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 · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 11 | 16 | 20 | 20 | 8 |
| EBITDA (ex other income) | (1) | (1) | (0) | (0) | (1) |
| margin % | (5.0) | (3.2) | (1.1) | (1.7) | (7.5) |
| 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 | 25,680 | 13.8 | 2.36 | 12.2 | 8.0 | 10.8 | 15.9 | 2.0 |
| MMTC LIMITED | 8,018 | 17.9 | 3.78 | — | 18.3 | 21.6 | (83.7) | (2969.1) |
| MSTC LIMITED | 4,160 | 17.8 | 4.60 | 16.7 | 24.2 | 31.8 | (13.9) | 61.3 |
| CREATIVE NEWTECH LIMITED | 1,993 | 28.0 | 4.64 | 26.8 | 9.2 | 10.3 | — | 5.0 |
| Pervasive Commodities Limited | 1,182 | 77.2 | 13.13 | — | 0.0 | 0.0 | — | 1.9 |
| The Yamuna Syndicate Ltd | 774 | 8.5 | 0.60 | 508.1 | 4.0 | 0.3 | 4.8 | 3.4 |
| SHIV AUM STEELS LIMITED | 748 | 65.8 | 6.19 | 54.1 | 6.0 | 6.9 | — | 4.7 |
| THE STATE TRADING CORPN | 624 | 0.9 | — | — | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 1.9 | 14.7 | 12 of 132 | 92% |
| ROCE | 1.6 | 1.6 | 89 of 175 | 49% |
| EBITDA margin | (26.4) | 2.3 | 124 of 146 | 15% |
| Revenue growth | (82.0) | (8.6) | 113 of 135 | 16% |
| Market cap | 18 | 21 | 100 of 178 | 44% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 5 Nov 2026 · Board to approve half-year results on 14 November 2026 | results | low | — | — |
| 7 Oct 2026 · Routine SEBI Reg 74(5) compliance certificate for Q2 FY27 | compliance | minimal | — | — |
| 1 Oct 2026 · 10th AGM results: both resolutions passed with 100 percent approval | board shareholder meetings | low | — | — |
| 26 Sept 2026 · 10th AGM held; financials adopted and director reappointed | board shareholder meetings | low | — | — |
| 26 Sept 2026 · 10th AGM outcome - financials adopted, director re-appointed | board shareholder meetings | low | — | — |
| 22 Sept 2026 · Trading Window Closure for Half Year ended 30 Sept 2026 | compliance | minimal | — | — |
| 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 | — | — |
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.