Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹2,248Cr
Rev Gr TTM
Revenue Growth TTM
78.67%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

CEINSYS
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 28.1 | 31.2 | 9.0 | 20.1 | 7.3 | 37.2 | 54.5 | 78.6 | 81.9 | 112.1 | 81.5 | 52.0 |
| 51 | 42 | 48 | 52 | 66 | 61 | 73 | 91 | 116 | 126 | 128 | 130 |
Operating Profit Operating ProfitCr |
| 29.9 | 21.1 | 16.9 | 16.9 | 15.7 | 17.9 | 18.6 | 19.0 | 18.8 | 19.3 | 21.8 | 23.5 |
Other Income Other IncomeCr | 4 | 2 | 3 | 4 | 6 | 5 | 6 | 6 | 6 | 7 | 8 | 6 |
Interest Expense Interest ExpenseCr | 2 | 2 | 1 | 1 | 1 | 0 | 0 | 0 | 2 | 1 | 1 | 2 |
Depreciation DepreciationCr | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 3 | 3 |
| 22 | 11 | 10 | 13 | 16 | 16 | 21 | 24 | 28 | 34 | 40 | 41 |
| 1 | 3 | 6 | 2 | 4 | 4 | 9 | 6 | 7 | 2 | 14 | 2 |
|
Growth YoY PAT Growth YoY% | 476.9 | 53.9 | 210.7 | 280.9 | -45.3 | 42.3 | 150.0 | 71.9 | 88.4 | 165.7 | 120.9 | 118.3 |
| 29.1 | 15.6 | 8.0 | 16.6 | 14.8 | 16.1 | 12.9 | 15.9 | 15.4 | 20.2 | 15.8 | 22.9 |
| 13.8 | 5.4 | 3.0 | 6.7 | 7.3 | 7.3 | 7.1 | 10.2 | 12.5 | 18.1 | 14.5 | 21.8 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| 36.6 | 23.1 | 8.4 | -2.3 | 25.4 | 11.9 | -6.2 | 9.5 | 8.2 | 15.2 | 65.3 | 51.3 |
| 89 | 110 | 123 | 121 | 154 | 149 | 169 | 181 | 188 | 209 | 340 | 500 |
Operating Profit Operating ProfitCr |
| 17.9 | 17.0 | 14.7 | 14.1 | 12.8 | 24.7 | 8.6 | 10.9 | 14.4 | 17.4 | 18.7 | 21.0 |
Other Income Other IncomeCr | 1 | 1 | 3 | 5 | 3 | 2 | 2 | 4 | 10 | 15 | 22 | 27 |
Interest Expense Interest ExpenseCr | 8 | 12 | 14 | 15 | 16 | 16 | 12 | 9 | 8 | 5 | 3 | 6 |
Depreciation DepreciationCr | 2 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 5 | 5 | 8 | 11 |
| 10 | 9 | 6 | 5 | 5 | 31 | 2 | 13 | 29 | 50 | 90 | 143 |
| 3 | 5 | 1 | 1 | 2 | 9 | 0 | 4 | -2 | 15 | 26 | 25 |
|
| 14.1 | -34.8 | 23.2 | -18.8 | -23.9 | 543.5 | -91.0 | 377.4 | 224.5 | 13.3 | 80.7 | 86.8 |
| 6.4 | 3.4 | 3.9 | 3.2 | 1.9 | 11.2 | 1.1 | 4.7 | 14.1 | 13.8 | 15.1 | 18.7 |
| 6.9 | 4.5 | 5.1 | 4.3 | 3.1 | 19.9 | 1.8 | 8.1 | 20.0 | 22.5 | 37.4 | 67.0 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 9 | 9 | 9 | 11 | 11 | 11 | 11 | 15 | 15 | 16 | 17 | 18 |
| 28 | 32 | 42 | 61 | 60 | 79 | 78 | 147 | 183 | 218 | 351 | 449 |
Current Liabilities Current LiabilitiesCr | 68 | 121 | 133 | 151 | 178 | 157 | 166 | 126 | 111 | 88 | 158 | 258 |
Non Current Liabilities Non Current LiabilitiesCr | 18 | 19 | 10 | 8 | 5 | 3 | 1 | 2 | 3 | 4 | 8 | 13 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 88 | 148 | 156 | 192 | 210 | 208 | 222 | 220 | 221 | 229 | 446 | 594 |
Non Current Assets Non Current AssetsCr | 34 | 32 | 38 | 39 | 44 | 42 | 35 | 79 | 92 | 97 | 132 | 144 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 3 | -31 | 5 | -3 | 24 | 36 | 23 | 26 | 47 | 49 | 6 |
Investing Cash Flow Investing Cash FlowCr | -5 | -5 | -10 | -8 | 0 | 4 | 1 | -1 | -9 | -5 | -53 |
Financing Cash Flow Financing Cash FlowCr | 8 | 35 | 3 | 11 | -23 | -39 | -24 | -21 | -20 | -65 | 49 |
|
Free Cash Flow Free Cash FlowCr | -2 | -36 | 2 | -9 | 22 | 34 | 22 | 24 | 45 | 47 | -30 |
| 36.0 | -680.8 | 90.1 | -76.5 | 690.8 | 161.2 | 1,139.1 | 277.3 | 152.1 | 140.1 | 9.0 |
CFO To EBITDA CFO To EBITDA% | 12.9 | -136.3 | 23.8 | -17.5 | 104.9 | 73.1 | 142.1 | 119.0 | 148.1 | 111.3 | 7.3 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 53 | 48 | 127 | 190 | 118 | 92 | 138 | 248 | 196 | 961 | 2,376 |
Price To Earnings Price To Earnings | 7.7 | 11.1 | 22.8 | 42.2 | 34.2 | 4.2 | 69.2 | 26.9 | 6.4 | 27.5 | 37.6 |
Price To Sales Price To Sales | 0.5 | 0.4 | 0.9 | 1.4 | 0.7 | 0.5 | 0.7 | 1.2 | 0.9 | 3.8 | 5.7 |
Price To Book Price To Book | 1.4 | 1.2 | 2.5 | 2.6 | 1.7 | 1.0 | 1.6 | 1.5 | 1.0 | 4.1 | 6.5 |
| 4.8 | 5.9 | 11.2 | 14.9 | 9.7 | 3.6 | 13.4 | 12.8 | 6.6 | 21.4 | 29.0 |
Profitability Ratios Profitability Ratios |
| 69.9 | 73.4 | 63.3 | 87.6 | 93.4 | 92.3 | 90.7 | 88.9 | 86.3 | 88.1 | 91.5 |
| 17.9 | 17.0 | 14.7 | 14.1 | 12.8 | 24.7 | 8.6 | 10.9 | 14.4 | 17.4 | 18.7 |
| 6.4 | 3.4 | 3.9 | 3.2 | 1.9 | 11.2 | 1.1 | 4.7 | 14.1 | 13.8 | 15.1 |
| 20.2 | 15.2 | 12.3 | 10.8 | 11.2 | 25.3 | 8.1 | 10.1 | 14.6 | 22.4 | 22.0 |
| 18.8 | 11.1 | 10.8 | 6.3 | 4.8 | 24.6 | 2.2 | 5.8 | 15.6 | 14.9 | 17.2 |
| 5.7 | 2.5 | 2.9 | 2.0 | 1.4 | 8.9 | 0.8 | 3.2 | 9.9 | 10.7 | 10.9 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
#### **Overview**
Ceinsys Tech Limited (BSE: 538734), rebranded as **CS TECH Ai** (while retaining Ceinsys Limited as the legal name), is a CMMI Level 5 and ISO-certified Indian technology enterprise with over 25 years of experience. Founded in 1998 under the Meghe Group, the company is headquartered in Nagpur and listed on the BSE. It positions itself as a **digital reality architect**, delivering integrated engineering, geospatial, and AI-driven solutions for infrastructure, utilities, mobility, and smart cities.
CS TECH Ai operates globally with offices in **India, the United States, the United Kingdom, Germany, and Singapore**, leveraging a "GLOCAL" model—global reach with local delivery—to serve a prestigious clientele of governments, public sector undertakings (PSUs), OEMs, global corporations, and asset management firms.
---
#### **Core Focus & Strategic Vision**
CS TECH Ai converges **urbanization, aging infrastructure, and digital transformation** through intelligent, AI-enabled platforms. It is transitioning from traditional project-based services to **scalable, outcome-driven digital platforms** that transform data into actionable digital intelligence across the asset lifecycle.
Key Strategic Pillars:
- Integration of **AI, geospatial intelligence, digital twins, IoT, and embedded electronics**.
- Rebranding to **CS TECH Ai** in FY2024-25 to reflect its evolution into a **global digital intelligence partner**.
- Emphasis on **"outcome engineering"** rather than technology delivery alone.
---
#### **Core Business Segments**
1. **Enterprise Geospatial & Engineering Services (EES)**
*Largest revenue-generating segment.*
- Geospatial data creation, Web-GIS, decision support systems, cadastral/terrain mapping, natural resource management (mining, agriculture, forestry).
- 3D/4D/5D modeling using BIM/GIS integration.
- Hydraulic modeling, feasibility studies (DPRs), smart water solutions, Non-Revenue Water (NRW) reduction, SCADA/automation for utilities.
- Digital Twin Engineering, AI/ML-based spatial analytics, digital monitoring.
2. **Mobility Engineering Services**
- Full lifecycle engineering for **two/three-wheelers, passenger vehicles, commercial fleets, and off-highway equipment**.
- Specialization in **automotive seating and interior systems**.
- Product engineering (concept to CAE validation), digital factory planning, industrial automation, robotics.
- Powered by acquisition of **AllyGrow Technologies**.
3. **Software Products & Technology Solutions**
- Resale of third-party software (Autodesk, Bentley, ESRI, Siemens).
- **Digital Project Management System (DPMS)** and **Integrated Command & Control Center (ICCC)** platforms.
- **Smart Utility IoT Suite** with real-time monitoring, leak detection, and predictive maintenance.
- Development of proprietary platforms in AI, ML, and embedded systems.
4. **Power Generation (Renewables)**
- Investments in **wind and solar power plants**, generating clean energy.
---
#### **Technology & Innovation**
- **AI & Machine Learning**: Developed proprietary AI-powered platforms for geospatial data processing with **>95% accuracy**, two patents filed.
- **Digital Twin Platforms**: AI-driven digital twins for assets, cities, and utilities; enables simulation and optimization.
- **Digital Project Management System (DPMS)**:
- Integrates 3D/4D/5D models with schedule and cost data.
- Creates a **Common Data Environment (CDE)** for megaprojects.
- Features analytical dashboards, PMIS, resource management, and LiDAR-based corridor mapping.
- **Scan-to-Model**: AI-based conversion of LiDAR/photogrammetry point clouds to BIM-ready models, reducing modeling time significantly.
- **Edge AI & Embedded Systems**: Custom sensors and edge modules for real-time control in mobility and utility assets.
---
#### **Digital Platforms & Solutions**
| Platform | Description |
|--------|-------------|
| **CS TECH Ai Platform** | Full-stack geospatial AI platform; integrates data from drones, satellites, sensors; generates visual dashboards for decision-making; supports digital twins. |
| **Smart Water IoT Suite** | Monitors water supply & distribution; supports NRW reduction; integrates edge sensors, cloud dashboards, SCADA, and LPWAN/LoRa. Deployed under **Jal Jeevan Mission**. |
| **Digital Project Management System (DPMS)** | End-to-end infrastructure project lifecycle platform; integrates BIM, ERP, and PMIS; supports remote monitoring and cost control. |
| **Integrated Command and Control Center (ICCC)** | Role-based dashboards, mobile alerts, real-time KPIs for utilities and urban infrastructure. |
---
#### **Key Projects & Government Engagement (2023–2025)**
- **Wainganga-Nalganga River Linking Project (₹381 crore)**: First river-linking project in Maharashtra; involves survey, hydrological study, and DPR using LiDAR, satellite, and photogrammetry. Estimated capital outlay: **₹85,000+ crore**.
- **Jal Jeevan Mission**: IoT-based water monitoring systems deployed across Maharashtra; reduced water losses and improved distribution for millions.
- **SWSM IoT & Digital Monitoring (₹2,060 crore)**: Large-scale water network digitalization.
- **Unified GIS for UPPCL (Uttar Pradesh)**: Integrated 168 R-APDRP and 465 IPDS towns with GIS, ERP, SCADA, and AMI systems.
- **ICCC for Chhattisgarh Mineral Management**: Real-time tracking of mineral transport; expected to generate ₹14,000 crore in state revenue.
- **Maharashtra Irrigation SCADA Project**: Real-time monitoring and automation at thermal power stations.
---
#### **Strategic Growth Initiatives (2024–2026)**
- **$228 Million Capital Mobilized**: To expand in **geospatial, engineering, and technology solutions**.
- **Inorganic Growth**:
- Acquired **AllyGrow Technologies (2022)**: Entry into **mobility and manufacturing** sectors.
- Acquired **VTS (U.S.-based)**: Strengthened 3D reality capture, LiDAR, and North American footprint; added $3–4M in annual revenue.
- **Two more acquisitions in advanced due diligence** (Nov 2025), expected in next 1–2 months.
- **Global Expansion**:
- Offices in **U.S., UK, Germany, Singapore**.
- Active traction in **Middle East & Africa (MEA)**.
- Targeting growth in **Saudi Arabia, U.S., and Europe**.
- **Partnerships** with global tech leaders:
- **Autodesk, Bentley, ESRI, Siemens, AVEVA, DigitalGlobe, Fugro, Applus, CADD Emirates**.
- Exclusive Platinum Partner for Bentley; Top 5 Gold Partner for Autodesk in India.
---
#### **Subsidiaries & Joint Ventures**
| Entity | Nature | Purpose |
|------|--------|---------|
| ADCC Infocom Pvt Ltd | Subsidiary | Core technology and geospatial services |
| Ceinsys Tech (Singapore) Pte. Ltd | Subsidiary | APAC expansion, data centers |
| Technology Associates Inc. | Subsidiary | U.S.-based delivery and engineering services |
| Allygrow Technologies B.V., GmbH, UK Ltd | Subsidiary | Mobility engineering in Europe |
| **Allygram Systems & Technologies Pvt Ltd** | JV (70% Ceinsys, 30% Grammer AG) | Provides R&D services to Grammer; focuses on automotive interiors |
---
#### **New Business Verticals & Innovation**
- **MEG-Next**: Dedicated subsidiary for software product development in **Metaverse, EdTech, Gaming, and Mobility**.
- **Tech-Play Unit**: Internal incubation for AI, IoT, AR/VR, digital twins, and embedded electronics.
- Strategic focus on **AI-first automation, predictive analytics, and edge computing**.
---
#### **Financial Highlights & Operational Metrics (as of Nov 2025)**
- **Order Book**: ₹1,390 crore (as of Dec 2024) with additional pipeline of ₹400–500 crore.
- **Revenue Growth**: 3 consecutive years of positive growth despite procurement delays.
- **Technology Solutions Revenue**: Grew **3.5x in FY25** to ₹213 crore; now **51% of total revenue** (up from 24% in FY24).
- **Revenue Mix Shift**: Moving from services to **high-margin, scalable platform solutions**.
- **Project Delivery**: Executing **100+ projects** with **zero client churn**.
- **Global Team**: **1,300+ technically skilled professionals** across India, U.S., U.K., Germany.
---
#### **Leadership & Governance**
- **Chairman**: Mr. Sagar Meghe (Meghe Group)
- **CEO**: Mr. Prashant Kamat
- **COO**: Mr. Rahul Joharapurkar (India operations)
- **President, Geospatial Americas**: Mr. John Chwalibog (ex-Trimble, FARO; founder of VTS)
- **President, Corporate Development**: Mr. Kelly Yagi (ex-EMC, Rahi Systems)
---
#### **Environmental & Social Impact**
- Support for **Jal Jeevan Mission (until 2028)**; goal: **100% piped water coverage**.
- **Land digitization** using ULPIN / BhuAadhaar for cadastral mapping and smart urban planning.
- **Climate resilience projects**: Smart water, renewables, and intelligent infrastructure.