AERONEU

Aeroflex Neu Limited

Flexible packaging and digital infrastructure investments

Industrials›Capital Goods›Industrial Products›Packaging

aeroflexneu.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹69.50
Market cap
179 Cr
Stock P/E
188.6
P/B
1.70
Dividend yield
0.7%
ROE (FY26)
1.6%
ROCE (FY26)
4.3%
Operating margin (FY26)
0.4%
Debt / equity (FY26)
0.23
OCF / EBITDA (3Y)
87.0%

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 Neu (formerly Sah Polymers) is an Udaipur-based maker of woven polypropylene and HDPE bags, laminated bags and flexible intermediate bulk containers (large industrial bags), sold mainly to export customers.

Company snapshot

26thBy market cap

Ranked among 33 companies in Packaging.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 94.0% of revenue

SegmentRevenue shareRevenuePBTAssets
Financing
1.4%
0.40 Cr0.27 Cr11 Cr
Manufacturing -Flexible Packaging
94.0%
26 Cr-0.28 Cr115 Cr
Other Income—-0.0088 Cr-0.0088 Cr0 Cr
Trading
4.5%
1 Cr0.02 Cr0 Cr

What we see

Positives
  • ✓87% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is very thin at 1.4% — little room for error if costs rise.
2 more signals 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

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales28 Cr26 Cr32 Cr29 Cr34 Cr32 Cr34 Cr30 Cr35 Cr31 Cr34 Cr28 Cr
Operating expenses (approx.)27 Cr25 Cr31 Cr28 Cr33 Cr31 Cr34 Cr29 Cr34 Cr29 Cr34 Cr27 Cr
EBITDA1.00 Cr0.79 Cr1 Cr2 Cr0.90 Cr1 Cr0.19 Cr0.71 Cr0.71 Cr2 Cr0.06 Cr0.96 Cr
OPM %3.6%3.0%3.7%5.4%2.7%4.3%0.6%2.4%2.1%6.5%0.2%3.4%
Other income0.49 Cr0.89 Cr0.41 Cr0.31 Cr0.91 Cr0.09 Cr0.85 Cr1 Cr2 Cr0.41 Cr1 Cr0.68 Cr
Interest0.75 Cr0.93 Cr0.80 Cr0.80 Cr0.82 Cr0.82 Cr0.75 Cr0.61 Cr0.61 Cr0.63 Cr0.62 Cr0.58 Cr
Depreciation0.57 Cr0.61 Cr0.63 Cr0.63 Cr0.64 Cr0.65 Cr0.74 Cr0.64 Cr0.69 Cr0.74 Cr0.87 Cr0.87 Cr
Profit before tax0.17 Cr0.14 Cr0.18 Cr0.46 Cr0.35 Cr0.02 Cr-0.46 Cr0.93 Cr1 Cr1 Cr-0.02 Cr0.18 Cr
Tax %31.4%46.8%28.5%35.5%24.0%104.5%27.0%13.0%0.1%29.0%-4406.2%53.7%
Net profit0.11 Cr0.07 Cr0.13 Cr0.30 Cr0.27 Cr-0.0011 Cr-0.33 Cr0.81 Cr1 Cr0.74 Cr-0.87 Cr0.08 Cr
EPS (₹)₹0.04₹0.03₹0.05₹0.11₹0.11₹0.00₹-0.13₹0.31₹0.40₹0.29₹-0.34₹0.03

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales81 Cr95 Cr109 Cr129 Cr129 CrSign in free for the trailing twelve months
Operating expenses (approx.)74 Cr88 Cr105 Cr125 Cr126 CrSign in free for the trailing twelve months
EBITDA7 Cr7 Cr5 Cr4 Cr3 CrSign in free for the trailing twelve months
OPM %8.7%7.3%4.3%3.1%2.7%Sign in free for the trailing twelve months
Other income0.72 Cr2 Cr2 Cr2 Cr5 CrSign in free for the trailing twelve months
Interest1 Cr2 Cr3 Cr3 Cr2 CrSign in free for the trailing twelve months
Depreciation1 Cr1 Cr2 Cr3 Cr3 CrSign in free for the trailing twelve months
Profit before tax5 Cr5 Cr1 Cr0.38 Cr3 CrSign in free for the trailing twelve months
Tax %20.3%26.6%31.7%39.5%42.1%Sign in free for the trailing twelve months
Net profit4 Cr4 Cr0.93 Cr0.23 Cr2 CrSign in free for the trailing twelve months
EPS (₹)₹2.81₹2.10₹0.36₹0.09₹0.68Sign in free for the trailing twelve months
Dividend payout %—0.0%139.4%0.0%0.0%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

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital16 Cr26 Cr26 Cr26 Cr26 Cr
Reserves8 Cr62 Cr61 Cr61 Cr79 Cr
Borrowings31 Cr25 Cr31 Cr28 Cr24 Cr
Other liabilities11 Cr14 Cr14 Cr12 Cr15 Cr
Total liabilities69 Cr126 Cr131 Cr128 Cr145 Cr
Fixed assets (net)16 Cr44 Cr48 Cr52 Cr50 Cr
CWIP7 Cr0.93 Cr0.52 Cr0 Cr0 Cr
Investments—0 Cr0 Cr0 Cr0.23 Cr
Loans & advances—8 Cr7 Cr5 Cr12 Cr
Inventories16 Cr26 Cr30 Cr34 Cr30 Cr
Trade receivables14 Cr16 Cr22 Cr21 Cr23 Cr
Cash & bank2 Cr11 Cr7 Cr4 Cr17 Cr
Other assets15 Cr20 Cr16 Cr12 Cr13 Cr
Total assets69 Cr126 Cr131 Cr128 Cr145 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-0.79 Cr-17 Cr0.19 Cr8 Cr3 Cr
Cash from investing-11 Cr-24 Cr-5 Cr-6 Cr-0.0093 Cr
Cash from financing11 Cr46 Cr-5 Cr-5 Cr11 Cr
Net cash flow-0.47 Cr5 Cr-10 Cr-3 Cr12 Cr
Free cash flow (OCF − Capex)-9 Cr-47 Cr-6 Cr2 Cr2 Cr

Ratios

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %11.8%6.5%3.9%3.1%4.3%
ROE %15.8%3.9%0.9%0.2%1.6%
Debtor days6362746065
Inventory days120163172165166
Days payable6052513850
Cash conversion cycle122173195188181
OCF / EBITDA %-11.3%-245.0%4.1%185.9%n.m.
OCF / EBITDA % (3 years)——-94.5%-58.9%87.0%
Debt / equity1.270.290.350.320.23
Current ratio—2.692.182.062.58
Net debt / EBITDA4.092.084.996.032.11