Avance

Mumbai, India Founded: 1985 • Age: 41 yrs Listed
E-commerce business and technology consultancy services are provided.

About Avance

Avance is a publicly listed company based in Mumbai (India) founded in 1985. E-commerce business and technology consultancy services are provided. It operates on a Managed Services and Subscription Services model. The company has 8 employees. Its Indian entity Avance Technologies Limited reported revenue of β‚Ή173 Cr. Avance offers products and services including Digital Infrastructure Solutions, Embedded Device Management, Avance Hybrid Infrastructure, Cloud Integration and Management, and Data Center Management. Its focus areas include IT Services, Digital Infrastructure, Cloud Computing and Cloud Integration. Its competitors include Happiest Minds and Datamatics; 2 of its 2 listed competitors have raised funding.

Company details

Avance Technologies Limited is recognized as a pioneering force in digital infrastructure and systems administration. Comprehensive solutions are offered for cloud infrastructure, IT operations, and AI-powered enterprise systems. Services are extended across sectors like healthcare, finance, manufacturing, and hospitality. Scalable and secure solutions are delivered to enhance connectivity, performance, and reliability. Innovation is prioritized to ensure optimal business growth and efficiency for clients globally.

  • Headquarters Mumbai, India
  • Employees 8
  • Stage Public
  • Sectors
    Technology
  • Email
    β€’β€’β€’β€’β€’β€’β€’β€’
  • Phone
    β€’β€’β€’β€’ β€’β€’β€’β€’
  • Website avance.in
  • Social LinkedIn Facebook
  • Legal Name Avance Technologies Limited
Operational Areas
Key Metrics
  • Market Cap
    ₹127 Cr

    AVANCE · NSE

  • Share Price
    ₹0.60

    0.00% today

  • Revenue
    ₹159 Cr

    FY 2025-26 · -7.3% YoY

  • EBITDA
    −₹0.51 Cr

    Margin -0.3%

  • Net Profit
    ₹13.24 Cr

    FY 2025-26 · +149.3% YoY

  • P/E (TTM)
    9.2x

    P/B 0.3x

  • ROE
    2.9%

    ROCE 2.4%

  • Debt / Equity
    0.28

    Interest cover -15.7x

  • Employee Count
    8

Products & Services of Avance

Avance offers a comprehensive portfolio of products and services, including Digital Infrastructure Solutions, Embedded Device Management, Avance Hybrid Infrastructure, Cloud Integration and Management, and Data Center Management.

Digital Infrastructure Solutions
Digital Infrastructure

Solutions are provided for seamless connectivity and reliable performance.

Embedded Device Management
Device Management

Management solutions are offered for optimizing embedded device performance.

Avance Hybrid Infrastructure
Hybrid Infrastructure

Flexible deployment options are provided for efficient IT management.

Cloud Integration and Management
Cloud Services

Cloud solutions are delivered for enhanced productivity and flexibility.

Data Center Management
Data Center Solutions

Operations are streamlined with advanced data center management solutions.

IoT Infrastructure Management
IoT Solutions

IoT ecosystems are managed for connectivity and optimized performance.

Board of directors of Avance Technologies Limited (Avance)

Avance Technologies Limited is the primary company behind Avance. The board of Avance Technologies Limited currently have 8 directors; the longest-serving is Vasant Tukaram Bhoir, appointed in 2016. 15 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Vasant Tukaram Bhoir
DIN 07596882
Director01 Oct 201610 yrsAvance Technologies Limited
Akshay Vijay Nawale
DIN 07597069
Director06 Sep 20179 yrs 1 moAvance Technologies Limited
Shakila Ramjansha Makandar
DIN 06513263
Director23 Oct 20188 yrsAvance Technologies Limited
Sanjay Atmaram Devlekar
DIN 07847440
Director05 Sep 20197 yrs 1 moAvance Technologies Limited
Deepak Yallappa Mane
DIN 07984967
Director30 Sep 20197 yrsAvance Technologies Limited
Latesh Sukumar Kumar Poojary
DIN 10414863
Managing Director02 Jul 20251 yr 3 moAvance Technologies Limited
Santosh Babarao Hambare
DIN 11523270
Managing Director30 Jun 20263 moAvance Technologies Limited
Dipak Sambhaji Gaikwad
DIN 11797117
Additional Director30 Jun 20263 moAvance Technologies Limited

IPO & Listings of Avance

Avance is a publicly listed company on the BSE with ticker symbol AVANCE in India, operating in the Technology services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date05 Jul 2002
  • Listed onBSE: 512149
  • Listed entityAvance Technologies Limited
  • Exchange sectorTechnology services
  • ISININE758A01072
  • Share price₹1.00 · 2026-05-11
  • Market capitalisation₹198 Cr
  • Price to earnings131.6
  • EPS (diluted, trailing year)₹0.01
  • Volume (last session)3,399,783
  • Analyst consensusNo rating

Financials of Avance

Exchange-reported figures of Avance Technologies Limited, the listed company behind Avance (NSE: AVANCE).

Financial Highlights

FY 2025-26 Β· Consolidated
Revenue
₹159 Cr
-7.3% YoY
EBITDA
−₹0.51 Cr
-109.9% YoY
Profit After Tax
₹13.24 Cr
+149.3% YoY
Net Worth
₹394 Cr
+3.5% YoY
Total Assets
₹558 Cr
+27.8% YoY
Total Debt
₹164 Cr
+194.1% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2017-18FY 2016-17FY 2015-16
Income statement
Revenue15917214430.5329.2289.92102
Revenue growth-7.3%+19.0%+372.6%--67.5%-11.5%-
EBITDA(0.51)5.172.500.480.160.20(1.22)
EBITDA margin-0.3%+3.0%+1.7%+1.6%+0.6%+0.2%-1.2%
Profit before tax13.257.355.030.490.160.21(1.08)
Net profit13.245.314.880.390.120.200.12
Net profit margin+8.3%+3.1%+3.4%+1.3%+0.4%+0.2%+0.1%
EPS (β‚Ή)0.670.270.250.020.010.000.00
Balance sheet
Total assets558437376371537387386
Net worth394381376371387387386
Total debt16455.780.000.001500.000.00
Cash & bank48.9820.5114.800.060.050.360.11
Net working capital11122.86(66.40)(55.51)120(33.26)(27.92)
Cash flow
Cash from operations(137)(67.62)30.506.160.05(1.34)27.65
Cash from investing57.4817.5625.877.36(150)1.58(27.89)
Cash from financing10855.77(41.62)(13.51)1500.000.00
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue60.6530.9449.5041.4037.4248.3132.3844.21
Revenue growth (YoY)+62.1%-36.0%+52.9%-6.4%-20.2%---
Other income0.9410.980.940.970.952.010.190.00
EBITDA1.53(0.54)1.12(1.73)0.67(1.85)1.572.73
EBITDA margin+2.5%-1.7%+2.3%-4.2%+1.8%-3.8%+4.8%+6.2%
Depreciation0.00(0.01)0.010.010.000.000.000.00
Interest0.000.070.040.010.000.010.020.00
Profit before tax2.4710.382.01(0.78)1.620.151.742.73
Tax0.000.010.000.000.001.510.000.00
Net profit2.4710.372.01(0.78)1.62(1.36)1.742.73
EPS (β‚Ή)0.010.050.010.000.01(0.01)0.010.01
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue10157.9369.2930.5311.520.040.30
Revenue growth+74.5%-16.4%+127.0%+165.0%--86.7%-
EBITDA(0.58)1.04(0.31)0.48(0.63)(27.69)(50.65)
EBITDA margin-0.6%+1.8%-0.5%+1.6%-5.5%--
Profit before tax13.233.222.220.49(0.61)(27.56)(50.62)
Net profit12.602.082.070.39(0.61)0.030.02
Net profit margin+12.5%+3.6%+3.0%+1.3%-5.3%+75.0%+6.7%
EPS (β‚Ή)0.640.100.100.02(0.03)(1.39)(2.55)
Balance sheet
Total assets388375373371371270443
Net worth388375373371371270297
Total debt0.000.000.000.000.000.00146
Cash & bank0.230.360.070.060.040.260.06
Net working capital(30.31)(52.14)(47.59)(55.51)(49.77)(30.27)137
Cash flow
Cash from operations(76.57)(6.18)(5.85)6.1618.6722.18(3.16)
Cash from investing76.446.4734.657.36(81.05)2.273.18
Cash from financing0.000.00(28.78)(13.51)62.17(24.26)0.00
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue17.8925.2125.5025.1625.2113.2120.1720.32
Revenue growth (YoY)-29.0%+90.8%+26.4%+23.8%+496.0%---
Other income0.9410.980.940.940.941.990.190.00
Total expenses18.5525.3025.5425.2225.6114.9320.2518.38
EBITDA(0.66)(0.09)(0.04)(0.06)(0.40)(1.72)(0.08)1.94
EBITDA margin-3.7%-0.4%-0.2%-0.2%-1.6%-13.0%-0.4%+9.5%
Depreciation0.00(0.01)0.010.010.000.000.000.00
Interest0.000.000.000.000.000.050.000.00
Profit before tax0.2810.900.890.870.540.220.111.94
Tax0.000.630.000.000.000.610.000.00

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 25 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue60.6530.9449.5041.4037.4248.3132.3844.21
Revenue growth (YoY)+62.1%-36.0%+52.9%-6.4%-20.2%---
Other income0.9410.980.940.970.952.010.190.00
EBITDA1.53(0.54)1.12(1.73)0.67(1.85)1.572.73
EBITDA margin+2.5%-1.7%+2.3%-4.2%+1.8%-3.8%+4.8%+6.2%
Depreciation0.00(0.01)0.010.010.000.000.000.00
Interest0.000.070.040.010.000.010.020.00
Profit before tax2.4710.382.01(0.78)1.620.151.742.73
Tax0.000.010.000.000.001.510.000.00
Net profit2.4710.372.01(0.78)1.62(1.36)1.742.73
EPS (β‚Ή)0.010.050.010.000.01(0.01)0.010.01
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2017-18FY 2016-17FY 2015-16
Revenue15917214430.5329.2289.92102
Revenue growth-7.3%+19.0%+372.6%--67.5%-11.5%-
Other income13.842.202.530.010.050.010.14
Total expenses16016714230.0529.0689.72103
Employee cost0.150.140.090.110.060.090.10
EBITDA(0.51)5.172.500.480.160.20(1.22)
EBITDA margin-0.3%+3.0%+1.7%+1.6%+0.6%+0.2%-1.2%
Depreciation0.000.000.000.000.000.000.00
Interest0.080.020.000.000.050.000.00
Profit before tax13.257.355.030.490.160.21(1.08)
Tax0.012.040.150.100.050.000.00
Net profit13.245.314.880.390.120.200.12
Net profit margin+8.3%+3.1%+3.4%+1.3%+0.4%+0.2%+0.1%
EPS (β‚Ή)0.670.270.250.020.010.000.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2017-18FY 2016-17FY 2015-16
Equity & liabilities
Share capital198198198198198198198
Reserves & surplus196183178173189188188
Shareholders' funds (net worth)394381376371387387386
Minority interest0.000.000.000.000.000.000.00
Secured loans0.000.000.000.001500.000.00
Unsecured loans16455.780.000.000.000.000.00
Total debt16455.780.000.001500.000.00
Total liabilities558437376371537387386
Assets
Gross block0.010.000.000.000.000.000.00
Net block0.010.000.000.000.000.000.00
Capital work in progress0.000.000.000.000.000.000.00
Investments191235250276223222224
Inventories90.8035.6319.556.5920.3521.0719.78
Sundry debtors42.1310.7512.141.1511.036.889.56
Cash & bank balances48.9820.5114.800.060.050.360.11
Loans & advances19.9219.270.120.121500.160.27
Total current assets20286.1646.617.9218228.4729.72
Total current liabilities90.8063.3011363.4361.6961.7357.64
Net working capital11122.86(66.40)(55.51)120(33.26)(27.92)
Total assets558437376371537387386
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2017-18FY 2016-17FY 2015-16
Opening cash20.5114.800.060.040.360.110.35
Net cash from operating activities(137)(67.62)30.506.160.05(1.34)27.65
Net cash from investing activities57.4817.5625.877.36(150)1.58(27.89)
Net cash from financing activities10855.77(41.62)(13.51)1500.000.00
Net change in cash28.475.7114.740.01(0.31)0.24(0.24)
Closing cash48.9820.5114.800.060.050.360.11
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2017-18FY 2016-17FY 2015-16
Growth
Sales growth-7.3%+19.0%+372.6%--67.5%-11.5%-
EBITDA growth-109.9%+106.8%+420.8%--20.0%+116.4%-
PBT growth+80.3%+46.1%+926.5%+206.3%-23.8%+9998.0%+9997.0%
Net income growth+149.3%+8.8%+1151.3%--40.0%+66.7%-
Revenue CAGR (3Y)+73.4%+80.5%+17.1%-33.0%---
EBITDA CAGR (3Y)-+218.5%+132.1%----
Profitability & leverage
Net income margin+8.3%+3.1%+3.4%+1.3%+0.4%+0.2%-1.1%
Return on capital employed+2.4%+1.5%+1.1%+0.1%+0.1%+0.1%0.0%
Return on net worth+2.9%+1.2%+1.1%+0.1%+0.0%+0.1%0.0%
Debt / equity0.280.070.000.000.190.000.00
Long-term debt / equity0.260.070.000.000.000.000.00
Interest cover-15.690.390.000.0031.250.000.00
Efficiency & per share
Fixed asset turnover31,852.000.000.000.000.000.000.00
Inventory turnover2.526.2311.044.631.414.405.14
Debtors turnover6.0215.0121.7126.553.2610.9410.63
EPS (β‚Ή)0.670.270.250.020.010.000.00
Dividend per share (β‚Ή)0.000.000.000.000.000.000.00
Book value per share (β‚Ή)19.8919.2218.9818.7319.511.951.95
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue17.8925.2125.5025.1625.2113.2120.1720.32
Revenue growth (YoY)-29.0%+90.8%+26.4%+23.8%+496.0%---
Other income0.9410.980.940.940.941.990.190.00
Total expenses18.5525.3025.5425.2225.6114.9320.2518.38
EBITDA(0.66)(0.09)(0.04)(0.06)(0.40)(1.72)(0.08)1.94
EBITDA margin-3.7%-0.4%-0.2%-0.2%-1.6%-13.0%-0.4%+9.5%
Depreciation0.00(0.01)0.010.010.000.000.000.00
Interest0.000.000.000.000.000.050.000.00
Profit before tax0.2810.900.890.870.540.220.111.94
Tax0.000.630.000.000.000.610.000.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue10157.9369.2930.5311.520.040.30
Revenue growth+74.5%-16.4%+127.0%+165.0%--86.7%-
Other income13.812.182.530.010.020.130.03
Total expenses10256.8969.6030.0512.1527.7350.95
Employee cost0.080.110.080.110.060.020.05
EBITDA(0.58)1.04(0.31)0.48(0.63)(27.69)(50.65)
EBITDA margin-0.6%+1.8%-0.5%+1.6%-5.5%--
Depreciation0.000.000.000.000.000.000.00
Interest0.000.000.000.000.000.000.00
Profit before tax13.233.222.220.49(0.61)(27.56)(50.62)
Tax0.631.140.150.100.000.000.00
Net profit12.602.082.070.39(0.61)0.030.02
Net profit margin+12.5%+3.6%+3.0%+1.3%-5.3%+75.0%+6.7%
EPS (β‚Ή)0.640.100.100.02(0.03)(1.39)(2.55)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital198198198198198198198
Reserves & surplus19017717517317371.4699.03
Shareholders' funds (net worth)388375373371371270297
Secured loans0.000.000.000.000.000.00146
Unsecured loans0.000.000.000.000.000.000.00
Total debt0.000.000.000.000.000.00146
Total liabilities388375373371371270443
Assets
Gross block0.010.000.000.000.000.000.00
Net block0.010.000.000.000.000.000.00
Capital work in progress0.000.000.000.000.000.000.00
Investments162235242276284202205
Inventories0.000.000.006.593.780.0019.99
Sundry debtors31.797.847.921.152.400.003.05
Cash & bank balances0.230.360.070.060.040.260.06
Loans & advances0.370.250.120.120.120.10146
Total current assets32.398.458.117.926.340.36169
Total current liabilities62.7060.5955.7063.4356.1130.6331.39
Net working capital(30.31)(52.14)(47.59)(55.51)(49.77)(30.27)137
Total assets388375373371371270443
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash0.360.070.060.040.260.060.03
Net cash from operating activities(76.57)(6.18)(5.85)6.1618.6722.18(3.16)
Net cash from investing activities76.446.4734.657.36(81.05)2.273.18
Net cash from financing activities0.000.00(28.78)(13.51)62.17(24.26)0.00
Net change in cash(0.13)0.280.020.01(0.21)0.200.02
Closing cash0.230.360.070.060.040.260.06
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+74.5%-16.4%+127.0%+165.0%--86.7%-
EBITDA growth-155.8%+435.5%-164.6%+176.2%+97.7%+45.3%-
PBT growth+310.9%+45.1%+353.1%+9998.0%+97.8%+45.6%-
Net income growth+505.8%+0.5%+430.8%+163.9%-2133.3%+50.0%-
Revenue CAGR (3Y)+49.0%+71.3%+1101.0%+366.9%+50.2%-88.9%-85.1%
EBITDA CAGR (3Y)---77.6%-+84.7%--
Profitability & leverage
Net income margin+12.5%+3.6%+3.0%+1.3%-5.3%--
Return on capital employed+2.9%+0.7%+0.5%+0.1%0.0%0.0%0.0%
Return on net worth+2.8%+0.5%+0.5%+0.1%0.0%0.0%0.0%
Debt / equity0.000.000.000.000.000.260.43
Long-term debt / equity0.000.000.000.000.000.000.00
Interest cover0.000.000.000.000.000.000.00
Efficiency & per share
Fixed asset turnover20,216.000.000.000.000.000.000.00
Inventory turnover0.000.0021.035.896.100.000.02
Debtors turnover5.107.3515.2817.209.600.030.09
EPS (β‚Ή)0.640.100.100.02(0.03)(1.39)(2.55)
Dividend per share (β‚Ή)0.000.000.000.000.000.000.00
Book value per share (β‚Ή)19.5818.9418.8418.7318.7113.6115.00

Competitors of Avance

Avance has 2 listed competitors in our database, 2 of them funded. They include Happiest Minds and Datamatics.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
happiestminds.com2011Bengaluru, India$64.83M4,517
IT outsourcing services are delivered across multiple business lines.
datamatics.com1975Mumbai, India$3M5,875
Cloud-based text analytics and cognitive automation services are provided.
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Web traffic of Avance

The website of Avance (avance.in) receives about 4K visits a month.

  • Monthly visits
    4K

    ▼ 62.9% vs previous month

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Frequently Asked Questions about Avance

Avance was founded in 1985.

Avance is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.

Avance has 8 employees.

The primary company behind Avance, Avance Technologies Limited, reported revenue of β‚Ή173 Cr for FY 2026, down 7% year on year.

Avance Technologies Limited is recognized as a pioneering force in digital infrastructure and systems administration. Comprehensive solutions are offered for cloud infrastructure, IT operations, and AI-powered enterprise systems. Services are extended across sectors like healthcare, finance, manufacturing, and hospitality. Scalable and secure solutions are delivered to enhance connectivity, performance, and reliability. Innovation is prioritized to ensure optimal business growth and efficiency for clients globally.

Avance's top competitors include Happiest Minds and Datamatics.

Avance offers Digital Infrastructure Solutions, Embedded Device Management, Avance Hybrid Infrastructure, Cloud Integration and Management, and 2 more products and services.

Yes, Avance is publicly traded on BSE under the ticker symbol AVANCE.

Avance operates through Avance Technologies Limited.

The legal entities of Avance currently have 9 directors, including Vasant Tukaram Bhoir, Sanjay Atmaram Devlekar, Akshay Vijay Nawale and others.

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