Airan

₹25.3 0.2 | 0.8%

WEBSITE BSE:543811 NSE : AIRAN 18 May, 12:50

Market Cap ₹316 Cr.

Stock P/E 29.5

P/B 2.6

Current Price ₹25.3

Book Value ₹ 9.7

Face Value 2

52W High ₹37

Dividend Yield 0%

52W Low ₹ 15.1

Edit Ratio

Airan Research see more...

Overview Inc. Year: 1995Industry: IT - Software

Airan Ltd, together with its subsidiaries, provides IT and IT-enabled services in India. It offers cash management, doorstep banking, price collection/counter management, customer onboarding eKYC, cheque truncation/processing offerings, e-stamping/registration charge series, file control, information control, address verification and credit verification, back office control, bookkeeping, software program development, self-controlled superannuation fund, financials and taxation, data migration, payroll processing, belongings and strata control, digital report verification, and automobile inspection services. The organisation established in 1989 and is centred in Ahmedabad, India.

Airan Share Price

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Quarterly Price

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Peer Comparison

Airan Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	21	21	26	21	24	26	26	24	27	25
Other Income	1	2	2	1	0	1	0	1	1	1
Total Income	23	23	27	22	25	27	26	25	27	26
Total Expenditure	18	18	22	19	20	21	21	21	22	21
Operating Profit	4	5	5	3	5	6	5	4	5	5
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	2
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	3	3	4	2	3	5	4	2	4	4
Provision for Tax	1	0	0	0	1	1	1	1	1	1
Profit After Tax	2	3	4	2	3	4	3	2	3	3
Adjustments	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Profit After Adjustments	2	3	3	2	2	3	3	2	3	3
Adjusted Earnings Per Share	0.2	0.2	0.3	0.1	0.2	0.3	0.2	0.1	0.2	0.2

Airan Profit & Loss

#(Fig in Cr.)	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	29	37	49	58	66	87	97	102
Other Income	2	3	3	2	2	6	3	3
Total Income	31	40	52	60	69	93	100	104
Total Expenditure	24	30	40	47	56	75	81	85
Operating Profit	7	11	12	13	13	18	20	19
Interest	1	1	1	1	1	1	1	0
Depreciation	2	2	5	4	4	5	5	5
Exceptional Income / Expenses	0	0	0	0	0	0	0	0
Profit Before Tax	3	7	6	8	8	12	14	14
Provision for Tax	1	2	2	1	2	2	3	4
Profit After Tax	2	5	4	7	6	10	11	11
Adjustments	0	0	0	0	-0	-0	-0	0
Profit After Adjustments	2	5	4	7	6	10	10	11
Adjusted Earnings Per Share	0.2	0.4	0.3	0.5	0.5	0.8	0.8	0.7

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	11%	19%	21%	0%
Operating Profit CAGR	11%	15%	13%	0%
PAT CAGR	10%	16%	17%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	59%	5%	-4%	NA%
ROE Average	10%	9%	9%	9%
ROCE Average	13%	11%	11%	11%

Airan Balance Sheet

#(Fig in Cr.)	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	36	80	75	82	88	104	114
Minority's Interest	0	0	0	0	1	8	8
Borrowings	12	9	6	6	0	2	2
Other Non-Current Liabilities	0	0	8	7	7	7	8
Total Current Liabilities	2	11	7	10	21	14	16
Total Liabilities	51	100	97	105	117	135	148
Fixed Assets	15	57	56	57	65	63	78
Other Non-Current Assets	1	8	0	0	0	0	0
Total Current Assets	34	35	41	47	52	72	70
Total Assets	51	100	97	105	117	135	148

Airan Cash Flow

#(Fig in Cr.)	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	12	1	3	2	2	13
Cash Flow from Operating Activities	-10	2	6	-0	11	11	22
Cash Flow from Investing Activities	1	-14	1	1	-6	-7	-15
Cash Flow from Financing Activities	18	1	-6	-1	-6	8	-1
Net Cash Inflow / Outflow	10	-11	2	-0	-1	12	6
Closing Cash & Cash Equivalent	12	1	3	2	2	13	19

Airan Ratios

#	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	0.18	0.41	0.33	0.54	0.46	0.77	0.83
CEPS(Rs)	0.37	0.58	0.74	0.87	0.82	1.21	1.27
DPS(Rs)	0	0	0	0	0	0	0
Book NAV/Share(Rs)	2.88	3.37	6	6.54	7	8.28	9.1
Core EBITDA Margin(%)	15.92	20.6	18.15	18.33	15.93	13.57	17.07
EBIT Margin(%)	14.5	22.3	13.94	15.2	12.8	14.51	14.84
Pre Tax Margin(%)	10.78	18.48	12.03	13.93	11.64	13.93	14.19
PAT Margin (%)	7.96	13.58	8.54	11.66	8.88	11.49	11.01
Cash Profit Margin (%)	16.13	19.43	19.15	18.83	15.42	17.34	16.3
ROA(%)	4.54	6.75	4.21	6.66	5.3	7.95	7.59
ROE(%)	6.39	12.98	7.08	8.58	6.95	10.5	9.87
ROCE(%)	8.61	15.71	9.44	9.81	8.93	12.28	12.7
Receivable days	176.41	105.61	64.01	77.7	103.22	85.25	70.72
Inventory Days	0	0	0	0	0	0	0
Payable days	447.57	573.07	0	0	2244.06	0	0
PER(x)	36.84	58.41	91.93	17.57	33.78	23.53	16.81
Price/Book(x)	2.35	7.03	5.08	1.45	2.23	2.19	1.53
Dividend Yield(%)	0	0	0	0	0	0	0
EV/Net Sales(x)	2.95	8.31	8.02	2.2	3.06	2.5	1.64
EV/Core EBITDA(x)	13.02	29.53	32.68	9.83	15.85	12.3	8.17
Net Sales Growth(%)	0	29.21	30.07	18.86	14.94	31.65	11.58
EBIT Growth(%)	0	98.7	-18.69	29.65	-3.25	49.27	14.08
PAT Growth(%)	0	120.33	-18.22	62.28	-12.47	70.41	6.95
EPS Growth(%)	0	120.39	-18.21	62.23	-14.13	66.54	7.74
Debt/Equity(x)	0.35	0.36	0.15	0.13	0.11	0.05	0.04
Current Ratio(x)	14.42	3.36	5.6	4.71	2.53	5.05	4.27
Quick Ratio(x)	14.42	3.36	5.6	4.71	2.53	5.05	4.27
Interest Cover(x)	3.89	5.83	7.29	11.97	11.08	24.85	23
Total Debt/Mcap(x)	0.15	0.05	0.03	0.09	0.05	0.02	0.03

Airan Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	74.95	74.37	74.37	72.42	72.42	72.42	72.42	72.38	72.37	72.37
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	25.05	25.63	25.63	27.58	27.58	27.58	27.58	27.62	27.63	27.63
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	9.37	9.3	9.3	9.05	9.05	9.05	9.05	9.05	9.05	9.05
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	3.13	3.2	3.2	3.45	3.45	3.45	3.45	3.45	3.45	3.45
Others	0	0	0	0	0	0	0	0	0	0
Total	12.5	12.5	12.5	12.5	12.5	12.5	12.5	12.5	12.5	12.5

Pros

Company is almost debt free.

Cons

Company has a low return on equity of 9% over the last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.