Ashoka India Equity Investment Trust Plc (AIE) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: <0.01%
• Average Volume (3M): 665.53K
• Price to Earnings (P/E): 819.4
• Beta (1Y): 0.57
• Revenue Growth: 12.53%
• EPS Growth: -99.60%
• Country: UK
• Employees: N/A
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): -0.16
• Shares Outstanding: 169,317,810
• 10 Day Avg. Volume: 1,038,687
• 30 Day Avg. Volume: 665,528
• PEG Ratio: 4.35
• Price to Book (P/B): 0.97
• Price to Sales (P/S): 7.66
• P/FCF Ratio: -33.35
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 53 Neutral
• Price Target: 244.00p ▼(-10.62% Downside)

The score is held back primarily by persistently negative operating/free cash flow and weak/volatile profitability (including a 2025 net loss), despite a strong, low-risk balance sheet with zero debt. Technical signals are largely neutral, while valuation is a notable headwind due to an extremely high P/E and very low yield. Corporate events are a modest positive, reflecting strategic actions and shareholder support.

Positive Factors

Balance sheet strength

Zero debt and meaningful equity growth materially lower financial risk, giving the trust long-term balance-sheet flexibility. This durability allows the manager to hold through market cycles, deploy capital or cautiously gear if opportunities arise, supporting NAV resilience.

Closed‑ended, diversified India exposure

As a closed‑ended trust focused on Indian equities, the vehicle provides durable, sector-diversified exposure without redemption pressure. That structure supports long-duration positions aligned with structural India growth and permits active, unconstrained portfolio construction.

Strategic corporate actions

Board-approved mandate expansion to private/unquoted assets, addition of a co-portfolio manager and initiation of a dividend are structural positives: they broaden return sources, reduce key-person risk, and signal governance and shareholder alignment that can improve long-term performance.

Negative Factors

Persistent negative cash generation

Consistent negative operating and free cash flow undermines earnings quality and forces reliance on unrealized portfolio gains or asset disposals to fund expenses. Over time this increases vulnerability to market stress and limits the trust's ability to sustain costs without shrinking invested assets.

Volatile profitability and recent net loss

Meaningful year-to-year swings, including an ~11% revenue decline and a 2025 net loss, reduce visibility on long-term returns. For an investment trust reliant on capital appreciation and dividends, inconsistent profitability complicates NAV predictability and investor return expectations.

Minimal income support from dividends

A very low dividend yield means shareholders receive almost no recurring income, making returns heavily dependent on capital gains. This structural reliance on market performance increases long-term return volatility and reduces appeal for income-oriented investors seeking steady distributions.

Ashoka India Equity Investment Trust Plc Business Overview & Revenue Model

Company Description

Ashoka India Equity Investment Trust PLC is headquartered in London, United Kingdom.

How the Company Makes Money

Ashoka India Equity Investment Trust Plc makes money primarily through the appreciation of its investment portfolio consisting of Indian equities. The company generates revenue by buying shares of promising Indian companies and selling them at a higher price. Additionally, AIE may earn dividends from its holdings in companies that distribute profits to shareholders. The trust's revenue model is heavily influenced by the performance of the Indian stock market and the economic conditions in India. Key revenue streams include realized capital gains from the sale of investments and dividend income. AIE may also benefit from partnerships with investment advisors and managers who provide strategic insights and expertise in identifying lucrative investment opportunities in the Indian market.

Ashoka India Equity Investment Trust Plc Financial Statement Overview

Summary

Balance sheet strength is a major positive (zero debt and much larger equity base), but operating performance is uneven with an ~11% revenue decline and a swing to a small net loss in 2025. Cash generation is the key drag: operating cash flow and free cash flow are negative in every year shown, which lowers earnings quality and increases volatility risk.

Income Statement

Profitability has been volatile. The company delivered strong profits in prior years (notably 2024) but swung to a small net loss in 2025 alongside an ~11% revenue decline. Margins also fluctuate meaningfully year to year (including an unusual negative-revenue year in 2020), which reduces earnings quality and visibility despite periods of very strong operating results.

Balance Sheet

The balance sheet is conservatively positioned with zero debt across the periods provided, which meaningfully lowers financial risk. Equity has grown over time (from ~70m in 2020 to ~476m in 2025), supporting asset growth; however, returns on equity are inconsistent and turned slightly negative in 2025, reflecting the recent earnings dip.

Cash Flow

Cash generation is the key weak spot: operating cash flow and free cash flow are negative in every year shown (including 2025 at about -13.9m). While free cash flow improved sharply in 2025 versus 2024 (growth was positive), the business still isn’t converting reported results into cash, and negative operating cash flow alongside negative/low earnings increases volatility risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	60.35M	60.35M	53.63M	17.79M	8.91M	14.54M
Gross Profit	30.21M	30.21M	114.82M	14.91M	8.89M	9.12M
EBITDA	0.00	0.00	115.83M	0.00	0.00	0.00
Net Income	-1.05M	-1.05M	96.65M	34.58M	9.22M	40.35M
Balance Sheet
Total Assets	510.55M	510.55M	457.17M	243.71M	190.62M	155.51M
Cash, Cash Equivalents and Short-Term Investments	27.37M	27.37M	5.68M	6.49M	7.03M	7.45M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	34.40M	34.40M	21.73M	11.16M	3.23M	18.93M
Stockholders Equity	476.15M	476.15M	435.44M	232.55M	187.39M	136.57M
Cash Flow
Free Cash Flow	-13.86M	-13.86M	-8.86M	-2.67M	-2.67M	-1.74M
Operating Cash Flow	-13.86M	-13.86M	-8.86M	-2.67M	-2.67M	-1.74M
Investing Cash Flow	-6.21M	-6.21M	-98.19M	-8.45M	-31.34M	-18.22M
Financing Cash Flow	41.77M	41.77M	106.23M	10.59M	33.59M	25.77M

Ashoka India Equity Investment Trust Plc Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 273.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:AIE, the sentiment is Neutral. The current price of 273 is above the 20-day moving average (MA) of 252.65, above the 50-day MA of 263.43, and above the 200-day MA of 270.89, indicating a neutral trend. The MACD of -6.56 indicates Negative momentum. The RSI at 49.88 is Neutral, neither overbought nor oversold. The STOCH value of 50.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:AIE.

Ashoka India Equity Investment Trust Plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
IIG	56 Neutral	£312.08M	-62.56	-1.34%	―	962.39%	-71.54%
AIE	53 Neutral	―	819.35	-0.23%	<0.01%	12.53%	-99.60%
450	44 Neutral	£14.09M	-19.09	-21.85%	―	―	―
BSFA	43 Neutral	£2.57M	-2.15	-46.41%	―	-64.18%	12.05%

Ashoka India Equity Investment Trust Plc Corporate Events

Ashoka India Equity Investment Trust Confirms Updated Voting Rights Total

Ashoka India Equity Investment Trust plc has confirmed that, as of 30 January 2026, its issued share capital stands at 169,317,811 ordinary shares, each with a nominal value of £0.01 and carrying one voting right. The company holds no shares in treasury, meaning the total number of voting rights is also 169,317,811, a figure that shareholders must use as the denominator when assessing whether they need to disclose any interest or change in interest under the FCA’s Disclosure Guidance and Transparency Rules, reinforcing transparency and regulatory compliance for investors.

The most recent analyst rating on (GB:AIE) stock is a Hold with a £244.00 price target. To see the full list of analyst forecasts on Ashoka India Equity Investment Trust Plc stock, see the GB:AIE Stock Forecast page.

Ashoka India Equity Investment Trust Clears Path for Share Transactions During Closed Period

Ashoka India Equity Investment Trust plc has confirmed that its board is satisfied all inside information up to the date of the announcement has already been disclosed via a regulatory information service. As a result, the trust is permitted to continue repurchasing its own shares or issuing new securities during the current closed period ahead of its half-yearly report for the period ended 31 December 2025, maintaining full flexibility over its capital management activities.

The most recent analyst rating on (GB:AIE) stock is a Hold with a £243.00 price target. To see the full list of analyst forecasts on Ashoka India Equity Investment Trust Plc stock, see the GB:AIE Stock Forecast page.

Ashoka India Equity Investment Trust Issues New Shares at Premium to NAV

Ashoka India Equity Investment Trust plc has issued 150,000 new ordinary shares of one penny each under its block listing facility, priced at 271.30 pence per share, representing a premium to the prevailing cum-income net asset value. Following this issuance, the company’s share capital increases to 169,317,811 ordinary shares with voting rights, a new reference figure for shareholders assessing disclosure thresholds under UK transparency rules, highlighting continued investor demand and incremental capital inflows into the India-focused trust.

The most recent analyst rating on (GB:AIE) stock is a Hold with a £276.00 price target. To see the full list of analyst forecasts on Ashoka India Equity Investment Trust Plc stock, see the GB:AIE Stock Forecast page.

Ashoka India Equity Investment Trust Issues New Shares at Premium to NAV

Ashoka India Equity Investment Trust plc has issued 75,000 new ordinary shares of one penny each under its block listing facility at 274.30 pence per share, a premium to the prevailing net asset value, signalling strong investor demand for the trust’s Indian equity strategy. Following this issuance, the company’s total share capital with voting rights rises to 169,167,811 ordinary shares, a new denominator for shareholders’ disclosure calculations under the UK’s transparency rules.

The most recent analyst rating on (GB:AIE) stock is a Hold with a £276.00 price target. To see the full list of analyst forecasts on Ashoka India Equity Investment Trust Plc stock, see the GB:AIE Stock Forecast page.

Ashoka India Equity Investment Trust Issues New Shares at Premium to NAV

Ashoka India Equity Investment Trust plc has issued 150,000 new ordinary shares of one penny each under its block listing facility at a price of 273.90 pence per share, representing a premium to the trust’s prevailing net asset value per share. Following this issuance, the company’s total share capital with voting rights has increased to 169,092,811 ordinary shares, a figure that will serve as the reference denominator for shareholders’ regulatory disclosure obligations under the Financial Conduct Authority’s transparency rules.

The most recent analyst rating on (GB:AIE) stock is a Hold with a £276.00 price target. To see the full list of analyst forecasts on Ashoka India Equity Investment Trust Plc stock, see the GB:AIE Stock Forecast page.

Ashoka India Equity Investment Trust Passes All AGM Resolutions

Ashoka India Equity Investment Trust plc announced that all resolutions proposed at its Annual General Meeting were successfully passed. Key resolutions included the adoption of the annual report, approval of the directors’ remuneration report and policy, re-election of board members, re-appointment of the auditor, and an increase in the investment policy limit for unquoted companies with a significant presence in India. These approvals reflect strong shareholder support and position the company for strategic growth in the Indian market.