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ARO Granite Industries Limited
(AROGRANITE)
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Rating:41Neutral
Price Target:
₹21.00
▼(-36.34% Downside)
Action:Reiterated
Date:08/20/26
The score is primarily constrained by deteriorating financial performance, including a sharp revenue decline, a swing to sizable losses, and a steep drop in operating/free cash flow. Technicals add additional pressure as the stock trades below key moving averages with negative MACD, despite oversold readings. Valuation offers limited support because the company is loss-making and no dividend yield is provided.
Positive Factors
Lower Debt with Material Equity
Debt has declined materially from 2.05B in 2023 to 1.52B in 2026, while 2026 equity remains 1.74B. This provides a more manageable capital base than a rising-debt profile and may preserve some capacity to withstand industry pressure, despite recent earnings weakness.
Negative Factors
Sustained Revenue Contraction
The 29.5% revenue decline in 2026, alongside negative growth across multiple years, signals weakening demand or reduced sales activity in the company’s core stone business. Persistent top-line contraction can reduce operating leverage, weaken supplier and customer scale benefits, and make recovery more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Lower Debt with Material Equity
Debt has declined materially from 2.05B in 2023 to 1.52B in 2026, while 2026 equity remains 1.74B. This provides a more manageable capital base than a rising-debt profile and may preserve some capacity to withstand industry pressure, despite recent earnings weakness.
Read all positive factors
ARO Granite Industries Limited (AROGRANITE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹344.25M
Dividend Yield2.99%
Average Volume (3M)1.04K
Price to Earnings (P/E)―
Beta (1Y)1.73
Revenue Growth-40.39%
EPS Growth-171.42%
CountryIN
Employees150
SectorGeneral
Sector StrengthN/A
IndustryConstruction Materials
Share Statistics
EPS (TTM)-12.68
Shares Outstanding15,300,000
10 Day Avg. Volume730
30 Day Avg. Volume1,043
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)0.17
Price to Sales (P/S)0.39
P/FCF Ratio14.30
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
ARO Granite Industries Limited Business Overview & Revenue Model
Company Description
Aro Granite Industries Limited, established in 1988 and headquartered in Hosur, India, specializes in the production and distribution of finished granite products. The company primarily focuses on the Indian market, crafting both polished and flam...
How the Company Makes Money
ARO Granite Industries Limited generates revenue primarily by selling processed granite and related natural-stone products to customers in the construction and building-materials market. Its earnings are driven by (i) product sales volume (e.g., g...
ARO Granite Industries Limited Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
44
Neutral
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 671.03M | 735.16M | 1.23B | 1.55B | 1.64B | 2.25B |
| Gross Profit | 53.37M | 147.65M | 531.97M | 748.15M | 291.19M | 865.78M |
| EBITDA | 46.21M | 133.19M | 159.63M | 312.34M | 196.01M | 314.45M |
| Net Income | -193.28M | -118.17M | -64.23M | 13.14M | -57.88M | 89.06M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 3.94B | 4.20B | 4.45B | 4.50B | 4.51B |
| Cash, Cash Equivalents and Short-Term Investments | 94.86M | 128.82M | 58.80M | 63.18M | 24.78M | 34.36M |
| Total Debt | 0.00 | 1.52B | 1.60B | 1.89B | 2.05B | 1.99B |
| Total Liabilities | -1.74B | 2.20B | 2.34B | 2.53B | 2.60B | 2.55B |
| Stockholders Equity | 1.74B | 1.74B | 1.86B | 1.92B | 1.91B | 1.96B |
Cash Flow | ||||||
| Free Cash Flow | 157.53M | 20.19M | 326.23M | 348.83M | 105.55M | -246.68M |
| Operating Cash Flow | 157.89M | 21.56M | 330.13M | 350.34M | 139.57M | -181.49M |
| Investing Cash Flow | 1.64M | 23.98M | 2.17M | 416.00K | -30.28M | -61.89M |
| Financing Cash Flow | -151.94M | -4.30M | -335.31M | -323.47M | -145.30M | 239.37M |
ARO Granite Industries Limited Technical Analysis
Negative
32.99
Price Trends
24.28
Negative
24.81
Negative
26.04
Negative
Market Momentum
-0.45
Positive
41.06
Neutral
23.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AROGRANITE, the sentiment is Negative. The current price of 32.99 is above the 20-day moving average (MA) of 23.37, above the 50-day MA of 24.28, and above the 200-day MA of 26.04, indicating a bearish trend. The MACD of -0.45 indicates Positive momentum. The RSI at 41.06 is Neutral, neither overbought nor oversold. The STOCH value of 23.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:AROGRANITE.
ARO Granite Industries Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | ₹356.51M | 11.64 | ― | ― | 23.37% | -68.54% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹21.67B | 22.84 | ― | 0.09% | -35.05% | -48.06% | |
47 Neutral | ₹14.25B | 61.38 | ― | 2.50% | 18.50% | -67.27% | |
45 Neutral | ₹326.21M | -131.08 | ― | 0.51% | 7.43% | 72.12% | |
41 Neutral | ₹344.25M | -1.75 | ― | 2.99% | -40.39% | -171.42% | |
41 Neutral | ₹219.55M | -9.92 | ― | ― | -32.58% | -234.93% |
* General Sector Average
IN:AROGRANITE
ARO Granite Industries Limited
21.93
-16.37
-42.74%
IN:ASIANTILES
Asian Granito India Limited
46.84
-10.67
-18.55%
IN:LEXUS
Lexus Granito (India) Ltd.
10.81
-16.13
-59.87%
IN:MADHAV
Madhav Marbles & Granites Ltd.
34.07
-9.56
-21.91%
IN:ORIENTALTL
Oriental Trimex Limited
4.98
-5.26
-51.37%
IN:POKARNA
Pokarna Limited
700.45
-68.82
-8.95%
ARO Granite Industries Limited Corporate Events
ARO Granite launches postal ballot, highlights regulatory compliance
Sep 17, 2026
ARO Granite Industries Limited has notified the stock exchanges that it has dispatched a postal ballot notice to its members and has published the related advertisement in newspapers, in line with SEBI’s listing and disclosure regulations. T...
Aro Granite Seeks Shareholder Nod for Jaipur Unit Sale and US Related-Party Deal
Sep 16, 2026
Aro Granite Industries Limited has launched a postal ballot process to seek shareholder approval via remote e‑voting on two key resolutions affecting its asset base and group structure. The company is proposing a slump sale of its Jaipur uni...
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.