Network People Services Technologies Ltd.

•

npstx.comBSE: 544396NSE: NPST

Market Cap₹ 3,593 Cr.

Current Price

High / Low₹ 2,209 / 847

Stock P/E80.9

Book Value₹ 216

Price to Book46.00

Dividend Yield0.00 %

ROCE73.8 %

ROE57.9 %

Face Value₹ 10

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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 delivered good profit growth of 113.2% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 63.7%
Company has a good return on equity (ROE) track record: 3 Years ROE 49.2%
Company has delivered good sales growth of 63.1% CAGR over last 5 years
Latest quarter profit grew 47.0% YoY, showing strong momentum

CONS

Receivables are growing faster than sales - a possible quality concern
Promoter holding has decreased over last 2 years: -7.1pp
Stock is trading at 46.0x its book value
Working capital days have increased from 121 to 187 days
Debtor days have increased from 3 to 35

* 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.	NPST	1722.15	80.44	3593.01	0.00	11.05	53.60	56.48	68.00	73.72	24.52

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Jun 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	10	24	31	44	59	67	21	26	34	47	53	61	50
	7	17	21	29	38	43	15	18	24	33	38	48	41
Operating Profit	3	8	10	15	21	24	7	9	10	14	14	13	9
OPM %	32.62%	30.68%	32.84%	33.86%	36.11%	35.32%	31.23%	33.46%	29.28%	29.44%	27.25%	21.41%	17.98%
	0	0	1	1	1	2	2	2	1	2	5	6	5
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	2	2	3	1	2	2	2	1	2	3	3	4
Profit before Tax	2	6	9	13	21	24	7	8	10	14	16	16	14
Tax %	23.63%	16.91%	25.49%	23.53%	25.77%	24.33%	24.59%	27.21%	25.62%	26.90%	27.65%	23.40%	24.55%
Net Profit	2	5	7	10	16	18	5	6	7	10	12	12	11
	2.80	7.98	3.37	5.18	8.11	9.38	2.50	3.10	3.70	5.03	5.96	6.22	5.07

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	17	18	15	15	19	41	128	173	210
	15	15	13	12	16	29	85	113	160
Operating Profit	2	3	2	3	3	12	43	60	50
OPM %	13.93%	16.65%	14.72%	19.31%	18.19%	29.51%	33.53%	34.88%	23.83%
	0	0	0	0	0	0	3	7	18
Interest	0	0	0	0	0	0	0	0	1
Depreciation	1	1	1	2	2	4	10	7	12
Profit before Tax	2	2	1	1	2	9	36	60	60
Tax %	27.91%	27.93%	26.65%	25.17%	24.46%	25.35%	24.40%	25.09%	25.61%
Net Profit	1	1	1	1	1	7	27	45	44
EPS	12.37	13.32	10.26	2.38	2.55	10.09	13.87	23.31	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.58%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 63%
3 Years:: 108%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 113%
3 Years:: 212%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 135%
3 Years:: 56%
1 Year:: -19%

RETURN ON EQUITY

10 Years:: —
5 Years:: 35%
3 Years:: 49%
Last Year:: 58%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1	1	1	4	6	6	19	19
	2	4	5	2	16	22	36	81
	0	0	0	1	0	0	1	7
Trade Payables	2	1	1	5	4	1	4	16
	3	3	3	4	4	9	17	19
Total Liabilities	8	9	10	16	30	39	77	143
	2	1	3	3	4	9	9	13
	0	0	0	0	0	0	4	5
	1	1	0	1	3	3	1	0
	0	0	0	0	0	0	1	32
Cash & Bank	1	0	0	0	1	19	57	90
	5	6	6	12	22	7	5	5
Total Assets	8	9	10	16	30	39	77	143

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	3	2	3	3	-7	26	51	29
Cash from Investing	-3	-2	-3	-3	-5	-6	-37	8
Cash from Financing	-0	-0	-0	0	13	0	-1	7
	-1	-1	0	0	1	18	13	44

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	12.37	13.32	10.26	2.38	2.31	10.09	13.87	23.31
Book Value (₹)	32.44	45.76	56.02	14.85	34.13	44.22	28.57	51.96
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.00
Cash EPS (₹)	1.47	1.82	1.40	1.92	1.69	5.24	18.82	26.86
PROFITABILITY
Operating Margin %	14.20%	16.72%	15.10%	19.73%	19.89%	30.34%	33.53%	34.88%
Net Margin %	7.11%	7.49%	6.84%	7.03%	7.78%	15.99%	21.08%	26.11%
ROE %	38.14%	34.06%	20.16%	17.42%	10.37%	25.76%	64.04%	57.91%
ROCE %	53.22%	47.39%	27.60%	23.39%	13.92%	34.41%	82.91%	73.77%
	14.88%	15.81%	11.22%	8.25%	6.45%	18.98%	46.42%	41.04%
EFFICIENCY
Debtor Days	57	54	57	114	117	26	3	35
Inventory Days	12	13	13	11	31	26	5	0
Payable Days	2454	487	168	704	-1359	369	177	7262
	-2384	-420	-99	-580	1507	-317	-169	-7227
FINANCIAL HEALTH
Debt to Equity (x)	0.00x	0.00x	0.00x	0.06x	0.00x	0.01x	0.00x	0.03x
Interest Coverage (x)	164.45x	378.16x	222.95x	28.79x	37.26x	840.93x	111.93x	176.87x
	1.07x	1.22x	1.01x	1.01x	2.55x	2.74x	3.27x	3.45x
GROWTH
Revenue Growth %	0.00%	2.27%	-15.66%	1.33%	26.02%	112.86%	212.63%	35.77%
Operating Profit Growth %	0.00%	20.39%	-23.82%	32.36%	27.06%	224.75%	267.46%	48.58%
Net Profit Growth %	0.00%	7.66%	-23.00%	4.28%	39.31%	337.64%	312.21%	68.16%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	37.40%	68.13%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	82.12x	102.53x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	39.86x	46.00x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	47.28x	67.32x

Shareholding Pattern

Numbers in percentages

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	67.55	67.55	67.55	67.54	67.56	60.29	60.27	60.52	60.48
	0.02	0.19	0.06	0.03	0.03	0.11	0.15	0.12	0.08
	5.82	0.00	0.05	0.29	0.58	9.96	9.95	10.02	10.02
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	26.61	32.26	32.34	32.15	31.84	29.65	29.64	29.33	29.42

Documents

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

2026-09-04

Reply to Clarification- Financial results

2026-09-04 - The Exchange had sought clarification from Network People Services Technologies Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.

2026-09-04

Shareholders meeting

2026-09-04 - Network People Services Technologies Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026

2026-09-01

Clarification - Financial Results

2026-09-01 - The Exchange has sought clarification from Network People Services Technologies Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.

2026-08-31

Spurt in Volume

2026-08-31 - Significant increase in volume has been observed in Network People Services Technologies Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Network People Services Technologies Limited has submitted their response.

2026-08-29

Rumour Verification - Regulation 30(11)

2026-08-29 - Network People Services Technologies Limited has informed the Exchange about Rumour Verification - Regulation 30(11)

2026-08-26

Spurt in Volume

2026-08-26 - Significant increase in volume has been observed in Network People Services Technologies Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.

2026-08-25

Resignation of Director/KMP/SMP

2026-08-25 - Network People Services Technologies Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-25

Resignation

2026-08-25 - Network People Services Technologies Limited has informed the Exchange regarding Resignation of Ms Savita Vashist as Executive Director of the company w.e.f. August 24, 2026.

2026-08-25

Change in Director(s)

2026-08-25 - Network People Services Technologies Limited has informed the Exchange regarding Change in Director(s) of the company.

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