NSE: GVPTECH
GVP INFOTECH LIMITED
Operates as an IT services company listed on NSE, with FY26 revenue of Rs 6.48 crore. Past contracts referenced in filings include a 'Smart Rajasthan' project with RUDSICO, where Rs 40 crore is disputed and pending arbitration, and a relationship with Minosha India that ended in a write-off after the company recovered only Rs 20 crore of a Rs 71.10 crore claim. Employee cost was Rs 2.06 crore in FY26, or 31.7% of revenue, while other operating expenses were inflated by the Minosha write-off. The company has pivoted into fintech and payments: it received RBI authorisation for Online Payment Aggregation in January 2024, and in December 2025 it secured authorisation for online and physical cross-border transactions. Shareholders approved amending the Memorandum of Association in November 2025 to formally include payment aggregation covering online, physical point-of-sale, and cross-border services as a permitted activity. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. IT Services, Payment Aggregation. Small IT services company diversifying into RBI-licensed fintech and payments; FY26 results dominated by a Minosha India write-off
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 18 | 33 | 6 | 6 |
| EBITDA (ex other income) | 1 | 3 | (2) | (90) |
| margin % | 6.2 | 8.7 | (43.1) | (1390.6) |
| Owners' profit | 4 | 3 | (3) | (91) |
| EPS, as reported (₹) | 0.28 | 0.17 | (0.16) | (5.37) |
| ROE % · ROCE % | 2.7 · 2.7 | 1.7 · 1.7 | (1.6) · (1.6) | (111.0) · (102.5) |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.19 |
| Cash from operations | 1 | 0 | 50 | (16) |
| Capex | (0) | (0) | 0 | (5) |
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 | 0 | 0 | 2 | 4 | 2 | 0 | 0 | 0 |
| Profit before tax | 0 | (1) | (2) | 2 | (90) | (1) | (2) | 3 |
| Net profit | 0 | (1) | (2) | 2 | (90) | (1) | (2) | 4 |
| EPS (₹) | 0.00 | (0.04) | (0.13) | 0.13 | (5.21) | (0.08) | (0.12) | 0.21 |
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. | 43,370 | 32.9 | 6.68 | 20.0 | 19.7 | 21.1 | 15.1 | 19.6 |
| INVENTURUS KNOWLEDGE SO L | 28,839 | 37.0 | 10.30 | 26.2 | 25.8 | 27.7 | — | 33.6 |
| TATA TECHNOLOGIES LIMITED | 26,430 | 47.4 | 6.74 | 28.7 | 13.9 | 14.3 | — | 18.3 |
| NETWEB TECH INDIA LTD | 25,071 | 95.9 | 34.66 | — | 28.5 | 37.5 | — | 15.7 |
| SAGILITY LIMITED | 21,192 | 21.4 | 2.19 | 12.0 | 9.6 | 11.6 | — | 22.3 |
| AFFLE 3I LIMITED | 19,968 | 41.7 | 5.47 | 27.3 | 12.5 | 15.2 | 39.3 | 25.8 |
| BLACK BOX LIMITED | 14,418 | 61.8 | 11.20 | 28.7 | 16.9 | 9.5 | 6.2 | 8.4 |
| CYIENT LIMITED | 12,888 | 33.8 | 2.09 | 11.7 | 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/B | 1.4 | 2.2 | 26 of 70 | 64% |
| ROCE | (103.4) | 9.6 | 86 of 86 | 0% |
| ROE | (111.0) | 9.2 | 70 of 70 | 0% |
| Debt / Equity | 0.2 | 0.0 | 51 of 70 | 28% |
| EBITDA margin | 12084.4 | 13.0 | 1 of 69 | 100% |
| Revenue growth | (99.2) | 20.8 | 65 of 67 | 3% |
| Profit growth | 74.5 | 14.6 | 15 of 64 | 78% |
| Market cap | 111 | 325 | 56 of 87 | 36% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Routine SEBI Regulation 74(5) compliance filing for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · GVP Infotech expands charter to enter payments and fintech business | general | medium | — | — |
| 30 Sept 2026 · AGM results: all 4 resolutions passed, dividend of Rs 0.2 per share declared | compliance | minimal | — | — |
| 30 Sept 2026 · Reminder for call money payment on rights issue shares | fund raising | medium | — | — |
| 30 Sept 2026 · Board approves forfeiture notice for unpaid partly paid-up shares | corporate actions | medium | — | — |
| 29 Sept 2026 · GVP Infotech holds 14th AGM; 4 resolutions including 10 percent dividend considered | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading window closure ahead of Q2 FY27 results | compliance | minimal | — | — |
| 5 Sept 2026 · Notice of 14th AGM and book closure published in newspapers | compliance | minimal | — | — |
| 4 Sept 2026 · GVP Infotech sets 22 Sep 2026 as record date for FY26 dividend | corporate actions | medium | — | — |
| 4 Sept 2026 · 14th AGM on Sept 29, 2026; dividend at Rs 0.2 per share; MOA amendment for payments | board shareholder meetings | low | — | — |
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.