Trejhara Solutions Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Freight Forwarding Income: 75.5% • Software Services: 24.5%
AI Sector View
AI GENERATEDInformation Technology
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.
PROS
- Company is almost debt free
- Promoters have been increasing their shareholding - up 10.8pp over 2 years
- Working capital cycle has improved - days down from 1686 to 363
- Company comfortably covers its interest (13.5x coverage)
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (59.4% of PBT)
- Company has a low return on capital employed of -17.5%
- Company has a low return on equity of -19.2% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.48x)
- Equity base is being diluted - shares outstanding up 98.9%
- Company has delivered a poor profit growth of -9.4% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TCS | 2300.90 | 16.72 | 832485.76 | 4.78 | 13420.00 | 4.69 | 72275.00 | 13.93 | 66.25 | 25.67 |
| INFY | 1130.00 | 15.14 | 458580.27 | 4.25 | 7775.00 | 12.29 | 48211.00 | 14.03 | 42.84 | 23.66 |
| HCLTECH | 1294.00 | 20.15 | 351148.26 | 4.17 | 4626.00 | 20.34 | 34579.00 | 13.94 | 31.20 | 19.87 |
| WIPRO | 176.80 | 13.25 | 175109.01 | 6.22 | 3356.30 | 0.59 | 24478.60 | 10.59 | 18.49 | 18.93 |
| TECHM | 1592.00 | 30.38 | 156037.29 | 3.20 | 1486.30 | 31.67 | 15711.90 | 17.68 | 23.04 | 17.43 |
| LTM | 4550.00 | 25.80 | 134962.70 | 1.65 | 1468.60 | 17.06 | 11608.00 | 17.96 | 30.25 | 17.75 |
| OFSS | 12067.35 | 30.79 | 105086.26 | 3.31 | 1415.50 | 120.52 | 3125.20 | 68.73 | 45.50 | 60.04 |
| PERSISTENT | 5655.00 | 46.38 | 89207.62 | 0.71 | 483.04 | 13.67 | 4303.23 | 29.09 | 35.09 | 16.19 |
| COFORGE | 1967.45 | 49.61 | 87153.72 | 0.80 | 531.70 | 49.19 | 5527.70 | 49.86 | 24.70 | 19.14 |
| MPHASIS | 2425.35 | 24.23 | 46294.46 | 2.56 | 489.51 | 10.82 | 4384.05 | 17.46 | 23.31 | 18.15 |
| LTTS | 3492.45 | 28.07 | 37047.05 | 1.66 | 357.10 | 12.97 | 2940.10 | 11.47 | 27.70 | 18.65 |
| TREJHARA | 150.05 | 28.52 | 361.87 | 0.00 | 47.90 | 7049.25 | 676.38 | 1972.37 | 3.08 | 9.84 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4 | 6 | 6 | 6 | 6 | 26 | 30 | 39 | 9 | 34 | 34 | 42 | 68 | |
| 3 | 3 | 4 | 7 | 5 | 24 | 28 | 37 | 7 | 32 | 32 | 40 | 63 | |
| Operating Profit | 1 | 3 | 3 | -0 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 1 | 5 |
| OPM % | 20.84% | 42.79% | 42.92% | -1.24% | 21.32% | 5.74% | 6.77% | 5.91% | 20.46% | 6.45% | 6.24% | 3.37% | 6.80% |
| 2 | -1 | 0 | 13 | 1 | 1 | 0 | 1 | 0 | 4 | 1 | 3 | 1 | |
| Interest | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 1 | 1 | 2 | 12 | 1 | 2 | 1 | 2 | 1 | 5 | 2 | 3 | 5 |
| Tax % | -36.36% | 9.43% | 20.71% | 6.10% | 22.22% | 23.67% | 27.34% | 58.25% | 31.63% | 26.39% | 20.39% | -0.94% | 11.51% |
| Net Profit | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 4 | 1 | 3 | 5 |
| 0.77 | 0.04 | 1.24 | 7.63 | 0.63 | 0.55 | 0.40 | 0.36 | 0.46 | 1.52 | 0.51 | 1.35 | 2.00 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 88 | 77 | 58 | 54 | 58 | 22 | 23 | 116 | 177 | |
| 73 | 61 | 48 | 40 | 44 | 20 | 17 | 109 | 167 | |
| Operating Profit | 14 | 16 | 10 | 14 | 14 | 3 | 6 | 7 | 10 |
| OPM % | 16.54% | 20.91% | 17.27% | 26.51% | 24.79% | 12.64% | 26.54% | 6.24% | 5.82% |
| 0 | 6 | 4 | 2 | 2 | -225 | 14 | 4 | 9 | |
| Interest | 5 | 6 | 5 | 2 | 2 | 2 | 1 | 1 | 2 |
| Depreciation | 2 | 1 | 1 | 1 | 1 | 2 | 4 | 4 | 4 |
| Profit before Tax | 7 | 15 | 8 | 13 | 14 | -227 | 15 | 7 | 15 |
| Tax % | 3.70% | 20.53% | 15.56% | 12.66% | 19.91% | 1.94% | 6.27% | 36.02% | 14.58% |
| Net Profit | 7 | 12 | 7 | 11 | 11 | -223 | 14 | 4 | 13 |
| EPS | 0.00 | 0.00 | 0.00 | 9.39 | 9.28 | -253.15 | 13.58 | 1.80 | — |
| Dividend Payout % | — | 4.81% | 0.00% | 0.00% | 5.39% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 15%
- 3 Years:
- 26%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- -9%
- 3 Years:
- -27%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 21%
- 3 Years:
- 15%
- 1 Year:
- -21%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- -11%
- 3 Years:
- -19%
- Last Year:
- 2%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0 | 12 | 12 | 12 | 12 | 12 | 15 | 24 |
| 132 | 394 | 441 | 447 | 464 | 186 | 207 | 212 | |
| 78 | 51 | 28 | 27 | 17 | 20 | 1 | 8 | |
| Trade Payables | 26 | 12 | 4 | 7 | 5 | 6 | 9 | 14 |
| 279 | 63 | 111 | 87 | 112 | 122 | 9 | 7 | |
| Total Liabilities | 516 | 532 | 596 | 580 | 610 | 346 | 240 | 265 |
| 4 | 3 | 2 | 2 | 1 | 32 | 24 | 32 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 14 | 29 | |
| Cash & Bank | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 17 |
| 511 | 528 | 592 | 577 | 608 | 311 | 201 | 187 | |
| Total Assets | 516 | 532 | 596 | 580 | 610 | 346 | 240 | 265 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| -16 | 38 | 17 | 2 | 20 | 22 | -123 | 5 | |
| Cash from Investing | -2 | -7 | -6 | 3 | -6 | -10 | 137 | -6 |
| Cash from Financing | 17 | -28 | -9 | -3 | -11 | -8 | -14 | 3 |
| -1 | -0 | 1 | -1 | 0 | 1 | 0 | 2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||
| EPS (₹) | 0.00 | 10.40 | 5.87 | 9.39 | 9.28 | -253.15 | 13.58 | 1.80 |
| Book Value (₹) | 0.00 | 343.71 | 383.16 | 388.56 | 402.27 | 167.81 | 152.39 | 100.39 |
| Dividend per Share (₹) | 0.00 | 0.50 | 0.00 | 0.00 | 0.50 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 0.00 | 11.21 | 6.70 | 10.61 | 10.32 | -186.30 | 12.47 | 3.51 |
| PROFITABILITY | ||||||||
| Operating Margin % | 17.08% | 28.96% | 24.09% | 29.64% | 28.28% | 14.80% | 26.54% | 6.24% |
| Net Margin % | 8.21% | 15.92% | 11.86% | 20.46% | 18.78% | -992.03% | 61.43% | 3.66% |
| ROE % | 5.43% | 4.57% | 1.62% | 2.43% | 2.35% | -66.08% | 6.69% | 1.86% |
| ROCE % | 2.70% | 4.59% | 2.77% | 2.99% | 3.08% | -62.77% | 7.29% | 3.08% |
| 1.39% | 2.35% | 1.23% | 1.89% | 1.84% | -46.57% | 4.79% | 1.68% | |
| EFFICIENCY | ||||||||
| Debtor Days | 173 | 168 | 176 | 168 | 152 | 346 | 248 | 67 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 173 | 168 | 176 | 168 | 152 | 346 | 248 | 67 | |
| FINANCIAL HEALTH | ||||||||
| Debt to Equity (x) | 0.61x | 0.14x | 0.07x | 0.07x | 0.05x | 0.09x | 0.00x | 0.03x |
| Interest Coverage (x) | 2.42x | 3.60x | 2.68x | 7.56x | 9.62x | -102.17x | 15.55x | 13.52x |
| 2.78x | 2.96x | 3.07x | 3.66x | 3.20x | 1.40x | 6.92x | 5.53x | |
| GROWTH | ||||||||
| Revenue Growth % | 0.00% | -11.75% | -24.27% | -7.25% | 7.60% | -61.57% | 1.84% | 406.65% |
| Operating Profit Growth % | 0.00% | 49.57% | -36.98% | 14.12% | 2.66% | -79.89% | 133.01% | 44.24% |
| Net Profit Growth % | 0.00% | 71.11% | -43.54% | 59.94% | -1.23% | -2130.00% | 106.31% | -69.78% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 105.37% | -86.72% | |
| VALUATION | ||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 11.10x | 102.10x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.99x | 1.83x |
| Dividend Yield % | 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 | 28.13x | 37.90x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-30 - TREJHARA SOLUTIONS LIMITED has informed the Exchange about Copy of Newspaper Publication regarding 09th Annual General Meeting and Intimation on remote e-voting facility.
2026-08-28 - TREJHARA SOLUTIONS LIMITED has informed the Exchange about Letter to Shareholders providing web-link and exact path to the Notice of 09th Annual General Meeting and Annual Report for the Financial Year 2025-26
2026-08-28 - TREJHARA SOLUTIONS LIMITED has informed the Exchange about Shareholders meeting
2026-08-18 - TREJHARA SOLUTIONS LIMITED has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
2026-08-10 - Monitoring Agency Report for the quarter ended June 30, 2026
2026-08-05 - TREJHARA SOLUTIONS LIMITED has informed the Exchange about Copy of Newspaper Publication for un-audited financial results for quarter ended June 30, 2026.
2026-08-04 - TREJHARA SOLUTIONS LIMITED has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-23 - TREJHARA SOLUTIONS LIMITED has informed the Exchange about Copy of Newspaper Publication of notice pertaining to Transfer of Equity Shares of the Company to the Investor Education and Protection Fund (IEPF) Account and Unclaimed Dividend thereto.
2026-07-18 - TREJHARA SOLUTIONS LIMITED has informed the Exchange about Copy of Newspaper Publication informing postal ballot notice.
News
Recent coverage and analyst commentary for TREJHARA
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