Ahlada Engineers Limited (AHLADA) AI Stock Analysis

• Market Cap: ₹525.63M
• Dividend Yield: 3.19%
• Average Volume (3M): 32.59K
• Price to Earnings (P/E): 78.9
• Beta (1Y): 0.63
• Revenue Growth: -46.84%
• EPS Growth: -79.85%
• Country: IN
• Employees: 188
• Sector: Services
• Sector Strength: N/A
• Industry: Construction
• EPS (TTM): 0.15
• Shares Outstanding: 12,921,000
• 10 Day Avg. Volume: 17,384
• 30 Day Avg. Volume: 32,585
• PEG Ratio: -0.28
• Price to Book (P/B): 0.54
• Price to Sales (P/S): 0.57
• P/FCF Ratio: 5.59
• 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: 58 Neutral
• Price Target: ₹42.00 ▼(-11.45% Downside)
• Action: Reiterated Date: 01/10/26
• Date: Action: Reiterated 01/10/26

Overall score is held back primarily by weak recent financial performance (notably the revenue decline and thin net margins). Balance sheet strength and strong free-cash-flow conversion provide support, while technicals are modestly constructive but not strong enough to outweigh the valuation headwind from a high P/E.

Positive Factors

Conservative leverage / strong balance sheet

A low debt-to-equity ratio provides durable financial flexibility: it reduces interest burden, supports bidding and execution on capital-intensive contracts, and allows the firm to finance working capital or capex internally during construction cycles, cushioning downturns.

High free-cash-flow conversion

FCF nearly equaling reported net income signals efficient conversion of earnings into cash, enabling sustained reinvestment in production, maintenance of safety inventory, or debt reduction. This cash resilience supports long-term operations even if revenue is cyclical.

Niche product focus in safety/security doors

Specialization in fire-rated and security door systems creates structural demand from institutional, commercial and industrial projects where compliance and safety drive purchases. Niche technical requirements raise barriers to entry and can support stable order flows and pricing over time.

Negative Factors

Sharp revenue decline

A material drop in revenue undermines scale economics and raises questions about demand, order wins, or market share. Persistently lower top line reduces ability to absorb fixed costs, weakens negotiating power with suppliers, and constrains long-term investment capacity.

Thin net profit margin

Very low net margins limit retained earnings and the company's buffer against raw material price swings or contract bidding pressures. In manufacturing this constrains reinvestment, reduces capacity to scale margins, and makes earnings vulnerable to modest cost increases.

Modest return on equity

A low ROE indicates capital is not generating strong returns, signaling structural inefficiency or weak pricing power. Over time this limits the firm's ability to grow via retained profits, may necessitate external funding for expansion, and can deter long-term investors.

Ahlada Engineers Limited Business Overview & Revenue Model

Company Description

Ahlada Engineers Limited manufactures and sells steel doors and windows in India. It offers steel doors, including residential and commercial doors; and steel windows, such as single and double rebate windows. The company also manufactures and sells cleanroom equipment comprising pass box, horizontal and vertical air flow units, air showers, mobile LAF trolleys, bio-safety cabinets, dispensing and sampling booths, and sanitizing tunnels; clean room furniture, such as double sink cabinet, cupboards, die cabinets, cages, cage trolleys, table with keyboard slots and lockers, cross over benches, dust bins, enclosures, flat pallets, chairs, school benches, office tables, recycle cabinets, gown dispensers, steps, steps ladder, material trolleys, pallet shelves, pigeon cupboards, tool box cabinets, work shop carts, stools, and storage tanks; and water purifying systems. It serves the pharmaceutical, biotechnology, food, healthcare, entertainment, real estate, and other industries. The company also exports its products. Ahlada Engineers Limited was incorporated in 2005 and is based in Hyderabad, India.

How the Company Makes Money

Ahlada Engineers Limited primarily makes money by manufacturing and selling engineered door solutions and related building products to customers in the construction and infrastructure ecosystem. Revenue is generated through (i) product sales of specialized doors (including safety/security-oriented door systems) and associated accessories/hardware supplied for buildings and projects; and (ii) project/order-based supply where pricing depends on specifications such as door type, size, material, compliance requirements (e.g., fire/safety standards), quantities, and delivery timelines. Earnings are influenced by the company’s ability to win orders from builders, contractors, and institutional/industrial customers, execute manufacturing efficiently, and manage input costs (such as steel/metal and other raw materials). Specific details on exact revenue mix by segment, named key customers, or significant partnerships are null.

Ahlada Engineers Limited Financial Statement Overview

Summary

Mixed fundamentals: sharp revenue decline (down 35.09%) and low net margin (2.81%) weigh on performance, partly offset by low leverage (debt-to-equity 0.26) and strong cash conversion (free cash flow to net income 0.997).

Income Statement

Ahlada Engineers Limited has experienced a significant decline in revenue growth, with a notable decrease of 35.09% in the latest year. The gross profit margin stands at 36.98%, which is relatively healthy, but the net profit margin is low at 2.81%. The EBIT and EBITDA margins are moderate at 8.12% and 16.08%, respectively. Overall, the income statement reflects challenges in revenue growth and profitability.

Balance Sheet

The company maintains a solid debt-to-equity ratio of 0.26, indicating a conservative leverage position. Return on equity is modest at 2.66%, suggesting limited profitability relative to equity. The equity ratio is not explicitly calculated, but the balance sheet shows a stable financial structure with a focus on equity financing.

Cash Flow

Ahlada Engineers Limited has shown a remarkable improvement in free cash flow, with a growth rate labeled as 'Infinity' due to a previous negative base. The operating cash flow to net income ratio is 0.21, indicating moderate cash generation relative to net income. The free cash flow to net income ratio is strong at 0.997, reflecting efficient cash conversion.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	880.81M	1.32B	2.60B	1.58B	1.52B	1.59B
Gross Profit	240.72M	488.11M	362.38M	625.38M	231.21M	500.99M
EBITDA	140.55M	212.23M	367.80M	254.95M	268.14M	297.08M
Net Income	17.60M	37.06M	136.49M	50.94M	51.83M	101.88M
Balance Sheet
Total Assets	2.17B	2.12B	2.29B	1.98B	1.84B	2.33B
Cash, Cash Equivalents and Short-Term Investments	29.41M	25.15M	24.89M	753.00K	873.00K	55.57M
Total Debt	372.75M	357.58M	429.25M	323.49M	310.60M	598.02M
Total Liabilities	785.46M	724.80M	913.75M	722.37M	616.28M	1.14B
Stockholders Equity	1.38B	1.39B	1.38B	1.26B	1.22B	1.19B
Cash Flow
Free Cash Flow	9.76M	135.55M	-39.26M	39.22M	350.11M	-144.03M
Operating Cash Flow	33.14M	135.93M	-2.02M	81.63M	363.12M	-21.19M
Investing Cash Flow	-27.64M	5.67M	-36.49M	-39.23M	-13.40M	-169.47M
Financing Cash Flow	-5.50M	-141.56M	40.44M	-42.58M	-350.66M	191.44M

Ahlada Engineers Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 47.43
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AHLADA, the sentiment is Negative. The current price of 47.43 is above the 20-day moving average (MA) of 44.97, below the 50-day MA of 48.68, and below the 200-day MA of 56.78, indicating a bearish trend. The MACD of -2.42 indicates Positive momentum. The RSI at 30.90 is Neutral, neither overbought nor oversold. The STOCH value of 20.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:AHLADA.

Ahlada Engineers Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HPIL	59 Neutral	₹1.43B	87.13	―	0.37%	42.23%	-50.43%
AHLADA	58 Neutral	₹525.63M	78.91	―	3.19%	-46.84%	-79.85%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
PNC	53 Neutral	₹301.35M	-0.96	―	―	-38.18%	-174.01%
INFOMEDIA	40 Underperform	₹246.96M	-8.71	―	―	―	―
MANUGRAPH	38 Underperform	₹419.73M	28.20	―	―	27.73%	―

Ahlada Engineers Limited Corporate Events

Ahlada Engineers Cites Non-Applicability of SEBI Demat Compliance Rule for Q3 FY2025

Ahlada Engineers Limited has disclosed that, for the quarter ended 31 December 2025, Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 is not applicable to the company. Its registrar and share transfer agent, Bigshare Services Private Limited, certified that the company’s entire shareholding remains in demat form and that no requests for rematerialisation or dematerialisation were received during the quarter, indicating a stable dematerialised share structure and continued compliance with prevailing depository norms.

Ahlada Engineers Denies Any Undisclosed Developments Behind Share Price Surge

Ahlada Engineers Limited has responded to a query from the National Stock Exchange of India regarding a significant movement in its share price, stating that the change in price and trading volume is purely market driven. The company said it is not aware of any undisclosed information, event, development or unpublished price-sensitive information that could explain the stock’s recent behaviour, and affirmed that it is in compliance with regulatory disclosure requirements and will continue to promptly inform exchanges of any material developments, indicating that the volatility appears to stem from broader market conditions and investor sentiment rather than company-specific actions.