Anand I-Power Ltd
ANAND Group's piston-ring maker (the old Perfect Circle India), delisted long ago and quoted at ₹20 against ₹100 Cr of revenue and small losses.
Market cap
₹26.67 Cr
1.33 Cr shares
P/E ratio
Loss making
Sector average 25
Book value
₹61.89
P/B 0.32
1-year return
+0.00%
52w ₹20 – ₹20
Currently 0% of the way through its 52-week range.
Indicative price history
1Y change
+0.00% ₹20 → ₹20
52-week band in this window: ₹20.00 – ₹20.00. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Piston-ring maker at Nashik since 1962 (formerly Perfect Circle India); ANAND Group company.
- Revenue about ₹101 Cr; net loss ₹3.32 Cr in the latest year.
- 1.33 Cr shares of ₹10; quote ₹20 is about 0.3 times estimated book value.
About Anand I-Power
Anand I-Power Limited was incorporated on 6 April 1962 as Perfect Circle India Limited, a joint venture of the ANAND Group with Dana Corporation's Perfect Circle division, to make piston rings at Nashik. The company was delisted from the stock exchanges in the 2000s and renamed Anand I-Power; it remains part of the ANAND Group (Gabriel, Anand Mando, Spicer India) with its plant at Satpur MIDC, Nashik.
It manufactures compression and oil-control piston rings, groove and alfin inserts, clutch plates and flat plates, with newer moly-plasma, chrome scraper, PVD-coated and DLC rings for BS-VI and export engines. Paid-up capital is ₹13.33 Cr (1.33 Cr shares of ₹10).
Revenue recovered from ₹76 Cr in FY21 to ₹106 Cr in FY22 (+39%) and has stayed near ₹100 Cr since; the latest year shows revenue of about ₹101 Cr with a net loss of ₹3.32 Cr and a three-year average return on equity of -3.4%. The ₹20 quote values the company at about ₹27 Cr, a fraction of estimated book value.
Figures preliminary; verify from MCA filings. Financial line items on this page are compiled from dealer summaries and registry snapshots; where a year is not disclosed, minimal estimates are shown and marked preliminary.
Where the revenue comes from
- Piston rings (OEM)70%
Compression and oil-control rings for auto and tractor engines
- Aftermarket & exports20%
Replacement rings and export orders
- Clutch plates, inserts & others10%
Groove/alfin inserts, flat plates
Products & services
Piston rings
Compression rings, oil-control rings, moly-plasma, chrome, PVD and DLC-coated rings.
Inserts & plates
Groove/alfin inserts, clutch plates and flat plates.
What works
- • ANAND Group parentage and OEM relationships across tractors, two-wheelers and commercial vehicles.
- • Established Nashik plant with coated-ring technology relevant to BS-VI engines.
- • Quote of ₹20 is roughly 0.3 times estimated book value.
What to watch
- • Loss-making: net loss of ₹3.32 Cr on ₹101 Cr revenue; ROE negative for three years.
- • Piston rings face volume erosion as electric vehicles scale and engine counts fall.
- • Delisted status and group control leave minority holders with dealer-only exit.
- • Figures preliminary; verify from MCA filings.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| Anand I-PowerThis page | ₹20.00 | ₹26.67 Cr | — | 0.32 | -1.45% |
| Axles India | ₹458.00 | ₹732.8 Cr | 12.21 | 1.83 | -1.94% |
| Elofic | ₹3,150.00 | ₹787.5 Cr | 16.41 | 2.96 | +8.01% |
| Ring Plus Aqua | ₹920.00 | ₹312.8 Cr | 6.52 | 1.05 | +6.90% |
Latest reported year: FY25 ending 31 Mar 2025.