BSE: 544189
SATTRIX INFORMATION SECURITY L
Provides cybersecurity services including managed security operations, security product deployment, and data protection compliance, operating a unified platform called NewEvol. Revenue is concentrated in the BFSI sector (58.3%) and the broader Enterprise segment (63.5%). Notable contracts include a three-year, ₹9.30 crore MSSP engagement with State Bank of India to run a Cyber Security Defence Centre, a ₹2.65 crore firewall and license supply order from a domestic Tier-1 enterprise, and ₹12.45 crore of purchase orders received in June 2026 spanning cybersecurity products, licensing, implementation, and annual maintenance. Operations span India, the USA, the UAE, and Malaysia, supported by a wholly-owned Dubai subsidiary (FZCO) and a 51%-owned Malaysian unit (SDN BHD), with admission as a member of CREST International, a cybersecurity accreditation body. Employee costs are 15.6% of revenue and material inputs are negligible. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Enterprise segment (64%), BFSI sector (58%). Asset-light cybersecurity services with a high recurring revenue component and multi-year managed service contracts.
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 45 | 61 |
| EBITDA (ex other income) | — | — |
| margin % | — | — |
| Owners' profit | — | — |
| EPS, as reported (₹) | 6.27 | 11.10 |
| ROE % · ROCE % | — · 16.7 | — · 5.8 |
| Debt / equity (x) | — | — |
| Cash from operations | (7) | 2 |
| Capex | (8) | (152) |
Exhibit 2: Quarterly performance, last 4 quarters
| ₹ crore | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|
| Revenue | 22 | 22 | 28 | 33 |
| Profit before tax | 1 | 5 | 3 | 8 |
| Net profit | — | — | — | — |
| EPS (₹) | 0.65 | 5.37 | 2.95 | 7.74 |
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. | 44,149 | 33.4 | 6.80 | 20.4 | 19.7 | 21.1 | 15.1 | 19.6 |
| INVENTURUS KNOWLEDGE SO L | 29,130 | 37.4 | 10.40 | 26.5 | 25.8 | 27.7 | — | 33.6 |
| TATA TECHNOLOGIES LIMITED | 26,718 | 48.0 | 6.81 | 29.0 | 13.9 | 14.3 | — | 18.3 |
| NETWEB TECH INDIA LTD | 24,780 | 94.8 | 34.26 | — | 28.5 | 37.5 | — | 15.7 |
| SAGILITY LIMITED | 21,553 | 21.7 | 2.23 | 12.2 | 9.6 | 11.6 | — | 22.3 |
| AFFLE 3I LIMITED | 19,072 | 39.9 | 5.22 | 26.0 | 12.5 | 15.2 | 39.3 | 25.8 |
| BLACK BOX LIMITED | 14,377 | 61.6 | 11.17 | 28.6 | 16.9 | 9.5 | 6.2 | 8.4 |
| CYIENT LIMITED | 13,177 | 34.6 | 2.14 | 11.9 | 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) | 17.4 | 17.5 | 38 of 76 | 51% |
| ROCE | 5.5 | 9.6 | 58 of 86 | 33% |
| Market cap | 329 | 296 | 43 of 87 | 51% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 19 Oct 2026 · Routine RTA certificate filing for Q2 FY27 under SEBI Reg 74(5) | compliance | minimal | — | — |
| 8 Oct 2026 · Trademark applications of subsidiary accepted by registry | business updates | low | — | — |
| 7 Oct 2026 · Withdrawal of press release on September 2026 purchase orders | compliance | minimal | — | — |
| 7 Oct 2026 · Sattrix secures purchase orders worth Rs 47.54 lakh in September 2026 | business updates | medium | — | — |
| 29 Sept 2026 · Trading Window Closed Ahead of H1 Audited Results | compliance | minimal | — | — |
| 22 Sept 2026 · Sattrix 13th AGM: 6 resolutions passed, ESOP revised, IPO proceeds reallocated | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Corrigendum to AGM Notice - Revised SATTRIX ESOP Scheme 2026 | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Board approves revised ESOP scheme and AGM corrigendum | corporate actions | medium | — | — |
| 3 Sept 2026 · Board meeting on 8 Sep to revise ESOP scheme and issue AGM corrigendum | capital market events | medium | — | — |
| 3 Sept 2026 · Board meet revised to approve revised ESOP scheme and AGM corrigendum | corporate actions | 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.