Kratikal TechShare price, financial results, shareholding and management
- Market cap
- ₹177 cr
- Stock P/E
- 29.7peers 16.2
- Book value
- ₹21.5
- Price to book
- 7.42
- EV / operating profit
- -
- Market cap to sales
- 4.82
- ROCE · FY26
- 48.2%
- ROE · FY26
- 33.8%
- ROE, 3-year average
- 48.1%
- Operating margin · FY26
- 25.0%peers 11.9%
- Sales growth, 3 years
- 59.0%
- Profit growth, 3 years
- +51.3%
- Debt to equity
- 0.00peers 0.00
- Borrowings
- ₹0 cr
- Interest cover
- 37.0×
- Cash from business / op. profit
- 10%
- Debtor days
- 89
- Pledged
- 0.00%
- Promoter holding
- 53.40%
- Change in promoter holding
- +0.25 pts
- Shareholders
- 562
- 52-week high / low
- ₹199 / ₹141
- 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.
Kratikal Tech share price chart
Close on 6 Nov 2026 · -0.28% 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
- -6.7%
- 3 months
- -0.2%
- Traded a day, 20 days
- ₹0.19 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +76% | +51% |
| 3 years, a year | +59% | - |
About Kratikal Tech: business, products and customers
Kratikal Tech sells cybersecurity software that trains company staff to spot phishing and fraud emails, and tests and audits company systems for security weak spots, for clients in India and abroad. Its shares trade on BSE SME.
Kratikal Tech, formed in Noida in 2013, works in two lines. Threatcop is software sold as a yearly per-user subscription that runs mock phishing and voice attacks on a client's staff, trains them, guards email domains through DMARC and lets staff report suspect mail; the Kratikal line tests networks, apps and cloud set-ups for weaknesses, runs compliance audits for standards such as ISO 27001, SOC 2 and RBI and SEBI rules, and supplies an outsourced security chief, delivered through its own AutoSecT platform. It is a CERT-In empanelled security auditor and is empanelled by NSE for system audits of trading members.
Threatcop licences are usually billed a year in advance and made up about 54% of FY26 revenue, while testing and audit work is priced per asset or per project and needs skilled staff, so salaries are the largest cost. The company keeps the cost of software it is still building on the balance sheet as an intangible asset instead of charging it to profit at once, and money owed by clients more than doubled in FY26, so operating cash came in well below reported profit. Exports reached about 30% of revenue, led by the UAE, the USA and Saudi Arabia, and part of FY26 profit came from Threatcop AI Inc., a US subsidiary formed in December 2025.
Read more about the business
The offer document compares Kratikal with two listed companies in the same industry, AAA Technologies and Accedere, and names large IT firms and specialist security vendors such as Quick Heal, Seqrite, Paladion and Lucideus (Safe Security) among its competitors. The shares listed on BSE SME on 7 July 2026 after an IPO at ₹135 a share; the money is set aside for sales teams in the US and UAE subsidiaries and for product development, and on 8 October 2026 the company told the exchange it had formed another wholly owned subsidiary, Kratikal AI Inc.
From the Red Herring Prospectus of June 2026, the FY26 annual report filed on BSE and the company's exchange announcement of 8 October 2026.
Read the deeper study ↓In its favour
- Sales have grown very fast: 59% a year over three years.
- It earns a high return on the money it uses: ROCE 48% in FY26.
- It has little debt for its size: debt to equity 0.00.
To watch
- Use of the IPO money: ₹23.1 cr for the US and UAE subsidiaries and ₹9.2 cr for product development, due to be spent by 30 June 2027 (Offer document, p.98 to p.100).
- Threatcop Inc. of Delaware, a promoter group company led by Pavan Kumar with no non-compete with Kratikal, was paid ₹0.10 cr and advanced ₹0.06 cr in FY26; the brand trademarks stay registered to Pavan Kumar (Offer document, p.41, p.206 to p.207 and p.324; Annual report FY26, p.100).
- Easenode Tech, run by Mahendra Kushwah and Lakhendra Kushwah, listed as brothers of Pavan Kumar, was paid ₹0.26 cr in FY26; the directors' report says executive pay exceeded Section 197 limits (Offer document, p.246 to p.247 and p.323; Annual report FY26, p.45 and p.100).
- Sanjeev Kumar Sinha's board term ends on 16 November 2026; three GST scrutiny notices await a response, and the UAE subsidiary may face an AED 10,000 penalty for late tax registration (Offer document, p.229 to p.230, p.309 and p.311).
- Customers take longer to pay than before: 89 days in FY26, against 74 in FY20.
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.
Kratikal Tech revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
Kratikal Tech profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 3.95 | 4.10 | 5.42 | 9.14 | 13.02 | 20.85 | 36.72 |
| Expenses | 4.55 | 3.80 | 5.39 | 9.24 | 9.12 | 15.54 | 27.53 |
| Operating profit | -0.60 | 0.30 | 0.03 | -0.10 | 3.90 | 5.31 | 9.19 |
| OPM | -15.2% | 7.3% | 0.6% | -1.1% | 29.9% | 25.5% | 25.0% |
| Other income | 0.08 | 0.03 | 0.07 | 0.17 | 0.27 | 0.29 | 0.14 |
| Interest | 0.01 | 0.01 | 0.01 | 0.01 | 0.03 | 0.04 | 0.23 |
| Depreciation | 0.19 | 0.15 | 0.08 | 0.14 | 0.21 | 0.30 | 0.83 |
| Profit before tax | -0.72 | 0.17 | 0.01 | -0.08 | 3.93 | 5.26 | 8.27 |
| Tax rate | -1.4% | -5.9% | 0.0% | -37.5% | 18.6% | 25.1% | 27.9% |
| Net profit | -0.71 | 0.18 | 0.01 | -0.06 | 3.20 | 3.94 | 5.96 |
| EPS ₹ | -1.15 | 0.29 | 0.02 | -0.10 | 5.16 | 6.35 | 7.30 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
A tax rate above 60% or below zero (FY20, FY21, FY23) comes from tax charged on a small or negative profit, as reported.
Earnings per share before FY22 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Kratikal Tech 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
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -15.2% | 7.3% | 0.6% | -1.1% | 29.9% | 25.5% | 25.0% |
| Tax rate | -1.4% | -5.9% | 0.0% | -37.5% | 18.6% | 25.1% | 27.9% |
| ROCE | · | 5.8% | 0.6% | -2.2% | 81.6% | 58.8% | 48.2% |
| ROE | · | 5.9% | 0.3% | -1.9% | 66.5% | 43.9% | 33.8% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Kratikal Tech 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 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 longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Kratikal Tech balance sheet
At each 31 March · ₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Equity capital | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 8.16 |
| Reserves | 2.96 | 3.14 | 3.15 | 3.07 | 6.53 | 11.41 | 15.68 |
| Net worth | 2.97 | 3.15 | 3.16 | 3.08 | 6.54 | 11.42 | 23.84 |
| Borrowings | 0.02 | 0.02 | 0.02 | 0.03 | 0.05 | 0.03 | 0.01 |
| Other liabilities | 0.25 | 0.46 | 0.73 | 1.05 | 2.46 | 4.02 | 6.27 |
| Total liabilities | 3.24 | 3.63 | 3.91 | 4.16 | 9.05 | 15.47 | 30.12 |
| Fixed assets | 0 | 0 | 0.12 | 0.28 | 0.33 | 0.48 | 3.75 |
| Capital work in progress | 0 | 0 | 0 | 0 | 3.63 | 7.42 | 8.63 |
| Investments | 0.01 | 0.26 | 1.12 | 0.62 | 0.60 | 0.37 | 4.84 |
| Other assets | 3.23 | 3.37 | 2.67 | 3.26 | 4.49 | 7.20 | 12.90 |
Kratikal Tech cash flow
₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | 0 | 0 | 0 | · | 4.22 | 3.64 | 0.93 |
| Cash from investing | 0 | 0 | 0 | · | -3.82 | -3.71 | -8.90 |
| Cash from financing | 0 | 0 | 0 | · | 0.02 | 0 | 7.56 |
| Net cash flow | 0 | 0 | 0 | · | 0.42 | -0.07 | -0.41 |
Working capital
Days
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 74 | 88 | 75 | 71 | 68 | 71 | 89 |
| Cash conversion cycle | 74 | 88 | 75 | 71 | 68 | 71 | 89 |
| Working capital days | 103 | 106 | 71 | 64 | 30 | 45 | 69 |
Kratikal Tech peers and competitors
Listed SME companies in the same industryBy sales, Kratikal Tech is number 17 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 |
|---|---|---|---|---|---|---|
| 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 | 177 | 29.7 | 36.7 | 6 | 25.0% | 0.00 |
| Paramatrix Technologies | 63 | 24.1 | 28.9 | 2.6 | 2.6% | 0.21 |
| Olatech Solutions | 26 | 16.0 | 27.6 | 1.6 | 13.1% | 0.52 |
| Focus Business Solution | 219 | 251.3 | 24.1 | 0.9 | 6.7% | 0.01 |
| Ace Alpha Tech | 288 | 19.2 | 24 | 15 | 79.0% | 0.00 |
| Quicktouch Technologies | 18 | - | 22.3 | -9.5 | -22.4% | 0.68 |
| Austere Systems | 44 | 8.7 | 22.3 | 5 | 28.2% | 0.00 |
| Yudiz Solutions | 23 | - | 21.8 | -0.2 | -0.8% | 0.00 |
| Logiciel Solutions | 24 | 10.2 | 20.7 | 2.4 | 10.7% | 0.00 |
| Median of the 10 others | 53 | 16.2 | 24.1 | 2.5 | 11.9% | 0.00 |
Kratikal Tech 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.
Kratikal Tech 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.
| Jun 25 | Jul 25 | Sep 26 | |
|---|---|---|---|
| Promoters | 53.15% | 53.15% | 53.40% |
| Foreign investors (FIIs) | - | 0.64% | - |
| Indian institutions (DIIs) | - | 10.26% | - |
| Number of shareholders | 815 | 815 | 562 |
Kratikal Tech study: the business from its own documents
Read from 2 of the company's own documentsKratikal Tech so far
From the company's own record
- November 2013Company formed
- 30 Sept 2026Promoters at 53.40%
- 13 July 2026Highest close since listing, ₹185.00
Kratikal Tech key facts from the filings
Each figure with the document it comes from
- Sales in FY26
- ₹36.7 cr
- Consolidated revenue from operations, up from ₹20.9 cr in FY25 and ₹13.0 cr in FY24.Annual report FY26, p.35 to p.36; Offer document, p.178
- Subscriptions
- 53.8%
- Share of FY26 revenue from the Threatcop products; the rest is testing, audit and advisory work.Annual report FY26, p.56; Offer document, p.199
- Exports
- 29.9%
- Share of FY26 revenue from clients outside India, up from 13.2% in FY25.Offer document, p.181 and p.199
- IPO
- ₹39.7 cr
- Fresh issue of 29,40,000 shares at ₹135; listed on BSE SME on 7 July 2026.Annual report FY26, p.36 to p.37 and p.49
- US subsidiary's profit
- ₹1.88 cr
- Profit of Threatcop AI Inc., formed in December 2025, on turnover of ₹3.16 cr in FY26, with no tax provided.Annual report FY26, p.54; Offer document, p.223
Show 5 more facts
- Money owed by clients
- ₹8.9 cr
- Trade receivables at March 2026, against ₹4.1 cr a year earlier; ₹0.65 cr was older than six months.Annual report FY26, p.87 and p.95 to p.96
- Operating cash flow
- ₹0.9 cr
- Consolidated cash from operations in FY26, down from ₹3.6 cr in FY25 as receivables rose.Annual report FY26, p.89
- Software still being built
- ₹8.6 cr
- Intangible assets under development at March 2026; ₹4.6 cr of development cost was added in FY26.Annual report FY26, p.87 and p.101; Offer document, p.270
- Top ten clients
- 31.6%
- Share of FY26 revenue, up from 21.9% in FY25; the largest client gave 8.9%.Annual report FY26, p.56; Offer document, p.36 and p.205
- Staff
- 200
- Employees on the payroll at March 2026, including key managers.Offer document, p.200
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 figures for future sales or profit. The offer document sets out how the IPO money is to be used: ₹23.1 cr for sales, marketing and staff in the UAE and US subsidiaries and ₹9.2 cr for product development, spread over FY27 and FY28, and it states the whole proceeds are to be used by 30 June 2027. The FY26 management discussion says the company will keep scaling AutoSecT and deepen its US and UAE presence.
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.
Kratikal earns from yearly software subscriptions that train staff against phishing and from security testing and audit work, and it has grown fast at home and abroad.
Its weak spots are cash that lags reported profit, a young overseas push, and brand names and related companies tied to the promoters.
AverageCan it set its own prices?Partly. Subscriptions come in tiers and many audits are required by regulators, but larger rivals can push prices down.
AverageHow strong is it against rivals?It has its own products and official empanelments, but it is small next to large IT firms and global security vendors.
StrongWho are its customers?Many companies across sectors and countries, with no single client above a tenth of sales, though the biggest clients are growing as a share.
AverageDoes it need a lot of money?It needs no factories or bank loans, but it carries money owed by clients and the cost of software still being built.
StrongCan it keep finding new work?Revenue has grown every year and most product income is on yearly licences that come up for renewal, with IPO money set aside for sales teams abroad.
AverageDo good and bad years swing a lot?Demand rests on regulation and yearly subscriptions, but a young overseas push and a new subsidiary's profit make results less settled.
Who runs Kratikal Tech?
Promoters, directors and officers; tap a name for the background
PKPavan KumarPromoter, Chairman, Managing Director and CEO
Founder and a director since the company was formed on 13 November 2013; Managing Director and CEO since 1 March 2025. B.Tech in Biotechnology from Motilal Nehru National Institute of Technology Allahabad (2015) with 11 years at the company; the offer document says Pavan Kumar invented real-time DMARC, has two patent applications pending and co-authored three cybersecurity books. Paid ₹0.50 cr in FY26. The Kratikal and Threatcop trademarks are registered in Pavan Kumar's name with a no-objection letter to the company, and Pavan Kumar is President of promoter group company Threatcop Inc. Held 36,13,813 shares.
Offer document, p.206 to p.207, p.227 to p.230, p.232 to p.233 and p.324PKParatosh KumarPromoter and Whole Time Director · holds 14.46%
B.Tech in Computer Science and Engineering from Motilal Nehru National Institute of Technology Allahabad (2015) with 11 years at the company; led sales and marketing, the testing team and the building of AutoSecT and the Threatcop suite. A director since 17 February 2017 and Whole Time Director from 17 July 2025; paid ₹0.50 cr in FY26 and up for re-appointment by rotation at the August 2026 AGM. The offer document states the three promoters are not related to each other.
Offer document, p.227 to p.228, p.230 to p.231 and p.246; Annual report FY26, p.31DJDip Jung ThapaPromoter, Chief Operating Officer and Executive Director · holds 6.12%
B.Tech in Mechanical Engineering from Motilal Nehru National Institute of Technology Allahabad (2015); Chief Operating Officer since 2016 with 9 years of experience, leading the Threatcop product suite, and manager of the UAE subsidiary Threatcop FZ-LLC. Added to the board as an executive director from 6 August 2026, with the appointment and pay of up to ₹0.60 cr a year put to the August 2026 AGM.
Offer document, p.240 and p.244; Annual report FY26, p.13 and p.28 to p.32ARAnand Ramanlal KarwaIndependent Director, chair of the audit committee
Cost and Works Accountant (1995) with over 17 years in finance, treasury, budgeting and ERP roll-outs; on the board since 27 August 2025 for a term of 18 months. The offer document lists a disputed income tax demand of ₹29,900 plus ₹25,909 interest against Anand Ramanlal Karwa for AY 2022-23.
Offer document, p.228 to p.229, p.231 and p.310; Annual report FY26, p.42SKSanjeev Kumar SinhaIndependent Director, chair of the nomination and remuneration committee
Master of Engineering in Computer Science and Engineering from the University of Allahabad; worked with Bharat Electronics and ImpactQA Services in technology development and software quality. On the board since 17 November 2025 for a one-year term to 16 November 2026.
Offer document, p.229 to p.231 and p.237; Annual report FY26, p.42Kratikal Tech latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 30 Sept 2026: promoters 53.15% to 53.40%.
Kratikal Tech announcements
8 on record, latest first; each opens the filing on the exchange
- Company UpdateKratikal Tech Limited has submitted the Statement for dematerialization of shares report for the period ended 30th September 2026PDF ↗
- Company UpdateKratikal Tech Limited has informed the Stock Exchange regarding the incorporation of newly incorporated wholly owned subsidiary named Kratikal AI Inc. in the stPDF ↗
- Company UpdateKratikal Tech Limited has informed the Stock exchange regarding the appointment of "GOINDIA ADVISORS LLP" as Investor Relation Agency of the CompanyPDF ↗
- Insider Trading / SASTKratikal Tech Limited has informed the Stock Exchange that trading window for dealing in the securities of the company will be closed from Thursday, October 1, PDF ↗
- Company UpdateApproved the appointment of M/s MSMK & Co. Chartered Accountants as the internal auditor of the Company for the F.Y. 2026-2027PDF ↗
- Company UpdateApproved the appointment of M/s Mittal V Kothari & Associates, Company Secretaries in practice as the Secretarial Auditor of the Company for the FY 2026-2027PDF ↗
- Company UpdateKratikal tech limited has informed the Stock Exchange regarding the proposed appointment of a Wholly-Owned subsidiary in the state of Delaware, United States ofPDF ↗
- OthersKratikal tech limited has informed the stock exchange about the outcome of Board meeting held Today IE September 23, 2026,PDF ↗
Kratikal Tech annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- FY26 ↗read
Kratikal Tech 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 Kratikal Tech's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 70 days in the past year, so the price, its range and the returns here rest on few trades.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,11,00,545 shares).
- !The FY26 results imply 81,60,000 shares at face value ₹10, which disagrees with the shareholding pattern; the pattern is used.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY20 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Kratikal Tech
What does Kratikal Tech do?
Kratikal Tech sells cybersecurity software that trains company staff to spot phishing and fraud emails, and tests and audits company systems for security weak spots, for clients in India and abroad. Its shares trade on BSE SME.
What is the share price of Kratikal Tech?
₹160 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Kratikal Tech?
₹177 cr at the close on 6 Nov 2026, on 1,11,00,545 shares.
What is the P/E of Kratikal Tech?
29.7 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Kratikal Tech's revenue and profit?
Revenue ₹37 cr and profit after tax ₹6 cr in FY26.
Who are the promoters of Kratikal Tech?
Pavan Kumar, Paratosh Kumar, Dip Jung Thapa; promoters held 53.40% at 30 Sept 2026.
What is Kratikal Tech's website?
www.kratikal.com
More SME companies like Kratikal Tech
Other listed SME companies in it - software, the closest in size first, each read from its own documents.
- Capitalnumbers InfotechCNINFOTECH · BSE SME · IT - SoftwareMarket cap ₹178 cr
- Trident TechlabsTECHLABS · NSE Emerge · IT - Software · listed 2023Market cap ₹176 cr
- ENS EnterprisesENS · BSE SME · IT - SoftwareMarket cap ₹183 cr
- NaapbooksNBL · BSE SME · IT - SoftwareMarket cap ₹158 cr
- Canarys AutomationsCANARYS · NSE Emerge · IT - Software · listed 2023Market cap ₹146 cr
- Focus Business SolutionFOCUS · BSE SME · IT - SoftwareMarket cap ₹228 cr
Built from 1 offer document, 1 annual report, 8 exchange announcements, 3 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.