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Yaap Digital Ltd

YAAP

NSE

₹101.00-4.72%19 Oct 2026

Reports

IT Services

Yaap Digital Ltd

YAAP

NSE

₹101.00

-4.72%

19 Oct 2026

SOICxStockScans Reports

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IT Services

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Forensic Report: Accounting quality and red flags.

Yaap Digital is India’s fastest-growing publicly listed digital marketing company, built to be the country’s first truly homegrown independent network in a sector where foreign players command nearly 90% of the market. Founded nearly a decade ago by Dr. Atul Hegde and listed on the NSE Emerge in March 2026, the company’s defining move was the strategic acquisition of Gozoop, a respected independent agency that brought a retainer-led business model, the HAWK reputation-management platform, and a strong Mumbai base into the fold. Everything Yaap does flows from a “3D philosophy” - Design, Discovery, and Distribution - that fuses creativity, data, and technology into one integrated platform rather than operating in silos like a traditional agency.

Business segments

A single integrated digital marketing platform - one business, three reinforcing pillars - that helps brands build identities, find audiences, and buy media, all under one roof.

1. Design and Discovery: the high-margin creative and intelligence engine

These are the services where brands are built and audiences are found - creative work, influencer campaigns, and reputation management that earn retainer fees and deliver structurally higher margins than media buying.

Brands pay for ideas, not just ads - the Design pillar covers brand identity, content creation, and consumer experiences, using data and AI-powered workflows to produce creative work at speed; the Discovery pillar adds influencer marketing, creator intelligence, and online reputation management to connect brands with the right audiences.
Retainers smooth out the seasonal rollercoaster - the Gozoop acquisition brought a retainer-led model where revenue spreads across twelve months, a sharp contrast to the project-based feast-and-famine pattern of the rest of the business; management expects this to lift the first-half revenue share to roughly 35-40%, up from a historical 30%.
HAWK makes clients sticky - half of Gozoop’s revenue comes from its HAWK online reputation management platform, a tech-plus-service offering that locks in clients with ongoing monitoring rather than one-off campaigns.
Clients who buy two or three pillars stay longer - the majority of Yaap’s customers purchase more than one of the three D services, and those buying two or three have a much longer lifecycle, which structurally reinforces retention.

2. Distribution: the scale-driving media engine

This is where the big budgets flow - performance marketing, programmatic ad buying, and analytics that turn brand strategy into measurable outcomes, even though the working capital demands are heavier.

Paid media at scale - the Distribution pillar deploys performance marketing, online media buying, programmatic advertising, adtech, and analytics to drive measurable business results for clients.
High volume, lower margin - the media business (Distribution) carries much lower margin percentages than the non-media business (Design and Discovery), so revenue mix shifts directly affect overall profitability.
Growth eats working capital - for every incremental rupee billed in the media business, the company needs roughly 40% to 50% of that amount in working capital, and the overall working capital cycle runs 80 to 110 days.
The calendar is the boss - Indian advertising is heavily skewed to the second half of the year, with 60-65% of category spends concentrated around the festival season and the IPL; historically, nearly 70% of Yaap’s revenue landed in H2.

3. Proprietary technology platforms: the tools that make the whole engine run faster

Five self-built and acquired platforms - spanning influencer marketing, video ad intelligence, AI content production, reputation management, and YouTube optimisation - give Yaap capabilities that a generic agency cannot replicate.

Buzzar turns influence into currency - a barter-based influencer marketing platform where 15 million-plus creators trade content and reach for brand experiences rather than cash, bypassing heavy campaign outlays; it has analysed over 1.3 billion pieces of content and audited more than 10,000 brands.
TAGS reads video like a human would - an AI-powered video advertising intelligence platform that analyses metadata, audio transcripts, and regional languages, performs sentiment analysis, and uses a predictive placement engine drawing on billions of data points to optimise ad performance on platforms where 60% of digital video spend happens.
The AI Studio collapses weeks into hours - a generative-AI creative unit where brand-governed AI models produce high-volume, hyper-personalised marketing assets - dynamic ad variations, rapid pitch prototypes, multi-language localisations - that are then refined by human curators, slashing production timelines and versioning costs while lifting return on ad spend through real-time optimisation.
VidPro+ and HAWK round out the stack - VidPro+ helps brands scale organically on YouTube, while HAWK (acquired with Gozoop) provides hyper-speciality online reputation management as a tech-plus-service layer.

Group structure and partners

A publicly listed Indian company with a recently acquired subsidiary, an active acquisition pipeline, and a founder-led leadership team navigating a sudden succession.

Listed, with a subsidiary in the fold - Yaap Digital Limited trades on the NSE Emerge under the symbol YAAP; its most significant structural move was the three-tranche acquisition of Gozoop Online Private Limited, with the first tranche (60.2% stake) completed in March 2026 for Rs. 56.62 crore, making Gozoop a subsidiary.
The deal is earn-out driven - Tranche 1 is priced at eight times normalised EBITDA, paid 80% in cash and 20% in Yaap equity, aligning the sellers over a three-year integration period.
More deals are on the radar - the company is actively hunting for acquisitions in the creator-tech space, specifically AI-led companies in the creator economy, and is pursuing targets in the GCC region to expand its geographic footprint beyond India, the UAE, and Singapore.
Founder-led, now in transition - Dr. Atul Hegde served as Chairman and Managing Director until his sudden passing in July 2026; the remaining leadership team includes the CFO, a Senior Partner, and heads of strategy and compliance.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

Charts

Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹209Cr

Close Price

₹100.05

Industry

IT Services

Price To Earnings

10.76

Price To Sales

1.13

Revenue

₹185Cr

Rev Gr TTM

Revenue Growth TTM

21.21%

PAT Gr TTM

PAT Growth TTM

98.04%

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2024	Mar 2025	Sep 2025	Mar 2026
Revenue RevenueCr	47	106	90	136
Growth YoY Revenue Growth YoY%			93.3	28.1
Expenses ExpensesCr	42	95	78	111
Operating Profit Operating ProfitCr	4	11	13	24
OPM OPM%	9.4	9.9	13.9	17.9
Other Income Other IncomeCr	1	1	1	3
Interest Expense Interest ExpenseCr	1	1	1	1
Depreciation DepreciationCr	0	0	0	1
PBT PBTCr	4	11	12	26
Tax TaxCr	1	2	3	7
PAT PATCr	3	8	9	19
Growth YoY PAT Growth YoY%			215.4	129.2
NPM NPM%	6.3	7.8	10.2	14.0
EPS EPS₹	0.0	0.0	0.0	9.3

Quarter	Sep 2024	Mar 2025	Sep 2025	Mar 2026
Revenue RevenueCr	47	106	90	136
Growth YoY Revenue Growth YoY%			93.3	28.1
Expenses ExpensesCr	42	95	78	111
Operating Profit Operating ProfitCr	4	11	13	24
OPM OPM%	9.4	9.9	13.9	17.9
Other Income Other IncomeCr	1	1	1	3
Interest Expense Interest ExpenseCr	1	1	1	1
Depreciation DepreciationCr	0	0	0	1
PBT PBTCr	4	11	12	26
Tax TaxCr	1	2	3	7
PAT PATCr	3	8	9	19
Growth YoY PAT Growth YoY%			215.4	129.2
NPM NPM%	6.3	7.8	10.2	14.0
EPS EPS₹	0.0	0.0	0.0	9.3

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue RevenueCr	37	72	67	113	153	185
Growth Revenue Growth%		97.8	-7.9	69.0	35.5	21.2
Expenses ExpensesCr	38	63	62	107	138	157
Operating Profit Operating ProfitCr	-2	9	4	6	15	28
OPM OPM%	-4.9	12.7	6.6	5.3	9.8	15.1
Other Income Other IncomeCr	0	0	1	1	2	4
Interest Expense Interest ExpenseCr	1	1	1	2	2	2
Depreciation DepreciationCr	0	0	0	0	0	1
PBT PBTCr	-3	8	4	5	15	29
Tax TaxCr	0	2	1	2	4	7
PAT PATCr	-3	6	3	3	11	22
Growth PAT Growth%		348.7	-56.0	-8.4	347.4	98.0
NPM NPM%	-6.8	8.6	4.1	2.2	7.3	12.0
EPS EPS₹	-14.0	38.0	16.8	1.7	67.3	12.1

Financial Year	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue RevenueCr	37	72	67	113	153	185
Growth Revenue Growth%		97.8	-7.9	69.0	35.5	21.2
Expenses ExpensesCr	38	63	62	107	138	157
Operating Profit Operating ProfitCr	-2	9	4	6	15	28
OPM OPM%	-4.9	12.7	6.6	5.3	9.8	15.1
Other Income Other IncomeCr	0	0	1	1	2	4
Interest Expense Interest ExpenseCr	1	1	1	2	2	2
Depreciation DepreciationCr	0	0	0	0	0	1
PBT PBTCr	-3	8	4	5	15	29
Tax TaxCr	0	2	1	2	4	7
PAT PATCr	-3	6	3	3	11	22
Growth PAT Growth%		348.7	-56.0	-8.4	347.4	98.0
NPM NPM%	-6.8	8.6	4.1	2.2	7.3	12.0
EPS EPS₹	-14.0	38.0	16.8	1.7	67.3	12.1

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	2	2	2	2	2	21
Reserves ReservesCr	2	8	9	8	21	88
Current Liabilities Current LiabilitiesCr	32	38	30	64	74	76
Non Current Liabilities Non Current LiabilitiesCr	8	8	8	17	19	20
Total Liabilities Total LiabilitiesCr	44	56	49	91	115	217
Current Assets Current AssetsCr	34	45	31	77	98	152
Non Current Assets Non Current AssetsCr	10	11	18	14	17	65
Total Assets Total AssetsCr	44	56	49	91	115	217

Financial Year	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	2	2	2	2	2	21
Reserves ReservesCr	2	8	9	8	21	88
Current Liabilities Current LiabilitiesCr	32	38	30	64	74	76
Non Current Liabilities Non Current LiabilitiesCr	8	8	8	17	19	20
Total Liabilities Total LiabilitiesCr	44	56	49	91	115	217
Current Assets Current AssetsCr	34	45	31	77	98	152
Non Current Assets Non Current AssetsCr	10	11	18	14	17	65
Total Assets Total AssetsCr	44	56	49	91	115	217

Consolidated

Standalone

Financial Year	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-7	2	25	35	-6	-35
Investing Cash Flow Investing Cash FlowCr	1	0	-4	2	-3	-47
Financing Cash Flow Financing Cash FlowCr	-1	-2	-1	2	-1	76
Net Cash Flow Net Cash FlowCr	-7	0	20	39	-10	-7
Free Cash Flow Free Cash FlowCr	-6	2	25	35	-9	-40
CFO To PAT CFO To PAT%	277.6	32.3	896.0	1,400.5	-53.6	-158.6
CFO To EBITDA CFO To EBITDA%	385.2	21.8	555.2	587.2	-40.3	-126.2

Financial Year	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-7	2	25	35	-6	-35
Investing Cash Flow Investing Cash FlowCr	1	0	-4	2	-3	-47
Financing Cash Flow Financing Cash FlowCr	-1	-2	-1	2	-1	76
Net Cash Flow Net Cash FlowCr	-7	0	20	39	-10	-7
Free Cash Flow Free Cash FlowCr	-6	2	25	35	-9	-40
CFO To PAT CFO To PAT%	277.6	32.3	896.0	1,400.5	-53.6	-158.6
CFO To EBITDA CFO To EBITDA%	385.2	21.8	555.2	587.2	-40.3	-126.2

Consolidated

Standalone

Financial Year	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr						289	209
Price To Earnings Price To Earnings						15.7	10.8
Price To Sales Price To Sales						1.6	1.1
Price To Book Price To Book						2.7	1.9
EV To EBITDA EV To EBITDA						9.9	7.5
Profitability Ratios Profitability Ratios
GPM GPM%	25.3	35.2	30.0	33.8	32.9	49.6	49.6
OPM OPM%	-4.9	12.7	6.6	5.3	9.8	15.1	15.1
NPM NPM%	-6.8	8.6	4.1	2.2	7.3	12.0	12.0
ROCE ROCE%	-12.0	52.0	26.0	19.1	36.5	21.7	21.7
ROE ROE%	-76.2	65.2	25.1	25.2	50.4	20.5	20.5
ROA ROA%	-5.7	11.1	5.5	2.8	9.7	10.3	10.3
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr						289	209
Price To Earnings Price To Earnings						15.7	10.8
Price To Sales Price To Sales						1.6	1.1
Price To Book Price To Book						2.7	1.9
EV To EBITDA EV To EBITDA						9.9	7.5
Profitability Ratios Profitability Ratios
GPM GPM%	25.3	35.2	30.0	33.8	32.9	49.6	49.6
OPM OPM%	-4.9	12.7	6.6	5.3	9.8	15.1	15.1
NPM NPM%	-6.8	8.6	4.1	2.2	7.3	12.0	12.0
ROCE ROCE%	-12.0	52.0	26.0	19.1	36.5	21.7	21.7
ROE ROE%	-76.2	65.2	25.1	25.2	50.4	20.5	20.5
ROA ROA%	-5.7	11.1	5.5	2.8	9.7	10.3	10.3
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	ALANKIT	GOLDTECH	EQUIPPP	YAAP	INTENTECH	PRARUH	NBL
Market CapitalizationMkt CapCr	218	217	214	209	206	194	184
Close PriceClose₹	7.16	41.59	20.77	100.05	87.00	139.00	155.00
IndustryIndustry	IT Services	IT Services	IT Services	IT Services	IT Services	IT Services	IT Services
Price To EarningsPE	10.08		109.32	10.76		19.91	20.13
Price To SalesPS	0.66	1.52	4.46	1.13	1.64	1.92	10.46
RevenueRevenueCr	330	143	48	185	125	101	18
Revenue Growth TTMRev Gr TTM%	0.1%	58.1%	196.3%	21.2%	-11.3%	63.4%	44.1%
PAT Growth TTMPAT Gr TTM%	0.7%	-146.6%	83.2%	98.0%	-232.8%	40.2%	84.9%

	ALANKIT	GOLDTECH	EQUIPPP	YAAP	INTENTECH	PRARUH	NBL
Market CapitalizationMkt CapCr	218	217	214	209	206	194	184
Close PriceClose₹	7.16	41.59	20.77	100.05	87.00	139.00	155.00
IndustryIndustry	IT Services	IT Services	IT Services	IT Services	IT Services	IT Services	IT Services
Price To EarningsPE	10.08		109.32	10.76		19.91	20.13
Price To SalesPS	0.66	1.52	4.46	1.13	1.64	1.92	10.46
RevenueRevenueCr	330	143	48	185	125	101	18
Revenue Growth TTMRev Gr TTM%	0.1%	58.1%	196.3%	21.2%	-11.3%	63.4%	44.1%
PAT Growth TTMPAT Gr TTM%	0.7%	-146.6%	83.2%	98.0%	-232.8%	40.2%	84.9%

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