ALUWIND - Aluwind

📊 NSE: ALUWIND 🏢 Construction 📅 Last Updated: 12/13/2025 18:13

💰 Financial Performance

Revenue Growth by Segment

Revenue from operations grew 30.92% YoY, reaching INR 109.22 Cr in FY25 compared to INR 83.43 Cr in FY24, driven by the execution of high-value architectural infrastructure projects.

Geographic Revenue Split

Not disclosed in available documents; however, the company operates out of Mumbai and Surat, targeting large-scale urban infrastructure projects.

Profitability Margins

Net Profit Margin compressed from 9.04% in FY24 to 7.43% in FY25. Profit After Tax (PAT) stood at INR 8.12 Cr in FY25, a 7.65% increase from INR 7.54 Cr in FY24.

EBITDA Margin

EBITDA margin was 10.97% in FY25 (INR 11.98 Cr), down from 14.15% in FY24 (INR 11.81 Cr). The margin compression is primarily due to a 42.17% increase in raw material consumption costs.

Capital Expenditure

The company utilized INR 29.70 Cr from IPO proceeds by September 30, 2025, with INR 20.45 Cr allocated to working capital to support project scaling and INR 6.55 Cr for general corporate purposes.

Credit Rating & Borrowing

Finance costs increased by 49.48% YoY to INR 1.20 Cr in FY25. Long-term borrowings stood at INR 1.13 Cr as of March 31, 2025, up from INR 0.67 Cr in FY24.

⚙️ Operational Drivers

Raw Materials

Aluminium and Glass are the primary raw materials, with the total cost of materials consumed representing 75.74% of total revenue in FY25.

Capacity Expansion

The company is expanding its operational capacity using IPO proceeds of INR 29.70 Cr, specifically targeting working capital needs for larger project execution cycles.

Raw Material Costs

Raw material costs rose 42.17% to INR 82.74 Cr in FY25 from INR 58.20 Cr in FY24, significantly outpacing revenue growth and impacting gross margins.

Manufacturing Efficiency

Operational efficiency is linked to project execution cycles; the company reported that timely delivery of large-scale projects bolstered FY25 revenue.

Logistics & Distribution

Not disclosed as a specific percentage of revenue.

📈 Strategic Growth

Expected Growth Rate

31%

Growth Strategy

Growth will be achieved through the execution of a healthy order book in the high-value facade segment, utilizing INR 20.45 Cr of IPO funds for working capital, and expanding the footprint of its subsidiary, Aluwind Clean Tech Private Limited.

Products & Services

Aluminium Windows and Glass Facade Work, including fabrication and installation for architectural infrastructure.

Brand Portfolio

Aluwind Infra-Tech (formerly Aluwind Architectural).

New Products/Services

Expansion into 'Clean Tech' via its subsidiary Aluwind Clean Tech Private Limited, though specific revenue contribution percentages are not yet disclosed.

Market Expansion

Targeting high-value architectural infrastructure projects in urban centers to leverage its specialized fabrication capabilities.

🌍 External Factors

Industry Trends

The facade and fenestration industry is evolving toward energy-efficient and specialized architectural designs, with Aluwind positioning itself as a high-end infrastructure specialist.

Competitive Landscape

Operates in a capital-intensive sector with long gestation periods, competing with both organized and unorganized players in the architectural aluminium segment.

Competitive Moat

The company's moat is built on its ability to manage complex, long-gestation construction contracts (AS-7) and its specialized fabrication infrastructure, which are difficult for new entrants to replicate quickly.

Macro Economic Sensitivity

Highly sensitive to real estate and infrastructure cycles; performance is linked to macroeconomic conditions and regulatory frameworks governing construction.