BSE: 516038
KS Smart Technologies Limited
Supplies IT hardware and executes turnkey digital-infrastructure projects for government clients, primarily state undertakings. The listed entity (formerly Soma Papers & Industries) was transformed via a reverse acquisition of KS Smart Solutions Private Limited (KSSPL), which is now its wholly-owned operating subsidiary; the standalone listed entity is effectively a shell post-restructuring. Activities span IT hardware (desktops, MFPs, UPS units, web cameras, smart LED TVs), software, skill development, smartphones, tablets, and emerging-tech solutions, bundled into end-to-end e-Governance rollouts. FY26 consolidated revenue was ₹1,311.92 crore, up from ₹68,825.53 lakhs in FY25 (~91% growth), with PAT of ₹74.33 crore. Cost structure is heavily weighted to materials at 87.8% of revenue, consistent with a hardware-procurement-and-installation model rather than a pure software/services model. Subsidiary portfolio includes KSSPL, Five 28 Anna Salai LLP, Southern Electric Metering Pvt Ltd, and Ikshanaa Technology Solutions Pvt Ltd. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. IT hardware supply, Turnkey e-Governance / digital infrastructure projects, Software, skill development and emerging-tech solutions. Asset-light hardware distribution bundled with turnkey project execution for government clients; recently transformed via reverse acquisition from a paper business.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 1,312 |
| EBITDA (ex other income) | 120 |
| margin % | 9.1 |
| Owners' profit | 75 |
| EPS, as reported (₹) | 9.17 |
| ROE % · ROCE % | 25.2 · 36.9 |
| Debt / equity (x) | 0.69 |
| Cash from operations | 9 |
| Capex | (1) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q3 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 186 | 815 |
| Profit before tax | 23 | 76 |
| Net profit | 17 | 57 |
| EPS (₹) | 1.54 | 4.88 |
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. | 44,462 | 33.7 | 6.85 | 20.6 | 19.7 | 21.1 | 15.1 | 19.6 |
| INVENTURUS KNOWLEDGE SO L | 29,243 | 37.5 | 10.44 | 26.6 | 25.8 | 27.7 | — | 33.6 |
| TATA TECHNOLOGIES LIMITED | 26,799 | 48.1 | 6.83 | 29.1 | 13.9 | 14.3 | — | 18.3 |
| NETWEB TECH INDIA LTD | 25,074 | 95.9 | 34.67 | — | 28.5 | 37.5 | — | 15.7 |
| SAGILITY LIMITED | 20,898 | 21.1 | 2.16 | 11.9 | 9.6 | 11.6 | — | 22.3 |
| AFFLE 3I LIMITED | 19,363 | 40.5 | 5.30 | 26.4 | 12.5 | 15.2 | 39.3 | 25.8 |
| BLACK BOX LIMITED | 14,634 | 62.8 | 11.37 | 29.1 | 16.9 | 9.5 | 6.2 | 8.4 |
| CYIENT LIMITED | 12,693 | 33.3 | 2.06 | 11.5 | 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) | 12.5 | 18.7 | 25 of 76 | 68% |
| P/B | 4.5 | 2.2 | 56 of 70 | 20% |
| ROCE | 29.2 | 9.6 | 6 of 86 | 94% |
| ROE | 25.2 | 9.2 | 7 of 70 | 91% |
| Debt / Equity | 0.7 | 0.0 | 68 of 70 | 3% |
| EBITDA margin | 10.4 | 13.0 | 47 of 69 | 32% |
| Market cap | 1315 | 343 | 20 of 87 | 78% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 20 Oct 2026 · KS Smart Tech proposes US step-down subsidiary for global expansion | strategic transactions | medium | — | — |
| 13 Oct 2026 · Postal ballot results: 3 resolutions passed including fund raising via QIP or FCCB | board shareholder meetings | medium | — | — |
| 13 Oct 2026 · Authorised capital raised from 165 Cr to 175 Cr via postal ballot | corporate actions | medium | — | — |
| 12 Oct 2026 · Postal ballot results: 3 resolutions passed including QIP fundraise and capital hike | board shareholder meetings | low | — | — |
| 8 Oct 2026 · Regulation 74(5) certificate for quarter ended September 30, 2026 | compliance | minimal | — | — |
| 3 Oct 2026 · 35th AGM: All 6 resolutions passed, including 1000 Cr loan approval | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 35th AGM proceedings of KS Smart Technologies held on Sep 30, 2026 | board shareholder meetings | low | — | — |
| 18 Sept 2026 · KS Smart Solutions bags Rs 127 cr order from Punjab Education Dept | business updates | high | — | — |
| 12 Sept 2026 · Postal ballot notice published - 3 resolutions for shareholder voting | compliance | minimal | — | — |
| 12 Sept 2026 · Addendum removes related party qualification in Monitoring Agency Report | fund raising | 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.