NSE: ASPINWALL
ASPINWALL & CO LTD
Operates three main businesses — Coffee, Logistics and Plantation — generating ₹417.15 crore of revenue in FY26. Coffee is the largest segment at 43.8% of segment revenue (₹178.2 crore), with Logistics at 36.8% (₹149.84 crore) involving freight forwarding, and Plantation at 15.6% (₹63.3 crore). Total revenue rose 24.2% year-on-year, with the Coffee segment specifically growing 36%, though net profit declined 9.4% to ₹13.16 crore as EBITDA margin compressed from 7.5% to 5.3%. The largest cost lines are other operating expenses at 35.5% of revenue and materials at 30.9%, with employee costs at 12.7%. The company carries a CRISIL BBB/Stable long-term credit rating on ₹126.5 crore of bank loan facilities. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Coffee (44%), Logistics (37%), Plantation (16%), Others (4%). Diversified three-segment business with similar EBIT margins across coffee, logistics and plantation
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 260 | 295 | 296 | 336 | 417 |
| EBITDA (ex other income) | 22 | 37 | 9 | 19 | 22 |
| margin % | 8.5 | 12.7 | 3.1 | 5.6 | 5.4 |
| Owners' profit | 15 | 29 | 11 | 15 | 13 |
| EPS, as reported (₹) | 19.53 | 36.51 | 13.66 | 18.59 | 16.83 |
| ROE % · ROCE % | — · — | 16.2 · 20.3 | 5.8 · 6.9 | 7.5 · 10.1 | 6.6 · 10.6 |
| Debt / equity (x) | — | 0.08 | 0.11 | 0.35 | 0.38 |
| Cash from operations | 16 | 35 | 4 | (35) | (22) |
| Capex | (6) | (5) | (12) | (7) | (9) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 74 | 90 | 89 | 90 | 83 | 114 | 130 | 113 |
| Profit before tax | 4 | 6 | 2 | (4) | 3 | 7 | 9 | (1) |
| Net profit | 4 | 5 | 2 | (3) | 3 | 8 | 6 | (1) |
| EPS (₹) | 4.84 | 6.16 | 2.89 | (4.18) | 3.58 | 9.74 | 7.69 | (0.90) |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Logistics | 160 | 38.4 |
| Coffee | 178 | 42.7 |
| Plantation | 63 | 15.2 |
| Others | 15 | 3.7 |
| Total, before eliminations | 417 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| 3M INDIA LIMITED | 32,491 | 53.1 | 15.13 | 37.5 | 27.2 | 35.7 | 6.8 | 21.7 |
| GODREJ INDUSTRIES LTD | 31,855 | 27.1 | 1.37 | 13.5 | 10.4 | 6.4 | 19.0 | 27.3 |
| DCM SHRIRAM LIMITED | 14,235 | 9.8 | 1.84 | 10.0 | 11.1 | 9.5 | 11.4 | 11.7 |
| KAMA HOLDINGS LTD. | 6,790 | 7.3 | 0.45 | — | 12.3 | — | 13.5 | 22.4 |
| BALMER LAWRIE & CO LTD | 2,647 | 9.5 | 1.27 | 6.8 | 13.0 | 11.2 | 12.2 | 14.8 |
| TTK HEALTHCARE LIMITED | 1,448 | 19.6 | 1.30 | — | 5.9 | 7.4 | — | 12.2 |
| EMPIRE INDUSTRIES LTD. | 563 | 10.9 | 1.60 | — | 14.7 | 10.5 | — | 19.5 |
| GILLANDERS ARBUTHNOT LTD | 203 | 11.6 | 0.79 | 10.0 | 3.7 | 3.5 | 0.0 | 9.0 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 11.5 | 11.5 | 8 of 15 | 50% |
| P/B | 0.9 | 1.1 | 6 of 14 | 62% |
| ROCE | 7.3 | 8.4 | 9 of 14 | 39% |
| ROE | 6.5 | 10.7 | 10 of 14 | 31% |
| Debt / Equity | 0.4 | 0.4 | 8 of 13 | 42% |
| EBITDA margin | 2.4 | 20.6 | 14 of 14 | 0% |
| Revenue growth | 25.8 | 11.9 | 3 of 14 | 85% |
| Profit growth | 78.6 | 100.4 | 8 of 13 | 42% |
| Market cap | 180 | 203 | 9 of 15 | 43% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Routine quarterly compliance certificate filed with NSE | compliance | minimal | — | — |
| 29 Sept 2026 · Trading window closed from Oct 1 for Q2 and H1 FY26 results | compliance | minimal | — | — |
| 10 Aug 2026 · Aspinwall Q1 FY27 results out: revenue up 26 percent, loss narrows | compliance | minimal | — | — |
| 5 Aug 2026 · Aspinwall Q1 FY27: Revenue up 26% YoY, loss narrows | results | high | — | — |
| 25 Jul 2026 · AGM voting results: all 6 resolutions passed with near-unanimous support | compliance | minimal | — | — |
| 23 Jul 2026 · Aspinwall 106th AGM held; dividend, reappointments approved | board shareholder meetings | low | — | — |
| 7 Jul 2026 · Compliance filing: SEBI Regulation 74(5) certificate for June 2026 quarter | compliance | minimal | — | — |
| 1 Jul 2026 · Aspinwall - Copies of newspaper publication of AGM Notice filed | compliance | minimal | — | — |
| 30 Jun 2026 · Aspinwall fixes July 16 2026 as record date for AGM and dividend eligibility | corporate actions | medium | — | — |
| 29 Jun 2026 · Trading window closed from July 1 for Q1 results | compliance | minimal | — | — |
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.