Affle 3i logo

Affle 3i

AFFLE NSE

Key Fundamentals

SmallcapIT Enabled ServicesInformation Technology
Market Cap
₹20,894 Cr
Volatility
Moderate
P/E Ratio
42.7
EBITDA
₹688 Cr
Return on Equity
12.45%
Debt to Equity
0
Book Value
₹260.7
EPS
₹22.65
52W High
₹1,994.3
52W Low
₹1,251.3

Tapetide Score

Data-driven rating, 0–100. How it works →

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
18.11% lower than 3Y
Net Income Growth
19.11% lower than 3Y
Cash Flow Change
17.93% lower than 3Y
ROE
-3.94% lower than 3Y
ROCE
-4.61% lower than 3Y
EBITDA Margin (Avg.)
0.98% lower than 3Y

AI Analysis — Bull vs Bear

6d ago
AI opinion · based on fundamentals
Risk medium

Affle 3i Ltd is a consumer-intelligence-driven mobile advertising company with a market capitalisation of about ₹22,094 crore. It trades at a P/E of 46.8x and a P/B of 6.09x. Over five years it has grown sales at a 39% CAGR and profits at a 28% CAGR, and TTM growth is running at 20% for sales and 19% for profit. Return on equity has held at 14-16%, the stock has returned -21% over the past year, and working capital days have risen from 42.1 to 82.3.

Bull Case 7
  • Sales have compounded at 39% annually over 5 years and 24% over 3 years, which shows sustained scaling in the digital advertising business.
  • Profit has compounded at 28% over 5 years (27.5% per the reported pros), 23% over 3 years and 19% on a TTM basis, so earnings have grown consistently across multiple periods.
  • The company is almost debt-free and has reduced its debt, which gives it balance-sheet flexibility for acquisitions and platform investment without leverage risk.
  • TTM sales growth of 20% and profit growth of 19% are close to each other, which suggests operating margins are broadly holding as the business scales.
  • Following the -21% one-year share price return, the P/E of 46.8x sits closer to the company's recent profit growth rates of 19-28% than it would have at earlier, higher prices.
  • ROE has stayed in a relatively stable 14-16% band across the 5-year, 3-year and last-year periods even as the equity base expanded, which points to steady returns during a high-growth phase.
  • Over 3 years the stock has compounded at 13% annually, so long-term holders have still seen positive returns despite the recent drawdown.
Bear Case 7
  • At a P/E of 46.8x and a P/B of 6.09x, the valuation is demanding relative to an ROE of only about 14%, which leaves limited room for any growth disappointment.
  • Working capital days have nearly doubled from 42.1 to 82.3. This points to slower receivable collection and a larger share of profits tied up in working capital rather than converted to cash.
  • Promoter holding has fallen by 4.98% over the last 3 years, which some investors may read as reduced alignment or ongoing stake monetisation.
  • ROE has slipped from a 5-year average of 16% to 14% over the last year and the 3-year period, which suggests capital efficiency is weakening as the company grows.
  • Growth is decelerating: sales CAGR has dropped from 39% (5 years) to 24% (3 years) and 20% (TTM), and profit growth has moved from 28% to 23% to 19% over the same periods.
  • The stock has returned -21% over the past year and only 8% CAGR over 5 years, which lags its 28% profit CAGR over the same period and points to de-rating of the valuation multiple.
  • Dividend yield is 0% despite consistent profitability, so shareholders receive no cash return and rely entirely on capital appreciation.

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

AI News Digest

1d ago
Neutral 5
  • Trading window closed for Q2FY27 Sep 30

    Affle 3i closed its trading window from October 1, 2026, until 48 hours after it declares Q2FY27 results. This is a routine insider-trading restriction and points to results coming in the next few weeks.

  • All AGM resolutions approved Sep 22

    At the 31st AGM on September 22, 2026, shareholders approved the FY26 financial statements, a director's reappointment and changes to the Articles of Association. No dissent or contested items were reported.

  • Multi-fund investor meetings Sep 18 Sep 18

    Affle 3i held one-on-one meetings with Greenback Capital, ASAS Capital, Wealthbrix and ENAM AMC on September 18, 2026. The company confirmed it shared no unpublished price-sensitive information.

  • Meetings with five funds Sep 2 Sep 2

    On September 2, 2026, the company disclosed meetings with five mutual funds and wealth managers. It confirmed it shared no unpublished price-sensitive information.

  • Steady one-on-one analyst calls Sep 21

    Affle 3i held one-on-one calls with Edelweiss Mutual Fund (Sep 3), Arika Capital (Sep 9), IIFL Capital PMS (Sep 11) and Astrone Capital (Sep 21), disclosed under SEBI LODR Regulation 30. No unpublished price-sensitive information was shared.

TL;DR: All news in this period is routine compliance and investor-relations activity, with no fundamental positives or negatives. The company met at least 14 investors across about 7 sessions in September 2026, which shows ongoing institutional interest. The AGM passed without issues, so there are no visible governance concerns. The Q2FY27 results after the trading window closed on October 1 are the next real test of the trend, especially growth and margins.

Quarterly Results

Particulars 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

Particulars 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

Particulars 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
744
Total Liabilities
76
158
402
753
1,824
2,008
3,273
3,612
4,411
Fixed Assets
27
57
163
361
699
786
1,144
1,221
1,394
CWIP
0
2
5
40
42
49
98
111
131
Investments
0
0
0
76
135
0
37
63
114
Other Assets
49
99
234
276
948
1,174
1,993
2,216
2,773
Total Assets
76
158
402
753
1,824
2,008
3,273
3,612
4,411
Figures in ₹ Crores

Cash Flow

Particulars 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
-299
Financing
-4
8
139
53
615
-59
783
-92
-43
Net Cash Flow
9
6
49
-20
267
16
473
242
160
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

Particulars 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%

Insights

Beta

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

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Shareholding Pattern

Others3.45%Promot.54.91%Public7.49%FIIs15.38%DIIs18.78%As ofJun 2026

Documents

Frequently Asked Questions about Affle 3i

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 trades as AFFLE on the NSE and under code 542752 on the BSE.
Which sector does Affle 3i Ltd belong to?
Affle 3i Ltd is classified under the Information Technology sector, in the IT Enabled Services industry.
What is the market capitalisation of Affle 3i Ltd?
Affle 3i Ltd has a market capitalisation of ₹20,894 Cr, which places it in the Large Cap band.
What is the PE ratio of Affle 3i Ltd?
Affle 3i Ltd trades at a PE ratio of 42.70, on earnings per share of ₹22.65, against a book value of ₹260.7 per share.
What is the 52-week high and low of Affle 3i Ltd?
Over the last 52 weeks Affle 3i Ltd has traded between ₹1,251.3 and ₹1,994.3.
What is the Return on Equity (ROE) of Affle 3i Ltd?
Affle 3i Ltd reported a return on equity of 12.45%. Its debt-to-equity ratio is 0.00.

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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