Kellton Tech Solutions Ltd.

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kellton.comBSE: 519602NSE: KELLTONTEC

Market Cap₹ 737 Cr.

Current Price

High / Low₹ 28 / 13

Stock P/E8.1

Book Value₹ 16

Price to Book1.96

Dividend Yield0.00 %

ROCE17.3 %

ROE16.4 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Digital Transformation: 82.4% • Enterprise Solutions: 13.9% • Consulting: 3.6%

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%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 5.10x)
Company maintains a comfortable, low leverage position
Company converts assets efficiently - asset turnover of 1.5x

CONS

Company has a low return on equity of 0.7% over last 3 years
Company has a low return on capital employed of 5.0%
Company has delivered a poor profit growth of 2.5% over past five years
Recurring exceptional / one-off items are inflating headline profit
Effective tax rate is unusually low at 13.8% - earnings may be flattered
Company has delivered a poor sales growth of 7.3% over past five years

* 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	2300.90	16.72	832485.76	4.78	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1130.00	15.14	458580.27	4.25	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1294.00	20.15	351148.26	4.17	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	176.80	13.25	175109.01	6.22	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1592.00	30.38	156037.29	3.20	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4550.00	25.80	134962.70	1.65	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	12067.35	30.79	105086.26	3.31	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5655.00	46.38	89207.62	0.71	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1967.45	49.61	87153.72	0.80	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2425.35	24.23	46294.46	2.56	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3492.45	28.07	37047.05	1.66	3571.00	1029.71	29401.00	1014.73	27.70	18.65
12.	KELLTONTEC	13.86	8.06	736.53	0.00	22.32	-1.47	315.62	6.82	17.31	10.90

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	249	241	245	248	262	271	279	286	295	300	308	314	316
	222	214	227	216	230	238	245	257	260	263	269	289	291
Operating Profit	27	26	18	32	32	32	34	29	35	37	39	25	25
OPM %	11.03%	10.97%	7.50%	12.98%	12.20%	12.00%	12.18%	10.22%	11.88%	12.20%	12.61%	7.96%	7.93%
	0	0	0	1	0	0	0	1	1	1	1	6	1
Interest	4	4	5	5	5	5	5	6	5	5	6	6	6
Depreciation	4	4	4	4	4	4	4	4	4	4	4	4	4
Profit before Tax	20	19	10	24	23	24	25	21	27	29	30	21	26
Tax %	21.17%	11.79%	14.69%	0.66%	14.68%	16.41%	16.59%	6.53%	15.96%	17.19%	16.19%	6.96%	13.12%
Net Profit	0	0	0	0	20	20	21	19	23	24	25	20	22
	1.54	1.78	0.76	2.49	2.05	0.41	0.43	0.38	2.32	0.43	0.48	0.34	0.42

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	359	615	783	814	771	776	843	917	983	1,098	1,237
	309	533	665	696	658	668	738	824	878	970	1,112
Operating Profit	49	82	118	118	112	108	105	93	104	128	125
OPM %	13.76%	13.33%	15.11%	14.48%	14.58%	13.90%	12.43%	10.19%	10.63%	11.63%	10.14%
	1	4	3	5	4	5	1	-182	2	2	8
Interest	9	10	16	19	16	13	12	11	18	20	22
Depreciation	2	4	5	7	13	13	11	14	16	17	15
Profit before Tax	39	71	99	97	87	87	83	-114	72	92	106
Tax %	20.77%	25.46%	31.24%	20.98%	19.00%	17.99%	15.59%	-10.97%	10.98%	13.81%	13.90%
Net Profit	31	53	68	77	71	71	70	-127	64	80	91
EPS	0.00	0.00	0.00	0.00	0.00	7.33	7.39	-13.53	6.57	8.18	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	3.39%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 7%
3 Years:: 9%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 2%
3 Years:: 4%

STOCK PRICE CAGR

10 Years:: 1%
5 Years:: 8%
3 Years:: -8%
1 Year:: -45%

RETURN ON EQUITY

10 Years:: 18%
5 Years:: 7%
3 Years:: 1%
Last Year:: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	23	24	48	48	48	48	48	48	49	49
	102	153	210	279	366	370	429	323	392	484
	83	163	160	127	153	107	123	148	138	163
Trade Payables	18	21	47	36	39	16	15	20	18	22
	83	91	115	108	112	91	57	57	63	71
Total Liabilities	309	450	581	599	718	632	672	596	660	789
	118	222	228	220	278	206	199	64	69	63
Capital Work in Progress	1	1	0	0	0	0	0	0	18	32
	3	2	2	3	0	0	0	0	0	6
	0	0	0	0	0	0	0	0	269	326
Cash & Bank	8	16	21	26	30	39	25	30	28	28
	179	209	330	351	411	387	448	503	276	334
Total Assets	309	450	581	599	718	632	672	596	660	789

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	19	51	68	87	70	101	28	45	56	6
Cash from Investing	-29	-46	-40	-39	-39	32	-4	-72	-40	-25
Cash from Financing	7	12	-10	-15	-13	-102	-11	53	-19	19
	-9	8	4	5	4	9	-14	5	-2	-0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	6.61	11.26	7.10	7.98	7.32	7.38	7.30	-13.14	6.57	8.18
Book Value (₹)	26.83	37.35	26.82	33.96	42.96	43.38	49.43	38.43	45.28	54.63
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.25	0.00	0.00	0.00	0.00
Cash EPS (₹)	0.71	1.22	1.53	1.73	1.73	1.74	1.69	-2.33	1.64	1.98
PROFITABILITY
Operating Margin %	14.04%	13.94%	15.46%	15.10%	15.09%	14.50%	12.57%	10.43%	10.63%	11.63%
Net Margin %	8.64%	8.63%	8.73%	9.45%	9.15%	9.17%	8.36%	-13.82%	6.51%	7.26%
ROE %	32.46%	35.17%	31.48%	26.27%	19.03%	17.09%	15.74%	-29.91%	15.77%	16.38%
ROCE %	25.71%	31.98%	34.49%	28.14%	21.02%	18.89%	17.04%	-18.43%	16.22%	17.31%
	11.35%	13.97%	13.26%	13.04%	10.71%	10.53%	10.81%	-19.99%	10.19%	11.00%
EFFICIENCY
Debtor Days	101	80	78	82	91	96	93	95	98	99
Inventory Days	2	2	1	1	1	0	0	0	0	2
Payable Days	2158	6767	350	704	606	692	2321	0	0	0
	-2055	-6685	-271	-620	-514	-595	-2228	95	98	101
FINANCIAL HEALTH
Debt to Equity (x)	0.69x	0.68x	0.44x	0.38x	0.28x	0.24x	0.24x	0.40x	0.33x	0.33x
Interest Coverage (x)	5.46x	7.92x	7.11x	6.16x	6.30x	7.75x	8.22x	-8.99x	4.92x	5.56x
	1.33x	1.38x	1.52x	1.72x	1.98x	2.51x	2.96x	3.15x	3.36x	3.66x
GROWTH
Revenue Growth %	50.77%	71.40%	27.44%	3.91%	-5.34%	0.64%	8.64%	8.86%	7.15%	11.69%
Operating Profit Growth %	46.84%	70.21%	41.33%	1.48%	-5.37%	-3.30%	-5.82%	-9.66%	11.05%	22.05%
Net Profit Growth %	40.31%	71.32%	28.89%	12.50%	-8.33%	0.84%	-0.95%	-280.01%	150.48%	24.55%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	150.03%	24.40%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.96x	2.61x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.15x	1.96x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	10.05x	9.18x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	51.67	40.82	40.82	40.82	40.78	38.70	37.67	37.67
	0.46	1.32	1.43	1.07	1.27	0.96	1.21	1.04
DIIs	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
Public	47.86	57.85	57.74	58.11	57.95	60.34	61.11	61.29

Documents

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

2026-09-05

Outcome of Board Meeting

2026-09-05 - Kellton Tech Solutions Limited has informed the Exchange regarding Outcome of Board Meeting held on September 05, 2026.

2026-08-24

Press Release

2026-08-24 - Kellton Tech Solutions Limited has informed the Exchange regarding a press release dated August 24, 2026, titled "Kellton Selected to Build AI-Driven Enterprise Claims Management Platform for Leading U.S. Healthcare Company".

2026-08-18

Press Release

2026-08-18 - Kellton Tech Solutions Limited has informed the Exchange regarding a press release dated August 18, 2026, titled "Asian Development Bank Recognises Kellton with Excellence Award for Technology Partnership".

2026-08-06

General Updates

2026-08-06 - Kellton Tech Solutions Limited has informed the Exchange about Newspaper Publication

2026-07-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-27 - Kellton Tech Solutions Limited has informed the Exchange about Transcript

2026-07-27

General Updates

2026-07-27 - Kellton Tech Solutions Limited has informed the Exchange about Newspaper Publication

2026-07-25

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-25 - Kellton Tech Solutions Limited has informed the Exchange about Link of Recording

2026-07-23

Investor Presentation

2026-07-23 - Kellton Tech Solutions Limited has informed the Exchange about Investor Presentation

2026-07-23

Press Release

2026-07-23 - Kellton Tech Solutions Limited has informed the Exchange regarding a press release dated July 23, 2026, titled "Press Release on Financial Results for Quarter Ended June 30, 2026".

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