Kellton Tech Solutions Ltd.

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kellton.comBSE: 519602NSE: KELLTONTEC

Market Cap₹ 737 Cr.

Current Price

High / Low₹ 28 / 13

Stock P/E52.8

Book Value₹ 6

Price to Book5.96

Dividend Yield0.00 %

ROCE11.1 %

ROE8.1 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2017 • Digital Transformation: 85.7% • Enterprise Solutions: 9.0% • Consulting: 5.3%

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 0.92x)

CONS

Operating cash flow has been negative in recent years
Recent results are weak - TTM profit is down 50.1% versus prior year
Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of 7.0% over last 3 years
Company has a low return on capital employed of 10.5%

* 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

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
	44	42	46	53	47	49	47	46	53	51	50	55	58
	37	35	40	46	39	41	39	37	46	43	42	48	56
Operating Profit	7	7	6	7	8	8	8	9	7	8	8	7	2
OPM %	16.27%	16.63%	12.85%	13.94%	17.17%	17.00%	16.85%	18.83%	13.10%	15.29%	16.26%	13.32%	3.16%
	0	0	0	0	0	0	0	1	1	1	1	6	1
Interest	2	2	2	2	2	2	2	2	2	2	3	3	3
Depreciation	2	2	2	2	2	2	2	2	2	2	2	2	2
Profit before Tax	4	4	2	4	4	4	4	5	4	5	4	8	2
Tax %	20.41%	23.35%	31.38%	35.66%	19.23%	19.32%	18.27%	40.74%	23.48%	18.18%	17.09%	43.88%	25.41%
Net Profit	3	3	2	2	3	4	3	3	3	4	4	4	2
	0.32	0.58	0.17	0.24	0.35	0.07	0.07	0.07	0.28	0.07	0.07	0.08	0.03

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
	49	76	123	111	127	119	123	171	185	189	214
	37	63	105	98	104	95	100	148	157	156	189
Operating Profit	12	14	18	13	23	24	23	23	27	33	25
OPM %	23.95%	17.94%	14.40%	11.98%	17.79%	20.07%	18.51%	13.18%	14.82%	17.45%	11.73%
	0	2	2	4	4	3	1	2	1	2	8
Interest	2	2	4	4	5	6	4	5	8	9	11
Depreciation	1	2	2	2	6	6	5	6	7	8	7
Profit before Tax	9	12	14	12	15	15	15	13	14	18	20
Tax %	26.04%	33.96%	29.94%	26.70%	24.10%	27.85%	25.01%	29.10%	27.25%	25.43%	29.20%
Net Profit	7	8	10	8	11	11	11	9	10	14	14
EPS	0.00	0.00	0.00	0.00	0.00	1.14	1.16	0.95	1.02	1.39	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	21.83%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 8%
3 Years:: 15%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 4%
3 Years:: 7%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: 9%
5 Years:: 8%
3 Years:: 7%
Last Year:: 8%

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	23	24	48	48	48	48	48	48	49	49
	56	65	53	62	71	82	91	100	112	126
	9	56	58	55	44	35	42	44	56	80
Trade Payables	2	3	17	15	9	6	4	4	3	12
	12	14	16	27	41	28	20	24	36	38
Total Liabilities	102	161	192	207	213	199	205	221	256	305
	16	18	18	21	27	21	24	29	28	21
Capital Work in Progress	1	1	0	0	0	0	0	0	18	32
	41	59	70	74	87	87	87	87	87	87
	3	2	2	3	0	0	0	0	0	6
	0	0	0	0	0	0	0	0	59	78
Cash & Bank	2	7	8	8	10	9	3	7	7	8
	39	73	93	103	90	82	91	99	56	73
Total Assets	102	161	192	207	213	199	205	221	256	305

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
	4	18	7	26	22	12	3	23	14	-1
Cash from Investing	-17	-23	-12	-8	-16	-2	-3	-2	-25	-15
Cash from Financing	13	12	8	-13	-0	-8	0	-11	11	16
	-1	5	1	-0	2	-0	-6	4	0	1

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 (₹)	1.44	1.69	1.02	0.88	1.17	1.15	1.13	0.98	1.02	1.39
Book Value (₹)	16.91	18.73	10.54	11.44	12.38	13.52	14.45	15.41	16.51	17.93
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 (₹)	0.17	0.21	0.25	0.22	0.37	0.35	0.33	0.32	0.35	0.44
PROFITABILITY
Operating Margin %	24.64%	20.81%	16.42%	16.02%	20.72%	22.65%	19.35%	14.48%	14.82%	17.45%
Net Margin %	13.80%	10.43%	8.04%	7.60%	8.88%	9.26%	8.84%	5.55%	5.39%	7.16%
ROE %	10.83%	9.52%	10.38%	7.97%	9.81%	8.84%	8.07%	6.59%	6.43%	8.06%
ROCE %	14.08%	14.13%	14.61%	11.58%	13.95%	13.40%	10.82%	10.08%	10.37%	11.08%
	7.56%	6.06%	5.59%	4.24%	5.36%	5.36%	5.40%	4.45%	4.17%	4.82%
EFFICIENCY
Debtor Days	115	96	106	159	139	149	152	115	112	133
Inventory Days	14	14	7	8	4	0	0	0	0	11
Payable Days	261	891	103	268	196	188	690	4532	0	0
	-133	-781	11	-101	-53	-39	-538	-4417	112	144
FINANCIAL HEALTH
Debt to Equity (x)	0.11x	0.25x	0.30x	0.20x	0.25x	0.25x	0.30x	0.27x	0.37x	0.50x
Interest Coverage (x)	5.91x	6.99x	4.62x	3.89x	3.92x	3.56x	4.33x	3.45x	2.77x	3.04x
	2.02x	1.26x	1.25x	1.31x	1.36x	1.82x	2.08x	2.05x	1.64x	1.96x
GROWTH
Revenue Growth %	22.25%	56.83%	60.19%	-9.28%	14.05%	-5.95%	3.30%	38.70%	8.11%	2.28%
Operating Profit Growth %	26.21%	32.47%	26.37%	-11.50%	47.53%	2.81%	-11.73%	3.80%	15.05%	22.11%
Net Profit Growth %	9.21%	18.51%	23.57%	-14.28%	33.30%	-1.98%	-1.35%	-12.86%	4.90%	35.84%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.97%	35.69%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	19.06x	15.40x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.90x	5.96x
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	35.16x	32.26x

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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