Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: ₹0.62 (vs ₹0.14 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.62 (up from ₹0.14 in 3Q 2025). Revenue: ₹380.8m (up 42% from 3Q 2025). Net income: ₹77.4m (up 315% from 3Q 2025). Profit margin: 20% (up from 7.0% in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. New Risk • Feb 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Market cap is less than US$100m (₹2.28b market cap, or US$25.1m). Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹13.79, the stock trades at a trailing P/E ratio of 74.8x. Average trailing P/E is 25x in the Professional Services industry in India. Total loss to shareholders of 17% over the past three years. Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: ₹0.06 (vs ₹0.13 loss in 2Q 2025) Second quarter 2026 results: EPS: ₹0.06 (up from ₹0.13 loss in 2Q 2025). Revenue: ₹260.7m (flat on 2Q 2025). Net income: ₹7.52m (up ₹24.2m from 2Q 2025). Profit margin: 2.9% (up from net loss in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year. Announcement • Sep 01
Airan Limited, Annual General Meeting, Sep 27, 2025 Airan Limited, Annual General Meeting, Sep 27, 2025, at 10:00 Indian Standard Time. Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: ₹0.25 (vs ₹1.74 in 1Q 2025) First quarter 2026 results: EPS: ₹0.25 (down from ₹1.74 in 1Q 2025). Revenue: ₹257.0m (down 1.8% from 1Q 2025). Net income: ₹31.5m (down 86% from 1Q 2025). Profit margin: 12% (down from 83% in 1Q 2025). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Aug 05
Airan Limited to Report Q1, 2026 Results on Aug 14, 2025 Airan Limited announced that they will report Q1, 2026 results on Aug 14, 2025 Reported Earnings • May 29
Full year 2025 earnings released: EPS: ₹1.46 (vs ₹1.00 in FY 2024) Full year 2025 results: EPS: ₹1.46 (up from ₹1.00 in FY 2024). Revenue: ₹1.18b (up 11% from FY 2024). Net income: ₹184.1m (up 47% from FY 2024). Profit margin: 16% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • May 17
Airan Limited to Report Fiscal Year 2025 Final Results on May 28, 2025 Airan Limited announced that they will report fiscal year 2025 final results on May 28, 2025 Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹27.97, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 26x in the Professional Services industry in India. Total returns to shareholders of 41% over the past three years. Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: ₹0.14 (vs ₹0.25 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.14 (down from ₹0.25 in 3Q 2024). Revenue: ₹268.0m (up 6.1% from 3Q 2024). Net income: ₹18.7m (down 39% from 3Q 2024). Profit margin: 7.0% (down from 12% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Feb 06
Airan Limited to Report Q3, 2025 Results on Feb 14, 2025 Airan Limited announced that they will report Q3, 2025 results on Feb 14, 2025 New Risk • Jan 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risk Market cap is less than US$100m (₹3.92b market cap, or US$45.3m). Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹36.81, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 37x in the Professional Services industry in India. Total returns to shareholders of 47% over the past three years. Reported Earnings • Nov 16
Second quarter 2025 earnings released: ₹0.13 loss per share (vs ₹0.25 profit in 2Q 2024) Second quarter 2025 results: ₹0.13 loss per share (down from ₹0.25 profit in 2Q 2024). Revenue: ₹249.2m (down 6.4% from 2Q 2024). Net loss: ₹16.6m (down 154% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Nov 05
Airan Limited to Report Q2, 2025 Results on Nov 14, 2024 Airan Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Announcement • Sep 02
Airan Limited, Annual General Meeting, Sep 28, 2024 Airan Limited, Annual General Meeting, Sep 28, 2024, at 09:00 Indian Standard Time. Recent Insider Transactions • Aug 23
MD & Chairman recently sold ₹1.5m worth of stock On the 20th of August, Sandeepkumar Agrawal sold around 35k shares on-market at roughly ₹43.02 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Sandeepkumar has been a net seller over the last 12 months, reducing personal holdings by ₹3.0m. Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹1.74 (vs ₹0.14 in 1Q 2024) First quarter 2025 results: EPS: ₹1.74 (up from ₹0.14 in 1Q 2024). Revenue: ₹481.1m (up 101% from 1Q 2024). Net income: ₹217.4m (up ₹199.1m from 1Q 2024). Profit margin: 45% (up from 7.6% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹38.48, the stock trades at a trailing P/E ratio of 38.3x. Average trailing P/E is 36x in the Professional Services industry in India. Total returns to shareholders of 79% over the past three years. New Risk • Aug 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (₹4.73b market cap, or US$56.3m). Announcement • Aug 05
Airan Limited to Report Q1, 2025 Results on Aug 14, 2024 Airan Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Reported Earnings • May 29
Full year 2024 earnings released: EPS: ₹0.98 (vs ₹0.83 in FY 2023) Full year 2024 results: EPS: ₹0.98 (up from ₹0.83 in FY 2023). Revenue: ₹1.09b (up 12% from FY 2023). Net income: ₹125.5m (up 21% from FY 2023). Profit margin: 12% (up from 11% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹26.80, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 25x in the Professional Services industry in India. Total returns to shareholders of 64% over the past three years. Announcement • Feb 28
Airan Limited Announces Resignation of Sarita Neeraj Aggarwal Director as Non-Executive-Non-Independent Director Airan Limited informed that Mrs. Sarita Neeraj Aggarwal, a Non-Executive-Non-Independent Director, has tendered her resignation from the Directorship of the Company with effect from 26th February, 2024 along with her membership in various committees in the company. Resignation due to other professional commitments. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: ₹0.25 (vs ₹0.29 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.25 (down from ₹0.29 in 3Q 2023). Revenue: ₹262.2m (flat on 3Q 2023). Net income: ₹30.4m (down 12% from 3Q 2023). Profit margin: 12% (down from 13% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 16% per year. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹26.80, the stock trades at a trailing P/E ratio of 30x. Average trailing P/E is 25x in the Professional Services industry in India. Total returns to shareholders of 40% over the past three years. Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: ₹0.25 (vs ₹0.21 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.25 (up from ₹0.21 in 2Q 2023). Revenue: ₹272.5m (up 13% from 2Q 2023). Net income: ₹30.6m (up 24% from 2Q 2023). Profit margin: 11% (up from 10% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Sep 29
MD & Chairman recently sold ₹1.1m worth of stock On the 26th of September, Sandeepkumar Agrawal sold around 41k shares on-market at roughly ₹26.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Sandeepkumar's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹27.20, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 26x in the Professional Services industry in India. Total returns to shareholders of 127% over the past three years. Announcement • Aug 26
Airan Limited, Annual General Meeting, Sep 27, 2023 Airan Limited, Annual General Meeting, Sep 27, 2023. Reported Earnings • Aug 13
First quarter 2024 earnings released: EPS: ₹0.14 (vs ₹0.13 in 1Q 2023) First quarter 2024 results: EPS: ₹0.14 (up from ₹0.13 in 1Q 2023). Revenue: ₹238.7m (up 13% from 1Q 2023). Net income: ₹18.3m (up 14% from 1Q 2023). Profit margin: 7.6% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 20% per year. Announcement • Aug 04
Airan Limited to Report Q1, 2024 Results on Aug 12, 2023 Airan Limited announced that they will report Q1, 2024 results at 12:08 PM, Indian Standard Time on Aug 12, 2023 Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹21.30, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 23x in the Professional Services industry in India. Total returns to shareholders of 66% over the past three years. Reported Earnings • May 30
Full year 2023 earnings released: EPS: ₹0.84 (vs ₹0.77 in FY 2022) Full year 2023 results: EPS: ₹0.84 (up from ₹0.77 in FY 2022). Revenue: ₹1.00b (up 15% from FY 2022). Net income: ₹103.6m (up 7.7% from FY 2022). Profit margin: 10% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • May 23
Airan Limited to Report Q4, 2023 Results on May 28, 2023 Airan Limited announced that they will report Q4, 2023 results at 12:08 PM, Indian Standard Time on May 28, 2023 Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹0.29 (vs ₹0.21 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.29 (up from ₹0.21 in 3Q 2022). Revenue: ₹273.4m (up 28% from 3Q 2022). Net income: ₹34.6m (up 36% from 3Q 2022). Profit margin: 13% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 19
Second quarter 2023 earnings released: EPS: ₹0.21 (vs ₹0.18 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.21 (up from ₹0.18 in 2Q 2022). Revenue: ₹246.3m (up 17% from 2Q 2022). Net income: ₹24.8m (up 15% from 2Q 2022). Profit margin: 10.0% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 16% per year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 2 highly experienced directors. Executive Director Abhishek Agrawal was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Oct 12
Airan Limited (NSEI:AIRAN) acquired 16.32% stake in Beacon Trusteeship Limited for INR 57.7 million. Airan Limited (NSEI:AIRAN) acquired 16.32% stake in Beacon Trusteeship Limited for INR 57.7 million on October 11, 2022. The board of directors of Airan Limited approved the proposal of acquisition of 4,92,849 Equity Shares of face value of INR 10 each of Beacon Trusteeship Limited at a price of INR 117 per share. As on March 31, 2022, Beacon reported revenue of INR 100.2 million.Airan Limited (NSEI:AIRAN) completed the acquisition of 16.32% stake in Beacon Trusteeship Limited on October 11, 2022. Recent Insider Transactions • Sep 09
MD & Chairman recently sold ₹15m worth of stock On the 7th of September, Sandeepkumar Agrawal sold around 765k shares on-market at roughly ₹19.13 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹16m. Sandeepkumar has been a net seller over the last 12 months, reducing personal holdings by ₹42m. Announcement • Sep 02
Airan Limited, Annual General Meeting, Sep 24, 2022 Airan Limited, Annual General Meeting, Sep 24, 2022, at 09:00 Indian Standard Time. Agenda: To consider and adopt audited Standalone Financial Statement of the Company for the Financial Year ended on 31 March, 2022; To re- appoint Mrs. Sarita Neeraj Aggrawal Director of the Company as director; To re-appoint M/s. Deora Maheshwari & Co., Chartered Accountants as statutory auditors of the Company and to fix their remuneration for a second term of four years; To Re-appointment of Mr. Manish Chidambaram Iyer as an Independent Director of the company. Recent Insider Transactions • Aug 22
MD & Chairman recently sold ₹16m worth of stock On the 19th of August, Sandeepkumar Agrawal sold around 808k shares on-market at roughly ₹19.70 per share. This was the largest sale by an insider in the last 3 months. Sandeepkumar has been a seller over the last 12 months, reducing personal holdings by ₹27m. Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: ₹0.13 (vs ₹0.13 in 1Q 2022) First quarter 2023 results: EPS: ₹0.13 (vs ₹0.13 in 1Q 2022). Revenue: ₹223.0m (up 15% from 1Q 2022). Net income: ₹16.0m (up 1.6% from 1Q 2022). Profit margin: 7.2% (down from 8.1% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improved over the past week After last week's 19% share price gain to ₹22.85, the stock trades at a trailing P/E ratio of 29.8x. Average trailing P/E is 27x in the IT industry in India. Total loss to shareholders of 24% over the past three years. Reported Earnings • May 22
Full year 2022 earnings released: EPS: ₹0.80 (vs ₹0.47 in FY 2021) Full year 2022 results: EPS: ₹0.80 (up from ₹0.47 in FY 2021). Revenue: ₹932.0m (up 41% from FY 2021). Net income: ₹96.0m (up 64% from FY 2021). Profit margin: 10% (up from 8.8% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 2 highly experienced directors. Executive Director Abhishek Agrawal was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improved over the past week After last week's 27% share price gain to ₹23.00, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 32x in the IT industry in India. Total loss to shareholders of 25% over the past three years. Recent Insider Transactions • Feb 04
MD & Chairman recently sold ₹11m worth of stock On the 2nd of February, Sandeepkumar Agrawal sold around 475k shares on-market at roughly ₹23.91 per share. This was the largest sale by an insider in the last 3 months. Sandeepkumar has been a seller over the last 12 months, reducing personal holdings by ₹5.6m. Reported Earnings • Jan 31
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.21 (up from ₹0.19 in 3Q 2021). Revenue: ₹230.0m (up 18% from 3Q 2021). Net income: ₹25.4m (up 4.3% from 3Q 2021). Profit margin: 11% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 16% share price gain to ₹24.25, the stock trades at a trailing P/E ratio of 35.1x. Average trailing P/E is 31x in the IT industry in India. Total loss to shareholders of 19% over the past three years. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improved over the past week After last week's 19% share price gain to ₹23.85, the stock trades at a trailing P/E ratio of 34.5x. Average trailing P/E is 28x in the IT industry in India. Total loss to shareholders of 19% over the past three years. Board Change • Sep 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Executive Director Abhishek Agrawal was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 17% share price gain to ₹23.40, the stock trades at a trailing P/E ratio of 37.1x. Average trailing P/E is 29x in the IT industry in India. Total loss to shareholders of 33% over the past three years. Reported Earnings • Aug 18
First quarter 2022 earnings released: EPS ₹0.13 (vs ₹0.01 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹202.7m (up 94% from 1Q 2021). Net income: ₹15.7m (up ₹14.1m from 1Q 2021). Profit margin: 7.8% (up from 1.5% in 1Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Jun 27
Full year 2021 earnings released: EPS ₹0.47 (vs ₹0.56 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: ₹685.5m (up 19% from FY 2020). Net income: ₹58.6m (down 13% from FY 2020). Profit margin: 8.5% (down from 12% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improved over the past week After last week's 37% share price gain to ₹34.05, the stock trades at a trailing P/E ratio of 72.2x. Average trailing P/E is 30x in the IT industry in India. Total returns to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 18% share price gain to ₹24.20, the stock trades at a trailing P/E ratio of 51.3x. Average trailing P/E is 28x in the IT industry in India. Total loss to shareholders of 2.0% over the past three years. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improved over the past week After last week's 24% share price gain to ₹20.00, the stock trades at a trailing P/E ratio of 42.4x. Average trailing P/E is 24x in the IT industry in India. Total loss to shareholders of 18% over the past three years. Recent Insider Transactions • Mar 31
MD & Chairman recently bought ₹2.3m worth of stock On the 22nd of March, Sandeepkumar Agrawal bought around 145k shares on-market at roughly ₹16.14 per share. This was the largest purchase by an insider in the last 3 months. Sandeepkumar has been a buyer over the last 12 months, purchasing a net total of ₹11m worth in shares. Recent Insider Transactions • Mar 19
MD & Chairman recently bought ₹628k worth of stock On the 16th of March, Sandeepkumar Agrawal bought around 40k shares on-market at roughly ₹15.69 per share. This was the largest purchase by an insider in the last 3 months. Sandeepkumar has been a buyer over the last 12 months, purchasing a net total of ₹7.4m worth in shares. Is New 90 Day High Low • Mar 15
New 90-day low: ₹15.45 The company is down 10.0% from a price of ₹17.20 on 15 December 2020. Underperformed the Indian market, which is up 14% over the last 90 days. Lagged the IT industry, which is up 18% over the same period. Announcement • Mar 11
Airan Limited (NSEI:AIRAN) agreed to acquire 70.5% stake in Quadpro E Services Private Limited for INR 34.9 million. Airan Limited (NSEI:AIRAN) agreed to acquire 70.5% stake in Quadpro E Services Private Limited for INR 34.9 million on March 9, 2021. Airan will acquire 1.5 million shares at INR 24 per share. As on March 31, 2020 Quadpro E Services Private Limited has turnover of INR 128.1 million. Share Purchase Agreement proposed to be entered on or before March 10, 2021. Quadpro E Services Private Limited proposed to be acquired on or before March 15, 2021. Reported Earnings • Feb 14
Third quarter 2021 earnings released: EPS ₹0.19 (vs ₹0.13 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹194.5m (up 23% from 3Q 2020). Net income: ₹24.3m (up 51% from 3Q 2020). Profit margin: 13% (up from 10% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 88% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Dec 02
Market bids up stock over the past week After last week's 17% share price gain to ₹18.35, the stock is trading at a trailing P/E ratio of 45.1x, up from the previous P/E ratio of 38.6x. This compares to an average P/E of 19x in the IT industry in India. Total return to shareholders over the past three years is a loss of 6.9%. Valuation Update With 7 Day Price Move • Nov 30
Market bids up stock over the past week After last week's 16% share price gain to ₹16.35, the stock is trading at a trailing P/E ratio of 40.2x, up from the previous P/E ratio of 34.7x. This compares to an average P/E of 19x in the IT industry in India. Total return to shareholders over the past three years is a loss of 18%. Recent Insider Transactions • Nov 20
Executive Director recently bought ₹1.4m worth of stock On the 18th of November, Poonam Agrawal bought around 100k shares on-market at roughly ₹14.00 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹2.3m. Insiders have collectively bought ₹5.6m more in shares than they have sold in the last 12 months. Is New 90 Day High Low • Nov 12
New 90-day high: ₹14.05 The company is up 14% from its price of ₹12.30 on 14 August 2020. The Indian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 19% over the same period. 
