPM % | 4.1% | 8.8% | 14.3% | 7.0% | 12.6% | 16.9% | 11.8% | 14.6% | 17.7% | 17.4% | Sign in free for the trailing twelve months |
| Other income | 2 Cr | 3 Cr | 0.93 Cr | 4 Cr | 0.34 Cr | 5 Cr | 16 Cr | 278 Cr | 28 Cr | 28 Cr | Sign in free for the trailing twelve months |
| Interest | 1 Cr | 2 Cr | 12 Cr | 10 Cr | 8 Cr | 7 Cr | 7 Cr | 10 Cr | 6 Cr | 5 Cr | Sign in free for the trailing twelve months |
| Depreciation | 1 Cr | 1 Cr | 5 Cr | 5 Cr | 5 Cr | 6 Cr | 7 Cr | 9 Cr | 15 Cr | 33 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 22 Cr | 8 Cr | 15 Cr | 2 Cr | 12 Cr | 50 Cr | 58 Cr | 332 Cr | 109 Cr | 111 Cr | Sign in free for the trailing twelve months |
| Tax % | 3.3% | 13.5% | -1.8% | -18.2% | 24.1% | 23.0% | 22.7% | 17.3% | 25.9% | 22.9% | Sign in free for the trailing twelve months |
| Net profit | 21 Cr | 7 Cr | 16 Cr | 3 Cr | 9 Cr | 39 Cr | 45 Cr | 274 Cr | 81 Cr | 85 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹2.97 | ₹0.65 | ₹1.44 | ₹0.25 | ₹0.83 | ₹3.42 | ₹3.98 | ₹24.25 | ₹7.14 | ₹5.68 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.0% | 2.9% | 6.3% | 1.3% | 3.4% | 7.4% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 20 Cr | 22 Cr | 22 Cr | 23 Cr | 23 Cr | 23 Cr | 23 Cr | 23 Cr | 23 Cr | 23 Cr |
| Reserves | 69 Cr | 67 Cr | 120 Cr | 137 Cr | 145 Cr | 189 Cr | 239 Cr | 626 Cr | 678 Cr | 804 Cr |
| Borrowings | 10 Cr | 27 Cr | 81 Cr | 66 Cr | 62 Cr | 91 Cr | 105 Cr | 63 Cr | 29 Cr | 41 Cr |
| Other liabilities | 31 Cr | 18 Cr | 48 Cr | 61 Cr | 71 Cr | 77 Cr | 78 Cr | 110 Cr | 123 Cr | 153 Cr |
| Total liabilities | 132 Cr | 136 Cr | 287 Cr | 289 Cr | 304 Cr | 379 Cr | 490 Cr | 893 Cr | 975 Cr | 1,156 Cr |
| Fixed assets (net) | 20 Cr | 21 Cr | 69 Cr | 67 Cr | 67 Cr | 69 Cr | 106 Cr | 138 Cr | 230 Cr | 268 Cr |
| CWIP | — | 0.03 Cr | — | 0.0014 Cr | 0.02 Cr | 13 Cr | 2 Cr | 6 Cr | 10 Cr | 23 Cr |
| Investments | 5 Cr | 14 Cr | 8 Cr | 6 Cr | 6 Cr | 10 Cr | 13 Cr | 20 Cr | 22 Cr | 27 Cr |
| Loans & advances | — | — | 32 Cr | 26 Cr | 42 Cr | 51 Cr | 54 Cr | 63 Cr | 44 Cr | 102 Cr |
| Inventories | 7 Cr | 8 Cr | 31 Cr | 37 Cr | 40 Cr | 55 Cr | 85 Cr | 89 Cr | 131 Cr | 159 Cr |
| Trade receivables | 45 Cr | 15 Cr | 53 Cr | 52 Cr | 54 Cr | 81 Cr | 107 Cr | 148 Cr | 190 Cr | 214 Cr |
| Cash & bank | 12 Cr | 3 Cr | 5 Cr | 6 Cr | 10 Cr | 13 Cr | 36 Cr | 86 Cr | 44 Cr | 50 Cr |
| Other assets | 43 Cr | 75 Cr | 88 Cr | 96 Cr | 86 Cr | 86 Cr | 88 Cr | 343 Cr | 305 Cr | 312 Cr |
| Total assets | 132 Cr | 136 Cr | 287 Cr | 289 Cr | 304 Cr | 379 Cr | 490 Cr | 893 Cr | 975 Cr | 1,156 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | -26 Cr | -6 Cr | -28 Cr | 28 Cr | 19 Cr | 5 Cr | -7 Cr | -242 Cr | 140 Cr | 18 Cr |
| Cash from investing | -4 Cr | -27 Cr | -12 Cr | -16 Cr | -5 Cr | -22 Cr | -33 Cr | 207 Cr | -83 Cr | -23 Cr |
| Cash from financing | 35 Cr | 24 Cr | 33 Cr | -1 Cr | -11 Cr | 20 Cr | 58 Cr | 79 Cr | -99 Cr | 13 Cr |
| Net cash flow | 5 Cr | -9 Cr | -7 Cr | 10 Cr | 3 Cr | 3 Cr | 18 Cr | 44 Cr | -44 Cr | 7 Cr |
| Free cash flow (OCF − Capex) | -27 Cr | -9 Cr | -34 Cr | 22 Cr | 19 Cr | 5 Cr | -52 Cr | -287 Cr | 35 Cr | -61 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 22.7% | 8.5% | 11.6% | 5.6% | 9.0% | 19.1% | 15.8% | 43.6% | 13.4% | 11.6% |
| ROE % | 23.1% | 7.7% | 8.5% | 1.6% | 5.1% | 16.8% | 14.7% | 35.8% | 6.5% | 6.7% |
| Debtor days | 172 | 56 | 84 | 84 | 95 | 85 | 84 | 108 | 119 | 111 |
| Inventory days | 93 | 121 | 88 | 107 | 116 | 95 | 93 | 100 | 148 | 146 |
| Days payable | 369 | 153 | 108 | 129 | 130 | 81 | 58 | 74 | 81 | 93 |
| Cash conversion cycle | -104 | 25 | 64 | 61 | 81 | 99 | 119 | 134 | 187 | 165 |
| OCF / EBITDA % | -660.9% | -69.2% | -84.6% | 175.4% | 73.9% | 8.0% | -12.5% | -331.4% | 136.4% | 15.1% |
| OCF / EBITDA % (3 years) | — | — | -131.7% | -10.2% | 25.8% | 51.4% | 12.2% | -130.8% | -47.3% | -28.2% |
| Debt / equity | 0.12 | 0.30 | 0.58 | 0.41 | 0.37 | 0.43 | 0.40 | 0.10 | 0.04 | 0.05 |
| Current ratio | — | — | 2.23 | 2.22 | 2.28 | 1.87 | 2.28 | 4.50 | 4.81 | 4.25 |
| Net debt / EBITDA | -0.35 | 2.77 | 2.33 | 3.76 | 2.02 | 1.32 | 1.26 | -0.31 | -0.15 | -0.08 |