Sector: Artificial Intelligence / Computer Vision / Enterprise Technology
Status: Unlisted Public Company
CIN: U72900MH2013PLC240611
ISIN: INE0B2O01014
Incorporated: 19 February 2013
Registered Office: Mumbai, Maharashtra
Brand: Prisma AI
Website: Prisma AI
Indicative Unlisted Price: ~₹7,950–₹8,026 per share
Indicative Market Capitalisation: ~₹4,000 Cr
Face Value: ₹10 per share
Prisma Global Limited operates under the Prisma AI brand and is focused on visual artificial intelligence, computer vision and predictive analytics. The company develops AI solutions capable of analysing images, video, faces, objects, body behaviour and other visual inputs through its proprietary Gryphos platform.
About the Company
Prisma AI traces its technology heritage to Germany and has evolved into a global visual-AI technology group with operations across multiple geographies. Its Indian listed/unlisted-market entity is Prisma Global Limited, while the broader group is anchored by Prisma AI Corporation Pte. Ltd., Singapore.
The company’s core proposition is to make conventional cameras and visual systems intelligent through AI. Its technology is designed to detect, identify, analyse and respond to events in real time.
Prisma AI currently highlights 125+ global deployments, 425,000+ cameras running, presence across 6 continents and more than $260 million in total contracts to date. These are company-reported figures and should not be interpreted as equivalent to revenue booked.
Key Highlights
| Particular | Details |
|---|---|
| Core Technology | Visual AI & Computer Vision |
| Proprietary Platform | Gryphos |
| AI Engines / APIs | 230+ |
| Global Deployments | 125+ |
| Cameras Running | 425,000+ |
| Geographic Reach | 6 Continents |
| Total Contracts | $260M+ company-reported |
| Business Model | Enterprise AI solutions, software, platforms & implementation |
| Listing Status | Unlisted |
| IPO/DRHP | No DRHP filed currently |
Gryphos provides more than 230 pre-trained AI/API engines, covering facial recognition, object recognition, image/video recognition, OCR, biometrics, body-pose analysis and other computer-vision applications.
Business Model
Prisma AI operates primarily as a B2B enterprise technology company, developing and deploying AI solutions for organisations.
Major Solution Areas
1. Computer Vision
- Face recognition
- Object recognition
- Image and video recognition
- OCR
- Biometrics
- Behavioural analysis
- Body-pose estimation
2. Security & Surveillance
- Suspicious activity detection
- Illegal-object detection
- Perimeter monitoring
- Facial authentication
- Incident detection
- Crowd analysis
3. Aviation
- Face-as-boarding-pass
- Passenger profiling
- Lost baggage identification
- Suspicious-bag detection
- Passenger assistance
4. Banking & Financial Services
- Facial authentication
- ATM verification
- Fraud-prevention applications
- Additional authentication layers
5. Infrastructure
- Traffic violation detection
- Automatic number-plate recognition
- Tolling applications
- Accident/incident detection
6. Manufacturing & Retail
- Inventory monitoring
- Shelf counting
- Attendance systems
- Object/parts recognition
The company says its platform can be deployed directly into a customer’s environment, including on-premise or private-cloud environments.
Major Products
Gryphos
Gryphos is Prisma AI’s core proprietary computer-vision platform. It combines machine learning, cognitive intelligence and decision-science algorithms to analyse visual information and generate real-time alerts.
GryFAS
AI-powered facial authentication technology designed for financial authentication and applications such as online banking and ATM withdrawals.
Veri5
AI-enabled facial-recognition and identity-verification software incorporating facial recognition and liveness-related verification capabilities.
GrySCAN
An AI-based aviation/security solution focused on passenger profiling, suspicious-bag detection and real-time alerts.
Financial Snapshot
Recent Financial Performance
| ₹ Cr | FY23 | FY24 | FY25 | FY26* |
|---|---|---|---|---|
| Revenue | ~352.6 | ~488.2 | ~753 | ~1,119 |
| EBITDA | ~21.6 | ~29.7 | ~59.7 | ~126 |
| PBT | ~12.8 | ~20.3 | ~38.7 | ~83.6 |
| PAT | ~9.4 | ~14.3 | ~24.8–27.4 | ~43.6 |
| EPS (₹) | ~18.9 | ~28.4 | ~49.3 | ~86.7 |
*FY26 figures are based on currently available secondary unlisted-market data and should be cross-checked against the company’s final audited annual-report figures before being used in an investment document. FY24 and earlier figures are supported by financial databases/annual-filing based sources.
The important trend is that revenue has grown rapidly, while profitability has also improved. Secondary-market data indicates FY26 revenue of roughly ₹1,119 Cr and PAT of roughly ₹43.6 Cr.
Shareholding Pattern
Latest available secondary-market data indicates approximately:
| Shareholder | Holding |
|---|---|
| Prisma AI Corporation Pte. Ltd. | ~76.5% |
| Amitabh Roy Chowdhury | ~4.4% |
| Shreeram Subramaniam Iyer | ~2.0% |
| Others | ~17.2% |
Historical databases show somewhat different percentages depending on the reporting period, so the latest filed annual return should be used for transaction-level verification.
The substantial holding of Prisma AI Corporation Pte. Ltd. demonstrates the strong connection between Prisma Global and the wider global Prisma AI group.
Valuation & Market Position
At an indicative unlisted price around ₹7,950–₹8,026, Prisma Global’s implied market capitalisation is approximately ₹4,000 Cr.
However, the valuation is demanding.
At approximately ₹8,026, one secondary-market source shows:
- P/E: ~292x
- P/B: ~42x
- P/S: ~8.6x
These figures demonstrate that the market is already pricing in substantial future growth.
Another current unlisted-market source, using FY26 earnings, estimates the P/E at roughly 92x. The difference highlights the importance of verifying the latest audited earnings and share count before relying on any quoted valuation multiple.
Bottom line: Prisma AI may have an attractive growth story, but the current unlisted valuation leaves considerably less room for execution mistakes.
Investment Rationale
1. Exposure to the AI & Computer Vision Theme
Visual AI is moving beyond experimentation into practical applications across security, aviation, banking, infrastructure, manufacturing and retail.
2. Proprietary Technology
Gryphos and the company’s AI engines provide a technology platform rather than a single-product proposition. The platform contains 230+ pre-trained API engines.
3. Large Enterprise Use Cases
The technology can be applied across multiple industries, reducing dependence on one specific vertical.
4. Strong Revenue Growth
Revenue has expanded substantially over recent years, with available secondary-market data indicating another significant jump in FY26.
5. Improving Profitability
PAT has increased from approximately ₹9.4 Cr in FY23 to around ₹24.8–27.4 Cr in FY25, with FY26 secondary data indicating roughly ₹43.6 Cr.
6. Global Footprint
Prisma AI reports deployments across six continents and more than 425,000 cameras running on its technology.
7. Multiple AI Applications
The same underlying computer-vision technology can potentially be monetised across security, banking, airports, infrastructure, manufacturing and retail.
Key Risks
| Risk | Why It Matters |
|---|---|
| Very High Valuation | The stock is priced at a substantial premium to current earnings. |
| Unlisted Liquidity Risk | Shares do not trade on NSE/BSE, so exit may depend on finding a private buyer. |
| Execution Risk | High future growth expectations require continued large-scale deployments. |
| Working Capital | Available FY26 secondary data indicates significant receivables and unbilled revenue. |
| Debt/Funding Risk | Expansion has involved external/promoter-connected funding according to secondary-market disclosures. |
| AI Competition | Computer vision is highly competitive and technology evolves rapidly. |
| Customer Concentration | Large enterprise/government contracts can create dependence on major customers and project cycles. |
| Regulatory/Privacy Risk | Facial recognition, biometrics and surveillance technologies face increasing privacy and data-protection scrutiny. |
| Group-Level Legal Overhang | A June 2026 Singapore International Commercial Court judgment found Prisma AI Corporation Pte. Ltd. liable on certain claims involving investment agreements/minority oppression and granted related injunctions. Investors should assess whether this has any material impact on the Indian entity or group structure. |
Share Details
| Particular | Details |
|---|---|
| Company | Prisma Global Limited |
| Brand | Prisma AI |
| CIN | U72900MH2013PLC240611 |
| ISIN | INE0B2O01014 |
| Face Value | ₹10 |
| Listing | Unlisted |
| Paid-up Capital | ~₹5.03 Cr |
| Equity Shares | ~50.3 lakh |
| Indicative Price | ₹7,950–₹8,026 |
| Indicative Market Cap | ~₹4,000 Cr |
The company’s public-company status and unlisted nature are supported by current company databases, while the ISIN is also reflected in NSDL records.
Investment View
Prisma Global / Prisma AI is a high-risk, high-growth AI opportunity.
The business story is attractive: strong revenue growth, proprietary computer-vision technology, global deployments, multiple industry applications and increasing adoption of AI-based automation.
The valuation is the biggest concern.
At around ₹8,000 per share, investors are effectively paying a premium for future growth rather than current earnings. Therefore, the investment case depends heavily on Prisma AI sustaining high revenue growth, expanding margins and eventually converting its growing contract/deployment base into strong free cash flow.
Our View
Business Quality: ⭐⭐⭐⭐☆
Growth Potential: ⭐⭐⭐⭐⭐
Technology: ⭐⭐⭐⭐☆
Profitability: ⭐⭐⭐☆☆
Valuation Comfort: ⭐⭐☆☆☆
Liquidity: ⭐⭐☆☆☆
Overall Risk: High
Suitable for: Investors looking for long-term exposure to India’s/global AI and computer-vision theme and who understand unlisted-share liquidity and valuation risks.
Not suitable for: Investors seeking near-term liquidity, predictable valuations or low-risk investments.
How to Invest
Prisma Global Limited is currently unlisted, so its shares are not available for normal NSE/BSE trading. Transactions take place through the unlisted-share market and require appropriate KYC, demat and transfer procedures.
Indicative market prices can vary materially between intermediaries because there is no continuous exchange-based price discovery. Current sources show quotes around ₹7,950–₹8,026, illustrating the need to confirm the actual executable price and availability before a transaction.
Investment Takeaway
Prisma AI offers one of the more interesting AI-focused unlisted opportunities, but the valuation is already pricing in significant success.
The key question for investors is not simply:
“Will AI grow?”
It is:
“Can Prisma AI grow fast enough and profitably enough to justify the valuation being paid today?”
That makes Prisma Global a high-conviction but high-risk growth bet, where entry price and future execution are equally important.
Official company website: Prisma AI
Disclaimer
This information is provided for educational and informational purposes only and should not be considered investment advice, a recommendation, solicitation or assurance of returns. Unlisted shares carry higher liquidity, valuation, information and exit risks than listed securities. Financial figures and unlisted-market prices should be independently verified from the latest audited financial statements and transaction documents before investing.
For such more unlisited
