C2C Advanced Systems Ltd
C2C Advanced System is a vertically integrated defense electronics solutions provider catering to the indigenously developed defense products industry in India.[1]
- Market Cap ₹ 266 Cr.
- Current Price ₹ 157
- High / Low ₹ 714 / 153
- Stock P/E 14.5
- Book Value ₹ 139
- Dividend Yield 0.00 %
- ROCE 13.5 %
- ROE 8.45 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 1.13 times its book value
- Company has delivered good profit growth of 174% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -0.47%
- Promoter holding is low: 36.5%
- Earnings include an other income of Rs.16.0 Cr.
- Company has high debtors of 602 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Aerospace & Defense Aerospace & Defense
Part of Nifty SME Emerge
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 1 | 0 | 8 | 41 | 115 | 146 | |
| 1 | 2 | 4 | 23 | 74 | 122 | |
| Operating Profit | 0 | -2 | 4 | 18 | 41 | 23 |
| OPM % | 13% | -597% | 48% | 45% | 36% | 16% |
| 0 | 0 | 0 | 0 | 2 | 16 | |
| Interest | 0 | 0 | 0 | 1 | 1 | 9 |
| Depreciation | 0 | 0 | 1 | 1 | 2 | 3 |
| Profit before tax | -0 | -2 | 3 | 17 | 41 | 27 |
| Tax % | -25% | -1% | 1% | 26% | 30% | 33% |
| -0 | -2 | 3 | 12 | 29 | 18 | |
| EPS in Rs | -1.09 | -21.64 | 8.73 | 10.02 | 17.33 | 10.80 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 167% |
| 3 Years: | 163% |
| TTM: | 27% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 174% |
| 3 Years: | 85% |
| TTM: | -36% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -75% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 15% |
| Last Year: | 8% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.50 | 0.50 | 2 | 12 | 17 | 17 |
| Reserves | 0 | -2 | 1 | 64 | 181 | 220 |
| 2 | 6 | 10 | 1 | 46 | 54 | |
| 5 | 4 | 6 | 8 | 19 | 83 | |
| Total Liabilities | 8 | 9 | 18 | 86 | 262 | 374 |
| 1 | 1 | 4 | 4 | 14 | 13 | |
| CWIP | 3 | 3 | 0 | 0 | 26 | 27 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 4 | 5 | 15 | 82 | 223 | 334 | |
| Total Assets | 8 | 9 | 18 | 86 | 262 | 374 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 2 | -4 | -5 | -35 | -115 | -18 | |
| -3 | -0 | -0 | -1 | -28 | -2 | |
| 1 | 4 | 5 | 52 | 129 | 20 | |
| Net Cash Flow | 0 | -0 | -0 | 15 | -14 | -1 |
| Free Cash Flow | -1 | -4 | -5 | -35 | -144 | -20 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 1,536% | 199% | -125% | -191% | -268% | -30% |
Ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 602 | 1,898 | 408 | 380 | 349 | 602 |
| Inventory Days | 487 | 112 | 949 | 248 | 422 | 304 |
| Days Payable | 26,645 | 8,198 | 2,752 | 83 | 20 | 303 |
| Cash Conversion Cycle | -25,557 | -6,188 | -1,395 | 545 | 751 | 603 |
| Working Capital Days | -1,088 | -6,393 | -87 | 495 | 524 | 509 |
| ROCE % | -65% | 35% | 39% | 26% | 14% |
Insights
In beta| Mar 2008 | Mar 2023 | Nov 2025 | |
|---|---|---|---|
| Number of Clients (cumulative) count |
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| Export Revenue Share % of revenue from operations |
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| Live Proposals / Bids in Process INR crores |
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| Number of P&L Centers / Business Units count |
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| Number of Permanent Employees count |
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| Number of Projects Delivered (cumulative) count |
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Extracted by Screener AI
Documents
Announcements
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Regulation 74(5) certificate submitted for quarter and half year ended 30 September 2026.
-
Resignation of Director/KMP/SMP
- C2C Advanced Systems Limited has informed about Resignation of Director/KMP/SMP
-
Outcome of Board Meeting
- Board noted Maya Chandra’s resignation and appointed Putta Satish Chowdhary as additional director on 08 Oct 2026.
-
Shareholders meeting
- 09th AGM resolutions passed, including director appointments, statutory auditor replacement, and FY27 related-party transactions.
-
Shareholders meeting
- C2C held its 9th AGM on 30 September 2026, approving financials, auditor appointment, and related party transactions.
Annual reports
-
Annual Report 2026
from nse
-
Annual Report 2025
from nse
Concalls
-
Aug 2026Transcript REC
-
Nov 2025Transcript PPT
-
Nov 2025PPT
Business Profile[1][2]
C2C Advanced Systems Limited specializes in vertically integrated defense electronics solutions for air, sea, and land defense platforms. The company develops proprietary software-driven systems and sub-systems, leveraging AI/ML, big data analytics, IIOT, and embedded systems. The offerings include mission-critical defense applications, digital transformation products, and dual-use solutions for Industry 4.0.