---
title: "Aroni Commercials Ltd(Merged) (512273) — Share Price, Financials & Analysis"
symbol: "512273"
company: "Aroni Commercials Ltd(Merged)"
canonical: "https://tapetide.com/stocks/512273"
isin: "INE484B01016"
bse_code: "512273"
sector: "Financial Services"
industry: "Finance"
generated_at: "2026-09-13T19:39:02.314Z"
---

# Aroni Commercials Ltd(Merged) (512273)

Canonical page: https://tapetide.com/stocks/512273

## Company

- **BSE Code:** 512273
- **ISIN:** INE484B01016
- **Sector:** Financial Services
- **Industry:** Finance
- **Macro Sector:** Financial Services
- **Stock Type:** DELISTED
- **Listed Since:** 2006-03-01
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** aronicommercials.com

## About

Aroni Commercials Limited is an India-based company engaged in the business of investments and sub broking activities. The Company is engaged in the activities of investment in shares/bonds.

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.
- Stock is trading at 0.60 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -5.43% over past five years.
- Company has a low return on equity of 8.16% over last 3 years.
- Working capital days have increased from 719 days to 2,404 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -99% | 259% | 38% |
| revenue growth | -153% | 13% | -5% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.93 | 1.55 | 0.81 | 0.55 | 0.03 | 5.92 | 5.4 | 0.36 | -10.8 | 1.74 | 0.3 | 2.51 |
| Expenses | 0.35 | 0.15 | 0.22 | 0.23 | 0.25 | 0.14 | 0.18 | 0.18 | 0.26 | 0.17 | 0.18 | 0.19 |
| Operating Profit | 0.58 | 1.4 | 0.59 | 0.32 | -0.22 | 5.78 | 5.22 | 0.18 | -11.06 | 1.57 | 0.12 | 2.32 |
| OPM % | 62.37 | 90.32 | 72.84 | 58.18 | -733.33 | 97.64 | 96.67 | 50 | — | 90.23 | 40 | 92.43 |
| Other Income | 0.02 | 0.05 | 0.59 | 0.01 | 0 | 0.36 | 0.67 | 3.83 | 7.15 | 0.09 | 0.07 | 0 |
| Interest | 0 | 0 | 0.04 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 | 0 |
| Depreciation | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.05 | 0.01 | 0.01 | 0.01 |
| Profit before tax | 0.59 | 1.43 | 1.12 | 0.31 | -0.24 | 6.13 | 5.88 | 3.99 | -3.96 | 1.65 | 0.18 | 2.31 |
| Tax % | 118.64 | 0 | 0 | 0 | 66.67 | 0 | 0 | 0 | 0.51 | 0 | 0 | 0 |
| Net Profit | -0.12 | 1.44 | 1.12 | 0.32 | -0.4 | 6.13 | 5.88 | 3.99 | -3.98 | 1.65 | 0.18 | 2.31 |
| EPS in Rs | -0.29 | 3.51 | 2.73 | 0.78 | -0.98 | 14.95 | 14.34 | 9.73 | -9.71 | 4.02 | 0.44 | 5.63 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 8.74 | 0.25 | 1.13 | 2.75 | 0.77 | 1.43 | 2.83 | 3.32 | 2.08 | -6.25 |
| Expenses | 0.39 | 0.22 | 0.45 | 0.89 | 0.47 | 0.61 | 0.69 | 0.91 | 0.88 | 0.8 |
| Operating Profit | 8.35 | 0.03 | 0.68 | 1.86 | 0.3 | 0.82 | 2.14 | 2.41 | 1.2 | -7.05 |
| OPM % | 95.54 | 12 | 60.18 | 67.64 | 38.96 | 57.34 | 75.62 | 72.59 | 57.69 | 112.8 |
| Other Income | 0 | 0.48 | 0.31 | 0 | 0.03 | 0.04 | 0 | 0.33 | 10.93 | 7.31 |
| Interest | 0 | 0.08 | 0.3 | 0.06 | 0.02 | 0.01 | 0 | 0.04 | 0.01 | 0 |
| Depreciation | 0.03 | 0.21 | 0.15 | 0.11 | 0.09 | 0.06 | 0.05 | 0.07 | 0.08 | 0.08 |
| Profit before tax | 8.32 | 0.22 | 0.54 | 1.69 | 0.22 | 0.79 | 2.09 | 2.63 | 12.04 | 0.18 |
| Tax % | 10.58 | -9.09 | -51.85 | -42.01 | -168.18 | 65.82 | 33.49 | 6.08 | 0.17 | — |
| Net Profit | 7.44 | 0.24 | 0.82 | 2.4 | 0.59 | 0.26 | 1.39 | 2.47 | 12.03 | 0.16 |
| EPS in Rs | 18.15 | 0.59 | 2 | 5.85 | 1.44 | 0.63 | 3.39 | 6.02 | 29.34 | 0.38 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 4.13 | 4.13 | 4.13 | 4.13 | 4.13 | 4.13 | 4.13 | 4.13 | 4.13 | 4.13 |
| Reserves | 44.6 | 52.04 | 52.28 | 53.1 | 55.5 | 56.1 | 56.36 | 57.76 | 60.23 | 72.26 |
| Borrowings | 0 | 0.68 | 0.57 | 0.45 | 0.31 | 0.16 | 0 | 0 | 0 | 0 |
| Other Liabilities | 4.37 | 5.26 | 4.09 | 2.18 | 0.02 | 0.06 | 0.43 | 4.32 | 0.17 | 0.46 |
| Total Liabilities | 53.1 | 62.11 | 61.07 | 59.86 | 59.96 | 60.45 | 60.92 | 66.21 | 64.53 | 76.85 |
| Fixed Assets | 0.05 | 0.85 | 0.64 | 0.45 | 0.33 | 0.26 | 0.19 | 0.14 | 0.09 | 0.11 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 25.03 | 51.4 | 54.37 | 55.01 | 55.92 | 55.87 | 56.74 | 62.17 | 60.46 | 59.85 |
| Other Assets | 28.02 | 9.86 | 6.06 | 4.4 | 3.71 | 4.32 | 3.99 | 3.9 | 3.98 | 16.89 |
| Total Assets | 53.1 | 62.11 | 61.07 | 59.86 | 59.96 | 60.45 | 60.92 | 66.21 | 64.53 | 76.85 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -2.68 | 17.42 | 3.23 | -0.61 | -1.77 | -0.8 | -0.03 | 2.82 | -5.37 | -13.17 |
| Cash from Investing Activity | 3.29 | -18.7 | -3.12 | 0.71 | 1.85 | 0.81 | 0.07 | -2.84 | 5.4 | 13.17 |
| Cash from Financing Activity | 0 | 0.68 | -0.1 | -0.13 | -0.06 | -0.02 | -0.01 | 0 | -0.04 | -0.01 |
| Net Cash Flow | 0.61 | -0.6 | 0.01 | -0.03 | 0.02 | -0.01 | 0.03 | -0.02 | 0 | -0.02 |
| Free Cash Flow | -2.68 | 16.59 | 3.23 | -0.42 | -1.77 | -0.82 | -0.03 | 2.82 | -5.39 | -13.27 |
| CFO/OP | -28 | 219 | 11833 | -60 | -67 | -250 | -22 | 163 | -203 | -1137 |

### Ratios

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 13.38 | 146.58 | 262.8 | 9.69 | 0 | 28.44 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 13.38 | 146.58 | 262.8 | 9.69 | 0 | 28.44 | 0 | 0 | 0 | 0 |
| Working Capital Days | 1229.33 | 189.18 | 2715.6 | 697.7 | 151.31 | 639.94 | 265.45 | -370.16 | 123.13 | 2404.09 |
| ROCE % | 14.25 | 15.76 | 0.53 | 1.2 | 2.98 | 0.4 | 1.32 | 3.42 | 4.23 | 17.12 |

## Shareholding Pattern

### annual

| Category | Mar 2017 |
| --- | --- |
| Promoters | 75% |
| Public | 25% |
| No. of Shareholders | 1081 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 |
| --- | --- | --- | --- | --- |
| Promoters | 75% | 75% | 75% | 75% |
| Public | 25% | 25% | 25% | 25% |
| No. of Shareholders | 1060 | 1059 | 1068 | 1081 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 5 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 362.51 | Sell |
| EMA (10) | 362.56 | Sell |
| SMA (20) | 372.74 | Sell |
| EMA (20) | 368.67 | Sell |
| SMA (50) | 378.33 | Sell |
| EMA (50) | 375.97 | Sell |
| SMA (100) | 382.71 | Sell |
| EMA (100) | 382.48 | Sell |
| SMA (200) | 393.85 | Sell |
| EMA (200) | 397.33 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 38.96 | Neutral |
| MACD (12,26,9) | -6.8 | Sell |
| Stochastic (14,3,3) | 23.18 | Neutral |
| ADX (14) | 14.72 | Neutral |
| Williams %R (14) | -80.17 | Buy |
| ATR (14) | 10.41 | Neutral |
| ROC (12) | -6.25 | Sell |
| Stoch RSI (14) | 17.02 | Buy |
| UO (7,14,28) | 41.94 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 February 2026 - Q3 revenue INR50.51 crore (45% QoQ), PAT INR5.72 crore; AkikoPay Android 25,000 downloads, iOS by Feb 15. | [Analysts/Institutional Investor Meet/Con. Call Updates 9 February 2026 - Q3 revenue INR50.51 crore (45% QoQ), PAT INR5.72 crore; AkikoPay Android 25,000 downloads, iOS by Feb 15.](https://nsearchives.nseindia.com/corporate/AKIKOGLOBAL_09022026160457_FinalIntimationAkikoTranscript.pdf) |
| 7 February 2026 - Q3 & 9M FY26: Consolidated revenue ₹50.52m (Q3), ₹115.01m (9M); Q3 PAT ₹5.72m, 9M PAT ₹11.90m. | [General Updates 7 February 2026 - Q3 & 9M FY26: Consolidated revenue ₹50.52m (Q3), ₹115.01m (9M); Q3 PAT ₹5.72m, 9M PAT ₹11.90m.](https://nsearchives.nseindia.com/corporate/AKIKOGLOBAL_07022026160046_Final_Intimation-PPT_Akiko_Feb_2026_Signed.pdf) |
| 6 February 2026 - Q3 consolidated revenue ₹5,061.10 lakh, PAT ₹571.60 lakh; 300,000 ESOPs granted; board meeting 06-Feb-2026. | [General Updates 6 February 2026 - Q3 consolidated revenue ₹5,061.10 lakh, PAT ₹571.60 lakh; 300,000 ESOPs granted; board meeting 06-Feb-2026.](https://nsearchives.nseindia.com/corporate/AKIKOGLOBAL_06022026223509_Final_Outcome_of_BM-_Akiko_Dec_2025_Signed.pdf) |
| 6 February 2026 - Board approved unaudited Q3/9M (31-Dec-2025) results; appointed secretarial auditor; granted 300,000 ESOPs. | [Outcome of Board Meeting 6 February 2026 - Board approved unaudited Q3/9M (31-Dec-2025) results; appointed secretarial auditor; granted 300,000 ESOPs.](https://nsearchives.nseindia.com/corporate/AKIKOGLOBAL_06022026223304_Final_Outcome_of_BM-_Akiko_Dec_2025_Signed.pdf) |
| 6 February 2026 - Board approved unaudited Q3 and nine-month results; consolidated 9M revenue ₹11,521.56 lakh, PAT ₹1,190.09 lakh; granted 300,000 ESOPs. | [Change in Auditors 6 February 2026 - Board approved unaudited Q3 and nine-month results; consolidated 9M revenue ₹11,521.56 lakh, PAT ₹1,190.09 lakh; granted 300,000 ESOPs.](https://nsearchives.nseindia.com/corporate/AKIKOGLOBAL_06022026231941_Final_Outcome_of_BM-_Akiko_Dec_2025_Signed.pdf) |
| 24 Apr 2017 - In pursuance of Regulation 7 (3) of SEBI (LODR) Regulations, 2015, enclosed herewith please find certificate for the half year ended 31st March, 2017 of … | [Compliance Certificate For The Half Year Ended 31St March, 2017 24 Apr 2017 - In pursuance of Regulation 7 (3) of SEBI (LODR) Regulations, 2015, enclosed herewith please find certificate for the half year ended 31st March, 2017 of …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b1782a84-6ca1-49ba-bf33-c41e47eed7d3.pdf) |
| 24 Apr 2017 - In pursuance of Regulation 7 (3) of SEBI (LODR) Regulations, 2015, enclosed herewith please find certificate for the half year ended 31st March, 2017 of … | [Compliance Certificate For The Half Year Ended 31St March, 2017 24 Apr 2017 - In pursuance of Regulation 7 (3) of SEBI (LODR) Regulations, 2015, enclosed herewith please find certificate for the half year ended 31st March, 2017 of …](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/4/b1782a84-6ca1-49ba-bf33-c41e47eed7d3.pdf) |
| 20 February 2026 - January 2026 consolidated turnover Rs19.81 Cr (YoY +143%); Apr–Jan 2026 Rs134.85 Cr (YoY +220%). | [Monthly Business Updates 20 February 2026 - January 2026 consolidated turnover Rs19.81 Cr (YoY +143%); Apr–Jan 2026 Rs134.85 Cr (YoY +220%).](https://nsearchives.nseindia.com/corporate/AKIKOGLOBAL_20022026190459_Intimation_of_Turnover-_Akiko_January_2026.pdf) |
| 20 Apr 2017 - Certificate for share transfer compliance for H1 2017. | [Certificate Under Sub Regulation (9) Of Regulation 40 Of The SEBI (LODR) Regulations, 2015 For The Half Year Ended 31St March, 2017 20 Apr 2017 - Certificate for share transfer compliance for H1 2017.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a75d91d7-36f8-486d-bad9-2439dcdd565a.pdf) |
| 20 Apr 2017 - Certificate for share transfer compliance for H1 2017. | [Certificate Under Regulation 40 (9) Of The SEBI (LODR) Regulations, 2015 For The Half Year Ended 31St March, 2017 20 Apr 2017 - Certificate for share transfer compliance for H1 2017.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8a81fed2-194b-4723-8463-cf609d14edd5.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Jul 2025 | [Concall - Jul 2025](https://nsearchives.nseindia.com/corporate/AKIKOGLOBAL_17072025184334_Intimation_Investor_Presentation.pdf) |
| Dec 2025 | [Concall - Dec 2025](https://nsearchives.nseindia.com/corporate/AKIKOGLOBAL_01122025172416_InvestorPPAkikoDEC2025.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_27341_AKIKO_2024_2025_A_07082025190430.pdf) |
| from nse | [Financial Year 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26375_AKIKO_2023_2024_07122024112548.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/512273/5122730316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/512273/5122730315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/512273/5122730314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/512273/5122730313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/512273/5122730312.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/512273/5122730311.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/512273/5122730310.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:39:02.314Z.