BSE: 509040
NETLINK SOLUTIONS (INDIA) LTD.
Operates across website and IT services, information media (magazine publishing), and exhibition management, but all three operating lines contributed negligible revenue in FY26 — revenue from operations was just Rs 4.81 lakhs. The dominant revenue segment is "Treasury," which recorded Rs 3.3753 crore in FY26 and accounted for 100% of period segment revenue, reflecting interest income from cash balances and inter-corporate lending rather than any product or service sale. The Information Media segment that contributed Rs 6.36 crore in FY25 dropped to zero revenue in FY26. Following a Share Purchase Agreement dated April 9, 2025 under which Arix Capital Limited acquired 51% of holding company Jupiter Infomedia Limited, the company saw a change of control, a mandatory open offer, and a complete overhaul of its board and KMPs. The new management has sought shareholder approval to add a new object clause covering the manufacture, trade, and export of tungsten-based products (tungsten carbide powder, cobalt metal powder) for automotive, aerospace, defence, nuclear, medical, and oil & gas sectors, and to shift the registered office from Maharashtra to Gujarat. Total income for FY26 fell 63% to Rs 345.80 lakhs from Rs 935.94 lakhs, while cash and equivalents collapsed from Rs 950.24 lakhs to Rs 49.64 lakhs after a Rs 2,900 lakhs loan was extended during the year. Employee cost at 1871.3% of operating revenue is the dominant expense line, illustrating a cost base that is entirely disproportionate to current operating scale. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Treasury (100%), Website and Information Technology Services, Information Media (Magazine), Exhibition Management. Post-takeover shell-like entity; operating businesses are dormant and treasury/interest income is the de facto revenue source, pending entry into tungsten products
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 2 | 2 | 0 | 0 |
| EBITDA (ex other income) | (1) | 1 | 1 | (2) | (1) |
| margin % | (113.1) | 35.3 | 27.7 | (815.2) | (2728.5) |
| Owners' profit | 1 | 5 | 9 | 5 | 2 |
| EPS, as reported (₹) | 5.85 | 18.88 | 36.37 | 21.17 | 8.02 |
| ROE % · ROCE % | 13.4 · 15.3 | 30.2 · 34.6 | 36.8 · 42.5 | 17.6 · 22.3 | 6.3 · 5.9 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (1) | 2 | 6 | 2 | (2) |
| Capex | 0 | (0) | (0) | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 2 | 8 | (1) | (2) | 2 | (0) | 0 | (0) |
| Net profit | 2 | 6 | (1) | (2) | 2 | (0) | 0 | (0) |
| EPS (₹) | 6.75 | 25.15 | (3.02) | (7.71) | 6.87 | (0.71) | 1.95 | (0.08) |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Website and Information Technology services | 0 | 0.3 |
| Treasury | 3 | 78.0 |
| Other Unallocable | 0 | 1.0 |
| a) Software Development | 0 | 0.7 |
| d) Treasury | 1 | 19.6 |
| Website and Information Technology Services | 0 | 0.3 |
| Total, before eliminations | 3 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ORACLE FIN SERV SOFT LTD. | 86,374 | 25.3 | 11.04 | 22.6 | 33.7 | 43.2 | 9.0 | 62.5 |
| TANLA PLATFORMS LIMITED | 7,716 | 14.4 | 3.10 | 9.2 | 20.5 | 25.0 | 13.5 | 17.6 |
| CAPILLARY TECHNO INDIA L | 4,593 | 108.7 | 4.49 | 35.0 | 5.1 | 4.9 | — | 4.9 |
| C.E. INFO SYSTEMS LIMITED | 4,544 | 33.0 | 5.02 | 19.7 | 14.8 | 21.3 | — | 54.2 |
| TECHNVISION VENTURES LTD. | 2,337 | 10640.6 | 155.78 | 311.9 | 1.4 | 5.5 | 25.5 | (3.0) |
| Mobavenue AI Tech Limited | 2,048 | 16.2 | 22.62 | 42.8 | 32.4 | 30.8 | — | 21.8 |
| RAMCO SYSTEMS LTD. | 1,900 | 45.5 | 5.37 | 12.3 | 11.9 | 11.0 | 2.3 | 16.0 |
| NUCLEUS SOFTWARE EXPORTS | 1,770 | 16.8 | 1.95 | 10.1 | 12.9 | 15.2 | 11.3 | 16.9 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 22.1 | 18.3 | 19 of 32 | 42% |
| P/B | 1.4 | 1.5 | 17 of 38 | 57% |
| ROCE | 5.9 | 4.8 | 18 of 40 | 56% |
| ROE | 6.3 | 3.5 | 15 of 38 | 62% |
| Debt / Equity | 0.0 | 0.0 | 1 of 38 | 51% |
| EBITDA margin | 89.6 | 17.2 | 3 of 35 | 94% |
| Revenue growth | (15.9) | 9.7 | 28 of 33 | 16% |
| Profit growth | 98.9 | (12.0) | 10 of 41 | 78% |
| Market cap | 45 | 41 | 22 of 44 | 51% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Independent Director ceases at AGM | management changes | medium | — | — |
| 13 Oct 2026 · Registered office shifting from Maharashtra to Gujarat effective Oct 14, 2026 | general | low | — | — |
| 6 Oct 2026 · Routine SEBI compliance certificate for Q2 FY26-27 filed | compliance | minimal | — | — |
| 30 Sept 2026 · 41st AGM results: All 4 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Netlink Solutions 41st AGM held; four resolutions tabled | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading Window Closure for Q2 FY27 (ending 30 Sep 2026) | compliance | minimal | — | — |
| 22 Sept 2026 · Registered office shifting from Maharashtra to Gujarat approved | regulatory legal | low | — | — |
| 8 Sept 2026 · Newspaper publication of 41st AGM notice filed with BSE | compliance | minimal | — | — |
| 7 Sept 2026 · Netlink Solutions submits 41st AGM notice and FY26 annual report | board shareholder meetings | medium | — | — |
| 7 Sept 2026 · Netlink Solutions 41st AGM notice and FY26 annual report filed | board shareholder meetings | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
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| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
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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.