Exato TechnologiesShare price, financial results, shareholding and management
- Market cap
- ₹586 cr
- Stock P/E
- 36.4peers 12.5
- Book value
- ₹87.4
- Price to book
- 6.67
- EV / operating profit
- -
- Market cap to sales
- 3.49
- ROCE · FY26
- 27.0%
- ROE · FY26
- 24.8%
- ROE, 3-year average
- 24.7%
- Operating margin · FY26
- 15.0%peers 12.5%
- Sales growth, 3 years
- 32.0%
- Profit growth, 3 years
- 47.6%
- Debt to equity
- 0.24peers 0.10
- Borrowings
- ₹21 cr
- Interest cover
- 12.4×
- Cash from business / op. profit
- 8%
- Debtor days
- 93
- Pledged
- 0.00%
- Promoter holding
- 54.73%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 469
- 52-week high / low
- ₹786 / ₹266
- 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.
Exato Technologies share price chart
Close on 6 Nov 2026 · -4.02% on the day · Vol 16,000
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
- -18.0%
- 3 months
- -6.9%
- 6 months
- +42.6%
- Traded a day, 20 days
- ₹0.84 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +35% | +61% |
| 3 years, a year | +32% | +48% |
About Exato Technologies: business, products and customers
Exato Technologies sets up and runs the software that large call centres and customer service teams use, such as call recording, staff scheduling, analytics and chat and voice bots, mostly for outsourcing firms and banks. Its shares trade on BSE SME.
Most of what Exato sells is other companies' software and hardware, chiefly NiCE, along with Mitel and now HPE, which it licenses to customers and then installs, connects to their other systems, maintains and in many cases runs as a managed service. Its own products, sold under the ExatoIQ name and including CompliCall and a dialer, are a small part of sales so far. The company says it has more than 150 clients, including nine of India's ten leading banks, and that outsourcing and IT services firms give more than 70% of revenue.
Because bought in licences and hardware are passed through to customers, purchases took about 68.5% of revenue in the half year to September 2025 and ten vendors supplied almost all of them. So revenue looks large next to the company's own work, gross margin is set by the spread on resale plus the services attached, and margins swing with the mix: the company says its new AI infrastructure line starts at about 10% to 12% while its own software aims for 40% to 50%. Orders are booked as multi year contracts; the company reports a cumulative order book of ₹660 cr, of which about ₹410 cr was still to be executed in August 2026.
Read more about the business
About a quarter of FY26 revenue came from abroad, mainly the United Kingdom through Diligenta, and the company has opened subsidiaries in the US, Singapore and Australia to win business there and deliver from India. The offer document named Black Box Limited as its only listed peer; on the August 2026 call the company also mentioned TTEC Digital in the US, and said customers otherwise get technology from the makers and consulting from the large audit firms separately.
From the offer document (red herring prospectus, 2025), the Annual Report 2025-26, the September 2026 investor presentation and the Q1 FY27 earnings call of 19 August 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 32% a year over three years.
- It earns a high return on the money it uses: ROCE 27% in FY26.
- It has little debt for its size: debt to equity 0.24.
To watch
- First revenue from the company's own software platform, which it said would start sooner than the December 2026 quarter (Earnings call, 19 August 2026, p.11).
- Execution of the roughly ₹410 cr of orders still in hand (Earnings call, 19 August 2026, p.18).
- Whether FY27 revenue grows the 60% to 70% the company expects, and how the lower margin AI infrastructure line affects margins (Earnings call, 19 August 2026, p.10 and p.22).
- Any acquisition, which the company says it is looking at (Earnings call, 19 August 2026, p.11 and p.22).
- It paid no dividend in the past year.
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.
Exato Technologies revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months.
Exato Technologies half-yearly results
SME companies report every six months · ₹ crore
| H2FY26 | |
|---|---|
| Sales | 96.93 |
| Profit before tax | 12.62 |
| Net profit | 8.84 |
Exato Technologies profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 35 | 42 | 73 | 114 | 124 | 168 |
| Expenses | 33 | 40 | 67 | 106 | 110 | 144 |
| Operating profit | 2 | 2 | 6 | 8 | 14 | 24 |
| OPM | 6.0% | 4.3% | 8.0% | 7.0% | 11.0% | 15.0% |
| Other income | 1 | 2 | 0 | 1 | 2 | 1.03 |
| Interest | 1 | 1 | 1 | 1 | 2 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 |
| Exceptional and other items | · | · | · | · | 1 | 0.69 |
| Profit before tax | 2 | 3 | 5 | 8 | 14 | 22.72 |
| Tax rate | 50.0% | 33.3% | 0.0% | 37.5% | 28.6% | 29.2% |
| Net profit | 1 | 2 | 5 | 5 | 10 | 16.09 |
| EPS ₹ | 1,360 | 1,946 | 4,016 | 4,148 | 6,993 | 15.99 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 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.
Earnings per share before FY26 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Exato Technologies profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than 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 | 6.0% | 4.3% | 8.0% | 7.0% | 11.0% | 15.0% |
| Tax rate | 50.0% | 33.3% | 0.0% | 37.5% | 28.6% | 29.2% |
| ROCE | · | 26.6% | 26.7% | 25.0% | 27.1% | 27.0% |
| ROE | · | 23.5% | 31.2% | 20.4% | 29.0% | 24.8% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Exato Technologies debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It cut its borrowings last year. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Exato Technologies balance sheet
At each 31 March · ₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 10 |
| Reserves | 7 | 10 | 22 | 27 | 42 | 78 |
| Net worth | 7.01 | 10.01 | 22.01 | 27.01 | 42.01 | 88 |
| Borrowings | 6 | 7 | 6 | 17 | 32 | 21 |
| Other liabilities | 7.99 | 4.99 | 6.99 | 9.99 | 20.99 | 14 |
| Total liabilities | 21 | 22 | 35 | 54 | 95 | 123 |
| Fixed assets | 0 | 0 | 0 | 0 | 2 | 2 |
| Capital work in progress | 0 | 0 | 0 | 5 | 16 | 28 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 21 | 22 | 35 | 49 | 77 | 93 |
Exato Technologies cash flow
₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | -4 | -1 | 10 | -14 | 15 | 2 |
| Cash from investing | 0 | 0 | 0 | -5 | -14 | -25 |
| Cash from financing | 4 | 2 | 5 | 9 | 19 | 17 |
| Net cash flow | 0 | 1 | 15 | -10 | 20 | -6 |
Working capital
Days
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 156 | 111 | 40 | 82 | 99 | 93 |
| Inventory days | 1 | 4 | 9 | 21 | 15 | 11 |
| Days payable | 517 | 98 | 34 | 28 | 54 | 24 |
| Cash conversion cycle | -360 | 17 | 15 | 74 | 60 | 80 |
| Working capital days | 71 | 86 | 19 | 31 | -5 | 34 |
Exato Technologies peers and competitors
Listed SME companies in the same industryBy sales, Exato Technologies is number 7 of the 33 listed SME companies in it - services.
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 |
|---|---|---|---|---|---|---|
| Dove Soft | - | - | 274 | 23 | 12.0% | 0.10 |
| Meta Infotech | 138 | 12.5 | 270 | 11 | 7.0% | 0.11 |
| Rox Hi Tech | 175 | 10.3 | 203 | 16.9 | 13.0% | 0.53 |
| Exato Technologies | 586 | 36.4 | 168 | 16.1 | 15.0% | 0.24 |
| Enser Communications | 122 | 12.2 | 101 | 10 | 18.8% | 0.94 |
| Praruh Technologies | 212 | 23.6 | 101 | 9 | 14.0% | 0.00 |
| Optivalue Tek Consulting | 541 | 39.3 | 90.7 | 13.8 | 19.7% | 0.09 |
| Globtier Infotech | 26 | 28.2 | 75.4 | 0.9 | 9.2% | 0.03 |
| Takyon Networks | 24 | 6.6 | 71.1 | 3.7 | 7.5% | 0.12 |
| Benchmark Computer Solutions | 32 | 9.5 | 66 | 3.4 | 8.2% | 0.10 |
| Everestims Technologies | 228 | 17.6 | 65 | 13 | 35.0% | 0.00 |
| Median of the 10 others | 138 | 12.5 | 95.9 | 10.5 | 12.5% | 0.10 |
Exato Technologies shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
Exato 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.
| Dec 25 | Mar 26 | |
|---|---|---|
| Promoters | 54.73% | 54.73% |
| Foreign investors (FIIs) | 2.20% | - |
| Indian institutions (DIIs) | 10.49% | - |
| Number of shareholders | 736 | 469 |
Exato Technologies study: the business from its own documents
Read from 9 of the company's own documentsExato Technologies key facts from the filings
Each figure with the document it comes from
- Order book
- ₹660 cr
- Orders booked to date, with about ₹410 cr still to be executed after ₹251 cr was delivered.Earnings call, 19 August 2026, p.7 and p.18
- Bought in content
- 68.5% of revenue
- Software and hardware purchases in the half year to September 2025; the rest covers services and margin.Offer document, p.280; our arithmetic
- Supplier reliance
- 97.65%
- Share of purchases from the top ten vendors in the half year to September 2025; NiCE is the largest partner.Offer document, p.37; Earnings call, 19 August 2026, p.5
- Customer concentration
- About 60%
- Revenue from the top five clients, as stated on the August 2026 call; 66.47% in the offer document's last period.Earnings call, 19 August 2026, p.19; Offer document, p.37
- Exports
- 23.5%
- Share of FY26 revenue from abroad, with the UK at 17.8% and the US at 4.07%; 27.2% in the June 2026 quarter.Investor presentation, September 2026, p.20; Earnings call, 19 August 2026, p.7
Show 5 more facts
- Long contracts
- 20+ clients
- Large customers on three to five year contracts; the company puts retention at 97% to 98%.Earnings call, 19 August 2026, p.9 and p.19
- Revenue mix
- 76% licences
- Software licences' share of FY26 revenue, with implementation, maintenance and managed services attached.Investor presentation, September 2026, p.20
- Own software
- 3% to 4% of revenue
- Current share of the company's own products, which it aims to raise to 25% to 30%.Investor presentation, September 2026, p.11
- Partner status
- NiCE Platinum
- Held five years in a row, with Mitel Platinum added in the June 2026 quarter and a new HPE alliance.Investor presentation, September 2026, p.12; Earnings call, 19 August 2026, p.5
- Long term debt
- ₹0.66 cr
- Long term borrowings at March 2026, down from ₹8.1 cr a year earlier after the listing.Investor presentation, September 2026, p.18
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
On the August 2026 call the company said it expects FY27 revenue to grow at least 60% to 70% and profit by more than 70% to 80%, before any acquisition, and expects recurring revenue of ₹180 cr to ₹200 cr by the end of FY27. It said revenue from its own software platform should begin earlier than the December 2026 quarter it had indicated, and that the new AI infrastructure line could give 25% to 30% of FY27 revenue at lower margins at first. It also said it is looking at acquisitions and aims to raise exports to 60% of revenue in two to three years.
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.
Exato earns a margin on reselling customer service software, mostly from one maker, and on the setup and running services it attaches, inside clients that rarely leave.
Its weak spots are a few large clients, heavy reliance on one software partner, and a growing share of lower margin hardware work.
AverageCan it set its own prices?The maker's price list sets most of what it sells, but services and its own software leave room for a better margin.
AverageHow strong is it against rivals?It holds top partner status with its main software maker and deep ties inside clients, but it is small and depends on that maker.
WatchWho are its customers?Large outsourcing firms and banks that stay for years, but five of them give most of the revenue.
AverageDoes it need a lot of money?It needs little plant, but buying licences and hardware ahead of billing ties up money in receivables.
StrongCan it keep finding new work?Orders have kept growing, both from new outsourcing clients abroad and from more work inside existing ones.
WatchDo good and bad years swing a lot?Quarters move a lot with the timing of large licence and hardware deals and with the mix of what is sold.
Who runs Exato Technologies?
Promoters, directors and officers; tap a name for the background
AKAppuorv K SinhaPromoter, Chairman and Managing Director · holds 53.98%
An MBA from ICFAI University (2005) who studied engineering at Magadh University up to the fourth semester; over 20 years of experience, 18 of them in customer experience, analytics and enterprise technology, earlier National Manager, Alliances at Wipro Technologies. With the company since December 2017 and in charge of overall operations, software strategy and partnerships.
Offer document, p.191; Annual Report 2025-26, p.71SSSwati SinhaPromoter and Whole Time Director · holds 0.05%
A PGDBM from Indira School of Management Studies (2005), an executive director since November 2021 and Whole Time Director since June 2025, overseeing human resources and administration. The offer document states that Swati Sinha is the spouse of Appuorv K Sinha.
Offer document, p.191 and p.207; Annual Report 2025-26, p.71ASAbhijeet SinhaPromoter and Non Executive Director · holds 0.70%
A law graduate from the University of Pune (2004) and an advocate for over 20 years, an Advocate on Record at the Supreme Court since 2011; on the board since June 2025. The offer document states that Abhijeet Sinha is the brother of Appuorv K Sinha.
Offer document, p.191 and p.207; Annual Report 2025-26, p.71MRMilind Raman GodboleNon Executive, Non Independent Director
Former CEO and Managing Director of GeBBS Healthcare Solutions, earlier President and COO of Aditya Birla Minacs and COO of MphasiS; joined the board to help with international markets.
Investor presentation, September 2026, p.7; Earnings call, 19 August 2026, p.4MHMustaqueem HasanChief Financial Officer
An MBA in finance from ICFAI University, Tripura, with over 8 years in finance and accounts; with the company since October 2017 and CFO since August 2025.
Offer document, p.201VKVijay Kumar TyagiIndependent Director
A commerce graduate from Rajasthan University and banker, formerly Chief General Manager at State Bank of India and Chief Vigilance Officer at Punjab National Bank; chairs the audit committee.
Offer document, p.191 and p.195OROmkar RaiIndependent Director
A PhD in Statistics from Banaras Hindu University and former Director General of Software Technology Parks of India.
Offer document, p.191Exato Technologies latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 31 March 2026: promoters unchanged at 54.73%.
Exato Technologies announcements
7 on record, latest first; each opens the filing on the exchange
- Company UpdateCertificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026PDF ↗
- Company UpdateExato Technologies Limited is Certified in the Claude Partner Network. Please find attached the disclosure of the samePDF ↗
- AGM/EGMVoting Results pursuant to Regulation 44 of SEBI(LODR) Regulations, 2015 and Scrutinizer''s Report on the Results of the 9th Annual General Meeting of the CompaPDF ↗
- AGM/EGMProceedings of 9th Annual General Meeting (AGM) of the Company - Financial Year 2025-26PDF ↗
- Insider Trading / SASTIntimation of Closure of Trading Window in terms of SEBI (PIT) Regulations, 2015PDF ↗
- OthersRevised Annual Report for the Financial Year 2025-26PDF ↗
- Company UpdateCorrigendum to the Annual Report for the Financial Year 2025-26PDF ↗
Exato Technologies annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 Sept 2026 ↗read
- 30 June 2026 ↗read
- 28 Feb 2026 ↗read
Exato 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 Exato Technologies' data · 7
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 (1,00,65,371 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !Earnings per share changes basis between FY25 (₹6,992.75) and FY26 (₹15.99) 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 Exato Technologies
What does Exato Technologies do?
Exato Technologies sets up and runs the software that large call centres and customer service teams use, such as call recording, staff scheduling, analytics and chat and voice bots, mostly for outsourcing firms and banks. Its shares trade on BSE SME.
What is the share price of Exato Technologies?
₹583 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Exato Technologies?
₹586 cr at the close on 6 Nov 2026, on 1,00,65,371 shares.
What is the P/E of Exato Technologies?
36.4 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Exato Technologies' revenue and profit?
Revenue ₹168 cr and profit after tax ₹16 cr in FY26.
Who are the promoters of Exato Technologies?
Appuorv K Sinha, Swati Sinha, Abhijeet Sinha; promoters held 54.73% at 31 March 2026.
What is Exato Technologies' website?
www.exato.ai
More SME companies like Exato Technologies
Other listed SME companies in it - services, the closest in size first, each read from its own documents.
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- TechD CybersecurityTECHD · NSE Emerge · IT - Services · listed 2025Market cap ₹413 cr
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Built from 3 earnings call transcripts, 3 investor presentations, 2 annual reports, 1 offer document, 7 exchange announcements, 2 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.