1. JFE Shoji distribution agreement - Arfin has received an order from its distributor, JFE Shoji India Private Limited, for the supply of aluminium deox products. This channel effectively outsources demand generation to a large Japanese trading house, giving Arfin a steady, high-volume offtake for its recycled aluminium deox products without carrying the sales cost.
2. ₹321 cr Diamond Power conductor order - A repeat order for 11,000 MT of Aluminium Sector Conductor valued at \~₹321 cr (ex-GST) is being executed at \~₹29 cr per month from January to November 2026. At roughly half of the company's last reported annual revenue of ₹618 cr, this single contract locks in a material revenue stream for FY27.
3. MVCC product line launch - Management expects the new Medium Voltage Covered Conductor line to add \~₹100 cr in revenue over three years and to substantially improve overall margins, with production and dispatch starting within FY27. A margin-accretive ₹100 cr top-up on a ₹618 cr revenue base moves the needle on both growth and profitability.
4. EHV conductor capacity coming online - A Rigid Multi-Stranding Machine for EHV conductors (HTLS, ACSS, AL-59) has been approved, and the complementary High-Capacity Double Wire RBD Machine (1,000 MT/month) is already installed with trial production complete and commercial output expected shortly. This removes the upstream wire-drawing bottleneck and positions the company to capture higher-margin EHV orders from FY27.
5. ATSAL titanium venture with Toyo Denka - The wholly owned subsidiary Arfin Titanium & Speciality Alloys Ltd signed an MoU on 17 June 2026 with Toyo Denka Kogyo and JFE Shoji for technical support, manufacturing, and distribution of specialty alloy products in India. If the collaboration proceeds to commercial scale, it opens an entirely new product category beyond aluminium, with technology supplied by a Japanese specialist and distribution routed through the existing JFE network.
6. NSE listing - Equity shares began trading on the NSE on 22 July 2025, adding to the existing BSE listing. A wider investor base and improved liquidity can support a narrower valuation discount over time, particularly as earnings scale.
7. ₹85.6 cr Gujarat government conductor order - A Master Letter of Acceptance from Dakshin Gujarat Vij Company for 20,400 KM of AAAC conductors (\~₹85.6 cr inclusive of GST) runs from May to November 2026. It adds a second large, diversified order book entry alongside the Diamond Power contract, reducing customer concentration through the year.