Virinchi Ltd.

•

virinchi.comBSE: 532372NSE: VIRINCHI

Market Cap₹ 168 Cr.

Current Price

High / Low₹ 33 / 14

Stock P/E14.4

Book Value₹ 42

Price to Book0.51

Dividend Yield0.00 %

ROCE6.4 %

ROE4.0 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Software Product: 95.6% • IT Enabled Services: 4.4%

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 1.92x)
Company maintains a comfortable, low leverage position

CONS

A large part of profit comes from other income (69.5% of PBT)
Company has a low return on capital employed of 5.7%
Company has a low return on equity of 3.7% over last 3 years
Company's sales have been declining over the last five years
Working capital days have increased from -50 to -6 days
Free cash flow has been persistently negative

* 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.	VIRINCHI	14.95	14.36	168.50	0.00	-2.10	-668.02	70.13	-12.05	6.54	21.22

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
	33	31	30	38	33	33	36	37	40	40	43	41	45
	25	27	24	29	26	25	28	28	29	30	31	43	44
Operating Profit	8	4	6	10	7	8	8	9	11	10	11	-2	1
OPM %	24.24%	12.26%	19.10%	25.04%	20.40%	24.10%	22.40%	23.44%	27.35%	24.86%	26.63%	-5.96%	2.96%
	2	2	4	3	4	4	4	1	5	5	6	-1	4
Interest	4	2	3	2	3	3	4	4	4	3	3	3	3
Depreciation	4	3	3	3	3	3	3	3	3	3	3	3	4
Profit before Tax	3	0	3	7	5	6	6	3	9	10	12	-10	5
Tax %	10.32%	-75.61%	19.87%	28.38%	-2.82%	3.82%	45.57%	40.42%	31.96%	21.15%	27.70%	14.63%	25.25%
Net Profit	3	1	2	5	5	6	3	2	6	8	8	-8	4
	0.34	0.08	0.28	0.53	0.56	0.56	0.33	0.16	0.60	0.74	0.82	-0.80	0.35

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
	104	139	172	170	140	133	126	127	132	139	169
	87	102	119	114	96	99	96	98	105	108	148
Operating Profit	17	36	53	56	43	34	30	29	27	32	20
OPM %	16.43%	26.21%	31.06%	33.04%	31.12%	25.84%	24.15%	22.70%	20.56%	22.67%	12.07%
	1	1	1	4	1	5	6	10	11	14	13
Interest	2	6	7	10	7	8	6	9	11	15	12
Depreciation	10	18	24	21	15	18	18	16	13	11	12
Profit before Tax	6	14	24	29	23	13	13	14	14	20	17
Tax %	31.04%	18.60%	26.50%	26.77%	25.60%	34.20%	5.13%	10.63%	18.83%	20.00%	30.57%
Net Profit	4	11	17	21	17	9	12	12	11	16	12
EPS	0.00	0.00	0.00	0.00	0.00	2.41	1.59	1.51	1.18	1.56	—
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:: 6%
5 Years:: 0%
3 Years:: 3%

COMPOUNDED PROFIT GROWTH

10 Years:: 16%
5 Years:: -1%
3 Years:: 9%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -26%
1 Year:: -48%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 4%
3 Years:: 4%
Last Year:: 4%

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
	18	27	27	31	33	37	79	84	94	103
	74	131	162	199	224	239	222	243	279	320
	27	66	68	75	51	83	115	119	157	148
Trade Payables	18	38	38	14	9	1	1	1	1	3
	9	16	31	34	31	33	24	36	52	52
Total Liabilities	146	278	326	353	347	393	440	483	583	625
	69	176	177	171	146	167	157	142	198	195
Capital Work in Progress	0	1	3	0	4	11	11	11	12	12
	35	35	63	63	63	65	65	68	68	67
	0	0	1	0	0	0	0	0	0	0
	0	0	0	0	0	0	0	0	37	32
Cash & Bank	10	5	5	3	3	4	14	18	11	5
	33	59	76	116	131	147	193	245	257	314
Total Assets	146	278	326	353	347	393	440	483	583	625

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
	45	42	48	5	20	11	106	20	50	18
Cash from Investing	-49	-74	-53	-17	-1	-47	-111	-37	-109	-68
Cash from Financing	6	35	19	27	-6	40	13	21	57	51
	-2	-5	0	-2	0	1	10	4	-7	-6

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 (₹)	2.32	4.28	6.48	6.93	5.15	2.32	1.56	1.49	1.18	1.56
Book Value (₹)	51.04	58.91	70.24	74.10	78.23	74.63	37.85	39.05	39.73	41.15
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 (₹)	4.00	5.47	7.66	6.78	4.94	3.65	3.80	3.40	2.56	2.62
PROFITABILITY
Operating Margin %	17.68%	26.96%	31.57%	35.11%	32.07%	29.62%	29.17%	30.43%	20.56%	22.67%
Net Margin %	4.00%	8.22%	10.10%	12.62%	12.06%	6.46%	9.80%	9.79%	8.36%	11.50%
ROE %	4.66%	9.17%	10.06%	10.27%	6.94%	3.23%	4.29%	3.97%	3.17%	4.03%
ROCE %	7.35%	11.43%	12.37%	13.37%	9.27%	6.45%	5.27%	5.54%	5.17%	6.35%
	3.23%	5.39%	5.76%	6.32%	4.81%	2.32%	2.97%	2.69%	2.08%	2.66%
EFFICIENCY
Debtor Days	54	54	66	67	63	70	74	78	95	90
Inventory Days	0	1	2	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	168	0	0	0
	54	55	68	67	63	70	-94	78	95	90
FINANCIAL HEALTH
Debt to Equity (x)	0.29x	0.42x	0.36x	0.33x	0.20x	0.18x	0.27x	0.27x	0.38x	0.32x
Interest Coverage (x)	3.78x	3.48x	4.39x	3.98x	4.40x	2.65x	3.18x	2.60x	2.23x	2.37x
	1.01x	0.86x	0.95x	1.11x	1.56x	2.33x	0.84x	1.11x	0.81x	0.96x
GROWTH
Revenue Growth %	31.95%	33.06%	23.87%	-1.04%	-17.93%	-4.83%	-5.11%	0.64%	4.34%	5.28%
Operating Profit Growth %	23.55%	102.93%	45.02%	10.07%	-25.04%	-12.09%	-6.53%	4.98%	-2.24%	20.60%
Net Profit Growth %	15.57%	173.36%	52.20%	23.62%	-21.54%	-49.01%	43.93%	0.51%	-10.85%	44.74%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-20.65%	32.50%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	26.00x	13.33x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.77x	0.51x
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	11.12x	7.55x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	37.59	38.07	37.60	37.51	37.50	37.51	37.51	40.10	39.46
	0.93	0.25	0.05	0.22	0.07	0.13	0.05	0.12	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
	61.48	61.68	62.35	62.27	62.42	62.35	62.43	59.78	60.54

Documents

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

2026-08-26

Copy of Newspaper Publication

2026-08-26 - Virinchi Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-22

Outcome of Board Meeting

2026-08-22 - Virinchi Limited has informed the Exchange regarding Outcome of Board Meeting held on August 22, 2026.

2026-08-17

Copy of Newspaper Publication

2026-08-17 - Virinchi Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13

Outcome of Board Meeting

2026-08-13 - Virinchi Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-10

Shareholders meeting

2026-08-10 - Virinchi Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.

2026-07-14

Shareholders meeting

2026-07-14 - Virinchi Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.

2026-07-14

Reply to Clarification- Financial results

2026-07-14 - The Exchange had sought clarification from Virinchi Limited for the quarter ended 31-Mar-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.

2026-07-11

General Updates

2026-07-11 - Virinchi Limited has informed the Exchange about General Updates

2026-07-11

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-11 - Virinchi Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

News

Recent coverage and analyst commentary for VIRINCHI

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Virinchi 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

3571.00

1029.71

29401.00

1014.73

27.70

18.65

VIRINCHI

14.95

14.36

168.50

0.00

-2.10

-668.02

70.13

-12.05

6.54

21.22

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

-2

OPM %

24.24%

12.26%

19.10%

25.04%

20.40%

24.10%

22.40%

23.44%

27.35%

24.86%

26.63%

-5.96%

2.96%

-1

Interest

Depreciation

Profit before Tax

-10

Tax %

10.32%

-75.61%

19.87%

28.38%

-2.82%

3.82%

45.57%

40.42%

31.96%

21.15%

27.70%

14.63%

25.25%

Net Profit

-8

0.34

0.08

0.28

0.53

0.56

0.33

0.16

0.60

0.74

0.82

-0.80

0.35

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

104

139

172

170

140

133

126

127

132

139

169

102

119

114

105

108

148

Operating Profit

OPM %

16.43%

26.21%

31.06%

33.04%

31.12%

25.84%

24.15%

22.70%

20.56%

22.67%

12.07%

Interest

Depreciation

Profit before Tax

Tax %

31.04%

18.60%

26.50%

26.77%

25.60%

34.20%

5.13%

10.63%

18.83%

20.00%

30.57%

Net Profit

EPS

0.00

2.41

1.59

1.51

1.18

1.56

—

Dividend Payout %

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

103

131

162

199

224

239

222

243

279

320

115

119

157

148

Trade Payables

Total Liabilities

146

278

326

353

347

393

440

483

583

625

176

177

171

146

167

157

142

198

195

Capital Work in Progress

Cash & Bank

116

131

147

193

245

257

314

Total Assets

146

278

326

353

347

393

440

483

583

625

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

106

Cash from Investing

-49

-74

-53

-17

-1

-47

-111

-37

-109

-68

Cash from Financing

-6

-2

-5

-2

-7

-6

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

2.32

4.28

6.48

6.93

5.15

2.32

1.56

1.49

1.18

1.56

Book Value (₹)

51.04

58.91

70.24

74.10

78.23

74.63

37.85

39.05

39.73

41.15

Dividend per Share (₹)

0.00

Cash EPS (₹)

4.00

5.47

7.66

6.78

4.94

3.65

3.80

3.40

2.56

2.62

PROFITABILITY

Operating Margin %

17.68%

26.96%

31.57%

35.11%

32.07%

29.62%

29.17%

30.43%

20.56%

22.67%

Net Margin %

4.00%

8.22%

10.10%

12.62%

12.06%

6.46%

9.80%

9.79%

8.36%

11.50%

ROE %

4.66%

9.17%

10.06%

10.27%

6.94%

3.23%

4.29%

3.97%

3.17%

4.03%

ROCE %

7.35%

11.43%

12.37%

13.37%

9.27%

6.45%

5.27%

5.54%

5.17%

6.35%

3.23%

5.39%

5.76%

6.32%

4.81%

2.32%

2.97%

2.69%

2.08%

2.66%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

168

-94

FINANCIAL HEALTH

Debt to Equity (x)

0.29x

0.42x

0.36x

0.33x

0.20x

0.18x

0.27x

0.38x

0.32x

Interest Coverage (x)

3.78x

3.48x

4.39x

3.98x

4.40x

2.65x

3.18x

2.60x

2.23x

2.37x

1.01x

0.86x

0.95x

1.11x

1.56x

2.33x

0.84x

1.11x

0.81x

0.96x

GROWTH

Revenue Growth %

31.95%

33.06%

23.87%

-1.04%

-17.93%

-4.83%

-5.11%

0.64%

4.34%

5.28%

Operating Profit Growth %

23.55%

102.93%

45.02%

10.07%

-25.04%

-12.09%

-6.53%

4.98%

-2.24%

20.60%

Net Profit Growth %

15.57%

173.36%

52.20%

23.62%

-21.54%

-49.01%

43.93%

0.51%

-10.85%

44.74%

0.00%

-20.65%

32.50%

VALUATION

P/E (x)

0.00x

26.00x

13.33x

P/B (x)

0.00x

0.77x

0.51x

Dividend Yield %

0.00%

0.00x

11.12x

7.55x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

37.59

38.07

37.60

37.51

37.50

37.51

40.10

39.46

0.93

0.25

0.05

0.22

0.07

0.13

0.05

0.12

0.00

DIIs

0.00

Government

0.00

61.48

61.68

62.35

62.27

62.42

62.35

62.43

59.78

60.54

Virinchi Ltd.

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Virinchi Ltd.

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Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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