Sector Alpha Week of 2026-09-11
Not SEBI Registered !! Not Investment advice !!
Sector Alpha — machine-written from the numbers · Data as of 2026-09-11

Quick Heal Technologies Ltd

QUICKHEAL
IT - Software

Quick Heal Technologies Ltd's price has outrun its earnings. −55.1% in a year against EPS −316.1% — the market is paying now for delivery later.

The sharpest disagreement: the price moved −55.1% in a year while annual EPS moved −316.1% — the difference is re-rating, and re-rating has to be repaid with earnings.

The price is in a downtrend (83 weeks in) while the P/E sits at the 100th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating, and 77% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.

Price
₹148
−55.1% 1Y
P/E
196.7×
100th pctile
of its own 10-year range
Revenue (Jun 26)
₹45.0 Cr
−21.4% YoY
Profit (Jun 26)
₹−5.3 Cr
Operating margin
−39.0%
−22.0 pp YoY
ROCE
−6%
FY26
ROIC
−18.0%
vs WACC 12.0% → −30.0 pp
Cash conversion
77%
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.

Quick Heal Technologies Ltd trades at ₹148, in a downtrend and 83 weeks into that stage. That is −24.8% against its own 200-day average. It sits at 8% of a 52-week range of ₹133 to ₹318. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (12 weeks and counting).

Today the stock is in a downtrend — week 83 of stage 4, confirmed. At ₹148 it trades −24.8% versus its 200-day average and sits at 8% of its 52-week range (₹133–₹318).

Sep 26: ₹148 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.
−24.8% versus the 200-day line, week 83 of stage 4
Price50-day avg200-day avg
S2S4₹866₹669₹472₹275₹78.2₹148₹196Sep 23Jun 24Mar 25Jan 26Sep 26
S2S4₹866₹669₹472₹275₹78.2₹148₹196Sep 23Mar 25Sep 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (557 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
Feb 16Sep 26

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved −25% while the NIFTY 500 moved +273% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (12 weeks and counting; last ahead the week of 2026-06-25) — 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.

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.

Quick Heal Technologies Ltd trades at 196.7× P/E, about the priciest it has ever traded. Its long-run median P/E is 21.1×, measured across 10.2 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 196.7× is about the priciest it has ever traded, against a long-run median of 21.1× measured over 10.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 196.7× vs a 21.1× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.2-year window; loss-period spikes above 63× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
about the priciest it has ever traded
P/EMedianEPS (TTM) (quarterly)
68.0×₹18.051.1×₹13.534.1×₹9.017.2×₹4.50.0×₹0.0×63.30×₹1Feb 16Apr 18Jul 20Sep 22May 26
68.0×₹18.051.1×₹13.534.1×₹9.017.2×₹4.50.0×₹0.0×63.30×₹1Feb 16Jul 20May 26
P/E
196.7×
100th percentile of 10y

🚨 Why the multiple sits where it does: over the past year annual EPS moved −316.1% against a −55.1% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the −8.1%/yr price move, ~−38.1%/yr came from earnings growth and ~+30.0 pp from the multiple (expanding); over 10y, of the −4.3%/yr price move, ~−18.9%/yr came from earnings growth and ~+14.6 pp from the multiple (expanding). 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 full 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.

03 · Stage: No read

Stage: No read 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).

Quick Heal Technologies Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 8 quarters across 2 curves, on partial evidence.

Growth, year by year: revenue −6.8% in FY26, profit −320.0% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
19%348%9.0%174%−1.1%0.0%−11%−174%−22%−348%%%−6.8%−300%FY16FY21FY26
19%348%9.0%174%−1.1%0.0%−11%−174%−22%−348%%%−6.8%−300%FY16FY21FY26
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. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue accelerating
RevenueProfitEPS
28%348%16%174%5.2%0.0%−6.1%−174%−17%−348%%%−6.6%−300%−300%Sep 23Dec 24Jun 26
28%348%16%174%5.2%0.0%−6.1%−174%−17%−348%%%−6.6%−300%−300%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
7.0%3.5%0.0%−3.5%−7.0%%−6%FY23FY24FY26
7.0%3.5%0.0%−3.5%−7.0%%−6%FY23FY24FY26
Revenue growth
Stuck low
latest −6.6% · span −14.2% to +24.5%
ROCE
Falling
latest −6.0% · span −6.0%–6.0%

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

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.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

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−6.8%−2.1%−4.8%−1.4%
Share price−55.1%−12.2%−8.1%−4.3%
Revenue YoY (Jun 26)
−21.4%
latest quarter vs a year ago
Revenue 10y
−1.4%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

20.4/100 — rank 55 of 64 in IT - Software · 69% evidence confidence

Quick Heal Technologies Ltd scores 20.4 out of 100 against the 64 companies it is compared with in IT - Software, ranking 55. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 6.2 + 1.8 + 10 + 2.4 = 20.4. 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.

Quick Heal Technologies Ltd reported ₹45.0 Cr of revenue in the Jun 26 quarter, −21.4% year on year. Over 10 years it has compounded at −1.4% a year. The last full year, FY26, came in at ₹261 Cr. The last four reported quarters add to ₹249 Cr.

FY26 revenue came in at ₹261 Cr (−6.8% on the year), capping 10 years at −1.4% compound. The latest quarter (Jun 26) printed ₹45.0 Cr, −21.4% year on year.

FY26 revenue ₹261 Cr (−6.8% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
−1.4% a year over 10 years
RevenueYoY growth
36919%2779.0%185−1.1%92−11%0−22%₹ Cr%₹261−6.8%FY16FY21FY26
36919%2779.0%185−1.1%92−11%0−22%₹ Cr%₹261−6.8%FY16FY21FY26
Jun 26: ₹45.0 Cr (−21.4% 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.
Revenue (quarterly)YoY growth
9070%6845%4519%23−6.6%0−32%₹ Cr%₹45−21.4%Sep 23Dec 24Jun 26
9070%6845%4519%23−6.6%0−32%₹ Cr%₹45−21.4%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged −7.9% growth against the decade's −1.4% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −6.6% over the last 4 quarters against −10.5%/yr over the last 8 — accelerating.

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.

Quick Heal Technologies Ltd's operating margin is −39.0% in the Jun 26 quarter, −22.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −11.0% to 42.0%. The current quarter is running below every full year in that window.

The latest quarter's operating margin is −39.0%, −22.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −11.0%–42.0%.

🚨 Why the margin moved: operating margin went −22.0 pp year on year while gross margin went +0.0 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 −11.0–42.0% band over 13 years
operating marginYoY change (pp)
46%13%31%1.5%16%−10%0.0%−22%−15%−34%%%−11%−8.6%FY14FY20FY26
46%13%31%1.5%16%−10%0.0%−22%−15%−34%%%−11%−8.6%FY14FY20FY26
Jun 26: −39.0% operating margin (−22.0 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)
20%53%−1.4%26%−23%0.0%−45%−28%−66%−55%%%−39.0%−22%Sep 23Dec 24Jun 26
20%53%−1.4%26%−23%0.0%−45%−28%−66%−55%%%−39.0%−22%Sep 23Dec 24Jun 26
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.

Quick Heal Technologies Ltd posted a net loss of ₹5.3 Cr in the Jun 26 quarter. The full FY26 year was a loss of ₹11.0 Cr. That loss is 11.7% of the quarter's revenue. The same quarter a year earlier lost ₹5.5 Cr. 4 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹−5.3 Cr, null year on year. On the full year, FY26 printed ₹−11.0 Cr (−320.0%).

FY26 profit ₹−11.0 Cr (−320.0% 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.
Net profitYoY growth
116350%82170%48−10%14−190%−20−370%₹ Cr%₹−11−320%FY16FY21FY26
116350%82170%48−10%14−190%−20−370%₹ Cr%₹−11−320%FY16FY21FY26
Jun 26: ₹−5.3 Cr (null 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
176,401%74,618%−32,836%−131,054%−23−728%₹ Cr%₹−55,909.1%Sep 23Dec 24Jun 26
176,401%74,618%−32,836%−131,054%−23−728%₹ Cr%₹−55,909.1%Sep 23Dec 24Jun 26
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 77% of Quick Heal Technologies Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹15.0 Cr of operating cash against ₹−11.0 Cr of profit. After ₹17.0 Cr of capital spending, ₹−2.0 Cr was left as free cash.

FY26: operating cash of ₹15.0 Cr against reported profit of ₹−11.0 Cr, leaving free cash of ₹−2.0 Cr after ₹17.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 77% of profit.

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

FY26: CFO ₹15.0 Cr vs profit ₹−11.0 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.
77% of 3-year profit arrived as cash
Operating cashNet profitFree cash
1187737−4−45₹ Cr₹15₹−11₹−2FY16FY21FY26
1187737−4−45₹ Cr₹15₹−11₹−2FY16FY21FY26
FY26: CFO = −440% of profit (three-year rate 77%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
359%145%−70%−285%−499%%−440%FY16FY21FY26
359%145%−70%−285%−499%%−440%FY16FY21FY26

Why conversion sits at 77%: the cash cycle stretched 27 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: conversion is below par and the cash cycle has stretched 27 days — the next section's job is to find where the cash is stuck.

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).

Quick Heal Technologies Ltd's cash conversion cycle runs 192 days in FY26, up from 165 days in FY21. Capital spending ran ₹38.0 Cr over the last 3 years. At FY26 sales of ₹261 Cr each day of that cycle holds about ₹0.7 Cr, so roughly ₹137 Cr sits inside the business at any moment.

FY26: debtors at 192 days (an asset-light business — no inventory to speak of) — for a full cycle of 192 days, looser than FY21's 165.

In money terms: at FY26 sales of ₹261 Cr, each day of the cycle holds about ₹0.7 Cr — so the 192-day loop keeps roughly ₹137 Cr sitting inside the business at any moment.

FY26: a 192-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
+27 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
1,259694128−438−1,003days192d144d192d1,103dFY14FY17FY20FY23FY26
1,259694128−438−1,003days192d144d192d1,103dFY14FY20FY26

On the investment side: capital spending of ₹38.0 Cr over the last 3 fiscal years against ₹40.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹17.0 Cr, work-in-progress ₹0.0 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.
steady investment
CapexWork-in-progress
594530150₹ Cr₹17₹0FY16FY18FY21FY23FY26
594530150₹ Cr₹17₹0FY16FY21FY26

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

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

Quick Heal Technologies Ltd earns a ROCE of −6% in FY26. Return on invested capital clears the cost of that capital by −30.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is −4.2% net margin on 0.48× asset turns.

FY26 ROCE is −6%.

🚨 Why the return is what it is — the wiring (FY26): −4.2% net margin × 0.48× asset turns × 1.25× balance-sheet leverage ≈ −2.5% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: −18.0% − 12.0% = a −30.0 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 −6% 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 full ladder
ROCEROIC (annual)WACC
31%17%4.3%−8.9%−22%%−6%−18.5%FY14FY20FY26
31%17%4.3%−8.9%−22%%−6%−18.5%FY14FY20FY26
Q4 FY26: ROCE −9.9% (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
14%6.2%−1.9%−10.0%−18%%−9.9%−7.2%Q1 FY24Q2 FY25Q4 FY26
14%6.2%−1.9%−10.0%−18%%−9.9%−7.2%Q1 FY24Q2 FY25Q4 FY26
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Quick Heal Technologies Ltd carries ₹0.0 Cr of borrowings against ₹436 Cr of equity in FY26, a debt-to-equity of 0.00. Over 5 years borrowings went from ₹0.0 Cr to ₹0.0 Cr. Capital spending ran ₹38.0 Cr across the last 3 of those years.

FY26: borrowings of ₹0.0 Cr against equity of ₹436 Cr — a debt-to-equity of 0.00. Over 5 years borrowings went from ₹0.0 Cr to ₹0.0 Cr while capital spending ran ₹38.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

FY26: borrowings ₹0.0 Cr at 0.00× equity Borrowings by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 13-year window. Quarterly balance-sheet history is not held for India — annual is the honest resolution.
debt is falling while the business grows
BorrowingsDebt-to-equity
1.21.2×0.60.6×0.00.0×−0.6−0.6×−1.2−1.2×₹ Cr×₹00.00×FY14FY17FY20FY23FY26
1.21.2×0.60.6×0.00.0×−0.6−0.6×−1.2−1.2×₹ Cr×₹00.00×FY14FY20FY26
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.

Domestic institutions cut 2.4 points of Quick Heal Technologies Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 0.0% of the company. Foreign institutions moved −1.1 points over the same window, to 0.5%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −2.4 points over 8 quarters to 0.0%; Foreign institutions: −1.1 points over 8 quarters to 0.5%; Promoters: −1.0 points over 8 quarters to 71.5%.

🚨 Why the register moved: domestic institutions drove it (−2.4 points), alongside foreign institutions (−1.1 points) — distribution into the market’s bid.

Fiscal-year ends: promoters −1.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
78%57%37%16%−5.0%%71.5%0.7%1.2%26.6%Mar 24Mar 25Mar 26
78%57%37%16%−5.0%%71.5%0.7%1.2%26.6%Mar 24Mar 25Mar 26
Domestic institutions cut 2.4 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
79%58%37%15%−5.8%%71.5%0.5%0%28.1%Jun 23Dec 24Jun 26
79%58%37%15%−5.8%%71.5%0.5%0%28.1%Jun 23Dec 24Jun 26
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.

Quick Heal Technologies 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.

14 · Related companies · IT - Software
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Coforge LtdCOFORGE 76.3/100Favorable setup100% evidence LEADER 30.0/35 Revenue 35.7% · PAT 66.5% · OPM change 3 pp 100% evidence 15.6/25 ROCE 23.5% · OPM 19% 100% evidence 12.3/20 P/E 42.7× · PEG 0.57 100% evidence 18.4/20 RS sector 13.3% · RS bench 20.1% · 1Y 11.3%12 of 12 weeks ahead 100% evidence
Exact sum: 30 + 15.6 + 12.3 + 18.4 = 76.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Silver Touch Technologies LtdSILVERTUC 70.0/100Favorable setup93% evidence FADING 30.2/35 Revenue 21.1% · PAT 86.4% · OPM change 8 pp 100% evidence 17.4/25 ROCE 29.8% · OPM 22% 100% evidence 10.3/20 P/E 46.4× · PEG 1.11 65% evidence 12.1/20 RS sector 6.1% · RS bench 14.1% · 1Y 120.3%9 of 12 weeks ahead 100% evidence
Exact sum: 30.2 + 17.4 + 10.3 + 12.1 = 70 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
3Sahana Systems LtdSAHANA 68.7/100Favorable setup70% evidence TURNING 21.5/35 Revenue 100% · PAT 100% · OPM change -3 pp 48% evidence 19.9/25 ROCE 39.8% · OPM 29% 95% evidence 13.4/20 P/E 14.1× · PEG — 50% evidence 13.9/20 RS sector -5.2% · RS bench 15.9% · 1Y -24.3%3 of 12 weeks ahead 100% evidence
Exact sum: 21.5 + 19.9 + 13.4 + 13.9 = 68.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4ASM Technologies Ltd526433 68.2/100Favorable setup69% evidence BREAKING OUT 27.9/35 Revenue 67.8% · PAT 89.5% · OPM change 2 pp 95% evidence 16.1/25 ROCE 27% · OPM 23% 76% evidence 8.6/20 P/E 138× · PEG — 15% evidence 15.6/20 RS sector 5.7% · RS bench 97.1% · 1Y 94%10 of 10 weeks ahead 70% evidence
Exact sum: 27.9 + 16.1 + 8.6 + 15.6 = 68.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5NINtec Systems LtdNINSYS 65.0/100Favorable setup80% evidence FADING 20.0/35 Revenue 21.6% · PAT 18.8% · OPM change 4.2 pp 95% evidence 21.9/25 ROCE 54% · OPM 25.9% 95% evidence 9.3/20 P/E 39.3× · PEG — 15% evidence 13.8/20 RS sector 29.6% · RS bench 37.6% · 1Y 57.1%9 of 12 weeks ahead 100% evidence
Exact sum: 20 + 21.9 + 9.3 + 13.8 = 65 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6String Metaverse Ltd534535 63.4/100Mixed-positive evidence82% evidence BASING 27.2/35 Revenue 100% · PAT 100% · OPM change 0 pp 95% evidence 15.7/25 ROCE 41.6% · OPM 11% 76% evidence 14.8/20 P/E 8.2× · PEG — 50% evidence 5.7/20 RS sector -48% · RS bench -35.6% · 1Y -70.4%1 of 12 weeks ahead 100% evidence
Exact sum: 27.2 + 15.7 + 14.8 + 5.7 = 63.4 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -48% and the one-year return is -70.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
7Cigniti Technologies LtdCIGNITITEC 63.3/100Mixed-positive evidence73% evidence 23.4/35 Revenue 14% · PAT 96.1% · OPM change 2 pp 56% evidence 16.2/25 ROCE 34.1% · OPM 18% 75% evidence 16.2/20 P/E 11.4× · PEG 0.61 100% evidence 7.5/20 RS sector -10.2% · RS bench -15% · 1Y -19.7%0 of 12 weeks ahead to 2026-05-17 70% evidence
Exact sum: 23.4 + 16.2 + 16.2 + 7.5 = 63.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Tech Mahindra LtdTECHM 63.2/100Mixed-positive evidence94% evidence BREAKING OUT 21.1/35 Revenue 10.9% · PAT 14.3% · OPM change 3 pp 100% evidence 16.3/25 ROCE 23.1% · OPM 17% 100% evidence 10.6/20 P/E 28.4× · PEG 0.76 100% evidence 15.2/20 RS sector 14.8% · RS bench 4% · 1Y 4.3%8 of 11 weeks ahead 70% evidence
Exact sum: 21.1 + 16.3 + 10.6 + 15.2 = 63.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9TAC Infosec LtdTAC 63.0/100Mixed-positive evidence66% evidence TURNING 25.6/35 Revenue 76.4% · PAT 59.4% · OPM change 1.6 pp 71% evidence 20.9/25 ROCE 38.1% · OPM 48.2% 95% evidence 9.5/20 P/E 35.7× · PEG — 15% evidence 7.0/20 RS sector -13.2% · RS bench -15.4% · 1Y -14.4%4 of 10 weeks ahead 70% evidence
Exact sum: 25.6 + 20.9 + 9.5 + 7 = 63 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Sasken Technologies LtdSASKEN 61.6/100Mixed-positive evidence100% evidence FADING 30.7/35 Revenue 67.8% · PAT 67.4% · OPM change 4 pp 100% evidence 8.1/25 ROCE 9.9% · OPM 9% 100% evidence 10.4/20 P/E 36.7× · PEG 0.68 100% evidence 12.4/20 RS sector 9.5% · RS bench 16.6% · 1Y 25%8 of 12 weeks ahead 100% evidence
Exact sum: 30.7 + 8.1 + 10.4 + 12.4 = 61.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Softtech Engineers LtdSOFTTECH 60.8/100Mixed-positive evidence80% evidence TURNING 25.2/35 Revenue 35.8% · PAT 100% · OPM change -0.1 pp 95% evidence 12.1/25 ROCE 6.2% · OPM 27.2% 95% evidence 8.7/20 P/E 124× · PEG — 15% evidence 14.8/20 RS sector 19.9% · RS bench 27.6% · 1Y 13.7%6 of 12 weeks ahead 100% evidence
Exact sum: 25.2 + 12.1 + 8.7 + 14.8 = 60.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Datamatics Global Services LtdDATAMATICS 60.7/100Mixed-positive evidence94% evidence ASLEEP 21.0/35 Revenue 13.1% · PAT 1.9% · OPM change 4 pp 100% evidence 15.9/25 ROCE 20.4% · OPM 20% 100% evidence 10.6/20 P/E 17.7× · PEG 0.69 100% evidence 13.2/20 RS sector 9.6% · RS bench -3.3% · 1Y -21.3%5 of 10 weeks ahead 70% evidence
Exact sum: 21 + 15.9 + 10.6 + 13.2 = 60.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13IZMO LtdIZMO 60.6/100Mixed-positive evidence81% evidence FADING 24.1/35 Revenue 24.7% · PAT 10.2% · OPM change 8 pp 95% evidence 14.2/25 ROCE 12.6% · OPM 25% 95% evidence 6.6/20 P/E 25.3× · PEG — 50% evidence 15.7/20 RS sector 29% · RS bench 7.6% · 1Y 20.9%8 of 10 weeks ahead 70% evidence
Exact sum: 24.1 + 14.2 + 6.6 + 15.7 = 60.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14Danlaw Technologies India Ltd532329 59.9/100Mixed-positive evidence67% evidence TURNING 21.8/35 Revenue 24.1% · PAT 34.5% · OPM change 0.8 pp 95% evidence 15.5/25 ROCE 27.6% · OPM 13.4% 76% evidence 10.2/20 P/E 32× · PEG — 50% evidence 12.4/20 RS sector — · RS bench 93% · 1Y —4 of 4 weeks ahead 25% evidence
Exact sum: 21.8 + 15.5 + 10.2 + 12.4 = 59.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Expleo Solutions LtdEXPLEOSOL 59.6/100Mixed-positive evidence81% evidence TURNING 20.9/35 Revenue 10.4% · PAT 39.4% · OPM change 4 pp 95% evidence 15.8/25 ROCE 24.2% · OPM 15% 95% evidence 13.7/20 P/E 9.4× · PEG — 50% evidence 9.2/20 RS sector -13.3% · RS bench 1.4% · 1Y -12.8%2 of 10 weeks ahead 70% evidence
Exact sum: 20.9 + 15.8 + 13.7 + 9.2 = 59.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Hypersoft Technologies Ltd539724 59.6/100Mixed-positive evidence67% evidence FADING 25.5/35 Revenue 100% · PAT 100% · OPM change 2.9 pp 71% evidence 11.9/25 ROCE 20.6% · OPM 14% 76% evidence 8.6/20 P/E 386× · PEG — 15% evidence 13.6/20 RS sector 40.8% · RS bench 50.5% · 1Y 116.6%10 of 12 weeks ahead 100% evidence
Exact sum: 25.5 + 11.9 + 8.6 + 13.6 = 59.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17InfoBeans Technologies LtdINFOBEAN 58.9/100Mixed-positive evidence87% evidence ASLEEP 26.5/35 Revenue 35.5% · PAT 60.4% · OPM change 0 pp 95% evidence 16.9/25 ROCE 29.2% · OPM 21% 95% evidence 9.7/20 P/E 17.6× · PEG — 50% evidence 5.8/20 RS sector -12.9% · RS bench -6.5% · 1Y 10.4%3 of 12 weeks ahead 100% evidence
Exact sum: 26.5 + 16.9 + 9.7 + 5.8 = 58.9 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -12.9% and the one-year return is 10.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
18R Systems International LtdRSYSTEMS 57.5/100Mixed-positive evidence100% evidence BASING 18.9/35 Revenue 24.1% · PAT -1% · OPM change 3 pp 100% evidence 16.5/25 ROCE 19.5% · OPM 18% 100% evidence 17.7/20 P/E 13.5× · PEG 0.26 100% evidence 4.4/20 RS sector -28.2% · RS bench -23.7% · 1Y -46.9%0 of 12 weeks ahead 100% evidence
Exact sum: 18.9 + 16.5 + 17.7 + 4.4 = 57.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19Ksolves India LtdKSOLVES 57.3/100Mixed-positive evidence87% evidence ASLEEP 17.8/35 Revenue 16% · PAT 16.7% · OPM change 3.9 pp 95% evidence 20.7/25 ROCE 131% · OPM 30.3% 95% evidence 13.8/20 P/E 16.5× · PEG — 50% evidence 5.0/20 RS sector -16.6% · RS bench -10.9% · 1Y -19.3%0 of 12 weeks ahead 100% evidence
Exact sum: 17.8 + 20.7 + 13.8 + 5 = 57.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20BLS E-Services LtdBLSE 56.8/100Mixed-positive evidence75% evidence LEADER 18.1/35 Revenue 71.2% · PAT 9.4% · OPM change 0 pp 95% evidence 10.3/25 ROCE 16.4% · OPM 7% 76% evidence 9.0/20 P/E 48.9× · PEG — 15% evidence 19.4/20 RS sector 41.8% · RS bench 50.4% · 1Y 75.9%12 of 12 weeks ahead 100% evidence
Exact sum: 18.1 + 10.3 + 9 + 19.4 = 56.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21Subex LtdSUBEXLTD 56.5/100Mixed-positive evidence65% evidence BREAKING OUT 24.4/35 Revenue 2.8% · PAT 100% · OPM change 13 pp 95% evidence 10.3/25 ROCE 12.8% · OPM 19% 95% evidence 9.4/20 P/E 36.2× · PEG — 15% evidence 12.4/20 RS sector — · RS bench 80.4% · 1Y —9 of 9 weeks ahead 25% evidence
Exact sum: 24.4 + 10.3 + 9.4 + 12.4 = 56.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22Saksoft LtdSAKSOFT 55.7/100Mixed-positive evidence100% evidence BREAKING OUT 17.9/35 Revenue 8.2% · PAT 13% · OPM change 0 pp 100% evidence 15.6/25 ROCE 25.5% · OPM 18% 100% evidence 13.5/20 P/E 14.5× · PEG 0.6 100% evidence 8.7/20 RS sector -16% · RS bench -10.8% · 1Y -30.5%12 of 12 weeks ahead 100% evidence
Exact sum: 17.9 + 15.6 + 13.5 + 8.7 = 55.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
23Infosys LtdINFY 55.1/100Mixed-positive evidence82% evidence ASLEEP 18.1/35 Revenue 11.2% · PAT 11.1% · OPM change 0 pp 95% evidence 20.1/25 ROCE 40% · OPM 24% 76% evidence 14.0/20 P/E 13.5× · PEG — 50% evidence 2.9/20 RS sector -26.2% · RS bench -21.2% · 1Y -28.2%0 of 12 weeks ahead 100% evidence
Exact sum: 18.1 + 20.1 + 14 + 2.9 = 55.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
24LTM LtdLTM 54.4/100Mixed-positive evidence100% evidence BREAKING OUT 17.1/35 Revenue 13.9% · PAT 10% · OPM change 1 pp 100% evidence 17.9/25 ROCE 29.6% · OPM 18% 100% evidence 10.7/20 P/E 22.6× · PEG 1.18 100% evidence 8.7/20 RS sector -17.1% · RS bench -11.7% · 1Y -17.7%5 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 17.9 + 10.7 + 8.7 = 54.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25AvenuesAI LtdCCAVENUE 53.6/100Mixed-positive evidence93% evidence BREAKING OUT 20.9/35 Revenue 100% · PAT 43.8% · OPM change -2.3 pp 100% evidence 5.0/25 ROCE 7.7% · OPM 3.7% 100% evidence 14.8/20 P/E 19.2× · PEG 0.37 65% evidence 12.9/20 RS sector -4.7% · RS bench 1.7% · 1Y 0.7%12 of 12 weeks ahead 100% evidence
Exact sum: 20.9 + 5 + 14.8 + 12.9 = 53.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
26Xchanging Solutions LtdXCHANGING 53.6/100Mixed-positive evidence81% evidence TURNING 18.6/35 Revenue 8.4% · PAT 13.2% · OPM change 1 pp 95% evidence 15.5/25 ROCE 18% · OPM 34% 95% evidence 13.6/20 P/E 11.4× · PEG — 50% evidence 5.9/20 RS sector -24.4% · RS bench -11.2% · 1Y -30.2%1 of 10 weeks ahead 70% evidence
Exact sum: 18.6 + 15.5 + 13.6 + 5.9 = 53.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
27Blue Cloud Softech Solutions LtdBLUECLOUDS 53.0/100Mixed-positive evidence74% evidence 22.0/35 Revenue 41.1% · PAT 36.2% · OPM change 10 pp 95% evidence 12.4/25 ROCE 14.2% · OPM 20% 95% evidence 9.6/20 P/E 27.6× · PEG — 15% evidence 9.0/20 RS sector -3.8% · RS bench -8.7% · 1Y -33.2%1 of 12 weeks ahead 70% evidence
Exact sum: 22 + 12.4 + 9.6 + 9 = 53 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
28TechNVision Ventures LtdTECHNVISN 52.9/100Mixed-positive evidence74% evidence ASLEEP 25.9/35 Revenue 23.4% · PAT 100% · OPM change 2.9 pp 95% evidence 5.5/25 ROCE 12.9% · OPM 5.2% 95% evidence 8.5/20 P/E 1002× · PEG — 15% evidence 13.0/20 RS sector 32.1% · RS bench -14% · 1Y -20.6%0 of 9 weeks ahead 70% evidence
Exact sum: 25.9 + 5.5 + 8.5 + 13 = 52.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
29Seshaasai Technologies LtdSTYL 52.3/100Mixed-positive evidence73% evidence BREAKING OUT 12.6/35 Revenue 6.7% · PAT 20.6% · OPM change 0 pp 100% evidence 17.1/25 ROCE 27.7% · OPM 23% 100% evidence 12.6/20 P/E 23.7× · PEG 0.81 65% evidence 10.0/20 RS sector — · RS bench — · 1Y -9.1%10 of 10 weeks ahead 0% evidence
Exact sum: 12.6 + 17.1 + 12.6 + 10 = 52.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
30Tanla Platforms LtdTANLA 52.2/100Mixed-positive evidence94% evidence ASLEEP 14.4/35 Revenue 13.2% · PAT 9.9% · OPM change 0 pp 100% evidence 16.5/25 ROCE 26.3% · OPM 16% 100% evidence 13.1/20 P/E 12.5× · PEG 1.21 100% evidence 8.2/20 RS sector -12% · RS bench -5.7% · 1Y -23.7%6 of 10 weeks ahead 70% evidence
Exact sum: 14.4 + 16.5 + 13.1 + 8.2 = 52.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
31Tata Consultancy Services LtdTCS 50.6/100Mixed-positive evidence100% evidence TURNING 10.0/35 Revenue 7.7% · PAT 1.1% · OPM change -1 pp 100% evidence 22.5/25 ROCE 63% · OPM 26% 100% evidence 11.9/20 P/E 14.8× · PEG 1.85 100% evidence 6.2/20 RS sector -21.5% · RS bench -16.2% · 1Y -27.8%0 of 12 weeks ahead 100% evidence
Exact sum: 10 + 22.5 + 11.9 + 6.2 = 50.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
32Capillary Technologies India LtdCAPILLARY 50.4/100Mixed-positive evidence63% evidence ASLEEP 27.4/35 Revenue 27.8% · PAT 135.8% · OPM change 5.8 pp 100% evidence 4.1/25 ROCE 3.4% · OPM 15.7% 100% evidence 8.9/20 P/E 71.8× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —0 of 10 weeks ahead 0% evidence
Exact sum: 27.4 + 4.1 + 8.9 + 10 = 50.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
33RNIT AI Solutions LtdAUTOPALIND 50.4/100Thin evidence · provisional55% evidence BREAKING OUT 16.9/35 Revenue 56.7% · PAT 71.3% · OPM change -0.6 pp 95% evidence 14.6/25 ROCE 20.2% · OPM 35.3% 76% evidence 8.9/20 P/E 68× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —5 of 12 weeks ahead 0% evidence
Exact sum: 16.9 + 14.6 + 8.9 + 10 = 50.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
34Birlasoft LtdBSOFT 50.3/100Mixed-positive evidence100% evidence ASLEEP 19.7/35 Revenue 1.4% · PAT 21.1% · OPM change 4 pp 100% evidence 13.0/25 ROCE 21.2% · OPM 16% 100% evidence 14.6/20 P/E 13.2× · PEG 0.62 100% evidence 3.0/20 RS sector -26% · RS bench -20.6% · 1Y -25%0 of 12 weeks ahead 100% evidence
Exact sum: 19.7 + 13 + 14.6 + 3 = 50.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
35Mphasis LtdMPHASIS 49.0/100Mixed-negative evidence94% evidence FADING 15.0/35 Revenue 13.7% · PAT 9.9% · OPM change -1 pp 100% evidence 17.3/25 ROCE 22.1% · OPM 18% 100% evidence 6.0/20 P/E 22.6× · PEG 2.19 100% evidence 10.7/20 RS sector 0% · RS bench -7% · 1Y -18%3 of 10 weeks ahead 70% evidence
Exact sum: 15 + 17.3 + 6 + 10.7 = 49 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
36Hexaware Technologies LtdHEXT 48.9/100Mixed-negative evidence94% evidence FADING 14.2/35 Revenue 13% · PAT 1.2% · OPM change 4 pp 100% evidence 17.8/25 ROCE 30.1% · OPM 16% 100% evidence 10.7/20 P/E 21.4× · PEG 0.81 100% evidence 6.2/20 RS sector -21.4% · RS bench -14.7% · 1Y -31.1%6 of 10 weeks ahead 70% evidence
Exact sum: 14.2 + 17.8 + 10.7 + 6.2 = 48.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
37HCL Technologies LtdHCLTECH 48.2/100Mixed-negative evidence82% evidence BREAKING OUT 12.2/35 Revenue 12.6% · PAT 2.6% · OPM change 0 pp 95% evidence 19.0/25 ROCE 30.4% · OPM 20% 76% evidence 9.0/20 P/E 18× · PEG — 50% evidence 8.0/20 RS sector -18.3% · RS bench -12.7% · 1Y -15%7 of 12 weeks ahead 100% evidence
Exact sum: 12.2 + 19 + 9 + 8 = 48.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
38Mastek LtdMASTEK 47.9/100Mixed-negative evidence82% evidence FADING 13.8/35 Revenue 6% · PAT 5% · OPM change 0 pp 95% evidence 13.3/25 ROCE 17.7% · OPM 15% 76% evidence 12.6/20 P/E 11.5× · PEG — 50% evidence 8.2/20 RS sector -16.4% · RS bench -11.1% · 1Y -33.2%4 of 12 weeks ahead 100% evidence
Exact sum: 13.8 + 13.3 + 12.6 + 8.2 = 47.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
39Dynacons Systems & Solutions LtdDSSL 47.2/100Mixed-negative evidence87% evidence ASLEEP 16.8/35 Revenue 10.5% · PAT 16.2% · OPM change 3 pp 95% evidence 15.4/25 ROCE 29.8% · OPM 13% 95% evidence 8.1/20 P/E 15.9× · PEG — 50% evidence 6.9/20 RS sector -7% · RS bench -0.5% · 1Y 9%6 of 12 weeks ahead 100% evidence
Exact sum: 16.8 + 15.4 + 8.1 + 6.9 = 47.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
40Zensar Technologies LtdZENSARTECH 46.6/100Mixed-negative evidence100% evidence ASLEEP 15.6/35 Revenue 8% · PAT 15.3% · OPM change 0 pp 100% evidence 13.6/25 ROCE 22.8% · OPM 15% 100% evidence 14.3/20 P/E 12.2× · PEG 1.11 100% evidence 3.1/20 RS sector -33% · RS bench -28.6% · 1Y -45.2%0 of 12 weeks ahead 100% evidence
Exact sum: 15.6 + 13.6 + 14.3 + 3.1 = 46.6 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
41Unicommerce eSolutions LtdUNIECOM 46.6/100Mixed-negative evidence74% evidence ASLEEP 14.4/35 Revenue 38.4% · PAT 18.1% · OPM change -8.1 pp 95% evidence 16.5/25 ROCE 21.1% · OPM 10.6% 95% evidence 9.1/20 P/E 44.1× · PEG — 15% evidence 6.6/20 RS sector -14.5% · RS bench -19.2% · 1Y -44.1%0 of 10 weeks ahead 70% evidence
Exact sum: 14.4 + 16.5 + 9.1 + 6.6 = 46.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
42XT Global Infotech LtdXTGLOBAL 46.5/100Mixed-negative evidence61% evidence 18.4/35 Revenue 85.4% · PAT 29.4% · OPM change -6.6 pp 53% evidence 9.4/25 ROCE 7.5% · OPM 9.5% 71% evidence 9.1/20 P/E 40.8× · PEG — 50% evidence 9.6/20 RS sector -1% · RS bench -12.7% · 1Y -21.9%2 of 12 weeks ahead to 2026-03-29 70% evidence
Exact sum: 18.4 + 9.4 + 9.1 + 9.6 = 46.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
43Wipro LtdWIPRO 45.0/100Mixed-negative evidence100% evidence BASING 12.9/35 Revenue 6.4% · PAT -1.7% · OPM change 0 pp 100% evidence 15.3/25 ROCE 17.8% · OPM 19% 100% evidence 13.5/20 P/E 12.5× · PEG 1.4 100% evidence 3.3/20 RS sector -25.8% · RS bench -20.8% · 1Y -31.3%0 of 12 weeks ahead 100% evidence
Exact sum: 12.9 + 15.3 + 13.5 + 3.3 = 45 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
44Excelsoft Technologies LtdEXCELSOFT 44.3/100Mixed-negative evidence60% evidence TURNING 12.0/35 Revenue 26.8% · PAT 4.2% · OPM change -1.8 pp 95% evidence 12.2/25 ROCE 13.6% · OPM 16.3% 95% evidence 10.1/20 P/E 18.7× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —0 of 10 weeks ahead 0% evidence
Exact sum: 12 + 12.2 + 10.1 + 10 = 44.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
45Sonata Software LtdSONATSOFTW 43.1/100Mixed-negative evidence100% evidence BREAKING OUT 9.0/35 Revenue 4% · PAT 7.9% · OPM change 0 pp 100% evidence 13.6/25 ROCE 30.7% · OPM 5% 100% evidence 13.1/20 P/E 14.7× · PEG 0.81 100% evidence 7.4/20 RS sector -17.3% · RS bench -12.1% · 1Y -25.9%11 of 12 weeks ahead 100% evidence
Exact sum: 9 + 13.6 + 13.1 + 7.4 = 43.1 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
4663 Moons Technologies Ltd63MOONS 43.1/100Thin evidence · provisional58% evidence BREAKING OUT 20.6/35 Revenue 100% · PAT -80% · OPM change 128 pp 71% evidence 3.4/25 ROCE -3.7% · OPM -52% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 9.1/20 RS sector -22.4% · RS bench 28.9% · 1Y -1.6%10 of 11 weeks ahead 70% evidence
Exact sum: 20.6 + 3.4 + 10 + 9.1 = 43.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
47Magellanic Cloud LtdMCLOUD 38.9/100Mixed-negative evidence81% evidence TURNING 9.6/35 Revenue 13.7% · PAT 6.7% · OPM change -7 pp 95% evidence 13.9/25 ROCE 19.8% · OPM 28% 95% evidence 11.9/20 P/E 13.6× · PEG — 50% evidence 3.5/20 RS sector -54.4% · RS bench -23.4% · 1Y -68%6 of 11 weeks ahead 70% evidence
Exact sum: 9.6 + 13.9 + 11.9 + 3.5 = 38.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
48Innovana Thinklabs LtdINNOVANA 38.7/100Mixed-negative evidence81% evidence TURNING 8.7/35 Revenue 26% · PAT -39% · OPM change -32.5 pp 95% evidence 11.3/25 ROCE 15.8% · OPM 17.6% 95% evidence 9.0/20 P/E 21.9× · PEG — 50% evidence 9.7/20 RS sector -0.4% · RS bench -15.1% · 1Y -40.3%0 of 10 weeks ahead 70% evidence
Exact sum: 8.7 + 11.3 + 9 + 9.7 = 38.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
49Kellton Tech Solutions LtdKELLTONTEC 36.2/100Mixed-negative evidence87% evidence BASING 10.0/35 Revenue 9.5% · PAT 9.6% · OPM change -1 pp 95% evidence 9.7/25 ROCE 15% · OPM 11% 95% evidence 11.9/20 P/E 8× · PEG — 50% evidence 4.6/20 RS sector -24.3% · RS bench -19.4% · 1Y -45.5%0 of 12 weeks ahead 100% evidence
Exact sum: 10 + 9.7 + 11.9 + 4.6 = 36.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
50Aurionpro Solutions LtdAURIONPRO 36.1/100Mixed-negative evidence93% evidence ASLEEP 12.9/35 Revenue 14.8% · PAT 5.1% · OPM change -3 pp 100% evidence 10.7/25 ROCE 16.3% · OPM 17% 100% evidence 10.0/20 P/E 18× · PEG 1.39 65% evidence 2.5/20 RS sector -30.2% · RS bench -25.6% · 1Y -47.2%2 of 12 weeks ahead 100% evidence
Exact sum: 12.9 + 10.7 + 10 + 2.5 = 36.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
51Allied Digital Services LtdADSL 35.5/100Mixed-negative evidence74% evidence BASING 14.2/35 Revenue 19.1% · PAT 5.6% · OPM change 0 pp 95% evidence 6.5/25 ROCE 7.4% · OPM 9% 95% evidence 10.7/20 P/E 14.6× · PEG — 15% evidence 4.1/20 RS sector -29.8% · RS bench -24.4% · 1Y -39.4%1 of 10 weeks ahead 70% evidence
Exact sum: 14.2 + 6.5 + 10.7 + 4.1 = 35.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
52Mindteck (India) LtdMINDTECK 32.3/100Adverse evidence87% evidence ASLEEP 7.9/35 Revenue -1.8% · PAT 0.3% · OPM change -1.7 pp 95% evidence 10.4/25 ROCE 15.1% · OPM 7.8% 95% evidence 11.8/20 P/E 15.3× · PEG — 50% evidence 2.2/20 RS sector -27.9% · RS bench -23.1% · 1Y -24.6%3 of 12 weeks ahead 100% evidence
Exact sum: 7.9 + 10.4 + 11.8 + 2.2 = 32.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
53Moschip Technologies LtdMOSCHIP 31.1/100Adverse evidence87% evidence TURNING 7.7/35 Revenue 8.4% · PAT -33.6% · OPM change -3.9 pp 100% evidence 7.0/25 ROCE 11% · OPM 8.2% 100% evidence 3.7/20 P/E 129× · PEG 5.04 65% evidence 12.7/20 RS sector 1.9% · RS bench 0.9% · 1Y -15.1%3 of 10 weeks ahead 70% evidence
Exact sum: 7.7 + 7 + 3.7 + 12.7 = 31.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
54Orient Technologies LtdORIENTTECH 30.7/100Thin evidence · provisional54% evidence BASING 15.1/35 Revenue — · PAT — · OPM change -0.5 pp 19% evidence 2.4/25 ROCE 8.4% · OPM 6.7% 95% evidence 9.0/20 P/E 45.6× · PEG — 15% evidence 4.2/20 RS sector -21.8% · RS bench -16.7% · 1Y -9.4%0 of 12 weeks ahead 100% evidence
Exact sum: 15.1 + 2.4 + 9 + 4.2 = 30.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
55Quick Heal Technologies Ltdthis pageQUICKHEAL 20.4/100Adverse evidence69% evidence BASING 6.2/35 Revenue -6.6% · PAT -80% · OPM change -22.1 pp 71% evidence 1.8/25 ROCE -6% · OPM -39% 95% evidence 10.0/20 P/E — · PEG — 0% evidence 2.4/20 RS sector -32.9% · RS bench -29.1% · 1Y -50.2%2 of 12 weeks ahead 100% evidence
Exact sum: 6.2 + 1.8 + 10 + 2.4 = 20.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
56Covance Softsol Ltd544361 66.8/100Thin evidence · provisional49% evidence 25.8/35 Revenue 43.5% · PAT 100% · OPM change 19.7 pp 62% evidence 17.8/25 ROCE 31.4% · OPM 23.1% 76% evidence 11.1/20 P/E 12.9× · PEG — 15% evidence 12.1/20 RS sector — · RS bench 48.4% · 1Y — 25% evidence
Exact sum: 25.8 + 17.8 + 11.1 + 12.1 = 66.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
57Exato Technologies Ltd544626 57.8/100Thin evidence · provisional38% evidence TURNING 21.0/35 Revenue — · PAT — · OPM change 3.4 pp 45% evidence 17.5/25 ROCE 26.8% · OPM 18% 76% evidence 9.3/20 P/E 40× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —4 of 4 weeks ahead 0% evidence
Exact sum: 21 + 17.5 + 9.3 + 10 = 57.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
58Unified Data- Tech Solutions LtdUNIFIED 56.1/100Thin evidence · provisional36% evidence 16.9/35 Revenue — · PAT — · OPM change 1 pp 26% evidence 18.8/25 ROCE 45.2% · OPM 15% 76% evidence 10.2/20 P/E 18.6× · PEG — 15% evidence 10.2/20 RS sector — · RS bench -1.2% · 1Y 15.3%0 of 12 weeks ahead 25% evidence
Exact sum: 16.9 + 18.8 + 10.2 + 10.2 = 56.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
59Kody Technolab LtdKODYTECH 54.2/100Thin evidence · provisional48% evidence BREAKING OUT 15.2/35 Revenue — · PAT — · OPM change -5 pp 19% evidence 14.4/25 ROCE 16.8% · OPM 29% 95% evidence 8.7/20 P/E 125× · PEG — 15% evidence 15.9/20 RS sector 10.3% · RS bench 61.9% · 1Y 107.4%10 of 10 weeks ahead 70% evidence
Exact sum: 15.2 + 14.4 + 8.7 + 15.9 = 54.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
60Metalic Technoforge LtdMETA 53.0/100Thin evidence · provisional27% evidence 16.2/35 Revenue — · PAT — · OPM change -2 pp 13% evidence 17.1/25 ROCE 36.1% · OPM 8% 76% evidence 9.7/20 P/E 25.3× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y -12.7%0 of 12 weeks ahead 0% evidence
Exact sum: 16.2 + 17.1 + 9.7 + 10 = 53 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
61Veefin Solutions LtdVEEFIN 47.3/100Thin evidence · provisional50% evidence 17.7/35 Revenue — · PAT — · OPM change -5.1 pp 19% evidence 10.6/25 ROCE 9.8% · OPM 19.7% 76% evidence 12.2/20 P/E 27.7× · PEG — 50% evidence 6.8/20 RS sector -7.2% · RS bench -24.9% · 1Y -40%0 of 12 weeks ahead 70% evidence
Exact sum: 17.7 + 10.6 + 12.2 + 6.8 = 47.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
62Trident Techlabs LtdTECHLABS 45.8/100Thin evidence · provisional40% evidence 16.0/35 Revenue — · PAT — · OPM change -2 pp 15% evidence 16.2/25 ROCE 26.7% · OPM 27% 71% evidence 10.5/20 P/E 14.9× · PEG — 15% evidence 3.1/20 RS sector -50.2% · RS bench -56.5% · 1Y -72.5%0 of 12 weeks ahead to 2026-03-29 70% evidence
Exact sum: 16 + 16.2 + 10.5 + 3.1 = 45.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
63ERP Soft Systems Ltd530909 44.2/100Thin evidence · provisional41% evidence 19.8/35 Revenue 19.1% · PAT 100% · OPM change -1.1 pp 53% evidence 8.0/25 ROCE 1.6% · OPM 1.7% 57% evidence 8.8/20 P/E 74.9× · PEG — 15% evidence 7.6/20 RS sector — · RS bench -47.6% · 1Y -59.7%0 of 12 weeks ahead to 2026-03-29 25% evidence
Exact sum: 19.8 + 8 + 8.8 + 7.6 = 44.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
64IDream Film Infrastructure Company Ltd504375 38.2/100Thin evidence · provisional35% evidence TURNING 12.8/35 Revenue — · PAT 100% · OPM change — 33% evidence 3.1/25 ROCE -9.2% · OPM -25.8% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 12.3/20 RS sector — · RS bench 78% · 1Y —8 of 8 weeks ahead 25% evidence
Exact sum: 12.8 + 3.1 + 10 + 12.3 = 38.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Quick Heal Technologies Ltd's share price today?

Quick Heal Technologies Ltd trades at ₹148, −55.1% over the past year. The company is valued at ₹801 Cr. The stock sits at 8% of its 52-week range of ₹133–₹318, −24.8% versus its 200-day average. On the tape, the price is in a downtrend, 83 weeks in. — as of 11 September 2026.

What were Quick Heal Technologies Ltd's latest quarterly results?

Quick Heal Technologies Ltd reported revenue of ₹45.0 Cr and a net loss of ₹5.3 Cr for the Jun 26 quarter. Earnings per share were ₹−0.97. The operating margin was −39.0%, 22.0 pp lower than a year earlier. — as of 11 September 2026.

What is Quick Heal Technologies Ltd's revenue?

Quick Heal Technologies Ltd reported revenue of ₹45.0 Cr in the Jun 26 quarter, −21.4% year on year. For the full FY26 fiscal year, revenue was ₹261 Cr (−6.8%). Over the last 10 years revenue compounded at −1.4% a year. — as of 11 September 2026.

What is Quick Heal Technologies Ltd's profit?

Quick Heal Technologies Ltd earned ₹−5.3 Cr of net profit in the Jun 26 quarter. Full-year FY26 profit was ₹−11.0 Cr. The operating margin ran −39.0% in the latest quarter. — as of 11 September 2026.

What is Quick Heal Technologies Ltd's market cap?

Quick Heal Technologies Ltd's market capitalisation is ₹801 Cr at a share price of ₹148. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.

What is Quick Heal Technologies Ltd's P/E ratio?

Quick Heal Technologies Ltd trades at a P/E of 196.7×, at the most expensive it has been in 10 years, against a long-run median of 21.1×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.

Does Quick Heal Technologies Ltd pay a dividend?

Not in its latest year — Quick Heal Technologies Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 11 of its last 13 reported fiscal years, so there is a history but no current dividend. — as of 11 September 2026.

Is Quick Heal Technologies Ltd overvalued?

On its own history, Quick Heal Technologies Ltd looks expensive: its P/E of 196.7× sits at the most expensive it has been in 10 years (long-run median 21.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.

How is Quick Heal Technologies Ltd performing?

Quick Heal Technologies Ltd is in a downtrend, 83 weeks in. Against the NIFTY 500 it has been behind on a trailing-13-week view for 12 weeks. This describes what the data did, not a rating. — as of 11 September 2026.

Is Quick Heal Technologies Ltd in an uptrend?

No — the price is in a downtrend (week 83 of stage 4), trading −24.8% versus its 200-day average and at 8% 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 11 September 2026.

Is Quick Heal Technologies Ltd beating the market?

Not lately — on a trailing-13-week view Quick Heal Technologies Ltd is currently behind the NIFTY 500 (12 weeks and counting; last ahead the week of 2026-06-25), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved −25% against the NIFTY 500's +273% — behind the index over the full window. — as of 11 September 2026.

Will Quick Heal Technologies Ltd's share price go up?

This page publishes no price forecast for Quick Heal Technologies Ltd. What it measures instead: the share price is ₹148, the price is in a downtrend 83 weeks in. Its P/E of 196.7× sits at the 100th percentile of its own 10-year range. — as of 11 September 2026.

Who owns Quick Heal Technologies Ltd?

Promoters hold 71.5% of Quick Heal Technologies Ltd, foreign institutions 0.5%, domestic institutions 0.0% and the public 28.1% (latest quarter). The biggest move on the register over the last two years: Domestic institutions cut 2.4 points over 8 quarters. — as of 11 September 2026.

Does Quick Heal Technologies Ltd have too much debt?

No — Quick Heal Technologies Ltd's debt-to-equity is 0.00. FY26 borrowings were ₹0.0 Cr against equity of ₹436 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.

What is Quick Heal Technologies Ltd's capex?

Quick Heal Technologies Ltd spent ₹38.0 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 ₹17.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.

What is Quick Heal Technologies Ltd's cash flow?

Quick Heal Technologies Ltd generated ₹15.0 Cr of operating cash flow in FY26 and ₹−2.0 Cr of free cash flow after ₹17.0 Cr of capital spending. Reported profit that year was ₹−11.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.

Is Quick Heal Technologies Ltd's profit real cash?

Mostly — over the last 3 fiscal years, 77% of Quick Heal Technologies Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹15.0 Cr against reported profit of ₹−11.0 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 11 September 2026.

Where is Quick Heal Technologies Ltd in its business cycle?

Quick Heal Technologies Ltd's FY26 operating margin was −11.0%, against a 13-year band of −11.0%–42.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran −39.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.

What could break the Quick Heal Technologies Ltd story?

The sharpest disagreement: the price moved −55.1% in a year while annual EPS moved −316.1% — the difference is re-rating, and re-rating has to be repaid with earnings. 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 11 September 2026.

Is Quick Heal Technologies Ltd a stock worth studying right now?

This is not investment advice. The machine read: Quick Heal Technologies Ltd's price has outrun its earnings. −55.1% in a year against EPS −316.1% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.

Sector Alpha — machine-written from the numbers · Data as of 2026-09-11. Every chart on this page is drawn by deterministic code from the raw series — no forecasts, no price opinions, and nothing here is investment advice.

Not SEBI Registered !! Not Investment advice !!

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