BSE: 544626
EXATO TECHNOLOGIES LIMITED
Provides IT services and technology solutions to enterprise customers, organised around three lines: customer experience and analytics (CXaaS, conversational AI, automation, workforce management, ERP), unified communications and infrastructure (under the new HPE Partner Ready arrangement), and a proprietary IP platform called Exato IQ. Healthcare is the largest vertical, accounting for Rs 210-220 cr of the Rs 348 cr order book disclosed in Q3 FY26, with other work concentrated in banking, PSU and telecom customers. The business also has international operations across 10+ countries, with an export revenue mix of 28% in FY26 and a US subsidiary (Exato.AI Inc.) and an Australia subsidiary set up in March 2026. FY26 revenue from operations was Rs 168 cr (up 35% YoY) and PAT was Rs 16.09 cr (up 67%); PAT margin expanded from 7.77% to 9.58% and EBITDA margin to 15.12%. The order book stood at Rs 600 cr with Rs 330 cr yet to be executed, and ARR scaled to Rs 118 cr from Rs 60-65 cr. The cost base is people-driven — employee costs at 7.6% of revenue — with other operating expenses at 5.1% and capex at 7.9%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Customer Experience & Analytics services, Unified Communications & Infrastructure, Proprietary IP platform (Exato IQ). People-driven IT services and solutions, asset-light with capex at 7.9% of revenue
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 168 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 19.10 |
| ROE % · ROCE % | — · 27.0 |
| Debt / equity (x) | — |
| Cash from operations | 2 |
| Capex | (13) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q3 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 36 | 61 |
| Profit before tax | 6 | 6 |
| Net profit | — | — |
| EPS (₹) | 5.45 | 4.21 |
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. | 44,149 | 33.4 | 6.80 | 20.4 | 19.7 | 21.1 | 15.1 | 19.6 |
| INVENTURUS KNOWLEDGE SO L | 29,130 | 37.4 | 10.40 | 26.5 | 25.8 | 27.7 | — | 33.6 |
| TATA TECHNOLOGIES LIMITED | 26,718 | 48.0 | 6.81 | 29.0 | 13.9 | 14.3 | — | 18.3 |
| NETWEB TECH INDIA LTD | 24,780 | 94.8 | 34.26 | — | 28.5 | 37.5 | — | 15.7 |
| SAGILITY LIMITED | 21,553 | 21.7 | 2.23 | 12.2 | 9.6 | 11.6 | — | 22.3 |
| AFFLE 3I LIMITED | 19,072 | 39.9 | 5.22 | 26.0 | 12.5 | 15.2 | 39.3 | 25.8 |
| BLACK BOX LIMITED | 14,377 | 61.6 | 11.17 | 28.6 | 16.9 | 9.5 | 6.2 | 8.4 |
| CYIENT LIMITED | 13,177 | 34.6 | 2.14 | 11.9 | 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) | 62.1 | 17.5 | 67 of 76 | 12% |
| ROCE | 24.9 | 9.6 | 10 of 86 | 89% |
| Market cap | 604 | 296 | 35 of 87 | 61% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Routine RTA certificate for quarter ended Sep 30, 2026 | compliance | minimal | — | — |
| 2 Oct 2026 · Exato Technologies certified in Anthropic's Claude Partner Network | business updates | low | — | — |
| 30 Sept 2026 · Exato Technologies 9th AGM: Both resolutions passed with 99.9% approval | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Proceedings of 9th Annual General Meeting (AGM) of the Company - Financial Year 2025-26 | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading Window Closure Notice for Q2 and H1 FY26 Results | compliance | minimal | — | — |
| 16 Sept 2026 · Exato Technologies submits revised annual report for FY25-26 | results | medium | — | — |
| 16 Sept 2026 · Corrigendum to FY26 Annual Report with key ratio revisions | general | low | — | — |
| 6 Sept 2026 · Participation in Alpha Ideas SME Stars 2026 Conference | investor communications | low | — | — |
| 5 Sept 2026 · Newspaper ad published for 9th AGM notice on FY 2025-26 meeting | compliance | minimal | — | — |
| 4 Sept 2026 · Exato Technologies files FY26 Annual Report, 9th AGM on Sep 28 | compliance | medium | — | — |
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.