MarketFriction

Avio Smart Market Stack Limited

NSE ASMS · BSE 532694 · IT Enabled Services
₹5.92 -2.31%
NSE close2026-10-01
52 week range5.10 - 16.70
Market cap₹184 Cr.
P/E28.7
Price band 20% Delivery 73.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Mar 2025Jun 2025Dec 2025Mar 2026Jun 2026
Sales16.2216.2918.2315.3713.7311.4712.058.918.8348.3434.3911.97
Expenses14.7214.7816.4114.0412.7711.6512.199.019.6545.7532.0711.84
Operating Profit1.501.511.821.330.96-0.18-0.14-0.10-0.822.592.320.13
OPM %9.25%9.27%9.98%8.65%6.99%-1.57%-1.16%-1.12%-9.29%5.36%6.75%1.09%
Other Income0.010.050.040.000.130.07460.081.520.030.150.420.87
Interest13.1013.1013.1013.1013.100.000.000.000.000.000.070.27
Depreciation1.071.071.071.071.051.051.010.010.010.060.050.08
Profit before tax-12.66-12.61-12.31-12.84-13.06-1.16458.931.41-0.802.682.620.65
Tax %-1.11%-1.11%-1.22%5.76%-1.30%-13.79%4.15%33.33%-156.25%8.96%20.23%-41.54%
Net Profit-12.52-12.46-12.16-13.58-12.90-1.00439.880.930.452.452.080.92
EPS in Rs-3.68-3.66-3.57-3.99-3.79-0.3314.440.030.010.080.070.03
Sep 2013Mar 2015 18mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2025Mar 2026
Sales1531081098575696663655240104
Expenses23515697756185595760504099
Operating Profit-82-48121014-167662-05
OPM %-53%-44%11%12%19%-24%11%9%9%3.8%-0.7%4.6%
Other Income636219-32030046031
Interest5170565252525252522600
Depreciation535711665544400
Profit before tax-122-113-36-51-42-74-47-50-5143225
Tax %-37%-13%-6%-1%-1%-10%9%-2%-1%5%27%-9%
Net Profit-77-99-33-51-42-66-51-49-5041226
EPS in Rs-22.51-28.98-9.83-14.98-12.29-19.48-15.06-14.46-14.7713.540.060.20
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-1%11%26%160%
Compounded Profit Growth-13%16%30%783%
Stock Price CAGR-7%16%-18%-57%
Return on Equity%%%19%
Sep 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2025Mar 2026
Equity Capital343434343434343434303030
Reserves3302282051631461251146032498-24
Borrowings7006257057236697201,0451,0901,154009
Other Liabilities811693728726634601406395398222425
Total Liabilities1,8751,5791,6721,6461,4831,4801,6001,5781,6197503368
Fixed Assets32326725824823923422722321819902
CWIP131414141414121212000
Investments0000000000514
Other Assets1,5391,2981,4001,3841,2301,2331,3611,3441,3885512753
Total Assets1,8751,5791,6721,6461,4831,4801,6001,5781,6197503368
Sep 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2025Mar 2026
Cash from Operating Activity94123-84-4961274-4-21
Cash from Investing Activity-56-245-144310001-1-10
Cash from Financing Activity-44-1174-20-52-69-250-208
Net Cash Flow-6-1811-00224-6-3-0
Free Cash Flow95121-93-1965274-42-0
CFO/OP-115%-256%-61%35%-27%-56%866%461%70%-207%669%29%
Sep 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2025Mar 2026
Debtor Days3,1473,6033,9044,9404,3535,0305,9236,0996,0512,3632291
Inventory Days1553479617377124389210
Days Payable1,5282,7921,7535,4288,1854,9363,17919,74423,400137
Cash Conversion Cycle1,6358642,198-391-3,6591712,8676,099-13,304-21,01622-46
Working Capital Days-299-613-634-977-1,147-1,396-1,438-1,826-1,9082,188-72
ROCE %-8%-4%8%0%1%-2%1%0%0%-0%16%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters90.00%90.00%90.00%89.75%85.57%81.29%75.00%75.00%69.37%69.37%67.50%65.82%
FIIs0.00%0.00%0.00%0.00%0.00%3.19%3.97%1.36%1.68%1.68%1.67%1.50%
DIIs0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.22%
Public9.78%9.77%9.78%10.03%14.22%15.30%20.81%23.43%28.74%28.74%30.62%32.47%
No. of Shareholders35,94835,68838,59439,61048,05450,47259,47760,22161,74760,78872,31971,131

Fundamentals

Market Cap₹ 184 Cr.
Current Price₹ 6.08
Stock P/E28.7
Book Value₹ 1.12
ROCE15.5 %
ROE19.0 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)160%
Compounded Profit Growth (TTM)783%
Consolidated figures.
Valuation
Market capRs 180 Cr
Enterprise valueRs 188 Cr
P/E (TTM)30.56x
Price to book5.28x
Price to sales1.74x
EV / EBITDA34.59x
EV / EBIT35.91x
EV / sales1.81x
Price to cash flow130.66x
Earnings yield3.27%
P/E, 3-year average90.56x
P/B, 3-year average7.06x
P/E, 5-year average90.56x
P/B, 5-year average4.31x
Profitability
Operating margin (excl. other income)4.61%
Operating margin (incl. other income)5.45%
EBITDA margin5.24%
Pre-tax margin4.97%
Net profit margin5.70%
Net margin, latest quarter7.69%
ROE19.03%
ROCE15.50%
ROA11.81%
ROE, 3-year average52.78%
ROCE, 3-year average22.92%
ROA, 3-year average15.69%
ROE, 5-year average10.98%
ROCE, 5-year average13.81%
ROA, 5-year average8.17%
ROIC (approx.)13.65%
Tax rate-8.81%
Other income / net worth2.57%
Growth
Sales growth (latest year)159.64%
Profit growth (latest year)239.43%
Sales CAGR, 3 years16.68%
Sales CAGR, 5 years9.47%
Sales growth QoQ-65.19%
Profit growth QoQ-55.77%
Sales growth YoY (latest quarter)34.34%
Profit growth YoY (latest quarter)-1.08%
Per share
EPS (TTM)Rs 0.19
EPS (latest year)Rs 0.20
EPS (latest quarter)Rs 0.03
EPS, 3-year averageRs 4.60
EPS, 5-year averageRs -3.09
Book value per shareRs 1.12
Sales per shareRs 3.40
Cash flow per shareRs 0.05
Free cash flow per shareRs -0.00
Efficiency
Asset turnover1.53x
Fixed asset turnover55.01x
Inventory turnover4503.50x
Inventory days0 days
Debtor days91 days
Debtors turnover4.02x
Creditor days137 days
Cash conversion cycle-46 days
Working capital days2 days
Leverage
Total debtRs 9 Cr
Cash and bankRs 1 Cr
Net debtRs 8 Cr
Debt to equity0.26x
Net debt / EBITDA1.38x
Interest coverage65.38x
Owners' fund to total sources50.24%
Debt to assets12.86%
Cash flow
Cash from Operating Activity (latest year)Rs 1 Cr
Cash from Investing Activity (latest year)Rs -10 Cr
Cash from Financing Activity (latest year)Rs 8 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs -0 Cr
FCFE (approx.: FCF + change in debt)Rs 9 Cr
Cash from ops / profit, 5 years0.08x
Sales to cash flow75.33x
Statement figures
Net sales (TTM)Rs 104 Cr
Net sales (latest year)Rs 104 Cr
Sales (latest quarter)Rs 12 Cr
Operating profit excl. other income (latest year)Rs 5 Cr
Operating profit (latest quarter)Rs 0 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 5 Cr
PBDT (TTM)Rs 5 Cr
Profit before tax (TTM)Rs 5 Cr
Tax (latest year)Rs -0 Cr
Net profit (TTM)Rs 6 Cr
Net profit (latest year)Rs 6 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 0 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 90 Cr
Total expenditure (latest year)Rs 99 Cr
Total income (latest year)Rs 105 Cr
Share capitalRs 30 Cr
ReservesRs 4 Cr
Shareholders' fundsRs 34 Cr
Total assetsRs 68 Cr
Net blockRs 2 Cr
InvestmentsRs 14 Cr
ReceivablesRs 26 Cr
InventoryRs 0 Cr
Other liabilitiesRs 25 Cr
Shares outstanding (crore)30.46
Ownership
Promoter holding65.82% (-9.18 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 30.6 is at the 86th percentile of its own 3.5-year range (median 1.2, low 0.5, high 38.2).
P/B 5.28 is at the 86th percentile (median 1.33).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodASMSNifty 50Difference
1 week-7.6%-2.8% -4.9 pts
1 month-18.2%-6.8% -11.4 pts
3 months-17.0%-7.6% -9.4 pts
6 months-15.4%+0.4% -15.8 pts
1 year-60.2%-9.9% -50.2 pts
2 years-75.0%-13.6% -61.4 pts
3 years-46.2%+14.2% -60.4 pts
5 years+96.0%+27.9% +68.1 pts

Red flags

F-score 6 of 8
explainWeak cash conversion Cash from operations was -1% of net profit over the last 3 years
explainReceivables outrunning sales Receivables grew 954% vs sales +160% in 2026
explainShare dilution Share count up 0% in a year, 796% in three
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹12 Cr +34.3% vs Mar 2025. Net profit ₹1 Cr -1.1%.
Against our estimate for Jun 2026: sales -15.3%, profit +16.9% in line.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-19Annual General Meeting
2023-09-22Annual General Meeting
DateTypeWhat it says
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026 along with a copy of minutes.
2026-09-30Press ReleaseA press release dated September 30, 2026, titled "ASMS and Huwel Lifesciences Join Hands to Expand Access to Compact RT-PCR Testing Across India".
2026-09-25CorrigendumCorrigendum to Notice of Annual General Meeting to be held on September 30, 2026
2026-09-24Press ReleaseA press release dated September 24, 2026, titled "ASMS and Ampivo to Expand Digital Agriculture and Farmer Services Across Rural India".
2026-09-15Reply to Clarification- FinaThe Exchange had sought clarification from Avio Smart Market Stack Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI...
2026-09-04Record DateRecord date for the purpose of Meeting is 23-Sep-2026.
2026-09-04Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-03Board meeting outcomeOutcome of Board Meeting held on September 03, 2026.
2026-09-03Clarification - Financial ReThe Exchange has sought clarification from Avio Smart Market Stack Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI...
2026-08-12UpdatesDisclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Incorporation of a step-down subsidia...
2026-08-12Board meeting outcomeAvio Smart Market Stack Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-29Press ReleaseA press release dated July 29, 2026, titled "Avio Smart Market Stack Limited and ProClime Join Hands to Develop Biochar-Based Soil Solutions for Clima...
2026-07-15General UpdatesGeneral Updates
2026-07-14Press Release (Revised)A revised press release dated July 14, 2026, titled "Avio Smart Market Stack Signs MoU with Government of Tripura to Set Up Freeze-Drying Facility for...
2026-07-14Press ReleaseA press release dated July 14, 2026, titled "Avio Smart Market Stack Signs MoU with Government of Tripura to Set Up Freeze-Drying Facility for Fruits ...
2026-07-01Press Release (Revised)A revised press release dated July 01, 2026, titled "Intellecap and Avio Smart Market Stack Join Hands to Digitally Empower Farmer Producer Organisati...
2026-07-01Press ReleaseA press release dated July 01, 2026, titled "Avio Smart Market Stack and StandardWings Partner to Build AI-Powered Digital Infrastructure for Rural In...
2026-06-29Shareholder meetingVoting results.
2026-06-17Disclosure under SEBI TakeovAvio Smart Market Stack Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of Indi...
2026-06-17Press ReleaseA press release dated Jun 17, 2026, titled "Avio Smart Market Stack Appoints Sandeep Pandya to Drive Global Expansion of its Diagnostics & Healthcare ...
2026-06-12Investor PresentationInvestor Presentation
2026-06-11Press ReleaseA press release dated Jun 11, 2026, titled "Avio Smart Market Stack Limited Strengthens Diagnostics & Healthcare Vertical Through Strategic Discussion...
2026-06-09Name ChangeThe name has been changed from Bartronics India Limited to Avio Smart Market Stack Limited w.e.f. June 15, 2026
2026-06-02Press ReleaseA press release dated Jun 02, 2026, titled "ASMS Crosses ₹100 Crore Revenue Mark in FY26; PAT Surges Over 240%.".
2026-05-29Board meeting outcomeBartronics India Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-07-07NCLTInfokall Enterprises Solutions Ltd Vs Bartronics Global Solutions Ltd Vs
2021-04-01NCLTInfokall Enterprises Solutions Ltd Vs Bartronics Global Solutions Ltd Vs
2021-02-19NCLTInfokall Enterprises Solutions Ltd Vs Bartronics Global Solutions Ltd Vs
2020-11-06NCLTIndian Bank Vs Bartronics India Ltd Vs
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
High low price variation greater than 150perc in previous 12 monthsHigh low price variation greater than 200perc in previous 365 Days

Quick answers

What is the market cap of Avio Smart Market Stack Limited?

Avio Smart Market Stack Limited (ASMS) has a market capitalisation of Rs 184 Cr. at the 2026-10-01 close.

What is the P/E ratio of Avio Smart Market Stack Limited?

Avio Smart Market Stack Limited trades at a P/E of 28.7 on trailing twelve-month profit, at the 2026-10-01 close.

What were Avio Smart Market Stack Limited's latest quarterly results?

In the Jun 2026 quarter, Avio Smart Market Stack Limited sales was Rs 12 Cr (+34.3% vs Mar 2025) and net profit was Rs 1 Cr.

What is the 52-week high and low of Avio Smart Market Stack Limited?

The 52-week high is Rs 16.70 and the 52-week low is Rs 5.10.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03