Affordable Robotic & Automation Limited (AFFORDABLE)
₹168.68 +1.94% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Affordable Robotic's revenue was ₹11.1 Cr (-40.9% year on year, -78.2% on the previous quarter), and net profit ₹-4.8 Cr (a bigger loss than a year earlier); the operating margin was -29.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹11.1 | -40.9% | -78.2% |
| Operating profit | ₹-3.3 | loss widened | to loss |
| Net profit | ₹-4.8 | loss widened | to loss |
| EPS (₹) | -4.05 | loss widened | to loss |
| Operating margin | -29.6% | — | — |
AFFORDABLE delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 87.32% of the AFFORDABLE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 63.72%. That is higher than usual for this stock. Turnover was only ₹49 lakh, so a handful of trades can move this figure. It closed at a price band (circuit) on 2 sessions in about the last 20.
Delivery in the last 5 sessions: 73.9% · 49.6% · 73.3% · 62.0% · 87.3%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Affordable Robotic & Automation Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by MUFG Intime India Private Limited, the company's Registrar and Share Transfer Agent. The filing confirms that security certificates received for dematerialisation during the period were properly processed, verified, and cancelled as mandated. This is a purely procedural regulatory submission with zero financial or operational impact.
- Compliance certificate filed under Regulation 74(5) for the quarter ended September 30, 2026
- Certificate issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited
- RTA confirmation dated October 06, 2026, and submitted to exchanges on October 08, 2026
- Confirms timely dematerialisation, verification, and cancellation of physical certificates
Affordable Robotic & Automation Limited announced the voting results of its 17th Annual General Meeting held on September 30, 2026. All 7 resolutions were approved by shareholders with over 99.99% votes in favor, including the adoption of FY26 standalone and consolidated financial statements. Special resolutions were passed to terminate the ESOP Scheme 2021 and approve the implementation and extension of the new ESOP Scheme 2026 across group companies. A total of 5,802,621 votes were polled across 11,916 shareholders on the record date, representing 48.96% of total outstanding shares.
- All 7 resolutions passed with 99.994% of votes cast in favor (5,802,270 votes in favor vs 351 against)
- Total votes polled stood at 5,802,621, representing 48.9627% of total outstanding shares
- Shareholders approved termination of ESOP Scheme 2021 and introduced ESOP Scheme 2026
- Participation included 40 shareholders attending in person/proxy (7 promoter, 33 public) out of 11,916 total shareholders on record date September 23, 2026
Affordable Robotic & Automation Limited concluded its 17th AGM on September 30, 2026, where members transacted ordinary items and approved the implementation of ESOP Scheme 2026. The accompanying management presentation disclosed an order book of Rs 171.13 Cr as of September 29, 2026, comprising Rs 63.52 Cr of new bookings added during FY27 so far. Additionally, its autonomous robotics subsidiary ARAPL Raas (Humro) secured a Rs 48 Cr strategic investment and plans to commission its 3rd manufacturing plant in November 2026. The company turned profitable in FY26 with a consolidated EBITDA of Rs 17.16 Cr (14.2% margin) and PAT of Rs 6.97 Cr.
- Confirmed order book stood at Rs 171.13 Cr as of September 29, 2026, including Rs 63.52 Cr added in the current fiscal year
- Humro subsidiary signed a strategic investment of Rs 48 Cr and is opening its 3rd manufacturing plant in November 2026
- Consolidated FY26 turnaround delivered EBITDA of Rs 17.16 Cr (vs loss of Rs 2.33 Cr in FY25) and PAT of Rs 6.97 Cr
- Approved termination of ESOP Scheme 2021 and implemented ESOP Scheme 2026 extended to group entities
Affordable Robotic & Automation Limited has allotted 10,93,750 fully convertible warrants and converted 8,20,000 warrants into equity shares for promoter Mr. Milind Manohar Padole at ₹192 per share/warrant. The transaction converts existing outstanding unsecured loans into equity, representing approximately ₹15.74 crore in equity allotment and total warrant consideration of ₹21.00 crore. As a result, the company's paid-up equity share capital increases from ₹11.85 crore (1,18,51,105 shares) to ₹12.67 crore (1,26,71,105 shares). The conversion price of ₹192 represents a premium to the current market price of ₹178.2.
- Allotted 10,93,750 Fully Convertible Warrants at an issue price of ₹192 per warrant (face value ₹10, premium ₹182).
- Converted 8,20,000 warrants into 8,20,000 equity shares at ₹192 each by setting off outstanding unsecured promoter loans.
- Paid-up equity share capital expanded from ₹11,85,11,050 to ₹12,67,11,050 (1,26,71,105 equity shares).
- Conversion price of ₹192 is at a ~7.7% premium relative to the recent market price of ₹178.2.
Affordable Robotic & Automation Limited (ARAPL) has secured a domestic turnkey project order valued at approximately ₹11.06 Cr for the supply of a robotic welding line. The contract represents roughly 10.8% of the company's TTM revenue of ₹102 Cr, strengthening its domestic execution pipeline. The scope requires material delivery by March 2027, spanning across approximately 6 months. The client name was withheld due to confidentiality, and the transaction involves no promoter interest or related-party exposure.
- Received purchase order valued at approx. ₹ 11,05,83,735/-
- Scope involves turnkey supply of a domestic robotic welding line
- Delivery timeline scheduled for completion by March 2027
- Order size constitutes ~10.8% of ARAPL's TTM revenue of ₹102 Cr
Affordable Robotic & Automation Limited has secured two turnkey domestic purchase orders for robotic welding lines worth ₹3.81 Cr and ₹6.21 Cr, totaling approx. ₹10.02 Cr. This cumulative order intake represents roughly 9.8% of the company's TTM revenue of ₹102 Cr. Both projects are scheduled to be delivered by December 2026. The awards are from undisclosed domestic entities in the ordinary course of business with no promoter interest.
- Received two turnkey domestic orders totaling approx. ₹10.02 Cr (Order 1: ₹3,81,31,348; Order 2: ₹6,21,05,000)
- Total order value equals approximately 9.8% of ARAPL's TTM revenue of ₹102 Cr
- Material delivery for both orders is slated for completion by December 2026
- Customer names withheld due to confidentiality, but confirmed to be non-related domestic entities
Affordable Robotic & Automation Limited has issued the notice for its 17th Annual General Meeting scheduled for September 30, 2026. Key special business items include the termination of its ESOP Scheme 2021 following the surrender of outstanding options and the implementation of a new ESOP Scheme 2026 comprising up to 1,50,000 equity options. The remote e-voting window runs from September 27 to September 29, 2026. The proposed ESOP pool represents roughly 1.4% of the company's equity base, implying minimal potential dilution.
- 17th Annual General Meeting to be held on Wednesday, September 30, 2026, at 11:00 AM IST in Pune.
- Proposed termination and extinguishment of surrendered options under the ESOP Scheme 2021.
- Introduction of ESOP Scheme 2026 with an option pool of up to 1,50,000 equity shares of face value INR 10 each.
- Remote e-voting period opens September 27, 2026 (9:00 AM IST) and closes September 29, 2026 (5:00 PM IST).
Affordable Robotic & Automation Limited has secured a domestic turnkey purchase order worth approximately ₹13.66 Cr for the supply of a robotic welding line. This single contract represents about 13.4% of the company's TTM revenue of ₹102 Cr, offering substantial revenue visibility. The contract is slated for quick execution, with delivery scheduled by December 2026. The awarding domestic client's identity was not disclosed due to confidentiality.
- Received a domestic turnkey purchase order valued at approx. ₹13,66,33,424
- Order equals ~13.4% of the company's TTM revenue of ₹102 Cr
- Contract entails the supply of a robotic welding line
- Material delivery is scheduled to be completed by December 2026
- Order awarded by a domestic entity with no promoter or related party interest
Affordable Robotic & Automation's Board has approved the termination of its ESOP Scheme 2021 following voluntary surrender by option holders. The Board also approved a fresh ESOP Scheme 2026 for granting up to 1,50,000 stock options (convertible into 1,50,000 equity shares of Rs 10 face value) over a 5-year period. The new scheme will be implemented via direct issue of shares and is subject to shareholder approval at the ensuing 17th AGM. In addition, the Board approved the FY26 Annual Report and the notice for the upcoming AGM.
- Approved ESOP Scheme 2026 covering up to 1,50,000 options convertible into 1,50,000 equity shares of Rs 10 each
- Options to be granted over a 5-year period, with exercise tenure between 1 to 3 years from vesting
- Terminated ESOP Scheme 2021 upon voluntary and irrevocable surrender by option holders
- Approved Notice convening the 17th Annual General Meeting (AGM) and FY26 Annual Report
Affordable Robotic & Automation has issued an update to its July 20, 2026 Postal Ballot Notice following observations from the NSE. The revised shareholding pattern reflects the impact of 10,93,750 warrants to be allotted to promoter Milind Padole on a fully diluted basis. Post-conversion over up to 18 months and accounting for 8,726 ESOPs, the total share base will expand to 1,29,53,581 equity shares. Consequently, total promoter holding will increase from 41.41% (49,07,834 shares) to 46.33% (60,01,584 shares).
- Warrants to be allotted: 10,93,750 warrants to promoter Milind Padole
- Post-issue promoter holding increases to 46.33% (60,01,584 shares) from 41.41% pre-issue
- Proposed allottee Milind Padole's holding to rise from 27.74% to 33.82% post-conversion
- Fully diluted post-issue equity base expands to 1,29,53,581 shares (including 8,726 outstanding ESOPs)
- Revision made in compliance with NSE observation letter dated August 21, 2026
Affordable Robotic & Automation Limited has submitted the voting results along with the Scrutinizer's Report for resolutions put to vote via Postal Ballot. In accordance with SEBI LODR Regulation 44(3), the company confirmed that the postal ballot resolutions have been approved by shareholders. The resolutions are deemed to have been passed on August 19, 2026, marking the close of the voting period.
- Submitted Scrutinizer's Report dated August 20, 2026, under Regulation 44(3) of SEBI LODR.
- Resolutions set out in the Postal Ballot notice were deemed approved and passed on August 19, 2026.
- Remote e-voting facility was provided to shareholders in compliance with Section 110 of the Companies Act, 2013.
Affordable Robotic & Automation Limited (ARAPL) reported a weak Q1 FY27 with consolidated revenue declining 41% YoY to ₹11.09 Cr, leading to a net loss of ₹4.80 Cr. Management attributed the decline to ₹13 Cr in dispatches shifting from Q1 to Q2 due to project phasing. Offsetting the poor quarterly performance, the company reported a robust order book of ₹149 Cr (approx. 135% of TTM revenue) and a strategic ₹48 Cr investment into its Humro subsidiary, with ₹24 Cr already received.
- Confirmed order book reached ₹149 Cr as of August 2026, providing visibility for the remainder of FY27.
- Secured ₹48 Cr strategic investment for ARAPL RaaS (Humro), with the first tranche of ₹24 Cr already received.
- New orders worth ₹22 Cr were booked between June 2026 and August 13, 2026.
- Consolidated revenue fell to ₹11.09 Cr from ₹18.87 Cr YoY, primarily due to ₹13 Cr in delayed billing.
- Deployed 16 robots to date, with an additional 8 units currently in Proof of Concept (POC) trials.
Affordable Robotic & Automation Limited (ARAPL) reported a weak start to FY27, with consolidated revenue falling 41.2% YoY to Rs 11.09 Cr. The company posted a net loss of Rs 4.80 Cr, widening from a loss of Rs 3.69 Cr in the same quarter last year. Sequentially, the performance saw a massive drop from the Rs 52.58 Cr revenue and Rs 4.78 Cr profit recorded in Q4 FY26. Additionally, the company converted a Rs 16.00 Cr loan into equity in its subsidiary, ARAPL Raas Private Limited, bringing its stake to 78.83%.
- Consolidated revenue from operations fell to Rs 11.09 Cr in Q1 FY27 from Rs 18.87 Cr in Q1 FY26.
- Net loss for the quarter widened to Rs 4.80 Cr compared to a loss of Rs 3.69 Cr in the year-ago period.
- Total expenses of Rs 15.89 Cr exceeded total income of Rs 11.09 Cr, driven by high employee costs of Rs 4.22 Cr.
- Converted a loan of Rs 16,00,07,600 into 4,748 equity shares of subsidiary ARAPL Raas Private Limited.
- Standalone revenue also saw a sharp decline to Rs 9.12 Cr from Rs 18.82 Cr YoY.
Affordable Robotic & Automation Ltd (ARAPL) has approved the issuance of 10.94 lakh fully convertible warrants to its Promoter, Mr. Milind Padole, at ₹192 per warrant. This ₹21 crore transaction is a conversion of an existing unsecured loan provided by the promoter into equity-linked capital, effectively deleveraging the company. Upon conversion, the promoter stake will increase from 41.41% to approximately 46.36%. This move strengthens the balance sheet by reducing debt obligations without immediate cash outflow, improving the company's financial flexibility for its automation expansion plans.
- Issuance of 10.94 lakh fully convertible warrants at a price of ₹192 per warrant.
- Total transaction value of ₹21 crore to be adjusted against an outstanding promoter loan.
- Promoter group shareholding to increase by 4.95% to approximately 46.36% on a fully diluted basis.
- Debt reduction of ₹21 crore represents approximately 39.6% of the company's total debt of ₹53 crore.
- Issue price of ₹192 is at a slight premium to the current market price of ₹187.2.
Affordable Robotic & Automation Limited (ARAPL) has issued a postal ballot notice seeking shareholder approval for three key items. The primary resolution involves issuing fully convertible warrants worth up to ₹21 Cr to promoters by converting existing loans into equity. This move aims to deleverage the balance sheet, as the amount represents approximately 39.6% of the company's current debt of ₹53 Cr. Additionally, the company is seeking approval for material related party transactions for FY 2026-27 with its subsidiary ARAPL Raas and the promoters to support ongoing business operations.
- Proposed issuance of fully convertible warrants up to ₹21,00,00,000 (₹21 Cr) to the promoter category.
- Warrants are being issued specifically upon the conversion of existing loans into equity.
- The fundraise amount of ₹21 Cr is equivalent to ~9.7% of the company's current market capitalization of ₹216 Cr.
- E-voting period is scheduled from July 21, 2026, to August 19, 2026, with results by August 21, 2026.
- Approval sought for material Related Party Transactions (RPT) with subsidiary ARAPL Raas Private Limited for FY 2026-27.
Financial Performance
Revenue Growth by Segment
Standalone revenue grew 7.00% YoY to reach INR 160.69 Cr in FY25, up from INR 150.18 Cr. In H1 FY26, standalone income reached INR 44.58 Cr compared to INR 41.46 Cr in H1 FY25. The company operates in three segments: Welding Automation, Car Parking, and Warehouse Automation (Humro), with the latter providing additional RaaS revenue of INR 2-3 Cr in H1 FY26.
Geographic Revenue Split
The first two verticals (Welding Automation and Car Parking) are 100% domestic (India), while the third vertical (Warehouse Automation) is 100% export-oriented, primarily targeting the US market with future plans for Europe and Brazil.
Profitability Margins
Gross margins vary significantly by segment: Automation at ~35%, Car Parking at 20-25%, and the Warehouse vertical at 40-50%. Standalone Net Profit Margin was 3.73% in FY25, a slight decrease from 4.04% in FY24 due to a 3.45% increase in production costs. However, Q2 FY26 saw a major turnaround with a PAT margin of 16%.
EBITDA Margin
Standalone EBITDA margin for FY25 was 8.96% (INR 14.39 Cr). The company achieved a significant profit turnaround in Q2 FY26, with EBITDA margins reaching 23% (INR 5.96 Cr) compared to a negative margin in Q2 FY25, driven by cost optimization and design re-engineering.
Capital Expenditure
The company is executing an INR 80 Cr investment in its subsidiary. This includes INR 8-9 Cr for product sharpening/development, INR 24-25 Cr for inventory, and the remainder for customer acquisition and marketing in the US and India.
Credit Rating & Borrowing
The Debt-Equity ratio stood at 0.50 in FY25, a 14% increase from 0.44 in FY24. This increase supports the company's growth and working capital requirements as it scales its international operations.
Operational Drivers
Raw Materials
Raw materials and direct costs represent 68.95% of total revenue as of FY25. Specific materials include steel, electronic components for automation, and welding equipment, though individual % splits per material are not disclosed.
Import Sources
Not specifically disclosed, though the company is actively re-engineering products to use different materials to reduce primary cost factors.
Capacity Expansion
The company has an order book of INR 140 Cr as of September 2025 to be delivered by the end of FY26. Expansion is focused on the US market through the Humro subsidiary to reach a billion-dollar valuation target within 4-5 years.
Raw Material Costs
Raw material and direct costs increased by 3.45% to 68.95% of revenue in FY25. To mitigate this, the management is focusing on design optimization and cost negotiations to improve gross margins.
Manufacturing Efficiency
The company is focusing on 'design optimization' and 'material re-engineering' to reduce the primary cost factors of its automation products, which led to the EBITDA turnaround in H1 FY26.
Strategic Growth
Expected Growth Rate
20%
Growth Strategy
The company aims for a billion-dollar valuation in 4-5 years by focusing on the high-margin (40-50%) warehouse automation export market, investing INR 80 Cr in US customer acquisition, and maintaining a robust domestic order book of INR 140 Cr.
Products & Services
Welding automation systems, automated car parking solutions, and warehouse automation robots (Humro) including Robotics-as-a-Service (RaaS).
Brand Portfolio
ARAPL, Humro.
New Products/Services
Expansion of the 'Humro' product line in the US and introduction of Robotics-as-a-Service (RaaS), which contributed INR 2-3 Cr in H1 FY26.
Market Expansion
Targeting the US market for warehouse automation, with subsequent plans to explore Europe and Brazil once US revenue reaches a critical threshold.
External Factors
Industry Trends
The industry is shifting toward high-efficiency warehouse robotics and automated urban parking. ARAPL is positioning itself as a high-margin product company rather than just a service provider to capture this shift.
Competitive Landscape
Competes in the specialized automation space; key advantage is the ability to offer both domestic welding/parking solutions and high-tech export robots.
Competitive Moat
Moat is built on deep integration with automotive OEMs (Tata, Mahindra) and high-margin proprietary technology in the Humro vertical. Sustainability is driven by the shift from 20% customization to standardized high-margin products.
Macro Economic Sensitivity
The business is highly sensitive to the real estate cycle (for car parking) and industrial CAPEX cycles (for welding automation).
Consumer Behavior
Increasing demand for automated parking in Indian 'Smart Cities' and real estate projects (Lodha, Rustamji) is driving the domestic order book.
Geopolitical Risks
Expansion into the US and potentially Europe/Brazil makes the company sensitive to international trade relations and local regulatory standards for robotics.
Regulatory & Governance
Industry Regulations
Operations comply with Indian accounting principles and general corporate governance; the US subsidiary must adhere to US OPEX and marketing regulations.
Environmental Compliance
The company has established a Risk Management and Sustainability Committee to oversee ESG and operational risks.
Taxation Policy Impact
Tax expense for FY25 was INR 2.23 Cr, including deferred tax charges.
Legal Contingencies
The company maintains internal control systems to prevent fraud and errors; no specific pending litigation values were disclosed in the provided documents.
Risk Analysis
Key Uncertainties
The primary uncertainty is the successful scaling of the US subsidiary, where INR 80 Cr is being deployed. Failure to acquire customers at the expected rate could impact consolidated profitability.
Geographic Concentration Risk
Domestic revenue is concentrated in India, while the growth vertical is heavily concentrated on the US market.
Third Party Dependencies
Dependency on repeat automotive and real estate clients like Tata, Mahindra, and Lodha for the majority of the current standalone order book.
Technology Obsolescence Risk
The company mitigates technology risk through continuous 'product sharpening' and an INR 8-9 Cr R&D-focused investment in the warehouse vertical.
Credit & Counterparty Risk
High credit risk indicated by 193 days of sales tied up in trade receivables (INR 85.13 Cr), which could lead to cash flow constraints.
