Companies whose own annual reports evidence AI exposure — building or selling AI products, not merely mentioning the trend. The tier says how real it is; the quote under each row is the proof.
Core — the theme IS a principal business todayGrowing — real operations, not yet the main businessAnnounced — committed plans or orders, little revenue yetMention-only — appears only as outlook language
Jet Freight LogisticsLogistics Solution ProviderMention-only₹89 CrP/E 11.8 vs 15.7ROCE 13.3%
The Chairman's letter only references AI in aspirational/outlook language — preparing for AI-enabled capabilities — with no operational deployment today.
“We are investing in integrated ERP and CRM platforms while preparing for AI-enabled logistics capabilities that will deliver real-time shipment visibility, predictive insights, enhanced operational efficiency and superior customer experience.”
+1 more quote from the report
“The industry witnessed accelerated adoption of digital technologies, including automation, artificial intelligence, data analytics, digital documentation and real-time cargo tracking solutions, enabling logistics service providers to improve operational efficiency, cargo visibility and customer experience.”
Emiac TechnologiesWeb based media and serviceMention-only₹76 CrP/E 82.4ROCE 21.7%
EMIAC references AI only as part of an industry-outlook statement and as a future capability to combine with its existing digital marketing, content and branding services — no AI products, platforms or revenue are disclosed.
“With the increasing adoption of digital platforms, data-driven marketing, artificial intelligence and automation across industries, the Company believes that the evolving digital ecosystem presents significant opportunities for expansion and value creation.”
Jetking is an IT education company; AI is referenced only as an aspirational direction for integrating into their learning delivery, not as a developed/sold AI product or service.
“We intend to increasingly integrate technology and artificial intelligence into how students learn, practise, receive feedback and prepare themselves for the workplace.”
Arman HoldingsInvestment CompanyMention-only₹71 CrP/E 56.2 vs 21.5ROCE 17.2%
Company altered its object clause via postal ballot on 26 March 2026 to permit future activity in IT, software development, robotics and AI, but there is no current revenue or operational deployment of AI.
C G V A K Software & EXComputers - Software & ConsultingMention-only₹70 CrP/E 7.3 vs 15.6ROCE 15.0%
Software services company states future plans to increase investments in AI, AI-enabled software development, and Agentic AI solutions, but no current AI revenue or committed capex is disclosed.
“the Company remains focused on strengthening its position as a preferred technology partner and increasing its investments in Artificial Intelligence (AI), including AI-enabled software development and Agentic AI solutions”
AccelComputers - Software & ConsultingMention-only₹67 CrP/E 13.1 vs 15.6ROCE 1.5%
AI is referenced only as a forward-looking capability area in the Chairman's message and priorities list, not as a current developed or deployed AI product/service.
“At Accel, we have responded to these changes by strengthening our portfolio across Managed Services, Digital Transformation and Cybersecurity, while progressively enhancing our capabilities in cloud and AI-led solutions.”
Mizzen VenturesDiversified Commercial ServicesMention-only₹62 CrP/E 59.0 vs 13.6ROCE 2.9%
Company's core business is traditional rule-based maritime SaaS; AI integration is stated only as a future intention and aspirational outlook, with no current AI products or revenue.
“The Company intends to progressively evaluate and integrate appropriate AI-led capabilities into its products, technology architecture and workflows with a view to improving operational efficiency, strengthening its product offerings, enhancing customer experience, creating scalable technology solutions and capturing future revenue opportunities across existing as well as new business segments.”
Amkay ProductsMedical Equipment & SuppliesMention-only₹59 CrP/E 15.3 vs 21.9ROCE 11.8%
AI appears only as part of a generic medical-device industry outlook; the company does not develop, sell or operationally deploy AI/ML products.
“Technological developments such as digital healthcare, connected medical devices, artificial intelligence, remote monitoring, wearable technologies and advanced diagnostics are creating new opportunities for manufacturers and healthcare product companies.”
AI is mentioned only in the broadened Objects Clause approved via postal ballot as future diversification scope; no current AI/ML products, platforms or revenue are described.
“The revised Objects Clause encompasses activities relating to Information Technology, Geomatics, GIS, data and analytics, artificial intelligence, automation, digital media and marketing, cloud solutions, business solutions, payment systems and other allied technology-enabled services.”
AI is referenced only in the Opportunities/Outlook section as an industry-wide trend the company hopes to leverage; no evidence of AI products, models, or deployed AI services.
“The rapidly changing global business environment, coupled with advancements in informaƟon technology, arƟficial intelligence and data-driven soluƟons, conƟnues to reshape industry dynamics and create significant growth opportuniƟes”
OrchaspComputers - Software & ConsultingMention-only₹47 CrP/E 45.0 vs 15.6ROCE 0.9%
Orchasp is an IT services and digital transformation partner that lists AI as a capability it strengthened; AI is described as an internal feature of its platforms (e.g., induskare) rather than a standalone productized business.
“we strengthened our capabilities across Artifi cial intelligence & cloud computing, data analytics, application development, mobile application, support and managed services.”
AI is referenced only as an exploratory technology initiative and in outlook language ('AI-enabled project monitoring'); there is no AI product, platform or revenue line.
“Exploration of AI-driven engineering solutions.”
Vivo Bio TechBiotechnologyMention-only₹32 CrP/E 3.4 vs 61.2ROCE 3.2%
AI is referenced only as an aspirational item under the Mission's 'Continuous Growth' pillar; no AI/ML product, platform or operational deployment is described.
“Constantly adapt to and implement cutting-edge advancements in medical science, life technology and artificial intelligence.”
Ansal HousingResidential, Commercial ProjectsMention-only₹32 CrP/E 0.8 vs 18.4ROCE -17.3%
AI is referenced only as an industry-wide technology trend transforming real estate; Ansal Housing itself does not develop, sell or operationally deploy any AI/ML products or services.
“Technological integration is transforming the Indian real estate sector through AI and blockchain. It is also streamlining processes such as property transactions legal verifications, and market analysis.”
AI is listed only as a sector opportunity in the MD&A's Opportunities bullet list; the NBFC (5 employees) does not develop, sell or operationally deploy any AI/ML product.
“Data analytics and AI-enabled credit assessment.”
Tejnaksh HealthcareHealthcare Service ProviderMention-only₹26 CrP/E 21.8 vs 22.5ROCE 5.6%
AI is referenced only as part of broader healthcare-sector industry commentary in the MD&A, with no indication the Company develops or deploys AI products as a business line.
“Digital healthcare, telemedicine, artificial intelligence, electronic health records, diagnostics and remote monitoring are increasingly becoming integral to healthcare delivery.”
AI is referenced only as an industry-wide opportunity for the housing sector in SHCL's MD&A; the company itself does not develop, sell, or deploy AI products.
“Technological Integration: AI-based property management, digital sales platforms, and smart home automation—are transforming the housing experience”
The MD describes AI as both a disruptive force on the company's software services business and an opportunity; the firm is investing in engineering team capability to work with AI tools, but the text does not describe selling or deploying AI products or platforms as a business line.
“On artificial intelligence I will be direct. It caused the slowdown described above, and it is also the opportunity. A firm of this kind will either build with these tools or be displaced by them, and the Company has chosen the first.”
AI is referenced only as an industry-wide innovation trend in the textile sector MD&A, not as a business activity Blue Chip Tex actually deploys or sells.
“Ongoing innovation in digital printing, AI-driven quality control, and IoT-enabled machinery is projected to streamline textile manufacturing at scale”
AI is mentioned only as part of industry commentary about technology adoption in the global shipping industry, not as any activity or business of the company.
“Digitalisation, automation, artificial intelligence and connected technologies are increasingly being adopted to improve operational efficiency and reduce costs.”
SDC TechmediaFilm Production, Distribution & ExhibitionMention-only₹12 CrP/E 4.8 vs 61.3ROCE -18.8%
AI appears only as generic industry commentary about content creation trends in entertainment within the MDA, not as an actual business activity, product or service of SDC Techmedia.
“Artificial Intelligence is increasing content creation across entertainment platforms.”
Epuja SpiritechNon Banking Financial Company (NBFC)Mention-only₹11 CrROCE -62.9%
AI/ML appears only in the amended main objects of the Memorandum of Association as an aspirational R&D direction, with no current AI product, platform or revenue.
“To establish Research & Development centers for innovation in artificial intelligence, machine learning, blockchain, and IoT applications in agriculture and allied sectors.”
The hospital company mentions integrating open AI platforms into its '911' healthcare product in a technology absorption disclosure; AI is not a revenue driver but a feature being added to its service.
“We are happy to have develop and integrate open AI platforms with our 911 product with new features and a completely new application with this association.”
MID India IndustriesOther Textile ProductsMention-only₹9 CrP/E 31.8 vs 16.4ROCE -8.1%
AI is referenced only as a general driver of global economic growth in the MD&A industry outlook; the company itself has no operational or commercial AI exposure.
“The continued advancement of digital technologies, artificial intelligence, infrastructure investments, and manufacturing diversification across emerging markets is expected to support sustainable economic growth in the coming years.”
AI is referenced only in passing market commentary by the directors about FII flows to other markets; the stockbroker has no AI product, service or operational exposure.
“One possibility is FII flows are moving to markets like USA, Korea and even Japan where the AI buzz is propelling markets to new highs on a regular basis. In India, the technology companies have been late in jumping onto the AI bandwagon”
AI is listed only as one of several technologies the company is evaluating for future agricultural applications; no AI products, services or revenue exist today.
“The Company is evaluating the application of technologies such as drones, Artificial Intelligence (AI), digital platforms, remote sensing and data-driven solutions for potential applications in agriculture and allied sectors.”
AI is cited only as an emerging investment opportunity in India's capital markets; GCM itself does not develop or sell AI products.
“Investment avenues in renewable energy, Artificial Intelligence (AI), the electric vehicle (EV) ecosystem, and biopharma are expanding as India aligns with global supply-chain realignments.”
AI is referenced only aspirationally in the company's vision statement; the business is an IT services/staffing firm with no described AI product, platform or deployment.
“Tranway21 believes in building leaders by imbibing qualities of dedication and aspiration that empower them to invent and achieve business goals in age of AI adaptation.”
AI is mentioned only as a progressive/aspirational technology adoption goal alongside other IT initiatives, not as a current product, service or revenue line.
“We continue to prioritise technology adoption — modern diagnostic equipment, hospital information systems, telemedicine and, progressively, AI-assisted diagnostics and digital patient engagement.”
AI/ML is referenced only as a topic within an employee reskilling program, with no current AI products, platforms or deployment as a business line.
“A comprehensive reskilling programme is underway across the organisation, equipping our workforce with the competencies demanded by a rapidly evolving insurance landscape, spanning digital underwriting, usage of AI/ML, customer experience, and emerging risk assessment.”
Definition used: Develops, sells or operationally deploys AI/ML models, platforms or AI-driven products and services. Generic "digital transformation" or aspirational AI language does NOT qualify. Membership is extracted from each company’s newest annual report; every quote is validated against the report page before publishing, and core/growing tiers are confirmed by a second independent read (marked ). Companies whose reports our corpus hasn’t read yet simply aren’t listed — absence means unread, not “no exposure”.
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