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Aspinwall and Company Limited (ASPINWALL)

₹240.00 +2.02% last close, 16 Oct

📊 NSE: ASPINWALL 🏢 Diversified 📢 Latest filing: 07 Oct 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Aspinwall's revenue was ₹113 Cr (+25.8% year on year, -13.1% on the previous quarter), and net profit ₹-0.7 Cr (a smaller loss than a year earlier); the operating margin was 1.0%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹113	+25.8%	-13.1%
Operating profit	₹1.1	from loss	-88.1%
Net profit	₹-0.7	loss narrowed	to loss
EPS (₹)	-0.90	loss narrowed	to loss
Operating margin	1.0%	—	—

Full quarterly financials → Results calendar →

ASPINWALL delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 97.34% of the ASPINWALL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 78.01%. That is higher than usual for this stock. Turnover was only ₹13 lakh, so a handful of trades can move this figure.

97.34%Delivery, 16 Oct

78.01%Own 20-session average

1.6×Volume vs its average

₹240.00NSE close · +2.02%

Delivery in the last 5 sessions: 95.7% · 54.9% · 91.9% · 99.9% · 97.3%

Delivery across the market →

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

Aspinwall Submits Demat Compliance Certificate for Q2 Ended September 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 07 Oct 2026, 10:05 AM

Aspinwall and Company Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the period ended September 30, 2026. The certificate, issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited, confirms that all securities received for dematerialisation during the quarter were processed and verified within prescribed timelines. This is a mandatory administrative disclosure confirming normal share registry operations, with zero operational or financial impact on the company.

Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018.
Covers the quarter ended September 30, 2026.
Issued by RTA MUFG Intime India Private Limited dated October 3, 2026.
Confirms mutilation, cancellation, and exchange listing of dematerialised share certificates.

💡 No action required. Investors should track upcoming Q2 FY27 earnings announcements for operational and financial performance updates.

Aspinwall Q1 FY27: Revenue Up 25.7% YoY to ₹113.18 Cr; Net Loss Narrows to ₹0.70 Cr

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 05 Aug 2026, 05:03 PM

Aspinwall and Company Limited reported a 25.7% YoY increase in consolidated revenue to ₹113.18 Cr for the quarter ended June 30, 2026. The company narrowed its consolidated net loss to ₹0.70 Cr, compared to a loss of ₹3.27 Cr in the same period last year. While the Logistics and Coffee segments showed revenue growth of 30% and 24% respectively, the Plantation segment remained a drag with an EBIT loss of ₹1.49 Cr. The company remains in a near-breakeven phase despite the significant top-line expansion.

Consolidated revenue from operations increased to ₹113.18 Cr from ₹90.00 Cr in Q1 FY26.
Consolidated net loss narrowed significantly to ₹0.70 Cr from ₹3.27 Cr YoY.
Logistics segment revenue grew 30% YoY to ₹38.56 Cr with an EBIT of ₹2.55 Cr.
Coffee segment revenue rose to ₹47.96 Cr, contributing the largest share of standalone revenue.
Plantation segment reported an EBIT loss of ₹1.49 Cr, continuing to weigh on overall profitability.

💡 Investors should monitor the Plantation segment's turnaround and the company's ability to manage un-allocable expenses, which stood at ₹3.73 Cr this quarter.

106th AGM Results: Shareholders Approve Dividend and Re-appointment of Managing Director

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Jul 2026, 05:18 PM

Aspinwall and Company Limited has successfully concluded its 106th Annual General Meeting held on July 23, 2026. Shareholders approved all six resolutions, including the adoption of financial statements and the declaration of a dividend. Key leadership continuity was secured through the re-appointment of Mr. Rama Varma as Managing Director and the approval of remuneration for the Executive Director & CFO. The voting results showed near-unanimous support, with 99.9996% of total votes cast in favor.

106th Annual General Meeting held on July 23, 2026, with all resolutions passed.
Total of 3,602,935 votes polled, representing high participation from the 64.5% promoter holding.
99.9996% of total votes (3,602,921) were cast in favor of the proposed resolutions.
Promoter group cast 3,579,222 votes, all 100% in favor of the management's agenda.
Only 14 votes were cast against the resolutions by public non-institutional shareholders.

💡 Investors should monitor the dividend payout timeline and track the company's execution of its 25% growth strategy under the re-appointed leadership.

106th AGM: Aspinwall Re-appoints MD for 3-Year Term and Approves FY26 Dividend

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 23 Jul 2026, 12:08 PM

Aspinwall and Company Limited held its 106th Annual General Meeting on July 23, 2026, to approve the FY26 financial statements and a final dividend. A key outcome was the re-appointment of Mr. Rama Varma as Managing Director for a three-year term starting August 1, 2026. The company also formalized remuneration for its CFO, Mr. T.R. Radhakrishnan, effective May 17, 2026. These moves ensure leadership continuity for the company, which reported a TTM revenue of Rs 417 Cr and a PAT of Rs 13 Cr.

106th Annual General Meeting successfully conducted on July 23, 2026, via video conferencing
Re-appointment of Mr. Rama Varma as Managing Director for a 3-year tenure from August 1, 2026, to July 31, 2029
Approval of first and final dividend for the financial year ended March 31, 2026
Remuneration fixed for Executive Director & CFO Mr. T.R. Radhakrishnan effective from May 17, 2026
Scrutinizer report on voting results expected within 2 days of the meeting conclusion

💡 Investors should watch for the specific dividend amount and the final voting results to be published within 48 hours to confirm shareholder alignment with management compensation.

Aspinwall Submits Q1 FY27 Dematerialization Certificate Under SEBI Regulation 74(5)

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jul 2026, 12:59 PM

Aspinwall and Company Limited has filed its quarterly compliance certificate for the period ended June 30, 2026, as required under SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by its Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirms that share certificates received for dematerialization were processed and listed on the stock exchanges. This is a standard administrative filing confirming that the company is maintaining its register of members and adhering to depository timelines. There is no impact on the company's financial performance or business operations.

Compliance certificate issued for the quarter ended June 30, 2026
Registrar MUFG Intime India Private Limited confirmed processing of dematerialization requests
Securities comprised in the certificates are confirmed to be listed on the stock exchanges
Company maintains a TTM revenue of ₹417 Cr and TTM PAT of ₹13 Cr as per latest context

💡 This is a routine procedural filing. Investors should monitor the upcoming quarterly financial results to track the company's 25% targeted growth strategy in specialty coffee and logistics.

July 16, 2026 Fixed as Record Date for 106th AGM and Dividend Eligibility

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Jun 2026, 11:18 AM

Aspinwall and Company Limited has announced July 16, 2026, as the record date for its 106th Annual General Meeting (AGM) and for determining dividend eligibility. The AGM is scheduled to take place on July 23, 2026, at 11:00 AM. This procedural announcement follows a fiscal period where the company reported TTM revenue of ₹417 Cr and a PAT of ₹13 Cr. Shareholders must hold the stock by the record date to participate in electronic voting and receive any declared dividends.

Record date for dividend and AGM participation set for July 16, 2026
106th Annual General Meeting scheduled for July 23, 2026
TTM Revenue of ₹417 Cr and TTM PAT of ₹13 Cr as per latest financial context
Promoter holding remains stable at 64.46% as of March 2026

💡 Investors should ensure their holdings are in their demat accounts by the record date to be eligible for dividends and to vote on AGM resolutions.

Trading window closure from July 1, 2026, for Q1 FY27 financial results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Jun 2026, 03:45 PM

Aspinwall and Company Limited has announced the closure of its trading window for designated persons starting July 1, 2026. This action is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the company's Q1 FY27 financial results. The window will remain closed until 48 hours after the unaudited financial results for the quarter ended June 30, 2026, are declared. The company reported a TTM revenue of ₹417 Cr and a TTM PAT of ₹13 Cr in the preceding periods.

Trading window for designated persons and relatives to close on July 1, 2026.
Closure is for the purpose of considering unaudited financial results for the quarter ended June 30, 2026.
Trading window will reopen 48 hours after the results are declared to the stock exchange.
The specific date for the Board Meeting to approve results will be announced later.
Company maintains a TTM EPS of ₹16.83 based on recent financial performance.

💡 Investors should wait for the announcement of the Board Meeting date, which will indicate when the Q1 FY27 financial performance will be disclosed.

Aspinwall Promoters Declare Zero Encumbrance on Shares for FY 2025-26

🟢 POSITIVE ⭐ 4/10

REGULATORY 📅 19 Jun 2026, 04:05 PM

The promoter group of Aspinwall and Company Limited has submitted its annual declaration under Regulation 31(4) of the SEBI (SAST) Regulations for the financial year ending March 31, 2026. The filing confirms that no shares held by the promoters or promoter group entities were encumbered or pledged, directly or indirectly, during the year. This declaration covers a wide group of individual promoters and entities including Kumari Investment Corporation Pvt Ltd. Such disclosures are standard annual requirements that ensure transparency regarding the status of promoter holdings.

Annual declaration filed under Regulation 31(4) of SEBI Takeover Regulations, 2011.
Promoter group confirms zero encumbrance on shares for the financial year ending March 31, 2026.
Declaration covers major entities including Kumari Investment Corporation and Narayanan Investment Trust.
The disclosure was submitted by Rama Varma on behalf of the entire promoter group on April 6, 2026.

💡 Investors can take comfort in the fact that promoter shares remain unencumbered, which is a sign of financial stability. No specific action is required as this is a routine regulatory filing.

Aspinwall Promoters Declare Zero Share Encumbrance for FY 2025-26

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 15 Jun 2026, 07:17 PM

Rama Varma, representing the promoter group of Aspinwall and Company Limited, has filed an annual declaration under Regulation 31(4) of SEBI (SAST) Regulations. The filing confirms that no direct or indirect encumbrances were created on the company's shares during the financial year ending March 31, 2026. This disclosure covers a wide range of promoter group individuals and entities, including Kumari Investment Corporation Pvt Ltd and Narayanan Investment Trust Private Ltd. This is a routine but essential transparency measure regarding promoter shareholding stability.

Annual declaration submitted as per Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Promoter group confirmed that no shares of Aspinwall and Company Limited were pledged or encumbered during FY 2025-26.
The declaration was submitted by Rama Varma on behalf of the entire promoter and promoter group entities.
Key entities included in the declaration are Kumari Investment Corporation Pvt Ltd and Narayanan Investment Trust Private Ltd.

💡 No immediate action is required as this is a routine annual compliance filing; however, the lack of promoter share pledging is a positive indicator of the group's financial health.

Aspinwall FY26 Revenue Rises 24% to ₹406.8 Cr; PAT Dips 13%; ₹6.50 Dividend Declared

🟡 NEUTRAL ⭐ 8/10

EARNINGS 📅 27 May 2026, 04:52 PM

Aspinwall and Company Limited reported a robust 24.1% year-on-year growth in standalone revenue, reaching ₹40,678 lakhs for the fiscal year ended March 31, 2026. Despite the top-line growth, Profit After Tax (PAT) declined by 13% to ₹1,252 lakhs from ₹1,440 lakhs in FY25, primarily due to a significant 68% increase in finance costs and higher operating expenses. The company has recommended a dividend of ₹6.50 per share (65%) and confirmed the re-appointment of Mr. Rama Varma as Managing Director for another three-year term.

Standalone revenue from operations grew 24.1% YoY to ₹40,678 lakhs in FY26.
Profit After Tax (PAT) decreased to ₹1,252 lakhs compared to ₹1,440 lakhs in the previous fiscal year.
Recommended a first and final dividend of ₹6.50 per equity share (65% of face value).
Finance costs increased substantially to ₹683 lakhs from ₹406 lakhs in FY25.
Re-appointed Mr. Rama Varma as Managing Director for a 3-year term effective August 1, 2026.

💡 While revenue growth is strong, investors should exercise caution regarding the margin compression and rising interest burdens. The stock may remain attractive for dividend-seeking investors given the ₹6.50 per share payout.

Supreme Court Dismisses Aspinwall's Tax Appeal; Financial Impact Estimated at ₹58 Lakhs

🟡 NEUTRAL ⭐ 4/10

LEGAL 📅 17 Apr 2026, 11:43 AM

The Supreme Court of India has dismissed Aspinwall and Company's appeal regarding the set-off of accumulated losses from an amalgamated entity against its agricultural income under the Kerala Agricultural Income Tax Act. The financial implication is estimated at ₹58 lakhs plus applicable interest. However, the company has already made adequate provisions for this liability in its books of accounts. The actual net cash outflow is expected to be minimal as the amount will be adjusted against pending tax refunds due to the company.

Supreme Court dismissed Civil Appeal No. 7796 of 2012 regarding tax set-off claims.
Estimated financial liability stands at ₹58,00,000 plus interest.
Liability is already fully provisioned in the company's financial statements.
Expected outflow to be adjusted against pending tax refunds, resulting in minimal cash impact.
Company is consulting legal counsel regarding the possibility of filing a Review Petition.

💡 Investors should note that while the legal outcome is unfavorable, the financial impact is already accounted for and will not affect current liquidity. No immediate action is required as the net impact on the company's financial strength is negligible.

Aspinwall Receives CRISIL BBB/Stable Rating for Rs 126.5 Crore Bank Facilities

🟡 NEUTRAL ⭐ 6/10

OTHER 📅 10 Apr 2026, 04:04 PM

Aspinwall and Company Limited has received updated credit ratings from CRISIL for its bank loan facilities totaling Rs 126.5 Crore. The agency assigned a long-term rating of CRISIL BBB with a Stable outlook and a short-term rating of CRISIL A3+. These ratings provide a benchmark for the company's credit risk profile and financial stability. The stable outlook suggests that the company is expected to maintain its credit profile in the medium term, reflecting a moderate degree of safety regarding debt servicing.

CRISIL assigned a long-term rating of BBB with a Stable outlook for bank facilities.
Short-term rating for the company's bank facilities is set at A3+.
Total bank loan facilities covered under this rating assessment amount to Rs 126.5 Crore.
The rating communication was received from CRISIL on April 10, 2026.

💡 Investors should monitor the company's future financial performance to see if it can improve its credit profile beyond the BBB investment grade. No immediate action is required as the rating indicates a stable financial position.

Aspinwall & Co. Files Routine SEBI Compliance Certificate for Year Ended March 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Apr 2026, 12:26 PM

Aspinwall and Company Limited has submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited, confirms that all dematerialization requests for the period ending March 31, 2026, were processed within prescribed timelines. This filing confirms that physical share certificates were mutilated and cancelled after verification, and the register of members was updated accordingly. This is a standard regulatory requirement for all listed entities in India.

Compliance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 confirmed.
Certificate covers the period ending March 31, 2026.
Registrar MUFG Intime India Private Limited verified the dematerialization process.
Confirmation that securities are listed on stock exchanges where earlier securities were listed.

💡 No action is required as this is a routine administrative filing. Investors should continue to monitor the company's financial performance and upcoming earnings reports.

Aspinwall and Company Limited Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Mar 2026, 10:16 AM

Aspinwall and Company Limited has announced the closure of its trading window starting April 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. This closure is ahead of the board's consideration of the audited financial results for the quarter and year ending March 31, 2026. The restriction applies to all designated persons and their immediate relatives. The trading window will reopen 48 hours after the financial results are officially declared to the stock exchange.

Trading window closure begins on April 1, 2026, for designated persons.
Closure is related to the audited financial results for the quarter and year ended March 31, 2026.
The window will remain closed until 48 hours after the results are announced.
The specific date for the Board Meeting to approve results will be communicated separately.

💡 This is a routine regulatory filing with no immediate impact on stock fundamentals. Investors should watch for the upcoming announcement of the board meeting date to assess the company's annual performance.

Aspinwall Faces Legal Claim of Rs 87.56 Lakh from Cargosol Logistics

🟡 NEUTRAL ⭐ 3/10

LEGAL 📅 24 Feb 2026, 04:50 PM

Aspinwall and Company Limited has been served with a commercial suit filed by Cargosol Logistics Pvt Ltd in the Bombay City Civil Court. The dispute involves a claim of Rs 87,55,911, including interest, regarding unpaid terminal storage charges for cargo where Aspinwall acted as a freight forwarder. The company maintains that it has no liability as the Delivery Order was already released to the actual consignee, who failed to clear the goods. Management currently anticipates no significant financial impact from this litigation.

Commercial suit filed by Cargosol Logistics Pvt Ltd involving a claim of Rs 87,55,911.
Dispute pertains to terminal storage charges and failure of a consignee to take physical delivery of cargo.
Aspinwall acted as a freight forwarder and claims all agreed load port charges were settled on a freight prepaid basis.
Company management expects no adverse financial implications from the outcome of this dispute.
The legal notice was received on February 19, 2026, and disclosed to the exchange on February 24, 2026.

💡 Investors should treat this as a routine legal disclosure as the claim amount is relatively small and unlikely to impact the company's fundamentals. Monitor for any further updates regarding the court's decision.

View All ASPINWALL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total consolidated revenue for the six months ended September 30, 2025, grew 10.3% YoY to INR 173.19 Cr. Segment-wise, Logistics revenue declined 3.6% to INR 63.71 Cr, while Coffee revenue grew approximately 24% to INR 101.31 Cr. Plantation revenue saw a decline of 10.7% to INR 8.17 Cr.

Geographic Revenue Split

Operations are primarily concentrated in South India (Kerala and Karnataka) for sourcing and processing, with a significant portion of the Coffee segment (58.5% of total revenue) being exported to international markets. Specific regional percentage splits are not disclosed.

Profitability Margins

Profitability saw a sharp decline; the company reported a consolidated loss before tax of INR 6.46 Cr for H1 FY26 compared to a profit of INR 8.41 Cr in H1 FY25. The Coffee segment's results swung from a profit of INR 6.67 Cr to a loss of INR 2.10 Cr, significantly impacting overall net margins.

EBITDA Margin

The consolidated EBITDA margin collapsed from 7.84% in H1 FY25 to 0.08% in H1 FY26. This was driven by a 178.6% surge in finance costs (INR 3.90 Cr) and operational losses in the core Coffee segment.

Capital Expenditure

Historical capital expenditure for the six months ended September 30, 2025, was INR 4.41 Cr, an increase from INR 2.93 Cr in the same period the previous year, primarily directed toward property, plant, and equipment.

Credit Rating & Borrowing

The company's credit rating was downgraded to CRISIL BBB/Stable/CRISIL A3+. Borrowing costs are significant, with finance costs of INR 3.90 Cr for H1 FY26 on fund-based limits of INR 102 Cr, implying an effective annual interest rate of approximately 7.6%.

⚙️ Operational Drivers

Raw Materials

Coffee beans (representing approximately 60% of Coffee segment costs) and Rubber latex (representing approximately 45% of Plantation segment costs).

Import Sources

Raw materials are primarily sourced domestically from the states of Kerala and Karnataka, India.

Key Suppliers

Sourcing is conducted through a network of local coffee growers and small-hold rubber farmers in South India.

Capacity Expansion

Current capacity is not disclosed in MT; however, the company operates processing facilities for specialty coffee and manages rubber plantations. No major new capex plans were noted in recent credit reports.

Raw Material Costs

Raw material costs are highly volatile; coffee bean prices directly impact the 58.5% revenue share of the Coffee segment. Procurement strategies focus on established relations with growers over five decades.

Manufacturing Efficiency

Manufacturing efficiency is challenged by high working capital requirements, with Gross Current Assets (GCA) at 200 days, indicating slow inventory turnover.

Logistics & Distribution

Distribution and logistics services provided to third parties represent 36.8% of total revenue (INR 63.71 Cr), while internal logistics for coffee exports are a core operational component.

📈 Strategic Growth

Expected Growth Rate

25%

Growth Strategy

Growth is targeted through the expansion of specialized logistics services, such as pharma logistics via SFS Pharma Logistics Pvt Ltd, and increasing the volume of specialty coffee exports. The company leverages its 80-year heritage in shipping to maintain market share while attempting to improve the working capital cycle to fund accruals.

Products & Services

Specialty coffee exports, natural rubber, shipping and port logistics services, pharma logistics, and coir products.

Brand Portfolio

Aspinwall

New Products/Services

The company has expanded into specialized segments like pharma logistics and healthcare services through subsidiaries, though specific revenue contribution percentages for new launches are not disclosed.

Market Expansion

Market expansion focuses on deepening the specialty coffee footprint in international markets and expanding logistics service offerings in Indian ports.

Strategic Alliances

Strategic operations are conducted through wholly-owned subsidiaries: Malabar Coast Marine Services, Aspinwall Geotech, SFS Pharma Logistics, and Aspinwall Healthcare.

🌍 External Factors

Industry Trends

The industry is shifting toward specialized logistics (pharma/healthcare) and premium specialty coffee. Aspinwall is positioning itself in these niches to counter the cyclicality of standard shipping and commodity rubber.

Competitive Landscape

Competes with large-scale international logistics firms and domestic coffee exporters like Tata Coffee in the specialty segment.

Competitive Moat

The moat is based on an 80-year brand heritage and established logistics networks. This is sustainable due to high trust requirements in shipping, but vulnerable to high debt costs and commodity price swings.

Macro Economic Sensitivity

Highly sensitive to global trade GDP and commodity price cycles. A slowdown in global trade directly reduces demand for the Logistics segment (36.8% of revenue).

Consumer Behavior

Increasing global demand for ethically sourced and specialty-grade coffee supports the company's long-term export strategy.

Geopolitical Risks

Geopolitical tensions affecting shipping routes (e.g., Red Sea) pose a direct risk to the Logistics segment's operational efficiency and cost structure.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to plantation labor laws in Kerala and international maritime regulations. The company must also adhere to specialized pharma handling standards for its SFS Pharma Logistics subsidiary.

Environmental Compliance

ESG and environmental compliance costs are not specifically disclosed in INR values.

Taxation Policy Impact

The effective tax rate is influenced by reversals of prior year tax provisions amounting to INR 38 lakhs and INR 63 lakhs.

Legal Contingencies

A notice was issued by the Chokkad Grama Panchayat Office, Malappuram, Kerala, regarding operational matters. The company claims no material impact, and no specific case value in INR was disclosed.

⚠️ Risk Analysis

Key Uncertainties

Primary uncertainties include the volatility of international coffee prices and the high interest rate environment, which could impact net margins by 10-15%.