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Capillary Technologies India

CAPILLARY NSE
₹510.10 No trade today
P/E
Not meaningful: last twelve months’ earnings are mostly a one-off item
View as Markdown
MCP
Close 4 Nov 2026 ₹510.10 −96.40 −15.9% since 21 Nov 2025
Start ₹606.50

Key Fundamentals

Microcap

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
3.42%
Debt to Equity
0.05
EPS (TTM)
₹5.31
Book Value
₹133.10
Market Cap
—
P/E (TTM)
Not meaningful: last twelve months’ earnings are mostly a one-off item
P/B
3.83
ROE
2.95%
Dividend Yield
0.00%
EBITDA
₹107 Cr
52W High
₹798.95
52W Low
₹438.15
Volume
0

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

43 Weak

Data confidence 100/100

Category scores

Quality
49
Average
Returns, margins, earnings quality 22% weight
Valuation
25
Poor
Cheap vs sector & own history 24% weight
Growth
57
Good
Sales & profit trajectory 9% weight
Financial Health
64
Good
Solvency, leverage, coverage 9% weight
Momentum
44
Weak
Trend strength, vol-adjusted 12% weight
Ownership
39
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 24.8% CAGR over last 5 years

Weaknesses

5
  • Stock is trading at 4.43 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -4.22%
  • Tax rate seems low
  • Company has a low return on equity of -2.31% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1261
OscillatorsBearish261
Moving AveragesStrong Bearish1000

Key readings

RSI (14)
43.43
Neutral
MACD (12,26,9)
−6.37
Bearish
SMA (50)
523.12
Bearish
SMA (200)
530.33
Bearish

As of

Analyst Rating

Based on 2 analysts
BUY100%

2 of 2 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
2
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025.

Revenue

Revenue growth by window
5Y+33.86%
3Y+31.53%
1Y+22.91%

Net profit

Net profit growth by window
5YTurned to profit
3YTurned to profit
1Y+300.00%

Operating cash flow

Operating cash flow growth by window
5Y+172.41%
3YTurned positive
1YTurned positive

Operating margin· change in pp

Operating margin growth by window
5Y+20.25 pp
3Y+32.46 pp
1Y+1.78 pp

Trailing twelve months: Fewer than eight quarters are reported, so there is no trailing-twelve-month figure.

Revenue by year

Revenue by year, ₹ crore
Mar 2021₹171 Cr
Mar 2022₹223 Cr
Mar 2023₹323 Cr
Mar 2024₹525 Cr
Mar 2025₹598 Cr
Mar 2026₹735 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2021−₹23.00 Cr
Mar 2022−₹101 Cr
Mar 2023−₹88.00 Cr
Mar 2024−₹57.00 Cr
Mar 2025₹13.00 Cr
Mar 2026₹52.00 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹164 Cr +53.7% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

Capillary Technologies is a mid-cap IT company with a market cap of Rs.4,100 Cr trading at a PE of 78.2x. The company has delivered strong revenue growth of 32% CAGR over 3 years and 109% TTM profit growth, but carries a negative 3-year average ROE of -1% and does not pay dividends.

Bull Case 7
  • Strong revenue growth with compounded sales CAGR of 32% over 3 years and 34% over 5 years, indicating consistent top-line expansion
  • Profit growth accelerating sharply with TTM compounded profit growth of 109%, suggesting improving operating leverage
  • Company is almost debt-free, significantly reducing financial risk and interest burden
  • 5-year compounded profit CAGR of 27% demonstrates sustained earnings momentum beyond just one good year
  • Company has actively reduced debt levels, improving balance sheet quality and financial flexibility
  • TTM sales growth of 23% indicates continued momentum in the most recent period
  • Last year ROE turned positive at 4% after years of negative returns, suggesting a potential inflection point in profitability
Bear Case 7
  • 3-year average ROE of -1% and 5-year average ROE of -11% indicate historically poor capital efficiency despite recent profits
  • Zero dividend yield with no payout despite reporting repeated profits, offering no return to shareholders beyond capital appreciation
  • Stock trades at 4.0x book value which is expensive given the historically negative return on equity
  • Earnings quality concern as other income of Rs.38.7 Cr forms a material portion of profits, inflating reported earnings
  • Tax rate appears low, which may not be sustainable and could compress future net profits when normalized
  • Market cap of Rs.4,100 Cr on what appears to be a still-maturing profitability profile creates valuation risk if growth slows
  • Despite 5-year profit CAGR of 27%, the base was negative ROE territory, making percentage growth figures optically better than absolute earnings quality

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: Limited news flow for Capillary Technologies with only routine corporate actions reported. The ESOP grant signals employee retention focus but carries mild dilution. No material business updates, order wins, or financial disclosures in the period. Investors should watch for upcoming quarterly results for directional clarity.

Neutral 2
  • 7.45 lakh ESOPs granted Jul 1

    Capillary Technologies granted 7,45,537 stock options under ESOP Plan 2021 at ₹418 per option for general employees and ₹521.47 for US tax residents.

  • Investor conference participation Jun 10

    Capillary Technologies will attend the Avendus Spark Small-Cap Investor Conference on June 15, 2026 in Mumbai. No unpublished price sensitive information to be discussed.

Quarterly Results

₹ Cr
CAPILLARY quarterly results, ₹ crore
Particulars Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
159
152
180
179
184
191
257
271
Expenses
136
125
162
161
159
160
216
232
Operating Profit
22.96
27.53
17.84
18.65
24.98
31.4
40.3
39.48
OPM %
14.44%
18.1%
9.92%
10.4%
13.57%
16.41%
15.7%
14.55%
Other Income
0.34
−0.66
1.16
2.18
3.68
31.67
−27.68
6.06
Interest
1.67
1.6
1.17
1.77
1.46
1.07
1.17
1.14
Depreciation
12.84
16.5
17.28
19.1
19.08
19.52
20.04
24.45
PBT
8.79
8.77
0.55
−0.04
8.12
42.48
−8.59
19.94
Tax %
−16.72%
−12.2%
−34.55%
−800%
1.48%
−2.1%
11.18%
−9.88%
Net Profit
10.26
9.84
0.75
0.29
7.99
43.36
−9.55
21.92
EPS (₹)
1.4
1.34
0.1
0.04
1.01
5.46
−1.2
—

Sep 2026: from the results filed on 2 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
CAPILLARY profit and loss, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
171
223
323
525
598
735
811
Expenses
184
274
387
537
533
642
696
Operating Profit
−13
−51
−64
−12
65
93
115
OPM %
−7%
−23%
−20%
−2.2%
11%
13%
14%
Other Income
10
−15
22
22
13
39
10
Interest
2
9
11
18
8
5
5
Depreciation
18
29
40
56
60
75
78
PBT
−23
−103
−93
−64
10
51
42
Tax %
1%
−2%
−5%
−11%
−35%
−2%
—
Net Profit
−23
−101
−88
−57
13
52
42
EPS (₹)
−4.76
−20.09
−16.58
−7.78
1.81
6.6
5.31
Div. Payout %
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
CAPILLARY balance sheet, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
2
10
11
15
15
16
Reserves
10
106
156
524
554
1,008
Borrowings
20
83
149
77
106
54
Other Liabilities
108
149
130
254
163
222
Total Liabilities
140
347
446
870
838
1,299
Fixed Assets
27
215
203
298
301
460
CWIP
0
0
6
3
0
0
Investments
0
0
0
70
0
136
Other Assets
113
132
237
499
537
702
Total Assets
140
347
446
870
838
1,299

Cash Flow

₹ Cr
CAPILLARY cash flow, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1
7
−20
97
−46
150
Investing
−14
−113
−100
−180
66
−590
Financing
28
96
137
218
4
270
Net Cash Flow
15
−9
17
134
24
−169
Free Cash Flow
−11
−10
−48
60
−94
111
CFO/EBITDA
67
−20
35
−827
−65
168

Ratios

CAPILLARY financial ratios, annual
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
117
93
91
101
98
90
Cash Conversion Cycle
117
93
91
101
98
90
Working Capital Days
−106
−184
−136
−66
−28
−10
ROCE %
—
−68%
−36%
−12%
2%
3%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Capillary Technologies insights

57 extracted metrics across FY21–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 47.23%
  • Others 22.10%
  • DIIs 21.87%
  • Public 6.23%
  • FIIs 2.56%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Capillary Technologies India

What does Capillary Technologies India Ltd do?
Incorporated in 2012, Capillary Technologies India Ltd is a leading Indian software-as-a-service (SaaS) company that specializes in customer loyalty and engagement solutions.
Where is Capillary Technologies India Ltd (CAPILLARY) listed?
Capillary Technologies India Ltd trades as CAPILLARY on the NSE and under code 544614 on the BSE.
Which sector does Capillary Technologies India Ltd belong to?
Capillary Technologies India Ltd is classified under the Information Technology sector, in the IT - Software industry.
What is the 52-week high and low of Capillary Technologies India Ltd?
Over the last 52 weeks Capillary Technologies India Ltd has traded between ₹438.15 and ₹798.95 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Capillary Technologies India Ltd?
Capillary Technologies India Ltd reported a return on equity of 2.95%. Its debt-to-equity ratio is 0.05.

Company Information

Incorporated in 2012, Capillary Technologies India Ltd is a leading Indian software-as-a-service (SaaS) company that specializes in customer loyalty and engagement solutions.

CEO Mr. Aneesh Reddy Boddu
Employees 737
Listed 21 Nov 2025
Face Value ₹2

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