TechNVision Ventures Ltd.

•

technvision.comBSE: 501421NSE: TECHNVISN

Market Cap₹ 3,200 Cr.

Current Price

High / Low₹ 6,198 / 3,223

Stock P/E1064.3

Book Value₹ 17

Price to Book547.10

Dividend Yield0.00 %

ROCE9.8 %

ROE1.6 %

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 a healthy return on capital (ROCE) of 43.5%
Company has delivered good sales growth of 24.6% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.79x)
Company has consistently been profitable over the last 5 years
Working capital cycle has improved - days down from 29 to 10
Company generates healthy free cash flow

CONS

A large part of profit comes from other income (145.0% of PBT)
Company has a low return on equity of 0.5% over last 3 years
Interest coverage is weak at 1.5x - earnings barely cover interest
Stock is trading at 547.1x its book value
Operating margins have contracted to 1.7% from 12.3%

* 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	3571.00	1029.71	29401.00	1014.73	27.70	18.65
12.	TECHNVISN	5100.00	1064.27	3200.25	0.00	2.82	9627.59	73.58	29.95	9.84	5.17

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
	31	50	60	52	52	55	81	39	57	71	74	67	74
	38	47	49	42	49	57	79	39	55	69	70	70	71
Operating Profit	-6	3	10	9	3	-2	2	1	1	2	5	-3	2
OPM %	-20.54%	6.77%	17.46%	18.19%	6.11%	-3.43%	2.06%	1.68%	2.28%	3.23%	6.39%	-4.05%	3.39%
	-0	0	-0	1	0	1	1	-0	1	0	0	1	1
Interest	0	0	0	1	0	0	0	1	1	0	0	0	0
Depreciation	0	0	1	0	0	1	1	1	1	1	1	1	1
Profit before Tax	-7	3	9	9	2	-2	2	-1	1	1	4	-3	3
Tax %	-0.59%	6.57%	3.35%	2.10%	11.48%	-13.66%	15.00%	-7.79%	96.15%	49.30%	1.85%	-27.71%	16.37%
Net Profit	0	0	0	0	2	-3	1	-1	0	1	4	-4	3
	-10.90	4.08	14.25	14.13	3.44	-4.11	2.17	-1.32	0.05	1.14	5.91	-6.75	4.49

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
	36	47	50	88	76	87	120	152	193	228	286
	33	46	54	85	78	82	105	150	176	224	279
Operating Profit	3	0	-3	3	-2	5	15	2	17	4	7
OPM %	7.98%	0.92%	-6.97%	3.20%	-2.39%	5.74%	12.31%	1.18%	8.85%	1.65%	2.38%
	1	0	0	1	0	0	0	0	1	1	2
Interest	1	0	0	0	0	0	0	0	2	2	2
Depreciation	2	0	0	41	0	1	1	1	2	2	3
Profit before Tax	1	0	-3	-38	-2	4	14	1	14	1	5
Tax %	29.48%	77.34%	-6.17%	-0.21%	-6.21%	4.94%	7.78%	69.90%	5.08%	88.56%	42.69%
Net Profit	1	0	-4	-38	-2	4	13	0	14	0	3
EPS	0.00	0.00	0.00	0.00	-3.89	6.52	19.98	0.35	21.57	0.18	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 21%
5 Years:: 25%
3 Years:: 24%

COMPOUNDED PROFIT GROWTH

10 Years:: -23%
5 Years:: —
3 Years:: -79%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: -1%
5 Years:: 0%
3 Years:: 1%
Last Year:: 2%

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	6	6	6	6	6	6	6	6	6	6
	15	15	11	-27	-34	-29	-12	-13	1	1
	15	13	12	17	14	14	16	17	31	31
Trade Payables	6	5	2	6	28	35	53	13	12	7
	35	38	41	37	47	55	56	67	103	124
Total Liabilities	76	77	73	40	61	80	119	91	153	169
	41	40	41	2	2	2	3	5	5	11
	0	0	0	0	0	0	0	0	46	38
Cash & Bank	4	5	3	7	2	10	11	12	42	51
	31	31	29	31	57	68	105	74	59	69
Total Assets	76	77	73	40	61	80	119	91	153	169

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
	-2	4	-2	-36	0	9	4	4	20	16
Cash from Investing	-0	-0	-1	39	-1	-1	-2	-2	-2	-9
Cash from Financing	-1	-2	-0	1	-3	-0	0	1	12	1
	-2	2	-3	4	-4	7	1	1	30	9

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 (₹)	0.68	0.11	-5.72	-60.33	-3.89	6.52	19.98	0.35	21.57	0.18
Book Value (₹)	33.86	34.02	27.60	-32.44	-44.36	-36.75	-9.91	-10.98	10.97	12.33
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	4.08	0.38	-5.46	5.51	-3.20	7.40	21.27	1.86	24.09	3.68
PROFITABILITY
Operating Margin %	9.83%	1.10%	-6.33%	4.14%	-2.38%	5.74%	12.31%	1.18%	8.85%	1.65%
Net Margin %	2.36%	0.15%	-7.16%	-43.25%	-3.22%	4.72%	10.46%	0.14%	7.02%	0.05%
ROE %	3.98%	0.33%	-18.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.56%
ROCE %	6.09%	1.19%	-12.92%	-726.06%	0.00%	0.00%	0.00%	25.88%	94.70%	9.84%
	1.14%	0.09%	-4.79%	-66.83%	-4.82%	5.80%	12.60%	0.21%	11.12%	0.07%
EFFICIENCY
Debtor Days	276	227	203	121	211	252	230	174	97	68
Inventory Days	4	0	0	0	0	0	0	0	0	0
Payable Days	3221	0	0	0	0	0	0	0	0	0
	-2942	227	203	121	211	252	230	174	97	68
FINANCIAL HEALTH
Debt to Equity (x)	0.07x	0.00x	0.00x	0.00x	0.00x	0.00x	1.34x	1.49x	1.01x	0.89x
Interest Coverage (x)	2.86x	10.32x	-77.27x	-440.08x	-39.98x	38.52x	39.30x	7.17x	8.97x	1.49x
	0.88x	0.86x	0.75x	0.90x	0.80x	0.88x	1.05x	1.05x	1.13x	1.05x
GROWTH
Revenue Growth %	7.70%	28.37%	7.46%	74.59%	-13.24%	14.11%	38.35%	26.46%	27.15%	18.18%
Operating Profit Growth %	13.24%	-85.62%	-718.05%	214.19%	-149.96%	374.68%	196.82%	-87.87%	884.65%	-70.43%
Net Profit Growth %	-23.62%	-91.84%	-5223.22%	-954.80%	93.55%	267.50%	206.43%	-98.26%	6110.56%	-99.16%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6109.67%	-99.16%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	73.30x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	144.12x	547.10x
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	54.75x	804.72x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.32	74.32	74.32	74.32	74.32	74.32	74.32	74.32	74.32
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	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	0.00
	25.68	25.68	25.68	25.68	25.68	25.68	25.68	25.68	25.68

Documents

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