Blue Cloud Softech Solutions Ltd.

•

bluecloudsoftech.comBSE: -NSE: BLUECLOUDS

Market Cap₹ 1,835 Cr.

Current Price

High / Low₹ 24 / 20

Stock P/E43.6

Book Value₹ 14

Price to Book7.52

Dividend Yield0.00 %

ROCE54.8 %

ROE43.6 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Information Technology

Buy

IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.

Confidence

68%

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PROS

Company has a healthy return on capital (ROCE) of 27.6%
Company has a good return on equity (ROE) track record: 3 Years ROE 21.1%
Promoters have been increasing their shareholding - up 2.4pp over 2 years
Company comfortably covers its interest (69.4x coverage)
Company maintains a comfortable, low leverage position

CONS

Receivables are growing faster than sales - a possible quality concern
Operating cash flow has been negative in recent years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.03x)
Equity base is being diluted - shares outstanding up 295.2%
Operating margins have contracted to 10.3% from 57.4%
Stock is trading at 7.5x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Information TechnologyITIT - Software

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	TCS	2312.00	16.80	836501.83	4.76	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1128.00	15.11	457768.62	4.26	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1310.25	20.41	355557.97	4.12	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	176.60	13.23	174910.92	6.23	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1597.00	30.48	156527.36	3.19	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4516.00	25.61	133954.19	1.66	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	12050.00	30.75	104935.17	3.32	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5624.00	46.13	88718.60	0.71	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1963.70	49.51	86987.61	0.80	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2457.05	24.55	46899.54	2.52	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3498.50	28.11	37111.23	1.66	357.10	12.97	2940.10	11.47	27.70	18.65
12.	BLUECLOUDS	19.88	28.65	1835.09	0.00	179.52	24.74	2925.17	41.97	37.89	20.38

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	345	402	549	748	1,065	1,214	1,273	1,469	1,544	1,677	1,754	1,396	1,445
	334	391	537	703	957	1,103	1,152	1,319	1,363	1,493	1,589	1,258	1,293
Operating Profit	10	11	13	45	108	111	121	150	181	184	165	138	152
OPM %	3.04%	2.71%	2.28%	6.02%	10.10%	9.15%	9.52%	10.20%	11.70%	10.95%	9.42%	9.89%	10.51%
	0	0	0	0	0	0	0	2	0	3	2	0	0
Interest	0	0	0	0	0	0	0	0	2	2	2	2	3
Depreciation	0	0	0	1	2	3	3	3	6	6	19	42	45
Profit before Tax	11	11	13	45	108	111	121	152	181	187	168	138	152
Tax %	26.00%	29.69%	27.81%	27.85%	28.06%	22.89%	26.98%	24.23%	26.46%	27.03%	31.34%	60.85%	24.24%
Net Profit	8	8	9	32	77	86	89	115	133	136	115	54	115
	0.14	0.05	0.04	0.15	0.35	0.40	0.20	0.47	0.61	0.32	0.22	0.07	0.15

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	1	1	1	1	0	0	0	29	204	502	6,271
	1	1	1	1	0	0	0	28	196	450	5,633
Operating Profit	0	0	0	0	0	0	0	1	8	52	639
OPM %	5.43%	4.91%	6.56%	6.05%	12.74%	12.39%	11.91%	2.60%	4.15%	10.29%	10.18%
	0	0	0	0	0	0	0	0	0	0	6
Interest	0	0	0	0	0	0	0	0	0	1	9
Depreciation	0	0	0	0	0	0	0	0	1	2	111
Profit before Tax	0	0	0	0	0	0	0	1	8	49	645
Tax %	26.39%	22.14%	19.06%	49.72%	19.78%	13.73%	15.69%	25.96%	28.95%	25.44%	34.74%
Net Profit	0	0	0	0	0	0	0	1	5	37	421
EPS	0.00	0.00	0.00	0.00	0.01	0.01	0.00	0.11	0.25	0.84	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.04%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 94%
5 Years:: 449%
3 Years:: 1217%

COMPOUNDED PROFIT GROWTH

10 Years:: 119%
5 Years:: 449%
3 Years:: 603%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 7%
5 Years:: 13%
3 Years:: 21%
Last Year:: 44%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	11	12	12	5	5	5	11	12	44	44
	-7	-7	-7	-0	-0	-0	0	1	22	59
	0	0	0	0	0	0	0	0	4	16
Trade Payables	0	0	0	0	0	0	0	0	2	96
	0	0	0	0	0	0	0	1	4	17
Total Liabilities	3	5	5	5	5	5	12	14	76	232
	2	2	2	2	2	2	0	0	5	9
	0	0	0	0	0	0	0	0	48	48
	0	0	0	0	0	0	0	0	8	151
Cash & Bank	0	0	0	0	0	0	0	0	0	2
	1	3	3	3	3	3	12	14	15	21
Total Assets	3	5	5	5	5	5	12	14	76	232

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0	-1	0	0	0	0	-8	1	2	-3
Cash from Investing	-0	0	0	0	0	0	2	-1	-49	-7
Cash from Financing	-0	1	-0	-0	-0	-0	7	0	47	13
	-0	0	-0	0	-0	0	0	0	0	2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	0.02	0.02	0.02	0.01	0.00	0.00	0.02	0.11	0.25	0.84
Book Value (₹)	1.49	1.94	1.96	1.97	1.97	1.97	2.01	2.12	3.02	2.35
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02	0.00
Cash EPS (₹)	0.00	0.01	0.01	0.02	0.00	0.00	0.02	0.06	0.14	0.89
PROFITABILITY
Operating Margin %	5.56%	4.91%	6.56%	6.05%	12.74%	12.39%	57.41%	3.09%	4.15%	10.29%
Net Margin %	3.76%	2.94%	4.25%	2.25%	7.30%	8.01%	47.86%	2.29%	2.66%	7.30%
ROE %	1.17%	1.09%	1.14%	0.47%	0.16%	0.19%	1.33%	5.68%	13.89%	43.60%
ROCE %	1.60%	1.41%	1.42%	0.94%	0.21%	0.22%	1.53%	7.42%	20.46%	54.80%
	1.15%	1.07%	1.11%	0.46%	0.16%	0.19%	1.27%	5.18%	12.15%	23.83%
EFFICIENCY
Debtor Days	262	185	242	305	2836	2629	1487	15	8	58
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	9	17	40	30	0	0	0	0	0	0
	253	168	202	275	2836	2629	1487	15	8	58
FINANCIAL HEALTH
Debt to Equity (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.02x	0.02x	0.00x	0.14x
Interest Coverage (x)	103.98x	213.22x	251.04x	137.19x	17.00x	35.00x	625.50x	8980.00x	20.99x	69.42x
	20.06x	19.81x	20.79x	243.33x	218.98x	121.80x	26.29x	9.72x	3.70x	1.55x
GROWTH
Revenue Growth %	47.69%	49.58%	-13.38%	-21.62%	-89.74%	9.25%	100.36%	0.00%	603.74%	145.64%
Operating Profit Growth %	154.40%	32.23%	15.68%	-27.76%	-78.40%	6.25%	828.68%	611.56%	851.52%	506.72%
Net Profit Growth %	152.64%	16.83%	25.16%	-58.54%	-66.69%	19.99%	1096.59%	531.34%	716.26%	575.54%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	117.48%	237.70%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	105.71x	21.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	17.44x	7.52x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	134.17x	15.05x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	35.99	35.76	35.76	35.48	34.59	34.54	38.48	38.44	38.44
	22.93	22.94	22.96	22.94	22.94	22.94	13.29	13.29	13.28
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	41.08	41.30	41.28	41.58	42.47	42.52	48.23	48.27	48.27

Documents

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