Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹1208 Cr.
Stock P/E
30.9
P/B
5.1
Current Price
₹504
Book Value
₹ 99.8
Face Value
10
52W High
₹593.9
52W Low
₹ 246
Dividend Yield
0%

Airfloa Rail Techno. Overview

Business

Airfloa Rail Technology Ltd. is an Indian company operating in the Engineering - Industrial Equipments sector, specifically focusing on rail technology. Based on its name and industry, the company likely specializes in the design, manufacturing, supply, and potentially installation and maintenance of various equipment, components, or systems for the railway industry. Its core business model would be B2B (Business-to-Business), primarily serving railway operators (such as Indian Railways), metro corporations, railway infrastructure development companies, and other industrial clients involved in rail projects. The company likely makes money through the sale of its manufactured products, execution of project contracts, and potentially through after-sales services, maintenance contracts, or technology licensing.

Revenue Mix

Specific segment data for Airfloa Rail Technology Ltd. is not available. However, based on the "Rail Technology" focus, potential revenue segments could include:

Rolling Stock Components: Supplying parts for locomotives, coaches, and wagons (e.g., braking systems, interior fittings, bogies, signaling equipment integrated into rolling stock).

Track & Infrastructure Equipment: Providing machinery or components for track laying, maintenance, electrification, and civil structures.

Signaling & Telecommunications: Developing and supplying advanced signaling systems, train control systems, and communication solutions.

Maintenance & Services: Offering spare parts, upgrades, and maintenance support for installed systems and equipment.

Without specific data, the contribution of each segment to the overall revenue mix remains unknown.

Industry

The Indian railway industry is one of the largest globally, driven significantly by government investment and modernization initiatives from Indian Railways, along with growing urban metro rail projects. It is characterized by long project cycles, high capital expenditure, stringent safety standards, and considerable regulatory oversight. The industry includes a mix of large public sector undertakings, established private domestic players, and international firms often operating through joint ventures.

Without specific market share or product details, Airfloa Rail Technology Ltd.'s exact positioning against peers is unclear. It could be a specialized niche player, a significant supplier to Indian Railways for specific components, or a broader technology provider. Competition would likely come from other domestic engineering firms, larger diversified industrial equipment manufacturers, and global rail technology giants who have a presence in India.

MOAT

Without specific information, it's difficult to definitively identify a durable competitive advantage for Airfloa Rail Technology Ltd. However, potential moats in this industry could include:

High Switching Costs: For critical rail infrastructure or complex integrated systems, changing suppliers can be costly and disruptive due to rigorous testing, safety approvals, and integration challenges.

Specialized Expertise & Technology: Proprietary technology, patented designs, or deep engineering know-how specific to rail applications could create a barrier.

Regulatory Approvals & Certifications: Obtaining necessary safety and performance certifications from Indian Railways or other regulatory bodies can be a long and complex process, effectively limiting new entrants.

Established Relationships & Reputation: Long-standing relationships with key clients like Indian Railways, built on reliability and performance, can be a significant advantage.

Economies of Scale: For manufacturers of high-volume components, scale could lead to cost advantages.

The presence and strength of these advantages for Airfloa would need specific data to confirm.

Growth Drivers

Key factors that can drive growth for Airfloa Rail Technology Ltd. over the next 3-5 years include:

Indian Railways Modernization & Expansion: Continued significant government investment in upgrading and expanding railway infrastructure, including high-speed rail, dedicated freight corridors, and electrification.

Urbanization & Metro Rail Projects: Rapid expansion of metro rail networks across various Indian cities.

Technological Upgrades: Adoption of advanced signaling systems (e.g., Kavach), automation, digitalization, and new-generation rolling stock.

'Make in India' Initiative: Government emphasis on promoting domestic manufacturing and local sourcing for railway components and technology.

Demand for Sustainable Transport: Growing preference for rail as an environmentally friendly and efficient mode of transport for both passengers and freight.

Risks

Reliance on Government Spending: A significant portion of the Indian railway sector's growth is tied to government funding and policy, making the company susceptible to budget cuts or shifts in priorities.

Long Project Cycles & Execution Risk: Railway projects typically have very long lead times and execution periods, leading to working capital demands and exposure to project delays or cost overruns.

Intense Competition: The sector attracts both domestic and international players, which can lead to pricing pressure and margin erosion.

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

Raw Material Price Volatility: Fluctuations in commodity prices (e.g., steel, other metals) can impact manufacturing costs and profitability.

Regulatory & Safety Compliance: Failure to meet stringent safety and quality standards can lead to penalties, reputational damage, and loss of contracts.

Management & Ownership

Specific details regarding the promoters, management team quality, or ownership structure of Airfloa Rail Technology Ltd. are not provided. Typically, in Indian companies of this nature, promoters play a crucial role in strategic direction and vision. The quality of management would be assessed based on their industry experience, track record of project execution, financial stewardship, and ability to navigate the complex regulatory and competitive landscape of the rail sector.

Outlook

Airfloa Rail Technology Ltd. operates in a sector with substantial long-term growth potential, fueled by India's ambitious infrastructure development agenda and the continuous modernization of its railway network. The government's focus on enhancing rail capacity, speed, and safety presents a significant tailwind for companies like Airfloa that provide specialized technology and equipment.

However, the company also faces typical industry challenges, including high capital intensity, long project gestation periods, and a dependency on government spending cycles. Intense competition, the need for continuous technological innovation, and adherence to rigorous safety and quality standards are critical for sustained success. The company's ability to secure large-scale contracts, manage project execution efficiently, and maintain a competitive cost structure will be key determinants of its future performance.

Airfloa Rail Techno. Share Price

Live · BSE · Inception: 1998
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Airfloa Rail Techno. Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Airfloa Rail Techno. Profit & Loss

#(Fig in Cr.) Mar 2025 Mar 2026 TTM
Net Sales 192 320
Other Income 0 0
Total Income 193 320
Total Expenditure 144 255
Operating Profit 49 65
Interest 11 9
Depreciation 3 3
Exceptional Income / Expenses 0 0
Profit Before Tax 35 53
Provision for Tax 9 14
Profit After Tax 26 39
Adjustments 0 0
Profit After Adjustments 26 39
Adjusted Earnings Per Share 14.8 16.3

Airfloa Rail Techno. Balance Sheet

#(Fig in Cr.) Mar 2025 Mar 2026
Shareholder's Funds 111 239
Minority's Interest 1 1
Borrowings 1 4
Other Non-Current Liabilities 2 2
Total Current Liabilities 142 157
Total Liabilities 257 403
Fixed Assets 37 49
Other Non-Current Assets 9 18
Total Current Assets 211 336
Total Assets 257 403

Airfloa Rail Techno. Cash Flow

#(Fig in Cr.) Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 2 4
Cash Flow from Operating Activities -17 -57
Cash Flow from Investing Activities -6 -22
Cash Flow from Financing Activities 24 88
Net Cash Inflow / Outflow 2 9
Closing Cash & Cash Equivalent 4 13

Airfloa Rail Techno. Ratios

# Mar 2025 Mar 2026
Earnings Per Share (Rs) 14.76 16.33
CEPS(Rs) 16.21 17.78
DPS(Rs) 0 0
Book NAV/Share(Rs) 63.63 99.77
Core EBITDA Margin(%) 25.1 20.18
EBIT Margin(%) 23.94 19.25
Pre Tax Margin(%) 18.18 16.48
PAT Margin (%) 13.39 12.25
Cash Profit Margin (%) 14.71 13.33
ROA(%) 10.03 11.87
ROE(%) 23.19 22.35
ROCE(%) 26.91 25.71
Receivable days 242.09 195.07
Inventory Days 118.46 77
Payable days 206.58 107.93
PER(x) 0 15.59
Price/Book(x) 0 2.55
Dividend Yield(%) 0 0
EV/Net Sales(x) 0.38 2.08
EV/Core EBITDA(x) 1.51 10.24
Net Sales Growth(%) 0 66.12
EBIT Growth(%) 0 33.58
PAT Growth(%) 0 51.91
EPS Growth(%) 0 10.66
Debt/Equity(x) 0.54 0.29
Current Ratio(x) 1.48 2.14
Quick Ratio(x) 1.04 1.68
Interest Cover(x) 4.16 6.96
Total Debt/Mcap(x) 0 0.11

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +67% — — —
Operating Profit CAGR +33% — — —
PAT CAGR +50% — — —
Share Price CAGR +19% — — —
ROE Average +22% +23% +23% +23%
ROCE Average +26% +26% +26% +26%

Airfloa Rail Techno. Shareholding Pattern

Latest · Sep 2026
100% held
Promoters 54.2 %
FII 0.01 %
DII (MF + Insurance) 1.24 %
Public (retail) 44.55 %
# Jun 2025 Sep 2025 Mar 2026 Sep 2026
Promoter 54.254.254.254.2
FII 4.214.210.090.01
DII 7.97.90.981.24
Public 33.6933.6944.7344.55
Others 0000
Total 100100100100

Airfloa Rail Techno. Peer Comparison

Engineering - Industrial Equipments Edit Columns

Airfloa Rail Techno. Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Airfloa Rail Techno. Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 23%
  • Debtor days have improved from 206.58 to 107.93days.
  • Company is almost debt free.

Cons

  • Stock is trading at 5.1 times its book value.
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