544343
CapitalNumbers financials
- Market cap
- ₹195 Cr
- Sector
- Information Technology
- Calls analysed
- 3
CapitalNumbers Q4 FY26
What went well
- Total income grew 9.4% YoY to INR 115.60 crores in FY26, with revenue from operations increasing to INR 105.05 crores from INR 99.7 crores in FY25.
- EBITDA remained healthy at INR 35.80 crores (vs. INR 35.69 crores in FY25), maintaining a 31% margin, reflecting resilience despite investments.
- Secured two Fortune 500 client wins in H2 FY26, one in life sciences/healthcare and one in chemical/materials, strengthening enterprise positioning.
What to watch
- FY26 revenue growth of 9.4% was below internal expectations due to elongated enterprise decision-making cycles and delayed ramp-ups in certain large engagements during H2.
- PAT slightly declined to INR 25.50 crores in FY26 from INR 25.80 crores in FY25, and Basic EPS decreased to INR 10.44 from INR 11.83, primarily due to the impact of a full-year weighted average post-IPO share count.
What CapitalNumbers does
CapitalNumbers Infotech Limited delivers end-to-end software development and digital engineering services to global enterprises and startups through a hybrid onshore-offshore delivery model, operating from development centers in Kolkata and Gurgaon. Client engagements are structured predominantly as Time & Material contracts, with a smaller share on Fixed Cost terms, serving enterprise clients across the United States, Europe & UK, India, the Middle East and the rest of the world. A dedicated AI Center of Excellence embeds Generative AI across the software development lifecycle - covering requirements, code generation, testing and documentation - and has delivered projects for enterprise clients including Fortune 500 accounts in life sciences/healthcare and chemicals/materials.
Segments
- Software Development & Digital Engineering
- AI/ML/GenAI Solutions
- Development centers
- 2 (Kolkata and Gurgaon)
- Active clients
- 250+
- Professionals (headcount)
- 500+
- Engagement model mix
- 91% Time & Material / 9% Fixed Cost
- Fortune 500 client wins (FY26)
- 2
- Trade-show/BD leads generated (FY26)
- 500+ qualified leads across 9 events
Guidance record · Q4 FY26
what the last two calls moved 10 tracked 1 delivered 3 missed 6 open- M&A Deal Closure delivered, diluted said Q4 FY25 Promised: within first couple of months itself, we should be getting to an LOI stage. Q4 FY26: Announced proposed acquisition of Epitome Cloud Inc. for INR 40 cr. Due diligence is complete and definitive documentation is in advanced stages. The deal was executed within FY26, but significantly later than the initial 'first couple of months' timeline.
- Organic Revenue Growth missed said Q4 FY25 Promised: Our organic base should grow by about 15% on a Y-o-Y basis this financial year. Q4 FY26: FY26 total income grew 9.4% and revenue from operations grew 5.4%. Management attributed the miss to delayed contract closures in H2.
- Total Revenue delayed said Q4 FY25 Promised: double the revenue in next 36 months Q4 FY26: Management reiterated the goal of reaching INR 200 crores (approx. double FY25 revenue) but reset the timeline to 'the next three years', effectively pushing the target date out to FY29.
All 10 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q4 FY26: revenue up 10.6%, net profit up 0.0% against the same quarter last year.
| Line item | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|
| Revenue | 47 | 50 | 50 | 53 | 52 +11% |
| EBITDA | 15 | 17 | 12 | 14 | 11 −27% |
| Net profit | 11 | 14 | 12 | 15 | 11 +0% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −36.2% 1Y
1Y: ₹123.8 on 10 Sept 2025 → ₹79. High ₹125.4 (16 Sept 2025), low ₹76.45 (1 Jun 2026).
How the price took the results
close before → close after
- Q4 FY26
- +14.5%
- 4 Jun
- Q2 FY26
- +0.0%
- 12 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹21 Cr | ₹24 Cr | ₹24 Cr |
| Reserves | ₹26 Cr | ₹42 Cr | ₹60 Cr | ₹46 Cr | ₹147 Cr | ₹167 Cr |
| Borrowings | ₹2 Cr | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹4 Cr | ₹5 Cr | ₹8 Cr | ₹6 Cr | ₹8 Cr | ₹8 Cr |
| Total liabilities | ₹32 Cr | ₹49 Cr | ₹69 Cr | ₹73 Cr | ₹180 Cr | ₹200 Cr |
| Fixed assets | ₹10 Cr | ₹9 Cr | ₹9 Cr | ₹9 Cr | ₹9 Cr | ₹8 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹14 Cr | ₹18 Cr | ₹23 Cr | ₹36 Cr | ₹54 Cr | ₹81 Cr |
| Other assets | ₹9 Cr | ₹22 Cr | ₹37 Cr | ₹28 Cr | ₹117 Cr | ₹110 Cr |
| Total assets | ₹32 Cr | ₹49 Cr | ₹69 Cr | ₹73 Cr | ₹180 Cr | ₹200 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
Since Mar 2025, the public added +3.45 pp while FIIs trimmed −2.07 pp.
- Promoters
- 75.0%
- FIIs
- 0.2%
- DIIs
- 3.5%
- Public
- 21.4%
Since Mar 2025
- Public +3.45 pp
- FIIs −2.07 pp
- DIIs −1.98 pp
How it drifted, 3 quarters
Over this window the public went from 17.9% to 21.4% — +3.5 pp.
Ownership split by quarter, oldest first. Mar '25: Promoters 74.4%, FIIs 2.2%, DIIs 5.5%, Public 17.9%.Sep '25: Promoters 74.7%, FIIs 0.7%, DIIs 4.6%, Public 20.0%.Mar '26: Promoters 75.0%, FIIs 0.2%, DIIs 3.5%, Public 21.4%.
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Mukul Gupta +0.31 pp 40.40% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of CapitalNumbers above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Mukul Gupta | 40.40% | +0.31 pp |
| Herprit Gupta | 27.17% | unchanged |
| Vipul Gupta | 7.40% | unchanged |
| Smc Global Securities Limited | 1.99% | −0.14 pp |
| Aarth AIF Growth Fund AIF | 1.51% | unchanged |
| Share India Securities Limited | 1.14% | unchanged |
| Saroj Gupta | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
- Growth the price implies
- -16.3% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
All earnings calls (3)
Read the Q4 FY26 call →Learn to analyse CapitalNumbers
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