Esconet TechnologiesShare price, financial results, shareholding and management

NSE Emerge · ESCONETIT infrastructure integrationListed 23 Feb 2024IPO ₹84
esc.co.in ↗Live price on NSE ↗ISIN INE0RQZ01017 · Lot 400 shares · ₹1.44 lakh
₹359.50
-5.00% on the day
Close · 6 Nov 2026
Valuation
Market cap
₹474 cr
Stock P/E
77.1peers 16.6
Book value
₹59.4
Price to book
6.05
EV / operating profit
52.2
Market cap to sales
1.34
Returns and growth
ROCE · FY26
12.2%
ROE · FY26
8.4%
ROE, 3-year average
15.7%
Operating margin · FY26
2.5%peers 7.8%
Sales growth, 3 years
55.1%
Profit growth, 3 years
27.0%
Safety
Debt to equity
0.17peers 0.22
Borrowings
₹13.2 cr
Interest cover
8.3×
Cash from business / op. profit
-100%
Debtor days
20
Pledged
0.00%
Ownership and share
Promoter holding
60.19%
Change in promoter holding
0.00 pts
Shareholders
2,863
52-week high / low
₹407 / ₹91
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.

Esconet Technologies share price chart

₹359.50+74.60% 1 year

Close on 6 Nov 2026 · -4.97% on the day · Vol 38,400

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
+47.1%
3 months
+160.9%
6 months
+142.0%
1 year
+74.6%
Since IPO
+328.0%
Traded a day, 20 days
₹1.95 cr
Taken for delivery
96%

Business growth

Sales and net profit, from the reported results

SalesProfit
FY26 on FY25+54%-23%
3 years, a year+55%+27%
Latest half, H2 FY26+69%-9%

About Esconet Technologies: business, products and customers

Esconet Technologies puts together computer systems for companies and government offices: servers, storage, networks and cloud services, including servers it makes under its own HexaData name. Its shares trade on NSE Emerge.

Esconet Technologies designs, supplies, installs and supports computer infrastructure for enterprises, government departments and public sector units, from servers and storage to networks and data centre equipment. Much of this is hardware from global brands that it integrates for the customer; the rest is its own HexaData servers, AI and GPU machines and workstations, which it is registered to supply to government on the Government e-Marketplace under Make in India. Around it sit ZeaCloud, a wholly owned cloud services company, Fluidech, a 70% owned cybersecurity firm, and Esconet Singapore, which bills customers who need goods delivered outside India.

Because most revenue is the full price of hardware passed on to the customer, reported sales are large and margins are thin: the Managing Director has put gross margin on legacy integration at about 7% to 8% and on HexaData at about 10% to 15%. A single big, low-margin deal from a large account can lift sales sharply while pulling the margin down, and money gets tied up in stock bought ahead of orders. Orders are usually filled within 60 to 90 days of a bid, so the company does not run on a long order book.

Read more about the business

The Managing Director says Esconet partners with and competes against foreign vendors such as Cisco, HP, Lenovo and Dell, deal by deal. On the exchange's industry list it sits beside other listed IT hardware companies such as Slone Infosystems and Richa Info Systems.

What is new: from FY27 the company reports every quarter, though NSE SME rules ask only for half-yearly results. It became an NVIDIA Elite Partner, ZeaCloud is working towards government (MeitY) empanelment so it can host government data, and the first version of the HexaData HPC platform is ready to ship.

From the 2024-25 annual report, the June 2025 and August 2026 earnings calls, and the September 2025 and June 2026 investor presentations.

Read the deeper study ↓

In its favour

  • Sales have grown very fast: 55% a year over three years.
  • It has little debt for its size: debt to equity 0.17.
  • The promoters own a large part of the company: 60.19%.

To watch

  • MeitY empanelment for ZeaCloud, which the Managing Director expects within FY27 (Earnings call, August 2026, p.14).
  • Whether margins hold through FY27 as the company puts profit ahead of sales (Earnings call, August 2026, p.10 and p.16).
  • Fluidech's move towards breakeven after a planned loss in FY26 (Investor presentation, June 2026, p.13).
  • The first commercial orders for the HexaData HPC platform, whose first version is ready to ship (Earnings call, August 2026, p.17).
  • Its borrowings rose a lot last year: ₹13.2 cr, from ₹0.5 cr.

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.

Esconet Technologies revenue and profit growth

Half-yearly results · Profit and loss

Sales have grown very fast. Last year profit fell even as sales rose, so the company kept less from each rupee of sales.

Sales and net profit, every year, ₹ crore
SalesNet profit
-1000100200300400Sales, FY21: 44 ₹ cr44Net profit, FY21: -1 ₹ cr-1FY21Sales, FY22: 69 ₹ cr69Net profit, FY22: 1 ₹ cr1FY22Sales, FY23: 95 ₹ cr95Net profit, FY23: 3 ₹ cr3FY23Sales, FY24: 141 ₹ cr141Net profit, FY24: 5 ₹ cr5FY24Sales, FY25: 230 ₹ cr230Net profit, FY25: 8 ₹ cr8FY25Sales, FY26: 354 ₹ cr354Net profit, FY26: 6.2 ₹ cr6.2FY26
The latest halves, ₹ crore
SalesNet profit
0100200300Sales, H2FY25: 123 ₹ cr123Net profit, H2FY25: 5.3 ₹ cr5.3H2FY25Sales, H1FY26: 145 ₹ cr145Net profit, H1FY26: 1.3 ₹ cr1.3H1FY26Sales, H2FY26: 209 ₹ cr209Net profit, H2FY26: 4.8 ₹ cr4.8H2FY26

SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.

Esconet Technologies half-yearly results

SME companies report every six months · ₹ crore

₹ crore · growth on the same half a year before
H2FY25H1FY26H2FY26
Sales123.38145.33209.07
Expenses117.69143.10202.48
Operating profit5.682.236.59
OPM4.6%1.5%3.1%
Interest0.380.350.83
Depreciation0.951.161.29
Profit before tax7.121.686.93
Net profit5.311.334.82

Esconet Technologies profit and loss

Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported

₹ crore
FY21FY22FY23FY24FY25FY26
Sales446995141230.30354.40
Expenses446789131220.20345.59
Operating profit0261010.108.82
OPM0.3%3.0%6.0%7.0%4.4%2.5%
Other income00002.953.44
Interest11120.821.18
Depreciation01111.612.45
Exceptional and other items·1····
Profit before tax-114710.628.62
Tax rate-4.0%0.0%25.0%28.6%24.7%28.7%
Net profit-113586.15
EPS ₹-13.049.3939.504.396.114.66
Dividend payout0.0%0.0%0.0%0.0%0.0%0.0%

The years to FY24 come rounded to the nearest crore in the source.

Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.

A tax rate above 60% or below zero (FY21) comes from tax charged on a small or negative profit, as reported.

Earnings per share before FY24 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.

Esconet Technologies profitability

Margins and returns on capital

Last year the company kept about as much from each rupee of sales as the year before. It earns a moderate return on the money it uses.

Operating margin, every year

Per cent of sales kept before interest, depreciation and tax

0%2%4%6%8%FY21: 0.3%0.3%FY21FY22: 3.0%3.0%FY22FY23: 6.0%6.0%FY23FY24: 7.0%7.0%FY24FY25: 4.4%4.4%FY25FY26: 2.5%2.5%FY26
Per cent
FY21FY22FY23FY24FY25FY26
Operating margin0.3%3.0%6.0%7.0%4.4%2.5%
Tax rate-4.0%0.0%25.0%28.6%24.7%28.7%
ROCE·21.6%36.3%30.6%20.7%12.2%
ROE·44.1%70.3%23.4%15.2%8.4%
Dividend payout0.0%0.0%0.0%0.0%0.0%0.0%

Esconet Technologies debt and cash flow

Balance sheet · Cash flow · Working capital

The company's own money, its net worth, has grown. It borrowed much more last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers pay faster than they did in FY24, which frees up the company's money.

Its own money and its borrowings, ₹ crore
Net worthBorrowings
020406080Net worth, FY21: 1.8 ₹ cr1.8Borrowings, FY21: 6 ₹ cr6FY21Net worth, FY22: 2.8 ₹ cr2.8Borrowings, FY22: 8 ₹ cr8FY22Net worth, FY23: 5.8 ₹ cr5.8Borrowings, FY23: 11 ₹ cr11FY23Net worth, FY24: 37 ₹ cr37Borrowings, FY24: 5 ₹ cr5FY24Net worth, FY25: 68.3 ₹ cr68.3Borrowings, FY25: 0.5 ₹ cr0.5FY25Net worth, FY26: 78.4 ₹ cr78.4Borrowings, FY26: 13.2 ₹ cr13.2FY26
Cash from the business against net profit, ₹ crore
Cash from the businessNet profit
-10-50510Cash from the business, FY21: 0 ₹ cr0Net profit, FY21: -1 ₹ cr-1FY21Cash from the business, FY22: 1 ₹ cr1Net profit, FY22: 1 ₹ cr1FY22Cash from the business, FY23: -2 ₹ cr-2Net profit, FY23: 3 ₹ cr3FY23Cash from the business, FY24: -1 ₹ cr-1Net profit, FY24: 5 ₹ cr5FY24Cash from the business, FY25: 1.9 ₹ cr1.9Net profit, FY25: 8 ₹ cr8FY25Cash from the business, FY26: -8.8 ₹ cr-8.8Net profit, FY26: 6.2 ₹ cr6.2FY26

Bars below the line are cash going out.

Esconet Technologies balance sheet

At each 31 March · ₹ crore

₹ crore
FY21FY22FY23FY24FY25FY26
Equity capital0.770.770.771213.0913.20
Reserves1252555.1665.15
Net worth1.772.775.773768.2578.35
Borrowings681150.5313.24
Other liabilities9.2315.2312.233348.0939.43
Total liabilities17262975116.87131.02
Fixed assets12234.7518.40
Capital work in progress000000
Investments000000.70
Other assets16242772112.12111.92
Receivables····52.5519.64
Inventory····18.9451.50
Cash····35.8927.38
Trade payables····41.3430.04

Esconet Technologies cash flow

₹ crore

₹ crore
FY21FY22FY23FY24FY25FY26
Cash from operations01-2-11.86-8.82
Cash from investing-1-10-1-2.40-15.68
Cash from financing-2121819.7016
Net cash flow-3101619.16-8.50
Capital spending····3.667.97

Working capital

Days

Days
FY21FY22FY23FY24FY25FY26
Debtor days728249978320
Inventory days583843463561
Days payable879450957765
Cash conversion cycle432641494142
Working capital days302325524836

Esconet Technologies peers and competitors

Listed SME companies in the same industry

By sales, Esconet Technologies is number 1 of the 8 listed SME companies in it - hardware.

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.

CompanyMarket cap ₹ crP/ESales ₹ crProfit ₹ crOp. marginDebt/equity
Esconet Technologies47477.13546.22.5%0.17
Slone Infosystems667.424196.9%0.24
Richa Info Systems13618.21437.57.8%0.11
Marushika Technology9410.5116913.7%0.15
EPW India26425.610710.315.1%0.24
Aztec Fluids & Machinery13818.796.57.413.7%0.29
Newjaisa Technologies57-40.5-17.4-41.0%0.22
Brisk Technovision1515.130.115.7%0.11
Median of the 7 others9416.71077.57.8%0.22

Esconet Technologies shareholding pattern

Promoters, FIIs, DIIs, HNIs and small holders

The promoters own more than half the company, a little less than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders is about the same.

Promoters
60.19%
-1.11 pts since Oct 24
Foreign investors (FIIs)
0.12%
+0.07 pts since Oct 24
Indian institutions (DIIs)
0.41%
at Dec 25; not in the latest pattern
HNIs (over ₹2 lakh each)
9.15%
-2.68 pts since Oct 24
Small holders (up to ₹2 lakh)
24.24%
+3.31 pts since Oct 24
Companies and others
6.30%
+0.48 pts since Oct 24
Number of shareholders
2,863
1,997 in Oct 24

Esconet Technologies 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.

Oct 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Promoters61.30%61.30%61.30%60.82%60.09%60.09%60.19%60.19%
Foreign investors (FIIs)0.05%0.04%0.04%0.15%0.12%0.12%0.12%0.12%
Indian institutions (DIIs)0.07%0.07%0.00%0.44%0.41%0.41%--
HNIs (over ₹2 lakh each)11.83%12.42%12.95%12.34%11.21%10.24%8.78%9.15%
Small holders (up to ₹2 lakh)20.93%20.15%19.73%20.39%21.52%23.08%25.08%24.24%
Companies and others5.82%6.02%5.98%5.86%6.65%6.06%5.83%6.30%
Number of shareholders1,9972,2152,3122,4602,6972,8722,9632,863

The named holders are at 30 June 2026, beside 31 March 2026, each under the group the pattern files them in.

Esconet Technologies study: the business from its own documents

Read from 14 of the company's own documents

Esconet Technologies so far

From the company's own record

  1. 23 Feb 2024Listed on NSE Emerge at ₹84
  2. 30 June 2026Promoters at 60.19%
  3. 7 Nov 2024Highest close since listing, ₹406.96

Esconet Technologies key facts from the filings

Each figure with the document it comes from

FY26 total income
₹357.8 cr
Consolidated, up 53.4% on FY25; the standalone company crossed ₹300 cr.Investor presentation, June 2026, p.6
FY26 profit
₹6.2 cr
Consolidated profit after tax, down from ₹8.0 cr in FY25; most of it came in the second half.Investor presentation, June 2026, p.6 and p.7; Annual report 2024-25, p.5
Gross margin
About 15.2% to 13.2%
Fell in FY26 as component prices rose; the company puts the hit at about ₹7 cr of gross profit.Investor presentation, June 2026, p.8
April to June 2026
₹116.3 cr
Consolidated revenue in the first quarter it reported, with profit before tax of ₹9.0 cr and an EBITDA margin of 8.55%.Earnings call, August 2026, p.7
HexaData share
About one third
Share of FY25 revenue from its own HexaData hardware; the rest came from integrating other brands' products.Earnings call, June 2025, p.9
Show 5 more facts
Government business
40% to 45%
Share of revenue from government and public sector units last year, as the Managing Director put it; lower so far in FY27.Earnings call, August 2026, p.17
Order book
About ₹20 to 25 cr
Managing Director's rough figure at 30 June 2026; bid to delivery usually takes 60 to 90 days, so the book stays small.Earnings call, August 2026, p.15
Clients
500
Clients served in FY25, up from 384 in FY23.Investor presentation, September 2025, p.18
ZeaCloud revenue
₹5 to 5.5 cr
Cloud revenue in FY26, about flat, and the Managing Director expects a similar figure in FY27.Earnings call, August 2026, p.18
Short-term loan
₹11.9 cr repaid
A working capital loan taken to cover a delayed customer payment was cleared in April 2026.Investor presentation, June 2026, p.8 and p.9

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 says it is not committing growth numbers for FY27 and will put profit ahead of sales: on the August 2026 call the Managing Director said revenue growth is not expected to be much bigger than last year, that the second quarter looked similar to the first, and that there are no plans to raise money this year. The company also says it aims to get ZeaCloud empanelled by MeitY within FY27, to turn the cybersecurity business towards breakeven, and to keep reporting every quarter.

None givenGrowth numbers for FY27June 2026 presentation
Within FY27MeitY empanelment aim for ZeaCloudAugust 2026 call
None plannedFund raising this yearAugust 2026 call
What management saidWhenWhat happened
Gross margin in FY26 much better than FY25's 15%June 2025 callAbout 13.2%
ZeaCloud revenue of about ₹8 to 8.5 cr in FY26June 2025 callAbout ₹5 to 5.5 cr

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.

Esconet Technologies earns a thin slice on the hardware it supplies and installs, a wider slice on its own HexaData machines, and small but higher-margin income from cloud and security services.

Its weak spots are thin margins in a crowded market, rising component prices it could not fully pass on, and cash tied up in stock.

WatchCan it set its own prices?Competition keeps prices tight, and when component costs jumped the company absorbed much of the rise.
The evidence. Crisil cites intense competition and severe pricing pressure. The company says component inflation took gross margin from about 15.2% to about 13.2% in FY26.Credit rating note, Crisil, July 2025, p.1; Investor presentation, June 2026, p.8
AverageHow strong is it against rivals?It competes with large foreign vendors whose products it also supplies, but has its own server brand, a government marketplace listing and partner credentials that plain resellers lack.
The evidence. The Managing Director names Cisco, HP, Lenovo and Dell as both partners and rivals. HexaData is a registered OEM on GeM, the company is an NVIDIA Elite Partner, and Fluidech holds NCIIPC accreditation.Earnings call, August 2026, p.17; Investor presentation, June 2026, p.5 and p.11; Investor presentation, September 2025, p.13
AverageWho are its customers?It has hundreds of enterprise and public sector clients, but government is a large part of sales and single big deals from strategic accounts can swing the year.
The evidence. About 500 clients in FY25; government and public sector units were about 40% to 45% of revenue; the Managing Director described large, very low-margin deals from strategic accounts that are hard to refuse.Investor presentation, September 2025, p.18; Earnings call, August 2026, p.17; Earnings call, June 2025, p.7
WatchDoes it need a lot of money?Little money goes into plant, but a lot goes into stock and money owed by customers, and it needed a short-term loan when one large payment was late.
The evidence. The Managing Director said operating cash is being put back into inventory, which keeps rising. A ₹11.87 cr working capital loan was taken for a delayed enterprise payment and repaid in April 2026.Earnings call, August 2026, p.12; Investor presentation, June 2026, p.8 and p.9
StrongCan it keep finding new work?It has added clients every year and keeps adding lines that open new doors, such as AI servers, cybersecurity and a government-focused cloud.
The evidence. Clients rose from 384 in FY23 to 500 in FY25, with 12 large new clients added; the company launched AI supercomputers on new NVIDIA GPUs.Investor presentation, September 2025, p.13, p.15 and p.18
WatchDo good and bad years swing a lot?Profit swings with component prices, government buying cycles and the timing of big deals, as there is almost no order book to smooth it.
The evidence. First-half FY26 profit fell about half on the year while the second half came back; the Managing Director said election-year delays held back government deals in FY25 and that orders are filled within 60 to 90 days.Investor presentation, June 2026, p.7; Earnings call, June 2025, p.3; Earnings call, August 2026, p.15

Who runs Esconet Technologies?

Promoters, directors and officers; tap a name for the background

SKSantosh Kumar AgrawalPromoter, Chairman and Managing Director · holds 32.35%

Began an IT career in 1997 with Electro Sales Corporation, a hardware and software trading business, and turned it into Esconet Technologies in 2012. Described as a certified cloud architect and IT infrastructure architect.

Annual report 2024-25, p.29 and p.91; Investor presentation, September 2025, p.6
SKSunil Kumar AgrawalPromoter and Whole-Time Director · holds 23.68%

Began an IT career in 1998 with Electro Sales Corporation; has a background in commerce and law, and designed custom servers and workstations for AI and machine learning uses.

Annual report 2024-25, p.29 and p.91
VAVineet AgrawalPromoter and Whole-Time Director · holds 0.68%

Works in sales and marketing; described in the annual report as a third-generation entrepreneur.

Annual report 2024-25, p.29 and p.91
MCManoj ChughIndependent Director

Joined the board in January 2025; an information and communications technology industry veteran of more than four decades with Indian and global companies.

Annual report 2024-25, p.30
MCMukesh Chand JainIndependent Director

Over three decades in corporate finance and law, retiring in June 2019 as Executive Director (Finance and Accounts) and Company Secretary of Steel Authority of India; a Company Secretary and Cost Accountant with commerce and law degrees from Delhi University.

Annual report 2024-25, p.30

Esconet Technologies latest news and announcements

Announcements · Documents · Corporate actions

What changed recently

Each half-year is set against the same half a year earlier

  • H2 FY26: sales ₹209 cr (+69%), net profit ₹4.8 cr (-9%) on H2 FY25.
  • Shareholding, 30 June 2026: promoters unchanged at 60.19%.

Esconet Technologies announcements

28 on record, latest first; each opens the filing on the exchange

Esconet Technologies annual reports, earnings calls and documents

Every document links to its source; “read” marks those this page is built from

Esconet Technologies share split, bonus and dividends

From the corporate actions the company announces on the exchange

No share split, bonus issue or dividend is on record since listing.

Checks we ran on Esconet Technologies' 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 (1,31,96,238 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 changes basis between FY23 (₹39.50) and FY24 (₹4.39) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
  • ✓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 Esconet Technologies

What does Esconet Technologies do?

Esconet Technologies puts together computer systems for companies and government offices: servers, storage, networks and cloud services, including servers it makes under its own HexaData name. Its shares trade on NSE Emerge.

What is the share price of Esconet Technologies?

₹360 at the close on 6 Nov 2026, from the exchange's daily figures.

What is the market cap of Esconet Technologies?

₹474 cr at the close on 6 Nov 2026, on 1,31,96,238 shares.

What is the P/E of Esconet Technologies?

77.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).

What are Esconet Technologies' revenue and profit?

Revenue ₹354 cr and profit after tax ₹6 cr in FY26.

Who are the promoters of Esconet Technologies?

Santosh Kumar Agrawal, Sunil Kumar Agrawal, Vineet Agrawal; promoters held 60.19% at 30 June 2026.

What was the IPO price of Esconet Technologies?

₹84 a share; it listed on 23 Feb 2024.

What is Esconet Technologies' website?

www.esc.co.in

More SME companies like Esconet Technologies

Other listed SME companies in it - hardware, the closest in size first, each read from its own documents.

Every listed SME company in IT - Hardware → · SME companies listed in 2024 →

Built from 6 investor presentations, 3 annual reports, 3 credit rating notes, 2 earnings call transcripts, 28 exchange announcements, 8 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.