Kellton Tech Solutions financials and balance sheet

NSE: KELLTONTECBSE: 519602IT - ServicesSmall Cap

₹11.08₹0.22 (1.95%)BSE ₹11.12

Share price at the NSE close on 23 Oct 2026. Previous close ₹11.30.

52-week range of traded prices to 23 Oct 2026

₹10.66Low, 23 Oct 2026₹23.80High, 23 Oct 2025

Market cap: ₹585 Cr1,559th largest listed
P/E: 6.4
P/B: 0.7
Dividend yield: Nonein the last 12 months
ROE: 13.6%
ROCE: 12.1%
Debt to equity: 0.22
Volume, NSE: 21,91,19941.4% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Kellton Tech Solutions annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹1,217 Cr, year to Mar 2026A loss in 1 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 7.0% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue1,217
Materials and goods−9.7
Employee costs−558
Other expenses−514
Operating profit135
Depreciation−15
Other income+8.4
One-off items0.0
Finance costs−21
Profit before tax107
Tax−16
Net profit92

What the company owns

Plant, investments and other assets₹698 Cr
Receivables₹393 Cr
Cash and bank₹37 Cr
Inventory₹0 Cr

What pays for it: net worth and liabilities

Net worth₹807 Cr
Borrowings₹179 Cr
Other liabilities₹115 Cr
Owed to suppliers₹28 Cr

Kellton Tech Solutions business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Kellton Tech Solutions segment results by quarter

Revenue by segment

₹1,217 CrTotal

Digital Transformation₹1,010 Cr83.0% of total
Enterprise Solutions₹170 Cr13.9% of total
Consulting₹37 Cr3.1% of total

Profit by segment

Digital Transformation₹323 Cr87.9% of total
Enterprise Solutions₹40 Cr10.8% of total
Consulting₹5 Cr1.2% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Digital Transformation
Revenue, ₹ crore
577
578
615
689
752
806
905
1,010
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
221
216
227
213
222
258
0
323
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Enterprise Solutions
Revenue, ₹ crore
141
149
118
119
129
138
153
170
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
31
37
33
25
26
31
0
40
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Consulting
Revenue, ₹ crore
96
43
42
34
36
38
40
37
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
24
13
12
7
8
8
0
5
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	814	771	776	843	917	983	1,098	1,217
Company revenue, as in its results	814	771	776	843	917	983	1,098	1,217
Revenue	577	578	615	689	752	806	905	1,010
Revenue growth	–	0.2%	6.4%	12.0%	9.1%	–	12.2%	11.6%
Profit	221	216	227	213	222	258	0	323
Profit growth	–	−2.1%	5.3%	−6.1%	3.9%	–	−100.0%	–
Margin	38.2%	37.3%	36.9%	31.0%	29.5%	32.0%	0.0%	32.0%
Revenue	141	149	118	119	129	138	153	170
Revenue growth	–	5.9%	−20.5%	1.0%	8.2%	–	10.6%	10.7%
Profit	31	37	33	25	26	31	0	40
Profit growth	–	17.7%	−11.0%	−23.2%	2.7%	–	−100.0%	–
Margin	22.3%	24.8%	27.8%	21.1%	20.0%	22.5%	0.0%	23.5%
Revenue	96	43	42	34	36	38	40	37
Revenue growth	–	−54.8%	−3.5%	−18.9%	6.8%	–	4.7%	−6.3%
Profit	24	13	12	7	8	8	0	5
Profit growth	–	−46.5%	−5.3%	−39.5%	3.3%	–	−100.0%	–
Margin	24.8%	29.4%	28.8%	21.5%	20.8%	21.4%	0.0%	12.1%

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Kellton Tech Solutions quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 12 Jun	Mar 2020Filed 13 Jul	Mar 2021Filed 15 Jun	Mar 2022Filed 14 Jun	Mar 2023Filed 31 May	Mar 2024Filed 19 Jul	Mar 2025Filed 24 Jun	Mar 2026Filed 30 May
Revenue from operations	615	783	814	771	776	843	917	983	1,098	1,217
	529	665	696	658	668	738	824	878	970	1,081
Materials and goods bought	1	35	22	23	15	2	0	0	0	10
Employee costs	302	350	385	370	386	430	464	487	517	558
Other expenses	226	280	290	265	268	305	360	392	454	514
Operating profit before depreciation	86	118	118	112	108	105	93	104	128	135
Operating margin	14.0%	15.1%	14.5%	14.6%	13.9%	12.4%	10.2%	10.6%	11.6%	11.1%
Materials, % of revenue	0.2%	4.5%	2.7%	3.0%	1.9%	0.3%	0.0%	0.0%	0.0%	0.8%
Employee costs, % of revenue	49.1%	44.6%	47.3%	48.1%	49.7%	51.1%	50.5%	49.5%	47.1%	45.8%
Other expenses, % of revenue	36.8%	35.8%	35.6%	34.4%	34.5%	36.2%	39.2%	39.8%	41.3%	42.2%
Depreciation and amortisation	4	5	7	13	13	11	14	16	17	15
Operating profit after depreciation	82	113	111	100	95	94	79	88	111	120
Other income	1	3	5	4	5	1	2	2	2	8
Finance costs	10	16	19	16	13	12	11	18	20	21
Profit before one-off items and tax	72	99	97	87	87	83	70	72	93	107
One-off items	0	0	0	0	0	0	−184	0	0	0
Profit before tax	72	99	97	87	87	83	−114	72	92	107
	18	31	20	17	16	13	13	8	13	16
Current tax	–	30	20	18	15	13	13	9	13	15
Deferred tax	–	1	0	−1	0	0	0	−1	0	0
Net profit	54	68	77	71	71	70	−127	64	80	92
Other comprehensive income	–	–	−2	4	0	1	−4	0	0	5
Total comprehensive income	–	–	75	74	71	71	−131	64	80	96
Net margin	8.7%	8.7%	9.5%	9.2%	9.2%	8.4%	−13.8%	6.5%	7.3%	7.5%

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 12 Jun	Mar 2020Filed 13 Jul	Mar 2021Filed 15 Jun	Mar 2022Filed 14 Jun	Mar 2023Filed 31 May	Mar 2024Filed 19 Jul	Mar 2025Filed 24 Jun	Mar 2026Filed 30 May
	329	416	421	479	373	443	535	807
Share capital	48	48	48	48	48	49	49	53
Reserves	281	368	372	430	325	395	487	754
	105	95	88	105	135	129	157	179
Repayable after a year	36	29	23	13	43	33	52	24
Repayable within a year	69	67	65	92	93	96	105	154
	208	212	164	157	162	167	187	258
Trade payables	36	39	16	15	20	18	22	28
Other financial liabilities	18	21	14	10	14	18	0	40
Other liabilities	18	16	11	11	12	12	30	7
Provisions	45	45	41	26	23	24	30	29
Tax owed	20	24	18	3	–	–	0	0
	62	90	47	37	62	50	67	64
Other financial liabilities	0	36	9	9	0	0	0	31
Other liabilities	22	22	10	9	13	9	6	–
Provisions	2	2	3	3	5	6	7	8
Deferred tax	3	2	2	2	2	1	1	1
Total assets	599	718	632	672	596	660	789	1,129
	243	300	219	209	75	98	106	293
Plant in use, after depreciation	10	23	10	10	10	13	10	8
Plant being built	0	0	0	0	0	18	32	165
Intangible assets	11	29	29	29	31	37	0	37
Goodwill	199	226	162	153	12	12	12	60
Property held to earn rent	0	0	6	7	11	8	5	–
Other financial assets	2	2	1	1	1	2	0	13
Other assets	21	21	12	10	10	9	48	10
	356	418	413	463	522	562	683	836
Inventories	3	0	0	0	0	0	6	0
Trade receivables	180	203	206	223	257	269	326	393
Cash and cash equivalents	26	30	39	25	30	28	0	37
Other bank balances	0	0	0	0	0	0	28	0
Other financial assets	85	116	113	163	179	210	0	340
Tax paid in advance	0	–	0	0	5	5	0	12
Other assets	62	70	55	52	52	50	323	53
Net debt	79	66	49	80	105	101	129	141

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 15 Jun	Mar 2022Filed 14 Jun	Mar 2023Filed 31 May	Mar 2024Filed 19 Jul	Mar 2025Filed 24 Jun	Mar 2026Filed 30 May
	79	1	24	56	6	−10
	101	28	45	65	20	11
	−16	−78	−47	−42	−112	−136
Receivables	−8	−17	−35	−14	–	−68
Payables	−23	−1	5	−2	–	6
Other working capital	15	−60	−17	−26	–	−74
Tax paid	−21	0	−21	−9	−14	−22
Capital spending	6	12	21	22	11	20
Free cash flow	74	−11	3	35	−5	−30
	32	−4	−72	−40	−25	−168
Companies bought	−27	−1	0	0	−1	29
	−102	−11	53	−19	19	188
Borrowings raised	0	14	35	0	–	0
Borrowings repaid	−15	0	0	−3	–	29
Interest paid	−13	−12	−11	−18	–	−21
Lease payments	−8	0	5	−3	–	6
Dividends paid	0	–	0	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	2	0	109
Net change in cash	9	−14	5	−2	0	10

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020. Dividends paid is left blank for the year to Mar 2022: the cash-flow statement states no dividends paid, while the company's own dividend record shows one paid in the period, so the line is not given.

Consolidated, ₹ per share, years to March.Kellton Tech Solutions dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 12 Jun	Mar 2020Filed 13 Jul	Mar 2021Filed 15 Jun	Mar 2022Filed 14 Jun	Mar 2023Filed 31 May	Mar 2024Filed 19 Jul	Mar 2025Filed 24 Jun	Mar 2026Filed 30 May
	₹1.14	₹1.32	₹1.56	₹1.54	₹1.47	₹1.48	−₹2.71	₹1.32	₹48,654.13	₹1.79
As stated that year	₹11.43	₹6.60	₹7.79	₹7.70	₹7.34	₹7.39	−₹13.56	₹6.58	₹48,654.13	₹1.79
	₹1.13	₹1.32	₹1.55	₹1.51	₹1.47	₹1.48	−₹2.67	₹1.32	₹48,654.13	₹1.79
As stated that year	₹11.31	₹6.58	₹7.77	₹7.55	₹7.33	₹7.39	−₹13.33	₹6.58	₹48,654.13	₹1.79
	–	–	–	–	₹0.05	–	–	–	–	–
As declared that year	–	–	–	–	₹0.25	–	–	–	–	–
	–	–	₹6.83	₹8.64	₹8.73	₹9.92	₹7.73	₹9.10	₹10.99	₹15.19
On that year's share count	–	–	₹34.15	₹43.20	₹43.63	₹49.61	₹38.64	₹45.52	₹54.95	₹15.19
Dividend payout	–	–	–	–	3.4%	–	–	–	–	–
Shareholder yield	–	–	–	–	0.0%	–	0.0%	−0.3%	0.0%	−15.7%
Market cap at the year end (₹ crore)	626	612	385	68	694	811	426	941	1,042	699

Every year is restated for later splits and bonuses, so they do not break the line. The figure the company stated that year is under each line it differs from. Shareholder yield is left blank for the year to Mar 2022: the cash-flow statement states no dividends paid, while the company's own dividend record shows one paid in the period, so the line is not given.

Ratios

Consolidated, years to March.Kellton Tech Solutions PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 12 Jun	Mar 2020Filed 13 Jul	Mar 2021Filed 15 Jun	Mar 2022Filed 14 Jun	Mar 2023Filed 31 May	Mar 2024Filed 19 Jul	Mar 2025Filed 24 Jun	Mar 2026Filed 30 May
Revenue growth	–	27.4%	3.9%	−5.3%	0.6%	8.6%	8.9%	7.1%	11.7%	10.9%
Operating profit growth	–	38.0%	−0.4%	−4.7%	−4.1%	−2.8%	−10.8%	11.7%	22.2%	6.2%
Net profit growth	–	27.2%	12.5%	−8.3%	0.8%	−1.0%	–	–	24.5%	15.0%
Earnings per share growth	–	15.5%	18.0%	−1.2%	−4.7%	0.7%	–	–	36,97,022.3%	−100.0%
	–	–	23.4%	18.9%	17.0%	15.7%	−29.8%	15.7%	16.3%	13.7%
	–	–	–	−4.5 pts	−1.9 pts	−1.3 pts	−45.4 pts	45.5 pts	0.6 pts	−2.6 pts
From the net margin	–	–	–	−0.7 pts	0.0 pts	−1.5 pts	−41.6 pts	43.8 pts	1.8 pts	0.6 pts
From asset turnover	–	–	–	−3.2 pts	−0.3 pts	1.9 pts	−3.1 pts	1.1 pts	−0.5 pts	−2.7 pts
From borrowing	–	–	–	−0.6 pts	−1.6 pts	−1.8 pts	−0.8 pts	0.5 pts	−0.6 pts	−0.5 pts
Return on capital employed	–	–	25.6%	19.5%	18.7%	16.1%	15.5%	15.4%	16.0%	12.2%
Cash conversion	–	–	–	–	111.7%	0.9%	–	87.8%	7.4%	−11.5%
Interest cover	7.9	6.9	5.9	6.1	7.4	8.1	6.9	4.8	5.5	5.7
Debt to equity	–	–	0.32	0.23	0.21	0.22	0.36	0.29	0.29	0.22
Receivable days	–	–	81	96	97	96	102	100	108	118
Inventory days	–	–	45	1	0	2	0	–	23,141	3
Payable days	–	–	616	628	404	2,243	22,591	–	86,050	1,059
Cash conversion cycle, days	–	–	−490	−531	−307	−2,145	−22,489	–	−62,801	−937
Working capital days	–	–	86	115	129	162	168	172	191	209
Asset turnover	–	–	1.36	1.17	1.15	1.29	1.45	1.56	1.51	1.27
Assets per rupee of net worth	–	–	1.82	1.77	1.61	1.45	1.49	1.54	1.48	1.43
Sales per rupee of plant	–	–	81.50	33.91	77.39	80.47	95.04	76.94	115.25	158.96
Capital spending to depreciation	–	–	–	–	0.44	1.11	1.44	1.35	0.64	1.28
Plant being built, % of plant in use	–	–	0.0%	0.0%	0.0%	0.0%	0.0%	142.1%	335.6%	2,149.6%

No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 9.6%
Cash from operations against operating profit: −7.7%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	9.4%	9.9%
Profit growth, yearly rate	–	5.2%	–
Return on equity, average	–	6.3%	15.2%
Return on capital employed, average	–	15.0%	14.5%
Operating margin, average	12.8%	11.2%	11.1%
Net margin, average	6.1%	3.2%	7.1%
Asset turnover, average	–	1.42	1.45
Cash conversion cycle, days, average	–	−22,093	−31,869
Interest cover, average	6.5	6.2	5.3
Debt to equity, average	–	0.28	0.27

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	77	52	−10
Cash from investing	−308	−232	−168
Cash from financing	230	188	188
Capital spending	85	52	20
Dividends paid	–	0	0
Shares bought back	0	0	0
Shares issued for cash	112	112	109
Borrowings raised	–	–	0
Borrowings repaid	–	–	29

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	7	7	5	7	5	2
Altman Z-scorePublished threshold 1.1	–	–	5.74	5.97	7.65	8.63	6.33	8.93	9.31	8.94
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.61	−1.96	−3.90	−2.27	−1.88	−1.41
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−5.91	11.34	−12.45	7.55	13.58	28.16
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	7.08	10.61	5.10	0.22
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	17.64	0.97	−0.50	6.43	−2.38	9.54	9.79
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	−103.37	−42.87	83.16	−13.22	–	–	−10,299.67
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	5.03	−2.28	5.59	2.16	3.09	5.27	6.74
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.00	0.00	0.00	0.00	0.95	2.34	12.12
Effective tax ratePublished threshold 17.16 per cent	25.59	31.24	20.98	19.00	17.99	15.59	–	10.98	13.81	14.60
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	15.59	–	−1.09	−1.37	−5.58

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
26 Mar 2026	ICRA Limited (opens in a new tab)	Non-fund based-Others	[ICRA]A-New, New	Stable	22
26 Mar 2026	ICRA Limited (opens in a new tab)	Unallocated limits-Unallocated limits	[ICRA]A2+Review, Re-affirm		40
26 Mar 2026	ICRA Limited (opens in a new tab)	Non-fund based-Others	[ICRA]A2+New, New		20
26 Mar 2026	ICRA Limited (opens in a new tab)	Interchangeable limits-Others	[ICRA]A-New, New	Stable	46.42
26 Mar 2026	ICRA Limited (opens in a new tab)	Fund-based-Others	[ICRA]A-New, New	Stable	168

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.