AGS Transact Technologies Limited (AGSTRA)
₹2.13 -1.84% last close, 16 Oct
Latest quarterly results (Q3 FY25)
In its latest reported quarter, Q3 FY25, AGS Transact's revenue was ₹210 Cr (-43.9% year on year, -40.3% on the previous quarter), and net profit ₹-194 Cr (a bigger loss than a year earlier); the operating margin was -82.9%.
| Q3 FY25 (₹ Cr) | Value | YoY vs Q3 FY24 | QoQ |
|---|---|---|---|
| Revenue | ₹210 | -43.9% | -40.3% |
| Operating profit | ₹-174 | to loss | to loss |
| Net profit | ₹-194 | loss widened | to loss |
| EPS (₹) | -15.17 | loss widened | to loss |
| Operating margin | -82.9% | — | — |
AGSTRA exchange data
NSE end-of-day data for
It closed at a price band (circuit) on 14 sessions in about the last 20.
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
AGS Transact Technologies Limited has notified the exchanges that the 19th meeting of its Committee of Creditors (CoC) has been rescheduled to October 15, 2026, at 02:00 PM via video conferencing. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. With Rs 884 crore in debt and a market capitalization of just Rs 28 crore, the company faces severe financial distress. Outcomes from ongoing CoC meetings are critical in determining whether a resolution plan is approved or liquidation is initiated.
- 19th meeting of the Committee of Creditors rescheduled to October 15, 2026
- Meeting to be conducted at 02:00 p.m. via Video Conferencing
- Disclosure issued by Deemed Resolution Professional Brijendra Kumar Mishra
- Company is under Corporate Insolvency Resolution Process (CIRP)
AGS Transact Technologies announced that the 19th meeting of its Committee of Creditors (CoC) is scheduled to be held on October 15, 2026, via video conferencing. The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP) administered by Resolution Professional Brijendra Kumar Mishra. The company carries significant debt of ₹884 Cr against a market cap of ₹29 Cr, with TTM net losses standing at ₹-169 Cr. Any outcome from CoC meetings is critical to resolving outstanding claims and determining the operational continuity of the firm.
- 19th CoC meeting scheduled for October 15, 2026 at 03:00 p.m.
- Meeting to be conducted virtually through Video Conferencing
- Company operating under Corporate Insolvency Resolution Process (CIRP)
AGS Transact Technologies announced the closure of its trading window starting October 1, 2026, pursuant to SEBI Insider Trading regulations. The window will reopen 48 hours following the declaration of unaudited financial results for the quarter and half-year ending September 30, 2026. The filing also notes that the company remains under the Corporate Insolvency Resolution Process (CIRP) via an NCLT order dated August 25, 2025.
- Trading window closes effective Thursday, October 1, 2026
- Closure will last until 48 hours after financial results announcement for the period ended September 30, 2026
- Company is under Corporate Insolvency Resolution Process (CIRP) via NCLT order dated August 25, 2025
AGS Transact Technologies, currently under the Corporate Insolvency Resolution Process (CIRP), announced that its 18th Committee of Creditors (CoC) meeting will take place on September 25, 2026, via video conferencing. The company is under severe financial distress with a market capitalization of just Rs 28 Cr against total debt of Rs 884 Cr (debt is over 31x market cap). TTM net losses stand at Rs -169 Cr on revenues of Rs 1,251 Cr, leaving ongoing CIRP resolutions critical to the company's survival.
- 18th Committee of Creditors (CoC) meeting scheduled for Friday, 25th September 2026 at 12:00 P.M.
- Meeting to be conducted via Video Conferencing under CIRP regulations
- Resolution professional's AFA valid till 31.12.2026
- Company remains under insolvency with outstanding debt of Rs 884 Cr vs Rs 28 Cr market cap
AGS Transact Technologies Limited has announced that the 17th meeting of its Committee of Creditors (CoC) will take place on September 11, 2026, via video conferencing. The company is currently operating under the Corporate Insolvency Resolution Process (CIRP) administered by the Resolution Professional. AGS Transact carries significant debt of ₹884 Cr against a market cap of just ₹25 Cr and reported a TTM net loss of ₹-169 Cr. Any voting outcomes or resolution plans discussed during this meeting will directly dictate the operational continuity and equity status of the firm.
- 17th CoC meeting scheduled for Friday, 11th September 2026 at 11:30 A.M.
- Meeting conducted under the supervision of Resolution Professional Brijendra Kumar Mishra
- Company is currently undergoing Corporate Insolvency Resolution Process (CIRP)
- Company carries total debt of ₹884 Cr against net worth of ₹570 Cr and market capitalization of ₹25 Cr
AGS Transact Technologies Limited has informed the exchanges that the 16th meeting of its Committee of Creditors (CoC) is scheduled to be held on August 21, 2026, at 11:30 a.m. via video conferencing. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) overseen by the Resolution Professional. AGS Transact carries a total debt burden of Rs 884 Cr against a current market capitalization of just Rs 26 Cr.
- 16th meeting of the Committee of Creditors scheduled for August 21, 2026
- Meeting to be conducted via Video Conferencing at 11:30 a.m.
- Notice issued by Deemed Resolution Professional Brijendra Kumar Mishra
- Company remains under active Corporate Insolvency Resolution Process (CIRP)
AGS Transact Technologies (AGSTRA) has informed exchanges that it will miss the August 14, 2026, deadline for submitting Q1 FY27 financial results. The company has been under the Corporate Insolvency Resolution Process (CIRP) since August 25, 2025, following an NCLT order. Currently, the audit for the financial year ended March 31, 2025, is still in progress by M/s. BSR & Affiliates. Results for FY26 and Q1 FY27 will only be prepared after the FY25 audit is finalized, leaving investors without current financial data for over a year.
- Corporate Insolvency Resolution Process (CIRP) initiated by NCLT Mumbai on August 25, 2025
- Audit for FY25 (ended March 31, 2025) is still in progress as of August 12, 2026
- Auditor M/s. BSR & Affiliates was appointed by the Committee of Creditors on January 23, 2026
- Company will miss the regulatory deadline of August 14, 2026, for Q1 FY27 results submission
- Debt stands at Rs 884 Cr against a significantly eroded market cap of Rs 26 Cr
AGS Transact Technologies has submitted its quarterly compliance certificate under SEBI Regulation 74(5) for the period ending June 30, 2026. The certificate, issued by MUFG Intime India Private Limited, confirms that share certificates received for dematerialization were processed and the register of members updated within prescribed timelines. The company remains under the Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated August 25, 2025. This filing is a standard administrative requirement and does not reflect any change in the company's financial or operational status.
- Compliance certificate issued for the quarter ended June 30, 2026.
- Company continues to operate under Corporate Insolvency Resolution Process (CIRP) since August 25, 2025.
- Registrar MUFG Intime India Private Limited confirmed processing of dematerialization requests within prescribed timelines.
- TTM revenue stands at Rs 1,251 Cr with a net loss of Rs 169 Cr.
AGS Transact Technologies, currently under Corporate Insolvency Resolution Process (CIRP), has scheduled its 15th Committee of Creditors (CoC) meeting for July 16, 2026. The company is in significant financial distress with a TTM net loss of ₹169 Cr and a high debt-to-equity ratio of 1.55 (Debt: ₹884 Cr). This meeting is a critical procedural step in the insolvency resolution process, which could lead to a restructuring plan or liquidation. Equity investors should be aware that their interests are typically subordinated to creditors in such proceedings.
- 15th Committee of Creditors (CoC) meeting scheduled for July 16, 2026, at 11:00 a.m.
- Company is currently under Corporate Insolvency Resolution Process (CIRP) as per IBC.
- TTM Debt stands at ₹884 Cr against a Net Worth of ₹570 Cr (D/E of 1.55).
- TTM Net Profit is negative at ₹-169 Cr, with a recent quarterly loss of ₹194 Cr in Dec 2024.
AGS Transact Technologies has announced the closure of its trading window effective July 1, 2026, for the quarter ended June 30, 2026. The window will remain closed until 48 hours after the declaration of the unaudited financial results. Crucially, the company continues to operate under the Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated August 25, 2025. Financial health remains strained with a TTM net loss of ₹169 Cr and a high debt-to-equity ratio of 1.55.
- Trading window closed from July 1, 2026, for Q1 FY27 results preparation
- Company is currently under Corporate Insolvency Resolution Process (CIRP) as per NCLT order dated August 25, 2025
- TTM revenue stands at ₹1,251 Cr with a significant TTM net loss of ₹169 Cr
- Debt levels remain high at ₹884 Cr against a net worth of ₹570 Cr
AGS Transact Technologies Limited, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), has announced its 14th Committee of Creditors (CoC) meeting. The meeting is scheduled for June 22, 2026, at 3:00 PM via video conferencing to discuss the ongoing resolution process. The company is being managed by Deemed Resolution Professional Brijendra Kumar Mishra as per IBBI regulations.
- 14th meeting of the Committee of Creditors (CoC) to be held on June 22, 2026.
- Company is currently under Corporate Insolvency Resolution Process (CIRP).
- Meeting will be conducted via Video Conferencing starting at 03:00 PM.
- Brijendra Kumar Mishra is the appointed Deemed Resolution Professional (RP) for the process.
AGS Transact Technologies has failed to submit its audited financial results for the quarter and year ended March 31, 2026, missing the May 30, 2026 deadline. The company has been under the Corporate Insolvency Resolution Process (CIRP) since August 25, 2025, and is currently still auditing the previous year's (FY25) statements. Compounding the delay are significant personnel shortages in the finance department, board vacancies, and a technical failure rendering their SAP financial software inaccessible. Consequently, the audit for FY26 cannot commence until the FY25 audit is finalized and technical issues are resolved.
- Company is undergoing Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated August 25, 2025.
- Audit for the previous financial year (FY 2024-25) is still ongoing, preventing the start of the FY 2025-26 audit.
- Critical technical issue reported with SAP software, making financial data retrieval currently impossible.
- Severe governance and operational gaps cited, including vacancies in the Board of Directors, Audit Committee, and finance department.
Promoters Ravi B. Goyal and Vineha Enterprises Private Limited have filed their annual declaration under Regulation 31(4) of SEBI SAST Regulations for the financial year ending March 31, 2026. The promoters confirmed that no new encumbrances were created on their shareholding during the year. Most importantly, they declared that 0% of their equity shares are currently pledged or encumbered. However, the company remains under the Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated August 25, 2025.
- Promoters confirmed zero equity shares are pledged or encumbered as of March 31, 2026.
- No direct or indirect encumbrances were created during the 2025-2026 financial year.
- The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) since August 25, 2025.
- The disclosure was submitted by Brijendra Kumar Mishra, the Deemed Resolution Professional for the company.
AGS Transact Technologies has forfeited ₹28.65 crore after 1.44 crore convertible warrants lapsed due to non-payment of the balance 75% consideration. The warrants were originally issued in August 2024 at ₹79.25 each, but only 56.5 lakh were converted into equity shares before the 18-month deadline. This development is critical as the company is currently undergoing a Corporate Insolvency Resolution Process (CIRP) following an NCLT order in August 2025. The failure of promoters and other investors to fully exercise these warrants indicates significant liquidity or confidence issues.
- 1,44,59,100 warrants lapsed out of 2,01,09,100 originally allotted in August 2024.
- Total amount forfeited by the company stands at ₹28,64,70,918.75.
- Promoter groups (Ravi Goyal and Anupama Goyal Family Trusts) failed to convert 81.5 lakh warrants.
- The company is currently under Corporate Insolvency Resolution Process (CIRP) as of August 25, 2025.
- Only 56.5 lakh warrants were converted into equity shares during the 18-month tenure.
AGS Transact Technologies (AGSTRA) is currently undergoing the Corporate Insolvency Resolution Process (CIRP) as per the Insolvency and Bankruptcy Code. The company has announced that the 13th meeting of the Committee of Creditors (CoC) is scheduled for May 15, 2026, via video conferencing. This meeting is a critical step in determining the future of the company's debt resolution and operational status. The process is being managed by Brijendra Kumar Mishra, the Deemed Resolution Professional.
- 13th meeting of the Committee of Creditors (CoC) to be held on May 15, 2026.
- Company is officially under Corporate Insolvency Resolution Process (CIRP).
- Brijendra Kumar Mishra is acting as the Deemed Resolution Professional (RP).
- Meeting will be conducted via Video Conferencing as per SEBI Regulation 30 requirements.
Financial Performance
Revenue Growth by Segment
Total income for Q2 FY25 was INR 3,681 million, a decline of 5.3% compared to INR 3,886 million in Q2 FY24. Segment-wise, Securevalue India (Cash Management) reported INR 1,007 million, ITSL (Digital Payments) reported INR 256 million, and GTSL (Foreign Subsidiary) reported INR 203 million.
Geographic Revenue Split
The company operates across 2,200 cities and towns in India with 4,90,000 touchpoints. It has expanded internationally into Southeast Asia, specifically Sri Lanka, Philippines, and Cambodia through a Singapore-based subsidiary.
Profitability Margins
PAT turned positive to INR 152 million in Q2 FY25 from a loss in the previous year. Adjusted PAT margin for FY24 was -5.4% compared to 2.2% in FY23. The company is currently focused on contract renegotiations to improve profitability in the core cash payments segment.
EBITDA Margin
Consolidated EBITDA for Q2 FY25 was INR 1,047 million with a margin of 28.4%. Segment EBITDA margins were: Securevalue India (21.5%), ITSL (9%), and GTSL (32%).
Credit Rating & Borrowing
CRISIL Ratings assigned a 'Poor' liquidity rating due to high debt repayment obligations of ~INR 210 crore in fiscal 2025 and stretched receivables. Net debt stood at INR 6,839 million including reverse factoring.
Operational Drivers
Raw Materials
Hardware components for Cash Recycler Machines (CRMs), Cash Billing Terminals, and Digital Signage systems.
Capacity Expansion
Deployment of new Cash Recycler Machines (CRMs) is in progress for Q3 and Q4 FY25, which is expected to drive revenue growth in the core cash payments business.
Logistics & Distribution
The company is growing retail cash pickups to optimize its cash logistics network and expand revenue streams.
Strategic Growth
Growth Strategy
Growth will be achieved through the deployment of CRMs in H2 FY25, expansion of retail cash pickups, and a 5-year fixed-fee revenue contract for fuel and fleet management with Indian Oil.
Products & Services
Cash Recycler Machines (CRMs), Cash Billing Terminals, Digital Signage Software, and Prepaid Fuel Management Platforms.
Brand Portfolio
AGS Transact, Securevalue India (SVIL), ITSL.
New Products/Services
Fuel and fleet management program with Indian Oil, managing a prepaid platform with fixed-fee revenue over 5 years.
Market Expansion
Expansion into Southeast Asian markets including Sri Lanka, Philippines, and Cambodia.
Market Share & Ranking
One of India’s leading providers of end-to-end cash and digital payment solutions.
Strategic Alliances
Partnership with Indian Oil for a prepaid fuel and fleet management platform.
External Factors
Industry Trends
The industry is seeing a rapid evolution in payment landscapes; AGS is positioning itself to lead this by bridging cash and digital solutions through CRMs and its ITSL subsidiary.
Competitive Landscape
Operates in a competitive landscape of cash management and digital payment providers, competing on network reach and technology integration.
Competitive Moat
Moat is built on an extensive network of 4,90,000 touchpoints across 2,200 cities, creating high entry barriers for competitors in cash management and ATM outsourcing.
Macro Economic Sensitivity
Highly sensitive to the evolving Indian payments landscape and the shift between cash and digital transaction volumes.
Consumer Behavior
Shift toward digital payments is affecting traditional ATM usage, prompting the company to pivot toward Cash Recycler Machines (CRMs) and digital solutions.
Geopolitical Risks
Exposure to Southeast Asian markets (Philippines, Sri Lanka, Cambodia) introduces regional geopolitical and regulatory risks.
Regulatory & Governance
Industry Regulations
Complies with Section 148 of the Companies Act for cost audits and Section 204 for secretarial audits. Adheres to SEBI (LODR) Regulations for financial reporting.
Environmental Compliance
The company prepares a Business Responsibility and Sustainability Report (BRSR) as per SEBI Listing Regulations.
Taxation Policy Impact
Reported a total tax expense of INR 159 million in FY24.
Legal Contingencies
No significant and material orders have been passed by any regulators, courts, or tribunals impacting the going concern status.
Risk Analysis
Key Uncertainties
Liquidity risk is the primary uncertainty, with debt repayments exceeding expected cash accruals in FY25.
Geographic Concentration Risk
Heavy concentration in the Indian market (2,200 cities), though expanding internationally.
Third Party Dependencies
Dependency on banking partners for ATM and CRM deployment contracts.
Technology Obsolescence Risk
Risk of cash becoming obsolete; mitigated by investing in digital payment subsidiaries (ITSL) and CRMs.
Credit & Counterparty Risk
High risk from stretched receivables, particularly in the banking and retail sectors.
