Armour Security (India) Limited is a private security and manpower services company providing security guarding, housekeeping, integrated facility management, and manpower outsourcing services. The company earns revenue through long-term service contracts with government bodies, public institutions, and corporate clients. Its services are used across educational institutions, government departments, judicial authorities, telecom companies, and commercial establishments on a continuous basis.

The Company is led by Promoter, i.e.,MRS. ARNIMA GUPTA AND MR. VINOD GUPTA

The Revenues from operations for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 1,969.30 Lakh, ₹ 3,656.04 Lakh, ₹ 3,310.10Lakh, and ₹ 2,897.08 Lakh, The EBITDA for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 429.69 Lakh, ₹ 496.86 Lakh, ₹ 367.29 Lakh, and ₹ 311.81 Lakh, The Profit after Tax for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 290.45 Lakh, ₹ 397.35 Lakh, ₹ 261.76 Lakh, and ₹ 225.66 Lakh, respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue  EPS of ₹ 3.25 and post-issue EPS of ₹ 2.36 for FY25. The pre-issue P/E ratio is 17.54x,while the post-issue P/E ratio is 24.20x against the Industry P/E ratio is 34.12 The company's ROE for FY25 is 21.56% and RoNW is 21.56% The Annualised EPS is ₹ 3.44x and P/E is 16.55x.  These metrics suggest that the IPO is Fully priced.

 
The Grey Market Premium (GMP) of Armour Security India showing listing gains of 0%.Given the company's financial performance and the valuation of the IPO, we recommend  Investors to Avoid to the Armour Security India Limited.