e-Commerce · Founded 2007 · www.acevector.com · BSE 544962 · NSE ACEVECTOR · ISIN INE580P01029
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Business
AceVector Ltd. operates in the e-commerce sector in India. As an e-commerce company, its core business typically involves facilitating online transactions for various goods and services. This can be through a marketplace model, where it connects independent sellers with buyers and earns commissions on sales, or a direct-to-consumer (D2C) model, where it sells its own inventory. The company makes money primarily through sales commissions, listing fees for sellers, advertising revenue from brands promoting products on its platform, and potentially revenue from fulfillment and logistics services provided to sellers.
Revenue Mix
Without specific financial data, AceVector's revenue is likely derived from various product categories typical of a general e-commerce platform, such as electronics, fashion, home goods, groceries, and potentially other lifestyle products. The company may also generate revenue from value-added services like digital payments, logistics solutions for third-party sellers, or subscription programs for customers or sellers. Specific contribution breakdowns by product category or service are not available.
Industry
The Indian e-commerce industry is one of the fastest-growing globally, characterized by high competition. It is dominated by well-funded domestic and international players like Amazon India, Flipkart (Walmart-owned), and JioMart. AceVector operates within this dynamic landscape, potentially targeting specific niches, offering differentiated services, or competing directly across various product categories. Its positioning would depend on its market share, unique value proposition, and efficiency in logistics and customer acquisition compared to established giants and emerging startups.
MOAT
Developing a durable competitive advantage in the Indian e-commerce sector is challenging due to intense competition and capital requirements. Potential moats for AceVector could include:
Efficient Logistics Network: A robust and cost-effective delivery infrastructure, especially in tier-2 and tier-3 cities.
Strong Brand Recognition/Customer Loyalty: Building a trusted brand that resonates with a specific customer segment.
Seller Network: A wide and exclusive network of sellers offering unique or competitively priced products.
Data & Personalization: Leveraging user data to offer highly personalized shopping experiences.
Localized Offerings: Tailoring products and services to specific regional tastes and languages. However, these advantages require significant investment and execution to sustain against larger players.
Growth Drivers
Key factors driving AceVector's potential growth over the next 3-5 years include:
Increasing Internet Penetration: Continued rise in smartphone and internet users across India.
Rising Disposable Incomes: Growth of the middle class leading to increased online spending.
Digital Payment Adoption: Expansion of digital payment infrastructure and consumer comfort with online transactions.
Tier-2/3 City Expansion: Untapped potential in smaller cities and towns adopting e-commerce.
Category Expansion: Launching new product categories or services to broaden its market appeal.
Logistics Improvement: Investing in faster, more reliable, and cost-efficient supply chain solutions.
Risks
Intense Competition: High competitive pressure from large, well-funded players leading to price wars and high marketing costs.
Profitability Challenges: Difficulty in achieving sustained profitability due to high customer acquisition costs, logistics expenses, and low margins.
Regulatory Changes: Evolving government regulations concerning e-commerce (e.g., FDI rules, consumer protection, data privacy) could impact operations.
Logistics & Supply Chain Disruptions: Inefficiencies or disruptions in the supply chain can severely impact customer experience and delivery timelines.
Cybersecurity & Data Privacy: Risks of data breaches and maintaining customer trust in handling sensitive information.
Evolving Consumer Preferences: Rapid shifts in consumer tastes and expectations requiring constant adaptation.
Management & Ownership
AceVector Ltd. is an Indian company. Typically, an e-commerce company of this nature would have promoters and a management team with significant experience in technology, retail, logistics, and digital marketing. The ownership structure likely includes the founding promoters, potentially venture capital or private equity funds, and institutional investors if it is publicly traded. Specific details about the key promoters, the quality of its management team, or its detailed ownership breakdown are not provided.
Outlook
AceVector operates in a fundamentally attractive market due to India's vast and underserved digital consumer base, suggesting significant long-term growth potential for e-commerce. The company can leverage increasing internet penetration and digital payment adoption to expand its customer base and transaction volumes. However, the outlook is balanced by the extremely competitive landscape, where established players hold significant market share and capital. AceVector's success hinges on its ability to carve out a sustainable niche, build strong operational efficiencies (especially in logistics), manage regulatory changes effectively, and achieve profitability amidst intense pricing pressures. Maintaining a strong balance sheet and prudent capital allocation will be crucial for navigating the evolving Indian e-commerce market.
| #(Fig in Cr.) |
|---|
| Net Sales |
| Other Income |
| Total Income |
| Total Expenditure |
| Operating Profit |
| Interest |
| Depreciation |
| Exceptional Income / Expenses |
| Profit Before Tax |
| Provision for Tax |
| Profit After Tax |
| Adjustments |
| Profit After Adjustments |
| Adjusted Earnings Per Share |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1214 | 904 | 436 | 839 | 846 | 472 | 540 | 372 | 380 | 395 | 510 | |
| Other Income | 293 | 302 | 132 | 94 | 70 | 46 | 41 | 16 | 14 | 33 | 43 | |
| Total Income | 1507 | 1206 | 568 | 933 | 917 | 518 | 581 | 388 | 394 | 428 | 553 | |
| Total Expenditure | 4756 | 3536 | 879 | 1096 | 1179 | 593 | 1065 | 658 | 427 | 463 | 575 | |
| Operating Profit | -3249 | -2330 | -311 | -163 | -263 | -74 | -485 | -270 | -33 | -34 | -22 | |
| Interest | 5 | 35 | 4 | 3 | 1 | 1 | 2 | 1 | 2 | 2 | 2 | |
| Depreciation | 40 | 53 | 47 | 22 | 30 | 50 | 20 | 12 | 8 | 11 | 13 | |
| Exceptional Income / Expenses | 0 | -2196 | -251 | 0 | 21 | 0 | 0 | 18 | -3 | -74 | 0 | |
| Profit Before Tax | -3293 | -4614 | -613 | -187 | -273 | -126 | -510 | -265 | -46 | -121 | -38 | |
| Provision for Tax | 0 | 0 | 0 | 1 | 0 | 1 | 1 | 2 | 6 | 6 | 8 | |
| Profit After Tax | -3293 | -4614 | -613 | -189 | -273 | -127 | -510 | -268 | -51 | -126 | -46 | |
| Adjustments | -22 | -33 | 0 | 2 | -0 | 2 | 0 | -3 | -7 | -13 | -15 | |
| Profit After Adjustments | -3316 | -4647 | -613 | -187 | -274 | -125 | -510 | -270 | -58 | -139 | -61 | |
| Adjusted Earnings Per Share | -690.7 | -968.1 | -191.6 | -4.9 | -6.9 | -3.2 | -12.8 | -6.8 | -1.5 | -3.5 | -1.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 29% | 11% | 2% | -8% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | NA% | NA% | NA% | NA% |
| ROE Average | 0% | 0% | -81% | -68% |
| ROCE Average | -31% | -10% | -95% | -72% |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 5936 | 1472 | 817 | 645 | 653 | 519 | 158 | 23 | -142 | 126 | 102 |
| Minority's Interest | 17 | 3 | 0 | 0 | 0 | 0 | 0 | 5 | 20 | 62 | 158 |
| Borrowings | 19 | 43 | 13 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 37 | 13 | 7 | 9 | 17 | 14 | 131 | 142 | 329 | 28 | 31 |
| Total Current Liabilities | 852 | 774 | 497 | 693 | 255 | 262 | 321 | 209 | 201 | 338 | 281 |
| Total Liabilities | 6860 | 2306 | 1335 | 1347 | 925 | 795 | 610 | 379 | 408 | 554 | 572 |
| Fixed Assets | 2323 | 239 | 72 | 146 | 150 | 112 | 101 | 89 | 99 | 251 | 258 |
| Other Non-Current Assets | 691 | 166 | 82 | 81 | 85 | 33 | 58 | 104 | 92 | 45 | 53 |
| Total Current Assets | 3846 | 1902 | 1181 | 1120 | 690 | 650 | 452 | 186 | 217 | 258 | 261 |
| Total Assets | 6860 | 2306 | 1335 | 1347 | 925 | 795 | 610 | 379 | 408 | 554 | 572 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 240 | 35 | 36 | 82 | 14 | 2 | 48 | 40 | 29 | 11 | 8 |
| Cash Flow from Operating Activities | -3504 | -2665 | -262 | -36 | -372 | -91 | -338 | -209 | -55 | -27 | -2 |
| Cash Flow from Investing Activities | -282 | 2457 | 353 | -0 | 363 | 141 | 238 | 169 | -33 | -103 | 18 |
| Cash Flow from Financing Activities | 3580 | 209 | -45 | -31 | -3 | -4 | 93 | 30 | 69 | 127 | -6 |
| Net Cash Inflow / Outflow | -205 | 2 | 46 | -68 | -12 | 45 | -8 | -11 | -18 | -3 | 10 |
| Closing Cash & Cash Equivalent | 35 | 36 | 82 | 14 | 2 | 48 | 40 | 29 | 11 | 8 | 17 |
| # | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -690.73 | -968.15 | -191.56 | -4.86 | -6.95 | -3.19 | -12.84 | -6.8 | -1.46 | -3.5 | -1.35 |
| CEPS(Rs) | 0 | 0 | 0 | -4.34 | -6.17 | -1.95 | -12.33 | -6.43 | -1.09 | -2.9 | -0.71 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 1179.88 | 301.44 | 247.44 | 15.76 | 15.19 | 12.27 | -5.85 | -12.15 | -16.02 | -9.04 | -2.5 |
| Core EBITDA Margin(%) | -291.64 | -291.26 | -101.49 | -30.53 | -39.33 | -25.6 | -97.4 | -76.82 | -12.45 | -17.08 | -12.66 |
| EBIT Margin(%) | -270.84 | -506.63 | -139.58 | -22 | -32.14 | -26.43 | -94.02 | -70.96 | -11.48 | -30.08 | -6.93 |
| Pre Tax Margin(%) | -271.21 | -510.5 | -140.56 | -22.3 | -32.31 | -26.73 | -94.43 | -71.28 | -12.05 | -30.53 | -7.36 |
| PAT Margin (%) | -271.22 | -510.53 | -140.56 | -22.46 | -32.31 | -26.92 | -94.57 | -71.92 | -13.51 | -31.97 | -8.92 |
| Cash Profit Margin (%) | -267.93 | -504.7 | -129.74 | -19.84 | -28.71 | -16.26 | -90.78 | -68.65 | -11.45 | -29.15 | -6.31 |
| ROA(%) | -49.68 | -100.68 | -33.67 | -14.06 | -24.07 | -14.76 | -72.63 | -54.08 | -13.03 | -26.27 | -8.09 |
| ROE(%) | -59.19 | -129.79 | -54.76 | -26.99 | -45.46 | -23.49 | -407.12 | 0 | 0 | 0 | 0 |
| ROCE(%) | -56.94 | -121.13 | -50.28 | -24.08 | -41.46 | -21.27 | -149.91 | -292.32 | 0 | 0 | -30.89 |
| Receivable days | 6.78 | 22.09 | 37.87 | 3.54 | 3.99 | 7.32 | 9.3 | 16.18 | 24.02 | 27.52 | 17.83 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.85 | 5.47 | 4.03 | 1.42 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1693.15 | 2801.86 | 5390.09 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | -0.82 | -0.34 | -0.64 | -0.32 | -0.1 | -0.57 | -0.27 | 0.02 | 0.07 | -0.05 | 0.05 |
| EV/Core EBITDA(x) | 0.3 | 0.13 | 0.89 | 1.64 | 0.32 | 3.61 | 0.3 | -0.03 | -0.86 | 0.59 | -1.11 |
| Net Sales Growth(%) | 58.38 | -25.57 | -51.75 | 92.48 | 0.83 | -44.26 | 14.38 | -31.06 | 2.1 | 4.02 | 29.2 |
| EBIT Growth(%) | -148.42 | -39.23 | 86.71 | 69.66 | -47.28 | 54.17 | -306.89 | 47.97 | 83.49 | -172.67 | 70.25 |
| PAT Growth(%) | -148.6 | -40.1 | 86.71 | 69.25 | -45.07 | 53.56 | -301.87 | 47.57 | 80.83 | -146.22 | 63.97 |
| EPS Growth(%) | -149.66 | -40.16 | 80.21 | 97.46 | -43.02 | 54.14 | -303.01 | 47.05 | 78.59 | -140.66 | 61.53 |
| Debt/Equity(x) | 0.01 | 0.05 | 0.07 | 0.02 | 0 | 0 | 0 | 0 | 0 | -0 | 0 |
| Current Ratio(x) | 4.52 | 2.46 | 2.38 | 1.62 | 2.71 | 2.48 | 1.41 | 0.89 | 1.08 | 0.76 | 0.93 |
| Quick Ratio(x) | 4.52 | 2.46 | 2.38 | 1.62 | 2.71 | 2.48 | 1.41 | 0.87 | 1.04 | 0.76 | 0.92 |
| Interest Cover(x) | -730.84 | -130.83 | -141.56 | -73.88 | -191.44 | -88.99 | -227.39 | -219.41 | -20.04 | -67.79 | -16.05 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Sep 2013 | Aug 2014 | Sep 2015 | Sep 2016 | Sep 2017 | Sep 2018 | Mar 2019 | Mar 2020 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0 | 0 | 62.47 | 58.46 | 58.46 | 75.86 | 7.1 | 7.56 | 49.96 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18.26 |
| DII | 0 | 0 | 0 | 3.54 | 3.54 | 4.59 | 1.65 | 1.32 | 13.33 |
| Public | 100 | 100 | 37.53 | 38 | 38 | 19.56 | 91.25 | 91.13 | 18.44 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2013 | Aug 2014 | Sep 2015 | Sep 2016 | Sep 2017 | Sep 2018 | Mar 2019 | Mar 2020 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0 | 0 | 0 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 27.19 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.94 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.26 |
| Public | 0 | 0 | 0 | 0.01 | 0.01 | 0 | 0.22 | 0.22 | 10.03 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0 | 0 | 0 | 0.03 | 0.03 | 0.02 | 0.25 | 0.25 | 54.42 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +29% | +11% | +2% | -8% |
| Operating Profit CAGR | — | — | — | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | — | — | — | — |
| ROE Average | 0% | 0% | -81% | -68% |
| ROCE Average | -31% | -10% | -95% | -72% |
| # | Sep 2013 | Aug 2014 | Sep 2015 | Sep 2016 | Sep 2017 | Sep 2018 | Mar 2019 | Mar 2020 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0 | 0 | 62.47 | 58.46 | 58.46 | 75.86 | 7.1 | 7.56 | 49.96 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18.26 |
| DII | 0 | 0 | 0 | 3.54 | 3.54 | 4.59 | 1.65 | 1.32 | 13.33 |
| Public | 100 | 100 | 37.53 | 38 | 38 | 19.56 | 91.25 | 91.13 | 18.44 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2013 | Aug 2014 | Sep 2015 | Sep 2016 | Sep 2017 | Sep 2018 | Mar 2019 | Mar 2020 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0 | 0 | 0 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 27.19 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.94 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.26 |
| Public | 0 | 0 | 0 | 0.01 | 0.01 | 0 | 0.22 | 0.22 | 10.03 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0 | 0 | 0 | 0.03 | 0.03 | 0.02 | 0.25 | 0.25 | 54.42 |
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