BSE: 517119
PCS TECHNOLOGY LTD.
An IT-enabled services company operates in a single segment described as 'TES related Facility Management', but its revenue from operations is minimal — around Rs 1.18 lakh per quarter in Q3 FY26, with the bulk of its total income coming from 'Other Income', largely returns on bond investments. In FY26, consolidated total income was Rs 422.38 lakhs, against which it booked a net profit of Rs 173.45 lakhs. The company is debt-free and holds Rs 33.80 crore in cash reserves (standalone), though operating cash flows were negative during the year (negative Rs 43.52 lakhs standalone, negative Rs 45.79 lakhs consolidated). Employee and other operating costs both dwarf operational revenue, as the cost structure is sized for a scale of activity far larger than current operations. Statutory auditors (Vinod K Mehta & Co.) have given unmodified opinions on FY26 and limited-review opinions on recent quarterly results. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. TES related Facility Management, Other Income (returns on bond investments). Small, cash-rich BSE-listed shell with negligible operational activity; income driven by returns on a bond portfolio
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| EBITDA (ex other income) | (1) | (1) | (1) | (1) | (1) |
| margin % | (260.0) | (430.3) | (317.1) | (344.7) | (309.4) |
| Owners' profit | 0 | 0 | 0 | 0 | 2 |
| EPS, as reported (₹) | 0.41 | 0.19 | 0.49 | 0.64 | 0.81 |
| ROE % · ROCE % | 2.0 · 3.1 | 0.9 · 2.5 | 2.3 · 3.7 | 3.0 · 5.0 | 3.7 · 4.9 |
| Debt / equity (x) | 0.09 | 0.09 | 0.09 | 0.00 | 0.00 |
| Cash from operations | (1) | (1) | (1) | 1 | (0) |
| Capex | 0 | 0 | (0) | (1) | (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 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Net profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.14 | 0.14 | 0.16 | 0.19 | 0.21 | 0.19 | 0.22 | 0.20 |
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. % |
|---|---|---|---|---|---|---|---|---|
| L&T TECHNOLOGY SER. LTD. | 43,370 | 32.9 | 6.68 | 20.0 | 19.7 | 21.1 | 15.1 | 19.6 |
| INVENTURUS KNOWLEDGE SO L | 28,839 | 37.0 | 10.30 | 26.2 | 25.8 | 27.7 | — | 33.6 |
| TATA TECHNOLOGIES LIMITED | 26,430 | 47.4 | 6.74 | 28.7 | 13.9 | 14.3 | — | 18.3 |
| NETWEB TECH INDIA LTD | 25,071 | 95.9 | 34.66 | — | 28.5 | 37.5 | — | 15.7 |
| SAGILITY LIMITED | 21,192 | 21.4 | 2.19 | 12.0 | 9.6 | 11.6 | — | 22.3 |
| AFFLE 3I LIMITED | 19,968 | 41.7 | 5.47 | 27.3 | 12.5 | 15.2 | 39.3 | 25.8 |
| BLACK BOX LIMITED | 14,418 | 61.8 | 11.20 | 28.7 | 16.9 | 9.5 | 6.2 | 8.4 |
| CYIENT LIMITED | 12,888 | 33.8 | 2.09 | 11.7 | 7.5 | 9.7 | 12.0 | 13.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 25.6 | 17.9 | 50 of 76 | 33% |
| P/B | 0.9 | 2.2 | 18 of 70 | 75% |
| ROCE | 4.8 | 9.6 | 60 of 86 | 31% |
| ROE | 3.7 | 9.2 | 48 of 70 | 32% |
| Debt / Equity | 0.0 | 0.0 | 1 of 70 | 74% |
| EBITDA margin | 549.1 | 13.0 | 2 of 69 | 99% |
| Revenue growth | 30.7 | 20.8 | 22 of 67 | 68% |
| Profit growth | 6.4 | 14.6 | 37 of 64 | 43% |
| Market cap | 44 | 325 | 71 of 87 | 19% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board to approve results for quarter and half year ended September 2026 | results | low | — | — |
| 13 Oct 2026 · Quarterly certificate on dematerialisation of shares submitted to BSE | compliance | minimal | — | — |
| 30 Sept 2026 · PCS Technology 45th AGM voting results: All 3 resolutions passed | board shareholder meetings | low | — | — |
| 29 Sept 2026 · PCS Technology 45th AGM held on Sep 29, 2026 - all resolutions passed | board shareholder meetings | medium | — | — |
| 23 Sept 2026 · BSE seeks clarification from PCS Technology on unusual price movement | regulatory legal | medium | — | — |
| 21 Sept 2026 · Trading window closes Oct 1 ahead of Q2 FY2027 results | compliance | minimal | — | — |
| 4 Sept 2026 · PCS Technology corrigendum fixes AGM timing for September 29 meeting | compliance | minimal | — | — |
| 3 Sept 2026 · Notice of 45th AGM on September 29, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Corrigendum to 45th Annual Report; AGM time corrected to 12:30 PM | results | low | — | — |
| 3 Sept 2026 · PCS Technology submits 45th AGM notice newspaper clippings to BSE | compliance | minimal | — | — |
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.