Fractal Analytics
Fractal Analytics
Information TechnologyKey Fundamentals
MicrocapComputer Software & ConsultingInformation TechnologyTapetide Score
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Key Insights
Strengths
1- Company has delivered good profit growth of 51.6% CAGR over last 5 years
Weaknesses
5- Stock is trading at 4.13 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 17.0%
- Tax rate seems low
- Company has a low return on equity of 7.68% over last 3 years.
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 17d agoFractal Analytics trades at a market cap of ₹14,395 Cr with a PE of 44.4x and has delivered strong profit growth of 52% CAGR over 5 years, though ROE remains modest at 7.6% over 3 years and the company pays no dividend.
- Compounded profit growth of 52% CAGR over 5 years demonstrates strong earnings momentum
- TTM sales growth of 19% indicates continued revenue traction in AI/analytics services
- 5-year compounded sales CAGR of 30% reflects sustained demand for data analytics offerings
- TTM profit growth of 69% shows significant margin expansion or operating leverage
- Last year ROE improved to 12%, up from 3-year average of 8%, suggesting improving capital efficiency
- 3-year compounded profit CAGR of 54% outpaces revenue growth of 18%, indicating scalability of the business model
- PE of 44.4x is elevated relative to earnings, pricing in significant future growth expectations
- 3-year ROE of only 7.6% is low for a capital-light IT services business, indicating poor return generation
- Promoter holding at just 17.0% is significantly below typical Indian IT company norms, raising governance concerns
- Price-to-book of 4.48x is high given the modest ROE, suggesting premium valuation without commensurate returns
- Zero dividend payout despite repeated profits limits shareholder returns to capital appreciation only
- Working capital days increased from 53.0 to 94.6 days, signalling deterioration in cash conversion efficiency
- 5-year ROE of just 1% indicates historically weak profitability prior to recent improvement
- Low tax rate raises questions about sustainability of reported earnings quality
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 12d ago- India BU to scale enterprise AI Aug 25
Fractal Analytics launched a dedicated India Business Unit led by Rishi Seth, leveraging its Cogentiq platform to target large Indian enterprises. The company maintains over 6% revenue investment in AI R&D and IP creation.
- ESOP grant signals talent retention Aug 21
Fractal approved 1,52,000 ESOPs at ₹855.25/share under its 2019 plan, vesting in four equal tranches over four years, indicating commitment to retaining key talent.
- 26th AGM set for Sep 16 Aug 21
Fractal Analytics scheduled its 26th Annual General Meeting for September 16, 2026, to be held via video conferencing for FY25-26 business.
TL;DR: Fractal Analytics is making strategic moves to deepen its India presence with a new dedicated Business Unit and sustained AI R&D investment above 6% of revenue, which could open a meaningful growth channel among large domestic enterprises. The ESOP grant at ₹855.25 reflects confidence in retention and aligns employee incentives with long-term value creation. No material headwinds emerged this week. The near-term outlook is constructive, with the India BU launch being the key catalyst to watch for revenue diversification.
Quarterly Results
| Particulars | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 707 | 758 | 760 | 798 | 854 | 886 | 912 |
| Expenses | 622 | 635 | 680 | 724 | 744 | 713 | 793 |
| Operating Profit | 86 | 122 | 80 | 75 | 110 | 173 | 120 |
| OPM % | 12% | 16% | 11% | 9% | 13% | 20% | 13% |
| Other Income | 50 | 8 | 14 | 16 | 2 | 20 | 26 |
| Interest | 10 | 11 | 12 | 12 | 11 | 13 | 9 |
| Depreciation | 24 | 34 | 30 | 34 | 36 | 37 | 40 |
| PBT | 102 | 86 | 53 | 46 | 65 | 143 | 97 |
| Tax % | 10% | 35% | 29% | 28% | -54% | 19% | 26% |
| Net Profit | 92 | 56 | 38 | 33 | 100 | 116 | 72 |
| EPS in Rs | 6.95 | 4.09 | 2.74 | 2.5 | 7.44 | 6.85 | 4.31 |
Profit & Loss
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales | 768 | 873 | 1,295 | 1,985 | 2,196 | 2,765 | 3,300 | 3,452 |
| Expenses | 782 | 772 | 1,379 | 2,102 | 2,139 | 2,445 | 2,862 | 2,975 |
| Operating Profit | -14 | 101 | -84 | -116 | 57 | 320 | 438 | 477 |
| OPM % | -1.9% | 12% | -6% | -6% | 2.6% | 12% | 13% | 14% |
| Other Income | 22 | 19 | 19 | 553 | 40 | 78 | 52 | 64 |
| Interest | 20 | 17 | 14 | 45 | 44 | 58 | 47 | 44 |
| Depreciation | 47 | 52 | 69 | 78 | 83 | 102 | 136 | 146 |
| PBT | -60 | 51 | -148 | 313 | -30 | 238 | 307 | 351 |
| Tax % | 29% | 29% | 1% | 38% | 79% | 7% | 6% | — |
| Net Profit | -77 | 36 | -148 | 194 | -55 | 221 | 287 | 321 |
| EPS in Rs | -6.36 | 3.09 | -11.44 | 14.85 | -4.16 | 16.45 | 16.68 | 21.1 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 3 | 3 | 3 | 3 | 17 |
| Reserves | 270 | 309 | 1,100 | 1,360 | 1,403 | 1,750 | 3,168 |
| Borrowings | 346 | 315 | 301 | 326 | 364 | 430 | 418 |
| Other Liabilities | 334 | 378 | 441 | 520 | 575 | 619 | 735 |
| Total Liabilities | 952 | 1,004 | 1,845 | 2,209 | 2,344 | 2,802 | 4,338 |
| Fixed Assets | 202 | 172 | 552 | 558 | 626 | 687 | 765 |
| CWIP | 16 | 20 | 30 | 449 | 6 | 14 | 36 |
| Investments | 23 | 96 | 404 | 292 | 879 | 994 | 1,238 |
| Other Assets | 711 | 717 | 860 | 910 | 833 | 1,107 | 2,300 |
| Total Assets | 952 | 1,004 | 1,845 | 2,209 | 2,344 | 2,802 | 4,338 |
Cash Flow
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Operating | -40 | 81 | -117 | -31 | 160 | 397 | 409 |
| Investing | 7 | -53 | -797 | 118 | -146 | -191 | -1,405 |
| Financing | 42 | -17 | 724 | -57 | -145 | -22 | 938 |
| Net Cash Flow | 9 | 10 | -190 | 30 | -132 | 184 | -58 |
| Free Cash Flow | -64 | 56 | -167 | -64 | 135 | 314 | 190 |
| CFO/OP | 127 | 100 | 119 | 8 | 336 | 141 | 110 |
Ratios
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Debtor Days | 73 | 59 | 112 | 92 | 89 | 77 | 79 |
| Cash Conversion Cycle | 73 | 59 | 112 | 92 | 89 | 77 | 79 |
| Working Capital Days | 25 | 30 | 45 | 43 | 38 | 26 | -2 |
| ROCE % | — | 9% | -12% | -9% | 0% | 14% | 13% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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39 extracted metrics + investor summaries across FY20–FY27.
Documents
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Company Information
Incorporated in 2000, Fractal Analytics Ltd is in the business of offering Analytics and AI based solutions[1]
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