Prizor Viztech Ltd. (PRIZOR)
SME CapIT stocks · SME cap · NSE
Prizor Viztech Ltd. manufactures security and surveillance solutions (IP, analog, AI cameras) and diversified into LED TVs, monitors, and touch panel displays. It holds BIS-ER certification and operates a pan-India distribution network with 11,000+ dealers, focusing on indigenous 'Make in India' products.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Excellent · 95/100Rev +253% YoY · PAT +200% YoY · margin expansion · +152% QoQ
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹106 Cr | +253.3% | +152.4% |
| EBITDA | ₹24 Cr | +166.7% | +140.0% |
| Operating margin | 22.0% | +100 bps | -100 bps |
| PAT | ₹15 Cr | +200.0% | +150.0% |
| PAT margin | 14.2% | -85 bps | -14 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Prizor Viztech reported robust FY26 performance with revenue up 108.1% YoY to Rs. 14,794.1 Lacs, EBITDA up 121.0% to Rs. 3,321.9 Lacs, and PAT up 104.5% to Rs. 2,075.8 Lacs. H2 FY26 saw even stronger growth, driven by regulatory shifts favoring domestic players.
The company delivered exceptional growth in FY26, significantly outperforming prior periods, driven by a structural shift in the Indian surveillance market favoring BIS-ER certified domestic players. Strategic backward integration and AI product development position it well for continued expansion.
AI-enabled Advanced Cameras
Developing AI-enabled advanced camera range (face recognition, ANPR, behavior analysis) moving up the value chain with PRIZOR PLUS AI series.
Pan-India Distribution Network
11,000+ dealers across 21 states, serving 3000+ tehsils, enabling deep last-mile reach and recurring camera demand.
Backward Integration & SoC Development
Building fully backward-integrated manufacturing, including SMT line, and MoU with IndieSemic for ISC-S2-PZ SoC chip.
Regulatory Tailwinds & 'Make in India'
STQC enforcement and 'Make in India' push create sustained, policy-backed demand for certified Indian surveillance brands.
CCTV Camera Assembly Capacity
Current capacity of 16 lakh units per annum (2 lines), expandable up to 40 lakh units per annum with low incremental capex.
SMT Line Capacity
50 lakh PCB units per annum, enabling complete in-house electronics manufacturing.
Integrated Manufacturing Ecosystem
Housing Mold Machines, Laser Branding Machines, and Server Room (P2P cloud & IP/NVR infra) in Gandhinagar facility.
Regulatory Amendments
Bold restrictions on non-Indian players strengthened 'Make-in-India' initiative, accelerating transition to trusted, compliant, locally supported solutions.
Data Sovereignty Concerns
Rising concerns over data privacy and foreign hardware vulnerabilities accelerate the shift to indigenously certified systems across government, banking, education, and infrastructure sectors.
Infrastructure-Led Growth
Major government initiatives (Smart Cities Mission, PM Gati Shakti) and new housing/airports drive demand for surveillance systems.
Shift to IP & AI-Powered Surveillance
Growing demand for high-resolution, remote access, AI-enabled features like facial recognition, anomaly detection, and license plate reading.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
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.
The investor presentation primarily highlights year-on-year growth for both half-year (H2 FY26 vs H2 FY25) and full-year (FY26 vs FY25) periods, which is appropriate for assessing the impact of structural market shifts and long-term strategic execution.
Revenue (FY26)
Rs. 14,794.1 Lacs, +108.1% YoY
EBITDA (FY26)
Rs. 3,321.9 Lacs, +121.0% YoY
PAT (FY26)
Rs. 2,075.8 Lacs, +104.5% YoY
EBITDA Margin (FY26)
22.5% (vs 21.1% in FY25), +140 bps YoY
Structural Market Transformation
The Indian surveillance industry is undergoing a fundamental, irreversible transformation driven by domestic capability and stronger compliance standards.
Preparedness for Opportunity
Years of disciplined work in product reliability, distribution reach, and partner relationships prepared the company for this pivotal moment.
Measured and Confident Approach
Management will continue to invest in product portfolio, service capabilities, and long-term partnerships, while maintaining discipline in execution.
Commitment to Sustainable Growth
Committed to building sustainable growth and creating long-term value for stakeholders as the industry evolves.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Dealer Network Expansion | 11,000+ dealers (FY26) | Monitor growth in dealer count and penetration into Tier 2 & Tier 3 towns for sustained last-mile reach. |
| Manufacturing Capacity Utilization | 16 lakh units/annum (expandable to 40 lakh) | Track utilization rates and timely ramp-up of expanded capacity to meet demand growth. |
| AI Product Adoption | PRIZOR PLUS AI series launched | Assess market acceptance and revenue contribution from the new AI-enabled camera range. |
| Backward Integration Progress | IndieSemic MoU for SoC chip (in pipeline) | Monitor progress on SoC development and the timeline for achieving full backward integration. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
70Bullishfull bull SMA stack · SMA20 +16.5% / mo · RSI overbought · MACD + · near 52W high
Technical chart
PRIZORdaily · 1Y · AUTO+211.8%Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 83. Wait for confirmation.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~14.2% over last month) — short-term momentum positive.
- RSI(14) at 83 — overbought zone; risk of mean reversion.
- MACD above signal but histogram contracting — bullish momentum cooling.
- Within 3% of 52-week high — testing resistance.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 49 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 49 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Quality contributes 20/20 to the score.
- Growth contributes 17/25 to the score.
- Balance sheet contributes 10/15 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -273.9%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
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.
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.
Score history
12 stored score snapshots. Latest stored move: -1 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Claim history is still being built. It ranks around the 59th percentile of the scored universe and 54th percentile within IT. Main check: cash conversion is weak at 28/100.
Healthy Trust Lite: Promoter holding is 67.9%. Key concern: Operating cash flow is negative at ₹-14 Cr.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · IT: 54th pctile, median 69 · SME: 77th pctile, median 64
2 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead 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.
Trust positives
- ▸Promoter holding is 67.9%.
- ▸Promoter pledge is zero.
- ▸ROCE is 45.2%.
- ▸OPM spread across recent quarters is 4%.
Trust risks
- ▸Operating cash flow is negative at ₹-14 Cr.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 110.00
- P/B
- 26.32
- EV/EBITDA
- 86.93
- Market Cap
- 1296.00Cr
Profitability
- ROE
- 41.00%
- ROCE
- 45.20%
- ROA
- 17.54%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 97.22%
- EPS 5Y
- 66.67%
- Revenue 3Y
- 97.22%
- EPS 3Y
- 66.67%
Balance Sheet
- Debt/Equity
- 0.19
- Interest Coverage
- 15.00×
- Altman Z
- 9.17
- Book Value
- 45.60
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -14.00 Cr
- EPS TTM
- 9.49
Shareholding
- Promoter Hold
- 67.93%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 100%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
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Peers
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Peers
Business-comparable peers in IT — 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.