---
title: "Armour Security (India) Ltd (ARMOUR) — Share Price, Financials & Analysis"
symbol: "ARMOUR"
company: "Armour Security (India) Ltd"
canonical: "https://tapetide.com/stocks/ARMOUR"
isin: "INE0TZX01019"
nse_symbol: "ARMOUR"
sector: "Construction"
industry: "Civil Construction"
market_cap_cr: 29.44
generated_at: "2026-09-13T18:57:12.785Z"
---

# Armour Security (India) Ltd (ARMOUR)

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

## Company

- **NSE Symbol:** ARMOUR
- **ISIN:** INE0TZX01019
- **Sector:** Construction
- **Industry:** Civil Construction
- **Macro Sector:** Services
- **Stock Type:** EQUITY
- **Listed Since:** 2026-01-22
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** armoursecurities.com

## About

Incorporated in August 1999, Armour Security India specializes in providing a range of security services including armed guarding, manpower & consultancy services.[1]

## Latest Price

- **Price:** ₹17.45
- **Change:** 0 (0%)
- **Open:** ₹16.65
- **Day High:** ₹17.45
- **Day Low:** ₹16.65
- **Previous Close:** ₹17.45
- **Volume:** 4000
- **As Of:** 2026-09-11T09:47:13+00:00

## Key Fundamentals

Observed at 2026-09-11T04:30:42.803469Z.

- **Market Cap:** ₹29.44 Cr
- **Classification:** SME
- **P/E (reported):** 5.5
- **Book Value:** ₹27.72
- **Price to Book:** 0.63
- **Dividend Yield:** 0%
- **ROE:** 21.56%
- **ROCE:** 27.56%
- **Debt to Equity:** 0.02

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.63 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Contingent liabilities of Rs.9.02 Cr.
- Working capital days have increased from 45.1 days to 93.0 days

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | 34% | 33% |
| revenue growth | 32% | 18% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Sales | 17.23 | 18.42 | 19.68 | 27.4 |
| Expenses | 13.77 | 16.9 | 15.38 | 23.51 |
| Operating Profit | 3.46 | 1.52 | 4.3 | 3.89 |
| OPM % | 20.08 | 8.25 | 21.85 | 14.2 |
| Other Income | 0.09 | 0.81 | 0.01 | 0.09 |
| Interest | 0.1 | 0.25 | 0.34 | 0.29 |
| Depreciation | 0.11 | 0.11 | 0.09 | 0.1 |
| Profit before tax | 3.34 | 1.97 | 3.88 | 3.59 |
| Tax % | 25.45 | 24.87 | 25.26 | 32.87 |
| Net Profit | 2.49 | 1.49 | 2.9 | 2.41 |
| EPS in Rs | 2.04 | 1.22 | 2.37 | 1.43 |

### Profit & Loss

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

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 26.81 | 28.85 | 32.93 | 35.66 | 47.08 |
| Expenses | 26.22 | 25.68 | 29.21 | 30.63 | 38.9 |
| Operating Profit | 0.59 | 3.17 | 3.72 | 5.03 | 8.18 |
| OPM % | 2.2 | 10.99 | 11.3 | 14.11 | 17.37 |
| Other Income | 0.1 | 0.12 | 0.17 | 0.91 | 0.11 |
| Interest | 0.08 | 0.08 | 0.17 | 0.41 | 0.63 |
| Depreciation | 0.22 | 0.19 | 0.22 | 0.22 | 0.19 |
| Profit before tax | 0.39 | 3.02 | 3.5 | 5.31 | 7.47 |
| Tax % | 25.64 | 25.17 | 25.14 | 25.05 | 28.92 |
| Net Profit | 0.29 | 2.26 | 2.62 | 3.97 | 5.31 |
| EPS in Rs | — | — | 2.14 | 3.25 | 3.15 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.01 | 0.01 | 12.22 | 12.22 | 16.87 |
| Reserves | 1.25 | 3.48 | 2.24 | 6.21 | 29.9 |
| Borrowings | 0.7 | 0.85 | 1.8 | 4.69 | 1.06 |
| Other Liabilities | 9.99 | 11.17 | 7.35 | 4.25 | 3.49 |
| Total Liabilities | 11.95 | 15.51 | 23.61 | 27.37 | 51.32 |
| Fixed Assets | 0.83 | 0.75 | 7.3 | 7.69 | 7.93 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 11.12 | 14.76 | 16.31 | 19.68 | 43.39 |
| Total Assets | 11.95 | 15.51 | 23.61 | 27.37 | 51.32 |

### Cash Flow

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

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | 0.45 | 0.6 | 0.23 | -0.82 |
| Cash from Investing Activity | — | -0.55 | -2.01 | -4.01 | -11.04 |
| Cash from Financing Activity | — | 0.12 | 2.72 | 2.56 | 22.28 |
| Net Cash Flow | — | 0.02 | 1.31 | -1.23 | 10.42 |
| Free Cash Flow | — | 0.34 | 0.22 | -0.36 | -1.25 |
| CFO/OP | — | 26 | 30 | 29 | 20 |

### Ratios

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | 86.45 | 117.15 | 85.9 | 83.11 | 109.08 |
| Cash Conversion Cycle | 86.45 | 117.15 | 85.9 | 83.11 | 109.08 |
| Working Capital Days | -33.9 | -7.08 | 10.64 | 31.73 | 93.03 |
| ROCE % | — | 98.41 | 35.63 | 29 | 22.83 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- |
| Promoters | 96.81% | 70.12% | 70.12% |
| FIIs | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% |
| Government | 0% | 0% | 0% |
| Public | 0% | 23.14% | 22.9% |
| Others | 3.19% | 6.73% | 6.97% |
| No. of Shareholders | 16 | 698 | 663 |

## 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 / 9 / 10

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 17.94 | Sell |
| EMA (10) | 17.89 | Sell |
| SMA (20) | 18.28 | Sell |
| EMA (20) | 18.16 | Sell |
| SMA (50) | 18.86 | Sell |
| EMA (50) | 19.1 | Sell |
| SMA (100) | 20.32 | Sell |
| EMA (100) | 21.34 | Sell |
| SMA (200) | — | Neutral |
| EMA (200) | — | Neutral |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 41.77 | Neutral |
| MACD (12,26,9) | -0.36 | Sell |
| Stochastic (14,3,3) | 27.86 | Neutral |
| ADX (14) | 14.66 | Neutral |
| Williams %R (14) | -64.44 | Neutral |
| ATR (14) | 0.62 | High Volatility |
| ROC (12) | -4.64 | Sell |
| Stoch RSI (14) | 27.84 | Neutral |
| UO (7,14,28) | 56.35 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Feb - Unaudited Q3 and 9-month results to 31-Dec-2025; Q3 PAT Rs 2,909 lakhs; 9M PAT Rs 8,882 lakhs. | [UFR 31.12.2025 9 Feb - Unaudited Q3 and 9-month results to 31-Dec-2025; Q3 PAT Rs 2,909 lakhs; 9M PAT Rs 8,882 lakhs.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ef174c98-bee3-49b8-b667-488b3e03d742.pdf) |
| 9 Feb - Unaudited Q3 & 9M standalone and consolidated results ended 31 Dec 2025: Q3 revenue Rs138.31 crore; Q3 PAT Rs29.09 crore. | [Revised Unaudited Financial Results 31.12.2025 9 Feb - Unaudited Q3 & 9M standalone and consolidated results ended 31 Dec 2025: Q3 revenue Rs138.31 crore; Q3 PAT Rs29.09 crore.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7a7537b4-07f9-4a1e-a642-b6fcd6908a39.pdf) |
| 9 Feb - Q3 revenue ₹138Cr; 9M ₹376Cr. To buy 1,505,100 JV shares for ₹16.09Cr, raising stake to 51%. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 9 Feb - Q3 revenue ₹138Cr; 9M ₹376Cr. To buy 1,505,100 JV shares for ₹16.09Cr, raising stake to 51%.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d284cf26-baca-4035-99c7-bf384d716dc8.pdf) |
| 9 Feb - Board approved purchase of 15,05,100 shares for Rs16.09 crore; stake increases to 51% (Green Woods becomes subsidiary). | [Board Meeting Outcome for Out Come Of Board Meeting 9 Feb - Board approved purchase of 15,05,100 shares for Rs16.09 crore; stake increases to 51% (Green Woods becomes subsidiary).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1be06713-dad4-4199-8a51-4dfb52d020df.pdf) |
| 9 Feb - Board approved IHCL reclassification to public after 25.52% stake sale; approval dated 09.02.2026. | [Reclassification Of Promoter Category As Public Category 9 Feb - Board approved IHCL reclassification to public after 25.52% stake sale; approval dated 09.02.2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/77995d2d-f37c-45a6-a8e6-9eebf5af3f9e.pdf) |
| 8 Jul - Armour Security (India) Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) … | [Disclosure under SEBI Takeover Regulations 8 Jul - Armour Security (India) Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) …](https://nsearchives.nseindia.com/corporate/team_bbodade_03072026163750_ARMOUR.pdf) |
| 3 April 2026 - Text contains only signatures and timestamps; no substantive announcement. | [Disclosure of material issue 3 April 2026 - Text contains only signatures and timestamps; no substantive announcement.](https://nsearchives.nseindia.com/corporate/ARMOUR_03042026120939_Reg_30_GST_Order-1.pdf) |
| 27 Jun - Exchange has sought clarification from Armour Security (India) Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. … | [Clarification - Financial Results 27 Jun - Exchange has sought clarification from Armour Security (India) Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. …](https://www.nseindia.com/companies-listing/corporate-filings-announcements?symbol=ARMOUR&tabIndex=sme) |
| 23 Feb - Telangana VAT demand: balance Rs.667,849 (Taj Krishna) and Rs.244,146 (Taj Deccan); order dated 23-Feb-2026. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 23 Feb - Telangana VAT demand: balance Rs.667,849 (Taj Krishna) and Rs.244,146 (Taj Deccan); order dated 23-Feb-2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/640e483f-00b3-4547-a670-b254c8c19f0e.pdf) |
| 16 Jul - Submitted Regulation 74(5) certificate for quarter ended June 30, 2026; no physical share certificates received. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 16 Jul - Submitted Regulation 74(5) certificate for quarter ended June 30, 2026; no physical share certificates received.](https://nsearchives.nseindia.com/corporate/ARMOUR_16072026224708_Covering_76_June_30_armour-1.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2012 from nse](https://archives.nseindia.com/annual_reports/AR_TAJGVK_2011_2012_27062012114547.zip) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c3de8dcb-67f5-42f5-9a2a-5fee4427ef51.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ce363c3d-1a5b-4560-b664-c38213f2b58e.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a1dce6f5-6870-44a1-aa07-54125c55e714.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/532390/74544532390.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/532390/70242532390.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/532390/65347532390.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/532390/5323900319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/532390/5323900318.pdf) |
| from bse | [Financial Year 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/532390/5323900317.pdf) |

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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 2026-09-13T18:57:12.785Z.