Arfin India Ltd (IN:ARFIN)
:ARFIN
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Arfin India Ltd
(ARFIN)
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Rating:59Neutral
Price Target:
₹89.00
▲(39.35% Upside)
Action:Reiterated
Date:05/13/26
The score is driven mainly by strong technical momentum and a sharp FY2026 revenue/margin improvement, but is held back by weak and inconsistent cash generation (negative recent free cash flow and very low cash conversion) and a high P/E valuation.
Positive Factors
Revenue & margin uplift
The sharp FY2026 revenue jump and margin expansion (gross margin to 13.3%, operating margin to 6.7%) indicate a meaningful demand/volume tailwind and improved pricing or mix. If sustained, this enhances profit-generation capacity and supports reinvestment in operations over the medium term.
Negative Factors
Weak cash conversion & negative FCF
Operating cash flow is tiny relative to reported earnings and free cash flow turned negative, signaling working-capital strain or cash timing gaps. Persistent poor cash conversion undermines earnings quality and reduces internal funding for capex, debt paydown or cushions against demand shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & margin uplift
The sharp FY2026 revenue jump and margin expansion (gross margin to 13.3%, operating margin to 6.7%) indicate a meaningful demand/volume tailwind and improved pricing or mix. If sustained, this enhances profit-generation capacity and supports reinvestment in operations over the medium term.
Read all positive factors
Arfin India Ltd (ARFIN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹16.50B
Dividend Yield0.16%
Average Volume (3M)41.69K
Price to Earnings (P/E)102.2
Beta (1Y)1.15
Revenue Growth0.36%
EPS Growth64.76%
CountryIN
Employees225
SectorBasic Materials
Sector Strength58
IndustryAluminum
Share Statistics
EPS (TTM)0.18
Shares Outstanding168,722,490
10 Day Avg. Volume22,731
30 Day Avg. Volume41,687
Financial Highlights & Ratios
PEG Ratio1.13
Price to Book (P/B)7.19
Price to Sales (P/S)1.98
P/FCF Ratio-112.18
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Arfin India Ltd Business Overview & Revenue Model
Company Description
Established in Gandhinagar, India, in 1992, Arfin India Limited is a prominent manufacturer and trader specializing in both ferrous and non-ferrous metals. The company's extensive product range includes aluminum wire rods, various aluminum alloy i...
How the Company Makes Money
Arfin India Ltd makes money primarily by selling aluminium-based de-oxidants and related aluminium alloy products used as consumables in steelmaking and metallurgical processes. Revenue is generated through (1) domestic sales to steel manufacturer...
Arfin India Ltd Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
32
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.78B | 6.18B | 6.13B | 5.32B | 5.43B | 5.25B |
| Gross Profit | 49.66M | 820.75M | 584.84M | 505.90M | 461.82M | 423.66M |
| EBITDA | 164.05M | 470.83M | 368.80M | 307.89M | 270.56M | 235.63M |
| Net Income | 29.87M | 154.51M | 91.46M | 82.20M | 103.17M | 91.87M |
Balance Sheet | ||||||
| Total Assets | 3.67B | 3.71B | 3.44B | 2.85B | 2.67B | 2.47B |
| Cash, Cash Equivalents and Short-Term Investments | 61.16M | 89.56M | 6.45M | 4.10M | 75.32M | 849.00K |
| Total Debt | 1.49B | 1.29B | 1.17B | 1.20B | 1.12B | 1.12B |
| Total Liabilities | 2.07B | 2.01B | 1.87B | 1.89B | 1.79B | 1.69B |
| Stockholders Equity | 1.60B | 1.70B | 1.57B | 963.59M | 880.85M | 776.45M |
Cash Flow | ||||||
| Free Cash Flow | -131.20M | -109.16M | -271.42M | 13.38M | 209.70M | 78.09M |
| Operating Cash Flow | -32.06M | 42.04M | -212.05M | 46.45M | 294.00M | 112.84M |
| Investing Cash Flow | -71.71M | -150.02M | -84.37M | -35.75M | -82.19M | -34.77M |
| Financing Cash Flow | 50.22M | 104.92M | 298.75M | -81.98M | -137.54M | -77.95M |
Arfin India Ltd Technical Analysis
Positive
63.87
Price Trends
93.07
Negative
84.35
Positive
70.75
Positive
Market Momentum
1.35
Negative
51.42
Neutral
75.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ARFIN, the sentiment is Positive. The current price of 63.87 is below the 20-day moving average (MA) of 91.24, below the 50-day MA of 93.07, and below the 200-day MA of 70.75, indicating a neutral trend. The MACD of 1.35 indicates Negative momentum. The RSI at 51.42 is Neutral, neither overbought nor oversold. The STOCH value of 75.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ARFIN.
Arfin India Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹10.39B | 12.74 | ― | 0.38% | 7.53% | 36.87% | |
64 Neutral | ₹1.28B | 39.39 | ― | 10.99% | ― | ― | |
62 Neutral | ₹7.37B | 22.75 | ― | 0.78% | 26.80% | -37.20% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | ₹16.50B | 102.20 | ― | 0.16% | 0.36% | 64.76% | |
55 Neutral | ₹13.92B | 141.90 | ― | ― | 10.11% | 28.16% | |
52 Neutral | ₹6.62B | 15.50 | ― | 3.24% | -1.25% | -63.60% |
* Basic Materials Sector Average
IN:ARFIN
Arfin India Ltd
93.01
68.75
283.39%
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137.80
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IN:KUANTUM
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74.79
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IN:MAHASTEEL
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842.35
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142.05%
IN:MMP
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3.96%
IN:OCCL
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124.75
-103.20
-45.27%
Arfin India Ltd Corporate Events
Arfin India Secures Clean SEBI Insider Trading Compliance Certificate
Apr 15, 2026
Arfin India Ltd has submitted a Structured Digital Database compliance certificate under SEBI’s Prohibition of Insider Trading Regulations for the quarter and financial year ended 31 March 2026. The independent practicing company secretary c...
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.