Arix Energix Limited

Communication Services — Internet Content & Information · BSE

₹39.85−₹0.10 (−0.25%)

DalalBaazaar Score

35 / 100

🔴 Weak

Verdict

CAUTION

Risk

Very High

Driven by negative free cash flow, the company is currently loss-making, micro-cap size, which brings thin liquidity.

In simple words: The company is currently losing money, but sales are shrinking. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:02 pm

Understanding the Business

Company site ↗

The 60-second version of Arix Energix Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Arix Energix Limited operates as a web-infomedia company in India. The company operates through four segments: Web based Solution/Software Development; MagaZine /Info Media; Exhibition Management; and Investments/Treasury.

IndustryInternet Content & Information

SectorCommunication Services

Employees2

Annual revenue₹3 Cr

How does it make money?

Turns over ₹3 Cr a year. Of every ₹100 of sales, about ₹2 reaches shareholders as profit, with ₹-16 left at the operating level before interest, tax and depreciation. Each of its 2 employees supports ₹1.58 Cr of revenue a year, the signature of a capital- or asset-led business.

Revenue / employee₹1.58 Cr

Who are its competitors?

The closest listed comparisons in its industry are BHARTI AIRTEL LIMITED, VODAFONE IDEA LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of 1.5% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE20.2%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved -41% while net margin moved -98% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect-41%

Margin effect-98%

DalalBaazaar Score

35/ 100

Weak

Weighted across six categories. Every point is explained below.

✗ Revenue has contracted at 16.0% a year
✗ Profit has declined at 75.9% a year
✗ Latest-year revenue growth of -75.6% is below the longer-term trend — momentum is fading
✗ Profit fell 98.5% in the latest year

Quality vs. Valuation

Company Quality

34/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

29/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

No P/E — the company is lossmaking

EV/EBITDA

—

PEG

—

What's Good / What's Bad

🟢 What's Going Well1

Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention2

Return on equity is falling
ROE has dropped from 19.5% to 0.2% — each rupee of shareholder capital earns less than it did.
Return on capital is falling
ROCE has declined from 26.7% to 1.5% — often a sign of competition or overexpansion.

Red Flags

3 items require attention · 1 high · 2 watch

🔴Significant margin compressionFinancial
EBITDA margin has fallen 112.5 points, from 96.7% to -15.7%.
🟡Free cash flow is negativeFinancial
Free cash flow was -₹30 Cr in the latest year.
🟡Profit is decliningFinancial
Net profit is down 99% over 3 years.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

Margins are being competed away
EBITDA margin has fallen from 96.7% to -15.7%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
Returns on shareholder capital are falling
ROE has dropped from 19.5% to 0.2%. Each rupee of equity earns less than it did, so profit growth increasingly depends on raising more capital rather than on the existing base working harder.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above -18%✓ -15.7%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✗ -₹30 Cr
Profit that never becomes cash eventually stops being profit.
3ROCE stays above 8%✗ 1.5%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

3 / 10 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✗ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

0 good · 4 neutral · 7 weak

Market Cap

₹40 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

1.53x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹-1.45

Loss-making

Negative earnings per share — the business is losing money

ROE

0.2%

Weak

Weak capital efficiency

ROCE

1.5%

Weak

Low return on total capital employed

Debt/Equity

Not available

No data

Source didn't return this field

Revenue Growth (YoY)

-75.6%

Shrinking

Sales are contracting

Profit Growth (YoY)

-98.5%

Falling

Profits are shrinking

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹30 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

-166.4%

Weak

Thin margins leave little room for error

Net Margin

-126.7%

Weak

Very little revenue reaches the bottom line

Current Ratio

277.52

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.20

Defensive

Steadier than the market

52W Range Position

19%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

39.1 / 40.4

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

56.9

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹5 Cr	₹4 Cr	₹2 Cr	₹3 Cr	-16.0%
EBITDA	₹5 Cr	₹3 Cr	₹5 Cr	-₹0 Cr	—
EBITDA Margin	96.7%	86.3%	293.1%	-15.7%	—
PAT (Net Profit)	₹3 Cr	₹5 Cr	₹3 Cr	₹0 Cr	-75.9%
EPS	₹3.39	₹5.45	₹3.18	₹0.05	-75.5%
ROE	19.5%	23.8%	12.2%	0.2%	—
ROCE	26.7%	33.5%	18.7%	1.5%	—
Total Debt	₹0 Cr	₹0 Cr	₹0 Cr	—	—
Free Cash Flow	₹2 Cr	₹6 Cr	₹1 Cr	-₹30 Cr	—

🔴 Revenue has shrunk at 16.0% a year over 3 years.

🔴 EBITDA has turned negative, from ₹5 Cr to -₹0 Cr.

🔴 EBITDA Margin has fallen from 96.7% to -15.7% over 3 years (-112.5 pts).

🔴 PAT (Net Profit) has shrunk at 75.9% a year over 3 years.

🔴 EPS has shrunk at 75.5% a year over 3 years.

🔴 ROE has fallen from 19.5% to 0.2% over 3 years (-19.3 pts).

🔴 ROCE has fallen from 26.7% to 1.5% over 3 years (-25.2 pts).

🔴 Free Cash Flow has turned negative, from ₹2 Cr to -₹30 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹40 Cr

Total Liabilities

₹0 Cr

Cash & Equivalents

₹4 Cr

Operating Cash Flow

-₹30 Cr

Capex

-₹0 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

66.1%

Corporate Actions

Ex-Dividend Date

20 Sept 2017

Peer Comparison

Company	P/E	ROE
BHARTI AIRTEL LIMITED	39.8x	20.2%
VODAFONE IDEA LIMITED	3.6x	—

Recent News

2 mixed4 general

Jupiter Infomedia Ltd changes name to Arix Energix Limited

scanx.trade, 14 Oct

Arix Energix sets Sept 29 for 21st AGM with e-voting facility

scanx.trade, 29 Sept

Arix Capital Limited completed the acquisition of 51% stake in Jupiter Infomedia Limited from Umesh Vasantlal Modi, Kusumben Vasantlal Modi and Manisha Umesh Modi.

marketscreener.com, 26 MarM&A

🟡Mixed / dependsAcquisitions change the balance sheet before they change the earnings. Look at what was paid, how it was funded, and whether debt rose.

Jupiter Infomedia incorporates UAE subsidiary for metal trading expansion

scanx.trade, 16 SeptCapacity

🟡Mixed / dependsCapacity additions can raise revenue over two to three years, but the capital spend usually pressures free cash flow first. Worth checking whether the capex is funded from operations or from borrowing.

RBI approves Anshul Laxkar as Executive Director at Jineshvar Securities

scanx.trade, 10 Oct

Mid Day Bell: Sensex Outperforms Nifty as Castings & Gems Lead Gains

scanx.trade, 29 Sept

Watch Items

Revenue growth is negative (-75.6%) on the latest reported period — check if this is one-off or a trend.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.

DalalBaazaar Thesis

StrongFinancial Health

WeakBusiness Quality · Growth · Profitability · Valuation · Risk

Points for each in the Score ↑

Weak on the fundamentals

Poor scores on business quality without a price low enough to compensate. There is no obvious argument for owning this over a stronger company at a similar valuation. 1 high-severity red flag sits above this conclusion and should be read first.

2 of 3 tripwires tripped — Free cash flow remains positive; ROCE stays above 8% · see Key things to watch ↑