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NSE:AARVI

AARVI ENCON LIMITED

Services › Commercial Services & Supplies
₹138.02
at close · 8 Oct 2026
▼ 3.00 (-2.13%)

Latest filings

  1. Aarvi Encon featured in Dun & Bradstreet Leading SMEs of India 2026 · Business Updates
  2. Trading Window Closure for Q2 FY26-27 Results · Compliance
  3. Aarvi Encon Investor Presentation Sep 2026 · Investor Communications
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Provides technical manpower outsourcing and staffing services, deploying engineers and skilled personnel to client projects in the energy and infrastructure sectors. In FY26, the company deployed 8,272 personnel (up from 6,667 in FY25) and reports a 97% client retention rate across 150+ global clients, including L&T, Reliance and Indian Oil. Revenue is heavily concentrated in PSU clients, which accounted for 84% of sales, with Oil & Gas contributing 35% of industry revenue. Operations span India, UAE, UK, Saudi Arabia, Oman, Qatar and Indonesia; the international business grew 73% year-on-year in FY26. Recent order wins include a Rs 20.9 crore manpower contract from Mahanagar Gas Limited and a Rs 38.5 crore contract for a step-down Indonesian subsidiary from a multinational engineering client. The company is also expanding into higher-margin O&M work and new verticals such as Solar Module & Panel Manufacturing, Automobile, Marine, Defence and Healthcare. The cost base is dominated by employee costs at 75.2% of revenue, with negligible material costs and minimal capex.

Operating scale
Manpower deployed
8,272 personnelFY26
Engineers on payroll
5,000+Feb 2026 investor presentation
Global clients
150+Feb 2026 investor presentation
Client retention rate
97%FY26
PSU share of sales
84%9M-FY26
Oil & Gas share of industry revenue
35%9M-FY26
Who pays it
Energy, infrastructure and industrial companies; PSU clients account for 84% of sales (Oil & Gas contributes 35% of industry revenue). Named clients include L&T, Reliance and Indian Oil.
Biggest cost
Employee costs at 75.2% of revenue (FY26); no raw material cost.
Kind of business
Asset-light technical staffing and engineering services; employee-cost-heavy, low-margin services business.
Where it sits
Describes itself as one of India's largest technical manpower outsourcing firms, with international subsidiaries in seven countries and a 3-year revenue CAGR of 20.95%.
Market Cap
₹205 Cr
P / E (TTM)
10.9×
EV / EBITDA
8.4×
Div Yield
1.45%
Growth
26.4%▲
Revenue 5y CAGR
PAT +11.0% · EBITDA +15.7%
Quality
15.1%▲
ROCE (FY26)
ROE 12.4% · margin 3.8%
Leverage
0.19·
Debt / Equity · low
Net debt ₹18 Cr
Revenue FY21→FY26
3.2×▲
Margin −2.5 pts
₹202 Cr → ₹650 Cr
Cash conversion
0.02×▼
Operating cash ÷ profit · 5 yrs
₹2 Cr on ₹66 Cr
Moves on a normal day
1.28%·
Median daily move
Last 268 sessions · the yardstick for filing-day moves
Where it sits among 127 Diversified Commercial Services peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#31/80
P/B#51/96
ROCE#24/103
ROE#29/113
Debt / Equity#58/91
EBITDA margin#67/92
Revenue growth#48/91
Profit growth#43/110

Scorecard

Measured from the filed financials, judged against its Diversified Commercial Services peers · as of FY26 — not investment advice

Strengths
Revenue compounding 26% a year over 5 years
Returns on capital 15.1%
#24 of 103 in Diversified Commercial Services on the latest reported figures
Concerns
Over 5 years it reported ₹66 Cr of profit and ₹1.59 Cr of operating cash — 0.02×
Less than 60p of every ₹1 of profit arrived as cash

Charts

How has the market priced it — with filings on the timeline?

AARVI · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from AARVI ENCON LIMITED's filed financials and exchange disclosures

What does AARVI ENCON LIMITED do?

AARVI ENCON LIMITED is a Commercial Services & Supplies company listed on NSE and BSE, trading under the symbol AARVI.

Is AARVI ENCON LIMITED profitable?

Yes. Over the trailing twelve months AARVI ENCON LIMITED reported a net profit of ₹19 Cr on revenue of ₹671 Cr.

Does AARVI ENCON LIMITED pay a dividend?

Yes. The dividend yield is 1.45% at the current price. It paid out 17% of its profit as dividend in FY26.

Is AARVI ENCON LIMITED debt-free?

No. It reported borrowings of ₹27 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹18 Cr after cash. Debt stands at 0.19× equity. That is higher than 63% of its 91 Diversified Commercial Services peers.

Is AARVI ENCON LIMITED expensive compared with its peers?

On trailing P/E, AARVI ENCON LIMITED ranks 31 of 80 in Diversified Commercial Services — cheaper than 62% of them, against an industry median of 13.5×. This is a position, not a valuation judgement.

How much does the AARVI ENCON LIMITED share price move in a day?

On a typical session AARVI ENCON LIMITED moves 1.28% — that is the median absolute close-to-close move across its last 268 trading days. MarketPing measures each filing's price reaction against it.

Where can I track AARVI ENCON LIMITED's announcements?

Every NSE and BSE filing by AARVI ENCON LIMITED appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.