DELAPLEX
Delaplex financials
- Market cap
- ₹98 Cr
- Sector
- Information Technology
- Calls analysed
- 1
DELAPLEX Q2 FY26
What went well
- Consolidated revenue of INR 390 million, up 5% YoY from INR 373 million in H1FY25.
- EBITDA of INR 92 million, up 13% YoY from INR 81 million in H1FY25.
- PAT of INR 72 million, up 13% YoY from INR 64 million.
What to watch
- Standalone business margin dropped by 400 bps due to ESOP expense and solutioning costs.
- Acknowledged global turmoil leading to more value-conscious client spending.
What Delaplex Ltd does
Delaplex is a business technology consultancy and services firm that builds custom software, cloud and data/AI solutions for mid-market and Fortune 1000 clients across retail, healthcare, broadcast media, financial services and technology sectors, delivered through a blended offshore-onsite multi-shore model. Its Supply Chain Management practice covers workforce management, store operations, warehouse management and logistics/distribution consulting. Under the DelaOne brand it also designs and deploys edge-ready Micro Data Centres, including a system-integrator partnership with BSNL to build these across BSNL's pan-India telecom network. The group has expanded through its US parent Delaplex Inc., a wholly-owned UK subsidiary Delaplex Software Limited, and acquisitions of Blueberry Systems Limited (UK) and Celestia Crew Consultancy (Bengaluru, a WFM & HRMS consulting firm).
Segments
- Software Development Services
- Supply Chain Management
- Cloud
- Data Science and AI
- Technology consultancy experience
- 17+ years
- Global associates
- 350+ (across USA, UK, India, Mexico)
- India development centers
- Bangalore, Pune, Hyderabad, Nagpur
- Micro Data Centers deployed
- 4 (2 in Hyderabad, 2 in other states)
- Technology skillsets
- 32+
- Strategic technology partnerships
- Blue Yonder, Microsoft (Gold Partner), Oracle (Gold), IBM, AWS (APN Select Partner), ISTQB (Gold-certified)
Guidance record · Q2 FY26
what the last two calls moved 5 tracked 0 delivered 0 missed 5 open- H2 Revenue Contribution to Annual Revenue open said Q2 FY26 Promised: 55% to 60% Q2 FY26: Guidance issued based on historical seasonal patterns and expected budget approvals in the US market.
All 5 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q4 FY26: revenue up 16.4%, net profit up 16.1% against the same quarter last year.
| Line item | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|
| Revenue | 26 | 28 | 27 | 36 | 32 +22% | 37 +33% | 32 +16% |
| EBITDA | 4 | 6 | 5 | 7 | 7 +86% | 7 +11% | 6 +27% |
| Net profit | 3 | 5 | 5 | 6 | 6 +97% | 7 +43% | 6 +16% |
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 −21.9% 1Y
1Y: ₹130 on 10 Sept 2025 → ₹101.5. High ₹184.65 (3 Oct 2025), low ₹81.1 (25 Aug 2026).
How the price took the results
close before → close after
- Q2 FY26
- −2.7%
- 19 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 | FY25 | FY26 |
|---|---|---|
| Equity capital | ₹9 Cr | ₹9 Cr |
| Reserves | ₹73 Cr | ₹81 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹9 Cr | ₹3 Cr |
| Total liabilities | ₹92 Cr | ₹93 Cr |
| Fixed assets | ₹18 Cr | ₹22 Cr |
| Capital work in progress | ₹0 Cr | ₹1 Cr |
| Investments | ₹0 Cr | ₹0 Cr |
| Other assets | ₹74 Cr | ₹69 Cr |
| Total assets | ₹92 Cr | ₹93 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, promoters added +0.53 pp while DIIs trimmed −0.40 pp. The shareholder count shrank 10% to 1,459.
- Promoters
- 74.3%
- Public
- 25.8%
Since Mar 2025
- Promoters +0.53 pp
- DIIs −0.40 pp
- Public −0.13 pp
How it drifted, 5 quarters
Over this window the public went from 21.7% to 25.8% — +4.0 pp.
Ownership split by quarter, oldest first. Mar '24: Promoters 73.7%, FIIs 2.5%, DIIs 2.2%, Public 21.7%.Sep '24: Promoters 73.7%, DIIs 0.4%, Public 25.9%.Mar '25: Promoters 73.7%, DIIs 0.4%, Public 25.9%.Sep '25: Promoters 73.7%, DIIs 0.4%, Public 25.9%.Mar '26: Promoters 74.3%, Public 25.8%.
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.
- Devesh Sumant Pendharkar newly disclosed 1.19% held
- Dheeraj Kumar Lohia newly disclosed 1.05% held
- Nitin Sachdeva +0.53 pp 39.91% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Delaplex Ltd above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Nitin Sachdeva | 39.91% | +0.53 pp |
| Delaplex Inc | 34.34% | unchanged |
| Devesh Sumant Pendharkar | 1.19% | newly disclosed |
| Dheeraj Kumar Lohia | 1.05% | newly disclosed |
| Iqbalchand Chunilal Sachdeva | 0.00% | unchanged |
| Rekha Iqbalchand Sachdeva | 0.00% | unchanged |
| Preeti N Sachdeva | 0.00% | unchanged |
| Nsmentors Private Limited | 0.00% | unchanged |
| Delastream Solutions Private Limited | 0.00% | unchanged |
| Vicco Products Bombay Pvt Ltd | — | off the list |
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
- -16.8% 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
Learn to analyse Delaplex Ltd
Guides on how to read this kind of business and the numbers that matter.