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Ceinsys Tech Ltd

CEINSYS

NSE

₹674.30-3.20%19 Oct 2026

Reports

Geospatial

Ceinsys Tech Ltd

CEINSYS

NSE

₹674.30

-3.20%

19 Oct 2026

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Geospatial

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Guidance Report: Management guidance vs outcomes.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

Ceinsys Tech is a technology company that builds the digital backbone for physical infrastructure - it captures the real world through satellites, drones and sensors, then layers on engineering models and artificial intelligence so that governments and manufacturers can plan, build and maintain assets with far less waste and risk. Founded in 1998 in Nagpur and part of the Meghe Group, the company spent its first two decades as a geospatial specialist before acquiring Allygrow Technologies in FY2022 to add vehicle and factory engineering, then bought a U.S. geospatial firm in FY2025 to anchor its American presence - a pattern of using acquisitions to bolt on adjacent capabilities and geographic reach. The recurring approach is to integrate data capture, engineering design and AI-powered analytics into a single stack, so that a water utility or an automotive OEM gets not just a map or a drawing but a live, decision-ready digital twin of the asset.

Business segments

Three engines at different stages - a geospatial-and-engineering cash cow built over 27 years, a mobility engineering practice acquired and now deeply embedded with a German automotive partner, and a fast-scaling technology-solutions platform that turns sensor data and AI into recurring revenue.

1. Geospatial and engineering services: the legacy engine that maps the world and keeps the order book full

This is the company’s foundation - it wins long-term government and utility contracts to survey, map and model land, water and power networks, then increasingly earns subscription fees for keeping those digital systems alive.

Project-by-project backbone with a subscription tail - the business secures large contracts (the order book stood at INR 876 crores as of March 2026, excluding mobility work) and also generates recurring subscription revenue, so each completed project can become an annuity stream.
Captures reality from the sky and the ground - it deploys LiDAR, UAV photogrammetry, laser scanning and high-density mapping to create precise spatial data, then feeds that into engineering models and decision-support dashboards.
Water and land are the anchor clients - it provides GIS-driven water-infrastructure solutions for India’s Jal Jeevan Mission (extended to 2028 for full rural coverage) and won a INR 41-crore contract from MHADA for a GIS-based housing platform, while also building Georgia’s national land information system abroad.
Partnerships open doors abroad - a December 2025 agreement with Singapore-based Aetosky and a January 2026 partnership with Tech Mahindra are explicitly aimed at jointly selling geospatial and AI solutions into the GCC, Europe and North America, extending reach without building a salesforce from scratch.

2. Mobility engineering services: the acquired engine that designs vehicles and factories for global OEMs

Born from the FY2022 acquisition of Allygrow Technologies, this vertical takes a car or tractor from a sketch to a production-ready assembly line - and its joint venture with Germany’s Grammer AG gives it a captive client for seating and interior work.

Covers the full product lifecycle - it handles concept design, feasibility studies, detail engineering, virtual validation and engineering change management for passenger cars, commercial vehicles, off-highway equipment and two- and three-wheelers.
Designs the factory, not just the vehicle - the same team provides plant-design consulting, tool simulation, robotics automation and integration, using Industry 4.0 concepts like IoT and IIoT to create paperless, connected manufacturing environments.
A built-in client through a joint venture - AllyGram (70% owned by Ceinsys, 30% by Grammer AG) functions as an extension of Grammer’s R&D centre and delivers engineering services exclusively to Grammer, providing a stable base of work in automotive seating and interior systems.
EV and digital manufacturing are the growth wedge - the company explicitly targets the rapid expansion of the electric-vehicle ecosystem, where global automotive engineering R&D spending runs at USD 125-160 billion and is growing at roughly 10.6% a year.

3. Technology solutions: the platform engine turning sensor data into recurring revenue

This is the fastest-growing piece - it builds IoT dashboards, AI-driven digital twins and embedded electronics that monitor water pipes, power lines and construction sites in real time, shifting the company from one-off projects toward software-style recurring income.

Smart utilities that watch infrastructure live - the IoT suite connects edge sensors, SCADA systems and cloud dashboards to detect leaks, diagnose asset health and predict failures in water, power and pipeline networks before they happen.
Digital twins for megaprojects - the Digital Project Management System fuses 3D, 4D and 5D models with project schedules and cost data into a common data environment, giving project owners a single source of truth for transparency and precision.
AI reads the physical world - scan-to-model solutions use AI to convert point-cloud data from LiDAR and photogrammetry into intelligent, BIM-ready models with automated object classification, cutting manual modelling time and improving accuracy.
Embedded intelligence at the device level - the company builds custom sensor integrations, embedded controllers and edge AI modules that sit inside mobility, manufacturing and utility assets for real-time control and autonomous decision-making.
Powered by a dedicated tech-play unit - a separate vertical focused on AI, machine learning and embedded electronics develops platforms that feed all three business segments, while partnerships with Autodesk, Bentley, ESRI and Siemens provide the software backbone and resale revenue.

Group structure and partners

Ceinsys operates through a network of subsidiaries across the US, Europe and Singapore, anchored by a German joint venture and a recently expanded American beachhead.

US subsidiary doubled as an acquisition vehicle - wholly owned Technology Associates Inc. bought the assets of geospatial firm Virtual Tours LLC (VTS) in July 2024 for USD 2 million, gaining telecom-sector exposure, and received a further USD 2.16 million equity infusion in April 2026.
AllyGram locks in European automotive work - the 70:30 joint venture with Grammer AG of Germany delivers engineering services exclusively to Grammer, functioning as its extended R&D centre.
Global footprint with a Singapore gateway - subsidiaries in Germany, the UK, the Netherlands and Singapore (established July 2024) give the company local presence for selling technology-enabled services into Europe and Southeast Asia.
Key technology alliances - the company is a Gold Partner with Autodesk, holds an Exclusive Platinum Partnership with Bentley, and is one of the top five Autodesk partners in India; it also partners with ESRI, Siemens and AVEVA, and resells software from all of them.

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Balance Sheet

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Quarterly Results

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Balance Sheet

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Ratios

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Mkt Cap

Market Capitalization

₹1,399Cr

Close Price

₹668.00

Industry

Geospatial

Price To Earnings

9.36

Price To Sales

2.11

Revenue

₹662Cr

Rev Gr TTM

Revenue Growth TTM

32.16%

PAT Gr TTM

PAT Growth TTM

59.97%

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	58	63	78	74	90	112	142	157	163	170	171	158
Growth YoY Revenue Growth YoY%	9.0	20.1	7.3	37.2	54.5	78.6	81.9	112.1	81.5	52.0	19.9	0.8
Expenses ExpensesCr	48	52	66	61	73	91	116	126	128	130	130	119
Operating Profit Operating ProfitCr	10	11	12	13	17	21	27	30	36	40	40	38
OPM OPM%	16.9	16.9	15.7	17.9	18.6	19.0	18.8	19.3	21.8	23.5	23.6	24.4
Other Income Other IncomeCr	3	4	6	5	6	6	6	7	8	6	6	8
Interest Expense Interest ExpenseCr	1	1	1	0	0	0	2	1	1	2	2	1
Depreciation DepreciationCr	1	1	1	1	2	3	3	3	3	3	3	3
PBT PBTCr	10	13	16	16	21	24	28	34	40	41	42	42
Tax TaxCr	6	2	4	4	9	6	7	2	14	2	5	11
PAT PATCr	5	10	12	12	12	18	22	32	26	39	37	31
Growth YoY PAT Growth YoY%	210.7	280.9	-45.3	42.3	150.0	71.9	88.4	165.7	120.9	118.3	70.0	-2.2
NPM NPM%	8.0	16.6	14.8	16.1	12.9	15.9	15.4	20.2	15.8	22.9	21.8	19.6
EPS EPS₹	3.0	6.7	7.3	7.3	7.1	10.2	12.5	18.1	14.5	21.8	20.3	14.8

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	58	63	78	74	90	112	142	157	163	170	171	158
Growth YoY Revenue Growth YoY%	9.0	20.1	7.3	37.2	54.5	78.6	81.9	112.1	81.5	52.0	19.9	0.8
Expenses ExpensesCr	48	52	66	61	73	91	116	126	128	130	130	119
Operating Profit Operating ProfitCr	10	11	12	13	17	21	27	30	36	40	40	38
OPM OPM%	16.9	16.9	15.7	17.9	18.6	19.0	18.8	19.3	21.8	23.5	23.6	24.4
Other Income Other IncomeCr	3	4	6	5	6	6	6	7	8	6	6	8
Interest Expense Interest ExpenseCr	1	1	1	0	0	0	2	1	1	2	2	1
Depreciation DepreciationCr	1	1	1	1	2	3	3	3	3	3	3	3
PBT PBTCr	10	13	16	16	21	24	28	34	40	41	42	42
Tax TaxCr	6	2	4	4	9	6	7	2	14	2	5	11
PAT PATCr	5	10	12	12	12	18	22	32	26	39	37	31
Growth YoY PAT Growth YoY%	210.7	280.9	-45.3	42.3	150.0	71.9	88.4	165.7	120.9	118.3	70.0	-2.2
NPM NPM%	8.0	16.6	14.8	16.1	12.9	15.9	15.4	20.2	15.8	22.9	21.8	19.6
EPS EPS₹	3.0	6.7	7.3	7.3	7.1	10.2	12.5	18.1	14.5	21.8	20.3	14.8

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	133	144	141	176	197	185	203	220	253	418	661	662
Growth Revenue Growth%	23.1	8.4	-2.3	25.4	11.9	-6.2	9.5	8.2	15.2	65.3	58.0	32.2
Expenses ExpensesCr	110	123	121	154	149	169	181	188	209	340	515	508
Operating Profit Operating ProfitCr	23	21	20	23	49	16	22	32	44	78	146	154
OPM OPM%	17.0	14.7	14.1	12.8	24.7	8.6	10.9	14.4	17.4	18.7	22.1	23.3
Other Income Other IncomeCr	1	3	5	3	2	2	4	10	15	22	28	28
Interest Expense Interest ExpenseCr	12	14	15	16	16	12	9	8	5	3	6	7
Depreciation DepreciationCr	3	4	4	4	4	3	3	5	5	8	11	11
PBT PBTCr	9	6	5	5	31	2	13	29	50	90	156	164
Tax TaxCr	5	1	1	2	9	0	4	-2	15	26	23	31
PAT PATCr	5	6	5	3	22	2	10	31	35	63	133	133
Growth PAT Growth%	-34.8	23.2	-18.8	-23.9	543.5	-91.0	377.4	224.5	13.3	80.7	111.0	60.0
NPM NPM%	3.4	3.9	3.2	1.9	11.2	1.1	4.7	14.1	13.8	15.1	20.2	20.1
EPS EPS₹	4.5	5.1	4.3	3.1	19.9	1.8	8.1	20.0	22.5	37.4	74.8	71.3

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	133	144	141	176	197	185	203	220	253	418	661	662
Growth Revenue Growth%	23.1	8.4	-2.3	25.4	11.9	-6.2	9.5	8.2	15.2	65.3	58.0	32.2
Expenses ExpensesCr	110	123	121	154	149	169	181	188	209	340	515	508
Operating Profit Operating ProfitCr	23	21	20	23	49	16	22	32	44	78	146	154
OPM OPM%	17.0	14.7	14.1	12.8	24.7	8.6	10.9	14.4	17.4	18.7	22.1	23.3
Other Income Other IncomeCr	1	3	5	3	2	2	4	10	15	22	28	28
Interest Expense Interest ExpenseCr	12	14	15	16	16	12	9	8	5	3	6	7
Depreciation DepreciationCr	3	4	4	4	4	3	3	5	5	8	11	11
PBT PBTCr	9	6	5	5	31	2	13	29	50	90	156	164
Tax TaxCr	5	1	1	2	9	0	4	-2	15	26	23	31
PAT PATCr	5	6	5	3	22	2	10	31	35	63	133	133
Growth PAT Growth%	-34.8	23.2	-18.8	-23.9	543.5	-91.0	377.4	224.5	13.3	80.7	111.0	60.0
NPM NPM%	3.4	3.9	3.2	1.9	11.2	1.1	4.7	14.1	13.8	15.1	20.2	20.1
EPS EPS₹	4.5	5.1	4.3	3.1	19.9	1.8	8.1	20.0	22.5	37.4	74.8	71.3

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	9	9	11	11	11	11	15	15	16	17	21
Reserves ReservesCr	32	42	61	60	79	78	147	183	218	351	652
Current Liabilities Current LiabilitiesCr	121	133	151	178	157	166	128	111	88	158	244
Non Current Liabilities Non Current LiabilitiesCr	19	10	8	5	3	1	2	3	4	8	12
Total Liabilities Total LiabilitiesCr	180	194	231	254	250	256	300	313	326	578	930
Current Assets Current AssetsCr	148	156	192	210	208	222	220	221	229	446	781
Non Current Assets Non Current AssetsCr	32	38	39	44	42	35	80	92	97	132	149
Total Assets Total AssetsCr	180	194	231	254	250	256	300	313	326	578	930

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	9	9	11	11	11	11	15	15	16	17	21
Reserves ReservesCr	32	42	61	60	79	78	147	183	218	351	652
Current Liabilities Current LiabilitiesCr	121	133	151	178	157	166	128	111	88	158	244
Non Current Liabilities Non Current LiabilitiesCr	19	10	8	5	3	1	2	3	4	8	12
Total Liabilities Total LiabilitiesCr	180	194	231	254	250	256	300	313	326	578	930
Current Assets Current AssetsCr	148	156	192	210	208	222	220	221	229	446	781
Non Current Assets Non Current AssetsCr	32	38	39	44	42	35	80	92	97	132	149
Total Assets Total AssetsCr	180	194	231	254	250	256	300	313	326	578	930

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-31	5	-3	24	36	23	26	47	49	6	3
Investing Cash Flow Investing Cash FlowCr	-5	-10	-8	0	4	1	-1	-9	-5	-53	-126
Financing Cash Flow Financing Cash FlowCr	35	3	11	-23	-39	-24	-21	-20	-65	49	117
Net Cash Flow Net Cash FlowCr	0	-2	0	0	0	-1	4	18	-21	1	-5
Free Cash Flow Free Cash FlowCr	-36	2	-9	22	34	22	24	45	47	-30	-8
CFO To PAT CFO To PAT%	-680.8	90.1	-76.5	690.8	161.2	1,139.1	277.3	152.1	140.1	9.0	2.6
CFO To EBITDA CFO To EBITDA%	-136.3	23.8	-17.5	104.9	73.1	142.1	119.0	148.1	111.2	7.3	2.4

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-31	5	-3	24	36	23	26	47	49	6	3
Investing Cash Flow Investing Cash FlowCr	-5	-10	-8	0	4	1	-1	-9	-5	-53	-126
Financing Cash Flow Financing Cash FlowCr	35	3	11	-23	-39	-24	-21	-20	-65	49	117
Net Cash Flow Net Cash FlowCr	0	-2	0	0	0	-1	4	18	-21	1	-5
Free Cash Flow Free Cash FlowCr	-36	2	-9	22	34	22	24	45	47	-30	-8
CFO To PAT CFO To PAT%	-680.8	90.1	-76.5	690.8	161.2	1,139.1	277.3	152.1	140.1	9.0	2.6
CFO To EBITDA CFO To EBITDA%	-136.3	23.8	-17.5	104.9	73.1	142.1	119.0	148.1	111.2	7.3	2.4

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	48	127	190	118	92	138	248	196	961	2,376	1,867	1,399
Price To Earnings Price To Earnings	11.1	22.8	42.2	34.2	4.2	69.2	26.9	6.4	27.5	37.6	14.0	9.4
Price To Sales Price To Sales	0.4	0.9	1.4	0.7	0.5	0.7	1.2	0.9	3.8	5.7	2.8	2.1
Price To Book Price To Book	1.2	2.5	2.6	1.7	1.0	1.6	1.5	1.0	4.1	6.5	2.8	2.1
EV To EBITDA EV To EBITDA	5.9	11.2	14.9	9.7	3.6	13.4	12.8	6.6	21.4	29.0	11.2	7.9
Profitability Ratios Profitability Ratios
GPM GPM%	58.5	62.6	55.7	50.3	52.3	33.4	40.6	67.4	70.8	62.0	53.3	53.3
OPM OPM%	17.0	14.7	14.1	12.8	24.7	8.6	10.9	14.4	17.4	18.7	22.1	23.3
NPM NPM%	3.4	3.9	3.2	1.9	11.2	1.1	4.7	14.1	13.8	15.1	20.2	20.1
ROCE ROCE%	15.2	12.3	10.8	11.2	25.3	8.1	10.1	14.6	22.4	22.0	22.3	22.3
ROE ROE%	11.1	10.8	6.3	4.8	24.6	2.2	5.8	15.6	14.9	17.2	19.8	19.8
ROA ROA%	2.5	2.9	2.0	1.4	8.9	0.8	3.2	9.9	10.7	10.9	14.3	14.3
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	48	127	190	118	92	138	248	196	961	2,376	1,867	1,399
Price To Earnings Price To Earnings	11.1	22.8	42.2	34.2	4.2	69.2	26.9	6.4	27.5	37.6	14.0	9.4
Price To Sales Price To Sales	0.4	0.9	1.4	0.7	0.5	0.7	1.2	0.9	3.8	5.7	2.8	2.1
Price To Book Price To Book	1.2	2.5	2.6	1.7	1.0	1.6	1.5	1.0	4.1	6.5	2.8	2.1
EV To EBITDA EV To EBITDA	5.9	11.2	14.9	9.7	3.6	13.4	12.8	6.6	21.4	29.0	11.2	7.9
Profitability Ratios Profitability Ratios
GPM GPM%	58.5	62.6	55.7	50.3	52.3	33.4	40.6	67.4	70.8	62.0	53.3	53.3
OPM OPM%	17.0	14.7	14.1	12.8	24.7	8.6	10.9	14.4	17.4	18.7	22.1	23.3
NPM NPM%	3.4	3.9	3.2	1.9	11.2	1.1	4.7	14.1	13.8	15.1	20.2	20.1
ROCE ROCE%	15.2	12.3	10.8	11.2	25.3	8.1	10.1	14.6	22.4	22.0	22.3	22.3
ROE ROE%	11.1	10.8	6.3	4.8	24.6	2.2	5.8	15.6	14.9	17.2	19.8	19.8
ROA ROA%	2.5	2.9	2.0	1.4	8.9	0.8	3.2	9.9	10.7	10.9	14.3	14.3
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	MAPMYINDIA	GENESYS	CEINSYS
Market CapitalizationMkt CapCr	4,814	1,510	1,399
Close PriceClose₹	878.30	225.85	668.00
IndustryIndustry	Geospatial	Geospatial	Geospatial
Price To EarningsPE	34.96	44.55	9.36
Price To SalesPS	9.78	4.46	2.11
RevenueRevenueCr	492	338	662
Revenue Growth TTMRev Gr TTM%	1.8%	3.7%	32.2%
PAT Growth TTMPAT Gr TTM%	-12.4%	-46.2%	60.0%

	MAPMYINDIA	GENESYS	CEINSYS
Market CapitalizationMkt CapCr	4,814	1,510	1,399
Close PriceClose₹	878.30	225.85	668.00
IndustryIndustry	Geospatial	Geospatial	Geospatial
Price To EarningsPE	34.96	44.55	9.36
Price To SalesPS	9.78	4.46	2.11
RevenueRevenueCr	492	338	662
Revenue Growth TTMRev Gr TTM%	1.8%	3.7%	32.2%
PAT Growth TTMPAT Gr TTM%	-12.4%	-46.2%	60.0%

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