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Arham Technologies Ltd

ARHAM
NSE
144.95
2.36%
Last Updated:
29 Apr '26, 4:00 PM
Company Overview
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Arham Technologies Ltd

ARHAM
NSE
144.95
2.36%
29 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
316Cr
Close
Close Price
144.95
Industry
Industry
Electronics - TV/Audio/VCR/VCP
PE
Price To Earnings
23.30
PS
Price To Sales
3.81
Revenue
Revenue
83Cr
Rev Gr TTM
Revenue Growth TTM
38.24%
PAT Gr TTM
PAT Growth TTM
81.10%
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ARHAM
VS

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterSep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Revenue
RevenueCr
2728323746
Growth YoY
Revenue Growth YoY%
19.835.440.7
Expenses
ExpensesCr
2422273037
Operating Profit
Operating ProfitCr
35588
OPM
OPM%
11.519.515.920.118.5
Other Income
Other IncomeCr
00001
Interest Expense
Interest ExpenseCr
11111
Depreciation
DepreciationCr
01100
PBT
PBTCr
25478
Tax
TaxCr
11121
PAT
PATCr
23356
Growth YoY
PAT Growth YoY%
55.345.9123.5
NPM
NPM%
6.311.58.112.412.9
EPS
EPS
1.01.93.12.73.5

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2025TTM
Revenue
RevenueCr
7083
Growth
Revenue Growth%
18.9
Expenses
ExpensesCr
5767
Operating Profit
Operating ProfitCr
1316
OPM
OPM%
18.119.3
Other Income
Other IncomeCr
01
Interest Expense
Interest ExpenseCr
23
Depreciation
DepreciationCr
11
PBT
PBTCr
1014
Tax
TaxCr
23
PAT
PATCr
711
Growth
PAT Growth%
44.8
NPM
NPM%
10.412.7
EPS
EPS
4.36.2

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial Year
Equity Capital
Equity CapitalCr
Reserves
ReservesCr
Current Liabilities
Current LiabilitiesCr
Non Current Liabilities
Non Current LiabilitiesCr
Total Liabilities
Total LiabilitiesCr
Current Assets
Current AssetsCr
Non Current Assets
Non Current AssetsCr
Total Assets
Total AssetsCr

Cash Flow

Consolidated
Standalone
Financial YearMar 2025
Operating Cash Flow
Operating Cash FlowCr
2
Investing Cash Flow
Investing Cash FlowCr
1
Financing Cash Flow
Financing Cash FlowCr
-2
Net Cash Flow
Net Cash FlowCr
0
Free Cash Flow
Free Cash FlowCr
CFO To PAT
CFO To PAT%
28.6
CFO To EBITDA
CFO To EBITDA%
16.4

Ratios

Consolidated
Standalone
Financial YearMar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
140
Price To Earnings
Price To Earnings
19.2
Price To Sales
Price To Sales
2.0
Price To Book
Price To Book
4.5
EV To EBITDA
EV To EBITDA
Profitability Ratios
Profitability Ratios
GPM
GPM%
24.9
OPM
OPM%
18.1
NPM
NPM%
10.4
ROCE
ROCE%
ROE
ROE%
ROA
ROA%
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Arham Technologies Limited, established in 2013 and headquartered in **Nava Raipur, Chhattisgarh**, is a fast-emerging Indian electronics manufacturer and OEM focused on delivering **affordable, high-quality consumer electronics and home appliances** tailored for Indian conditions. Operating primarily under its flagship brand **STARSHINE** (premium) and its economy brand **ARATTON**, the company is strategically positioned to capture growth in **Tier II, Tier III towns, and rural India (Bharat market)** through localized manufacturing, robust distribution, and product innovation. --- ### **Core Business & Product Portfolio** The company manufactures a wide range of consumer electronics and electrical appliances with **end-to-end in-house production** for TVs, ceiling fans, and air coolers. Key products include: - **Smart LED Televisions** (32” to 85”): Available with **Google TV, webOS, and Cloud TV platforms**; ROHS certified and backed by a **3-year industry-leading warranty**. - **BLDC Ceiling Fans & Solar Fans**: Energy-efficient, BEE and BIS certified; 5-year warranty. - **Home Appliances**: Washing machines (semi-automatic), mixer grinders, pedestal/table fans, exhaust fans, and air coolers—engineered for **low voltage, water pressure, and harsh conditions**. Additionally, Arham provides **white-label manufacturing services** to regional and institutional clients, such as its **OEM agreement with Kuber Bhandar (Odisha)** for "Ego’s Smart" fans. --- ### **Manufacturing & Operational Strength** Arham leverages a **state-of-the-art manufacturing facility** in the **Electronic Manufacturing Cluster (EMC), Nava Raipur**, featuring: - **Class 1K clean rooms**, ESD-controlled assembly lines, automated stator winding, and multi-stage testing systems. - **In-house production** for TVs, fans, and coolers ensures superior **quality control and production efficiency**. - **Backward integration**: Investments in **sheet metal fabrication and injection moulding** units (₹30+ crore capex) to produce TV cabinets, fan blades, and plastic components in-house—reducing vendor dependency, cutting costs, and accelerating product development. **Total Manufacturing Capacity**: - **850,000 units/year** across product lines. - Smart TVs: **300,000 units/year** (32”–85”) - Fans: **500,000 units/year** (ceiling, BLDC, pedestal, table, exhaust) - Home appliances: **>50,000 units/year** - **Current Capacity Utilization**: ~30% - **Target FY28**: **80% utilization** to improve fixed-cost absorption and margins. --- ### **Strategic Growth Initiatives** #### 1. **Product Expansion** - Launched **AI-integrated Google TVs**, **4K large-screen TVs (75”, 85”)**, and **Solar BLDC fans**. - Entered **high-growth, high-margin segments**: - **Interactive Flat Panel Displays (IFPDs)** (43”–98”) for **smart classrooms, digital signage, and ed-tech**. - **IoT-enabled solutions** in partnership with **Magure Softwares** (MoU, Dec 2023). - **Capital expenditure of ₹18.5 crore** allocated to expand IFPD and digital signage production. - Project funded via **term loan (₹7.5 Cr)** and **internal accruals (₹11 Cr)**. #### 2. **Distribution & Market Expansion** - **National Footprint**: - Over **500 dealer partners** across **8+ states**, including Chhattisgarh, Odisha, MP, Andhra Pradesh, and parts of Uttar Pradesh. - Expanding into **Gujarat, Rajasthan, Maharashtra, Jharkhand, Bihar, and UP**. - **Southern India Push**: Strategic expansion into **Tamil Nadu, Karnataka, Telangana, Andhra Pradesh** (FY26–27 target). - **Modern Retail Partnerships**: Tie-ups with **Croma, Vijay Sales** to strengthen offline presence. - **E-commerce Growth**: Direct-to-consumer via **www.starshine.co.in** and key platforms (Amazon, Flipkart); marketing partnership with **Starshine Venture Pvt Ltd** for digital sales. #### 3. **International Expansion** - Achieved **export debut in FY25**, targeting **20% of total revenue from exports by FY27–28**. - Focus markets: **Middle East, Africa, and ASEAN**—driven by strong demand for **Indian-made, efficient, and durable ceiling fans**. - **Logistical Advantage**: Proximity to **inland port in Raipur** reduces freight and import-export costs vs. coastal hubs. #### 4. **Government & Institutional Demand** - Secured first government order: **₹27.6 lakh supply of Starshine TVs** to **Atal Nagar Vikas Pradhikaran (Chhattisgarh)**. - **Vendor registration with CSIDC (May 2024)** enables participation in state and national tenders. - Targeting **large-scale smart TV and IFPD procurement** under **government education initiatives** (e.g., smart classrooms), offering **predictable, low-credit-risk revenue**. --- ### **Brand & Marketing Strategy** - **Starshine Brand Ambassadors**: Actress **Mona Singh** engaged (Apr 2024) to boost national visibility. - **Marketing Investment**: **₹3.25 crore allocated** for advertising to strengthen brand recall. - Enhanced **brand positioning** with **longer warranties** (3 years TV, 5 years fans), **affordable large-screen TVs**, and **strong after-sales service network**. --- ### **Innovation & Technology** - **Quality-first philosophy**: Each TV undergoes standardized aging; fans pass **8-stage quality testing**. - **Digital & AI Initiatives**: - **AI-powered distributor acquisition** in collaboration with **QLead.ai** (intent analysis, lead generation). - **R&D focus** on AI-integrated solutions, smart displays, and industrial design. - **Digital India & Make in India** alignment supports regulatory access, incentives, and brand image. --- ### **Leadership & Governance** - **Mr. Roshan Jain (MD & Founder)**: B.Com (Hons.), 35+ years in electronics; drives overall strategy. - **Mr. Ankit Jain (CFO & ED)**: B.Tech (Electrical); leads finance, quality, and modernization. - **Mr. Anekant Jain (CEO, Operations)**: B.Tech (CS); focused on automation, lean practices. - **Mr. Rajeev Singh (VP Sales)**: Appointed Aug 2024; ex-Sansui, DishTV; expanding footprint in East & West India. --- ### **Key Risks & Strategic Shifts** - **Paused EV plans** (Oct 2025) to focus on core electronics and near-term growth vectors. - **Reliance on Chinese component imports** in current sourcing—partially mitigated by in-house plastic and metal fabrication. ---