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    Non-energy minerals

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    Forest products
Airo Lam Ltd.

Airo Lam Ltd.

NNSE:AIROLAM
83.55
INR
-3.25
(-3.74%)
4.22EPS
19.01P/E
1.25BMarket Cap
Airo Lam Ltd.
NSE:AIROLAM
(National Stock Exchange of India)

Recent

price

83.55

P/E

ratio

19.01

div

yld

- -

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
50.28
58.25
61.12
58.14
64.58
71.86
74.58
70.91
88.73
112.58
132.96
137.26
139.91
161.62
152.47
Revenue per Share
1.3
1.35
1.46
1.52
1.72
2.51
2.82
3.18
3.64
4.32
4.93
5.23
1.94
3.5
4.37
Basic EPS, GAAP
4.54
-0.7
-0.73
2.24
0.54
-2.87
0.74
-7.32
-5.67
-6.07
-4.77
-8.81
-2.39
11.1
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
7
7.99
9.06
10.17
11.52
23.46
26.3
29.45
33.12
37.41
42.62
46.97
48.87
52.38
52.38
Book Value per Share
7
7.99
9.06
10.17
11.47
23.37
26.23
29.4
33.09
37.4
42.62
46.97
48.86
52.37
52.37
Tangible Book Value per Share
11
11
11
11
11
13
15
15
15
15
15
15
15
15
16
Basic Weighted Avg Shares
552
639
671
638
709
931
1,119
1,064
1,331
1,689
1,995
2,059
2,099
2,425
2,457
Sales/Revenue/Turnover
8.22
6.39
7.12
6.86
7.18
7.89
7.1
7.89
9.04
7.26
7.66
7.5
4.29
5.97
6.34
Operating Margin (%)
15
15
14
13
18
17
18
16
23
30
33
39
46
50
50
Depreciation Expense
14
15
16
17
19
33
42
48
55
65
74
78
29
52
70
Net Income, GAAP
31.81
32.55
32.58
33.06
33.14
33.76
29.26
24.83
29.32
28.97
24.32
32.33
34.64
25.56
21.2
Effective Tax Rate (%)
2.59
2.32
2.39
2.62
2.67
3.49
3.78
4.49
4.1
3.84
3.71
3.81
1.39
2.16
2.86
Profit Margin (%)
43
56
94
113
146
287
325
336
332
443
435
442
403
419
419
Working Capital
37
54
73
63
69
37
48
145
193
220
139
146
204
159
159
LT Debt
105
120
136
153
173
352
395
442
497
562
640
699
724
774
774
Total Equity
- -
4.5
4.85
4.12
3.75
9.87
9.96
8.48
9.41
9.1
9.86
7.67
3.77
6.66
- -
Return on Invested Capital (%)
- -
9.61
9.13
8.02
8.27
9.62
9.38
8.32
8.1
8.33
8.63
7.89
3,962.44
6.61
- -
Return on Capital (%)
- -
13.18
12.53
11.59
11.62
12.39
11.33
11.42
11.62
12.25
12.31
11.66
4.05
6.91
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
705
- -
664
LT Borrowings
183
- -
159
LT Finance Leases
2
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
15
15
15
Market Capitalization
1,676
1,527
1,245

Working Capital

INR

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
1,720
- -
1,686
Cash, Cash Equivalents & STI
8
- -
19
Accounts Receivable, Net
701
- -
679
Inventories
863
- -
881
Total Current Liabilities
1,315
- -
1,267
Payables & Accruals
- -
- -
- -
ST Debt
705
- -
664
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
20.02%
9.34%
6.91%
Free Cash Flow
-260.84%
-113.28%
-564.11%
Net Income, GAAP
19.87%
11.27%
80.27%
Sales/Revenue/Turnover
14.85%
13.14%
15.52%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
486
500
569
505
2,059
2025
523
518
540
562
2,099
2026
- -
619
698
579
2,425

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.76
1.17
1.25
1.11
5.23
2025
1.38
-2.16
0.7
1.85
1.94
2026
- -
1.58
0.96
0.17
3.5

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Airo Lam Limited manufactures and markets decorative laminates, plywood, and related wood products in India. The company produces a wide range of high-pressure decorative laminates under brands including Airolam, Classico, Ilam, Airolite, and Ilite in thicknesses from 0.6mm to 25mm across more than 1000 designs and finishes such as standard, post-formable, compact, and cabinet grades; Airoply plywood, commercial plywood sheets, flush doors, blackboards, gloss and matte acrylic panels, and luce matt finish panels; and additional offerings like interiors, doors, and specialty laminates including performance and compact variants. Airo Lam operates through an extensive domestic network of over 12 depots, 100 distributors, and 5,000 dealers while exporting to more than 16 countries including Singapore, Malaysia, the United States, United Kingdom, Kuwait, Bangladesh, Saudi Arabia, Sri Lanka, Thailand, Qatar, United Arab Emirates, Syria, Iran, Egypt, Nepal, Vietnam, Israel, and Australia. Founded in 2007 and headquartered at Survey No. 355, Nananpur Road, Prantij, Gujarat, India, the company recently expanded production and solar capacity, incorporated overseas subsidiaries in Poland, the United States, and Dubai to enhance export logistics and global presence, and reported mixed quarterly financial performance with net profit fluctuations including a rise to Rs 2.78 crore in March 2025 but declines in subsequent periods amid steady sales growth.