ADVAIT

Advait Energy Transitions Limited

Power-transmission and renewable-energy EPC contractor

Industrials›Capital Goods›Electrical Equipment›Other Electrical Equipment

advaitgroup.co.in

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Key metrics

Price as of 2026-10-19

Stock price

₹1760.00

Market cap

1,925 Cr

Stock P/E

32.8

P/B

6.92

Dividend yield

0.1%

ROE (FY26)

17.8%

ROCE (FY26)

23.7%

Operating margin (FY26)

11.2%

Debt / equity (FY26)

0.32

OCF / EBITDA (FY26)

-11.6%

OCF / EBITDA (3Y)

15.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Advait (Advait Energy Transitions, formerly Advait Infratech) makes power-transmission products and runs engineering, procurement and construction (EPC) projects for power grids and renewable energy, from Ahmedabad.

Company snapshot

17thBy market cap

Ranked among 32 companies in Other Electrical Equipment.

What we see

Concerns

✗Only 15% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Sept 2023	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	49 Cr	73 Cr	60 Cr	60 Cr	46 Cr	98 Cr	195 Cr	118 Cr	157 Cr	211 Cr	228 Cr	179 Cr
Operating expenses (approx.)	40 Cr	60 Cr	48 Cr	52 Cr	38 Cr	84 Cr	176 Cr	105 Cr	140 Cr	187 Cr	199 Cr	154 Cr
EBITDA	9 Cr	12 Cr	11 Cr	8 Cr	8 Cr	15 Cr	19 Cr	14 Cr	17 Cr	24 Cr	29 Cr	25 Cr
OPM %	18.0%	16.9%	19.2%	13.7%	17.9%	15.1%	9.8%	11.6%	11.0%	11.4%	12.6%	13.8%
Other income	0.39 Cr	0.81 Cr	1 Cr	0.65 Cr	1 Cr	2 Cr	4 Cr	3 Cr	2 Cr	5 Cr	3 Cr	2 Cr
Interest	1 Cr	2 Cr	2 Cr	0.83 Cr	3 Cr	2 Cr	4 Cr	3 Cr	3 Cr	4 Cr	4 Cr	5 Cr
Depreciation	0.62 Cr	0.67 Cr	0.78 Cr	0.85 Cr	0.87 Cr	0.94 Cr	0.82 Cr	0.86 Cr	0.81 Cr	0.91 Cr	0.96 Cr	0.96 Cr
Profit before tax	7 Cr	10 Cr	10 Cr	7 Cr	6 Cr	13 Cr	18 Cr	12 Cr	15 Cr	23 Cr	26 Cr	20 Cr
Tax %	23.3%	25.2%	26.9%	25.3%	27.8%	27.4%	30.1%	26.0%	27.0%	24.2%	26.8%	26.3%
Net profit	5 Cr	8 Cr	7 Cr	5 Cr	4 Cr	10 Cr	13 Cr	9 Cr	11 Cr	17 Cr	19 Cr	15 Cr
EPS (₹)	₹5.39	₹7.55	₹7.08	₹5.25	₹3.83	₹9.23	₹10.68	₹7.73	₹9.74	₹15.19	₹16.15	₹12.70

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	66 Cr	79 Cr	103 Cr	209 Cr	399 Cr	715 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	60 Cr	68 Cr	86 Cr	173 Cr	349 Cr	631 Cr	Sign in free for the trailing twelve months
EBITDA	5 Cr	10 Cr	17 Cr	36 Cr	51 Cr	84 Cr	Sign in free for the trailing twelve months
OPM %	8.0%	13.3%	16.1%	17.3%	12.7%	11.7%	Sign in free for the trailing twelve months
Other income	2 Cr	1 Cr	2 Cr	3 Cr	7 Cr	13 Cr	Sign in free for the trailing twelve months
Interest	1 Cr	1 Cr	3 Cr	7 Cr	10 Cr	15 Cr	Sign in free for the trailing twelve months
Depreciation	2 Cr	2 Cr	4 Cr	3 Cr	3 Cr	4 Cr	Sign in free for the trailing twelve months
Profit before tax	4 Cr	9 Cr	12 Cr	29 Cr	45 Cr	75 Cr	Sign in free for the trailing twelve months
Tax %	-30.1%	39.5%	29.4%	25.7%	28.2%	26.4%	Sign in free for the trailing twelve months
Net profit	5 Cr	5 Cr	8 Cr	22 Cr	32 Cr	55 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹10.77	₹10.43	₹12.67	₹21.45	₹29.06	₹47.43	Sign in free for the trailing twelve months
Dividend payout %	11.8%	9.6%	6.3%	0.0%	4.6%	3.5%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	5 Cr	5 Cr	10 Cr	10 Cr	11 Cr	11 Cr
Reserves	25 Cr	30 Cr	33 Cr	63 Cr	192 Cr	267 Cr
Borrowings	—	—	—	55 Cr	48 Cr	89 Cr
Other liabilities	35 Cr	46 Cr	72 Cr	69 Cr	236 Cr	287 Cr
Total liabilities	65 Cr	81 Cr	115 Cr	199 Cr	492 Cr	667 Cr
Fixed assets (net)	15 Cr	27 Cr	29 Cr	37 Cr	46 Cr	72 Cr
CWIP	—	—	—	1 Cr	2 Cr	59 Cr
Investments	0.77 Cr	0.77 Cr	0.77 Cr	2 Cr	86 Cr	31 Cr
Inventories	6 Cr	7 Cr	13 Cr	20 Cr	16 Cr	59 Cr
Trade receivables	15 Cr	29 Cr	47 Cr	43 Cr	189 Cr	148 Cr
Cash & bank	14 Cr	10 Cr	0.02 Cr	7 Cr	3 Cr	25 Cr
Other assets	15 Cr	6 Cr	25 Cr	89 Cr	150 Cr	273 Cr
Total assets	65 Cr	81 Cr	115 Cr	199 Cr	492 Cr	667 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	-0.42 Cr	12 Cr	12 Cr	-10 Cr	46 Cr	-10 Cr
Cash from investing	0.84 Cr	-14 Cr	-6 Cr	-8 Cr	-94 Cr	-33 Cr
Cash from financing	5 Cr	-2 Cr	2 Cr	44 Cr	100 Cr	69 Cr
Net cash flow	6 Cr	-4 Cr	8 Cr	25 Cr	52 Cr	25 Cr
Free cash flow (OCF − Capex)	-0.42 Cr	12 Cr	6 Cr	-20 Cr	32 Cr	-122 Cr

Ratios

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROCE %	16.8%	28.3%	33.0%	27.9%	21.3%	23.7%
ROE %	15.8%	15.1%	19.0%	29.2%	14.9%	17.8%
Debtor days	83	135	166	75	173	75
Inventory days	48	51	65	54	30	49
Days payable	—	—	—	132	325	175
Cash conversion cycle	131	186	231	-2	-122	-50
OCF / EBITDA %	-7.9%	110.9%	73.1%	-28.8%	91.9%	-11.6%
OCF / EBITDA % (3 years)	—	—	72.1%	21.0%	46.6%	15.5%
Debt / equity	0.00	0.00	0.0022	0.75	0.24	0.32
Current ratio	1.71	1.41	1.40	1.29	1.72	1.32
Net debt / EBITDA	-2.68	-1.00	-0.0011	1.33	0.90	0.77