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Airo Lam Ltd.
(AIROLAM)
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Rating:63Neutral
Price Target:
₹92.00
▲(6.36% Upside)
Action:Reiterated
Date:06/25/26
The score is driven primarily by mixed financial fundamentals: improving revenue and a 2026 cash-flow rebound are offset by elevated leverage and multi-year volatility in margins and free cash flow. Technicals are a meaningful positive, with the stock in a clear uptrend and momentum indicators supportive. Valuation is middling at ~23.8x earnings, offering limited cushion given the underlying variability.
Positive Factors
Constructive Revenue Growth
Revenue has grown across the reported period, supported by a 13.5% growth measure. Sustained expansion can improve factory utilization and broaden the customer base, although profitability still determines how much growth converts into durable earnings.
Negative Factors
Elevated Leverage
Debt exceeded equity in the latest periods, with debt-to-equity around 1.23 in 2025 versus 0.77–0.99 in 2021–2023. Higher leverage raises interest, refinancing and liquidity sensitivity if demand weakens or margins compress again.
Read all positive and negative factors
Positive Factors
Negative Factors
Constructive Revenue Growth
Revenue has grown across the reported period, supported by a 13.5% growth measure. Sustained expansion can improve factory utilization and broaden the customer base, although profitability still determines how much growth converts into durable earnings.
Read all positive factors
Airo Lam Ltd. (AIROLAM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.32B
Dividend YieldN/A
Average Volume (3M)5.52K
Price to Earnings (P/E)24.4
Beta (1Y)0.64
Revenue Growth13.53%
EPS Growth101.58%
CountryIN
Employees314
SectorGeneral
Sector StrengthN/A
IndustryPaper, Lumber & Forest Products
Share Statistics
EPS (TTM)3.59
Shares Outstanding15,000,000
10 Day Avg. Volume5,581
30 Day Avg. Volume5,518
Financial Highlights & Ratios
PEG Ratio0.25
Price to Book (P/B)1.66
Price to Sales (P/S)0.54
P/FCF Ratio16.35
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
Airo Lam Ltd. Business Overview & Revenue Model
Company Description
Airo Lam Limited engages in the production, processing, and marketing of decorative laminate sheets and plywood boards in India. The company offers decorative laminates, decorative postforming, I Lam, I lite, color code laminates, and classico pro...
How the Company Makes Money
AIROLAM primarily makes money by manufacturing and selling lamination films (and related film-based products) to business customers such as printing houses, packaging converters, and distributors. Revenue is generated from: (1) product sales of la...
Airo Lam Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
48
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.43B | 2.14B | 2.06B | 1.99B | 1.69B |
| Gross Profit | 618.97M | 571.49M | 588.58M | 670.01M | 556.30M |
| EBITDA | 193.59M | 160.99M | 200.09M | 172.86M | 152.49M |
| Net Income | 55.13M | 27.03M | 78.43M | 73.95M | 64.87M |
Balance Sheet | |||||
| Total Assets | 2.26B | 2.16B | 1.92B | 1.62B | 1.59B |
| Cash, Cash Equivalents and Short-Term Investments | 18.94M | 21.82M | 17.80M | 25.59M | 45.52M |
| Total Debt | 822.85M | 902.84M | 794.25M | 632.04M | 505.69M |
| Total Liabilities | 1.49B | 1.44B | 1.22B | 981.56M | 1.03B |
| Stockholders Equity | 785.76M | 733.10M | 704.69M | 640.13M | 562.42M |
Cash Flow | |||||
| Free Cash Flow | 79.96M | -110.28M | -132.24M | 68.29M | -97.19M |
| Operating Cash Flow | 107.15M | 66.51M | -5.58M | 86.57M | -68.05M |
| Investing Cash Flow | -27.51M | -175.21M | -126.70M | -48.88M | -31.55M |
| Financing Cash Flow | -80.00M | 36.28M | 109.98M | 84.40M | 97.36M |
Airo Lam Ltd. Technical Analysis
Negative
86.50
Price Trends
89.45
Negative
86.88
Positive
91.61
Negative
Market Momentum
>-0.01
Positive
46.59
Neutral
26.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AIROLAM, the sentiment is Negative. The current price of 86.5 is below the 20-day moving average (MA) of 89.05, below the 50-day MA of 89.45, and below the 200-day MA of 91.61, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.59 is Neutral, neither overbought nor oversold. The STOCH value of 26.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:AIROLAM.
Airo Lam Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | ₹1.32B | 24.37 | ― | ― | 13.53% | 101.58% | |
59 Neutral | ₹2.26B | 15.71 | ― | ― | 20.53% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹1.43B | 1,022.13 | ― | 0.80% | -3.07% | -103.41% | |
45 Neutral | ₹19.40B | 290.73 | ― | 0.13% | 11.58% | -69.11% | |
44 Neutral | ₹165.21B | 57.43 | ― | 0.12% | 23.39% | 43.60% | |
37 Underperform | ₹1.73B | -12.29 | ― | 2.08% | -0.87% | -126.04% |
* General Sector Average
IN:AIROLAM
Airo Lam Ltd.
87.50
-19.16
-17.96%
IN:ARCHIDPLY
Archidply Industries Limited
104.30
5.25
5.30%
IN:CENTURYPLY
Century Plyboards (India) Ltd.
752.15
20.93
2.86%
IN:GREENPANEL
Greenpanel Industries Ltd
159.30
-110.10
-40.87%
IN:SHREYANIND
Shreyans Industries Limited
125.50
-100.16
-44.38%
IN:WIPL
Western India Plywoods Ltd.
163.54
13.30
8.85%
Airo Lam Ltd. Corporate Events
Airo Lam Publishes June-Quarter Unaudited Results and Flags TDS, Loan Issues
Aug 15, 2026
Airo Lam Ltd. has published its standalone and consolidated unaudited financial results for the quarter ended 30 June 2026 in Business Standard and Jaihind, in line with securities listing regulations. The company reported quarterly income from op...
Airo Lam Publishes FY26 Audited Results in Newspapers, Notifies NSE
May 28, 2026
Airo Lam Limited has published its standalone and consolidated audited financial results for the year ended March 31, 2026 in Business Standard (English) and Jaihind (Gujarati), in compliance with Regulation 33 of SEBI’s Listing Obligations ...
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.