Sells IT services to enterprise clients across 30+ countries, with delivery built around AI agents for coding, testing, deployment and workflow automation; AI is embedded in 80%+ of active engagements and supported by 600+ AI-certified engineers and 50+ enterprise AI agents in production. Services span AI/ML, Big Data, Salesforce, Odoo and SAP implementation, and now account for 98.3% of the business mix after the DFM product line was deprioritised. FY26 revenue was ₹162.7 crore, up 18.4% YoY, with EBITDA of ₹48.3 crore at a 29.7% margin and PAT flat at ₹34.3 crore. Revenue is heavily geographic-concentrated: North America is 63% of revenue and overseas markets together contribute ~77%, while the top 10 clients account for 54% of revenue. 82% of revenue is classified as recurring, and the business is debt-free with ₹17 crore of cash (Q1 FY27) and ROCE of 152% and ROE of 137% (FY26). Employee costs are the dominant cost line at 49.4% of revenue, with other operating expenses at 20.9%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. IT services (AI-first delivery) (98%), DFM product (deprioritised). Asset-light, AI-first IT services with high revenue concentration in North America and a recurring-revenue-heavy model.
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 78 | 109 | 137 | 163 |
| EBITDA (ex other income) | 33 | 46 | 48 | 48 |
| margin % | 42.0 | 42.7 | 34.8 | 29.7 |
| Owners' profit | 25 | 34 | 34 | 34 |
| EPS, as reported (₹) | 20.85 | 28.81 | 14.47 | 14.48 |
| ROE % · ROCE % | 110.4 · 138.7 | 143.3 · 177.2 | 165.4 · 159.9 | 116.8 · 115.7 |
| Debt / equity (x) | 0.00 | 0.00 | 0.43 | 0.05 |
| Cash from operations | 21 | 33 | 34 | 31 |
| Capex | (1) | (2) | (7) | (2) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 35 | 38 | 33 | 38 | 40 | 42 | 43 | 41 |
| Profit before tax | 13 | 14 | 8 | 9 | 11 | 13 | 12 | 12 |
| Net profit | 9 | 10 | 6 | 6 | 8 | 10 | 10 | 9 |
| EPS (₹) | 7.75 | 8.70 | 2.47 | 0.00 | 3.55 | 4.13 | 4.09 | 3.88 |
| 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 5 Sept 2026 · Ksolves publishes newspaper notice for 12th AGM on Sep 26 | compliance | minimal | — | — |
| 5 Sept 2026 · Newspaper notice for 12th AGM on September 26, 2026 | compliance | minimal | — | — |
| 4 Sept 2026 · Ksolves India 12th AGM on September 26, 2026; e-voting September 23 to 25 | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Notice of 12th AGM on September 26, 2026 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Board re-appoints two independent directors, sets AGM date | management changes | medium | — | — |
| 30 Jul 2026 · Routine SDD Compliance Certificate under SEBI Insider Trading Rules | compliance | minimal | — | — |
| 22 Jul 2026 · Ksolves Q1FY27: revenue up 10%, margin expands, FY27 guidance withheld | investor communications | medium | — | — |
| 21 Jul 2026 · Ksolves submits Reg 74(5) cert; regulation not applicable | compliance | minimal | — | — |
| 17 Jul 2026 · Ksolves publishes Q1 FY26 results extract in newspapers | compliance | minimal | — | — |
| 15 Jul 2026 · Ksolves shares Q1 FY27 investor call recording link | investor communications | medium | — | — |
| 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 |
| TECH MAHINDRA LIMITED |
| 1,51,018 |
| 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) | 16.6 | 16.6 | 36 of 71 | 50% |
| P/B | 21.0 | 2.9 | 62 of 64 | 3% |
| ROCE | 113.5 | 14.2 | 1 of 78 | 100% |
| ROE | 116.8 | 11.5 | 1 of 67 | 100% |
| Debt / Equity | 0.1 | 0.0 | 40 of 68 | 42% |
| EBITDA margin | 31.9 | 18.4 | 8 of 65 | 89% |
| Revenue growth | 10.0 | 10.6 | 34 of 63 | 47% |
| Profit growth | 43.3 | 6.7 | 13 of 62 | 80% |
| Market cap | 617 | 475 | 35 of 75 | 54% |
| 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.
