Atlantaa financials and balance sheet

NSE: ATLANTAABSE: 532759Transport InfrastructureSmall Cap

Formerly Atlanta

₹29.63₹2.09 (6.59%)BSE ₹29.70

Share price at the NSE close on 23 Oct 2026. Previous close ₹31.72.

52-week range of traded prices to 23 Oct 2026

₹29.40Low, 23 Oct 2026₹51.45High, 19 Jan 2026

Next results date: the board meets on 4 Nov 2026 to consider: financial results.

Market cap: ₹241 Cr2,077th largest listed
P/E: Lossover the last 12 months
P/B: 1.1
Dividend yield: Nonein the last 12 months
ROE: −2.4%
ROCE: −2.4%
Debt to equity: 1.47
Volume, NSE: 75,23282.6% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Atlantaa annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

A loss in the year to Mar 2026, −₹1.71 CrA loss in 7 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

The years either side of a change of basis do not compare. From the year to Mar 2022, the company's revenue for that year, ₹234 Cr, differs from its quarters added, ₹200 Cr.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue74
Materials and goods−19
Employee costs−6.8
Other expenses−12
Operating profit36
Depreciation−46
Other income+20
One-off items0.0
Finance costs−11
Profit before tax−0.6
Tax−1.1
Net profit−1.7

What the company owns

Plant, investments and other assets₹202 Cr
Cash and bank₹147 Cr
Inventory₹131 Cr
Receivables₹83 Cr
Current investments₹3 Cr

What pays for it: net worth and liabilities

Borrowings₹315 Cr
Net worth₹214 Cr
Other liabilities₹31 Cr
Owed to suppliers₹5 Cr

Profit and loss

Consolidated, ₹ crore, years to March.Atlantaa quarterly results

₹ crore	Mar 2017	Mar 2018Filed 31 Jul	Mar 2019Filed 21 May	Mar 2020Filed 4 Aug	Mar 2021Filed 30 Jul	Mar 2022Filed 14 Jun	Mar 2023Filed 23 May	Mar 2024Filed 29 Jul	Mar 2025Filed 10 Jun	Mar 2026Filed 18 May
Revenue from operations	255	211	48	96	88	234	52	133	68	74
	113	94	70	57	50	522	32	25	35	38
Materials and goods bought	87	75	32	39	32	11	16	11	17	19
Employee costs	13	8	7	5	5	8	7	4	8	7
Other expenses	13	11	32	13	13	503	8	9	11	12
Operating profit before depreciation	141	117	−22	39	39	−288	20	108	33	36
Operating margin	55.5%	55.5%	−47.0%	41.0%	43.9%	−122.6%	38.1%	81.5%	48.1%	49.0%
Materials, % of revenue	34.2%	35.4%	67.1%	40.0%	36.0%	4.7%	31.4%	8.5%	25.4%	25.1%
Employee costs, % of revenue	5.1%	4.0%	13.7%	5.2%	5.6%	3.3%	14.5%	3.2%	11.0%	9.2%
Other expenses, % of revenue	5.2%	5.1%	66.2%	13.7%	14.5%	214.7%	16.0%	6.9%	15.5%	16.7%
Depreciation and amortisation	5	56	36	37	41	25	31	36	43	46
Operating profit after depreciation	137	61	−59	2	−2	−313	−11	72	−10	−9
Other income	3	4	41	7	3	106	8	16	31	20
Finance costs	64	74	75	67	65	64	6	4	4	11
Profit before one-off items and tax	75	−9	−93	−58	−65	−270	−9	84	18	−1
One-off items	0	−30	0	−736	0	−120	0	464	0	0
Profit before tax	75	−39	−93	−794	−65	−391	−9	548	18	−1
	18	0	−1	4	5	12	23	9	−25	1
Current tax	–	0	0	3	0	0	23	0	0	0
Deferred tax	–	0	−1	1	5	12	0	9	−25	1
	57	−39	−92	−798	−70	−403	−32	539	43	−2
Belonging to the company's shareholders	57	−39	−92	−796	−70	−403	−32	539	43	−2
Belonging to outside owners of subsidiaries	–	0	0	−2	–	–	–	0	0	0
Other comprehensive income	–	0	0	0	0	0	0	0	0	−1
Total comprehensive income	–	−39	−92	−798	−70	−403	−33	539	42	−3
Net margin	22.5%	−18.5%	−193.0%	−829.7%	−79.4%	−171.6%	−62.7%	405.8%	62.5%	−2.3%

Belonging to outside owners of subsidiaries is left blank for the year to Mar 2021: the filing states 0 for this share both for the period and for the year so far, which the form also writes for a line it does not fill, while the company's other filings for the same year show it was not 0 over those months.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2018Filed 31 Jul	Mar 2019Filed 21 May	Mar 2020Filed 4 Aug	Mar 2021Filed 30 Jul	Mar 2022Filed 14 Jun	Mar 2023Filed 23 May	Mar 2024Filed 29 Jul	Mar 2025Filed 10 Jun	Mar 2026Filed 18 May
	435	314	−482	−557	−342	−383	159	212	214
	434	313	−481	−558	−343	−384	158	210	213
Share capital	16	16	16	16	16	16	16	16	16
Reserves	418	297	−498	−574	−359	−400	141	194	196
Belonging to outside owners of subsidiaries	1	1	−1	1	1	1	2	2	2
	1,008	1,019	922	883	812	817	240	314	315
Repayable after a year	856	848	258	209	42	19	8	80	90
Repayable within a year	151	170	664	675	770	798	232	233	225
	362	379	872	962	797	813	252	241	235
Trade payables	74	13	12	18	0	0	10	4	5
Other financial liabilities	122	177	180	255	15	0	0	1	1
Other liabilities	11	6	3	3	0	14	8	4	3
Provisions	4	0	1	1	1	1	1	0	0
Tax owed	0	11	11	11	11	–	–	–	0
	946	936	353	322	114	89	53	119	117
Other financial liabilities	35	34	33	33	22	18	15	10	8
Provisions	54	53	62	80	49	49	30	28	19
Trade payables	0	0	0	–	1	2	–	0	0
Total assets	1,743	1,628	742	727	569	518	464	572	566
	1,492	1,437	647	593	339	293	228	234	191
Plant in use, after depreciation	31	16	15	10	11	12	11	9	10
Plant being built	12	1	1	1	1	1	–	–	0
Intangible assets	533	501	465	427	23	129	95	56	14
Goodwill	61	61	61	61	0	0	0	0	3
Intangible assets being developed	657	708	0	–	0	–	–	–	0
Property held to earn rent	11	29	23	23	158	23	22	22	14
Investments	0	0	0	0	21	0	0	0	0
Loans given	0	0	0	0	1	0	0	0	0
Other financial assets	6	0	0	0	0	2	2	16	20
Deferred tax	38	55	47	38	26	26	1	26	25
Trade receivables	135	50	14	13	98	98	98	98	98
Other assets	7	16	20	20	1	2	−2	5	7
	252	191	95	134	230	226	237	338	375
Inventories	79	66	53	53	49	52	57	91	131
Trade receivables	147	94	20	62	111	51	127	64	83
Cash and cash equivalents	3	5	2	5	13	58	10	26	13
Other bank balances	4	1	1	0	48	30	41	148	133
Current investments	0	0	0	0	9	0	0	0	3
Other financial assets	9	25	0	0	0	0	0	0	0
Tax paid in advance	10	–	0	0	0	0	0	–	0
Other assets	0	–	20	13	0	34	2	9	11
Net debt	1,000	1,013	919	878	742	728	189	139	165

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the year to Mar 2017, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 30 Jul	Mar 2022Filed 14 Jun	Mar 2023Filed 23 May	Mar 2024Filed 29 Jul	Mar 2025Filed 10 Jun	Mar 2026Filed 18 May
	106	−100	46	23	55	−33
	107	−99	55	486	62	−32
	64	−123	46	−93	2	−69
Receivables	−41	−134	60	−76	63	−19
Inventories	0	4	−3	−5	−34	−41
Payables	5	−5	−2	−2	1	1
Other working capital	100	11	−10	−10	−28	−10
Tax paid	0	−1	−13	0	−2	−1
Interest paid	0	0	6	4	0	0
Capital spending	0	2	2	0	2	3
Free cash flow	105	−102	44	23	52	−36
	2	243	1	6	−102	30
Plant and property sold	1	0	0	0	0	0
Interest received	0	0	3	0	8	13
Dividends received	0	0	0	0	0	0
	104	−135	−1	−9	64	−10
Borrowings raised	−11	−167	5	−11	68	10
Borrowings repaid	49	−95	0	0	0	−9
Interest paid	0	64	−6	−7	−4	−11
Dividends paid	65	0	0	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	211	8	45	21	16	−13

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Atlantaa dividend history

₹ per share	Mar 2017	Mar 2018Filed 31 Jul	Mar 2019Filed 21 May	Mar 2020Filed 4 Aug	Mar 2021Filed 30 Jul	Mar 2022Filed 14 Jun	Mar 2023Filed 23 May	Mar 2024Filed 29 Jul	Mar 2025Filed 10 Jun	Mar 2026Filed 18 May
Earnings per share	₹7.02	−₹4.76	–	−₹97.96	−₹8.61	−₹49.38	−₹3.90	₹66.10	₹5.22	−₹0.21
Diluted earnings per share	₹7.02	−₹4.76	–	−₹97.96	−₹8.61	−₹49.38	−₹3.90	₹66.10	₹5.22	−₹0.21
Dividend per share	₹0.30	₹0.30	–	–	–	–	–	–	–	–
Book value per share	–	₹53.27	₹38.38	−₹59.07	−₹68.45	−₹42.11	−₹47.12	₹19.36	₹25.81	₹26.08
Dividend payout	4.3%	–	–	–	–	–	–	–	–	–
Shareholder yield	–	–	–	–	121.5%	0.0%	0.0%	0.0%	0.0%	0.0%
Market cap at the year end (₹ crore)	656	609	152	22	54	159	125	184	226	263

Earnings per share is left blank for the year to Mar 2019: the earnings per share stated has the opposite sign to the profit stated beside it, so it is not shown.

Ratios

Consolidated, years to March.Atlantaa PE ratio and valuation

Ratio	Mar 2017	Mar 2018Filed 31 Jul	Mar 2019Filed 21 May	Mar 2020Filed 4 Aug	Mar 2021Filed 30 Jul	Mar 2022Filed 14 Jun	Mar 2023Filed 23 May	Mar 2024Filed 29 Jul	Mar 2025Filed 10 Jun	Mar 2026Filed 18 May
Revenue growth	59.9%	−17.0%	−77.4%	101.0%	−8.2%	–	−78.0%	157.0%	−48.7%	8.5%
Operating profit growth	1,133.9%	−17.0%	–	–	−1.6%	–	–	449.9%	−69.7%	10.6%
Net profit growth	–	–	–	–	–	–	–	–	−92.1%	–
Earnings per share growth	–	–	–	–	–	–	–	–	−92.1%	–
	–	−9.0%	−24.7%	944.5%	13.5%	89.3%	8.9%	−476.3%	23.1%	−0.8%
	–	–	−15.7 pts	969.2 pts	−931.0 pts	75.8 pts	−80.4 pts	−485.2 pts	499.4 pts	−23.9 pts
From the net margin	–	–	−84.9 pts	−81.4 pts	−853.8 pts	15.7 pts	−56.7 pts	−66.6 pts	402.9 pts	−24.0 pts
From asset turnover	–	–	71.9 pts	−197.2 pts	43.6 pts	58.6 pts	−24.1 pts	−106.3 pts	37.7 pts	0.0 pts
From borrowing	–	–	−2.7 pts	1,247.7 pts	−120.8 pts	1.5 pts	0.3 pts	−312.3 pts	58.8 pts	0.0 pts
Return on capital employed	–	4.2%	−4.4%	0.5%	−0.6%	−66.6%	−2.6%	18.1%	−1.9%	−1.8%
Cash conversion	–	–	–	–	–	–	–	4.3%	128.5%	–
Interest cover	2.1	0.8	–	0.0	–	–	–	16.3	–	–
Debt to equity	–	2.32	3.25	–	–	–	–	1.51	1.48	1.47
Receivable days	–	254	720	77	258	173	359	349	340	409
Inventory days	–	383	746	501	608	1,646	1,171	1,845	1,915	2,585
Payable days	–	361	148	118	201	9	0	330	84	107
Cash conversion cycle, days	–	276	1,318	460	665	1,810	1,531	1,864	2,171	2,887
Working capital days	–	58	−175	−436	−656	206	863	456	835	1,065
Asset turnover	–	0.12	0.03	0.08	0.12	0.36	0.10	0.27	0.13	0.13
Assets per rupee of net worth	–	4.02	4.51	−14.06	−1.41	−1.44	−1.50	−4.34	2.82	2.69
Sales per rupee of plant	–	6.72	2.96	6.58	8.50	21.79	4.18	11.92	7.22	7.63
Capital spending to depreciation	–	–	–	–	0.01	0.07	0.07	0.00	0.06	0.06
Plant being built, % of plant in use	–	38.8%	4.3%	4.8%	6.7%	6.5%	5.6%	–	–	0.0%

Interest cover is left blank for the years to Mar 2019, Mar 2021, Mar 2022, Mar 2023, Mar 2025 and Mar 2026: operating profit after depreciation is a loss, and a loss covers no interest bill. Debt to equity is left blank for the years to Mar 2020, Mar 2021, Mar 2022 and Mar 2023: net worth is below zero, so there is no shareholders' money to set the borrowings against. Revenue growth is left blank for the year to Mar 2022: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out. No balance sheet is on record for the year to Mar 2017, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: −0.3%
Cash from operations against operating profit: −91.9%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	−7.4%	−3.5%	12.7%
Return on equity, average	63.2%	−71.1%	−151.3%
Return on capital employed, average	−6.1%	−11.0%	4.8%
Operating margin, average	24.3%	18.8%	59.5%
Net margin, average	−86.7%	46.3%	155.3%
Asset turnover, average	0.15	0.20	0.18
Cash conversion cycle, days, average	1,443	2,053	2,308
Debt to equity, average	–	–	1.48

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	−9	45	−33
Cash from investing	178	−66	30
Cash from financing	−91	45	−10
Capital spending	9	5	3
Dividends paid	0	0	0
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	–	–	10
Borrowings repaid	104	9	9

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	8	6	5	8	5	3
Altman Z-scorePublished threshold 1.1	–	0.85	0.02	−16.05	−10.50	−12.86	−10.44	9.32	3.09	3.52
Beneish M-scorePublished threshold −1.78	–	–	–	–	−1.60	−5.82	−2.57	4.22	−3.24	−2.03
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−24.15	−84.25	−14.50	103.71	17.39	0.28
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	–	−0.30	0.23	0.08
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	41.67	−179.59	216.99	−88.03	23.82	−7.47	−1.22	21.82
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	40.62	−39.41	17.70	58.62	−42.78	39.85	5.83	37.56
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	13.30	−5.72	−7.58	−5.53	66.66	−24.45	11.23	2.07
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	0.03	0.02	0.02	0.03	0.02	–	–	0.00
Effective tax ratePublished threshold 17.16 per cent	23.60	–	–	–	–	–	–	1.64	−139.21	–
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	–	–	1.64	−149.09	–

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
13 Oct 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Bank Loan RatingsLong and short-term scales	IVR BB+ & IVR A4+Review, Re-affirm	Stable	100

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.