Aaron Industries Ltd, incorporated in 2013, is a prominent player in the manufacturing of elevators and elevator parts, as well as stainless steel press plates. It holds the distinction of being India's first public limited company in the elevator industry listed on the NSE SME platform. Founded by Mr. Amar Chinubhai Doshi, the company emerged as a distinct entity for the elevator sector, stemming from the MOTI Group's legacy of over 50 years in providing switchgear products. Aaron Industries operates through two core business segments: Elevator Manufacturing and the Stainless Steel Polishing business.
The company was initially incorporated as a Private Limited Company on October 23, 2013, and later transitioned to a Public Limited Company on January 29, 2018. Aaron Industries is known for providing contemporary elevator cabins for both residential and commercial properties, focusing on a balance of aesthetics and functionality.
As of July 4, 2025, Aaron Industries Ltd commands a market capitalization of ₹410.08 Crore. It is classified as a Small Cap company according to Value Research. The company has demonstrated a consistent growth trajectory across its key financial metrics.
- Net Sales: ₹24.11 Crore (up 26.39% Year-on-Year)
- Net Profit: ₹2.75 Crore (up 18.41% Year-on-Year)
- EBITDA: ₹5.10 Crore (up 37.1% Year-on-Year)
- Earnings Per Share (EPS): ₹2.64
- Net Profit: ₹8.24 Crore (up 30.17% Year-on-Year from ₹6.33 Crore in FY24)
- Total Sales: ₹77.93 Crore (up 23.25% Year-on-Year from ₹63.23 Crore in FY24)
The company exhibits healthy financial characteristics with an annual revenue growth of 13% and a pre-tax margin of 13%. It also boasts an exceptional Return on Equity (ROE) of 17%, although it carries a debt-to-equity ratio of 60%.
- Market Capitalization: ₹410.08 Crore (as of July 2025)
- Promoter Holding: 73.06% (as of December 2024)
- Price-to-Earnings (P/E) Ratio: 49.77
- Price-to-Book (P/B) Ratio: 11.44
- Dividend Yield: 0.31%
- 52-Week High: ₹430
- 52-Week Low: ₹251.05
- Recent Returns: 31.18% (6 months), 39.98% (1 year), 52.42% (3 years)
Aaron Industries' business is structured around two primary segments: elevator manufacturing and stainless steel polishing. In its elevator division, the company caters to both residential and commercial sectors, offering a range of contemporary cabin designs. The stainless steel press plate segment further diversifies its manufacturing output. While specific production capacities for each segment are not detailed, the company's growth in sales indicates robust operational activity.
The company's product portfolio is segmented into:
- Elevator Manufacturing: Contemporary cabins for residential and commercial properties.
- Stainless Steel Press Plates: A key component and finished product for various applications.
Aaron Industries leverages its position as India's first public elevator company listed on the NSE SME platform to enhance its brand visibility and access capital markets. Its market strategy focuses on delivering quality and customer satisfaction, aiming to capitalize on the increasing demand for elevators driven by India's infrastructure development.
Aaron Industries is well-positioned to benefit from the ongoing trends in India's infrastructure development and urbanization. The significant increase in demand for elevators in residential and commercial buildings, coupled with the construction of high-rise structures, presents substantial growth opportunities.
The company's strategic advantages include its early mover status in the public elevator segment on NSE SME, which aids in capital accessibility and brand recognition. With a focus on expanding its market reach and enhancing its product offerings, Aaron Industries aims to sustain its growth momentum in the expanding Indian elevator market.
Aaron Industries Ltd presents a compelling investment case within India's growing elevator manufacturing sector, supported by its consistent financial performance, established market presence, and favorable industry dynamics. The company's dedication to quality manufacturing and customer-centric approach positions it strongly for continued expansion.
