Capillary Technologies India Ltd.

•

capillarytech.comBSE: 544614NSE: CAPILLARY

Market Cap₹ 3,660 Cr.

Current Price

High / Low₹ 799 / 438

Stock P/E69.9

Book Value₹ 122

Price to Book3.88

Dividend Yield0.00 %

ROCE6.5 %

ROE6.9 %

Face Value₹ 2

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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 is almost debt free
Operating margins have improved to 12.6% from -27.1%
Company has delivered good sales growth of 33.9% CAGR over last 5 years
Company comfortably covers its interest (10.4x coverage)

CONS

Recent results are weak - TTM profit is down 316.0% versus prior year
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -111.02x)
Company has a low return on equity of -4.7% over last 3 years
Company has a low return on capital employed of -0.9%
A large part of profit comes from other income (26.9% of PBT)

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

Peer comparison

Information TechnologyITIT - Software

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	TCS	2209.00	16.05	799235.53	4.98	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1035.00	13.87	420027.06	4.64	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1226.55	19.10	332844.59	4.40	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	167.50	12.55	165902.38	6.57	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1502.25	28.67	147240.59	3.39	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4403.10	24.97	130605.33	1.70	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	11623.00	29.66	101216.72	3.44	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5390.00	44.21	85027.25	0.74	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1846.90	46.57	81813.62	0.86	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2311.65	23.10	44125.99	2.68	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3360.55	27.01	35647.89	1.73	357.10	12.97	2940.10	11.47	27.70	18.65
12.	CAPILLARY	459.90	69.87	3660.29	0.00	-95.52	-1070.53	2566.44	1587.54	6.52	15.70

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026	Jun 2026
	159	152	180	184	191	257
	136	125	181	159	160	238
Operating Profit	23	28	-1	25	31	19
OPM %	14.44%	18.10%	-0.34%	13.57%	16.41%	7.44%
	2	3	1	4	32	39
Interest	2	2	1	1	1	1
Depreciation	13	16	17	19	20	20
Profit before Tax	10	12	1	8	42	-9
Tax %	-14.79%	-8.95%	-34.96%	1.60%	-2.10%	-11.22%
Net Profit	0	0	1	8	43	-10
	1.56	1.77	0.10	1.05	5.47	-1.20

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	171	223	255	525	598	735	812
	184	274	325	537	533	642	737
Operating Profit	-13	-51	-69	-12	65	93	75
OPM %	-7.38%	-22.88%	-27.11%	-2.25%	10.86%	12.64%	9.22%
	10	-15	22	10	14	39	76
Interest	2	9	11	18	8	5	5
Depreciation	18	29	37	56	60	75	76
Profit before Tax	-23	-103	-95	-75	11	51	43
Tax %	-1.38%	2.21%	6.67%	9.18%	-32.50%	-2.50%	0.03%
Net Profit	-23	-101	-89	-68	14	52	43
EPS	-4.77	-20.62	-16.58	-8.11	1.81	6.60	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 34%
3 Years:: 42%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: —
5 Years:: -61%
3 Years:: -5%
Last Year:: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	2	10	11	15	15	16
	10	80	87	457	516	962
	20	56	150	80	103	49
Trade Payables	33	66	59	73	51	74
	75	135	160	246	153	197
Total Liabilities	140	347	466	870	838	1,299
	27	215	224	301	301	460
	0	0	0	70	0	136
	0	57	80	146	161	181
Cash & Bank	39	29	46	181	214	359
	74	46	116	173	162	162
Total Assets	140	347	466	870	838	1,299

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-8	10	-22	97	-46	150
Cash from Investing	-14	-114	-94	-185	64	-614
Cash from Financing	28	96	137	218	4	271
	15	-10	23	130	21	-194

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Nov 2025	Dec 2025	Mar 2026	Jun 2026
	52.05	52.28	52.23	51.45
	22.30	3.93	3.43	3.34
	13.32	17.75	18.60	19.38
Government	0.00	0.00	0.00	0.00
	12.34	26.03	25.74	25.83

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Change in Management

2026-09-01 - Capillary Technologies India Limited has informed the Exchange about change in Management

2026-08-31

Shareholders meeting

2026-08-31 - Capillary Technologies India Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 28, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-28

Shareholders meeting

2026-08-28 - Capillary Technologies India Limited has informed the Exchange about Shareholders meeting

2026-08-25

Updates

2026-08-25 - Capillary Technologies India Limited has informed the Exchange regarding 'Clarification of transaction undertaken by Promoter Entity'.

2026-08-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - Capillary Technologies India Limited has informed the Exchange about Transcript

2026-08-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - Capillary Technologies India Limited has informed the Exchange about Transcript

2026-08-05

Copy of Newspaper Publication

2026-08-05 - Capillary Technologies India Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-04 - Capillary Technologies India Limited has informed the Exchange about

2026-08-04

Monitoring Agency Report

2026-08-04 - Monitoring agency report for the quarter ended June 30, 2026.

News

Recent coverage and analyst commentary for CAPILLARY

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Capillary Technologies India Ltd.

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Name

TCS

2209.00

16.05

799235.53

4.98

13420.00

4.69

72275.00

13.93

66.25

25.67

INFY

1035.00

13.87

420027.06

4.64

7775.00

12.29

48211.00

14.03

42.84

23.66

HCLTECH

1226.55

19.10

332844.59

4.40

4626.00

20.34

34579.00

13.94

31.20

19.87

WIPRO

167.50

12.55

165902.38

6.57

3356.30

0.59

24478.60

10.59

18.49

18.93

TECHM

1502.25

28.67

147240.59

3.39

1486.30

31.67

15711.90

17.68

23.04

17.43

LTM

4403.10

24.97

130605.33

1.70

1468.60

17.06

11608.00

17.96

30.25

17.75

OFSS

11623.00

29.66

101216.72

3.44

1415.50

120.52

3125.20

68.73

45.50

60.04

PERSISTENT

5390.00

44.21

85027.25

0.74

483.04

13.67

4303.23

29.09

35.09

16.19

COFORGE

1846.90

46.57

81813.62

0.86

531.70

49.19

5527.70

49.86

24.70

19.14

MPHASIS

2311.65

23.10

44125.99

2.68

489.51

10.82

4384.05

17.46

23.31

18.15

LTTS

3360.55

27.01

35647.89

1.73

357.10

12.97

2940.10

11.47

27.70

18.65

CAPILLARY

459.90

69.87

3660.29

0.00

-95.52

-1070.53

2566.44

1587.54

6.52

15.70

Dec 2024

Mar 2025

Jun 2025

Dec 2025

Mar 2026

Jun 2026

159

152

180

184

191

257

136

125

181

159

160

238

Operating Profit

-1

OPM %

14.44%

18.10%

-0.34%

13.57%

16.41%

7.44%

Interest

Depreciation

Profit before Tax

-9

Tax %

-14.79%

-8.95%

-34.96%

1.60%

-2.10%

-11.22%

Net Profit

-10

1.56

1.77

0.10

1.05

5.47

-1.20

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

171

223

255

525

598

735

812

184

274

325

537

533

642

737

Operating Profit

-13

-51

-69

-12

OPM %

-7.38%

-22.88%

-27.11%

-2.25%

10.86%

12.64%

9.22%

-15

Interest

Depreciation

Profit before Tax

-23

-103

-95

-75

Tax %

-1.38%

2.21%

6.67%

9.18%

-32.50%

-2.50%

0.03%

Net Profit

-23

-101

-89

-68

EPS

-4.77

-20.62

-16.58

-8.11

1.81

6.60

—

Dividend Payout %

0.00%

—

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

457

516

962

150

103

Trade Payables

135

160

246

153

197

Total Liabilities

140

347

466

870

838

1,299

215

224

301

460

136

146

161

181

Cash & Bank

181

214

359

116

173

162

Total Assets

140

347

466

870

838

1,299

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-8

-22

-46

150

Cash from Investing

-14

-114

-94

-185

-614

Cash from Financing

137

218

271

-10

130

-194

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Nov 2025

Dec 2025

Mar 2026

Jun 2026

52.05

52.28

52.23

51.45

22.30

3.93

3.43

3.34

13.32

17.75

18.60

19.38

Government

0.00

12.34

26.03

25.74

25.83

Capillary Technologies India Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Capillary Technologies India Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI