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Aplab Overview

Aplab Limited, established in 1964, serves as a leading manufacturer and exporter of iodine derivatives. Their product divisions include test and measurement instruments, power conversion and controls, UPS systems, and banking and retail automation. The company has multiple product Divisions namely Test and Measurement Instruments, Power Conversion & Controls, UPS Systems, and Banking & Retail Automation. Aplab is listed on the Bombay Stock Exchange (BSE) and has sales and support offices across India. Aplab Limited is promoted by a team of exp...Read More

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Aplab Key Financials

Market Cap ₹216 Cr.

Stock P/E 819.8

P/B 7.4

Current Price ₹86.1

Book Value ₹ 11.6

Face Value 10

52W High ₹94.8

Dividend Yield 0%

52W Low ₹ 29.7

Aplab Share Price

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Volume
Price

Aplab Quarterly Price

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Aplab Peer Comparison

Aplab Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 11 12 18 10 14 16 24 15 17 11
Other Income 0 0 1 0 2 0 3 0 0 1
Total Income 11 12 18 10 16 16 27 16 17 13
Total Expenditure 9 11 16 9 13 24 25 14 14 11
Operating Profit 2 1 2 1 2 -8 1 2 3 1
Interest 1 0 1 1 1 1 1 1 1 0
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 -1 0 0 0 0 0 0 0
Profit Before Tax 0 0 0 0 2 -8 0 1 2 1
Provision for Tax 0 0 0 0 0 0 -7 0 0 0
Profit After Tax 0 0 0 0 2 -8 7 1 2 1
Adjustments 0 0 -0 0 0 0 0 0 0 0
Profit After Adjustments 0 0 0 0 2 -8 7 1 2 1
Adjusted Earnings Per Share 0.1 0.2 0.3 0.1 0.8 -4.1 3.4 0.7 1 0.3

Aplab Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 74 71 72 61 53 52 53 51 51 50 64 67
Other Income 1 1 1 0 0 0 1 0 1 1 5 4
Total Income 75 72 73 61 54 52 54 52 53 50 69 73
Total Expenditure 77 77 75 65 56 47 48 44 46 45 72 64
Operating Profit -2 -5 -1 -4 -2 5 7 7 7 5 -3 7
Interest 11 11 11 11 8 7 7 5 4 4 3 3
Depreciation 2 2 2 1 1 1 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 1 0 18 3 0 -1 -2 -1 0 0
Profit Before Tax -14 -18 -14 -16 7 0 -0 0 0 1 -7 4
Provision for Tax 0 0 0 0 1 0 0 0 0 0 -7 -7
Profit After Tax -14 -18 -14 -16 5 0 -0 0 0 1 0 11
Adjustments 0 0 1 2 0 0 0 0 1 0 0 0
Profit After Adjustments -14 -18 -12 -14 5 0 -0 0 1 1 0 11
Adjusted Earnings Per Share -12.3 -15 -11.6 -13.6 4.6 0.2 -0.3 0.1 0.1 0.4 0.1 5.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 28% 8% 4% -1%
Operating Profit CAGR -160% NAN% NAN% 0%
PAT CAGR -100% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 175% 66% 64% 22%
ROE Average 3% 1% 1% -56%
ROCE Average -9% 6% 9% 7%

Aplab Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 12 -6 -18 -33 -27 -26 -26 -21 -20 10 10
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 7 0 0 0 0 0 0 0 0 0 5
Other Non-Current Liabilities 19 11 19 20 19 20 19 19 19 18 2
Total Current Liabilities 89 126 126 101 120 109 106 77 85 53 46
Total Liabilities 127 132 127 114 113 103 99 76 85 81 64
Fixed Assets 55 53 52 17 4 4 3 6 7 7 7
Other Non-Current Assets 20 29 38 36 35 33 33 32 18 19 11
Total Current Assets 52 49 37 27 74 67 62 38 59 55 46
Total Assets 127 132 127 114 113 103 99 76 85 81 64

Aplab Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 0 -0 6 3 4 4 4 3 1 0 1
Cash Flow from Operating Activities -4 -6 4 -17 -5 -23 -1 19 -3 0 2
Cash Flow from Investing Activities 3 0 -0 -2 10 32 -0 -0 0 0 -1
Cash Flow from Financing Activities -2 12 -7 20 -5 -8 0 -19 3 -0 1
Net Cash Inflow / Outflow -3 6 -3 1 -0 -0 -1 -1 -0 0 2
Closing Cash & Cash Equivalent -2 6 3 4 4 4 3 2 0 1 3

Aplab Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -12.33 -15.04 -11.58 -13.57 4.63 0.18 -0.33 0.11 0.13 0.44 0.13
CEPS(Rs) -10.83 -13.65 -10.24 -12.34 5.73 1.05 -0.01 0.34 0.4 0.69 0.37
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 10.25 -4.78 -15.43 -27.83 -22.78 -22.56 -22.3 -12.75 -12.17 4.02 5.07
Core EBITDA Margin(%) -3.58 -7.82 -3.7 -6.44 -4.66 9.05 9.93 13.52 10.9 9.15 -12.53
EBIT Margin(%) -4.94 -8.44 -3.05 -8.15 27.68 13.83 11.82 10.67 7.85 8.74 -5.29
Pre Tax Margin(%) -18.73 -23.51 -17.68 -25.59 12.52 0.4 -0.73 0.34 0.4 1.61 -10.32
PAT Margin (%) -18.73 -23.51 -17.68 -25.59 10.17 0.4 -0.73 0.34 0.4 1.61 0.41
Cash Profit Margin (%) -16.45 -21.34 -15.65 -23.27 12.59 2.38 -0.02 1.07 1.27 2.5 1.18
ROA(%) -10.41 -13.62 -10.48 -13.15 4.77 0.19 -0.38 0.2 0.25 0.96 0.37
ROE(%) -74.37 -549.84 0 0 0 0 0 0 0 0 2.99
ROCE(%) -4.06 -7.75 -3.3 -9.97 36.25 16.12 13.84 15.12 14.12 13.03 -8.82
Receivable days 110.88 93.29 89.41 69.57 86.82 134.95 117.5 116.27 168.51 194.38 127.42
Inventory Days 164.07 126.71 72.19 75.13 92.16 102.71 107.85 108.74 141.82 199.73 136.19
Payable days 50.69 74.83 70.51 91.25 167.23 183.71 152.99 168.14 169.15 194.55 95.02
PER(x) 0 0 0 0 0.68 13.1 0 145.1 147.92 102.81 240.07
Price/Book(x) 1.22 -1.97 -0.73 -0.31 -0.14 -0.1 -0.33 -1.2 -1.53 11.32 6.11
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 1.21 1.25 1.27 1.25 1.32 1.37 1.47 1.38 1.53 2.2 1.41
EV/Core EBITDA(x) -44.05 -18.85 -62.2 -21.15 -32.45 14.06 11.69 9.72 11.81 20.21 -31.02
Net Sales Growth(%) -21.93 -4.42 1.5 -15.32 -12.82 -3.04 2.75 -3.12 0.25 -3.79 28.52
EBIT Growth(%) -135.18 -65.97 63.01 -116.44 391.49 -51.55 -12.16 -12.58 -26.21 7.13 -177.79
PAT Growth(%) -2563.62 -21.9 23.01 -17.22 134.11 -96.17 -286.49 144.5 18.82 290.36 -66.98
EPS Growth(%) -2563.62 -21.9 23.01 -17.22 134.11 -96.17 -286.49 131.97 18.8 252.09 -70.88
Debt/Equity(x) 6.09 -14.92 -4.53 -2.16 -2.63 -2.7 -2.75 -2.29 -2.54 2.56 2.89
Current Ratio(x) 0.58 0.39 0.3 0.27 0.61 0.61 0.59 0.49 0.7 1.04 1.02
Quick Ratio(x) 0.21 0.24 0.2 0.14 0.51 0.46 0.44 0.29 0.41 0.49 0.62
Interest Cover(x) -0.36 -0.56 -0.21 -0.47 1.83 1.03 0.94 1.03 1.05 1.23 -1.05
Total Debt/Mcap(x) 4.98 7.59 6.22 6.99 19.05 26.24 8.31 1.9 1.66 0.32 0.47

Aplab Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 63.28 63.28 63.28 63.28 67.6 67.6 67.6 43.83 43.83 43.83
FII 0 0 0 0 0 0 0 0 0 0
DII 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.01 0.01 0.01
Public 36.7 36.7 36.7 36.7 32.38 32.38 32.38 56.16 56.16 56.16
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Aplab News

Aplab Pros & Cons

Pros

  • Debtor days have improved from 194.55 to 95.02days.

Cons

  • Promoter holding is low: 43.83%.
  • Company has a low return on equity of 1% over the last 3 years.
  • Stock is trading at 7.4 times its book value.
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