Avio Smart Market Stack Limited

NSE: ASMS · IT Enabled Services

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52W Range₹5 – ₹17

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Snapshot

Unlock Avio Smart Market Stack Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Bartronics India Ltd specialises in Automatic Identification and Data Capture (AIDC) solutions, leveraging barcode and smart card technologies. The company operates a manufacturing facility for smart cards and provides integrated solutions for government-led financial inclusion initiatives.

Business Model

The company generates revenue through the manufacturing and supply of smart cards and the implementation of AIDC-based technology projects. It further monetises its technical capabilities by participating in large-scale government financial inclusion programmes.

  • Smart card manufacturing capacity:80 million per annum

Growth Outlook

Growth is primarily driven by the company's involvement in national financial inclusion projects such as the Jan Dhan Yojana. Future prospects rely on the continued adoption of AIDC technologies across various sectors in India.

Key Risks

  • Concentration Risk. Heavy reliance on government-led financial inclusion projects may lead to revenue volatility if policy priorities shift.
  • Technological Obsolescence. The rapid evolution of identification and data capture technologies requires constant capital investment to remain competitive.
  • Operational Risk. Maintaining high-volume manufacturing facilities involves significant overheads and exposure to supply chain disruptions.

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Key Metrics

REVENUE

₹104 Cr

TTM · standalone

+159.6%YoY

NET PROFIT

₹6 Cr

TTM · standalone

+243.7%YoY

EPS

₹0.19

TTM · standalone

+216.7%YoY

RETURN ON EQUITY

20.1%

TTM · standalone

+13.6 ppYoY

RETURN ON CAPITAL EMPLOYED

17.2%

TTM · standalone

+8.5 ppYoY

P/E

31.2x

Q4 FY26 · standalone

31.2 vs 28.2x5Y avg

EV/EBITDA

36.2x

Q4 FY26 · standalone

36.2 vs 256.3x5Y avg

EBITDA MARGIN

5.4%

TTM · standalone

+4.5 ppYoY

Peers · IT Enabled Services

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Avio Smart Market Stack LimitedASMS
₹197 Cr31.1636.15159.6%5.4%20.1%17.2%-57.4%
ACS Technologies LimitedACSTECH
₹465 Cr40.5520.50140.7%7.5%10.0%15.4%+136.9%
Sattrix Information Security LimitedSATTRIX
₹424 Cr———20.5%——-2.5%
DiGiSPICE Technologies LimitedDIGISPICE
₹387 Cr18.495.31-3.0%10.7%8.5%13.2%-44.8%
Inspirisys Solutions LimitedINSPIRISYS
₹363 Cr8.548.6135.2%10.1%49.0%25.2%-10.9%
Tera SoftwareTERASOFT
₹289 Cr10.497.97120.9%15.9%18.5%28.2%-56.6%

As of Q4 FY26

Financials