Fractal Analytics is an AI and analytics services company that sells enterprise AI solutions to large clients across four main verticals — Healthcare & Life Sciences (HLS), Banking, Financial Services & Insurance (BFSI), Consumer Packaged Goods & Retail, and Technology, Media & Telecom (TMT). The business runs on two segments: Fractal.ai, which contributed 97.3% of segment revenue at ₹3,219 crore in FY26 with EBIT of ₹540.9 crore, and Fractal Alpha, a smaller 2.7% segment at ₹90.8 crore running EBIT-negative at -₹17 crore. Fractal.ai operates on three pillars — AI-led transformation, AI foundations, and AI for work — delivered through proprietary platforms including Cogentiq (10+ clients, license revenue ~3% of mix), Asper.ai (ARR ~$9M, AI for sales, pricing and inventory), Qure.ai (healthcare AI), and Analytics Vidhya. The customer base is concentrated in enterprises (top-10 clients made up 51.8% of revenue in Q1 FY27), with 5 clients generating over $20M in TTM revenue and zero client churn in the quarter. The biggest cost driver is people: employee costs were 69.4% of revenue in FY26, with other opex at 15.2% and depreciation at 4.1%. Q1 FY27 revenue grew 20% YoY to ₹912.5 crore, with HLS growing 69% YoY and BFSI 36%, while TMT declined 22% YoY dragging headline growth. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Fractal.ai (97%), Fractal Alpha (3%). People-heavy, asset-light AI and analytics services and platform business
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 3,300 |
| EBITDA (ex other income) | 497 |
| margin % | 15.1 |
| Owners' profit | 292 |
| EPS, as reported (₹) | 18.22 |
| ROE % · ROCE % | 9.0 · 12.5 |
| Debt / equity (x) | 0.09 |
| Cash from operations | 409 |
| Capex | (219) |
| ₹ crore | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 854 | 886 | 913 |
| Profit before tax | 83 | 150 | 121 |
| Net profit | 100 | 116 | 72 |
| EPS (₹) | 6.40 | 7.07 | 4.31 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Fractal.ai | 1,701 | 97.4 |
| Fractal Alpha | 46 | 2.6 |
| Total, before eliminations | 1,746 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TATA CONSULTANCY SERV LT | 7,96,690 | 16.0 | 7.34 | 10.9 | 45.6 | 53.9 | 10.2 | 26.9 |
| INFOSYS LIMITED | 4,20,891 | 14.0 | 4.51 | 8.8 | 31.6 | 38.6 | 12.2 | 25.7 |
| HCL TECHNOLOGIES LTD | 3,27,456 | 18.7 | 4.35 | 11.7 | 22.1 | 26.2 | 11.5 | 20.9 |
| WIPRO LTD | 1,65,785 | 13.3 | 1.88 | 7.9 | 15.0 | 17.1 | 8.4 | 22.9 |
| TECH MAHINDRA LIMITED | 1,51,018 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Fractal Analytics schedules NDR with investors on Sep 16 in Mumbai | board shareholder meetings | low | — | — |
| 9 Sept 2026 · Fractal Analytics schedules three investor roadshows in Mumbai | general | low | — | — |
| 3 Sept 2026 · Voluntary liquidation of step-down subsidiary Fractal Sweden | regulatory legal | high | — | — |
| 2 Sept 2026 · Fractal Analytics to attend JP Morgan AI Day India Summit on Sept 23 | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Fractal Analytics appoints Shilpa Kedia as CFO, effective October 19 | management changes | high | — | — |
| 31 Aug 2026 · Allotment of 10.57 lakh shares under ESOP plans | capital market events | low | — | — |
| 25 Aug 2026 · Fractal launches India Business Unit to serve large Indian enterprises | business updates | medium | — | — |
| 25 Aug 2026 · Newspaper publication of 26th AGM notice and e-voting information | compliance | minimal | — | — |
| 24 Aug 2026 · Fractal Analytics 26th AGM notice and FY26 annual report filed | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Grant of 1,52,000 stock options to employees under 2019 ESOP Plan | capital market events | low | — | — |
| 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 |
| 26.6 |
| 5.02 |
| 16.9 |
| 16.0 |
| 18.8 |
| 8.5 |
| 16.8 |
| LTM LIMITED | 1,27,635 | 24.4 | 5.29 | 15.4 | 20.7 | 24.8 | 27.9 | 20.0 |
| PERSISTENT SYSTEMS LTD | 87,015 | 44.8 | 11.10 | 29.8 | 23.8 | 28.5 | 28.6 | 17.8 |
| COFORGE LIMITED | 81,708 | 37.5 | 8.44 | 29.1 | 18.0 | 17.2 | 28.6 | 18.6 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 43.1 | 16.6 | 62 of 71 | 13% |
| P/B | 4.1 | 2.9 | 42 of 64 | 35% |
| ROCE | 11.1 | 14.2 | 49 of 78 | 38% |
| ROE | 9.0 | 11.5 | 44 of 67 | 35% |
| Debt / Equity | 0.1 | 0.0 | 43 of 68 | 37% |
| EBITDA margin | 18.6 | 18.4 | 32 of 65 | 52% |
| Market cap | 13192 | 475 | 13 of 75 | 84% |
| 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.
