SIGMA
Sigma Solve financials
- Market cap
- ₹461 Cr
- Sector
- Information Technology
Quarterly results
Q1 FY27: revenue up 9.5%, net profit up 160.0% 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 | 17 | 20 | 24 | 21 | 26 +53% | 25 +25% | 25 +4% | 23 +10% |
| EBITDA | 5 | 6 | 10 | 5 | 8 +60% | 8 +33% | 8 −20% | 8 +60% |
| Net profit | 4 | 4 | 7 | 5 | 7 +75% | 7 +75% | 5 −29% | 13 +160% |
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 −90.6% 1Y
1Y: ₹469.05 on 10 Sept 2025 → ₹44.19. High ₹475.7 (11 Sept 2025), low ₹36.33 (30 Mar 2026).
Financials, as filed
Revenue grew 20.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 29.9%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹56 Cr | ₹64 Cr | ₹77 Cr | ₹97 Cr |
| Operating profit | ₹24 Cr | ₹24 Cr | ₹26 Cr | ₹29 Cr |
| Operating margin | 42.1% | 37.5% | 33.8% | 29.9% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹18 Cr | ₹19 Cr | ₹19 Cr | ₹24 Cr |
| Net margin | 33.0% | 29.7% | 24.7% | 24.7% |
| Cash from operations | ₹20 Cr | ₹7 Cr | ₹18 Cr | ₹30 Cr |
| Free cash flow | ₹13 Cr | ₹6 Cr | ₹18 Cr | ₹30 Cr |
| ROCE | 52.0% | 52.0% | 59.0% | 48.0% |
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 | ₹4 Cr | ₹4 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr |
| Reserves | ₹15 Cr | ₹19 Cr | ₹26 Cr | ₹20 Cr | ₹52 Cr | ₹67 Cr |
| Borrowings | ₹1 Cr | ₹0 Cr | ₹4 Cr | ₹5 Cr | ₹3 Cr | ₹2 Cr |
| Other liabilities | ₹1 Cr | ₹13 Cr | ₹24 Cr | ₹5 Cr | ₹12 Cr | ₹10 Cr |
| Total liabilities | ₹22 Cr | ₹37 Cr | ₹64 Cr | ₹40 Cr | ₹77 Cr | ₹89 Cr |
| Fixed assets | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹8 Cr | ₹7 Cr | ₹6 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹7 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹6 Cr | ₹21 Cr | ₹44 Cr | ₹7 Cr | ₹39 Cr | ₹39 Cr |
| Other assets | ₹15 Cr | ₹15 Cr | ₹13 Cr | ₹25 Cr | ₹32 Cr | ₹44 Cr |
| Total assets | ₹22 Cr | ₹37 Cr | ₹64 Cr | ₹40 Cr | ₹77 Cr | ₹89 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
The ownership split has held steady since Jun 2025. The shareholder count grew 32% to 18,679.
- Promoters
- 73.2%
- DIIs
- 0.0%
- Public
- 26.8%
Since Jun 2025
- Public −0.03 pp
- DIIs +0.02 pp
- Promoters −0.01 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 73.2%, Public 26.8%.Dec '23: Promoters 73.2%, Public 26.8%.Mar '24: Promoters 73.2%, Public 26.8%.Jun '24: Promoters 73.2%, Public 26.8%.Sep '24: Promoters 73.2%, Public 26.8%.Dec '24: Promoters 73.2%, Public 26.8%.Mar '25: Promoters 73.2%, Public 26.8%.Jun '25: Promoters 73.2%, Public 26.8%.Sep '25: Promoters 73.2%, Public 26.8%.Dec '25: Promoters 73.2%, FIIs 0.0%, Public 26.8%.Mar '26: Promoters 73.2%, Public 26.8%.Jun '26: Promoters 73.2%, DIIs 0.0%, Public 26.8%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Sigma Solve above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Prakash Ratilal Parikh | 20.80% | unchanged |
| Kalpana Prakashbhai Parikh | 20.78% | unchanged |
| Biren Harshad Zaverchand | 15.81% | unchanged |
| Pujan Biren Zaverchand | 15.81% | unchanged |
| Binaben Janakbhai Shah | 4.12% | unchanged |
| Angat Godiwala | 2.41% | unchanged |
| Divyaprabhaben Pravinbhai Shah | 1.33% | unchanged |
| Shivang Rajulbhai Chokshi | 0.00% | unchanged |
| Pintu Nitin Patel | 0.00% | unchanged |
| Darshanaben Rajulbhai Chokshi | 0.00% | unchanged |
| Deepak Navinchandra Choksi | 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
ExpensiveTo justify its price of ₹44, this stock must grow earnings at 13% every year for 7 years. Our analysis caps realistic growth at ~11%. At that growth it is worth ₹38 — downside of 14%.
- Growth the price implies
- 13.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 2.8% a year
- net profit, FY23–FY26 · EPS 10.6%
- The gap
- 0.0 pp
- -14% downside if it only repeats history
Learn to analyse Sigma Solve
Guides on how to read this kind of business and the numbers that matter.