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Armour Security (India)

ARMOUR NSE
₹27.05

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MCP
Close 3 Nov 2026 ₹27.05 −16.30 −37.6% since 22 Jan 2026
Start ₹43.35

Key Fundamentals

SMECommercial ServicesServices

Price-based figures at the close · TTM

ROCE
22.80%
Debt to Equity
0.02
EPS (TTM)
—
Book Value
₹27.72
Market Cap
—
P/E (TTM)
—
P/B
0.98
ROE
16.30%
Dividend Yield
0.00%
EBITDA
—
52W High
₹45.60
52W Low
₹15.80

Peer Comparison

Services › Construction › Civil Construction › Diversified Commercial Services

Armour Security peer comparison
International Gemological Institute
₹402.0028.49₹17,550 Cr9.920.63%55.80%69.20%₹1,363 Cr₹611 Cr
WeWork India Management
₹680.50111.74₹9,206 Cr27.760.00%27.90%12.60%₹2,578 Cr₹82 Cr
Nesco
₹1,040.4017.60₹7,372 Cr2.330.68%14.80%18.50%₹951 Cr₹417 Cr
Indiabulls
₹31.2816.82₹7,118 Cr2.050.00%23.10%16.20%₹1,101 Cr₹488 Cr
Nirlon
₹633.5015.99₹5,724 Cr12.184.72%83.80%30.80%₹674 Cr₹357 Cr
Leap India
₹116.4522.39₹5,030 Cr3.400.00%9.82%9.21%₹821 Cr₹75 Cr
Armour Security (this company)
₹27.05—₹46 Cr0.980.00%16.30%22.80%——
Median 7 companies₹402.0020.00₹7,118 Cr3.400.00%23.10%18.50%₹1,026 Cr₹387 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 1.00 times its book value

Weaknesses

2
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Working capital days have increased from 45.1 days to 93.0 days

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish1810
OscillatorsBullish162
Moving AveragesStrong Bullish028

Key readings

RSI (14)
62.38
Neutral
MACD (12,26,9)
1.35
Bearish
SMA (50)
20.43
Bullish
SMA (200)
—
Neutral

As of

Growth Rate

From the financial statements below. 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025.

Revenue

Revenue growth by window
3Y+17.73%
1Y+32.02%

Net profit

Net profit growth by window
3Y+32.94%
1Y+33.75%

Operating cash flow

Operating cash flow growth by window
3YTurned negative
1YTurned negative

Operating margin· change in pp

Operating margin growth by window
3Y+6.38 pp
1Y+3.26 pp

Trailing twelve months: Results are not reported for each of the last eight quarters, so there is no trailing-twelve-month figure.

Revenue by year

Revenue by year, ₹ crore
Mar 2022₹26.81 Cr
Mar 2023₹28.85 Cr
Mar 2024₹32.93 Cr
Mar 2025₹35.66 Cr
Mar 2026₹47.08 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2022₹0.29 Cr
Mar 2023₹2.26 Cr
Mar 2024₹2.62 Cr
Mar 2025₹3.97 Cr
Mar 2026₹5.31 Cr

Half-yearly Results

₹ Cr
ARMOUR half-yearly results, ₹ crore
Particulars Sep 2024Mar 2025Sep 2025Mar 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
PBT
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 (₹)
2.04
1.22
2.37
1.43

Profit & Loss

₹ Cr
ARMOUR profit and loss, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
PBT
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 (₹)
—
—
2.14
3.25
3.15
Div. Payout %
0%
0%
0%
0%
0%

Balance Sheet

₹ Cr
ARMOUR balance sheet, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

₹ Cr
ARMOUR cash flow, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
0.45
0.6
0.23
−0.82
Investing
—
−0.55
−2.01
−4.01
−11.04
Financing
—
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/EBITDA
—
26
30
29
20

Ratios

ARMOUR financial ratios, annual
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
86.45
117
85.9
83.11
109
Cash Conversion Cycle
86.45
117
85.9
83.11
109
Working Capital Days
−33.9
−7.08
10.64
31.73
93.03
ROCE %
—
98.41%
35.63%
29%
22.83%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Armour Security insights

28 extracted metrics across FY22–FY26.

Shareholding Pattern

As of Sep 2026

  • Promoters 70.12%
  • Public 22.69%
  • Others 7.18%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Armour Security (India)

What does Armour Security (India) Ltd do?
Incorporated in August 1999, Armour Security India specializes in providing a range of security services including armed guarding, manpower & consultancy services.
Where is Armour Security (India) Ltd (ARMOUR) listed?
Armour Security (India) Ltd trades as ARMOUR on the NSE.
Which sector does Armour Security (India) Ltd belong to?
Armour Security (India) Ltd is classified under the Construction sector, in the Civil Construction industry.
What is the 52-week high and low of Armour Security (India) Ltd?
Over the last 52 weeks Armour Security (India) Ltd has traded between ₹15.8 and ₹45.6 as of 3 Nov 2026.
What is the Return on Equity (ROE) of Armour Security (India) Ltd?
Armour Security (India) Ltd reported a return on equity of 16.30%. Its debt-to-equity ratio is 0.02.

Company Information

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

Website armoursecurities.com
Listed 22 Jan 2026
Face Value ₹10

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