ACS Technologies Ltd.

•

acstechnologies.co.in/BSE: 530745NSE: ACSTECH

Market Cap₹ 360 Cr.

Current Price

High / Low₹ 55 / 32

Stock P/E37.3

Book Value₹ 23

Price to Book2.24

Dividend Yield0.00 %

ROCE6.6 %

ROE4.9 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Information Technology

Buy

IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.

Confidence

68%

View full sector analysis →

PROS

Working capital cycle has improved - days down from 246 to 128
Company maintains a comfortable, low leverage position

CONS

Company has a low return on capital employed of 7.7%
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -3.01x)
Promoter holding has decreased over last 2 years: -5.0pp
Company has a low return on equity of 7.4% over last 3 years
Total debt has risen sharply - up 64.9% year on year
Effective tax rate is unusually low at 14.3% - earnings may be flattered

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Information TechnologyITIT - Software

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	TCS	2312.00	16.80	836501.83	4.76	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1128.00	15.11	457768.62	4.26	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1310.25	20.41	355557.97	4.12	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	176.60	13.23	174910.92	6.23	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1597.00	30.48	156527.36	3.19	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4516.00	25.61	133954.19	1.66	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	12050.00	30.75	104935.17	3.32	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5624.00	46.13	88718.60	0.71	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1963.70	49.51	86987.61	0.80	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2457.05	24.55	46899.54	2.52	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3498.50	28.11	37111.23	1.66	357.10	12.97	2940.10	11.47	27.70	18.65
12.	ACSTECH	51.89	32.37	360.31	0.00	39.22	4671.29	951.19	3342.97	6.96	7.94

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	11	0	25	28	16	28	30	38	18	30	42	81	60
	10	15	22	24	14	25	27	36	16	25	35	77	55
Operating Profit	1	-15	3	4	2	3	3	2	2	5	6	4	4
OPM %	12.67%	—	11.70%	14.60%	14.19%	10.33%	8.55%	5.29%	11.96%	15.85%	15.46%	5.00%	7.49%
	0	0	0	-0	0	0	0	0	0	0	0	0	0
Interest	0	1	1	1	0	0	0	1	1	0	1	1	1
Depreciation	0	2	1	2	1	1	1	-1	1	1	1	1	1
Profit before Tax	1	0	1	2	1	1	1	2	1	3	5	2	5
Tax %	5.66%	-27.27%	0.00%	-41.61%	0.00%	0.00%	42.35%	18.06%	16.25%	41.40%	47.45%	-5.53%	34.38%
Net Profit	0	0	1	2	1	1	0	2	1	2	3	2	3
	0.09	0.09	0.22	0.37	0.13	0.24	0.08	0.32	0.11	0.33	0.43	0.34	0.49

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	77	15	3	0	-0	-0	0	69	81	112	212
	70	13	4	1	22	1	0	63	70	102	192
Operating Profit	7	2	-1	-0	-22	-1	-0	6	11	10	20
OPM %	8.57%	13.98%	-16.70%	-71.13%	472080.48%	68917.37%	—	8.83%	13.14%	8.72%	9.29%
	0	-1	-18	0	0	0	0	0	0	0	0
Interest	4	2	8	2	0	0	0	2	2	2	3
Depreciation	2	2	2	2	6	3	0	1	5	2	4
Profit before Tax	1	-3	-28	-4	-29	-3	-0	3	4	5	15
Tax %	20.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	4.40%	-18.90%	14.32%	34.98%
Net Profit	1	-3	-28	-4	-29	-3	-0	3	4	5	10
EPS	0.06	-0.28	-2.79	-0.39	-2.83	-0.33	0.00	0.61	0.69	0.75	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 4%
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: 7%
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: -2%
5 Years:: 4%
3 Years:: 7%
Last Year:: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	89	102	102	102	102	102	102	56	61	61
	99	111	83	79	47	47	-134	26	33	38
	35	32	38	41	41	39	28	15	14	25
Trade Payables	4	6	5	5	4	4	5	9	8	33
	29	2	1	1	1	0	0	4	4	4
Total Liabilities	256	251	228	227	196	193	1	110	120	161
	37	28	21	19	10	7	0	39	37	43
Capital Work in Progress	4	4	3	3	3	3	0	0	3	0
	171	165	115	115	114	114	0	2	2	2
	7	5	5	5	0	0	0	14	27	38
	0	0	0	0	0	0	0	0	41	47
Cash & Bank	2	1	1	1	1	1	1	2	2	2
	35	48	83	83	67	67	0	54	8	30
Total Assets	256	251	228	227	196	193	1	110	120	161

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2015	Mar 2016	Mar 2017	Mar 2023	Mar 2024	Mar 2025
	124	-1	-0	-1	-52	2	15
Cash from Investing	-134	0	0	0	-15	-6	-4
Cash from Financing	10	1	0	1	68	5	-11
	-0	-0	0	0	1	0	-0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	0.07	-0.28	-2.79	-0.39	-2.83	-0.33	-0.00	0.51	0.69	0.75
Book Value (₹)	21.07	20.91	18.12	17.73	14.67	14.65	-3.14	14.12	15.01	15.83
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	0.34	-0.09	-2.63	-0.23	-2.20	-0.06	-0.00	0.75	1.49	1.16
PROFITABILITY
Operating Margin %	8.90%	16.99%	-13.58%	-64.21%	0.00%	0.00%	0.00%	8.91%	13.14%	8.72%
Net Margin %	0.81%	-19.04%	-914.26%	-842.51%	0.00%	0.00%	0.00%	4.17%	5.20%	4.11%
ROE %	0.33%	-1.40%	-14.30%	-2.17%	-17.44%	-2.22%	-0.02%	12.26%	4.94%	4.89%
ROCE %	1.81%	-0.36%	-8.86%	-0.85%	-13.94%	-1.75%	-0.01%	10.55%	5.80%	6.63%
	0.25%	-1.11%	-11.83%	-1.73%	-13.58%	-1.70%	-0.01%	5.17%	3.65%	3.25%
EFFICIENCY
Debtor Days	75	427	2070	0	0	0	0	244	197	144
Inventory Days	36	146	633	4249	0	0	0	73	93	107
Payable Days	26	209	2046	0	438	0	0	50	55	87
	85	365	658	4249	-438	0	0	268	235	164
FINANCIAL HEALTH
Debt to Equity (x)	0.19x	0.15x	0.21x	0.23x	0.28x	0.26x	-0.87x	0.21x	0.17x	0.27x
Interest Coverage (x)	1.21x	-0.47x	-2.68x	-0.92x	0.00x	-2997.20x	0.00x	2.64x	2.50x	3.36x
	1.75x	1.83x	2.89x	2.84x	2.15x	1.69x	0.19x	3.05x	3.63x	1.70x
GROWTH
Revenue Growth %	3.10%	-80.97%	-78.33%	-85.35%	-101.03%	-81.05%	-100.00%	0.00%	17.37%	38.05%
Operating Profit Growth %	3.45%	-63.38%	-116.80%	28.57%	-7330.82%	97.39%	98.29%	0.00%	74.66%	-5.81%
Net Profit Growth %	-73.37%	-552.30%	-909.43%	86.08%	-627.42%	88.47%	99.70%	0.00%	46.42%	9.07%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	34.36%	9.07%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	6.99x	8.45x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	47.70	47.70	47.70	47.70	47.70	44.09	43.37	43.21	42.71
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	52.30	52.30	52.30	52.30	52.30	55.91	56.63	56.79	57.29

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for ACSTECH

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ACS Technologies Ltd.

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Name

TCS

2312.00

16.80

836501.83

4.76

13420.00

4.69

72275.00

13.93

66.25

25.67

INFY

1128.00

15.11

457768.62

4.26

7775.00

12.29

48211.00

14.03

42.84

23.66

HCLTECH

1310.25

20.41

355557.97

4.12

4626.00

20.34

34579.00

13.94

31.20

19.87

WIPRO

176.60

13.23

174910.92

6.23

3356.30

0.59

24478.60

10.59

18.49

18.93

TECHM

1597.00

30.48

156527.36

3.19

1486.30

31.67

15711.90

17.68

23.04

17.43

LTM

4516.00

25.61

133954.19

1.66

1468.60

17.06

11608.00

17.96

30.25

17.75

OFSS

12050.00

30.75

104935.17

3.32

1415.50

120.52

3125.20

68.73

45.50

60.04

PERSISTENT

5624.00

46.13

88718.60

0.71

483.04

13.67

4303.23

29.09

35.09

16.19

COFORGE

1963.70

49.51

86987.61

0.80

531.70

49.19

5527.70

49.86

24.70

19.14

MPHASIS

2457.05

24.55

46899.54

2.52

489.51

10.82

4384.05

17.46

23.31

18.15

LTTS

3498.50

28.11

37111.23

1.66

357.10

12.97

2940.10

11.47

27.70

18.65

ACSTECH

51.89

32.37

360.31

0.00

39.22

4671.29

951.19

3342.97

6.96

7.94

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

Operating Profit

-15

OPM %

12.67%

—

11.70%

14.60%

14.19%

10.33%

8.55%

5.29%

11.96%

15.85%

15.46%

5.00%

7.49%

-0

Interest

Depreciation

-1

Profit before Tax

Tax %

5.66%

-27.27%

0.00%

-41.61%

0.00%

42.35%

18.06%

16.25%

41.40%

47.45%

-5.53%

34.38%

Net Profit

0.09

0.22

0.37

0.13

0.24

0.08

0.32

0.11

0.33

0.43

0.34

0.49

Mar 2012

Mar 2013

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

-0

112

212

102

192

Operating Profit

-1

-0

-22

-1

-0

OPM %

8.57%

13.98%

-16.70%

-71.13%

472080.48%

68917.37%

—

8.83%

13.14%

8.72%

9.29%

-1

-18

Interest

Depreciation

Profit before Tax

-3

-28

-4

-29

-3

-0

Tax %

20.00%

-0.00%

4.40%

-18.90%

14.32%

34.98%

Net Profit

-3

-28

-4

-29

-3

-0

EPS

0.06

-0.28

-2.79

-0.39

-2.83

-0.33

0.00

0.61

0.69

0.75

—

Dividend Payout %

0.00%

—

Mar 2012

Mar 2013

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

102

111

-134

Trade Payables

Total Liabilities

256

251

228

227

196

193

110

120

161

Capital Work in Progress

171

165

115

114

Cash & Bank

Total Assets

256

251

228

227

196

193

110

120

161

Mar 2012

Mar 2013

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2022

Mar 2023

Mar 2024

Mar 2025

124

-1

-0

-1

-52

Cash from Investing

-134

-15

-6

-4

Cash from Financing

-11

-0

Mar 2012

Mar 2013

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

0.07

-0.28

-2.79

-0.39

-2.83

-0.33

-0.00

0.51

0.69

0.75

Book Value (₹)

21.07

20.91

18.12

17.73

14.67

14.65

-3.14

14.12

15.01

15.83

Dividend per Share (₹)

0.00

Cash EPS (₹)

0.34

-0.09

-2.63

-0.23

-2.20

-0.06

-0.00

0.75

1.49

1.16

PROFITABILITY

Operating Margin %

8.90%

16.99%

-13.58%

-64.21%

0.00%

8.91%

13.14%

8.72%

Net Margin %

0.81%

-19.04%

-914.26%

-842.51%

0.00%

4.17%

5.20%

4.11%

ROE %

0.33%

-1.40%

-14.30%

-2.17%

-17.44%

-2.22%

-0.02%

12.26%

4.94%

4.89%

ROCE %

1.81%

-0.36%

-8.86%

-0.85%

-13.94%

-1.75%

-0.01%

10.55%

5.80%

6.63%

0.25%

-1.11%

-11.83%

-1.73%

-13.58%

-1.70%

-0.01%

5.17%

3.65%

3.25%

EFFICIENCY

Debtor Days

427

2070

244

197

144

Inventory Days

146

633

4249

107

Payable Days

209

2046

438

365

658

4249

-438

268

235

164

FINANCIAL HEALTH

Debt to Equity (x)

0.19x

0.15x

0.21x

0.23x

0.28x

0.26x

-0.87x

0.21x

0.17x

0.27x

Interest Coverage (x)

1.21x

-0.47x

-2.68x

-0.92x

0.00x

-2997.20x

0.00x

2.64x

2.50x

3.36x

1.75x

1.83x

2.89x

2.84x

2.15x

1.69x

0.19x

3.05x

3.63x

1.70x

GROWTH

Revenue Growth %

3.10%

-80.97%

-78.33%

-85.35%

-101.03%

-81.05%

-100.00%

0.00%

17.37%

38.05%

Operating Profit Growth %

3.45%

-63.38%

-116.80%

28.57%

-7330.82%

97.39%

98.29%

0.00%

74.66%

-5.81%

Net Profit Growth %

-73.37%

-552.30%

-909.43%

86.08%

-627.42%

88.47%

99.70%

0.00%

46.42%

9.07%

0.00%

34.36%

9.07%

VALUATION

P/E (x)

0.00x

P/B (x)

0.00x

Dividend Yield %

0.00%

0.00x

6.99x

8.45x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

47.70

44.09

43.37

43.21

42.71

FIIs

0.00

DIIs

0.00

Government

0.00

52.30

55.91

56.63

56.79

57.29

ACS Technologies Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

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ACS Technologies Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI