Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · Ardi Alliances Limited · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
Ardi Alliances Limited
BSE: 504370
BSE: 504370
Services › Services › Commercial Services & Supplies › Diversified Commercial Services
Ardi Alliances Limited
StateQ4 FY26 filed
Last close—
Market cap—
TTM P/E · P/B · EV/EBITDA— · — · —
Ardi Alliances Limited is a Commercial Services & Supplies company. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 19 | 3 |
| EBITDA (ex other income) | (0) | (0) | (0) | 0 | 0 |
| margin % | — | — | — | 0.2 | 1.8 |
| Owners' profit | (1) | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | (12.93) | 1.44 | 4.58 | 1.62 | 0.95 |
| ROE % · ROCE % | 474.6 · 474.6 | (162.0) · (186.1) | 129.4 · 173.0 | 31.4 · 3.0 | 11.5 · 3.0 |
| Debt / equity (x) | (32.75) | (57.74) | 14.44 | 6.91 | 4.33 |
| Cash from operations | 0 | (1) | (1) | 1 | 0 |
| Capex | 0 | 0 | 0 | 0 | 0 |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · Ardi Alliances Limited · 29 October 2026Page 2 of 3
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 | 4 | 4 | 1 | 10 | 0 | 0 | 0 | 3 |
| Profit before tax | 1 | 1 | (0) | (2) | (0) | (0) | (0) | 0 |
| Net profit | 1 | 1 | (0) | (2) | (0) | (0) | (0) | 0 |
| EPS (₹) | 16.71 | 17.18 | (4.35) | (38.29) | (0.47) | (0.24) | (0.17) | 1.83 |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
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. % |
|---|---|---|---|---|---|---|---|---|
| INTL GEMOLOGICAL INST LTD | 17,213 | 28.2 | 11.57 | 16.5 | 47.8 | 58.1 | — | 64.6 |
| WEWORK INDIA MANAGEMENT L | 8,821 | 101.2 | 29.48 | 5.6 | 25.0 | 1.0 | — | 66.5 |
| NESCO LTD. | 7,059 | 16.9 | 2.36 | 11.9 | 13.8 | 14.8 | 26.2 | 68.9 |
| NIRLON LTD | 5,677 | 16.4 | 12.12 | — | 73.8 | 18.1 | — | 79.4 |
| SMARTWORKS COWORKING SP L | 5,439 | 195.1 | 10.25 | 4.6 | 2.0 | 0.3 | — | 65.8 |
| QUESS CORP LIMITED | 4,838 | 19.1 | 4.14 | 14.5 | 19.0 | 14.4 | 7.1 | 2.6 |
| INOX GREEN ENERGY SER LTD | 4,250 | 34.0 | 2.48 | 25.3 | 6.0 | 9.0 | — | 131.6 |
| INDIQUBE SPACES LIMITED | 3,731 | — | 7.25 | — | (20.7) | (2.5) | — | 67.3 |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| ROCE | 3.0 | 3.4 | 55 of 103 | 47% |
| ROE | 11.5 | 2.9 | 30 of 113 | 74% |
| Debt / Equity | 4.3 | 0.1 | 90 of 91 | 1% |
| EBITDA margin | 3.0 | 25.4 | 69 of 92 | 25% |
| Revenue growth | (70.6) | 16.2 | 84 of 91 | 8% |
| Profit growth | 104.8 | 5.2 | 27 of 110 | 76% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · Ardi Alliances Limited · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · RTA submits Regulation 74(5) compliance certificate for Sept 2026 quarter | compliance | minimal | — | — |
| 14 Oct 2026 · Ardi Alliances Q2 FY27: Net Loss of Rs 7.83 Lakh, Auditor Flags Concerns | results | high | — | — |
| 14 Oct 2026 · Ardi Alliances Q2 loss; auditor flags verification gaps | results | high | — | — |
| 9 Oct 2026 · Board meeting on Oct 14, 2026 to consider Q2 FY27 results | results | low | — | — |
| 30 Sept 2026 · Ardi Alliances 45th AGM: All 5 resolutions passed unanimously | compliance | minimal | — | — |
| 29 Sept 2026 · 45th AGM of Ardi Alliances held; 5 resolutions transacted | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed ahead of Q2 results | compliance | minimal | — | — |
| 7 Sept 2026 · Book Closure for 45th AGM from Sept 23 to Sept 29, 2026 | compliance | minimal | — | — |
| 7 Sept 2026 · Ardi Alliances submits Annual Report for FY 2025-26 with revenue decline | results | high | — | — |
| 7 Sept 2026 · Ardi Alliance 45th AGM on 29 Sept 2026 with 5 resolutions | board shareholder meetings | low | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in