Antarctica Ltd (ANTGRAPHIC) AI Stock Analysis

Antarctica Ltd

(NSE:ANTGRAPHIC)

Select Model

Rating:55Neutral

Action:reiterated

Date:09/28/26

The score is held back primarily by weak cash conversion (negative operating and free cash flow) alongside increased leverage, despite a clear improvement in profitability and strong revenue growth. A relatively low P/E provides some valuation support, while technical and qualitative catalysts cannot be assessed due to missing data.

Positive Factors

Strong Revenue ExpansionThe sharp increase in revenue demonstrates substantial expansion in business scale and indicates strong demand or customer adoption during FY2026. If this higher revenue base is sustained, it can improve operating leverage, strengthen market presence, and support reinvestment in future growth.

Negative Factors

Persistently Negative Cash GenerationThe company is not converting improved accounting profits into operating or free cash flow, creating a material funding and execution risk. Continued cash outflows can constrain reinvestment, increase reliance on external financing, and weaken financial flexibility over the next several quarters.

Antarctica Ltd Business Overview & Revenue Model

Company Description

Antarctica Limited, an Indian enterprise headquartered in Kolkata, was established in 1991. The company specializes in manufacturing and selling a diverse range of paper-based packaging and printing solutions. Its packaging offerings include various...

Antarctica Ltd Financial Statement Overview

Summary

Strong FY2026 revenue growth and a swing from net loss to net income support the score, but persistently negative operating/free cash flow and a meaningful rise in debt materially increase liquidity and execution risk.

Income Statement

58Neutral

Balance Sheet

63Positive

Cash Flow

24Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	629.05M	629.05M	250.47M	8.39M	6.77M	10.32M
Gross Profit	14.17M	11.47M	13.45M	2.73M	1.86M	3.74M
EBITDA	16.73M	16.73M	8.19M	-3.04M	1.13M	1.29M
Net Income	12.26M	12.76M	-3.23M	-4.30M	-50.00K	151.00K
Balance Sheet
Total Assets	546.95M	546.95M	506.21M	192.46M	200.66M	199.49M
Cash, Cash Equivalents and Short-Term Investments	866.00K	866.00K	1.20M	3.01M	4.06M	3.02M
Total Debt	92.28M	92.28M	51.84M	28.37M	30.51M	29.04M
Total Liabilities	374.55M	374.55M	346.57M	29.58M	33.49M	32.26M
Stockholders Equity	172.40M	172.40M	159.64M	162.88M	167.17M	167.22M
Cash Flow
Free Cash Flow	-40.77M	-40.77M	-25.70M	-157.00K	-539.00K	-1.39M
Operating Cash Flow	-40.77M	-40.77M	-22.86M	402.00K	-310.00K	-2.21M
Investing Cash Flow	0	0	-2.40M	1.72M	-115.00K	2.58M
Financing Cash Flow	40.44M	40.44M	23.24M	-2.18M	1.47M	-630.00K

Antarctica Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:ANTGRAPHIC against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:BGLOBAL	55Neutral	INR 50.70M	1.51	―	―	70.50%	―
IN:ANTGRAPHIC	55Neutral	―	9.36	―	―	227.74%	-41.63%
IN:INFOMEDIA	40Underperform	INR 260.51M	-7.56	―	―	―	-12.66%
IN:RADAAN	39Underperform	INR 147.86M	-3.89	―	―	-20.82%	-119.89%
IN:ASTRON	38Underperform	INR 119.04M	-0.57	―	―	-97.10%	62.68%
IN:PNC	38Underperform	INR 270.39M	-1.85	―	―	-49.54%	-1861.57%

* General Sector Average

Performance Comparison

IN:ANTGRAPHIC and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:ASTRON	Astron Paper & Board Mill Ltd.	2.56	-7.70	-75.05%
IN:BGLOBAL	Bharatiya Global Infomedia Limited	3.20	-1.38	-30.13%
IN:INFOMEDIA	Infomedia Press Ltd.	5.19	-2.80	-35.04%
IN:PNC	Pritish Nandy Communications Limited	18.69	-10.31	-35.55%
IN:RADAAN	Radaan Mediaworks (I) Ltd.	2.73	-0.74	-21.33%

Antarctica Ltd Corporate Events

Antarctica Limited Schedules 34th AGM in Virtual Format

Sep 8, 2026

Antarctica Limited has notified the National Stock Exchange that it has published a newspaper notice convening its 34th Annual General Meeting, which will be held online on September 28, 2026 at noon. The disclosure, made under SEBI’s Listing O...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 28, 2026

Antarctica Ltd AI Stock Analysis