NSE: VERTOZ
VERTOZ LIMITED
Runs a digital advertising and ad-technology business, developing programmatic platforms that connect advertisers to digital ad inventory across channels. In June 2026 it filed a fourth patent in India covering machine-learning-based DSP prediction and real-time ad slot allotment, and in April 2026 filed a separate patent on dynamic CPM (cost per mille) pricing models. In February 2026 it completed the acquisition of Webimax LLC, a US-based firm, to expand AI-led media execution capabilities in the US market. Media or pass-through inventory cost is the largest expense at 66.1% of revenue, followed by employee cost at 9.7% and depreciation at 5.5%, with capex at 25.8% of revenue in FY26. Operating cash flow turned positive in FY26 versus a negative cash flow the prior year. Promoters hold 64.80% of share capital and voluntarily waived their entitlement to the company's first-ever interim dividend of Rs. 0.10 per share. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Digital advertising and ad-tech platform. AI-led, IP-building digital ad-tech and programmatic media company
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 42 | 83 | 155 | 255 | 292 |
| EBITDA (ex other income) | 11 | 17 | 21 | 36 | 49 |
| margin % | 26.0 | 20.7 | 13.8 | 14.3 | 16.7 |
| Owners' profit | 6 | 11 | 16 | 26 | 26 |
| EPS, as reported (₹) | 5.10 | 9.22 | 10.04 | 0.30 | 0.31 |
| ROE % · ROCE % | — · — | 10.8 · 14.9 | 10.2 · 10.8 | 13.5 · 15.4 | 11.4 · 13.1 |
| Debt / equity (x) | — | 0.08 | 0.09 | 0.10 | 0.36 |
| Cash from operations | 5 | (15) | 1 | 8 | 60 |
| Capex | (1) | (0) | (41) | 0 | (75) |
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 | 64 | 66 | 65 | 70 | 72 | 75 | 74 | 82 |
| Profit before tax | 7 | 8 | 7 | 7 | 8 | 8 | 9 | 8 |
| Net profit | 7 | 7 | 6 | 6 | 7 | 6 | 6 | 7 |
| EPS (₹) | 0.08 | 0.09 | 0.07 | 0.76 | 0.85 | 0.72 | 0.73 | 0.86 |
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. % |
|---|---|---|---|---|---|---|---|---|
| L&T TECHNOLOGY SER. LTD. | 43,370 | 32.9 | 6.68 | 20.0 | 19.7 | 21.1 | 15.1 | 19.6 |
| INVENTURUS KNOWLEDGE SO L | 28,839 | 37.0 | 10.30 | 26.2 | 25.8 | 27.7 | — | 33.6 |
| TATA TECHNOLOGIES LIMITED | 26,430 | 47.4 | 6.74 | 28.7 | 13.9 | 14.3 | — | 18.3 |
| NETWEB TECH INDIA LTD | 25,071 | 95.9 | 34.66 | — | 28.5 | 37.5 | — | 15.7 |
| SAGILITY LIMITED | 21,192 | 21.4 | 2.19 | 12.0 | 9.6 | 11.6 | — | 22.3 |
| AFFLE 3I LIMITED | 19,968 | 41.7 | 5.47 | 27.3 | 12.5 | 15.2 | 39.3 | 25.8 |
| BLACK BOX LIMITED | 14,418 | 61.8 | 11.20 | 28.7 | 16.9 | 9.5 | 6.2 | 8.4 |
| CYIENT LIMITED | 12,888 | 33.8 | 2.09 | 11.7 | 7.5 | 9.7 | 12.0 | 13.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.8 | 17.9 | 21 of 76 | 73% |
| P/B | 1.1 | 2.2 | 25 of 70 | 65% |
| ROCE | 11.2 | 9.6 | 40 of 86 | 54% |
| ROE | 11.4 | 9.2 | 28 of 70 | 61% |
| Debt / Equity | 0.4 | 0.0 | 65 of 70 | 7% |
| EBITDA margin | 19.2 | 13.0 | 24 of 69 | 66% |
| Revenue growth | 15.8 | 20.8 | 40 of 67 | 41% |
| Profit growth | 13.8 | 14.6 | 33 of 64 | 49% |
| Market cap | 263 | 325 | 45 of 87 | 49% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Vertoz launches AI assistant access to advertising platforms | compliance | low | — | — |
| 8 Oct 2026 · Vertoz files demat remat certificate for Sep 2026 quarter | compliance | minimal | — | — |
| 1 Oct 2026 · AGM Results: All 5 Resolutions Passed Including Share Swap Preferential Issue | board shareholder meetings | medium | — | — |
| 29 Sept 2026 · Vertoz Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 29, 2026 | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · Trading window closure from 1st October 2026 for Q2 results | compliance | minimal | — | — |
| 25 Sept 2026 · Vertoz clarifies EPS discrepancy in XBRL filing for Q1 FY27 | regulatory legal | medium | — | — |
| 8 Sept 2026 · Newspaper ad published for 15th AGM notice and Annual Report dispatch | compliance | minimal | — | — |
| 7 Sept 2026 · Vertoz 15th AGM on Sep 29, FY26 annual report link sent to shareholders | compliance | minimal | — | — |
| 7 Sept 2026 · Vertoz 15th AGM on Sept 29; key item is share-swap acquisition of Tavento Labs | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Newspaper publication of 15th AGM notice information | 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.