Investor presentation
Updates 25 May - EnFuse Solutions FY25-26 presentation reports 33% consolidated revenue growth to ₹5,811.90 lakh.
Source: Nse
Enfuse Solutions Ltd. (ENFUSE)
SME CapIT stocks · SME cap · NSE
EnFuse provides integrated solutions in Data Management, ECommerce, Machine Learning, AI & Edtech, serving Technology, BFSI, Retail, Fintech, Media, Entertainment, Health, Education industries. It offers a diverse suite from Data as a Service to software solutions, has 650+ employees, two delivery centers, and 53% revenue from exports.
₹142
-5.00 · -3.40%
Market cap ₹130 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result01 Jun, 07:52 pm IST
Score22 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
56Neutralfull bear SMA stack · SMA20 -7.8% / mo · MACD + · near 52W low · sector +19.3pp vs Nifty 500 (3M)
Stock trend: 26
Sector RS: 100
Sector 3M: +13.7% vs Nifty 500 -5.6%
IT FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
ENFUSED candles · FIT view-25.7%Latest close ₹142.00 on 2026-10-21
Bar
+0.0%
RSI
43
MACD hist
0.09
52W pos
3%
2026-10-21O ₹142.00H ₹142.00L ₹142.00C ₹142.00Vol 600 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
ENFUSENifty ITNifty 500
- ENFUSE
- -13.9%
- Nifty 500
- -6.5%
- Nifty IT
- +12.0%
- Vs Nifty 500
- -7.4 pp
Chart stats
21 Oct 2026- From 52W high
- -50.0%
- 52W range position
- 3%
- ATR (14)
- 5.5%
- Volume vs 20D
- 0.49x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹138 - ₹160
₹284
₹138 - ₹284
₹7.9
Latest completed session
20-session average
82.2% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED13
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Neutral56
Price trend and sector-relative-strength timing.
Valuation
Legacy model—
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence59
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 | ₹27 Cr | NDF | -12.9% |
| EBITDA | ₹-2 Cr | NDF | +60.0% |
| Operating margin | -7.0% | NDF | +700 bps |
| PAT | ₹-7 Cr | NDF | NDF |
| PAT margin | -25.9% | NDF | +310 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- —
- P/B
- 6.59
- EV/EBITDA
- 159.00
- Market Cap
- 130.00Cr
Profitability
- ROE
- -56.30%
- ROCE
- -22.00%
- ROA
- -27.27%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 34.88%
- EPS 5Y
- —
- Revenue 3Y
- 34.88%
- EPS 3Y
- —
Balance Sheet
- Debt/Equity
- 1.45
- Interest Coverage
- -2.00×
- Altman Z
- 3.33
- Book Value
- 22.30
Cash Flow
- FCF Yield
- 1.54%
- FCF Positive Y
- 1/5
- OCF
- 6.00 Cr
- EPS TTM
- -17.42
Shareholding
- Promoter Hold
- 70.62%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 7%
Financial History
Updated 22/10/2026
Revenue
₹ CrLatest: 58.0+34.9% vs prev
Net Profit
₹ CrLatest: -15.0-600.0% vs prev
Return on Equity
%Latest: -75.0-975.1% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend unclear. RSI 43.
- SMA20 falling (~8.5% over last month) — short-term momentum negative.
- RSI(14) at 43 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- Within 5% of 52-week low — testing support.
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
21
RS percentile
Stage 4 Downtrend
1M return
-8.4%
3M return
-11.3%
6M return
-26.8%
1Y return
-34.6%
RS 1D
-3
RS 20D
+12
Sector rank
#7
Industry rank
#37
Stage evidence
- Price is 19.0% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -4.9%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
improving
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
213 observations
21 Oct 2026Value 72.16-1.49%
RS vs Nifty 50072
Valuation & peers
U-Score 13 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 13 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation2/30
Growth9/25
Quality0/20
Balance Sheet6/15
Cash Flow2/10
Piotroski
4/9 (+1)
Penalties
-7
Raw sum
13
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
13/100 · legacy band OVERVALUED
Positive drivers
- Balance sheet contributes 6/15 to the score.
- Growth contributes 9/25 to the score.
- Cash flow contributes 2/10 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Valuation is weaker at 2/30; 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
—
PB
6.6
EV/EBITDA
159.0
ROE
-56.3%
ROCE
-22.0%
FCF Yield
1.5%
Debt/Equity
1.4
MoS
—
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: 22 Oct 2026
v4.3-runtime-valuation
Final score
13
Previous: 13
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
—
No stored baseline yet
Score history
12 stored score snapshots. Latest stored move: +0 points.
22 Oct 2026
v4.3-runtime-valuation
13
13
13
13
13
13
13
13
13
13
13
13
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
—
Growth-justified P/E
7.4
Growth-justified Value
—
— MoS
PEG
—
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
DTL
SME
Diensten Tech Ltd.
IT Services / Digital
match 157
4
37.8
4.1%
-851%
OVERVALUED
RICHA
SME
Richa Info Systems Ltd.
IT Services / Digital
match 155
52
14.8
6.4%
+50%
FAIR VALUE
PARAMATRIX
SME
Paramatrix Technologies Ltd.
IT Services / Digital
match 155
15
24.8
4.0%
-580%
OVERVALUED
MACOBSTECH
SME
Macobs Technologies Ltd.
IT Services / Digital
match 155
22
65.5
8.3%
-103%
OVERVALUED
DELAPLEX
SME
Delaplex Ltd.
IT Services / Digital
match 155
52
12.3
15.7%
+50%
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 under stressReviewed 2026-07-04T07:45:39.516Z
Management commentary snapshot
Enfuse Solutions reported 33% consolidated revenue growth to ₹5,811.90 lakh in FY25-26, driven by business momentum. However, the company posted a consolidated loss of ₹1,541.07 lakh, primarily due to planned investments in manpower, delivery capacity, emerging tech, and accounting provisions.
While revenue growth is strong, the significant consolidated loss in FY25-26 raises concerns about profitability and cost management. Management attributes the loss to strategic investments and accounting provisions, but the magnitude requires close monitoring of future operating leverage and return on these investments.
Current business mix
Standalone Revenue by Segment (FY2025-26)
Latest issuer-disclosed distribution across 4 reported categories.
Edtech & Technology Solution44.0%
Machine Learning & AI38.0%
Data Management & Analytics11.0%
E-Commerce & Digital Services6.0%
Growth engines
AI & Data Operations
Enabling enterprises to become AI-ready through structured data, governance, and AI lifecycle support.
Digital Experience & Personalization
Driving customer-centric transformation through integrated digital, analytics, and experience platforms.
Trust, Compliance & Digital Verification Services
Building next-generation capabilities in Proctoring, eKYC, and secure digital operations.
Government Vertical (PACS Digitisation)
PACS Digitisation program progressing towards completion, reinforcing ability to manage large, complex national initiatives.
Capacity and execution
Delivery Centers
2nd Delivery Center and 3rd Delivery Center added in 2025-26.
Manpower & Technology Investments
Planned investments in manpower, delivery capacity, and emerging technology capabilities in FY25-26.
Tailwinds
Global Business Transformation
Driven by Artificial Intelligence, data-led decision making, and increasing need for trusted digital operations.
Deepening Client Relationships
Focus on deepening relationships with existing clients while selectively expanding global footprint.
Innovation as Growth Multiplier
Continued investment in proprietary capabilities and platforms, including AI-led initiatives integrated into client solutions.
Headwinds
Near-term Profitability Impact
Planned investments in manpower, delivery capacity, and emerging technology capabilities had a near-term impact on profitability.
Elevated Investments
The past year saw elevated investments in talent and capability building, which management views as strategic and necessary.
Risk radar
Profitability from Investments
Investments had a near-term impact on profitability; future operating leverage is expected but not yet realized.
Execution of Strategic Shift
Company is transitioning from capability-building to sharper execution across AI-led data, digital operations, and technology-enabled services.
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 YOY
The presentation primarily highlights annual performance (FY25-26 vs FY24-25) for consolidated revenue and profitability, emphasizing year-over-year growth and changes. The main narrative focuses on the full fiscal year.
Sector KPIs management disclosed
Consolidated Revenue from Operations
₹5,811.90 lakh in FY25-26 vs ₹4,348.18 lakh in FY24-25, a 33% growth.
Consolidated Employee Benefits Expenses
₹3,566.46 lakh in FY25-26 vs ₹2,061.36 lakh in FY24-25.
Consolidated Profit Before Tax
Loss of ₹1,522.99 lakh in FY25-26 vs Profit of ₹500.24 lakh in FY24-25.
Consolidated Profit from Continuing Operations
Loss of ₹1,541.07 lakh in FY25-26 vs Profit of ₹324.29 lakh in FY24-25.
Management forward view
Strategic Evolution
Evolving strategic focus beyond traditional service lines into AI & Data Operations, Digital Experience & Personalization, and Trust, Compliance & Digital Verification Services.
Future Operating Discipline
Focus will be on optimizing investments, improving utilization, and driving operating leverage across service lines.
Balanced Growth and Profitability
Conscious of maintaining a balance between growth investments and financial discipline.
Commitment to Value Creation
Committed to delivering sustainable growth, creating long-term value for shareholders, and building an organization for excellence, trust, and innovation.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Operating Leverage | Investments had a near-term impact on profitability. | Expected to support execution capacity, service diversification and future operating leverage. |
| Utilization | Past year saw elevated investments in talent and capability building. | Focus will be on optimizing these investments, improving utilization. |
| Profitability | Reported a loss of Rs 15.41 crore for the period. | Transitioning from capability-building to sharper execution across AI-led data, digital operations and technology enabled services, with a focus on sustainable growth and improved operating discipline. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
59Limited 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 25th percentile of the scored universe and 22nd percentile within IT. Main check: financial discipline is weak at 40/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
1 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
25th percentile
overall median 67 · IT: 22nd pctile, median 69 · SME: 27th pctile, median 64
Evidence depth
Financial-only
1 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
Needs extra due diligence; demand valuation comfort and recent improvement.
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
61
acceptable · leverage and solvency
Discipline
40
weak · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 70.6%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.5%.
Trust risks
- ▸Only 1 years of positive FCF.
- ▸Debt/equity is 1.45.
- ▸ROCE is low at -22%.
- ▸ROE is low at -56.3%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Enfuse Solutions Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.