---
title: "Airo Lam Ltd (AIROLAM) — Share Price, Financials & Analysis"
symbol: "AIROLAM"
company: "Airo Lam Ltd"
canonical: "https://tapetide.com/stocks/AIROLAM"
isin: "INE801L01010"
nse_symbol: "AIROLAM"
sector: "Consumer Goods"
industry: "Plywood Boards & Laminates"
market_cap_cr: 126.77
generated_at: "2026-09-13T19:14:35.845Z"
---

# Airo Lam Ltd (AIROLAM)

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

## Company

- **NSE Symbol:** AIROLAM
- **ISIN:** INE801L01010
- **Sector:** Consumer Goods
- **Industry:** Plywood Boards & Laminates
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2021-10-13
- **CEO:** Mr. Pravinkumarbhai Nathalalbhai Patel
- **Employees:** 314
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** airolam.com

## About

Incorporated in 2008, Airolam Ltd is in 
the business of production, processing 
and marketing of decorative laminate 
and plywood[1]

## Latest Price

- **Price:** ₹84.25
- **Change:** -1.12 (-1.31%)
- **Open:** ₹87.95
- **Day High:** ₹87.95
- **Day Low:** ₹83.98
- **Previous Close:** ₹85.37
- **Volume:** 1901
- **As Of:** 2026-09-11T09:54:13+00:00

## Key Fundamentals

Observed at 2026-09-11T04:43:08.024907Z.

- **Market Cap:** ₹126.77 Cr
- **Classification:** Microcap
- **P/E (reported):** 24.4
- **P/E (TTM):** 22.89
- **EPS (TTM):** ₹3.68
- **EPS (reported):** ₹4.85
- **Book Value:** ₹52.37
- **Price to Book:** 1.63
- **Dividend Yield:** 0%
- **ROE:** 3.73%
- **ROCE:** 11.47%
- **Debt to Equity:** 1.04
- **Revenue (yearly):** ₹243.22 Cr
- **Net Income:** ₹5.28 Cr
- **EBITDA:** ₹19.36 Cr
- **52-Week High:** ₹123.3
- **52-Week Low:** ₹78
- **RSI (14):** 40.42

## Tapetide Score

- **Score:** 56 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Flat
- **Percentile:** 74.1 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 31.21 | 9% |
| growth | 63.01 | 9% |
| momentum | 57.53 | 12% |
| ownership | 50 | 24% |
| quality | 74.88 | 22% |
| valuation | 48.55 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 7.47% over last 3 years.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | — | 360.9% | -32.13% |
| ebitda margin growth | -25.93% | 6.59% | -20.48% | -12% |
| net income growth | -78.57% | 95.56% | -9% | 0% |
| revenue growth | -16.02% | 12.19% | 7% | 13% |
| roce | -29.34% | -38.53% | -32.13% | 15.18% |
| roe | -82.14% | -66.76% | 8.83% | -66.03% |

## Financial Statements

### Quarterly Results

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

| Item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 48.64 | 49.95 | 56.86 | 50.92 | 52.28 | 51.79 | 53.99 | 56.17 | 53.68 | 61.85 | 69.76 | 57.92 |
| Expenses | 43.23 | 45.89 | 51.8 | 46.22 | 47.77 | 33.57 | 50.6 | 50.18 | 48.92 | 55.73 | 64.55 | 54.64 |
| Operating Profit | 5.41 | 4.06 | 5.06 | 4.7 | 4.51 | 18.22 | 3.39 | 5.99 | 4.76 | 6.12 | 5.21 | 3.28 |
| OPM % | 11.12 | 8.13 | 8.9 | 9.23 | 8.63 | 35.18 | 6.28 | 10.66 | 8.87 | 9.89 | 7.47 | 5.66 |
| Other Income | 0.17 | 0.58 | 0.07 | 0.63 | 1.57 | -0.06 | 0.22 | 0.81 | 0.39 | -0.01 | 0.18 | 0.77 |
| Interest | 1.12 | 1.22 | 1.23 | 1.65 | 1.92 | 0.31 | 1.02 | 2.24 | 2.19 | 1.98 | 2.23 | 2.26 |
| Depreciation | 0.84 | 0.85 | 0.88 | 1.31 | 1.04 | 21.48 | 1.22 | 1.17 | 1.15 | 1.38 | 1.29 | 1.16 |
| Profit before tax | 3.62 | 2.57 | 3.02 | 2.37 | 3.12 | -3.63 | 1.37 | 3.39 | 1.81 | 2.75 | 1.87 | 0.63 |
| Tax % | 27.62 | 35.41 | 37.42 | 29.96 | 33.33 | -10.74 | 20.44 | 17.99 | 32.04 | 13.45 | 25.13 | 60.32 |
| Net Profit | 2.62 | 1.66 | 1.88 | 1.67 | 2.07 | -3.24 | 1.09 | 2.78 | 1.23 | 2.37 | 1.4 | 0.25 |
| EPS in Rs | 1.75 | 1.11 | 1.25 | 1.11 | 1.41 | -2.16 | 0.7 | 1.87 | 0.86 | 1.64 | 0.97 | 0.21 |

### Profit & Loss

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 105 | 133 | 168 | 198 | 205 | 211 | 243 |
| Expenses | 97 | 121 | 154 | 181 | 185 | 197 | 224 |
| Operating Profit | 9 | 12 | 14 | 17 | 19 | 14 | 19 |
| OPM % | 8 | 9 | 8 | 8 | 9 | 6 | 8 |
| Other Income | 1 | 1 | 1 | 1 | 1 | 3 | 1 |
| Interest | 2 | 2 | 3 | 4 | 5 | 7 | 9 |
| Depreciation | 2 | 2 | 3 | 3 | 4 | 5 | 5 |
| Profit before tax | 6 | 8 | 9 | 10 | 12 | 4 | 7 |
| Tax % | 25 | 29 | 28 | 24 | 32 | 36 | 26 |
| Net Profit | 5 | 5 | 7 | 7 | 8 | 3 | 5 |
| EPS in Rs | 3.19 | 3.64 | 4.37 | 4.93 | 5.23 | 1.8 | 3.67 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| Reserves | 29 | 35 | 41 | 49 | 55 | 58 | 64 |
| Borrowings | 34 | 38 | 51 | 63 | 79 | 90 | 82 |
| Other Liabilities | 29 | 42 | 53 | 35 | 42 | 53 | 66 |
| Total Liabilities | 107 | 130 | 159 | 162 | 192 | 216 | 226 |
| Fixed Assets | 11 | 38 | 37 | 36 | 45 | 58 | 55 |
| CWIP | 15 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Other Assets | 82 | 92 | 122 | 126 | 147 | 158 | 171 |
| Total Assets | 107 | 130 | 159 | 162 | 192 | 216 | 226 |

### Cash Flow

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 4 | 20 | -7 | -5 | -1 | 14 | 19 |
| Cash from Investing Activity | -14 | -14 | -3 | -3 | -13 | -18 | -3 |
| Cash from Financing Activity | 9 | -2 | 10 | 8 | 11 | 4 | -17 |
| Net Cash Flow | -1 | 4 | 0 | 0 | -2 | 0 | 0 |
| Free Cash Flow | -11 | 6 | -10 | -7 | -13 | -4 | 17 |
| CFO/OP | 63 | 192 | -40 | -25 | 13 | 113 | 106 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 146 | 114 | 113 | 91 | 98 | 101 | 102 |
| Inventory Days | 181 | 165 | 193 | 175 | 212 | 224 | 198 |
| Days Payable | 115 | 132 | 128 | 64 | 79 | 91 | 110 |
| Cash Conversion Cycle | 212 | 146 | 177 | 202 | 232 | 234 | 190 |
| Working Capital Days | 113 | 78 | 86 | 76 | 76 | 66 | 60 |
| ROCE % | — | 12 | 13 | 12 | 12 | 7 | 10 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 53.01% | 53.01% | 53.02% | 53.02% | 53.03% | 49.46% | 53.14% | 53.14% | 53.14% | 53.41% | 53.41% | 53.41% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 36.36% | 36% | 36.08% | 35.8% | 34.98% | 38.44% | 34.64% | 34.67% | 34.73% | 34.59% | 34.12% | 34.13% |
| Others | 10.62% | 10.98% | 10.9% | 11.19% | 12% | 12.1% | 12.22% | 12.19% | 12.14% | 12% | 12.47% | 12.45% |
| No. of Shareholders | 3821 | 3550 | 4613 | 4424 | 4334 | 4829 | 4607 | 4763 | 4605 | 4406 | 4251 | 4276 |

## 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) | 86.66 | Sell |
| EMA (10) | 86.62 | Sell |
| SMA (20) | 87.53 | Sell |
| EMA (20) | 87.32 | Sell |
| SMA (50) | 88.26 | Sell |
| EMA (50) | 87.87 | Sell |
| SMA (100) | 87.14 | Sell |
| EMA (100) | 88.39 | Sell |
| SMA (200) | 90.51 | Sell |
| EMA (200) | 90.89 | Sell |

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

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 37.2 | Neutral |
| MACD (12,26,9) | -0.75 | Sell |
| Stochastic (14,3,3) | 24.27 | Neutral |
| ADX (14) | 20.77 | Neutral |
| Williams %R (14) | -96.1 | Buy |
| ATR (14) | 3.33 | High Volatility |
| ROC (12) | -4.25 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 30.76 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-03 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/AIROLAM_03092026181846_Covering_Letter_Newspaper_ad.pdf) |
| 2026-09-02 | [General Updates](https://nsearchives.nseindia.com/corporate/AIROLAM_02092026105320_IntimationofWeblink.pdf) |
| 2026-09-02 | [General Updates](https://nsearchives.nseindia.com/corporate/AIROLAM_02092026104849_Intimation_of_Book_Closure.pdf) |
| 2026-09-02 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/AIROLAM_02092026105159_Covering_letter_for_notice.pdf) |
| 2026-08-15 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/AIROLAM_15082026230833_News_paper_intimation.pdf) |
| 2026-08-12 | [General Updates](https://nsearchives.nseindia.com/corporate/AIROLAM_12082026104632_NSE.pdf) |
| 2026-07-23 | [Reply to Clarification- Financial results](https://nsearchives.nseindia.com/corporate/AIROLAM_22072026155859_Clarification_3.pdf) |
| 2026-07-21 | [Change in Auditors](https://nsearchives.nseindia.com/corporate/AIROLAM_21072026160934_Material_Details.pdf) |
| 2026-07-21 | [Disclosure of material issue](https://nsearchives.nseindia.com/corporate/AIROLAM_21072026162227_AIROLAM.pdf) |
| 2026-07-04 | [Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/AIROLAM_04072026175523_Letter_74_5_.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-14 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/AIROLAM_14082026172523_June_2026.pdf) |
| 2026-05-27 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/AIROLAM_27052026184017_March_26.pdf) |
| 2026-02-11 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/AIROLAM_11022026190303_FINAL_RESULT.pdf) |
| 2025-11-14 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/AIROLAM_14112025181557_Financials_2025.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 7 November 2023 - Register of Members & Share Transfer Books of the Company will remain closed from 25-Nov-2023 to 30-Nov-2023 for the purpose of Meeting. | [Book Closure 7 November 2023 - Register of Members & Share Transfer Books of the Company will remain closed from 25-Nov-2023 to 30-Nov-2023 for the purpose of Meeting.](https://nsearchives.nseindia.com/corporate/SRIRAM_07112023164147_Book_Closure_Letter.pdf) |
| 19 March 2024 - NCLT admits Shri Ram Switchgears into CIRP under IBC for Rs3.13 crore default to SIDBI | [Corporate Insolvency Resolution Process 19 March 2024 - NCLT admits Shri Ram Switchgears into CIRP under IBC for Rs3.13 crore default to SIDBI](https://nsearchives.nseindia.com/corporate/SRIRAM_19032024181127_SRSGLCIRP.pdf) |
| 19 January 2026 - Exchange has sought clarification from Airo Lam limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On … | [Clarification - Financial Results 19 January 2026 - Exchange has sought clarification from Airo Lam limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On …](https://www.nseindia.com/get-quotes/equity?symbol=AIROLAM) |
| 14 November 2023 - Unqualified auditor’s review report on Q2 FY24 unaudited financial results | [Financial Result Updates 14 November 2023 - Unqualified auditor’s review report on Q2 FY24 unaudited financial results](https://nsearchives.nseindia.com/corporate/outcome_14112023_14112023165949.pdf) |
| 11 November 2023 - No identifiable company announcement; contains general news articles. | [Press Release 11 November 2023 - No identifiable company announcement; contains general news articles.](https://nsearchives.nseindia.com/corporate/SRIRAM_11112023172331_Book_Closure_Letter_2.pdf) |
| 1 December 2023 - Shri Ram Switchgears Limited has informed regarding Proceedings of Annual General Meeting held on November 30, 2023. Further, the company has informed regarding voting results … | [Shareholders meeting 1 December 2023 - Shri Ram Switchgears Limited has informed regarding Proceedings of Annual General Meeting held on November 30, 2023. Further, the company has informed regarding voting results …](https://nsearchives.nseindia.com/corporate/SRIRAM_01122023135421_AGM_outcome.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/AR_31060_AIROLAM_2025_2026_A_2285530_02092026105508.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/AR_28082_AIROLAM_2024_2025_A_4187439_01092025190706.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/AR_24834_AIROLAM_2023_2024_06082024154835.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/AR_23201_AIROLAM_2022_2023_01092023173119_09012023180000.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/AR_21030_AIROLAM_2021_2022_01092022180912_09012022190004.zip) |
| from nse | [Financial Year 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_21726_SRIRAM_2021_2022_08092022181240_09082022190027.zip) |
| from nse | [Financial Year 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_19698_SRIRAM_2020_2021_08092021130044_09082021140003.zip) |
| from nse | [Financial Year 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_17360_SRIRAM_2019_2020_05092020135010_05092020140002.zip) |
| from nse | [Financial Year 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_16068_SRIRAM_2018_2019_27092019124908_27092019130008.zip) |
| from nse | [Financial Year 2018 from nse](https://archives.nseindia.com/annual_reports/SME_AR_13818_SRIRAM_2017_2018_29092018174250.zip) |

---

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 2026-09-13T19:14:35.845Z.