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Signpost India Ltd

SIGNPOST
NSE
230.23
0.38%
Last Updated:
02 Apr '26, 3:59 PM
Company Overview
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Signpost India Ltd

SIGNPOST
NSE
230.23
0.38%
02 Apr '26, 3:59 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
1,231Cr
Close
Close Price
230.23
Industry
Industry
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PE
Price To Earnings
24.57
PS
Price To Sales
2.34
Revenue
Revenue
525Cr
Rev Gr TTM
Revenue Growth TTM
17.73%
PAT Gr TTM
PAT Growth TTM
-1.22%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
1639485105103100130112111138134142
Growth YoY
Revenue Growth YoY%
43.897.1-36.46.752.37.27.237.03.326.9
Expenses
ExpensesCr
1297773827376969498106100104
Operating Profit
Operating ProfitCr
341812223024341812323438
OPM
OPM%
20.718.714.621.429.323.926.316.411.223.125.726.6
Other Income
Other IncomeCr
521231121111
Interest Expense
Interest ExpenseCr
422324332334
Depreciation
DepreciationCr
5444588101191010
PBT
PBTCr
291481727132481202325
Tax
TaxCr
841892820577
PAT
PATCr
21106918111661151618
Growth YoY
PAT Growth YoY%
-18.9136.5-15.88.1147.3-39.1-94.636.0-1.6214.9
NPM
NPM%
12.911.07.69.017.211.212.35.10.911.111.712.7
EPS
EPS
4.31.91.21.83.32.13.01.10.22.92.93.4

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
337387453525
Growth
Revenue Growth%
15.017.015.8
Expenses
ExpensesCr
267305364408
Operating Profit
Operating ProfitCr
708389116
OPM
OPM%
20.721.419.622.2
Other Income
Other IncomeCr
5855
Interest Expense
Interest ExpenseCr
881112
Depreciation
DepreciationCr
16173840
PBT
PBTCr
50664569
Tax
TaxCr
15221219
PAT
PATCr
35443450
Growth
PAT Growth%
25.0-23.047.7
NPM
NPM%
10.511.47.59.5
EPS
EPS
6.68.26.39.4

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
11111111
Reserves
ReservesCr
137179210240
Current Liabilities
Current LiabilitiesCr
189201239314
Non Current Liabilities
Non Current LiabilitiesCr
39829394
Total Liabilities
Total LiabilitiesCr
379476555662
Current Assets
Current AssetsCr
234227252354
Non Current Assets
Non Current AssetsCr
144249304309
Total Assets
Total AssetsCr
379476555662

Cash Flow

Consolidated
Standalone
Financial YearMar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
86431
Investing Cash Flow
Investing Cash FlowCr
-44-101-38
Financing Cash Flow
Financing Cash FlowCr
34451
Net Cash Flow
Net Cash FlowCr
-27-6
Free Cash Flow
Free Cash FlowCr
-26-45-31
CFO To PAT
CFO To PAT%
23.5144.390.5
CFO To EBITDA
CFO To EBITDA%
11.976.834.5

Ratios

Consolidated
Standalone
Financial YearMar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
02,0001,256
Price To Earnings
Price To Earnings
0.045.437.1
Price To Sales
Price To Sales
0.05.22.8
Price To Book
Price To Book
0.010.65.7
EV To EBITDA
EV To EBITDA
1.125.615.6
Profitability Ratios
Profitability Ratios
GPM
GPM%
100.0100.0100.0
OPM
OPM%
20.721.419.6
NPM
NPM%
10.511.47.5
ROCE
ROCE%
23.921.614.3
ROE
ROE%
23.923.315.4
ROA
ROA%
9.39.36.1
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Signpost India Limited (SIL), headquartered in Mumbai, is India’s largest **Digital Out-of-Home (DOOH)** and **transit media company**, transforming urban infrastructure into high-impact, technology-powered advertising ecosystems. Since its founding in 2008, SIL has evolved into a future-ready player in India’s OOH sector by integrating **digital media, data analytics, urban development, and sustainable design**. Operating in over **25 Indian cities**, the company manages a network of **more than 12,500 transit and OOH assets**, including metro stations, bus shelters, digital billboards, airports, and premium bus fleets. It serves **over 1,600 advertisers**, with a client retention rate of **60%** and **75% direct client relationships**, distinguishing it in an agency-dominated industry. --- ### **Core Business & Market Position** - **Market Leadership**: - India’s largest DOOH and transit media platform. - Largest bus queue-shelter advertising operator in India. - Among the top three players in India’s DOOH sector. - **Geographic Presence**: - Operates across **25+ cities**, with strong presence in Tier-1 hubs including Mumbai, Delhi, Bengaluru, Kolkata, Chennai, Pune, Hyderabad, and Nagpur. - Expanding into **Tier-2 and Tier-3 cities**—recently adding Chandigarh, Lucknow, Puri, Siliguri, and Port Blair—as part of a pan-India growth strategy. - **Key Verticals (WEST Zones)**: Focuses on high-density urban zones: **Work, Entertainment, Shopping, Transit (WEST)** for optimal audience reach and campaign impact. - **Media Portfolio**: - **Transit Media**: Metro stations, buses, airports, fuel stations. - **Digital OOH (DOOH)**: 387+ digital screens in strategic locations. - **Traditional OOH**: Billboards, gantries, street furniture. - **Mobility Advertising**: Full bus wraps, in-bus displays, and dynamic digital formats via partnerships with Cityflo, Olectra, BMTC, and OMC. --- ### **Growth Drivers & Strategic Initiatives** #### 1. **DOOH Market Momentum** - The Indian DOOH market is growing at **30%+ CAGR**, significantly outpacing the 12% CAGR of traditional OOH. - DOOH valued at **₹79.1 Bn by 2027** (from ₹59.2 Bn in 2024), with **24% CAGR** projected. - SIL is capitalizing on **premiumization**, **programmatic adoption**, and **digital infrastructure growth**. #### 2. **Premium Transit Contracts** - Secured a **9-year, ₹700 crore exclusive contract** with **Bangalore Metro Rail Corporation (BMRCL)** for advertising rights across **67 stations** and **100,000 sq ft** of media space. - Reinforces SIL's strength in **public-private partnerships (PPPs)** and **infrastructure-led media** development. #### 3. **Expansion Pipeline** - **₹1,300 crore** of upcoming contracts in pipeline, including PSU and OEM partnerships. - Focus on securing long-term concessions (7–20 years) in high-footfall urban areas to ensure **recurring revenue** and **inventory control**. - Geographic diversification to reduce concentration risk and build national scalability. #### 4. **Technology & Innovation Leadership** - **Captura**: Proprietary AI-powered AdTech platform enabling: - End-to-end campaign execution (planning to billing). - Real-time audience analytics (pedestrian/vehicular flow, dwell time). - Dynamic content triggers (weather, time, events). - Hyperlocal, data-driven media planning and ROI measurement. - **Programmatic DOOH**: - Building a **nationwide programmatic DOOH network**. - Integrating dynamic pricing, automated booking, and proof-of-play verification. - API-linked triggers (traffic, weather, live sales) for contextual ad delivery. - **Digital Transformation**: - Led the digital upgrade of **Mumbai’s Bus Queue Shelters**, making it India’s most digitally equipped city. - Launched **first large-scale cloud-based DOOH network** in India. - 100% shift to energy-efficient **LED lighting** across assets. #### 5. **Urban Infrastructure & ESG** - Develops self-sustaining **smart city infrastructure**: - Digital bus shelters - Automated skywalks - City info panels - E-libraries - E-bike sharing systems - **ESG Commitment**: Net-zero by 2030 goal supported by: - 95% LED media usage - Limited operational hours - Sustainable fleet integration - Low-visual-clutter, functional design philosophy ("Less is More") --- ### **Revenue Model & Financial Highlights** - **Revenue (FY 2024–25)**: **₹453.22 crore** (₹45,322.41 lakh), up **17% YoY**. - **EBITDA Margin**: **21%**, reflecting strong operational efficiency. - **Revenue Streams**: - **50% from revenue-sharing agreements**. - **28% from technology & platform services** (e.g., Captura, analytics). - Balance from traditional transit and static advertising. - **Monetization Strategy**: - Long-term contracts (5–20 years) with **built-in price escalation**. - High revenue per sq ft: **300–400% higher** via multi-client sharing on digital screens. - Focus on **yield optimization** through data-driven pricing and product mix. --- ### **Client & Competitive Advantages** - **Client Base**: Over 1,600 advertisers from **FMCG, BFSI, Telecom, E-commerce, Real Estate, Automobiles, Government, and Pharma** sectors. - **Direct-to-Client Model**: **75% direct sales**, enabling better margins, deeper relationships, and faster feedback loops. - **Competitive Moats**: - **First-mover advantage** in DOOH and cloud-based content management. - **Exclusive city-level PPPs** with strong renewal rates. - **Proprietary technology** (Captura) and data pipeline. - **Regulatory compliance & operational expertise** in transit advertising. --- ### **Strategic Partnerships & Recognition** - **EY Partnership**: Driving a **business transformation initiative** targeting **₹200 crore+ incremental revenue** through operational overhaul and new revenue streams. - **Global Network Access**: Member of **ECCO Global Communications Network**, offering clients access to **30+ award-winning agencies worldwide**. - **Industry Recognition**: - **Gold at Big Bang Awards 2024** for INOX Olympics campaign (live medal display on bus shelters). - **150+ awards** for innovation in sustainable advertising (ABBYS, KYOORIUS, Global Digital Signage Awards). - Recognized as **Great Place to Work® certified** under strong HR leadership. --- ### **Leadership & Governance** - **Professional Management & Institutional Governance** post-reverse merger with Pressman Advertising Ltd., enabling **stock exchange listing** and enhanced transparency. - **Key Leaders**: - **Mr. Shripad Ashtekar** (MD): Visionary founder behind SIL’s rise to top 3 in DOOH. - **Mr. Syed Haseeb Arfath** (Chief Planning Officer): Architect of Captura and India’s first large-scale DOOH network. - **Mr. Rajesh Awasthi** (Executive Director): 20+ years in OOH; led Mumbai’s digital shelter transformation, Kolkata Airport project, and nationwide OMC deployment. - **Mrs. Swati Sinha** (Head HR): 20 years in strategic HR, driving DEI and leadership development.