Avance Technologies Ltd.

•

avance.inBSE: -NSE: AVANCE

Market Cap₹ 163 Cr.

Current Price

High / Low₹ 1 / 1

Stock P/E11.5

Book Value₹ 2

Price to Book0.31

Dividend Yield0.00 %

ROCE1.8 %

ROE1.4 %

Face Value₹ 1

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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%

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PROS

Latest quarter profit grew 52.1% YoY, showing strong momentum
Company has consistently been profitable over the last 5 years
Company comfortably covers its interest (468.8x coverage)
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Operating cash flow has been negative in recent years
Company has a low return on capital employed of 1.1%
Company has a low return on equity of 0.9% over last 3 years
A large part of profit comes from other income (29.9% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -2.92x)

* 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	2300.90	16.72	832485.76	4.78	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1130.00	15.14	458580.27	4.25	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1294.00	20.15	351148.26	4.17	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	176.80	13.25	175109.01	6.22	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1592.00	30.38	156037.29	3.20	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4550.00	25.80	134962.70	1.65	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	12067.35	30.79	105086.26	3.31	14155.00	2105.17	31252.00	1587.29	45.50	60.04
8.	PERSISTENT	5655.00	46.38	89207.62	0.71	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1967.45	49.61	87153.72	0.80	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2425.35	24.23	46294.46	2.56	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3492.45	28.07	37047.05	1.66	357.10	12.97	2940.10	11.47	27.70	18.65
12.	AVANCE	0.82	11.54	162.52	0.00	2.47	52.13	60.65	62.07	1.81	2.52

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	3	17	19	106	47	44	32	48	37	41	50	31	61
	2	16	17	106	45	41	31	50	37	43	48	31	59
Operating Profit	0	1	2	-0	2	3	2	-2	1	-2	1	-1	2
OPM %	7.03%	4.12%	10.09%	-0.27%	4.67%	6.18%	4.85%	-3.83%	1.79%	-4.15%	2.24%	-1.75%	2.51%
	0	0	0	3	0	0	0	2	1	1	1	11	1
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	-0	0
Profit before Tax	0	1	2	2	2	3	2	0	2	-1	2	10	2
Tax %	0.00%	0.00%	0.00%	4.46%	0.00%	0.00%	0.00%	1006.67%	0.00%	-0.00%	0.00%	0.10%	0.00%
Net Profit	0	0	0	0	2	3	2	-1	2	-1	2	10	2
	0.00	0.02	0.01	0.01	0.01	0.01	0.01	-0.01	0.01	0.00	0.01	0.05	0.01

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2023	Mar 2024	Mar 2025	TTM
	102	90	29	31	144	172	182
	102	90	29	30	142	167	182
Operating Profit	-0	0	0	0	2	5	0
OPM %	-0.03%	0.22%	0.56%	1.61%	1.73%	3.01%	0.20%
	-1	0	0	0	3	2	14
Interest	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0
Profit before Tax	-1	0	0	1	5	7	14
Tax %	-0.09%	0.42%	29.04%	19.24%	2.98%	27.80%	0.07%
Net Profit	-1	0	0	0	5	5	14
EPS	0.00	0.00	0.00	0.00	0.02	0.03	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 11%
3 Years:: 80%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 254%

STOCK PRICE CAGR

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

RETURN ON EQUITY

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

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2023	Mar 2024	Mar 2025
Equity Capital	198	198	198	198	198	198
	188	188	189	173	178	183
	0	0	150	0	0	56
Trade Payables	57	60	61	63	112	62
	0	2	0	0	1	2
Total Liabilities	444	448	598	435	489	500
	224	222	223	276	250	235
	20	21	20	7	20	36
	0	0	0	0	12	11
Cash & Bank	0	0	0	0	15	21
	200	205	355	152	192	198
Total Assets	444	448	598	435	489	500

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2023	Mar 2024	Mar 2025
	28	-1	0	6	30	-68
Cash from Investing	-28	2	-150	7	26	18
Cash from Financing	0	0	150	-14	-42	56
	-0	0	-0	0	15	6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.68
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
	99.32	99.32	99.32	99.32	99.32	99.32	99.32	99.32	99.32

Documents

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

No announcements filed.

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