NSE: LATENTVIEW · BSE: 543398
LATENT VIEW ANALYTICS LTD
Latent View Analytics is an AI-driven analytics and data engineering firm that earns revenue primarily from professional services. In FY26, it crossed ₹1,060 crore in revenue at roughly 2.2x its IPO-year level, with AI now embedded in ~49% of FY26 revenues (28% primary AI directly visible to clients, plus 21% under-the-hood). It serves 50+ Fortune 500 clients across technology, financial services (BFSI), consumer/CPG and other verticals, exporting 89.76% of revenue from 5 Indian and 14 international offices. The BFSI vertical grew 80%+ YoY in FY26 to ~$18M annual revenue, and the Databricks ecosystem business grew 46% to $17.5M. The geographic mix is diversifying — the US share fell from 94% to 85% over ~8 quarters as the Rest of World share grew from 6% to 15%. The company is people-intensive: employee compensation is 66.6% of revenue, with other operating expenses at 11.1% and depreciation at 3.9%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Technology vertical (55%), BFSI / Financial Services (16%), Consumer / CPG, Rest of World (geographic) (15%). People-intensive, asset-light AI and analytics services firm
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 408 | 539 | 641 | 848 | 1,060 |
| EBITDA (ex other income) | 144 | 145 | 136 | 196 | 236 |
| margin % | 35.4 | 26.9 | 21.2 | 23.1 | 22.3 |
| Owners' profit | 130 | 155 | 159 | 174 | 198 |
| EPS, as reported (₹) | 7.09 | 7.71 | 7.73 | 8.45 | 9.59 |
| ROE % · ROCE % | 12.6 · 15.0 | 12.9 · 15.6 | 11.5 · 14.3 | 11.3 · 14.2 | 11.3 · 14.7 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 87 | 97 | 115 | 130 | 165 |
| Capex | (7) | (3) | (5) | (16) | (22) |
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 | 209 | 228 | 232 | 236 | 258 | 278 | 289 | 287 |
| Profit before tax | 58 | 56 | 62 | 62 | 62 | 67 | 71 | 65 |
| Net profit | 41 | 43 | 51 | 51 | 46 | 51 | 55 | 47 |
| EPS (₹) | 1.94 | 2.03 | 2.59 | 2.46 | 2.15 | 2.43 | 2.55 | 2.33 |
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. % |
|---|---|---|---|---|---|---|---|---|
| TATA CONSULTANCY SERV LT | 9,03,878 | 18.1 | 8.33 | 12.4 | 45.6 | 53.9 | 10.2 | 26.9 |
| INFOSYS LIMITED | 4,71,713 | 15.7 | 5.06 | 9.9 | 31.6 | 38.6 | 12.2 | 25.7 |
| HCL TECHNOLOGIES LTD | 3,85,530 | 22.1 | 5.13 | 13.8 | 22.1 | 26.2 | 11.5 | 20.9 |
| WIPRO LTD | 1,85,195 | 14.8 | 2.10 | 8.8 | 15.0 | 17.1 | 8.4 | 22.9 |
| TECH MAHINDRA LIMITED | 1,77,517 | 31.3 | 5.90 | 19.9 | 16.0 | 18.8 | 8.5 | 16.8 |
| LTM LIMITED | 1,20,167 | 23.0 | 4.98 | 14.5 | 20.7 | 24.8 | 27.9 | 20.0 |
| PERSISTENT SYSTEMS LTD | 92,008 | 47.4 | 11.74 | 31.5 | 23.8 | 28.5 | 28.6 | 17.8 |
| COFORGE LIMITED | 88,367 | 40.6 | 9.13 | 31.5 | 18.0 | 17.2 | 28.6 | 18.6 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 23.6 | 15.1 | 40 of 65 | 39% |
| P/B | 2.6 | 2.6 | 32 of 65 | 52% |
| ROCE | 14.1 | 14.2 | 39 of 76 | 49% |
| ROE | 11.3 | 11.5 | 35 of 64 | 46% |
| Debt / Equity | 0.0 | 0.0 | 1 of 65 | 67% |
| EBITDA margin | 27.2 | 18.4 | 11 of 65 | 84% |
| Revenue growth | 21.6 | 10.6 | 16 of 63 | 76% |
| Profit growth | (6.8) | 6.7 | 39 of 62 | 38% |
| Market cap | 4612 | 425 | 23 of 76 | 71% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 21 Oct 2026 · Latent View Analytics Q2FY27 earnings call on Nov 2 at 9:00 AM IST | board shareholder meetings | low | — | — |
| 12 Oct 2026 · Quarterly compliance certificate submission under SEBI Regulation 74(5) | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1 to Nov 2 ahead of Q2 results | compliance | minimal | — | — |
| 28 Sept 2026 · Board meeting on Oct 31 to consider Q2 and H1 FY27 results | results | low | — | — |
| 18 Sept 2026 · Latent View gets ESG rating of 76.49 from Niche99 | business updates | medium | — | — |
| 16 Sept 2026 · Analyst meeting scheduled with Equirus Securities on Sep 16 | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Allotment of 1,58,250 equity shares under ESOP 2016 | capital market events | low | — | — |
| 3 Sept 2026 · Latent View Analytics gets ESG rating of 76 for FY2026 | business updates | medium | — | — |
| 18 Aug 2026 · Latent View Analytics assigned unsolicited ESG rating of 77 | general | medium | — | — |
| 10 Aug 2026 · Latent View Q1 FY27: new CEO, USD 30.3M revenue, retains 12% growth guidance | investor communications | 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.