ESDS Software Solution Ltd
ESDS delivers India's enterprise cloud,
GPU, data centre and AI infrastructure,
built in India and governed by Indian
law.[1]
- Market Cap ₹ 15,145 Cr.
- Current Price ₹ 1,292
- High / Low ₹ 1,864 / 746
- Stock P/E 226
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 17.7 %
- ROE 13.7 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 47.6% CAGR over last 5 years
Cons
- Company has a low return on equity of 13.2% over last 3 years.
* 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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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 172 | 193 | 201 | 281 | 357 | 378 | |
| 108 | 136 | 153 | 185 | 204 | 221 | |
| Operating Profit | 64 | 58 | 48 | 96 | 154 | 157 |
| OPM % | 37% | 30% | 24% | 34% | 43% | 41% |
| 3 | 5 | -0 | 6 | 16 | 9 | |
| Interest | 18 | 17 | 23 | 27 | 22 | 12 |
| Depreciation | 37 | 42 | 46 | 49 | 61 | 63 |
| Profit before tax | 12 | 3 | -21 | 25 | 87 | 91 |
| Tax % | 27% | 34% | -28% | 34% | 30% | 31% |
| 9 | 2 | -15 | 16 | 61 | 62 | |
| EPS in Rs | 16.68 | 0.23 | -1.62 | 1.77 | 6.05 | 6.19 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 23% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 48% |
| 3 Years: | 101% |
| TTM: | 2% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 9% |
| 3 Years: | 13% |
| Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 5 | 9 | 9 | 9 | 10 | |
| Reserves | 192 | 211 | 226 | 246 | 443 | |
| 116 | 192 | 151 | 225 | 127 | ||
| 157 | 103 | 110 | 62 | 111 | ||
| Total Liabilities | 470 | 515 | 495 | 543 | 691 | |
| 211 | 298 | 203 | 321 | 353 | ||
| CWIP | 3 | 0 | -0 | -0 | -0 | |
| Investments | 0 | 0 | 0 | 0 | 43 | |
| 256 | 217 | 292 | 222 | 295 | ||
| Total Assets | 470 | 515 | 495 | 543 | 691 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 46 | 32 | 55 | 79 | 122 | ||
| -55 | -63 | -53 | -27 | -109 | ||
| 22 | 52 | -20 | -67 | 5 | ||
| Net Cash Flow | 14 | 20 | -18 | -14 | 18 | |
| Free Cash Flow | -7 | -24 | -0 | 56 | 9 | |
| CFO/OP | 64% | 73% | 113% | 77% | 84% |
Ratios
Standalone / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 100 | 184 | 159 | 154 | 145 | |
| Inventory Days | ||||||
| Days Payable | ||||||
| Cash Conversion Cycle | 100 | 184 | 159 | 154 | 145 | |
| Working Capital Days | -86 | -14 | 109 | 153 | 143 | |
| ROCE % | 6% | 2% | 12% | 21% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Transcript of Earnings Conference Call held on September 25, 2026.
-
Announcement under Regulation 30 (LODR)-Credit Rating
- India Ratings upgraded ESDS bank loan facilities to IND A/Stable/IND A1 on September 29, 2026.
- Closure of Trading Window
-
Board Meeting Outcome for Outcome Of The Board Meeting
- ESDS approved Q1FY27 standalone/consolidated results; listed on BSE/NSE on September 4, 2026; unmodified review report.
-
Extension Of Time For Holding The Annual General Meeting For FY 2025-26
- ROC approved AGM extension for FY 2025-26 until November 30, 2026.
Concalls
-
Sep 2026Transcript REC
Business Overview: [1]
ESDS Software Solution, incorporated
in 2005, provides AI-enabled cloud,
managed services, data centre infra
structure and software solutions. The
business is organised into 3 service lines: Infrastructure as a Service (IaaS), Managed Services and Software as a Service (SaaS).
Its customer base spans BFSI, Government
and PSUs, and enterprises. ESDS was one
of only 2 players in India offering cloud, managed services, data centre infrastructure and software solutions across the entire spectrum.