Sector Alpha Week of 2026-07-24
Sector Alpha — machine-written from the numbers · Data as of 2026-07-24

A-1 Ltd

A1L
Trading

A-1 Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.

The sharpest disagreement: annual EPS moved +300.0% against a +79.7% price move — the market has not yet caught up with the delivery.

The price is in a confirmed uptrend (65 weeks in) while the P/E sits at the 92nd percentile of its own 7-year range. Underneath, the last four quarters read deteriorating — profit −4.0% year on year, and 211% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Deteriorating
partial read
Price
₹20.6
+79.7% 1Y
P/E
383.0×
92nd pctile
of its own 7-year range
Revenue (Dec 25)
₹69.8 Cr
−6.1% YoY
Profit (Dec 25)
₹1.0 Cr
−4.0% YoY
Operating margin
2.9%
−1.0 pp YoY
ROCE
11%
FY25
Cash conversion
211%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

A-1 Ltd trades at ₹20.6, in a confirmed uptrend and 65 weeks into that stage. That is −30.2% against its own 200-day average. It sits at 15% of a 52-week range of ₹11 to ₹70. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).

Today the stock is in a confirmed uptrend — week 65 of stage 2, confirmed. At ₹20.6 it trades −30.2% versus its 200-day average and sits at 15% of its 52-week range (₹11–₹70).

Mar 26: ₹20.6 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−30.2% versus the 200-day line, week 65 of stage 2
Price50-day avg200-day avg
S2S4S2₹75.5₹57.2₹39.0₹20.7₹2.4₹21₹30Mar 23Dec 23Aug 24May 25Mar 26
S2S4S2₹75.5₹57.2₹39.0₹20.7₹2.4₹21₹30Mar 23Aug 24Mar 26
Beating or trailing, week by week since 2018 Each cell is one week from 2018 to now (381 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Oct 18Mar 26

Against the market, two honest reads. Cumulative: over the last 7.4 years the stock moved +1,436% while the NIFTY 500 moved +157% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-01-23) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 92nd percentile of its own range.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

A-1 Ltd trades at 383.0× P/E, at the pricey end of its own range (92nd percentile). Its long-run median P/E is 74.0×, measured across 7.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 383.0× is at the pricey end of its own range (92nd percentile), against a long-run median of 74.0× measured over 7.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 383.0× vs a 74.0× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 7.4-year window; loss-period spikes above 222× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
at the pricey end of its own range (92nd percentile)
P/EMedianEPS (TTM) (quarterly)
238.7×₹0.17179.1×₹0.13119.4×₹0.0959.7×₹0.040.0×₹0.00×222.00×₹0Oct 18Sep 20Jul 22May 24Mar 26
238.7×₹0.17179.1×₹0.13119.4×₹0.0959.7×₹0.040.0×₹0.00×222.00×₹0Oct 18Jul 22Mar 26
P/E
383.0×
92nd percentile of 7y

Why the multiple sits where it does: over the past year annual EPS moved +300.0% against a +79.7% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +64.5%/yr price move, ~+20.1%/yr came from earnings growth and ~+44.4 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

03 · Stage: Deteriorating

Stage: Deteriorating Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

A-1 Ltd reads as deteriorating on its fundamental arc. Deteriorating — revenue and profit growth are shrinking (revenue growth −6.1% latest (single-quarter readings) against +78.0% at its 12-quarter best), ROCE holding at 11.0%. The read is built from 9 quarters across 3 curves, on partial evidence.

Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
90%331%53%218%16%104%−21%−10%−57%−124%%%−6.1%−4%−37.5%Mar 23Jun 24Dec 25
90%331%53%218%16%104%−21%−10%−57%−124%%%−6.1%−4%−37.5%Mar 23Jun 24Dec 25
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
16%13%9.5%6.3%3.1%%11%FY22FY23FY25
16%13%9.5%6.3%3.1%%11%FY22FY23FY25
Revenue growth
Falling
latest −6.1% · span −47.2% to +78.0%
Profit growth
Falling
latest −4.0% · span −92.8% to +100.0%
ROCE
Stuck low
latest 11.0% · span 4.0%–15.0%

🚨 Why it matters: falling curves mean every cheap-looking ratio below needs a discount for direction.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Growth, year by year: revenue +56.9% in FY25, profit +300.0% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
126%331%82%218%39%105%−4.8%−8.7%−48%−122%%%56.9%300%FY15FY20FY25
126%331%82%218%39%105%−4.8%−8.7%−48%−122%%%56.9%300%FY15FY20FY25
TTM growth by quarter Trailing-twelve-month growth versus the year-ago TTM, per quarter, %: revenue (left axis); profit and EPS (right axis). The acceleration read compares the last 4 quarters (+8.3%) with the last 8 annualized (+18.3%).
revenue rolling over, profit rolling over
Revenue TTM YoYProfit TTM YoYEPS TTM YoY
64%327%46%229%28%131%11%33%−7.1%−65%%%8.3%−30.6%Mar 23Jun 24Dec 25
64%327%46%229%28%131%11%33%−7.1%−65%%%8.3%−30.6%Mar 23Jun 24Dec 25
Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+56.9%+2.2%+23.3%+13.1%
Profit+300.0%−12.6%+5.9%
EPS+300.0%−17.0%+2.7%+10.3%
Share price+79.7%+37.0%+64.5%
Revenue YoY (Dec 25)
−6.1%
latest quarter vs a year ago
Profit YoY (Dec 25)
−4.0%
latest quarter vs a year ago
Revenue 10y
13.1%
long-run compound pace

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

04 · 4-Factor Sector Score

4-Factor Sector Score

42.1/100 — rank 30 of 48 in Trading · 51% evidence confidence

A-1 Ltd scores 42.1 out of 100 against the 48 companies it is compared with in Trading, ranking 30. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 16.2 + 11.5 + 8.8 + 5.6 = 42.1. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

A-1 Ltd reported ₹69.8 Cr of revenue in the Dec 25 quarter, −6.1% year on year. Over 10 years it has compounded at 13.1% a year. The last full year, FY25, came in at ₹331 Cr. The last four reported quarters add to ₹307 Cr.

A-1 Ltd reported ₹69.8 Cr of revenue in the Dec 25 quarter, −6.1% year on year. Over 10 years it has compounded at 13.1% a year. The last full year, FY25, came in at ₹331 Cr. The last four reported quarters add to ₹307 Cr.

FY25 revenue came in at ₹331 Cr (+56.9% on the year), capping 10 years at 13.1% compound. The latest quarter (Dec 25) printed ₹69.8 Cr, −6.1% year on year.

FY25 revenue ₹331 Cr (+56.9% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
13.1% a year over 10 years
RevenueYoY growth
357126%26882%17939%89−4.8%0−48%₹ Cr%₹33156.9%FY15FY20FY25
357126%26882%17939%89−4.8%0−48%₹ Cr%₹33156.9%FY15FY20FY25
Dec 25: ₹69.8 Cr (−6.1% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
11890%8953%5916%30−21%0−57%₹ Cr%₹70−6.1%Mar 23Jun 24Dec 25
11890%8953%5916%30−21%0−57%₹ Cr%₹70−6.1%Mar 23Jun 24Dec 25

Pace check: the last four quarters averaged +11.5% growth against the decade's 13.1% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +8.3% over the last 4 quarters against +18.3%/yr over the last 8 — rolling over; TTM profit −30.6% vs +31.9%/yr — rolling over.

→ Revenue slipped — did margins hold as it scaled? Next: 2.9% this quarter (−1.0 pp YoY).

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

A-1 Ltd's operating margin is 2.9% in the Dec 25 quarter, −1.0 percentage points against the same quarter a year ago. Across 11 fiscal years the operating margin has ranged −4.0% to 6.0%. The current quarter sits inside that band.

A-1 Ltd's operating margin is 2.9% in the Dec 25 quarter, −1.0 percentage points against the same quarter a year ago. Across 11 fiscal years the operating margin has ranged −4.0% to 6.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 2.9%, −1.0 pp against the same quarter a year ago. Across 11 fiscal years the operating margin has ranged −4.0%–6.0%.

🚨 Why the margin moved: operating margin went −1.0 pp year on year while gross margin went −0.8 pp — the loss came mostly from the gross line: input costs and pricing.

FY25: 3.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 11-year window.
within a −4.0–6.0% band over 11 years
operating marginYoY change (pp)
6.8%6.2%3.9%1.9%1.0%−2.5%−1.9%−6.8%−4.8%−11%%%3%1%FY15FY20FY25
6.8%6.2%3.9%1.9%1.0%−2.5%−1.9%−6.8%−4.8%−11%%%3%1%FY15FY20FY25
Dec 25: 2.9% operating margin (−1.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
4.2%4.7%2.9%3.0%1.6%1.4%0.4%−0.3%−0.9%−2.0%%%2.9%−1%Mar 23Jun 24Dec 25
4.2%4.7%2.9%3.0%1.6%1.4%0.4%−0.3%−0.9%−2.0%%%2.9%−1%Mar 23Jun 24Dec 25

→ Margins slipped — did that reach the bottom line? Next: profit −4.0% in the latest quarter.

07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

A-1 Ltd earned ₹1.0 Cr of net profit in the Dec 25 quarter, −4.0% year on year. Full-year FY25 profit was ₹4.0 Cr. That is 1.4% of the quarter's revenue. The same quarter a year earlier earned ₹1.0 Cr. 1 of the last 12 reported quarters were loss-making.

A-1 Ltd earned ₹1.0 Cr of net profit in the Dec 25 quarter, −4.0% year on year. Full-year FY25 profit was ₹4.0 Cr. That is 1.4% of the quarter's revenue. The same quarter a year earlier earned ₹1.0 Cr. 1 of the last 12 reported quarters were loss-making.

Dec 25 profit was ₹1.0 Cr, −4.0% year on year. On the full year, FY25 printed ₹4.0 Cr (+300.0%).

FY25 profit ₹4.0 Cr (+300.0% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
Net profitYoY growth
6330%5221%3113%20.0%0−105%₹ Cr%₹4300%FY15FY20FY25
6330%5221%3113%20.0%0−105%₹ Cr%₹4300%FY15FY20FY25
Dec 25: ₹1.0 Cr (−4.0% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
1.2414%0.8278%0.5142%0.25.7%−0.1−130%₹ Cr%₹1−4%Mar 23Jun 24Dec 25
1.2414%0.8278%0.5142%0.25.7%−0.1−130%₹ Cr%₹1−4%Mar 23Jun 24Dec 25

🚨 Why profit moved: revenue contributed −6.1% and the margin −1.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit −28.4% vs revenue +11.5%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

→ Profit rose — but did the cash follow? Next: 211% of the last 3 years' profit arrived as cash.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 211% of A-1 Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY25 that was ₹−11.0 Cr of operating cash against ₹4.0 Cr of profit. After ₹2.0 Cr of capital spending, ₹−13.0 Cr was left as free cash.

FY25: operating cash of ₹−11.0 Cr against reported profit of ₹4.0 Cr, leaving free cash of ₹−13.0 Cr after ₹2.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 211% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY25: CFO ₹−11.0 Cr vs profit ₹4.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 8-year window, annual resolution.
211% of 3-year profit arrived as cash
Operating cashNet profitFree cash
22123−6−16₹ Cr₹−11₹4₹−13FY18FY21FY25
22123−6−16₹ Cr₹−11₹4₹−13FY18FY21FY25
FY25: CFO = −275% of profit (three-year rate 211%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
346%179%13%−154%−321%%−275%FY18FY21FY25
346%179%13%−154%−321%%−275%FY18FY21FY25

Why conversion sits at 211%: the cash cycle tightened 24 days between FY20 and FY25 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

→ So follow the cash to where it goes. Next: a 57-day cycle and ₹6.0 Cr of building.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

A-1 Ltd's cash conversion cycle runs 57 days in FY25, down from 81 days in FY20. Capital spending ran ₹6.0 Cr over the last 3 years. At FY25 sales of ₹331 Cr each day of that cycle holds about ₹0.9 Cr, so roughly ₹52.0 Cr sits inside the business at any moment.

FY25: debtors at 56 days, inventory at 3 days — roughly 0.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 57 days, tighter than FY20's 81.

The full loop: cash goes out to suppliers and production on day 0; stock waits 3 days to sell; customers pay about 56 days after that; and suppliers themselves are paid at 2 days — netting out to the 57-day cycle.

In money terms: at FY25 sales of ₹331 Cr, each day of the cycle holds about ₹0.9 Cr — so the 57-day loop keeps roughly ₹52.0 Cr sitting inside the business at any moment.

FY25: a 57-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 11-year window.
−24 days vs FY20
Cash cycleInventory daysDebtor daysPayable days
100744720−6days57d3d56d2dFY15FY17FY20FY22FY25
100744720−6days57d3d56d2dFY15FY20FY25

On the investment side: capital spending of ₹6.0 Cr over the last 3 fiscal years against ₹12.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY25) — capacity paid for but not yet earning.

FY25: capex ₹2.0 Cr, work-in-progress ₹0.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
107520₹ Cr₹2₹0FY16FY18FY20FY22FY25
107520₹ Cr₹2₹0FY16FY20FY25

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 11%.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

A-1 Ltd earns a ROCE of 11% in FY25. That is up from a trough of 4% in FY24. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 1.2% net margin on 4.47× asset turns.

FY25 ROCE is 11%, recovered from a FY24 trough of 4% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY25): 1.2% net margin × 4.47× asset turns × 1.48× balance-sheet leverage ≈ 7.9% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

FY25: ROCE 11% Return on capital employed by fiscal year, % (line). 10-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY24's 4%
ROCEWACC
25%19%14%8.0%2.5%%11%FY16FY18FY20FY22FY25
25%19%14%8.0%2.5%%11%FY16FY20FY25

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.44.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

A-1 Ltd carries ₹22.0 Cr of borrowings against ₹50.0 Cr of equity in FY25, a debt-to-equity of 0.44. Operating profit covers the interest bill 5×. Over 5 years borrowings went from ₹6.0 Cr to ₹22.0 Cr. Capital spending ran ₹6.0 Cr across the last 3 of those years.

FY25: borrowings of ₹22.0 Cr against equity of ₹50.0 Cr — a debt-to-equity of 0.44. Operating profit covers the interest bill 5×. Over 5 years borrowings went from ₹6.0 Cr to ₹22.0 Cr while capital spending ran ₹6.0 Cr in just the last 3 — part of the build-out is riding on borrowed money.

FY25: borrowings ₹22.0 Cr at 0.44× equity Borrowings by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 11-year window. Quarterly balance-sheet history is not held for India — annual is the honest resolution.
the debt trajectory
BorrowingsDebt-to-equity
281.9×211.4×140.9×70.5×00.0×₹ Cr×₹220.44×FY15FY17FY20FY22FY25
281.9×211.4×140.9×70.5×00.0×₹ Cr×₹220.44×FY15FY20FY25

→ Who owns this, and are they adding or leaving? Next: Foreign institutions added 3.8 points over 8 quarters.

12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Foreign institutions added 3.8 points of A-1 Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 6.7% of the company. Domestic institutions moved +0.1 points over the same window, to 0.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: +3.8 points over 8 quarters to 6.7%; Domestic institutions: +0.1 points over 8 quarters to 0.1%; Promoters: +0.0 points over 8 quarters to 70.0%.

Why the register moved: foreign institutions drove it (+3.8 points) — steady accumulation by institutions reading the same numbers this page reads.

Fiscal-year ends: promoters +0.0 pts from Mar 24 to Mar 25 Shareholding at each fiscal-year end (March quarter), % of the company. 2 year-ends held.
PromotersForeign inst.Domestic inst.Public
76%55%35%15%−5.6%%70.0%2.9%0%27.0%Mar 24Mar 25
76%55%35%15%−5.6%%70.0%2.9%0%27.0%Mar 24Mar 25
Foreign institutions added 3.8 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 12 quarters.
PromotersForeign inst.Domestic inst.Public
76%55%35%15%−5.6%%70.0%6.7%0.1%23.2%Jun 23Sep 24Jan 26
76%55%35%15%−5.6%%70.0%6.7%0.1%23.2%Jun 23Sep 24Jan 26

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

A-1 Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Related companies · same sector · Trading Every company is compared on the shape of its own curves, not static ratios. The Revenue, EPS and ROCE columns each draw that company's last 12 quarters as a mini line of the ACTUAL level (trailing-twelve-month revenue and EPS, and the ROCE itself) — so a line that climbs is a business getting bigger, a line that sinks is one shrinking. The colour tracks the same line: green when it is rising or steadily healthy, amber when it is rolling over from a high (still elevated but turning down), red when it is falling, grey when flat or stuck. Colour and direction always agree — a green line never points down. The ROCE curve is the return on capital (annual readings for peers, so a slightly coarser line than the quarterly one at the top of this page). The Stage column then runs the same 12-quarter trajectory classifier used at the top of the page on each company and names where it sits. What lands a company in each bucket: CONSISTENT — growth stays positive across the window and returns are healthy (ROCE ≥ 15%, or ROE ≥ 12% for lenders); IMPROVING — profit or EPS fell into real decline, bottomed a few quarters back, and has climbed back to positive and held there; TURNING AROUND — the same kind of trough but more recent, with the latest quarters just lifting off it (an early, unconfirmed turn); TOPPING OUT — growth is still positive but decelerating hard from its own peak while returns have stopped rising; DETERIORATING — two or more growth curves are shrinking (latest below zero) and staying there, not one soft quarter; MIXED — the curves genuinely disagree, or no clean majority, so no single word fits; NO READ — fewer than eight usable quarters. It is a like-for-like read of every company against its own past, not a ranking against the group.
CompanyP/EMkt capRevenueEPSROCEStage
A-1 Ltd this page383.0×₹947 CrDeteriorating
Adani Enterprises Ltd₹4.1L CrMixed
Lloyds Enterprises Ltd1,079.0×₹11,894 CrTurning around
RRP Semiconductor Ltd₹11,877 CrNo read
MMTC Ltd92.2×₹9,228 CrNo read
SG Mart Ltd72.3×₹8,993 CrMixed
Rashi Peripherals Ltd18.5×₹5,139 CrConsistent
PTC India Ltd8.0×₹4,866 CrMixed
Euro Pratik Sales Ltd37.2×₹3,083 CrNo read
Shankara Buildpro Ltd23.1×₹2,998 CrNo read
Blue Pearl Agriventures Ltd5,705.0×₹2,795 CrNo read
BN Agrochem Ltd78.2×₹2,688 CrNo read
Onix Solar Energy Ltd34.7×₹2,300 CrNo read
Aayush Art and Bullion Ltd227.0×₹1,790 CrNo read
Onix Solar Energy Ltd117.0×₹1,779 CrNo read
Kothari Industrial Corporation Ltd₹1,761 CrNo read
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Aayush Art and Bullion Ltd882.0×₹1,702 CrMixed
Keto Motors Ltd₹1,603 CrNo read
Le Merite Exports Ltd87.0×₹1,177 Cr
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Sudarshan Pharma Industries Ltd43.2×₹1,006 CrNo read
Tembo Global Industries Ltd10.8×₹984 CrMixed
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Neueon Corporation Ltd₹930 CrNo read
Shah Foods Ltd276.0×₹908 Cr
Hexa Tradex Ltd₹857 CrNo read
Dhunseri Ventures Ltd9.4×₹854 CrDeteriorating
Vision Infra Equipment Solutions Ltd24.9×₹774 Cr
Hardwyn India Ltd58.5×₹773 CrImproving
Yogi Ltd36.9×₹765 CrNo read
Patel Retail Ltd19.1×₹746 CrNo read
Yogi Ltd39.1×₹741 CrNo read
Nupur Recyclers Ltd51.0×₹725 CrMixed
Mardia Samyoung Capillary Tubes Company Ltd687.0×₹707 CrNo read
State Trading Corporation of India Ltd15.9×₹707 CrNo read
Uniphos Enterprises Ltd33.0×₹683 CrNo read
Cropster Agro Ltd43.7×₹679 CrNo read
Fabtech Technologies Ltd13.7×₹666 CrNo read
Sudarshan Pharma Industries Ltd28.7×₹609 CrNo read
12 · Frequently asked questions

Frequently asked questions

What is A-1 Ltd's share price today?

A-1 Ltd trades at ₹20.6, +79.7% over the past year. The company is valued at ₹947 Cr. The stock sits at 15% of its 52-week range of ₹11–₹70, −30.2% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 65 weeks in. — as of 24 July 2026.

What were A-1 Ltd's latest quarterly results?

A-1 Ltd reported revenue of ₹69.8 Cr and net profit of ₹1.0 Cr for the Dec 25 quarter. Revenue fell 6.1% and profit fell 4.0% year on year. Earnings per share were ₹0.02. The operating margin was 2.9%, 1.0 pp lower than a year earlier. — as of 24 July 2026.

What is A-1 Ltd's revenue?

A-1 Ltd reported revenue of ₹69.8 Cr in the Dec 25 quarter, −6.1% year on year. For the full FY25 fiscal year, revenue was ₹331 Cr (+56.9%). Over the last 10 years revenue compounded at 13.1% a year. — as of 24 July 2026.

What is A-1 Ltd's profit?

A-1 Ltd earned ₹1.0 Cr of net profit in the Dec 25 quarter, −4.0% year on year. Full-year FY25 profit was ₹4.0 Cr. The operating margin ran 2.9% in the latest quarter. — as of 24 July 2026.

What is A-1 Ltd's market cap?

A-1 Ltd's market capitalisation is ₹947 Cr at a share price of ₹20.6. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.

What is A-1 Ltd's P/E ratio?

A-1 Ltd trades at a P/E of 383.0×, at the 92nd percentile of its own 7-year range, against a long-run median of 74.0×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Is A-1 Ltd overvalued?

On its own history, A-1 Ltd looks expensive against its own history: its P/E of 383.0× sits at the 92nd percentile of its 7-year range (long-run median 74.0×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.

Is A-1 Ltd growing?

Not right now — A-1 Ltd's latest numbers are shrinking: latest-quarter revenue −6.1% year on year, profit −4.0%, and the margin −1.0 pp at 2.9%. The earnings engine currently reads: deteriorating — as of 24 July 2026.

How is A-1 Ltd performing?

A-1 Ltd is in a confirmed uptrend, 65 weeks in. Its latest quarter's revenue fell 6.1% and profit fell 4.0% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 24 July 2026.

What stage is A-1 Ltd in?

Deteriorating — revenue and profit growth are shrinking (revenue growth −6.1% latest (single-quarter readings) against +78.0% at its 12-quarter best), ROCE holding at 11.0%. The read comes from the last 12 quarters of growth (revenue growth −6.1% latest, profit growth −4.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.

Is A-1 Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 65 of stage 2), trading −30.2% versus its 200-day average and at 15% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.

Is A-1 Ltd beating the market?

Not lately — on a trailing-13-week view A-1 Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-01-23), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 7.4 years the stock moved +1,436% against the NIFTY 500's +157% — ahead of the index over the full window. — as of 24 July 2026.

Will A-1 Ltd's share price go up?

This page publishes no price forecast for A-1 Ltd. What it measures instead: the share price is ₹20.6, the price is in a confirmed uptrend 65 weeks in. Its P/E of 383.0× sits at the 92nd percentile of its own 7-year range. — as of 24 July 2026.

Who owns A-1 Ltd?

Promoters hold 70.0% of A-1 Ltd, foreign institutions 6.7%, domestic institutions 0.1% and the public 23.2% (latest quarter). The biggest move on the register over the last two years: Foreign institutions added 3.8 points over 8 quarters. — as of 24 July 2026.

Does A-1 Ltd have too much debt?

It is moderate — A-1 Ltd's debt-to-equity is 0.44, and operating profit covers the interest bill 5×. FY25 borrowings were ₹22.0 Cr against equity of ₹50.0 Cr. Read the returns on this page with that leverage in mind — as of 24 July 2026.

What is A-1 Ltd's capex?

A-1 Ltd spent ₹6.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was ₹2.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.

What is A-1 Ltd's cash flow?

A-1 Ltd generated ₹−11.0 Cr of operating cash flow in FY25 and ₹−13.0 Cr of free cash flow after ₹2.0 Cr of capital spending. Reported profit that year was ₹4.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is A-1 Ltd's profit real cash?

Yes — over the last 3 fiscal years, 211% of A-1 Ltd's reported profit arrived as operating cash. In FY25, operating cash was ₹−11.0 Cr against reported profit of ₹4.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.

Where is A-1 Ltd in its business cycle?

A-1 Ltd's FY25 operating margin was 3.0%, against a 11-year band of −4.0%–6.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 2.9%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.

What could break the A-1 Ltd story?

The sharpest disagreement: annual EPS moved +300.0% against a +79.7% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.

Is A-1 Ltd a stock worth studying right now?

This is not investment advice. The machine read: A-1 Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.

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