Newgen Software Technologies financials and balance sheet

NSE: NEWGENBSE: 540900IT - SoftwareSmall Cap

₹454.20₹21.60 (4.54%)BSE ₹453.55

Share price at the NSE close on 23 Oct 2026. Previous close ₹475.80.

52-week range of traded prices to 23 Oct 2026

₹401.05Low, 30 Mar 2026₹1,041.95High, 29 Oct 2025

Next results date: the board meets on 23 Oct 2026 to consider: financial results.

Market cap: ₹6,473 Cr655th largest listed
P/E: 20.6
P/E without one-offs: 18.1
P/B: 3.6
Dividend yield: 1.32%
ROE: 19.0%
ROE without one-offs: 21.7%
ROCE: 21.4%
Debt to equity: 0.00
Volume, NSE: 41,42,70015.0% delivered

9 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Newgen Software Technologies annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Peak revenue ₹1,574 Cr, year to Mar 2026

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 7.5% 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

Revenue1,574
Employee costs−742
Other expenses−426
Operating profit406
Depreciation−37
Other income+67
One-off items−43
Finance costs−5.5
Profit before tax387
Tax−87
Net profit301

What the company owns

Receivables₹708 Cr
Current investments₹703 Cr
Plant, investments and other assets₹620 Cr
Cash and bank₹412 Cr

What pays for it: net worth and liabilities

Net worth₹1,777 Cr
Other liabilities₹610 Cr
Owed to suppliers₹55 Cr

Newgen Software Technologies 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.Newgen Software Technologies segment results by quarter

Revenue by segment

₹1,574 CrTotal

EMEA₹489 Cr31.1% of total
India₹453 Cr28.8% of total
USA₹369 Cr23.4% of total
APAC₹263 Cr16.7% of total

Profit by segment

EMEA₹140 Cr34.3% of total
India₹72 Cr17.7% of total
USA₹108 Cr26.5% of total
APAC₹88 Cr21.6% of total

Segment results by year

Consolidated, ₹ crore, years to March.

EMEA
Revenue, ₹ crore
177
207
171
244
311
434
481
489
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
38
44
50
81
93
140
151
140
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
India
Revenue, ₹ crore
200
195
197
214
302
402
459
453
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
34
17
46
41
61
81
72
72
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
USA
Revenue, ₹ crore
174
183
212
213
235
263
316
369
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
35
24
61
38
30
37
75
108
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
APAC
Revenue, ₹ crore
69
76
92
108
126
145
230
263
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
23
23
42
35
25
32
80
88
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	621	661	673	779	974	1,244	1,487	1,574
Company revenue, as in its results	621	661	673	779	974	1,244	1,487	1,574
Revenue	177	207	171	244	311	434	481	489
Revenue growth	–	16.9%	−17.3%	42.1%	27.6%	39.5%	11.0%	1.6%
Profit	38	44	50	81	93	140	151	140
Profit growth	–	18.0%	12.1%	63.3%	14.5%	50.8%	7.9%	−7.2%
Margin	21.2%	21.4%	29.0%	33.3%	29.9%	32.3%	31.4%	28.7%
Return on capital	55.1%	56.0%	97.3%	172.3%	81.6%	139.3%	93.2%	69.1%
Assets	122	144	119	141	213	222	291	382
Liabilities	53	65	68	94	99	122	129	179
Capital employed	68	79	51	47	114	101	162	203
Revenue	200	195	197	214	302	402	459	453
Revenue growth	–	−2.6%	1.1%	8.7%	40.9%	33.0%	14.1%	−1.2%
Profit	34	17	46	41	61	81	72	72
Profit growth	–	−48.7%	161.9%	−10.5%	49.7%	33.5%	−11.3%	0.3%
Margin	16.9%	8.9%	23.1%	19.0%	20.2%	20.3%	15.7%	16.0%
Return on capital	46.2%	35.8%	123.6%	78.4%	79.5%	84.7%	51.8%	72.9%
Assets	119	102	93	115	156	200	257	273
Liabilities	46	53	56	63	80	104	118	173
Capital employed	73	49	37	52	77	96	139	99
Revenue	174	183	212	213	235	263	316	369
Revenue growth	–	5.0%	15.8%	0.7%	10.0%	12.1%	20.3%	16.6%
Profit	35	24	61	38	30	37	75	108
Profit growth	–	−31.3%	150.8%	−37.0%	−20.6%	21.9%	102.8%	44.1%
Margin	20.2%	13.3%	28.7%	18.0%	12.9%	14.1%	23.7%	29.3%
Return on capital	108.0%	53.0%	149.1%	68.1%	35.3%	47.0%	65.6%	84.8%
Assets	66	104	102	119	154	179	219	282
Liabilities	33	58	61	63	68	100	105	154
Capital employed	33	46	41	56	86	79	115	128
Revenue	69	76	92	108	126	145	230	263
Revenue growth	–	9.7%	21.9%	16.7%	17.3%	15.0%	58.9%	14.2%
Profit	23	23	42	35	25	32	80	88
Profit growth	–	−0.5%	86.7%	−17.8%	−26.9%	25.2%	151.4%	10.5%
Margin	33.0%	30.0%	45.9%	32.3%	20.1%	21.9%	34.7%	33.5%
Return on capital	77.2%	60.5%	159.2%	83.3%	72.0%	83.6%	127.1%	85.6%
Assets	45	57	51	73	90	90	127	175
Liabilities	15	19	24	31	55	52	65	72
Capital employed	29	37	27	42	35	38	63	103
	–	0	0	–	–	–	–	–
Profit	–	−4	−5	–	–	–	–	–
Return on capital	–	−423.3%	−96.7%	–	–	–	–	–
Assets	–	1	5	–	–	–	–	–
Liabilities	–	0	0	–	–	–	–	–
Capital employed	–	1	5	–	–	–	–	–

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

Profit and loss

Consolidated, ₹ crore, years to March.Newgen Software Technologies quarterly results

₹ crore	Mar 2018	Mar 2019Filed 16 May	Mar 2020Filed 26 May	Mar 2021Filed 25 May	Mar 2022Filed 4 May	Mar 2023Filed 3 May	Mar 2024Filed 2 May	Mar 2025Filed 10 Jun	Mar 2026Filed 30 Apr
Revenue from operations	512	621	661	673	779	974	1,244	1,487	1,574
	415	493	556	481	584	762	956	1,111	1,169
Materials and goods bought	–	0	0	0	0	0	0	0	0
Employee costs	249	288	342	328	409	516	628	741	742
Other expenses	166	205	214	153	175	246	327	370	426
Operating profit before depreciation	98	128	105	192	195	212	288	376	406
Operating margin	19.0%	20.6%	15.8%	28.5%	25.0%	21.8%	23.2%	25.3%	25.8%
Materials, % of revenue	–	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Employee costs, % of revenue	48.6%	46.4%	51.8%	48.7%	52.5%	53.0%	50.5%	49.8%	47.1%
Other expenses, % of revenue	32.4%	33.0%	32.4%	22.8%	22.5%	25.2%	26.3%	24.9%	27.1%
Depreciation and amortisation	6	6	20	20	18	25	28	33	37
Operating profit after depreciation	92	122	85	172	177	188	260	343	369
Other income	8	20	21	15	30	34	48	64	67
Finance costs	5	9	11	6	3	4	4	5	5
Profit before one-off items and tax	94	134	95	181	203	217	304	402	431
One-off items	0	0	0	0	0	0	0	0	−43
Profit before tax	94	134	95	181	203	217	304	402	387
	21	31	22	55	39	41	53	87	87
Current tax	–	30	27	53	34	44	60	99	108
Deferred tax	–	1	−5	2	6	−3	−7	−12	−22
Net profit	73	102	73	126	164	176	252	315	301
Other comprehensive income	–	0	2	2	−1	5	−2	4	27
Total comprehensive income	–	102	75	129	163	181	249	319	328
Net margin	14.2%	16.5%	11.0%	18.8%	21.1%	18.1%	20.2%	21.2%	19.1%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2018 they do not, so they are left blank.

Balance sheet

Consolidated, ₹ crore, at 31 March. The last column is the half year to Sep 2026, after the latest full year: the balance sheet at its end.

₹ crore	Mar 2019Filed 16 May	Mar 2020Filed 26 May	Mar 2021Filed 25 May	Mar 2022Filed 4 May	Mar 2023Filed 3 May	Mar 2024Filed 2 May	Mar 2025Filed 10 Jun	Mar 2026Filed 30 Apr	Sep 2026Half yearFiled 23 Oct
	497	549	666	811	977	1,224	1,516	1,777	1,853
Share capital	68	69	69	70	70	140	140	141	142
Reserves	428	480	596	742	907	1,084	1,376	1,636	1,711
	78	75	0	6	4	49	0	0	0
Repayable after a year	10	0	0	4	2	35	0	0	0
Repayable within a year	68	75	0	2	2	14	0	0	0
	216	276	212	239	296	380	432	550	451
Trade payables	22	28	23	36	35	48	50	55	53
Other financial liabilities	39	55	50	48	50	258	74	94	66
Other liabilities	84	114	117	139	184	33	268	354	302
Provisions	4	5	5	6	9	9	10	28	15
Tax owed	–	–	18	7	16	18	30	19	15
	30	46	42	57	69	83	96	115	118
Other financial liabilities	–	23	14	15	28	0	41	26	29
Provisions	19	23	29	33	35	49	56	89	89
Deferred tax	0	0	0	4	3	0	0	–	–
Total assets	743	871	921	1,107	1,342	1,686	2,045	2,442	2,422
	178	268	262	347	496	363	376	408	396
Plant in use, after depreciation	68	66	158	163	165	165	172	163	–
Plant being built	83	91	0	0	0	3	0	1	–
Intangible assets	1	64	47	64	77	81	84	73	75
Goodwill	0	0	0	3	3	3	3	3	3
Loans given	4	4	3	0	0	0	0	0	0
Other financial assets	3	4	34	101	233	84	95	126	110
Deferred tax	18	23	20	16	18	28	21	42	47
Other assets	1	17	0	0	0	0	0	0	0
	564	603	659	760	846	1,323	1,669	2,035	2,026
Trade receivables	253	269	239	279	388	444	557	708	635
Cash and cash equivalents	158	100	72	104	108	125	104	104	146
Other bank balances	21	65	170	172	100	251	312	308	292
Current investments	52	76	83	92	131	365	508	703	744
Loans given	0	1	2	0	0	0	1	1	1
Other financial assets	63	83	76	88	84	95	20	18	19
Tax paid in advance	10	0	10	14	18	17	22	20	25
Other assets	8	8	7	11	15	27	147	173	163
Net debt	−153	−167	−325	−362	−336	−692	−924	−1,115	−1,182

Borrowings are counted again inside the liabilities due within a year and after a year. Plant in use and plant being built are given for full years only. No balance sheet is on record for the year to Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March. The last column is the half year to Sep 2026, after the latest full year: the cash flow over its six months.

₹ crore	Mar 2021Filed 25 May	Mar 2022Filed 4 May	Mar 2023Filed 3 May	Mar 2024Filed 2 May	Mar 2025Filed 10 Jun	Mar 2026Filed 30 Apr	Sep 2026Half yearFiled 23 Oct
	216	143	136	281	215	232	108
	247	191	176	337	286	351	163
	23	−36	−73	−8	−155	−86	−23
Receivables	−1	−53	−120	−87	−144	−155	56
Payables	−5	15	5	14	6	−10	−3
Other working capital	29	2	42	65	−17	79	−75
Tax paid	−31	−48	−40	−55	−71	−119	−55
Capital spending	12	13	17	14	23	10	9
Free cash flow	204	130	120	268	192	222	99
	−143	−81	−94	−219	−172	−162	24
Plant and property sold	0	0	0	0	0	1	0
Companies bought	0	−7	0	0	0	0	0
Interest received	8	14	15	17	33	31	12
	−102	−32	−44	−47	−68	−87	−92
Borrowings repaid	−75	0	−2	−2	−2	0	0
Interest paid	−1	0	0	0	0	0	0
Lease payments	−14	−9	0	0	−15	−25	−10
Dividends paid	14	24	31	35	56	71	86
Shares bought back	0	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0	0
Net change in cash	−30	30	−2	15	−25	−18	40

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 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Newgen Software Technologies dividend history

₹ per share	Mar 2018	Mar 2019Filed 16 May	Mar 2020Filed 26 May	Mar 2021Filed 25 May	Mar 2022Filed 4 May	Mar 2023Filed 3 May	Mar 2024Filed 2 May	Mar 2025Filed 10 Jun	Mar 2026Filed 30 Apr
	₹5.72	₹7.51	₹5.28	₹9.14	₹11.83	₹12.66	₹18.02	₹22.53	₹21.38
As stated that year	₹11.44	₹15.01	₹10.56	₹18.28	₹23.65	₹25.32	₹18.02	₹22.53	₹21.38
	₹5.58	₹7.37	₹5.26	₹9.05	₹11.75	₹12.50	₹17.50	₹21.89	₹21.24
As stated that year	₹11.15	₹14.74	₹10.51	₹18.10	₹23.50	₹25.00	₹17.50	₹21.89	₹21.24
	₹1.00	₹1.50	₹1.00	₹1.75	₹2.25	₹2.50	₹4.00	₹5.00	₹6.00
As declared that year	₹2.00	₹3.00	₹2.00	₹3.50	₹4.50	₹5.00	₹4.00	₹5.00	₹6.00
	–	₹36.28	₹39.74	₹48.03	₹58.34	₹70.11	₹87.53	₹108.15	₹125.91
On that year's share count	–	₹72.56	₹79.47	₹96.05	₹116.68	₹140.23	₹87.53	₹108.15	₹125.91
Dividend payout	19.0%	20.1%	19.0%	19.2%	19.1%	19.8%	22.2%	22.2%	28.2%
Shareholder yield	–	–	–	0.7%	0.8%	1.0%	0.3%	0.4%	1.2%
Market cap at the year end (₹ crore)	1,605	2,275	737	1,980	3,257	3,153	11,144	13,977	5,725

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.

Ratios

Consolidated, years to March.Newgen Software Technologies PE ratio and valuation

Ratio	Mar 2018	Mar 2019Filed 16 May	Mar 2020Filed 26 May	Mar 2021Filed 25 May	Mar 2022Filed 4 May	Mar 2023Filed 3 May	Mar 2024Filed 2 May	Mar 2025Filed 10 Jun	Mar 2026Filed 30 Apr
Revenue growth	–	21.1%	6.5%	1.8%	15.8%	25.0%	27.7%	19.5%	5.9%
Operating profit growth	–	30.9%	−18.1%	83.5%	1.4%	9.0%	35.9%	30.5%	7.9%
Net profit growth	–	40.2%	−28.8%	73.9%	29.8%	7.3%	42.7%	25.3%	−4.7%
Earnings per share growth	–	31.2%	−29.7%	73.1%	29.4%	7.1%	42.3%	25.0%	−5.1%
	–	20.6%	13.9%	20.8%	22.2%	19.7%	22.9%	23.0%	18.3%
	–	–	−6.7 pts	6.9 pts	1.4 pts	−2.5 pts	3.2 pts	0.1 pts	−4.8 pts
From the net margin	–	–	−6.8 pts	9.9 pts	2.5 pts	−3.1 pts	2.3 pts	1.1 pts	−2.3 pts
From asset turnover	–	–	−0.3 pts	−2.0 pts	0.5 pts	0.7 pts	0.7 pts	−0.7 pts	−2.5 pts
From borrowing	–	–	0.4 pts	−1.0 pts	−1.7 pts	0.0 pts	0.1 pts	−0.2 pts	0.0 pts
Return on capital employed	–	21.2%	13.6%	25.8%	21.7%	19.1%	20.5%	22.6%	20.8%
Cash conversion	–	–	–	170.5%	86.9%	77.4%	111.9%	68.2%	77.1%
Interest cover	17.6	14.3	7.8	30.5	50.7	44.1	62.3	71.9	67.5
Debt to equity	–	0.16	0.14	0.00	0.01	0.00	0.04	0.00	0.00
Receivable days	–	149	149	129	131	145	130	137	164
Working capital days	–	109	89	66	72	79	63	77	86
Asset turnover	–	0.84	0.82	0.75	0.77	0.80	0.82	0.80	0.70
Assets per rupee of net worth	–	1.50	1.54	1.47	1.37	1.37	1.38	1.36	1.36
Sales per rupee of plant	–	9.18	9.95	4.26	4.79	5.91	7.56	8.64	9.66
Capital spending to depreciation	–	–	–	0.58	0.72	0.68	0.49	0.71	0.27
Plant being built, % of plant in use	–	123.0%	136.6%	0.0%	0.0%	0.0%	1.7%	0.0%	0.7%

No balance sheet is on record for the year to 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: 13.4%
Cash from operations against operating profit: 57.1%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	18.5%	17.4%
Profit growth, yearly rate	–	18.9%	19.5%
Return on equity, average	–	21.2%	21.4%
Return on capital employed, average	–	20.9%	21.3%
Operating margin, average	22.8%	24.2%	24.8%
Net margin, average	17.8%	19.9%	20.2%
Asset turnover, average	–	0.78	0.77
Interest cover, average	40.7	59.3	67.2
Debt to equity, average	–	0.01	0.01

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	1,007	728	232
Cash from investing	−728	−553	−162
Cash from financing	−279	−203	−87
Capital spending	76	47	10
Dividends paid	218	162	71
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	0	0	0
Borrowings repaid	7	5	0

Accounting checks

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

Check	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	–	–	–	5	5	4	6	4	2
Altman Z-scorePublished threshold 1.1	–	8.36	6.87	9.40	9.41	8.80	9.77	10.51	10.06
Beneish M-scorePublished threshold −1.78	–	–	–	−2.96	−2.02	−1.86	−2.68	−2.05	−2.14
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	6.00	10.06	10.96	12.48	14.60	10.29
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	1.06	0.95	0.85	0.84
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	0.15	−13.25	1.10	14.15	−13.44	5.97	21.34
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	1.55	0.41	2.47	0.53	1.66	3.36	1.42
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	4.85	0.00	0.00	0.00	0.10	0.00	0.04
Effective tax ratePublished threshold 17.16 per cent	22.57	23.49	23.23	30.18	19.29	18.88	17.30	21.58	22.39
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	−4.26	0.70	−0.85	3.97	−8.25

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
2 Sep 2026	CRISIL Ratings Limited (opens in a new tab)	Bank Facilities	Crisil A1Review, Re-affirm		115

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