DelaplexShare price, financial results, shareholding and management
- Market cap
- ₹118 cr
- Stock P/E
- 9.1peers 21.0
- Book value
- ₹98.8
- Price to book
- 1.31
- EV / operating profit
- 8.6
- Market cap to sales
- 1.71
- ROCE · FY26
- 20.1%
- ROE · FY26
- 15.7%
- ROE, 3-year average
- 18.6%
- Operating margin · FY26
- 18.8%peers 23.4%
- Sales growth, 3 years
- 8.5%
- Profit growth, 3 years
- 16.0%
- Debt to equity
- 0.00peers 0.01
- Borrowings
- ₹0 cr
- Interest cover
- 110.0×
- Cash from business / op. profit
- 107%
- Debtor days
- 120
- Pledged
- 0.00%
- Promoter holding
- 74.25%
- Change in promoter holding
- +0.53 pts
- Shareholders
- 1,459
- 52-week high / low
- ₹180 / ₹80
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Delaplex share price chart
Close on 6 Nov 2026 · +3.24% on the day · Vol 6,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +34.2%
- 3 months
- +45.0%
- 6 months
- -6.6%
- 1 year
- -13.0%
- Since IPO
- -32.8%
- Traded a day, 20 days
- ₹0.67 cr
- Taken for delivery
- 82%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +2% | +5% |
| 3 years, a year | +9% | +16% |
| Latest half, H2 FY26 | +0% | -3% |
About Delaplex: business, products and customers
Delaplex is a software services company from Nagpur whose engineers build and run software for companies, mostly in the United States, and which has started setting up small data centres with BSNL in India. Its shares trade on NSE Emerge.
Delaplex, incorporated in 2004 and based in Nagpur with delivery centres in Bengaluru, Pune and Hyderabad, sells engineering time: supply chain systems such as warehouse, workforce and store software, custom software development, cloud and data work, and testing. It is a partner of Blue Yonder, Microsoft, Oracle, IBM and AWS. In the first half of FY26, supply chain services gave 43% of revenue, software development and cloud 36%, and a new solutioning line 16%.
Most sales go through related companies. Delaplex Inc of the United States, a promoter that owns 34.34% of the company, buys the work from Delaplex on a cost plus basis under transfer pricing rules and serves the end clients; a sister concern, Xperity LLC, also buys services. So Delaplex's revenue and margin follow a pricing formula agreed inside the group rather than the price the end client pays, and billing is mostly in US dollars, hedged with forward contracts.
Read more about the business
The group widened in 2024 with Celestia Crew Consultancy in Bengaluru, a workforce management consulting firm, and Blueberry Systems in the United Kingdom, which brought an AI enabled low code platform and European clients. Interest on surplus cash and on loans to the UK arm is a growing part of income. The documents name no listed competitors; the annual report describes rivals as global technology services firms, specialist consultants and software platforms.
What is new: micro data centres, small boxed data centres set up in BSNL telephone exchanges and on client sites, sold jointly with BSNL under a partnership announced in September 2025. The company had four such centres in November 2025 and says it has contracts with a PSU bank in Mumbai and the Pondicherry government.
From the offer document (red herring prospectus, 2024), the annual reports for 2024-25 and 2025-26, the earnings call transcript of November 2025 and the investor presentation of June 2026.
Read the deeper study ↓In its favour
- It earns a high return on the money it uses: ROCE 20% in FY26.
- It brings in more cash than it shows as profit: ₹13.9 cr against ₹12.8 cr in FY26.
- It has little debt for its size: debt to equity 0.00.
- The promoters own a large part of the company: 74.25%.
To watch
- Revenue from micro data centres and conversion of the paid trials with PSUs and enterprises into deployments (Earnings call, November 2025, p.6; Annual report 2025-26, p.16).
- The share of revenue billed to Delaplex Inc and Xperity LLC as direct sales in India and Europe grow (Annual report 2025-26, p.191).
- The purchase announced on 26 September 2026 by Delaplex Software Limited, the UK subsidiary.
- Use of the ₹20.8 cr of intangibles and goodwill, mainly the UK assets and platforms under development (Annual report 2025-26, p.106).
- Customers take longer to pay than before: 120 days in FY26, against 82 in FY21.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Delaplex revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit grew roughly in step with sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before.
Delaplex half-yearly results
SME companies report every six months · ₹ crore
| H2FY23 | H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 26.21 | 27.86 | 27.49 | 36 | 31.60 | 37.18 | 31.72 |
| Expenses | 22.44 | 21.54 | 22.76 | 29 | 25 | 29.85 | 26.10 |
| Operating profit | 3.77 | 6.32 | 4.73 | 7 | 6.60 | 7.33 | 5.61 |
| OPM | 14.4% | 22.7% | 17.2% | 19.0% | 20.9% | 19.7% | 17.7% |
| Interest | -0.01 | 0 | 0 | 0 | 0.02 | 0.04 | 0.11 |
| Depreciation | 0.25 | 0.14 | 0.20 | 0 | 0.17 | 0.25 | 0.38 |
| Profit before tax | 4.07 | 6.46 | 5.30 | 8 | 7.64 | 8.90 | 7.45 |
| Net profit | 3.05 | 4.91 | 5.17 | 6 | 5.80 | 7.22 | 5.62 |
Delaplex profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 36.22 | 49.74 | 54 | 55.35 | 67.54 | 68.89 |
| Expenses | 30.31 | 41.50 | 43.54 | 44.30 | 54.14 | 55.95 |
| Operating profit | 5.91 | 8.24 | 10.46 | 11.05 | 13.41 | 12.94 |
| OPM | 16.3% | 16.6% | 19.4% | 20.0% | 19.9% | 18.8% |
| Other income | 0.11 | 0.60 | 1.21 | 1.05 | 2.56 | 4.18 |
| Interest | 0.20 | 0.22 | 0.19 | 0.01 | 0.04 | 0.15 |
| Depreciation | 0.67 | 0.61 | 0.48 | 0.35 | 0.36 | 0.63 |
| Profit before tax | 5.15 | 8.01 | 11 | 11.74 | 15.57 | 16.35 |
| Tax rate | 21.6% | 23.6% | 25.2% | 14.1% | 21.6% | 21.5% |
| Net profit | 4.04 | 6.12 | 8.23 | 10.08 | 12.20 | 12.84 |
| EPS ₹ | · | · | · | 11.06 | 13.33 | 14.17 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 24.9% | 0.0% | 0.0% |
Delaplex profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Operating margin | 16.3% | 16.6% | 19.4% | 20.0% | 19.9% | 18.8% |
| Tax rate | 21.6% | 23.6% | 25.2% | 14.1% | 21.6% | 21.5% |
| ROCE | · | 65.7% | 55.3% | 26.2% | 22.5% | 20.1% |
| ROE | · | 48.8% | 40.7% | 22.5% | 17.6% | 15.7% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 24.9% | 0.0% | 0.0% |
Delaplex debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It has almost no borrowings. Last year the business brought in more cash than it showed as profit. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Delaplex balance sheet
At each 31 March · ₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 0.01 | 0.01 | 0.01 | 9.11 | 9.11 | 9.11 |
| Reserves | 9.46 | 15.58 | 24.87 | 55.54 | 64.73 | 80.87 |
| Net worth | 9.47 | 15.59 | 24.88 | 64.65 | 73.84 | 89.98 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 |
| Other liabilities | 1.54 | 2.32 | 0.86 | 1.59 | 4.68 | 2.72 |
| Total liabilities | 11.01 | 17.91 | 25.74 | 66.24 | 78.52 | 92.70 |
| Fixed assets | 0.70 | 0.73 | 0.50 | 0.44 | 0.74 | 1.25 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 1 |
| Investments | 0 | 0 | 0.60 | 28.80 | 27.77 | 0.20 |
| Other assets | 10.31 | 17.18 | 24.64 | 37 | 50.01 | 90.25 |
| Receivables | · | · | · | · | 26.90 | 22.56 |
| Inventory | · | · | · | · | 0 | 0 |
| Cash | · | · | · | · | 4.12 | 6.31 |
| Trade payables | · | · | · | · | 1.94 | 1.69 |
Delaplex cash flow
₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | 1.79 | 2.81 | 0.61 | 5.67 | 8 | 13.89 |
| Cash from investing | -0.80 | -0.61 | 0.33 | -27.97 | -13 | -11.43 |
| Cash from financing | -1.35 | 0 | 0 | 29.48 | -3 | -0.27 |
| Net cash flow | -0.36 | 2.20 | 0.94 | 7.18 | -8 | 2.19 |
| Capital spending | · | · | · | · | · | 8.80 |
Working capital
Days
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 82 | 91 | 133 | 143 | 145 | 120 |
| Cash conversion cycle | 82 | 91 | 133 | 143 | 145 | 120 |
| Working capital days | 80 | 88 | 129 | 152 | 227 | 212 |
Delaplex peers and competitors
Listed SME companies in the same industryBy sales, Delaplex is number 13 of the 33 listed SME companies in it - software.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Capitalnumbers Infotech | 179 | 6.9 | 105 | 26 | 24.0% | 0.00 |
| Fidel Softech | 246 | 17.8 | 102 | 13.8 | 16.7% | 0.77 |
| Trident Techlabs | 182 | 30.0 | 97.2 | 6.1 | 13.3% | 0.36 |
| Systango Technologies | 316 | 9.9 | 90.4 | 31.9 | 37.7% | 0.00 |
| Kody Technolab | 2,192 | 130.8 | 80.3 | 16.8 | 29.7% | 0.04 |
| Delaplex | 118 | 9.1 | 68.9 | 12.8 | 18.8% | 0.00 |
| TAC Infosec | 823 | 36.6 | 57.3 | 22.5 | 53.8% | 0.01 |
| ENS Enterprises | 138 | 16.4 | 51.4 | 8.4 | 22.8% | - |
| Trust Fintech | 62 | 7.8 | 42.8 | 7.9 | 22.8% | 0.00 |
| Kratikal Tech | 173 | 29.1 | 36.7 | 6 | 25.0% | 0.00 |
| Paramatrix Technologies | 63 | 24.1 | 28.9 | 2.6 | 2.6% | 0.21 |
| Median of the 10 others | 181 | 21 | 68.8 | 11.1 | 23.4% | 0.01 |
Delaplex shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little more than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders has come down.
Delaplex shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Feb 24 | Mar 24 | Sep 24 | Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|---|---|
| Promoters | 73.66% | 73.66% | 73.66% | 73.72% | 73.72% | 74.25% |
| Foreign investors (FIIs) | 5.43% | 2.48% | 0.00% | 0.00% | - | - |
| Indian institutions (DIIs) | 4.94% | 2.17% | 0.40% | 0.40% | 0.40% | - |
| HNIs (over ₹2 lakh each) | 0.00% | 1.42% | 3.08% | 2.19% | 1.68% | 5.12% |
| Small holders (up to ₹2 lakh) | 11.03% | 13.61% | 17.99% | 19.01% | 18.72% | 17.31% |
| Companies and others | 4.94% | 6.66% | 4.87% | 4.68% | 5.48% | 3.32% |
| Number of shareholders | 1,846 | 1,291 | 1,684 | 1,619 | 1,577 | 1,459 |
The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.
Delaplex study: the business from its own documents
Read from 12 of the company's own documentsDelaplex so far
From the company's own record
- 2 Feb 2024Listed on NSE Emerge at ₹192
- 31 Aug 2026An order announced
- 31 March 2026Promoters at 74.25%
- 2 Feb 2024Highest close since listing, ₹300.58
Delaplex key facts from the filings
Each figure with the document it comes from
- Revenue growth
- 2.0%
- Consolidated revenue from operations rose to ₹68.9 cr in FY26 from ₹67.5 cr in FY25.Annual report 2025-26, p.103
- Billed to Delaplex Inc
- ₹33.4 cr
- Revenue from the US promoter company in FY26, about 48.5% of consolidated revenue; a further ₹6.7 cr came from sister concern Xperity LLC.Annual report 2025-26, p.191; our arithmetic
- Other income
- ₹4.2 cr
- Mostly interest on surplus funds, up 63.4% in FY26 and about a quarter of the ₹16.3 cr profit before tax.Annual report 2025-26, p.103 and p.105; our arithmetic
- Standalone profit
- −8.6%
- Profit of the Indian company fell to ₹9.4 cr in FY26, while group profit after minority interest rose 5.2% to ₹12.8 cr on the UK and other subsidiaries.Annual report 2025-26, p.103 and p.106
- Domestic share
- 38.7%
- Share of FY26 revenue from India, after domestic sales grew 49.3% in the year.Investor presentation, June 2026, p.8
Show 5 more facts
- Solutioning line
- 16%
- Share of first half FY26 revenue from micro data centres and enterprise solutions, a stream that did not exist a year earlier.Earnings call, November 2025, p.4
- Blueberry Systems
- ₹9.21 cr
- Revenue from the UK subsidiary in the first half of FY26, with ₹2.35 cr of profit after tax.Earnings call, November 2025, p.5
- Employee cost
- ₹40.3 cr
- Consolidated employee costs in FY26, down from ₹41.9 cr, which the company puts down to cross-skilling and better use of staff.Annual report 2025-26, p.104 and p.105
- Intangible assets
- ₹20.8 cr
- Carrying value of intangibles and goodwill at March 2026, up from ₹14.4 cr, from the UK assets and platforms under development.Annual report 2025-26, p.106
- Borrowings
- Nil
- No borrowings at March 2026, with shareholders' funds of ₹90.0 cr.Investor presentation, June 2026, p.10
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company gives no order book and no sales or profit guidance; Managing Director Nitin Sachdeva said on the November 2025 call that it prefers to announce achieved numbers. Its stated priorities for FY27 are wider sales in the United States, Europe, the Middle East and Asia Pacific, more AI platforms, deeper use of Blueberry, scaling the micro data centre business with BSNL and setting up a global capability centre practice. Promises made in November 2025 for the second half of FY26 were not borne out by the reported half.
| What management said | When | What happened |
|---|---|---|
| Second half to bring 55% to 60% of the year's revenue, as usual | Nov 2025 call | Second half total income ₹34.0 cr against ₹39.0 cr in the first half |
| A significant part of the paid micro data centre trials to turn into full deployments in the second half | Nov 2025 call | No deployment value or micro data centre revenue disclosed in the FY26 annual report or June 2026 presentation |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Delaplex earns a steady margin on engineering time, most of it billed to a related US company that holds the client relationships.
Its weak spots are sales that barely grew last year, reliance on that one related buyer, and a new data centre line that has yet to show in the figures.
AverageCan it set its own prices?Much of its pricing is a cost plus formula set inside the group, and the company says clients are pressing for more value for the same spend.
AverageHow strong is it against rivals?It has long experience in supply chain software and partnerships with large software makers, but it is a small player in a crowded services market.
WatchWho are its customers?Close to half of revenue is billed to one related company in the United States, which holds most end client relationships.
StrongDoes it need a lot of money?Services need few assets and the company has no debt; the new data centres need some outlay, which it says it keeps small.
AverageCan it keep finding new work?New lines in India and the UK are adding clients, but the core business did not grow much last year.
AverageDo good and bad years swing a lot?Profit has held steady year to year, but the split between halves has not followed what the company said, and exchange rates move the rupee figures.
Who runs Delaplex?
Promoters, directors and officers; tap a name for the background
NSNitin SachdevaPromoter, Chairman and Managing Director · holds 39.91%
Holds a Bachelor of Commerce from Nagpur University and passed the final examination of the Institute of Chartered Accountants of India; certified fraud examiner and systems auditor. A director since the company began in 2004 and Managing Director since 2017, with over 20 years in the industry; also President of Delaplex Inc. Current term runs to September 2027.
Offer document, p.153 and p.154; Annual report 2025-26, p.21; Investor presentation, June 2026, p.6PNPreeti Nitin SachdevaPromoter and Whole Time Director · holds 0.00%
Completed the higher secondary examination in Madhya Pradesh in 1996; more than ten years with the company, looking after human resources and administration. Whole Time Director from November 2023 to November 2028. The documents state that Preeti Nitin Sachdeva and Nitin Sachdeva are wife and husband.
Offer document, p.153; Annual report 2025-26, p.21 and p.39MIManish Iqbalchand SachdevaPromoter and Non-Executive Director
Holds a Bachelor of Engineering from Nagpur University and a Master of Engineering from BITS; more than 22 years in the industry, with earlier roles at Tata Elxsi, Tektronix and RedPrairie. Chief Executive Officer of Delaplex Inc, the US promoter company. The documents state that Manish Iqbalchand Sachdeva and Nitin Sachdeva are brothers.
Offer document, p.153 and p.154; Investor presentation, June 2026, p.17MTManish Tarachand PandeIndependent Director
A Bachelor of Commerce from Nagpur University and an associate member of the Institute of Company Secretaries of India; more than eight years in secretarial and listing compliance, including as company secretary of Midwest Gold. On the board since October 2023.
Offer document, p.153; Annual report 2025-26, p.22HVHimanshu Vishwambarlal BajajIndependent Director
Holds an MBA from the National Institute of Management (2009) and works as an independent life and general insurance advisor, with more than ten years in insurance. On the board since October 2023.
Offer document, p.153; Annual report 2025-26, p.23DJDeepak JajooChief Financial Officer
A Bachelor of Commerce from Nagpur University and an associate Chartered Accountant, with experience in financial reporting, tax and compliance; earlier an account admin executive at the company. Chief Financial Officer since November 2023.
Offer document, p.162; Annual report 2025-26, p.23Delaplex latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹31.7 cr (+0%), net profit ₹5.6 cr (-3%) on H2 FY25.
- Shareholding, 31 March 2026: promoters 73.72% to 74.25%; Dheeraj Kumar Lohia new at 1.05%.
- 31 Aug 2026: an order announced.
Delaplex announcements
90 on record, latest first; each opens the filing on the exchange
- General Updatesacquisition by Delaplex Software Limited, a wholly owned subsidiary of Delaplex LimitedPDF ↗
- Analysts/Institutional Investor Meet/Con. Call UpdatesSchedule of meetPDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Analysts/Institutional Investor Meet/Con. Call UpdatesPDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 12, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 12, 2026PDF ↗
- Price movementSignificant movement in price has been observed in Delaplex Limited. The Exchange, in order to ensure that investors have latest relevant information about the PDF ↗
- Copy of Newspaper PublicationFor the dispatch of AGM Notice for the FY ended 2026PDF ↗
- Record Datethat Record date for the purpose of Annual General Meeting is 05-Sep-2026PDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 12, 2026PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018For the quarter ended 30th June 2026PDF ↗
- Quarterly Compliance Report on Corporate governance - within 21 days from the enDelaplex Limited has informed regarding non-applicability of the compliance on Corporate Governance as required under Regulation 27(2)(a) of Securities and ExchPDF ↗
Delaplex annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 Nov 2025 ↗read
- 30 June 2025 ↗read
Delaplex share split, bonus and dividends
From the corporate actions the company announces on the exchange
- DividendDIVIDEND - RS 2.75 PER SHAREex-date 2 Sept 2024
Checks we ran on Delaplex's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (91,10,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY21 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Delaplex
What does Delaplex do?
Delaplex is a software services company from Nagpur whose engineers build and run software for companies, mostly in the United States, and which has started setting up small data centres with BSNL in India. Its shares trade on NSE Emerge.
What is the share price of Delaplex?
₹129 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Delaplex?
₹118 cr at the close on 6 Nov 2026, on 91,10,000 shares.
What is the P/E of Delaplex?
9.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Delaplex's revenue and profit?
Revenue ₹69 cr and profit after tax ₹13 cr in FY26.
Who are the promoters of Delaplex?
Nitin Sachdeva, Preeti Nitin Sachdeva, Manish Iqbalchand Sachdeva; promoters held 74.25% at 31 March 2026.
What was the IPO price of Delaplex?
₹192 a share; it listed on 2 Feb 2024.
What is Delaplex's website?
www.delaplex.in
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Built from 3 investor presentations, 3 press releases, 2 earnings call transcripts, 2 annual reports, 1 offer document, 1 result filing, 90 exchange announcements, 6 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.