Sector Alpha Week of 2026-07-24
Sector Alpha — machine-written from the numbers · Data as of 2026-07-24

Kellton Tech Solutions Ltd

KELLTONTEC
IT - Software

Kellton Tech Solutions Ltd is cheap for a reason. The P/E sits at the 34th percentile of its own range, and the quarters are still getting worse.

The sharpest disagreement: annual EPS moved +5.5% against a −47.2% price move — the market has not yet caught up with the delivery.

The price is in a downtrend (40 weeks in) while the P/E sits at the 34th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating — profit −4.3% year on year, and 22% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Mixed
partial read
Price
₹14.8
−47.2% 1Y
P/E
8.2×
34th pctile
of its own 10-year range
Revenue (Jun 26)
₹316 Cr
+7.1% YoY
Profit (Jun 26)
₹22.0 Cr
−4.3% YoY
Operating margin
11.0%
−1.0 pp YoY
ROCE
15%
FY26
ROIC
11.3%
vs WACC 12.0% → −0.7 pp
Cash conversion
22%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Kellton Tech Solutions Ltd trades at ₹14.8, in a downtrend and 40 weeks into that stage. That is −17.1% against its own 200-day average. It sits at 4% of a 52-week range of ₹14 to ₹27. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (13 weeks and counting).

Today the stock is in a downtrend — week 40 of stage 4, confirmed. At ₹14.8 it trades −17.1% versus its 200-day average and sits at 4% of its 52-week range (₹14–₹27).

Jul 26: ₹14.8 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−17.1% versus the 200-day line, week 40 of stage 4
Price50-day avg200-day avg
S2S4S2S4₹34.9₹28.8₹22.8₹16.7₹10.7₹15₹18Jul 23Apr 24Jan 25Oct 25Jul 26
S2S4S2S4₹34.9₹28.8₹22.8₹16.7₹10.7₹15₹18Jul 23Jan 25Jul 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (544 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Jul 26

Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved −35% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (13 weeks and counting; last ahead the week of 2026-05-22) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 34th percentile of its own range.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Kellton Tech Solutions Ltd trades at 8.2× P/E, near the bottom of its own range — cheaper only 34% of the time. Its long-run median P/E is 9.5×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 8.2× is near the bottom of its own range — cheaper only 34% of the time, against a long-run median of 9.5× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 8.2× vs a 9.5× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.4-year window; loss-period spikes above 23× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
near the bottom of its own range — cheaper only 34% of the time
P/EMedianEPS (TTM) (quarterly)
24.8×₹1.918.6×₹1.512.4×₹1.06.2×₹0.50.0×₹0.0×8.20×₹2Mar 16Oct 18Jun 21Jan 24Jul 26
24.8×₹1.918.6×₹1.512.4×₹1.06.2×₹0.50.0×₹0.0×8.20×₹2Mar 16Jun 21Jul 26
P/E
8.2×
34th percentile of 10y

Why the multiple sits where it does: over the past year annual EPS moved +5.5% against a −47.2% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +3.4%/yr price move, ~+3.2%/yr came from earnings growth and ~+0.2 pp from the multiple (roughly flat); over 10y, of the −1.1%/yr price move, ~+6.1%/yr came from earnings growth and ~−7.2 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

03 · Stage: Mixed

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Kellton Tech Solutions Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE holding at 15.0% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.

Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
14%180%12%117%10%55%7.9%−7.7%5.8%−70%%%9.5%−4.3%3%Sep 23Dec 24Jun 26
14%180%12%117%10%55%7.9%−7.7%5.8%−70%%%9.5%−4.3%3%Sep 23Dec 24Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
17.2%16.4%15.5%14.6%13.8%%15%FY23FY24FY26
17.2%16.4%15.5%14.6%13.8%%15%FY23FY24FY26
Revenue growth
Steady high
latest +9.5% · span +6.4% to +13.6%
Profit growth
Falling
latest −4.3% · span −52.9% to +52.9%
ROCE
Steady high
latest 15.0% · span 14.0%–17.0%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Growth, year by year: revenue +10.8% in FY26, profit +15.0% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
77%99%55%0.0%33%−105%11%−207%−11%−310%%%10.8%15%FY16FY21FY26
77%99%55%0.0%33%−105%11%−207%−11%−310%%%10.8%15%FY16FY21FY26
TTM growth by quarter Trailing-twelve-month growth versus the year-ago TTM, per quarter, %: revenue (left axis); profit and EPS (right axis). The acceleration read compares the last 4 quarters (+9.5%) with the last 8 annualized (+11.5%).
revenue stabilising, profit rolling over
Revenue TTM YoYProfit TTM YoYEPS TTM YoY
14%27%12%20%10%14%7.9%7.6%5.8%1.2%%%9.5%9.6%Sep 23Dec 24Jun 26
14%27%12%20%10%14%7.9%7.6%5.8%1.2%%%9.5%9.6%Sep 23Dec 24Jun 26
Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+10.8%+9.9%+9.4%+13.0%
Profit+15.0%+5.3%+11.5%
EPS+5.5%+3.1%+10.1%
Share price−47.2%−4.9%+3.4%−1.1%
Revenue YoY (Jun 26)
+7.1%
latest quarter vs a year ago
Profit YoY (Jun 26)
−4.3%
latest quarter vs a year ago
Revenue 10y
13.0%
long-run compound pace

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

04 · 4-Factor Sector Score

4-Factor Sector Score

36.4/100 — rank 49 of 63 in IT - Software · 81% evidence confidence

Kellton Tech Solutions Ltd scores 36.4 out of 100 against the 63 companies it is compared with in IT - Software, ranking 49. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 10.3 + 9.5 + 11.5 + 5.1 = 36.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Kellton Tech Solutions Ltd reported ₹316 Cr of revenue in the Jun 26 quarter, +7.1% year on year. That is the 11th straight quarter of year-on-year growth. Over 10 years it has compounded at 13.0% a year. The last full year, FY26, came in at ₹1,217 Cr. The last four reported quarters add to ₹1,238 Cr.

Kellton Tech Solutions Ltd reported ₹316 Cr of revenue in the Jun 26 quarter, +7.1% year on year. That is the 11th straight quarter of year-on-year growth. Over 10 years it has compounded at 13.0% a year. The last full year, FY26, came in at ₹1,217 Cr. The last four reported quarters add to ₹1,238 Cr.

FY26 revenue came in at ₹1,217 Cr (+10.8% on the year), capping 10 years at 13.0% compound. The latest quarter (Jun 26) printed ₹316 Cr, +7.1% year on year — the 11th consecutive quarter of year-over-year growth.

FY26 revenue ₹1,217 Cr (+10.8% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
13.0% a year over 10 years
RevenueYoY growth
1.3k77%98655%65733%32911%0−11%₹ Cr%₹1,21710.8%FY16FY21FY26
1.3k77%98655%65733%32911%0−11%₹ Cr%₹1,21710.8%FY16FY21FY26
Jun 26: ₹316 Cr (+7.1% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
11th straight quarter of growth
Revenue (quarterly)YoY growth
34116%25613%1718.7%854.9%01.0%₹ Cr%₹3167.1%Sep 23Dec 24Jun 26
34116%25613%1718.7%854.9%01.0%₹ Cr%₹3167.1%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged +9.5% growth against the decade's 13.0% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +9.5% over the last 4 quarters against +11.5%/yr over the last 8 — stabilising; TTM profit +9.6% vs +14.8%/yr — rolling over.

→ Revenue grew — did margins hold as it scaled? Next: 11.0% this quarter (−1.0 pp YoY).

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Kellton Tech Solutions Ltd's operating margin is 11.0% in the Jun 26 quarter, −1.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 10.0% to 15.0%. The current quarter sits inside that band.

Kellton Tech Solutions Ltd's operating margin is 11.0% in the Jun 26 quarter, −1.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 10.0% to 15.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 11.0%, −1.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 10.0%–15.0%.

🚨 Why the margin moved: operating margin went −1.0 pp year on year while gross margin went +0.3 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

FY26: 11.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a 10.0–15.0% band over 13 years
operating marginYoY change (pp)
15%4.5%14%2.7%13%1.0%11%−0.7%9.6%−2.5%%%11%−1%Jun 14FY20FY26
15%4.5%14%2.7%13%1.0%11%−0.7%9.6%−2.5%%%11%−1%Jun 14FY20FY26
Jun 26: 11.0% operating margin (−1.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
13%6.7%12%4.1%11%1.5%9.1%−1.1%7.6%−3.7%%%11%−1%Sep 23Dec 24Jun 26
13%6.7%12%4.1%11%1.5%9.1%−1.1%7.6%−3.7%%%11%−1%Sep 23Dec 24Jun 26

→ Margins slipped — did that reach the bottom line? Next: profit −4.3% in the latest quarter.

07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Kellton Tech Solutions Ltd earned ₹22.0 Cr of net profit in the Jun 26 quarter, −4.3% year on year. Full-year FY26 profit was ₹92.0 Cr. The 10-year compound rate is 11.5%. That is 7.0% of the quarter's revenue. The same quarter a year earlier earned ₹23.0 Cr.

Kellton Tech Solutions Ltd earned ₹22.0 Cr of net profit in the Jun 26 quarter, −4.3% year on year. Full-year FY26 profit was ₹92.0 Cr. The 10-year compound rate is 11.5%. That is 7.0% of the quarter's revenue. The same quarter a year earlier earned ₹23.0 Cr.

Jun 26 profit was ₹22.0 Cr, −4.3% year on year. On the full year, FY26 printed ₹92.0 Cr (+15.0%), and the 10-year compound rate is 11.5%.

FY26 profit ₹92.0 Cr (+15.0% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
11.5% a year over 10 years
Net profitYoY growth
11099%460.0%−18−105%−81−207%−145−310%₹ Cr%₹9215%FY16FY21FY26
11099%460.0%−18−105%−81−207%−145−310%₹ Cr%₹9215%FY16FY21FY26
Jun 26: ₹22.0 Cr (−4.3% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
27180%20117%1455%7−7.7%0−70%₹ Cr%₹22−4.3%Sep 23Dec 24Jun 26
27180%20117%1455%7−7.7%0−70%₹ Cr%₹22−4.3%Sep 23Dec 24Jun 26

🚨 Why profit moved: revenue contributed +7.1% and the margin −1.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +10.0% vs revenue +9.5%. Profit and revenue are moving roughly in step.

→ Profit rose — but did the cash follow? Next: 22% of the last 3 years' profit arrived as cash.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 22% of Kellton Tech Solutions Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−10.0 Cr of operating cash against ₹92.0 Cr of profit. After ₹201 Cr of capital spending, ₹−211 Cr was left as free cash.

FY26: operating cash of ₹−10.0 Cr against reported profit of ₹92.0 Cr, leaving free cash of ₹−211 Cr after ₹201 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 22% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹−10.0 Cr vs profit ₹92.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
22% of 3-year profit arrived as cash
Operating cashNet profitFree cash
17370−33−136−239₹ Cr₹−10₹92₹−211FY16FY21FY26
17370−33−136−239₹ Cr₹−10₹92₹−211FY16FY21FY26
FY26: CFO = −11% of profit (three-year rate 22%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
121%85%50%15%−21%%−11%FY16FY21FY26
121%85%50%15%−21%%−11%FY16FY21FY26

🚨 Why conversion sits at 22%: the cash cycle stretched 21 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: conversion is below par and the cash cycle has stretched 21 days — the next section's job is to find where the cash is stuck.

→ So follow the cash to where it goes. Next: the 118-day cycle, in money terms.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Kellton Tech Solutions Ltd's cash conversion cycle runs 118 days in FY26, up from 97 days in FY21. Capital spending ran ₹265 Cr over the last 3 years. At FY26 sales of ₹1,217 Cr each day of that cycle holds about ₹3.3 Cr, so roughly ₹393 Cr sits inside the business at any moment.

FY26: debtors at 118 days (an asset-light business — no inventory to speak of) — for a full cycle of 118 days, looser than FY21's 97.

In money terms: at FY26 sales of ₹1,217 Cr, each day of the cycle holds about ₹3.3 Cr — so the 118-day loop keeps roughly ₹393 Cr sitting inside the business at any moment.

FY26: a 118-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
+21 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
37521555−105−265days118d30d118d331dJun 14FY17FY20FY23FY26
37521555−105−265days118d30d118d331dJun 14FY20FY26

On the investment side: capital spending of ₹265 Cr over the last 3 fiscal years against ₹48.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹165 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹201 Cr, work-in-progress ₹165 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
22713340−53−147₹ Cr₹201₹165Jun 15FY18FY21FY23FY26
22713340−53−147₹ Cr₹201₹165Jun 15FY21FY26

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 15% and the ROIC − WACC spread is −0.7 pp.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Kellton Tech Solutions Ltd earns a ROCE of 15% in FY26. That is up from a trough of 14% in FY23. Return on invested capital clears the cost of that capital by −0.7 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 7.6% net margin on 1.08× asset turns.

FY26 ROCE is 15%, recovered from a FY23 trough of 14% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 7.6% net margin × 1.08× asset turns × 1.40× balance-sheet leverage ≈ 11.5% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 11.3% − 12.0% = a −0.7 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 15% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY23's 14%
ROCEROIC (annual)WACC
36%29%23%17%10%%15%12.1%Jun 14FY20FY26
36%29%23%17%10%%15%12.1%Jun 14FY20FY26
Q4 FY26: ROCE 13.8% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
19%17%15%13%11%%13.8%13.2%Q2 FY24Q3 FY25Q1 FY27
19%17%15%13%11%%13.8%13.2%Q2 FY24Q3 FY25Q1 FY27

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.24.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Kellton Tech Solutions Ltd carries total debt of ₹231 Cr against shareholder equity of ₹807 Cr as of Jun 26, a debt-to-equity of 0.29 — effectively unlevered. On the annual view that ratio went from 0.25 in FY22 to 0.29 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Jun 26: total debt of ₹231 Cr against shareholder equity of ₹807 Cr — a debt-to-equity of 0.29. On the annual view, debt-to-equity went from 0.25 (FY22) to 0.29 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹231 Cr at 0.29× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
2490.44×1870.39×1250.34×620.29×00.24×₹ Cr×₹2310.29×FY22FY24FY26
2490.44×1870.39×1250.34×620.29×00.24×₹ Cr×₹2310.29×FY22FY24FY26
Jun 26: debt ₹231 Cr, debt-to-equity 0.29 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
2490.43×1870.37×1250.32×620.26×00.20×₹ Cr×₹2310.29×Sep 23Dec 24Jun 26
2490.43×1870.37×1250.32×620.26×00.20×₹ Cr×₹2310.29×Sep 23Dec 24Jun 26

→ Who owns this, and are they adding or leaving? Next: Promoters cut 14.3 points over 8 quarters.

12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 14.3 points of Kellton Tech Solutions Ltd over 8 quarters, the biggest move on the register. That takes promoters to 37.7% of the company. Foreign institutions moved +0.3 points over the same window, to 1.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −14.3 points over 8 quarters to 37.7%; Foreign institutions: +0.3 points over 8 quarters to 1.0%.

🚨 Why the register moved: promoters drove it (−14.3 points) — distribution into the market’s bid.

Fiscal-year ends: promoters −14.5 pts from Mar 23 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 4 year-ends held.
PromotersForeign inst.Public
66%48%31%13%−4.9%%37.7%1.0%61.3%Mar 23Mar 24Mar 26
66%48%31%13%−4.9%%37.7%1.0%61.3%Mar 23Mar 24Mar 26
Promoters cut 14.3 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Public
66%48%31%13%−4.9%%37.7%1.0%61.3%Mar 23Sep 24Mar 26
66%48%31%13%−4.9%%37.7%1.0%61.3%Mar 23Sep 24Mar 26

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Kellton Tech Solutions Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Related companies · same sector · IT - Software Every company is compared on the shape of its own curves, not static ratios. The Revenue, EPS and ROCE columns each draw that company's last 12 quarters as a mini line of the ACTUAL level (trailing-twelve-month revenue and EPS, and the ROCE itself) — so a line that climbs is a business getting bigger, a line that sinks is one shrinking. The colour tracks the same line: green when it is rising or steadily healthy, amber when it is rolling over from a high (still elevated but turning down), red when it is falling, grey when flat or stuck. Colour and direction always agree — a green line never points down. The ROCE curve is the return on capital (annual readings for peers, so a slightly coarser line than the quarterly one at the top of this page). The Stage column then runs the same 12-quarter trajectory classifier used at the top of the page on each company and names where it sits. What lands a company in each bucket: CONSISTENT — growth stays positive across the window and returns are healthy (ROCE ≥ 15%, or ROE ≥ 12% for lenders); IMPROVING — profit or EPS fell into real decline, bottomed a few quarters back, and has climbed back to positive and held there; TURNING AROUND — the same kind of trough but more recent, with the latest quarters just lifting off it (an early, unconfirmed turn); TOPPING OUT — growth is still positive but decelerating hard from its own peak while returns have stopped rising; DETERIORATING — two or more growth curves are shrinking (latest below zero) and staying there, not one soft quarter; MIXED — the curves genuinely disagree, or no clean majority, so no single word fits; NO READ — fewer than eight usable quarters. It is a like-for-like read of every company against its own past, not a ranking against the group.
CompanyP/EMkt capRevenueEPSROCEStage
Kellton Tech Solutions Ltd this page8.2×₹749 CrMixed
Tata Consultancy Services Ltd15.2×₹8.2L CrConsistent
Infosys Ltd13.6×₹4.2L CrConsistent
HCL Technologies Ltd19.0×₹3.4L CrMixed
Wipro Ltd13.3×₹1.8L CrTopping out
Tech Mahindra Ltd28.7×₹1.5L CrTopping out
LTM Ltd21.6×₹1.2L CrConsistent
Coforge Ltd40.0×₹65,726 CrMixed
Mphasis Ltd22.6×₹43,674 CrConsistent
Hexaware Technologies Ltd23.0×₹33,719 CrNo read
IDream Film Infrastructure Company Ltd₹17,180 CrNo read
Zensar Technologies Ltd15.1×₹11,511 CrTurning around
Sonata Software Ltd15.8×₹8,079 CrMixed
Tanla Platforms Ltd14.9×₹7,954 CrTurning around
Birlasoft Ltd14.8×₹7,896 CrTurning around
Seshaasai Technologies Ltd23.6×₹6,221 CrNo read
ASM Technologies Ltd103.0×₹6,206 CrNo read
AvenuesAI Ltd20.2×₹5,700 CrMixed
Mastek Ltd12.0×₹5,242 CrConsistent
Datamatics Global Services Ltd20.3×₹4,856 CrTopping out
Aurionpro Solutions Ltd21.0×₹4,562 CrMixed
Moschip Technologies Ltd141.0×₹4,508 CrMixed
Capillary Technologies India Ltd128.0×₹3,790 Cr
TechNVision Ventures Ltd984.0×₹3,563 CrNo read
Cigniti Technologies Ltd11.4×₹3,472 CrMixed
63 Moons Technologies Ltd₹3,264 CrNo read
ASM Technologies Ltd52.8×₹3,220 CrNo read
TechNVision Ventures Ltd14,485.0×₹3,187 CrNo read
R Systems International Ltd12.6×₹2,909 CrTurning around
Sasken Technologies Ltd48.1×₹2,765 CrImproving
BLS E-Services Ltd44.6×₹2,565 CrMixed
Silver Touch Technologies Ltd71.0×₹2,538 CrTurning around
Saksoft Ltd16.3×₹2,231 CrMixed
Blue Cloud Softech Solutions Ltd31.2×₹1,889 CrMixed
Hypersoft Technologies Ltd440.0×₹1,798 CrNo read
Kody Technolab Ltd104.0×₹1,748 Cr
IZMO Ltd34.8×₹1,653 CrImproving
NINtec Systems Ltd50.3×₹1,610 CrMixed
Dynacons Systems & Solutions Ltd18.6×₹1,580 CrMixed
Magellanic Cloud Ltd13.6×₹1,568 CrMixed
12 · Frequently asked questions

Frequently asked questions

What is Kellton Tech Solutions Ltd's share price today?

Kellton Tech Solutions Ltd trades at ₹14.8, −47.2% over the past year. The company is valued at ₹749 Cr. The stock sits at 4% of its 52-week range of ₹14–₹27, −17.1% versus its 200-day average. On the tape, the price is in a downtrend, 40 weeks in. — as of 24 July 2026.

What were Kellton Tech Solutions Ltd's latest quarterly results?

Kellton Tech Solutions Ltd reported revenue of ₹316 Cr and net profit of ₹22.0 Cr for the Jun 26 quarter. Revenue rose 7.1% and profit fell 4.3% year on year. Earnings per share were ₹0.42. The operating margin was 11.0%, 1.0 pp lower than a year earlier. — as of 24 July 2026.

What is Kellton Tech Solutions Ltd's revenue?

Kellton Tech Solutions Ltd reported revenue of ₹316 Cr in the Jun 26 quarter, +7.1% year on year. For the full FY26 fiscal year, revenue was ₹1,217 Cr (+10.8%). Over the last 10 years revenue compounded at 13.0% a year. — as of 24 July 2026.

What is Kellton Tech Solutions Ltd's profit?

Kellton Tech Solutions Ltd earned ₹22.0 Cr of net profit in the Jun 26 quarter, −4.3% year on year. Full-year FY26 profit was ₹92.0 Cr. The operating margin ran 11.0% in the latest quarter. — as of 24 July 2026.

What is Kellton Tech Solutions Ltd's market cap?

Kellton Tech Solutions Ltd's market capitalisation is ₹749 Cr at a share price of ₹14.8. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.

What is Kellton Tech Solutions Ltd's P/E ratio?

Kellton Tech Solutions Ltd trades at a P/E of 8.2×, at the 34th percentile of its own 10-year range, against a long-run median of 9.5×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Does Kellton Tech Solutions Ltd pay a dividend?

Not in its latest year — Kellton Tech Solutions Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 1 of its last 13 reported fiscal years, so there is a history but no current dividend. — as of 24 July 2026.

Is Kellton Tech Solutions Ltd overvalued?

On its own history, Kellton Tech Solutions Ltd looks cheap against its own history: its P/E of 8.2× has been cheaper only 34% of the time in 10 years (long-run median 9.5×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.

Is Kellton Tech Solutions Ltd growing?

Not right now — Kellton Tech Solutions Ltd's latest numbers are shrinking: latest-quarter revenue +7.1% year on year, profit −4.3%, and the margin −1.0 pp at 11.0%. The 10-year compound rates are 13.0% (revenue) and 11.5% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.

How is Kellton Tech Solutions Ltd performing?

Kellton Tech Solutions Ltd is in a downtrend, 40 weeks in. Its latest quarter's revenue rose 7.1% and profit fell 4.3% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 13 weeks. This describes what the data did, not a rating. — as of 24 July 2026.

What stage is Kellton Tech Solutions Ltd in?

Mixed — no clean majority across the growth curves, ROCE holding at 15.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +9.5% latest, profit growth −4.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.

Is Kellton Tech Solutions Ltd in an uptrend?

No — the price is in a downtrend (week 40 of stage 4), trading −17.1% versus its 200-day average and at 4% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.

Is Kellton Tech Solutions Ltd beating the market?

Not lately — on a trailing-13-week view Kellton Tech Solutions Ltd is currently behind the NIFTY 500 (13 weeks and counting; last ahead the week of 2026-05-22), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved −35% against the NIFTY 500's +274% — behind the index over the full window. — as of 24 July 2026.

Will Kellton Tech Solutions Ltd's share price go up?

This page publishes no price forecast for Kellton Tech Solutions Ltd. What it measures instead: the share price is ₹14.8, the price is in a downtrend 40 weeks in. Its P/E of 8.2× sits at the 34th percentile of its own 10-year range. — as of 24 July 2026.

Who owns Kellton Tech Solutions Ltd?

Promoters hold 37.7% of Kellton Tech Solutions Ltd, foreign institutions 1.0%, domestic institutions null% and the public 61.3% (latest quarter). The biggest move on the register over the last two years: Promoters cut 14.3 points over 8 quarters. — as of 24 July 2026.

Does Kellton Tech Solutions Ltd have too much debt?

No — Kellton Tech Solutions Ltd's debt-to-equity is 0.24, and operating profit covers the interest bill 6×. FY26 borrowings were ₹191 Cr against equity of ₹807 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.

What is Kellton Tech Solutions Ltd's capex?

Kellton Tech Solutions Ltd spent ₹265 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹201 Cr, with ₹165 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.

What is Kellton Tech Solutions Ltd's cash flow?

Kellton Tech Solutions Ltd generated ₹−10.0 Cr of operating cash flow in FY26 and ₹−211 Cr of free cash flow after ₹201 Cr of capital spending. Reported profit that year was ₹92.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is Kellton Tech Solutions Ltd's profit real cash?

Not fully — over the last 3 fiscal years, 22% of Kellton Tech Solutions Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−10.0 Cr against reported profit of ₹92.0 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 24 July 2026.

Where is Kellton Tech Solutions Ltd in its business cycle?

Kellton Tech Solutions Ltd's FY26 operating margin was 11.0%, against a 13-year band of 10.0%–15.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 11.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.

What could break the Kellton Tech Solutions Ltd story?

The sharpest disagreement: annual EPS moved +5.5% against a −47.2% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.

Is Kellton Tech Solutions Ltd a stock worth studying right now?

This is not investment advice. The machine read: Kellton Tech Solutions Ltd is cheap for a reason. The P/E sits at the 34th percentile of its own range, and the quarters are still getting worse. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.

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