Vakrangee Limited (VAKRANGEE)

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Vakrangee Limited (VAKRANGEE) · mywealthgrid

About

Small-cap IT Enabled Services company with quarterly revenue of ₹43–70 Cr and ₹641.25 Cr market cap. Operating margins are tight (10.86%) and shareholder returns weak (ROE 5.42%). Stock has fallen 33.93% over the past year to ₹5.86, trading near 52-week lows.

Face value: ₹1

Market cap

₹555 Cr

P/E

51.9×

P/B

2.6×

Dividend yield

ROE

5.4%

ROCE

6.9%

Debt / equity

0.02

OPM

10.9%

EPS (TTM)

₹0.1

Book value

₹2.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation disconnect: PE of 59.99 severely misaligned with current profitability (ROE 5.42%, OPM 10.86%); stock down 33.93% YoY raises question of multiple compression if earnings do not grow
Earnings volatility: quarterly revenue swings ₹43–70 Cr (60% variance) and OPM ranges 8.42%–17.37%; verify if this reflects customer or project concentration, or cyclical sector exposure
Recent margin deterioration: OPM fell from 17.37% (Dec 2025) to 8.42% (Mar 2026); clarify if temporary project mix or signals structural pricing or cost pressure
Small-cap scale: ₹641 Cr market cap on estimated ₹200+ Cr annual revenue; verify competitive positioning and customer concentration vs. larger peers

Generated analysis · source review pending

Growth drivers

Margin improvement: achieved 17.37% OPM in Dec 2025 (vs 10.86% current average); if company stabilizes at 13–15%, net profit would improve from current ₹1.6–3.7 Cr quarterly levels
Non-core scaling: consolidated revenue ₹55.92 Cr (Jun 2026) exceeds standalone ₹43.59 Cr by ₹12+; if these subsidiary operations improve profitability or scale, group results strengthen
Revenue stabilization: volatile ₹43–69 Cr quarterly range creates unpredictability; verify if peak ₹69 Cr level (Sep 2025) is sustainable, as consistent ₹60+ Cr quarterly would improve capital efficiency

Generated analysis · source review pending

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

₹5.1-1.2%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 11×
+Dividend payout of 50.7% of profit

Cons

−Low return on equity of 4% (3-yr avg)
−Profit declined 29.1% a year over the last 5 years
−Revenue shrank over the last 5 years (-4.1% a year)

Research score

Structured signal from quality, growth, valuation and momentum.

38/100

Business quality: 40
Growth: 34
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 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3,191	4,000	6,502	685	314	779	197	213	255	255
COGS	—	—	5,165	558	225	587	148	154	178	168
Gross profit	—	—	1,337	127	89	192	49	59	77	87
	2,326	2,985	333	103	61	37	31	32	53	59
	—	—	1,004	24	28	155	18	26	24	28
OPM %	—	—	15.4%	3.5%	8.9%	19.9%	9.3%	12.4%	9.5%	10.9%
Depreciation	164	73	4	15	15	15	16	16	17	18
Interest	56	50	10	0	0	0	2	8	2	2
	6	5	34	83	70	2	1	3	4	7
Profit before tax	—	—	1,024	92	83	142	3	6	10	15
Tax	211	297	343	20	20	32	2	2	3	4
Tax %	—	—	33.5%	22.1%	24.2%	22.6%	62.7%	25.8%	33.4%	26.8%
	395	395	680	71	63	110	1	4	6	11
PAT margin %	12.4%	9.9%	10.5%	10.4%	20%	14.1%	0.5%	2.1%	2.5%	4.4%
EPS (₹)	5,198.3	5,292.1	6.4	0.7	0.6	1	0	0	0.1	0.1
EPS adjusted (₹)	—	—	—	—	0.6	1	0	0	0.1	0.1
	0%	0%	3.9%	37.3%	16.9%	4.9%	500%	125%	0%	—
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	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 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	106	106	106	106	108	108
Reserves	2,558	22	18	56	94	105
Minority interest	—	—	—	—	9	10
	0	27	58	12	0	4
	212	178	116	126	97	84
Total equity & liabilities	2,876	333	298	300	309	312
	156	139	127	114	74	79
CWIP	1	2	3	6	12	9
Investments	1	2	3	7	40	85
	2,717	190	165	173	182	139
Total assets	2,876	333	298	300	309	312

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 %
Vakrangee Kendra	210.37	16.24	260.47	72.75	187.72	8.65
Sale of Automated Teller Machines (‘ATM’) Products/Services	67.29	-1.05

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	20.6%	18.6%	28.4%	24.6%	25.1%	27.6%	30.3%	34%
EBITDA margin %	15.4%	3.5%	8.9%	19.9%	9.3%	12.4%	9.5%	10.9%
EBIT margin %	15.4%	1.3%	4.2%	17.9%	1.4%	5%	2.9%	3.9%
PAT margin %	10.5%	10.4%	20%	14.1%	0.5%	2.1%	2.5%	4.4%
Working capital
Receivable days	—	—	1,301	20	74	75	39	29
Inventory days	—	—	8	3	5	2	38	35
Payable days	—	—	55	17	45	46	37	37
NWC days	—	—	1,254	5	35	31	40	28
Leverage
Current ratio	—	—	10.2	0.9	1.05	1.4	2.15	1.81
Debt to EBITDA	—	—	0	0.18	3.16	0.46	0	0.14
Debt to equity	—	—	0	0.21	0.47	0.07	0	0.02
Interest coverage	100.3	—	—	—	2.8	1.7	6.2	11
Asset turnover	—	—	0.11	2.34	0.66	0.71	0.83	0.82
Return ratios
Return on assets %	—	—	2.2%	32.8%	0.3%	1.5%	2.1%	3.6%
Return on capital employed %	—	—	3.1%	10.2%	2.9%	7.6%	5.4%	6.9%
Return on equity %	—	—	2.4%	85.6%	0.8%	2.7%	3.2%	5.2%

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
	42.6%	42.6%	42.6%	41.92%	41.67%	41.67%	40.05%	40.05%	40.05%	40.05%	40.05%	40.05%
	3.98%	3.31%	3.06%	2.93%	2.75%	2.82%	3.14%	2.73%	0.82%	0.49%	0.45%	0.35%
	6.29%	6.29%	6.29%	6.18%	5.13%	4.47%	4.47%	4.47%	4.47%	4.45%	4.13%	4.05%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	47.13%	47.8%	48.05%	48.97%	50.45%	51.04%	52.34%	52.75%	54.66%	55.01%	55.37%	55.55%
No. of shareholders	—	—	—	—	—	—	—	—	4,16,518	4,09,892	4,00,734	3,93,406

Promoter holding down 2.55 percentage points since Sep 2023.

186 deals · 9 Dec 2022 – 19 Sept 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
19 Sept 2025	ISHARES MSCI INDIA SMALL-CAP ETF	Bulk	NSE	Sell	61,08,619	₹8.96	₹5.47 Cr
12 Feb 2025	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Buy	73,78,293	₹15.07	₹11.12 Cr
12 Feb 2025	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	44,20,410	₹15.31	₹6.77 Cr
10 Feb 2025	SETU SECURITIES PVT LTD	Bulk	NSE	Buy	57,14,724	₹16.76	₹9.58 Cr
10 Feb 2025	SETU SECURITIES PVT LTD	Bulk	NSE	Sell	44,68,821	₹16.81	₹7.51 Cr
7 Feb 2025	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Buy	75,00,000	₹17.58	₹13.18 Cr
7 Feb 2025	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	63,21,953	₹17.58	₹11.11 Cr
6 Feb 2025	ISHAAN TRADEFIN LLP	Bulk	NSE	Buy	86,20,212	₹19.01	₹16.39 Cr
6 Feb 2025	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Buy	67,78,591	₹18.94	₹12.84 Cr
6 Feb 2025	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	67,32,311	₹18.80	₹12.66 Cr

1–10 of 186

1 / 19

Ms. DIVYA DINESH NANDWANAExecutive Director-Chairperson related to Promoter
Mr. VEDANT DINESH NANDWANAExecutive Director-MD
Mr. HARI CHAND MITTALNon-Executive - Independent Director
Mr. KRISHNA SHAM SUNDER LAKUNDINon-Executive - Nominee Director
Ms. SAVITA DATTATRAY KENINon-Executive - Independent Director
Mr. SANDEEP JANARDAN GAWARENon-Executive - Independent Director
Mr. Aditya JaniChief Financial Officer
Mr. Amit GadgilCompany Secretary & Compliance 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 Vakrangee 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.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

39 announcementsExport CSV

29 Jul 2026, 6:05 pmCompany Update

Press Release Titled 'VAKRANGEE'S PROFIT RISES TO ?225.6 LAKH IN Q1 FY27, UP 39.3% QOQ AND CASH PROFIT UP BY 16.0%'

General

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Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	20.6%	18.6%	28.4%	24.6%	25.1%	27.6%	30.3%	34%
EBITDA margin %	15.4%	3.5%	8.9%	19.9%	9.3%	12.4%	9.5%	10.9%
EBIT margin %	15.4%	1.3%	4.2%	17.9%	1.4%	5%	2.9%	3.9%
PAT margin %	10.5%	10.4%	20%	14.1%	0.5%	2.1%	2.5%	4.4%
Working capital
Receivable days	—	—	1,301	20	74	75	39	29
Inventory days	—	—	8	3	5	2	38	35
Payable days	—	—	55	17	45	46	37	37
NWC days	—	—	1,254	5	35	31	40	28
Leverage
Current ratio	—	—	10.2	0.9	1.05	1.4	2.15	1.81
Debt to EBITDA	—	—	0	0.18	3.16	0.46	0	0.14
Debt to equity	—	—	0	0.21	0.47	0.07	0	0.02
Interest coverage	100.3	—	—	—	2.8	1.7	6.2	11
Asset turnover	—	—	0.11	2.34	0.66	0.71	0.83	0.82
Return ratios
Return on assets %	—	—	2.2%	32.8%	0.3%	1.5%	2.1%	3.6%
Return on capital employed %	—	—	3.1%	10.2%	2.9%	7.6%	5.4%	6.9%
Return on equity %	—	—	2.4%	85.6%	0.8%	2.7%	3.2%	5.2%

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
29 Jul 2026, 6:05 pm	Company Update General	Press Release Titled 'VAKRANGEE'S PROFIT RISES TO ?225.6 LAKH IN Q1 FY27, UP 39.3% QOQ AND CASH PROFIT UP BY 16.0%'	PDF
29 Jul 2026, 5:57 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of Board Meeting Held On July 29, 2026	PDF
24 Jul 2026, 2:06 pm	Board Meeting	Board Meeting Intimation for Notice Of Board Meeting To Be Held On July 29, 2026	PDF
24 Jun 2026, 5:57 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
29 Apr 2026, 2:10 pm	Company Update General	RESULTS PERFORMANCE UPDATE PRESENTATION - 'Q4 & FULL YEAR FY2025-26 RESULTS UPDATE'	PDF
29 Apr 2026, 2:08 pm	Company Update General	Press Release Titled - Vakrangee'S Profit Surges To ?11.1 Crore In FY26, Up 79.3% Yoy And Cash Profit Up By 25.4%	PDF
29 Apr 2026, 2:00 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Vakrangee Limited Has Submitted To The Exchange, Audited (Standalone & Consolidated) Financial Results For The Quarter/Year Ended March 31, 2026	PDF
24 Apr 2026, 11:48 am	Board Meeting	Board Meeting Intimation for Notice Of Board Meeting To Be Held On April 29, 2026	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	272	669	530	-708	-51	-31	48	-42	31	-21	61
	-9	54	-99	35	68	50	1	-5	-7	-12	-57
	-112	-142	-137	-32	-30	-26	-10	25	-9	30	-1
Net cash flow	151	581	294	-705	-13	-7	39	-22	15	-3	2
Free cash flow	258	658	459	-781	-72	-52	41	-50	24	-35	45
CFO / Operating profit %	—	—	52.8%	—	-212.3%	-109.5%	31.3%	-227.3%	117.9%	-85.4%	221%

Vakrangee 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

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

18

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Sale of ATM products/ services · revenue

Vakrangee 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

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Dividends18

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Sale of ATM products/ services · revenue

18

1

1