Reliable Data Services Ltd.

•

rdspl.comBSE: 544207NSE: RELIABLE

Market Cap₹ 146 Cr.

Current Price

High / Low₹ 175 / 105

Stock P/E32.5

Book Value₹ 48

Price to Book1.68

Dividend Yield0.00 %

ROCE17.5 %

ROE18.3 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • NON BFSI SEGMENT: 68.1% • BFSI SEGMENT: 31.9%

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

Company has delivered good profit growth of 27.1% CAGR over last 5 years
Company has delivered good sales growth of 22.5% CAGR over last 5 years
Attractively priced for its growth - PEG of 0.6
Company has a consistent dividend-paying track record

CONS

Recent results are weak - TTM profit is down 48.7% versus prior year
A large part of profit comes from other income (51.0% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.37x)
Recurring exceptional / one-off items are inflating headline profit
Total debt has risen sharply - up 32.2% year on year

* 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.	RELIABLE	141.70	16.14	146.23	0.00	23.90	1320.93	575.66	1359.07	18.53	7.92

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
	9	10	12	21	11	14	21	34	28	49	12	35	42
	7	9	11	18	9	12	17	32	26	45	9	33	40
Operating Profit	2	2	2	3	2	2	4	2	3	4	3	2	2
OPM %	20.20%	15.28%	13.87%	14.91%	20.49%	14.61%	18.82%	6.76%	9.54%	8.14%	21.91%	5.89%	5.21%
	0	0	0	-0	0	0	1	4	0	0	0	0	0
Interest	0	0	1	1	1	1	1	1	1	1	1	1	1
Depreciation	1	0	0	1	1	-0	1	1	1	1	1	0	0
Profit before Tax	1	1	1	1	1	1	3	4	1	2	1	1	2
Tax %	27.71%	23.33%	29.59%	-7.76%	21.98%	9.52%	24.28%	18.35%	26.40%	25.89%	25.90%	55.88%	25.99%
Net Profit	1	1	1	1	1	1	2	3	1	1	1	0	2
	0.58	0.67	0.67	1.21	0.68	1.10	2.30	2.97	0.90	1.41	1.00	0.43	1.52

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
	19	20	26	27	29	28	34	43	52	80	138
	16	18	21	23	25	25	29	38	44	69	127
Operating Profit	2	3	4	4	4	3	5	5	8	10	11
OPM %	13.09%	13.25%	16.70%	16.13%	13.87%	10.60%	13.47%	12.15%	15.60%	13.11%	7.88%
	0	0	0	-0	-0	0	-0	1	-0	5	0
Interest	0	1	1	1	1	1	1	2	2	3	3
Depreciation	1	0	0	0	0	0	0	1	2	3	2
Profit before Tax	2	2	3	3	3	2	3	3	4	9	7
Tax %	30.38%	33.02%	28.36%	26.25%	22.10%	27.41%	27.77%	22.34%	15.28%	19.57%	30.63%
Net Profit	1	1	2	2	2	1	2	3	3	7	5
EPS	0.00	0.00	0.00	0.00	0.00	1.41	2.09	2.56	3.17	7.06	—
Dividend Payout %	0.00%	0.00%	18.52%	35.60%	0.00%	1.42%	2.39%	0.78%	0.95%	0.57%	—

COMPOUNDED SALES GROWTH

10 Years:: 16%
5 Years:: 22%
3 Years:: 33%

COMPOUNDED PROFIT GROWTH

10 Years:: 18%
5 Years:: 27%
3 Years:: 50%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 37%
3 Years:: 31%
1 Year:: -5%

RETURN ON EQUITY

10 Years:: 11%
5 Years:: 10%
3 Years:: 12%
Last Year:: 18%

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	1	1	9	9	10	10	10	10	10	10
	7	8	17	19	19	18	20	22	26	33
	5	6	5	6	5	8	11	13	24	34
Trade Payables	1	0	0	1	4	4	1	10	2	5
	2	3	5	5	6	5	7	15	9	6
Total Liabilities	16	18	35	39	44	45	49	71	71	90
	1	1	3	1	1	1	1	8	7	10
Capital Work in Progress	0	0	0	0	0	8	9	8	8	8
	4	9	18	15	15	11	10	10	14	13
	0	0	0	0	0	0	0	0	33	43
Cash & Bank	1	0	0	0	1	1	1	0	1	1
	10	8	15	22	28	25	29	44	8	13
Total Assets	16	18	35	39	44	45	49	71	71	90

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
	1	4	-7	3	1	1	0	6	-8	7
Cash from Investing	-1	-6	-11	-2	-0	0	-3	-5	-1	-12
Cash from Financing	0	1	19	-0	0	2	4	-0	9	5
	-0	-1	0	0	0	0	-0	-0	0	-0

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 (₹)	10.65	11.07	2.70	2.81	2.13	1.41	2.09	2.56	3.17	7.06
Book Value (₹)	78.86	86.59	29.70	31.79	28.23	27.14	29.01	31.52	34.71	42.27
Dividend per Share (₹)	0.00	0.00	0.50	1.00	0.00	0.02	0.05	0.02	0.03	0.04
Cash EPS (₹)	2.28	2.08	2.63	2.72	2.38	1.55	2.25	3.60	5.39	9.76
PROFITABILITY
Operating Margin %	13.81%	13.63%	17.33%	16.20%	14.09%	11.19%	13.66%	14.71%	15.60%	13.11%
Net Margin %	5.65%	5.42%	9.09%	8.79%	7.59%	5.20%	6.42%	6.14%	6.26%	9.12%
ROE %	14.66%	13.38%	13.57%	9.14%	7.79%	5.08%	7.45%	8.46%	9.58%	18.33%
ROCE %	16.66%	16.86%	17.52%	12.43%	11.05%	8.11%	10.78%	11.26%	10.69%	17.48%
	6.96%	6.56%	8.68%	6.53%	5.33%	3.27%	4.58%	4.40%	4.62%	9.08%
EFFICIENCY
Debtor Days	82	92	113	125	133	178	163	157	193	176
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0
	82	92	113	125	133	178	163	157	193	176
FINANCIAL HEALTH
Debt to Equity (x)	0.65x	0.77x	0.20x	0.21x	0.18x	0.30x	0.46x	0.47x	0.72x	0.78x
Interest Coverage (x)	4.08x	3.23x	5.07x	5.77x	4.14x	3.28x	3.22x	2.93x	2.94x	3.88x
	1.56x	0.92x	2.48x	2.32x	2.09x	1.74x	1.76x	1.23x	1.79x	1.87x
GROWTH
Revenue Growth %	1.47%	8.31%	24.92%	7.62%	5.46%	-3.62%	20.35%	28.07%	21.41%	52.75%
Operating Profit Growth %	-13.40%	6.86%	58.89%	0.55%	-8.28%	-23.46%	46.92%	37.95%	30.19%	83.02%
Net Profit Growth %	-23.78%	3.93%	109.66%	4.07%	-8.99%	-33.97%	48.60%	22.44%	23.91%	122.48%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	23.91%	122.48%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	20.67x	10.05x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.89x	1.68x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	0.06%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	11.25x	7.07x

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.77	71.77	71.77	71.77	71.77	67.79	67.79	67.79
	0.08	0.08	0.05	0.05	0.00	0.32	0.45	0.33
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
	28.15	28.15	28.18	28.18	28.23	31.89	31.76	31.87

Documents

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

2026-08-17

Copy of Newspaper Publication

2026-08-17 - Reliable Data Services Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

Outcome of Board Meeting

2026-08-14 - Reliable Data Services Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-06

Disclosure under SEBI Takeover Regulations

2026-07-06 - Reliable Data Services Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-07-06

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-06 - Reliable Data Services Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-06-26

Trading Window

2026-06-26 - Reliable Data Services Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-06-25

Reply to Clarification- Financial results

2026-06-25 - The Exchange had sought clarification from Reliable Data Services Limited for the quarter ended 31-Mar-2025 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.

2026-06-03

Updates

2026-06-03 - Reliable Data Services Limited has informed the Exchange regarding 'Boardcommnentsonfineleviedbythexchange'.

2026-06-01

Copy of Newspaper Publication

2026-06-01 - Reliable Data Services Limited has informed the Exchange about Copy of Newspaper Publication

2026-05-30

Outcome of Board Meeting

2026-05-30 - Reliable Data Services Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.

News

Recent coverage and analyst commentary for RELIABLE

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Reliable Data Services Ltd.

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Free 5nance Account

Name

TCS

2312.00

16.80

836501.83

4.76

13420.00

4.69

72275.00

13.93

66.25

25.67

INFY

1128.00

15.11

457768.62

4.26

7775.00

12.29

48211.00

14.03

42.84

23.66

HCLTECH

1310.25

20.41

355557.97

4.12

4626.00

20.34

34579.00

13.94

31.20

19.87

WIPRO

176.60

13.23

174910.92

6.23

3356.30

0.59

24478.60

10.59

18.49

18.93

TECHM

1597.00

30.48

156527.36

3.19

1486.30

31.67

15711.90

17.68

23.04

17.43

LTM

4516.00

25.61

133954.19

1.66

1468.60

17.06

11608.00

17.96

30.25

17.75

OFSS

12050.00

30.75

104935.17

3.32

1415.50

120.52

3125.20

68.73

45.50

60.04

PERSISTENT

5624.00

46.13

88718.60

0.71

483.04

13.67

4303.23

29.09

35.09

16.19

COFORGE

1963.70

49.51

86987.61

0.80

531.70

49.19

5527.70

49.86

24.70

19.14

MPHASIS

2457.05

24.55

46899.54

2.52

489.51

10.82

4384.05

17.46

23.31

18.15

LTTS

3498.50

28.11

37111.23

1.66

357.10

12.97

2940.10

11.47

27.70

18.65

RELIABLE

141.70

16.14

146.23

0.00

23.90

1320.93

575.66

1359.07

18.53

7.92

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

Operating Profit

OPM %

20.20%

15.28%

13.87%

14.91%

20.49%

14.61%

18.82%

6.76%

9.54%

8.14%

21.91%

5.89%

5.21%

-0

Interest

Depreciation

-0

Profit before Tax

Tax %

27.71%

23.33%

29.59%

-7.76%

21.98%

9.52%

24.28%

18.35%

26.40%

25.89%

25.90%

55.88%

25.99%

Net Profit

0.58

0.67

1.21

0.68

1.10

2.30

2.97

0.90

1.41

1.00

0.43

1.52

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

138

127

Operating Profit

OPM %

13.09%

13.25%

16.70%

16.13%

13.87%

10.60%

13.47%

12.15%

15.60%

13.11%

7.88%

-0

Interest

Depreciation

Profit before Tax

Tax %

30.38%

33.02%

28.36%

26.25%

22.10%

27.41%

27.77%

22.34%

15.28%

19.57%

30.63%

Net Profit

EPS

0.00

1.41

2.09

2.56

3.17

7.06

—

Dividend Payout %

0.00%

18.52%

35.60%

0.00%

1.42%

2.39%

0.78%

0.95%

0.57%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Trade Payables

Total Liabilities

Capital Work in Progress

Cash & Bank

Total Assets

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-7

-8

Cash from Investing

-1

-6

-11

-2

-0

-3

-5

-1

-12

Cash from Financing

-0

-1

-0

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

10.65

11.07

2.70

2.81

2.13

1.41

2.09

2.56

3.17

7.06

Book Value (₹)

78.86

86.59

29.70

31.79

28.23

27.14

29.01

31.52

34.71

42.27

Dividend per Share (₹)

0.00

0.50

1.00

0.00

0.02

0.05

0.02

0.03

0.04

Cash EPS (₹)

2.28

2.08

2.63

2.72

2.38

1.55

2.25

3.60

5.39

9.76

PROFITABILITY

Operating Margin %

13.81%

13.63%

17.33%

16.20%

14.09%

11.19%

13.66%

14.71%

15.60%

13.11%

Net Margin %

5.65%

5.42%

9.09%

8.79%

7.59%

5.20%

6.42%

6.14%

6.26%

9.12%

ROE %

14.66%

13.38%

13.57%

9.14%

7.79%

5.08%

7.45%

8.46%

9.58%

18.33%

ROCE %

16.66%

16.86%

17.52%

12.43%

11.05%

8.11%

10.78%

11.26%

10.69%

17.48%

6.96%

6.56%

8.68%

6.53%

5.33%

3.27%

4.58%

4.40%

4.62%

9.08%

EFFICIENCY

Debtor Days

113

125

133

178

163

157

193

176

Inventory Days

Payable Days

113

125

133

178

163

157

193

176

FINANCIAL HEALTH

Debt to Equity (x)

0.65x

0.77x

0.20x

0.21x

0.18x

0.30x

0.46x

0.47x

0.72x

0.78x

Interest Coverage (x)

4.08x

3.23x

5.07x

5.77x

4.14x

3.28x

3.22x

2.93x

2.94x

3.88x

1.56x

0.92x

2.48x

2.32x

2.09x

1.74x

1.76x

1.23x

1.79x

1.87x

GROWTH

Revenue Growth %

1.47%

8.31%

24.92%

7.62%

5.46%

-3.62%

20.35%

28.07%

21.41%

52.75%

Operating Profit Growth %

-13.40%

6.86%

58.89%

0.55%

-8.28%

-23.46%

46.92%

37.95%

30.19%

83.02%

Net Profit Growth %

-23.78%

3.93%

109.66%

4.07%

-8.99%

-33.97%

48.60%

22.44%

23.91%

122.48%

0.00%

23.91%

122.48%

VALUATION

P/E (x)

0.00x

20.67x

10.05x

P/B (x)

0.00x

1.89x

1.68x

Dividend Yield %

0.00%

0.05%

0.06%

0.00x

11.25x

7.07x

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

71.77

67.79

0.08

0.05

0.00

0.32

0.45

0.33

DIIs

0.00

Government

0.00

28.15

28.18

28.23

31.89

31.76

31.87

Reliable Data Services Ltd.

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Quarterly Results

Profit & Loss

Balance Sheet

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Reliable Data Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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