Qualitek Labs share price & results
- Mar 2026
- Sept 2026
Pan-India Testing, Inspection & Certification (TIC) company running owned and PPP labs across automotive, pharma, food, minerals, electricals & electronics, and environmental testing.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 38.6 | +54.9% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 25.9 | −3.0 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 5.2 | +44.8% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
| Return on equity | +3.6 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | 2.42 | +5.0 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | −21.4 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Price
Performance +10.6% 1Y
1Y: ₹446.5 on 24 Oct 2025 → ₹494. High ₹647.6 (24 Sept 2026), low ₹308.85 (30 Mar 2026).
- Previous close
- ₹505
- Market cap
- ₹414 Cr
- 52-week range
- ₹308.85 – ₹647.6
- One year
- +13.56%
- Price to earnings (FY ending Mar 2026)
- 29.57×
- Return on equity (FY ending Mar 2026)
- 11.67%
Overview
- Symbol
- NSE:QLL
- Sector
- Services
- Exchange
- NSE
- Currency
- INR
What Qualitek Labs Limited does
Based on the company's own presentations, annual report and earnings calls.
Qualitek Labs operates a network of testing, inspection and certification (TIC) laboratories across India that check the quality, safety and regulatory compliance of products for industries such as automotive, defence, electricals & electronics, pharmaceuticals, cosmetics, food & feed, minerals & metals, environment, infrastructure and medical devices. It earns revenue by performing paid testing, certification, inspection and consultancy services for government bodies, international and national corporate customers at its owned labs and at government labs it operates under public-private-partnership (PPP) arrangements. The company began in 2018 in Pune by acquiring an existing automotive testing lab and has since expanded its lab network and service scope both organically and through acquisitions (e.g. Interstellar Testing Centre for life-sciences testing).
Segments
- Automotive, Defence & Electricals/Electronics Testing
- Pharmaceuticals, Cosmetics & Ayurvedic/Herbal Testing
- Food & Cattle Feed Testing
- Minerals, Metals & Natural Resources Testing
- Environment, Water & Infrastructure/Building Materials Testing
- Inspection, Audit & Consultancy
- Laboratory network
- 16 labs — 10 owned + 6 operated in PPP mode (FY26)
- Employees
- 1200+ (incl. 450 scientists, 363 field staff, 180 support staff, 7 NABL assessors)
- Tests conducted per year
- >5 million
- Customers served
- 5000+ (governments, international & national companies)
- Collection centres
- 350+
- Lab infrastructure area
- 290,000 sq ft (up from 25,000 sq ft in 2018)
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 4 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +45% (quarter to mar 2026 against mar 2025).
| Line item | Mar 2023 | Sept 2023 | Mar 2024 | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 11 | 12 | 17 | 21 | 25 | 29 | 39 |
| Expenses | 8 | 9 | 12 | 16 | 18 | 22 | 29 |
| Operating profit | 3 | 4 | 4 | 4 | 7 | 7 | 10 |
| Operating margin | 27.6% | 30.0% | 25.8% | 21.4% | 29.0% | 22.6% | 25.9% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 1 | 1 | 1 | 2 |
| Depreciation | 0 | 1 | 1 | 1 | 2 | 2 | 3 |
| Profit before tax | 2 | 3 | 3 | 2 | 5 | 4 | 6 |
| Tax rate | 28.2% | 25.6% | 26.5% | 26.9% | 25.0% | 22.6% | 13.6% |
| Net profit | 2 | 2 | 2 | 2 | 4 | 3 | 5 |
| EPS (₹ per share) | 3.01 | 3.72 | 3.12 | 1.71 | 3.58 | 2.40 | 4.44 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 0 | 5 | 7 | 10 | 12 | 12 |
| Reserves | 1 | 4 | 25 | 76 | 129 | 134 |
| Borrowings | 17 | 23 | 12 | 29 | 47 | 66 |
| Other liabilities | 3 | 6 | 6 | 8 | 9 | 13 |
| Total liabilities | 22 | 40 | 51 | 123 | 197 | 225 |
| Fixed assets | 8 | 14 | 30 | 41 | 48 | 52 |
| Capital work in progress | 4 | 15 | 8 | 13 | 19 | 42 |
| Investments | 0 | 0 | 0 | 38 | 90 | 90 |
| Other assets | 10 | 11 | 13 | 31 | 40 | 40 |
| Total assets | 22 | 40 | 51 | 123 | 197 | 225 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 1 | -5 | 7 | 6 | 8 | 7 |
| Cash from investing | -6 | -2 | -17 | -12 | -67 | -39 |
| Cash from financing | 5 | 7 | 11 | 6 | 61 | 32 |
| Net cash flow | 0 | -0 | 0 | 0 | 1 | 0 |
| Free cash flow | -5 | -7 | -10 | -4 | -10 | -33 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 69 | 67 | 111 | 98 | 94 | 106 |
| Cash conversion cycle | 69 | 67 | 111 | 98 | 94 | 106 |
| Working capital days | -683 | -399 | -199 | 38 | -19 | -25 |
| Return on capital employed | — | 12.3% | 17.8% | 17.3% | 10.8% | 7.5% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
What the price assumes
- Growth the price implies
- 27.6% 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
Ownership
Who owns it
Promoters hold 56.46% as of Sept 2026; institutions cut 0.01 pts since Mar 2026.
- Promoters 56.46%
- Foreign institutions 1.54%
- Domestic institutions 0.15%
- Public 41.85%
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.
- newly disclosed 4.35% held
- newly disclosed 1.38% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Qualitek Labs Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| 56.46% | unchanged | |
| 4.35% | unchanged | |
| 4.35% | newly disclosed | |
| 4.31% | unchanged | |
| 3.04% | unchanged | |
| 2.36% | unchanged | |
| 1.38% | newly disclosed | |
| FPI fund | 1.20% | 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.
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