Signpost India Limited was incorporated in 2008 as "Cartel Outdoor Advertising Private Limited" and was subsequently renamed to "Signpost India Limited" in 2014, before becoming a public limited company in 2022. The company, together with its subsidiaries, provides digital out-of-home (DOOH) advertising services in India. It is India's first and largest main street DOOH billboards and operates the world's largest digital bus queue shelter.
Based in Mumbai, India, Signpost India was founded by Dipankar Chatterjee and Shripad Ashtekar in 2008. Shripad Ashtekar serves as the managing director. The company has successfully evolved from a traditional outdoor advertising firm to a technology-driven digital out-of-home advertising leader in the Indian market.
Signpost India Ltd operates primarily in the digital out-of-home (DOOH) advertising domain. The company owns 33.9 million square feet of ad space, coupled with diverse ad-tech solutions, across various Indian markets. Its comprehensive portfolio of media assets includes:
- Street DOOH billboards
- Digital bus queue shelters
- Hybrid mobility solutions, such as e-bikes
- Traffic surveillance booths
- Street accessible libraries
- Skywalks, bus panels, airports, metro stations, and smart mobile vans
- Kiosks and public electric bicycle sharing systems
The company's engineers are involved in executing mega projects to build public spaces, ensuring commuter conveniences like extended transparent roofing, ergonomic and priority seating, tactile flooring, accessibility ramps, charging stations, SOS integration, mapped surrounding lavatories, and auditory notifications of upcoming buses. Additionally, Signpost India also sells space for advertisement in print media and provides public relations services.
Signpost India Limited is an independent ISO-certified media organization with extensive expertise in delivering large-scale public-oriented projects. These projects include street furniture, transit, public bicycle sharing, and internet traffic monitoring systems, implemented for over 32 government agencies across the country.
The company earns a significant portion of its revenue from non-traditional media assets. Approximately 79% of its revenue is derived from digital media, transit media, and street furniture. Notably, the proportion of transit media (buses, metro/trains, airports) and street furniture (bus shelters, skywalks, public libraries, and other public convenience spaces) increased by 10% to 56% compared to the previous year. This diversified portfolio of advertising assets across multiple formats and locations provides Signpost India with a strong competitive edge in the DOOH advertising space, with a strategic focus on Transit and Digital Media within the Out-of-Home (OOH) arena.
Signpost India Ltd currently has a market capitalization of ₹1,165 Crore as of April 30, 2025. According to Value Research classification, it is categorized as a Small Cap company.
- P/E Ratio: 22.98 times
- P/B Ratio: 5.25 times
- 52-Week High: ₹403.30
- 52-Week Low: ₹210.00
- TTM Revenue (Trailing 12-Month): ₹438.26 Crore
- TTM Profit (Trailing 12-Month): ₹51 Crore
- Annual Revenue Growth: 16%
- Pre-tax Margin: 17%
- Return on Equity (ROE): 23%
The company's revenues stood at ₹3,959 million in FY24, representing a 15.8% increase compared to ₹3,420 million reported in FY23. Net profit for the year grew by 25.0% year-over-year, with net profit margins improving from 10.5% in FY23 to 11.4% in FY24.
For March 2025, Signpost India reported net sales of ₹110.84 Crore, a 7.17% increase year-on-year. However, net profit experienced a significant decline of 94.84% to ₹0.92 Crore, and EBITDA fell by 59.45%. Signpost India Ltd's net profit decreased by 94.72% year-over-year to ₹0.94 Crore in Q4 FY2024-2025.
Revenue has shown a downward trend for the last three quarters, moving from ₹130.66 Crore to ₹112.09 Crore, with an average quarterly decrease of 7.2%. Similarly, net profit has also declined over the last three quarters, from ₹15.92 Crore to ₹0.94 Crore, reflecting an average quarterly decrease of 73.8%.
The company maintains a reasonable debt-to-equity ratio of 42%, indicating a healthy balance sheet. There is no promoter pledging in Signpost India Ltd, which is a positive sign for financial stability.
Signpost India Ltd's cash flow from operating activities (CFO) during FY24 stood at ₹636 million, a substantial improvement of 667.6% on a year-over-year basis. Overall, net cash flows for the company during FY24 were ₹74 million, a significant turnaround from the net cash outflow of ₹-20 million seen during FY23.
- April 28, 2025: Signpost India confirmed it is not classified as a Large Corporate as of March 31, 2025, in compliance with SEBI circulars.
- April 18, 2025: Mr. Nalin Kumar Somani was appointed as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), following the resignation of the previous CFO on the same date.
- 2023: The company launched its first Digital Bus Shelter in Worli, Mumbai.
- September 7, 2023: The Scheme of Arrangement for the merger of Pressman Advertising Limited with Signpost India Limited was implemented and sanctioned, becoming effective.
- March 2024: Signpost purchased a multi-story commercial property near Mumbai International Airport, which has been designated as the company's new headquarters.
Signpost India Ltd has delivered a return of -33.07% over the last one year. Over the past six months, the Signpost India share price has decreased by 2.48%, and it has fallen by 30.58% in the last one year.
From a technical standpoint, the stock is comfortably placed above its key moving averages, approximately 32% and 21% from its 50-Day Moving Average (DMA) and 200-DMA, respectively. According to O'Neil Methodology, the stock has an EPS Rank of 67 (considered a FAIR score), an RS Rating of 60 (also FAIR, indicating recent price performance), and a Master Score of B.
The company operates in the Communication Services sector, specifically within the Advertising sub-sector. Its peers in the industry include GMR Airports Ltd, OneSource Specialty Pharma Ltd, International Gemmological Institute (India) Ltd, Embassy Developments Ltd, Rites Ltd, CMS Info Systems Ltd, and Thomas Cook (India) Ltd.
