- POSITIVE
Annual Revenue Aeron Composite Mar-2026 Annual Revenue is Rs 225 Cr which is growth of 1.7% YoY.
- NEGATIVE
Annual Net Profit Aeron Composite Mar-2026 Annual Net Profit is Rs 9 Cr which is growth of -34.7% YoY.
Aeron Composite was incorporated on May 13, 2011. The company is engaged in the business of manufacturing and supplying of Fiber Glass Reinforced Polymer products such as FRP Pultruded Products, FRP Moulded Gratings & FRP Rods tailored for various industrial applications. An FRP product is a composite material consisting of a polymer matrix (resins) reinforced with fibers such as fiberglass, carbon or aramid.
| Bidding Dates |
|---|
| 28 Aug 2024 - 30 Aug 2024 |
| Subscription |
|---|
| 35.77x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹121,000 | 1 | 1 | 1000 | 4.5 M | ₹121 - ₹125 | 73.63 % | ₹543.0 M - ₹561.0 M | RHP DOC |
Aeron Composite IPO SUBSCRIPTION STATUS
30 Aug '24Total35.77x
Retail Individual Investor42.15x
HNI (NII) Investors94.28x
Qualified Institutional Buyers13.76x
Aeron Composite IPO overall subscription rate was 35.77 times the total available shares
Aeron Composite IPO retail subscription rate was 42.15 times in the retail segment
Aeron Composite IPO non-institutional investor subscription rate was 94.28 times in the non-institutional investor category
Aeron Composite IPO Qualified Institutional Bidder subscription rate was 13.76 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
30 Aug 2024 (Day 3) | 42.15x | 94.28x | 13.76x |
29 Aug 2024 (Day 2) | 7.81x | 5.6x | 1.78x |
28 Aug 2024 (Day 1) | 3.59x | 1.94x | 1.3x |
Aeron Composite FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 11MFY24 | 942.2 | 17914.5 | 1,624.67 | 1503.2 | 8.0% |
| FY23 | 661.2 | 17938.4 | 116.78 | 80.1 | 5.5% |
| FY22 | 362.1 | 10833.5 | 1.21 | -10.4 | 5.5% |
| FY21 | 255.3 | 7882.2 | 358.7 | 350.5 | 7.8% |
Aeron Composite IPO SUBSCRIPTION STATUS DETAILS
Aeron Composite had 4.5 M shares on offer
Aeron Composite IPO offer price was in the range ₹121 - ₹125
Aeron Composite IPO minimum Investment was ₹121000
Aeron Composite IPO issue size was ₹ 543.0 M - ₹ 561.0 M
Aeron Composite had a minimum lot size of 1000 Shares per application
Aeron Composite NUMBER OF SHARES ON OFFER
Total4.5 M
Fresh Issue4.5 M
Offer for Sale0
Post Issue Promoter Holding %73.63 %
Aeron Composite IPO IMPORTANT DATES
| Issue Open Date | 28 Aug 2024 |
| Issue close Date | 30 Aug 2024 |
| Allotment Date | 02 Sep 2024 |
| Refund Date | 03 Sep 2024 |
| Demat Account Credit Date | 03 Sep 2024 |
| Listing Date | 04 Sep 2024 |
| Listing on Exchange(s) | NSE |
| Aeron Composite Allotment Status | Exchange |
Aeron Composite IPO subscription opened on 28 Aug 2024, and closed on 30 Aug 2024
IPO allotment for Aeron Composite was finalized on Monday, 02 Sep 2024
IPO listing for Aeron Composite was on NSE on Wednesday, 04 Sep 2024
Aeron Composite IPO LISTING GAINS
| Issue Price (adjusted) | 125.0 |
| Listing Open Price | 150.0 |
| Listing Close Price | 157.5 |
| Listing Gain% | 20.0% |
| Current Gain% | -32.8% |
Aeron Composite Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Aeron Composite Ltd. | 84 | 143 | 16.4 | -0.5 | 0.6 | 7.9 | 4.1 | 224.6 | 1.7 | 8.7 | -34.7 | 5.1 | -34.7 |
| Supreme Industries Ltd. | 3497.9 | 44432.7 | 43 | 2.7 | 3.9 | 15.5 | 12.2 | 11262.5 | 7.2 | 954 | -0.7 | 81.3 | 16 |
| Astral Ltd. | 1402.3 | 37672.8 | 65.5 | 3.5 | 5.6 | 13.2 | 9.2 | 6615.9 | 12.6 | 536.6 | 2.4 | 21.4 | 18.8 |
| Shaily Engineering Plastics Ltd. | 3100.3 | 14246.7 | 80.6 | 1.6 | 13.9 | 23.7 | 14.8 | 998.4 | 26.5 | 169.9 | 82.5 | 38.5 | 51.3 |
| Finolex Industries Ltd. | 154.7 | 9600 | 15.6 | 0.3 | 2.4 | 9.6 | 7.9 | 4324.8 | -1.5 | 599 | -25.1 | 9.9 | 54.8 |
| Kingfa Science & Technology (India) Ltd. | 6932 | 9393.8 | 41.6 | 0.9 | 4.2 | 13.2 | 10.6 | 2016.2 | 14.9 | 185.3 | 21.2 | 166.5 | 47 |
Annual
Balance Sheet
Ratios
Cash Flow
Aeron Composite annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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| Indicator | Graph | CAGR 3 Yrs | CAGR 5 Yrs | Mar '26 | Mar '25 | Mar '24 | Mar '23 | Mar '22 | Mar '21 |
|---|---|---|---|---|---|---|---|---|---|
7.3% | 23.2% | 224.6 | 220.8 | 201.7 | 182 | 109.9 | 79.1 | ||
Operating Exp. Ann. | 6.2% | 22.8% | 202.6 | 197 | 183.7 | 169.2 | 102.1 | 72.5 | |
Operating Profit Ann. | 23.5% | 25% | 19.2 | 18.3 | 16.1 | 10.2 | 6.2 | 6.3 | |
OPM Ann. % | 15.3% | 1.5% | 8.56% | 8.29% | 7.97% | 5.59% | 5.67% | 7.95% | |
7.3% | 23% | 212.7 | 202.6 | 187.2 | 172.4 | 104.9 | 75.4 | ||
EBITDA Ann. | 19.8% | 27.6% | 22 | 23.8 | 18 | 12.8 | 7.8 | 6.5 | |
EBITDA Ann. margin % | 11.7% | 3.5% | 9.78% | 10.76% | 8.94% | 7.02% | 7.12% | 8.25% | |
Interest Ann. | 28.6% | 25.3% | 3.4 | 2.4 | 1.3 | 1.6 | 1.2 | 1.1 | |
Depr. | 60.4% | 29.7% | 6.6 | 3.2 | 2.2 | 1.6 | 1.7 | 1.8 | |
PBT Ann. | 6.8% | 25.9% | 11.7 | 18.2 | 14.5 | 9.6 | 5 | 3.7 | |
Tax Ann. | 0% | 22.2% | 3 | 4.8 | 4.4 | 3 | 1.4 | 1.1 | |
9.6% | 27.3% | 8.7 | 13.3 | 10.1 | 6.6 | 3.6 | 2.6 | ||
Net Profit Ann. | 9.6% | 27.3% | 8.7 | 13.3 | 10.1 | 6.6 | 3.6 | 2.6 | |
NPM Ann. % | 2.1% | 3.9% | 3.92% | 6.19% | 5.06% | 3.68% | 3.34% | 3.23% | |
EPS Adj. latest Ann. | 9.4% | 27.7% | 5.1 | 7.8 | 5.9 | 3.9 | 2.1 | 1.5 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
1.7%
2Y CAGR
5.5%
3Y CAGR
7.3%
5Y CAGR
23.2%
Total Revenue Annual growth is lower than historical averages.
Net Profit Ann.
1Y CHG
-34.6%
2Y CAGR
-7.2%
3Y CAGR
9.6%
5Y CAGR
27.3%
Net Profit Annual is falling faster than historical averages.
Operating Exp. Ann.
1Y CHG
2.8%
2Y CAGR
5%
3Y CAGR
6.2%
5Y CAGR
22.8%
Operating Expenses Annual Cr growth is lower than historical averages.
Aeron Composite INFORMATION ON IPO ISSUE
About Aeron Composite
Aeron Composite was incorporated on May 13, 2011. The company is engaged in the business of manufacturing and supplying of Fiber Glass Reinforced Polymer products such as FRP Pultruded Products, FRP Moulded Gratings & FRP Rods tailored for various industrial applications. An FRP product is a composite material consisting of a polymer matrix (resins) reinforced with fibers such as fiberglass, carbon or aramid.
Object of the Issue
- Funding the capital expenditure requirements towards setting up of an additional manufacturing unit.
- General Corporate Purpose.
Aeron Composite - PROMOTERS
| Name |
|---|
| Dilipkumar Ratilal Patel |
| Chirag Chandulal Patel |
| Pankaj Shantilal Dadhaniya |
| A. International Private Limited |
Aeron Composite Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Aeron Composite Registrar to the issue
Maashitla Securities Private Limited
ipo@maashitla.com
Aeron Composite Strengths
Revenue from multiple geographies
The Company has diversified revenue from multiple geographical locations. The company has generated around 82.7%, 85.8%, 90.7% and 85.8% of its total revenue from sales in top 5 countries such as India, USA, Australia, UK and Qatar. Currently, it is selling products to more than 30 countries across the globe
Strength
Diverse range of Products
The company manufactures diverse range of FRP products which includes FRP pultruded products, Handrails, cable trays, fencing, moulded gratings, Cross arm, poles, rods etc. catering to various industrial uses
Strength
Aeron Composite Risks
Raw material price fluctuation
The raw material consumption contribution of the firm is 65.3, 68.1%, 75.7% and 61.4% of revenue from manufacturing activities for the period ended February 29, 2024 and financial year ended March 31, 2023, 2022 and 2021 respectively. The company is vulnerable to the risk of rising and fluctuating prices of raw materials which are determined by demand and supply conditions in the global and Indian markets
Risk
Legal proceedings
The Company, Directors, Promoters and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the business
Risk
Limited number of customers
A notable portion of the company's revenue is from limited number of customers, the loss of such customers, the deterioration of their financial position or prospects, or a reduction in their demand for the products could affect the business
Risk
IPO FAQs
The promoters of the company are Dilipkumar Ratilal Patel, Chirag Chandulal Patel, Pankaj Shantilal Dadhaniya and A. International Private Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 121.0 - 125.0.
The IPO application opens on Aug 28, 2024 and closes on Aug 30, 2024.
The minimum lot size for the IPO is 1000. The maximum lot size for the IPO is 1000.
For all category investors, the minimum application amount for this IPO is Rs. 121,000.0, the maximum value for this IPO is Rs 125,000.0.
This IPO will be allotted on Sep 02, 2024.
The refund will be credited to your account on Sep 03, 2024.
The allotted shares will be credited to your demat on Sep 03, 2024.
Aeron Composite Ltd.’s shares listed on the stock exchanges on Sep 04, 2024.