ASMS

Avio Smart Market Stack Limited

Diversified platform company in financial services, agri supply chain and diagnostics

Information Technology›Information Technology›IT - Services›IT Enabled Services

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Key metrics

Price as of 2026-10-16

Stock price
₹5.87
Market cap
179 Cr
Stock P/E
30.1 · FY26
P/B
5.23
ROE (FY26)
17.4%
ROCE (FY26)
15.8%
Operating margin (FY26)
4.5%
Debt / equity (FY26)
0.26
OCF / EBITDA (FY26)
28.5%

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

Avio Smart Market Stack Limited (ASMS) runs a rural-India network that delivers banking services through partner banks in about 5,000 villages, and is building agricultural trade and molecular-diagnostics businesses on top of that network.

Company snapshot

45thBy market cap

Ranked among 56 companies in IT Enabled Services.

What we see

Positives
  • ✓Debt-to-equity of 0.26x — the company is largely funded by its own money, not borrowed funds.
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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

MetricDec 2020Mar 2021Jun 2021Sept 2021Dec 2021Mar 2022Jun 2022Sept 2022Dec 2022Mar 2023Mar 2026Jun 2026
Sales15 Cr18 Cr15 Cr16 Cr16 Cr18 Cr15 Cr14 Cr11 Cr12 Cr34 Cr12 Cr
Operating expenses (approx.)14 Cr16 Cr14 Cr15 Cr15 Cr16 Cr14 Cr13 Cr12 Cr12 Cr32 Cr11 Cr
EBITDA1 Cr2 Cr0.83 Cr1 Cr2 Cr2 Cr1 Cr0.95 Cr-0.18 Cr-0.14 Cr2 Cr0.71 Cr
OPM %8.7%10.5%5.6%9.2%9.3%9.9%8.6%6.9%-1.6%-1.2%6.7%5.9%
Other income0.0065 Cr0.23 Cr0.02 Cr0.01 Cr0.05 Cr0.04 Cr0.0011 Cr0.13 Cr0.07 Cr0.38 Cr0.38 Cr0.87 Cr
Interest13 Cr13 Cr13 Cr13 Cr13 Cr13 Cr13 Cr13 Cr0 Cr0 Cr0.07 Cr0.27 Cr
Depreciation1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr0.05 Cr0.08 Cr
Profit before tax-13 Cr-12 Cr-13 Cr-13 Cr-13 Cr-12 Cr-13 Cr-13 Cr-1 Cr459 Cr3 Cr1 Cr
Tax %-1.2%9.8%1.1%1.1%1.1%1.2%-5.8%1.3%13.6%4.2%20.3%19.4%
Net profit-13 Cr-11 Cr-13 Cr-13 Cr-12 Cr-12 Cr-14 Cr-13 Cr-1 Cr440 Cr2 Cr0.92 Cr
EPS (₹)₹-4.74₹-2.78₹-2.37₹-7.60₹-3.42₹-1.72₹0.92₹-3.79₹0.33₹14.44₹0.07₹0.03

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2026TTM
Sales——76 Cr68 Cr63 Cr66 Cr53 Cr104 CrSign in free for the trailing twelve months
Operating expenses (approx.)——93 Cr61 Cr57 Cr60 Cr51 Cr99 CrSign in free for the trailing twelve months
EBITDA——-17 Cr7 Cr6 Cr6 Cr2 Cr5 CrSign in free for the trailing twelve months
OPM %——-21.7%10.1%9.4%8.6%3.7%4.6%Sign in free for the trailing twelve months
Other income——0.29 Cr3 Cr0.24 Cr0.13 Cr0.59 Cr0.88 CrSign in free for the trailing twelve months
Interest——52 Cr52 Cr52 Cr52 Cr26 Cr0.08 CrSign in free for the trailing twelve months
Depreciation——5 Cr5 Cr4 Cr4 Cr4 Cr0.14 CrSign in free for the trailing twelve months
Profit before tax——-74 Cr-47 Cr-50 Cr-51 Cr432 Cr7 CrSign in free for the trailing twelve months
Tax %——10.5%-9.4%2.5%1.1%4.5%11.4%Sign in free for the trailing twelve months
Net profit——-66 Cr-51 Cr-49 Cr-50 Cr412 Cr6 CrSign in free for the trailing twelve months
EPS (₹)——₹-12.66₹-6.85₹-16.75₹-11.30₹13.54₹0.08Sign in free for the trailing twelve months
Dividend payout %——————0.0%0.0%Sign in free for the trailing twelve months
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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2026
Equity capital34 Cr34 Cr34 Cr34 Cr34 Cr34 Cr30 Cr30 Cr
Reserves163 Cr146 Cr125 Cr114 Cr60 Cr32 Cr498 Cr4 Cr
Borrowings172 Cr172 Cr173 Cr331 Cr358 Cr385 Cr—9 Cr
Other liabilities1,277 Cr1,131 Cr1,148 Cr1,120 Cr1,127 Cr1,167 Cr222 Cr25 Cr
Total liabilities1,646 Cr1,483 Cr1,480 Cr1,600 Cr1,578 Cr1,619 Cr750 Cr68 Cr
Fixed assets (net)44 Cr36 Cr31 Cr24 Cr19 Cr15 Cr4 Cr2 Cr
CWIP14 Cr14 Cr14 Cr12 Cr12 Cr12 Cr0 Cr0 Cr
Investments——0 Cr0 Cr0 Cr0 Cr0 Cr13 Cr
Loans & advances——0.92 Cr0.54 Cr0.50 Cr0.51 Cr0.49 Cr0.01 Cr
Inventories5 Cr4 Cr3 Cr3 Cr3 Cr4 Cr0.16 Cr0.02 Cr
Trade receivables1,148 Cr897 Cr948 Cr1,073 Cr1,050 Cr1,085 Cr339 Cr26 Cr
Cash & bank4 Cr5 Cr5 Cr7 Cr6 Cr6 Cr5 Cr1 Cr
Other assets431 Cr527 Cr479 Cr481 Cr488 Cr496 Cr400 Cr26 Cr
Total assets1,646 Cr1,483 Cr1,480 Cr1,600 Cr1,578 Cr1,619 Cr750 Cr68 Cr

Cash flows

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2026
Cash from operating activity4 Cr-4 Cr9 Cr20 Cr27 Cr4 Cr-3 Cr1 Cr
Cash from investing-0.82 Cr4 Cr43 Cr51 Cr0.24 Cr0.12 Cr-0.0022 Cr-10 Cr
Cash from financing-2 Cr0.08 Cr-52 Cr-68 Cr-25 Cr0.0090 Cr-2 Cr8 Cr
Net cash flow0.89 Cr-0.09 Cr0.08 Cr2 Cr2 Cr4 Cr-6 Cr-0.38 Cr
Free cash flow (OCF − Capex)3 Cr-4 Cr——27 Cr4 Cr-3 Cr-0.38 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2026
ROCE %——-6.5%1.2%0.4%0.3%86.7%15.8%
ROE %——-41.7%-34.6%-52.5%-75.7%78.1%17.4%
Debtor days——4529575960226024234890
Inventory days——78126391392240
Days payable——497632492812619886087
Cash conversion cycle——-3692636-21713-1347023724
OCF / EBITDA %———289.4%460.8%70.6%-178.4%28.5%
OCF / EBITDA % (3 years)—————277.8%206.4%—
Debt / equity0.870.961.092.233.825.79—0.26
Current ratio0.850.820.810.830.800.79—1.07
Net debt / EBITDA———47.1559.0667.16-2.641.57