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Systango Technologies Ltd

SYSTANGO·NSE
226.00+2.40%Tue, 22 Sept '26

Systango Technologies Ltd

SYSTANGO
NSE
226.00
+2.40%
|Tue, 22 Sept '26
SOICxStockScans Reports
6M
Price
Charts
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Quick Ratios

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Mkt Cap
Market Capitalization
332Cr
Close
Close Price
226.00
Industry
Industry
IT - Software
PE
Price To Earnings
10.40
PS
Price To Sales
3.67
Revenue
Revenue
90Cr
Rev Gr TTM
Revenue Growth TTM
34.61%
PAT Gr TTM
PAT Growth TTM
34.34%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterSep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Mar 2026
Revenue
RevenueCr
16162230273029384545
Growth YoY
Revenue Growth YoY%
37.283.120.2-1.06.929.458.117.0
Expenses
ExpensesCr
12131620192020242630
Operating Profit
Operating ProfitCr
4369898141915
OPM
OPM%
27.219.228.631.729.732.029.537.642.233.1
Other Income
Other IncomeCr
01-12223433
Interest Expense
Interest ExpenseCr
0000000000
Depreciation
DepreciationCr
0100000000
PBT
PBTCr
54512101212182218
Tax
TaxCr
1012132334
PAT
PATCr
334108910141814
Growth YoY
PAT Growth YoY%
29.4177.586.7-8.819.259.888.7-3.3
NPM
NPM%
20.621.219.532.130.229.633.736.640.230.2
EPS
EPS
0.00.00.08.85.56.06.69.612.59.3
QuarterSep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Mar 2026
Revenue
RevenueCr
16162230273029384545
Growth YoY
Revenue Growth YoY%
37.283.120.2-1.06.929.458.117.0
Expenses
ExpensesCr
12131620192020242630
Operating Profit
Operating ProfitCr
4369898141915
OPM
OPM%
27.219.228.631.729.732.029.537.642.233.1
Other Income
Other IncomeCr
01-12223433
Interest Expense
Interest ExpenseCr
0000000000
Depreciation
DepreciationCr
0100000000
PBT
PBTCr
54512101212182218
Tax
TaxCr
1012132334
PAT
PATCr
334108910141814
Growth YoY
PAT Growth YoY%
29.4177.586.7-8.819.259.888.7-3.3
NPM
NPM%
20.621.219.532.130.229.633.736.640.230.2
EPS
EPS
0.00.00.08.85.56.06.69.612.59.3

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue
RevenueCr
14233352576790
Growth
Revenue Growth%
60.942.260.18.118.734.6
Expenses
ExpensesCr
11172536394456
Operating Profit
Operating ProfitCr
36816182334
OPM
OPM%
21.327.323.230.430.934.137.7
Other Income
Other IncomeCr
0111476
Interest Expense
Interest ExpenseCr
0000000
Depreciation
DepreciationCr
0011111
PBT
PBTCr
37817212939
Tax
TaxCr
0113457
PAT
PATCr
36714172432
Growth
PAT Growth%
125.520.4104.621.040.234.3
NPM
NPM%
17.624.720.926.729.935.335.3
EPS
EPS
2.35.36.312.811.516.221.7
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue
RevenueCr
14233352576790
Growth
Revenue Growth%
60.942.260.18.118.734.6
Expenses
ExpensesCr
11172536394456
Operating Profit
Operating ProfitCr
36816182334
OPM
OPM%
21.327.323.230.430.934.137.7
Other Income
Other IncomeCr
0111476
Interest Expense
Interest ExpenseCr
0000000
Depreciation
DepreciationCr
0011111
PBT
PBTCr
37817212939
Tax
TaxCr
0113457
PAT
PATCr
36714172432
Growth
PAT Growth%
125.520.4104.621.040.234.3
NPM
NPM%
17.624.720.926.729.935.335.3
EPS
EPS
2.35.36.312.811.516.221.7

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
13315151515
Reserves
ReservesCr
4815476488121
Current Liabilities
Current LiabilitiesCr
245781015
Non Current Liabilities
Non Current LiabilitiesCr
0101000
Total Liabilities
Total LiabilitiesCr
715226986112151
Current Assets
Current AssetsCr
61420627993108
Non Current Assets
Non Current AssetsCr
222771943
Total Assets
Total AssetsCr
715226986112151
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
13315151515
Reserves
ReservesCr
4815476488121
Current Liabilities
Current LiabilitiesCr
245781015
Non Current Liabilities
Non Current LiabilitiesCr
0101000
Total Liabilities
Total LiabilitiesCr
715226986112151
Current Assets
Current AssetsCr
61420627993108
Non Current Assets
Non Current AssetsCr
222771943
Total Assets
Total AssetsCr
715226986112151

Cash Flow

Consolidated
Standalone
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
473591234
Investing Cash Flow
Investing Cash FlowCr
-3-6-1-7-402-41
Financing Cash Flow
Financing Cash FlowCr
-10132013
Net Cash Flow
Net Cash FlowCr
01330-3116-4
Free Cash Flow
Free Cash FlowCr
372371233
CFO To PAT
CFO To PAT%
148.7127.849.436.651.352.2105.9
CFO To EBITDA
CFO To EBITDA%
123.2115.844.532.349.754.099.2
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
473591234
Investing Cash Flow
Investing Cash FlowCr
-3-6-1-7-402-41
Financing Cash Flow
Financing Cash FlowCr
-10132013
Net Cash Flow
Net Cash FlowCr
01330-3116-4
Free Cash Flow
Free Cash FlowCr
372371233
CFO To PAT
CFO To PAT%
148.7127.849.436.651.352.2105.9
CFO To EBITDA
CFO To EBITDA%
123.2115.844.532.349.754.099.2

Ratios

Consolidated
Standalone
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
195453295340332
Price To Earnings
Price To Earnings
13.926.812.410.710.4
Price To Sales
Price To Sales
3.78.04.43.83.7
Price To Book
Price To Book
3.25.82.92.52.5
EV To EBITDA
EV To EBITDA
10.025.612.09.59.1
Profitability Ratios
Profitability Ratios
GPM
GPM%
100.0100.0100.097.797.397.496.996.9
OPM
OPM%
21.327.323.230.430.934.137.737.7
NPM
NPM%
17.624.720.926.729.935.335.335.3
ROCE
ROCE%
61.463.546.526.926.928.528.928.9
ROE
ROE%
52.854.339.222.721.623.223.523.5
ROA
ROA%
33.836.930.620.219.721.121.221.2
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
195453295340332
Price To Earnings
Price To Earnings
13.926.812.410.710.4
Price To Sales
Price To Sales
3.78.04.43.83.7
Price To Book
Price To Book
3.25.82.92.52.5
EV To EBITDA
EV To EBITDA
10.025.612.09.59.1
Profitability Ratios
Profitability Ratios
GPM
GPM%
100.0100.0100.097.797.397.496.996.9
OPM
OPM%
21.327.323.230.430.934.137.737.7
NPM
NPM%
17.624.720.926.729.935.335.335.3
ROCE
ROCE%
61.463.546.526.926.928.528.928.9
ROE
ROE%
52.854.339.222.721.623.223.523.5
ROA
ROA%
33.836.930.620.219.721.121.221.2
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
- **Systango Technologies** - a digital engineering firm that turns ideas into production-grade software - it builds AI-powered platforms, cloud-native systems, and blockchain applications for startups and enterprises that need to move fast without breaking things. Commencing operations in 2007 and listed on India’s NSE Emerge in 2023, the company grew from a small software boutique in Indore into a global specialist with over 280 people serving clients across more than ten countries. Its recurring approach is to embed cross-functional squads directly into client teams, combining the personalised attention of a boutique with the delivery discipline of a much larger firm - a model it calls “the personalised touch of a boutique firm” at scale. # Business segments A single digital engineering engine, organised into five interconnected practices - AI and machine learning, cloud and platform engineering, data engineering, blockchain and Web3, and app development - all feeding the same client relationships and revenue streams. ## 1. Digital engineering services: the studio that builds, runs and scales software for others **Systango earns by supplying dedicated engineering teams and building custom platforms for clients, then keeps earning through recurring support and licensing - it is paid for the people, the project and the product.** - **Five ways to bill** - the company charges through staff augmentation (dedicated developers embedded in client teams), time-and-materials project work, managed and maintenance contracts that bring recurring fees, licensing of its own software products, and Blockchain-as-a-Service offerings on a pay-as-you-go model. - **A four-step delivery engine** - every engagement follows the same sequence: consult and align on high-impact use cases, assemble a cross-functional AI squad, run agile sprints with KPI tracking, then launch and scale for proven business outcomes. - **Clients are startups and enterprises chasing digital transformation** - the customer base spans FinTech, trading automation, data analytics and learning management across North America, Europe and Asia-Pacific, with long-standing relationships that keep retention high. - **Sales reach is direct and global** - senior sales leaders cover the US, EMEA and APAC from bases in London and elsewhere, while a Strategic Advisory Board of UK-based industry experts guides international expansion and revenue growth. - **Talent is the primary input** - with 276 permanent employees and attrition below 10%, the company invests in cross-training in AI, generative AI and cybersecurity, and expanded its fresher hiring programme to 45-50 graduates a year, mainly for AI and data roles. ## 2. Generative AI and machine learning: the practice that turns models into working products **Systango ships AI solutions on a 12-to-16-week clock using pre-built components, and has the Google credentials to prove it - one of only 20 partners globally with Google GenAI Certification.** - **GenAI Studio is the factory** - launched in 2025, this dedicated unit takes clients from intake and prioritisation through a prototype sprint, security review and production rollout, all within a single quarter. - **Custom agents, not just chatbots** - the company builds AI agents on large language models like GPT, Gemini and Llama that automate industry-specific workflows and integrate with existing systems; one legal client saw 30% efficiency gains and 80% faster document processing. - **Two SaaS products on Google Cloud Marketplace** - Ylabs IDP (intelligent document processing) and Ylabs Generative BI (business intelligence) were launched in 2024, giving clients self-serve analytics and automated extraction from documents using multiple AI models. - **White-label platforms for finance and learning** - the company offers a crypto options trading platform, a wealth management platform called Shootih, and a learning management system called Skill Up, all customisable and ready for client branding. ## 3. Cloud and platform engineering: the infrastructure layer that makes everything else run **Systango holds deep partnerships with AWS, Google Cloud and Adobe - including specialised delivery designations that few firms achieve - and uses them to modernise client infrastructure for cost and reliability.** - **AWS Premium Partner with three specialisations** - the company holds AWS Service Delivery designations for Lambda (serverless applications), API Gateway (secure APIs) and CloudFront (global content delivery), validating proven success in each service. - **Google Cloud credentials are rare and specific** - Systango became the 17th company globally to achieve Google Cloud Specialization in Generative AI Services, and also holds certification in infrastructure services and authorisation to operate in France. - **Alibaba Cloud alliance opens a new front** - through its group company, Systango signed a memorandum of understanding with Alibaba Cloud in early 2026 to combine its conversational AI and predictive analytics with Alibaba’s cloud infrastructure for enterprise migrations and managed AI services. ## 4. Data engineering: the pipes and dashboards that feed decisions **Systango builds the data pipelines, visualisation layers and recommendation engines that turn raw information into action - a capability that shows up in both client projects and its own products.** - **Real-time integration and predictive analytics** - services span data integration, dashboards, visualisation and recommendation engines, deployed in engagements such as a digital transformation project for the UK’s largest oil-and-gas training provider operating across over 60 countries. - **Product expression in Generative BI** - the Ylabs Generative BI platform, which unifies diverse data sources and uncovers hidden patterns using predictive AI, is the packaged version of this practice’s expertise. ## 5. Blockchain and Web3: the decentralised bet with its own revenue stream **Systango builds decentralised finance platforms, tokenised assets and NFT marketplaces, and offers blockchain infrastructure as a service - a practice that generates its own pay-as-you-go revenue.** - **Blockchain-as-a-Service is a standalone revenue line** - clients pay for cloud-based blockchain platforms delivered and maintained by Systango, often on a usage-based model. - **White-label crypto trading platform** - the AI-powered options trading platform combines blockchain security with real-time market data and intelligent algorithms, customisable for FinTech clients and digital exchanges globally. - **Visible in the Web3 ecosystem** - the company sponsored Token2049 in Singapore, co-hosted a Web3 and AI event with Google Cloud at Google’s London headquarters, and partnered with a global Web3 and AI incubator to provide engineering delivery to its portfolio companies. ## 6. App development: the front door for every platform **Systango creates the mobile and web applications that users actually touch - responsive web apps, progressive web apps, and native and hybrid mobile apps - completing the full-stack promise.** - **Web2 is the foundation** - app development sits within the company’s broader software and mobile consultancy capability, covering the entire product lifecycle from discovery and design through engineering and growth. - **Every platform needs an interface** - whether the back-end is AI, blockchain or cloud-native, the app development practice builds the front-end experience that makes it usable, across mobile and web. # Group structure and partners **Systango operates through a holding company in India with wholly owned subsidiaries in the US and UK, and has built a partner ecosystem that includes AWS, Google Cloud, Alibaba Cloud, Adobe and a UK go-to-market agency.** - **Indian parent, global subsidiaries** - Systango Technologies Limited is the listed holding company in Indore; its wholly owned subsidiaries include Systango Inc. in the US (incorporated March 2024) and iSystango Ltd. in the UK, which itself owns Systango Ltd.. - **Promoters hold nearly 72%** - Vinita Rathi (Managing Director and CEO) and Nilesh Rathi (Executive Director and CFO) together held 71.88% of shares as of March 2023, giving them tight control over strategy. - **Chesamel partnership for UK and European reach** - a strategic go-to-market agreement signed in mid-2025 pairs Systango’s AI and engineering delivery with Chesamel’s marketing and brand engagement to pursue digital transformation deals across the UK and other agreed markets. - **Tech Alchemy acquisition in progress** - in mid-2025, the UK subsidiary signed a binding memorandum to acquire assets, contracts and identified employees of Tech Alchemy Limited for £1.5 million in cash, deepening its UK presence. - **Selective investments in client companies** - Systango has made strategic investments in some customer businesses, aligning growth objectives and deepening long-term partnerships.

Documents — Systango Technologies Ltd

  • Q4 FY2026 Quarterly Result (Mar 2026, PDF): https://www.stockscans.in/document/rhtr0a6cr6e1sw2lg4mmbqss.pdf
  • Q2 FY2026 Quarterly Result (Sep 2025, PDF): https://www.stockscans.in/document/541rew4krovlxyht353z54nn.pdf
  • Q4 FY2025 Quarterly Result (Mar 2025, PDF): https://www.stockscans.in/document/s3wkes3wm9za7lcgqnab7muu.pdf
  • Q4 FY2024 Quarterly Result (Mar 2024, PDF): https://www.stockscans.in/document/qkhqtnwaz2p993uns8yh1jgo.pdf
  • Q2 FY2026 Investor Presentation (Sep 2025, PDF): https://www.stockscans.in/document/lbj9xo0yp153m3o6hem5387u.pdf
  • FY2025 Annual Report (PDF): https://www.stockscans.in/document/727hzpiubhgnx7p88vlaeaue.pdf
  • FY2024 Annual Report (PDF): https://www.stockscans.in/document/4k65rndt8xy8ojdhr6tdzjm2.pdf
  • FY2023 Annual Report (PDF): https://www.stockscans.in/document/2fr8dta3oon6q6lddt1lxel8.pdf