NSE: ADROITINFO · BSE: 532172
ADROIT INFOTECH LIMITED
Provides IT services, principally SAP BRIM managed services, through subsidiaries in India, Dubai and Singapore. The group won a Rs. 23 million SAP BRIM Managed Services contract from Indonesian client PT Supra Primatama Nusantara, covering functional and technical support for one year. Employee costs at 55.2% of revenue are the largest input, with other operating expenses at 35.3% and depreciation at 4.0%, reflecting an asset-light services model. The standalone holding entity recorded a loss for FY26 while consolidated profit was driven by subsidiaries, particularly Verso Altima India. A Rights Issue in February 2025 raised Rs. 4,572.07 lakhs, of which Rs. 2,100.81 lakhs had been deployed by March 2026 across business expansion, working capital, repayment of non-current liabilities, general corporate purposes and issue expenses. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. International IT and SAP services, Domestic IT and SAP services. Asset-light IT services group with SAP specialisation, workforce-driven cost base
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 6 | 22 | 25 | 32 | 49 |
| EBITDA (ex other income) | 2 | 5 | 5 | 2 | 5 |
| margin % | 27.5 | 24.1 | 18.8 | 6.0 | 9.5 |
| Owners' profit | 1 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 0.34 | 1.99 | 1.43 | 0.14 | 0.61 |
| ROE % · ROCE % | 8.9 · 6.0 | 19.1 · 15.2 | 8.5 · 9.8 | 0.7 · 3.0 | 3.6 · 7.0 |
| Debt / equity (x) | 0.26 | 0.13 | 0.09 | 0.20 | 0.33 |
| Cash from operations | 1 | 6 | 0 | (13) | 12 |
| Capex | (1) | (2) | (1) | (8) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7 | 8 | 10 | 10 | 11 | 14 | 13 | 15 |
| Profit before tax | 1 | 1 | (0) | 1 | 1 | 2 | 1 | 1 |
| Net profit | 0 | 1 | (1) | 1 | 1 | 2 | 0 | 1 |
| EPS (₹) | 0.19 | 0.18 | (0.19) | 0.16 | 0.14 | 0.28 | 0.12 | 0.12 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| L&T TECHNOLOGY SER. LTD. | 43,370 | 32.9 | 6.68 | 20.0 | 19.7 | 21.1 | 15.1 | 19.6 |
| INVENTURUS KNOWLEDGE SO L | 28,839 | 37.0 | 10.30 | 26.2 | 25.8 | 27.7 | — | 33.6 |
| TATA TECHNOLOGIES LIMITED | 26,430 | 47.4 | 6.74 | 28.7 | 13.9 | 14.3 | — | 18.3 |
| NETWEB TECH INDIA LTD | 25,071 | 95.9 | 34.66 | — | 28.5 | 37.5 | — | 15.7 |
| SAGILITY LIMITED | 21,192 | 21.4 | 2.19 | 12.0 | 9.6 | 11.6 | — | 22.3 |
| AFFLE 3I LIMITED | 19,968 | 41.7 | 5.47 | 27.3 | 12.5 | 15.2 | 39.3 | 25.8 |
| BLACK BOX LIMITED | 14,418 | 61.8 | 11.20 | 28.7 | 16.9 | 9.5 | 6.2 | 8.4 |
| CYIENT LIMITED | 12,888 | 33.8 | 2.09 | 11.7 | 7.5 | 9.7 | 12.0 | 13.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 18.1 | 17.9 | 39 of 76 | 49% |
| P/B | 0.8 | 2.2 | 13 of 70 | 81% |
| ROCE | 5.0 | 9.6 | 59 of 86 | 32% |
| ROE | 3.6 | 9.2 | 49 of 70 | 30% |
| Debt / Equity | 0.3 | 0.0 | 63 of 70 | 10% |
| EBITDA margin | 12.2 | 13.0 | 37 of 69 | 47% |
| Revenue growth | 52.7 | 20.8 | 16 of 67 | 77% |
| Profit growth | (25.4) | 14.6 | 49 of 64 | 24% |
| Market cap | 65 | 325 | 63 of 87 | 28% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board meeting set to approve September 2026 financial results | results | low | — | — |
| 16 Oct 2026 · Adroit Infotech to acquire majority stake in Croatia's Verso Altima Group | strategic transactions | high | — | — |
| 16 Oct 2026 · Compliance certificate for Q2 FY26 dematerialisation | compliance | minimal | — | — |
| 3 Oct 2026 · Board approves trust setup for AIL ESOP-2023 scheme implementation | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Board meeting on Oct 3 to consider ESOP trust setup | general | medium | — | — |
| 29 Sept 2026 · Trading Window Closed Ahead of Q2 FY26-27 Results | compliance | minimal | — | — |
| 14 Aug 2026 · Adroit Infotech 36th AGM held on Aug 14 2026, all resolutions passed | board shareholder meetings | low | — | — |
| 5 Aug 2026 · Newspaper publication of audited financial results for Q1 FY27 | compliance | minimal | — | — |
| 5 Aug 2026 · Newspaper publication of Q1 FY27 results | compliance | minimal | — | — |
| 4 Aug 2026 · No deviation in Rights Issue fund use for Q1FY27 | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.