Digispice Technologies Limited (DIGISPICE)

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Digispice Technologies Limited (DIGISPICE) · mywealthgrid

About

Digispice Technologies operates in IT-enabled services with market cap ₹390 Cr. Stock fallen 50% from 52-week high of ₹32.57; one-year return -21.6%. Operating margin 4.42% and ROE 8.48% signal profitability challenges.

Face value: ₹3

Market cap

₹347 Cr

P/E

18.7×

P/B

1.3×

Dividend yield

ROE

8.5%

ROCE

14.6%

Debt / equity

0.35

OPM

4.4%

EPS (TTM)

₹0.9

Book value

₹11.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Quarterly earnings volatile: net profit swings -₹2.81 to +₹7.16 Cr; OPM varies 1.1%–7.94%, revenue includes unexplained zero-revenue quarters
Stock halved in 52 weeks (₹32.57 to ₹16.62); 1y return -21.6% reflects sustained underperformance
OPM 4.42% leaves scant room for cost absorption; verify if structural or cyclical
FII/DII both 0%, promoter holds 72.64%; limited institutional capital access

Generated analysis · source review pending

Growth drivers

Revenue pattern includes zero quarters alongside ₹107–₹125 Cr active ones; verify which IT services segments drive non-zero quarters and why others report zero
OPM swings 1.1%–7.94% across quarters; test whether 7.94% quarter reflects sustainable operational improvement or anomaly
ROE 8.48% below cost of equity; clarify capex, productivity, or staffing initiatives planned to improve capital returns
Cash retained since 2019 (no dividend payout); verify intended deployment and capital allocation priorities

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹14.8-3.6%1Y

Quick read

rule-based

Pros

+Comfortable interest coverage of 18.3×
+High promoter holding of 72.6% with no pledge

Cons

−Low return on equity of -1.2% (3-yr avg)
−Thin operating margin of 4.4%
−Revenue shrank over the last 5 years (-8.2% a year)

Research score

Structured signal from quality, growth, valuation and momentum.

39/100

Business quality: 46
Growth: 0
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	281	377	407	712	991	1,015	439	448	465
COGS	35	81	136	375	500	523	7	1	16
Gross profit	246	295	271	337	491	492	432	—	449
	241	281	265	325	476	507	418	451	428
	5	14	6	12	15	-15	14	-3	21
OPM %	1.7%	3.8%	1.5%	1.7%	1.5%	-1.4%	3.1%	-0.8%	4.4%
Depreciation	17	18	21	23	20	25	7	6	8
Interest	2	3	4	2	1	1	2	3	2
	-22	18	-35	24	20	22	18	-21	18
Profit before tax	-37	12	-54	12	13	-19	22	-32	28
Tax	8	3	2	6	7	3	10	6	9
Tax %	22%	24%	3.7%	53.5%	50.2%	14.1%	46.1%	20%	31.7%
	-45	9	-56	6	7	-22	12	-39	19
PAT margin %	-15.9%	2.4%	-13.7%	0.8%	0.7%	-2.1%	2.7%	-8.7%	4.2%
EPS (₹)	-1.6	0.3	-2.2	0.5	0.2	-0.9	0.5	-1.7	0.8
EPS adjusted (₹)	—	—	—	0.6	0.3	-1	0.6	-1.9	0.9
	—	166.7%	—	0%	0%	—	0%	—	—
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	54	54	61	61	62	62	62	63
Reserves	277	211	177	186	170	184	150	172
Minority interest	33	35	4	6	1	2	4	2
	15	53	33	54	84	26	77	82
	420	300	257	393	391	377	419	488
Total equity & liabilities	799	653	531	700	708	649	713	806
	133	75	92	90	72	59	70	65
CWIP	10	0	2	4	0	0	0	16
Investments	39	32	15	14	13	50	11	10
	617	546	422	593	622	541	632	715
Total assets	799	653	531	700	708	649	713	806

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Financial Technology Services (Spice Money)	464.65	42.8	646.55	550.98	95.57	44.78
Discontinued Operations	0	0

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	78.4%	66.5%	47.3%	49.5%	48.5%	98.3%	—	96.5%
EBITDA margin %	4.1%	1.7%	1.8%	1.5%	-1.4%	3.1%	-0.8%	4.4%
EBIT margin %	-0.7%	-3.4%	-1.4%	-0.5%	-3.9%	1.5%	-2.1%	2.7%
PAT margin %	2.4%	-13.7%	0.8%	0.7%	-2.1%	2.7%	-8.7%	4.2%
Working capital
Receivable days	—	—	29	26	12	18	22	23
Inventory days	—	—	4	2	3	103	1	11
Payable days	—	—	56	51	37	692	14	337
NWC days	—	—	-23	-23	-21	-572	9	-303
Leverage
Current ratio	—	—	1.15	1.09	1.07	1.2	1.25	1.18
Debt to EBITDA	—	—	2.59	3.69	—	1.9	—	3.99
Debt to equity	—	—	0.14	0.22	0.36	0.1	0.36	0.35
Interest coverage	6	-0.5	9.2	13.1	-9.9	16.5	6.2	18.3
Asset turnover	—	—	1.34	1.41	1.43	0.68	0.63	0.58
Return ratios
Return on assets %	—	—	1.1%	1%	-3.1%	1.8%	-5.5%	2.4%
Return on capital employed %	—	—	5.8%	6%	-5.1%	12.8%	6%	14.6%
Return on equity %	—	—	2.4%	2.7%	-9.3%	4.8%	-18.3%	8.2%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.18%	73%	72.97%	72.89%	72.74%	72.64%	72.96%	72.96%	72.76%	72.7%	72.7%	72.64%
	0%	0%	0.06%	0%	0%	0%	0.04%	0.04%	0.06%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	26.82%	27%	26.97%	27.11%	27.26%	27.36%	27%	27%	27.18%	27.3%	27.3%	27.36%
No. of shareholders	—	—	—	—	—	—	—	—	41,016	40,050	39,142	38,587

Promoter holding down 0.54 percentage points since Sep 2023.

3 deals · 1 Jul 2024 – 1 Jul 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
1 Jul 2024	LTD MEDIATEK INDIA TECHNOLOGY PVT	Bulk	NSE	Sell	14,30,616	₹47.69	₹6.82 Cr
1 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	11,74,958	₹49.01	₹5.76 Cr
1 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	11,74,958	₹49.11	₹5.77 Cr

1–3 of 3

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Dilip Kumar ModiNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Ramesh VenkataramanNon-Executive - Non Independent Director
Mr. Mrutyunjay MahapatraNon-Executive - Independent Director
Mr. Ram Nirankar RastogiNon-Executive - Independent Director
Mr. Pankaj VaishNon-Executive - Independent Director
Mrs. Veena Vikas MankarNon-Executive - Independent Director
Mr. Sanjeev KumarChief Financial Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Digispice Technologies Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

9

Final dividend19 Sept 2019 · ex-date₹0.45
Dividend dividend12 Feb 2014 · ex-date₹1.5
Interim dividend8 Nov 2013 · ex-date₹0.15
Dividend dividend30 Nov 2012 · ex-date₹1.5
Dividend dividend20 Sept 2011 · ex-date₹1.5
Dividend dividend21 Sept 2010 · ex-date₹1.5
Dividend dividend17 Sept 2009 · ex-date₹0.27
Dividend dividend13 Jun 2008 · ex-date₹0.45
Dividend dividend13 Sept 2007 · ex-date₹0.3

1

Board meeting to consider results5 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

20 announcementsExport CSV

22 Sept 2026, 1:42 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	78.4%	66.5%	47.3%	49.5%	48.5%	98.3%	—	96.5%
EBITDA margin %	4.1%	1.7%	1.8%	1.5%	-1.4%	3.1%	-0.8%	4.4%
EBIT margin %	-0.7%	-3.4%	-1.4%	-0.5%	-3.9%	1.5%	-2.1%	2.7%
PAT margin %	2.4%	-13.7%	0.8%	0.7%	-2.1%	2.7%	-8.7%	4.2%
Working capital
Receivable days	—	—	29	26	12	18	22	23
Inventory days	—	—	4	2	3	103	1	11
Payable days	—	—	56	51	37	692	14	337
NWC days	—	—	-23	-23	-21	-572	9	-303
Leverage
Current ratio	—	—	1.15	1.09	1.07	1.2	1.25	1.18
Debt to EBITDA	—	—	2.59	3.69	—	1.9	—	3.99
Debt to equity	—	—	0.14	0.22	0.36	0.1	0.36	0.35
Interest coverage	6	-0.5	9.2	13.1	-9.9	16.5	6.2	18.3
Asset turnover	—	—	1.34	1.41	1.43	0.68	0.63	0.58
Return ratios
Return on assets %	—	—	1.1%	1%	-3.1%	1.8%	-5.5%	2.4%
Return on capital employed %	—	—	5.8%	6%	-5.1%	12.8%	6%	14.6%
Return on equity %	—	—	2.4%	2.7%	-9.3%	4.8%	-18.3%	8.2%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
L&T Technology Services LimitedLTTSLTTS	₹34,671 Cr	₹34,671 Cr	₹11,701 Cr	₹2,074 Cr	17.6%	₹1,320 Cr	11.7%	24.9%	20.4%	29
Inventurus Knowledge Solutions LimitedIKSIKS	₹30,483 Cr	₹31,124 Cr	₹3,347 Cr	₹1,149 Cr	34.2%	₹764 Cr	22.6%	33.8%	31.4%	39
Tata Technologies LimitedTATATECHTATATECH	₹28,378 Cr	₹29,044 Cr	₹5,926 Cr	₹920 Cr	15.5%	₹557 Cr	9.9%	19.3%	14.6%	33
Netweb Technologies India LimitedNETWEBNETWEB	₹25,721 Cr	—	₹724 Cr	₹103 Cr	14.2%	₹76 Cr	10.5%	—	—	—
Affle 3i LimitedAFFLEAFFLE	₹20,410 Cr	₹20,422 Cr	₹2,836 Cr	₹638 Cr	22.5%	₹478 Cr	16.8%	16.9%	13.8%	-51
Sagility LimitedSAGILITYSAGILITY	₹20,209 Cr	₹21,320 Cr	₹7,617 Cr	₹1,849 Cr	24.5%	₹993 Cr	12.9%	13.3%	10.3%	78
Esds Software Solution LimitedESDSESDS	₹16,809 Cr	—	₹208 Cr	₹47 Cr	22.9%	₹-22 Cr	-10.8%	0.8%	-10.9%	—
Black Box LimitedBBOXBBOX	₹14,134 Cr	₹14,961 Cr	₹6,654 Cr	₹614 Cr	9%	₹226 Cr	3.4%	21.7%	21.3%	-10
E2e Networks LimitedE2EE2E	₹13,323 Cr	₹13,482 Cr	₹366 Cr	₹234 Cr	51.4%	₹31 Cr	-6.3%	-0.5%	-1%	-45
Cyient LimitedCYIENTCYIENT	₹12,272 Cr	₹12,438 Cr	₹7,632 Cr	₹944 Cr	12.5%	₹378 Cr	6.4%	12.4%	7.8%	119
Amagi Media Labs LimitedAMAGIAMAGI	₹11,984 Cr	₹11,984 Cr	₹1,506 Cr	₹50 Cr	3.4%	₹72 Cr	4.8%	5.2%	4.1%	40
Emudhra LimitedEMUDHRAEMUDHRA	₹4,802 Cr	₹4,826 Cr	₹745 Cr	₹174 Cr	22.7%	₹115 Cr	15.7%	14.9%	13%	36

Date	Category	Subject	Filing
22 Sept 2026, 1:42 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
15 Sept 2026, 4:41 pm	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF
8 Sept 2026, 3:21 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
28 Aug 2026, 10:56 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
27 Aug 2026, 5:00 pm	Company Update General	Letter To Shareholders Under Regulation 36(1)(B)	PDF
27 Aug 2026, 3:12 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
27 Aug 2026, 3:00 pm	AGM/EGM AGM	Notice Of Annual General Meeting Scheduled On 22Nd September, 2026	PDF
19 Aug 2026, 12:15 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-65	-68	119	149	6	42	12	64
	41	14	-83	-119	-37	5	14	-50
	36	46	0	-8	-4	-56	48	4
Net cash flow	13	-8	36	22	-36	-8	74	18
Free cash flow	—	—	115	136	-2	40	3	48
CFO / Operating profit %	—	—	929.4%	—	—	308.4%	—	313.7%

Digispice Technologies Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

9

1

Announcements

9

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Digital Technology Services (DiGiSPICE) · revenue

Digispice Technologies Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends9

Board meetings1

Announcements

Dividends9

Board meetings1

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Digital Technology Services (DiGiSPICE) · revenue

9

1

9

1