Key Financials Snapshot

TTM · Standalone · ₹ in Cr
Market Cap
₹4 Cr.
Stock P/E
0.7
P/B
-0.7
Current Price
₹4.5
Book Value
₹ -6.7
Face Value
10
52W High
—
52W Low
—
Dividend Yield
0%

Max Alert Systems Overview

Business

Max Alert Systems Ltd. is an Indian engineering company that specializes in providing integrated technology solutions, primarily acting as a system integrator. Its core business revolves around designing, implementing, and maintaining solutions for security, surveillance, IT infrastructure, and broadcasting & communication. The company's clientele predominantly includes government organizations, defense establishments, and public sector undertakings (PSUs) in India. They generate revenue through project execution, sales of integrated products and solutions (which often incorporate third-party hardware and software), and associated maintenance and support services. Key offerings include CCTV systems, access control, fire detection systems, public address systems, data centers, network solutions, broadcasting solutions, and homeland security technologies.

Revenue Mix

The company operates broadly within the 'Engineering' sector, focusing on integrated project-based solutions. While specific detailed segment-wise revenue breakdowns (e.g., a precise split between security projects vs. IT infrastructure projects) are generally not publicly disclosed for a company of this size, its operations can be categorized into:

Security & Surveillance Solutions: CCTV, access control, fire alarm, homeland security systems.

IT Infrastructure & Data Solutions: Data centers, network management, cyber security.

Broadcasting & Communication Solutions: FM radio, TV broadcasting infrastructure.

Specialized Engineering Services: Project consulting, system design, implementation, and maintenance.

Industry

Max Alert Systems operates in the dynamic and competitive Indian market for security, IT infrastructure, and broadcasting solutions. This industry includes a mix of large multinational technology providers, major domestic system integrators, and smaller specialized local firms. Max Alert positions itself as a niche player, particularly strong in executing complex, integrated projects for government, defense, and PSU clients. Its competitive standing is based on its track record, technical expertise, and ability to meet the stringent requirements of public sector tenders.

MOAT

Domain Expertise & Project Execution: A proven track record and experience in delivering large-scale, intricate projects for sensitive government and public sector clients.

Client Relationships & Trust: Established relationships with key government and PSU entities built over years of project delivery.

Certifications & Compliance: Adherence to necessary industry standards and government certifications, which are often prerequisites for tender participation.

System Integration Capability: Proficiency in integrating diverse technologies and hardware from various vendors into seamless, end-to-end solutions.

Growth Drivers

Government Spending & Initiatives: Continued investment in "Smart Cities," "Digital India," defense modernization, and homeland security projects by the Indian government.

Demand for Security & Surveillance: Rising concerns over public safety, national security, and critical infrastructure protection driving demand for advanced surveillance and security systems.

Technological Upgrades: Ongoing advancements in AI/ML, IoT, drone technology, and communication networks requiring continuous upgrades and new implementations across sectors.

Broadcasting Infrastructure Modernization: Expansion and digitization efforts within the Indian broadcasting sector.

"Make in India" Push: Potential for increased preference for domestic companies in government procurement.

Risks

Project-based Revenue Volatility: Revenue generation is highly dependent on securing new orders and timely project completion, which can lead to fluctuations in financial performance.

Intense Competition: Operating in a fragmented market with competition from larger, well-established players and numerous smaller, specialized firms.

Dependency on Government Spending: A slowdown or reprioritization of government and PSU capital expenditure could adversely impact order inflow.

Technological Obsolescence: The need to continuously invest in R&D and employee training to keep pace with rapidly evolving technologies.

Supply Chain Disruptions & Component Pricing: Reliance on third-party components and potential exposure to supply chain issues or price volatility.

Regulatory and Policy Changes: Changes in government procurement policies, security mandates, or tender processes could affect business opportunities.

Management & Ownership

The company is promoted by Mr. Narendra Kumar Gupta, who serves as the Managing Director. The ownership structure typically features a significant promoter holding, common for SME-listed companies in India. The promoter's experience and vision are generally crucial for strategic direction and business development within such organizations.

Outlook

Max Alert Systems Ltd. is positioned in sectors benefiting from India's long-term growth drivers, including increased government spending on infrastructure, digital transformation, and national security. Its established relationships and project execution capabilities with government and PSU clients provide a stable base. However, the company operates in a competitive and project-centric environment, necessitating continuous innovation, efficient project management, and strategic adaptation to technological shifts. Sustained growth will depend on its ability to consistently win and successfully execute new, large-scale projects amidst intense competition and evolving market demands.

Max Alert Systems Share Price

Live · BSE · Inception: 2004
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Standalone · annual

Max Alert Systems Quarterly Results

#(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

Max Alert Systems Profit & Loss

#(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 28 14 14 19 12 6 5 0 0 15 23
Other Income 0 0 0 0 0 0 0 0 0 2 3
Total Income 29 14 14 19 12 6 5 0 0 17 27
Total Expenditure 28 13 15 19 11 7 24 0 0 14 21
Operating Profit 1 1 -1 1 1 -1 -19 -0 -0 3 6
Interest 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 2 0 -0 0 0 0 -1 0 0
Profit Before Tax 0 0 0 0 0 -1 -19 -0 -1 3 6
Provision for Tax -0 0 0 0 0 -0 0 0 -0 0 0
Profit After Tax 0 0 0 0 0 -1 -19 -0 -1 3 6
Adjustments 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 0 0 0 0 0 -1 -19 -0 -1 3 6
Adjusted Earnings Per Share 0.1 0.2 0.1 0 0 -1.5 -20.6 -0.4 -8.9 35.3 60

Max Alert Systems Balance Sheet

#(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 14 14 15 15 15 13 -6 -6 1 5 11
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 8 8 3 2 2 2 2 2 0 0 0
Other Non-Current Liabilities -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0
Total Current Liabilities 3 4 4 12 15 8 6 6 0 1 1
Total Liabilities 26 26 22 29 31 23 2 1 1 6 12
Fixed Assets 5 4 3 2 2 1 1 0 0 0 2
Other Non-Current Assets 0 1 0 0 0 0 0 0 0 0 0
Total Current Assets 21 21 20 27 29 21 1 1 1 6 10
Total Assets 26 26 22 29 31 23 2 1 1 6 12

Max Alert Systems Cash Flow

#(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 2 2 0 1 0 0 0 1 1 0 2
Cash Flow from Operating Activities -3 -1 3 1 0 -0 0 -1 -6 -2 -2
Cash Flow from Investing Activities 4 -1 1 0 0 0 1 0 7 2 1
Cash Flow from Financing Activities -1 -1 -4 -1 -0 0 -0 0 -0 1 0
Net Cash Inflow / Outflow 1 -2 0 -0 0 -0 1 -1 -0 1 -1
Closing Cash & Cash Equivalent 2 0 1 0 0 0 1 1 0 2 0

Max Alert Systems Ratios

# 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) 0.07 0.18 0.07 0.03 0.02 -1.49 -20.61 -0.44 -8.94 35.28 59.98
CEPS(Rs) 1.15 0.98 0.7 0.53 0.43 -1.16 -20.4 -0.33 -7.97 36.08 62.86
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 15.55 15.73 15.8 15.84 15.86 14.37 -6.24 -6.68 -5.1 30.19 90.17
Core EBITDA Margin(%) 3.08 6.48 -6.54 2.59 4.37 -18.95 -400.76 0 0 7.41 10.34
EBIT Margin(%) 0.32 1.81 0.75 0.26 0.34 -24.06 -401.48 0 0 22.44 23.94
Pre Tax Margin(%) 0.04 1.66 0.66 0.25 0.3 -24.13 -401.49 0 0 22.44 23.94
PAT Margin (%) 0.21 1.2 0.5 0.16 0.16 -23.95 -401.49 0 0 22.25 23.69
Cash Profit Margin (%) 3.72 6.68 4.66 2.57 3.32 -18.6 -397.42 0 0 22.75 24.83
ROA(%) 0.23 0.63 0.29 0.12 0.06 -5.11 -153.31 -24 -70.09 88.37 60.29
ROE(%) 0.43 1.13 0.47 0.21 0.13 -9.84 -507.13 0 0 281.24 99.67
ROCE(%) 0.39 1.08 0.51 0.28 0.24 -8.62 -332.44 0 0 98.5 67.71
Receivable days 124.44 211.15 176.21 201.33 584.43 1106.24 473.36 0 0 96.72 76.54
Inventory Days 2.83 11.39 24.66 26.73 59.51 155.81 96.72 0 0 0 0
Payable days 50.64 138.25 68.22 148.1 477.71 771.82 377.99 0 0 16.68 18.89
PER(x) 171.95 0 0 146.65 269.15 0 0 0 0 0 0
Price/Book(x) 0.73 0 0 0.3 0.34 0.31 -0.65 -0.45 -0.79 0 0
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.58 1.24 0.86 0.32 0.56 0.99 0.94 0 0 -0.05 0.03
EV/Core EBITDA(x) 15.24 16.95 -13.63 11.98 12.33 -5.3 -0.24 -13.7 0.14 -0.21 0.1
Net Sales Growth(%) -24.33 -52.4 2.33 37.55 -37.94 -51.73 -17.35 -100 0 0 59.69
EBIT Growth(%) 135.05 168.87 -57.6 -52.65 -18.64 -3537.4 -1279.23 97.85 -106.19 488.69 70.32
PAT Growth(%) 113.43 165.79 -57.69 -56 -38.79 -7503.12 -1285.21 97.84 -101.27 494.72 69.98
EPS Growth(%) 113.42 165.91 -57.69 -56.03 -38.72 -7501.49 -1285.2 97.84 -1912.4 494.72 69.98
Debt/Equity(x) 0.59 0.54 0.24 0.14 0.14 0.15 -0.33 -0.31 0 0 0
Current Ratio(x) 6.21 5.63 4.52 2.16 2.02 2.81 0.24 0.14 8.29 5.94 8.49
Quick Ratio(x) 6.13 5.48 4.22 2.04 1.85 2.48 0.24 0.14 8.29 5.94 8.49
Interest Cover(x) 1.12 12.66 8.7 22.88 9.54 -340.06 0 -4085 0 0 0
Total Debt/Mcap(x) 0.81 0 0 0.46 0.41 0.51 0.5 0.69 0 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +53% — +31% -2%
Operating Profit CAGR +100% — — +20%
PAT CAGR +100% — — —
Share Price CAGR +66% +31% -2% -2%
ROE Average +100% +127% -25% -12%
ROCE Average +68% +55% -33% -16%

Max Alert Systems Shareholding Pattern

Latest · Sep 2026
100% held
Promoters 57.94 %
FII 0 %
DII (MF + Insurance) 0 %
Public (retail) 42.06 %
# Mar 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
Promoter 57.9457.9457.9457.9457.9457.9457.9457.9457.9457.94
FII 0000000000
DII 0000000000
Public 42.0642.0642.0642.0642.0642.0642.0642.0642.0642.06
Others 0000000000
Total 100100100100100100100100100100

Max Alert Systems Peer Comparison

Engineering Edit Columns

Max Alert Systems Quarterly Price

10-year quarterly close · BSE
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News & Updates

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Max Alert Systems Pros & Cons

Pros

  • Stock is trading at -0.7 times its book value
  • Company has a good return on equity (ROE) track record: 3 Years ROE 127%
  • Company is almost debt free.

Cons

  • Debtor days have increased from 16.68 to 18.89days.
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