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AKI India Ltd (AKI) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹498M

AI AKI India Ltd AKI · BSE
Price₹4.21
Fair Value₹4.06
Upside-3.5%
Quality25/100
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Expensive Growth
Thin margins · 2.2% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/12)
Narrow moat 28/100
Evidence: Medium Range ₹2.85 – ₹4.06 Share as image

Fair value as of: Aug 13, 2026

From 9 valuation models · updated 3 days ago

Share price −12.8% over the past month.

Below-average quality, currently priced close to our fair value.

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What matters now

  • The price sits above even our optimistic bull case (₹4.06). The favourable scenario is already priced in.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
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Price vs Fair Value (5 years)

₹32.44 ₹0.9231 Fair Value ₹4.06 Oct 2018 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹0.9231 – ₹32.44 · fair‑value band ₹2.85 – ₹4.06 · the ₹4.21 price screens above the ₹4.06 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

AKI India Ltd (AKI) currently trades at ₹4.21, while our model-based Fair Value estimate is ₹4.06, implying the stock looks roughly 3.5% fairly valued today. The Quality Score stands at 25/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, AKI India Ltd generated revenue of ₹1.1B at a net margin of 2.2%. Revenue grew 52.3% year over year. It earns a return on equity of 2.9%. Net debt stands at ₹168M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹2.85 (bear case) to ₹4.06 (bull case); at ₹4.21, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 74% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at -3%, AKI screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Growth-Adj P/E ₹3.35 ₹4.78 ₹6.22 68
P/E Multiple ₹3.09 ₹4.12 ₹5.15 63
Residual Income ₹6.41 ₹5.92 ₹4.26 61
All 9 models by family
Earnings-Based
Graham-Dodd ₹1.27 ₹7.96 ₹11.12 54
Lynch FV ₹2.29 ₹3.28 ₹4.26 50
PEG = 1.0 ₹2.29 ₹3.28 ₹4.26 46
Multiples
P/E Multiple ₹3.09 ₹4.12 ₹5.15 63
P/S Multiple ₹2.39 ₹3.19 ₹3.98 58
P/B Multiple ₹2.39 ₹3.19 ₹3.98 55
Asset-Based
NCAV (Graham) ₹4.86 ₹6.51 ₹9.72 50
Economic Profit
Residual Income ₹6.41 ₹5.92 ₹4.26 61
Growth Earnings
Growth-Adj P/E ₹3.35 ₹4.78 ₹6.22 68

Widest divergence: Asset-Based (₹6.51) versus Multiples (₹3.19). Highest evidence: Growth-Adj P/E (68).

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Key figures & financial health

Revenue (TTM) ₹1.1B
Revenue growth (YoY) +52.3%
Net margin 2.2%
Return on equity 2.9%
Free cash flow −₹210M FY2026
P/E ratio 22.2
More key figures
Operating margin 4.6%
EPS (TTM) ₹0.1900
EPS growth (YoY) +250%
Net debt ₹168M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 25/100

Of which business quality 28 · Market factors (momentum, volatility) 22

Profitability 26
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 28
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

AKI India Limited, together with its subsidiary, AKI UK Limited, designs, manufactures, and sells leather and leather goods in India and internationally. The company offers leather accessories; leather belts for men and women; leather duffel and small tote bags, as well as large briefcases and men's backpacks; and leather wallets and card holders.

Full company description

AKI India Limited, together with its subsidiary, AKI UK Limited, designs, manufactures, and sells leather and leather goods in India and internationally. The company offers leather accessories; leather belts for men and women; leather duffel and small tote bags, as well as large briefcases and men's backpacks; and leather wallets and card holders. It also provides leather shoes comprising formal, riding, deck, casual, and canvas shoes, as well as countryside boots; and pet accessories consisting of dog toys, collars, and leads. In addition, the company offers finished leather products, such as bag, upholstery, footwear, and belt leather, as well as washable nubucks; and equestrian products comprising horse covers, bridles, rugs, stirrup leather, halters, girths, nosebands, and harness sets. Further, it distributes leather chemicals. The company exports its products. AKI India Limited was incorporated in 1994 and is based in Kanpur, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

AKI India Ltd reported revenue of ₹1.1B in FY2026 versus ₹609M in FY2022, a compound +15.2%/yr. Reported net income was ₹19.3M in FY2026, compounding +4.1%/yr from FY2022.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹1.1B
Latest YoY
+32.6%
Avg. growth/yr (3Y) 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.
+15.2%
Avg. growth/yr (5Y) 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.
+19.1%
Avg. growth/yr (6Y) 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.
+17.4%
Revenue +15.2%/yr
FY22 ₹609M
FY23 ₹703M
FY24 ₹709M
FY25 ₹810M
FY26 ₹1.1B
Net income +4.1%/yr
FY22 ₹16.5M
FY23 ₹11.6M
FY24 ₹13.7M
FY25 ₹16.8M
FY26 ₹19.3M

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Cite: Fair Value Calculator (2026). "AKI India Ltd Fair Value". https://www.fairvalue-calculator.com/stock/AKI

Peer Group

Footwear & Accessories · 93 stocks

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.

Quality Score 25 · Bottom 25%
Fair Value upside −4% · Above median
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 52% · Top 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Footwear & Accessories median · lower = cheaper

P/E (TTM) 22.2× · Pricier than median
P/B 0.50× · Cheaper than 75% of peers
P/S (TTM) 0.46× · Cheaper than median
EV/EBITDA 7.2× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 29 · sector 13
FUTURE 100 · sector 0
PAST 12 · sector 23
HEALTH 98 · sector 97
DIVIDEND 0 · sector 52

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $40.51 $35.63 -12%
adidas AG 1ADS €158.15 €65.71 -58%
Deckers Outdoor Corporation DECK $93.84 $125.16 +33%
On Holding ONON $30.91 $17.53 -43%
Zhejiang China Commodities City Group 600415 ¥11.81 ¥13.03 +10%
Birkenstock Holding BIRK $36.74 $44.59 +21%
Crocs, Inc CROX $130.61 $203.65 +56%
Huali Industrial Group 300979 ¥36.73 ¥51.36 +40%
PUMA SE PUM €26.69 €10.57 -60%
Yue Yuen Industrial (Holdings) Limited 0551 HK$13.64 HK$4.04 -70%

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Frequently asked questions

Is AKI India Ltd (AKI) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹4.06 versus a price of ₹4.21, about −3% (fairly valued).
What is the fair value of AKI?
Our model-based fair value for AKI India Ltd is ₹4.06 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹4.21.
What is the quality score of AKI?
AKI India Ltd has a Quality Score of 25/100. 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 revenue of AKI India Ltd (AKI)?
AKI India Ltd reported trailing-twelve-month revenue of about ₹1.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of AKI?
The net profit margin of AKI India Ltd is about 2.2%, meaning it keeps roughly 2.2% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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