Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹152 Cr.
Stock P/E
55.1
P/B
4.2
Current Price
₹47.9
Book Value
₹ 11.5
Face Value
5
52W High
₹64.5
52W Low
₹ 34
Dividend Yield
0%

Aartech Solonics Overview

Business

Aartech Solonics Ltd. is an Indian company primarily engaged in the manufacturing and distribution of industrial electronic products and solutions. Its core business revolves around power electronics, specializing in areas such as industrial battery chargers, uninterruptible power supplies (UPS), power quality improvement systems, and customized power solutions for various critical applications. The company designs, develops, and produces a range of rectifier systems, inverters, and power converters. It makes money by selling these specialized power electronic equipment and solutions to industrial clients, infrastructure projects, and other businesses requiring reliable and efficient power management systems.

Revenue Mix

While specific revenue percentages for distinct segments are not consistently detailed in public releases, Aartech Solonics' primary revenue streams are derived from its product categories which include:

Industrial Battery Chargers: For various applications requiring DC power.

UPS Systems: Industrial-grade UPS for critical loads.

Power Quality Products: Solutions for harmonics filtration, voltage stabilization, etc.

Customized Power Solutions: Tailored products for specific client requirements.

After-sales Service & Maintenance: Providing support and upkeep for installed systems.

The company caters to sectors like power generation, transmission & distribution, railways, telecommunications, process industries, and defense.

Industry

Aartech Solonics operates within the fragmented but growing Indian Electric Equipment industry, specifically in the niche segment of industrial power electronics and power quality solutions. The industry is characterized by a mix of large integrated players (both domestic and international) and numerous smaller, specialized companies. Aartech Solonics positions itself as a specialized manufacturer and solution provider, focusing on robust, reliable, and often customized products for industrial and critical applications rather than mass-market consumer electronics. It competes on product quality, customization capability, technical expertise, and service rather than purely on price against larger conglomerates.

MOAT

Aartech Solonics' competitive advantages are primarily derived from:

Technical Expertise & Customization: The ability to design and deliver highly specialized and customized power electronic solutions for niche industrial requirements, which many large players may not cater to efficiently. This often builds strong client relationships in specialized sectors.

Product Reliability & Performance: A focus on robust, long-lasting products crucial for industrial and critical infrastructure applications, differentiating it from lower-cost, less durable alternatives.

Established Client Base: Over time, the company has built relationships with industrial clients who value specialized power solutions, leading to repeat business and references.

Niche Focus: By concentrating on specific industrial power electronics, it avoids direct head-on competition with broad-spectrum electrical equipment manufacturers.

Growth Drivers

Industrial Automation & Digitization: Increasing adoption of automation across industries requires reliable and clean power, driving demand for industrial UPS and power quality solutions.

Infrastructure Development: Ongoing government spending on power, railways, telecommunications, and manufacturing infrastructure in India will boost demand for power electronics.

Focus on Power Quality: Growing awareness and stricter regulations regarding power quality in industries to protect sensitive equipment will drive sales of power quality improvement products.

Renewable Energy Integration: As India expands its renewable energy capacity, demand for power conditioning and storage solutions, where Aartech has expertise, could grow.

"Make in India" Initiative: Government thrust on local manufacturing could provide an impetus for domestic players like Aartech Solonics.

Risks

Intense Competition: The industrial power electronics market includes both domestic and international players, leading to pricing pressures and the need for continuous innovation.

Raw Material Price Volatility: Fluctuations in the cost of electronic components, metals, and other raw materials can impact profit margins.

Technological Obsolescence: Rapid advancements in power electronics technology necessitate continuous R&D investment to remain competitive.

Economic Slowdown: A downturn in industrial activity or infrastructure spending can directly impact demand for the company's products.

Client Concentration: Dependence on a few large industrial clients or sectors could pose a risk if those sectors face headwinds.

Management & Ownership

Aartech Solonics Ltd. is a promoter-driven company. The promoters typically hold a significant stake, indicating a strong vested interest in the company's long-term performance. The management team likely comprises individuals with technical and operational expertise in the power electronics domain, reflecting the company's specialized nature. Like many Indian SMEs, decisions and strategic direction are often influenced by the founding family or core promoter group.

Outlook

Aartech Solonics operates in a technically specialized and critical segment of the electrical equipment industry, benefiting from India's broad industrialization and infrastructure thrust. Its niche focus on industrial power electronics and customized solutions provides a degree of insulation from broader market volatility and enables it to cater to high-value applications. The increasing demand for robust power quality and reliable power solutions across sectors like manufacturing, railways, and defense presents a favorable long-term growth trajectory. However, the company faces inherent risks from intense competition, raw material price fluctuations, and the need for continuous technological adaptation. Its ability to maintain its technical edge, expand its client base, and efficiently manage supply chain dynamics will be crucial for sustained growth amidst an evolving industrial landscape.

Aartech Solonics Share Price

Live · BSE / NSE · Inception: 1982
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Aartech Solonics Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 10 7 9 10 11 4 12 7 17 7
Other Income 0 2 1 1 -1 1 0 0 -1 2
Total Income 10 9 10 10 10 6 12 8 17 9
Total Expenditure 9 7 8 9 13 4 9 5 16 6
Operating Profit 1 2 2 2 -3 1 3 3 1 3
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 -1 1 0
Profit Before Tax 1 2 2 1 -3 1 2 1 2 2
Provision for Tax 1 0 0 -0 -1 0 0 1 1 1
Profit After Tax -0 1 2 2 -2 1 2 1 1 2
Adjustments -0 0 0 0 -0 0 0 0 0 0
Profit After Adjustments -0 1 2 2 -2 1 2 1 1 2
Adjusted Earnings Per Share -0.1 0.2 0.5 0.6 -0.5 0.3 0.7 0.2 0.2 0.5

Aartech Solonics Profit & Loss

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 10 14 10 16 22 33 36 43
Other Income 1 1 0 1 2 3 3 1
Total Income 11 15 11 18 24 36 39 46
Total Expenditure 10 14 10 14 21 32 37 36
Operating Profit 1 1 0 4 3 4 3 10
Interest 0 0 0 0 0 1 1 0
Depreciation 0 0 0 0 0 0 1 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0
Profit Before Tax 1 1 -0 3 2 3 2 7
Provision for Tax 0 0 0 1 1 1 -1 3
Profit After Tax 1 1 -0 3 1 1 3 6
Adjustments 0 0 0 0 0 0 0 0
Profit After Adjustments 1 1 -0 3 1 1 3 6
Adjusted Earnings Per Share 0.3 0.2 -0.1 0.9 0.4 0.4 0.9 1.6

Aartech Solonics Balance Sheet

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 17 25 25 27 29 30 31
Minority's Interest -0 -0 -0 0 -0 0 0
Borrowings 0 1 1 0 0 0 0
Other Non-Current Liabilities 0 0 0 1 -1 0 -1
Total Current Liabilities 2 2 4 4 7 11 11
Total Liabilities 20 28 30 32 36 41 41
Fixed Assets 3 4 4 4 4 5 5
Other Non-Current Assets 3 5 8 8 6 6 3
Total Current Assets 13 19 18 20 26 30 34
Total Assets 20 28 30 32 36 41 41

Aartech Solonics Cash Flow

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 2 3 1 1 1 2
Cash Flow from Operating Activities 0 -1 1 2 -5 1 -2
Cash Flow from Investing Activities -1 -6 -4 -1 4 -1 1
Cash Flow from Financing Activities 2 8 -0 -0 1 0 0
Net Cash Inflow / Outflow 1 1 -3 0 0 1 0
Closing Cash & Cash Equivalent 2 3 0 1 1 2 2

Aartech Solonics Ratios

# Mar 2018 Mar 2019 Mar 2020 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.34 0.16 -0.06 0.88 0.45 0.41 0.87
CEPS(Rs) 0.48 0.25 0.03 0.99 0.59 0.56 1.03
DPS(Rs) 0 0 0.11 0.17 0.17 0.17 0.13
Book NAV/Share(Rs) 7.87 7.95 7.78 8.62 9.09 9.3 9.9
Core EBITDA Margin(%) 1.37 1.85 -0.51 15.27 2.91 1.44 -0.59
EBIT Margin(%) 10.47 7.97 1.37 22.05 10.69 9.62 6.28
Pre Tax Margin(%) 9.7 6.8 -0.38 20.96 9.39 7.88 4.77
PAT Margin (%) 7.66 3.66 -1.93 17.12 6.56 4.02 7.6
Cash Profit Margin (%) 10.87 5.58 1.02 19.23 8.58 5.45 8.99
ROA(%) 3.83 2.14 -0.67 9.03 4.19 3.43 6.74
ROE(%) 4.33 2.4 -0.78 10.74 5.05 4.5 9.06
ROCE(%) 5.91 5.11 0.52 13.07 7.78 9.66 6.46
Receivable days 127.44 110.88 175.93 132.25 149.31 111.71 77.17
Inventory Days 143.64 83.49 98.29 63.22 66.34 71.73 93.11
Payable days 34.24 29.32 90.8 87.32 90.7 81.78 99.78
PER(x) 0 47.76 0 0 49.91 124.07 60.29
Price/Book(x) 0 0.97 0.99 0 2.46 5.53 5.3
Dividend Yield(%) 0 0 1.45 0 0.75 0.32 0.24
EV/Net Sales(x) 0.14 1.53 2.57 0.61 3.33 5.04 4.67
EV/Core EBITDA(x) 1.05 15.42 59.44 2.54 26.21 45.58 61.42
Net Sales Growth(%) 0 42.11 -28.09 61.76 32.76 50.98 11.02
EBIT Growth(%) 0 8.19 -87.64 2504.53 -35.66 35.91 -27.53
PAT Growth(%) 0 -32.14 -137.92 1536.14 -49.18 -7.48 110.16
EPS Growth(%) 0 -52.52 -137.92 1536.14 -49.18 -7.49 110.17
Debt/Equity(x) 0 0.04 0.1 0.02 0.09 0.14 0.18
Current Ratio(x) 6.79 11.57 4.35 5 3.43 2.71 3.15
Quick Ratio(x) 4.82 10.06 3.67 4.32 2.74 2.01 2.15
Interest Cover(x) 13.6 6.81 0.78 20.25 8.24 5.55 4.17
Total Debt/Mcap(x) 0 0.04 0.1 0 0.04 0.03 0.03

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +9% +31% +21% —
Operating Profit CAGR -25% -9% +25% —
PAT CAGR +200% 0% +25% —
Share Price CAGR -8% -5% +34% —
ROE Average +9% +6% +6% +5%
ROCE Average +6% +8% +8% +7%

Aartech Solonics Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 52.75 %
FII 0.01 %
DII (MF + Insurance) 0 %
Public (retail) 47.24 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 52.6852.6852.6852.7252.7252.7252.7252.7552.7552.75
FII 0.0100.020000000.01
DII 1.391.391.391.391.671.380.31000
Public 45.9245.9345.9145.8945.6145.946.9747.2547.2547.24
Others 0000000000
Total 100100100100100100100100100100

Aartech Solonics Peer Comparison

Electric Equipment Edit Columns

Aartech Solonics Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Aartech Solonics Pros & Cons

Pros

  • Company has delivered good profit growth of 24% CAGR over last 5 years
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 6% over the last 3 years.
  • Debtor days have increased from 81.78 to 99.78days.
  • Stock is trading at 4.2 times its book value.
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