Aartech Solonics Ltd

AARTECH

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Market Cap

₹ 156 Cr

P/E

47.14

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Aartech Solonics Limited specializes in the development of import substitute systems for power plants and continuous process industries, with a notable flagship product, the BTS 2000 Fast Bus Transfer System.

The company leads the domestic market for fast bus transfer systems and competes internationally with a limited number of global manufacturers.

Aartech Solonics emphasizes a system solution-oriented R&D approach, leveraging its expertise in specialized and selected energy applications.

In addition to energy solutions, the company has diversified into LED backlit frames and industrial plastic enclosures. Its client base spans defense, power generation, railways, and more.

Sector

Capital Goods - Electrical Equipment

Industry

Electric Equipment - Switchgears/Relays/Circuits

Market Cap

156 Cr

Volatility

Moderate Risk

P/E Ratio

47.1

Industry P/E

51.9

PEG Ratio

3.6

P/B Ratio

4.6

52W High

105.57

52W Low

47.83

Sales CAGR

11.03%

29.70%

28.87%

10Y

15.53%

Profit CAGR

109.09%

12.96%

28.16%

10Y

27.59%

ROE

TTM

9.75%

5.18%

4.73%

10Y

4.35%

ROCE

TTM

6.58%

7.99%

7.00%

10Y

6.20%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
STARDELTA	604.75	181 Cr	15.83	2.00	0.00	12.64	16.34	9.51
TRL	132.95	165 Cr	54.49	1.84	0.00	3.38	10.15	1.89
AARTECH	48.72	156 Cr	47.14	4.60	0.26	9.75	6.58	6.54
COSPOWER	924.00	155 Cr	102.78	8.51	0.00	18.93	19.36	6.24
AKANKSHA	72.85	143 Cr	32.67	2.20	0.00	7.49	9.89	3.93
SURANASOL	27.80	137 Cr	—	2.44	0.00	—	—	0.00
CLASSICEIL	73.70	132 Cr	11.39	1.53	0.00	13.57	17.54	9.00

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	6.38	9.05	7.34	9.98	6.61	9.41	9.78	11	4.34	12
Expenses	6.02	8.99	7.80	9.45	6.93	8.40	8.69	13	4.42	9.32
Operating Profit	0.36	0.06	-0.46	0.53	-0.32	1.01	1.09	-1.99	-0.08	2.38
OPM %	5.64	0.66	-6.27	5.31	-4.84	10.73	11.15	-18.86	-1.84	20.34
Other Income	0.80	0.63	1.44	0.27	2.08	0.98	0.63	-0.69	1.40	0.35
Interest	0.14	0.13	0.14	0.16	0.13	0.18	0.13	0.11	0.21	0.17
Depreciation	0.01	0.11	0.12	0.14	0.12	0.14	0.13	0.11	0.13	0.13
Profit Before Tax	1.01	0.45	0.72	0.50	1.51	1.66	1.46	-2.90	0.97	2.44
Tax %	27.72	0.00	18.06	176.00	31.13	9.04	-26.03	43.79	35.05	11.89
Net Profit	0.73	0.45	0.59	-0.38	1.04	1.51	1.84	-1.63	0.63	2.15
EPS in Rs	0.23	0.14	0.19	-0.12	0.33	0.47	0.58	-0.51	0.30	0.68

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	9.88	14	10	11	16	22	33	36	34
Expenses	9.75	14	10	11	14	21	32	37	34
Operating Profit	0.14	0.30	-0.05	0.46	2.49	0.63	0.47	-0.21	0.03
OPM %	1.37	2.16	-0.51	4.16	15.27	2.91	1.44	-0.59	0.09
Other Income	1.22	1.09	0.49	0.58	1.45	2.13	3.15	3.00	2.32
Interest	0.08	0.16	0.18	0.20	0.18	0.28	0.57	0.55	0.63
Depreciation	0.32	0.27	0.30	0.38	0.34	0.44	0.47	0.50	0.51
Profit Before Tax	0.96	0.95	-0.04	0.46	3.42	2.04	2.58	1.73	1.19
Tax %	21.04	46.21	-410.21	43.98	18.30	30.18	49.05	-59.33	-97.48
Net Profit	0.76	0.51	-0.19	0.26	2.80	1.42	1.32	2.76	2.35
EPS in Rs	—	—	—	—	—	0.02	0.44	0.87	1.05
Dividend Payout %	0.00	0.00	0.00	0.00	18.94	0.00	0.00	14.37	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4.94	7.06	7.06	7.06	11	11	11	16
Reserves	13	18	18	18	17	18	19	16
Borrowings	0.00	1.10	2.36	1.11	0.65	2.69	4.14	5.64
Other Liabilities	2.28	1.98	2.80	2.55	4.02	5.28	7.44	5.72
Total Liabilities	20	28	30	29	32	37	41	43
Fixed Assets	3.38	0.00	0.00	3.70	3.80	4.41	4.58	4.56
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.05
Investments	4.41	7.73	9.78	7.93	9.43	11	14	13
Other Assets	12	21	20	17	19	21	22	25
Total Assets	20	28	30	29	32	37	41	43

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.46	-1.40	1.26	-1.61	1.66	-4.82	1.49	-1.52
Cash from Investing Activity	-1.14	-6.06	-3.83	2.28	-1.27	3.84	-0.93	1.28
Cash from Financing Activity	2.77	8.30	-0.48	-0.39	-0.23	1.17	0.40	0.28
Net Cash Flow	1.18	0.85	-3.04	0.28	0.16	0.19	0.97	0.04

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	52.38%	52.68%	52.68%	52.68%	52.68%	52.68%	52.68%	52.68%	52.72%	52.72%	52.72%	52.72%
FIIs	0.00%	0.00%	0.00%	0.02%	0.00%	0.01%	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	1.39%	1.39%	1.39%	1.39%	1.67%	1.38%	0.31%
Public	47.62%	47.32%	47.32%	47.30%	47.32%	45.92%	45.93%	45.91%	45.89%	45.61%	45.90%	46.97%
Total Shareholders	226	238	270	3,552	4,227	4,734	5,662	11,251	13,082	14,359	13,866	14,358

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Nov 25, 2025	Amit anil raje	Insider - Promoter & Director	Acquisition	51.28	0.05 Cr	10,145	0.03
Jul 10, 2025	Affluence marketing and distr...	Bulk	Buy	74.48	0.60 Cr	80,000	0.25
Jul 10, 2025	Affluence marketing and distr...	Bulk	Sell	72.40	1.30 Cr	1,80,008	0.56
Jul 09, 2025	Varun krishnavtar kabra	Bulk	Sell	73.91	1.59 Cr	2,15,195	0.67
Jul 09, 2025	Varun krishnavtar kabra	Bulk	Buy	73.86	1.77 Cr	2,40,194	0.75
Jun 12, 2025	Varun krishnavtar kabra	Bulk	Sell	74.47	3.76 Cr	5,05,142	1.58
Jun 12, 2025	Varun krishnavtar kabra	Bulk	Buy	76.20	3.91 Cr	5,12,675	1.61
Jun 11, 2025	Varun krishnavtar kabra	Bulk	Sell	73.11	1.52 Cr	2,07,833	0.65
Jun 11, 2025	Varun krishnavtar kabra	Bulk	Buy	74.00	2.13 Cr	2,87,187	0.90
Jun 11, 2025	Varun krishnavtar kabra	Bulk	Sell	73.13	3.69 Cr	5,04,668	1.58

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY25

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Bullish

Overall

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Moving Averages

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	6.38	9.05	7.34	9.98	6.61	9.41	9.78	11	4.34	12
Expenses	6.02	8.99	7.80	9.45	6.93	8.40	8.69	13	4.42	9.32
Operating Profit	0.36	0.06	-0.46	0.53	-0.32	1.01	1.09	-1.99	-0.08	2.38
OPM %	5.64	0.66	-6.27	5.31	-4.84	10.73	11.15	-18.86	-1.84	20.34
Other Income	0.80	0.63	1.44	0.27	2.08	0.98	0.63	-0.69	1.40	0.35
Interest	0.14	0.13	0.14	0.16	0.13	0.18	0.13	0.11	0.21	0.17
Depreciation	0.01	0.11	0.12	0.14	0.12	0.14	0.13	0.11	0.13	0.13
Profit Before Tax	1.01	0.45	0.72	0.50	1.51	1.66	1.46	-2.90	0.97	2.44
Tax %	27.72	0.00	18.06	176.00	31.13	9.04	-26.03	43.79	35.05	11.89
Net Profit	0.73	0.45	0.59	-0.38	1.04	1.51	1.84	-1.63	0.63	2.15
EPS in Rs	0.23	0.14	0.19	-0.12	0.33	0.47	0.58	-0.51	0.30	0.68

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	9.88	14	10	11	16	22	33	36	34
Expenses	9.75	14	10	11	14	21	32	37	34
Operating Profit	0.14	0.30	-0.05	0.46	2.49	0.63	0.47	-0.21	0.03
OPM %	1.37	2.16	-0.51	4.16	15.27	2.91	1.44	-0.59	0.09
Other Income	1.22	1.09	0.49	0.58	1.45	2.13	3.15	3.00	2.32
Interest	0.08	0.16	0.18	0.20	0.18	0.28	0.57	0.55	0.63
Depreciation	0.32	0.27	0.30	0.38	0.34	0.44	0.47	0.50	0.51
Profit Before Tax	0.96	0.95	-0.04	0.46	3.42	2.04	2.58	1.73	1.19
Tax %	21.04	46.21	-410.21	43.98	18.30	30.18	49.05	-59.33	-97.48
Net Profit	0.76	0.51	-0.19	0.26	2.80	1.42	1.32	2.76	2.35
EPS in Rs	—	—	—	—	—	0.02	0.44	0.87	1.05
Dividend Payout %	0.00	0.00	0.00	0.00	18.94	0.00	0.00	14.37	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4.94	7.06	7.06	7.06	11	11	11	16
Reserves	13	18	18	18	17	18	19	16
Borrowings	0.00	1.10	2.36	1.11	0.65	2.69	4.14	5.64
Other Liabilities	2.28	1.98	2.80	2.55	4.02	5.28	7.44	5.72
Total Liabilities	20	28	30	29	32	37	41	43
Fixed Assets	3.38	0.00	0.00	3.70	3.80	4.41	4.58	4.56
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.05
Investments	4.41	7.73	9.78	7.93	9.43	11	14	13
Other Assets	12	21	20	17	19	21	22	25
Total Assets	20	28	30	29	32	37	41	43

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.46	-1.40	1.26	-1.61	1.66	-4.82	1.49	-1.52
Cash from Investing Activity	-1.14	-6.06	-3.83	2.28	-1.27	3.84	-0.93	1.28
Cash from Financing Activity	2.77	8.30	-0.48	-0.39	-0.23	1.17	0.40	0.28
Net Cash Flow	1.18	0.85	-3.04	0.28	0.16	0.19	0.97	0.04

Overview

Detailed Summary

The company leads the domestic market for fast bus transfer systems and competes internationally with a limited number of global manufacturers.

Aartech Solonics emphasizes a system solution-oriented R&D approach, leveraging its expertise in specialized and selected energy applications.

In addition to energy solutions, the company has diversified into LED backlit frames and industrial plastic enclosures. Its client base spans defense, power generation, railways, and more.

Sector

Capital Goods - Electrical Equipment

Industry

Electric Equipment - Switchgears/Relays/Circuits

Market Cap

156 Cr

Volatility

Moderate Risk

P/E Ratio

47.1

Industry P/E

51.9

PEG Ratio

3.6

P/B Ratio

4.6

52W High

105.57

52W Low

47.83

Sales CAGR

11.03%

29.70%

28.87%

10Y

15.53%

Profit CAGR

109.09%

12.96%

28.16%

10Y

27.59%

ROE

TTM

9.75%

5.18%

4.73%

10Y

4.35%

ROCE

TTM

6.58%

7.99%

7.00%

10Y

6.20%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
STARDELTA	604.75	181 Cr	15.83	2.00	0.00	12.64	16.34	9.51
TRL	132.95	165 Cr	54.49	1.84	0.00	3.38	10.15	1.89
AARTECH	48.72	156 Cr	47.14	4.60	0.26	9.75	6.58	6.54
COSPOWER	924.00	155 Cr	102.78	8.51	0.00	18.93	19.36	6.24
AKANKSHA	72.85	143 Cr	32.67	2.20	0.00	7.49	9.89	3.93
SURANASOL	27.80	137 Cr	—	2.44	0.00	—	—	0.00
CLASSICEIL	73.70	132 Cr	11.39	1.53	0.00	13.57	17.54	9.00