Sahana Systems Ltd
SAHANASahana Systems Ltd's earnings have outrun its stock. EPS grew +91.4% in a year against a −23.4% price move.
The sharpest disagreement: profits are rising, but only 20% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a downtrend (58 weeks in) while the P/E sits at the 30th percentile of its own 3-year range. Underneath, the last four quarters read improving — profit +88.0% year on year, and 20% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
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.
Sahana Systems Ltd trades at ₹904, in a downtrend and 58 weeks into that stage. That is +11.0% against its own 200-day average. It sits at 51% of a 52-week range of ₹642 to ₹1,157. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (1 week and counting).
Today the stock is in a downtrend — week 58 of stage 4. At ₹904 it trades +11.0% versus its 200-day average and sits at 51% of its 52-week range (₹642–₹1,157).
Against the market, two honest reads. Cumulative: over the last 3.2 years the stock moved +475% while the NIFTY 500 moved +41% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (1 week and counting; last ahead the week of 2026-09-04) — 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.
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.
Sahana Systems Ltd trades at 14.1× P/E, near the bottom of its own range — cheaper only 30% of the time. Its long-run median P/E is 30.1×, measured across 2.9 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 14.1× is near the bottom of its own range — cheaper only 30% of the time, against a long-run median of 30.1× measured over 2.9 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +91.4% against a −23.4% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 3y, of the +51.4%/yr price move, ~+82.4%/yr came from earnings growth and ~−31.0 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.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 13 June 2026 price, Sahana Systems Ltd was paying for profit growth of about −2.7% a year. Today the market pays 14.1× P/E, the 30th percentile of its own 3-year range.
What the two numbers say together. The multiple is low against its own past, and the growth the price is paying for is the whole of what a buyer is backing.
How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
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).
Sahana Systems 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 6 quarters across 1 curve, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
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.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +98.2% | +139.8% | +156.2% | — |
| Profit | +92.3% | +132.1% | — | — |
| EPS | +91.4% | +94.1% | — | — |
| Share price | −23.4% | +51.4% | — | — |
4-Factor Sector Score
68.7/100 — rank 3 of 64 in IT - Software · 70% evidence confidence
Sahana Systems Ltd scores 68.7 out of 100 against the 64 companies it is compared with in IT - Software, ranking 3. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 21.5 + 19.9 + 13.4 + 13.9 = 68.7. 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.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Sahana Systems Ltd reported ₹217 Cr of revenue in the Mar 26 quarter, +88.7% year on year. That is the 6th straight quarter of year-on-year growth. Over 6 years it has compounded at 95.1% a year. The last full year, FY26, came in at ₹331 Cr. The last four reported quarters add to ₹499 Cr.
FY26 revenue came in at ₹331 Cr (+98.2% on the year), capping 6 years at 95.1% compound. The latest quarter (Mar 26) printed ₹217 Cr, +88.7% year on year — the 6th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +120.0% growth against the decade's 95.1% — the current year is running faster than its own long-run rate.
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.
Sahana Systems Ltd's operating margin is 29.0% in the Mar 26 quarter, −3.0 percentage points against the same quarter a year ago. Across the last four quarters the operating margin has moved −9.0 percentage points. Across 7 fiscal years the operating margin has ranged 12.0% to 40.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 29.0%, −3.0 pp against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 12.0%–40.0%.
🚨 Why the margin moved: operating margin went −9.4 pp year on year while gross margin went +3.3 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Sahana Systems Ltd earned ₹47.0 Cr of net profit in the Mar 26 quarter, +88.0% year on year. It is the 6th consecutive quarter of growth. Full-year FY26 profit was ₹75.0 Cr. That is 21.7% of the quarter's revenue. The same quarter a year earlier earned ₹14.0 Cr.
Mar 26 profit was ₹47.0 Cr, +88.0% year on year — the 6th consecutive quarter of growth. On the full year, FY26 printed ₹75.0 Cr (+92.3%).
Why profit moved: revenue contributed +88.7% and the margin −3.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit +111.7% vs revenue +120.0%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
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 20% of Sahana Systems Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹41.0 Cr of operating cash against ₹75.0 Cr of profit. After ₹47.0 Cr of capital spending, ₹−6.0 Cr was left as free cash.
FY26: operating cash of ₹41.0 Cr against reported profit of ₹75.0 Cr, leaving free cash of ₹−6.0 Cr after ₹47.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 20% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 20%: the cash cycle tightened 14,618 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: the bigger cash user is investment — capital spending ran 12.6× depreciation over three years, so the next section's job is to check what that build-out is buying.
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).
Sahana Systems Ltd's cash conversion cycle runs 106 days in FY26, down from 14,724 days in FY21. Capital spending ran ₹101 Cr over the last 3 years. At FY26 sales of ₹331 Cr each day of that cycle holds about ₹0.9 Cr, so roughly ₹96.0 Cr sits inside the business at any moment.
FY26: debtors at 106 days (an asset-light business — no inventory to speak of) — for a full cycle of 106 days, tighter than FY21's 14,724.
In money terms: at FY26 sales of ₹331 Cr, each day of the cycle holds about ₹0.9 Cr — so the 106-day loop keeps roughly ₹96.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹101 Cr over the last 3 fiscal years against ₹8.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹36.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
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
Sahana Systems Ltd earns a ROCE of 40% in FY26. That is up from a trough of 11% in FY21. Return on invested capital clears the cost of that capital by +14.1 percentage points, so growth here adds value rather than only size. The wiring behind it is 22.7% net margin on 0.86× asset turns.
FY26 ROCE is 40%, recovered from a FY21 trough of 11% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 22.7% net margin × 0.86× asset turns × 1.53× balance-sheet leverage ≈ 29.9% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 26.1% − 12.0% = a +14.1 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. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
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
Sahana Systems Ltd carries total debt of ₹18.0 Cr against shareholder equity of ₹283 Cr as of Mar 26, a debt-to-equity of 0.06 — effectively unlevered. On the annual view that ratio went from 0.23 in FY24 to 0.06 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹18.0 Cr against shareholder equity of ₹283 Cr — a debt-to-equity of 0.06. On the annual view, debt-to-equity went from 0.23 (FY24) to 0.06 (FY26). The returns on this page are earned, not borrowed.
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 3.7 points of Sahana Systems Ltd over 8 quarters, the biggest move on the register. That takes promoters to 57.3% of the company. Foreign institutions moved +0.7 points over the same window, to 0.8%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −3.7 points over 8 quarters to 57.3%; Foreign institutions: +0.7 points over 8 quarters to 0.8%; Domestic institutions: +0.2 points over 8 quarters to 0.8%.
🚨 Why the register moved: promoters drove it (−3.7 points), absorbed on the other side by foreign institutions (+0.7 points) — distribution into the market’s bid.
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.
Sahana Systems 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.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative 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 Ltdthis pageSAHANA | 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 LtdQUICKHEAL | 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.
Frequently asked questions
What is Sahana Systems Ltd's share price today?
Sahana Systems Ltd trades at ₹904, −23.4% over the past year. The company is valued at ₹959 Cr. The stock sits at 51% of its 52-week range of ₹642–₹1,157, +11.0% versus its 200-day average. On the tape, the price is in a downtrend, 58 weeks in. — as of 11 September 2026.
What were Sahana Systems Ltd's latest quarterly results?
Sahana Systems Ltd reported revenue of ₹217 Cr and net profit of ₹47.0 Cr for the Mar 26 quarter. Revenue rose 88.7% and profit rose 88.0% year on year. Earnings per share were ₹40.69. The operating margin was 29.0%, 3.0 pp lower than a year earlier. — as of 11 September 2026.
What is Sahana Systems Ltd's revenue?
Sahana Systems Ltd reported revenue of ₹217 Cr in the Mar 26 quarter, +88.7% year on year. For the full FY26 fiscal year, revenue was ₹331 Cr (+98.2%). Over the last 6 years revenue compounded at 95.1% a year. — as of 11 September 2026.
What is Sahana Systems Ltd's profit?
Sahana Systems Ltd earned ₹47.0 Cr of net profit in the Mar 26 quarter, +88.0% year on year — the 6th straight quarter of growth. Full-year FY26 profit was ₹75.0 Cr. The operating margin ran 29.0% in the latest quarter. — as of 11 September 2026.
What is Sahana Systems Ltd's market cap?
Sahana Systems Ltd's market capitalisation is ₹959 Cr at a share price of ₹904. 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 Sahana Systems Ltd's P/E ratio?
Sahana Systems Ltd trades at a P/E of 14.1×, at the 30th percentile of its own 3-year range, against a long-run median of 30.1×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Sahana Systems Ltd pay a dividend?
Yes — Sahana Systems Ltd's dividend payout was 1% of profit in FY26, and it recorded a payout in 1 of its last 7 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Sahana Systems Ltd overvalued?
On its own history, Sahana Systems Ltd looks cheap: its P/E of 14.1× has been cheaper only 30% of the time in 3 years (long-run median 30.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Sahana Systems Ltd growing?
Yes — Sahana Systems Ltd is growing: latest-quarter revenue +88.7% year on year, profit +88.0%, and the margin −3.0 pp at 29.0%. The earnings engine currently reads: improving — as of 11 September 2026.
How is Sahana Systems Ltd performing?
Sahana Systems Ltd is in a downtrend, 58 weeks in. Its latest quarter's revenue rose 88.7% and profit rose 88.0% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 1 week. This describes what the data did, not a rating. — as of 11 September 2026.
Is Sahana Systems Ltd in an uptrend?
No — the price is in a downtrend (week 58 of stage 4), trading +11.0% versus its 200-day average and at 51% 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 Sahana Systems Ltd beating the market?
Not lately — on a trailing-13-week view Sahana Systems Ltd is currently behind the NIFTY 500 (1 week and counting; last ahead the week of 2026-09-04), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 3.2 years the stock moved +475% against the NIFTY 500's +41% — ahead of the index over the full window. — as of 11 September 2026.
Will Sahana Systems Ltd's share price go up?
This page publishes no price forecast for Sahana Systems Ltd. What it measures instead: the share price is ₹904, the price is in a downtrend 58 weeks in. Its P/E of 14.1× sits at the 30th percentile of its own 3-year range. — as of 11 September 2026.
Who owns Sahana Systems Ltd?
Promoters hold 57.3% of Sahana Systems Ltd, foreign institutions 0.8%, domestic institutions 0.8% and the public 41.1% (latest quarter). The biggest move on the register over the last two years: Promoters cut 3.7 points over 8 quarters. — as of 11 September 2026.
Does Sahana Systems Ltd have too much debt?
No — Sahana Systems Ltd's debt-to-equity is 0.07, and operating profit covers the interest bill 50×. FY26 borrowings were ₹18.0 Cr against equity of ₹252 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is Sahana Systems Ltd's capex?
Sahana Systems Ltd spent ₹101 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 ₹47.0 Cr, with ₹36.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Sahana Systems Ltd's cash flow?
Sahana Systems Ltd generated ₹41.0 Cr of operating cash flow in FY26 and ₹−6.0 Cr of free cash flow after ₹47.0 Cr of capital spending. Reported profit that year was ₹75.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Sahana Systems Ltd's profit real cash?
Not fully — over the last 3 fiscal years, 20% of Sahana Systems Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹41.0 Cr against reported profit of ₹75.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is Sahana Systems Ltd in its business cycle?
Sahana Systems Ltd's FY26 operating margin was 30.0%, against a 7-year band of 12.0%–40.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 29.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does Sahana Systems Ltd's price assume?
At its price on 13 June 2026, Sahana Systems Ltd was priced for profit growth of about −2.7% a year. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.
What could break the Sahana Systems Ltd story?
The sharpest disagreement: profits are rising, but only 20% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. 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 Sahana Systems Ltd a stock worth studying right now?
This is not investment advice. The machine read: Sahana Systems Ltd's earnings have outrun its stock. EPS grew +91.4% in a year against a −23.4% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!