Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 12 Oct - Infomerics upgraded long-term rating to IVR A+/Stable for ₹220 crore facilities; short-term ₹795 crore reaffirmed.
Source: Bse
Amir Chand Jagdish Kumar (Exports) Limited (AEROPLANE)
Small CapServices stocks · Small cap · NSE
Amir Chand Jagdish Kumar (Exports) Limited is among India's top three basmati rice producers and exporters, operating under the Aeroplane brand with an installed capacity of 550,800 MTPA. The company has integrated operations and has expanded into kitchen staples and FMCG.
Data qualityFresh enough for analysisQuote updated 04 Nov, 03:31 pm ISTDetails
Quote04 Nov, 03:31 pm IST
Base fundamentals01 Nov 2026 · screener
Official result overlay30 Sept 2026 · nse-xbrl
Latest result02 Nov, 06:24 pm IST
Score05 Nov, 04:30 am IST · v4.3-runtime-valuation
Tags20 Sept 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Services P/E 15.9 (n=146)
Technical timing lens
Trend score and candlestick chart
60BullishSMA20 +6.8% / mo · MACD − · near 52W high
Stock trend: 60
Sector RS: —
Services FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
AEROPLANED candles · FIT view+66.4%Latest close ₹222.57 on 2026-11-04
Daily history is available from 2026-04-02; the requested 1Y window is partially covered.
Bar
+1.9%
RSI
58
MACD hist
-0.29
52W pos
85%
2026-11-04O ₹218.45H ₹224.36L ₹216.11C ₹222.57Vol 4.9L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
AEROPLANENifty 500
- AEROPLANE
- +14.5%
- Nifty 500
- -4.0%
- Vs Nifty 500
- +18.5 pp
Chart stats
4 Nov 2026- From 52W high
- -8.0%
- 52W range position
- 85%
- ATR (14)
- 5.0%
- Volume vs 20D
- 0.47x
- Avg traded value
- ₹22.4 Cr
- 20D price channel
- ₹191.2 - ₹241.8
₹241.8
₹117 - ₹241.8
₹11.1
Latest completed session
20-session average
52.5% annualized volatility
No exact NSE sector index is mapped for this company. Nifty 500 remains the broad-market comparison.
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE55
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent80
Revenue +17.0% · PAT +24.5% YoY
Technical
Bullish60
Price trend and sector-relative-strength timing.
Valuation
Legacy model+27.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence68
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2026
Excellent · 80/100Rev +17% YoY · PAT +24% YoY · margin expansion · operating leverage
Filed 02 Nov 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹693.9 Cr | +17.0% | +4.5% |
| EBITDA | ₹73.9 Cr | +21.2% | +19.5% |
| Operating margin | 10.7% | +66 bps | +134 bps |
| PAT | ₹41.1 Cr | +24.5% | +12.2% |
| PAT margin | 5.9% | +36 bps | +40 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 17.04
- P/B
- —
- EV/EBITDA
- 12.10
- Market Cap
- 2255.78Cr
Profitability
- ROE
- 15.80%
- ROCE
- 15.70%
- ROA
- 5.85%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 16.00%
- EPS 5Y
- 49.00%
- Revenue 3Y
- 20.00%
- EPS 3Y
- 83.00%
Balance Sheet
- Debt/Equity
- 0.82
- Interest Coverage
- 3.12×
- Altman Z
- 3.40
- Book Value
- —
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 4/5
- OCF
- -166.00 Cr
- EPS TTM
- 12.78
Shareholding
- Promoter Hold
- 78.78%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 81%
Financial History
Updated 4/11/2026
Revenue
₹ CrLatest: 694+4.6% vs prev
Net Profit
₹ CrLatest: 41.1+12.1% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bullish setupTrend is constructive — long-term trend unclear. RSI 58.
- SMA20 rising (~6.3% over last month) — short-term momentum positive.
- RSI(14) at 58 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 8% off 52W high · 90% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
93
RS percentile
Insufficient history
1M return
+3.2%
3M return
+27.1%
6M return
+71.0%
1Y return
-
RS 1D
0
RS 20D
-
Sector rank
#12
Industry rank
#35
Stage evidence
- At least 170 daily sessions are required for the trend-stage read.
50-DMA
price above
200-DMA
unavailable
Sector
neutral
Industry
improving
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
133 observations
03 Nov 2026Value 112.57-1.19%
RS vs Nifty 500113
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
FAIR_VALUE
Fundamental score breakdown
U band · FAIR VALUEValuation10/30
Growth20/25
Quality13/20
Balance Sheet6/15
Cash Flow3/10
Piotroski
5/9 (+3)
Penalties
0
Raw sum
55
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
55/100 · legacy band FAIR VALUE
Positive drivers
- Fair-value margin of safety is positive at 27.2%.
- Growth contributes 20/25 to the score.
- Quality contributes 13/20 to the score.
Main drags
- Cash flow is weaker at 3/10; verify the latest quarterly trend.
- Valuation is weaker at 10/30; verify the latest quarterly trend.
- Balance sheet is weaker at 6/15; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
17.0
PB
—
EV/EBITDA
12.1
ROE
15.8%
ROCE
15.7%
FCF Yield
—
Debt/Equity
0.8
MoS
+27.2%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 05 Nov 2026
v4.3-runtime-valuation
Final score
55
Previous: 55
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+27.2%
Previous: +27.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
05 Nov 2026
v4.3-runtime-valuation
58
55
57
57
56
56
56
56
55
55
55
55
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
—
Growth-justified P/E
23.9
Growth-justified Value
₹305.7
+27.2% MoS
PEG
0.27
Comparable companies
Peers
Business-comparable peers in Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ALLCARGO
Small
Allcargo Logistics Limited
Logistics
match 91
17
28.2
0.9%
-3677%
OVERVALUED
ACCURACY
Small
Accuracy Shipping Limited
Logistics
match 90
23
14.9
3.2%
-407%
OVERVALUED
AVG
Small
AVG Logistics Limited
Logistics
match 89
52
24.0
10.2%
+54%
FAIR VALUE
JETFREIGHT
Small
Jet Freight Logistics Limited
Logistics
match 88
51
10.4
10.0%
+59%
FAIR VALUE
GICL
Small
Globe International Carriers Limited
Logistics
match 85
52
33.2
14.6%
-35%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-25T01:10:25.568Z
Management commentary snapshot
Q1 FY27 revenue grew 55.1% YoY to Rs. 663.7 Cr and PAT surged 127.6% YoY to Rs. 36.6 Cr, driven by strong top-line performance and lower finance costs, despite a slight moderation in EBITDA margin to 9.3%.
The investment thesis remains intact as the company delivered robust revenue growth and substantial profit expansion in Q1 FY27. Integration across the value chain, expansion into higher-margin FMCG staples, and strong brand recall support ongoing performance, though working capital intensity and debt levels require monitoring.
Current business mix
Revenue by segment
Latest issuer-disclosed distribution across 2 reported categories.
Rice Segment99.0%
FMCG Segment1.0%
Growth engines
FMCG Staples Diversification
ActiveExpanded beyond rice into 8 kitchen staple categories under the Aeroplane brand, including atta, besan, sugar, salt, sooji, and maida.
Tier 3 & Tier 4 Market Penetration
ActiveGrowth strategy anchored in expanding distribution footprint to Tier 3 and Tier 4 cities and scaling the distributor network to 700+ by FY28.
Global Distribution Network
ActiveStrong global footprint extending to 38 countries supported by 53 international distributors and repeat export orders from the Middle East.
Tailwinds
Rising Demand for Packaged Foods
FavorableConsumer shift toward branded, quality food products, growing urbanization, and rising income levels in domestic and international markets.
Export Market Leadership
FavorableIndia is the largest exporter of rice globally with 40% export share, and strong basmati demand from Middle Eastern destinations.
Headwinds
Weather and Agricultural Dependency
UnfavorableRice cultivation and yields remain susceptible to changes in weather patterns and government interventions.
Risk radar
Working Capital Intensity
ElevatedSubstantial inventory holding (Rs. 1,039.5 Cr in FY26) and working capital swings resulting in negative cash flows from operating activities in FY26.
High Short-Term Borrowings
ElevatedCurrent borrowings stood at Rs. 757.4 Cr in FY26, leading to sizeable finance costs.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Both YoY and QoQ comparisons are necessary. YoY best reflects annual business growth and seasonal procurement cycles in the basmati industry, while QoQ captures sequential margin movements, sequential revenue trends, and working capital management.
Sector KPIs management disclosed
Installed Manufacturing Capacity
StableInstalled capacity of ~550,800 MTPA as of FY26 across units in Punjab and Haryana.
Capacity Utilization
StableCapacity utilization was ~61% as of FY26.
Rice Storage Capacity
StableRice storage capacity stands at 1,50,000 MT.
Paddy Storage Capacity
StablePaddy storage capacity stands at 1,40,000 MT.
Management forward view
Brand and Distribution Focus
PositiveManagement aims to scale the distributor network to 700+ by FY28 and deepen presence across general trade, modern trade, and e-commerce.
Operating Leverage Potential
PositiveManagement highlights that utilizing existing capacity (currently ~61%) will drive volume-led growth, cost efficiencies, and better fixed cost absorption.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Capacity Utilization | ~61% | Improvement toward higher utilization levels to drive operating leverage |
| Working Capital & Debt | Rs. 757.4 Cr current borrowings in FY26 | Management of inventory levels and reduction in borrowing dependence |
| FMCG Segment Traction | Diversification across 8 staple categories | Contribution of non-rice FMCG revenue to overall top-line growth |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
68Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 55th percentile of the scored universe and 63rd percentile within Services. Main check: cash conversion is weak at 52/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
10 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
55th percentile
overall median 67 · Services: 63rd pctile, median 66 · Small: 60th pctile, median 66
Evidence depth
Financial-only
10 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
52
watch · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
76
strong · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 78.8%.
- ▸Promoter pledge is zero.
- ▸4 years of positive FCF.
Trust risks
- ▸Operating cash flow is negative at ₹-166 Cr.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Amir Chand Jagdish Kumar (Exports) Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Acquisition 24 Sep - On Sept. 24, 2026, remitted USD26,630 to subscribe Saudi WOS share capital.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Sep - Company to meet institutional investors at Arihant Bharat Connect on 28 September 2026.
Source: Bse
Annual reportSep 2026
Sep 2026 · Letter To Members 7 Sep - 23rd AGM on 29 Sep 2026 via VC/OAVM; annual report link shared.
Source: Bse
Annual reportSep 2026
Sep 2026 · Integrated Annual Report For The Financial Year 2025-26 Including Notice Of The 23Rd Annual General Meeting Of The Company 7 Sep - Integrated Annual Report FY2025-26 and AGM on September 29, 2026; record date September 22, e-voting September 26-28.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Sep - Amir Chand Jagdish Kumar (Exports) Limited has informed about copy of newspaper publication of Notice of 23rd Annual General Meeting and e-voting information.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Change in Management 4 Sep - Board approved appointment of Shubham Garg & Associates as secretarial auditors for FY27-FY31, subject to shareholder approval.
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Announcement
Announcement Under Regulation 30 Of SEBI LODR Regarding Re-Appointment Of Independent Directors 8 Jul - Board approved re-appointment of Gauri Shankar and Rajni as independent directors for five-year terms.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Change in Directorate 8 Jul - Board approved reappointment of Gauri Shankar and Rajni as independent directors for five-year terms.
Source: Bse
Announcement
Announcement Under Regulation 30 (LODR) - Clarification Of Price Movement Sought By Stock Exchange 6 Jul - Company clarifies share price movement is market-driven, with no additional information to disclose.
Source: Bse
Announcement
Announcement Under Regulation 30 Of SEBI LODR 16 Jun - Al Tasnim Group will distribute Aeroplane Rice products in Oman.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.