Sells an AI-powered cloud loyalty and engagement platform to large enterprises running consumer loyalty programmes. Revenue comes from subscriptions, with growth driven by three levers: existing customers expanding usage and absorbing price increases (FY26 organic net revenue retention of 114%), new enterprise logos, and acquiring legacy loyalty platforms at low margins and migrating them to a standardised 65% gross-margin setup. The aiRA AI stack, sold on usage-based pricing, is the fastest-adopted product in the company's history. In May 2026 the SessionM merchant loyalty business was acquired from Mastercard for $35 million, adding over 40 enterprise customers including five Fortune 500 firms and roughly INR 350 crore in annualised revenue. The platform runs at 99.999% uptime for 115 large enterprises. The largest cost is people — employee expenses were 48.2% of revenue in FY26 — followed by other operating expenses at 39.2%, depreciation at 10.2% and capex at 5.4%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. AI-powered loyalty & engagement platform. Asset-light, global AI-driven SaaS subscription platform with an M&A roll-up strategy.
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 735 |
| EBITDA (ex other income) | 118 |
| margin % | 16.0 |
| Owners' profit | 52 |
| EPS, as reported (₹) | 6.94 |
| ROE % · ROCE % | 5.1 · 5.4 |
| Debt / equity (x) | 0.04 |
| Cash from operations | 150 |
| Capex | (39) |
| ₹ crore | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 184 | 191 | 257 |
| Profit before tax | 8 | 42 | (9) |
| Net profit | 8 | 43 | (10) |
| EPS (₹) | 1.05 | 5.47 | (1.20) |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ORACLE FIN SERV SOFT LTD. | 1,02,338 | 30.0 | 13.08 | 26.9 | 33.7 | 43.2 | 9.0 | 62.5 |
| TANLA PLATFORMS LIMITED | 6,684 | 12.5 | 2.69 | 7.8 | 20.5 | 25.0 | 13.5 | 17.6 |
| C.E. INFO SYSTEMS LIMITED | 5,056 | 36.8 | 5.59 | 21.9 | 14.8 | 21.3 | — | 54.2 |
| CAPILLARY TECHNO INDIA L ◆ | 3,656 | 86.5 | 3.57 | 27.9 | 5.1 | 4.9 | — | 4.9 |
| TECHNVISION VENTURES LTD. | 2,991 | 344.1 | 199.35 | 399.6 | 1.4 | 5.5 | 25.5 | (3.0) |
| RAMCO SYSTEMS LTD. | 2,239 | 53.6 | 6.33 | 14.7 | 11.9 | 11.0 | 2.3 | 16.0 |
| Mobavenue AI Tech Limited | 2,135 | 16.9 | 23.58 | 44.6 | 32.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 1 Sept 2026 · Capillary Technologies appoints 7 Senior Management Personnel | management changes | medium | — | — |
| 31 Aug 2026 · Capillary Technologies 14th AGM: All 3 resolutions approved | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Capillary Technologies 14th AGM proceedings held on Aug 28, 2026 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Clarification on 4% promoter entity transaction for Peak XV exit | ownership changes | high | — | — |
| 17 Aug 2026 · Kotak MF crosses 5% stake in Capillary Tech via small buy | ownership changes | high | — | — |
| 11 Aug 2026 · Promoter CTIPL sells 4.14% stake in Capillary Technologies via block deal | ownership changes | high | — | — |
| 11 Aug 2026 · Promoter CTIPL sells 4.14% stake via block deal, holding drops to 44.78% | ownership changes | high | — | — |
| 10 Aug 2026 · Capillary Q1 FY27 earnings call: revenue up 43%, EBITDA rises 132% YoY | investor communications | medium | — | — |
| 5 Aug 2026 · Capillary Technologies files newspaper publication copy with exchange | compliance | minimal | — | — |
| 5 Aug 2026 · Newspaper publication of Q1 FY27 financial results | compliance | minimal | — | — |
| 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 |
| 30.8 |
| — |
| 21.8 |
| NUCLEUS SOFTWARE EXPORTS | 1,828 | 17.3 | 2.01 | 10.4 | 12.9 | 15.2 | 11.3 | 16.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 86.5 | 19.0 | 36 of 41 | 13% |
| P/B | 3.6 | 1.6 | 29 of 38 | 24% |
| ROCE | 4.9 | 4.9 | 22 of 43 | 50% |
| ROE | 5.1 | 3.5 | 18 of 42 | 59% |
| Debt / Equity | 0.0 | 0.0 | 28 of 42 | 34% |
| EBITDA margin | 4.9 | 17.2 | 28 of 35 | 21% |
| Market cap | 3656 | 38 | 4 of 44 | 93% |
| 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 |
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.
