Kwick Forensic SolutionsShare price, financial results, shareholding and management
- Market cap
- ₹403 cr
- Stock P/E
- 28.8peers 28.1
- Book value
- ₹19.6
- Price to book
- 9.60
- EV / operating profit
- -
- Market cap to sales
- 3.80
- ROCE · FY26
- 49.3%
- ROE · FY26
- 40.0%
- ROE, 3-year average
- 43.1%
- Operating margin · FY26
- 18.0%peers 15.7%
- Sales growth, 3 years
- 74.4%
- Profit growth, 3 years
- 91.3%
- Debt to equity
- 0.00peers 0.41
- Borrowings
- ₹0 cr
- Interest cover
- No interest
- Cash from business / op. profit
- 42%
- Debtor days
- 79
- Pledged
- 0.00%
- Promoter holding
- 64.65%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 896
- 52-week high / low
- ₹244 / ₹134
- 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.
Kwick Forensic Solutions share price chart
Close on 6 Nov 2026 · -3.17% on the day · Vol 67,200
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
- -11.8%
- Traded a day, 20 days
- ₹2.71 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +63% | +56% |
| 3 years, a year | +74% | +91% |
About Kwick Forensic Solutions: business, products and customers
Kwick Forensic Solutions supplies crime scene kits, fingerprint and DNA tools, cyber forensics equipment and fitted crime scene vans to police forces and forensic laboratories across India. It is based in Chennai and its shares trade on BSE SME.
Kwick Forensic Solutions started in Chennai in 2005 as a software firm making 3D simulation and moved into forensic science, beginning with a crime scene simulator. Today it sells over two hundred products in four groups: crime scene and physical evidence kits, cyber and digital forensics tools, DNA forensics systems, and mobile crime scene vans. It also rents out handheld X-ray scanners to government departments and offers maintenance.
Most products are bought ready-made from Indian and foreign makers under non-exclusive distribution deals or plain purchase orders; Kwick adds selection, delivery, installation, training and support, and makes a few items such as fingerprint imaging systems and fuming chambers in house. This makes it closer to a specialist trader and integrator than a manufacturer: goods bought are about three quarters of revenue, so gross margins are thin compared with a maker, and the offer document says capacity and its use do not apply.
Read more about the business
Buyers are police departments, state and central forensic laboratories, fingerprint bureaus and training academies, and work is won through tenders on the Government e-Marketplace and state e-procurement portals. Government work is paid slowly and must be backed by stock and security deposits, so the business needs a lot of working capital as it grows; that is what most of the IPO money is for.
The offer document says there is no listed company in India in the same line of business, so it gives no peer comparison.
From the offer document (prospectus, July 2026) and the investor presentation of September 2026.
Read the deeper study ↓In its favour
- Sales have grown very fast: 74% a year over three years.
- It earns a high return on the money it uses: ROCE 49% in FY26.
- It has little debt for its size: debt to equity 0.00.
- The promoters own a large part of the company: 64.65%.
To watch
- Use of the ₹31.4 cr of IPO money set aside for FY27 working capital (Offer document, p.29).
- Collection of receivables from government buyers (Investor presentation, September 2026, p.19).
- The share of revenue from the top customers and from government buyers (Offer document, p.24 and p.29).
- Staff attrition after it rose to 27% in FY26 (Offer document, p.40).
- Customers take longer to pay than before: 79 days in FY26, against 45 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.
Kwick Forensic Solutions 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.
Kwick Forensic Solutions profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 12 | 4 | 20 | 30 | 65 | 106 |
| Expenses | 10 | 4 | 17 | 25 | 53 | 87 |
| Operating profit | 2 | 0 | 3 | 5 | 12 | 19 |
| OPM | 15.0% | 9.0% | 16.0% | 18.0% | 19.0% | 18.0% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 1 | 0 | 1 | 1 | 1 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional and other items | · | · | · | · | · | -1 |
| Profit before tax | 1 | 0 | 2 | 4 | 11 | 18 |
| Tax rate | 0.0% | 7.0% | 0.0% | 25.0% | 18.2% | 22.2% |
| Net profit | 1 | 0 | 2 | 3 | 9 | 14 |
| EPS ₹ | 24.24 | 4.24 | 52.73 | 14.66 | 40.58 | 8.01 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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 FY23 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Kwick Forensic Solutions 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 | 15.0% | 9.0% | 16.0% | 18.0% | 19.0% | 18.0% |
| Tax rate | 0.0% | 7.0% | 0.0% | 25.0% | 18.2% | 22.2% |
| ROCE | · | 0.0% | 43.9% | 42.9% | 54.5% | 49.3% |
| ROE | · | 0.0% | 60.1% | 41.9% | 47.4% | 40.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Kwick Forensic Solutions 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. Customers pay faster than they did in FY24, which frees up the company's money.
Bars below the line are cash going out.
Kwick Forensic Solutions balance sheet
At each 31 March · ₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 0.33 | 0.33 | 0.33 | 2 | 2 | 17 |
| Reserves | 2 | 2 | 4 | 8 | 26 | 25 |
| Net worth | 2.33 | 2.33 | 4.33 | 10 | 28 | 42 |
| Borrowings | 2 | 1 | 6 | 3 | 3 | 0 |
| Other liabilities | 1.67 | 2.67 | 2.67 | 6 | 16 | 19 |
| Total liabilities | 6 | 6 | 13 | 19 | 47 | 61 |
| Fixed assets | 0 | 0 | 1 | 1 | 1 | 3 |
| Capital work in progress | 0 | 0 | 0 | 0 | 1 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 6 | 6 | 12 | 18 | 45 | 57 |
Kwick Forensic Solutions cash flow
₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | 4 | -1 | 0 | -3 | 5 | 8 |
| Cash from investing | 0 | 0 | -1 | 0 | -1 | -3 |
| Cash from financing | -2 | 0 | 4 | -1 | 8 | -4 |
| Net cash flow | 2 | -1 | 3 | -4 | 12 | 1 |
Working capital
Days
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 45 | 34 | 32 | 144 | 111 | 79 |
| Inventory days | 54 | 838 | 93 | 63 | 62 | 49 |
| Days payable | 16 | 158 | 51 | 63 | 85 | 41 |
| Cash conversion cycle | 83 | 714 | 74 | 145 | 88 | 87 |
| Working capital days | 22 | 218 | -38 | 97 | 73 | 78 |
Kwick Forensic Solutions peers and competitors
Listed SME companies in the same industryBy sales, Kwick Forensic Solutions is number 26 of the 55 listed SME companies in industrial manufacturing.
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 |
|---|---|---|---|---|---|---|
| Captain Technocast | 546 | 42.0 | 130 | 13 | 13.0% | 0.38 |
| FX Multitech | 182 | 15.1 | 126 | 12 | 15.0% | 0.68 |
| Gabion Technologies India | 172 | 21.5 | 115 | 8 | 15.0% | 0.77 |
| L. T. Elevator | 727 | 42.8 | 111 | 17 | 24.0% | 0.22 |
| Apollo Techno Industries | 123 | 11.1 | 110 | 11 | 13.0% | 0.30 |
| Cospower Engineering | 553 | 42.5 | 107 | 13 | 21.0% | 0.60 |
| Kwick Forensic Solutions | 403 | 28.8 | 106 | 14 | 18.0% | 0.00 |
| SpectraA Technology Solutions | 338 | 28.1 | 101 | 12 | 19.0% | 1.08 |
| Taurian MPS | 546 | 33.7 | 99.3 | 16.2 | 24.9% | 0.28 |
| Shri Balaji Valve Components | 108 | 12.6 | 96.8 | 8.6 | 16.4% | 0.43 |
| Sona Machinery | 42 | - | 84.5 | -3.5 | -4.1% | 0.11 |
| Median of the 10 others | 260 | 28.1 | 109 | 12 | 15.7% | 0.41 |
Kwick Forensic Solutions shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders is about the same.
Kwick Forensic Solutions 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 26 | Sep 26 | |
|---|---|---|
| Promoters | 64.65% | 64.65% |
| Foreign investors (FIIs) | - | 1.49% |
| Indian institutions (DIIs) | - | 10.85% |
| Number of shareholders | 896 | 896 |
Kwick Forensic Solutions study: the business from its own documents
Read from 6 of the company's own documentsKwick Forensic Solutions so far
From the company's own record
- March 2005Company formed
- 30 Sept 2026Promoters at 64.65%
- 12 Oct 2026Highest close since listing, ₹236.15
Kwick Forensic Solutions key facts from the filings
Each figure with the document it comes from
- FY26 revenue
- ₹105.7 cr
- Up from ₹65.0 cr in FY25 and ₹30.2 cr in FY24; profit after tax was ₹13.5 cr.Investor presentation, September 2026, p.20
- Government share
- 55.22%
- Share of FY26 revenue from government buyers, down from 86.98% in FY24 as non-government sales grew.Offer document, p.29
- Top ten customers
- 77.64%
- Share of FY26 revenue; the largest single customer gave 23.59%.Offer document, p.24
- Cyber forensics
- 33.32%
- Share of FY26 revenue, up from 21.28% in FY24; crime scene and evidence kits gave 36.99%.Offer document, p.24
- DNA forensics
- ₹11.4 cr
- FY26 sales, from ₹0.43 cr two years earlier.Offer document, p.24
Show 5 more facts
- Bought in India
- 91.35%
- Share of FY26 purchases sourced in India, up from 65.42% in FY24 as imports were cut.Offer document, p.153
- Top supplier
- 40.86%
- Share of FY26 purchases from the largest supplier; the top five gave 67.74%.Offer document, p.27
- Money to collect
- ₹22.9 cr
- Trade receivables at March 2026, with inventory of ₹10.4 cr.Investor presentation, September 2026, p.19
- IPO money for working capital
- ₹31.4 cr
- Of a ₹44.4 cr working capital need for FY27, to come from the fresh issue.Offer document, p.29
- Staff turnover
- 27%
- Employee attrition in FY26, up from 6% in each of the two years before; no key managers left.Offer document, p.40
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 has not given guidance on sales or profit and does not state a current order book. Its dated plan is to fund most of its FY27 working capital need of ₹44.4 cr from the fresh issue, ₹31.4 cr, to bid for and carry larger government tenders. In a September 2026 press release it pointed to the planned National Forensic Sciences University campus in Varanasi as the kind of new forensic infrastructure it could supply, while saying no contract or order is implied.
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.
Kwick Forensic buys forensic tools from makers in India and abroad and supplies, installs and supports them for police and forensic laboratories, winning most work through tenders.
Its weak spots are a few large customers, slow government payments that tie up cash, and products that rivals can also get from the same makers.
WatchCan it set its own prices?Prices are set in tenders, and the cost of goods has risen as a share of sales even as cheaper Indian sourcing grew.
AverageHow strong is it against rivals?Long experience supplying police and forensic labs across many states and a few in-house products help, but most products are not exclusive to it.
WatchWho are its customers?Mostly government police and forensic bodies, with a handful of buyers making up most of sales.
WatchDoes it need a lot of money?Yes: growing means carrying stock, waiting for government payments and placing tender deposits.
AverageCan it keep finding new work?Sales have grown fast across new product lines and non-government buyers, but there is no stated order book.
AverageDo good and bad years swing a lot?Recent years have only grown, but a business won on tenders can swing when big orders end.
Who runs Kwick Forensic Solutions?
Promoters, directors and officers; tap a name for the background
SSShammer Saralal ShahPromoter, Chairman and Managing Director
Founder; B.Com from the University of Madras (1987) with over 40 years across electronics, forensics and information technology. Earlier with Shah Electronics from 1985, leading a move into transformers, stabilisers and inverters, and a partner in Shah Trading Co. A director since March 2005 and Managing Director since August 2025.
Offer document, p.184, p.187 and p.205SSSejal Shammer ShahPromoter and Non-Executive Director
20 years of experience in administration and management; guides workplace culture and employee welfare. A director since September 2014 and promoter and director of Extreme Covet Private Limited. The offer document records Sejal Shammer Shah as the spouse of Shammer Saralal Shah.
Offer document, p.185, p.187 and p.191THTulsidas Hinduja Ashok KumarPromoter and Chief Operating Officer
B.Com from Loyola College, Madras (1982) and a postgraduate diploma in business administration from Loyola Institute of Business Administration (1985); over 40 years in software development, ERP design and business development, earlier with Newgen Imaging Systems. With the company since September 2008 and Chief Operating Officer since August 2024; won first place in forensic electronics at the Forensic Hackathon 2023.
Offer document, p.190, p.200 and p.205NBNeeraj Bakulesh JhaveriWhole-Time Director and Chief Marketing Officer
B.Com (2007) and M.Com (2008) from the University of Mumbai; 21 years in sales, marketing and business development, earlier with Rosy Blue (India). Leads sales and ties with global suppliers. The offer document records Neeraj Bakulesh Jhaveri as a distant relative of Shammer Saralal Shah.
Offer document, p.185, p.188 and p.191SVSonia VaidIndependent Director
B.Com from the University of Delhi and a company secretary; over 4 years in secretarial and corporate compliance work, currently Company Secretary at Diensten Tech.
Offer document, p.186 and p.188BMBheekamchand MukeshIndependent Director
MBBS from Government Medical College, Mysore; over 25 years as a consultant diabetologist at Mercury Hospital, Egmore, and an independent director of Bal Pharma.
Offer document, p.186 to p.188VJVishal JainChief Financial Officer
Chartered accountant (2021) and B.Com from the University of Madras; about 5 years in tax, audit, financial planning and SAP work, earlier a Lead Solution Advisor at Deloitte. Chief Financial Officer since August 2025.
Offer document, p.201SKSelvakumar KrithikaCompany Secretary and Compliance Officer
Company secretary with about 6 years in compliance and advisory work, earlier in practice on own account; joined in September 2025.
Offer document, p.201Kwick Forensic Solutions 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 unchanged at 64.65%.
Kwick Forensic Solutions announcements
10 on record, latest first; each opens the filing on the exchange
- Company UpdatePlease refer attachmentPDF ↗
- Company UpdatePlease find the attachmentPDF ↗
- Company UpdateThe Exchange has sought clarification from Kwick Forensic Solutions Ltd on October 08, 2026 with reference to significant movement in price, in order to ensure
- Company UpdateAs per attachmentPDF ↗
- Company UpdatePresentation for Bharat Connect Conference Rising StarPDF ↗
- Insider Trading / SASTIntimation for closure of Trading WindowPDF ↗
- Company UpdateSubmission of Press releasePDF ↗
- Company UpdatePlease find attachedPDF ↗
- Company UpdatePlease find the attachedPDF ↗
- Company UpdateIntimation under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations') - Participation in BharatPDF ↗
Kwick Forensic Solutions 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 Sept 2026 ↗read
Kwick Forensic Solutions 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 Kwick Forensic Solutions' 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 28 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 (2,14,36,440 shares).
- !The FY26 results imply 1,70,00,000 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 changes basis between FY23 (₹52.73) and FY24 (₹14.66) 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 Kwick Forensic Solutions
What does Kwick Forensic Solutions do?
Kwick Forensic Solutions supplies crime scene kits, fingerprint and DNA tools, cyber forensics equipment and fitted crime scene vans to police forces and forensic laboratories across India. It is based in Chennai and its shares trade on BSE SME.
What is the share price of Kwick Forensic Solutions?
₹188 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Kwick Forensic Solutions?
₹403 cr at the close on 6 Nov 2026, on 2,14,36,440 shares.
What is the P/E of Kwick Forensic Solutions?
28.8 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Kwick Forensic Solutions' revenue and profit?
Revenue ₹106 cr and profit after tax ₹14 cr in FY26.
Who are the promoters of Kwick Forensic Solutions?
Shammer Saralal Shah, Sejal Shammer Shah, Tulsidas Hinduja Ashok Kumar; promoters held 64.65% at 30 Sept 2026.
What is Kwick Forensic Solutions' website?
www.kwickforensic.com
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Built from 2 investor presentations, 2 credit rating notes, 1 offer document, 1 press release, 10 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.