Arrow Greentech Limited (ARROWGREEN)
₹805.75 -1.72% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Arrow Greentech's revenue was ₹87.8 Cr (+111.2% year on year, +110.2% on the previous quarter), and net profit ₹27.4 Cr (+151.2% year on year); the operating margin was 40.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹87.8 | +111.2% | +110.2% |
| Operating profit | ₹35.9 | +152.1% | +246.5% |
| Net profit | ₹27.4 | +151.2% | +268.7% |
| EPS (₹) | 18.15 | +151.4% | +270.4% |
| Operating margin | 40.9% | — | — |
ARROWGREEN delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 57.67% of the ARROWGREEN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 51.02%. The price fell 1.72% on that unusually high delivery, the pattern the delivery dashboard labels distribution. Volume was 0.4 times its average, well below normal.
Delivery in the last 5 sessions: 48.3% · 44.1% · 50.4% · 48.7% · 57.7%
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
Arrow Greentech Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by its Registrar and Share Transfer Agent, MUFG Intime India Private Limited. The RTA confirmed that no requests for dematerialisation or rematerialisation were received during the period. This is a standard quarterly administrative filing with no financial or operational impact.
- Compliance certificate submitted for the quarter ended September 30, 2026
- Issued by RTA MUFG Intime India Private Limited on October 6, 2026
- Zero requests received for dematerialisation or rematerialisation during the quarter
- Filing submitted to BSE and NSE on October 13, 2026
Arrow Greentech has been granted a patent by the Republic of Singapore titled 'Security Laminates to Secure Documents and Method of Manufacturing the Same'. The patent (Patent No. 11202252919H) was granted on 31 August 2026, stemming from a filing dated 12 March 2021 with Indian priority data from 12 March 2020. This strengthens the company's high-tech security portfolio, supporting its strategy to monetize and expand security laminates internationally beyond its existing base of 27 granted patents.
- Patent No. 11202252919H granted by the Republic of Singapore under Section 35 of The Patents Act 1994
- Patent granted on 31 August 2026, officially communicated to exchanges on 21 September 2026
- Application was filed on 12 March 2021, based on Indian priority application date of 12 March 2020
- Covers security laminates used to secure documents and their manufacturing method
Arrow Greentech Limited announced the voting results and Scrutinizer's Report for its 34th Annual General Meeting held on September 18, 2026. Shareholders approved all 8 ordinary resolutions, including the adoption of FY26 financial accounts, declaration of dividend, and appointment of KNAV and Co. LLP as statutory auditors. Crucially, ordinary resolutions approving remuneration revisions for CMD Shilpan Patel and Jt. MD Neil Patel, as well as a material Related Party Transaction (Resolution 8), passed with over 99.5% votes in favor among voting participants, with promoters abstaining from voting on the related party item as required.
- All 8 resolutions passed during the 34th AGM held on September 18, 2026
- Material Related Party Transaction (Resolution 8) approved with 99.56% of polled votes in favor (903,892 votes in favor vs 4,002 against), with promoter votes abstaining
- Remuneration revisions for CMD Shilpan Patel and Jt. MD Neil Patel approved with over 99.6% and 99.9% support respectively
- Total voter turnout for general resolutions stood at 69.93% (10,550,572 votes polled out of 15,087,938 shares)
Arrow Greentech Limited announced that shareholders approved the appointment of M/s KNAV & Co. LLP as Statutory Auditors at the 34th AGM held on September 18, 2026. The appointment is for a term of five consecutive years, running from the conclusion of the 34th AGM until the 39th AGM. The previous auditor, M/s Haribhakti & Co. LLP, completed their second term. KNAV & Co. LLP brings over 26 years of existence and holds a Clean Peer Review Report valid until August 31, 2027.
- Appointment of M/s KNAV & Co. LLP as Statutory Auditors for a 5 consecutive year term
- Approval granted at the 34th Annual General Meeting held on September 18, 2026
- Outgoing auditors M/s Haribhakti & Co. LLP completed their second term
- Incoming firm holds Level IV firm rating in AQMM 1.0 review and peer review valid up to August 31, 2027
Arrow Greentech Limited concluded its 34th Annual General Meeting on September 18, 2026, conducted via video conferencing. Key resolutions presented to shareholders included the adoption of FY26 financial statements, dividend declaration, and the appointment of KNAV & Co. LLP as statutory auditors. Additionally, special business items covered revisions in remuneration for Chairman & MD Shilpan Patel and Jt. MD Neil Patel, alongside approval for a material related-party transaction. Scrutinizer voting results will be submitted to exchanges within two working days.
- 34th Annual General Meeting concluded on September 18, 2026, running from 3:00 PM to 3:41 PM
- Remote e-voting window was active from 9:00 AM on September 15 to 5:00 PM on September 17, 2026
- Presented 8 resolutions including approval of FY26 accounts, dividend, auditor appointment, and material related-party transactions
- Final voting tallies and Scrutinizer's report to be published within 2 working days
Arrow Greentech Limited has scheduled a one-on-one analyst/institutional investor meeting for Tuesday, September 22, 2026. The interaction is slated between 03:00 PM and 05:00 PM IST. According to the company, discussions will be restricted to publicly available information without any unpublished price-sensitive disclosures. This is a routine investor interaction filing under Regulation 30 of SEBI LODR Regulations.
- Meeting scheduled for Tuesday, September 22, 2026
- Time window set from 03:00 PM to 05:00 PM IST
- Format of interaction is designated as One on One
- Discussions strictly limited to publicly available information
Arrow Greentech Limited has informed the exchanges of an upcoming interaction with analysts and investors scheduled for Wednesday, September 2, 2026. The meeting will be held in a one-on-one format between 03:00 PM and 04:00 PM IST. The company confirmed that all discussions will strictly rely on publicly available information without sharing unpublished price-sensitive data.
- One-on-one analyst/investor meeting scheduled for Wednesday, September 2, 2026
- Interaction window fixed from 03:00 PM to 04:00 PM IST
- Company clarified that discussions will be based entirely on publicly available information
Arrow Greentech Limited has scheduled a one-on-one interaction with an analyst/institutional investor on Wednesday, September 2, 2026, between 3:00 PM and 4:00 PM IST. The meeting will focus on discussions based strictly on publicly available information. No material non-public financial information or strategic developments are slated to be disclosed during the session.
- One-on-one Analyst/Investor meeting scheduled for September 2, 2026
- Interaction time window fixed from 03:00 PM to 04:00 PM IST
- Discussions to remain limited strictly to publicly available information
Arrow Greentech Limited has released its Annual Report for FY2025-26 and convened its 34th Annual General Meeting (AGM) for September 18, 2026. Consolidated revenue for FY26 moderated to Rs 200.5 crore (Rs 2,005 million) from Rs 243.4 crore in FY25, while consolidated PAT was Rs 47.4 crore with a 24% PAT margin. The Board has recommended a dividend of Rs 5 per share. Meanwhile, the green products segment grew 52% YoY to Rs 36.9 crore (Rs 369 million), supported by land acquisition at Dahej-II for future scaling.
- 34th AGM scheduled for Friday, September 18, 2026 via Video Conferencing.
- Board recommended a final dividend of Rs 5 per share for FY26.
- FY26 consolidated revenue stood at Rs 200.5 crore compared to Rs 243.4 crore in FY25.
- Consolidated PAT recorded at Rs 47.4 crore with consolidated EPS of Rs 31.38.
- Green products revenue increased 52% YoY to Rs 36.9 crore (Rs 369 million).
Arrow Greentech Limited has fixed Tuesday, September 15, 2026, as the Record Date for determining shareholder eligibility for the FY26 final dividend. The dividend payment is subject to member approval at the 34th Annual General Meeting (AGM) scheduled for September 18, 2026. The specific dividend per share amount was not disclosed in this filing.
- Record date fixed as Tuesday, September 15, 2026
- 34th Annual General Meeting scheduled for Friday, September 18, 2026
- Final dividend for FY 2025-26 subject to shareholder approval at the AGM
Arrow Greentech Limited has issued the notice for its 34th Annual General Meeting scheduled for September 18, 2026 via video conferencing. Key resolutions include the appointment of KNAV & Co. LLP as statutory auditors for a 5-year term and revisions to executive director remunerations effective July 1, 2026. Additionally, the company is seeking approval for material related-party transactions (RPT) amounting to ₹70 Crore for FY27, representing approximately 32% of TTM revenue (₹219 Crore). Remote e-voting runs from September 15 to September 17, 2026, with a cut-off date of September 11, 2026.
- 34th Annual General Meeting scheduled for September 18, 2026, via Video Conferencing.
- Seeking shareholder approval for material related-party transactions up to ₹70 Crore for FY27 (33% of FY26 turnover).
- Appointment of KNAV & Co. LLP as Statutory Auditors for a 5-year tenure (34th AGM to 39th AGM).
- Revision in remuneration terms for CMD Mr. Shilpan P Patel and Jt. MD Mr. Neil S Patel effective July 1, 2026.
- Remote e-voting window active from September 15 to September 17, 2026, with cut-off date of September 11, 2026.
Arrow Greentech released its Q1 FY27 business performance presentation, reporting a 110.2% QoQ and 111.2% YoY surge in Revenue from Operations to ₹87.8 crore (₹878 Mn). Profit After Tax (PAT) grew 268.7% QoQ and 151.2% YoY to ₹27.4 crore, expanding PAT margins to 30.5% and quarterly EPS to ₹18.15. Growth was heavily driven by the High-Tech Product segment, which expanded 135% QoQ to ₹81.6 crore, while Green Products contracted 12% QoQ to ₹6.3 crore.
- Revenue from Operations rose 110.2% QoQ and 111.2% YoY to ₹87.8 crore (₹878 Mn)
- EBITDA increased 246.5% QoQ to ₹35.9 crore with an EBITDA margin of 40.9% (+1,610 bps QoQ)
- PAT surged 268.7% QoQ to ₹27.4 crore with a 30.5% margin and EPS of ₹18.15
- High-Tech Product segment revenue reached ₹81.6 crore (up 135% QoQ / 137% YoY), accounting for ~93% of revenue
- Green Products segment revenue declined 12% QoQ to ₹6.3 crore
Arrow Greentech reported a massive surge in Q1 FY27 performance, with revenue growing 111.2% YoY to Rs 87.8 Cr. Profit After Tax (PAT) jumped 151.2% YoY to Rs 27.4 Cr, driven by a 135% QoQ growth in the High-Tech segment (anti-counterfeit solutions). EBITDA margins expanded significantly to 40.9% from 34.3% YoY, reflecting the commercialization of long-term R&D and patent investments. This single quarter's revenue represents approximately 53.5% of the total TTM revenue of Rs 164 Cr.
- Revenue from operations reached Rs 87.8 Cr, a 111.2% increase compared to Q1 FY26.
- EBITDA margins improved by 1,610 bps sequentially to 40.9% from 24.8% in Q4 FY26.
- High-Tech segment revenue grew 135% QoQ to Rs 81.6 Cr, becoming the primary growth driver.
- PAT for the quarter stood at Rs 27.4 Cr, representing a 268.7% growth on a sequential basis.
- Company holds 21 patents granted worldwide with a long-term lease of 3 acres in Dahej-II for expansion.
Arrow Greentech approved its Q1 FY27 results and announced the appointment of Dr. Ashish Kumar Tiwari as CEO of the Green Segment, effective August 14, 2026. The company is also transitioning its statutory auditors to M/s. KNAV & Co. for a five-year term. For the quarter ended June 30, 2026, the company's subsidiaries contributed Rs 14.93 crore to revenue and Rs 3.98 crore to net profit. A book closure for dividend and the 34th AGM is scheduled for September 16-18, 2026.
- Appointment of Dr. Ashish Kumar Tiwari as CEO - Green Segment, bringing 30 years of experience in industrial products and packaging.
- Four subsidiaries reported a combined revenue of Rs 14.93 crore and a net profit of Rs 3.98 crore for Q1 FY27.
- Proposed appointment of M/s. KNAV & Co. as Statutory Auditors for a 5-year term (FY 2026-27 to FY 2030-31).
- Book closure for dividend eligibility and the 34th AGM set from September 16 to September 18, 2026.
- Appointment of Mr. Dilip M Bathija as Cost Auditor for the financial year 2026-27.
Arrow Greentech has been granted an Indian patent for its 'Dual Colour Shift Security Film,' effective for a 20-year term starting from July 19, 2020. This grant strengthens the company's intellectual property moat, which already includes 27 granted patents and 43 pending applications. The patent is particularly relevant for the High-tech Product segment, which recently faced a 30% YoY decline in H1 FY26. Maintaining high-tech IP is critical for the company to sustain its 34% operating profit margins and defend against non-standard imports from China.
- Patent No. 598211 granted for 'Dual Colour Shift Security Film' in the territory of India.
- The patent provides legal protection for a term of 20 years effective from July 19, 2020.
- The grant date of the patent is recorded as August 6, 2026.
- Supports the company's strategy to commercialize 27 granted patents through its UK and Indian divisions.
- Aims to bolster the High-tech Product segment which saw revenue pressure in FY26.
Financial Performance
Revenue Growth by Segment
Green Products segment revenue grew 71% QoQ to INR 12.3 Cr in Q2 FY26 and 63% YoY in H1 FY26. High-tech Products segment revenue grew 42% QoQ to INR 48.8 Cr in Q2 FY26, though it declined 30% YoY in H1 FY26.
Geographic Revenue Split
Not disclosed in percentage terms, but foreign subsidiaries Arrow UK and Europe are reported as generating substantial revenues with expansion plans for South America and Africa.
Profitability Margins
Gross Profit Margin was 52.4% in Q2 FY26, down from 57.4% in Q2 FY25. PAT Margin stood at 25.3% in Q2 FY26 compared to 28.2% in Q2 FY25.
EBITDA Margin
EBITDA Margin was 34.0% in Q2 FY26, reflecting a decrease from 40.6% in Q2 FY25, primarily due to a 30% YoY decline in the high-margin High-tech Product segment during H1.
Capital Expenditure
Capital Work-in-Progress (CWIP) was INR 1.5 Cr as of September 30, 2025. Property, Plant, and Equipment (PPE) stood at INR 29.4 Cr.
Credit Rating & Borrowing
Not disclosed, but finance costs are minimal at INR 0.1 Cr for Q2 FY26, suggesting low reliance on external debt.
Operational Drivers
Raw Materials
Not disclosed in specific chemical terms, but includes materials for water-soluble and bio-compostable films.
Import Sources
China is identified as a source for competitive extruded films.
Capacity Expansion
Not disclosed in MT/units, but the company is scaling its Green Products segment which saw a 71% QoQ revenue increase.
Raw Material Costs
Total raw material costs (including stock in trade) were INR 29.0 Cr in Q2 FY26, representing 47.5% of total revenue.
Strategic Growth
Growth Strategy
Growth will be achieved by scaling the Green Products segment (up 63% YoY in H1), commercializing 27 granted patents through Arrow UK, and expanding high-tech security exports to the EU, EEA, South America, and Africa.
Products & Services
Water-soluble films, bio-compostable films, and high-tech security products used for anti-counterfeiting and document fraud protection.
Brand Portfolio
Watersol, Avery Pharmaceuticals.
New Products/Services
Expansion of bio-compostable films within the Green Products segment, which contributed 20% of Q2 FY26 revenue.
Market Expansion
Targeting expansion into Europe, South America, and Africa through Avery Pharmaceuticals and Watersol divisions.
External Factors
Industry Trends
Global shift toward sustainability is driving the 63% YoY growth in Green Products. Increasing global document fraud is driving demand for high-tech security features.
Competitive Landscape
Competition from Chinese manufacturers of non-standard extruded films and potential technological obsolescence.
Competitive Moat
Strong IP moat with 27 granted patents and 43 pending applications globally, protecting niche water-soluble and security film technologies.
Macro Economic Sensitivity
High sensitivity to geopolitical developments and global shifts, which contributed to a 30% YoY decline in the High-tech Product segment in H1 FY26.
Consumer Behavior
Increasing consumer and industrial preference for environmentally responsible and sustainable packaging solutions.
Geopolitical Risks
Geopolitical developments are cited as a primary threat to business fluctuations and segment performance.
Regulatory & Governance
Industry Regulations
Operations are influenced by global sustainability mandates and anti-counterfeiting standards.
Environmental Compliance
Not disclosed in absolute INR, but sustainability is a core business imperative driving the Green Products segment.
Taxation Policy Impact
Effective tax rate of approximately 24% in Q2 FY26 (INR 5.0 Cr tax on INR 20.8 Cr PBT).
Legal Contingencies
No non-compliance or penalties imposed by SEBI, Stock Exchanges, or other statutory authorities in the last three years.
Risk Analysis
Key Uncertainties
Geopolitical developments and technological obsolescence are key risks; the High-tech segment saw a 30% YoY revenue decline in H1 FY26.
Geographic Concentration Risk
Not disclosed in percentage terms, but has significant exposure to the UK and European markets.
Technology Obsolescence Risk
High risk due to the niche nature of products; mitigated by a pipeline of 43 pending patent applications.
Credit & Counterparty Risk
Trade receivables stood at INR 71.9 Cr as of September 30, 2025, up from INR 58.5 Cr in March 2025.
