NSE: CNL · BSE: 544631
CREATIVE NEWTECH LIMITED
Distributes enterprise technology products — surveillance, IT hardware, AI, IoT, cybersecurity, drones and connected infrastructure — across India and overseas through its Market Entry Specialist segment, which generated 90.9% of FY26 revenue at ₹2,318.92 crore. The Brand Business segment (9.1% of revenue, ₹232.24 crore) sells Honeywell-licensed products (air purifiers, security cameras and similar) across 38+ countries in APAC, Middle East and Africa, plus the newly launched WOZOYO consumer brand and Vertual, an own surveillance brand slated for May 2026 launch in India and the US. FY26 consolidated revenue stood at ₹2,699.77 crore with an EBITDA margin of 3.85%, and the brand business grew to ₹369.61 crore (14.1% of total) split between India (₹231.98 crore) and overseas (₹137.6 crore). Online quick commerce grew over 100% in India, UAE and Saudi Arabia, with the company stating it sold one product every 60 seconds online in FY26. Major order pipeline includes a BharatNet Middle Mile Network Advance Work Order from BSNL for the Odisha circle with a total project value of approximately ₹3,194.83 crore, and a board-approved acquisition of Infinova (India) Private Limited with a budget of up to USD 4 million to add a Pune assembly and manufacturing facility for Make-in-India surveillance products. The Honeywell licensing renewal is due in March 2027. Cost structure is dominated by other operating expenses at 3.9% of revenue, with employee costs at 0.8%, reflecting an asset-light distribution model now transitioning toward brand ownership and in-house manufacturing. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Market Entry Specialist (91%), Brand Business (9%). Asset-light technology distribution pivoting toward own brand ownership and Make-in-India manufacturing
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 1,376 | 1,713 | 1,774 | 2,700 |
| EBITDA (ex other income) | 19 | 41 | 46 | 86 |
| margin % | 1.4 | 2.4 | 2.6 | 3.2 |
| Owners' profit | 0 | 44 | 53 | 70 |
| EPS, as reported (₹) | 19.53 | 32.58 | 32.18 | 41.04 |
| ROE % · ROCE % | 21.6 · 32.0 | 21.5 · 29.2 | 17.2 · 22.9 | 18.1 · 26.4 |
| Debt / equity (x) | 0.70 | 0.33 | 0.23 | 0.84 |
| Cash from operations | (21) | (28) | 22 | (273) |
| Capex | (1) | 0 | 0 | (3) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 411 | 659 | 403 | 393 | 655 | 912 | 740 | 476 |
| Profit before tax | 15 | 20 | 16 | 12 | 22 | 26 | 22 | 17 |
| Net profit | 13 | 17 | 14 | 10 | 19 | 23 | 18 | 14 |
| EPS (₹) | 7.85 | 10.57 | 8.40 | 5.92 | 10.85 | 13.52 | 10.74 | 8.23 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Brand Business | 316 | 11.7 |
| Market Entry Specialist | 1,991 | 73.7 |
| Enterprise Business | 259 | 9.6 |
| Fast Moving Social Media Gadgets | 98 | 3.6 |
| Fast Moving Electronics Goods | 0 | 0.0 |
| Fast Moving Consumer Technology | 35 | 1.3 |
| Total, before eliminations | 2,700 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 27,525 | 16.2 | 2.64 | 12.8 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,740 | 17.3 | 3.65 | 16.5 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,896 | 16.6 | 4.31 | 11.3 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED ◆ | 1,653 | 25.4 | 4.27 | 19.0 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,104 | — | 12.27 | — | (0.0) | (0.0) | — | 45.0 |
| SHIV AUM STEELS LIMITED | 736 | 64.8 | 6.09 | 47.0 | 6.0 | 6.9 | — | 4.9 |
| The Yamuna Syndicate Ltd | 736 | 8.1 | 0.57 | 185.3 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 602 | 0.9 | — | 51.0 | — | — | — | — |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 25.4 | 13.9 | 94 of 130 | 28% |
| P/B | 4.3 | 0.9 | 127 of 150 | 15% |
| ROCE | 21.0 | 2.1 | 14 of 177 | 93% |
| ROE | 18.1 | 2.3 | 16 of 158 | 90% |
| Debt / Equity | 0.8 | 0.1 | 126 of 154 | 18% |
| EBITDA margin | 5.2 | 4.5 | 64 of 137 | 54% |
| Revenue growth | 21.1 | (8.6) | 42 of 135 | 69% |
| Profit growth | 32.9 | 0.6 | 67 of 157 | 58% |
| Market cap | 1653 | 21 | 4 of 179 | 98% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Q2 FY27 profit rises; FY29 revenue target set at ₹6,000 crore | investor communications | medium | — | — |
| 28 Oct 2026 · Q2 profit rises 36.9% as cash flow turns positive | compliance | low | — | — |
| 28 Oct 2026 · Q2 FY27 standalone profit after tax rises 78.43% to Rs 12.65 crore | compliance | low | — | — |
| 28 Oct 2026 · September 2026 quarter: revenue up 15%, profit after tax up 37% | results | high | — | — |
| 27 Oct 2026 · Subsidiary's WOZOYO brand wins Amazon Ads New Rising Star award | business updates | low | — | — |
| 26 Oct 2026 · Earnings call set for 29 October 2026 | board shareholder meetings | low | — | — |
| 24 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 13 Oct 2026 · Routine compliance certificate from registrar for Q2 FY27 | compliance | minimal | — | — |
| 1 Oct 2026 · Creative Newtech AGM 2026: All 9 resolutions passed, Rs 0.50 dividend declared | board shareholder meetings | low | — | — |
| 1 Oct 2026 · All 9 resolutions passed unanimously at 22nd AGM | compliance | minimal | — | — |
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.