BSE: 512149 | NSE: | IT - Software | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Avance Technologies Ltd is a below average quality company.
The key valuation ratios of Avance Technologies Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Avance Technologies Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -0.3% | -0.3% | 0.1% | 0% | 0.1% | -10.4% | -7.7% | -0.2% | 0.1% | 0.6% | - |
| Value Creation Index ⓘ | -1.0 | -1.0 | -1.0 | -1.0 | -1.0 | -1.7 | -1.6 | -1.0 | -1.0 | -1.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 107 | 102 | 89.9 | 29.2 | 3.4 | 0.3 | 0 | 11.5 | 30.5 | 69.3 | 75 |
| Sales YoY Gr. | - | -4.6% | -11.5% | -67.5% | -88.4% | -91.2% | -86.7% | 28,700% | 165% | 127% | - |
| Adj EPS ⓘ | 0 | 0 | 0 | 0 | 0 | -0.2 | -0.1 | 0 | 0 | 0 | 0 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 2 | 2 | 2 | 2 | 2 | 1.5 | 1.4 | 1.9 | 0.9 | 1.9 | 1.9 |
| Adj Net Profit ⓘ | -0.2 | -0.3 | 0.2 | 0 | 0.6 | -44.5 | -27.5 | -0.6 | 0.4 | 0.3 | 4 |
| Cash Flow from Ops. ⓘ | 15.7 | 27.7 | 20.2 | 0 | -15.9 | -3.2 | 22.2 | 18.7 | 6.2 | -5.9 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 51739.5 | -9.2 | -46.2 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -4.7% | 82.7% | 1101% | 127% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | -0.5% | -0.7% | 11.4% | 100% | ||||
| Share Price | 13.2% | 115.5% | 165% | 63.2% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -0.1 | -0.1 | 0.1 | 0 | 0.1 | -13 | -9.7 | -0.2 | 0.1 | 0.1 | 1.1 |
| Op. Profit Mgn % ⓘ | -0.1 | -0 | 0.2 | 0 | -3.4 | -3 | -228 | -5.5 | 1.6 | -0.4 | 1.6 |
| Net Profit Mgn % ⓘ | -0.2 | -0.3 | 0.2 | 0 | 16.4 | -14862.9 | -64081.5 | -5.4 | 1.3 | 0.5 | 5.3 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0.4 | 0.4 | 0.5 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 958 | 866 | 861 | 3,486 | 34,274 | 3,37,428 | 15,62,903 | 3,819 | 1,804 | 911 | 76 |
| Cash Conv. Cycle ⓘ | -149 | -123 | -120 | -416 | -3,039 | -29,777 | -4,04,718 | -895 | -578 | -302 | -17 |
Return on Equity has increased versus last 3 years average to 1.10%
Sales growth is growing at healthy rate in last 3 years 1100.98%
Sales growth is good in last 4 quarters at 2026.07%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0 | 0.1 |
| TTM Sales (₹ Cr.) | 75.2 | 216 |
| BVPS (₹.) ⓘ | 1.9 | 1.9 |
| Reserves (₹ Cr.) ⓘ | 176 | 180 |
| P/BV ⓘ | 0.50 | 0.50 |
| PE ⓘ | 53.01 | 21.08 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.57 / 1.71 |
| All Time Low / High (₹) | 0.02 / 12.44 |
| Market Cap (₹ Cr.) | 188 |
| Equity (₹ Cr.) | 198.2 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 34.6 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 107 | 102 | 90 | 29 | 3 | 0 | 0 | 12 | 31 | 69 |
| Operating Expenses ⓘ | 109 | 102 | 90 | 29 | 4 | 0 | 0 | 12 | 30 | 70 |
| Manufacturing Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Material Costs | 106 | 101 | 90 | 29 | 3 | 0 | 0 | 12 | 30 | 69 |
| Employee Cost | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Costs ⓘ | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit ⓘ | -2 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | 0 | 0 |
| Operating Profit Margin (%) | -2.0% | 0.0% | 0.2% | 0.0% | -3.4% | -3.0% | -474.0% | -5.5% | 1.6% | -0.4% |
| Other Income ⓘ | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 3 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Items ⓘ | 0 | -1 | 0 | 0 | 0 | -51 | -27 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -1 | -1 | 0 | 0 | 1 | -51 | -28 | -1 | 1 | 2 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -1 | -1 | 0 | 0 | 1 | -51 | -28 | -1 | 0 | 2 |
| PAT Margin (%) | -1.0% | -1.1% | 0.2% | 0.0% | 16.4% | -16,894.4% | -64,254.1% | -5.3% | 1.3% | 3.0% |
| Adjusted EPS (₹) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | -0.3 | -0.1 | 0.0 | 0.0 | 0.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 388 | 386 | 387 | 387 | 387 | 297 | 270 | 371 | 371 | 373 |
| Share Capital ⓘ | 198 | 198 | 198 | 198 | 198 | 198 | 198 | 198 | 198 | 198 |
| Reserves ⓘ | 189 | 188 | 188 | 188 | 189 | 99 | 71 | 173 | 173 | 175 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 0 | 0 | 150 | 146 | 146 | 0 | 0 | 0 | 0 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 0 | 0 | 0 | 150 | 146 | 146 | 0 | 0 | 0 | 0 |
| Trade Payables | 72 | 57 | 60 | 61 | 39 | 31 | 30 | 56 | 63 | 55 |
| Others Liabilities ⓘ | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Total Liabilities ⓘ | 460 | 444 | 448 | 598 | 572 | 475 | 300 | 427 | 435 | 429 |
Fixed Assets | ||||||||||
| Gross Block | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Fixed Assetsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 197 | 224 | 244 | 244 | 288 | 205 | 202 | 284 | 276 | 242 |
| Inventories | 19 | 20 | 21 | 20 | 20 | 20 | 0 | 4 | 7 | 0 |
| Trade Receivables | 12 | 10 | 7 | 11 | 4 | 3 | 0 | 2 | 1 | 8 |
| Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others Assetsⓘ | 231 | 191 | 176 | 323 | 261 | 247 | 98 | 137 | 151 | 180 |
| Total Assets ⓘ | 460 | 444 | 448 | 598 | 572 | 475 | 300 | 427 | 435 | 429 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 16 | 28 | 20 | 0 | -16 | -3 | 22 | 19 | 6 | -6 |
| PBT ⓘ | -1 | 0 | 0 | 0 | 1 | -90 | -28 | -1 | 1 | 2 |
| Adjustment ⓘ | 1 | 0 | 0 | 0 | -1 | 81 | 27 | 0 | 0 | 0 |
| Changes in Working Capital ⓘ | 16 | 28 | 20 | 0 | -15 | 6 | 22 | 19 | 6 | -8 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | -19 | -28 | -20 | -150 | -39 | 3 | 2 | -81 | 7 | 35 |
| Capex | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Investments | -18 | -28 | -20 | 0 | -44 | 3 | 2 | -81 | 7 | 35 |
| Others ⓘ | -1 | 0 | 0 | -150 | 5 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 0 | 0 | 0 | 150 | 55 | 0 | -24 | 62 | -14 | -29 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 150 | 55 | 0 | -24 | 62 | -14 | -29 |
| Net Cash Flow ⓘ | -3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -0.39 | -0.28 | 0.05 | 0 | 0.14 | -14.79 | -9.73 | -0.19 | 0.11 | 0.56 |
| ROCE (%) | -0.3 | -0.28 | 0.06 | 0.01 | 0.14 | -10.37 | -7.73 | -0.19 | 0.14 | 0.6 |
| Asset Turnover Ratio | 0.23 | 0.22 | 0.2 | 0.06 | 0.01 | 0 | 0 | 0.03 | 0.07 | 0.16 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | -16 | N/A | N/A | N/A | N/A | -3 | Working Capital Days |
| Receivable Days | 65 | 39 | 33 | 112 | 785 | 4,041 | 0 | 76 | 21 | 24 |
| Inventory Days | 64 | 70 | 83 | 259 | 2,167 | 0 | 0 | 120 | 62 | 0 |
| Payable Days | 281 | 233 | 240 | 769 | 5,419 | 0 | 0 | 1,316 | 727 | 311 |
Avance Technologies, previously known as VMC Software, is a software company incorporated in January 1985, it went public in 1991.
The company started by providing global technology management services in Product Testing, Technical Communications, Management Consulting, IT Integrations & Implementations, IT Service Management, Help Desk, Technical Support, Outbound Sales and Marketing, and Channel Support.
Avance’s founders have more than 20 years experience in key aspects of development, implementation, and marketing of software solutions.Their professional experience include industry leaders such as LSI Logic, PeopleSoft (now Oracle), i2 Technologies.Their implementation experience include global leaders such as Northrop Grumman Corp., Hewlett-Packard, and Samsung. Avance Technology is building the next generation trading software that is scalable for performance and tolerant against system crashes.
Currently they have focused on connecting to Hong Kong Stock Exchange's AMS/3 system. There state-of-the-art clustering technology enables the company to sustain high availability and scalability while there proprietary multi-thread user interface technology enables them to build the most responsive user interface ever provided by a trading platform.
Products of the company include
Avance TradeServer - Avance TradeServer is a Broker Supplied System (BSS) compliant with HKEx's AMS/3 protocol. Its function is to route orders to HKEx's trading system. It has built in failover and clustering design such that multiple Open Gateways can be used for redundancy and real time failover.
Avance TradeStation - Avance TradeStation is a thick client designed for brokers and dealers to enter orders with credit management. Its state-of-the-art technologies are platform independent employing multi-thread design to enhance response time for the best user experience.
Avance TradePortal- Avance TradePortal is a thin client built with web 2.0 technologies for the best user interaction experience over the Internet. The targeted user are the Internet users who wants fast action to trade anywhere in the world over the Internet.
Avance Technologies, in 2008, set up its India development center in Hyderabad. The advantage of having a development center in India was that it can tap into the talent pools of India in the fields of Information Technology. The close proximity and small time difference of India from Hong Kong is also a factor in choosing Hyderabad as the location for this center.
The members of the company in India are seasoned engineers with expertise in the technologies that Avance uses. Together with its team in Silicon Valley, California, this development center will help Avance Technologies accelerate product development cycles. The diversified teams can also help Avance remain at the forefront of technology by knowledge transfer.
Avance Technologies established it’s headquarters in Hong Kong. Given the enormous growth potential of China and Hong Kong’s leading position as a major financial center in Asia, the choice of Hong Kong as headquarter was an obvious one. After assessing the technology landscape of Hong Kong, the founders of Avance believed that there are opportunities and needs to introduce the latest generation of technologies into Hong Kong's information technology landscape.Since information technology is indispensible for the financial industry, it was hoped that by introducing the latest and greatest technologies that have been proven elsewhere into Hong Kong, Avance Technologies can help to sustain and solidify Hong Kong's position as one of the leading financial
Future plan
Avance Technologies is building the next generation trading software that is scalable for performance and tolerant against system crashes.
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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