C2C

C2C Advanced Systems Limited

Listed company · ISIN INE0U7V01015 · NSE SM · FV ₹10
Last price
₹189
-9.63%today
What this company does

C2C Advanced Systems Limited is a listed company. It booked ₹80 cr of revenue in its latest half year (H2 FY26) and kept -6.7% of sales as profit.

31out of 100
Equitytale Health Score
Strained

Healthier than 31% of listed companies we score, on the 5 of 6 measures we could read for it. Each measure is ranked against the 609–2,885 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
51

At close. Not part of the score.

Profitability & returns12

How much profit it earns on the money it employs

Balance sheet46

How much it owes, and whether earnings cover the interest

Cash quality17

Whether reported profit actually arrives as cash

Valuation18

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
✓ Sales up 11% vs last year
✓ No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -6.7% net margin
! Low -4.5% return on equity

What if I invest in C2C?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest half year + price
₹189▼ -9.63%
latest close · 2026-10-01
52-wk low ₹15552 sessions so far52-wk high ₹315
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio1.36Moderate
Below bookModerateHigh
EV / EBITDA22.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-4.5%Loss
WeakFairStrong ▸15%
Return on capital5.2%Weak
WeakFairStrong
Net margin-6.7%Loss
ThinDecentStrong
EBITDA margin10.0%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.19Comfortable
LowModerateHigh ▸1
Interest cover0.8×Risky
RiskyOkayStrong ▸5×
Current ratio2.58Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹321 cr
Book value
₹139
EPS
₹-3.29
latest half year
Net debt
₹44 cr
owes more than its cash
Enterprise value
₹365 cr
EBITDA
₹16 cr
annualised
EBIT
₹13 cr
annualised
Operating margin
8.1%
Return on assets
-2.8%
Earnings yield
—
P/S
2.02
Sales / share
₹93.8
Tax rate
—
Face value
₹10
Shares
1.7 cr
Working capital
₹204 cr
Current assets
₹333 cr
Current liabilities
₹129 cr
Delivery %
64.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest half year; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-10-01.

Worth vs price · from the exchange filings
not investment advice
Looks overpricedMedium confidence
Median of 3 models ₹100 vs market price ₹189 — price is 89% above it
Safety cushion-89.2%(target ≥ +20%)
Models span ₹77–₹184, midpoint ₹100
Model ₹100
Price ₹189
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · H2 FY26 (consolidated)
Revenue from Operations₹80 cr
Other Income₹14 cr
Total Income₹94 cr
Cost of Materials₹60 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-5 cr
Employee Benefit Expense₹7 cr
Finance Costs₹8 cr
Depreciation & Amortisation₹2 cr
Other Expenses₹24 cr
Total Expenses₹96 cr
Profit before Tax₹-2 cr
Tax Expense₹4 cr
Net Profit₹-5 cr
Net margin on total income-5.7%
Where the money goes · H2 FY26
% of total spend
Materials + stock-in-trade₹55 cr55.2%
Employee benefit expense₹7 cr7.3%
Finance costs₹8 cr8.3%
Depreciation & amortisation₹2 cr1.6%
Other expenses₹24 cr24.1%
Tax expense₹4 cr3.6%
Total income ₹94 cr

The company made a net loss of ₹5 cr this half year — income covered only ₹95 of every ₹100 it spent on costs and tax.

Half-yearly results · consolidated (₹ cr)
MetricH2 FY25H1 FY26H2 FY26
Revenue72 cr66 cr80 cr
Total income74 cr68 cr94 cr
Expenses46 cr39 cr96 cr
Profit before tax28 cr29 cr-2 cr
Tax9 cr6 cr4 cr
Net profit (owners' share)19 cr24 cr-5 cr
Net margin (owners' share, on revenue)26.6%35.8%-6.7%
EPS (₹)12.6414.21-3.29
YoY (latest quarter): total income +26.4% · net profit —
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹374 cr
Shareholder equity
₹236 cr
parent shareholders
Total debt
₹45 cr
Cash
₹93.2 L
Who owns it · 2026-03-31
No pledge
Promoter
37.0%
FII / Foreign
3.2%
DII / Domestic
0.1%
Retail / others
59.7%
Promoter stake down 3.8% over the last 4 quarters.
Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 27 named members
owning 37.0% between them · as of 2026-03-31
P V R Multimedia Pvt Ltd18.49%
C2c Innovations Private Limited12.38%
Kuriyedath Ramesh2.95%
L S S Narendra2.95%
Maya Chandra0.17%
Lakshmi Chandra0.04%
Bhujang Innovations Private Limitedno shares
C2C Innovations Singapore PTE Limitedno shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it
1 fundraise spent differently than promised

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

Money raised in Oct 2025 by selling shares to selected investors
⚑ company reported a change of plan

As of Mar 2026, the company says it has spent 64% of what it set aside.

“The shareholders approved preferential issue of Rs. 143,46,58,071/- but allotment was done for Rs. 21,61,85,161.5/-”the company’s own explanation, as filed
The proceeds of the preferential issue will be utilized for the following purposes: a) Funding of Capital Expenditure b) Funding of long term Working Capital c) General Corporate Purpose
now filed as: General Corporate Purpose
64%
of what was set aside

The amount this filing states as raised is many times the whole company’s market value, so it is almost certainly entered in the wrong unit. We show the purposes and how far along each one is, and leave the rupee figures out rather than repeat a number that cannot be right.

₹99 cr raised in Dec 2024 by selling shares to the public

As of Mar 2025, the company says it has spent 89% of what it set aside, leaving ₹11 cr still to be spent. ICRA LIMITED watches the spending on the exchange’s behalf.

Funding of capital expenditure towards purchase of fixed assests
100%
₹19 cr of ₹19 cr
Funding working capital requirements of our Company
100%
₹46 cr of ₹46 cr
Towards security deposit
100%
₹2 cr of ₹2 cr
General corporate purposes
60%
₹15 cr of ₹25 cr
Issue Related Expenses
90%
₹7 cr of ₹8 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.