---
title: "Aplab Ltd (APLAB) — Share Price, Financials & Analysis"
symbol: "APLAB"
company: "Aplab Ltd"
canonical: "https://tapetide.com/stocks/APLAB"
bse_code: "517096"
sector: "Industrials"
industry: "Electrical Equipment"
generated_at: "2026-09-13T18:55:59.915Z"
---

# Aplab Ltd (APLAB)

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

## Company

- **BSE Code:** 517096
- **Sector:** Industrials
- **Industry:** Electrical Equipment
- **Macro Sector:** Industrials
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** aplab.com

## About

Incorporated in 1962, Aplab Ltd manufactures 
& markets Professional Electronic Equipment business[1]

## Latest Price

- **Price:** ₹75
- **Change:** -0.7 (-0.92%)
- **Open:** ₹75.33
- **Day High:** ₹79.44
- **Day Low:** ₹72.26
- **Previous Close:** ₹75.7
- **Volume:** 3867
- **As Of:** 2026-09-11T11:09:09+00:00

## Key Insights

### Strengths

- Company has reduced debt.
- Debtor days have improved from 116 to 53.9 days.

### Weaknesses

- Stock is trading at 9.37 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 1.97% over past five years.
- Earnings include an other income of Rs.3.24 Cr.
- Promoter holding has decreased over last 3 years: -19.4%

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -184% | 2% | 53% |
| revenue growth | -24% | 4% | 2% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 10.88 | 11.93 | 17.61 | 9.93 | 13.86 | 15.94 | 23.93 | 15.45 | 17.35 | 11.29 | 14.35 | 9.61 |
| Expenses | 9.34 | 11.19 | 15.88 | 9.1 | 13.26 | 23.94 | 25.33 | 13.71 | 14.29 | 11.29 | 16.17 | 12.17 |
| Operating Profit | 1.54 | 0.74 | 1.73 | 0.83 | 0.6 | -8 | -1.4 | 1.74 | 3.06 | 0 | -1.82 | -2.56 |
| OPM % | 14.15 | 6.2 | 9.82 | 8.36 | 4.33 | -50.19 | -5.85 | 11.26 | 17.64 | 0 | -12.68 | -26.64 |
| Other Income | 0.06 | 0.05 | -0.03 | 0.06 | 1.88 | 0.46 | 2.69 | 0.19 | 0.08 | 1.46 | 1.61 | 0.09 |
| Interest | 1.35 | 0.33 | 1.09 | 0.67 | 0.82 | 0.77 | 0.95 | 0.68 | 0.95 | 0.3 | 0.54 | 0.39 |
| Depreciation | 0.11 | 0.08 | 0.12 | 0.12 | 0.13 | 0.1 | 0.13 | 0.12 | 0.11 | 0.11 | 0.12 | 0.2 |
| Profit before tax | 0.14 | 0.38 | 0.49 | 0.1 | 1.53 | -8.41 | 0.21 | 1.13 | 2.08 | 1.05 | -0.87 | -3.06 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | -3252.38 | 24.78 | 22.6 | 25.71 | -16.09 | -17.65 |
| Net Profit | 0.14 | 0.38 | 0.49 | 0.1 | 1.53 | -8.41 | 7.04 | 0.85 | 1.61 | 0.78 | -0.72 | -2.52 |
| EPS in Rs | 0.06 | 0.17 | 0.22 | 0.05 | 0.69 | -3.35 | 2.8 | 0.34 | 0.64 | 0.31 | -0.29 | -1 |

### Profit & Loss

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 61.03 | 53.19 | 51.47 | 53.02 | 51.36 | 51.48 | 49.05 | 63.67 | 58.44 | 52.6 |
| Expenses | 65.02 | 55.68 | 47.45 | 47.75 | 44.42 | 45.27 | 44.52 | 71.65 | 55.44 | 53.92 |
| Operating Profit | -3.99 | -2.49 | 4.02 | 5.27 | 6.94 | 6.21 | 4.53 | -7.98 | 3 | -1.32 |
| OPM % | -6.54 | -4.68 | 7.81 | 9.94 | 13.51 | 12.06 | 9.24 | -12.53 | 5.13 | -2.51 |
| Other Income | 0.38 | 18.5 | 3.42 | 1.32 | -1.08 | -1.72 | 0.24 | 5.09 | 3.34 | 3.24 |
| Interest | 10.82 | 8.06 | 6.21 | 6.6 | 5.31 | 3.84 | 3.53 | 3.2 | 2.48 | 2.18 |
| Depreciation | 1.44 | 1.29 | 1.02 | 0.38 | 0.38 | 0.45 | 0.44 | 0.49 | 0.46 | 0.54 |
| Profit before tax | -15.87 | 6.66 | 0.21 | -0.39 | 0.17 | 0.2 | 0.8 | -6.58 | 3.4 | -0.8 |
| Tax % | 0 | 18.77 | 0 | 0 | 0 | 0 | 0 | -103.8 | 25.88 | — |
| Net Profit | -15.87 | 5.41 | 0.21 | -0.39 | 0.17 | 0.2 | 0.8 | 0.26 | 2.52 | -0.85 |
| EPS in Rs | -7.94 | 2.7 | 0.1 | -0.2 | 0.08 | 0.1 | 0.36 | 0.1 | 1 | -0.34 |
| 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 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 10 | 10 | 11.09 | 12.57 | 15.71 |
| Reserves | -23.03 | -37.54 | -31.64 | -31.38 | -31.08 | -30.76 | -29.81 | -3.83 | -2.19 | 4.3 |
| Borrowings | 66.3 | 70.28 | 70.2 | 71.36 | 71.71 | 47.62 | 50.24 | 28.84 | 29.95 | 18.82 |
| Other Liabilities | 70.61 | 68.55 | 59.67 | 48.54 | 43.9 | 39.54 | 45.08 | 35.24 | 29.62 | 19.23 |
| Total Liabilities | 118.88 | 106.29 | 103.23 | 93.52 | 89.53 | 66.4 | 75.51 | 71.34 | 69.95 | 58.06 |
| Fixed Assets | 51.61 | 16.78 | 4.26 | 3.7 | 3.47 | 6.54 | 7.37 | 7.03 | 6.72 | 10.08 |
| CWIP | 0.35 | 0.82 | 2.35 | 3.59 | 3.88 | 1.08 | 0 | 0.49 | 1.21 | 0.26 |
| Investments | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 |
| Other Assets | 66.9 | 88.67 | 96.6 | 86.21 | 82.16 | 58.76 | 68.12 | 63.8 | 61.99 | 47.69 |
| Total Assets | 118.88 | 106.29 | 103.23 | 93.52 | 89.53 | 66.4 | 75.51 | 71.34 | 69.95 | 58.06 |

### Cash Flow

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 4.45 | -27.5 | 2.32 | -23.38 | -1.02 | 18.73 | -2.89 | 0.15 | 1.89 | 13.56 |
| Cash from Investing Activity | -0.42 | -1.57 | 20.69 | 31.67 | -0.25 | -0.38 | 0.02 | 0.18 | -0.73 | -2.49 |
| Cash from Financing Activity | -7.16 | 30.06 | -23.37 | -8.33 | 0.35 | -19.1 | 2.62 | -0.08 | 0.67 | -7.58 |
| Net Cash Flow | -3.13 | 0.99 | -0.36 | -0.03 | -0.92 | -0.75 | -0.25 | 0.25 | 1.82 | 3.49 |
| Free Cash Flow | 4.03 | -29.08 | 22.78 | 8.08 | -1.48 | 18.16 | -3.06 | -0.44 | 0.98 | 10.69 |
| CFO/OP | -192 | 689 | -93 | -582 | -19 | 270 | -47 | 3 | -17 | 242 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 88.92 | 36.42 | 131.89 | 134.24 | 104.71 | 124.51 | 212.92 | 169.22 | 124.51 | 53.9 |
| Inventory Days | 102.72 | 168.84 | 184.91 | 301.69 | 243.23 | 300.66 | 544.09 | 663.21 | 193.62 | 279.62 |
| Days Payable | 18.98 | 156.27 | 152.7 | 164.5 | 167.18 | 129.08 | 194.05 | 190.71 | 98.96 | 31.39 |
| Cash Conversion Cycle | 172.66 | 48.99 | 164.11 | 271.42 | 180.76 | 296.09 | 562.96 | 641.72 | 219.18 | 302.13 |
| Working Capital Days | -462.58 | -255.08 | -276.61 | -328.98 | -320.05 | -293.58 | -194.91 | 3.13 | -17.2 | 3.68 |
| ROCE % | -4.91 | -11.74 | -8.51 | 7.41 | 13.71 | 18.98 | 21.64 | 14.91 | -8.87 | 14.83 |

## Shareholding Pattern

### annual

| Category | Dec 2011 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 59.29% | 58.96% | 58.97% | 58.97% | 58.54% | 49.06% | 59.29% | 59.29% | 63.28% | 67.6% | 43.83% | 43.83% |
| DIIs | 0.02% | 0.05% | 0.11% | 0.11% | 0.11% | 0.05% | 0.02% | 0.02% | 0.02% | 0.02% | 0.01% | 0.01% |
| Public | 40.7% | 41% | 40.92% | 40.92% | 41.35% | 50.9% | 40.69% | 40.69% | 36.69% | 32.38% | 56.16% | 56.16% |
| No. of Shareholders | 4745 | 4083 | 3937 | 3875 | 3831 | 3902 | 4517 | 4536 | 4875 | 5490 | 5367 | 5217 |

### 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 | 63.28% | 63.28% | 63.28% | 63.28% | 63.28% | 67.61% | 67.6% | 67.6% | 43.83% | 43.83% | 43.83% | 43.83% |
| DIIs | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 36.69% | 36.71% | 36.69% | 36.69% | 36.7% | 32.37% | 32.38% | 32.38% | 56.16% | 56.15% | 56.16% | 56.16% |
| No. of Shareholders | 4536 | 4560 | 4875 | 5191 | 5121 | 5426 | 5490 | 5804 | 5619 | 5404 | 5367 | 5217 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 0 / 7 / 12

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 75.34 | Sell |
| EMA (10) | 75.43 | Sell |
| SMA (20) | 77.41 | Sell |
| EMA (20) | 76.22 | Sell |
| SMA (50) | 79.52 | Sell |
| EMA (50) | 79.92 | Sell |
| SMA (100) | 89.93 | Sell |
| EMA (100) | 82.56 | Sell |
| SMA (200) | 81.43 | Sell |
| EMA (200) | 78.84 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 46.21 | Neutral |
| MACD (12,26,9) | -1.2 | Sell |
| Stochastic (14,3,3) | 24.06 | Neutral |
| ADX (14) | 14.96 | Neutral |
| Williams %R (14) | -72.75 | Neutral |
| ATR (14) | 6.58 | High Volatility |
| ROC (12) | -11.54 | Sell |
| Stoch RSI (14) | 28.82 | Neutral |
| UO (7,14,28) | 41.2 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 6 Aug - 61st AGM on 28 Aug 2026; annual report issued, with Nishith Deodhar and Tanvi Paharia appointments. | [Reg. 34 (1) Annual Report. 6 Aug - 61st AGM on 28 Aug 2026; annual report issued, with Nishith Deodhar and Tanvi Paharia appointments.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8fc76c74-ca20-406e-a0f9-ba9e471436b7.pdf) |
| 29 Aug - 61st AGM resolutions passed on 28 Aug 2026; appoints Executive Director Nishith Deodhar and NED Tanvi Jain. | [E-Voting Results By The Managing Director For The 61St AGM Held On 28Th August, 2026. 29 Aug - 61st AGM resolutions passed on 28 Aug 2026; appoints Executive Director Nishith Deodhar and NED Tanvi Jain.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=213ef812-0ed0-416f-b021-57e3515be4c6.pdf) |
| 28 Aug - Management Address proposed to be delivered at the 61st Annual General Meeting of the Company on 28th August, 2026 | [Announcement under Regulation 30 (LODR)-Investor Presentation 28 Aug - Management Address proposed to be delivered at the 61st Annual General Meeting of the Company on 28th August, 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6e21b123-df1c-4423-8c7c-4d3dbd55c0e0.pdf) |
| 13 Aug - Aplab reports ₹629 lakh rights issue proceeds fully utilized; monitoring agency confirms no deviation for quarter ended June 30, 2026. | [Intimation Regarding Utilization Of Rights Issue Proceeds 13 Aug - Aplab reports ₹629 lakh rights issue proceeds fully utilized; monitoring agency confirms no deviation for quarter ended June 30, 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7bff6700-f51a-49aa-8bdb-3ab5cc755e65.pdf) |
| — | [Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 29 Aug](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d875308e-1fef-49e1-baa2-61e595d6632c.pdf) |
| — | [Shareholder Meeting / Postal Ballot-Outcome of AGM 28 Aug](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c5974017-a515-44c8-a6dc-d16c07062b7b.pdf) |
| — | [61St Annual General Meeting Scheduled To Be Held On 28Th August 2026 13 Aug](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ffcddc2a-e19f-4ed4-b35e-3d3aa299c140.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2026 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8fc76c74-ca20-406e-a0f9-ba9e471436b7.pdf) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8f316c32-adf5-4681-8052-9f7e80409099.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/565f1693-5503-45ec-a530-ec3ad76d60fe.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/825dad4d-7314-4544-9ce8-6fa6988c36a7.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/517096/77267517096.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/517096/72738517096_24_11_21.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/517096/67178517096.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/517096/5170960319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/517096/5170960318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/517096/5170960317.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 2026-09-13T18:55:59.915Z.