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Aarvi Encon Limited

ISIN : INE754X01016
NSE : AARVI
Face Value : 10
Industry : Miscellaneous

EPS : 7.65
EPS (TTM) : 7.19
Price to Earning (P/E) : 13.35
Book Value : 78.75
Price to Bookvalue (P/B) : 1.30
Dividend Yield : 2 %
Return on Equity (ROE) : 10.11 %
Return on Capital Employed (ROCE) : 11.75 %

Aarvi Encon share price (28-Mar-2025)
National Stock Exchange NSE
Open / Close	99 - 102.12 3.2 %
Low / High	99 - 105.25 6.3 %
Trade Volume	10,897
52 Week Low / High	0 - 0 NAN %

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Consolidated Standalone

CONSOLIDATED QUARTERLY RESULT FOR AARVI ENCON LIMITED

Date End	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	909.88	1066.35	1126.53	1109.36	1062.97	1008.67	1022.82	998.85	1031.07	1133.34
Total Income	912.69	1069.69	1130.17	1112.79	1065.69	1009.9	1026	1007.81	1041.03	1138.13
Total Expenditure	880.34	1020.45	1072.49	1073.52	1016.65	967.3	991.1	976.55	1001.38	1100.23
Other Income	2.81	3.34	3.64	3.43	2.73	1.23	3.18	8.96	9.96	4.79
Operating Profit	32.35	49.24	57.68	39.27	49.04	42.6	34.9	31.26	39.65	37.9
Interest	2.77	3.18	4.36	5.41	4.64	3.11	3.48	3.93	4.15	6.69
Exceptional Items			-8.6
PBDT	29.58	46.06	44.72	33.86	44.4	39.49	31.42	27.33	35.5	31.21
Depreciation	2.24	2.54	2.93	3.34	3.48	2.84	3.01	3.46	3.37	2.93
Profit Before Tax	27.34	43.52	41.79	30.52	40.92	36.65	28.41	23.87	32.13	28.28
Tax	0.71	0.33	0.91	4.01	6.41	3.5	2.28	0.1	1.76	2.19
Profit After Tax	26.63	43.19	40.88	26.51	34.51	33.15	26.13	23.77	30.37	26.09
Net Profit	26.63	43.19	40.88	26.51	34.51	33.15	26.13	23.77	30.37	26.09
Equity Capital	147.84	147.84	147.84	147.84	147.84	147.84	147.84	147.84	147.84	147.84
Face Value (IN RS)	10	10	10	10	10	10	10	10	10	10
Calculated EPS	1.8	2.92	2.77	1.79	2.34	2.24	1.77	1.61	2.05	1.76
Diluted Eps After Extraordinary Items	1.8	2.92	2.77	1.79	2.34	2.24	1.77	1.61	2.05	1.76
Diluted Eps Before Extraordinary Items	1.8	2.92	2.77	1.79	2.34	2.24	1.77	1.61	2.05	1.76

STANDALONE QUARTERLY RESULT FOR AARVI ENCON LIMITED

Date End	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	825.98	948.59	997.54	964.59	916.23	915.64	950.03	935.6	975.22	1045.75
Total Income	829.08	952.42	1001.94	968.78	919.91	917.67	954.03	945.53	986.52	1051.8
Total Expenditure	794.37	905.02	945.93	927.73	881.89	881.73	923.44	910.58	950.52	1018.5
Other Income	3.1	3.84	4.4	4.19	3.67	2.03	4	9.92	11.3	6.06
Operating Profit	34.71	47.4	56.01	41.05	38.02	35.94	30.59	34.95	36	33.3
Interest	2.77	3.18	4.36	5.39	4.66	3.11	3.48	3.93	4.14	6.59
PBDT	31.94	44.22	51.65	35.66	33.36	32.83	27.11	31.02	31.86	26.71
Depreciation	2.21	2.45	2.84	3.25	3.37	2.81	2.96	3.42	3.32	2.91
Profit Before Tax	29.73	41.77	48.81	32.41	29.99	30.02	24.15	27.6	28.54	23.8
Tax	0.72	0.41	0.91	4.02	6.47	3.5	2.28	0.1	0.96	2.4
Profit After Tax	29.01	41.36	47.9	28.39	23.52	26.52	21.87	27.5	27.58	21.4
Net Profit	29.01	41.36	47.9	28.39	23.52	26.52	21.87	27.5	27.58	21.4
Equity Capital	147.84	147.84	147.84	147.84	147.84	147.84	147.84	147.84	147.84	147.84
Face Value (IN RS)	10	10	10	10	10	10	10	10	10	10
Calculated EPS	1.96	2.8	3.24	1.92	1.59	1.79	1.48	1.86	1.87	1.45
Diluted Eps After Extraordinary Items	1.96	2.8	3.24	1.92	1.59	1.79	1.48	1.86	1.86	1.44
Diluted Eps Before Extraordinary Items	1.96	2.8	3.24	1.92	1.59	1.79	1.48	1.86	1.86	1.44

Consolidated Standalone

CONSOLIDATED ANNUAL RESULT FOR AARVI ENCON LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	2885.47	4365.22	4061.47
Total Income	2897.26	4378.35	4084.74
Total Expenditure	2758.21	4183.11	3936.32
Other Income	11.79	13.13	23.28
Operating Profit	139.05	195.24	148.42
Interest	7.31	17.59	14.68
Exceptional Items		-8.6
PBDT	131.74	169.05	133.74
Depreciation	10.24	12.28	12.68
Profit Before Tax	121.5	156.77	121.06
Tax	0.83	11.65	7.64
Profit After Tax	120.67	145.12	113.42
Net Profit	120.67	145.12	113.42
Equity Capital	147.84	147.84	147.84
Face Value (IN RS)	10	10	10
Calculated EPS	8.16	9.82	7.67
Diluted Eps After Extraordinary Items	8.16	9.82	7.65
Diluted Eps Before Extraordinary Items	8.16	9.82	7.65

STANDALONE ANNUAL RESULT FOR AARVI ENCON LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	2745.14	3826.95	3776.49
Total Income	2757.26	3843.05	3803.74
Total Expenditure	2615.84	3660.58	3666.27
Other Income	12.12	16.1	27.24
Operating Profit	141.42	182.47	137.47
Interest	7.31	17.59	14.67
PBDT	134.11	164.88	122.8
Depreciation	10.18	11.91	12.5
Profit Before Tax	123.93	152.97	110.3
Tax	0.83	11.81	6.84
Profit After Tax	123.1	141.16	103.46
Net Profit	123.1	141.16	103.46
Equity Capital	147.84	147.84	147.84
Face Value (IN RS)	10	10	10
Calculated EPS	8.33	9.55	7
Diluted Eps After Extraordinary Items	8.33	9.55	6.98
Diluted Eps Before Extraordinary Items	8.33	9.55	6.98

Consolidated Standalone

CONSOLIDATED PROFIT / LOSS FOR AARVI ENCON LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Gross Sales	201.79 Cr	288.55 Cr	436.52 Cr	406.15 Cr
Processing Charges / Service Income	200.12 Cr	283.47 Cr	429.99 Cr	399.76 Cr
Net Sales	201.79 Cr	288.55 Cr	436.52 Cr	406.15 Cr
Power & Fuel Cost	25.85 Lk	21.76 Lk	69.8 Lk	43.32 Lk
Electricity & Power	19.57 Lk	15.18 Lk	62.36 Lk	36.35 Lk
Employee Cost	153.71 Cr	213.3 Cr	288.24 Cr	290.11 Cr
Salaries, Wages & Bonus	143.15 Cr	199.73 Cr	272.72 Cr	274.73 Cr
Contributions to EPF & Pension Funds	10.41 Cr	11.51 Cr	13.14 Cr	12.17 Cr
Workmen and Staff Welfare Expenses	15.12 Lk	2.06 Cr	2.39 Cr	2.93 Cr
Other Manufacturing Expenses	2.79 Cr	9.09 Cr	11.02 Cr	11.42 Cr
Repairs and Maintenance	9.36 Lk	15.3 Lk	20.65 Lk	23.55 Lk
General and Administration Expenses	34.22 Cr	51.28 Cr	116.33 Cr	89.76 Cr
Rent , Rates & Taxes	88.52 Lk	1.26 Cr	1.85 Cr	2.18 Cr
Insurance	10.23 Lk	8.73 Lk	4.78 Lk	3.62 Lk
Printing and stationery	10.55 Lk	17.91 Lk	26.61 Lk	30.71 Lk
Professional and legal fees	19.49 Cr	32.55 Cr	95.87 Cr	67.42 Cr
Traveling and conveyance	4.27 Cr	5.69 Cr	6.9 Cr	8.88 Cr
Selling and Distribution Expenses	21.48 Lk	44.18 Lk	37.28 Lk	29.65 Lk
Advertisement & Sales Promotion	15.91 Lk	35.54 Lk	30.42 Lk	20.35 Lk
Freight and Forwarding	5.57 Lk	8.64 Lk	6.86 Lk	9.3 Lk
Miscellaneous Expenses	86.1 Lk	99.26 Lk	1.28 Cr	1.2 Cr
Loss on disposal of fixed assets(net)	53,000	16.79 Lk	3.43 Lk	0
Loss on foreign exchange fluctuations	3.88 Lk	1.75 Lk	0	0
Total Expenditure	192.05 Cr	275.32 Cr	417.94 Cr	393.23 Cr
Other Income	2.3 Cr	1.18 Cr	1.31 Cr	2.33 Cr
Interest Received	2.25 Cr	1.03 Cr	77.51 Lk	1.99 Cr
Profit on sale of Fixed Assets	0	0	4.48 Lk	0
Provision Written Back	4.17 Lk	11,000	0	0
Foreign Exchange Gains	0	0	23.08 Lk	2.48 Lk
Operating Profit	12.04 Cr	14.41 Cr	19.89 Cr	15.24 Cr
Interest	75.43 Lk	1.24 Cr	2.13 Cr	1.87 Cr
Interest on Term Loan	52.53 Lk	68.58 Lk	1.71 Cr	1.41 Cr
Bank Charges etc	18.77 Lk	50.55 Lk	36.61 Lk	39.9 Lk
PBDT	11.28 Cr	13.17 Cr	17.76 Cr	13.37 Cr
Depreciation	97.37 Lk	1.02 Cr	1.23 Cr	1.27 Cr
Profit Before Taxation & Exceptional Items	10.31 Cr	12.15 Cr	16.54 Cr	12.11 Cr
Exceptional Income / Expenses	0	0	-86.01 Lk	0
Profit Before Tax	10.31 Cr	12.15 Cr	15.68 Cr	12.11 Cr
Provision for Tax	-15.23 Lk	8.31 Lk	1.17 Cr	76.35 Lk
Current Income Tax	0	11 Lk	1.11 Cr	79.09 Lk
Deferred Tax	82.32 Lk	-2.69 Lk	5.26 Lk	-2.74 Lk
Profit After Tax	10.46 Cr	12.07 Cr	14.51 Cr	11.34 Cr
Consolidated Net Profit	10.46 Cr	12.07 Cr	14.51 Cr	11.34 Cr
Profit Balance B/F	39.87 Cr	48.98 Cr	56.9 Cr	69.21 Cr
Appropriations	50.33 Cr	61.04 Cr	71.41 Cr	80.56 Cr
General Reserves	0	1.23 Cr	0	0
Other Appropriation	1.36 Cr	2.18 Cr	2.19 Cr	3.09 Cr
Equity Dividend %	15	20	20	20
Earnings Per Share	7.08	8.16	9.82	7.67
Adjusted EPS	7.08	8.16	9.82	7.67

STANDALONE PROFIT / LOSS FOR AARVI ENCON LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Gross Sales	189.66 Cr	274.51 Cr	382.7 Cr	377.65 Cr
Processing Charges / Service Income	187.99 Cr	269.44 Cr	376.16 Cr	371.27 Cr
Net Sales	189.66 Cr	274.51 Cr	382.7 Cr	377.65 Cr
Power & Fuel Cost	25.85 Lk	21.76 Lk	69.8 Lk	43.32 Lk
Electricity & Power	19.57 Lk	15.18 Lk	62.36 Lk	36.35 Lk
Employee Cost	151.57 Cr	211.63 Cr	285.22 Cr	284.61 Cr
Salaries, Wages & Bonus	141.07 Cr	198.13 Cr	269.81 Cr	269.29 Cr
Contributions to EPF & Pension Funds	10.41 Cr	11.5 Cr	13.12 Cr	12.14 Cr
Workmen and Staff Welfare Expenses	8.98 Lk	2 Cr	2.29 Cr	2.9 Cr
Other Manufacturing Expenses	2.79 Cr	9.09 Cr	11.02 Cr	11.42 Cr
Repairs and Maintenance	9.36 Lk	15.3 Lk	20.65 Lk	23.55 Lk
General and Administration Expenses	26.05 Cr	38.72 Cr	67.1 Cr	68.3 Cr
Rent , Rates & Taxes	88.52 Lk	1.26 Cr	1.81 Cr	2.11 Cr
Insurance	10.23 Lk	8.73 Lk	4.78 Lk	3.62 Lk
Printing and stationery	10.55 Lk	17.91 Lk	26.61 Lk	30.71 Lk
Professional and legal fees	12.28 Cr	21.56 Cr	49.51 Cr	50.62 Cr
Traveling and conveyance	3.71 Cr	4.75 Cr	5.31 Cr	5.39 Cr
Selling and Distribution Expenses	21.48 Lk	44.18 Lk	37.28 Lk	25.5 Lk
Advertisement & Sales Promotion	15.91 Lk	35.54 Lk	30.42 Lk	20.35 Lk
Freight and Forwarding	5.57 Lk	8.64 Lk	6.86 Lk	5.15 Lk
Miscellaneous Expenses	82.95 Lk	97.6 Lk	1.28 Cr	1.2 Cr
Loss on disposal of fixed assets(net)	53,000	16.79 Lk	3.43 Lk	0
Loss on foreign exchange fluctuations	72,000	9,000	0	0
Total Expenditure	181.71 Cr	261.08 Cr	365.7 Cr	366.23 Cr
Other Income	2.29 Cr	1.21 Cr	1.61 Cr	2.72 Cr
Interest Received	2.25 Cr	1.06 Cr	1.06 Cr	2.36 Cr
Profit on sale of Fixed Assets	0	0	4.48 Lk	0
Provision Written Back	4.17 Lk	0	0	0
Foreign Exchange Gains	0	0	24.26 Lk	5.5 Lk
Operating Profit	10.23 Cr	14.65 Cr	18.61 Cr	14.15 Cr
Interest	75.39 Lk	1.24 Cr	2.12 Cr	1.87 Cr
Interest on Term Loan	52.5 Lk	68.58 Lk	1.71 Cr	1.41 Cr
Bank Charges etc	18.76 Lk	50.54 Lk	36.21 Lk	41.21 Lk
PBDT	9.48 Cr	13.41 Cr	16.49 Cr	12.28 Cr
Depreciation	96.93 Lk	1.02 Cr	1.19 Cr	1.25 Cr
Profit Before Taxation & Exceptional Items	8.51 Cr	12.39 Cr	15.3 Cr	11.03 Cr
Profit Before Tax	8.51 Cr	12.39 Cr	15.3 Cr	11.03 Cr
Provision for Tax	-14.44 Lk	8.34 Lk	1.18 Cr	68.4 Lk
Current Income Tax	0	11 Lk	1.11 Cr	79.09 Lk
Deferred Tax	83.11 Lk	-2.66 Lk	6.85 Lk	-10.69 Lk
Profit After Tax	8.65 Cr	12.31 Cr	14.12 Cr	10.35 Cr
Consolidated Net Profit	8.65 Cr	12.31 Cr	14.12 Cr	10.35 Cr
Profit Balance B/F	29.76 Cr	37.06 Cr	45.22 Cr	57.14 Cr
Appropriations	38.41 Cr	49.37 Cr	59.34 Cr	67.49 Cr
General Reserves	0	1.23 Cr	0	0
Other Appropriation	1.36 Cr	2.18 Cr	2.19 Cr	3.09 Cr
Equity Dividend %	15	20	20	20
Earnings Per Share	5.85	8.33	9.55	7
Adjusted EPS	5.85	8.33	9.55	7

Consolidated Standalone

CONSOLIDATED CASH FLOW FOR AARVI ENCON LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	10.31 Cr	12.15 Cr	15.68 Cr	12.11 Cr
Adjustment	-15.76 Lk	1.64 Cr	3.18 Cr	1.79 Cr
Changes In working Capital	-3.45 Cr	-17.75 Cr	-10.2 Cr	-19.13 Cr
Cash Flow after changes in Working Capital	6.7 Cr	-3.97 Cr	8.66 Cr	-5.23 Cr
Cash Flow from Operating Activities	23.57 Cr	-10.41 Cr	3.21 Cr	3.14 Cr
Cash Flow from Investing Activities	-4.57 Cr	11.5 Lk	-12.36 Lk	1.15 Cr
Cash Flow from Financing Activitie	-7.47 Cr	-1.08 Cr	-3.77 Cr	2.01 Cr
Net Cash Inflow / Outflow	11.53 Cr	-11.38 Cr	-68.49 Lk	6.3 Cr
Opening Cash & Cash Equivalents	4.92 Cr	16.45 Cr	5.07 Cr	4.39 Cr
Closing Cash & Cash Equivalent	16.45 Cr	5.07 Cr	4.39 Cr	10.68 Cr

STANDALONE CASH FLOW FOR AARVI ENCON LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	8.51 Cr	12.39 Cr	15.3 Cr	11.03 Cr
Adjustment	-15.6 Lk	1.58 Cr	2.86 Cr	1.44 Cr
Changes In working Capital	-10.8 Cr	-15.03 Cr	-5.98 Cr	-24.07 Cr
Cash Flow after changes in Working Capital	-2.45 Cr	-1.06 Cr	12.18 Cr	-11.59 Cr
Cash Flow from Operating Activities	14.42 Cr	-7.51 Cr	6.74 Cr	-3.2 Cr
Cash Flow from Investing Activities	1.84 Cr	17.62 Lk	-33.73 Lk	1.5 Cr
Cash Flow from Financing Activitie	-7.4 Cr	-78.4 Lk	-7 Cr	1.92 Cr
Net Cash Inflow / Outflow	8.86 Cr	-8.12 Cr	-60.27 Lk	22.56 Lk
Opening Cash & Cash Equivalents	7.94 Lk	8.94 Cr	81.76 Lk	21.49 Lk
Closing Cash & Cash Equivalent	8.94 Cr	81.76 Lk	21.49 Lk	44.05 Lk

Consolidated Standalone

CONSOLIDATED BALANCE SHEET FOR AARVI ENCON LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	14.78 Cr	14.78 Cr	14.78 Cr	14.78 Cr
Equity - Authorised	20 Cr	20 Cr	20 Cr	20 Cr
Equity - Issued	14.78 Cr	14.78 Cr	14.78 Cr	14.78 Cr
Equity Paid Up	14.78 Cr	14.78 Cr	14.78 Cr	14.78 Cr
Face Value	10	10	10	10
Total Reserves	70.29 Cr	79.91 Cr	93.28 Cr	101.63 Cr
Securities Premium	14.92 Cr	14.92 Cr	14.92 Cr	14.92 Cr
Profit & Loss Account Balance	48.98 Cr	56.9 Cr	69.21 Cr	77.46 Cr
General Reserves	5.67 Cr	6.9 Cr	6.9 Cr	6.9 Cr
Reserve excluding Revaluation Reserve	70.29 Cr	79.91 Cr	93.28 Cr	101.63 Cr
Shareholder's Funds	85.07 Cr	94.69 Cr	108.06 Cr	116.7 Cr
Deferred Tax Assets / Liabilities	15.92 Lk	13.24 Lk	18.49 Lk	15.76 Lk
Deferred Tax Assets	27.99 Lk	34.49 Lk	31.33 Lk	33.09 Lk
Deferred Tax Liability	43.91 Lk	47.73 Lk	49.82 Lk	48.85 Lk
Other Long Term Liabilities	1.3 Cr	1.62 Cr	45.8 Lk	1.49 Cr
Total Non-Current Liabilities	1.46 Cr	1.75 Cr	64.29 Lk	1.65 Cr
Trade Payables	5.42 Cr	10.19 Cr	10.21 Cr	7.96 Cr
Sundry Creditors	5.42 Cr	10.19 Cr	10.21 Cr	7.96 Cr
Other Current Liabilities	24.54 Cr	35.7 Cr	35.84 Cr	34.49 Cr
Short Term Borrowings	3.53 Cr	6.43 Cr	3.4 Cr	9.75 Cr
Secured ST Loans repayable on Demands	3.53 Cr	6.43 Cr	3.4 Cr	9.75 Cr
Working Capital Loans- Sec	3.53 Cr	6.43 Cr	3.4 Cr	9.75 Cr
Short Term Provisions	0	4.75 Lk	9.85 Lk	36.44 Lk
Total Current Liabilities	33.49 Cr	52.36 Cr	49.56 Cr	52.56 Cr
Total Liabilities	120.02 Cr	148.81 Cr	158.26 Cr	170.92 Cr
Gross Block	17.75 Cr	17.12 Cr	17.85 Cr	18.67 Cr
Less: Accumulated Depreciation	7.54 Cr	6.98 Cr	7.75 Cr	9.02 Cr
Net Block	10.21 Cr	10.14 Cr	10.1 Cr	9.66 Cr
Long Term Loans & Advances	9.2 Cr	22.79 Cr	26.65 Cr	16.98 Cr
Other Non Current Assets	13.25 Cr	11.62 Cr	8.15 Cr	9.73 Cr
Total Non-Current Assets	32.83 Cr	44.55 Cr	44.9 Cr	36.37 Cr
Currents Investments	34.28 Lk	35.74 Lk	37.16 Lk	39.74 Lk
Quoted	34.28 Lk	35.74 Lk	37.16 Lk	39.74 Lk
Sundry Debtors	53.43 Cr	81.01 Cr	95.03 Cr	82.97 Cr
Debtors more than Six months	0	7.61 Cr	5.55 Cr	10.44 Cr
Debtors Others	55.28 Cr	75.65 Cr	91.68 Cr	75.67 Cr
Cash and Bank	23.61 Cr	7.26 Cr	6.67 Cr	23.33 Cr
Cash in hand	1.44 Lk	2.8 Lk	2.46 Lk	4.62 Lk
Balances at Bank	23.6 Cr	7.23 Cr	6.65 Cr	23.29 Cr
Other Current Assets	8.95 Cr	7.58 Cr	3.29 Cr	5.32 Cr
Interest accrued on Investments	5.46 Lk	9.24 Lk	12.6 Lk	26.2 Lk
Prepaid Expenses	1.13 Cr	1.09 Cr	1.45 Cr	1.64 Cr
Short Term Loans and Advances	86.76 Lk	8.05 Cr	8 Cr	22.53 Cr
Advances recoverable in cash or in kind	40.75 Lk	7.5 Cr	6.75 Cr	20 Cr
Total Current Assets	87.19 Cr	104.25 Cr	113.36 Cr	134.55 Cr
Net Current Assets (Including Current Investments)	53.7 Cr	51.89 Cr	63.8 Cr	81.98 Cr
Total Assets	120.02 Cr	148.81 Cr	158.26 Cr	170.92 Cr
Contingent Liabilities	4.06 Cr	15.58 Cr	15.44 Cr	12.85 Cr
Total Debt	3.54 Cr	6.43 Cr	3.4 Cr	9.75 Cr
Book Value	57.54	0	73.09	78.75
Adjusted Book Value	57.54	64.05	73.09	78.75

STANDALONE BALANCE SHEET FOR AARVI ENCON LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	14.78 Cr	14.78 Cr	14.78 Cr	14.78 Cr
Equity - Authorised	20 Cr	20 Cr	20 Cr	20 Cr
Equity - Issued	14.78 Cr	14.78 Cr	14.78 Cr	14.78 Cr
Equity Paid Up	14.78 Cr	14.78 Cr	14.78 Cr	14.78 Cr
Face Value	10	10	10	10
Total Reserves	57.65 Cr	67.05 Cr	78.97 Cr	86.22 Cr
Securities Premium	14.92 Cr	14.92 Cr	14.92 Cr	14.92 Cr
Profit & Loss Account Balance	37.06 Cr	45.22 Cr	57.14 Cr	64.39 Cr
General Reserves	5.67 Cr	6.9 Cr	6.9 Cr	6.9 Cr
Reserve excluding Revaluation Reserve	57.65 Cr	67.05 Cr	78.97 Cr	86.22 Cr
Shareholder's Funds	72.44 Cr	81.83 Cr	93.75 Cr	101.29 Cr
Deferred Tax Assets / Liabilities	32.89 Lk	30.22 Lk	37.06 Lk	26.37 Lk
Deferred Tax Assets	11.02 Lk	17.51 Lk	12.76 Lk	22.47 Lk
Deferred Tax Liability	43.91 Lk	47.73 Lk	49.82 Lk	48.84 Lk
Other Long Term Liabilities	1.3 Cr	1.62 Cr	45.8 Lk	1.49 Cr
Total Non-Current Liabilities	1.63 Cr	1.92 Cr	82.86 Lk	1.76 Cr
Trade Payables	4.35 Cr	5.64 Cr	6.24 Cr	5.11 Cr
Sundry Creditors	4.35 Cr	5.64 Cr	6.24 Cr	5.11 Cr
Other Current Liabilities	24.28 Cr	35.41 Cr	35.57 Cr	34.05 Cr
Short Term Borrowings	3.53 Cr	6.43 Cr	3.4 Cr	9.75 Cr
Secured ST Loans repayable on Demands	3.53 Cr	6.43 Cr	3.4 Cr	9.75 Cr
Working Capital Loans- Sec	3.53 Cr	6.43 Cr	3.4 Cr	9.75 Cr
Short Term Provisions	0	4.75 Lk	9.85 Lk	36.44 Lk
Total Current Liabilities	32.16 Cr	47.53 Cr	45.3 Cr	49.27 Cr
Total Liabilities	106.23 Cr	131.28 Cr	139.88 Cr	152.32 Cr
Gross Block	17.3 Cr	16.61 Cr	17.34 Cr	18.1 Cr
Less: Accumulated Depreciation	7.3 Cr	6.74 Cr	7.47 Cr	8.72 Cr
Net Block	10 Cr	9.87 Cr	9.87 Cr	9.37 Cr
Non Current Investments	67.43 Lk	67.43 Lk	89.49 Lk	99.92 Lk
Long Term Investment	67.43 Lk	67.43 Lk	89.49 Lk	99.92 Lk
Unquoted	67.43 Lk	67.43 Lk	89.49 Lk	99.92 Lk
Long Term Loans & Advances	8 Cr	21.39 Cr	28.92 Cr	20.84 Cr
Other Non Current Assets	13.01 Cr	11.62 Cr	8.15 Cr	9.73 Cr
Total Non-Current Assets	31.85 Cr	43.55 Cr	47.83 Cr	40.95 Cr
Unquoted	67.43 Lk	67.43 Lk	89.49 Lk	99.92 Lk
Sundry Debtors	48.72 Cr	69.24 Cr	78.74 Cr	71.75 Cr
Debtors more than Six months	0	4.1 Cr	3.25 Cr	7.86 Cr
Debtors Others	50.57 Cr	67.39 Cr	77.7 Cr	67.02 Cr
Cash and Bank	16.1 Cr	3.01 Cr	2.49 Cr	13.09 Cr
Cash in hand	32,000	1.55 Lk	1.13 Lk	3.3 Lk
Balances at Bank	16.1 Cr	2.99 Cr	2.48 Cr	13.06 Cr
Other Current Assets	8.85 Cr	7.57 Cr	3.38 Cr	5.57 Cr
Interest accrued on Investments	5.46 Lk	9.24 Lk	12.6 Lk	26.2 Lk
Prepaid Expenses	1.03 Cr	99.34 Lk	1.35 Cr	1.52 Cr
Short Term Loans and Advances	71.4 Lk	7.92 Cr	7.46 Cr	20.96 Cr
Advances recoverable in cash or in kind	38.98 Lk	7.5 Cr	6.75 Cr	20 Cr
Total Current Assets	74.38 Cr	87.73 Cr	92.06 Cr	111.37 Cr
Net Current Assets (Including Current Investments)	42.22 Cr	40.2 Cr	46.75 Cr	62.1 Cr
Total Assets	106.23 Cr	131.28 Cr	139.88 Cr	152.32 Cr
Contingent Liabilities	4.06 Cr	15.58 Cr	15.44 Cr	12.85 Cr
Total Debt	3.54 Cr	6.43 Cr	3.4 Cr	9.75 Cr
Book Value	49	55.35	63.42	68.32
Adjusted Book Value	49	55.35	63.42	68.32

Consolidated Standalone

FINANCIAL RATIOS (CONSOLIDATED) FOR AARVI ENCON LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	7.08	8.16	9.82	7.67
CEPS(Rs)	7.73	8.85	10.65	8.53
DPS(Rs)	1.5	2	2	2
Book NAV/Share(Rs)	57.54	64.05	73.09	78.75
Tax Rate(%)	-1.48	0.68	7.43	6.31
Margin Ratios
Core EBITDA Margin(%)	4.83	4.59	4.26	3.18
EBIT Margin(%)	5.48	4.64	4.08	3.44
Pre Tax Margin(%)	5.11	4.21	3.59	2.98
PAT Margin (%)	5.18	4.18	3.32	2.79
Cash Profit Margin (%)	5.67	4.54	3.61	3.11
Performance Ratios
ROA(%)	8.79	8.98	9.45	6.89
ROE(%)	12.96	13.43	14.31	10.11
ROCE(%)	12.73	14.11	16.75	11.75
Asset Turnover(x)	1.7	2.15	2.84	2.47
Sales/Fixed Asset(x)	11.14	16.55	24.97	22.24
Working Capital/Sales(x)	3.76	5.56	6.84	4.95
Efficiency Ratios
Fixed Capital/Sales(x)	0.09	0.06	0.04	0.05
Receivable days	100.8	85.03	73.6	79.98
Payable days	16.86	0	0	0
Valuation Parameters
PER(x)	7.31	14.2	10.52	15.54
PCE(x)	6.68	13.09	9.7	13.97
Price/Book(x)	0.9	1.81	1.41	1.51
Yield(%)	2.9	1.73	1.94	1.68
EV/Net Sales(x)	0.28	0.59	0.34	0.4
EV/Core EBITDA(x)	4.68	11.83	7.51	10.67
EV/EBIT(x)	5.09	12.74	8.4	11.64
EV/CE(x)	0.47	1.15	0.94	1.29
M Cap / Sales	0.38	0.59	0.35	0.43
Growth Ratio
Net Sales Growth(%)	-7.46	43	51.28	-6.96
Core EBITDA Growth(%)	19.84	19.73	38.02	-23.37
EBIT Growth(%)	25.68	21.02	32.97	-21.5
PAT Growth(%)	45.73	15.36	20.25	-21.83
EPS Growth(%)	45.73	15.37	20.25	-21.83
Financial Stability Ratios
Total Debt/Equity(x)	0.04	0.07	0.03	0.08
Current Ratio(x)	2.6	1.99	2.29	2.56
Quick Ratio(x)	2.6	1.99	2.29	2.56
Interest Cover(x)	14.67	10.82	8.38	7.48
Total Debt/Mcap(x)	0.05	0.04	0.02	0.06

FINANCIAL RATIOS (STANDALONE) FOR AARVI ENCON LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	5.85	8.33	9.55	7
CEPS(Rs)	6.51	9.01	10.35	7.84
DPS(Rs)	1.5	2	2	2
Book NAV/Share(Rs)	49	55.35	63.42	68.32
Tax Rate(%)	-1.7	0.67	7.72	6.2
Margin Ratios
Core EBITDA Margin(%)	4.19	4.89	4.44	3.02
EBIT Margin(%)	4.88	4.96	4.55	3.41
Pre Tax Margin(%)	4.49	4.51	4	2.92
PAT Margin (%)	4.56	4.48	3.69	2.74
Cash Profit Margin (%)	5.07	4.85	4	3.07
Performance Ratios
ROA(%)	8.33	10.37	10.41	7.08
ROE(%)	12.58	15.96	16.08	10.62
ROCE(%)	12.36	16.6	18.79	12.39
Asset Turnover(x)	1.83	2.31	2.82	2.58
Sales/Fixed Asset(x)	10.74	16.19	22.55	21.31
Working Capital/Sales(x)	4.49	6.83	8.19	6.08
Efficiency Ratios
Fixed Capital/Sales(x)	0.09	0.06	0.04	0.05
Receivable days	93.39	78.42	70.56	72.72
Payable days	10.28	0	0	0
Valuation Parameters
PER(x)	8.83	13.92	10.82	17.03
PCE(x)	7.94	12.86	9.98	15.2
Price/Book(x)	1.06	2.09	1.63	1.74
Yield(%)	2.9	1.73	1.94	1.68
EV/Net Sales(x)	0.34	0.64	0.4	0.46
EV/Core EBITDA(x)	6.24	11.93	8.26	12.22
EV/EBIT(x)	6.89	12.82	8.82	13.41
EV/CE(x)	0.6	1.33	1.1	1.56
M Cap / Sales	0.4	0.62	0.4	0.47
Growth Ratio
Net Sales Growth(%)	-0.81	44.74	39.41	-1.32
Core EBITDA Growth(%)	54.3	43.13	27.05	-23.98
EBIT Growth(%)	71.29	47.12	27.8	-25.96
PAT Growth(%)	128.59	42.23	14.68	-26.71
EPS Growth(%)	128.59	42.23	14.68	-26.71
Financial Stability Ratios
Total Debt/Equity(x)	0.05	0.08	0.04	0.1
Current Ratio(x)	2.31	1.85	2.03	2.26
Quick Ratio(x)	2.31	1.85	2.03	2.26
Interest Cover(x)	12.29	11.02	8.21	6.91
Total Debt/Mcap(x)	0.05	0.04	0.02	0.06

SHARE HOLDING PATTERN FOR AARVI ENCON LIMITED

Date	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters %	73.47	73.47	73.47	73.47	73.47	73.51	73.54	73.54	73.54	73.58
FII %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DII %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Public %	26.53	26.52	26.52	26.53	26.53	26.49	26.46	26.46	26.46	26.42

PEER COMPARISON FOR AARVI ENCON LIMITED

No.	Name
1	FGP LTD
2	JAYKAY ENTERPRISES LTD
3	MPIL CORPORATION LTD
4	Modi Rubber Limited
5	MODIPON LTD
6	RAJASTHAN PETRO SYNTHETICS LTD
7	Pressman Advertising Limited
8	PTL Enterprises Limited
9	HIMALAYA GRANITES LTD
10	Arrow Greentech Limited
11	Starlog Enterprises Ltd
12	Safari Industries (India) Limited
13	Vimta Labs Limited
14	Standard Industries Limited
15	Sanghvi Movers Limited
16	GSL Nova Petrochemicals Limited
17	Delta Corp Limited
18	Sun Pharma Advanced Research Company Limited
19	GKW Limited
20	Aarvi Encon Limited
21	Syngene International Limited
22	VA Tech Wabag Limited
23	Healthcare Global Enterprises Limited
24	Yaari Digital Integrated Services Limited
25	SIS LIMITED
26	Just Dial Limited
27	Future Enterprises Limited
28	Gujarat NRE Coke Ltd
29	Teamlease Services Limited
30	KESAR TERMINALS & INFRASTRUCTURE LTD
31	Future Market Networks Limited
32	Jain Irrigation Systems Limited
33	JAIN IRRIGATION SYSTEMS LTD
34	RattanIndia Enterprises Limited
35	Spacenet Enterprises India Limited
36	Quess Corp Limited
37	Universus Photo Imagings Limited
38	Antony Waste Handling Cell Limited
39	BLS International Services Limited
40	Vertoz Advertising Limited
41	Touchwood Entertainment Limited
42	Ajooni Biotech Limited
43	Kapston Services Limited
44	Indiabulls Enterprises Limited