Investor presentationJul 2026
Jul 2026 · PPT
Source: Nse
Delaplex Ltd. (DELAPLEX)
SME CapIT stocks · SME cap · NSE
Delaplex Ltd. is a business technology consultancy and services firm with 18+ years of expertise, over 400 associates globally, and development centers in India. It focuses on digital transformation, AI, Data, Cloud, Supply Chain, and Edge Infrastructure solutions, serving Fortune 500 clients and expanding its presence in North America and India.
₹155.7
-17.30 · -10.00%
Market cap ₹158 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:01 pm ISTDetails
Quote19 Oct, 03:01 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result01 Jun, 07:52 pm IST
Score19 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.1 (n=204)
Technical timing lens
Trend score and candlestick chart
79BullishSMA20 +9.6% / mo · RSI overbought · MACD + · near 52W high · sector +14.2pp vs Nifty 500 (3M)
Stock trend: 66
Sector RS: 100
Sector 3M: +8.5% vs Nifty 500 -5.7%
IT FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
DELAPLEXW candles · FIT view-22.9%Latest close ₹173.00 on 2026-10-12
Bar
+76.9%
RSI
73
MACD hist
5.68
52W pos
93%
2026-10-12O ₹97.80H ₹180.05L ₹97.80C ₹173.00Vol 7.0L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
DELAPLEXNifty ITNifty 500
- DELAPLEX
- +69.7%
- Nifty 500
- -4.2%
- Nifty IT
- +11.1%
- Vs Nifty 500
- +73.9 pp
Chart stats
16 Oct 2026- From 52W high
- -11.2%
- 52W range position
- 81%
- ATR (14)
- 5.5%
- Volume vs 20D
- 3.90x
- Avg traded value
- ₹0.6 Cr
- 20D price channel
- ₹85.1 - ₹180.1
₹194.9
₹80 - ₹194.9
₹9.5
Latest completed session
20-session average
105.6% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · FAIR VALUE51
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Bullish79
Price trend and sector-relative-strength timing.
Valuation
Legacy model+47.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence72
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹32 Cr | NDF | -13.5% |
| EBITDA | ₹6 Cr | NDF | -14.3% |
| Operating margin | 18.0% | NDF | -200 bps |
| PAT | ₹6 Cr | NDF | -14.3% |
| PAT margin | 18.8% | NDF | -17 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 12.30
- P/B
- 1.75
- EV/EBITDA
- 11.29
- Market Cap
- 158.00Cr
Profitability
- ROE
- 15.70%
- ROCE
- 20.10%
- ROA
- 13.98%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 1.47%
- EPS 5Y
- 8.33%
- Revenue 3Y
- 1.47%
- EPS 3Y
- 8.33%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- —
- Altman Z
- 8.77
- Book Value
- 98.80
Cash Flow
- FCF Yield
- 1.90%
- FCF Positive Y
- 1/5
- OCF
- 14.00 Cr
- EPS TTM
- 14.09
Shareholding
- Promoter Hold
- 74.25%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 93%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 32.0-13.5% vs prev
Net Profit
₹ CrLatest: 6.0-14.3% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Weekly technical trend read
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 73. Wait for confirmation.
- SMA20 falling (~1.9% over last month) — short-term momentum negative.
- RSI(14) at 73 — overbought zone; risk of mean reversion.
- MACD above signal, histogram expanding — bullish momentum building.
- 4% off 52W high · 116% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
85
RS percentile
Stage 1 Base / Transition
1M return
+74.8%
3M return
+73.7%
6M return
+66.3%
1Y return
-3.0%
RS 1D
+3
RS 20D
+54
Sector rank
#9
Industry rank
#39
Stage evidence
- Price is 67.9% above the 30-week proxy without full trend alignment.
- The 30-week proxy changed -0.1% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price above
200-DMA
price above
Sector
improving
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
253 observations
16 Oct 2026Value 123.55+5.26%
RS vs Nifty 500124
Valuation & peers
U-Score 51 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 51 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · FAIR VALUEValuation23/30
Growth9/25
Quality11/20
Balance Sheet10/15
Cash Flow2/10
Piotroski
8/9 (+5)
Penalties
-9
Raw sum
51
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
51/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 47.0%.
- Valuation contributes 23/30 to the score.
Main drags
- Penalty bucket subtracts 9 points.
- Cash flow is weaker at 2/10; verify the latest quarterly trend.
- Growth is weaker at 9/25; verify the latest quarterly trend.
Sector valuation model
IT valuation: PE and EV/EBITDA against growth and margins
Asset-light IT companies deserve valuation support only when growth, margins, and cash conversion hold up.
Primary lens
PE and EV/EBITDA relative to revenue growth, margins, and cash conversion.
Secondary checks
Deal pipeline, attrition, dollar revenue growth, FCF yield.
Main risk check
Low PE can reflect weak growth or margin pressure.
PE
12.3
PB
1.8
EV/EBITDA
11.3
ROE
15.7%
ROCE
20.1%
FCF Yield
1.9%
Debt/Equity
0.0
MoS
+47.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 19 Oct 2026
v4.3-runtime-valuation
Final score
51
Previous: 49 (+2)
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+47.0%
Previous: +41.1%
Score history
12 stored score snapshots. Latest stored move: +1 points.
19 Oct 2026
v4.3-runtime-valuation
64
64
64
64
63
63
59
59
48
48
48
49
Factor attribution
Valuation
23+2
was 21
Modelled fair value
Graham Number
₹176.98
+12.0% MoS
Growth-justified P/E
20.9
Growth-justified Value
₹293.92
+47.0% MoS
PEG
1.48
Comparable companies
Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
RICHA
SME
Richa Info Systems Ltd.
IT Services / Digital
match 157
52
14.8
6.4%
+49%
FAIR VALUE
TECHLABS
SME
Trident Techlabs Ltd.
IT Services / Digital
match 156
35
32.4
10.1%
+5%
WATCHLIST
MACOBSTECH
SME
Macobs Technologies Ltd.
IT Services / Digital
match 156
22
65.5
8.3%
-108%
OVERVALUED
ENFUSE
SME
Enfuse Solutions Ltd.
IT Services / Digital
match 155
13
—
-56.3%
—
OVERVALUED
FIDEL
SME
Fidel Softech Ltd.
IT Services / Digital
match 154
55
18.2
25.8%
+41%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-08-16T07:28:27.682Z
Management commentary snapshot
FY26 consolidated revenue grew 4.2% YoY to ₹730.7 Mn, with PAT up 6.4% YoY to ₹129.1 Mn. H2 FY26 revenue increased 3.66% YoY to ₹340.4 Mn, but PAT declined 0.8% YoY to ₹57.1 Mn, with margins contracting 76 bps.
Delaplex delivered modest full-year revenue and PAT growth in FY26, driven by acquisitions and BSNL initiatives. H2 saw revenue growth but a slight PAT decline due to sales team expansion and new business line establishment, impacting margins. Management's focus on AI, Micro Data Centers, and market expansion is key.
Growth engines
Next-Gen Tech & Infrastructure Capabilities
Capitalizing on digital transformation by blending advanced AI, Cloud, DevOps with cutting-edge Micro Data Center innovations.
Niche Supply Chain Expertise
Driving enterprise value through high-demand, end-to-end omni-channel supply chain consulting.
High-Growth Market Focus
Targeting the underserved mid-market and SME segments with agile, high-margin software solutions.
Predictable Revenue Engines
Securing long-term cash flow visibility through exceptional client retention and sticky, long-standing partnerships.
Capacity and execution
New Strategic Consulting Division
Established a new consulting division in Hyderabad to accelerate services-delivery growth.
EMEA Footprint Expansion
Incorporated Delaplex Software Limited (UK) and acquired a UK-based developer, establishing an EMEA footprint.
Acquisition of Celestia Crew Consultancy
Acquired Bengaluru-based WFM & HRMS consulting firm, enhancing offerings and product mix.
Tailwinds
Accelerated Digital Transformation Investments
Organizations continue to accelerate investments in digital transformation, automation, and data-driven decision making.
Growing AI Adoption
AI-related revenues are estimated at USD 10–12 billion in FY26, reflecting a shift from pilot projects to scaled enterprise deployments.
India Data Centre Market Growth
India's data centre capacity is expected to increase from ~1.4 GW in 2025 to over 4.5 GW by 2030, with over USD 25-30 billion investments.
Strategic Partnership with BSNL
Empaneled as National Level DCSP and System Integrator with BSNL to deploy Micro Data Center solutions across India.
Headwinds
H2 FY26 PAT Margin Contraction
PAT margin declined 76 bps to 16.8% in H2 FY26 due to sales team expansions across APAC and increased sales efforts for new business lines.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
The company provides both full-year (FY26 vs FY25) and half-year (H2 FY26 vs H2 FY25) comparisons, as well as H2 FY26 vs H1 FY26, which are useful for assessing both annual performance and sequential momentum and margin trends.
Sector KPIs management disclosed
Total Income (FY26)
Total Income stood at ₹730.7 Mn in FY26 as against ₹701.0 Mn in FY25, a 4.2% YoY increase.
EBITDA (FY26)
EBITDA for FY26 was ₹171.2 Mn as against ₹159.6 Mn for FY25, a 7.2% YoY increase.
PAT (FY26)
FY26 PAT was ₹129.1 Mn as against PAT of ₹121.4 Mn in FY25, a 6.4% YoY increase.
EBITDA Margin (H2 FY26)
EBITDA Margin was 23.3% in H2 FY26, down from 23.9% in H2 FY25.
Management forward view
Evolution into Technology-Led Partner
FY26 was a landmark year as Delaplex continued its evolution into a technology-led digital transformation partner with growing capabilities across AI, Data, Cloud, Supply Chain and Edge Infrastructure solutions.
Well-Positioned for Opportunities
Delaplex is well-positioned to capitalize on digital transformation opportunities through its differentiated service offerings, proprietary IP portfolio, and global delivery capabilities.
Commitment to Long-Term Value
With a strong balance sheet, growing domestic revenue contribution, expanding client relationships, and a robust opportunity pipeline, we remain committed to creating sustainable long-term value.
Market Expansion and Innovation
Targeting Europe, Middle East, Africa, and Pan-India expansion of Micro Data Centers through BSNL partnership, alongside launching new AI-driven solutions and proprietary MDC technology.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Domestic Revenue Contribution | 38.7% of total revenue in FY26 | Continued strong YoY growth in domestic sales and increasing contribution to total revenue. |
| EBITDA Margin | 23.4% in FY26, 23.3% in H2 FY26 | Stabilization and improvement in margins, especially after investments in sales teams and new business lines. |
| Micro Data Center (MDC) Project Execution | Strategic contracts with PSU Bank (Mumbai) and Pondicherry Government, BSNL partnership underway. | Successful commissioning and ramp-up of MDC projects, particularly with BSNL and other public sector clients. |
| Client Retention | >85% for 4+ years, >90% overall | Maintenance of high client retention rates, indicating sustained demand and service quality. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
72Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 69th percentile of the scored universe and 64th percentile within IT. Main check: cash conversion is weak at 53/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
5 docs text-extracted · 1 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
69th percentile
overall median 67 · IT: 64th pctile, median 69 · SME: 87th pctile, median 64
Evidence depth
Financial-only
5 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
53
watch · profit to cash conversion
Balance sheet
88
strong · leverage and solvency
Discipline
74
acceptable · capital discipline
Results
63
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 74.3%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 3.3%.
- ▸Debt/equity is 0.00.
Trust risks
- ▸Only 1 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Delaplex Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
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All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.