BSE: 543319
AA Plus Tradelink Limited
Trades in industrial commodities including iron and steel, aluminium, graphite, and alloy products, and additionally takes contracts for aluminium window fittings. The business runs as a single segment on a very lean cost base with minimal capex requirements. In FY26, total revenue declined to Rs 940.67 lakhs and profit after tax fell to Rs 44.97 lakhs, following a sharp pullback in trading volumes. Trade receivables grew sharply during the year, and short-term borrowings increased materially. The company is listed on the BSE SME platform, with all 24,32,48,000 shares held by public non-institutions and no promoter shareholding recorded. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading in industrial products (100%). Small, single-segment commodity trading business with low capex needs and revenue that swung sharply year-on-year
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 11 | 16 | 20 | 20 | 8 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | 0.23 | 0.12 | 0.00 | 0.00 | 0.18 |
| ROE % · ROCE % | — · 2.3 | — · 2.5 | — · 5.2 | — · 3.0 | — · 1.6 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (8) | 0 | (0) | (27) | 0 |
| Capex | — | — | — | 0 | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9 | 7 | 9 | 11 | 12 | 8 | 6 | 2 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | 0.00 | 0.12 | 0.33 | 0.00 | 0.11 | 0.00 | 0.20 | 0.07 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 30,731 | 18.1 | 2.95 | 14.3 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 8,976 | 20.1 | 4.23 | 19.1 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 5,146 | 22.0 | 5.69 | 15.4 | 24.2 | 31.8 | (13.9) | 86.5 |
| SHANKARA BUILDPRO LIMITED | 3,080 | 23.4 | 5.64 | 13.6 | 23.4 | 31.8 | — | 3.3 |
| CREATIVE NEWTECH LIMITED | 1,707 | 26.2 | 4.41 | 19.5 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 952 | 0.1 | 10.59 | — | (0.0) | (0.0) | — | 45.0 |
| The Yamuna Syndicate Ltd | 807 | 8.8 | 0.63 | 203.2 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 667 | 1.0 | — | 52.3 | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 3.2 | 13.9 | 27 of 164 | 84% |
| ROCE | 1.6 | 2.0 | 97 of 184 | 48% |
| Revenue growth | (82.0) | (8.6) | 111 of 135 | 18% |
| Market cap | 30 | 24 | 80 of 177 | 55% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 5 Sept 2026 · Notice of 10th AGM published in newspaper, meeting on September 26 | compliance | minimal | — | — |
| 3 Sept 2026 · Notice of 10th AGM on September 26, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 3 Sept 2026 · AA Plus Tradelink files 10th Annual Report for FY26, AGM on Sep 26 | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · AA Plus Tradelink 10th AGM notice on September 26, 2026 | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Revised E-Voting Details for AGM on 26 September 2026 | board shareholder meetings | minimal | — | — |
| 2 Sept 2026 · Revised book closure notice and 10th AGM on 26 September 2026 | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Revised board outcome: 10th AGM on Sept 26, director appointed | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Board re-appoints Ashok Amritlal Shah as Non-Executive Director | management changes | medium | — | — |
| 1 Sept 2026 · Remote e-voting facility announced for AGM on 26 September 2026 | compliance | minimal | — | — |
| 1 Sept 2026 · Book Closure Notice for 10th AGM - AA Plus Tradelink Limited | corporate actions | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.