Adcon Capital Services Limited (ADCON.BO)

Adcon Capital Services Limited (ADCON.BO) — VMCI valuation read

Adcon Capital Services Limited sits at VMCI 61/100, with the Financial Services sector median at 50. That 11-point spread is the first thing to note on ADCON.BO: it tells the reader the composite is favorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on ADCON.BO are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on ADCON.BO: ADCON.BO trades at 18.0x earnings, 0% above the Financial Services median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 8.0% trails the Financial Services median (10.0%) by 2.0pp. The Risk read: net debt to EBITDA of -1.4x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.

ADCON.BO fell 3.7% over the trailing 7 days, with a -18.1% read on a 30-day basis.