Aditya Infotech logo

Aditya Infotech

CPPLUS NSE

Key Fundamentals

MidcapIndustrial ProductsCapital Goods
Market Cap
₹45,230 Cr
Volatility
Moderate
P/E Ratio
94.29
EBITDA
₹579 Cr
Return on Equity
19.61%
Debt to Equity
0.14
Book Value
₹158.66
52W High
₹4,094
52W Low
₹1,227

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 65.8% CAGR over last 5 years

Weaknesses

2
  • Stock is trading at 24.0 times its book value
  • Working capital days have increased from 40.8 days to 73.9 days

Growth Rate

Revenue Growth
35.57% higher than 3Y
Net Income Growth
4.72% lower than 3Y
Cash Flow Change
-50.5% lower than 3Y
ROE
-43.21% lower than 3Y
ROCE
-40.97% lower than 3Y
EBITDA Margin (Avg.)
65.42% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

Aditya Infotech Ltd (CP PLUS) has a market cap of ₹45,230 Cr and trades at a PE of 94.9x with a price-to-book of 24.1x. The company has delivered strong compounded profit growth of 66% CAGR over five years and TTM sales growth of 52%, but its valuation multiples are elevated relative to earnings and book value.

Bull Case 8
  • Compounded profit growth of 66% CAGR over 5 years demonstrates sustained earnings momentum, well above the capital goods sector average
  • TTM sales growth of 52% indicates significant top-line acceleration, suggesting strong demand for surveillance and security products
  • TTM profit growth of 215% reflects a sharp expansion in profitability in the most recent period
  • 3-year compounded sales growth of 23% and 5-year sales CAGR of 30% show consistent revenue scaling over multiple time horizons
  • Return on equity of 25% in the last year and 22% over 3 years indicates efficient capital deployment and strong shareholder returns
  • Company has reduced debt, improving its balance sheet quality and lowering financial risk
  • Stock price CAGR of 174% over the past 1 year reflects strong market re-rating driven by earnings delivery
  • 3-year compounded profit growth of 48% confirms that recent earnings strength is not a one-off event but part of a multi-year trend
Bear Case 8
  • PE ratio of 94.9x is extremely elevated, pricing in years of flawless execution with little room for earnings disappointment
  • Price-to-book of 24.1x is exceptionally high, meaning investors are paying ₹24 for every ₹1 of book value
  • Working capital days have increased from 40.8 to 73.9 days, an 81% deterioration that signals potential cash conversion challenges
  • Dividend yield of just 0.04% offers virtually no income return to shareholders, with nearly all value dependent on capital appreciation
  • 1-year stock price CAGR of 174% raises the risk of mean reversion if growth momentum slows even marginally
  • 10-year historical data for sales, profit, and ROE is unavailable, limiting the ability to assess true long-cycle durability of the business
  • At a market cap of ₹45,230 Cr against TTM profit growth of 215%, any quarterly earnings miss could trigger sharp de-rating from the 94.9x PE multiple
  • Debt-to-equity ratio is not reported, creating uncertainty around the full leverage picture despite claims of debt reduction

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 3
  • ₹28 cr fire at AP plant Sep 9

    Fire due to short circuit at AIL Dixon Technologies subsidiary plant in Kadapa, AP, damaged Sheds 1-4 and 11. Estimated ₹28 crore loss in raw materials, finished goods and equipment; stock fell 2.2% to ₹3,743.15 on the day.

  • Elevated component costs squeeze margins Aug 17

    Electronic component prices are squeezing profits, with price hikes of 15-20% falling short of the 25% FY27 target. Local sourcing efforts will take 2-3 quarters to meaningfully impact financials.

  • Potential equity dilution from QIP Aug 19

    Board approved raising up to ₹1,500 crore via QIP or public issue, which will dilute existing shareholders. P/E multiple already elevated at 86x vs 68x at IPO.

Positives 6
  • MOFSL initiates Buy, ₹4,200 target Aug 20

    Motilal Oswal initiated coverage with a Buy rating and ₹4,200 target price (27% upside), with a bull case of ₹5,066 (53% upside). Expects 44% revenue CAGR and 64% PAT growth over FY26-FY28.

  • Blowout Q1FY27 results Aug 18

    Revenue surged 89.5% YoY to ₹1,402 crore, adjusted PAT up 332.5% to ₹142.2 crore, and EBITDA margins expanded to 14.8%. Gross margin rose 810 bps YoY to 30.8%.

  • ITAT deletes ₹40.38 cr tax addition Sep 9

    Income Tax Appellate Tribunal, Delhi, deleted the entire ₹40.38 crore tax addition for AY 2019-20, resolving a long-standing dispute including the remaining ₹3.60 crore balance addition.

  • ₹1,500 cr QIP for expansion Aug 19

    Board approved ₹1,500 crore equity raise to expand capacity at a time when utilisation is at 85-90%. Stock recovered 4% in two sessions post-announcement, with analysts issuing buy calls with 10-20% upside.

  • STQC norms boost market share Aug 17

    STQC norms effective April 2025 caused non-compliant Chinese players' market share to drop from 27% to 16% in FY26. MOFSL expects Aditya Infotech's surveillance market share to rise from 44% to 58% by FY28.

  • FII holdings rising steadily Aug 20

    Foreign institutional investors increased holdings to 6.35% in June 2026 from 5.72% in March 2026. Promoter stake remains strong at 74.71% with zero pledging.

Neutral 2
  • Investor meetings in Mumbai, Singapore Aug 19

    Aditya Infotech scheduled one-on-one and group meetings with institutional investors in Mumbai (Aug 24-26) and Singapore (Sep 1-3) ahead of potential fundraise.

  • Fire loss fully insured Sep 9

    Company confirmed adequate insurance coverage for the ₹28 crore fire loss with no casualties, no injuries, and no disruption to operations. Insurance company has been notified.

TL;DR: Aditya Infotech is firing on all cylinders operationally — Q1FY27 revenue nearly doubled YoY, margins are expanding, and STQC norms are structurally shifting market share away from Chinese competitors toward CP Plus. Key risks include elevated component costs compressing near-term margins, potential dilution from the ₹1,500 crore QIP, and the ₹28 crore fire incident (though insured). The trend is strongly improving with institutional interest growing, but the 86x P/E leaves little room for execution missteps.

Quarterly Results

Particulars Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
636
669
830
977
740
920
1,139
1,422
1,402
Expenses
595
630
760
879
679
811
999
1,165
1,199
Operating Profit
41
39
69
98
61
109
140
257
204
OPM %
6%
6%
8%
10%
8%
12%
12%
18%
15%
Other Income
3
252
4
0
4
3
5
2
4
Interest
9
10
11
12
11
7
5
8
4
Depreciation
4
6
9
12
10
11
12
23
13
PBT
30
277
53
74
44
94
127
228
191
Tax %
26%
15%
24%
26%
25%
25%
25%
26%
25%
Net Profit
23
234
40
55
33
70
96
169
142
EPS in Rs
2.2
21.28
3.66
5.01
2.99
5.97
8.17
14.36
12.07
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,238
1,149
1,646
2,285
2,782
3,112
4,221
4,883
Expenses
1,181
1,093
1,513
2,124
2,559
2,864
3,655
4,174
Operating Profit
57
56
133
161
223
248
566
709
OPM %
4.6%
4.9%
8%
7%
8%
8%
13%
15%
Other Income
5
12
24
15
-12
259
13
13
Interest
37
26
20
23
31
42
30
24
Depreciation
5
6
8
9
16
31
56
59
PBT
21
35
129
143
165
434
493
639
Tax %
15%
28%
25%
24%
30%
19%
25%
—
Net Profit
17
29
97
108
115
351
368
477
EPS in Rs
69.72
117
388
528
562
32
31.24
40.57
Div. Payout %
0%
3%
1%
0%
0%
5%
5%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
2
2
2
2
2
11
12
Reserves
162
189
284
310
422
1,007
1,865
Borrowings
269
147
190
427
436
509
256
Other Liabilities
342
364
738
970
784
1,648
1,858
Total Liabilities
775
703
1,214
1,709
1,644
3,175
3,991
Fixed Assets
66
56
55
65
70
740
813
CWIP
0
0
4
7
16
30
84
Investments
0
17
30
30
1
1
1
Other Assets
708
630
1,126
1,607
1,558
2,404
3,093
Total Assets
775
703
1,214
1,709
1,644
3,175
3,991
Figures in ₹ Crores

Cash Flow

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
80
262
44
56
-180
27
13
Investing
-24
3
-89
-122
116
88
-141
Financing
-100
-144
20
109
-44
-19
156
Net Cash Flow
-44
122
-25
43
-108
96
29
Free Cash Flow
78
259
37
49
-187
1
-120
CFO/OP
184
451
49
61
-58
32
22
Figures in ₹ Crores

Ratios

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
98
120
116
98
96
122
121
Inventory Days
99
27
82
98
82
130
134
Days Payable
119
120
179
175
96
201
194
Cash Conversion Cycle
78
27
19
22
82
51
61
Working Capital Days
24
-8
7
-21
39
9
74
ROCE %
—
16%
35%
28%
28%
19%
29%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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61 extracted metrics + investor summaries across FY20–FY27.

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Shareholding Pattern

Public2.47%Promot.74.71%Others2.87%FIIs6.35%DIIs13.61%As ofJun 2026

Documents

Frequently Asked Questions about Aditya Infotech

What does Aditya Infotech Ltd do?
Aditya Infotech Limited (AIL) manufactures and provides video security and surveillance products, solutions, and services under the brand name 'CP Plus'.[1]
Where is Aditya Infotech Ltd (CPPLUS) listed?
Aditya Infotech Ltd trades as CPPLUS on the NSE and under code 544466 on the BSE.
Which sector does Aditya Infotech Ltd belong to?
Aditya Infotech Ltd is classified under the Capital Goods sector, in the Industrial Products industry.
What is the market capitalisation of Aditya Infotech Ltd?
Aditya Infotech Ltd has a market capitalisation of ₹45,230 Cr, which places it in the Large Cap band.
What is the PE ratio of Aditya Infotech Ltd?
Aditya Infotech Ltd trades at a PE ratio of 94.29, against a book value of ₹158.66 per share.
What is the 52-week high and low of Aditya Infotech Ltd?
Over the last 52 weeks Aditya Infotech Ltd has traded between ₹1,227 and ₹4,094.
Does Aditya Infotech Ltd pay dividends?
Aditya Infotech Ltd has a dividend yield of 0.04%.
What is the Return on Equity (ROE) of Aditya Infotech Ltd?
Aditya Infotech Ltd reported a return on equity of 19.61%. Its debt-to-equity ratio is 0.14.

Company Information

Aditya Infotech Limited (AIL) manufactures and provides video security and surveillance products, solutions, and services under the brand name 'CP Plus'.[1]

Website adityagroup.com
CEO Mr. Hari Shanker Khemka
Employees 1,274
Listed 2025-08-05
Face Value ₹ 1
Issued Size 11,75,45,019

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