---
title: "Airfloa Rail Technology Ltd (544516) — Share Price, Financials & Analysis"
symbol: "544516"
company: "Airfloa Rail Technology Ltd"
canonical: "https://tapetide.com/stocks/544516"
isin: "INE0XBS01012"
nse_symbol: "AIRFLOARAILTECHNOLOGYLTD"
bse_code: "544516"
sector: "Capital Goods"
industry: "Industrial Products"
market_cap_cr: 1264.54
generated_at: "2026-09-13T18:51:10.625Z"
---

# Airfloa Rail Technology Ltd (544516)

Canonical page: https://tapetide.com/stocks/544516

## Company

- **NSE Symbol:** AIRFLOARAILTECHNOLOGYLTD
- **BSE Code:** 544516
- **ISIN:** INE0XBS01012
- **Sector:** Capital Goods
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2025-09-18
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** airflow.co.in

## About

Incorporated in December 1998, Airfloa Rail Technology Limited manufactures components for Indian Railways' rolling stock through production units like the Integral Coach Factory (ICF) and other coach factories.[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:45:48.136688Z.

- **Market Cap:** ₹1264.54 Cr
- **Classification:** SME
- **P/E (reported):** 33.1
- **Book Value:** ₹99.77
- **Price to Book:** 5.42
- **Dividend Yield:** 0%
- **ROE:** 22.93%
- **ROCE:** 40.64%
- **Debt to Equity:** 0.29
- **Revenue (yearly):** ₹319.6 Cr
- **Net Income:** ₹39.49 Cr
- **EBITDA:** ₹64.25 Cr
- **52-Week High:** ₹592.9
- **52-Week Low:** ₹246
- **RSI (14):** 75.12

## Tapetide Score

- **Score:** 45 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Rising
- **Percentile:** 28.3 (of 4473 scored stocks)
- **Confidence:** 86%
- **Data coverage:** 71%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 58.3 | 9% |
| growth | 97.18 | 9% |
| momentum | 92.21 | 12% |
| ownership | 18.93 | 24% |
| quality | 36.19 | 22% |
| valuation | 30.62 | 24% |

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

## Key Insights

### Strengths

- Company has a good return on equity (ROE) track record: 3 Years ROE 26.0%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 244 days.
- Working capital days have increased from 116 days to 186 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | — | -670.51% | -617.44% |
| ebitda margin growth | -20.39% | — | — |
| net income growth | 54.86% | 197% | — |
| revenue growth | 65.85% | 50% | — |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Sales | 85 | 107 | 91 | 229 |
| Expenses | 63 | 81 | 69 | 187 |
| Operating Profit | 22 | 26 | 22 | 42 |
| OPM % | 26 | 24 | 24 | 18 |
| Other Income | 0 | 0 | 0 | 0 |
| Interest | 5 | 6 | 4 | 4 |
| Depreciation | 1 | 1 | 2 | 2 |
| Profit before tax | 16 | 19 | 16 | 36 |
| Tax % | 39 | 16 | 27 | 25 |
| Net Profit | 10 | 16 | 12 | 27 |
| EPS in Rs | 5.86 | 9.19 | 5.04 | 11.29 |

### Profit & Loss

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

| Item | Mar 2005 | Mar 2006 | Mar 2007 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1 | 1 | 4 | 137 | 95 | 119 | 192 | 320 |
| Expenses | 1 | 1 | 4 | 120 | 79 | 87 | 144 | 255 |
| Operating Profit | 0 | 0 | 0 | 17 | 17 | 32 | 48 | 64 |
| OPM % | 6 | 5 | 4.2 | 12 | 17 | 27 | 25 | 20 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 4 | 0 | 0 |
| Interest | 0 | 0 | 0 | 9 | 11 | 12 | 11 | 9 |
| Depreciation | 0 | 0 | 0 | 3 | 3 | 3 | 3 | 3 |
| Profit before tax | 0 | 0 | 0 | 5 | 2 | 21 | 35 | 53 |
| Tax % | 33 | 50 | 67 | 56 | 36 | 31 | 27 | 26 |
| Net Profit | 0 | 0 | 0 | 2 | 1 | 14 | 26 | 39 |
| EPS in Rs | 8 | 2 | 0.8 | 4.38 | 2.98 | 28.49 | 14.64 | 16.33 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2005 | Mar 2006 | Mar 2007 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.05 | 0.05 | 0.25 | 5 | 5 | 5 | 17 | 24 |
| Reserves | 0 | 0 | 0 | 37 | 37 | 51 | 91 | 213 |
| Borrowings | 0 | 0 | 1 | 71 | 60 | 64 | 60 | 68 |
| Other Liabilities | 0 | 0 | 1 | 49 | 62 | 82 | 87 | 96 |
| Total Liabilities | 1 | 1 | 2 | 162 | 164 | 202 | 256 | 401 |
| Fixed Assets | 0 | 0 | 0 | 37 | 36 | 34 | 37 | 49 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 |
| Other Assets | 1 | 0 | 2 | 125 | 128 | 168 | 219 | 346 |
| Total Assets | 1 | 1 | 2 | 162 | 164 | 202 | 256 | 401 |

### Cash Flow

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

| Item | Mar 2005 | Mar 2006 | Mar 2007 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | — | — | — | 10 | 3 | -4 | -57 |
| Cash from Investing Activity | — | — | — | — | 3 | 3 | -6 | -22 |
| Cash from Financing Activity | — | — | — | — | -21 | -7 | 13 | 88 |
| Net Cash Flow | — | — | — | — | -8 | -1 | 2 | 9 |
| Free Cash Flow | — | — | — | — | 13 | 6 | -11 | -75 |
| CFO/OP | — | — | — | — | 65 | 12 | 0 | -73 |

### Ratios

| Item | Mar 2005 | Mar 2006 | Mar 2007 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 144 | 111 | 122 | 178 | 187 | 311 | 242 | 244 |
| Inventory Days | 28 | 61 | 23 | 181 | 400 | 258 | 202 | 125 |
| Days Payable | 81 | 79 | 92 | 186 | 414 | 337 | 207 | 105 |
| Cash Conversion Cycle | 92 | 93 | 52 | 172 | 173 | 232 | 237 | 264 |
| Working Capital Days | 96 | 73 | 66 | 16 | -19 | 47 | 114 | 186 |
| ROCE % | — | 10 | 12 | — | 13 | 29 | 32 | 26 |

## Shareholding Pattern

### Quarterly

| Category | Jun 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Promoters | 54.2% | 54.2% | 54.2% |
| FIIs | 4.21% | 2.77% | 0.09% |
| DIIs | 8.06% | 1.23% | 0.98% |
| Government | 0% | 0% | 0% |
| Public | 28.46% | 35.44% | 34.56% |
| Others | 5.07% | 6.35% | 10.16% |
| No. of Shareholders | 1602 | 1602 | 2129 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 14 / 4 / 1

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 508.71 | Buy |
| EMA (10) | 511.97 | Buy |
| SMA (20) | 461.32 | Buy |
| EMA (20) | 470.41 | Buy |
| SMA (50) | 378.15 | Buy |
| EMA (50) | 406.59 | Buy |
| SMA (100) | 351.31 | Buy |
| EMA (100) | 369.74 | Buy |
| SMA (200) | 328.37 | Buy |
| EMA (200) | 350.2 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 77.42 | Sell |
| MACD (12,26,9) | 50.85 | Buy |
| Stochastic (14,3,3) | 79.32 | Neutral |
| ADX (14) | 60.27 | Buy |
| Williams %R (14) | -30.18 | Neutral |
| ATR (14) | 30.21 | High Volatility |
| ROC (12) | 20.58 | Buy |
| Stoch RSI (14) | 1.77 | Buy |
| UO (7,14,28) | 56.78 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Apr - FY26 topline expected above ₹315 crore; order book ₹500 crore, pipeline ₹236 crore. | [Corporate Growth & Prformance 9 Apr - FY26 topline expected above ₹315 crore; order book ₹500 crore, pipeline ₹236 crore.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/42a41e58-02eb-4a84-9b23-3b4d78606eac.pdf) |
| 7 May - Airfloa Rail Technology wins ₹92.08 lakh order from Integral Coach Factory for 9 stainless steel nose cone sets. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 7 May - Airfloa Rail Technology wins ₹92.08 lakh order from Integral Coach Factory for 9 stainless steel nose cone sets.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/d6f76379-1457-476e-a4c0-de3663650802.pdf) |
| 7 Mar - Airfloa Rail to meet analysts/investors in Mumbai on March 10, 2026, 9:00–18:00, physical meeting only. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 7 Mar - Airfloa Rail to meet analysts/investors in Mumbai on March 10, 2026, 9:00–18:00, physical meeting only.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7c73813d-7c1a-4ec8-8dbc-7e1849436883.pdf) |
| 6 Mar - Management participated in virtual investor meeting on 06-Mar-2026 at Arihant Bharat Connect; no UPSI. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 6 Mar - Management participated in virtual investor meeting on 06-Mar-2026 at Arihant Bharat Connect; no UPSI.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/22d63ab1-5837-442f-a28a-771cd556e523.pdf) |
| 3 Mar - Issued corporate guarantee up to USD 4,100,000 for US subsidiary's HDFC Bank credit facilities on March 3, 2026. | [Announcement Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 3 Mar - Issued corporate guarantee up to USD 4,100,000 for US subsidiary's HDFC Bank credit facilities on March 3, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1741f873-ec1a-4a94-8a15-90fd179f3363.pdf) |
| 3 Mar - Corporate guarantee up to USD1,500,000 to HDFC Bank for Havix (Aavis), dated March 3, 2026; max 10-year. | [Announcement Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 3 Mar - Corporate guarantee up to USD1,500,000 to HDFC Bank for Havix (Aavis), dated March 3, 2026; max 10-year.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e8a6d0e5-e4f6-4cac-9b89-a2f3f5ea19ad.pdf) |
| 25 Mar - Trading window closed Apr 1, 2026 until 48 hours after results for year/half-year ended Mar 31, 2026. | [Closure of Trading Window 25 Mar - Trading window closed Apr 1, 2026 until 48 hours after results for year/half-year ended Mar 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8d89a134-a7f5-4937-9a72-d1bcc23e48e3.pdf) |
| 24 Mar - Joint MD's NDTV Profit interview on March 24, 2026; recording timestamp 5:36:25–5:51:34. | [Media Interaction With NDTV Profit On 24.03.2026 24 Mar - Joint MD's NDTV Profit interview on March 24, 2026; recording timestamp 5:36:25–5:51:34.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/47c7a269-b65b-4e19-894a-7e785c8e3e74.pdf) |
| 20 Mar - Received ₹22.91 Crore order from BEML for Chennai Metro lighting; supply Nov 2026 start, 17-month completion. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 20 Mar - Received ₹22.91 Crore order from BEML for Chennai Metro lighting; supply Nov 2026 start, 17-month completion.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/35252284-c205-4c22-8ada-8270b3b3fde7.pdf) |
| 2 Mar - Senores Pharmaceuticals Limited has informed regarding Analyst/Institutional Investor meet scheduled to be held on March 06, 2026. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2 Mar - Senores Pharmaceuticals Limited has informed regarding Analyst/Institutional Investor meet scheduled to be held on March 06, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b32be4bc-a269-4340-a5a6-554a642ecec7.pdf) |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-05 | [Receiving Letter Of Acceptence (LOA) For Purcahse / Work Order Value Of Rs. 31.08 Crores](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b31a9f7e-42fc-4c1a-b020-a74eb4546972.pdf) |
| 2026-09-04 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f7f6353c-1893-4931-941b-d19efe9b4a73.pdf) |
| 2026-09-04 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c3b2cd02-7804-4c00-97c1-d3b8743056f3.pdf) |
| 2026-09-04 | [Notice Of 27 Annual General Meeting Of Company](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f0247de0-a183-494f-b07b-12d2248ae23e.pdf) |
| 2026-09-03 | [News Paper Advertisement Regarding 27Th Annual General Meeting Of The Company.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=18e1fbe8-9ecc-447a-90f9-7a915b8f053c.pdf) |
| 2026-09-01 | [Announcement under Regulation 30 (LODR)-Credit Rating](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d1ee3fdd-be5d-494d-81e0-4f0090b053b5.pdf) |
| 2026-08-27 | [Board Meeting Outcome for Outcome Of Board Meeting Held On 27Th August 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d8ac922d-a814-4358-bdd7-1561bfdaabe0.pdf) |
| 2026-08-26 | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=67081a13-2d15-4085-a770-9995bfb33609.pdf) |
| 2026-08-24 | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9bcb97c0-8dc1-4788-acfa-7a449f8a0b42.pdf) |
| 2026-08-21 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e49209e5-6d14-44d3-a264-3bec284ba37e.pdf) |

### Investor Presentations

| Date | Document |
| --- | --- |
| 2026-06-12 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bad3d86a-efd1-4795-b634-f09d2a08a8da.pdf) |
| 2026-06-02 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ed807cc1-9e23-4466-b5cc-868a3a6e3058.pdf) |

### Earnings Call Transcripts

| Date | Document |
| --- | --- |
| 2026-06-08 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0372e0de-977b-43fa-a94c-8e910b3e9955.pdf) |

### Earnings Call Recordings

| Date | Document |
| --- | --- |
| 2026-06-04 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=17f9544f-4287-4174-a73d-5cc951e4811e.pdf) |
| 2026-06-03 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=33dbccab-2763-489e-b2a2-a9eb67451a6a.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5500f47b-7c6e-414a-b9da-195d10803cb9.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5500f47b-7c6e-414a-b9da-195d10803cb9.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1d6b5c6b-9d5b-417e-ac82-3aec59682705.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/46eafcf0-b828-46cb-975a-3c3bf038e3d2.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3da94862-93c4-4ac7-9508-a7e51a4203b1.pdf) |
| Jun 2026 | [Concall - Jun 2026](https://www.bseindia.com/xml-data/corpfiling/AttachLive/ed807cc1-9e23-4466-b5cc-868a3a6e3058.pdf) |
| Jul 2025 | [Concall - Jul 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c1ad0fa0-3887-47a6-a7ec-cd78979980ab.pdf) |
| Jan 2026 | [Concall - Jan 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fb349c3f-3a5a-4bfc-b22b-b952b3cda929.pdf) |
| Jan 2025 | [Concall - Jan 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4cf3f9dc-057c-43d5-8211-433755b6b5e1.pdf) |
| Dec 2025 | [Concall - Dec 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6a2c9f77-55fb-4efe-b3f1-530983767dc2.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-05-30 | [Audited Result Of The Company For The Half Year And Year Ended 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c6f8b4e6-c4fe-4241-8495-cc65e0bc5fd6.pdf) |
| 2025-11-13 | [30-11-2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f51ba69b-0f62-472b-9023-68e2cb900952.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2e6620e4-47a1-40a8-b25c-e2ee8d2fac95.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 2026-09-13T18:51:10.625Z.