BSE: 543282
Niks Technology Limited
Provides agricultural drone spray services, which is its sole operating revenue stream, and also sells drone parts. The drone spray services business, which is the primary revenue driver, generated Rs. 734.81 lakhs in FY25 and Rs. 531.06 lakhs in H1 FY26, contributing all of the revenue from operations in the first half of FY26. The drone parts sale segment contributed nothing in H1 FY26. Total revenue from operations stood at Rs. 689.71 lakhs in FY26, down from Rs. 900.95 lakhs in FY25. Profit after tax fell to Rs. 20.38 lakhs in FY26 from Rs. 45.05 lakhs in FY25. The cost structure is dominated by other operating expenses at 86.7% of revenue, with employee costs at 3.4% and negligible raw material costs. The company holds Rs. 264.52 lakhs in cash and is debt-free. It is listed on the BSE SME platform under scrip code 543282 with a registered office in Patna, Bihar. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Drone Spray Services, Drone Parts Sale. Small-cap, debt-free drone services and parts company on BSE SME platform
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 2 | 6 | 9 | 7 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | 0.04 | 7.13 | 11.67 | 9.74 | 4.08 |
| ROE % · ROCE % | — · 1.8 | — · 28.5 | — · 15.0 | — · 10.4 | — · 4.3 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (0) | 1 | (2) | (0) | 0 |
| Capex | — | — | — | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q4 FY22 | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 2 | 4 | 4 | 5 | 2 |
| Profit before tax | (0) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | (0.40) | 1.25 | 5.88 | 9.01 | 2.66 | 3.38 | 2.66 | 1.42 |
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 | 8,87,298 | 17.8 | 8.18 | 12.2 | 45.6 | 53.9 | 10.2 | 26.9 |
| INFOSYS LIMITED | 4,55,550 | 15.2 | 4.88 | 9.6 | 31.6 | 38.6 | 12.2 | 25.7 |
| HCL TECHNOLOGIES LTD | 3,78,281 | 21.6 | 5.03 | 13.6 | 22.1 | 26.2 | 11.5 | 20.9 |
| WIPRO LTD | 1,82,720 | 14.6 | 2.07 | 8.7 | 15.0 | 17.1 | 8.4 | 22.9 |
| TECH MAHINDRA LIMITED | 1,74,293 | 30.7 | 5.79 | 19.5 | 16.0 | 18.8 | 8.5 | 16.8 |
| LTM LIMITED | 1,21,357 | 23.2 | 5.03 | 14.7 | 20.7 | 24.8 | 27.9 | 20.0 |
| PERSISTENT SYSTEMS LTD | 91,811 | 47.3 | 11.71 | 31.4 | 23.8 | 28.5 | 28.6 | 17.8 |
| COFORGE LIMITED | 86,606 | 39.8 | 8.95 | 30.9 | 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) | 44.4 | 15.0 | 59 of 65 | 9% |
| ROCE | 4.3 | 14.2 | 56 of 76 | 27% |
| Revenue growth | (15.7) | 10.6 | 56 of 63 | 11% |
| Market cap | 22 | 419 | 66 of 76 | 13% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · Routine SEBI 74(5) compliance filing for Q2 FY27 | compliance | minimal | — | — |
| 2 Oct 2026 · Niks Technology 12th AGM: all 12 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Niks Technology 12th AGM held; 12 resolutions passed including preferential share issue | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1, 2026 until 48 hrs after H2 FY26 results | compliance | minimal | — | — |
| 28 Sept 2026 · Corrigendum to AGM notice listing 95 allottees for preferential share issue | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Open Offer at Rs 136 per share for 26% stake in Niks Technology | strategic transactions | high | — | — |
| 17 Sept 2026 · Open Offer at Rs 136 per share for Niks Technology, change of control | strategic transactions | high | — | — |
| 16 Sept 2026 · Open Offer for 23.17 lakh shares at Rs 136 each, change of control | strategic transactions | high | — | — |
| 9 Sept 2026 · Open Offer at Rs 136 per share for 26 percent stake in Niks Technology | strategic transactions | high | — | — |
| 9 Sept 2026 · Niks Technology promoters sell 46.22% stake; control to change, open offer triggered | strategic transactions | high | — | — |
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.