Annual reportSep 2026
Sep 2026 · Outcome of Board Meeting 5 Sep - Board approved FY26 annual report, AGM on 29 Sep 2026, and reappointment of Deepak Bahuguna.
Source: Nse
Graphisads Ltd. (GRAPHISAD)
SME CapMedia stocks · SME cap · NSE
Graphisads Ltd. is an Indian OOH media and advertising company with a PAN-India presence. It offers a full suite of advertising solutions including OOH, Digital OOH, events, digital media, and creative services. The company has long-standing empanelment with government bodies and PSUs.
₹22.3
-1.65 · -6.89%
Market cap ₹43.8 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 05:57 pm ISTDetails
Quote21 Oct, 05:57 pm IST
Base fundamentals18 Oct 2026 · screener
Latest result01 Jun, 07:54 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Media P/E 15.0 (n=57)
Technical timing lens
Trend score and candlestick chart
51Neutralfull bear SMA stack · SMA20 -7.1% / mo · MACD − · near 52W low · sector +14.1pp vs Nifty 500 (3M)
Stock trend: 18
Sector RS: 100
Sector 3M: +8.5% vs Nifty 500 -5.6%
Media FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but the sector index is below its 100-session average. View sector evidence
Technical chart
GRAPHISADD candles · FIT view-38.7%Latest close ₹22.30 on 2026-10-21
Bar
-5.1%
RSI
33
MACD hist
-0.08
52W pos
1%
2026-10-21O ₹23.50H ₹23.50L ₹22.05C ₹22.30Vol 6,000 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
GRAPHISADNifty MediaNifty 500
- GRAPHISAD
- -22.2%
- Nifty 500
- -6.5%
- Nifty Media
- +5.7%
- Vs Nifty 500
- -15.7 pp
Chart stats
21 Oct 2026- From 52W high
- -57.8%
- 52W range position
- 1%
- ATR (14)
- 4.5%
- Volume vs 20D
- 0.72x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹22.1 - ₹25.8
₹52.8
₹22.1 - ₹52.8
₹1
Latest completed session
20-session average
40.3% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED61
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad25
Revenue +20.9% · PAT +0.0% YoY
Technical
Neutral51
Price trend and sector-relative-strength timing.
Valuation
Legacy model+57.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence57
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 31 Mar 2026
Bad · 25/100PAT 0% YoY · Rev +21% YoY · margin expansion · +35% QoQ
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹81 Cr | +20.9% | +35.0% |
| EBITDA | ₹3 Cr | NDF | -40.0% |
| Operating margin | 3.3% | NDF | -470 bps |
| PAT | ₹2 Cr | +0.0% | -33.3% |
| PAT margin | 2.5% | NDF | -253 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 9.99
- P/B
- 0.45
- EV/EBITDA
- 6.98
- Market Cap
- 43.80Cr
Profitability
- ROE
- 4.41%
- ROCE
- 6.54%
- ROA
- 2.30%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 25.00%
- EPS 5Y
- 46.00%
- Revenue 3Y
- 13.00%
- EPS 3Y
- -9.00%
Balance Sheet
- Debt/Equity
- 0.27
- Interest Coverage
- 4.00×
- Altman Z
- 2.13
- Book Value
- 52.90
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 2/5
- OCF
- 14.00 Cr
- EPS TTM
- 2.34
Shareholding
- Promoter Hold
- 73.67%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 5%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 81.0+35.0% vs prev
Net Profit
₹ CrLatest: 2.0-33.3% 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
Bearish setupTrend is weak — long-term trend down. RSI 33.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~7.6% over last month) — short-term momentum negative.
- RSI(14) at 33 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- Within 5% of 52-week low — testing support.
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
12
RS percentile
Stage 4 Downtrend
1M return
-11.9%
3M return
-18.9%
6M return
-31.2%
1Y return
-41.9%
RS 1D
-4
RS 20D
0
Sector rank
#15
Industry rank
-
Stage evidence
- Price is 25.3% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -9.0%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
improving
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
239 observations
21 Oct 2026Value 64.5-5.05%
RS vs Nifty 50065
Valuation & peers
U-Score 61 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 61 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · UNDERVALUEDValuation28/30
Growth23/25
Quality0/20
Balance Sheet10/15
Cash Flow2/10
Piotroski
7/9 (+5)
Penalties
-7
Raw sum
61
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
61/100 · legacy band UNDERVALUED
Positive drivers
- Piotroski is strong at 7/9.
- Fair-value margin of safety is positive at 57.6%.
- Valuation contributes 28/30 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Cash flow is weaker at 2/10; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
10.0
PB
0.5
EV/EBITDA
7.0
ROE
4.4%
ROCE
6.5%
FCF Yield
—
Debt/Equity
0.3
MoS
+57.6%
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
61
Previous: 59 (+2)
Legacy U-Score band
UNDERVALUED
Previous: FAIR VALUE
Margin of safety
+57.6%
Previous: +54.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
59
59
59
59
59
59
59
59
59
59
59
59
Factor attribution
Valuation
28+2
was 26
Modelled fair value
Graham Number
₹52.77
+57.7% MoS
Growth-justified P/E
22.5
Growth-justified Value
₹52.65
+57.6% MoS
PEG
0.22
Comparable companies
Peers
Business-comparable peers in Media — 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
CRAYONS
SME
Crayons Advertising Ltd.
Advertising
match 86
18
18.4
2.9%
-2369%
OVERVALUED
VERITAAS
SME
Veritaas Advertising Ltd.
Advertising
match 85
68
4.7
14.1%
+79%
UNDERVALUED
RKSWAMY
Small
R K Swamy Limited
Advertising
match 69
51
17.6
9.5%
+20%
FAIR VALUE
ASPIRE
SME
Aspire & Innovative Advertising Ltd.
Advertising
match 69
30
8.6
5.0%
+1%
OVERVALUED
GRETEX
SME
Gretex Industries Ltd.
Media & Entertainment
match 31
24
226.0
3.7%
-3328%
OVERVALUED
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 under stressReviewed 2026-08-16T13:11:12.334Z
Management commentary snapshot
FY25 Revenue from Operations grew 36% YoY to INR 153.8 Cr, but EBITDA margin compressed to 5% from 10% in FY24. PAT increased to INR 8.4 Cr from INR 3.7 Cr, driven by a significant jump in other income.
While revenue growth in FY25 was strong, the significant contraction in EBITDA margin to 5% from 10% YoY raises concerns about profitability and operational efficiency. The PAT increase appears driven by 'Other Income' rather than core business improvement.
Current business mix
Revenue by Activity (FY25)
Latest issuer-disclosed distribution across 5 reported categories.
Outdoor61.0%
Creative/Print Media17.0%
Digital3.0%
Events13.0%
Other/Unspecified6.0%
Growth engines
Digital OOH Expansion
Currently operates 450+ DOOH screens with rapid expansion underway. Targeting 25% of total revenue from digital by 2030.
Events & Activation
Targeting 20-25% YoY growth, positioning as a full-service events partner in a growing INR 20,000+ Cr industry.
Film/AV Production
Targeting 5-7% of total revenue from in-house creative services by 2027, focusing on government contracts.
New OOH Inventories
Consistently acquire approximately 50 new clients annually while upselling additional services to over 40% of existing client base.
Capacity and execution
Digital LED Screens
Installed in all Vande Bharat (Amritsar–Delhi) trains with a 5-year term.
Subway Panels
Near CGO Complex & BRT Petrol Pump, Central Zone, Delhi – 500 sq. ft.
Public Utilities
48 Public Utilities (West & South) added.
Railway Station DOOH
New Delhi (90 Screens), Old Delhi (106 Screens), Kanpur Central Railway Station Network.
Tailwinds
Growing Indian Advertising Market
Indian Advertising will grow at 8% till 2027; digital media at 11%, traditional at 2%.
Digital OOH Growth
DOOH will increase to 17% of total OOH segment revenues by 2027, at a CAGR of 24%.
Transit OOH Growth
Transit OOH, driven by airports, premium trains, metros, and buses, will grow at 16% till 2027.
Events Segment Growth
Events segment expected to grow at a CAGR of 18% to reach INR 167 billion by 2027.
Risk radar
Operational Efficiency & Profitability
Gross Margin declined from 31% in FY24 to 20% in FY25, and EBITDA Margin from 10% to 5%.
Reliance on Government Contracts
50% of Revenues from Multi-year Govt/PSU/Public Infrastructure Projects. Long-standing empanelment with 50+ ministries, PSUs, and Municipal bodies.
Competition in Fragmented Market
One of India’s Key Listed Player in Fragmented OOH Market.
Working Capital Management
Trade Receivables increased to INR 53.6 Cr in FY25 from INR 47.8 Cr in FY24.
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 investor presentation covers the full financial year FY25, making year-over-year comparison most appropriate to assess annual performance and growth trends across its diverse business segments.
Sector KPIs management disclosed
Revenue from Operations
FY25: INR 153.8 Cr (36% YoY growth)
EBITDA Margin
FY25: 5% (vs. 10% in FY24)
PAT
FY25: INR 8.4 Cr (vs. INR 3.7 Cr in FY24)
Gross Margin
FY25: 20% (vs. 31% in FY24)
Management forward view
Scaling Digital Inventory
Mandate to scale digital inventory, invest in smart technologies, and unlock full potential of marquee assets.
Full-Service Events Partner
Outlook: Targeting 20–25% YoY growth; Positioning as a Full-Service Events Partner.
Content-First Growth Engine
Outlook: ₹50 Cr vertical in 3–5 years for Film/AV Production; content-first growth engine.
Strategic Acquisitions/Collaborations
Accomplish strategic acquisitions/collaborations by FY26 in advertising/marketing services.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| EBITDA Margin | 5% in FY25 | Improvement in operational efficiency and margin recovery, especially given the strong revenue growth. |
| Digital Revenue Contribution | 3% of total revenue in FY25 | Progress towards the 2030 target of 25% digital revenue contribution. |
| Trade Receivables | INR 53.6 Cr in FY25 | Efficiency in collections, especially from government and PSU clients, to manage working capital. |
| New Client Acquisition & Upselling | Targeting 50 new clients annually, upselling to 40%+ existing base. | Actual client additions and cross-selling success to drive compounded growth. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
57Limited 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 20th percentile of the scored universe and 34th percentile within Media. Main check: financial discipline is weak at 18/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
1 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
20th percentile
overall median 67 · Media: 34th pctile, median 63 · SME: 21st pctile, median 64
Evidence depth
Financial-only
1 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
Needs extra due diligence; demand valuation comfort and recent improvement.
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
86
strong · holding, pledge, alignment
Cash flow
55
watch · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
18
weak · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 73.7%.
- ▸Promoter pledge is zero.
Trust risks
- ▸ROCE is low at 5.5%.
- ▸ROE is low at 4.3%.
- ▸ROCE trend is -3.2%.
- ▸Revenue CAGR is 13% but EPS CAGR is -9%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Graphisads Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Investor presentationJun 2025
Jun 2025 · PPT
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.