BSE: 538922
COSYN Limited
Operates as a single-segment IT services company listed on BSE, classified under Software Products. FY26 revenue from operations stood at Rs 1,087.86 lakhs, down 26.5% from Rs 1,480.55 lakhs in FY25. Employee costs dominate the cost structure at 63.2% of revenue, with other operating expenses at 29.5% and materials at 3.6%. The company holds two subsidiaries — Cosyn LLC and Well To Desk Inc — both of which contributed zero revenue and zero profit to consolidated results in FY26. Headquartered in Hyderabad and managed by Managing Director Vishnu Ravi and Executive Director Aeruva Bhopal Reddy. Q1 FY27 revenue rose to Rs 106.13 lakhs from Rs 71.30 lakhs a year earlier, though profit after tax slipped to Rs 3.20 lakhs from Rs 3.73 lakhs. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. IT services. Small, employee-heavy, single-segment IT services business with declining revenue
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 13 | 15 | 16 | 15 | 11 |
| EBITDA (ex other income) | (1) | 1 | 1 | (1) | 1 |
| margin % | (6.5) | 8.4 | 5.9 | (5.5) | 10.9 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | (0.20) | 0.33 | 0.05 | 0.21 | 0.15 |
| ROE % · ROCE % | (0.6) · (0.1) | 0.9 · 1.9 | 0.1 · 1.3 | 0.6 · 2.9 | 0.4 · 2.4 |
| Debt / equity (x) | 0.02 | 0.01 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (1) | 2 | (2) | (0) | 1 |
| Capex | (1) | (1) | (0) | (1) | (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 | 3 | 3 | 5 | 1 | 6 | 2 | 2 | 1 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.01 | 0.05 | 0.10 | 0.05 | 0.03 | 0.04 | 0.03 | 0.05 |
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. | 90,480 | 26.5 | 11.56 | 23.7 | 33.7 | 43.2 | 9.0 | 62.5 |
| TANLA PLATFORMS LIMITED | 6,551 | 12.3 | 2.63 | 7.6 | 20.5 | 25.0 | 13.5 | 17.6 |
| C.E. INFO SYSTEMS LIMITED | 4,785 | 34.8 | 5.29 | 20.7 | 14.8 | 21.3 | — | 54.2 |
| CAPILLARY TECHNO INDIA L | 4,403 | 104.1 | 4.30 | 33.5 | 5.1 | 4.9 | — | 4.9 |
| TECHNVISION VENTURES LTD. | 2,767 | 12600.0 | 184.46 | 369.6 | 1.4 | 5.5 | 25.5 | (3.0) |
| Mobavenue AI Tech Limited | 2,276 | 18.0 | 25.14 | 47.6 | 32.4 | 30.8 | — | 21.8 |
| RAMCO SYSTEMS LTD. | 2,023 | 48.4 | 5.72 | 13.2 | 11.9 | 11.0 | 2.3 | 16.0 |
| NUCLEUS SOFTWARE EXPORTS | 1,606 | 15.2 | 1.77 | 9.1 | 12.9 | 15.2 | 11.3 | 16.9 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 140.0 | 19.6 | 31 of 32 | 3% |
| P/B | 0.6 | 1.7 | 6 of 38 | 87% |
| ROCE | 0.6 | 4.8 | 28 of 40 | 31% |
| ROE | 0.4 | 3.5 | 26 of 38 | 32% |
| Debt / Equity | 0.0 | 0.0 | 1 of 38 | 51% |
| EBITDA margin | 33.0 | 17.2 | 12 of 35 | 68% |
| Revenue growth | 48.9 | 9.7 | 9 of 33 | 75% |
| Profit growth | (5.4) | (12.0) | 19 of 41 | 55% |
| Market cap | 16 | 42 | 29 of 44 | 35% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 30 Sept 2026 · 32nd AGM voting results: all 5 resolutions passed | board shareholder meetings | low | — | — |
| 30 Sept 2026 · All 5 resolutions passed at COSYN 32nd AGM on 30 Sept 2026 | board shareholder meetings | low | — | — |
| 30 Sept 2026 · COSYN 32nd AGM proceedings: 5 resolutions tabled including director re-appointments | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed for Q2 FY26-27 results period | compliance | minimal | — | — |
| 3 Sept 2026 · Book closure for 32nd AGM from 24-30 September 2026 | compliance | minimal | — | — |
| 3 Sept 2026 · Submission of 32nd Annual Report and AGM Notice for FY 2025-26 | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · 32nd AGM notice on Sep 30, 2026 - director reappointments and auditor | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Re-appointment of Mr. Ravi Vishnu as CMD for 5 years from Jan 2027 | management changes | high | — | — |
| 31 Aug 2026 · Re-appointment of Statutory Auditors for FY 2026-27 | management changes | medium | — | — |
| 31 Aug 2026 · Board approves 32nd AGM, re-appoints auditor and Managing Director | management changes | high | — | — |
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.