NSE: BLUECLOUDS · BSE: 539607
BLUE CLOUD SOFTECH SOLU L
Sells AI-driven enterprise software, cybersecurity platforms, healthcare products and 5G telecom services, with a confirmed FY27 order book of Rs 1,100+ crore where cybersecurity contributes 46-47%, enterprise applications 24-26%, healthcare ~14% and IT consulting makes up the rest. Key products include AccessGenie (AI facial-recognition surveillance), Blura SAGA/SOCEYE (social-media monitoring, deployed with Hyderabad City Police), BluTOR (dark-web tracker), BluHawk (vulnerability assessment), BluHealth (vitals monitoring) and BioSter (OT-grade sterilisation). Revenue crossed Rs 1,001.9 crore in FY26 (up 26% YoY), of which recurring revenue is 70-74% under contracts running out to 2030. Customers span central and state government agencies (BSNL empanelment as Captive Non-Public Network Provider, Telangana Police, Hyderabad City Police), private enterprises and overseas clients, with a five-year MSA signed by its US arm with SpaceX International Malaysia. A major new leg is a sovereign data-centre business (100-120 MW Phase-1 at ~$350M capex) and expansion into Ghana, Liberia, Senegal and Mauritius, with FY27 revenue guided at ~Rs 3,000 crore and CAPEX of Rs 150-200 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Cybersecurity platforms, Enterprise smart applications, Healthcare products, IT consulting and support. Asset-light-to-asset-shifting AI software and platform business adding a heavy-CAPEX sovereign data-centre vertical
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 502 | 797 | 1,002 |
| EBITDA (ex other income) | 27 | 70 | 125 |
| margin % | 5.3 | 8.8 | 12.5 |
| Owners' profit | 0 | 0 | 0 |
| EPS, as reported (₹) | 1.00 | 2.02 | 1.13 |
| ROE % · ROCE % | 20.7 · 27.6 | 36.3 · 38.7 | 6.6 · 10.1 |
| Debt / equity (x) | 0.83 | 0.77 | 0.28 |
| Cash from operations | (0) | (13) | 208 |
| Capex | (29) | 0 | (405) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 231 | 235 | 147 | 184 | 206 | 253 | 265 | 278 |
| Profit before tax | 15 | 16 | 13 | 16 | 20 | 22 | 25 | 23 |
| Net profit | 10 | 11 | 9 | 13 | 14 | 15 | 19 | 12 |
| EPS (₹) | 0.48 | 0.52 | 0.21 | 0.60 | 0.66 | 0.35 | 0.37 | 0.16 |
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. % |
|---|---|---|---|---|---|---|---|---|
| ORACLE FIN SERV SOFT LTD. | 89,075 | 24.9 | 11.59 | 25.2 | 27.5 | 34.7 | 9.0 | 48.5 |
| TANLA PLATFORMS LIMITED | 8,627 | 15.5 | 3.17 | 10.9 | 10.6 | 13.2 | 13.5 | 15.9 |
| C.E. INFO SYSTEMS LIMITED | 4,603 | 29.8 | 4.74 | 25.9 | 8.8 | 11.9 | — | 34.1 |
| CAPILLARY TECHNO INDIA L | 4,051 | 63.1 | 3.82 | 43.7 | 1.2 | 1.0 | — | 14.5 |
| TECHNVISION VENTURES LTD. | 2,454 | 11174.3 | 163.59 | 435.1 | 1.4 | 5.5 | 25.5 | (4.1) |
| Mobavenue AI Tech Limited | 2,010 | 17.2 | 17.57 | 43.6 | — | — | — | 21.1 |
| RAMCO SYSTEMS LTD. | 1,989 | 67.7 | 5.62 | 11.8 | 0.3 | 1.3 | 2.3 | 14.2 |
| NUCLEUS SOFTWARE EXPORTS | 1,656 | 16.5 | 1.80 | 12.6 | 4.9 | 5.7 | 11.3 | 6.9 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 11.4 | 23.1 | 12 of 32 | 65% |
| P/B | 1.4 | 1.5 | 17 of 38 | 54% |
| ROCE | 9.1 | 1.1 | 8 of 39 | 82% |
| ROE | 6.5 | 0.7 | 7 of 37 | 83% |
| Debt / Equity | 0.3 | 0.0 | 32 of 38 | 16% |
| EBITDA margin | 17.2 | 5.5 | 8 of 36 | 80% |
| Revenue growth | 51.1 | 9.9 | 6 of 33 | 84% |
| Profit growth | (7.1) | (10.2) | 20 of 40 | 51% |
| Market cap | 1318 | 42 | 9 of 44 | 81% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 5 Nov 2026 · Board meeting set for November 14, 2026 to approve Q2 results | results | low | — | — |
| 5 Nov 2026 · Blue Cloud signs MoU with Ghana-based Kasten for African expansion | compliance | low | — | — |
| 5 Nov 2026 · Blue Cloud signs Ghana partnership agreement to expand AI reach | compliance | low | — | — |
| 2 Nov 2026 · SpaceX accepts October services; Blue Cloud invoices US$10 million | compliance | low | — | — |
| 14 Oct 2026 · Progress on USD 150M SpaceX International programme, about Rs 25 crore delivered | strategic transactions | medium | — | — |
| 13 Oct 2026 · RTA certificate submitted for Q2 FY27 under SEBI Reg 74(5) | compliance | minimal | — | — |
| 8 Oct 2026 · MoU signed with Senegal Ministry and GCIB for Africa on digital cooperation | strategic transactions | high | — | — |
| 7 Oct 2026 · Blue Cloud subsidiary begins delivery of US$15.5M IBM Cloud AI order | business updates | medium | — | — |
| 30 Sept 2026 · Blue Cloud launches BluEdge, sovereign AI inference software | business updates | medium | — | — |
| 28 Sept 2026 · Trading window closes Oct 1 for Blue Cloud Softech ahead of Q2 results | 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.