AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Management 18 Sep - Shareholders approved S.R. Batliboi & Associates LLP as statutory auditor for five years from September 18, 2026.
Source: Bse
Shadowfax Technologies Limited (SHADOWFAX)
Small CapIT stocks · Small cap · NSE
Shadowfax Technologies Limited operates in Software Services, within the IT sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:22 am IST
Score22 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
74BullishSMA20 +13.0% / mo · MACD − · near 52W high · sector +19.3pp vs Nifty 500 (3M)
Stock trend: 57
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
SHADOWFAXD candles · FIT view+74.4%Latest close ₹272.50 on 2026-10-21
Daily history is available from 2026-01-28; the requested 1Y window is partially covered.
Bar
-4.2%
RSI
46
MACD hist
-2.40
52W pos
85%
2026-10-21O ₹284.50H ₹285.80L ₹269.60C ₹272.50Vol 40.2L 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
SHADOWFAXNifty ITNifty 500
- SHADOWFAX
- +24.2%
- Nifty 500
- -6.5%
- Nifty IT
- +12.0%
- Vs Nifty 500
- +30.7 pp
Chart stats
21 Oct 2026- From 52W high
- -9.9%
- 52W range position
- 85%
- ATR (14)
- 4.4%
- Volume vs 20D
- 0.76x
- Avg traded value
- ₹138 Cr
- 20D price channel
- ₹267.2 - ₹302.4
₹302.4
₹98.6 - ₹302.4
₹12
Latest completed session
20-session average
41.4% annualized volatility
Research snapshot
What the evidence says now
Weak 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 · WATCHLIST35
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent100
Revenue +64.8% · PAT +712.5% YoY
Technical
Bullish74
Price trend and sector-relative-strength timing.
Valuation
Legacy model-133.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence66
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 30 Jun 2026
Excellent · 100/100Rev +65% YoY · PAT +713% YoY · margin expansion · +10% QoQ · operating leverage
Filed 31 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,358 Cr | +64.8% | +9.8% |
| EBITDA | ₹92 Cr | +268.0% | +13.6% |
| Operating margin | 7.0% | +390 bps | +0 bps |
| PAT | ₹65 Cr | +712.5% | +16.1% |
| PAT margin | 4.8% | +382 bps | +26 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 100.00
- P/B
- 9.63
- EV/EBITDA
- 41.69
- Market Cap
- 16969.00Cr
Profitability
- ROE
- 10.40%
- ROCE
- 10.00%
- ROA
- 5.96%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 35.27%
- EPS 5Y
- 430.72%
- Revenue 3Y
- 44.00%
- EPS 3Y
- 41.00%
Balance Sheet
- Debt/Equity
- 0.14
- Interest Coverage
- 11.58×
- Altman Z
- 8.79
- Book Value
- 30.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- 350.00 Cr
- EPS TTM
- 3.64
Shareholding
- Promoter Hold
- 16.51%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 98%
Financial History
Updated 22/10/2026
Revenue
₹ CrLatest: 4,202+69.1% vs prev
Net Profit
₹ CrLatest: 112+1766.7% vs prev
Return on Equity
%Latest: 6.4+328.0% 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 unclear. RSI 46. Wait for confirmation.
- SMA20 rising (~11.5% over last month) — short-term momentum positive.
- RSI(14) at 46 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 10% off 52W high · 177% 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
93
RS percentile
Stage 2 UptrendRecent S2
1M return
-0.1%
3M return
+24.2%
6M return
+75.8%
1Y return
-
RS 1D
+1
RS 20D
-1
Sector rank
#7
Industry rank
#37
Stage evidence
- Price is 27.7% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +11.9%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
unavailable
S2 observed by
23 Sept 2026
S2 age
19 trading sessions
Sector
improving
Industry
improving
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
181 observations
21 Oct 2026Value 261.89-3.24%
RS vs Nifty 500262
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 · WATCHLISTValuation0/30
Growth19/25
Quality3/20
Balance Sheet8/15
Cash Flow1/10
Piotroski
7/9 (+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 7/9.
- Growth contributes 19/25 to the score.
- Balance sheet contributes 8/15 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -133.2%.
- Valuation is weaker at 0/30; 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
100.0
PB
9.6
EV/EBITDA
41.7
ROE
10.4%
ROCE
10.0%
FCF Yield
—
Debt/Equity
0.1
MoS
-133.2%
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
35
Previous: 35
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-133.2%
Previous: -133.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
22 Oct 2026
v4.3-runtime-valuation
35
35
35
35
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
₹49.57
-449.7% MoS
Growth-justified P/E
32.1
Growth-justified Value
₹116.84
-133.2% MoS
PEG
0.36
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
SIGMAADV
Small
SIGMA ADVANCED SYSTEMS LIMITED
IT Services / Digital
match 165
41
129.0
-4.0%
-197%
WATCHLIST
ZENSARTECH
Small
Zensar Technologies Limited
IT Services / Digital
match 162
72
14.5
17.3%
+54%
UNDERVALUED
SOTL
Small
Savita Oil Technologies Limited
IT Services / Digital
match 161
37
12.0
8.3%
-182%
WATCHLIST
WELSPLSOL
Small
Welspun Specialty Solutions Limited
IT Services / Digital
match 160
30
122.0
4.8%
-234%
OVERVALUED
NETWEB
Small
Netweb Technologies India Limited
IT Services / Digital
match 159
60
107.0
32.8%
-212%
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
Issuer presentation review pending
Shadowfax Technologies Limited operates in Software Services, within the IT sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
66Limited 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 49th percentile of the scored universe and 45th percentile within IT. Main check: cash conversion is weak at 43/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
18 docs text-extracted · 4 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
49th percentile
overall median 67 · IT: 45th pctile, median 69 · Small: 54th pctile, median 66
Evidence depth
Financial-only
18 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
70
acceptable · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
76
strong · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸Promoter holding increased 13.5%.
Trust risks
- ▸Promoter holding is only 16.5%.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Shadowfax Technologies 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 25 Sep - Allotment of 55,110 Equity Shares of Rs. 10/- each to the eligible employees/ESOP holders
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Sep - Shadowfax Technologies Limited has informed about Schedule of Investors Conference/Analyst Meet
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 10 Sep - Allotment of 1,57,314 Equity Shares of Rs. 10/-each to the eligible employees/ESOP holders
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 3 Sep - Shadowfax 360 launches channel partner network, targeting 1,000 partners in three years.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 27 Aug - Allotment of 1,69,338 Equity Shares of Rs. 10/- each to the eligible employees/ESOP holders
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 25 Aug - Newspaper Advertisement published in connection with Notice of 11th Annual General Meeting and E-Voting information
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 11 Aug - Allotment of 12,41,478 Equity Shares of Rs. 10/- each to the eligible employees/ESOP holders
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 6 Jul - Allotment of 1,00,200 Equity Shares of Rs. 10/- each to the eligible Employees/ESOP holders
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 17 Jun - Allotment of 1,04,208 Equity Shares of Rs. 10/- each to the eligible employees/ESOP holders
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 4 Jun - Allotment of 2,27,955 Equity Shares of Rs. 10/- each to the eligible employees/ESOP holders
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3 Jun - Shadowfax Technologies Limited has informed about Schedule of Investors Conference / Analyst Meet
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.