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← CockpitCompetitor Analysis › SIGMAADV.NS Sigma Advanced Systems LimitedOpen in the cockpit ↗

Sigma Advanced Systems LimitedSIGMAADV.NSCompetitor analysis, valuation and peers

India · INR·IT›Information Technology Services

Hyderabad-based aerospace and defence company making avionics, naval systems, radars, missile components and drones.

≈ A smaller Indian defence-electronics prime with a UK manufacturing footprintMomentum leader 100
Mkt cap
$1.83B
US dollars, full cap
Free float
36%
of shares outstanding
$/day
$2.83M
20-day average traded
Fwd P/E
n/m
no positive forecast
ROIC−WACC
-4.0 pp
WACC 20.0%
Hurdle
n/a
no reverse DCF
Close · INR₹909.25
1D-2.2%
1W+2.1%
1M-16.7%
3M+31.4%
6M+195.7%
YTD+383.5%
1Y+351.7%
ATR %6.2%
Beta0.91
52w lowhigh21.9% off high

What Sigma Advanced Systems does

Hyderabad-based aerospace and defence company making avionics, naval systems, radars, missile components and drones.

In one line: A smaller Indian defence-electronics prime with a UK manufacturing footprint.

Products and services

  • Avionics systems
  • Radar systems
  • Drones/counter-drone systems
  • Naval systems & missile components

Customers

  • Indian defence forces/MoD
  • Export defence customers (including North America)

Where it sits in the supply chain

  • Aerospace & defence
  • Defence electronics manufacturing
  • Avionics, radar, missile & drone…

What could go right

  • India defence indigenization push
  • Export order growth

What could go wrong

  • Defence-order lumpiness
  • Execution risk on large export contracts

Moat: narrow (regulatory licence, IP / patents). Defence manufacturing licences and qualified export contracts, including a large North American order, support entry barriers.

Headquarters: Hyderabad, India · Founded: 1999 · Employees: 700

Named competitors

Sigma Advanced Systems at a glance

Size Sigma Advanced Systems (SIGMAADV.NS) is an India Information Technology company (Information Technology Services) with a market value of $1.83B, the 389th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹909.25 on 6 Nov 2026.

Performance Over six months the shares gained 195.7%, against -7.4% for the median peer and 0.0% for the India market (cap-weighted) — highest of 21 in its peer set.

Growth Revenue grew 358.2% over the last twelve months (peer median +6.0%); the operating margin is 11.9% (peer median 7.8%).

Valuation It trades at 20.5× enterprise value to sales against a peer median of 2.5× (3rd most expensive of 19).

Capital Return on invested capital runs 4.0 points below its cost of capital (20.0% WACC).

Relative performance

10020030011 May 202611 Aug 20266 Nov 2026SIGMAADV.NS 282Peer median 93
Six months, rebased to 100: Sigma Advanced Systems against the median of its 20 peers (local-currency closes).

Sigma Advanced Systems financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₹8.43B₹4.92B₹1.07B₹0₹19.7M
Revenue growth—+358%—-100%—
Gross profit₹2.77B₹988M₹219M-₹53.1M-₹56.4M
EBITDA₹1.21B₹418M₹156M-₹88.1M-₹177M
Net income₹1.52B₹2.68B-₹140M-₹127M₹88.3M
Free cash flown/a-₹2.94B-₹147M-₹28.5M₹69.7M
Capital expendituren/a₹690M₹174M₹112M₹15.4M
Total debtn/a₹3.32B₹1.48B₹1.47B₹1.46B

Quarterly statements and history in the cockpit →

Sigma Advanced Systems competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

0%+50%+100%+150%0%+20%CNXCATENCAMS002268FORTYKNOS30046994493697OMCLATEA002987CNXN4373YSNMGRTZENTECGLOB600850600410SIGMAADV.NS6-month return →1-month return →
Up and to the right = strong over both horizons. Sigma Advanced Systems is the large dot.

Fundamentals: revenue growth against valuation

0%+100%+200%+300%0×1,000×2,000×CNXCATENMGRTSIGMAADV.NSRevenue growth (TTM) →EV / Sales →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Sigma Advanced Systems is the large dot.

Sigma Advanced Systems competitors and peer comparison

Head to head with its named competitors (SIGMAADV.NS vs ZENTEC.NS vs BEL.NS vs DATAPATTNS.NS)
CompanyMarket cap6M returnRevenue growthOp. marginEV / SalesReq g
Sigma Advanced Systems SIGMAADV.NS$1.83B+196%+358%12%20.5×n/a
Zen Technologies ZENTEC.NS$1.64B+6%+4%31%17.8×53.0%
Bharat Electronics BEL.NS$30.6B-10%+20%26%9.2×38.2%
Data Patterns (India) DATAPATTNS.NS$2.24B-11%+34%37%22.4×61.0%

How Sigma Advanced Systems compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Sigma Advanced Systems against its 20 peers (data as of 6 Nov 2026)
MeasureSIGMAADV.NSPeer medianRank in peer set
1-month return-16.7%-0.4%2nd lowest of 21
6-month return+195.7%-7.4%highest of 21
Distance from 52-week high-21.9%-32.2%9th highest of 21
Revenue growth (TTM)+358.2%+6.0%highest of 21
Operating margin11.9%7.8%6th highest of 21
EV / Sales20.5×2.5×3rd most expensive of 19
ROIC minus cost of capital-4.0 pp-0.0 pp7th lowest of 18
Net debt / EBITDA2.5×-0.4×2nd most indebted of 13

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginEV / SalesReq gDelivered g
Sigma Advanced Systems SIGMAADV.NSIndia$1.83B+196%+358%12%20.5×n/an/a
Concentrix CNXCUnited States$1.85B+25%+3%8%0.7×-11.9%+15.8%
A10 Networks ATENUnited States$1.80B-11%+12%17%5.4×16.7%+5.2%
Computer Age Management Services CAMS.NSIndia$1.87B-15%+9%39%n/an/an/a
CETC Cyberspace Security Technology 002268.SZChina$1.77B-11%-3%1%4.5×n/an/a
Formula Systems (1985) Ltd. Sponsored ADR FORTYUnited States$1.75B-26%+1%8%0.7×-3.4%+6.3%
Kainos KNOS.LUnited Kingdom$1.92B+57%+17%11%3.1×21.7%+12.9%
Transportation Telecommunication and Information Development Inc. Ltd. Zhejiang 300469.SZChina$1.72B-18%-15%-102%51.2×n/an/a
GMO Internet 9449.TJapan$1.94B-4%+6%21%n/an/an/a
Shift 3697.TJapan$1.71B+61%+24%11%1.7×-2.2%+28.6%
Omnicell OMCLUnited States$1.70B-15%+6%5%1.2×11.7%+5.8%
Atea ATEA.OLNorway$1.99B+6%+12%4%0.5×-5.0%-1.1%
Northking Information Technology 002987.SZChina$1.67B-14%+1%6%2.2×16.2%+16.1%
PC Connection CNXNUnited States$2.00B+19%+10%4%0.5×n/an/a
Simplex Holdings,Inc 4373.TJapan$1.66B+25%+20%23%4.2×12.4%+16.3%
secunet Security Networks YSN.DEGermany$1.66B+20%+13%11%3.1×n/an/a
Mega Fortune MGRTUnited States$1.65B-14%-8%-37%2,072.0×n/an/a
Zen Technologies ZENTEC.NSIndia$1.64B+6%+4%31%17.8×53.0%+66.0%
Globant GLOBUnited States$2.05B+21%-1%10%1.0×-1.2%+24.7%
CETC Digital Technology 600850.SSChina$1.62B-18%-1%2%1.2×19.1%+5.8%
Beijing Teamsun Technology 600410.SSChina$2.09B-42%+19%-9%2.7×26.0%+3.6%

Questions

Who are Sigma Advanced Systems's main competitors?
Named competitors: Zen Technologies (ZENTEC.NS), Bharat Electronics (BEL.NS), Data Patterns India (DATAPATTNS.NS). The cockpit's measured peer set (industry) also includes Concentrix (CNXC), A10 Networks (ATEN), Computer Age Management Services (CAMS.NS), CETC Cyberspace Security Technology (002268.SZ), Formula Systems (1985) Ltd. Sponsored ADR (FORTY), Kainos (KNOS.L).
Is Sigma Advanced Systems expensive compared with its peers?
On ev / sales it trades at 20.5× against a peer median of 2.5×, 3rd most expensive of 19 in its peer set.
How has Sigma Advanced Systems stock performed?
Over six months to 6 Nov 2026 the shares returned +195.7% against -7.4% for the median peer; over one year +351.7%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.