Sells lending and transaction banking software products to banks and non-banking financial companies, with FinnOne Neo as the flagship lending platform, now including embedded AI capabilities across the loan lifecycle. The customer base spans 200-plus banks across 50 countries. India is the largest market, contributing 58.3% of FY26 segment revenue at Rs 510.81 cr, followed by South East Asia at 11.5% (Rs 100.95 cr) and the Middle East at 11.4% (Rs 100.23 cr); the South East Asia segment is currently loss-making at the EBIT level. Order book stood at Rs 1,244 cr as of 30 June 2026, with 88% (Rs 1,096 cr) from products, more than doubling year-on-year, while 7 new client logos were added in FY26 and top-five client concentration was 29.3%. Revenue is heavily dependent on people: employee costs absorb 67.3% of revenue and other operating expenses take another 18.4%, with capex at 3.2% of revenue. The Q1 FY27 quarter saw EBITDA margin drop to 3.6% from 15.4% in the prior quarter, on a salary revision and stepped-up sales and marketing spend. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. India (58%), South East Asia (12%), Middle East (11%), Others (7%), Europe (5%), Far East (4%), Australia (2%), Africa (1%). Product-led, people-heavy software products company; geographically diversified with India dominance
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 497 | 634 | 826 | 832 | 876 |
| EBITDA (ex other income) | 37 | 157 | 220 | 168 | 104 |
| margin % | 7.4 | 24.7 | 26.7 | 20.2 | 11.8 |
| Owners' profit | 41 | 128 | 192 | 163 | 117 |
| EPS, as reported (₹) | 14.28 | 47.73 | 71.56 | 61.40 | 44.35 |
| ROE % · ROCE % | 8.3 · 10.8 | 20.9 · 26.8 | 24.6 · 31.4 | 20.0 · 25.3 | 12.9 · 15.4 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 58 | 50 | 222 | 151 | 117 |
| Capex | (24) | (4) | (29) | (15) | (28) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 202 | 206 | 229 | 218 | 214 | 220 | 225 | 210 |
| Profit before tax | 47 | 45 | 88 | 48 | 35 | 25 | 42 | 30 |
| Net profit | 33 | 35 | 65 | 35 | 26 | 21 | 35 | 24 |
| EPS (₹) | 12.35 | 13.28 | 24.60 | 13.37 | 9.99 | 7.86 | 13.12 | 9.07 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| India | 380 | 43.3 |
| Far East | 23 | 2.6 |
| South East Asia | 75 | 8.6 |
| Europe | 31 | 3.5 |
| Middle East | 78 | 8.9 |
| Africa | 7 | 0.8 |
| Australia | 14 | 1.6 |
| Others | 49 | 5.6 |
| INDIA | 131 | 15.0 |
| FOR EAST | 8 | 0.9 |
| SOUTH EAST AFRICA | 26 | 2.9 |
| EUROPE | 9 | 1.1 |
| MIDDLE EAST | 22 | 2.5 |
| AFRICA | 3 | 0.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 1 Sept 2026 · Nucleus Software updates insider trading conduct policy | compliance | low | — | — |
| 17 Aug 2026 · Nucleus Software Trust to buy shares for RSU vesting pool | corporate actions | medium | — | — |
| 17 Aug 2026 · Nucleus Software Trust to Buy Up to 1.14 Lakh Shares for RSU Scheme | capital market events | low | — | — |
| 12 Aug 2026 · Stanbic IBTC Bank upgrades to Nucleus Software's FinnAxia 9.0 platform | business updates | medium | — | — |
| 12 Aug 2026 · Stanbic IBTC Bank upgrades to Nucleus Software FinnAxia 9.0 platform | compliance | low | — | — |
| 6 Aug 2026 · Nucleus Software launches FinnOne Neo 9.0 and FinnAxia 9.0 in Vietnam with FPT | business updates | medium | — | — |
| 3 Aug 2026 · Q1 FY27 Earnings Call: Margins Crash, Order Book Strong | investor communications | medium | — | — |
| 2 Aug 2026 · Grant of 9060 RSUs under Nucleus Software RSU Scheme 2026 | capital market events | medium | — | — |
| 31 Jul 2026 · Nucleus Software shares Q1 FY27 earnings call recording | investor communications | medium | — | — |
| 31 Jul 2026 · Newspaper publication of Q1 FY27 financial results | compliance | minimal | — | — |
| 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 |
| AUSTRALIA | 6 | 0.7 |
| OTHERS | 15 | 1.7 |
| Total, before eliminations | 876 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ORACLE FIN SERV SOFT LTD. | 1,02,338 | 30.0 | 13.08 | 26.9 | 33.7 | 43.2 | 9.0 | 62.5 |
| TANLA PLATFORMS LIMITED | 6,684 | 12.5 | 2.69 | 7.8 | 20.5 | 25.0 | 13.5 | 17.6 |
| C.E. INFO SYSTEMS LIMITED | 5,056 | 36.8 | 5.59 | 21.9 | 14.8 | 21.3 | — | 54.2 |
| CAPILLARY TECHNO INDIA L | 3,656 | 86.5 | 3.57 | 27.9 | 5.1 | 4.9 | — | 4.9 |
| TECHNVISION VENTURES LTD. | 2,991 | 344.1 | 199.35 | 399.6 | 1.4 | 5.5 | 25.5 | (3.0) |
| RAMCO SYSTEMS LTD. | 2,239 | 53.6 | 6.33 | 14.7 | 11.9 | 11.0 | 2.3 | 16.0 |
| Mobavenue AI Tech Limited | 2,135 | 16.9 | 23.58 | 44.6 | 32.4 | 30.8 | — | 21.8 |
| NUCLEUS SOFTWARE EXPORTS ◆ | 1,828 | 17.3 | 2.01 | 10.4 | 12.9 | 15.2 | 11.3 | 16.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.3 | 19.0 | 19 of 41 | 55% |
| P/B | 2.0 | 1.6 | 21 of 38 | 46% |
| ROCE | 15.2 | 4.9 | 9 of 43 | 81% |
| ROE | 12.9 | 3.5 | 9 of 42 | 81% |
| Debt / Equity | 0.0 | 0.0 | 5 of 42 | 46% |
| EBITDA margin | 16.9 | 17.2 | 19 of 35 | 47% |
| Revenue growth | (3.4) | 9.7 | 24 of 33 | 28% |
| Profit growth | (32.2) | (12.0) | 24 of 41 | 43% |
| Market cap | 1828 | 38 | 8 of 44 | 84% |
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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 |
| 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.
