Miscellaneous · Founded 1990 · www.adtechindia.com · BSE 544185 · · ISIN INE257C01014
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Business
Adtech Systems Ltd. (Ticker: ADTECH) operates within the "Miscellaneous" sector and industry in India. Given this classification, the company's core business is not specifically defined but generally involves providing a diverse range of products, services, or solutions to clients. It likely operates in various market segments, potentially catering to both business-to-business (B2B) and/or business-to-consumer (B2C) clients. The company makes money through the sale of its offerings, which could include project-based services, product sales, or recurring service fees, depending on its specific, undisclosed operations.
Revenue Mix
Information on specific business segments or a detailed revenue mix for Adtech Systems Ltd. is not available. As a "Miscellaneous" company, its revenue streams could be diversified across different product lines, service offerings, or client types, but without specific data, a breakdown cannot be provided.
Industry
Operating in the "Miscellaneous" sector and industry in India implies that Adtech Systems Ltd. exists within a broad and potentially fragmented market space, rather than a clearly defined industry with specific structures (e.g., oligopoly, monopoly). Its competition would likely be diverse, ranging from smaller niche players to larger conglomerates, depending on the specific sub-markets it addresses. Without knowing its core offerings, its precise positioning against peers (e.g., cost leader, premium provider, niche specialist) cannot be determined. It likely operates by identifying and serving specific market needs that may not fit neatly into conventional industry classifications.
MOAT
Without specific details about its operations, it is difficult to ascertain if Adtech Systems Ltd. possesses strong, durable competitive advantages (moats). Potential moats for a company in a "Miscellaneous" sector might include deep local market knowledge, strong customer relationships built over time, operational efficiencies leading to cost advantages, specialized expertise in a particular niche, or proprietary processes/technology (if applicable). However, the existence or strength of such advantages cannot be confirmed from the available information.
Growth Drivers
Key factors that could drive growth for Adtech Systems Ltd. over the next 3-5 years include:
Indian Economic Growth: General economic expansion in India can increase overall demand for goods and services across various sectors.
Market Diversification: Successfully identifying and entering new, underserved niche markets or expanding its existing service/product portfolio.
Digital Transformation: Leveraging increasing digitalization trends across businesses and consumers, if its offerings are technologically aligned.
Geographic Expansion: Expanding its operational footprint within India or to other regions.
Operational Efficiency: Improving internal processes to reduce costs and increase profitability, allowing for competitive pricing or higher margins.
Risks
Adtech Systems Ltd. faces several business risks, common to many companies in India and the "Miscellaneous" sector:
Intense Competition: Operating in a potentially undefined market means competition can arise from various angles, making differentiation challenging.
Economic Downturns: Broader economic slowdowns in India can impact demand across multiple sectors, affecting revenue.
Regulatory Changes: Changes in Indian regulations, taxation policies, or industry-specific compliance requirements could impact operations and costs.
Technological Obsolescence: If its offerings rely on specific technologies, rapid technological shifts could render them less competitive.
Talent Retention: Difficulty in attracting and retaining skilled personnel, particularly in a diverse business context.
Client Concentration: Potential over-reliance on a few key clients, making revenue vulnerable to changes in those client relationships.
Management & Ownership
Information regarding the promoters, specific management quality, or detailed ownership structure of Adtech Systems Ltd. is not provided. Typically, Indian companies may have significant promoter group ownership, alongside institutional investors and public shareholders. The quality of management and governance practices are crucial for long-term success but cannot be assessed here.
Outlook
Adtech Systems Ltd., as a company in the "Miscellaneous" sector, presents an outlook with both opportunities and challenges. The bull case suggests that the company could capitalize on India's dynamic economic growth, leverage any niche expertise it possesses, and successfully diversify its offerings to address evolving market demands. Its ability to maintain operational flexibility and strong client relationships could enable steady growth. The bear case highlights risks such as intense and undefined competition, the potential lack of a clear competitive moat, and vulnerability to broad economic or regulatory shifts. Without a specific business focus, scaling operations and achieving strong brand recognition might be more challenging, potentially leading to inconsistent performance.
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 14 | 10 | 14 | 12 | 12 | 9 | 14 | 8 | 16 | 13 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 14 | 10 | 15 | 12 | 12 | 9 | 14 | 8 | 16 | 14 |
| Total Expenditure | 14 | 8 | 12 | 10 | 11 | 8 | 11 | 7 | 15 | 14 |
| Operating Profit | 0 | 2 | 3 | 2 | 1 | 1 | 3 | 1 | 1 | -0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 1 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 1 | 2 | 2 | 1 | 1 | 2 | 1 | 1 | -1 |
| Provision for Tax | -0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Profit After Tax | 0 | 0 | 2 | 1 | 1 | 1 | 2 | 0 | 0 | -1 |
| Adjustments | 0 | 0 | -0 | 0 | -0 | -0 | 0 | 0 | -0 | 0 |
| Profit After Adjustments | 0 | 0 | 2 | 1 | 1 | 1 | 2 | 0 | 0 | -1 |
| Adjusted Earnings Per Share | 0.3 | 0.4 | 1.5 | 1.1 | 0.7 | 0.6 | 1.5 | 0.4 | 0.4 | -0.4 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 63 | 43 | 36 | 57 | 49 | 47 | 70 | 79 | 61 | 55 | 48 | 51 |
| Other Income | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Total Income | 65 | 44 | 37 | 58 | 50 | 47 | 71 | 80 | 62 | 56 | 49 | 52 |
| Total Expenditure | 55 | 39 | 33 | 52 | 44 | 43 | 64 | 75 | 54 | 49 | 41 | 47 |
| Operating Profit | 10 | 5 | 4 | 6 | 6 | 4 | 7 | 5 | 8 | 7 | 8 | 5 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 2 | 1 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 0 |
| Exceptional Income / Expenses | -0 | 0 | -0 | -0 | -0 | -0 | -0 | 0 | -0 | 1 | -1 | 0 |
| Profit Before Tax | 10 | 5 | 3 | 6 | 6 | 4 | 4 | 2 | 5 | 5 | 6 | 3 |
| Provision for Tax | 3 | 2 | 1 | 2 | 2 | 1 | 1 | 0 | 1 | 1 | 1 | 1 |
| Profit After Tax | 6 | 3 | 2 | 4 | 4 | 3 | 3 | 2 | 4 | 4 | 4 | 1 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 6 | 3 | 2 | 4 | 4 | 3 | 3 | 2 | 4 | 4 | 4 | 1 |
| Adjusted Earnings Per Share | 27 | 12.7 | 9.5 | 3.1 | 3.4 | 2.1 | 2.3 | 1.4 | 3 | 3.5 | 3.7 | 1.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -13% | -15% | 0% | -3% |
| Operating Profit CAGR | 14% | 17% | 15% | -2% |
| PAT CAGR | 0% | 26% | 6% | -4% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -51% | NA% | NA% | NA% |
| ROE Average | 9% | 9% | 7% | 10% |
| ROCE Average | 12% | 11% | 10% | 14% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 29 | 31 | 32 | 36 | 39 | 40 | 42 | 43 | 46 | 49 | 52 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Total Current Liabilities | 23 | 16 | 14 | 20 | 23 | 12 | 38 | 34 | 22 | 12 | 9 |
| Total Liabilities | 52 | 47 | 47 | 57 | 63 | 53 | 82 | 79 | 68 | 61 | 62 |
| Fixed Assets | 2 | 2 | 2 | 6 | 5 | 8 | 9 | 10 | 9 | 9 | 7 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 2 | 5 | 6 | 4 | 4 | 4 | 4 |
| Total Current Assets | 50 | 45 | 45 | 51 | 56 | 40 | 67 | 65 | 55 | 49 | 50 |
| Total Assets | 52 | 47 | 47 | 57 | 63 | 53 | 82 | 79 | 68 | 61 | 62 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 12 | 11 | 10 | 6 | 4 | 8 | 1 | 2 | 7 | 1 | 0 |
| Cash Flow from Operating Activities | -0 | -0 | 0 | 2 | 2 | -2 | -11 | 11 | 4 | 8 | 6 |
| Cash Flow from Investing Activities | -1 | -0 | -5 | -3 | 4 | -7 | -7 | -1 | 2 | 0 | -0 |
| Cash Flow from Financing Activities | 1 | 0 | 1 | -2 | -1 | 2 | 19 | -6 | -11 | -9 | -5 |
| Net Cash Inflow / Outflow | -1 | -0 | -4 | -2 | 5 | -7 | 1 | 5 | -6 | -1 | 1 |
| Closing Cash & Cash Equivalent | 11 | 11 | 6 | 4 | 8 | 1 | 2 | 7 | 1 | 0 | 2 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 27.04 | 12.69 | 9.51 | 3.08 | 3.37 | 2.1 | 2.31 | 1.35 | 3.02 | 3.48 | 3.68 |
| CEPS(Rs) | 27.65 | 13.11 | 10.02 | 3.24 | 3.72 | 2.46 | 3.15 | 2.4 | 3.88 | 4.38 | 4.29 |
| DPS(Rs) | 3 | 2.5 | 2.5 | 0.5 | 0.7 | 0.7 | 0.5 | 0.5 | 1 | 1 | 1 |
| Book NAV/Share(Rs) | 118.09 | 127.77 | 134.27 | 29.59 | 32.12 | 33.38 | 35.19 | 36.04 | 38.06 | 40.54 | 43.22 |
| Core EBITDA Margin(%) | 13.11 | 8.6 | 7.84 | 9.85 | 11.14 | 7.78 | 8.28 | 5.42 | 10.89 | 10.54 | 13.41 |
| EBIT Margin(%) | 15.17 | 10.57 | 9.48 | 10.2 | 11.7 | 7.95 | 7.8 | 5.02 | 10.7 | 11.62 | 12.75 |
| Pre Tax Margin(%) | 15.15 | 10.52 | 9.4 | 9.75 | 11.51 | 7.52 | 5.43 | 2.52 | 7.83 | 9.76 | 12.18 |
| PAT Margin (%) | 10.16 | 7.03 | 6.29 | 6.41 | 8.15 | 5.36 | 3.91 | 2.03 | 5.88 | 7.54 | 9.17 |
| Cash Profit Margin (%) | 10.39 | 7.27 | 6.63 | 6.73 | 8.98 | 6.27 | 5.34 | 3.61 | 7.56 | 9.48 | 10.71 |
| ROA(%) | 13.28 | 6.1 | 4.82 | 7.08 | 6.69 | 4.3 | 4.07 | 2 | 4.87 | 6.4 | 7.13 |
| ROE(%) | 25.39 | 10.32 | 7.26 | 10.92 | 10.93 | 6.42 | 6.74 | 3.8 | 8.14 | 8.87 | 8.78 |
| ROCE(%) | 37.34 | 15.31 | 10.54 | 16.61 | 15.23 | 8.98 | 9.95 | 6.1 | 10.79 | 11.64 | 11.65 |
| Receivable days | 79.93 | 103.74 | 105.31 | 96.43 | 137.6 | 124.31 | 116.12 | 130.94 | 141.03 | 130.89 | 143.64 |
| Inventory Days | 66.91 | 92.84 | 100.46 | 67.41 | 95.25 | 102.37 | 62.72 | 50.85 | 65.34 | 82.06 | 85.26 |
| Payable days | 93.15 | 89.25 | 63.81 | 71.11 | 119.88 | 102.21 | 61.03 | 69.06 | 71.35 | 45.09 | 45.43 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16.61 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.41 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.64 |
| EV/Net Sales(x) | -0.14 | -0.2 | -0.1 | 0.1 | 0.08 | 0.27 | 0.4 | 0.23 | 0.27 | 0.17 | 1.35 |
| EV/Core EBITDA(x) | -0.88 | -1.82 | -0.98 | 0.94 | 0.63 | 3.02 | 4.31 | 3.63 | 2.17 | 1.38 | 8.56 |
| Net Sales Growth(%) | -16.52 | -32.18 | -16.25 | 59.12 | -14.06 | -5.14 | 50.43 | 12.92 | -23.02 | -9.88 | -13.28 |
| EBIT Growth(%) | -3.17 | -52.75 | -24.87 | 71.16 | -1.28 | -35.6 | 47.52 | -27.38 | 64.22 | -2.14 | -4.85 |
| PAT Growth(%) | -3.64 | -53.07 | -25.03 | 61.99 | 9.45 | -37.7 | 9.88 | -41.43 | 122.98 | 15.51 | 5.51 |
| EPS Growth(%) | -3.64 | -53.07 | -25.03 | -67.6 | 9.45 | -37.7 | 9.88 | -41.43 | 122.98 | 15.51 | 5.51 |
| Debt/Equity(x) | 0 | 0 | 0.05 | 0.02 | 0.02 | 0.08 | 0.58 | 0.47 | 0.25 | 0.08 | 0 |
| Current Ratio(x) | 2.17 | 2.82 | 3.17 | 2.56 | 2.4 | 3.43 | 1.76 | 1.89 | 2.54 | 4.2 | 5.6 |
| Quick Ratio(x) | 1.61 | 2.25 | 2.41 | 2.04 | 1.74 | 2.5 | 1.41 | 1.63 | 1.94 | 3.19 | 4.42 |
| Interest Cover(x) | 660.11 | 228.2 | 115.86 | 22.81 | 60.32 | 18.5 | 3.29 | 2.01 | 3.72 | 6.22 | 22.36 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 67.88 | 67.88 | 67.88 | 67.88 | 67.88 | 67.88 | 67.88 | 67.88 | 67.88 | 68.16 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 |
| Public | 31.28 | 31.28 | 31.28 | 31.28 | 31.28 | 31.28 | 31.28 | 31.28 | 31.28 | 31 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -13% | -15% | 0% | -3% |
| Operating Profit CAGR | +14% | +17% | +15% | -2% |
| PAT CAGR | 0% | +26% | +6% | -4% |
| Share Price CAGR | -51% | — | — | — |
| ROE Average | +9% | +9% | +7% | +10% |
| ROCE Average | +12% | +11% | +10% | +14% |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 67.88 | 67.88 | 67.88 | 67.88 | 67.88 | 67.88 | 67.88 | 67.88 | 67.88 | 68.16 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 |
| Public | 31.28 | 31.28 | 31.28 | 31.28 | 31.28 | 31.28 | 31.28 | 31.28 | 31.28 | 31 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 |
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