Airan Limited (AIRAN) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Airan Limited stock ₹15.82, price ₹15.93, that is 0.7% below the price, quality 52 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.
How to read this chart
60‑month range ₹12.83 – ₹44.35 · fair‑value band ₹7.73 – ₹26.63 · the ₹15.93 price screens above the ₹15.82 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 11, 2026.
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Airan Limited, together with its subsidiaries, provides information technology (IT) and IT-enabled services in India and internationally.
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The company offers cash management, door step banking and pickup, fee collection/counter management, customer onboarding eKYC, cheque truncation/processing, e-stamping/registration fee collection, document management, contact center, records management, address verification and credit verification, back office management, bookkeeping, software development, self-managed superannuation fund, financials and taxation, data migration, payroll processing, labour law compliance, digital document verification, and automobile inspection services.
It also provides AI-enabled software platforms, automation engines, and process intelligence tools. In addition, the company offers CTS clearing processing, account opening forms processing, and managing collection counters services.
Further, it provides consulting, technology, outsourcing, and next generation digital services & software. Airan Limited was founded in 1989 and is headquartered in Ahmedabad, India.
Stock analysis
Airan Limited (AIRAN) currently trades at ₹15.93, while our model-based Fair Value estimate is ₹15.82, so the stock looks roughly fairly valued today (gap 0.7%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹23.93 per share, and 10 of the 24 models we run sit above the ₹15.93 price.
Bear case: the Asset-Based group reads lowest at ₹4.81, and 14 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: ₹7.73 (bear) to ₹26.63 (bull), the price of ₹15.93 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Airan Limited reported revenue of ₹1.1B in FY2026 versus ₹873M in FY2022, a compound +6.5%/yr. Reported net income was ₹121M in FY2026, compounding +5.9%/yr from FY2022.
Key figures
Market cap ₹2.0B (≈ $21.2M) Micro · P/E ratio 13.3 · P/S ratio 1.76 · EPS (TTM) ₹1.20 · Net margin 13.9% · Return on equity 7.7% · Return on assets (EBIT) 6.8% (5-year average) · Operating margin 8.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 24% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 21% fair-value upside, at −1%, AIRAN screens richer than that median.
Fair Value models
Bear₹7.73Fair Value ₹15.82Bull₹26.63
Price ₹15.93 · Downside -0.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹0.7397 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+5.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.1%
Start year 2021 (pandemic). Over 10 years: +15.8% a year
Revenue growth 14 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.9%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+12.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.5%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.12.5% vs 25.5%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.9% → 8%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+39.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +34.3% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Information Technology Services · 517 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−0.7% · Above median
Profitability
Return on equity (12 months)7.7% · Above median
Return on assets6.3% · Above median
Net margin (12 months)13.9% · Top 25%
Operating margin (12 months)8.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)3.3% · Below median
Valuation Multiplesvs Information Technology Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Airan Limited Fair Value". https://www.fairvalue-calculator.com/stock/AIRAN
Frequently asked questions
Is Airan Limited (AIRAN) overvalued or undervalued?
As of Nov 11, 2026, our model estimates a fair value of ₹15.82 versus a price of ₹15.93, about 1% lower (fairly valued).
What is the fair value of AIRAN?
Our model-based fair value for Airan Limited is ₹15.82 (as of Nov 11, 2026), built from audited fundamentals. The current price: ₹15.93.
What is the quality score of AIRAN?
Airan Limited has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Airan Limited (AIRAN)?
Our model-based price target is the fair value of ₹15.82 (as of Nov 11, 2026) from 24 valuation models. Cautious scenario ₹7.73, optimistic scenario ₹26.63. It is a calculation from audited fundamentals, not an analyst target.
What is the Airan Limited stock forecast for 2026?
Our models put fair value at ₹15.82, about 1% lower versus a price of ₹15.93 (fairly valued). Cautious scenario ₹7.73, optimistic scenario ₹26.63. The calculation is refreshed regularly with new filings.
What is the revenue of Airan Limited (AIRAN)?
Airan Limited reported trailing-twelve-month revenue of about ₹1.1B (latest available figure, as of Nov 11, 2026).
What growth is priced into Airan Limited (AIRAN)?
For today's price to be fair in a discounted-cash-flow model, Airan Limited would have to grow free cash flow by +39.9 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.1 % per year. As of Nov 11, 2026.
What discount rate (WACC) does the fair value of AIRAN use?
Our models discount Airan Limited at 11.2 %: a base by market capitalisation (nano), damped by beta 0.61, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Airan Limited that is +39.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Airan Limited (AIRAN) delivered so far?
Over the past 5 years revenue at Airan Limited grew +11.1 % a year. The price currently implies free-cash-flow growth of +39.9 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Airan Limited (AIRAN) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Airan Limited (+39.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Airan Limited (AIRAN)?
The free-cash-flow yield on the price is 1.14 %: that much free cash flow Airan Limited produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Airan Limited (AIRAN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Airan Limited it is ₹15.82 per share (as of Nov 11, 2026), against a price of ₹15.93. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Airan Limited stock overvalued or undervalued in 2026?
As of Nov 11, 2026, AIRAN trades above its calculated fair value: price ₹15.93, fair value ₹15.82, a gap of about −1% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AIRAN?
No. The price is what the market pays today (₹15.93); the fair value is what the company's own numbers justify (₹15.82). For Airan Limited the two are ₹0.1100 per share apart. That gap is exactly why we show both numbers side by side.
How much is Airan Limited worth?
The market values Airan Limited at about ₹2.0B (market capitalisation, as of Nov 11, 2026). Per share that is ₹15.93; our models calculate a fair value of ₹15.82 per share.
What do the bullish and bearish scenarios say about AIRAN?
Our models span a range for Airan Limited: cautious scenario ₹7.73, base ₹15.82, optimistic ₹26.63 per share (as of Nov 11, 2026, price ₹15.93). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AIRAN?
Airan Limited trades at a price-to-earnings ratio of 13.3 (as of Nov 11, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹15.82 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2020 to 2026), reported earnings: 19.4. Other multiples: P/B 1.3, P/S 1.8, EV/EBITDA 13.5.
How solid is the balance sheet of Airan Limited (AIRAN)?
Balance-sheet figures for Airan Limited (as of Nov 11, 2026): return on equity 7.7%. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is AIRAN from its 52-week high?
Airan Limited trades at ₹15.93, about 29% below its 52-week high of ₹22.51 and 24% above the low of ₹12.83 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹15.82 is for.
Which stocks are comparable to Airan Limited?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Airan Limited stock attractive at the current price?
The data as of Nov 11, 2026: price ₹15.93, calculated fair value ₹15.82 (−1%), Quality Score 52/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AIRAN calculated?
We run Airan Limited through 24 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹15.82 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Airan Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Airan Limited (AIRAN)?
The closing price on Nov 9, 2026 was ₹15.93. Our model-based fair value is ₹15.82, about 1% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Airan Limited right now?
The model range is unusually wide (₹7.73 to ₹26.63). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Airan Limited (AIRAN) come from?
Earnings per share at Airan Limited grew +28.7 % a year from 2015 to 2026. Broken into its drivers: revenue per share +17.6 %, EBIT margin +4.4 %, tax rate +0.8 %, residual (interest, one-offs) +4.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Airan Limited
How large is the market capitalisation of Airan Limited (AIRAN)?
The market capitalisation of Airan Limited is ₹2.0B (≈ $21.2M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Airan Limited (AIRAN)?
The price-to-sales ratio of Airan Limited is 1.76 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Airan Limited (AIRAN)?
Earnings per share at Airan Limited are ₹1.20 (price ÷ EPS = P/E 13.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Airan Limited (AIRAN)?
The net margin of Airan Limited is 13.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Airan Limited (AIRAN)?
The return on equity (ROE) of Airan Limited is 7.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Airan Limited (AIRAN)?
On an EBIT basis the return on assets of Airan Limited is 6.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Airan Limited (AIRAN)?
The operating margin of Airan Limited is 8.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Airan Limited (AIRAN)?
Revenue at Airan Limited is growing +3.3% versus a year earlier (3y avg +4.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Airan Limited (AIRAN)?
Earnings per share at Airan Limited are growing +108% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Airan Limited (AIRAN) hold?
Airan Limited holds more cash than debt, ₹103M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Nov 11, 2026