Arfin India Limited

ARFIN.BO

Aluminum · Basic Materials

Price

₹87.90

+1.27 (+1.47%)

Market Cap

₹14.83B

Exchange

Bombay Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+5.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 158.9M (2022) → 167.9M (2026)

Arfin India Limited is an Indian manufacturer of aluminum products, primarily producing aluminum alloy ingots, wire rods, and master alloys. The company sells to industries like automotive, electrical, and construction, which use aluminum components in vehicles, wiring, and building materials. It operates within India's growing aluminum processing sector and is one of the smaller but established secondary aluminum producers in the country.

Arfin makes money by buying aluminum scrap and raw materials, processing them into finished or semi-finished aluminum products, and selling those to industrial customers. The company operates mainly in India, with a market capitalization around $15 billion, and its competitive edge comes partly from its recycling-based production model, which keeps input costs lower than primary aluminum smelters. The key growth driver is India's expanding automotive and infrastructure sectors, which are increasing demand for aluminum components, though rising scrap prices and competition from larger aluminum producers remain ongoing risks.

Winston Score History

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

15.3%

Thin — 15.3% gross margin

Operating Margin

7.8%

Modest — 7.8% operating margin

ROCE

5.0%

Weak — 5.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+0.1%

Nearly flat sales (+0.1% YoY)

EPS YoY

+68.5%

Earnings growing fast (+68.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

Weak — only 0% of profit becomes cash

FCF Margin

0.0%

Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

0.76

Moderate — manageable debt (0.76)

Interest Cover

2.22x

Tight — interest eats into profit (2.2x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

96.6x

Expensive — P/E 96.6

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend Yield

0.12%

Small dividend — 0.12% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

N/A

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial