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.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust needs verification, price trend argues for patience, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Average · 30/100YoY data unavailable — classification deferred
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹27 Cr | NDF | -12.9% |
| EBITDA | ₹-2 Cr | -140.0% | +60.0% |
| Operating margin | -7.0% | -3200 bps | +700 bps |
| PAT | ₹-7 Cr | NDF | NDF |
| PAT margin | -25.9% | -3048 bps | +310 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
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.
Standalone Revenue by Segment (FY2025-26)
Latest issuer-disclosed distribution across 4 reported categories.
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.
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.
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.
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.
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
Management accountability
What management said, and what results must prove
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.
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.
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.
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.
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.
Trend score and candlestick chart
38Bearishfull bear SMA stack · SMA20 -1.8% / mo · MACD − · near 52W low
Technical chart
ENFUSEdaily · 1Y · AUTO-18.8%Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 42.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~1.8% over last month) — short-term momentum negative.
- RSI(14) at 42 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 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.
Valuation & score drivers
U-Score 13 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 13 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
OVERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
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.
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.
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.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: 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.
Mixed Trust Lite: Promoter holding is 70.6%. Key concern: Only 1 years of positive FCF.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · IT: 22nd pctile, median 69 · SME: 27th pctile, median 64
1 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead 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.
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.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- —
- P/B
- 6.95
- EV/EBITDA
- 166.00
- Market Cap
- 137.00Cr
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
- 3.45
- Book Value
- 22.30
Cash Flow
- FCF Yield
- 1.46%
- FCF Positive Y
- 1/5
- OCF
- 6.00 Cr
- EPS TTM
- -17.42
Shareholding
- Promoter Hold
- 70.62%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 6%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in IT, ranked by similarity
Peers
Business-comparable names in IT, ranked by similarity
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.