B2B Software Technologies Ltd

₹ 25.4 1.85%

20 May 9:28 a.m.

About

Incorporated in 1994, B2B Software Technology Ltd develops and launches own products (certified by Microsoft) which works on Microsoft Dynamics ERP Software^[1]

Key Points

Business Overview:^[1]^[2]
B2B Software Technologies Ltd (B2BSTL) is a Gold Certified Microsoft Partner specializing in Microsoft Dynamics ERP implementation for mid-to-large enterprises. The company provides offshore and onsite solution development, including proprietary add-ons for Quality, HR & Payroll, Plant Maintenance, and Life Sciences on the NAV and AX platforms.

Website BSE

Market Cap ₹ 44.0 Cr.
Current Price ₹ 25.4
High / Low ₹ 38.0 / 15.8
Stock P/E 19.2
Book Value ₹ 13.4
Dividend Yield 2.63 %
ROCE 14.8 %
ROE 10.3 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Debtor days have improved from 36.8 to 24.8 days.

Cons

Promoter holding has decreased over last quarter: -2.86%
The company has delivered a poor sales growth of 6.92% over past five years.
Company has a low return on equity of 10.2% over last 3 years.
Earnings include an other income of Rs.1.48 Cr.
Working capital days have increased from 134 days to 400 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	3.94	2.63	3.43	2.97	4.89	3.41	4.16	3.28	4.29	3.19	4.23	4.53	4.13
	3.13	2.71	3.41	2.63	4.08	2.63	3.92	2.96	3.95	2.97	3.65	3.44	4.07
Operating Profit	0.81	-0.08	0.02	0.34	0.81	0.78	0.24	0.32	0.34	0.22	0.58	1.09	0.06
OPM %	20.56%	-3.04%	0.58%	11.45%	16.56%	22.87%	5.77%	9.76%	7.93%	6.90%	13.71%	24.06%	1.45%
	0.17	0.33	0.29	0.34	0.38	0.37	0.41	0.36	0.35	0.60	0.25	0.46	0.16
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.05	0.04	0.04	0.05	0.05	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.04
Profit before tax	0.93	0.21	0.27	0.63	1.14	1.12	0.62	0.65	0.66	0.79	0.80	1.52	0.18
Tax %	-8.60%	66.67%	0.00%	28.57%	21.05%	4.46%	61.29%	7.69%	22.73%	25.32%	35.00%	28.29%	44.44%
	1.02	0.08	0.27	0.46	0.91	1.07	0.24	0.59	0.50	0.59	0.52	1.10	0.10
EPS in Rs	0.59	0.05	0.16	0.26	0.52	0.61	0.14	0.34	0.29	0.34	0.30	0.63	0.06
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5.46	6.55	6.65	7.71	7.90	10.56	11.50	14.55	13.40	13.92	15.14	16.07
	4.84	5.42	5.55	7.04	8.23	10.19	10.02	11.65	11.47	12.82	13.44	14.12
Operating Profit	0.62	1.13	1.10	0.67	-0.33	0.37	1.48	2.90	1.93	1.10	1.70	1.95
OPM %	11.36%	17.25%	16.54%	8.69%	-4.18%	3.50%	12.87%	19.93%	14.40%	7.90%	11.23%	12.13%
	0.27	0.34	0.41	0.44	0.69	0.82	0.91	0.57	0.75	1.34	1.46	1.48
Interest	0.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.12	0.13	0.16	0.12	0.12	0.11	0.10	0.07	0.11	0.16	0.13	0.13
Profit before tax	0.73	1.34	1.35	0.99	0.24	1.08	2.29	3.40	2.57	2.28	3.03	3.30
Tax %	0.00%	0.00%	0.00%	37.37%	20.83%	22.22%	19.21%	26.47%	11.67%	24.12%	20.79%	30.00%
	0.73	1.34	1.36	0.62	0.20	0.84	1.85	2.50	2.27	1.72	2.40	2.30
EPS in Rs	0.42	0.77	0.78	0.36	0.11	0.48	1.06	1.44	1.30	0.99	1.38	1.32
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	50.39%

Compounded Sales Growth
10 Years:	9%
5 Years:	7%
3 Years:	6%
TTM:	6%

Compounded Profit Growth
10 Years:	6%
5 Years:	5%
3 Years:	1%
TTM:	-3%

Stock Price CAGR
10 Years:	12%
5 Years:	7%
3 Years:	12%
1 Year:	21%

Return on Equity
10 Years:	12%
5 Years:	12%
3 Years:	10%
Last Year:	10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	11.59	11.59	11.59	11.59	11.59	11.59	11.59	11.59	11.59	11.59	11.59	11.59
Reserves	-6.56	-5.22	-4.04	-3.19	-2.61	-1.41	0.86	3.73	5.89	7.60	9.79	11.74
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	1.31	1.51	1.64	2.31	2.33	2.95	2.15	1.96	1.86	2.81	2.89	3.09
Total Liabilities	6.34	7.88	9.19	10.71	11.31	13.13	14.60	17.28	19.34	22.00	24.27	26.42
	0.27	0.26	0.25	0.22	0.22	0.20	0.14	0.12	0.37	0.31	0.23	0.28
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	1.07	2.65	3.58	6.47	6.92	7.49	10.08	11.53	13.44	14.22	16.83	18.35
	5.00	4.97	5.36	4.02	4.17	5.44	4.38	5.63	5.53	7.47	7.21	7.79
Total Assets	6.34	7.88	9.19	10.71	11.31	13.13	14.60	17.28	19.34	22.00	24.27	26.42

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	0.55	1.91	1.37	0.74	0.44	1.06	0.73	1.87	1.73	1.37	1.48	2.77
	-0.42	-1.58	-0.90	-2.73	-0.15	-0.10	-2.00	-0.98	-1.61	0.08	-1.86	0.25
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.16
Net Cash Flow	0.13	0.33	0.47	-1.98	0.29	0.96	-1.26	0.89	0.12	1.46	-0.37	1.86
Free Cash Flow	0.29	1.79	1.23	0.64	0.32	0.97	0.73	1.82	1.40	1.27	1.42	2.59
CFO/OP	89%	169%	125%	110%	-133%	286%	49%	64%	90%	125%	87%	142%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	76.21	37.34	29.64	49.23	52.67	42.17	43.48	40.14	34.32	48.77	36.89	24.76
Inventory Days	16.10	16.59	19.21	17.11	12.17	4.10	9.46	8.88	12.39	17.06	23.63	32.59
Days Payable	80.51	132.73	134.47	91.25	106.46	75.19	89.22	25.52	6.76	29.56	1.31	3.26
Cash Conversion Cycle	11.80	-78.80	-85.62	-24.91	-41.62	-28.92	-36.28	23.50	39.95	36.26	59.21	54.09
Working Capital Days	18.72	-15.60	-27.44	-24.62	-31.42	5.18	4.13	13.04	9.81	3.93	-0.72	400.21
ROCE %	16.03%	23.51%	19.40%	12.41%	2.76%	11.27%	19.89%	24.49%	15.43%	11.18%	14.79%	14.76%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Number of Permanent Employees
Count

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Total Client Engagements
Count

Add-on Software Sales
Count

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Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Apr 2026
	69.79%	69.36%	68.26%	64.34%	60.05%	59.83%	59.83%	62.66%	62.46%	62.46%	59.59%	59.59%
	25.03%	25.45%	26.54%	30.47%	34.76%	34.98%	34.99%	36.63%	36.84%	36.84%	37.47%	37.48%
	5.18%	5.18%	5.18%	5.18%	5.18%	5.18%	5.18%	0.70%	0.70%	0.70%	2.93%	2.93%
No. of Shareholders	6,350	6,817	6,971	7,413	8,350	8,165	8,137	8,011	8,031	7,860	8,504	9,038

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Apr 2026
	73.60%	73.60%	73.60%	73.60%	73.42%	69.79%	69.79%	68.26%	59.83%	59.59%	59.59%
	26.40%	26.40%	26.40%	26.40%	26.58%	30.21%	25.03%	26.54%	34.99%	37.47%	37.48%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.18%	5.18%	5.18%	2.93%	2.93%
No. of Shareholders	1,758	1,806	1,835	1,870	2,254	6,965	6,667	6,971	8,137	8,504	9,038

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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B2B Software Technologies Ltd

B2B Software Technologies Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports