Bartronics India Limited (ASMS) AI Stock Analysis

Bartronics India Limited

(NSE:ASMS)

Select Model

Rating:58Neutral

Price Target:INR 6.00▲(4.71% Upside)

Action:reiterated

Date:09/06/26

The overall score of 58 is driven primarily by exceptional top-line revenue growth and highly successful balance sheet deleveraging. However, these fundamental strengths are significantly offset by persistent bearish technical trends across all major moving averages, ongoing negative free cash flow generation, and a relatively high P/E valuation.

Positive Factors

FY2026 Revenue ReboundThe sharp FY2026 revenue rebound and return to profitability show that the company can regain operating scale after weaker periods. If sustained, higher activity should improve its ability to fund operations, support customer delivery, and rebuild earnings power over the next several quarters.

Negative Factors

Weak Operating Cash ConversionWeak conversion of reported earnings into operating cash reduces the quality and durability of profitability. It can constrain internally funded investment, make working-capital management more important, and leave the company less able to absorb execution setbacks without additional funding.

Bartronics India Limited (ASMS) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 2.11B
Dividend Yield: ―
Average Volume (3M): 69.47K
Price to Earnings (P/E): 27.1
Beta (1Y): 1.69
Revenue Growth: ―
EPS Growth: ―
Country: India
Employees: 158
Sector: General
Sector Strength: 55
Industry: Information Technology Services

Bartronics India Limited Business Overview & Revenue Model

Company Description

Bartronics India Ltd. operates internationally and within India, providing specialized services in automated identification, data acquisition, and financial inclusion. The company's diverse offerings include a variety of banking support services, suc...

Bartronics India Limited Financial Statement Overview

Summary

The company executed an impressive financial turnaround with 388% revenue growth and massive debt reduction, generating a solid 17.4% return on equity. However, continued negative free cash flow conversion remains a fundamental weakness despite operating profitability.

Income Statement

78Positive

Balance Sheet

85Very Positive

Cash Flow

45Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	213.03M	1.04B	400.36M	488.38M	526.27M	655.62M
Gross Profit	34.91M	86.57M	38.43M	44.70M	59.09M	556.18M
EBITDA	24.43M	56.66M	24.55M	6.81M	1.60B	57.71M
Net Income	19.35M	59.35M	17.46M	13.83M	1.10B	-503.01M
Balance Sheet
Total Assets	347.30M	680.41M	325.55M	297.39M	278.04M	16.19B
Cash, Cash Equivalents and Short-Term Investments	14.27M	12.72M	15.78M	102.81M	39.43M	90.70M
Total Debt	1.67M	87.54M	1.83M	0	0	12.00B
Total Liabilities	50.40M	338.65M	43.05M	32.34M	23.96M	15.52B
Stockholders Equity	296.90M	341.75M	282.50M	265.05M	254.08M	664.69M
Cash Flow
Free Cash Flow	-17.36M	-4.56M	-20.17M	-5.25M	-92.95M	39.77M
Operating Cash Flow	-17.11M	12.88M	-17.38M	-4.81M	-92.93M	39.83M
Investing Cash Flow	11.14M	-102.36M	-12.79M	9.56M	5.87M	1.22M
Financing Cash Flow	-450.00K	85.70M	1.76M	-58.61M	-22.54M	89.00K

Bartronics India Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price5.73

Price Trends

50DMA6.39Negative

100DMA6.82Negative

200DMA8.05Negative

Market Momentum

MACD-0.23Negative

RSI43.29Neutral

STOCH58.59Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASMS, the sentiment is Negative. The current price of 5.73 is below the 20-day moving average (MA) of 5.75, below the 50-day MA of 6.39, and below the 200-day MA of 8.05, indicating a bearish trend. The MACD of -0.23 indicates Negative momentum. The RSI at 43.29 is Neutral, neither overbought nor oversold. The STOCH value of 58.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ASMS.

Bartronics India Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:ASMS against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:PROTEAN	72Outperform	INR 25.68B	30.98	―	1.59%	21.39%	-13.43%
IN:ASMS	58Neutral	INR 1.75B	27.05	―	―	―	―
IN:VAKRANGEE	58Neutral	INR 6.01B	60.77	―	―	-12.83%	11.07%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:ALANKIT	54Neutral	INR 1.93B	10.00	―	―	7.45%	8.72%
IN:VLEGOV	38Underperform	INR 866.53M	-35.94	―	―	-73.73%	99.90%

* General Sector Average

Performance Comparison

IN:ASMS and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:ASMS	Bartronics India Limited	5.73	-7.49	-56.66%
IN:ALANKIT	Alankit Limited	7.13	-4.86	-40.53%
IN:VAKRANGEE	Vakrangee Limited	5.55	-3.11	-35.91%
IN:VLEGOV	VL E-Governance & IT Solutions Ltd.	7.99	-15.56	-66.07%
IN:PROTEAN	Protean eGov Technologies Limited	629.75	-202.61	-24.34%

Bartronics India Limited Corporate Events

Avio Smart Market Stack Clarifies Error in June Quarter XBRL Financial Filing

Sep 15, 2026

Avio Smart Market Stack Limited has issued a clarification to the National Stock Exchange of India regarding discrepancies in its XBRL filing for standalone unaudited financial results for the quarter ended June 30, 2026. The variance arose between t...

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 06, 2026

Bartronics India Limited AI Stock Analysis