Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 23 Sep - Cargills Bank expands partnership with Intellect for eMACH.ai core banking across lending, trade finance and treasury.
Source: Bse
Intellect Design Arena Limited (INTELLECT)
Large CapIT stocks · Large cap · NSE
Intellect Design Arena Limited is pivoting from a product company to a full-stack AI-first platform company, focusing on Enterprise AI solutions for the global banking sector. Its core offering, Purple Fabric, leverages eMACH.ai architecture to deliver deterministic, 3D AI solutions for high-consequence enterprise problems.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals15 Oct 2026 · screener
Latest result31 Jul, 06:38 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
64BullishSMA20 -8.5% / mo · MACD + · near 52W low · sector +14.5pp vs Nifty 500 (3M)
Stock trend: 40
Sector RS: 100
Sector 3M: +8.9% vs Nifty 500 -5.6%
IT FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
INTELLECTD candles · FIT view-7.0%Latest close ₹640.50 on 2026-10-19
Bar
-1.3%
RSI
52
MACD hist
7.67
52W pos
11%
2026-10-19O ₹648.65H ₹650.95L ₹632.50C ₹640.50Vol 3.1L 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
INTELLECTNifty ITNifty 500
- INTELLECT
- -14.8%
- Nifty 500
- -5.6%
- Nifty IT
- +8.1%
- Vs Nifty 500
- -9.2 pp
Chart stats
19 Oct 2026- From 52W high
- -48.5%
- 52W range position
- 11%
- ATR (14)
- 3.5%
- Volume vs 20D
- 0.73x
- Avg traded value
- ₹25.8 Cr
- 20D price channel
- ₹564.1 - ₹674.4
₹1,244.6
₹564.1 - ₹1,244.6
₹22.2
Latest completed session
20-session average
41.6% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management trust is acceptable, 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 · WATCHLIST35
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average32
Revenue +20.4% · PAT +8.5% YoY
Technical
Bullish64
Price trend and sector-relative-strength timing.
Valuation
Legacy model-54.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Healthy Trust70
medium confidence · 4/4 claims checked
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 32/100margin compression · Rev +20% YoY · PAT +9% YoY
Filed 31 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹845 Cr | +20.4% | -0.2% |
| EBITDA | ₹166 Cr | +16.9% | -9.3% |
| Operating margin | 20.0% | +0 bps | -200 bps |
| PAT | ₹102 Cr | +8.5% | -15.0% |
| PAT margin | 12.1% | -132 bps | -210 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 24.40
- P/B
- 2.83
- EV/EBITDA
- 11.19
- Market Cap
- 9031.00Cr
Profitability
- ROE
- 12.40%
- ROCE
- 16.00%
- ROA
- 7.73%
- Dividend Y
- 0.62%
Growth (CAGR)
- Revenue 5Y
- 15.00%
- EPS 5Y
- 7.00%
- Revenue 3Y
- 11.00%
- EPS 3Y
- 11.00%
Balance Sheet
- Debt/Equity
- 0.05
- Interest Coverage
- 100.50×
- Altman Z
- 6.31
- Book Value
- 227.00
Cash Flow
- FCF Yield
- 2.67%
- FCF Positive Y
- 6/5
- OCF
- 510.00 Cr
- EPS TTM
- 25.28
Shareholding
- Promoter Hold
- 29.55%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 12%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 3,038+21.5% vs prev
Net Profit
₹ CrLatest: 343+2.7% vs prev
Return on Equity
%Latest: 490+4549.0% 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
Mixed signalsSignals are conflicting — long-term trend down. RSI 52. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~9.3% over last month) — short-term momentum negative.
- RSI(14) at 52 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 49% off 52W high · 14% 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
13
RS percentile
Stage 4 Downtrend
1M return
-1.1%
3M return
-14.8%
6M return
-7.9%
1Y return
-37.5%
RS 1D
0
RS 20D
+3
Sector rank
#2
Industry rank
#5
Stage evidence
- Price is 8.4% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.1%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 66.93+0.12%
RS vs Nifty 50067
Valuation & peers
U-Score 35 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 35 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation1/30
Growth8/25
Quality4/20
Balance Sheet8/15
Cash Flow8/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
35
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
35/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Cash flow contributes 8/10 to the score.
- Balance sheet contributes 8/15 to the score.
Main drags
- Fair-value margin of safety is negative at -54.5%.
- Valuation is weaker at 1/30; verify the latest quarterly trend.
- Quality is weaker at 4/20; verify the latest quarterly trend.
Sector valuation model
Bank valuation: P/B adjusted for ROE and asset quality
Banks are balance-sheet businesses, so book value quality matters more than simple earnings multiples.
Primary lens
Price/book and ROE/ROA, not trailing PE alone.
Secondary checks
Capital adequacy, credit cost, NPA trend, deposit franchise.
Main risk check
Low P/B can be a trap if asset quality or credit cost is worsening.
PE
24.4
PB
2.8
EV/EBITDA
11.2
ROE
12.4%
ROCE
16.0%
FCF Yield
2.7%
Debt/Equity
0.1
MoS
-54.5%
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: 20 Oct 2026
v4.3-runtime-valuation
Final score
35
Previous: 35
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-54.5%
Previous: -54.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
36
36
36
36
35
35
35
35
35
35
35
35
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
₹359.33
-78.2% MoS
Growth-justified P/E
16.4
Growth-justified Value
₹414.59
-54.5% MoS
PEG
2.84
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
OFSS
Mid
Oracle Financial Services Software Limited
IT Services / Digital
match 135
52
26.2
32.6%
-33%
FAIR VALUE
BSOFT
Large
BIRLASOFT LIMITED
IT Services / Digital
match 129
61
14.0
14.1%
+60%
UNDERVALUED
MAPMYINDIA
Large
C.E. Info Systems Limited
IT Services / Digital
match 127
38
36.7
12.0%
-10%
WATCHLIST
NEWGEN
Large
Newgen Software Technologies Limited
IT Services / Digital
match 127
63
19.8
19.6%
+31%
UNDERVALUED
SONATSOFTW
Large
Sonata Software Limited
IT Services / Digital
match 127
66
13.8
28.2%
+54%
UNDERVALUED
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 2026-06-03T17:46:06.978Z
Management commentary snapshot
Intellect Design Arena outlines strategic pivot to Enterprise AI-first platform company, emphasizing Purple Fabric for high-consequence banking problems and future revenue impact.
Intellect is strategically repositioning as an AI-first platform provider, aiming to capitalize on the projected $340B annual global banking AI value lift. The focus on deterministic, 3D AI solutions via Purple Fabric and eMACH.ai for high-consequence enterprise problems is a clear differentiator, but execution and monetization remain key.
Growth engines
AI-First Products
Better value and winning rates across core offerings, with PF-enabled products delivering measurable outcomes that legacy competitors cannot match.
Internal Productivity
Utilizing Purple Fabric for Intellect's own engineering and operations, driving significant cost reduction in delivery and maintenance.
Sovereign Platform-as-a-Service
A 'Big Bet' revenue stream where banks own their proprietary knowledge moat through Intellect's platform.
Tailwinds
Massive Financial Tech Tailwinds
GenAI is projected to inject $200B-$340B in annual operating value directly into the global banking sector.
IT Industry Transformation
Shift from labor-intensive to intelligence-dense models and compression of development and testing life cycle.
Corporate Knowledge Capital
Institutions must acquire sovereign cognitive platforms to anchor, analyze, and defend their massive unstructured proprietary memory assets.
Headwinds
Gen AI Benefit Gap
Gen AI is often applied linearly to 3D enterprise problems, creating hallucinations and reliability failures in high-consequence environments.
Cost Barrier of LLMs
Extremely high LLM and Token expenditure, leading to massive token waste due to poor architectural knowledge.
Risk radar
Unfulfilled Promise of AI
Gen AI applied linearly to 3D enterprise problems creates hallucinations and reliability failures in high-consequence environments, requiring 3D AI solutions.
Cost & Efficiency of LLMs
High LLM and Token expenditure, coupled with wasted intelligence due to poor architectural knowledge, poses a cost barrier.
Market Adoption of New Platform
Management states they have built something 'unique and perhaps much ahead of the market need,' implying potential adoption challenges.
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 QOQ
For an IT product company undergoing a strategic pivot, sequential progress in platform development, client adoption, and project execution (POCs to scale-out) would be more indicative of momentum than annual comparisons, especially for new offerings. Financial results are not provided in this strategic vision document.
Sector KPIs management disclosed
Global Banking AI Value Lift
GenAI stands to inject between $200 Billion and $340 Billion in annual operating value directly into the global banking sector.
Projected Enterprise AI CAGR (2024-2030)
34.2% Projected Enterprise AI CAGR (2024-2030).
Potential Acceleration in Testing/Build
80% potential acceleration in non-functional testing and core build processes due to AI impact on Intellect.
Management forward view
Pivoting to AI-first platform company
Intellect is pivoting from a product company to a full-stack AI-first platform company, with AI-First design since 2023.
Purple Fabric for high-consequence problems
Purple Fabric is engineered not for experimentation, but for solving high-consequence enterprise problems.
Need for sovereign cognitive platforms
Enterprises will need their own platform like ERP to manage their knowledge moat, with large banks having their own platform on their own cloud.
Monetization of unique asset
Management seeks input on how to monetize their unique asset, which they believe is 'much ahead of the market need'.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Platform Adoption | Platform Design, Platform Education & Awareness. | Extensive Conversation, POCs & Early Wins, Success References, and Scale Out phases of platform adoption. |
| Enterprise AI Progression | Ad-hoc chatGPT usage to Institutional curiosity, Augmented Productivity. | Progression to Multi-Agent Orchestration, Knowledge Synthesis, Governance Fortress, and Value Realisation. |
| Monetization Strategy Execution | Direct Impact AI, Applied Modules, Platform (Big Bet) as revenue streams. | Specific client wins, revenue contribution from Purple Fabric, and adoption rates of sovereign platform-as-a-service. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
margin outlookpartially deliveredquantified
Our EBITDA margin will be close to 25 percent, within range in spite of all the investments.
Timeframe: implied current/near futureDirection: stableConfidence: high
"our margins will be close to 25 percent. So, we are within range of 25 percent in spite of all the investments."
Outcome check: OPM moved from 20.0% to average 18.0% (-2.0 pp).
revenue outlookdeliveredquantified
200 crore in Purple Fabric revenue will come this year, and we are on track for that.
Timeframe: this yearDirection: positiveConfidence: high
"We mentioned 200 crore in Purple Fabric last quarter will come this year, and we are on track for that."
Outcome check: Revenue YoY averaged 18.3% across 2 later quarter(s).
revenue outlookdeliveredquantified
We designed for 20 percent growth year-on-year, and I think we are on that same trajectory.
Timeframe: year-on-yearDirection: positiveConfidence: high
"we designed for 20 percent growth year-on-year, and I think we are on that same trajectory."
Outcome check: Revenue YoY averaged 18.3% across 2 later quarter(s).
revenue outlookcontradicted
We remain confident of sustained growth in the second half of the year.
Timeframe: second half of the yearDirection: positiveConfidence: confident
"We remain confident of sustained growth in the second half of the year."
Outcome check: Revenue YoY averaged 18.3% across 2 later quarter(s).
Trust Score
70Healthy Trust · medium confidenceClaim-tested Trust
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Management has 75% delivered/partly-delivered outcomes on 4 checked claims, with 1 adverse claim outcome. It ranks around the 63rd percentile of the scored universe and 58th percentile within IT. No major sub-score weakness stands out.
Healthy Trust: 4/4 extracted management claims have outcome checks; 50% were fully delivered and 1 were partially delivered. 1 claim(s) were contradicted or failed.
Computed 20 Oct 2026
management-trust-v1
36 extracted concalls · 4/4 claims matched
Score band
Healthy Trust
Generally investable credibility. Look for weak sub-scores before increasing position size.
Relative rank
63rd percentile
overall median 67 · IT: 58th pctile, median 69 · Large: 40th pctile, median 73
Evidence depth
Early sample
4/4 claims checked. Use as directional, not final.
Claim delivery
75% delivered or partly delivered
4/4 claims checked · 1 contradicted/failed claim
How to read this Trust Score
Healthy Trust · medium confidenceWhat it measures
Reliability of management and financial delivery, using management claims matched with later outcomes.
Confidence
Useful directional evidence exists, but still verify the latest filings.
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
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
60
acceptable · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.7%.
- ▸6 years of positive FCF.
- ▸Debt/equity is 0.05.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Continue researching Intellect Design Arena Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 17 Sep - Allotment of 1,06,716 Equity Shares under Associate (Employees) Stock Option Plan
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 16 Sep - Intellect Design Arena Limited has informed about Schedule of Investor Conference
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Sep - Intellect Design Arena Limited has informed about Schedule of meet on One-to-One basis
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3 Sep - Intellect Design Arena Limited has informed about Schedule of meet on One-to-One basis
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 31 Aug - Intellect Design Arena Limited has informed about Schedule of Investor Conference
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 19 Aug - Intellect Design Arena Limited has informed about Schedule of meet on One-to-One basis
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 19 Aug - Allotment of 89870 Equity Shares under Associate (Employees) Stock Option Plan.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Aug - Intellect Design Arena Limited has informed about Schedule of meet on One-to-One basis
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Jul - Newspaper Advetisement titled ''Notice For 15th Annual General Meeting, E-Voting and Final Dividend''.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 1 Jul - Intellect topped IBSi SLT 2026 in 8 categories, led North America with 96 deals, and won 173 contracts.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 29 Jun - Intellect Design’s eMACH.ai Retail 6DX named in Forrester’s 2026 NRF APAC Innovators report.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.