Arfin India

ARFIN.NS

Aluminum · Basic Materials

Exchange

National Stock Exchange of India

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Exceptional

Cash Flow

Weak

Stability

Good

Valuation

Weak

Dividends

Weak

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Winston Score History

The full picture

Arfin India Ltd is an Indian manufacturer of aluminum products, primarily aluminum alloy ingots, wire rods, and other semi-finished aluminum goods. The company sells to industries like automotive, electrical, and construction, which use aluminum as a raw material to make parts and components. It operates in India's basic materials sector, serving domestic manufacturers who need reliable supplies of processed aluminum.

Arfin makes money by buying raw aluminum and scrap, processing it into finished or semi-finished products, and selling those to industrial customers — a model known as a conversion or value-added manufacturing business. The company is based in Gujarat, India, and operates primarily within the Indian domestic market. Its gross margin of around 15% reflects the thin spreads typical of commodity metal processing, where raw material costs are the biggest variable. The key growth driver is India's expanding automotive and infrastructure sectors, which are increasing demand for aluminum components, but rising scrap prices or energy costs remain a persistent risk to profitability.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+28.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

83.8%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

₹72M cash & investments

Quarterly Free Cash Flow

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Arfin India grew revenue 29% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

8.0%

Thin — 8.0% gross margin

Profit after running costs

Operating Margin

4.2%

Thin — 4.2% operating margin

Return on the money invested

ROCE

15.0%

Strong — 15.0% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+22.7%

Fast-growing sales (+22.7% YoY)

Profit growth

EPS YoY

+158.9%

Earnings growing fast (+158.9% YoY)

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

How steady the profit is

EPS Consistency

3/4 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

-17%

Weak — only -17% of profit becomes cash

Spare cash per sale

FCF Margin

-1.8%

Burning cash (-1.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.76

Moderate — manageable debt (0.76)

Covers its interest

Interest Cover

2.40x

Tight — interest eats into profit (2.4x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

78.6x

no trend

Expensive — P/E 78.6

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

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

0.12%

no trend

Small dividend — 0.12% yield

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

Dividend record

Dividend Growth

N/A

no trend

Data not available

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