Acrow India Ltd (513149)
🎯 Key Takeaways
- ⚠️ Complete absence of revenue and operational activity raises concerns about the company's viability and going-concern status.
📰 What's Happening
Management has not announced any new strategic initiatives, orders, or expansions in the latest filings. The most recent financial results (March 2026) show zero revenue and no operational activity, consistent with prior quarters where revenue fluctuated between ₹0 and ₹7. There are no indications of new contracts, acquisitions, or business restructuring in the disclosed filings. The company continues to operate with minimal disclosures, offering no clarity on revival plans.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 0 | 2 | 7 | 1 | 0 |
| Operating Profit | -0 | -0 | 0 | -0 | -0 |
| OPM % | — | -28.0% | 2.1% | -36.2% | — |
| Net Profit | 0 | -0 | 0 | -0 | 0 |
| EPS | ₹1.37 | ₹-1.31 | ₹7.02 | ₹-0.35 | ₹2.76 |
Revenue has declined sharply from ₹7 in December 2025 to ₹2 in September 2025 and ₹1 in March 2026, with operating losses persisting and margins turning deeply negative. Despite EPS showing volatility — including a spike to ₹7.02 in December 2025 — these are not sustainable, driven by accounting anomalies rather than business performance. The absence of revenue in June 2026 and March 2026 underscores a complete operational freeze, with no signs of recovery or stabilization in cash flow generation.
🔮 Management Outlook & What's Next
There is no available forward guidance or explicit commentary from management in the latest filing (March 2026), and prior disclosures have been sparse and non-committal. The company has not provided any strategic roadmap, revenue targets, or timelines for revival. Investor communications remain minimal, with no earnings calls or management discussions beyond statutory filings, leaving future expectations entirely opaque.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 |
| Reserves | 22 | 22 | 22 | 22 |
| Borrowings | 0 | 0 | 0 | 0 |
| Total Liabilities | 24 | 28 | 27 | 24 |
| Fixed Assets | 3 | 2 | 2 | 2 |
| Investments | 0 | 0 | 0 | 0 |
| Total Assets | 24 | 28 | 27 | 24 |
The balance sheet remains structurally weak but stable, with equity of ₹1 crore and reserves of ₹22 crore as of March 2026, and zero borrowings, indicating no leverage or external financing. Total assets have slightly declined from ₹28 crore to ₹24 crore over the past two years, suggesting asset erosion without meaningful replacement. There is no evidence of capital expenditure or strategic investment, implying capital is idle and not being deployed for recovery or growth.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | -1 |
| Investing | +1 |
| Financing | 0 |
| Net Cash Flow | +0 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 54.6% | 54.6% | 54.6% | 54.6% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 41.2% | 41.1% | 41.1% | 41.2% |
| # Shareholders | 1,380 | 1,358 | 1,325 | 1,183 |
Promoter holding remains unchanged at 54.63% across all recent quarters, with no signs of dilution or stake sale. Public shareholding has marginally declined, while the number of shareholders has gradually reduced, indicating possible retail exit. FII and DII holdings remain negligible at 0%, suggesting no institutional interest or confidence. The shareholder base is highly concentrated and static, with no new investor inflows.
⚖️ Peer Comparison — Trading
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| ADANIENT | 3.88 L Cr | 44.4 | 10.9% | 9.1% | 1.09 |
| PREMIERENE | 46,028 | 27.3 | 50.0% | 59.3% | 0.67 |
| AEGISLOG | 42,841 | 34.2 | 24.6% | 24.4% | 0.40 |
| REDINGTON | 27,307 | 16.1 | 18.4% | 14.8% | 0.26 |
| HONASA | 15,413 | 61.8 | 28.3% | 21.1% | 0.00 |
| 504346 | 11,409 | — | -24.9% | -47.5% | 0.73 |
| LLOYDSENT | 10,901 | 35.5 | 7.0% | 5.7% | 0.17 |
| SGMART | 10,525 | 84.6 | 11.2% | 7.8% | 0.14 |
| MMTC | 9,344 | 20.9 | 42.4% | 26.3% | 0.00 |
| EBGNG | 7,412 | 52.6 | 31.3% | 62.9% | 1.92 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Complete absence of revenue and operational activity raises concerns about the company's viability and going-concern status. 2. Persistent net losses and negative operating margins despite minimal operations indicate structural unprofitability. 3. Lack of management communication or strategic direction creates high uncertainty around revival prospects. 4. Stagnant shareholding and zero institutional interest reflect declining market confidence and liquidity.
📋 Recent Filings
🧠 Analyst's Read
Acrow India appears to be in a state of prolonged inactivity with no visible path to recovery, making it a high-risk entity with limited upside. Investors should monitor for any future operational restart signals or management updates, but current fundamentals and disclosures offer no basis for optimism. The stock's performance is likely driven by speculative interest rather than business fundamentals.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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