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Airo Lam Ltd. (IN:AIROLAM)
:AIROLAM
India Market
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Airo Lam Ltd. (AIROLAM) AI Stock Analysis

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IN:AIROLAM

Airo Lam Ltd.

(AIROLAM)

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Neutral 54 (OpenAI - 5.2)
Rating:54Neutral
Price Target:
₹86.00
▼(-13.75% Downside)
Action:Reiterated
Date:05/29/26
The score is driven primarily by mixed financial performance: steady revenue growth and a 2026 cash-flow/profit rebound are offset by elevated leverage and prior multi-year cash-flow volatility. Technicals add caution due to a weak longer-term trend and negative MACD, while valuation is moderately supportive with a mid-teens P/E.
Positive Factors
Consistent Revenue Growth
The company has delivered steady top-line growth over the period with a ~7.8% increase in 2026. Durable revenue expansion supports capacity utilization, distributor relationships and scale advantages in laminates, underpinning longer-term cash generation potential even through cycles.
Negative Factors
Elevated Leverage
Leverage has trended up with debt exceeding equity (2025 D/E ~1.23), raising financial risk. High indebtedness reduces flexibility to invest or absorb demand shocks, increases interest burdens, and makes earnings and cash-flow volatility more damaging to long-term solvency.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
The company has delivered steady top-line growth over the period with a ~7.8% increase in 2026. Durable revenue expansion supports capacity utilization, distributor relationships and scale advantages in laminates, underpinning longer-term cash generation potential even through cycles.
Read all positive factors

Airo Lam Ltd. (AIROLAM) vs. iShares MSCI India ETF (INDA)

Airo Lam Ltd. Business Overview & Revenue Model

Company Description
Airo Lam Limited, an Indian company founded in 2007 and headquartered in Prantij, focuses on the manufacturing and distribution of laminate sheets and plywood boards for both residential and commercial applications. Their diverse selection of lami...
How the Company Makes Money
AIROLAM primarily makes money by manufacturing and selling decorative laminates and related surface products to B2B customers (e.g., distributors/stockists, dealers/retail channels, furniture manufacturers, and interior contractors) and, where app...

Airo Lam Ltd. Financial Statement Overview

Summary
Revenue growth is consistent and 2026 shows a rebound in profitability, but earnings quality is uneven due to prior margin compression (notably 2025). Balance sheet risk is elevated with rising leverage (debt exceeding equity recently), and cash flows have been volatile with deeply negative free cash flow in 2024–2025 despite a strong 2026 recovery.
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
48
Neutral
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue2.26B2.43B2.14B2.06B1.99B1.69B
Gross Profit742.00M618.97M571.49M588.58M670.01M556.30M
EBITDA213.31M193.59M160.99M200.09M172.86M152.49M
Net Income75.61M55.13M27.03M78.43M73.95M64.87M
Balance Sheet
Total Assets2.32B2.26B2.16B1.92B1.62B1.59B
Cash, Cash Equivalents and Short-Term Investments5.15M18.94M21.82M17.80M25.59M45.52M
Total Debt890.23M822.85M902.84M794.25M632.04M505.69M
Total Liabilities1.56B1.49B1.44B1.22B981.56M1.03B
Stockholders Equity767.25M785.76M733.10M704.69M640.13M562.42M
Cash Flow
Free Cash Flow54.31M79.96M-110.28M-132.24M68.29M-97.19M
Operating Cash Flow63.04M107.15M66.51M-5.58M86.57M-68.05M
Investing Cash Flow-8.62M-27.51M-175.21M-126.70M-48.88M-31.55M
Financing Cash Flow-52.45M-80.00M36.28M109.98M84.40M97.36M

Airo Lam Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price99.71
Price Trends
50DMA
84.20
Positive
100DMA
87.50
Negative
200DMA
96.47
Negative
Market Momentum
MACD
-0.10
Negative
RSI
55.63
Neutral
STOCH
70.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AIROLAM, the sentiment is Positive. The current price of 99.71 is above the 20-day moving average (MA) of 82.85, above the 50-day MA of 84.20, and above the 200-day MA of 96.47, indicating a neutral trend. The MACD of -0.10 indicates Negative momentum. The RSI at 55.63 is Neutral, neither overbought nor oversold. The STOCH value of 70.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:AIROLAM.

Airo Lam Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
70
Outperform
₹4.65B11.390.52%13.99%228.38%
68
Neutral
₹1.82B17.421.64%8.63%119.27%
62
Neutral
$20.33B14.63-3.31%3.23%1.93%-12.26%
57
Neutral
₹4.06B12.035.42%
57
Neutral
₹1.30B7.820.74%148.60%
54
Neutral
₹1.27B29.4513.53%101.58%
52
Neutral
₹2.93B32.730.46%-25.39%-37.39%
* Consumer Defensive Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:AIROLAM
Airo Lam Ltd.
85.97
-26.18
-23.34%
IN:KANPRPLA
Kanpur Plastipack Limited
186.50
-11.40
-5.76%
IN:KOTHARIPRO
Kothari Products Limited.
68.02
-16.98
-19.98%
IN:RPPL
Rajshree Polypack Ltd.
18.05
-8.89
-33.00%
IN:SAKUMA
Sakuma Exports Limited
1.90
-1.27
-40.06%
IN:TAINWALCHM
Tainwala Chemicals & Plastics (India) Ltd
200.00
-14.10
-6.59%

Airo Lam Ltd. Corporate Events

Airo Lam Publishes FY26 Audited Results in Newspapers, Notifies NSE
May 28, 2026
Airo Lam Limited has published its standalone and consolidated audited financial results for the year ended March 31, 2026 in Business Standard (English) and Jaihind (Gujarati), in compliance with Regulation 33 of SEBI’s Listing Obligations ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: May 29, 2026