🛗 Aaron Industries – Elevator Parts Banane Wale Stock Ko Full Lift Mil Gaya?
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At a Glance
Aaron Industries, the first listed elevator parts company on NSE SME, has seen its profits compound at 44% CAGR over the last 5 years. With 21% ROE, expanding margins, and new Unit-3 now operational, the company is vertically integrating itself. But with a PE of 47x, are valuations running ahead of fundamentals?
1. 🎯 Introduction – Why’s Everyone Pressing the Elevator Button?
Stock up 41% in 1 year, 74% CAGR over 5 years 📈
EPS has grown from ₹1.9 (FY21) → ₹7.87 (FY25)
Margins hit all-time high of 19% in FY25
New Unit-3 in Surat operational as of April 2025
73% promoter holding, no pledges
PE: 47x 🤨
Book Value: ₹41 → stock trades at 9x P/B
Sounds exciting. But does the elevator go all the way to the top, or is it stopping mid-floor?
2. ⚙️ WTF Do They Even Do?
Aaron is a Bharat-made elevator ecosystem enabler.
🛗 Makes elevator cabins, doors, rails, operating panels
🧱 Stainless steel polishing and press plate manufacturing
🏗 Clients include infra contractors, builders, interior fit-out firms
🌐 Distribution via direct B2B and channel partners
🏭 Three manufacturing units – all in Gujarat, now with added capacity
Imagine a company that’s like “Anchor + Otis Jr.” for elevators. That’s Aaron.
3. 📊 Financials – Is This Elevator Rising Smoothly?
