---
title: "Accord Synergy Ltd (ACCORD) — Share Price, Financials & Analysis"
symbol: "ACCORD"
company: "Accord Synergy Ltd"
canonical: "https://tapetide.com/stocks/ACCORD"
isin: "INE113X01015"
nse_symbol: "ACCORD"
sector: "Telecom"
industry: "Telecom Services"
market_cap_cr: 72.97
generated_at: "2026-09-13T20:15:35.604Z"
---

# Accord Synergy Ltd (ACCORD)

Canonical page: https://tapetide.com/stocks/ACCORD

## Company

- **NSE Symbol:** ACCORD
- **ISIN:** INE113X01015
- **Sector:** Telecom
- **Industry:** Telecom Services
- **Macro Sector:** Telecommunication
- **Stock Type:** EQUITY
- **Listed Since:** 2017-07-06
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** accordsynergy.com

## About

Incorporated in 2014, Accord Synergy Ltd is in the business of providing telecom related services, and undertakes civil contracts.[1]

## Latest Price

- **Price:** ₹188.45
- **Change:** -9.9 (-4.99%)
- **Open:** ₹188.45
- **Day High:** ₹188.45
- **Day Low:** ₹188.45
- **Previous Close:** ₹198.35
- **Volume:** 2000
- **As Of:** 2026-09-04T04:05:57+00:00

## Key Fundamentals

Observed at 2026-09-11T04:52:02.846636Z.

- **Market Cap:** ₹72.97 Cr
- **Classification:** SME
- **P/E (reported):** 54.6
- **Book Value:** ₹42.78
- **Price to Book:** 4.4
- **Dividend Yield:** 0%
- **ROE:** -9.4%
- **ROCE:** -8.72%
- **Debt to Equity:** 0.05
- **Revenue (yearly):** ₹36.82 Cr
- **Net Income:** ₹1.3 Cr
- **EBITDA:** ₹0.88 Cr
- **52-Week High:** ₹211
- **52-Week Low:** ₹19.85
- **RSI (14):** 70.93

## Key Insights

### Strengths

- Company is almost debt free.

### Weaknesses

- Stock is trading at 4.40 times its book value
- Promoter holding has decreased over last quarter: -40.0%
- Promoter holding is low: 32.0%
- Company has a low return on equity of 0.37% over last 3 years.
- Earnings include an other income of Rs.0.60 Cr.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -684.21% | 42.34% | -118.36% |
| ebitda margin growth | -0.2% | -157.74% | 0.43% | -111.58% |
| net income growth | -0.3% | -200% | 137% | 7% |
| revenue growth | 14.6% | 33.41% | 22% | -1% |
| roce | — | -457.38% | -547.18% | -5.83% |
| roe | — | -454.72% | -1.56% | -272.48% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 15.49 | 23.57 | 15.29 | 9.67 | 6.58 | 13.57 | 15.55 | 16.32 | 12.94 | 14.4 | 19.14 | 17.68 |
| Expenses | 14.52 | 22.1 | 16.77 | 13.49 | 6.42 | 13.28 | 15.22 | 16.04 | 13.89 | 14.81 | 18.43 | 17.51 |
| Operating Profit | 0.97 | 1.47 | -1.48 | -3.82 | 0.16 | 0.29 | 0.33 | 0.28 | -0.95 | -0.41 | 0.71 | 0.17 |
| OPM % | 6.26 | 6.24 | -9.68 | -39.5 | 2.43 | 2.14 | 2.12 | 1.72 | -7.34 | -2.85 | 3.71 | 0.96 |
| Other Income | 0.2 | 0.19 | 0.02 | 0.16 | 0.02 | 0.28 | 0.05 | 0.09 | 0.05 | 0.19 | 0.48 | 0.12 |
| Interest | 0.47 | 0.33 | 0.17 | 0.21 | 0.04 | 0.01 | 0 | 0.01 | 0.01 | 0.01 | 0.02 | 0.05 |
| Depreciation | 0.33 | 0.21 | 0.24 | 0.24 | 0.23 | 0.23 | 0.21 | 0.17 | 0.07 | 0.06 | 0.06 | 0.06 |
| Profit before tax | 0.37 | 1.12 | -1.87 | -4.11 | -0.09 | 0.33 | 0.17 | 0.19 | -0.98 | -0.29 | 1.11 | 0.18 |
| Tax % | 29.73 | 26.79 | -0.53 | -0.97 | -33.33 | -9.09 | -17.65 | 0 | 0 | 0 | -2.7 | 0 |
| Net Profit | 0.26 | 0.83 | -1.86 | -4.07 | -0.07 | 0.37 | 0.2 | 0.19 | -0.98 | -0.29 | 1.15 | 0.18 |
| EPS in Rs | 0.75 | 2.39 | -5.36 | -11.72 | -0.2 | 1.07 | 0.58 | 0.55 | -2.82 | -0.84 | 3.31 | 0.52 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 64.07 | 55.81 | 77.54 | 66.87 | 39.06 | 24.96 | 20.15 | 31.88 | 27.34 | 36.82 |
| Expenses | 57.96 | 50.45 | 70.78 | 63.22 | 36.61 | 30.19 | 19.7 | 31.27 | 28.7 | 35.94 |
| Operating Profit | 6.11 | 5.36 | 6.76 | 3.65 | 2.45 | -5.23 | 0.45 | 0.61 | -1.36 | 0.88 |
| OPM % | 9.54 | 9.6 | 8.72 | 5.46 | 6.27 | -20.95 | 2.23 | 1.91 | -4.97 | 2.39 |
| Other Income | -0.08 | -0.01 | 0.17 | 0.34 | 0.39 | 0.11 | 0.3 | 0.14 | 0.24 | 0.6 |
| Interest | 1.08 | 1.09 | 1.29 | 1.03 | 0.8 | 0.38 | 0.05 | 0.01 | 0.02 | 0.07 |
| Depreciation | 0.76 | 0.96 | 1.12 | 0.56 | 0.54 | 0.48 | 0.46 | 0.38 | 0.13 | 0.11 |
| Profit before tax | 4.19 | 3.3 | 4.52 | 2.4 | 1.5 | -5.98 | 0.24 | 0.36 | -1.27 | 1.3 |
| Tax % | 31.98 | 35.15 | 26.11 | 27.08 | 27.33 | -0.84 | -25 | -8.33 | 0.79 | -2.31 |
| Net Profit | 2.85 | 2.15 | 3.34 | 1.74 | 1.09 | -5.93 | 0.3 | 0.39 | -1.27 | 1.33 |
| EPS in Rs | 11.4 | 6.19 | 9.62 | 5.01 | 3.14 | -17.08 | 0.86 | 1.12 | -3.66 | 3.83 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 2.5 | 3.47 | 3.47 | 3.47 | 3.47 | 3.47 | 3.47 | 3.47 | 3.47 | 3.47 |
| Reserves | 3.4 | 10.41 | 13.75 | 15.48 | 16.58 | 10.65 | 10.95 | 11.34 | 10.07 | 11.4 |
| Borrowings | 8.42 | 9.24 | 9.57 | 7.82 | 2.95 | 1.66 | 0 | 0 | 0.51 | 0.71 |
| Other Liabilities | 8.35 | 9.01 | 11.4 | 8.66 | 4.59 | 1.92 | 2.86 | 2.73 | 3.68 | 3.74 |
| Total Liabilities | 22.67 | 32.13 | 38.19 | 35.43 | 27.59 | 17.7 | 17.28 | 17.54 | 17.73 | 19.32 |
| Fixed Assets | 2.66 | 3.8 | 3.33 | 2.83 | 2.29 | 1.74 | 1.3 | 0.94 | 0.85 | 0.87 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.07 | 0 |
| Investments | 0 | 0.95 | 0 | 0.01 | 3.97 | 7.93 | 3.14 | 3.62 | 1.71 | 0.8 |
| Other Assets | 20.01 | 27.38 | 34.86 | 32.59 | 21.33 | 8.03 | 12.84 | 12.98 | 15.1 | 17.65 |
| Total Assets | 22.67 | 32.13 | 38.19 | 35.43 | 27.59 | 17.7 | 17.28 | 17.54 | 17.73 | 19.32 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 5.81 | -2.6 | 0.63 | 2.77 | 12.09 | 3.62 | -3.85 | 0.38 | -2.22 | -0.41 |
| Cash from Investing Activity | -2.3 | -3.06 | 0.3 | -0.07 | -3.96 | -3.96 | 4.98 | -0.39 | 1.99 | 1.31 |
| Cash from Financing Activity | -3.86 | 5.57 | -0.96 | -2.68 | -5.66 | -1.59 | -1.7 | 0 | 0.5 | 0.14 |
| Net Cash Flow | -0.35 | -0.08 | -0.02 | 0.02 | 2.47 | -1.92 | -0.56 | -0.01 | 0.26 | 1.04 |
| Free Cash Flow | 3.51 | -4.7 | -0.02 | 2.71 | 12.09 | 3.62 | -3.87 | 0.36 | -2.33 | -0.48 |
| CFO/OP | 129 | -13 | 15 | 93 | 509 | -69 | -856 | 62 | 163 | -47 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 89.56 | 97.25 | 106.29 | 125.92 | 106.15 | 80.72 | 169.55 | 89.76 | 126.96 | 90.9 |
| Inventory Days | — | — | — | — | — | 0 | — | — | — | — |
| Cash Conversion Cycle | 89.56 | 97.25 | 106.29 | 125.92 | 106.15 | 80.72 | 169.55 | 89.76 | 126.96 | 90.9 |
| Working Capital Days | 69.05 | 121.84 | 110.29 | 128.49 | 130.36 | 78.24 | 176.07 | 113.58 | 140.58 | 127.18 |
| ROCE % | 38.07 | 23.88 | 23.4 | 12.88 | 8.52 | -29.45 | 0.6 | 1.78 | -9.91 | 9.24 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 71.99% | 71.99% | 71.99% | 71.99% | 71.99% | 71.99% | 71.99% | 71.99% | 71.99% | 71.99% | 71.99% | 31.99% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 23.8% | 23.8% | 24.9% | 25.24% | 26.11% | 26.22% | 26.74% | 26.57% | 25.99% | 25.94% | 25.71% | 62.31% |
| Others | 4.21% | 4.21% | 3.11% | 2.76% | 1.9% | 1.79% | 1.27% | 1.44% | 2.02% | 2.07% | 2.3% | 5.7% |
| No. of Shareholders | 206 | 200 | 188 | 187 | 188 | 206 | 220 | 223 | 226 | 222 | 212 | 202 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 11 / 4 / 4

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 199.96 | Sell |
| EMA (10) | 193.36 | Sell |
| SMA (20) | 175.95 | Buy |
| EMA (20) | 174.07 | Buy |
| SMA (50) | 109.58 | Buy |
| EMA (50) | 126.91 | Buy |
| SMA (100) | 69.11 | Buy |
| EMA (100) | 89.92 | Buy |
| SMA (200) | 46.18 | Buy |
| EMA (200) | 62.64 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 70.94 | Sell |
| MACD (12,26,9) | 27.69 | Sell |
| Stochastic (14,3,3) | 72.79 | Neutral |
| ADX (14) | 83.95 | Buy |
| Williams %R (14) | -45.88 | Neutral |
| ATR (14) | 5.21 | Neutral |
| ROC (12) | 10.92 | Buy |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 52.57 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 June 2026 - Open offer for up to 9,72,500 shares at ₹42.35; identified date set as June 10, 2026. | [Updates 9 June 2026 - Open offer for up to 9,72,500 shares at ₹42.35; identified date set as June 10, 2026.](https://nsearchives.nseindia.com/corporate/team_bbodade_09062026182131_ACCORD.pdf) |
| 9 June 2026 - Accord Synergy Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, … | [Disclosure under SEBI Takeover Regulations 9 June 2026 - Accord Synergy Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, …](https://nsearchives.nseindia.com/corporate/team_bbodade_30042026165650_ACCORD.pdf) |
| 9 Feb - Transcript of earning con call held on 3rd February, 2026 for the quarter and half year ended on 31st December, 2026 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript 9 Feb - Transcript of earning con call held on 3rd February, 2026 for the quarter and half year ended on 31st December, 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4d59a4df-58ec-4ee5-a8bb-7c1921d047bf.pdf) |
| 9 April 2026 - Regulation 74(5) confirmation for dematerialisation requests for quarter ended 31 March 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 9 April 2026 - Regulation 74(5) confirmation for dematerialisation requests for quarter ended 31 March 2026.](https://nsearchives.nseindia.com/corporate/ACCORD_09042026154856_certi74_5__310326.pdf) |
| 8 Sep - 12th AGM on September 30, 2026; proposes auditor change, director appointments, capital increase, borrowing, and related-party approvals. | [Updates 8 Sep - 12th AGM on September 30, 2026; proposes auditor change, director appointments, capital increase, borrowing, and related-party approvals.](https://nsearchives.nseindia.com/corporate/ACCORD_08092026171056_Accord_Annual_Report_2026.PDF) |
| 8 Sep - 12th AGM on 30 September 2026 at 11:30 a.m. via VC/OAVM; notice published in newspapers. | [Shareholders meeting 8 Sep - 12th AGM on 30 September 2026 at 11:30 a.m. via VC/OAVM; notice published in newspapers.](https://nsearchives.nseindia.com/corporate/ACCORD_08092026153924_News_Paper_Notice_Intimation2026.pdf) |
| 8 May 2026 - Exchange has sought clarification from Accord Synergy Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On … | [Clarification - Financial Results 8 May 2026 - Exchange has sought clarification from Accord Synergy Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On …](https://www.nseindia.com/companies-listing/corporate-filings-announcements?symbol=ACCORD&tabIndex=sme) |
| 7 Sep - Accord Synergy sent FY26 annual report notice; AGM on 30 September 2026, with remote e-voting dates disclosed. | [Updates 7 Sep - Accord Synergy sent FY26 annual report notice; AGM on 30 September 2026, with remote e-voting dates disclosed.](https://nsearchives.nseindia.com/corporate/ACCORD_07092026204123_Latter_to_Shareholders.pdf) |
| 7 Sep - 12th AGM on 30 Sep 2026 to approve auditor changes, director appointments, 500 Cr borrowing and RPTs. | [Shareholders meeting 7 Sep - 12th AGM on 30 Sep 2026 to approve auditor changes, director appointments, 500 Cr borrowing and RPTs.](https://nsearchives.nseindia.com/corporate/ACCORD_07092026195900_AGM_Notice25-26.pdf) |
| 7 January 2026 - MUFG Intime confirms dematerialisation processing for quarter ended 31 Dec 2025; certificates cancelled and updated. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 7 January 2026 - MUFG Intime confirms dematerialisation processing for quarter ended 31 Dec 2025; certificates cancelled and updated.](https://nsearchives.nseindia.com/corporate/ACCORD_07012026161443_Regulation_74_5__31dec25.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31782_ACCORD_2025_2026_A_1798171_07092026201251.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28258_ACCORD_2024_2025_A_1904601_03092025135344.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25946_ACCORD_2023_2024_06092024124238.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23032_ACCORD_2022_2023_29082023111944_08292023120010.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_20784_ACCORD_2021_2022_23082022120948_08232022130005.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_18921_ACCORD_2020_2021_26082021165724_26082021170006.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_17255_ACCORD_2019_2020_04092020152041_04092020160006.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_15777_ACCORD_2018_2019_05092019122123_05092019140004.zip) |
| from nse | [Annual Report 2018 from nse](https://archives.nseindia.com/annual_reports/SME_AR_14214_ACCORD_2017_2018_10102018153512.zip) |
| from nse | [Annual Report 2017 from nse](https://archives.nseindia.com/annual_reports/SME_AR_12060_ACCORD_2016_2017_06102017164047.zip) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2023 | [Concall - Sep 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d5d4c44a-f96b-46cb-b779-e7832447f1d5.pdf) |
| Sep 2021 | [Concall - Sep 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b7b53245-3c13-4b0c-b5f2-dd709f1ca3db.pdf) |
| Oct 2024 | [Concall - Oct 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5fb707a6-dd93-474b-a385-708e38a4f1dd.pdf) |
| Oct 2022 | [Concall - Oct 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/494a0ff2-79ea-4268-bea8-f4c4e77eb301.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/aa4233f3-89a5-4bfd-ac11-416daabb022d.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a6b88462-1a2a-4a44-8dc4-dc2de7946157.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f461610f-d27f-44e8-8d65-d5e6a631687d.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ae3b8fad-a040-4c42-849c-4c67fa82a3e5.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/90075f1d-9776-4a3a-9764-c269f5c17cc0.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2ec1c0f3-f22a-4117-b6c2-28db9f88a82b.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T20:15:35.604Z.