Affle 3i Ltd logo

Affle 3i Ltd

AFFLE NSE

Key Fundamentals

SmallcapIT Enabled ServicesInformation Technology
Market Cap
₹23,926 Cr
Volatility
Moderate
P/E Ratio
50.43
EBITDA
₹610 Cr
Return on Equity
12.96%
Debt to Equity
0
Book Value
₹259.25
EPS
₹22.65
52W High
₹2,185.9
52W Low
₹1,251.3

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 27.5% CAGR over last 5 years

Weaknesses

3
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last 3 years: -4.98%
  • Working capital days have increased from 42.1 days to 82.3 days

Growth Rate

Revenue Growth
14.80% ↗
Net Income Growth
18.85% ↗
Cash Flow Change
62.42% ↗
ROE
8.91% ↗
ROCE
22.54% ↗
EBITDA Margin (Avg.)
-10.47% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk high

Affle India Ltd trades at a market cap of ₹23,552 Cr with a PE of 49.3x, reflecting premium valuation for a company delivering 20% TTM sales growth and 19% TTM profit growth. The company is virtually debt-free but pays no dividend, and its ROE stands at 14% while working capital days have nearly doubled from 42 to 82 days.

Bull Case 8
  • Strong 5-year compounded sales CAGR of 39%, indicating consistent top-line momentum in the digital advertising space
  • Compounded profit growth of 28% CAGR over 5 years demonstrates scalable business model with improving profitability
  • Company is almost debt-free, providing financial flexibility and low balance sheet risk with a price-to-book of 6.45x
  • TTM revenue growth of 20% shows continued healthy demand even as the base has scaled significantly over 5 years
  • TTM profit growth of 19% tracking close to revenue growth, suggesting operating leverage is being maintained
  • 3-year compounded sales CAGR of 24% and profit CAGR of 23% indicate sustained growth beyond one-off periods
  • Company has actively reduced debt, strengthening its balance sheet position for future acquisitions or organic investments
  • 5-year stock CAGR of 15% reflects market recognition of the company's structural growth trajectory
Bear Case 8
  • PE ratio of 49.3x is significantly above market averages, leaving limited margin of safety if growth decelerates
  • Working capital days have nearly doubled from 42.1 to 82.3 days, signaling potential cash conversion cycle deterioration
  • Zero dividend yield despite repeated profitability suggests shareholders depend entirely on capital appreciation for returns
  • Promoter holding has declined by 4.98% over the last 3 years, raising questions about insider confidence
  • 1-year stock return of -16% indicates market de-rating despite continued earnings growth, suggesting valuation correction underway
  • ROE of 14% is modest relative to the 49.3x PE multiple, implying investors are paying a steep premium per unit of return on equity
  • 5-year ROE averaging 16% has not expanded meaningfully, with last year at 14%, showing limited profitability improvement at the equity level
  • Price-to-book of 6.45x combined with 14% ROE implies the stock is priced for significantly higher future returns than currently delivered

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 17h ago
Positives 3
  • Q1 profit up 37% YoY Aug 8

    Consolidated net profit rose 37% YoY to ₹1,284.39 million in Q1FY27, with revenue growing to ₹7,471.64 million.

  • 10x growth via M&A strategy Aug 10

    Affle reaffirmed a minimum 20% growth target through organic expansion and strategic acquisitions, outlining a 10x growth ambition via M&A while sustaining margin expansion.

  • Developed Markets expansion Aug 17

    Company expanded presence in Developed Markets through organic growth and strategic acquisitions like AdColony assets, with EBITDA margins steady at 22.4%.

Neutral 1
  • Q1FY27 earnings call scheduled Aug 5

    Affle scheduled an earnings conference call for August 10, 2026 at 10:00 AM IST to discuss Q1FY27 results under SEBI Regulation 30.

TL;DR: Affle delivered strong Q1FY27 results with 37% profit growth and 20.4% revenue growth while maintaining stable EBITDA margins at 22.4%. The company's aggressive M&A-led 10x growth strategy and expansion into Developed Markets signal confidence. No visible headwinds emerged this period. The trend is clearly improving with sustained organic momentum and acquisition-driven optionality ahead.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
407
431
499
506
520
543
602
602
621
647
717
724
747
Expenses
328
344
402
408
415
430
470
468
481
501
554
563
580
Operating Profit
78
87
97
98
104
113
131
134
140
146
163
161
168
OPM %
19%
20%
19%
19%
20%
21%
22%
22%
23%
23%
23%
22%
22%
Other Income
10
10
10
27
25
29
21
19
17
22
18
21
25
Interest
3
6
5
5
4
4
3
2
2
1
1
1
1
Depreciation
14
18
18
20
19
25
26
27
26
32
33
33
34
PBT
70
73
83
100
107
113
124
124
129
135
146
148
158
Tax %
6%
9%
8%
13%
19%
19%
19%
17%
18%
18%
18%
19%
19%
Net Profit
66
67
77
87
87
92
100
103
106
111
119
120
128
EPS in Rs
4.97
5.01
5.48
6.24
6.18
6.56
7.13
7.34
7.5
7.86
8.48
8.49
9.12
Figures in ₹ Crores

Profit & Loss

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
167
249
334
517
1,082
1,434
1,843
2,266
2,709
2,836
Expenses
122
179
246
387
869
1,146
1,483
1,783
2,099
2,198
Operating Profit
46
70
88
130
213
288
360
483
610
638
OPM %
27%
28%
26%
25%
20%
20%
20%
21%
23%
22%
Other Income
0
0
6
42
72
54
57
94
78
86
Interest
1
1
1
4
7
11
19
13
5
4
Depreciation
8
10
13
20
32
49
72
97
124
133
PBT
37
60
79
148
245
282
327
468
559
587
Tax %
24%
18%
17%
9%
12%
13%
9%
18%
19%
—
Net Profit
28
49
66
135
215
245
297
382
455
478
EPS in Rs
2.29
4.02
5.14
10.57
16.05
18.36
21.2
27.18
32.31
33.95
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
24
24
26
26
27
27
28
28
28
Reserves
6
48
204
333
1,151
1,438
2,470
2,918
3,624
Borrowings
0
9
68
119
149
106
183
82
15
Other Liabilities
46
77
105
275
497
437
592
583
754
Total Liabilities
76
158
402
753
1,824
2,008
3,273
3,612
4,421
Fixed Assets
27
57
163
361
699
786
1,144
1,221
1,525
CWIP
0
2
5
40
42
49
98
111
0
Investments
0
0
0
76
135
0
37
63
114
Other Assets
49
99
234
276
948
1,174
1,993
2,216
2,783
Total Assets
76
158
402
753
1,824
2,008
3,273
3,612
4,421
Figures in ₹ Crores

Cash Flow

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
42
48
72
102
206
260
262
426
502
Investing
-29
-50
-162
-175
-554
-186
-572
-92
-374
Financing
-4
8
139
53
615
-59
783
-92
-43
Net Cash Flow
9
6
49
-20
267
16
473
242
85
Free Cash Flow
33
33
41
52
133
168
147
266
291
CFO/OP
108
80
94
87
110
104
82
104
100
Figures in ₹ Crores

Ratios

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
36
70
81
76
79
62
63
48
52
Cash Conversion Cycle
36
70
81
76
79
62
63
48
52
Working Capital Days
-35
-13
-26
-4
-31
29
19
25
82
ROCE %
—
108%
43%
39%
28%
20%
16%
17%
17%

Shareholding Pattern

As of Jun 2026
Promoters 54.91%
DIIs 18.78%
FIIs 15.38%
Public 7.49%
Others 3.45%
Total 100.01%
  Mar 2021May 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Nov 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
62.60%
59.89%
59.89%
59.89%
59.89%
59.89%
59.89%
59.89%
59.89%
59.89%
59.89%
59.89%
56.93%
56.93%
56.92%
55.14%
55.09%
55.03%
55.02%
55.00%
54.97%
54.95%
54.92%
54.91%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.02%
0.00%
0.00%
0.00%
0.00%
14.79%
15.30%
15.55%
16.50%
16.09%
18.41%
19.01%
17.79%
16.66%
15.38%
DIIs
5.85%
6.13%
5.68%
5.32%
5.52%
4.59%
4.88%
8.21%
10.55%
11.95%
13.37%
14.27%
13.93%
14.51%
14.72%
16.20%
15.59%
14.58%
15.31%
13.81%
14.67%
16.36%
17.90%
18.78%
Government
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%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
6.95%
6.83%
8.85%
11.47%
12.34%
12.98%
12.79%
11.79%
12.00%
11.96%
11.91%
11.72%
10.84%
10.00%
9.67%
9.30%
9.65%
9.76%
9.50%
8.96%
7.77%
7.47%
7.07%
7.49%
Others
24.60%
27.15%
25.58%
23.32%
22.24%
22.54%
22.44%
20.11%
17.55%
16.18%
14.83%
14.12%
18.30%
18.55%
3.91%
4.07%
4.12%
4.13%
4.07%
3.82%
3.57%
3.44%
3.44%
3.45%
No. of Shareholders
88,416
92,209
1,42,174
1,95,095
3,09,967
3,66,185
3,79,806
3,63,209
3,65,603
3,64,615
3,61,200
3,52,826
3,43,846
3,22,499
3,08,470
2,89,362
2,83,423
2,75,241
2,76,042
2,61,724
2,52,674
2,47,224
2,40,775
2,43,769

Documents

Frequently Asked Questions about Affle 3i Ltd

What does Affle 3i Ltd do?
Incorporated in 1994, Affle is a global technology company with a proprietary consumer intelligence platform that transforms ads into recommendations helping marketers to effectively identify, engage, acquire and drive transactions with their potential and existing users[1]
Where is Affle 3i Ltd (AFFLE) listed?
Affle 3i Ltd is listed on the Indian stock exchanges. It is listed on NSE: AFFLE and BSE: 542752. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Affle 3i Ltd belong to?
Affle 3i Ltd operates in the Information Technology sector within the IT Enabled Services industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Affle 3i Ltd?
Affle 3i Ltd has a market capitalisation of approximately ₹23925.53 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Affle 3i Ltd?
The Price-to-Earnings (PE) ratio of Affle 3i Ltd is 50.43. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Affle 3i Ltd?
Over the past 52 weeks, Affle 3i Ltd has traded between a low of ₹1,251.3 and a high of ₹2,185.9. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Affle 3i Ltd?
Affle 3i Ltd has a Return on Equity (ROE) of 12.96%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Affle 3i Ltd on Tapetide?
On Tapetide, you can view Affle 3i Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Incorporated in 1994, Affle is a global technology company with a proprietary consumer intelligence platform that transforms ads into recommendations helping marketers to effectively identify, engage, acquire and drive transactions with their potential and existing users[1]

Website affle.com
CEO Mr. Anuj Khanna Sohum
Employees 617
Listed 2019-08-08
Face Value ₹ 2
Issued Size 14,06,95,134

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