Aarvi Encon Limited (AARVI)

About

Aarvi Encon Limited operates in Diversified Commercial Services, Industrials sector. Market cap ₹225.85 Cr with recent consolidated quarterly revenues ₹158–172 Cr. Mid-cap services provider; 73.36% promoter-backed with limited institutional investor participation.

Face value: ₹10

Market cap

₹203 Cr

P/E

10.5×

P/B

1.4×

Dividend yield

2.9%

ROE

13.2%

ROCE

16.3%

Debt / equity

0.19

OPM

3.5%

EPS (TTM)

₹13.1

Book value

₹95.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin volatility: OPM ranges 2.32–3.95%, constraining profitability buffer at net profit ₹2.33–5.99 Cr quarterly

Revenue volatility with thin margins: quarterly standalone revenue ₹139–172 Cr; at <3.5% OPM, small misses drive disproportionate profit declines

Concentrated shareholding and limited float: 73.36% promoter holding with zero FII/DII—verify market liquidity depth and institutional interest

Commercial services cyclicality: verify end-market exposure, customer concentration, and economic sensitivity

Generated analysis · source review pending

Growth drivers

Consolidated quarterly revenue stabilized ₹158–172 Cr (Sep 2025–Jun 2026); verify if market expansion or company-specific drivers sustaining base

Low debt-to-equity ratio (0.19) provides capacity for organic growth investments or working-capital scaling without material leverage increase

Regular dividend declarations (2026-08-07, 2025-08-01) signal cash generation; verify payout ratio and capital allocation priorities for growth

ROE 13.18% despite 3.49% OPM suggests asset-turnover efficiency; verify if margin expansion or asset-turn improvements can drive future returns

Generated analysis · source review pending

1,924 historical price candles were omitted because the exchange source has not been verified.

₹137.1+0.7%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 26.4% over the last 5 years
+Dividend yield of 2.9%
+Dividend payout of 30.5% of profit
+High promoter holding of 73.4% with no pledge

Cons

−Low return on equity of 10.5% (3-yr avg)
−Thin operating margin of 3.5%

Research score

Structured signal from quality, growth, valuation and momentum.

65/100

Business quality: 42
Growth: 61
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

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Indiqube Spaces LimitedINDIQUBEINDIQUBE	₹4,187 Cr	₹4,477 Cr	₹1,564 Cr	₹952 Cr	60.8%	₹-93 Cr	-7.3%	5.7%	-20.7%	-273
Sanghvi Movers LimitedSANGHVIMOVSANGHVIMOV	₹3,719 Cr	₹4,393 Cr	₹1,177 Cr	₹426 Cr	37.4%	₹199 Cr	17.2%	18%	15%	77

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	218	202	289	437	406	510	650
	209	192	276	418	394	497	627
	9	10	13	18	13	13	23
OPM %	4.2%	4.7%	4.4%	4.2%	3.1%	2.6%	3.5%
Depreciation	1	1	1	1	1	2	2
Interest	2	1	1	2	1	3	3
	1	2	1	0	2	2	2
Profit before tax	7	10	12	16	12	11	20
Tax	-0	-0	0	1	1	1	2
Tax %	-3.2%	-1.5%	0.7%	7.5%	6.3%	10.4%	11.6%
	7	10	12	15	11	10	18
PAT margin %	3.3%	5.2%	4.2%	3.3%	2.8%	2%	2.7%
EPS (₹)	4.9	7.1	8.2	9.8	7.7	6.8	11.9
EPS adjusted (₹)	—	—	—	9.8	7.7	6.8	11.9
	0%	0%	0%	0%	0%	29.5%	33.6%
Annual report	—	—	—	—	—	—	Annual report for Mar 2026

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	15	15	15	15
Reserves	93	102	111	127
	3	10	27	27
	47	45	61	68
Total equity & liabilities	158	171	213	237
	10	10	18	17
CWIP	—	0	0	0
Investments	0	0	6	5
	148	161	190	215
Total assets	158	171	213	237

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	18	-10	3	3	-2	8
	1	0	-0	1	-13	0
	-7	-1	-4	2	11	-6
Net cash flow	12	-11	-1	6	-4	2
Free cash flow	18	-11	2	2	-12	7
CFO / Operating profit %	188%	-81.8%	17.6%	25.1%	-17.9%	35.5%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—
EBITDA margin %	4.2%	4.7%	4.4%	4.2%	3.1%	2.6%	3.5%
EBIT margin %	3.6%	4.3%	4.1%	3.9%	2.8%	2.3%	3.2%
PAT margin %	3.3%	5.2%	4.2%	3.3%	2.8%	2%	2.7%
Working capital
Receivable days	—	—	—	79	75	83	57
Inventory days	—	—	—	0	0	0	0
Payable days	—	—	—	9	7	9	5
NWC days	—	—	—	71	67	73	53
Leverage
Current ratio	—	—	—	2.29	2.56	2.03	2.04
Debt to EBITDA	—	—	—	0.19	0.78	2	1.18
Debt to equity	—	—	—	0.03	0.08	0.21	0.19
Interest coverage	5.3	19.1	17.6	10.4	9.2	4.6	8
Asset turnover	—	—	—	2.75	2.37	2.4	2.74
Return ratios
Return on assets %	—	—	—	9.2%	6.6%	4.7%	7.4%
Return on capital employed %	—	—	—	16.8%	11.9%	11.4%	16.3%
Return on equity %	—	—	—	13.4%	9.7%	8%	12.4%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Jun 2026
	73.36%
FII	0%
DII	0%
Government	0%
	26.64%
No. of shareholders	8,726

Promoter holding up 0 percentage points since Jun 2026.

8 deals · 13 Dec 2021 – 13 Aug 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
13 Aug 2025	AMIT KUMAR JAIN HUF	Bulk	NSE	Buy	1,69,374	₹120.03	₹2.03 Cr
13 Aug 2025	AMIT KUMAR JAIN HUF	Bulk	NSE	Sell	1,51,420	₹119.96	₹1.82 Cr
13 Aug 2025	NEO APEX SHARE BROKING SERVICES LLP	Bulk	NSE	Sell	1,47,241	₹120.53	₹1.77 Cr
13 Aug 2025	NEO APEX SHARE BROKING SERVICES LLP	Bulk	NSE	Buy	1,47,241	₹119.90	₹1.77 Cr
15 Apr 2024	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	75,270	₹176.85	₹1.33 Cr
15 Apr 2024	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	75,270	₹176.64	₹1.33 Cr
27 Dec 2021	L7 HITECH PRIVATE LIMITED	Bulk	NSE	Buy	77,004	₹94.75	₹0.73 Cr
13 Dec 2021	KATTHUPUTHUR RAMASUBRAMANIAN KARTHIKEYAN	Bulk	NSE	Buy	1,00,000	₹85.04	₹0.85 Cr

1–8 of 8

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Virendra Dalpatram SanghaviManaging Director
Mr. Jaydev Virendra SanghaviExecutive Director
Mr. Devendra Jashwantrai ShrimankerIndependent Director
Mr. Jagat Suresh ParikhIndependent Director
Mrs. Sonal Nitin DoshiIndependent Director
Mr. Ramachandran RamamoorthyIndependent Director
Ms. Leela BishtCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Aarvi Encon Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

9

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Events

Upcoming dates and the company’s corporate-action history.

3

Dividend dividend7 Aug 2026 · ex-date₹2
Final dividend7 Aug 2026 · ex-date₹2
Dividend dividend1 Aug 2025 · ex-date₹2

1

Board meeting to consider results12 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

3 announcementsExport CSV

18 Sept 2026, 12:42 pmCompany Update

Announcement under Regulation 30 (LODR)-Investor Presentation

Investor Presentation PDF

15 Sept 2026, 4:12 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

1 Sept 2026, 12:26 pmOthers

Disclosure under Regulation 30A of LODR

Exchange filing PDF

Date	Category	Subject	Filing
18 Sept 2026, 12:42 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF
15 Sept 2026, 4:12 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

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Aarvi Encon Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

3

1

Announcements

Not in the F&O segment

No fund holdings on record

3

1

Announcements

Annual reports

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Aarvi Encon Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends3

Board meetings1

Announcements

Not in the F&O segment

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

No fund holdings on record

Dividends3

Board meetings1

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

1

3

1