Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹1,231Cr
Rev Gr TTM
Revenue Growth TTM
17.73%
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | | | 43.8 | 97.1 | -36.4 | 6.7 | 52.3 | 7.2 | 7.2 | 37.0 | 3.3 | 26.9 |
| 129 | 77 | 73 | 82 | 73 | 76 | 96 | 94 | 98 | 106 | 100 | 104 |
Operating Profit Operating ProfitCr |
| 20.7 | 18.7 | 14.6 | 21.4 | 29.3 | 23.9 | 26.3 | 16.4 | 11.2 | 23.1 | 25.7 | 26.6 |
Other Income Other IncomeCr | 5 | 2 | 1 | 2 | 3 | 1 | 1 | 2 | 1 | 1 | 1 | 1 |
Interest Expense Interest ExpenseCr | 4 | 2 | 2 | 3 | 2 | 4 | 3 | 3 | 2 | 3 | 3 | 4 |
Depreciation DepreciationCr | 5 | 4 | 4 | 4 | 5 | 8 | 8 | 10 | 11 | 9 | 10 | 10 |
| 29 | 14 | 8 | 17 | 27 | 13 | 24 | 8 | 1 | 20 | 23 | 25 |
| 8 | 4 | 1 | 8 | 9 | 2 | 8 | 2 | 0 | 5 | 7 | 7 |
|
Growth YoY PAT Growth YoY% | | | -18.9 | 136.5 | -15.8 | 8.1 | 147.3 | -39.1 | -94.6 | 36.0 | -1.6 | 214.9 |
| 12.9 | 11.0 | 7.6 | 9.0 | 17.2 | 11.2 | 12.3 | 5.1 | 0.9 | 11.1 | 11.7 | 12.7 |
| 4.3 | 1.9 | 1.2 | 1.8 | 3.3 | 2.1 | 3.0 | 1.1 | 0.2 | 2.9 | 2.9 | 3.4 |
| Financial Year | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 15.0 | 17.0 | 15.8 |
| 267 | 305 | 364 | 408 |
Operating Profit Operating ProfitCr |
| 20.7 | 21.4 | 19.6 | 22.2 |
Other Income Other IncomeCr | 5 | 8 | 5 | 5 |
Interest Expense Interest ExpenseCr | 8 | 8 | 11 | 12 |
Depreciation DepreciationCr | 16 | 17 | 38 | 40 |
| 50 | 66 | 45 | 69 |
| 15 | 22 | 12 | 19 |
|
| | 25.0 | -23.0 | 47.7 |
| 10.5 | 11.4 | 7.5 | 9.5 |
| 6.6 | 8.2 | 6.3 | 9.4 |
| Financial Year | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 11 | 11 | 11 | 11 |
| 137 | 179 | 210 | 240 |
Current Liabilities Current LiabilitiesCr | 189 | 201 | 239 | 314 |
Non Current Liabilities Non Current LiabilitiesCr | 39 | 82 | 93 | 94 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 234 | 227 | 252 | 354 |
Non Current Assets Non Current AssetsCr | 144 | 249 | 304 | 309 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 8 | 64 | 31 |
Investing Cash Flow Investing Cash FlowCr | -44 | -101 | -38 |
Financing Cash Flow Financing Cash FlowCr | 34 | 45 | 1 |
|
Free Cash Flow Free Cash FlowCr | -26 | -45 | -31 |
| 23.5 | 144.3 | 90.5 |
CFO To EBITDA CFO To EBITDA% | 11.9 | 76.8 | 34.5 |
| Financial Year | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 0 | 2,000 | 1,256 |
Price To Earnings Price To Earnings | 0.0 | 45.4 | 37.1 |
Price To Sales Price To Sales | 0.0 | 5.2 | 2.8 |
Price To Book Price To Book | 0.0 | 10.6 | 5.7 |
| 1.1 | 25.6 | 15.6 |
Profitability Ratios Profitability Ratios |
| 100.0 | 100.0 | 100.0 |
| 20.7 | 21.4 | 19.6 |
| 10.5 | 11.4 | 7.5 |
| 23.9 | 21.6 | 14.3 |
| 23.9 | 23.3 | 15.4 |
| 9.3 | 9.3 | 6.1 |
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.