Sigma Advanced System Ltd
SIGMAADV NSE
Sigma Advanced System Ltd
TelecomNSE: SIGMAADV BSE: 532408 Telecom Services
Key Fundamentals
MicrocapTelecom ServicesTelecomMarket Cap
₹11,605 Cr
Volatility
Moderate
P/E Ratio
72.52
EBITDA
₹37.38 Cr
Return on Equity
5.88%
Debt to Equity
0.71
Book Value
₹48.21
52W High
₹721.5
52W Low
₹109.45
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Sigma Advanced System Ltd insights
36 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company has delivered good profit growth of 172% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 35.8%
Weaknesses
4- Stock is trading at 23.6 times its book value
- Promoter holding has decreased over last quarter: -4.98%
- Earnings include an other income of Rs.101 Cr.
- Company has high debtors of 270 days.
Growth Rate
Revenue Growth
1082.40% ↗
Net Income Growth
3067.98% ↗
Cash Flow Change
63.36% ↗
ROE
40.00% ↗
ROCE
21.10% ↗
EBITDA Margin (Avg.)
-93.66% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 11d agoAI opinion · based on fundamentals
Risk high
Sigma Advanced System Ltd is a micro-to-small cap telecom company with a market cap of Rs.12,513 Cr that has delivered explosive profit growth of 1026% TTM and 172% CAGR over 5 years, but trades at elevated valuations of 49.2x PE and 14.39x book value with concerns around earnings quality and debtor days.
Bull Case 7
- Exceptional profit growth with compounded profit CAGR of 172% over 5 years and 228% over 3 years, indicating strong business momentum
- Last year ROE of 91% demonstrates highly efficient capital utilization, well above typical industry benchmarks
- 3-year ROE of 36% and 5-year ROE of 24% show sustained profitability is not a one-off event
- TTM profit growth of 1026% signals a potential inflection point in the company's earnings trajectory
- Stock price CAGR of 484% over 1 year and 161% over 3 years reflects strong market recognition of growth
- Compounded sales growth of 530% over 3 years suggests rapid revenue scale-up in the telecom sector
- 5-year stock CAGR of 115% and 10-year CAGR of 49% indicate long-term wealth creation track record
Bear Case 8
- Stock trades at 26.5x book value (P/B of 14.39 per metrics), indicating extreme premium to asset base with limited margin of safety
- Earnings include other income of Rs.285 Cr, raising concerns about sustainability and quality of core operating profits
- Debtor days of 270 days suggest severe working capital stress and potential collection risk on receivables
- Promoter holding decreased by 4.98% in the last quarter, signaling potential lack of confidence from insiders
- PE ratio of 49.2x implies the stock is priced for perfection with little room for execution missteps
- Zero dividend yield indicates no cash return to shareholders despite reported profitability
- 10-year sales CAGR of only 23% contrasts sharply with recent 530% 3-year growth, suggesting recent growth may not be structurally sustainable
- Key financial ratios like debt-to-equity, EPS, and ROCE are unavailable, limiting fundamental analysis and transparency
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 7d ago Positives 2
- $104.9M export artillery order Jul 27
Sigma Advanced Systems secured a USD 104.9 million export order for 155mm base bleed artillery shells from a North American customer, significantly boosting its global defence footprint and order book.
- UK aerospace acquisition completed Jul 22
Sigma completed 100% acquisition of Bromford Precision Solutions Limited for GBP 11.89 million, expanding its aerospace manufacturing presence into the UK market.
TL;DR: Sigma Advanced Systems is on a strong growth trajectory with a major $104.9M defence export order and a strategic UK acquisition completed in July. The company is diversifying both geographically and across defence/aerospace segments. No visible headwinds in recent news flow. The trend is clearly improving with expanding international order book and inorganic growth moves, though execution on the new acquisition and large export order delivery will be key to watch.
Quarterly Results
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 19 | 57 | 0 | 18 | 146 | 323 | 374 |
| Expenses | 3 | 2 | 2 | 1 | 2 | 2 | 19 | 40 | 16 | 17 | 139 | 268 | 313 |
| Operating Profit | -3 | -2 | -2 | -1 | -2 | -2 | 0 | 16 | -16 | 1 | 7 | 55 | 61 |
| OPM % | — | — | — | — | — | — | -2.2% | 29% | — | 6% | 4.6% | 17% | 16% |
| Other Income | 11 | 11 | 8 | 8 | 8 | 9 | 13 | 13 | 187 | 4 | 5 | 89 | 3 |
| Interest | 4 | 4 | 4 | 5 | 4 | 4 | 5 | 5 | 3 | 0 | 5 | 11 | 8 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 6 | 7 | 8 |
| PBT | 4 | 4 | 0 | 0 | 1 | 1 | 6 | 23 | 167 | 3 | 0 | 127 | 49 |
| Tax % | 14% | 2% | 0% | 0% | 0% | 0% | 22% | 22% | 19% | 0% | 550% | 1% | 22% |
| Net Profit | 3 | -3 | -5 | -8 | -17 | -14 | 7 | 9 | 136 | 4 | -1 | 128 | 35 |
| EPS in Rs | 0.47 | -0.44 | -0.65 | -1.1 | -2.27 | -1.93 | 0.99 | 1.17 | 18.47 | 0.57 | -0.14 | 7.29 | 1.36 |
Profit & Loss
| Mar 2015 15m | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 98 | 63 | 67 | 66 | 62 | 57 | 59 | 52 | 2 | 0 | 0 | 492 | 861 |
| Expenses | 73 | 47 | 62 | 57 | 60 | 51 | 55 | 71 | 20 | 9 | 10 | 444 | 737 |
| Operating Profit | 25 | 16 | 6 | 10 | 2 | 5 | 4 | -18 | -18 | -9 | -10 | 48 | 124 |
| OPM % | 25% | 25% | 8% | 14% | 3.2% | 9% | 7% | -35% | -898% | — | 14% | 10% | 14% |
| Other Income | 1 | 1 | 8 | 1 | 9 | 6 | 7 | 30 | 43 | 37 | 42 | 285 | 101 |
| Interest | 12 | 8 | 6 | 5 | 6 | 7 | 5 | 3 | 11 | 17 | 18 | 20 | 24 |
| Depreciation | 14 | 7 | 5 | 4 | 4 | 4 | 4 | 4 | 3 | 3 | 4 | 14 | 21 |
| PBT | 0 | 2 | 2 | 1 | 1 | 1 | 2 | 5 | 11 | 8 | 8 | 299 | 180 |
| Tax % | -208% | 26% | -24% | -55% | 53% | -6% | 0% | 12% | 0% | 8% | 0% | 11% | — |
| Net Profit | 1 | 1 | 3 | 2 | 0 | 1 | 2 | 5 | 9 | -13 | -30 | 268 | 167 |
| EPS in Rs | 0.1 | 0.18 | 0.37 | 0.23 | 0.04 | 0.1 | 0.25 | 0.63 | 1.2 | -1.73 | -4.06 | 15.21 | 9.08 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 74 | 74 | 74 | 74 | 176 |
| Reserves | 126 | 84 | 87 | 91 | 93 | 96 | 97 | 111 | 120 | 107 | 70 | 292 |
| Borrowings | 94 | 98 | 46 | 47 | 41 | 40 | 34 | 29 | 146 | 147 | 139 | 332 |
| Other Liabilities | 49 | 56 | 96 | 114 | 144 | 151 | 141 | 73 | 38 | 38 | 82 | 259 |
| Total Liabilities | 312 | 282 | 273 | 297 | 322 | 331 | 317 | 286 | 377 | 366 | 364 | 1,059 |
| Fixed Assets | 193 | 194 | 187 | 141 | 208 | 243 | 248 | 204 | 179 | 187 | 200 | 325 |
| CWIP | 0 | 0 | 0 | 58 | 31 | 0 | 0 | 0 | 0 | 0 | 0 | 9 |
| Investments | 12 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 133 | 112 | 67 | 10 |
| Other Assets | 108 | 88 | 86 | 98 | 83 | 89 | 69 | 82 | 65 | 66 | 97 | 714 |
| Total Assets | 312 | 282 | 273 | 297 | 322 | 331 | 317 | 286 | 377 | 366 | 364 | 1,059 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -14 | 16 | 45 | 16 | 51 | 17 | 20 | 16 | 15 | 22 | 37 | -225 |
| Investing | -1 | -12 | 9 | -12 | -38 | -6 | -3 | -10 | -133 | 10 | -19 | -6 |
| Financing | 9 | -3 | -58 | -4 | -11 | -8 | -16 | 22 | 85 | -17 | -26 | 242 |
| Net Cash Flow | -6 | 1 | -4 | 0 | 2 | 3 | 1 | 28 | -33 | 15 | -8 | 11 |
| Free Cash Flow | -16 | 2 | 54 | 4 | 13 | 11 | 17 | 15 | 32 | 11 | 19 | 108 |
| CFO/OP | -59 | 107 | 809 | 170 | 2,622 | 323 | 483 | -93 | -106 | -252 | -352 | -444 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 326 | 377 | 343 | 411 | 345 | 382 | 191 | 158 | 0 | — | — | 270 |
| Inventory Days | — | — | — | — | — | — | — | — | — | — | — | 382 |
| Days Payable | — | — | — | — | — | — | — | — | — | — | — | 381 |
| Cash Conversion Cycle | 326 | 377 | 343 | 411 | 345 | 382 | 191 | 158 | 0 | — | — | 271 |
| Working Capital Days | -138 | -401 | -259 | -310 | -555 | -611 | -581 | -72 | 4,960 | — | — | 123 |
| ROCE % | 4% | 4% | 0% | 3% | 4% | 4% | 4% | 2% | 8% | 8% | 9% | 61% |
Documents
1
Clarification On Increase In Volume / Price.
4 May - Sigma Advanced Systems says recent price and volume increase is market-driven. 4 May - Sigma Advanced Systems says recent price and volume increase is market-driven.
2
Action Taken Report Under The Special Window For Transfer And Dematerialisation Of Physical Securities
4 May - Special window for physical share transfer/demat open Feb 5, 2026-Feb 4, 2027; no requests till Apr 30. 4 May - Special window for physical share transfer/demat open Feb 5, 2026-Feb 4, 2027; no requests till Apr 30.
3
Declaration With Regard To SEBI Circular No. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 Dated October 19, 2023 On Large Corporate
29 Apr - Sigma Advanced Systems says it is not a Large Corporate as of March 31, 2026. 29 Apr - Sigma Advanced Systems says it is not a Large Corporate as of March 31, 2026.
4
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
29 Apr - Sigma Advanced Systems says it is not a Large Corporate as of March 31, 2026. 29 Apr - Sigma Advanced Systems says it is not a Large Corporate as of March 31, 2026.
5
Clarification sought from Sigma Advanced Systems Ltd
4 May - Exchange has sought clarification from Sigma Advanced Systems Ltd on May 04, 2026, with reference to Movement in Volume. 4 May - Exchange has sought clarification from Sigma Advanced Systems Ltd on May 04, 2026, with reference to Movement in Volume.
Frequently Asked Questions about Sigma Advanced System Ltd
What does Sigma Advanced System Ltd do?
Incorporated in 1999, Sigma Advanced Systems is a Hyderabad-based aerospace and defense manufacturing company[1]
Where is Sigma Advanced System Ltd (SIGMAADV) listed?
Sigma Advanced System Ltd is listed on the Indian stock exchanges. It is listed on NSE: SIGMAADV and BSE: 532408. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Sigma Advanced System Ltd belong to?
Sigma Advanced System Ltd operates in the Telecom sector within the Telecom Services industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Sigma Advanced System Ltd?
Sigma Advanced System Ltd has a market capitalisation of approximately ₹11604.50 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Sigma Advanced System Ltd?
The Price-to-Earnings (PE) ratio of Sigma Advanced System Ltd is 72.52. 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 Sigma Advanced System Ltd?
Over the past 52 weeks, Sigma Advanced System Ltd has traded between a low of ₹109.45 and a high of ₹721.5. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Sigma Advanced System Ltd?
Sigma Advanced System Ltd has a Return on Equity (ROE) of 5.88%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Sigma Advanced System Ltd on Tapetide?
On Tapetide, you can view Sigma Advanced System 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 1999, Sigma Advanced Systems is a Hyderabad-based aerospace and defense manufacturing company[1]
Website sigmaadvsys.com
CEO Mr. Sunil Kumar Kalidindi
Listed 2007-07-19
Face Value ₹ 10
Issued Size 7,37,70,041