Simca Advertising Ltd. (SIMCA) — Tipsheet https://tipsheet.markets/company/simca/ Every Tipsheet Editorial note covering Simca Advertising Ltd. (SIMCA), newest first. Grounded in BSE/NSE primary-source filings. en-in Tue, 28 Jul 2026 14:38:36 GMT Simca's SBI contract is running hot. Management's own numbers don't add up. https://tipsheet.markets/simca-simca-s-sbi-contract-is-running-hot-management-s-own-numbers-don-t-add-up-106444/ https://tipsheet.markets/simca-simca-s-sbi-contract-is-running-hot-management-s-own-numbers-don-t-add-up-106444/ Mon, 08 Jun 2026 15:13:34 GMT FY26 revenue surged 75% to ₹127.8 crore on the back of the State Bank of India deal. But the concall summary flags contradictions in the guidance and billing figures. FY26 revenue surged 75% to ₹127.8 crore on the back of the State Bank of India deal. But the concall summary flags contradictions in the guidance and billing figures.

What’s new

  • Simca's FY26 revenue jumped 75% to ₹127.8 crore, with EBITDA margins expanding to 18.4%.
  • The SBI contract contributed ₹30 crore and is billing at a run-rate above its original value.
  • The summary itself notes internal contradictions in non-OOH revenue guidance and SBI billing.

Why it matters

The numbers are good. Revenue up 75%, margins expanded, a huge contract already beating its initial trajectory. But the analyst who wrote the summary saw fit to flag contradictions in management's own guidance and billing figures. When the summary calls out its own inconsistencies, that's the detail worth scrutiny.

What we’re watching

  • Whether the FY27 run-rate on the SBI contract holds and justifies the expansion plans.
  • How the planned ₹8-10 crore Bangalore investment and five new billboards are funded.
  • Resolution of the non-OOH revenue guidance contradictions flagged in the summary.

The full read

Simca Advertising had a banner year. Revenue surged 75% to ₹127.8 crore in FY26, powered by the State Bank of India contract. That single client contributed ₹30 crore. Margins expanded, with EBITDA rising 129.5% to ₹23.5 crore and the margin hitting 18.4%. The contract's momentum is accelerating into FY27: ₹15 crore was billed in the first two months, implying a run-rate well above the prior year's contribution. Management is pushing further, planning five new billboards and a ₹8-10 crore foray into Bangalore. But the summary's most important line is buried: it flags internal contradictions in non-OOH guidance and the SBI billing figures. That is an unusual admission in a management-authored document. The growth is real, but the inconsistency between guidance and the billing math is the next thing to resolve.

Primary source: NSE

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