NSE: TRACXN · BSE: 543638
TRACXN TECHNOLOGIES LTD
Sells subscription-based data on private companies and startups to investors, advisors, corporates and universities. In FY26, FY revenue was ₹83.97 crore, split between India (₹38.2 crore) and International (₹45.8 crore). India revenue grew 15% YoY in Q4 (annualised ~22%) on the back of new data set launches and vertical sales teams, while International revenue declined ₹5 crore YoY as venture capital and private equity deal volumes stayed near a 10-year low. The customer base was 2,289 accounts (+19% YoY) covering 6,227 users (+23% YoY), with growth coming from investment banking, corporate sales, and university segments rather than VC/PE. The product is delivered as a web platform and is being extended with AI-native access, including an MCP connector to Claude and an AI chat assistant in private beta, with management expecting AI to start contributing to revenue from FY27. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. India, International. Subscription-based data services business with high people cost, not yet profitable at the operating level
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 78 | 83 | 84 | 84 |
| EBITDA (ex other income) | 7 | 5 | 1 | (8) |
| margin % | 9.0 | 5.5 | 1.0 | (9.4) |
| Owners' profit | 33 | 7 | (10) | (8) |
| EPS, as reported (₹) | 3.30 | 0.61 | (0.89) | (0.73) |
| ROE % · ROCE % | 55.4 · 15.9 | 9.2 · 11.6 | (14.5) · 9.3 | (15.0) · (3.2) |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 15 | 11 | 14 | (3) |
| Capex | (0) | (0) | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 21 | 21 | 21 | 21 | 21 | 21 | 20 | 21 |
| Profit before tax | 2 | 2 | 1 | 1 | 1 | (1) | (3) | (3) |
| Net profit | (5) | 1 | (8) | 1 | (6) | (1) | (3) | (3) |
| EPS (₹) | (0.43) | 0.13 | (0.71) | 0.10 | (0.52) | (0.08) | (0.24) | (0.28) |
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. % |
|---|---|---|---|---|---|---|---|---|
| TRACXN TECHNOLOGIES LTD ◆ | 349 | — | 6.64 | — | (15.0) | (3.2) | — | (12.9) |
| Megri Soft Limited | 25 | 39.8 | 1.07 | 24.9 | 2.7 | 3.6 | 6.1 | 38.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 6.6 | 1.2 | 243 of 274 | 11% |
| ROCE | (3.2) | 3.2 | 274 of 319 | 14% |
| ROE | (15.0) | 2.7 | 275 of 299 | 8% |
| Debt / Equity | 0.0 | 0.1 | 1 of 273 | 72% |
| EBITDA margin | (12.9) | 7.9 | 223 of 257 | 13% |
| Revenue growth | (0.6) | 6.9 | 142 of 255 | 45% |
| Profit growth | (368.8) | 1.2 | 268 of 296 | 10% |
| Market cap | 349 | 29 | 53 of 328 | 84% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Tracxn allots 18,620 shares under ESOP 2016 | capital market events | low | — | — |
| 6 Oct 2026 · Tracxn submits Q2 FY27 dematerialisation compliance certificate | compliance | minimal | — | — |
| 25 Sept 2026 · Trading Window Closure for Q2 FY27 Results | compliance | minimal | — | — |
| 8 Sept 2026 · Tracxn allots 30,048 shares under ESOP 2016 at Re 1 each | capital market events | low | — | — |
| 27 Aug 2026 · Grant of 135,404 stock options to employees under ESOP 2016 | capital market events | low | — | — |
| 19 Aug 2026 · AGM voting results: all 5 resolutions passed with over 99.99% support | compliance | minimal | — | — |
| 17 Aug 2026 · Tracxn 14th AGM held on Aug 17, 2026; 5 resolutions tabled | board shareholder meetings | low | — | — |
| 8 Aug 2026 · ESOP Allotment: 6,442 Shares Issued Under ESOP 2016 | capital market events | low | — | — |
| 6 Aug 2026 · Tracxn Q1 FY27 call: India growth picking up, sales team to nearly double by year-end | investor communications | medium | — | — |
| 6 Aug 2026 · Newspaper ad of Q1 FY27 unaudited results filed with exchanges | 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.