BSE: 532373
WEP SOLUTIONS LTD.
An IT-enabled services company operating through two reported business streams. Partner Business earned Rs 4.88 crore in Q4 FY26 with an EBIT loss of Rs 0.05 crore, while Enterprise Business earned Rs 12.81 crore in the same quarter with an EBIT of Rs 1.89 crore, making Enterprise Business the profit driver. The combined entity reported Rs 67.91 crore of revenue and Rs 2.06 crore of net profit for FY26 on total assets of Rs 89.53 crore. The cost structure is dominated by employee costs at 17.0% of revenue and depreciation at 17.7%, with materials at only 7.0% and capex at 15.6% of revenue, indicating an asset-heavy operating model. The company is classified under IT Enabled Services, listed on BSE, and is small-cap with outstanding borrowings of Rs 10.83 crore well below the Rs 100 crore Large Corporate threshold. Recent senior appointments include a new COO with prior leadership experience in cloud, IT infrastructure, DevOps and AI-driven automation at firms such as Mphasis, Incedo, Wipro and Microland, suggesting service capabilities in enterprise IT infrastructure and managed services. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Enterprise Business, Partner Business. Small-cap, asset-heavy IT enabled services with depreciation and capex each near 16-18% of revenue.
Exhibit 1: Financial summary, FY19–FY21 (all audited; no estimate years)
| ₹ crore · consolidated | FY19 | FY20 | FY21 |
|---|---|---|---|
| Revenue | 77 | 68 | 64 |
| EBITDA (ex other income) | 8 | 12 | 11 |
| margin % | 10.5 | 18.3 | 16.6 |
| Owners' profit | 0 | 0 | (1) |
| EPS, as reported (₹) | (1.23) | (0.81) | (0.42) |
| ROE % · ROCE % | (7.2) · (4.4) | (5.1) · 1.0 | (2.8) · 0.3 |
| Debt / equity (x) | 0.17 | 0.24 | 0.28 |
| Cash from operations | — | — | 8 |
| Capex | — | — | (5) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q4 FY20 | Q1 FY21 | Q2 FY21 | Q3 FY21 | Q4 FY21 | Q1 FY22 | Q2 FY22 | Q3 FY22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17 | 9 | 14 | 17 | 25 | 22 | 23 | 33 |
| Profit before tax | 0 | (3) | (1) | 1 | 1 | 0 | 1 | 1 |
| Net profit | (1) | (2) | (0) | 0 | 1 | 0 | 1 | 1 |
| EPS (₹) | (0.39) | (0.76) | (0.19) | 0.17 | 0.36 | 0.04 | 0.25 | 0.26 |
Exhibit 3: Segment revenue, FY21
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Printer Business | 27 | 41.1 |
| MPS Business | 35 | 54.3 |
| Digital Business | 3 | 4.5 |
| Total, before eliminations | 64 | 100.0 |
Exhibit 4: 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 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 34.0 | 17.9 | 57 of 76 | 25% |
| P/B | 2.2 | 2.2 | 36 of 70 | 49% |
| ROCE | 2.5 | 9.6 | 67 of 86 | 22% |
| ROE | 2.0 | 9.2 | 53 of 70 | 25% |
| Debt / Equity | 0.1 | 0.0 | 39 of 70 | 45% |
| EBITDA margin | 11.4 | 13.0 | 41 of 69 | 41% |
| Revenue growth | 90.8 | 20.8 | 10 of 67 | 86% |
| Profit growth | 111.6 | 14.6 | 10 of 64 | 86% |
| Market cap | 114 | 325 | 54 of 87 | 38% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Board to approve September 2026 quarter and half-year results | results | low | — | — |
| 8 Oct 2026 · Compliance certificate for dematerialisation of securities - Sept 2026 quarter | compliance | minimal | — | — |
| 22 Sept 2026 · Trading window closed from Oct 1 for Q2 and H1 FY27 results | compliance | minimal | — | — |
| 17 Sept 2026 · AGM results: all 10 resolutions passed; Rs 0.50 dividend declared | board shareholder meetings | low | — | — |
| 16 Sept 2026 · Independent Director ends term at WEP Solutions | management changes | medium | — | — |
| 16 Sept 2026 · 31st AGM proceedings: Rs 0.50 dividend declared, ESOP 2026 approved | board shareholder meetings | low | — | — |
| 22 Aug 2026 · Notice of 31st AGM, e-voting, book closure and dividend | compliance | minimal | — | — |
| 21 Aug 2026 · WeP Solutions Annual Report FY2025-26 with Rs 0.50 dividend | results | high | — | — |
| 21 Aug 2026 · 31st AGM notice on 16 Sep 2026; Rs 0.50 dividend, ESOP 2026, director changes | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Prior intimation of 31st AGM scheduled on 16 September 2026 | 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.