BSE: 544567
Infinity Infoway Limited
Provides enterprise software primarily for the education sector and industrial clients, with FY26 revenue of ~INR 23.77 crore split across Education ERP (53.60%), Industrial ERP (36.25%), Online Examination (around 10%) and Digital Learning (0.13%). Recent wins include an INR 11 crore, five-year AI data analytics order from the Government of Gujarat's Education Department and an INR 1.45 crore annual contract from Barkatullah University in Bhopal. The ZeroTouch DaaS platform — a 20-year patented system for secure question-paper delivery — has 150 machines built, is guided to contribute 20–22% of FY27 revenue at 50–60% project margins, and forms the centre of an expansion into hardware-software hybrid delivery. The customer base spans 55+ universities and the digital examination platform handles 2 lakh concurrent students. Operations run on 156 employees, with revenue geographically concentrated in Gujarat (71%) and Madhya Pradesh (20%). FY27 plans include deploying ~900 ZeroTouch machines (30% of a 3,000-unit near-term capacity) and entering the UAE, Saudi Arabia and Bahrain. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Education ERP (54%), Industrial ERP (36%), Online Examination (10%), Digital Learning (0%), ZeroTouch DaaS. Software-led education and industrial ERP business scaling into a hardware-software hybrid through the ZeroTouch device line.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 24 |
| EBITDA (ex other income) | 10 |
| margin % | 41.6 |
| Owners' profit | 7 |
| EPS, as reported (₹) | 15.11 |
| ROE % · ROCE % | 16.8 · 22.5 |
| Debt / equity (x) | 0.01 |
| Cash from operations | 3 |
| Capex | (10) |
Exhibit 2: Quarterly performance, last 3 quarters
| ₹ crore | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|
| Revenue | 8 | 6 | 16 |
| Profit before tax | 4 | 2 | 6 |
| Net profit | 3 | 2 | 4 |
| EPS (₹) | 7.23 | 2.93 | 7.88 |
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. | 33,596 | 25.4 | 5.17 | 15.3 | 19.7 | 21.1 | 15.1 | 19.6 |
| INVENTURUS KNOWLEDGE SO L | 29,916 | 38.4 | 10.68 | 27.2 | 25.8 | 27.7 | — | 33.6 |
| TATA TECHNOLOGIES LIMITED | 28,174 | 50.6 | 7.18 | 30.6 | 13.9 | 14.3 | — | 18.3 |
| NETWEB TECH INDIA LTD | 26,967 | 103.2 | 37.28 | — | 28.5 | 37.5 | — | 15.7 |
| SAGILITY LIMITED | 20,285 | 20.4 | 2.10 | 11.5 | 9.6 | 11.6 | — | 22.3 |
| AFFLE 3I LIMITED | 19,743 | 41.3 | 5.41 | 26.9 | 12.5 | 15.2 | 39.3 | 25.8 |
| BLACK BOX LIMITED | 15,133 | 64.9 | 11.76 | 30.1 | 16.9 | 9.5 | 6.2 | 8.4 |
| E2E NETWORKS LIMITED | 14,903 | 338.8 | — | — | — | — | — | 82.5 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 30.8 | 18.5 | 52 of 76 | 32% |
| P/B | 7.2 | 2.1 | 65 of 70 | 7% |
| ROCE | 22.4 | 9.6 | 11 of 86 | 88% |
| ROE | 16.8 | 9.2 | 16 of 70 | 78% |
| Debt / Equity | 0.0 | 0.0 | 29 of 70 | 59% |
| EBITDA margin | 41.7 | 13.0 | 6 of 69 | 93% |
| Market cap | 303 | 275 | 43 of 88 | 52% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 28 Sept 2026 · Trading window closure for Sep 2026 quarter results | compliance | minimal | — | — |
| 14 Aug 2026 · Q1 FY27 earnings call: revenue Rs 6.89cr, 100%+ YoY growth, ZeroTouch launched | investor communications | medium | — | — |
| 13 Aug 2026 · Q1 FY26-27 earnings call audio recording uploaded | investor communications | low | — | — |
| 11 Aug 2026 · Infinity Infoway to host Q1 FY27 earnings call on 13 August 2026 | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Board appoints CS Janvi N. Davda as Secretarial Auditor for FY 2026-27 | management changes | medium | — | — |
| 11 Aug 2026 · Q1 FY27 results approved, PAT up 36% YoY, new Secretarial Auditor appointed | results | high | — | — |
| 7 Aug 2026 · 18th AGM held; 18 resolutions on borrowings, pay hikes, related party deals, ESOP | board shareholder meetings | low | — | — |
| 5 Aug 2026 · Board meeting on Aug 11 to consider Q1 results and auditor appointment | board shareholder meetings | low | — | — |
| 15 Jul 2026 · Infinity Infoway submits FY26 Annual Report, AGM set for Aug 7 | compliance | low | — | — |
| 15 Jul 2026 · Infinity Infoway submits FY26 Annual Report; revenue up 81% to Rs 24.46 cr | 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.