AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Qualified Institutional Placement 25 Sep - QIP closed; 4,326,507 shares allocated at ₹3,467 each on September 25, 2026.
Source: Bse
Aditya Infotech Limited (CPPLUS)
Large CapIndustrials stocks · Large cap · NSE
Aditya Infotech Limited (CPPLUS) is an Indian provider of intelligent security systems, specializing in CCTV hardware, firmware, and software. The company focuses on in-house R&D, manufacturing, and localization of components for surveillance technologies.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result12 Aug, 06:23 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
55NeutralSMA20 +9.6% / mo · MACD −
Stock trend: 61
Sector RS: 46
Sector 3M: -7.1% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
CPPLUSD candles · FIT view+66.5%Latest close ₹3904.30 on 2026-10-21
Bar
-4.0%
RSI
49
MACD hist
-15.81
52W pos
78%
2026-10-21O ₹4065.20H ₹4096.00L ₹3873.60C ₹3904.30Vol 4.4L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
CPPLUSNifty India ManufacturingNifty 500
- CPPLUS
- +11.8%
- Nifty 500
- -6.5%
- Nifty India Manufacturing
- -7.7%
- Vs Nifty 500
- +18.3 pp
Chart stats
21 Oct 2026- From 52W high
- -15.5%
- 52W range position
- 78%
- ATR (14)
- 5.5%
- Volume vs 20D
- 1.25x
- Avg traded value
- ₹147 Cr
- 20D price channel
- ₹3,500.1 - ₹4,620
₹4,620
₹1,304 - ₹4,620
₹216
Latest completed session
20-session average
54.7% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE52
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +89.5% · PAT +330.3% YoY
Technical
Neutral55
Price trend and sector-relative-strength timing.
Valuation
Legacy model-144.9%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence77
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +89% YoY · PAT +330% YoY · margin expansion · operating leverage
Filed 12 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,402 Cr | +89.5% | -1.4% |
| EBITDA | ₹204 Cr | +234.4% | -20.6% |
| Operating margin | 15.0% | +700 bps | -300 bps |
| PAT | ₹142 Cr | +330.3% | -16.0% |
| PAT margin | 10.1% | +567 bps | -175 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 114.00
- P/B
- 27.77
- EV/EBITDA
- 70.96
- Market Cap
- 54243.00Cr
Profitability
- ROE
- 25.40%
- ROCE
- 28.60%
- ROA
- 11.95%
- Dividend Y
- 0.04%
Growth (CAGR)
- Revenue 5Y
- 30.00%
- EPS 5Y
- 66.00%
- Revenue 3Y
- 23.00%
- EPS 3Y
- 48.00%
Balance Sheet
- Debt/Equity
- 0.14
- Interest Coverage
- 29.54×
- Altman Z
- 8.63
- Book Value
- 159.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 3/5
- OCF
- 13.00 Cr
- EPS TTM
- 40.57
Shareholding
- Promoter Hold
- 71.80%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 94%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 1,402-1.4% vs prev
Net Profit
₹ CrLatest: 142-16.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 49. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~8.8% over last month) — short-term momentum positive.
- RSI(14) at 49 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 15% off 52W high · 199% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
99
RS percentile
Stage 2 UptrendEstablished S2
1M return
+12.1%
3M return
+11.8%
6M return
+72.1%
1Y return
+182.9%
RS 1D
0
RS 20D
+1
Sector rank
#6
Industry rank
-
Stage evidence
- Price is 23.6% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +10.9%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 observed by
02 Apr 2026
S2 age
142 trading sessions
Sector
weakening
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 318.58-1.73%
RS vs Nifty 500319
Valuation & peers
U-Score 52 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 52 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation0/30
Growth17/25
Quality19/20
Balance Sheet9/15
Cash Flow3/10
Piotroski
8/9 (+5)
Penalties
-1
Raw sum
52
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
52/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Quality contributes 19/20 to the score.
- Growth contributes 17/25 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -144.9%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
IT valuation: PE and EV/EBITDA against growth and margins
Asset-light IT companies deserve valuation support only when growth, margins, and cash conversion hold up.
Primary lens
PE and EV/EBITDA relative to revenue growth, margins, and cash conversion.
Secondary checks
Deal pipeline, attrition, dollar revenue growth, FCF yield.
Main risk check
Low PE can reflect weak growth or margin pressure.
PE
114.0
PB
27.8
EV/EBITDA
71.0
ROE
25.4%
ROCE
28.6%
FCF Yield
—
Debt/Equity
0.1
MoS
-144.9%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
52
Previous: 52
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-144.9%
Previous: -151.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
52
52
52
52
52
52
52
52
52
52
52
52
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹380.97
-924.8% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹1,594.4
-144.9% MoS
PEG
1.94
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ZENTEC
Large
Zen Technologies Limited
IT Services / Digital
match 20
43
80.9
10.7%
-107%
WATCHLIST
TITAGARH
Large
TITAGARH RAIL SYSTEMS LIMITED
Railway Equipment
match 18
30
51.9
6.8%
-35%
OVERVALUED
FINCABLES
Large
Finolex Cables Limited
Electrical Equipment
match 17
36
26.1
12.3%
-2%
WATCHLIST
AVALON
Micro
Avalon Technologies Limited
Electronics Manufacturing Services
match 14
43
99.4
16.5%
-157%
WATCHLIST
APOLLO
Micro
Apollo Micro Systems Limited
Defence Electronics
match 13
34
121.0
11.8%
-194%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-12T08:09:02.051Z
Management commentary snapshot
CPPLUS reports robust Q4 FY26 performance with 45.5% YoY revenue growth and 207.7% YoY PAT growth. FY26 saw 35.6% YoY revenue growth and 166.1% YoY adjusted PAT growth, driven by strong margins and operational efficiency.
The company delivered strong financial results for Q4 and FY26, significantly improving margins. Management has upgraded its FY27 revenue and profitability guidance, indicating continued positive momentum and strategic execution in localization and capacity expansion.
Growth engines
Volume Growth & Price Increase
FY27 revenue outlook supported by both volume growth (25% approx. due to units scaling up) and price increase (25% approx. due to ASP rise).
New Brands & Market Share
Two new brands, Nexivue & Eyra, are expected to drive further market share expansion.
Capacity & R&D Expansion
Expansion on Manufacturing Capacity, R&D, Localization, Market & Channel efforts are expected to help grow numbers.
High-Value Solutions Focus
Increased focus on high value specialized solutions to drive growth.
Capacity and execution
Kadapa Plant Expansion
Capacity now 2.5 M units per month, targeting 90–100% utilization. Looking at acquiring large land parcel adjacent to existing facility for future expansion.
Housing Plant Development
Phase 1 operational by Q2 FY26, Phase 2 operational by Q4 FY26 with 50 machines.
Automatic Lens Line
Auto Assembly line ordered, initial capacity 500,000/month, scalable to 1M units/month.
Noida Quick Expansion
Securing leased facility in Sector 68, expected operational timeline: Q4 FY27.
Tailwinds
Diversified SOC Partnerships
Strong alignment with non-Chinese SOC vendors like Ambarella, Qualcomm, Augentix, Innofusion, Novatek, Realtek, ensuring supply & technology flexibility.
Sensor Alignment
Strong partnerships with Smartsens, Sony, SOI ensuring technology & supply continuity.
Localization Progress
Progress in cable localization (Cat6, Co-axial, Fiber, Camera & Recorder cables), own housing plant, auto assembly line for lenses, IR LED & SMD Board/WIFI/4G Module.
Upgraded FY27 Guidance
Management upgraded FY27 revenue guidance to INR 6,000-6,500 Cr and PAT to 8.5-9.5%.
Headwinds
Global Supply Chain Disruptions
Global Semiconductor & Memory Supply Disruption and Global Supply Chain Shortages (DDR3 production stopped) are ongoing issues.
Component Price Escalation
Price rise is inevitable and expected to continue up until 2027 due to volatility in component prices, operational costs, and USD.
Operational Cost Increases
Higher operational cost in terms of higher freight and insurance cost.
Margin Realization Lag
Company passing on the price rise in a tapered manner to ensure linear consumption, which may lead to some lag in margin realization.
Risk radar
Supply Chain & Component Price Volatility
Global semiconductor and memory supply disruptions, along with component price increases, pose risks to cost and production stability.
Operational Cost Management
Higher freight and insurance costs could impact profitability if not effectively managed or passed on.
Margin Compression from Tapered Price Hikes
Passing on price increases gradually to maintain consumption may result in a lag in margin realization, potentially impacting short-term profitability.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The company reports quarterly and annual results with explicit YoY comparisons. The nature of the business (security systems, project-based sales) often has seasonal elements, making YoY a more reliable indicator of underlying performance.
Sector KPIs management disclosed
Q4 FY26 Revenue Growth
Revenue from Operations: INR 1,422 Crore, 45.5% YoY Growth.
FY26 Revenue Growth
Revenue from Operations: INR 4,221 Crore, 35.6% YoY Growth.
Q4 FY26 Adjusted PAT Growth
Adjusted Profit after Tax: INR 169 Crore, 207.7% YoY Growth.
FY26 Adjusted PAT Growth
Adjusted Profit after Tax: INR 368 Crore, 166.1% YoY Growth.
Management forward view
FY27 Revenue Target
Management targets INR 6,000 Cr - INR 6,500 Cr revenue for FY27.
FY27 PAT Target
Management targets PAT of 8.5% - 9.5% for FY27.
Backward Integration Goal
Aim to achieve complete backward integration across all components by FY28.
Global R&D Presence
Establish fully functional global R&D presence, including Taiwan operations, by FY28.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| FY27 Revenue Growth | 35.6% YoY (FY26) | 40-50%+ YoY (FY27 guidance) |
| FY27 Adjusted PAT Margin | 8.7% (FY26) | 8.5-9.5% (FY27 guidance) |
| Kadapa Plant Utilization | Under improvement | 90-100% utilization |
| Backward Integration Progress | Localization progress across components | Complete backward integration by FY28 |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
77Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 83rd percentile of the scored universe and 83rd percentile within Industrials. Main check: cash conversion is weak at 55/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
30 docs text-extracted · 8 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
83rd percentile
overall median 67 · Industrials: 83rd pctile, median 68 · Large: 65th pctile, median 73
Evidence depth
Financial-only
30 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
68
acceptable · holding, pledge, alignment
Cash flow
55
watch · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
98
strong · capital discipline
Results
80
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 71.8%.
- ▸Promoter pledge is zero.
- ▸ROCE is 28.6%.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Promoter holding fell 5.1%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Aditya Infotech Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Qualified Institutional Placement 22 Sep - QIP opens September 22, 2026; floor price fixed at ₹3,648.43 per share.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement Under Regulations 30 (LODR) - Update 9 Sep - ITAT Delhi deleted Rs. 40.38 crore tax additions for AY 2019-20 on September 9, 2026.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement Under Regulation 30 (LODR) - Update 9 Sep - Fire at AIL Dixon's Kopparthy plant on Sept. 9, 2026; estimated loss ₹28 crore, no injuries.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment 25 Sep - Allotted 43.27 lakh shares in QIP at ₹3,467, raising about ₹1,500 crore.
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 19 Aug - Aditya Infotech Limited has informed about Schedule of meetings of Institutional Investors.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Jul - Newspaper Publication - Notice of 31st Annual General Meeting and E-Voting Information
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 10 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Jul - Newspaper Publication regarding 31st Annual General Meeting and other related information
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Acquisition 27 May - Board approved FY26 audited results, Rs 1.64 final dividend, USD 400,000 Taiwan subsidiary investment; customs penalty disclosed.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.