Aarvi Encon Limited (AARVI) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Aarvi Encon Limited stock ₹202, price ₹143, upside +41.3%, quality 57 out of 100. Rating: undervalued. Calculated from audited financials with 25 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 10, 2026.
How to read this chart
60‑month range ₹46.24 – ₹178.95 · fair‑value band ₹117.59 – ₹252.25 · the ₹142.77 price screens below the ₹201.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 10, 2026.
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Aarvi Encon Limited, a technical manpower supply company, provides permanent and temporary manpower services in India, Malaysia, Italy, and internationally.
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The company offers procurement assistance and expediting; pre commissioning and commissioning services; manpower outsourcing, and deputation and technical staffing; operation and maintenance; project and engineering design; project management; CAD/drafting/3D modelling; shutdown; construction supervision; engineering services; and IT staffing and inspection services.
It serves cement, engineering, infrastructure, metro, petrochemical, railway, telecom, EPC, IT, mono rail, pipeline, refinery, CGD and CNG, fertilizer, metal and minerals, oil and gas, power, and renewable energy industries.
Aarvi Encon Limited was incorporated in 1987 and is headquartered in Mumbai, India.
Stock analysis
Aarvi Encon Limited (AARVI) currently trades at ₹142.77, while our model-based Fair Value estimate is ₹201.80, implying the stock looks roughly 29% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹342.22 per share, and 16 of the 25 models we run sit above the ₹142.77 price.
Bear case: the Dividend Discount group reads lowest at ₹23.03, and 9 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹117.59 (bear) to ₹252.25 (bull), the price of ₹142.77 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 57/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Aarvi Encon Limited reported revenue of ₹6.5B in FY2026 versus ₹2.9B in FY2022, a compound +22.5%/yr. Reported net income was ₹176M in FY2026, compounding +9.9%/yr from FY2022.
Key figures
Market cap ₹2.1B (≈ $22.7M) Micro · P/E ratio 11.1 · P/S ratio 0.32 · EPS (TTM) ₹12.84 · Dividend yield 1.4% · Net margin 2.9% · Return on equity 13.2% · Return on assets (EBIT) 8.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 16% fair-value upside, at 41%, AARVI screens cheaper than that median.
Fair Value models
Bear₹117.59Fair Value ₹201.80Bull₹252.25
Price ₹142.77 · Upside +41.3%
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 (₹6.68 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
+27.3%
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.
+14.2%
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.
+26.4%
Start year 2021 (pandemic). Over 10 years: +19.4% a year
Revenue growth 13 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.
+17.5%
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What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+7.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.3%
Dividend (yield on the price)1.4%
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.10.8% vs 10.5%, steady
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.5% → 3%
2026 sits 54% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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).
+31.8%
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 +26.6% 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.Staffing & Employment Services · 86 stocks
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Is Aarvi Encon Limited (AARVI) overvalued or undervalued?
As of Nov 10, 2026, our model estimates a fair value of ₹201.80 versus a price of ₹142.77, about +41% upside (undervalued).
What is the fair value of AARVI?
Our model-based fair value for Aarvi Encon Limited is ₹201.80 (as of Nov 10, 2026), built from audited fundamentals. The current price: ₹142.77.
What is the quality score of AARVI?
Aarvi Encon Limited has a Quality Score of 57/100. 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 Aarvi Encon Limited (AARVI)?
Our model-based price target is the fair value of ₹201.80 (as of Nov 10, 2026) from 25 valuation models. Cautious scenario ₹117.59, optimistic scenario ₹252.25. It is a calculation from audited fundamentals, not an analyst target.
What is the Aarvi Encon Limited stock forecast for 2026?
Our models put fair value at ₹201.80, about +41% upside versus a price of ₹142.77 (undervalued). Cautious scenario ₹117.59, optimistic scenario ₹252.25. The calculation is refreshed regularly with new filings.
What is the revenue of Aarvi Encon Limited (AARVI)?
Aarvi Encon Limited reported trailing-twelve-month revenue of about ₹6.7B (latest available figure, as of Nov 10, 2026).
Does Aarvi Encon Limited pay a dividend?
Aarvi Encon Limited currently shows a dividend yield of 1.40% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of Aarvi Encon Limited (AARVI) and when is the ex-dividend date?
Aarvi Encon Limited pays a dividend of ₹2.00 per share a year, a dividend yield of 1.4%. The last ex-dividend date was Aug 7, 2026. A dividend has been paid every year since at least 2018. The payout ratio is 15.6% of earnings. Free cash flow covers the dividend 1.69 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Aarvi Encon Limited (AARVI)?
For today's price to be fair in a discounted-cash-flow model, Aarvi Encon Limited would have to grow free cash flow by +31.8 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +26.4 % per year. As of Nov 10, 2026.
What discount rate (WACC) does the fair value of AARVI use?
Our models discount Aarvi Encon Limited at 12.4 %: a base by market capitalisation (nano), 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 Aarvi Encon Limited that is +31.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has Aarvi Encon Limited (AARVI) delivered so far?
Over the past 5 years revenue at Aarvi Encon Limited grew +26.4 % a year. The price currently implies free-cash-flow growth of +31.8 % 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 Aarvi Encon Limited (AARVI) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Aarvi Encon Limited (+31.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Aarvi Encon Limited (AARVI)?
The free-cash-flow yield on the price is 2.36 %: that much free cash flow Aarvi Encon Limited produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Aarvi Encon Limited (AARVI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aarvi Encon Limited it is ₹201.80 per share (as of Nov 10, 2026), against a price of ₹142.77. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Aarvi Encon Limited stock overvalued or undervalued in 2026?
As of Nov 10, 2026, AARVI trades below its calculated fair value: price ₹142.77, fair value ₹201.80, a gap of about +41% (undervalued). 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 AARVI?
No. The price is what the market pays today (₹142.77); the fair value is what the company's own numbers justify (₹201.80). For Aarvi Encon Limited the two are ₹59.03 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aarvi Encon Limited worth?
The market values Aarvi Encon Limited at about ₹2.1B (market capitalisation, as of Nov 10, 2026). Per share that is ₹142.77; our models calculate a fair value of ₹201.80 per share.
What do the bullish and bearish scenarios say about AARVI?
Our models span a range for Aarvi Encon Limited: cautious scenario ₹117.59, base ₹201.80, optimistic ₹252.25 per share (as of Nov 10, 2026, price ₹142.77). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AARVI?
Aarvi Encon Limited trades at a price-to-earnings ratio of 11.1 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹201.80 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2018 to 2026), reported earnings: 10.5. Other multiples: P/B 1.5, P/S 0.3, EV/EBITDA 9.1.
How solid is the balance sheet of Aarvi Encon Limited (AARVI)?
Balance-sheet figures for Aarvi Encon Limited (as of Nov 10, 2026): return on equity 13.2%, debt of 0.02 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is AARVI from its 52-week high?
Aarvi Encon Limited trades at ₹142.77, about 12% below its 52-week high of ₹161.75 and 22% above the low of ₹117.26 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹201.80 is for.
Which stocks are comparable to Aarvi Encon Limited?
From the same area (Industrials) we also value Randstad N.V, Adecco Group, Korn Ferry,, Robert Half Inc, 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 Aarvi Encon Limited stock attractive at the current price?
The data as of Nov 10, 2026: price ₹142.77, calculated fair value ₹201.80 (+41%), Quality Score 57/100, from 25 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 AARVI calculated?
We run Aarvi Encon Limited through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹201.80 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. Aarvi Encon Limited currently trades 29% below its own fair value, and the market average says nothing about that. 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 Aarvi Encon Limited (AARVI)?
The closing price on Nov 9, 2026 was ₹142.77. Our model-based fair value is ₹201.80, about +41% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aarvi Encon Limited right now?
Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (₹117.59 to ₹252.25) leaves room in how you read the outcome.
Where does the earnings growth of Aarvi Encon Limited (AARVI) come from?
Earnings per share at Aarvi Encon Limited grew +7.2 % a year from 2015 to 2026. Broken into its drivers: revenue per share +12.3 %, EBIT margin −6.6 %, tax rate +2.9 %, residual (interest, one-offs) −0.6 %. 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 Aarvi Encon Limited
How large is the market capitalisation of Aarvi Encon Limited (AARVI)?
The market capitalisation of Aarvi Encon Limited is ₹2.1B (≈ $22.7M). 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 Aarvi Encon Limited (AARVI)?
The price-to-sales ratio of Aarvi Encon Limited is 0.32 (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 Aarvi Encon Limited (AARVI)?
Earnings per share at Aarvi Encon Limited are ₹12.84 (price ÷ EPS = P/E 11.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Aarvi Encon Limited (AARVI)?
The dividend yield of Aarvi Encon Limited is 1.4% (payout 15.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Aarvi Encon Limited (AARVI)?
The net margin of Aarvi Encon Limited is 2.9% (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 Aarvi Encon Limited (AARVI)?
The return on equity (ROE) of Aarvi Encon Limited is 13.2% (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 Aarvi Encon Limited (AARVI)?
On an EBIT basis the return on assets of Aarvi Encon Limited is 8.2% (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 Aarvi Encon Limited (AARVI)?
The operating margin of Aarvi Encon Limited is 2.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aarvi Encon Limited (AARVI)?
Revenue at Aarvi Encon Limited is growing +14.1% versus a year earlier (3y avg +14.2%). 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 Aarvi Encon Limited (AARVI)?
Earnings per share at Aarvi Encon Limited are growing +42.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Aarvi Encon Limited (AARVI) carry?
The net debt of Aarvi Encon Limited is ₹144M (fiscal year 2026, ≈ 2.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 10, 2026