Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹428Cr
Rev Gr TTM
Revenue Growth TTM
20.23%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

VERTOZ
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 243.2 | 207.5 | 137.2 | 155.9 | 33.0 | 77.4 | 69.0 | 19.9 | 42.8 | 17.1 | 13.5 | 13.9 |
| 28 | 30 | 31 | 49 | 39 | 51 | 57 | 58 | 53 | 61 | 62 | 62 |
Operating Profit Operating ProfitCr |
| 18.8 | 11.6 | 17.6 | 10.9 | 14.6 | 14.9 | 10.7 | 12.5 | 19.0 | 14.2 | 14.4 | 17.9 |
Other Income Other IncomeCr | 0 | 1 | 0 | 0 | 0 | 0 | 3 | 2 | 2 | 0 | 3 | 1 |
Interest Expense Interest ExpenseCr | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 2 | 1 |
Depreciation DepreciationCr | 1 | 1 | 1 | 1 | 3 | 3 | 2 | 1 | 7 | 3 | 3 | 5 |
| 5 | 4 | 5 | 5 | 4 | 6 | 7 | 8 | 7 | 7 | 8 | 8 |
| 1 | 0 | 0 | 0 | -1 | 0 | 1 | 1 | 1 | 1 | 1 | 2 |
|
Growth YoY PAT Growth YoY% | 124.0 | 151.1 | 120.2 | 40.9 | 14.4 | 62.1 | 28.1 | 63.0 | 28.1 | 12.7 | 10.2 | -16.2 |
| 11.9 | 10.4 | 13.6 | 8.2 | 10.3 | 9.5 | 10.3 | 11.1 | 9.2 | 9.2 | 10.0 | 8.2 |
| 1.7 | 1.5 | 1.9 | 1.4 | 0.1 | 0.1 | 0.8 | 0.9 | 0.7 | 7.6 | 0.8 | 0.7 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 81.5 | 25.5 | -12.3 | 40.6 | -27.0 | 99.0 | 87.6 | 64.3 | 11.0 |
| 15 | 29 | 36 | 34 | 45 | 31 | 66 | 134 | 219 | 237 |
Operating Profit Operating ProfitCr |
| 25.0 | 21.7 | 22.5 | 16.4 | 21.6 | 26.0 | 20.6 | 13.8 | 14.3 | 16.3 |
Other Income Other IncomeCr | 0 | 1 | 1 | 2 | 2 | 1 | 1 | 2 | 7 | 6 |
Interest Expense Interest ExpenseCr | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 2 | 2 | 4 |
Depreciation DepreciationCr | 1 | 1 | 2 | 2 | 4 | 3 | 3 | 6 | 13 | 18 |
| 4 | 7 | 9 | 5 | 9 | 8 | 14 | 16 | 28 | 30 |
| 1 | 1 | 1 | 1 | 1 | 2 | 3 | 0 | 2 | 4 |
|
| | 87.5 | 27.9 | -44.8 | 102.0 | -25.4 | 80.8 | 46.0 | 59.2 | 0.8 |
| 15.1 | 15.6 | 15.9 | 10.0 | 14.4 | 14.7 | 13.3 | 10.4 | 10.1 | 9.1 |
| 14.7 | 3.5 | 3.1 | 1.7 | 3.4 | 2.5 | 4.6 | 0.5 | 3.0 | 9.9 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 0 | 6 | 6 | 12 | 12 | 12 | 12 | 42 | 85 | 85 |
| 4 | 22 | 30 | 38 | 46 | 54 | 70 | 112 | 105 | 144 |
Current Liabilities Current LiabilitiesCr | 11 | 12 | 15 | 19 | 23 | 18 | 27 | 37 | 59 | 66 |
Non Current Liabilities Non Current LiabilitiesCr | 2 | 1 | 1 | 3 | 3 | 2 | 1 | 2 | 4 | 6 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 10 | 31 | 43 | 13 | 27 | 31 | 72 | 98 | 159 | 175 |
Non Current Assets Non Current AssetsCr | 6 | 10 | 9 | 59 | 57 | 56 | 58 | 100 | 95 | 126 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | -5 | -8 | 49 | -3 | 2 | -15 | 7 | 8 |
Investing Cash Flow Investing Cash FlowCr | -5 | 0 | -49 | 3 | 0 | 1 | -44 | 9 |
Financing Cash Flow Financing Cash FlowCr | 19 | -1 | -1 | -1 | -2 | 18 | 41 | -15 |
|
Free Cash Flow Free Cash FlowCr | -10 | -9 | -1 | -1 | 1 | -16 | -34 | 5 |
| -80.3 | -107.0 | 1,214.2 | -33.0 | 37.9 | -139.5 | 44.3 | 33.0 |
CFO To EBITDA CFO To EBITDA% | -57.7 | -75.5 | 739.6 | -22.0 | 21.4 | -90.3 | 33.3 | 23.3 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 0 | 107 | 116 | 69 | 325 | 106 | 2,391 | 3,034 | 67 |
Price To Earnings Price To Earnings | 0.0 | 18.7 | 15.8 | 17.2 | 39.7 | 17.3 | 21.7 | 192.5 | 25.3 |
Price To Sales Price To Sales | 0.0 | 2.9 | 2.5 | 1.7 | 5.7 | 2.5 | 28.9 | 19.5 | 0.3 |
Price To Book Price To Book | 0.0 | 3.8 | 3.2 | 1.4 | 5.6 | 1.6 | 2.9 | 19.7 | 3.5 |
| 0.3 | 12.2 | 11.3 | 11.7 | 27.3 | 10.4 | 140.3 | 141.5 | 2.1 |
Profitability Ratios Profitability Ratios |
| 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
| 25.0 | 21.7 | 22.5 | 16.4 | 21.6 | 26.0 | 20.6 | 13.8 | 14.3 |
| 15.1 | 15.6 | 15.9 | 10.0 | 14.4 | 14.7 | 13.3 | 10.4 | 10.1 |
| 53.2 | 23.1 | 22.1 | 10.4 | 15.0 | 11.6 | 17.0 | 10.2 | 14.2 |
| 81.4 | 20.2 | 20.2 | 8.1 | 14.2 | 9.2 | 13.4 | 10.5 | 13.5 |
| 18.9 | 13.9 | 14.1 | 5.7 | 9.8 | 7.1 | 8.5 | 8.1 | 10.1 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Company Overview**
Vertoz Limited (formerly Vertoz Advertising Limited) is a globally recognized, AI-first technology platform listed on the National Stock Exchange (NSE) of India. Founded in 2012 and headquartered in Mumbai, Vertoz has evolved from a programmatic advertising firm into a dual-technology powerhouse, operating under two integrated segments: **MadTech (Marketing & Advertising Technology)** and **CloudTech (Digital Identity & Cloud Infrastructure)**.
The company serves a diversified global clientele including brands, enterprises, advertising agencies, publishers, SMEs, and technology partners across sectors such as BFSI, e-commerce, healthcare, education, real estate, and travel. With operations in India, the U.S., UAE, UK, Hong Kong, and Singapore, Vertoz delivers end-to-end digital transformation solutions powered by artificial intelligence, automation, and real-time data analytics.
---
### **Strategic Transformation & Business Segments**
#### **1. MadTech Platform (Marketing & Advertising Technology)**
- Accounts for **70–80% of total revenue**.
- Offers AI-driven, full-stack programmatic advertising solutions across digital channels including display, video, native, Connected TV (CTV), DOOH (Digital Out of Home), OTT, and mobile.
- Key proprietary platforms:
- **IngeniousPlex**: Self-serve DSP for media buying and campaign execution.
- **IncrementX**: Media representation and monetization platform for publishers (especially multicultural and niche audiences).
- **Adzurite**: Performance marketing platform with pay-after-performance model.
- **AdMozart**: Real-time ad exchange connecting demand and supply partners across global markets.
- Achieved **over 40% YoY growth in campaign volumes in FY2025**.
- Reported **INR 255.20 crores in FY2025 revenue** with **70% YoY growth in EBITDA to INR 36.44 crores**.
- Serves over **25,000 MadTech customers** and reaches **over 350 million users** globally.
#### **2. CloudTech Platform (Digital Identity & Cloud Infrastructure)**
- Contributes **20–30% of total revenue**, with strong cross-selling potential.
- Provides secure, scalable, and cost-efficient cloud infrastructure and digital identity solutions.
- Key platforms:
- **ConnectReseller**: ICANN-accredited top 50 global domain registrar; manages over **2 million domains** across 150+ TLDs in 60+ countries.
- **QualiSpace**: Full-suite cloud services provider offering hosting, cloud servers, enterprise email, SSL certificates, backup, and security to over **8,000 SMEs**.
- Manages **second-highest domain registration portfolio in India**.
- Reseller network expanded to **9,000+ active partners** with **95.5 crore in FY2023–24 revenue (UAE subsidiary VERTOZ FZ-LLC)**.
- Supports Vertoz’s MadTech systems as foundational infrastructure.
---
### **Recent Strategic Acquisition: Webimax LLC (Nov 2025)**
Vertoz Inc. (USA), a direct subsidiary of Vertoz Limited, signed a **definitive agreement** to acquire **Webimax LLC**, a US-based AI-driven reputation and marketing automation company headquartered in New Jersey, founded in 2008.
#### **Key Deal Terms:**
- **Enterprise Value**: USD 6.6 million (~INR 55 crore).
- **Payment Structure**:
- **80% upfront**: USD 5.28 million (including up to USD 0.4M contingent earn-out).
- **20% deferred**: Paid over 3 years based on performance milestones.
- **Funding Mechanism**: 75% debt from a leading Indian foreign trade financial institution; 25% internal cash flows.
- **Non-dilutive transaction** – no equity issuance, preserving shareholder value.
#### **Why Webimax?**
- **Complementary Expertise**: Webimax delivers AI-powered solutions in **search intelligence, sentiment analysis, predictive performance, automated lead discovery, and SEO consulting**.
- Recognized as **#1 Reputation Management Service Provider in 2024** by *Business.com, Newsweek, IBT, and Clutch*.
- Generated **$12 million in FY2024 revenue**, **$2.4 million adjusted EBITDA**, and **$1.8 million net profit**.
- Highly cash-generative with **debtor days of just 30 days**, reinforcing financial resilience.
#### **Strategic Rationale:**
- Combines Vertoz’s **AI-driven MADTech platforms** with Webimax’s **on-the-ground execution expertise**, **SEO capabilities**, and **established U.S. client base**.
- Positions Vertoz as a **one-stop digital transformation partner** for global advertisers, enabling end-to-end solutions from brand visibility to performance outcomes.
- Enables **cross-selling, shared services, and cost synergies** of **USD 2–3.5 million over 18–30 months**, driven by India-led efficiencies and AI optimization.
- Reinforces Vertoz’s **global expansion strategy**, particularly in the **North American market**, with 80% of revenue already coming from international markets.
**Post-acquisition Structure:**
- Webimax LLC becomes a **direct subsidiary of Vertoz Inc. (USA)** and a **step-down subsidiary of Vertoz Limited**, compliant under the Companies Act, 2013.
- Founder and CEO **Kenneth Wisnefski** remains with the company, bringing serial entrepreneurship experience (ex-founder of VendorSeek, acquired by NASDAQ-listed QuinStreet).
---
### **Global Operations & Subsidiary Network**
- **28 wholly-owned or majority-owned subsidiaries** across **India, USA, UAE, UK, and Hong Kong**.
- Major U.S. entities under **AdNet Holdings Inc**, including:
- **AdMeridian Inc** (NY-based DSP)
- **MediaXchange LLC, Adspectro LLC, Adokut Inc, Adcanny Inc, AdZesto Inc, Boffoads Inc, Flairads Inc, Admida Inc, OwnAdtech Inc**
- Vertoz India subsidiaries include **AdZurite Solutions Pvt. Ltd., Own Web Solution Pvt. Ltd., Increment X Pvt. Ltd., Perfomise Solutions (51% stake)**.
- Presence in **8+ cities**, **5 data centers**, processing **1.2 petabytes of data daily** and **1 million bids per second**.
- Operates **100+ digital properties**; manages **over 2.1 million domains**.
---
### **Growth Strategy**
#### **Organic Growth:**
- Focus on **AI enhancement**, **vertical diversification** (education via tie-up with XLRI), and **geographic expansion**.
- Launched high-impact influencer campaigns (e.g., Himalaya Turmeric Face Care: **134 million reach**) and performance marketing (Happilo: **100,000+ redemptions**).
- Revenue grew **17% YoY in Q1 FY2026 (Rs. 70.49 crore)**.
- **Five-year MadTech revenue CAGR of 28%+**.
#### **Inorganic Growth:**
- Completed prior mergers with **PayNX Group and QualiSpace in 2023–2024**, forming the **CloudTech division**.
- Strategic acquisition of **Cheerio Technologies (2023)** – SaaS marketing automation.
- Continues to pursue acquisition targets in **North America**, targeting the **$80 billion SME digital services market**.
- Dedicated M&A team in place to evaluate profitable, cash-generative technology firms.
#### **Future Targets:**
- **Revenue Goal**: INR 250 crores in FY25 (already achieved), with **sustained 30% annual growth anticipated in FY25–26**.
- **Profitability Goal**: **INR 100 crores PAT within the next 3 years**.
- **Margin Guidance**: 8–12% PAT margin; 15–20% EBITDA margin at scale.
---
### **Go-to-Market & Client Engagement**
- **B2B Model**: Direct partnerships with enterprises (e.g., banks, mutual funds).
- **P2P (Partner-to-Partner) Model**: Works with **WPP Group, Dentsu, PubMatic**, and other top agencies.
- Clients span **20+ domestic**, **30+ international**, serving **175+ countries**.
- No single customer accounts for >10% revenue – **highly diversified base**.
- Strong brand presence via **global conferences, PR, and event partnerships** (e.g., ET Education Summit).
---
### **Financial & Operational Strength**
- **Strong cash flow generation** enables **debt-funded M&A** without diluting existing shareholders.
- **High capital efficiency** with scalable internal team of **400+ professionals** (from 45 in 5 years).
- **Low customer acquisition cost (CAC)** for domains (~₹1,000), higher for MadTech (~₹20 lakh), offset by cross-selling and **ARPU expansion**.
- **Global tax efficiency**: ~60–70% revenue from lower-tax jurisdictions.
---
**Ticker**: NSE: VERTOZ
**Founded**: 2012
**Headquarters**: Mumbai, India
**Key Markets**: USA, UAE, India, UK, Southeast Asia
**Employees**: 400+
**Revenue (FY2025)**: INR 255.20 Crores
**Net Profit Margin Target**: 10%+
**Global Reach**: 175+ countries, 350+ million users
*“Empowering Digital Growth – From Identity to Impact.”*