Aditya Infotech Limited

AIL enjoys strong market position in India within electronic security segment (video surveillance), with majority of turnover being contributed by its indigenous brand, ‘CP Plus’, which is a leading flagship security and surveillance brand. The company is also engaged in distribution of products of Dahua Technology (under brand name ‘Dahua’) which is one of the leading global players in ‘advanced video surveillance solutions’ with operations in over 180 countries. AIL has a long-standing relatio

The company has a deep penetration in India with more than 500 channel partners spread across 500+ towns in India and a network of local service and support at 52 locations, pan India. The distributors are spread across various states including Maharashtra, UP, Delhi, Punjab, Haryana, West Bengal, Chhattisgarh, Orissa, Gujarat, Rajasthan, Kerala, Tamil Nadu, Karnataka, etc. Long standing relation with supplier AIL has a long-standing relation with principal supplier Dahua Technology Limited for

AIL has a long-standing relation with principal supplier Dahua Technology Limited for which it acts as the exclusive distributor in India. AIL had also entered 50:50 Joint venture (JV) with Dixon Technologies (India) Limited in May’17 for captive manufactu ring of security systems including CCTVs & DVRs under ‘CP Plus’s brand name. The JV, named AIL Dixon Technologies Private Limited, commenced manufacturing CCTVs and DVRs in Jan’18. AIL essentially purchases the products manufactured by JV and

AIL’s promoters have been engaged in the business of computer software, IT hardware, and security products such as surveillance cameras and scanners for around 26 years, which has led to deep understanding of industry dynamics and technical know-how. The day-to-day business functions at AIL are spearheaded by Mr. Aditya Khemka, Managing Director, who has over twenty years of experience in the Indian Security and Surveillance industry. Mr. Aditya Khemka possesses technical competence and IT

During FY25 (referring to the period from April 01, 2024, to March 31, 2025), the company at a consolidated level reported y -o- y growth in the total operating income by ~12%, which stood at Rs.3,112.17 crore (PY: Rs. 2,783.33 crore). This growth is dri ven by volume expansion, capacity build-out, market leadership gains, and underlying industry growth, reinforced by shifting toward IP products with higher price points. The operating margin of the company stood almost stagnant at 7.96% in FY25

The total debt of the company stood at Rs.594.51 crore as on March 31, 2025, which primarily comprised of term loan of Rs.39.41 crore, liability on account of finance lease of Rs.44.47 crore and working capital loan of Rs.510.64 crore. The overall gearing ratio stood almost stagnant at 1.30x as on March 31, 2025 (PY: 1.30x). The same stood elevated above 1x over the past 3 fiscals owing to significant utilization of working capital limits. The debt coverage indicators also stood slightly moderat

Electronic surveillance equipment industry in India is competitive with top 3 brands, viz., CP Plus, Dahua, and Hikvision commanding ~70-75% market share while other brands like Zicom, Panasonic, Bosch, etc. make the remaining 25%. The lack of differentiation in the product offerings made the vendors adopt competitive pricing strategies. Hence, to tackle the competitiveness of the market, AIL has historically invested in building the brand CP Plus and its wide distribution network.

The company’s distribution business is highly working-capital-intensive. The company allows 2.5 – 3-month credit period to its customers due to competitive nature of the industry and avails a 120-days credit period from Dahua. Due to the same, the company has high dependence on working capital borrowing. However, the bargaining power of AIL vis-vis Dahua stems from the strategic importance it holds for the latter as its exclusive distributor and procurer of its components.

Though AIL’s sales are almost entirely domestic, it’s subsidiary imports 85% of its requirement for CCTV cameras and other materials in unassembled form from China, thus, exposing it to forex risk indirectly. However, the company enters hedging contracts, largely covering currency fluctuation risks. Additionally, AIL follows the policy of considering extra buffer in the ‘product costing’ to hedge any risk of unanticipated adverse movement in forex rates. While the risk remains, the overall high