ATC Energies SystemShare price, financial results, shareholding and management
- Market cap
- ₹42 cr
- Stock P/E
- -peers 33.4
- Book value
- ₹43
- Price to book
- 0.48
- EV / operating profit
- 24.2
- Market cap to sales
- 1.36
- ROCE · FY26
- 0.6%
- ROE · FY26
- -1.7%
- ROE, 3-year average
- 18.4%
- Operating margin · FY26
- 6.8%peers 11.8%
- Sales growth, 3 years
- -2.5%
- Profit growth, 3 years
- -113.0%
- Debt to equity
- 0.22peers 0.34
- Borrowings
- ₹19.5 cr
- Interest cover
- 0.4×
- Cash from business / op. profit
- -1561%
- Debtor days
- 242
- Pledged
- 0.00%
- Promoter holding
- 72.06%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 2,011
- 52-week high / low
- ₹52 / ₹19
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
ATC Energies System share price chart
Close on 6 Nov 2026 · -0.48% on the day · Vol 15,600
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -2.1%
- 3 months
- -20.7%
- 6 months
- -36.4%
- 1 year
- -57.8%
- Since IPO
- -82.6%
- Traded a day, 20 days
- ₹0.03 cr
- Taken for delivery
- 86%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | -40% | -113% |
| 3 years, a year | -3% | - |
| Latest half, H2 FY26 | -38% | -137% |
About ATC Energies System: business, products and customers
ATC Energies System puts together lithium ion battery packs, mostly small ones for card machines and ATMs used by banks, and also for drones, electric vehicles and industrial equipment, at factories in Vasai and Noida. Its shares trade on NSE Emerge.
ATC Energies System makes lithium ion battery packs to order at two factories, in Vasai near Mumbai and in Noida, with a combined floor area of about 3,160 square metres. It began with mini batteries for point of sale terminals and ATMs used in banking, and has added small, medium and large packs for drones, electric vehicles, energy storage, UPS units, robotics and industrial machines.
The company buys 85% to 90% of its raw materials, mainly battery cells and battery management parts, from China and assembles, tests and packs them. So its costs move with imported cell prices and the rupee, and because shipments from China take long, it keeps very large stocks: the offer document gives inventory of 476 days of the six months to September 2024, which ties up cash even in good years.
Read more about the business
Sales lean on one industry and few buyers. Banking took 57% of sales in FY24 and in the six months to September 2024, and the largest single customer gave 39.42% of sales in that half. The offer document names Eveready Industries India and High Energy Batteries India, listed battery makers, as its peers, while saying neither is comparable in size.
It listed on NSE Emerge in April 2025 after raising ₹51.0 cr of fresh money at ₹118 a share, to refurbish the Noida factory, upgrade IT, repay a loan, fund working capital and general purposes during FY26.
From the red herring prospectus (March 2025) and the annual report for FY25.
Read the deeper study ↓In its favour
- It has little debt for its size: debt to equity 0.22.
- The promoters own a large part of the company: 72.06%.
To watch
- Use of the ₹51.0 cr of IPO money, which the offer document planned to spend in FY26 and not beyond FY27.
- The Noida factory refurbishment and IT upgrade named among the IPO objects.
- Whether banking customers, which gave 57% of sales, keep ordering at past levels.
- Inventory, which the offer document put at 476 days of the six months to September 2024.
- It paid no dividend in the past year.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
ATC Energies System revenue and profit growth
Half-yearly results · Profit and lossSales have fallen. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months. In the latest half, sales were lower than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
ATC Energies System half-yearly results
SME companies report every six months · ₹ crore
| H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|
| Sales | 25.09 | 22.49 | 28.82 | 12.89 | 17.85 |
| Expenses | 17.93 | 14.32 | 20.32 | 10.74 | 17.90 |
| Operating profit | 7.16 | 8.17 | 8.50 | 2.15 | -0.05 |
| OPM | 28.5% | 36.3% | 29.5% | 16.7% | -0.3% |
| Interest | 0.32 | 0.67 | 1.40 | 0.83 | 0.92 |
| Depreciation | 0.60 | 0.68 | 0.68 | 0.71 | 1.19 |
| Profit before tax | 6.51 | 6.90 | 6.73 | 0.85 | -1.89 |
| Net profit | 5.08 | 5.77 | 5.61 | 0.61 | -2.08 |
ATC Energies System profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 8.19 | 36.48 | 33.14 | 51.20 | 51.32 | 30.74 |
| Expenses | 5.05 | 21.19 | 21.65 | 36.11 | 34.64 | 28.64 |
| Operating profit | 3.14 | 15.29 | 11.49 | 15.09 | 16.68 | 2.10 |
| OPM | 38.3% | 41.9% | 34.7% | 29.5% | 32.5% | 6.8% |
| Other income | 0 | 0.04 | 0.09 | 0.31 | 0.38 | 0.50 |
| Interest | 0 | 0.33 | 0.53 | 0.63 | 2.07 | 1.75 |
| Depreciation | 0.05 | 0.66 | 1.09 | 1.24 | 1.36 | 1.90 |
| Profit before tax | 3.09 | 14.34 | 9.96 | 13.53 | 13.63 | -1.04 |
| Tax rate | 17.8% | 17.3% | 22.1% | 22.5% | 16.5% | -42.0% |
| Net profit | 2.54 | 11.86 | 7.76 | 10.49 | 11.38 | -1.48 |
| EPS ₹ | 508 | 46.51 | 30.43 | 6.53 | 7.06 | -0.72 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
A tax rate above 60% or below zero (FY26) comes from tax charged on a small or negative profit, as reported.
Earnings per share before FY22 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
ATC Energies System profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a low return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Operating margin | 38.3% | 41.9% | 34.7% | 29.5% | 32.5% | 6.8% |
| Tax rate | 17.8% | 17.3% | 22.1% | 22.5% | 16.5% | -42.0% |
| ROCE | · | 87.1% | 35.5% | 37.2% | 19.3% | 0.6% |
| ROE | · | 139.2% | 42.3% | 38.2% | 18.7% | -1.7% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
ATC Energies System debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has shrunk. It cut its borrowings last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and drew on its cash. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
ATC Energies System balance sheet
At each 31 March · ₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 0.05 | 2.55 | 2.55 | 16.07 | 20.39 | 20.39 |
| Reserves | 2.54 | 11.90 | 19.66 | 16.69 | 68.76 | 67.19 |
| Net worth | 2.59 | 14.45 | 22.21 | 32.76 | 89.15 | 87.57 |
| Borrowings | 4.82 | 11.81 | 10.59 | 10.51 | 30.53 | 19.54 |
| Other liabilities | 1.75 | 9.79 | 7.92 | 6.73 | 28.62 | 4.68 |
| Total liabilities | 9.16 | 36.05 | 40.72 | 50 | 148.30 | 111.79 |
| Fixed assets | 1.87 | 7.59 | 7.61 | 6.86 | 14.23 | 24.44 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 31.21 | 0 |
| Other assets | 7.29 | 28.46 | 33.11 | 43.14 | 102.86 | 87.35 |
| Receivables | · | · | · | · | 24.23 | 20.38 |
| Inventory | · | · | · | · | 0 | 45.53 |
| Cash | · | · | · | · | 69.44 | 10.65 |
| Trade payables | · | · | · | · | 5.47 | 3.32 |
ATC Energies System cash flow
₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | -2.88 | 1.37 | 2.64 | 2.62 | 12.86 | -32.79 |
| Cash from investing | -1.92 | -6.39 | -0.86 | -0.73 | -13.12 | -11.82 |
| Cash from financing | 4.87 | 6.66 | -1.75 | -0.71 | 62.77 | -12.84 |
| Net cash flow | 0.07 | 1.64 | 0.03 | 1.18 | 62.51 | -57.45 |
| Capital spending | · | · | · | · | 8.74 | 12.11 |
Working capital
Days
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 258 | 46 | 57 | 45 | 172 | 242 |
| Inventory days | 56 | 446 | 624 | 414 | 466 | 878 |
| Days payable | 116 | 117 | 44 | 26 | 82 | 64 |
| Cash conversion cycle | 198 | 375 | 637 | 433 | 556 | 1,056 |
| Working capital days | 234 | 115 | 203 | 198 | 170 | 662 |
ATC Energies System peers and competitors
Listed SME companies in the same industryBy sales, ATC Energies System is number 31 of the 34 listed SME companies in electrical equipment.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Vijaypd Ceutical | 162 | 32.5 | 100 | 5 | 4.7% | 0.70 |
| Akanksha Power and Infrastructure | 368 | 62.9 | 91.6 | 5.9 | 12.4% | 2.06 |
| Avana Electrosystems | 401 | 34.2 | 83.9 | 11.7 | 19.5% | 0.01 |
| Sungarner Energies | 74 | 19.3 | 74.2 | 3.8 | 11.1% | 1.81 |
| Accord Transformer & Switchgear | 232 | 51.5 | 70.1 | 4.5 | 10.0% | 0.18 |
| Jigar Cables | 59 | 32.5 | 57.9 | 1.8 | 5.8% | 0.39 |
| Vdeal System | 53 | 12.8 | 45.1 | 4.2 | 17.0% | 0.69 |
| ATC Energies System | 42 | - | 30.7 | -1.5 | 6.8% | 0.22 |
| Vans Electroengineerings | 327 | 60.6 | 22.8 | 5.4 | 31.6% | 0.28 |
| Electro Force (India) | 41 | 65.2 | 19.2 | 0.6 | -4.1% | 0.00 |
| Perfect Infraengineers | 3 | 3.7 | 5.9 | 0.8 | 23.2% | 0.24 |
| Median of the 10 others | 118 | 33.4 | 64 | 4.3 | 11.8% | 0.34 |
ATC Energies System shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders is about the same.
ATC Energies System shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Mar 25 | Apr 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|
| Promoters | 72.06% | 72.06% | 72.06% | 72.06% |
| Foreign investors (FIIs) | 6.29% | 6.29% | - | - |
| Indian institutions (DIIs) | 1.65% | 1.65% | 2.75% | 1.80% |
| HNIs (over ₹2 lakh each) | 3.22% | 3.22% | 4.31% | 5.40% |
| Small holders (up to ₹2 lakh) | 14.42% | 14.42% | 19.55% | 19.60% |
| Companies and others | 2.36% | 2.36% | 1.33% | 1.14% |
| Number of shareholders | 1,967 | 1,967 | 2,119 | 2,011 |
The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.
ATC Energies System study: the business from its own documents
Read from 3 of the company's own documentsATC Energies System so far
From the company's own record
- 2 April 2025Listed on NSE Emerge at ₹118
- 31 March 2026Promoters at 72.06%
- 29 April 2025Highest close since listing, ₹87.15
ATC Energies System key facts from the filings
Each figure with the document it comes from
- Banking share
- 57%
- Share of sales from mini batteries for bank card machines and ATMs in FY24 and in April to September 2024.Red herring prospectus, p.150
- Largest customer
- 39.42%
- Share of April to September 2024 sales from one customer, against 43.29% in FY24 and 69.88% in FY22.Red herring prospectus, p.151
- Top customers
- 94.75%
- Share of April to September 2024 sales from its top customers listed in the offer document.Red herring prospectus, p.151
- Imported materials
- 85% to 90%
- Share of raw materials, mainly cells, bought from China; the rest is sourced in India.Red herring prospectus, p.139 and p.140
- Inventory days
- 476 days
- Stock held at September 2024, against 325 days in FY24, kept high because imports take long.Red herring prospectus, p.149
Show 5 more facts
- Electric vehicle sales
- 17% → 1%
- Share of sales from EV batteries in FY24 against April to September 2024; drones rose to 11%.Red herring prospectus, p.150
- Exports
- 12%
- Share of FY24 sales sold abroad, its first export year; none in April to September 2024.Red herring prospectus, p.150
- IPO money
- ₹51.0 cr
- Fresh money raised at ₹118 a share in March 2025, to be used in FY26 and not beyond FY27.Annual report FY25, p.31; Red herring prospectus, p.89
- IPO money used
- Nil
- None of the stated objects had been spent on at March 2025; only issue expenses of ₹6.0 cr were paid.Annual report FY25, p.32
- People
- 81
- Employees at February 2025, 31 in production and two in research and quality; attrition was 21.95% in FY24.Red herring prospectus, p.153
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The offer document said the IPO money would be spent in FY26, and in any case not beyond FY27: ₹6.7 cr to refurbish and upgrade the Noida factory, ₹7.5 cr on IT, ₹9.5 cr to repay a Kotak Mahindra Bank loan, ₹9.5 cr for working capital and the rest for general purposes. At March 2025 none of it had been used. In the FY25 annual report the Chairman said the focus would be on scaling manufacturing, working more closely with vehicle makers and new customised products. No sales or profit guidance is given.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
ATC Energies System earns money assembling imported lithium cells into battery packs made to order, mostly small packs for bank card machines and ATMs.
Its weak spots are one industry and a few customers carrying most sales, dependence on cells from China, and very large stocks that tie up cash.
WatchCan it set its own prices?Not much. It competes on price with large and small makers, and its main input is imported cells whose cost it does not control.
WatchHow strong is it against rivals?It is a small assembler in a market that big domestic and foreign players are entering.
WatchWho are its customers?Mostly the banking supply chain, with one customer giving well over a third of sales.
WatchDoes it need a lot of money?Yes for stock. Long import times mean it holds many months of materials, so cash waits in inventory.
AverageCan it keep finding new work?It has moved into drones, storage and industrial uses, but some newer lines such as electric vehicles have come and gone.
WatchDo good and bad years swing a lot?Yes. With few customers and one main industry, the loss or delay of a large buyer moves sales sharply.
Who runs ATC Energies System?
Promoters, directors and officers; tap a name for the background
SGSandeep Gangabishan BajoriaPromoter, Chairman and Managing Director · holds 70.49%
Bachelor of Commerce from the University of Bombay (1995), a first generation entrepreneur with over 25 years in chemicals, electricals and industrial equipment, who began by trading in equipment before setting up battery manufacturing. Director since incorporation in 2020 and Chairman since May 2024; oversees strategy and marketing.
Red herring prospectus, p.138 and p.171; Annual report FY25, p.36PVPiyush Vijaykumar KediaExecutive Director and Chief Financial Officer
B.Com from the University of Bombay, Chartered Accountant and Cost Accountant (1997). Worked in finance at Indian Seamless Financial Services, Zee Interactive Learning Systems, Anand Rathi Securities, Centrum Broking and Al Bandar International House of Trading, then as a freelance finance adviser; over 20 years in finance.
Red herring prospectus, p.171ZRZubair RahmanWhole Time Director · holds 1.10%
No formal qualifications, as the offer document states, with a background in management; a director since 2021 overseeing operations, and Whole Time Director from May 2024 to May 2029.
Red herring prospectus, p.171; Annual report FY25, p.36NVNilesh Victor CorreiaNon-Executive Director
B.Sc from the University of Bombay and a master's in marketing management from the University of Mumbai; worked at ICICI Bank as chief manager, BillDesk, India Transact Services as senior vice president for product development and Mindgate Solutions.
Red herring prospectus, p.171AMAshwin Manoharlal AgarwalIndependent Director
B.Com from the University of Bombay and an MBA from Southern New Hampshire University; worked at PNB MetLife, Edelweiss Tokio Life and Kotak Mahindra Bank, and since 2018 as a freelance investment and insurance adviser. On the board since March 2024.
Red herring prospectus, p.171 and p.172HTHimanshi TiwariIndependent Director
Graduate and MBA from Rani Durgavati Vishwavidyalaya, Jabalpur, and a Company Secretary (2021); company secretary at Silicon Rental Solutions since August 2022. On the board since March 2024.
Red herring prospectus, p.172ATC Energies System latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹17.9 cr (-38%), net profit -₹2.1 cr (-137%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 72.06%; Aarth AIF Growth Fund down to 1.04%.
ATC Energies System announcements
16 on record, latest first; each opens the filing on the exchange
- Shareholders meetingvoting results of Annual General Meeting held on September 29, 2026PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 29, 2026PDF ↗
- Change in Director(s)Of the companyPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 29, 2026PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 29, 2026PDF ↗
- Change in Director(s)Of the companyPDF ↗
- Outcome of Board MeetingHeld on September 03, 2026PDF ↗
- Quarterly Compliance Report on Corporate governance - within 21 days from the enATC Energies System Limited has informed regarding Submission of the Compliance Report on Corporate Governance for the Quarter ended 30.06.2026 for the FY 2026PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- ResignationOf Nilesh Victor Correia as Non- Executive Director of the company w.e.f. the close of business hours on 30th June, 2026PDF ↗
ATC Energies System annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
ATC Energies System share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on ATC Energies System's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,03,88,600 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY21 (₹508.00) and FY22 (₹46.51) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY21 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about ATC Energies System
What does ATC Energies System do?
ATC Energies System puts together lithium ion battery packs, mostly small ones for card machines and ATMs used by banks, and also for drones, electric vehicles and industrial equipment, at factories in Vasai and Noida. Its shares trade on NSE Emerge.
What is the share price of ATC Energies System?
₹20.6 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of ATC Energies System?
₹42 cr at the close on 6 Nov 2026, on 2,03,88,600 shares.
What are ATC Energies System's revenue and profit?
Revenue ₹31 cr and profit after tax -₹1 cr in FY26.
Who are the promoters of ATC Energies System?
Sandeep Gangabishan Bajoria; promoters held 72.06% at 31 March 2026.
What was the IPO price of ATC Energies System?
₹118 a share; it listed on 2 April 2025.
What is ATC Energies System's website?
www.atcgroup.co
More SME companies like ATC Energies System
Other listed SME companies in electrical equipment, the closest in size first, each read from its own documents.
- Electro Force (India)EFORCE · NSE Emerge · Electrical Equipment · listed 2023Market cap ₹42 cr
- Trom IndustriesTROM · NSE Emerge · Electrical Equipment · listed 2024Market cap ₹52 cr
- Vdeal SystemVDEAL · NSE Emerge · Electrical Equipment · listed 2024Market cap ₹54 cr
- Sungarner EnergiesSEL · NSE Emerge · Electrical Equipment · listed 2023Market cap ₹55 cr
- Jigar CablesJIGAR · BSE SME · Electrical EquipmentMarket cap ₹59 cr
- G V ElectricalsGVELECTRIC · BSE SME · Electrical EquipmentMarket cap ₹117 cr
Every listed SME company in Electrical Equipment → · SME companies listed in 2025 →
Built from 2 annual reports, 1 offer document, 16 exchange announcements, 4 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.