GACM Technologies Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2013 • Infrastructure: 57.7% • Cloud Services: 22.5% • Securities & Currency Broking and Trading: 19.8%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 229.1%
- Solid return on assets for a lender - ROA of 9.8%
- Asset quality is healthy - gross NPA of just 0.0%
- Operating margins have improved to 43.0% from -541.0%
- Company has delivered good sales growth of 46.8% CAGR over last 5 years
CONS
- Capital adequacy is tight at 0.0% - limited headroom to grow
- Recent results are weak - TTM profit is down 32.5% versus prior year
- Promoter holding has decreased over last 2 years: -7.4pp
- Company has a low return on capital employed of 9.1%
- Thin net interest margin of 0.0%
- Free cash flow has been persistently negative
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MCX | 3285.00 | 54.33 | 83764.82 | 0.24 | 413.44 | 103.47 | 702.00 | 88.10 | 48.10 | 70.40 |
| MOTILALOFS | 1020.95 | 31.05 | 61494.19 | 0.59 | 1273.71 | 9.53 | 3425.76 | 25.49 | 12.68 | 57.49 |
| 360ONE | 1190.00 | 38.43 | 48500.18 | 1.01 | 330.53 | 16.11 | 1226.09 | 26.85 | 12.28 | 63.01 |
| NUVAMA | 1840.70 | 31.31 | 33909.05 | 1.52 | 305.64 | 15.83 | 1376.22 | 22.59 | 20.45 | 52.80 |
| ANGELONE | 279.00 | 24.71 | 25501.62 | 1.45 | 231.40 | 102.15 | 1429.69 | 25.35 | 14.87 | 33.92 |
| CHOICEIN | 762.65 | 71.48 | 16990.05 | 0.00 | 60.61 | 26.37 | 309.79 | 32.46 | 23.09 | 33.83 |
| IIFLCAPS | 338.80 | 18.73 | 10678.26 | 0.89 | 1841.63 | 949.18 | 6314.82 | 922.86 | 23.27 | 35.76 |
| SHAREINDIA | 168.40 | 10.14 | 3685.02 | 0.95 | 124.41 | 47.45 | 448.09 | 31.25 | 21.00 | 44.76 |
| ARSSBL | 508.25 | 24.69 | 3205.35 | 0.98 | 23.35 | 2.35 | 246.10 | 22.37 | 19.72 | 39.54 |
| MONARCH | 373.60 | 16.36 | 2962.96 | 0.27 | 45.18 | -0.15 | 90.89 | -7.25 | 33.26 | 66.00 |
| GEOJITFSL | 82.99 | 31.94 | 2316.43 | 1.81 | 19.83 | -30.83 | 160.40 | 7.46 | 9.35 | 20.55 |
| GATECH | 1.03 | 23.93 | 164.57 | 0.00 | 1.52 | -53.10 | 4.50 | -32.84 | 16.43 | 67.80 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 2 | 1 | 2 | 2 | 3 | 3 | 4 | 6 | 4 | 4 | 5 | 41 | |
| 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 1 | 2 | 28 | |
| Operating Profit | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 2 | 3 | 28 |
| OPM % | 29.83% | 30.27% | 40.85% | 35.21% | 43.31% | 21.90% | 46.08% | 57.00% | 58.43% | 64.16% | 58.57% | 55.67% | 67.56% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 15 |
| 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 3 | 2 | 1 | 2 | 15 | |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 34.89% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Profit | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 3 | 2 | 1 | 2 | 15 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Equity Capital | 40 | 40 | 40 | 40 | 40 | 80 | 80 | 80 | 129 | 129 | 129 | 129 | 1,292 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 20 | 10 | 4 | 77 | 2 | 4 | 1 | 10 | 7 | 12 | 17 | |
| 15 | 9 | 7 | 84 | 5 | 11 | 13 | 9 | 5 | 7 | 8 | |
| Operating Profit | 5 | 2 | -3 | -6 | -3 | -0 | -7 | 1 | 2 | 6 | — |
| OPM % | 25 | 17 | -66 | -8 | -163 | -9 | -541 | 6 | 34 | 51 | — |
| Other Income | 0 | 0 | 0 | 0 | 0 | 6 | 4 | 0 | 0 | 1 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 0 |
| Depreciation | 4 | 2 | 2 | 2 | 2 | 1 | 0 | 1 | 1 | 1 | 5 |
| 1 | 0 | -4 | -40 | -8 | -1 | -8 | -1 | 1 | 5 | 6 | |
| Tax % | 31 | 51 | -1 | -3 | 0 | 0 | 0 | 0 | 0 | 18 | 0 |
| Net Profit | 0 | 0 | -4 | -41 | -8 | -1 | -8 | -1 | 1 | 4 | 6 |
| EPS | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 0 | 0 | -0 | -1 | -0 | -0 | -0 | -0 | 0 | 0 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 7%
- 5 Years:
- 47%
- 3 Years:
- 110%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 22%
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- -30%
- 5 Years:
- 7%
- 3 Years:
- -4%
- 1 Year:
- 51%
RETURN ON EQUITY
- 10 Years:
- 40%
- 5 Years:
- 130%
- 3 Years:
- 229%
- Last Year:
- 13%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 23 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 40 | 80 |
| 34 | 28 | 24 | -17 | -26 | -27 | -35 | -35 | -33 | -31 | |
| 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 |
| -0 | 8 | 3 | 2 | 3 | 7 | 18 | 18 | 9 | 10 | |
| Total Liabilities | 57 | 65 | 55 | 13 | 6 | 10 | 12 | 12 | 16 | 59 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 7 | 6 | 4 | 2 | 1 | 0 | 2 | 2 | 1 | 11 | |
| 28 | 36 | 36 | 4 | 0 | 0 | 0 | 0 | 0 | 12 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 14 | |
| Cash & Bank | 2 | 4 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 |
| 20 | 19 | 14 | 4 | 4 | 9 | 9 | 10 | 8 | 21 | |
| Total Assets | 57 | 65 | 55 | 13 | 6 | 10 | 12 | 12 | 16 | 59 |
| Total Debt | 1 | 9 | 3 | 0 | 1 | 4 | 17 | 17 | 8 | 0 |
| Net Working Capital | 20 | 15 | 4 | 5 | 3 | 2 | 2 | 3 | 7 | 14 |
| Contingent Liabilities | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book Value per Share | 2.47 | 1.98 | 1.83 | 0.40 | 0.11 | 0.07 | -0.21 | -0.23 | 0.18 | 0.61 |
| Face Value | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 4 | 2 | 5 | -3 | -3 | -10 | 0 | -2 | -6 | |
| Cash from Investing | -3 | -10 | 0 | 0 | 0 | 1 | -2 | -0 | 0 | -25 |
| Cash from Financing | -2 | 8 | -5 | -3 | 1 | 3 | 12 | -0 | 3 | 30 |
| -4 | 2 | -3 | 1 | -1 | 0 | -0 | -0 | 0 | -0 | |
| Free Cash Flow | 0 | 4 | 2 | 5 | -3 | -3 | -12 | -0 | -2 | -17 |
| OCF / Net Profit | 1.07 | 82.16 | -0.39 | -0.11 | 0.33 | 3.06 | 1.26 | -0.15 | -2.23 | -1.56 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 8 | 5 | -12 | -14 | -21 | -35 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 0.02 | 0.00 | -0.16 | -1.43 | -0.29 | -0.03 | -0.28 | -0.04 | 0.03 | 0.05 |
| Book Value (₹) | 2.47 | 1.98 | 1.83 | 0.40 | 0.11 | 0.07 | -0.21 | -0.23 | 0.18 | 0.61 |
| 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 (₹) | 0.20 | 0.06 | -0.09 | -1.33 | -0.22 | -0.01 | -0.26 | -0.02 | 0.04 | 0.07 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 24.63% | 16.83% | -65.62% | -8.22% | -163.47% | -9.03% | -541.00% | 5.58% | 33.57% | 43.05% |
| Net Margin % | 1.92% | 0.50% | -108.02% | -53.01% | -468.56% | -22.81% | -624.84% | -12.70% | 15.32% | 30.84% |
| ROE % | 0.67% | 0.09% | -8.23% | -128.76% | -115.05% | -38.99% | 0.00% | 0.00% | 673.96% | 13.23% |
| ROCE % | 0.95% | 0.17% | -7.30% | -119.12% | -105.70% | -19.37% | -89.85% | -1.48% | 13.70% | 15.14% |
| 0.65% | 0.08% | -7.50% | -120.08% | -86.40% | -12.73% | -73.48% | -9.92% | 7.67% | 9.82% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 37 | 195 | 319 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 33 | 0 | 106 | 0 | 109 |
| 0 | 0 | 0 | 0 | 0 | -33 | 0 | -69 | 195 | 210 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.02x | 0.15x | 0.07x | 0.00x | 0.43x | 1.88x | -2.78x | -2.57x | 1.12x | 0.00x |
| Interest Coverage (x) | 205.90x | 116.33x | -3358.95x | 0.00x | 0.00x | -1954.29x | -12.16x | -0.15x | 2.74x | 15.45x |
| 11.16x | 41.08x | 15.28x | 3.37x | 3.12x | 1.64x | 2.66x | 2.62x | 4.22x | 5.03x | |
| GROWTH | ||||||||||
| Revenue Growth % | 237.23% | -48.24% | -59.32% | 1759.32% | -97.71% | 147.41% | -70.42% | 640.83% | -24.73% | 67.05% |
| Operating Profit Growth % | 22.83% | -64.62% | -258.57% | -132.99% | 54.56% | 86.33% | -1672.05% | 107.64% | 358.40% | 148.97% |
| Net Profit Growth % | -24.65% | -86.43% | -8840.68% | -812.43% | 79.79% | 87.95% | -710.25% | 84.95% | 190.80% | 236.30% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 165.33% | 67.88% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 36.42x | 12.90x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 5.94x | 0.87x |
| 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 | 21.85x | 7.72x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-31 - GACM Technologies Limited has informed the Exchange about change in Management
2026-08-31 - GACM Technologies Limited has informed the Exchange regarding Outcome of Board Meeting held on August 31, 2026.
2026-08-31 - GACM Technologies Limited has informed the Exchange regarding Outcome of Board Meeting held on August 31, 2026.
2026-08-31 - GACM Technologies Limited has informed the Exchange regarding Outcome of Board Meeting held on August 31, 2026.
2026-08-27 - GACM Technologies Limited has informed the Exchange regarding 'MEMORANDUM OF UNDERSTANDING (MOU) WITH WINFLUENTIAL PRIVATE LIMITED'.
2026-08-21 - GACM Technologies Limited has informed the Exchange regarding a press release dated August 21, 2026, titled "Successfully Completion of Qualified Institutions Placement by the Company".
2026-08-19 - GACM Technologies Limited has informed the Exchange regarding 'Corrigendum to the Placement Document dated August 17, 2026'.
2026-08-17 - GACM Technologies Limited has informed the Exchange regarding allotment of 495000000 securities pursuant to Qualified Institution Placement at its meeting held on August 17, 2026
2026-08-17 - GACM Technologies Limited has informed the Exchange regarding Outcome of Fund-Raising Committee Meeting held on August 17, 2026.
News
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