Newgen Software Technologies Limited (NEWGEN)

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Newgen Software Technologies Limited (NEWGEN) · mywealthgrid

About

Newgen provides software and consulting services in IT sector. Market cap ₹7,625.89 Cr. Competes in IT services and software consulting space.

Founded: 1992
Face value: ₹10

Market cap

₹6,503 Cr

P/E

20.4×

P/B

3.6×

Dividend yield

2.4%

ROE

18.3%

ROCE

24.9%

Debt / equity

OPM

25.8%

EPS (TTM)

₹22.6

Book value

₹125.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins crashed 50% (34.98% Mar 2026 → 15.21% Jun 2026) - verify project mix shift, pricing pressure, or execution failures caused compression

Revenue plunged 27-35% QoQ (₹418-452 Cr → ₹304-356 Cr) - verify seasonal pattern, contract completions, or demand softness

Stock down 40.76% YoY (₹996.55 → ₹535.15) - verify business deterioration, client concentration, or sector headwinds

Zero debt limits cushion if margin compression persists - verify working capital and cash runway scenarios

Generated analysis · source review pending

Growth drivers

Margin recovery from 15% (Jun) to historical 25-35% would expand profits significantly without requiring revenue growth

Revenue stabilization at prior ₹418-452 Cr level would drive earnings recovery given software services cost structure

Digital transformation and enterprise modernization trends drive IT services demand - verify customer spending trends and company's vertical positioning

Shift to platform or SaaS revenue models (vs project-based) would increase margin durability - verify if company pursuing recurring revenue transition

Generated analysis · source review pending

2,138 historical price candles were omitted because the exchange source has not been verified.

₹456.4-3.5%1Y

Quick read

rule-based

Pros

+Strong return on equity of 21.4% (3-yr avg)
+High return on capital employed of 26.3%
+Healthy operating margin of 25.8%
+Profit CAGR of 18.9% over the last 5 years
+Revenue CAGR of 18.5% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 79.7×
+Dividend payout of 49.1% of profit

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

71/100

Business quality: 78
Growth

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.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

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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
	512	621	661	673	779	974	1,244	1,487	1,574
	415	493	556	481	584	762	956	1,111	1,169
	98	128	105	192	195	212	288	376	406
OPM %	19%	20.6%	15.8%	28.5%	25%	21.8%	23.2%	25.3%	25.8%
Depreciation	6	6	20	20	18	25	28	33	37
Interest	5	9	11	6	3	4	4	5	5
	8	20	21	15	30	34	48	64	24
Profit before tax	94	134	95	181	203	217	304	402	387
Tax	21	31	22	55	39	41	53	87	87
Tax %	22.6%	23.5%	23.2%	30.2%	19.3%	18.9%	17.3%	21.6%	22.4%
	73	102	73	126	164	176	252	315	301
PAT margin %	14.2%	16.5%	11%	18.8%	21.1%	18.1%	20.2%	21.2%	19.1%
EPS (₹)	11.4	15	10.6	18.3	23.7	25.3	18	22.5	21.4
EPS adjusted (₹)	5.4	7.5	5.3	9.1	11.8	12.7	18	22.5	21.3
	17.5%	20%	18.9%	19.1%	19%	19.7%	22.2%	22.2%	28.1%
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	Annual report for Mar 2026

₹ Cr	Apr 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	69	68	68	69	69	70	70	140	140	141
Reserves	0	337	428	—	596	742	907	1,084	1,376	1,636
	0	63	78	—	0	6	4	49	0	0
	51	141	168	—	255	289	361	414	529	665
Total equity & liabilities	120	609	743	—	921	1,107	1,342	1,686	2,045	2,442
	62	68	69	130	205	230	245	248	259	239
CWIP	0	17	83	—	0	0	0	3	0	1
Investments	0	50	52	—	83	92	131	365	508	703
	59	474	539	—	632	785	966	1,070	1,278	1,499
Total assets	120	609	743	—	921	1,107	1,342	1,686	2,045	2,442

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 %
EMEA	489.13	140.26	382.19	179.17	203.02	69.09
India	452.96	72.43

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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 %	—	—	—	—	—	—	—	—
EBITDA margin %	20.6%	15.8%	28.5%	25%	21.8%	23.2%	25.3%	25.8%
EBIT margin %	19.6%	12.8%	25.5%	22.7%	19.3%	20.9%	23.1%	23.4%
PAT margin %	16.5%	11%	18.8%	21.1%	18.1%	20.2%	21.2%	19.1%
Working capital
Receivable days	149	—	129	131	145	130	137	164
Inventory days	0	—	0	0	0	0	0	0
Payable days	16	—	17	23	17	18	17	17
NWC days	133	—	112	108	129	112	120	147
Leverage
Current ratio	2.61	—	3.06	3.13	2.85	3.49	3.86	3.7
Debt to EBITDA	0.61	—	0	0.03	0.02	0.17	0	0
Debt to equity	0.16	—	0	0.01	0	0.04	0	0
Interest coverage	16.6	9.7	33.2	59.3	52.1	73.8	85.3	79.7
Asset turnover	0.84	—	0.73	0.7	0.73	0.74	0.73	0.64
Return ratios
Return on assets %	13.8%	—	13.7%	14.8%	13.1%	14.9%	15.4%	12.3%
Return on capital employed %	29.6%	—	26.4%	26.3%	23.1%	26.2%	27.9%	24.9%
Return on equity %	20.6%	—	19%	20.2%	18%	20.6%	20.8%	16.9%

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
	55.16%	55.07%	55.01%	54.3%	54.3%	54.3%	53.78%	53.78%	53.76%	53.52%	53.52%	53.45%
	15.92%	15.22%	16.4%	17.84%	19.98%	20.31%	19.36%	19.14%	17.63%	17.34%	14.48%	13.78%
	9.28%	9.78%	9.71%	9.96%	8.93%	9.1%	9.13%	9.46%	9.58%	9.68%	8.85%	8.15%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	19.33%	19.5%	18.52%	17.61%	16.53%	16.05%	16.73%	16.77%	18.33%	18.38%	22.33%	23.88%
No. of shareholders	—	—	—	—	—	—	—	—	1,65,772	1,63,917	1,93,680	2,00,312

Promoter holding down 1.71 percentage points since Sep 2023.

106 deals · 16 Sept 2021 – 16 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
16 Jul 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	9,16,713	₹556.34	₹51.00 Cr
16 Jul 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	9,16,518	₹556.31	₹50.99 Cr
16 Jul 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	7,98,643	₹561.54	₹44.85 Cr
16 Jul 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	7,67,118	₹552.64	₹42.39 Cr
13 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	18,94,856	₹581.66	₹110.22 Cr
13 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	18,94,856	₹581.37	₹110.16 Cr
13 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Sell	12,41,513	₹571.83	₹70.99 Cr
13 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Buy	11,85,786	₹576.21	₹68.33 Cr
13 Jul 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	8,10,429	₹570.93	₹46.27 Cr
13 Jul 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	8,09,131	₹571.25	₹46.22 Cr

1–10 of 106

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Mr. DIWAKAR NIGAMExecutive Director-Chairperson related to Promoter-MD
Mr. VARADARAJAN TIRUMALAI SUNDARAJA IYENGARVice Chairperson
Mrs. PRIYADARSHINI NIGAMExecutive Director
Mr. SAURABH SRIVASTAVANon-Executive - Independent Director
Mr. SUBRAMANIAM RAMNATH IYERNon-Executive - Independent Director
Mrs. PADMAJA KRISHNANNon-Executive - Independent Director
Mr. SUDHIR KUMAR SETHINon-Executive - Independent Director
Ms. SHUBHI NIGAMNon-Executive - Non Independent Director
Mr. Tarun NandwaniChief Executive Officer
Mr. Arun Kumar GuptaChief Financial Officer
Mr. Aman MouryaCompany Secretary & Compliance Officer

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F&O

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

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Fund holders

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

Portfolio month

Schemes holding

across 9 fund houses

Held by these funds

0.64%

of the company's equity

All mutual funds

2.71%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

26 schemes · 9 fund houses

		Shares
DIGITAL INDIA FUND	Tata Mutual Fund	6.42 L	33.95	0.33%	0.45%	-0
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	1.02 L	5.39	0.15%	0.071%	+1,246
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	51,771	2.74	0.15%	0.036%	+578
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	37,529	1.98	0.15%	0.026%	+341
Nifty Smallcap 250 Index Fund	ICICI Prudential Mutual Fund	22,833	1.21	0.15%	0.016%	+461
Nifty 500 Equal Weight Index Fund	Nippon India Mutual Fund	18,967	1	0.19%	0.013%	+9
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	10,190	0.54	0.02%	0.007%	+350
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	7,334	0.39	0.15%	0.005%	-403

1–8 of 26

1 / 4

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Documents

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

Announcements

Annual reports

Credit ratings

Enclosed Credit Rating disclosure.3 Sept 2026

Investor Presentation and earnings call

Jul 2026Transcript AI Summary PPT REC
Apr 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

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

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

21 announcementsExport CSV

21 Jul 2026, 4:14 pmCompany Update

Announcement under Regulation 30 (LODR)-Earnings Call Transcript

Earnings Call Transcript 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 %	—	—	—	—	—	—	—	—
EBITDA margin %	20.6%	15.8%	28.5%	25%	21.8%	23.2%	25.3%	25.8%
EBIT margin %	19.6%	12.8%	25.5%	22.7%	19.3%	20.9%	23.1%	23.4%
PAT margin %	16.5%	11%	18.8%	21.1%	18.1%	20.2%	21.2%	19.1%
Working capital
Receivable days	149	—	129	131	145	130	137	164
Inventory days	0	—	0	0	0	0	0	0
Payable days	16	—	17	23	17	18	17	17
NWC days	133	—	112	108	129	112	120	147
Leverage
Current ratio	2.61	—	3.06	3.13	2.85	3.49	3.86	3.7
Debt to EBITDA	0.61	—	0	0.03	0.02	0.17	0	0
Debt to equity	0.16	—	0	0.01	0	0.04	0	0
Interest coverage	16.6	9.7	33.2	59.3	52.1	73.8	85.3	79.7
Asset turnover	0.84	—	0.73	0.7	0.73	0.74	0.73	0.64
Return ratios
Return on assets %	13.8%	—	13.7%	14.8%	13.1%	14.9%	15.4%	12.3%
Return on capital employed %	29.6%	—	26.4%	26.3%	23.1%	26.2%	27.9%	24.9%
Return on equity %	20.6%	—	19%	20.2%	18%	20.6%	20.8%	16.9%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Persistent Systems LimitedPERSISTENTPERSISTENT	₹84,691 Cr	₹84,691 Cr	₹15,718 Cr	₹2,881 Cr	19%	₹1,923 Cr	12.7%	34.2%	26.3%	48
Coforge LimitedCOFORGECOFORGE	₹80,837 Cr	₹81,237 Cr	₹18,152 Cr	₹3,397 Cr	17.9%	₹1,717 Cr	10.6%	22.2%	19.7%	88
Mphasis LimitedMPHASISMPHASIS	₹42,956 Cr	₹44,749 Cr	₹16,531 Cr	₹3,071 Cr	18.8%	₹1,910 Cr	11.7%	24.7%	18.3%	58
Hexaware Technologies LimitedHEXTHEXT	₹29,966 Cr	₹29,966 Cr	₹14,420 Cr	₹2,155 Cr	14.2%	₹1,344 Cr	10.2%	—	—	—
Tata Elxsi LimitedTATAELXSITATAELXSI	₹19,268 Cr	₹19,268 Cr	₹3,886 Cr	₹876 Cr	22.5%	₹655 Cr	16.7%	29.9%	21.3%	-54
Fractal Analytics LimitedFRACTALFRACTAL	₹12,510 Cr	₹12,796 Cr	₹3,300 Cr	₹508 Cr	15.4%	₹292 Cr	8.7%	15.3%	11.8%	61
Rategain Travel Technologies LimitedRATEGAINRATEGAIN	₹9,953 Cr	₹10,875 Cr	₹2,336 Cr	₹459 Cr	18.5%	₹242 Cr	10.7%	13.8%	10.5%	36
Zensar Technologies LimitedZENSARTECHZENSARTECH	₹9,881 Cr	₹9,881 Cr	₹5,811 Cr	₹926 Cr	16.1%	₹776 Cr	13.6%	23%	17.6%	31
ASM Technologies LtdASMTECASMTEC	₹9,641 Cr	₹9,754 Cr	₹529 Cr	₹101 Cr	19.1%	₹26 Cr	11.5%	33.3%	25.7%	202
Intellect Design Arena LimitedINTELLECTINTELLECT	₹8,566 Cr	₹8,566 Cr	₹3,182 Cr	₹603 Cr	19.1%	₹351 Cr	11.3%	15.6%	11.6%	46
Birlasoft LimitedBSOFTBSOFT	₹7,542 Cr	₹7,551 Cr	₹5,404 Cr	₹930 Cr	16.3%	₹573 Cr	9.8%	21.2%	13.7%	63
Sonata Software LimitedSONATSOFTWSONATSOFTW	₹7,124 Cr	₹7,692 Cr	₹11,015 Cr	₹752 Cr	6.9%	₹463 Cr	4.3%	32.4%	25.7%	-19

Date	Category	Subject	Filing
21 Jul 2026, 4:14 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
17 Jul 2026, 12:06 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
16 Jul 2026, 7:41 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome	PDF
16 Jul 2026, 2:01 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF
16 Jul 2026, 1:59 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
16 Jul 2026, 12:54 pm	Company Update General	Authorization Of Key Managerial Personnel To Determine Materiality Of Events Or Information	PDF
16 Jul 2026, 12:51 pm	Result Financial Results	Results-Financial Results For The Quarter Ended 30Th June 2026	PDF
16 Jul 2026, 12:47 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of Board Meeting Held On 16Th July 2026	PDF

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	36	60	102	90	216	143	136	281	215	232
	-4	-18	-85	-104	-143	-81	-94	-219	-172	-162
	-21	68	-5	-47	-102	-32	-44	-48	-68	-87
Net cash flow	12	110	12	-61	-30	30	-2	15	-25	-18
Free cash flow	—	41	30	—	204	130	120	268	192	222
CFO / Operating profit %	—	61.8%	80%	86.1%	112.4%	73.3%	64.3%	97.6%	57.2%	57.1%

Newgen Software 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

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

9

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

APAC · revenue

Newgen Software 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

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Dividends9

Board meetings1

Bonus issues1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

APAC · revenue

9

1

1