BSE: 544643
PRODOCS SOLUTIONS LIMITED
Provides IT-enabled services, with the filings stating over 90% of FY26 revenue came from US clients. Operations are run through the parent company and two US subsidiaries — Prodocs Solutions Inc. and Edata Solutions Inc. — both brought into the group in April 2025. Consolidated FY26 revenue stood at Rs 5,523.17 lakh, against standalone revenue of Rs 4,512.90 lakh, and the step-down US subsidiary Edata Solutions Inc. is reported to have turnover of about Rs 46.3 crore as of 31 December 2025. The company completed an IPO in December 2025, raising Rs 22.08 crore of fresh equity, of which Rs 14.30 crore (65%) was deployed by 31 March 2026 with Rs 7.78 crore remaining unutilized and parked in Axis Bank accounts and FDs. Like most IT-services peers, staff costs are the dominant input, accounting for 45.1% of FY26 revenue, and FY26 standalone operating cash flow was negative at Rs -150.07 lakh (consolidated Rs -1,121.23 lakh) because of higher trade receivables and loans and advances. The board has also approved further investments of up to USD 1.5 million each into Prodocs Solutions Inc. and Edata Solutions Inc., now pushed back to 31 March 2027 due to USD/INR volatility. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. IT-enabled services. IT-enabled services with concentrated US exposure and a recently expanded US subsidiary base
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 55 |
| EBITDA (ex other income) | 14 |
| margin % | 24.8 |
| Owners' profit | — |
| EPS, as reported (₹) | 15.99 |
| ROE % · ROCE % | — · 25.7 |
| Debt / equity (x) | — |
| Cash from operations | (11) |
| Capex | (5) |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q4 FY26 |
|---|---|
| Revenue | 31 |
| Profit before tax | 9 |
| Net profit | — |
| EPS (₹) | 9.83 |
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. | 45,050 | 29.3 | 6.34 | 22.4 | 12.8 | 12.8 | 15.1 | 19.3 |
| INVENTURUS KNOWLEDGE SO L | 28,294 | 34.6 | 8.29 | 26.2 | 11.9 | 5.5 | — | 27.7 |
| TATA TECHNOLOGIES LIMITED | 26,982 | 47.9 | 7.04 | 31.6 | 9.2 | 9.3 | — | 16.1 |
| NETWEB TECH INDIA LTD | 22,458 | 59.1 | 10.67 | — | 10.5 | 14.0 | — | 14.9 |
| AFFLE 3I LIMITED | 22,132 | 44.5 | 5.23 | 34.3 | 6.1 | 7.4 | 39.3 | 23.2 |
| SAGILITY LIMITED | 20,336 | 19.8 | 1.99 | 12.0 | 4.9 | 5.9 | — | 25.2 |
| BLACK BOX LIMITED | 14,386 | 61.7 | 11.18 | 25.8 | 16.9 | 9.5 | 6.2 | 9.3 |
| AMAGI MEDIA LABS LIMITED | 12,180 | 123.7 | 6.93 | 236.2 | 4.1 | 4.8 | — | 6.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 14.7 | 17.6 | 30 of 75 | 61% |
| ROCE | 22.3 | 6.8 | 6 of 80 | 94% |
| EBITDA margin | 28.6 | 10.9 | 7 of 85 | 93% |
| Market cap | 102 | 324 | 58 of 87 | 34% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 16 Oct 2026 · Postal Ballot Notice published in newspapers for remote e-voting | compliance | minimal | — | — |
| 15 Oct 2026 · Postal Ballot: 3 Material Related Party Transactions for Member Approval | board shareholder meetings | low | — | — |
| 9 Oct 2026 · Board approves buying remaining 40 percent stake in US step-down arm | strategic transactions | medium | — | — |
| 9 Oct 2026 · Board approves acquisition of 40% stake in eData Solutions INC USA | strategic transactions | medium | — | — |
| 9 Oct 2026 · Board okays related party deals: eData stake buy, Gemini guarantee | general | medium | — | — |
| 6 Oct 2026 · Routine quarterly compliance certificate filed with BSE | compliance | minimal | — | — |
| 30 Sept 2026 · Prodocs Solutions AGM: 8 resolutions passed, Re 1 dividend declared | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Prodocs Solutions 7th AGM held, 8 resolutions tabled including Rs.1 dividend | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading Window Closed from Oct 1 for Half-Year Results | compliance | minimal | — | — |
| 22 Sept 2026 · Board approves new buyer for 19% stake sale in Sevasarthi Info Solution | strategic transactions | 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.