Sigma Advanced System logo

Sigma Advanced System

SIGMAADV NSE

Key Fundamentals

SmallcapTelecom ServicesTelecom
Market Cap
₹14,082 Cr
Volatility
Moderate
P/E Ratio
91.68
EBITDA
₹37.38 Cr
Return on Equity
5.88%
Debt to Equity
0.71
Book Value
₹48.21
52W High
₹801
52W Low
₹140.1

Tapetide Score

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

Key Insights

Strengths

2
  • Company has delivered good profit growth of 172% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 35.8%

Weaknesses

4
  • Stock is trading at 31.3 times its book value
  • Promoter holding has decreased over last quarter: -4.98%
  • Earnings include an other income of Rs.101 Cr.
  • Company has high debtors of 270 days.

Growth Rate

Revenue Growth
—
Net Income Growth
—
Cash Flow Change
63.36% lower than 3Y
ROE
40% higher than 3Y
ROCE
21.1% lower than 3Y
EBITDA Margin (Avg.)
-93.66% higher than 3Y

AI Analysis — Bull vs Bear

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

Sigma Advanced System Ltd is a small-cap industrial company with a market cap of ~₹14,082 Cr that has delivered explosive revenue growth of 964% on a TTM basis and 5-year compounded profit CAGR of 172%. However, the stock trades at a PE of 90.1x and 29.8x book value, with high debtor days of 270 and a notable ₹101 Cr other income component in recent earnings.

Bull Case 7
  • TTM sales growth of 964% indicates a massive ramp-up in revenue generation, suggesting strong order execution or a step-change in business scale
  • 5-year compounded profit growth of 172% CAGR demonstrates sustained earnings expansion over a meaningful period, not just a one-year spike
  • 3-year ROE of ~36% reflects efficient capital deployment and strong profitability relative to equity base
  • Last year ROE surged to 91%, indicating an exceptionally profitable year relative to shareholder equity
  • 3-year compounded sales CAGR of 530% shows revenue acceleration has been building momentum over multiple years
  • Stock price CAGR of 389% over 1 year and 155% over 3 years reflects strong market recognition and re-rating of the business
  • 10-year compounded profit CAGR of 71% shows the company has a long track record of earnings growth, not just a recent phenomenon
Bear Case 8
  • PE ratio of 90.1x is extremely elevated, pricing in significant future growth and leaving little margin of safety if execution falters
  • Stock trades at 29.8x book value, which is very high for an industrials company and implies substantial premium over tangible asset backing
  • Debtor days of 270 indicate customers take roughly 9 months to pay, creating working capital strain and potential collection risk
  • Earnings include ₹101 Cr of other income, raising questions about the sustainability and quality of core operating profits
  • Promoter holding decreased by 4.98% in the last quarter, which may signal reduced insider confidence at current valuations
  • Zero dividend yield suggests the company retains all earnings, offering no income return to shareholders despite high profitability
  • TTM profit growth of only 20% is sharply lower than the 3-year CAGR of 228%, suggesting a potential deceleration in earnings momentum
  • Debt-to-equity ratio is unavailable (null), limiting visibility into the company's leverage and financial risk profile

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 1
  • Net profit drops sharply Q1FY27 Aug 17

    Despite 16% QoQ revenue growth to ₹374 crore in Q1FY27, net profit fell sharply due to significantly lower other income, raising questions about earnings quality.

Positives 4
  • Sri City aerospace plant operational Sep 10

    Production has begun at the 75,000 sq ft Sri City facility offering 100,000 annual machining hours, with plans to scale to 300,000 hours replicating UK capabilities.

  • ₹155 Cr Home Ministry order Aug 17

    Secured ₹155 crore anti-drone vehicle order from the Home Ministry, taking total order book to ₹9,243 crore with a strong 9.5x book-to-bill ratio.

  • Q1FY27 revenue up 16% QoQ Aug 17

    Q1FY27 revenue rose 16% QoQ to ₹374 crore and operational EBITDA grew 11% to ₹61 crore, reflecting improving top-line momentum.

  • ₹1,900 Cr FY27 order pipeline Aug 18

    Company expects orders worth ₹1,900 crores in FY27, signaling a healthy anticipated order pipeline for the current fiscal year.

Neutral 3
  • Investor plant visit Sep 11 Sep 11

    Scheduled a full-day physical plant visit at the Sri City manufacturing facility in Andhra Pradesh on September 11, 2026, sharing only public domain information.

  • 26th AGM set for Sep 30 Sep 8

    26th Annual General Meeting scheduled for September 30, 2026, with e-voting commencing September 26. Board approved notice and directors' report for FY26.

  • Kotak Manufacturing Forum attendance Aug 17

    Participating in the Kotak Manufacturing Forum 2026, a physical group conference at BKC Mumbai on August 20, 2026.

TL;DR: Sigma Advanced Systems is executing well on growth with Sri City production now live and a robust ₹9,243 crore order book at 9.5x book-to-bill. Revenue momentum is solid at 16% QoQ growth, though the sharp drop in net profit due to lower other income is a near-term concern on earnings quality. The capacity ramp from 100,000 to 300,000 machining hours and ₹1,900 crore expected FY27 orders suggest an improving trajectory, provided execution keeps pace with the expanding order book.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
3
Interest
4
4
4
5
4
4
5
5
4
0
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 in Rs
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
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015 15mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
98
63
67
66
62
57
59
52
2
0
0
492
861
Expenses
73
47
62
57
60
51
55
71
20
9
10
444
737
Operating Profit
25
16
6
10
2
5
4
-18
-18
-9
-10
48
124
OPM %
25%
25%
8%
14%
3.2%
9%
7%
-35%
-898%
—
14%
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
18
20
24
Depreciation
14
7
5
4
4
4
4
4
3
3
4
14
21
PBT
0
2
2
1
1
1
2
5
11
8
8
299
180
Tax %
-208%
26%
-24%
-55%
53%
-6%
0%
12%
0%
8%
0%
11%
—
Net Profit
1
1
3
2
0
1
2
5
9
-13
-30
268
167
EPS in Rs
0.1
0.18
0.37
0.23
0.04
0.1
0.25
0.63
1.2
-1.73
-4.06
15.21
9.08
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
70
292
Borrowings
94
98
46
47
41
40
34
29
146
147
139
332
Other Liabilities
49
56
96
114
144
151
141
73
38
38
82
259
Total Liabilities
312
282
273
297
322
331
317
286
377
366
364
1,059
Fixed Assets
193
194
187
141
208
243
248
204
179
187
200
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
67
10
Other Assets
108
88
86
98
83
89
69
82
65
66
97
714
Total Assets
312
282
273
297
322
331
317
286
377
366
364
1,059
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-14
16
45
16
51
17
20
16
15
22
37
-225
Investing
-1
-12
9
-12
-38
-6
-3
-10
-133
10
-19
-6
Financing
9
-3
-58
-4
-11
-8
-16
22
85
-17
-26
242
Net Cash Flow
-6
1
-4
0
2
3
1
28
-33
15
-8
11
Free Cash Flow
-16
2
54
4
13
11
17
15
32
11
19
108
CFO/OP
-59
107
809
170
2,622
323
483
-93
-106
-252
-352
-444
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
326
377
343
411
345
382
191
158
0
—
—
270
Inventory Days
—
—
—
—
—
—
—
—
—
—
—
382
Days Payable
—
—
—
—
—
—
—
—
—
—
—
381
Cash Conversion Cycle
326
377
343
411
345
382
191
158
0
—
—
271
Working Capital Days
-138
-401
-259
-310
-555
-611
-581
-72
4,960
—
—
123
ROCE %
4%
4%
0%
3%
4%
4%
4%
2%
8%
8%
9%
61%

Insights

Beta

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

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Shareholding Pattern

DIIs0.02%Promot.71.22%FIIs0.24%Others4.93%Public23.59%As ofJun 2026

Documents

Frequently Asked Questions about Sigma Advanced System

What does Sigma Advanced System Ltd do?
Incorporated in 1999, Sigma Advanced Systems is a Hyderabad-based aerospace and defense manufacturing company[1]
Where is Sigma Advanced System Ltd (SIGMAADV) listed?
Sigma Advanced System Ltd trades as SIGMAADV on the NSE and under code 532408 on the BSE.
Which sector does Sigma Advanced System Ltd belong to?
Sigma Advanced System Ltd is classified under the Industrials sector, in the Aerospace & Defense industry.
What is the market capitalisation of Sigma Advanced System Ltd?
Sigma Advanced System Ltd has a market capitalisation of ₹14,082 Cr, which places it in the Mid Cap band.
What is the PE ratio of Sigma Advanced System Ltd?
Sigma Advanced System Ltd trades at a PE ratio of 91.68, against a book value of ₹48.21 per share.
What is the 52-week high and low of Sigma Advanced System Ltd?
Over the last 52 weeks Sigma Advanced System Ltd has traded between ₹140.1 and ₹801.
What is the Return on Equity (ROE) of Sigma Advanced System Ltd?
Sigma Advanced System Ltd reported a return on equity of 5.88%. Its debt-to-equity ratio is 0.71.

Company Information

Incorporated in 1999, Sigma Advanced Systems is a Hyderabad-based aerospace and defense manufacturing company[1]

Website sigmaadvsys.com
CEO Mr. Sunil Kumar Kalidindi
Listed 2007-07-19
Face Value ₹ 10
Issued Size 7,37,70,041

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