Aditya Infotech Ltd (CPPLUS) — share price & stock analysis

Market cap

₹42,100 Cr

P/E

114×

ROE

25.4%

Book value / share

₹159

Revenue (FY26)

₹4,221 Cr

Profit after tax (FY26)

₹368 Cr

Weinstein stage

Stage 2 (46 weeks)

Data as of

1 July 2026

4 of the 5 things we track are currently moving the right way — nearly everything is pulling in the same direction.

Where the levels actually stand: ROCE 30% — a high-quality engine; effectively no debt; margins at an all-time high. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double, and a quarter of the score comes from our earnings-recovery lens (is the profit cycle turning up off its trough?).

Stage 2: the trend is up, and has been for 46 weeks

Price trends have a life cycle: they base (1), advance (2), top out (3) and decline (4). This chart is in Stage 2: advancing — 46 weeks so far, confirmed.stage

The price sits above its rising 200-day average (₹2,062 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

Profits have grown in 6 of the last 6 years — compounding so far, on a short record

Over 6 years, sales went from ₹1,238 Cr to ₹4,221 Cr (about 23% a year), and profit from ₹17.0 Cr to ₹368 Cr.revenuenet_profit

Margins widened 8.8 points along the way — growth with improving economics.operating_profit

Sales exploded 46% last quarter — the 4th straight quarter of growth

Mar 26 sales were ₹1,422 Cr, up 46% on the same quarter last year.revenue

That makes 4 quarters of growth in a row — this is a trend, not a blip.revenue

Margins are widening — 10% → 18% in a year

Of every ₹100 of sales, the company keeps ₹18.1 as operating profit (a year ago it kept ₹10.0).opm_pct

Zoom out and this is the page's quiet hero: annual operating margin bottomed at 4.9% in FY21 and has been rebuilt to 13.4% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit

The gross margin moved the same way (22% → 32%), so this is about input costs and pricing power — the raw-material equation improved.gpm_pctopm_pct

Profit exploded 207% — mostly from keeping more of each sale

Mar 26 profit after tax was ₹169 Cr, up 207% year on year.net_profit

Profits on paper, cash lagging behind

Over the last 5 profitable years, the business reported ₹1,039 Cr of profit and collected ₹−40.0 Cr of operating cash — about -4% conversion.operating_cash_flownet_profit

The wrinkle is the latest year: FY26 collected ₹13.0 Cr against ₹368 Cr of reported profit — about 4%. One year isn’t a trend, but it is the line to watch.operating_cash_flownet_profit

The cash cycle is stretching — more money stuck in the pipeline

One rupee now takes about 61 days to go out the door as materials and come back as collected cash — up from 51 days the year before.cash_conversion_cycle

The biggest mover: inventory sitting longer in the warehouse (118 → 134 days).inventory_days

The asset base keeps compounding — this company builds

The productive asset base has gone from ₹66.0 Cr (FY20) to ₹826 Cr, with another ₹71.0 Cr of capacity under construction right now.fixed_assetscwip

The build is bigger than the cash engine: investing outflows (₹−63.0 Cr) exceeded operating cash (₹−140 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow

Almost no debt — this company cannot be killed by a bad year

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹10 — total borrowings have shrunk from ₹269 Cr to ₹180 Cr over the window.borrowings

Every ₹100 kept in the business now earns ₹30 — and the number is rising

Return on capital employed is 30.0% (a year ago: 19.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct

Rising returns on capital while growing is the rarest combination in investing — it means the new projects earn more than the old ones.roce_pct

Strong on the data — worth the deeper look if the story keeps its promises

The numbers lean positive, and the price is roughly fair to the delivery so far.

Best thing in the data: profit rising (₹55.0 Cr → ₹169 Cr).net_profit

Biggest worry: free cash flow falling (₹115 Cr → ₹−128 Cr).operating_cash_flow

One dissent worth hearing: our valuation lens reads negative — “its fair-value math says the price sits about 63% above what the numbers justify”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data