On 6 Nov 2026, AvenuesAI was priced at ₹129.25, or 12.8× trailing earnings, against an industry P/E of 25.1×, and the shares are 37% below their 52-week high. It earns ROCE of 6.5% and ROE of 6.6%, and sales and net profit grew 60% and 26% a year over 3 years. The company has almost no debt. It is a small-cap company with a market cap of ₹4,595 Cr, ranked 11th of 25 Software (Infrastructure) companies by market cap; the shares fell 30% over the past year.
- ₹134.00
- ₹134.00
- ₹126.00
- ₹134.27
- 19.1 L
Health check
- ReturnsBehind
−30.3% over a year, better than 1 of 7 peers.
- Price tagCheaper
P/E 12.8 vs industry 25.1.
- GrowthStrong
Sales +60.5%, profit +26.0% a year over 3 years.
- ProfitabilityWeak
ROCE 6.5% vs peer median 8.9%.
- Balance sheetSolid
Debt 0.09× equity, interest covered 19.3×, Piotroski 6 of 9.
- Red flags2 to check
Return on equity is low at 6.6%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹4,595 Cr
- Small cap
- P/E
- 12.8
- Industry 25.1
- Price to book
- 0.77
- Peers 5.54
- Dividend yield
- 0.00%
- ROE
- 6.6%
- Peers 9.4%
- ROCE
- 6.5%
- Peers 8.9%
- Debt to equity
- 0.09
- Debt ₹430 Cr
- EPS (TTM)
- ₹10.10
- Face value ₹10
- OPM (TTM)
- 4.0%
- Net margin 3.1%
- Sales growth
- +109.4%
- Latest quarter vs a year ago
- Profit growth
- +24.3%
- Latest quarter vs a year ago
- Price to sales
- 0.48
- EV/EBITDA 9.4
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly profit up 24.3% on a year ago.
- Quarterly sales up 109.4% on a year ago.
- P/E of 12.8 against an industry P/E of 25.1.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 6.6%.
- 37% below its 52-week high.
About AvenuesAI
AvenuesAI Limited, a payment infrastructure company, provides digital payments and lending solutions for merchants, enterprises, corporations, governments, and financial institutions in India, the United Arab Emirates, and internationally. The company offers CCAvenue, a payment gateway that enables merchants to accept payments through websites and mobile devices; BillAvenue, a unified and interoperable bill-payment layer for utility and recurring…
- Headquarters
- Gandhinagar
- Employees
- 624
- Sector
- Technology
- ISIN
- INE483S01038
- Website
- avenuesai.com
Price range
- Avg volume (3M)
- 13 L
- 1-year return
- minus 30.3%
- From 52-week high
- minus 37.0%
Peers · Software - Infrastructure
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JPLJio Platforms | 1,406.40 | minus 0.80% | 12,95,158 | 40.8 | 3.57 | 8.9% | 9.4% | 32.8% | – | – | 0.00% | minus 0.8% |
| PAYTMOne 97 Communications | 1,794.40 | plus 0.72% | 1,14,873 | 136.1 | 6.94 | 3.7% | 5.3% | 8.0% | 1.2% | – | 0.00% | plus 40.5% |
| OFSSOracle Financial Services Software | 10,215.00 | plus 0.64% | 89,010 | 25.0 | 11.57 | 43.2% | 47.4% | 51.6% | 10.4% | 13.5% | 2.64% | plus 21.9% |
| PINELABSPine Labs | 162.45 | plus 0.51% | 18,759 | 116.9 | 3.15 | 3.5% | 3.3% | 17.1% | 21.0% | – | 0.00% | minus 35.3% |
| FRACTALFractal Analytics | 808.85 | minus 0.07% | 14,043 | 38.0 | 4.07 | 10.4% | 13.6% | 16.7% | 18.4% | 12.9% | 0.00% | minus 4.5% |
| E2EE2E Networks | 487.05 | minus 4.97% | 10,007 | 86.8 | 5.54 | −0.5% | 6.9% | 70.9% | 54.8% | – | 0.00% | plus 64.6% |
| MPIMANIPALManipal Payment and Identity Solutions | 312.80 | minus 0.81% | 7,251 | 23.8 | 8.78 | 43.4% | 46.2% | 24.9% | 13.7% | 29.1% | 0.00% | minus 9.4% |
| CCAVENUEAvenuesAI | 129.25 | minus 3.74% | 4,595 | 12.8 | 0.77 | 6.5% | 6.6% | 4.0% | 60.5% | 26.0% | 0.00% | minus 30.3% |
| Median of 7 peers | – | −0.07% | 18,759 | 40.8 | 5.54 | 8.9% | 9.4% | 24.9% | 16.1% | 13.5% | 0.00% | −0.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1,280 | 1,965 | 2,381 | 2,490 | 2,680 | |
| 1,209 | 1,869 | 2,286 | 2,397 | 2,580 | |
| 71 | 96.2 | 95.5 | 92.4 | 100 | |
| 5.5% | 4.9% | 4.0% | 3.7% | 3.7% | |
| 28 | 14.5 | 18.1 | 24.1 | 30.3 | |
| 2.4 | 3.2 | 3.1 | 9.9 | 10.1 | |
| 17.7 | 18.8 | 18.5 | 21.8 | 33.6 | |
| – | – | −3.2 | −0.1 | – | |
| 78.9 | 88.8 | 88.8 | 84.7 | 86.7 | |
| 25.9% | 23.8% | 10.1% | −5.0% | 2.2% | |
| 61.3 | 66.5 | 71.9 | 79.4 | 76.2 | |
| 0.21 | 0.23 | 0.26 | 0.28 | 0.24 |
Profit & loss
- Sales CAGR 3Y
- +60.5%
- Profit CAGR 3Y
- +26.0%
- EPS CAGR 3Y
- +27.6%
- ROE
- 6.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,962 | 3,150 | 3,993 | 8,116 | |
| – | +60.5% | +26.7% | +103.3% | |
| 1,779 | 2,895 | 3,671 | 7,701 | |
| 183 | 255 | 322 | 415 | |
| 9.3% | 8.1% | 8.1% | 5.1% | |
| 14.6 | 12.4 | 50.3 | 71.9 | |
| 1.9 | 2.4 | 8.3 | 18.6 | |
| 61.6 | 66.6 | 70.4 | 76.7 | |
| 47.8 | 9.2 | 15 | −50.5 | |
| 182 | 208 | 308 | 341 | |
| 25.2% | 24.9% | 23.4% | 13.6% | |
| 140 | 158 | 225 | 279 | |
| – | +13.2% | +42.6% | +23.8% | |
| 0.45 | 0.50 | 0.75 | 0.93 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 268 | 278 | 279 | 349 | |
| 2,898 | 3,110 | 3,457 | 4,397 | |
| 8 | 83.4 | 172 | 430 | |
| 931 | 1,670 | 1,461 | 2,126 | |
| 4,104 | 5,142 | 5,369 | 7,302 | |
| 195 | 287 | 309 | 351 | |
| – | 97 | 120 | 0.6 | |
| 142 | 220 | 692 | 148 | |
| 370 | 301 | 851 | 1,365 | |
| 3,397 | 4,237 | 3,396 | 5,437 | |
| 4,104 | 5,142 | 5,369 | 7,302 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 113 | 728 | 72.1 | 537 | |
| −88.5 | −448 | −672 | −911 | |
| 36.7 | 178 | 208 | 957 | |
| 61.2 | 458 | −391 | 582 | |
| −62.7 | −292 | −376 | −341 | |
| 50.3 | 437 | −304 | 196 | |
| – | −13.3 | −13.8 | −0 |
Shareholding pattern
- Promoters27.34%
- Public72.22%
- Employee trusts0.44%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 27.34% | 72.22% | plus 0.05 | |
| 30 Jun 2026 | 27.29% | 72.27% | 0.00 | |
| 31 Mar 2026 | 27.29% | 72.27% | 0.00 | |
| 31 Dec 2025 | 27.29% | 72.27% | plus 0.02 | |
| 30 Sep 2025 | 27.27% | 72.29% | – |
Major shareholders
Filings & events
News
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