Airan Ltd.

AIRANNSEInformation TechnologyIT - SoftwareSmall Cap

₹16.55

▲ 1.72%

loading…

Composite

Airan is engaged in business of Information Technology (IT) and Information Technology enabled services including Banking transaction processing services and Document management services for telecommunication companies, internet services provider, payment banks etc. AIRAN offers a comprehensive suite of solutions through a combination of leading edge technology, distinctive domain knowledge, professional management and a strong presence across the country.

www.airanlimited.comSector: Information TechnologyIndustry: IT - Software

Q-DITS fundamental score

56Composite

Growth

Profitability

Valuation

Quality

Solvency

Earnings

Key metrics

MCap

₹209 Cr

TTM PE

17.2x

Industry PE

18.8x

TTM EPS

₹0.97

Book Value

₹12.48

Face Value

₹2

Div Yield

PEG

3.03x

2.3x

ROE

13.9%

ROCE

17.4%

EBITDA mgn

27.5%

D/E

0.02

Int. Cover

239.1x

Curr. Ratio

EPS

₹1.48

Growth — CAGR across horizons

Metric	1Y	3Y	5Y	10Y
Net Sales	5.4%	4.9%	11.1%	—
EBITDA	-20.8%	-4.8%	6.6%	—
Net Profit	-33.8%	5.7%	15.9%	—

Score snapshot

Piotroski

6/9

Altman Z

2.14

Quality

74.8

Growth

Valuation

Earn. Qual

11.5

PEAD

SURGE

Loading price data…

Loading delivery data…

Revenue, profitability & returns

Revenue & Net Profit (₹ Cr)

RevenueNet Profit

Margins (%)

EBITDA%PAT%

Return ratios (%)

ROEROCEROA

Annual financials — last 9 years

Tap a row to expand the full chart

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
›RevenueCr	29	37	49	58	66	87	97	106	107
›EBITDACr	7	11	12	13	13	18	20	23	29
›EBITDA margin	22.7%	28.2%	24.6%	22.4%	19.3%	20.4%	20.1%	21.5%	27.5%
›Net profitCr	2	5	4	7	6	10	11	13	19
›PAT margin	8%	13.6%	8.5%	11.7%	8.9%	11.5%	11%	12.2%	17.6%
›EPS₹	₹0.18	₹0.41	₹0.33	₹0.54	₹0.46	₹0.77	₹0.83	₹1	₹1.48
›Revenue growth	0%	29.2%	30.1%	18.9%	14.9%	31.7%	11.6%	8.3%	0.9%
›PAT growth	0%	120.3%	-18.2%	62.3%	-12.5%	70.4%	6.9%	20.2%	45.6%
›ROE	6.4%	13%	7.1%	8.6%	7%	10.5%	9.9%	10.8%	13.9%
›ROCE	8.6%	15.7%	9.4%	9.8%	8.9%	12.3%	12.7%	14%	17.4%
›ROA	4.5%	6.7%	4.2%	6.7%	5.3%	8%	7.6%	8.4%	11.1%
›P/E	3.7x	5.8x	46x	17.6x	33.8x	23.5x	16.8x	22.8x	18.1x
›P/B	2.4x	7x	5.1x	1.4x	2.2x	2.2x	1.5x	2.3x	2.3x
›D/E	0.4	0.4	0.1	0.1	0.1	0.1	0	0	0
›Current ratio	14.4x	3.4x	5.6x	4.7x	2.5x	5.1x	4.3x	4.7x	5x
›Interest cover	3.9x	5.8x	7.3x	12x	11.1x	24.8x	23x	51.1x	239.1x

Quarterly results

Tap a row to expand the full chart

Metric	2023-12	2024-03	2024-06	2024-09	2024-12	2025-03	2025-06	2025-09	2025-12	2026-03
›RevenueCr	25	30	26	26	27	27	26	26	29	31
›Rev growth YoY	-4.3%	15.7%	9.6%	-1.5%	6.1%	-8.1%	-1.8%	0.2%	9.3%	13.4%
›EBITDACr	4	8	5	3	6	5	4	3	3	5
›EBITDA margin	17.7%	26.5%	19.7%	10.5%	20.9%	16.8%	15.2%	9.9%	9.2%	16.6%
›Net profitCr	3	5	22	-2	2	-3	3	1	8	0
›PAT growth YoY	-13.2%	67.6%	1,092.2%	-149.5%	-37.3%	-171.8%	-85.2%	149.9%	292.2%	113.7%
›EPS₹	₹0.24	₹0.37	₹1.74	₹-0.13	₹0.15	₹-0.28	₹0.25	₹0.06	₹0.62	₹0.04

Balance sheet — last 10 years (₹ Cr)

Tap a row to expand the full chart

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
›Shareholders' equityCr	36	80	75	82	88	104	114	126	144	156
›ReservesCr	23	68	63	57	63	79	89	101	119	131
›Total borrowingsCr	0	0	0	0	0	0	0	0	0	0
›InvestmentsCr	1	18	6	1	1	11	8	8	15	0
›Total assetsCr	48	89	81	88	90	114	125	136	156	193
›Current assetsCr	34	35	41	47	52	72	70	75	82	97
›Current liabilitiesCr	2	11	7	10	21	14	16	16	17	18
›Trade payablesCr	1	0	0	1	4	3	3	3	3	3
›Gross blockCr	25	71	75	81	93	96	116	125	130	74

Cash flow statement (₹ Cr)

Tap a row to expand the full chart

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
›Operating CF (CFO)Cr	-10	2	6	-0	11	11	22	4	21	4
›Investing CF (CFI)Cr	1	-14	1	1	-6	-7	-15	-10	-3	-19
›Financing CF (CFF)Cr	18	1	-6	-1	-6	8	-1	-4	1	-1
›Net cash changeCr	10	-11	2	-0	-1	12	6	-11	20	-16
›Closing cashCr	12	1	3	2	2	13	19	8	28	11

Cash flow components

CFO · CFI · CFF (₹ Cr)

CFOCFICFF

Q-DITS scorecard

Composite score

Quality (25%)74.8

Growth (25%)45

Valuation (20%)62

Piotroski (15%)67

Earnings Quality (10%)11.5

Momentum (5%)—

Weighted blend, rescaled to the components available for this stock.

Piotroski F-Score

6/9

✓ROA positiveROA 11.13%

✓CFO positiveCFO ₹3.69 Cr

✓ROA improving8.43% → 11.13%

✗CFO > PAT (low accruals)CFO 3.69 vs PAT 18.77

✗Leverage decreasedD/E 0.01 → 0.02

✓Liquidity improvedCR 4.73 → 5.0

✓No share dilutionEPS 1.0 → 1.48

✓Margin improvedEBITDA mgn 21.49% → 27.46%

✗Asset turnover upAsset TO 0.69 → 0.63

Altman Z-Scoregrey

2.14

0.407

0.68

0.123

0.809

0.552

>2.9 safe · 1.23–2.9 grey · <1.23 distress

Quality

74.8/100

ROE

13.9%

ROCE

17.4%

Margin

17.6%

Debt

Int. cover

239.1x

Growth

45/100

Revenue 3Y

4.9%

Profit 3Y

5.7%

EPS

47.2%

Valuation

62/100

18.1x

2.3x

EV/EBITDA

10.6x

vs universe median: PE 25.6x · PB 2.81x · EV 13.41x

Earnings quality

11.5/100

CFO₹4 Cr

PAT₹19 Cr

Accrual ratio0.078

CFO/PAT0.2x

PEAD · SURGE

0 / +1

Revenue SUE1.44

EPS SUE-0.54

Latest quarter2026-03

Rev growth YoY13.4%

Shareholding pattern

Promoter72.2%

FII/FPI0%

DII0%

Public27.8%

Tap a row to expand the full chart

Metric	2024-03	2024-06	2024-09	2024-12	2025-03	2025-06	2025-09	2025-12	2026-03
›Promoter	72.4%	72.4%	72.3%	72.3%	72.3%	72.3%	72.2%	72.2%	72.2%
›FII / FPI	0%	0%	0%	0.1%	0%	0%	0%	0.1%	0%
›DII	0%	0%	0%	-0%	0%	0%	0%	0%	0%
›Public / Retail	27.6%	27.6%	27.7%	27.7%	27.7%	27.7%	27.8%	27.8%	27.8%
›Promoter pledge	0%	0%	0%	0%	0%	0%	0%	0%	0%

Documents & filings

Loading documents…

Peer comparison

Company	MCap (Cr)	Revenue	PAT	PE	PB	ROE%	ROCE%	D/E
Tata Consultancy Services Ltd.	7,69,350	2,67,021	49,454	15.6x	7.2x	49.1	66.2	0
Infosys Ltd.	4,26,762	1,78,650	29,474	14.5x	4.7x	31.7	42.8	0
HCL Technologies Ltd.	3,06,590	1,30,144	16,652	18.4x	4.1x	25.4	33.5	0.03
Wipro Ltd.	1,89,694	92,624	13,240	14.4x	2.2x	15.7	18.4	0.19
Tech Mahindra Ltd.	1,38,267	56,815	4,807	28.7x	4.7x	15.9	20.4	0.02
LTM Ltd.	1,13,622	42,308	4,983	22.6x	4.8x	21.5	30.3	0
Oracle Financial Services Software Ltd.	84,023	7,672	2,639	31.8x	10.7x	29.9	40.8	0