Vertoz Ltd (VERTOZ) AI Stock Analysis

• Market Cap: ₹3.08B
• Dividend Yield: N/A
• Average Volume (3M): 134.30K
• Price to Earnings (P/E): 24.5
• Beta (1Y): 0.93
• Revenue Growth: 21.99%
• EPS Growth: -14.27%
• Country: IN
• Employees: 201
• Sector: Technology
• Sector Strength: 88
• Industry: Advertising Agencies
• EPS (TTM): 0.73
• Shares Outstanding: 85,230,000
• 10 Day Avg. Volume: 106,066
• 30 Day Avg. Volume: 134,296
• PEG Ratio: -3.58
• Price to Book (P/B): 34.23
• Price to Sales (P/S): 25.54
• P/FCF Ratio: 2.51K
• 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: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: ₹37.00 ▼(-46.82% Downside)
• Action: Reiterated Date: 02/21/26
• Date: Action: Reiterated 02/21/26

Solid fundamentals (strong growth and profitability with a conservative balance sheet) support the score, but they are meaningfully offset by weak technicals (price below key moving averages with negative MACD) and only moderate valuation support (P/E ~15.8, no dividend yield provided).

Positive Factors

High Revenue Growth

Sustained 64.3% revenue growth signals expanding demand for Vertoz’s adtech services and improving market penetration. Over the next 2–6 months this scale increase supports stronger operating leverage, better vendor/supplier economics and more predictable revenue streams for reinvestment.

Healthy Profitability

Net margin of 10.2% and an improved 17.0% EBITDA margin indicate durable unit economics and the ability to convert revenue into operating profit. This level of profitability provides capacity to fund growth, absorb ad market cycles, and maintain investment in product and tech over months.

Conservative Balance Sheet

Very low leverage (D/E 0.10) and a high equity ratio reduce refinancing and solvency risk, giving management flexibility to invest or withstand ad-market volatility. A 13.7% ROE shows effective capital use, supporting stable operations and strategic initiatives over the medium term.

Negative Factors

Weak Cash Conversion

Low cash conversion (OCF/net income 0.23; FCF/net income 0.10) means earnings are not reliably turning into cash. This raises long‑term risks for funding capex, sustaining growth or returning capital without drawing on financing, particularly if working capital remains volatile.

Thin Gross Margin

A 14.2% gross margin offers limited buffer against rising costs or price pressure in adtech. Thin gross profitability constrains operating margin upside and makes results sensitive to client mix or CPM declines, limiting durable earnings resilience over the coming months.

Declining EBIT Margin

A drop in EBIT margin to 9.0% signals potential operating cost pressures or weaker operating leverage despite revenue growth. If the decline persists, it could reduce free cash generation and limit funds available for product investment or scaling sales operations over the medium term.

Vertoz Ltd Business Overview & Revenue Model

Company Description

Vertoz Advertising Limited engages in the programmatic advertising business in India and internationally. Its solutions include Ingenious Plex, a media buying platform that offers real-time trading of digital advertising between advertisers and publishers; IncrementX, an AI-driven platform for publishers that facilitates smart monetization for their sites; Admozart, an ad network that helps advertisers reach the masses by harnessing contextual and video feeds; Adzurite that provides performance marketing solutions for all the performance and advertising needs; and ZKraft, which offers 360° digital consulting and solutions to businesses aiming to leverage the power of digital. The company was formerly known as Vertoz Media Limited and changed its name to Vertoz Advertising Limited in June 2017. Vertoz Advertising Limited was incorporated in 2012 and is based in Mumbai, India.

How the Company Makes Money

Vertoz Ltd primarily makes money by earning fees and margins from digital advertising services and technology-enabled ad delivery/monetization. Revenue is generated when advertisers or agencies buy digital media through Vertoz’s services/platforms (e.g., programmatic and other performance/brand advertising execution), and Vertoz retains a spread/commission or service fee tied to campaign spend, delivery, and optimization. The company may also earn revenue from publisher monetization services where it helps websites/apps sell ad inventory and receives a revenue share from the advertising proceeds. Any specific breakdown by segment, pricing mechanics (take rate), or named strategic partnerships is not available in the provided context and is therefore null.

Vertoz Ltd Financial Statement Overview

Summary

Strong income statement performance (64.3% revenue growth and healthy net margin of 10.2%) and a robust balance sheet (low debt-to-equity of 0.10, equity ratio 75.1%). The main drag is cash flow quality, with low operating cash flow to net income (0.23) and free cash flow to net income (0.10) despite free cash flow turning positive.

Income Statement

Vertoz Ltd shows impressive revenue growth with a significant increase of 64.3% from 2024 to 2025. The gross profit margin stands at 14.2%, and the net profit margin at 10.2%, indicating a healthy conversion of revenue into profit. Although the EBIT margin slightly decreased to 9.0%, the EBITDA margin improved to 17.0%, suggesting efficient operations.

Balance Sheet

The company's financial stability is underscored by a low debt-to-equity ratio of 0.10, signifying conservative leverage. Return on equity is strong at 13.7%, illustrating effective management of shareholders' investments. The equity ratio is at 75.1%, indicating a solid dependency on equity financing, enhancing financial stability.

Cash Flow

The free cash flow improved significantly, moving from negative to positive in 2025, indicating improved cash management. However, the operating cash flow to net income ratio is low at 0.23, suggesting potential challenges in converting income into cash. The free cash flow to net income ratio is 0.10, reflecting room for improvement in cash generation relative to earnings.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	2.74B	2.55B	1.55B	828.14M	416.06M	570.04M
Gross Profit	623.82M	361.37M	291.64M	248.19M	202.57M	209.90M
EBITDA	474.57M	434.16M	230.60M	175.85M	117.94M	143.21M
Net Income	273.94M	260.08M	157.78M	110.37M	61.03M	81.85M
Balance Sheet
Total Assets	3.01B	2.54B	1.98B	1.30B	862.23M	838.49M
Cash, Cash Equivalents and Short-Term Investments	47.44M	127.95M	107.93M	64.04M	29.66M	29.62M
Total Debt	183.78M	198.33M	171.26M	89.82M	99.94M	142.35M
Total Liabilities	716.91M	632.72M	392.08M	277.40M	199.21M	261.18M
Stockholders Equity	2.29B	1.90B	1.58B	1.02B	663.03M	577.31M
Cash Flow
Free Cash Flow	-295.81M	25.98M	-335.17M	-156.01M	9.45M	-27.03M
Operating Cash Flow	43.96M	58.74M	71.41M	-153.92M	23.14M	-27.03M
Investing Cash Flow	-311.43M	48.63M	-440.55M	7.39M	-3.66M	34.36M
Financing Cash Flow	186.96M	-87.31M	413.03M	180.92M	-19.45M	-7.45M

Vertoz Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 69.58
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VERTOZ, the sentiment is Negative. The current price of 69.58 is above the 20-day moving average (MA) of 42.90, above the 50-day MA of 53.72, and below the 200-day MA of 74.10, indicating a bearish trend. The MACD of -4.93 indicates Positive momentum. The RSI at 29.97 is Positive, neither overbought nor oversold. The STOCH value of 15.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:VERTOZ.

Vertoz Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MINDTECK	77 Outperform	₹5.58B	32.30	―	0.50%	0.23%	10.64%
INNOVANA	68 Neutral	₹7.23B	22.14	―	―	25.98%	18.29%
INFOBEAN	67 Neutral	₹13.20B	25.81	―	0.13%	14.57%	80.44%
VERTOZ	63 Neutral	₹3.08B	24.54	―	―	21.99%	-14.27%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SILVERTUC	58 Neutral	₹14.78B	63.12	―	0.06%	16.93%	36.77%
SUBEXLTD	46 Neutral	₹4.58B	56.55	―	―	-9.53%	96.99%

Vertoz Ltd Corporate Events

Vertoz Publishes Q3 FY2025 Unaudited Results in Leading Dailies

Vertoz Limited has notified the stock exchange that it has published its unaudited financial results for the quarter ended 31 December 2025 in accordance with SEBI’s listing and disclosure regulations. The results have been made publicly available via newspaper advertisements in the national English daily Financial Express and the Marathi daily Lakshadweep, reinforcing the company’s compliance with regulatory transparency norms and ensuring broader stakeholder access to its quarterly financial performance.