KSOLVES

Ksolves India financials

Market cap
₹612 Cr
Sector
Information Technology
Calls analysed
5
Latest concall · Q4 FY26 · call held 06 May 2026

Ksolves India Q4 FY26

FY26 Revenue ₹162.7 cr +18%FY26 EBITDA ₹48.3 cr FY26 EBITDA Margin 29.7% FY26 PAT ₹34.3 cr

What went well

  • FY26 annual revenue grew 18.4% YoY to INR 162.7 crores, crossing the INR 150 crore milestone.
  • Q4 FY26 revenue grew 29.1% YoY to INR 43.03 crores, demonstrating strong top-line performance.
  • Successfully completed strategic wins including a SAP-to-Odoo migration for an Indian infrastructure company and an ERP implementation in East Africa.

What to watch

  • FY26 EBITDA margin compressed to 29.7% from 34.8% in FY25 due to planned investments (ESOPs, senior leadership, travel/events, and INR 1.1 crores for new labor regulations).
  • PAT growth was flat in FY26 compared to FY25, attributed to investments in the DFM product that did not generate revenue.
Read the full call →

What Ksolves India Limited does

Ksolves is an IT services and products company built around Salesforce, Odoo/ERP, Big Data, AI/ML, Generative AI and DevOps practices, delivering digital-transformation, data-engineering and enterprise-automation projects for clients across telecom, BFSI, retail, healthcare, manufacturing and other industries. Alongside services, it builds and sells its own software products, including Odoo add-ons (RollUp Magic, Access Manager Ninja, Dashboard Ninja, Arc Backend Theme, Dynamic Financial Report, Odoo-Shopify/Woocommerce connectors), Salesforce/Google Analytics connectors, Mind AI Ninja, and the Data Flow Manager (DFM) for automating Apache NiFi data-flow deployments. It operates from offices across India (New Delhi, Noida, Pune, Indore) and a wholly-owned UAE subsidiary in Dubai, serving enterprise clients in 30+ countries. The company has been shifting delivery from time-and-material engagements to output-based, AI-agent-assisted delivery.

Segments

  • IT Services
  • IT Products
Offices globally
5 (India: New Delhi, Noida, Pune, Indore; plus Dubai, UAE)
Total employees
600
Total clients
225+
Countries served
30+
AI-certified employees
600+
AI agents in production
50+
Founded 2012Headquarters Noida, Uttar Pradesh, India (corporate office); registered office in New Delhi, IndiaEmployees 600 (FY26) Company website

Guidance record · Q4 FY26

what the last two calls moved 9 tracked 2 delivered 3 missed 4 open
  • FY26 EBITDA Margin delivered said Q2 FY26 Promised: Maintain margin between 25% to 30% Q4 FY26: Full year FY26 EBITDA margin was 29.7%, which is within the guided range.
  • DFM Product Revenue/Breakeven missed said Q1 FY26 Promised: See actual revenue by Q3 FY26; breakeven in 6-12 months. Q4 FY26: Management admits 'I do not see a lot of opportunity in DFM' and pivots focus to services. No further big investments planned.
  • FY27 Revenue Growth open said Q4 FY26 Promised: 18% to 20% annual revenue growth in FY27 Q4 FY26: Guidance provided for FY27.

All 9 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 6.6%, net profit up 28.2% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue35 38 33 38 39 +13%41 +11%42 +26%40 +7%
EBITDA13 14 9 10 12 −9%13 −7%12 +32%12 +16%
Net profit9 10 6 7 8 −9%9 −11%9 +40%8 +28%
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 −16.3% 1Y

₹260₹280₹300₹320₹340Aug 25Oct 25Dec 25Jan 26Mar 26May 26Aug 26Q2 FY26 — 17 Oct 2025Q4 FY26 — 11 May 2026

1Y: ₹308.45 on 13 Aug 2025 → ₹258.1. High ₹349.27 (17 Apr 2026), low ₹258.1 (11 Sept 2026).

Financials, as filed

Revenue grew 27.1% a year over 3 years, FY23 to FY26. Operating margin narrowed to 29.3%.

Year endingFY23FY24FY25FY26
Revenue₹78 Cr₹108 Cr₹137 Cr₹161 Cr
Operating profit₹33 Cr₹46 Cr₹48 Cr₹47 Cr
Operating margin42.0%42.9%35.2%29.3%
Interest₹0 Cr₹0 Cr₹0 Cr₹1 Cr
Depreciation₹1 Cr₹1 Cr₹2 Cr₹3 Cr
Net profit₹25 Cr₹34 Cr₹35 Cr₹33 Cr
Net margin31.6%31.7%25.3%20.6%
ROCE171.0%198.0%157.0%127.0%
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 endingFY21FY22FY23FY24FY25FY26
Equity capital₹1 Cr₹12 Cr₹12 Cr₹12 Cr₹12 Cr₹12 Cr
Reserves₹11 Cr₹4 Cr₹11 Cr₹12 Cr₹21 Cr₹17 Cr
Borrowings₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹2 Cr₹6 Cr
Other liabilities₹3 Cr₹7 Cr₹12 Cr₹16 Cr₹20 Cr₹27 Cr
Total liabilities₹16 Cr₹23 Cr₹34 Cr₹40 Cr₹55 Cr₹62 Cr
Fixed assets₹0 Cr₹1 Cr₹1 Cr₹2 Cr₹6 Cr₹6 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹1 Cr₹1 Cr₹1 Cr₹1 Cr₹0 Cr₹1 Cr
Other assets₹15 Cr₹22 Cr₹33 Cr₹37 Cr₹49 Cr₹54 Cr
Total assets₹16 Cr₹23 Cr₹34 Cr₹40 Cr₹55 Cr₹62 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, the public added +0.49 pp while FIIs trimmed −0.48 pp. The shareholder count shrank 6% to 58,234.

Promoters
58.9%
FIIs
0.0%
DIIs
0.0%
Public
41.1%

Since Jun 2025

  • Public +0.49 pp
  • FIIs −0.48 pp
  • Promoters −0.02 pp

How it drifted, 12 quarters

Over this window the public went from 39.2% to 41.1% — +1.9 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 58.9%, FIIs 1.9%, Public 39.2%.Dec '23: Promoters 58.9%, FIIs 1.8%, Public 39.3%.Mar '24: Promoters 58.9%, FIIs 1.9%, DIIs 0.1%, Public 39.1%.Jun '24: Promoters 58.9%, FIIs 1.6%, DIIs 0.1%, Public 39.4%.Sep '24: Promoters 58.9%, FIIs 0.9%, DIIs 0.1%, Public 40.1%.Dec '24: Promoters 58.9%, FIIs 0.8%, DIIs 0.1%, Public 40.2%.Mar '25: Promoters 58.9%, FIIs 0.6%, Public 40.4%.Jun '25: Promoters 58.9%, FIIs 0.5%, DIIs 0.0%, Public 40.6%.Sep '25: Promoters 58.9%, FIIs 0.1%, DIIs 0.0%, Public 41.0%.Dec '25: Promoters 58.9%, FIIs 0.1%, DIIs 0.0%, Public 40.9%.Mar '26: Promoters 58.9%, FIIs 0.1%, DIIs 0.0%, Public 41.0%.Jun '26: Promoters 58.9%, FIIs 0.0%, DIIs 0.0%, Public 41.1%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Ksolves India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Ratan Kumar Srivastava 31.80%unchanged
Deepali Verma 27.12%unchanged
Sachin Balkrishna Ramdasi 5.28%unchanged
Ravindra Kumar Verma 0.00%unchanged
Shashi Verma 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

Fair

To justify its price of ₹258, this stock must grow earnings at 10% every year for 7 years. Our analysis caps realistic growth at ~10%. At that growth it is worth ₹258 — upside of 0%.

Growth the price implies
10.3% a year
for 7 years, fading to 4%
It has actually compounded at
10.4% a year
net profit, FY23–FY26 · EPS 10.3%
The gap
-0.0 pp
0% downside if it only repeats history
Price today ₹258.1 Value at the reference growth ₹258.4

Change the assumptions yourself →

All earnings calls (4)

Read the Q4 FY26 call →

Learn to analyse Ksolves India Limited

Guides on how to read this kind of business and the numbers that matter.