Aditya Infotech says market share reached 42% by September

Aditya Infotech Limited said its estimated share of India’s video-surveillance market reached about 42% in the twelve months to September 2026, up from 30% at its IPO. The company disclosed the estimate alongside Q2 FY27 revenue of Rs 1,746.0 crore, which increased 89.9% year on year.

How did AIL’s video-surveillance market share change?

AIL said its share of India’s video-surveillance market rose by about 12 percentage points, from 30% at the IPO to about 42% in the twelve months to September 2026. The company explicitly described the 42% figure as a company estimate, rather than disclosing an independently verified industry measurement.

The market-share period differs from the company’s reported financial periods. The 42% figure covers the trailing twelve months to September 2026, while the unaudited Q2 FY27 and H1 FY27 results are for the quarter and half year ended September 30, 2026, respectively. The release does not provide market-share data for Q2 FY27 alone.

AIL linked its stated leadership position to capacity expansion, research and development, and a growing distribution network for CP PLUS. The company did not disclose the size of the overall Indian video-surveillance market, sales by competitor, or the calculation used to derive its 42% estimate.

What changed in AIL’s product and brand mix?

CP PLUS contributed about 88% of AIL’s Q2 FY27 revenue, compared with about 86% in Q2 FY26. The two-percentage-point increase in the brand’s contribution coincided with Q2 FY27 consolidated revenue of Rs 1,746.0 crore, up 89.9% year on year.

Internet Protocol, or IP, products represented about 79% of the CP PLUS portfolio in Q2 FY27, against about 71% in Q2 FY26. This eight-percentage-point shift occurred as AIL reported increasing adoption of higher-value intelligent surveillance solutions, although the release does not quantify IP-product revenue or unit sales.

For H1 FY27, AIL also said IP products accounted for about 79% of the CP PLUS portfolio and CP PLUS contributed about 88% of revenue. Gross margin was 30.0% in Q2 FY27, up 24 basis points year on year, and 30.4% in H1 FY27, up 374 basis points, with AIL attributing the movement to product and brand mix.

How did AIL’s Q2 FY27 results compare with H1 FY27?

AIL reported revenue growth of nearly 90% in both periods, while earnings before interest, tax, depreciation and amortisation, or EBITDA, and profit after tax before exceptional items increased faster. Q2 FY27 revenue was Rs 1,746.0 crore and H1 FY27 revenue was Rs 3,148.4 crore.

Q2 FY27 EBITDA margin was 17.6%, an increase of 552 basis points year on year, while H1 FY27 EBITDA margin was 16.3%, up 576 basis points. AIL attributed the margin expansion in both periods to a favourable product and brand mix and improved operational efficiencies.

Profit after tax before exceptional items was Rs 219.9 crore in Q2 FY27, up 214.2% year on year, and Rs 362.1 crore in H1 FY27, up 252.0%. AIL cited a 14.0% year-on-year reduction in finance cost for Q2 and a 41.1% reduction for H1, together with cost efficiencies, as factors behind the profit movement.

What are AIL’s capacity, funding and technology plans?

AIL’s current manufacturing capacity is 2.5 million units per month, and it plans to more than double capacity through Kadapa Phase III and a new Greater Noida facility. The company said the projects will be funded from qualified institutions placement, or QIP, proceeds, but did not disclose commissioning dates, project costs or planned utilisation levels.

The company completed a Rs 1,500 crore QIP during Q2 FY27 and reported net cash of Rs 1,071.2 crore as at September 30, 2026. AIL said it repaid all borrowings in October 2026 and plans to use QIP proceeds for repayment of borrowings, capital expenditure, inorganic growth through acquisitions and general corporate purposes.

On November 5, 2026, AIL signed definitive agreements to invest Rs 45.4 crore for a 30% fully diluted stake in BLUE, or KGraph AI Solutions Pvt Ltd, which it described as a video-compression technology company. AIL is to receive one board seat and one observer seat, while completion remains subject to customary conditions.

AIL also disclosed a festive-season CP PLUS campaign featuring Ranveer Singh as brand ambassador, supported by Indian-cricket branding and out-of-home advertising at major Indian airports. The release does not state the campaign cost, the duration of the arrangement, or a measured sales effect from the marketing activity.

What is AIL’s FY27 financial guidance?

AIL management raised FY27 revenue guidance to Rs 6,500 crore to Rs 6,800 crore, with EBITDA margin expected at 14.0% to 15.0% and profit-after-tax margin at 9.0% to 10.0%. These are management expectations, not reported results, and the company’s release states that forward-looking statements are subject to risks, uncertainties and assumptions.

The revised revenue range is above the Rs 3,148.4 crore reported for H1 FY27, meaning delivery against the guidance depends on second-half execution. Management said its focus remains on disciplined execution, technology development and wider market reach, while the release provides no quarterly revenue or margin target for the second half.

The planned capacity expansion, the BLUE transaction and the QIP-funded uses are all relevant to the company’s stated market-position strategy. However, AIL did not give a target market share beyond the approximately 42% estimate for the twelve months to September 2026.

Conclusion

AIL’s reported market-share estimate points to a change from 30% at the IPO to about 42% in the twelve months to September 2026. The disclosure came with 89.9% Q2 FY27 revenue growth, a higher CP PLUS revenue contribution of about 88%, and an IP-product share of about 79% of the CP PLUS portfolio versus about 71% a year earlier.

What to watch next is execution against management’s FY27 guidance of Rs 6,500 crore to Rs 6,800 crore in revenue, the planned more-than-doubling of 2.5 million units of monthly capacity through Kadapa Phase III and Greater Noida, and completion of the Rs 45.4 crore BLUE investment subject to customary conditions.