Affle (India) Ltd. (AFFLE) AI Stock Analysis

• Market Cap: ₹236.94B
• Dividend Yield: N/A
• Average Volume (3M): 13.94K
• Price to Earnings (P/E): 56.9
• Beta (1Y): 1.56
• Revenue Growth: 19.55%
• EPS Growth: 20.85%
• Country: IN
• Employees: 642
• Sector: Technology
• Sector Strength: 88
• Industry: Advertising Agencies
• EPS (TTM): 7.90
• Shares Outstanding: 140,677,220
• 10 Day Avg. Volume: 7,876
• 30 Day Avg. Volume: 13,942
• PEG Ratio: 2.41
• Price to Book (P/B): 7.59
• Price to Sales (P/S): 9.87
• P/FCF Ratio: 84.03
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: ₹1,816.00 ▲(6.93% Upside)

Affle (India) Ltd. demonstrates strong financial performance with robust revenue and profit growth, which is the most significant factor in its overall score. However, the stock faces bearish technical indicators and high valuation concerns, which weigh down the overall score. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Revenue Growth

Substantial revenue growth indicates strong market demand and effective business strategies, supporting long-term expansion and competitiveness.

Cash Flow Management

Strong cash flow management ensures liquidity and supports sustainable growth, allowing for reinvestment and financial stability.

Balance Sheet Health

A strong balance sheet with low debt-to-equity ratio indicates financial stability and prudent risk management, enhancing resilience.

Negative Factors

Liability Increase

Rising liabilities could strain financial resources if not managed, potentially impacting long-term financial health and flexibility.

EBIT Margin Fluctuations

Fluctuating EBIT margins suggest potential volatility in operating costs, which could affect profitability and operational efficiency.

High Valuation Concerns

High valuation may limit stock attractiveness and could lead to market corrections, impacting investor sentiment and capital access.

Affle (India) Ltd. Business Overview & Revenue Model

Company Description

Affle (India) Limited, together with its subsidiaries, provides mobile advertisement services through information technology and software development services for mobiles in India and internationally. It offers MAAS platform, an end-to-end mobile advertising platform; RevX, a self-serve programmatic platform; Appnext, an app recommendation platform; Jampp, a programmatic app marketing platform; Vizury Engage360, an omnichannel marketing platform; Mediasmart, a programmatic and proximity marketing platform; mFaaS for ad fraud detection; Shoffr, an online to offline marketing platform; mKr8, an ad authoring platform; mDMP, a data management platform; mCDP, a customer data platform for audience intelligence and engagement; and affle reusable components for application development. The company serves telecommunication and ISP, healthcare, retail and e-commerce, ERP and workplace, real estate, travel, and transportation industries, as well as public sector and government. Affle (India) Limited was incorporated in 1994 and is based in Gurugram, India.

How the Company Makes Money

Affle generates revenue primarily through its performance-based mobile advertising services. The company operates on a cost-per-install (CPI) and cost-per-action (CPA) model, whereby advertisers pay only when users engage with their ads or install applications. Key revenue streams include mobile app marketing, subscription fees from its analytics and marketing technology services, and partnerships with various app developers and marketers. Additionally, Affle has strategic partnerships with several technology companies and advertising networks, enhancing its reach and capabilities in targeting consumers effectively, which contributes significantly to its earnings.

Affle (India) Ltd. Financial Statement Overview

Summary

Affle (India) Ltd. exhibits a strong financial position with substantial revenue and profit growth, healthy margins, and effective leverage management. The company shows robust cash flow generation, indicating financial stability and a positive growth trajectory. However, monitoring liabilities and operational expenses is advisable.

Income Statement

Affle (India) Ltd. has demonstrated a robust financial performance with strong revenue growth over the years. The revenue grew substantially from 33.38 billion to 226.63 billion between 2020 and 2025, indicating a healthy expansion. The gross profit margin improved significantly, reflecting effective cost management. Notably, the company maintains high net profit and EBITDA margins, showcasing profitability and operational efficiency. However, the EBIT margin showed slight fluctuations, which could hint at variable operating expenses. Overall, the income statement reflects a strong and growing financial position in the industry.

Balance Sheet

Affle (India) Ltd. presents a solid balance sheet with impressive growth in stockholders' equity from 2.29 billion to 29.46 billion over the six-year period. The company's debt-to-equity ratio is low, indicating prudent management of leverage and financial risk. The equity ratio has remained robust, underscoring financial stability and a strong asset base. The significant increase in cash and short-term investments highlights liquidity strength. However, the total liabilities have also increased, which warrants monitoring to ensure continued financial health.

Cash Flow

The company has shown excellent cash flow management with a consistent increase in operating cash flow, which supports its net income figures. The free cash flow growth is noteworthy, suggesting effective capital expenditure management and strong cash generation capabilities. The operating cash flow to net income ratio remains healthy, indicating that earnings are well supported by cash flows. Overall, the cash flow statement reflects strong liquidity and effective cash management strategies.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	23.68B	22.66B	18.43B	14.34B	10.82B	5.17B
Gross Profit	10.08B	8.87B	4.81B	3.13B	2.41B	1.45B
EBITDA	6.04B	5.77B	4.12B	3.43B	2.84B	1.71B
Net Income	4.01B	3.82B	2.97B	2.45B	2.14B	1.35B
Balance Sheet
Total Assets	0.00	36.22B	32.83B	20.11B	18.27B	7.53B
Cash, Cash Equivalents and Short-Term Investments	15.26B	15.44B	13.70B	7.80B	6.05B	632.45M
Total Debt	0.00	820.95M	1.83B	1.06B	1.49B	1.19B
Total Liabilities	-29.46B	6.75B	7.85B	5.44B	6.48B	3.93B
Stockholders Equity	29.46B	29.46B	24.98B	14.65B	11.78B	3.59B
Cash Flow
Free Cash Flow	0.00	2.66B	1.47B	1.68B	1.33B	525.07M
Operating Cash Flow	0.00	4.26B	2.62B	2.60B	2.06B	1.02B
Investing Cash Flow	0.00	-1.14B	-5.77B	-1.97B	-5.56B	-1.75B
Financing Cash Flow	0.00	-918.13M	7.83B	-590.45M	6.15B	530.86M

Affle (India) Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1698.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AFFLE, the sentiment is Negative. The current price of 1698.25 is above the 20-day moving average (MA) of 1671.18, below the 50-day MA of 1785.76, and below the 200-day MA of 1788.05, indicating a neutral trend. The MACD of -29.69 indicates Negative momentum. The RSI at 51.21 is Neutral, neither overbought nor oversold. The STOCH value of 90.15 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:AFFLE.

Affle (India) Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RSYSTEMS	73 Outperform	₹47.80B	25.31	―	3.11%	8.36%	36.68%
SONATSOFTW	69 Neutral	₹98.08B	21.96	―	1.98%	12.39%	59.77%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
AFFLE	61 Neutral	₹236.94B	56.87	―	―	19.55%	20.85%
TEJASNET	54 Neutral	₹85.06B	-20.58	―	0.52%	-17.23%	-185.73%

Affle (India) Ltd. Corporate Events

Affle 3i Limited Engages with Analysts and Investors

Affle 3i Limited announced its participation in several analyst and investor meetings, including one-on-one calls with ICICI Securities and Phillip Capital, as well as an in-person meeting with Select Equity from Japan. These interactions are part of the company’s ongoing efforts to engage with stakeholders and provide updates on its business operations, though no unpublished price-sensitive information was disclosed.