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Aarvi Encon Ltd.
(AARVI)
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Rating:70Outperform
Price Target:
₹164.00
▲(28.19% Upside)
Action:Upgraded
Date:06/24/26
The score is driven primarily by mid-range financial performance—strong growth and a solid balance sheet offset by thin margins and volatile cash flows. Support comes from constructive technicals (price above key moving averages with positive MACD) and an attractive valuation (low P/E with a dividend yield).
Positive Factors
Sustained Revenue Growth
Multi-year top-line expansion reflects durable demand for technical staffing and engineering services across oil & gas, petrochemical and power clients. Sustained revenue growth supports scale-driven operational leverage, improved contract coverage and stronger negotiation power for renewals and pricing over the medium term.
Negative Factors
Thin, volatile profitability
Consistently thin operating margins limit retained earnings and reduce the cushion for investment or cyclical shocks. Sharp margin deterioration increases sensitivity to wage inflation, contract pricing pressure and project mix changes, making earnings less resilient and forecasting more uncertain over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Multi-year top-line expansion reflects durable demand for technical staffing and engineering services across oil & gas, petrochemical and power clients. Sustained revenue growth supports scale-driven operational leverage, improved contract coverage and stronger negotiation power for renewals and pricing over the medium term.
Read all positive factors
Aarvi Encon Ltd. (AARVI) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.11B
Dividend Yield1.4%
Average Volume (3M)35.73K
Price to Earnings (P/E)6.4
Beta (1Y)0.85
Revenue Growth22.41%
EPS Growth66.20%
CountryIN
Employees277
SectorGeneral
Sector StrengthN/A
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)21.90
Shares Outstanding14,844,100
10 Day Avg. Volume25,498
30 Day Avg. Volume35,732
Financial Highlights & Ratios
PEG Ratio-0.72
Price to Book (P/B)4.83
Price to Sales (P/S)1.06
P/FCF Ratio136.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Aarvi Encon Ltd. Business Overview & Revenue Model
Company Description
Aarvi Encon Limited, a technical manpower supply company, provides permanent and temporary manpower services in India, Malaysia, Italy, and internationally. The company offers procurement assistance and expediting; pre commissioning and commission...
How the Company Makes Money
Aarvi Encon primarily makes money by providing technical manpower (staffing) and engineering-support services to industrial clients. Its core revenue model is service-based: it supplies qualified engineers and other technical personnel to client p...
Aarvi Encon Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.71B | 6.50B | 5.10B | 4.06B | 4.37B | 2.89B |
| Gross Profit | 561.38M | 209.19M | 1.34B | 1.13B | 1.53B | 801.73M |
| EBITDA | 240.37M | 238.28M | 158.69M | 148.30M | 186.64M | 139.05M |
| Net Income | 193.91M | 176.21M | 100.44M | 113.44M | 145.12M | 120.67M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 2.37B | 2.13B | 1.71B | 1.58B | 1.49B |
| Cash, Cash Equivalents and Short-Term Investments | 141.04M | 172.56M | 149.95M | 237.30M | 70.43M | 62.55M |
| Total Debt | 0.00 | 266.97M | 267.81M | 97.51M | 34.03M | 64.30M |
| Total Liabilities | -1.42B | 948.80M | 877.06M | 543.20M | 503.87M | 542.87M |
| Stockholders Equity | 1.42B | 1.42B | 1.25B | 1.17B | 1.08B | 946.89M |
Cash Flow | ||||||
| Free Cash Flow | 54.36M | 50.30M | -133.31M | 23.76M | 20.29M | -113.59M |
| Operating Cash Flow | 59.24M | 60.05M | -34.36M | 31.44M | 32.13M | -104.10M |
| Investing Cash Flow | -40.17M | -4.96M | -146.87M | 11.48M | -1.24M | 1.15M |
| Financing Cash Flow | 7.79M | -30.46M | 141.40M | 20.07M | -37.74M | -10.84M |
Aarvi Encon Ltd. Technical Analysis
Neutral
127.94
Price Trends
149.54
Negative
140.10
Positive
133.09
Positive
Market Momentum
-2.26
Positive
42.14
Neutral
16.30
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AARVI, the sentiment is Neutral. The current price of 127.94 is below the 20-day moving average (MA) of 149.26, below the 50-day MA of 149.54, and below the 200-day MA of 133.09, indicating a neutral trend. The MACD of -2.26 indicates Positive momentum. The RSI at 42.14 is Neutral, neither overbought nor oversold. The STOCH value of 16.30 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:AARVI.
Aarvi Encon Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹2.11B | 6.45 | ― | 1.40% | 22.41% | 66.20% | |
61 Neutral | ₹10.19B | 0.20 | ― | 0.31% | 145.41% | 1411.16% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹7.07B | 24.57 | ― | 0.47% | -20.20% | -80.22% | |
44 Neutral | ₹8.63B | 0.26 | ― | 0.08% | -21.46% | ― | |
41 Neutral | ₹4.82B | 45.37 | ― | ― | -33.48% | ― |
* General Sector Average
IN:AARVI
Aarvi Encon Ltd.
143.36
21.72
17.86%
IN:GAYAPROJ
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153.78%
IN:IL&FSENGG
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36.75
3.25
9.70%
IN:MBECL
McNally Bharat Engineering Co. Ltd.
271.77
268.53
8287.96%
IN:PUNJLLOYD
Punj Lloyd Ltd.
―
―
―
IN:VASCONEQ
Vascon Engineers Limited
30.28
-24.07
-44.29%
Aarvi Encon Ltd. Corporate Events
Aarvi Encon Wins Change Makers Summit 2026 Award for Global Engineering Talent Leadership
May 27, 2026
Aarvi Encon Limited has announced that it received a prestigious award at the Change Makers Summit 2026, an initiative by Times Ascent of The Times of India, recognizing its outstanding leadership and contribution to global energy and infrastructu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.