NSE: VLEGOV · BSE: 543958
VL E GOV AND IT SOL LTD
Provides e-Governance and IT solutions, with FY26 revenue of Rs 17.15 crore, down 44% year-on-year, and a net loss of Rs 1.13 crore. The cost mix shows no materials cost, with employee costs at 7.8% of revenue and other operating expenses at 6.6%, consistent with a services-led model. The company has signed an MoU with Ekansh Concepts to act as EPC Partner for the Sankalp Industrial Smart City Project, covering 494 acres with an estimated Phase I EPC contract value of Rs 800 crore, and has a binding term sheet to acquire 40% of HAL-Edgewood Technologies Private Limited, a joint venture with Hindustan Aeronautics Limited in aerospace, defence and satellites. It plans to bid for government projects in land record digitization (ULPIN), EV charging (PM e-Drive) and solar power. The company is debt-free with net worth of Rs 4,456.61 lakhs. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. e-Governance and IT Solutions, Smart City EPC Partnership, Aerospace, Defence and Satellites. Small services-led e-Governance and IT business, currently loss-making at the operating level.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 22 | 31 | 17 |
| EBITDA (ex other income) | (170) | (2,519) | (1) |
| margin % | (774.0) | (8207.2) | (8.6) |
| Owners' profit | (170) | (2,517) | (1) |
| EPS, as reported (₹) | (16.04) | (236.42) | (0.10) |
| ROE % · ROCE % | (6.9) · (6.9) | (5508.1) · (5505.8) | (2.5) · (2.5) |
| Debt / equity (x) | 0.02 | 0.00 | 0.00 |
| Cash from operations | 2 | (60) | 0 |
| Capex | (0) | (2) | (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 | 8 | 15 | 5 | 8 | 3 | 4 | 1 | 1 |
| Profit before tax | 1 | 1 | (2,519) | 1 | (1) | (1) | (1) | (1) |
| Net profit | 1 | 1 | (2,519) | 1 | (1) | (1) | (1) | (1) |
| EPS (₹) | 0.08 | 0.09 | (232.31) | 0.06 | (0.05) | (0.07) | (0.05) | (0.05) |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Sept 2026 · Trading window closure ahead of Q2 FY26 results | compliance | minimal | — | — |
| 25 Sept 2026 · 10th AGM e-voting results filed with 3 resolutions | board shareholder meetings | low | — | — |
| 24 Sept 2026 · 10th AGM held on 24 Sept 2026; 3 resolutions put to e-vote | board shareholder meetings | medium | — | — |
| 5 Sept 2026 · Chairman and Executive Director resigns citing personal reasons | management changes | critical | — | — |
| 5 Sept 2026 · Chairman and Executive Director Dr Nishikant Hayatnagarkar resigns | management changes | critical | — | — |
| 1 Sept 2026 · VLEG files 10th Annual Report for FY2025-26; revenue falls, loss narrows | results | high | — | — |
| 1 Sept 2026 · Book Closure for 10th AGM from Sept 18 to Sept 24, 2026 | corporate actions | low | — | — |
| 1 Sept 2026 · 10th AGM set for September 24, 2026; Vakrangee deals capped at Rs 50 crore | board shareholder meetings | low | — | — |
| 12 Aug 2026 · Monitoring Agency flags undersubscription and 86 percent share price fall | compliance | low | — | — |
| 10 Aug 2026 · Q1 FY26-27 results: revenue drops 45% QoQ, MoU for Rs 800 cr smart city EPC | investor communications | 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.