Admach Systems Ltd

BSE: 544669

₹ 468.85-4.99%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 318 crNext results: 26 Oct 2026Website: www.admach.co.inUpdated: 24 Oct 2026

About

Admach Systems, established in 2008, designs, develops, manufactures and installs customised Special Purpose Machinery (SPMs) and advanced industrial systems, including NDT and X-ray inspection systems. It reported FY26 revenue of Rs 68.91 crore and exports to more than 28 countries. It listed its equity shares on the BSE SME Platform during FY26.^[1][2]

Products and portfolio

As of FY26, the portfolio has six product families: NDT & X-ray inspection systems, SPMs, steel processing solutions, pipe industry solutions, material handling & packaging solutions, and automation & engineering solutions.^[1]
Its NDT products include Magnetic Particle Inspection machines, Ultrasonic Testing systems, Magnetic Flux Leakage systems and X-ray inspection systems (FY26).^[1]
The company says it designed and manufactured India's first fully automatic high-speed steel bar straightener.^[1]
The FY26 annual report discloses no segment reporting.^[1]

Order book and pipeline

Order book stood at INR 69.04 crore (with GST) as of 30 Sep 2026, up from about INR 65 crore at Q4 FY26.^[3][4]
Quoted pipeline exceeded INR 200 crore at Q4 FY26, and management cited a 60-65% conversion rate.^[4]
Customer advances were INR 9.74 crore at Q4 FY26.^[4]

Operations and manufacturing

New CNC machines (laser cutting, press brake, tapping) were installed. Management expects the in-house share of manufacturing to move from 30% before the capex to 70% (Q4 FY26).^[4]
Management said the current facility can support up to INR 200 crore of revenue, and land has already been bought for Units 2 and 3 (Q4 FY26).^[4]
It works with European technology partners, including IAS GmbH (Germany) and Sofratest (France), to develop ultrasonic NDT machines.^[1]

Customers and markets

Named customers include Tata Steel, ArcelorMittal DSTCFZE (UAE), Blue Star, Kalyani Hospet, Schuler Pressen and VisiConsult.^[1]
It served more than 34 customers in FY26, and more than 13 customers have been with it for over 15 years.^[1]
End industries include defence, nuclear & atomic energy, aerospace, mining, steel, automobile, food processing and tooling.^[1]
Domestic revenue was 92.38% of the total in FY26 vs 87.39% in FY25. International revenue was 7.16% vs 12.61%.^[1]
It has supplied missile and shell X-ray inspection systems to Brazil, Taiwan and Korea (as of Q4 FY26 call).^[4]

New products and growth initiatives

It is entering bright bar and superfinishing equipment. It supplied a billet conditioning line to Tata Steel through a partnership with Braun Maschinenfabrik (Austria) and has 3-4 more enquiries (Q4 FY26).^[4]
Management said 1-2 pending machines are due by July 2026 and no major capex is planned for FY27.^[4]

Recent developments

30 Sep 2026: it received a Rs 53.10 lakh (with GST) domestic order for an NDT machine setup, to be executed within 13 weeks.^[3]
Q4 FY26: it holds a ~INR 10 crore order from Nuclear Fuel Complex for execution by September 2026, with similar projects in the pipeline.^[4]
Q4 FY26: six direct export projects for a US pipe-industry customer were under execution.^[4]

Market Cap

₹318 Cr

High / Low

₹525 / 179

Stock P/E

31.7

Price / Book

0.0

Book Value

₹104

EPS

₹14.8

No. of Shares

0.68 Cr

ROCE

18.2%

ROE

14.2%

OPM

18.5%

Debt / Equity

0.01

Sales

₹69 Cr

Net Profit

₹10 Cr

Promoter holding

53.0%

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