Photon Capital Advisors Ltd

PHOTON

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Market Cap

₹ 15 Cr

P/E

—

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Investment Checklist

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Performance

MARKET LEADER

Valuation

REASONABLE

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bullish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Photon Capital Advisors Limited, based in Hyderabad, offers investment advisory services to hedge funds, family offices, and HNW individuals.

The company manages proprietary funds, although these are currently closed to external investors.

Photon Capital focuses on diverse asset classes, including equities, derivatives, debt, commodities, and real estate.

It has made notable investments, such as investing Rs. 8 crore in Calypso Technologies Inc. and another Rs. 8 crore in Nicosa Consulting Private Limited.

Sector

Finance

Industry

Finance - Small

Market Cap

15 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

20.4

PEG Ratio

—

P/B Ratio

2.0

52W High

118.45

52W Low

80.90

Sales CAGR

—

10Y

—

Profit CAGR

65.15%

—

10Y

—

ROE

TTM

-7.07%

-13.39%

-8.51%

10Y

-3.32%

ROCE

TTM

-3.84%

-3.25%

-2.72%

10Y

0.18%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ONTIC	2.00	18 Cr	16.67	4.74	0.00	28.99	35.59	22.54
BLUECHIP	3.21	18 Cr	—	0.00	0.00	48.27	-38.59	-56.43
GLFL	6.28	17 Cr	314.00	0.00	0.00	-1.42	0.99	0.95
MEHIF	32.00	16 Cr	31.68	0.93	0.00	2.95	2.80	2.75
PHOTON	102.00	15 Cr	—	1.99	0.00	-7.07	-3.84	-7.09
RRSECUR	44.92	14 Cr	345.54	2.86	0.00	0.85	0.45	0.99
JAYBHCR	22.63	11 Cr	—	0.00	0.00	1.77	222.10	-981.82

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	0.05	0.07	0.06	0.07	0.06	0.07	0.06	0.06	0.06	0.04
Expenses	0.14	0.11	0.23	0.06	0.11	0.11	0.12	0.12	0.15	0.13
Interest	0.00	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Financing Profit	-0.09	-0.04	-0.17	-0.00	-0.05	-0.04	-0.06	-0.06	-0.09	-0.09
Financing Margin %	-180.00	-57.14	-283.33	-0.00	-83.33	-57.14	-100.00	-100.00	-150.00	-225.00
Other Income	0.15	0.04	0.16	0.25	-0.08	0.25	-0.30	-0.05	0.08	0.31
Depreciation	0.00	0.00	0.00	0.03	0.01	0.01	0.01	0.01	0.01	0.01
Profit Before Tax	0.07	0.00	0.00	0.21	-0.14	0.19	-0.37	-0.12	-0.03	0.22
Tax %	0.00	—	—	1,071.43	0.00	0.00	0.00	-208.33	0.00	0.00
Net Profit	0.07	0.00	0.00	-2.04	-0.14	0.19	-0.37	-0.37	-0.03	0.22
EPS in Rs	0.44	-0.02	-0.02	-13.48	-0.93	1.26	-2.43	-2.43	-0.18	1.43
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	0.32	3.04	0.07	0.12	0.01	0.36	0.00	0.00	0.00	0.25
Expenses	0.64	0.43	0.93	0.55	0.41	0.41	0.45	0.55	0.48	0.50
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.00
Financing Profit	-0.32	2.61	-0.86	-0.43	-0.41	-0.05	-0.45	-0.56	-0.48	-0.25
Financing Margin %	-100.16	85.77	-1,182.09	-354.50	-6,593.55	-13.66	—	—	—	-100.00
Other Income	0.03	0.60	0.94	0.00	0.39	1.97	0.13	0.86	0.07	-0.02
Depreciation	0.04	0.04	0.00	0.00	0.00	0.00	0.00	0.03	0.03	0.04
Profit Before Tax	-0.33	3.17	0.08	-0.43	-0.02	1.92	-0.32	0.27	-0.44	-0.33
Tax %	87.31	6.18	6.36	-12.02	-546.58	1.10	-18.25	831.86	-55.77	-75.76
Net Profit	-0.04	2.98	0.08	-0.49	-0.14	1.90	-0.37	-1.98	-0.69	-0.58
EPS in Rs	-2.19	12.71	—	-3.52	-0.94	12.57	-2.46	-13.08	-4.53	-3.61
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2015	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1.51	1.51	1.51	1.51	1.51	1.51	1.51	1.51	1.51	1.51
Reserves	9.50	9.48	12	9.65	9.13	9.02	9.10	8.72	6.73	6.02
Borrowings	0.09	0.09	0.09	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	0.79	0.80	1.56	0.04	0.04	0.04	0.04	0.03	0.09	0.07
Total Liabilities	12	12	15	11	11	11	11	10	8.33	7.60
Fixed Assets	0.12	0.08	0.04	0.02	0.02	0.02	0.02	0.02	0.07	0.04
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	7.10	6.67	6.66	2.36	2.29	2.89	2.71
Other Assets	12	12	15	4.09	4.00	3.90	8.27	7.96	5.37	4.85
Total Assets	12	12	15	11	11	11	11	10	8.33	7.60

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2015	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.54	-0.22	-0.38	-1.00	-0.44	-0.41	-0.45	-0.56	0.03	-0.47
Cash from Investing Activity	-0.07	0.22	0.42	-4.97	0.41	0.43	4.86	-3.74	-0.08	0.72
Cash from Financing Activity	0.00	0.00	0.00	6.00	0.00	0.00	-0.00	-0.00	-0.03	-0.03
Net Cash Flow	-0.61	0.00	0.03	0.03	-0.03	0.02	4.41	-4.30	-0.08	0.22

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	74.89%	74.89%	74.89%	74.89%	74.89%	74.89%	74.89%	74.89%	74.89%	74.89%	74.89%	74.89%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	25.11%	25.11%	25.11%	25.11%	25.11%	25.11%	25.11%	25.11%	25.11%	25.11%	25.11%	25.11%
Total Shareholders	6,660	6,650	6,661	6,640	6,604	6,611	6,619	6,642	6,602	6,601	6,581	6,578

Projection

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Action Type

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Financial Statements

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Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	0.05	0.07	0.06	0.07	0.06	0.07	0.06	0.06	0.06	0.04
Expenses	0.14	0.11	0.23	0.06	0.11	0.11	0.12	0.12	0.15	0.13
Interest	0.00	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Financing Profit	-0.09	-0.04	-0.17	-0.00	-0.05	-0.04	-0.06	-0.06	-0.09	-0.09
Financing Margin %	-180.00	-57.14	-283.33	-0.00	-83.33	-57.14	-100.00	-100.00	-150.00	-225.00
Other Income	0.15	0.04	0.16	0.25	-0.08	0.25	-0.30	-0.05	0.08	0.31
Depreciation	0.00	0.00	0.00	0.03	0.01	0.01	0.01	0.01	0.01	0.01
Profit Before Tax	0.07	0.00	0.00	0.21	-0.14	0.19	-0.37	-0.12	-0.03	0.22
Tax %	0.00	—	—	1,071.43	0.00	0.00	0.00	-208.33	0.00	0.00
Net Profit	0.07	0.00	0.00	-2.04	-0.14	0.19	-0.37	-0.37	-0.03	0.22
EPS in Rs	0.44	-0.02	-0.02	-13.48	-0.93	1.26	-2.43	-2.43	-0.18	1.43
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	0.32	3.04	0.07	0.12	0.01	0.36	0.00	0.00	0.00	0.25
Expenses	0.64	0.43	0.93	0.55	0.41	0.41	0.45	0.55	0.48	0.50
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.00
Financing Profit	-0.32	2.61	-0.86	-0.43	-0.41	-0.05	-0.45	-0.56	-0.48	-0.25
Financing Margin %	-100.16	85.77	-1,182.09	-354.50	-6,593.55	-13.66	—	—	—	-100.00
Other Income	0.03	0.60	0.94	0.00	0.39	1.97	0.13	0.86	0.07	-0.02
Depreciation	0.04	0.04	0.00	0.00	0.00	0.00	0.00	0.03	0.03	0.04
Profit Before Tax	-0.33	3.17	0.08	-0.43	-0.02	1.92	-0.32	0.27	-0.44	-0.33
Tax %	87.31	6.18	6.36	-12.02	-546.58	1.10	-18.25	831.86	-55.77	-75.76
Net Profit	-0.04	2.98	0.08	-0.49	-0.14	1.90	-0.37	-1.98	-0.69	-0.58
EPS in Rs	-2.19	12.71	—	-3.52	-0.94	12.57	-2.46	-13.08	-4.53	-3.61
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2015	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1.51	1.51	1.51	1.51	1.51	1.51	1.51	1.51	1.51	1.51
Reserves	9.50	9.48	12	9.65	9.13	9.02	9.10	8.72	6.73	6.02
Borrowings	0.09	0.09	0.09	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	0.79	0.80	1.56	0.04	0.04	0.04	0.04	0.03	0.09	0.07
Total Liabilities	12	12	15	11	11	11	11	10	8.33	7.60
Fixed Assets	0.12	0.08	0.04	0.02	0.02	0.02	0.02	0.02	0.07	0.04
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	7.10	6.67	6.66	2.36	2.29	2.89	2.71
Other Assets	12	12	15	4.09	4.00	3.90	8.27	7.96	5.37	4.85
Total Assets	12	12	15	11	11	11	11	10	8.33	7.60

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2015	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.54	-0.22	-0.38	-1.00	-0.44	-0.41	-0.45	-0.56	0.03	-0.47
Cash from Investing Activity	-0.07	0.22	0.42	-4.97	0.41	0.43	4.86	-3.74	-0.08	0.72
Cash from Financing Activity	0.00	0.00	0.00	6.00	0.00	0.00	-0.00	-0.00	-0.03	-0.03
Net Cash Flow	-0.61	0.00	0.03	0.03	-0.03	0.02	4.41	-4.30	-0.08	0.22

Overview

Detailed Summary

Photon Capital Advisors Limited, based in Hyderabad, offers investment advisory services to hedge funds, family offices, and HNW individuals.

The company manages proprietary funds, although these are currently closed to external investors.

Photon Capital focuses on diverse asset classes, including equities, derivatives, debt, commodities, and real estate.

It has made notable investments, such as investing Rs. 8 crore in Calypso Technologies Inc. and another Rs. 8 crore in Nicosa Consulting Private Limited.

Sector

Finance

Industry

Finance - Small

Market Cap

15 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

20.4

PEG Ratio

—

P/B Ratio

2.0

52W High

118.45

52W Low

80.90

Sales CAGR

—

10Y

—

Profit CAGR

65.15%

—

10Y

—

ROE

TTM

-7.07%

-13.39%

-8.51%

10Y

-3.32%

ROCE

TTM

-3.84%

-3.25%

-2.72%

10Y

0.18%

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ONTIC	2.00	18 Cr	16.67	4.74	0.00	28.99	35.59	22.54
BLUECHIP	3.21	18 Cr	—	0.00	0.00	48.27	-38.59	-56.43
GLFL	6.28	17 Cr	314.00	0.00	0.00	-1.42	0.99	0.95
MEHIF	32.00	16 Cr	31.68	0.93	0.00	2.95	2.80	2.75
PHOTON	102.00	15 Cr	—	1.99	0.00	-7.07	-3.84	-7.09
RRSECUR	44.92	14 Cr	345.54	2.86	0.00	0.85	0.45	0.99
JAYBHCR	22.63	11 Cr	—	0.00	0.00	1.77	222.10	-981.82