Aspinwall & Co (ASPINWALL)

Score breakdown: P/E: 0/3 · ROCE: 0/2 · Growth: 2/2 · Dividend: 1/1

Key Financials

Strengths

• Price-to-book of 0.98 gives a small margin of safety versus book value of ₹238.67.
• Promoter holding of 64.46% aligns ownership with minority investors.
• Strong recent growth: sales up 26.61% and profit up 77.18%, with PEG of 0.58.
• Piotroski F-Score of 7/9 suggests improving financial health.
• Dividend yield of 3.02% and debt/equity of 0.44 offer shareholder reward and balance-sheet comfort.

Concerns

• ROCE of 8.84% is modest, implying mediocre capital efficiency and limited moat.
• Trailing P/E of 30.31 is high, while the latest quarter implies a much higher earnings run-rate; this inconsistency needs scrutiny.
• ROE is not available, so returns on equity cannot be verified.
• The share price is near the lower end of its 52-week range (₹200.25-₹299.80), showing market skepticism.

AI Analysis

At ₹234.99, Aspinwall trades at 0.98 times its book value of ₹238.67. That gives me some Graham-style margin of safety. But a low price-to-book is not enough if the business earns poor returns on those assets. ROCE is just 8.84%, ROE is not reported, so I cannot confirm this is a high-quality compounding machine. The balance sheet is manageable with debt/equity at 0.44, promoter holding is strong at 64.46%, and the 3.02% dividend yield gives me income while I wait. Recent momentum is eye-catching: sales grew 26.61% and profit grew 77.18%. The trailing P/E of 30.31 is not cheap, but the latest quarter's ₹114 Cr sales and ₹8 Cr net profit would annualize to roughly ₹32 Cr of profit, which conflicts with the multiple and needs explanation. If that quarterly profit is sustainable, the stock is far cheaper than the headline P/E suggests. The Piotroski F-Score of 7/9 and PEG of 0.58 support the case for continued improvement. I would not call this a wonderful business; it is an asset-backed, cyclical logistics player with decent financial health and high insider ownership. The value lies in the book asset floor, the dividend, and the optionality of recovery. I need to see whether returns on capital improve before treating it as a long-term compounding story.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer