Sigma Advanced System
- P/E
- 103.38
Key Fundamentals
SmallcapAerospace & DefenseCapital GoodsPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 11.70%
- Debt to Equity
- 0.71
- EPS (TTM)
- ₹9.08
- Book Value
- ₹49.67
- Market Cap
- —
- P/E (TTM)
- 103.38
- P/B
- 18.90
- ROE
- −4.03%
- Dividend Yield
- 0.00%
- EBITDA
- ₹344 Cr
- 52W High
- ₹1,165.00
- 52W Low
- ₹140.10
- Volume
- 0
Peer Comparison
Industrials › Telecom › Telecom Services › Aerospace & Defense
| ₹5,079.10 | 36.44 | ₹3,35,230 Cr | 8.28 | 0.91% | 24.00% | 32.00% | ₹33,785 Cr | ₹9,322 Cr | |
| ₹398.00 | 45.49 | ₹2,84,935 Cr | 11.08 | 0.66% | 27.40% | 36.40% | ₹30,253 Cr | ₹6,401 Cr | |
| ₹1,075.00 | 75.65 | ₹37,987 Cr | 9.29 | 0.48% | 10.20% | 13.90% | ₹2,766 Cr | ₹521 Cr | |
| ₹2,143.40 | 30.66 | ₹24,395 Cr | 9.35 | 0.92% | 31.60% | 42.80% | ₹7,507 Cr | ₹801 Cr | |
| ₹4,078.00 | 85.21 | ₹22,179 Cr | 13.15 | 0.25% | 15.20% | 21.90% | ₹941 Cr | ₹267 Cr | |
| Sigma Advanced System (this company) | ₹938.70 | 103.38 | ₹17,375 Cr | 18.90 | 0.00% | −4.03% | 11.70% | ₹861 Cr | ₹166 Cr |
| ₹219.59 | — | ₹14,236 Cr | 10.57 | 0.00% | −9.96% | 1.69% | ₹1,370 Cr | −₹171 Cr | |
| Median 7 companies | ₹1,075.00 | 60.57 | ₹24,395 Cr | 10.57 | 0.48% | 15.20% | 21.90% | ₹2,766 Cr | ₹521 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 30
- Poor
- Returns, margins, earnings quality 22% weight
- Valuation
- 25
- Poor
- Cheap vs sector & own history 24% weight
- Growth
- 99
- Strong
- Sales & profit trajectory 9% weight
- Financial Health
- 49
- Average
- Solvency, leverage, coverage 9% weight
- Momentum
- 99
- Strong
- Trend strength, vol-adjusted 12% weight
- Ownership
- 71
- Strong
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
No strengths listed
Weaknesses
6- Stock is trading at 32.6 times its book value
- Promoter holding has decreased over last quarter: -5.13%
- Company has a low return on equity of -5.63% over last 3 years.
- Earnings include an other income of Rs.101 Cr.
- Company has high debtors of 270 days.
- Working capital days have increased from 86.3 days to 123 days
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bullish | 4 | 5 | 10 |
| Oscillators | Bearish | 4 | 5 | 0 |
| Moving Averages | Strong Bullish | 0 | 0 | 10 |
Oscillators
Bearish
Overall
Strong Bullish
Moving Averages
Strong Bullish
Key readings
- RSI (14)
- 54.00
- Neutral
- MACD (12,26,9)
- −2.73
- Bearish
- SMA (50)
- 882.96
- Bullish
- SMA (200)
- 484.05
- Bullish
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +22.82% |
|---|---|
| 5Y | +52.83% |
| 3Y | +526.58% |
| 1Y | +359.81% |
| TTM | +962.96% |
Net profit
| 10Y | +74.91% |
|---|---|
| 5Y | +166.33% |
| 3Y | +209.95% |
| 1Y | Turned to profit |
| TTM | +20.29% |
Operating cash flow
| 10Y | Turned negative |
|---|---|
| 5Y | Turned negative |
| 3Y | Turned negative |
| 1Y | Turned negative |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | −15.03 pp |
|---|---|
| 5Y | +3.59 pp |
| 3Y | +910.37 pp |
| 1Y | +32.80 pp |
| TTM | +15.63 pp |
Revenue by year
| Mar 2017 | ₹67.00 Cr |
|---|---|
| Mar 2018 | ₹66.00 Cr |
| Mar 2019 | ₹62.00 Cr |
| Mar 2020 | ₹57.00 Cr |
| Mar 2021 | ₹59.00 Cr |
| Mar 2022 | ₹52.00 Cr |
| Mar 2023 | ₹2.00 Cr |
| Mar 2024 | ₹0.00 Cr |
| Mar 2025 | ₹107 Cr |
| Mar 2026 | ₹492 Cr |
Net profit by year
| Mar 2017 | ₹3.00 Cr |
|---|---|
| Mar 2018 | ₹2.00 Cr |
| Mar 2019 | ₹0.00 Cr |
| Mar 2020 | ₹1.00 Cr |
| Mar 2021 | ₹2.00 Cr |
| Mar 2022 | ₹5.00 Cr |
| Mar 2023 | ₹9.00 Cr |
| Mar 2024 | −₹13.00 Cr |
| Mar 2025 | −₹14.00 Cr |
| Mar 2026 | ₹268 Cr |
AI Analysis — Bull vs Bear
Sigma Advanced System Ltd trades at ₹904.3 as of 2026-10-28 with a market cap of ₹17,136 Cr. The company has delivered explosive TTM sales growth of 964% and a current ROE of 57.22%, but trades at a PE of 99.59x and 18.21x book value, with high debtor days of 270 and declining promoter holding.
- TTM revenue growth of 964% signals a massive scale-up in the telecom business, with 3-year compounded sales CAGR also elevated at 530%
- Current ROE of 57.22% and ROCE of 53.16% indicate highly efficient capital deployment in the most recent period
- Stock price CAGR of 468% over 1 year and 167% over 3 years reflects sustained re-rating by the market
- Debt-to-equity ratio of 0.71 remains manageable, suggesting the company has not over-leveraged to fund its growth
- 5-year compounded sales CAGR of 53% and 10-year CAGR of 23% show a long-duration growth trajectory predating the recent spike
- The stock has rallied from a 52-week low of ₹140.1 to ₹904.3, a gain of over 545%, indicating strong momentum and investor interest
- TTM compounded profit growth of 20% shows the company is translating its revenue surge into positive bottom-line expansion
- Debtor days stand at 270, meaning nearly 9 months of revenue is locked in receivables, posing significant cash-flow and collection risk
- 3-year average ROE is -5.63%, indicating the current high ROE of 57.22% is a very recent phenomenon and may not be sustainable
- Promoter holding declined by 5.13% in the last quarter, which may signal reduced insider confidence at current valuations
- Earnings include ₹101 Cr of other income, raising questions about the quality and repeatability of core operating profits
- Working capital days have increased from 86.3 to 123 days, indicating deteriorating working capital efficiency even as revenues surge
- The stock trades at 18.21x price-to-book (reported elsewhere as 32.6x book value), both figures implying a steep premium to net asset value
- Zero dividend yield suggests the company is not returning any cash to shareholders despite the profit growth
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
TL;DR: Sigma Advanced Systems is positioning itself in the defence manufacturing space with a strategic MoU for indigenous 155 mm artillery fuze technology alongside a government enterprise. There are no visible headwinds from recent news flow. The defence partnership could open a meaningful revenue stream if it progresses from MoU to production orders, but execution and timeline remain to be seen.
- MoU with MIL for artillery Oct 14
Sigma Advanced Systems signed an exclusive MoU with Munitions India Limited to integrate and manufacture indigenous 155 mm artillery course-correction fuzes, aligning with Atmanirbhar Bharat defence localization goals.
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 19 | 57 | 5 | 18 | 146 | 323 | 374 |
| Expenses | 3 | 2 | 2 | 1 | 2 | 2 | 19 | 40 | 20 | 17 | 139 | 268 | 313 |
| Operating Profit | −3 | −2 | −2 | −1 | −2 | −2 | 0 | 16 | −15 | 1 | 7 | 55 | 61 |
| OPM % | — | — | — | — | — | — | −2.2% | 29% | −291% | 6% | 4.6% | 17% | 16% |
| Other Income | 11 | 11 | 8 | 8 | 8 | 9 | 13 | 13 | 188 | 4 | 5 | 89 | 4.95 |
| Interest | 4 | 4 | 4 | 5 | 4 | 4 | 5 | 5 | 4 | 0.14 | 5 | 11 | 8 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 6 | 7 | 8 |
| PBT | 4 | 4 | 0 | 0 | 1 | 1 | 6 | 23 | 168 | 3 | 0 | 127 | 49 |
| Tax % | 14% | 2% | 0% | 0% | 0% | 0% | 22% | 22% | 18% | 0% | 550% | 1% | 22% |
| Net Profit | 3 | −3 | −5 | −8 | −17 | −14 | 7 | 9 | 136 | 4 | −1 | 128 | 35 |
| EPS (₹) | 0.47 | −0.44 | −0.65 | −1.1 | −2.27 | −1.93 | 0.99 | 1.17 | 18.49 | 0.57 | −0.14 | 7.29 | 1.36 |
Profit & Loss
₹ Cr| Particulars | Mar 2015 15m | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 98 | 63 | 67 | 66 | 62 | 57 | 59 | 52 | 2 | 0 | 107 | 492 | 861 |
| Expenses | 73 | 47 | 62 | 57 | 60 | 51 | 55 | 71 | 20 | 9 | 132 | 441 | 737 |
| Operating Profit | 25 | 16 | 6 | 10 | 2 | 5 | 4 | −18 | −18 | −9 | −24 | 51 | 124 |
| OPM % | 25% | 25% | 8% | 14% | 3.2% | 9% | 7% | −35% | −898% | — | −23% | 10% | 14% |
| Other Income | 1 | 1 | 8 | 1 | 9 | 6 | 7 | 30 | 43 | 37 | 42 | 285 | 101 |
| Interest | 12 | 8 | 6 | 5 | 6 | 7 | 5 | 3 | 11 | 17 | 20 | 20 | 24 |
| Depreciation | 14 | 7 | 5 | 4 | 4 | 4 | 4 | 4 | 3 | 3 | 5 | 14 | 21 |
| PBT | 0 | 2 | 2 | 1 | 1 | 1 | 2 | 5 | 11 | 8 | −7 | 301 | 180 |
| Tax % | −208% | 26% | −24% | −55% | 53% | −6% | 0% | 12% | 0% | 8% | 102% | 11% | — |
| Net Profit | 1 | 1 | 3 | 2 | 0 | 1 | 2 | 5 | 9 | −13 | −14 | 268 | 167 |
| EPS (₹) | 0.1 | 0.18 | 0.37 | 0.23 | 0.04 | 0.1 | 0.25 | 0.63 | 1.2 | −1.73 | −1.9 | 15.21 | 9.08 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 74 | 74 | 74 | 74 | 176 |
| Reserves | 126 | 84 | 87 | 91 | 93 | 96 | 97 | 111 | 120 | 107 | 131 | 292 |
| Borrowings | 94 | 98 | 46 | 47 | 41 | 40 | 34 | 29 | 146 | 147 | 148 | 332 |
| Other Liabilities | 49 | 56 | 96 | 114 | 144 | 151 | 141 | 73 | 38 | 38 | 116 | 259 |
| Total Liabilities | 312 | 282 | 273 | 297 | 322 | 331 | 317 | 286 | 377 | 366 | 468 | 1,059 |
| Fixed Assets | 193 | 194 | 187 | 141 | 208 | 243 | 248 | 204 | 179 | 187 | 202 | 325 |
| CWIP | 0 | 0 | 0 | 58 | 31 | 0 | 0 | 0 | 0 | 0 | 0 | 9 |
| Investments | 12 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 133 | 112 | 75 | 10 |
| Other Assets | 108 | 88 | 86 | 98 | 83 | 89 | 69 | 82 | 65 | 66 | 192 | 714 |
| Total Assets | 312 | 282 | 273 | 297 | 322 | 331 | 317 | 286 | 377 | 366 | 468 | 1,059 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | −14 | 16 | 45 | 16 | 51 | 17 | 20 | 16 | 15 | 22 | 19 | −210 |
| Investing | −1 | −12 | 9 | −12 | −38 | −6 | −3 | −10 | −133 | 10 | 20 | 278 |
| Financing | 9 | −3 | −58 | −4 | −11 | −8 | −16 | 22 | 85 | −17 | −50 | −57 |
| Net Cash Flow | −6 | 1 | −4 | 0 | 2 | 3 | 1 | 28 | −33 | 15 | −10 | 11 |
| Free Cash Flow | −16 | 2 | 54 | 4 | 13 | 11 | 17 | 15 | 32 | 11 | 2 | 123 |
| CFO/EBITDA | −59 | 107 | 809 | 170 | 2,622 | 323 | 483 | −93 | −106 | −252 | −83 | −389 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 326 | 377 | 343 | 411 | 345 | 382 | 191 | 158 | 0 | — | 201 | 270 |
| Inventory Days | — | — | — | — | — | — | — | — | — | — | 99 | 382 |
| Days Payable | — | — | — | — | — | — | — | — | — | — | 99 | 381 |
| Cash Conversion Cycle | 326 | 377 | 343 | 411 | 345 | 382 | 191 | 158 | 0 | — | 201 | 271 |
| Working Capital Days | −138 | −401 | −259 | −310 | −555 | −611 | −581 | −72 | 4,960 | — | 50 | 123 |
| ROCE % | 4% | 4% | 0% | 3% | 4% | 4% | 4% | 2% | 8% | 8% | 4% | 12% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Sigma Advanced System insights
59 extracted metrics across FY11–FY27.
Documents
- 25 May 2026
- 10 Dec 2025
- 10 Jun 2025
- 2 Jun 2025
- 10 Mar 2025
- 23 Jan 2025
- General announcements 3 Nov 2026
- General announcements 28 Oct 2026
- General announcements 26 Oct 2026
- General announcements 21 Oct 2026
Frequently Asked Questions about Sigma Advanced System
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Company Information
Incorporated in 1999, Sigma Advanced Systems is a Hyderabad-based aerospace and defense manufacturing company
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