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Swing Capital

Aarvi Encon Ltd

NSE: AARVI

Incorporated in 1987, Aarvi is India’s leading technical staffing company, which specializes in providing expert engineering staffing solutions.[1]

₹121
52W: ₹97 — ₹152
PE 15.4 · Book ₹74.5 · +62% vs book
Market Cap₹180 Cr
Stock P/E15.4Price to Earnings
ROCE10.2%Return on Capital
ROE7.37%Return on Equity
Div. Yield1.64%Face Value ₹10

Strengths

  • +Company has been maintaining a healthy dividend payout of 29.3%

Weaknesses

  • −Tax rate seems low
  • −Company has a low return on equity of 11.1% over last 3 years.

Shareholding Pattern

Promoters73.53%
FIIs0%
DIIs0%
Public26.47%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters73.54%73.58%▲0.073.58%73.47%▼0.173.47%73.47%73.53%▲0.173.53%
FIIs0%0%0%0%0%0%0.01%▲0.00%▼0.0
DIIs0%0%0%0%0%0%0%0%
Public26.46%26.42%▼0.026.42%26.53%▲0.126.53%26.53%26.46%▼0.126.47%▲0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales9593.5697.52104.57110.28119.94129.28134.68139.57146.2
Expenses92.3491.0695.05101.85108.74117.78125.5131.22136.14142.81
Operating Profit2.662.52.472.721.542.163.783.463.433.39
OPM %2.8%2.67%2.53%2.6%1.4%1.8%2.92%2.57%2.46%2.32%
Net Profit2.192.752.762.141.421.362.822.743.132.33
EPS ₹1.481.861.871.450.960.921.91.852.111.57

AI Insights

Revenue Trend

TTM revenue at ₹550Cr, up 18.5% YoY. OPM at 3%.

Debt Position

Borrowings at ₹36Cr. Debt-to-equity ratio: 0.38x. Healthy balance sheet.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 73.53%.

Margin & Efficiency

ROCE declining from 30% (Mar 2014) to 10% (Mar 2025). Working capital days: 39.

Valuation

PE 15.4x with 10.2% ROCE. Price is 62% above book value of ₹74.5. Dividend yield: 1.64%.

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