DCI
DC Infotech financials
- Market cap
- ₹446 Cr
- Sector
- Information Technology
- Calls analysed
- 2
DC Infotech Q4 FY26
What went well
- FY26 Revenue grew 32.6% YoY to ₹736.97 crores, demonstrating strong top-line performance.
- FY26 PAT increased by 46.3% YoY to ₹21.21 crores, indicating improved profitability and operating leverage.
- Long-term credit rating upgraded by CRISIL from BBB- to BBB with a stable outlook, reflecting financial strength.
What to watch
- Geopolitical developments caused temporary moderation in business activities in GCC regions, impacting Sangfor partnership progress.
- Q4 FY26 saw a significant increase in bidding expenses, partly due to unrealized forex exchange impact, though deemed non-recurring by management.
What DC Infotech does
DC Infotech & Communication Limited distributes and integrates networking, unified communication (UC) and enterprise security equipment from global vendors such as Samsung, Netgear, D-Link, Arbor, NETSCOUT, Zscaler, SonicWall and Kramer for large Indian enterprises. It earns from three business lines: Networking (about half of business, anchored by Netgear), Unified Communication (about a quarter, anchored by Samsung LED/AV), and Enterprise Security (about a quarter, anchored by NETSCOUT and Arbor). Beyond distribution, the company provides pre-sales support, technical assistance, logistics and installation/support services, and is shifting toward bundled, higher-value solution and services offerings including data-centre networking, cybersecurity/MDR and unified communication.
Segments
- Networking
- Unified Communication (UC)
- Enterprise Security
- Channel partner network
- 1,600+
- Mid & large enterprise customers served
- 75+
- Technology tie-ups with business partners (brands)
- 12+
- Client retention rate
- >95%
- Branch offices
- 7 (Bhiwandi, Ghatkopar, Andheri, Surat, Ahmedabad, Delhi, Bangalore)
- Sales presence (additional cities)
- Kolkata, Chandigarh, Indore, Pune, Rajkot, Guwahati, Lucknow, Bhubaneshwar, Jaipur
Guidance record · Q4 FY26
what the last two calls moved 5 tracked 0 delivered 1 missed 4 open- Niche Capabilities Acquisition went quiet said Q4 FY25 Promised: Acquire capabilities in AI analytics and managed detection services Q4 FY26: Management did not mention any plans for acquisitions. The strategic focus has shifted to organically building an 'AI infrastructure basket' and leveraging partnerships, rather than acquiring niche capabilities.
- Services Revenue Share revised down said Q4 FY25 Promised: Double current share Q4 FY26: Management revised the target downwards, now aspiring to increase the share from the current ~20% to 25% in the medium term, a significant reduction from the original goal of doubling the share to ~38%.
- Total Revenue on track said Q4 FY25 Promised: 1000 crores Q4 FY26: Management reiterated the target, stating 'we are on track to doing it'. FY26 revenue reached ₹736.97 crores, a 32.6% YoY growth, which is ahead of the required pace to reach ₹1000 crores by FY28.
All 5 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 12.9%, net profit up 11.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 130 | 134 | 173 | 148 | 153 +18% | 196 +46% | 239 +39% | 167 +13% |
| EBITDA | 6 | 7 | 7 | 6 | 8 +32% | 10 +37% | 10 +48% | 8 +21% |
| Net profit | 4 | 4 | 4 | 4 | 5 +36% | 6 +61% | 6 +56% | 5 +12% |
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 +10.4% 1Y
1Y: ₹246.21 on 10 Sept 2025 → ₹271.7. High ₹413.85 (27 Aug 2026), low ₹214.03 (27 Jan 2026).
How the price took the results
close before → close after
- Q4 FY26
- −0.9%
- 8 Jun
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.
Financials, as filed
Revenue grew 27.0% a year over 3 years, FY23 to FY26. Operating margin widened to 4.8%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹360 Cr | ₹460 Cr | ₹556 Cr | ₹737 Cr |
| Operating profit | ₹13 Cr | ₹20 Cr | ₹26 Cr | ₹36 Cr |
| Operating margin | 3.5% | 4.4% | 4.7% | 4.8% |
| Interest | ₹3 Cr | ₹5 Cr | ₹7 Cr | ₹9 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹7 Cr | ₹12 Cr | ₹15 Cr | ₹21 Cr |
| Net margin | 2.0% | 2.5% | 2.6% | 2.9% |
| Cash from operations | ₹-11 Cr | ₹-8 Cr | ₹-4 Cr | ₹-37 Cr |
| Free cash flow | ₹-12 Cr | ₹-9 Cr | ₹-5 Cr | ₹-43 Cr |
| ROCE | — | — | — | 23.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹6 Cr | ₹12 Cr | ₹12 Cr | ₹13 Cr | ₹16 Cr | ₹16 Cr |
| Reserves | ₹12 Cr | ₹10 Cr | ₹18 Cr | ₹38 Cr | ₹73 Cr | ₹91 Cr |
| Borrowings | ₹17 Cr | ₹18 Cr | ₹26 Cr | ₹38 Cr | ₹64 Cr | ₹87 Cr |
| Other liabilities | ₹37 Cr | ₹61 Cr | ₹84 Cr | ₹120 Cr | ₹127 Cr | ₹178 Cr |
| Total liabilities | ₹73 Cr | ₹102 Cr | ₹140 Cr | ₹208 Cr | ₹280 Cr | ₹373 Cr |
| Fixed assets | ₹1 Cr | ₹2 Cr | ₹1 Cr | ₹2 Cr | ₹2 Cr | ₹8 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹72 Cr | ₹100 Cr | ₹139 Cr | ₹206 Cr | ₹277 Cr | ₹365 Cr |
| Total assets | ₹73 Cr | ₹102 Cr | ₹140 Cr | ₹208 Cr | ₹280 Cr | ₹373 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 Jun 2026
Since Jun 2025, promoters trimmed −1.55 pp while the public added +1.53 pp. The shareholder count shrank 14% to 8,851.
- Promoters
- 62.2%
- FIIs
- 1.2%
- Public
- 36.6%
Since Jun 2025
- Promoters −1.55 pp
- Public +1.53 pp
- FIIs +0.02 pp
How it drifted, 12 quarters
Over this window the public fell from 40.0% to 36.6% — −3.4 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 60.0%, Public 40.0%.Dec '23: Promoters 60.0%, Public 40.0%.Mar '24: Promoters 55.4%, Public 44.6%.Jun '24: Promoters 55.4%, FIIs 1.0%, Public 43.6%.Sep '24: Promoters 57.0%, FIIs 1.4%, Public 41.6%.Dec '24: Promoters 59.1%, FIIs 1.3%, Public 39.6%.Mar '25: Promoters 59.1%, FIIs 1.3%, Public 39.6%.Jun '25: Promoters 63.8%, FIIs 1.1%, Public 35.1%.Sep '25: Promoters 63.8%, FIIs 1.1%, Public 35.1%.Dec '25: Promoters 63.8%, FIIs 1.1%, Public 35.1%.Mar '26: Promoters 62.2%, FIIs 1.3%, Public 36.5%.Jun '26: Promoters 62.2%, FIIs 1.2%, Public 36.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Jitendra Tulsidas Patel newly disclosed 1.22% 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 Jun 2026 filing
Every holder of DC Infotech above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Chetankumar H Timbadia | 20.57% | unchanged |
| Devendra Kishorkumar Sayani | 16.46% | unchanged |
| Dhairya Chetankumar Timbadia | 5.27% | unchanged |
| Dharmik Chetankumar Timbadia | 5.27% | unchanged |
| Devansh Kamleshkumar Sayani | 3.66% | unchanged |
| Yash Devendra Sayani | 3.66% | unchanged |
| Madhuri Devendra Sayani . | 3.66% | unchanged |
| Purvi Ketan Patel | 3.15% | unchanged |
| Shah Sejalben Gopalbhai | 2.93% | unchanged |
| Mit Gopalbhai Shah | 2.44% | −0.49 pp |
| Jayesh K Sayani | 2.20% | unchanged |
| Ddmy Enterprise Private Limited | 1.79% | 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
- A decline
- 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 (2)
Read the Q4 FY26 call →Learn to analyse DC Infotech
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