Aartech Solonics

NSE: AARTECH · Heavy Electrical Equipment

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52W Range₹34 – ₹65

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Snapshot

Unlock Aartech Solonics's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Aartech Solonics is an R&D-focused manufacturer specialising in advanced energy applications, including Bus Transfer Systems, Control Relay Panels, and Ultracapacitors. The company serves a diverse client base across 15 industries and operates in 20 countries.

Business Model

The company generates revenue through a balanced mix of product sales and project-based engagements within the heavy electrical equipment sector. It leverages its focus on innovation and sustainability to provide specialised electrical machinery and apparatus.

Management Commentary

Management emphasises a commitment to innovation, sustainability, and the modernisation of defence infrastructure. The company focuses on R&D-driven product development to maintain its competitive edge in the energy sector.

Growth Outlook

Growth is expected to be driven by continued investment in R&D and the expansion of its footprint in defence modernisation projects. The company aims to leverage its technical expertise to capture opportunities across its global market presence.

Key Risks

  • Technological Obsolescence. Rapid advancements in energy technology may render existing product lines less competitive if R&D efforts do not keep pace.
  • Project Execution Risk. As a provider of project-based solutions, the company faces risks related to cost overruns, delays, and complex implementation requirements.
  • Geopolitical and Regulatory Exposure. Operating across 20 countries exposes the company to varying international trade regulations, currency fluctuations, and geopolitical instability.
  • Supply Chain Dependency. The manufacturing of specialised electrical apparatus relies on the consistent availability of high-quality components and raw materials.

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Key Metrics

REVENUE

₹41 Cr

TTM · consolidated

+12.5%YoY

NET PROFIT

₹4 Cr

TTM · consolidated

+43.8%YoY

EPS

₹1.25

TTM · consolidated

-17.8%YoY

RETURN ON EQUITY

12.3%

TTM · consolidated

+3.1 ppYoY

RETURN ON CAPITAL EMPLOYED

21.1%

TTM · consolidated

+13.7 ppYoY

P/E

38.3x

Q4 FY26 · consolidated

38.3 vs 69.1x5Y avg

EV/EBITDA

21.9x

Q4 FY26 · consolidated

21.9 vs 46.1x5Y avg

EBITDA MARGIN

18.2%

TTM · consolidated

+10.6 ppYoY

NET PROFIT MARGIN

3.5%

Q4 FY26 · consolidated

+19.0 ppYoY

DEBT TO EQUITY

0.2x

Q4 FY26 · consolidated

-0.02xYoY

Peers · Heavy Electrical Equipment

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Aartech SolonicsAARTECH
₹161 Cr38.3421.9112.5%18.2%12.3%21.1%-8.3%
Jyoti StructuresJYOTISTRUC
₹1,114 Cr16.7937.9049.4%9.7%12.4%2.8%-41.0%
IndosolarWAAREEINDO
₹1,064 Cr5.084.026.7%47.7%101.7%112.1%-63.6%
Swelect Energy Systems LimitedSWELECTES
₹882 Cr21.219.52-10.9%28.3%5.0%9.1%-33.8%
Solex EnergySOLEX
₹794 Cr6.975.55—11.0%39.6%39.5%-60.4%
Neueon CorporationNEUEON
₹738 Cr-0.31-4.06—-25.0%-31.6%-26.8%—

As of Q4 FY26

Financials