BSE: 531533
ACCEDERE LIMITED
Provides AI-powered Governance, Risk and Compliance (GRC) software through its platform Controllo.ai, which helps organisations comply with Indian and global regulatory standards including the Digital Personal Data Protection Act (DPDPA), SEBI Cyber Security and Cyber Resilience Framework, RBI cybersecurity norms, CERT-In, ISO 27001, SOC 2, GDPR, HIPAA and NIST. The platform's AI engine, called 'Secura', automates evidence review, regulatory control mapping, risk monitoring, consent management and audit preparation. The company also owns a wholly-owned subsidiary, Freebird Aerospace, which is developing autonomous 'Flying Sensor' platforms named NanoBee and NanoWasp in the sub-250g drone category. Freebird Aerospace is staffed by IIT alumni and is positioned around patented AI innovations, but it contributed only ₹0.94 lakh of revenue and a net loss of ₹14.85 lakhs in FY26. Consolidated FY26 standalone revenue was ₹414.40 lakhs, up from ₹364.18 lakhs in FY25, with standalone profit after tax of ₹80.43 lakhs versus ₹25.40 lakhs the prior year. Operating cash flow on a standalone basis was ₹88.07 lakhs. The cost base is dominated by people, with employee cost at 45.4% of revenue and other operating expenses at 28.3%, while depreciation was 6.9% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Controllo.ai – AI-powered Cyber GRC platform, Freebird Aerospace – Flying Sensor / drone platforms (NanoBee, NanoWasp). Small-cap, employee-intensive IT-software and consulting business with a loss-making drone-systems subsidiary
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 2 | 3 | 4 | 4 |
| EBITDA (ex other income) | 0 | (0) | (0) | 0 | 1 |
| margin % | 5.6 | (0.7) | (0.4) | 4.8 | 26.2 |
| Owners' profit | 0 | (0) | (0) | 0 | 0 |
| EPS, as reported (₹) | (0.05) | 0.05 | (0.16) | 0.44 | 1.37 |
| ROE % · ROCE % | (0.5) · (1.2) | (1.8) · (2.3) | (1.7) · (1.6) | 3.2 · 3.2 | 13.1 · 16.0 |
| Debt / equity (x) | 0.00 | 0.06 | 0.07 | 0.09 | 0.05 |
| Cash from operations | 1 | 0 | 0 | 1 | 1 |
| Capex | 0 | (0) | (0) | (3) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Profit before tax | (0) | 0 | 0 | (0) | 0 | 0 | (0) | 1 |
| Net profit | (0) | 0 | 0 | (0) | 0 | 0 | (0) | 1 |
| EPS (₹) | 0.10 | 0.24 | 0.10 | 0.05 | 0.10 | 0.17 | 0.06 | 1.15 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TATA CONSULTANCY SERV LT | 7,51,512 | 15.1 | 6.93 | 10.3 | 45.6 | 53.9 | 10.2 | 26.9 |
| INFOSYS LIMITED | 4,04,383 | 13.4 | 4.33 | 8.4 | 31.6 | 38.6 | 12.2 | 25.7 |
| HCL TECHNOLOGIES LTD | 3,19,528 | 18.3 | 4.25 | 11.4 | 22.1 | 26.2 | 11.5 | 20.9 |
| WIPRO LTD | 1,56,852 | 12.6 | 1.78 | 7.5 | 15.0 | 17.1 | 8.4 | 22.9 |
| TECH MAHINDRA LIMITED | 1,46,628 | 25.8 | 4.88 | 16.4 | 16.0 | 18.8 | 8.5 | 16.8 |
| LTM LIMITED | 1,15,884 | 22.2 | 4.81 | 14.0 | 20.7 | 24.8 | 27.9 | 20.0 |
| PERSISTENT SYSTEMS LTD | 86,258 | 44.4 | 11.01 | 29.5 | 23.8 | 28.5 | 28.6 | 17.8 |
| COFORGE LIMITED | 80,283 | 36.9 | 8.29 | 28.6 | 18.0 | 17.2 | 28.6 | 18.6 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 27.1 | 15.6 | 47 of 65 | 28% |
| P/B | 3.6 | 2.7 | 39 of 65 | 41% |
| ROCE | 15.9 | 14.2 | 34 of 76 | 56% |
| ROE | 13.1 | 11.5 | 28 of 64 | 57% |
| Debt / Equity | 0.1 | 0.0 | 36 of 65 | 45% |
| EBITDA margin | 54.0 | 18.4 | 4 of 65 | 95% |
| Revenue growth | 86.8 | 10.6 | 5 of 63 | 94% |
| Profit growth | 953.4 | 6.7 | 2 of 62 | 98% |
| Market cap | 18 | 453 | 66 of 76 | 13% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 29 Sept 2026 · Trading window closed from October 1, 2026 for Q2 results | compliance | minimal | — | — |
| 23 Sept 2026 · Accedere 43rd AGM held; 7 resolutions including dividend and MOA changes | board shareholder meetings | low | — | — |
| 16 Sept 2026 · Accedere clarifies price movement citing GSM/ASM shifts and first dividend | regulatory legal | medium | — | — |
| 15 Sept 2026 · BSE seeks clarification on significant price movement | regulatory legal | high | — | — |
| 31 Aug 2026 · AGM Notice and Annual Report FY2025-26 with dividend and MOA changes | board shareholder meetings | medium | — | — |
| 28 Aug 2026 · Accedere 43rd AGM on Sep 23, 2026 - Final dividend Rs 0.10/share, MOA alteration | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Accedere posts strong FY26; PAT jumps over 3x to Rs 62.78 lakh | results | high | — | — |
| 24 Aug 2026 · Board fixes Record Date for FY26 final dividend | corporate actions | high | — | — |
| 24 Aug 2026 · Board sets AGM on Sept 23 and record date of Sept 16 for final dividend | corporate actions | high | — | — |
| 18 Aug 2026 · Board meeting on 24 Aug to finalise AGM date and dividend record date | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.