Value Added Product Mix Shift
Expected: CurrentHIGH confidence
What: Operating Margin: 7.39%
Impact: 309 bps expansion from Q4FY25
Arfin India Ltd: Why Is It Outperforming Nifty 500?
ActiveRS +24.2%Average12w Streak
In , Arfin India Ltd (Aluminium Products) is outperforming Nifty 500 with +24.2% relative strength. Fundamentals: Average. On a 12-week streak.
Arfin India Ltd Key Facts
- PE Ratio
- 178.0x
- Price/Book
- 8.25x
- Market Cap
- ₹1,628 Cr
- PAT Growth YoY
- +68%
- Revenue Growth YoY
- +4%
- OPM
- 7.4%
- RS vs Nifty 500
- +24.2%
Avoid
What's Happening
🚫No earnings growth, no valuation discount — limited upside
📊Debt increased 27% YoY — leverage rising
💰Trading 94% above estimated fair value — significant premium
Earnings Acceleration Triggers
1. Value Added Product Mix Shift
CurrentHIGH
2. Order Book Or Contract Wins
FY27HIGH
3. Geographical Expansion
OngoingMEDIUM
Key Risks
1. Volatility in aluminum prices linked to international indices like LME directly
HIGH2. Ongoing conflicts impact supply chains and operational costs through potential c
MEDIUM3. Ratings are constrained by vulnerability to foreign exchange rate fluctuations
MEDIUMSector-Specific Signals
Operating Margin7.39%+309 bps
Capacity StatusExpansion Underway
Raw Material CostINR 137.50 Cr
New Order ValueINR 85.59 CrNew Award
Key Numbers
PAT Growth YoY
+68%
Inflection Up
Revenue YoY
+4%
Stable
Operating Margin
7.4%
+131 bps YoY
PE Ratio
178.0
PEG Ratio
0.00
EV/EBITDA
39.7
Current Price
₹97
Dividend Yield
0.11%
Fundamental Score
41/100
Average
3Y PAT CAGR
0%
Market Cap
1.6K Cr
Valuation
Significantly Overvalued12-Week Performance
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
12 weeks agoThis week
Why Are Arfin India Ltd's Earnings Accelerating?
Based on Q3 FY26 (web) earnings • Updated Apr 18, 2026
Order Book Or Contract Wins
Expected: FY27HIGH confidence
What: Contract Value: INR 85.59 Cr
Impact: approx 14% of annual revenue
Geographical Expansion
Expected: OngoingMEDIUM confidence
What: Strategic Partner Stake: 5.81%
What Are the Key Risks for Arfin India Ltd?
Earnings deceleration risks from management commentary
Volatility in aluminum prices linked to international indices like LME directly
HIGHTrigger: Volatility in aluminum prices linked to international indices like LME directly impacts margins.
Management view: Focus on operational efficiency and pricing power.
Monitor: commodity
Ongoing conflicts impact supply chains and operational costs through potential c
MEDIUMTrigger: Ongoing conflicts impact supply chains and operational costs through potential closure of key trade routes.
Management view: Not specified
Monitor: geopolitical
Ratings are constrained by vulnerability to foreign exchange rate fluctuations
MEDIUMTrigger: Ratings are constrained by vulnerability to foreign exchange rate fluctuations.
Management view: Not specified
Monitor: fx
What Did Arfin India Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
INR 187.96 Cr
YoY +4.21%QoQ +46.91%
Revenue recovered sharply on a sequential basis, reversing the year-on-year declining trends observed in the first two quarters of the fiscal year.
EBITDA
INR 13.89 Cr
YoY +26.97%Margin 7.39%
EBITDA margins expanded significantly to reach an eight-quarter high, driven by operational efficiencies and favorable commodity price dynamics.
PAT
INR 5.09 Cr
YoY +67.99%QoQ +107.76%
Net profit more than doubled quarter-on-quarter, benefiting from both revenue expansion and substantial margin enhancement.
Other Highlights
• Earnings per share (EPS) doubled sequentially to 0.30 from 0.15 in the preceding quarter.
• Operating margin expanded by 108 basis points quarter-on-quarter to reach 7.39%.
• Interim dividend of 0.11 per share was declared alongside the Q3 results.
What Sector Metrics Matter for Arfin India Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Operating Margin
7.39%
YoY +309 bps
Why: Highest in eight quarters due to improved pricing power and operational efficiencies.
Capacity Status
Expansion Underway
Why: Investing in EHV conductor machinery to meet high infrastructure demand.
Raw Material Cost
INR 137.50 Cr
Why: Rising costs indicate potential margin compression risks despite revenue growth.
New Order Value
INR 85.59 Cr
YoY New Award
Why: Secured contract for AAAC conductors from Dakshin Gujarat Vij Company.
Promoter Holding
69.77%
YoY -0.02%
Why: Marginal decline represents routine adjustments with no change in management commitment.
P/E Ratio (TTM)
178x
YoY Elevated
Why: Commanding a significant premium over the industry average of 34x.
What Is Arfin India Ltd's Management Guidance?
Forward-looking targets from management for FY27
Revenue Outlook
Expected major growth from next financial year
Volume
Substantial production capacity augmentation expected
Management Tone: BULLISH
How Fast Is Arfin India Ltd Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +4% | +5% | Stable |
| PAT (Net Profit) | +68% | 0% | Inflection Up |
| OPM | 7.4% | +131 bps | Stable |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Other Top Aluminium Products Stocks Beating Nifty 500
Frequently Asked Questions: Arfin India Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were Arfin India Ltd's latest quarterly results?
Arfin India Ltd's latest quarterly results (Dec 2025) show
- PAT Growth YoY: +68.0% (turning around (inflection up))
- Revenue Growth YoY: +4.2%
- Operating Margin: 7.4% (stable)
Is Arfin India Ltd's profit growing or declining?
Arfin India Ltd's profit is growing with an turning around (inflection up) trend.
- PAT Growth YoY: +68.0% (latest quarter)
- PAT Growth QoQ: +107.8% (sequential)
- 3-Year PAT CAGR: 0.0%
- Trend: Turning around (inflection up) — consistent growth pattern
What is Arfin India Ltd's revenue growth trend?
Arfin India Ltd's revenue growth trend is stable.
- Revenue Growth YoY: +4.2%
- Revenue Growth QoQ: +46.9% (sequential)
- 3-Year Revenue CAGR: +5.4%
How is Arfin India Ltd's operating margin trending?
Arfin India Ltd's operating margin is stable.
- Current OPM: 7.4%
- OPM Change YoY: +1.3% basis points
- OPM Change QoQ: +0.1% basis points
What is Arfin India Ltd's 3-year profit and revenue CAGR?
Arfin India Ltd's long-term compounding rates
- 3-Year Profit CAGR: 0.0%
- 3-Year Revenue CAGR: +5.4%
Is Arfin India Ltd's growth accelerating or decelerating?
Arfin India Ltd's earnings growth is turning around (inflection up) with positive momentum on a sequential basis.
- YoY Acceleration: +73.0% bps
- Sequential Acceleration: 0.0% bps
What is Arfin India Ltd's trailing twelve month (TTM) performance?
Arfin India Ltd's trailing twelve month (TTM) performance
- TTM PAT: ₹9 Cr
- TTM PAT Growth: -15.3% YoY
- TTM Revenue: ₹578 Cr
- TTM Revenue Growth: -3.5% YoY
- TTM Operating Margin: 6.3%
Is Arfin India Ltd overvalued or undervalued?
Arfin India Ltd appears significantly overvalued based on our fair value analysis.
- Valuation Signal: Significantly Overvalued
- Current PE: 178.0x
- Price-to-Book: 10.2x
What is Arfin India Ltd's current PE ratio?
Arfin India Ltd's current PE ratio is 178.0x.
- Current PE: 178.0x
- Market Cap: 1.6K Cr
- Dividend Yield: 0.11%
How does Arfin India Ltd's valuation compare to its history?
Arfin India Ltd's current PE is 178.0x.
- Current PE: 178.0x
- Valuation Assessment: Significantly Overvalued
What is Arfin India Ltd's price-to-book ratio?
Arfin India Ltd's price-to-book ratio is 10.2x.
- Price-to-Book (P/B): 10.2x
- Book Value per Share: ₹10
- Current Price: ₹97
Is Arfin India Ltd a fundamentally strong company?
Arfin India Ltd is rated Average with a fundamental score of 40.5/100. This score is calculated from objective financial metrics
- Revenue Growth YoY: +4.2% (10% weight)
- PAT Growth YoY: +68.0% (10% weight)
- PAT Growth QoQ: +107.8% (10% weight)
- Margins stable (10% weight)
- PEG Ratio: 0.0x vs sector median (15% weight)
- EV/EBITDA: 39.7x vs sector median (15% weight)
Is Arfin India Ltd debt free?
Arfin India Ltd has a debt-to-equity ratio of N/A.
- Total Debt: ₹149 Cr
What is Arfin India Ltd's return on equity (ROE) and ROCE?
Arfin India Ltd's return ratios over recent years
- FY2023: ROCE 13.0%
- FY2024: ROCE 14.0%
- FY2025: ROCE 14.0%
Is Arfin India Ltd's cash flow positive?
Arfin India Ltd's operating cash flow is negative (FY2025).
- Cash from Operations (CFO): ₹-21 Cr
- Free Cash Flow (FCF): ₹-29 Cr
- CFO/PAT Ratio: -233% (weak cash conversion)
What is Arfin India Ltd's dividend yield?
Arfin India Ltd's current dividend yield is 0.11%.
- Dividend Yield: 0.11%
- Current Price: ₹97
Who holds Arfin India Ltd shares — promoters, FII, DII?
Arfin India Ltd's shareholding pattern (Mar 2026)
- Promoters: 69.8%
- FII (Foreign): 1.5%
- Public: 28.6%
Is promoter holding increasing or decreasing in Arfin India Ltd?
Arfin India Ltd's promoter holding has remained stable recently.
- Current Promoter Holding: 69.8% (Mar 2026)
- Previous Quarter: 69.8% (Dec 2025)
- Change: 0.00% (stable)
How long has Arfin India Ltd been outperforming Nifty 500?
Arfin India Ltd has been outperforming Nifty 500 for 12 consecutive weeks, indicating strong sustained outperformance.
Is Arfin India Ltd a new momentum entry or an established outperformer?
Arfin India Ltd is an established outperformer with 12 weeks of consecutive Nifty 500 outperformance.
What are the growth catalysts for Arfin India Ltd?
Arfin India Ltd has 3 key growth catalysts identified from recent earnings analysis
- Value Added Product Mix Shift — Shift towards higher-margin products and operational efficiency is the primary driver of the current profit surge.
- Order Book Or Contract Wins — Large order win in the power transmission segment provides strong revenue visibility for the upcoming fiscal year.
- Geographical Expansion — Collaboration with a global leader like JFE Holdings facilitates entry into new export markets.
What are the key risks in Arfin India Ltd?
Arfin India Ltd has 3 key risks worth monitoring
- [HIGH] Volatility in aluminum prices linked to international indices like LME directly — Volatility in aluminum prices linked to international indices like LME directly impacts margins.
- [MEDIUM] Ongoing conflicts impact supply chains and operational costs through potential c — Ongoing conflicts impact supply chains and operational costs through potential closure of key trade routes.
- [MEDIUM] Ratings are constrained by vulnerability to foreign exchange rate fluctuations — Ratings are constrained by vulnerability to foreign exchange rate fluctuations.
What is Arfin India Ltd's management guidance for growth?
Arfin India Ltd's management has provided the following forward guidance for FY27
- Revenue outlook: Expected major growth from next financial year
- Margin outlook: Not Given
- Capex plan: Not Given for Extra High Voltage (EHV) conductor capacity expansion
- Management tone: bullish
What sector-specific metrics matter most for Arfin India Ltd?
Arfin India Ltd's most important sub-sector-specific KPIs from the latest concall
- Operating Margin: 7.39% (YoY +309 bps) — Highest in eight quarters due to improved pricing power and operational efficiencies.
- Capacity Status: Expansion Underway — Investing in EHV conductor machinery to meet high infrastructure demand.
- Raw Material Cost: INR 137.50 Cr — Rising costs indicate potential margin compression risks despite revenue growth.
- New Order Value: INR 85.59 Cr (YoY New Award) — Secured contract for AAAC conductors from Dakshin Gujarat Vij Company.
- Promoter Holding: 69.77% (YoY -0.02%) — Marginal decline represents routine adjustments with no change in management commitment.
- P/E Ratio (TTM): 178x (YoY Elevated) — Commanding a significant premium over the industry average of 34x.
Is Arfin India Ltd worth studying for long term investment?
Based on quantitative research signals, here is why Arfin India Ltd may be worth studying
- Earnings growing at +68.0% YoY
What is the investment thesis for Arfin India Ltd?
Arfin India Ltd investment thesis summary:
Research Signals (Bull Case)
- Growth catalyst: Value Added Product Mix Shift
Risk Factors (Bear Case)
- Appears significantly overvalued
- Key risk: Volatility in aluminum prices linked to international indices like LME directly
What is the future outlook for Arfin India Ltd?
Arfin India Ltd's forward outlook based on current data signals
- Earnings Trend: turning around (inflection up)
- Revenue Trend: stable
- Margin Trend: stable
- Valuation: Significantly Overvalued
- Key Catalyst: Value Added Product Mix Shift
- Key Risk: Volatility in aluminum prices linked to international indices like LME directly
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.