Information Technology · NSE: SAKSOFT · BSE: 590051
Saksoft: how the business works
Saksoft builds and maintains custom software for mid-sized companies, mostly in the US and Europe, earning ₹1,007 crore in FY26.
Saksoft Limited · Chennai, Tamil Nadu · Founded 1999
Last updated · Reviewed by Cityfort Research on
- Revenue, FY26
- ₹1,007 cr
- Net profit, FY26
- ₹133 cr
- Clients paying over US$1 million a year, Jun 2026
- 16
- Founded
- 1999
- Promoter holding, Sep 2026
- 66.72%
01 · The business in one line
What does Saksoft do?
Mid-sized companies pay Saksoft to build and run software; staff and subcontractors take ₹75 of every ₹100, leaving ₹13 profit.
- In FY26, clients in the US paid 50.4% of revenue, Europe 28.7%, and Asia-Pacific and others 20.9%.
- In FY26, its own staff took ₹49.8 of every ₹100 that came in. Subcontractors took ₹25.6.
02 · What it sells
What does Saksoft sell?
Custom software and modernisation
Builds software made for one client, and rewrites old (legacy) systems so they run on newer technology.
Software testing
Checks that software works before and after release. Saksoft entered testing by buying ThreeSixty Logica in 2014.
Data analytics
Turns a client's business data into information that managers use to make decisions.
Cloud, infrastructure and security
Helps clients move systems to the cloud, manage their IT infrastructure and protect it from cyber attacks.
Salesforce and ServiceNow work
Sets up and customises these two business software platforms for clients. The skills came with the Ceptes (2024) and Zetechno (2025) acquisitions.
What it does
- Does: Keeps supporting and improving software after building it. CARE says this brings repeat business after a first one-year contract.
- Does: Delivered 56% of FY26 revenue from offshore centres rather than at client sites.
- Does: Grows partly by buying small IT firms and selling their skills to existing clients, per CARE.
What it does not do
- Does not: Does not sell to consumers: its clients are companies.
- Does not: Is not mainly an India business: US and European clients paid 79.1% of FY26 revenue.
- Does not: Does not name its biggest customers in its filings.
Source: Earnings presentation Q1 FY27; CARE Ratings press release: CARE A; Stable / CARE A1 reaffirmed; Annual Report FY25 (26th) and 2 more
03 · Who pays it
Who pays Saksoft?
Hi-tech, media, telecom and utility companies
46%
of revenue
Saksoft calls these its 'emerging verticals'. They buy software building, testing and data work.
Banks and financial services firms
31%
of revenue
Saksoft's first market, per CARE. They pay for software development, testing and data work.
Logistics and transport companies
14%
of revenue
Saksoft entered logistics, transport and connected-device (IoT) work by buying DreamOrbit in 2016.
Commerce (online and retail) companies
9%
of revenue
E-commerce and retail software. The 2023 Solveda acquisition added this vertical.
- Hi-tech, media, telecom and utility companies46%
- Banks and financial services firms31%
- Logistics and transport companies14%
- Commerce (online and retail) companies9%
Customer concentration
In FY26 two customers each paid 10% or more of revenue; the top five paid 42%. Two customers have each paid 10% or more every year since FY21. The top 20 clients paid 70% of FY26 revenue. Customers are not named.
- Top 5 customers
- 42%
- Top 10 customers
- 58%
Source: Annual Report FY26 (27th), incl. BRSR FY26; CARE Ratings press release: CARE A; Stable / CARE A1 reaffirmed; Annual Report FY25 (26th) and 3 more
04 · How the money flows · FY26
How does money flow through Saksoft?
Money in
- Revenue from operations₹1,007 cr
- Other income₹19.8 cr
The company
Saksoft
₹1,027 cr came in
Money out
- Employee costs₹512 cr
- Subcontractors (support and third-party charges)₹263 cr
- Other running costs₹45.8 cr
- Depreciation₹13.5 cr
- Interest and tax₹55.3 cr
- One-off Labour Code charge₹4.9 cr
- Net profit₹133 cr
- In FY26 clients paid Saksoft ₹1,007 crore. It also earned ₹19.8 crore of other income.
- Salaries and other staff costs took the biggest share: ₹512 crore.
- Subcontractors who work on Saksoft projects took ₹263 crore. Other running costs took ₹45.8 crore.
- Depreciation, interest and tax took ₹68.7 crore. A one-off charge for India's new Labour Codes took ₹4.9 crore.
- The ₹133 crore left was net profit, all of it belonging to Saksoft's shareholders.
Source: Annual Report FY26 (27th), incl. BRSR FY26; Q4 FY26 consolidated financial results (statement + NSE XBRL)
05 · Where the money goes · FY26
Where does ₹100 of Saksoft's money go?
Saksoft · FY26
Receipt for every ₹100
| Employees | ₹49.8 |
|---|---|
| Subcontractors | ₹25.6 |
| Other running costs | ₹4.5 |
| Depreciation | ₹1.3 |
| One-off Labour Code charge | ₹0.5 |
| Interest and tax | ₹5.4 |
| Kept as profit | ₹13.0 |
| Total | ₹100 |
Each line = amount ÷ total money in × 100. Lines may not add to exactly ₹100 because of rounding.
Source: Annual Report FY26 (27th), incl. BRSR FY26; Q4 FY26 consolidated financial results (statement + NSE XBRL)
06 · What it needs to run
What does Saksoft need to run?
Engineers
The FY26 annual report gives a workforce of about 2,600 professionals. Staff took ₹49.8 of every ₹100 that came in.
Billable time
83% of technical staff time was billed to clients in FY26 (utilisation), versus 85% in FY25.
Delivery centres
The FY26 annual report lists 10 development centres. Five offices are in India, per its BRSR.
Subcontractors
Outside firms and contractors cost ₹263 crore in FY26, down from ₹268 crore in FY25.
Acquired skills
Bought firms bring skills and clients. Goodwill from these deals was ₹518 crore on 31 Mar 2026.
Source: Annual Report FY26 (27th), incl. BRSR FY26; Earnings presentation Q1 FY27
07 · Why it makes money
Why does Saksoft make money?
It sells engineers' time; profit depends on keeping them busy and doing more work from India
Staff and subcontractors took ₹75 of every ₹100 that came in during FY26. CARE says Saksoft is moving more work offshore to control staff costs. EBITDA (profit before interest, tax and depreciation) per ₹100 of revenue rose from ₹16.4 in FY22 to ₹18.1 in FY26.
EBITDA per ₹100 of revenue
₹16.4₹18.1
FY22 to FY26
- Wins a mid-sized client in the US, Europe or Asia
- Builds software, often on a first one-year contract
- Keeps supporting the software, which brings repeat work
- Moves more of the work offshore to control staff costs
- Buys small firms to add skills, then sells them to existing clients
- Uses the cash to fund the next acquisition
↺ Step 6 feeds back into step 1.
Source: Annual Report FY23; Annual Report FY26 (27th), incl. BRSR FY26
08 · Business segments · FY26
Which businesses make up Saksoft?
Emerging verticals
46%Hi-tech, media, telecom and utility clients. Segment result (before depreciation, interest and tax) was ₹81.8 crore in FY26.
Revenue ₹466 cr
Banking and financial services
31%Banks and financial firms, Saksoft's original market. Segment result was ₹59.4 crore in FY26.
Revenue ₹313 cr
Logistics
14%Transport and logistics clients. Segment result was ₹37.0 crore, 26.2% of segment revenue in FY26.
Revenue ₹141 cr
Commerce
9%E-commerce and retail clients. Revenue fell 8% in FY26; segment result was ₹8.9 crore.
Revenue ₹87.7 cr
How the mix changed
- Emerging verticals
- Banking and financial services
- Logistics
- Commerce
Revenue by segment, FY24 to FY26.
₹ crore · Source: Annual Report FY25 (26th); Annual Report FY26 (27th), incl. BRSR FY26
See the numbers
Source: Annual Report FY26 (27th), incl. BRSR FY26; CARE Ratings press release: CARE A; Stable / CARE A1 reaffirmed
09 · Where it sells · FY26
Where does Saksoft sell?
- USA50%
- Europe29%
- Asia-Pacific and others21%
10 · Competitors and what protects it
Who does Saksoft compete with?
Kellton Tech Solutions Ltd
NSE: KELLTONTEC
Hyderabad-based digital transformation services firm with clients in North America, Europe and Asia; FY26 revenue ₹1,217 crore.
R Systems International Ltd
NSE: RSYSTEMS
Product engineering services for tech, BFSI, telecom-media and logistics clients; revenue ₹1,958 crore in the year to Dec 2025.
Mastek Ltd
NSE: MASTEK
Digital engineering and cloud services, mainly for UK and US clients, including financial services; FY26 revenue ₹3,699 crore.
Ksolves India Ltd
NSE: KSOLVES
Salesforce, data and ERP software services for clients in 30+ countries; FY26 revenue ₹163 crore.
What protects the business
Each strength is scored 1 (weak) to 5 (strong) for the business, with the reason. It is not a rating of the share.
- Repeat business3 of 5
CARE says Saksoft keeps supporting software after a first one-year contract. Two clients have each paid 10%+ of revenue every year since FY21.
- Offshore delivery3 of 5
Offshore teams delivered 56% of FY26 revenue and 57% in Q1 FY27, up from 55% in FY24.
- Scale2 of 5
FY26 revenue was ₹1,007 crore. CARE says the industry is dominated by large multinational companies.
- Platform partnerships2 of 5
Salesforce and ServiceNow skills arrived with the Ceptes and Zetechno acquisitions in FY25.
Weak spot
Dependence on a few clients
The top 20 clients paid 70% of FY26 revenue and the top five 42%. In Aug 2026 the chairman said some top clients face near-term pressures.
Source: Kellton Tech Solutions Ltd (KELLTONTEC) Annual Report FY26 (competitor evidence); R Systems International Ltd (RSYSTEMS) Annual Report for the year ended 31 Dec 2025 (competitor evidence); Mastek Ltd (MASTEK) Annual Report FY26 (competitor evidence) and 8 more
11 · Where growth could come from
Where could Saksoft's growth come from?
On 10 Aug 2026 management said it was holding FY27 revenue guidance of ₹1,200–1,250 crore for now. It said it would restate it after Q2 if needed. FY26 revenue was ₹1,007 crore. The FY26 annual report states a Vision 2030 goal of US$500 million in revenue. On 3 Feb 2026 management called that goal "aspirational".
Revenue growth versus FY27 guidance
BehindQ1 FY27 revenue −0.2% year on year
On 10 Aug 2026 management described the guidance as "about a 25% growth". ₹1,200–1,250 crore is 19% to 24% above FY26 revenue of ₹1,007 crore.
Status: Behind, behind the company's own plan.
Acquisitions
WorkingAbout ₹115 crore revenue added, FY25 (CARE)
CARE says Augmento Labs, Ceptes and Zetechno cost ₹164.5 crore in total in FY25. On 11 Nov 2025 management said it expects one big or two large deals on the way to US$500 million.
Status: Working, on track against what the company said.
Logistics and commerce clients
MixedLogistics +16.9%, Q1 FY27
In Q1 FY27 logistics revenue rose 16.9% and commerce 20.1% from a year earlier. Banking fell 5.0% and emerging verticals 5.3%.
Status: Mixed, partly on track.
More work from India
WorkingOffshore share 57%, Q1 FY27
The offshore share of revenue rose from 55% in FY24 to 57% in Q1 FY27. CARE says the shift helps control staff costs.
Status: Working, on track against what the company said.
New US leadership
NewUS CEO joined 12 Oct 2026
Gurmeet Chahal became CEO of Saksoft Inc., the US subsidiary, on 12 Oct 2026. A Chief Growth Officer for North America was appointed in Oct 2025.
Status: New, recently announced.
Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.
Source: Earnings call transcript Q1 FY27 (call held 2026-08-10); Annual Report FY26 (27th), incl. BRSR FY26; Earnings call transcript Q3 FY26 (call held 2026-02-03) and 7 more
12 · The numbers · Consolidated · ₹ crore
How has Saksoft done?
Revenue
₹1,007 crFY26
Revenue rose every year from ₹480 crore (FY22) to ₹1,007 crore (FY26); quarterly revenue has fallen slightly since Q2 FY26.
₹ crore · Source: Annual Report FY23; Annual Report FY22; Annual Report FY24 and 14 more
See the numbers
Net profit
₹133 crFY26
Net profit rose every year to ₹133 crore in FY26; EPS for FY22–FY23 and quarters before Q2 FY25 is pre-bonus.
₹ crore · Source: Annual Report FY23; Annual Report FY22; Annual Report FY24 and 2 more
See the numbers
Profit kept per ₹100 of revenue
₹13.2FY26
EBITDA per ₹100 of revenue ranged from ₹16.2 to ₹18.1 over FY22–FY26, and was highest in FY26.
₹ of profit per ₹100 of revenue (net margin) · Source: Annual Report FY23; Annual Report FY22; Annual Report FY24 and 2 more
See the numbers
Free cash flow
₹167 crFY26
Free cash flow (cash left after equipment spending) rose from ₹50.5 crore (FY22) to ₹167 crore (FY26), dipping in FY25.
₹ crore · cash from operations minus spending on plants and equipment · Source: Annual Report FY23; Annual Report FY22; Annual Report FY24 and 2 more
See the numbers
See all yearly numbers
EBITDA = profit before interest, tax and wear-and-tear of assets. Financial year runs April to March (March year end). Net profit is the share belonging to the company's owners.
13 · Financial strength · 31 Mar 2026
How much debt does Saksoft have?
- Total debt₹29.2 cr
- Cash and investments₹251 cr
- Net cash (cash minus debt)₹222 cr
- Net worth (shareholders' money)₹779 cr
- Debt to equity
- 0.04×
- ₹ of debt for every ₹1 of shareholders' money
- Interest cover
- 20×
- how many times operating profit covers interest
- Contingent liabilities
- ₹6.7 cr
- possible future payments, e.g. disputed claims
- Debt here means bank borrowings: one unsecured term loan repayable by Dec 2028. Lease liabilities were a further ₹14.5 crore.
- Saksoft still owed ₹46.7 crore of earn-outs to sellers of companies it bought. Earn-outs are later payments linked to performance.
- Goodwill from acquisitions was ₹518 crore, 48% of total assets of ₹1,077 crore.
- Promoter company Sak Industries Pvt Ltd lent Saksoft ₹20 crore in FY25. The loan was repaid in FY26.
- Cash = cash and bank deposits; no mutual funds were held on 31 Mar 2026. Interest cover = EBITDA ÷ finance costs. Contingent liabilities are disputed income-tax claims.
- EBITDA on this page is after the ₹4.9 crore FY26 Labour Code charge. The company's own 'Operating EBITDA' of ₹187.1 crore leaves it out.
- Free cash flow here leaves out payments for acquisitions: ₹150 crore in FY25 and ₹77.0 crore in FY26.
- All figures are consolidated. Saksoft's own (standalone) revenue was ₹493 crore of the ₹1,007 crore group total in FY26.
14 · Who owns it · Q2 FY27
Who owns Saksoft?
- Promoters (founders or parent company)66.7%
- Foreign institutions (FII)1.5%
- Indian institutions (DII)0.0%
- Public and others31.8%
Promoter pledge
No promoter shares were pledged in Q2 FY27.
How ownership changed
* Pledged = share of the promoters' own holding reported as pledged. In older filings this can include shares “otherwise encumbered”; the governance flags say when.
Source: Shareholding pattern, Sep 2026 (Reg. 31, NSE XBRL); Shareholding pattern, Jun 2026 (Reg. 31, NSE XBRL); Shareholding pattern, Mar 2026 (Reg. 31, NSE XBRL) and 9 more
15 · What it does with profit
What does Saksoft do with its profit?
Dividend per share
₹1.00FY26
Dividend paid for each share, by financial year.
₹ per share · Source: Annual Report FY24; Annual Report FY25 (26th); Annual Report FY26 (27th), incl. BRSR FY26 and 2 more
See the numbers
No buybacks or fund raises in the period covered.
16 · Who runs it
Who runs Saksoft, and did they deliver?
Aditya Krishna
Chairman & Managing Director · since 1999
Founded Saksoft in 1999. Re-appointed for five years from 1 Apr 2026 to 31 Mar 2031.
Niraj Kumar Ganeriwal
Chief Operating Officer & Chief Financial Officer
In this role since at least FY22. He is also the 'chief operating decision maker' for segment reporting.
Avantika Krishna
Whole-time Director · since 2026
Whole-time director from 25 May 2026; earlier Chief Sales Officer. The FY26 annual report lists her as a relative of key managers.
Gurmeet Chahal
CEO, Saksoft Inc. (US subsidiary) · since 2026
Joined on 12 Oct 2026. Previously founding CEO of Digitide and a Genpact executive.
What they said, and what happened
1 delivered · 3 too early to tell
Said on 27 May 2025
Revenue of ₹1,000–1,100 crore in FY26.
DeliveredWhat happened
FY26 revenue was ₹1,007 crore, at the bottom of the range. The range was repeated on 11 Nov 2025.
Said on 3 Feb 2026
Keep EBITDA margin between 18% and 20%.
Too early to tellWhat happened
EBITDA margin was 18.2% in Q4 FY26 and 18.3% in Q1 FY27.
Said on 10 Aug 2026
FY27 revenue of ₹1,200–1,250 crore, held on 10 Aug 2026 and to be restated after Q2 if needed.
Too early to tellWhat happened
Q1 FY27 revenue was ₹249 crore, 0.2% lower than a year earlier.
Said on 27 May 2025
Reach US$500 million of revenue by 2030 (Vision 2030). The team is committed to it, management said.
Too early to tellWhat happened
On 3 Feb 2026 management called the goal "aspirational". FY26 revenue was ₹1,007 crore.
Source: Re-appointment of Aditya Krishna as Chairman & MD for 5 years from 1 Apr 2026; CARE Ratings press release: CARE A; Stable / CARE A1 reaffirmed; Annual Report FY22 and 9 more
17 · Governance signals
What do Saksoft's governance filings show?
- Auditor
- R.G.N. Price & Co., since 2017
- Auditor changes
- None in the period covered
- Audit qualifications
- None reported
- Related-party dealings
- Promoter company Sak Industries Pvt Ltd lent Saksoft ₹20 crore in FY25, repaid in FY26. Saksoft also leases premises from Sak Industries. The FY26 annual report lists four relatives of key managers: one director and three employees.
- Credit rating
- CARE Ratings CARE A+ (long term) / CARE A1 (short term) (Stable), 28 Sep 2026
A credit rating describes the company's ability to repay debt. It is not a rating of the share.
Flags to know about
related party · 31 Mar 2026
Loan and lease from the promoter company
Sak Industries Pvt Ltd, which held 45.72% of Saksoft, lent it ₹20 crore in FY25. The loan was repaid in FY26. Saksoft also leases premises from it.
other · 15 Oct 2026
Share options proposed for the new US chief executive
A postal ballot seeks approval to grant up to 66,27,562 options to the Saksoft Inc. CEO, 5% of fully diluted share capital. E-voting runs from 16 Oct to 14 Nov 2026. Shares for exercised options would come from the employee welfare trust.
other · 12 Oct 2026
Senior management changes
The e-commerce business head resigned from 12 Dec 2025 and the Chief Delivery Officer from 31 Mar 2026. A new Saksoft Inc. CEO joined on 12 Oct 2026.
auditor
Auditor's second term ends in 2027
R.G.N. Price & Co. was first appointed in 2017 and re-appointed in 2022 for five years. The term ends at the AGM for FY2026-27.
Source: Annual Report FY22; Annual Report FY26 (27th), incl. BRSR FY26; CARE Ratings press release: CARE A; Stable / CARE A1 reaffirmed and 5 more
18 · What the market paid · price as of 30 Jun 2026
What did the market pay for Saksoft on 30 Jun 2026?
Price as of 30 Jun 2026 (shown for education; prices change daily).
Price as of 30 Jun 2026 (data at least 3 months old, shown for education): ₹206.71 on NSE. That gave a market value of ₹2,740 crore. P/E is the share price divided by one year's profit per share (FY26: ₹10.42). P/B here is market value divided by FY26 shareholders' equity of ₹779 crore. EV/EBITDA adds debt and leases to market value, subtracts cash, and divides by FY26 EBITDA of ₹182 crore.
- Share price
- ₹206.71
- Market value (market cap)
- ₹2,740 cr
- P/E
- 19.8×
- P/B
- 3.5×
- EV/EBITDA
- 13.9×
Source: NSE equity bhavcopy (sec_bhavdata_full), 30 Jun 2026: SAKSOFT close; Shareholding pattern, Jun 2026 (Reg. 31, NSE XBRL); Annual Report FY26 (27th), incl. BRSR FY26
19 · What could go wrong
What could go wrong for Saksoft?
- Concentration
A few clients bring in much of the revenue
The top five clients paid 42% of FY26 revenue, and two of them paid 10% or more each. In Aug 2026 the chairman said some top clients face near-term pressures.
Watch Top-5 and top-10 client shares in each quarterly presentation.
- Demand
Quarterly revenue has fallen since Q2 FY26
Revenue rose 3.8% to ₹259 crore in Q2 FY26, then fell for three quarters, to ₹249 crore. The chairman cited demand softness from around Q3 FY26.
Watch Q2 FY27 revenue, and whether management restates the ₹1,200–1,250 crore FY27 guidance it held on 10 Aug 2026.
- Execution
Acquisitions and goodwill
Goodwill from acquisitions was ₹518 crore, 48% of total assets, on 31 Mar 2026. Goodwill is tested every year; a write-down would cut profit.
Watch Goodwill notes in the FY27 annual report, and revenue from acquired firms.
- Currency
Currency swings
CARE says most revenue is in US dollars or British pounds, so rupee moves change revenue and margins. Saksoft hedges up to 50% of receivables for 12 months ahead.
Watch Rupee against the dollar and pound, and EBITDA margin each quarter.
- Technology
Competition and AI
CARE describes intense competition, low entry barriers and fast technology change. It says AI-driven disruption has affected IT spending.
Watch Utilisation and the number of clients paying over US$1 million a year.
- Other
Staff costs and attrition
Staff took ₹49.8 of every ₹100 that came in during FY26. CARE names attrition, skill shortages and wage inflation as key challenges for IT firms.
Watch Employee cost per ₹100 of revenue and headcount in each presentation.
- Execution
Leadership changes
The Chief Delivery Officer and the e-commerce business head resigned between Dec 2025 and Mar 2026. A new US subsidiary CEO joined in Oct 2026.
Watch Further senior resignations or appointments filed with the exchanges.
Source: Annual Report FY26 (27th), incl. BRSR FY26; Earnings presentation Q1 FY27; Q1 FY27 consolidated financial results (statement + NSE XBRL) and 8 more
20 · How it got here
How did Saksoft get here?
1999
Milestone
Founded in Chennai
Autar Krishna and his son Aditya Krishna set up Saksoft, first serving banks and financial firms.
2005
Milestone
Lists on NSE
Saksoft's shares started trading on the National Stock Exchange.
2006
Business-model change
Buys Acuma in the UK
Bought Acuma, a UK company. Acuma Solutions is still one of its UK subsidiaries.
2014
Business-model change
Enters software testing
Bought ThreeSixty Logica to add testing and quality checks.
2016
Business-model change
Enters logistics
Bought DreamOrbit, adding logistics, transport and connected-device (IoT) work.
2017
Business-model change
Organises by industry
Became a service provider focused on chosen industry verticals.
2023
Business-model change
Adds a commerce vertical
Subsidiaries bought Solveda, an e-commerce software firm with about 200 staff, in Aug 2023.
2024
Business-model change
Three deals in seven months
Bought Augmento Labs (Jun 2024), Ceptes (Oct 2024) and Zetechno (Jan 2025) for ₹164.5 crore in total, per CARE.
2024
Milestone
Bonus issue
Gave shareholders one free share for every four held. Shares rose from 10.6 crore to 13.3 crore.
2026
Milestone
Revenue passes ₹1,000 crore
FY26 revenue reached ₹1,007 crore. CARE upgraded its long-term rating to CARE A+ in Sep 2026.
Source: CARE Ratings press release: CARE A; Stable / CARE A1 reaffirmed; Annual Report FY25 (26th); Annual Report FY26 (27th), incl. BRSR FY26 and 8 more
21 · Both sides
What do supporters and critics point to?
What supporters point to
- Revenue grew every year from FY22 to FY26, from ₹480 crore to ₹1,007 crore.
- Cash and deposits exceeded borrowings by ₹222 crore on 31 Mar 2026.
- Cash from operations was higher than net profit in each year from FY22 to FY26.
- CARE upgraded Saksoft's long-term rating to CARE A+ (Stable) on 28 Sep 2026.
- No promoter shares were pledged in any of the 12 quarters to Sep 2026.
What critics point to
- Revenue was ₹248–259 crore in each of the five quarters to Jun 2026.
- Two customers each paid 10% or more of revenue in every year from FY21 to FY26.
- Goodwill from acquisitions was ₹518 crore, 48% of total assets, on 31 Mar 2026.
- Part of the growth was bought: CARE estimates acquisitions added about ₹115 crore of FY25 revenue.
- The Chief Delivery Officer and the e-commerce business head resigned between Dec 2025 and Mar 2026.
22 · What to watch next
What should you watch next at Saksoft?
Next event
Q2 FY27 results (expected; last year's Q2 board meeting was on 10 Nov 2025)
10 Nov 2026
Expected, based on last year's date
Revenue against FY27 guidance
On 10 Aug 2026 management held FY27 guidance at ₹1,200–1,250 crore. It said it may restate it after Q2.
Postal ballot result
Voting on share options for the Saksoft Inc. CEO ends on 14 Nov 2026. The result is due by 17 Nov 2026.
Top clients
The chairman said some top clients face near-term pressures. Watch the top-5 and top-10 client shares in the Q2 presentation.
23 · Key facts
Key facts about Saksoft
- What does Saksoft do?
- Saksoft Ltd is a Chennai-based IT services company. It builds, tests and maintains custom software, and does data, cloud and security work. It targets clients with annual revenue of US$100 million to US$3 billion.
- How does Saksoft make money?
- Saksoft earns fees for software projects and for supporting that software afterwards. CARE says most revenue is billed in US dollars or British pounds. In FY26 Saksoft kept ₹13.0 of every ₹100 that came in as profit.
- Who are Saksoft's customers?
- In FY26 Saksoft earned 46.3% of revenue from hi-tech, media, telecom and utility clients. Banking and financial services clients paid 31.0%. Logistics clients paid 14.0% and commerce clients 8.7%. Two unnamed customers each paid 10% or more.
- How big is Saksoft?
- Saksoft reported consolidated revenue of ₹1,007 crore and net profit of ₹133 crore in FY26 (April 2025 to March 2026). Figures are consolidated because subsidiaries in the US, UK, Singapore and India earn much of the revenue.
- Who owns Saksoft?
- On 30 Sep 2026 the Saksoft promoter group owned 66.72%, with no shares pledged. Promoter company Sak Industries Pvt Ltd alone held 45.72%. Foreign investors held 1.46%, an employee welfare trust 2.84%, and individuals and others 28.97%.
- How has Saksoft grown?
- Saksoft's revenue grew from ₹480 crore in FY22 to ₹1,007 crore in FY26. Part of the growth was bought: CARE estimates acquired companies added about ₹115 crore of revenue in FY25.
- How did Saksoft do in Q1 FY27?
- In Q1 FY27 (April to June 2026), Saksoft's revenue was ₹249 crore, 0.2% lower than in Q1 FY26. Net profit fell 9.4% to ₹29.3 crore.
- How much debt does Saksoft have?
- On 31 Mar 2026 Saksoft had bank borrowings of ₹29.2 crore and cash and bank deposits of ₹251 crore. It still owed ₹46.7 crore to sellers of companies it had bought.
- Does Saksoft pay a dividend?
- For FY26 Saksoft declared an interim dividend of ₹0.45 per share in Nov 2025. Its board recommended a ₹0.55 final dividend, subject to the 7 Aug 2026 AGM. Saksoft paid ₹0.80 per share for FY25.
Source: Earnings presentation Q1 FY27; Annual Report FY26 (27th), incl. BRSR FY26; CARE Ratings press release: CARE A; Stable / CARE A1 reaffirmed and 7 more
Terms on this page
- Capital expenditure (capex)
- Credit rating
- Customer concentration
- Dividend payout ratio
- EBITDA
- FII and DII holding
- Free cash flow
- Net debt
- Net profit
- Operating margin
Each explains the term in plain English, with the same number from other companies on Cityfort.
24 · Sources and changes
Where every number on this page comes from
Sources (57 documents)
- S1Annual Report FY26 (27th), incl. BRSR FY26 · Company (filed with NSE 16 Jul 2026) · Tier 1: company or exchange filing · 16 Jul 2026
- S2Annual Report FY25 (26th) · Company (filed with NSE 16 Jul 2025) · Tier 1: company or exchange filing · 16 Jul 2025
- S3Annual Report FY24 · Company (filed with NSE 15 Jul 2024) · Tier 1: company or exchange filing · 15 Jul 2024
- S4Annual Report FY23 · Company (filed with NSE 21 Jul 2023) · Tier 1: company or exchange filing · 21 Jul 2023
- S5Annual Report FY22 · Company (filed with NSE 18 Jul 2022) · Tier 1: company or exchange filing · 18 Jul 2022
- S6Q1 FY27 consolidated financial results (statement + NSE XBRL) · Company / NSE · Tier 1: company or exchange filing · 7 Aug 2026
- S7Q4 FY26 consolidated financial results (statement + NSE XBRL) · Company / NSE · Tier 1: company or exchange filing · 25 May 2026
- S8Q3 FY26 consolidated financial results (statement + NSE XBRL) · Company / NSE · Tier 1: company or exchange filing · 2 Feb 2026
- S9Q2 FY26 consolidated financial results (statement + NSE XBRL) · Company / NSE · Tier 1: company or exchange filing · 10 Nov 2025
- S10Q1 FY26 consolidated financial results (statement + NSE XBRL) · Company / NSE · Tier 1: company or exchange filing · 8 Aug 2025
- S11Q4 FY25 consolidated financial results (statement + NSE XBRL) · Company / NSE · Tier 1: company or exchange filing · 26 May 2025
- S12Q3 FY25 consolidated financial results (statement + NSE XBRL) · Company / NSE · Tier 1: company or exchange filing · 3 Feb 2025
- S13Q2 FY25 consolidated financial results (statement + NSE XBRL) · Company / NSE · Tier 1: company or exchange filing · 11 Nov 2024
- S14Q1 FY25 consolidated financial results (statement + NSE XBRL) · Company / NSE · Tier 1: company or exchange filing · 7 Aug 2024
- S15Q4 FY24 consolidated financial results (statement + NSE XBRL) · Company / NSE · Tier 1: company or exchange filing · 27 May 2024
- S16Q3 FY24 consolidated financial results (statement + NSE XBRL) · Company / NSE · Tier 1: company or exchange filing · 8 Feb 2024
- S17Q2 FY24 consolidated financial results (statement + NSE XBRL) · Company / NSE · Tier 1: company or exchange filing · 7 Nov 2023
- S19Earnings presentation Q1 FY27 · Company (NSE filing) · Tier 1: company or exchange filing · 8 Aug 2026
- S23Earnings call transcript Q1 FY27 (call held 2026-08-10) · Company (NSE filing) · Tier 1: company or exchange filing · 17 Aug 2026
- S25Earnings call transcript Q3 FY26 (call held 2026-02-03) · Company (NSE filing) · Tier 1: company or exchange filing · 10 Feb 2026
- S26Earnings call transcript Q2 FY26 (call held 2025-11-11) · Company (NSE filing) · Tier 1: company or exchange filing · 18 Nov 2025
- S28Earnings call transcript Q4 FY25 (call held 2025-05-27) · Company (NSE filing) · Tier 1: company or exchange filing · 30 May 2025
- S29Shareholding pattern, Dec 2023 (Reg. 31, NSE XBRL) · NSE · Tier 1: company or exchange filing · 16 Jan 2024
- S30Shareholding pattern, Mar 2024 (Reg. 31, NSE XBRL) · NSE · Tier 1: company or exchange filing · 16 Apr 2024
- S31Shareholding pattern, Jun 2024 (Reg. 31, NSE XBRL) · NSE · Tier 1: company or exchange filing · 19 Jul 2024
- S32Shareholding pattern, Sep 2024 (Reg. 31, NSE XBRL) · NSE · Tier 1: company or exchange filing · 18 Oct 2024
- S33Shareholding pattern, Dec 2024 (Reg. 31, NSE XBRL) · NSE · Tier 1: company or exchange filing · 21 Jan 2025
- S34Shareholding pattern, Mar 2025 (Reg. 31, NSE XBRL) · NSE · Tier 1: company or exchange filing · 17 Apr 2025
- S35Shareholding pattern, Jun 2025 (Reg. 31, NSE XBRL) · NSE · Tier 1: company or exchange filing · 19 Jul 2025
- S36Shareholding pattern, Sep 2025 (Reg. 31, NSE XBRL) · NSE · Tier 1: company or exchange filing · 22 Oct 2025
- S37Shareholding pattern, Dec 2025 (Reg. 31, NSE XBRL) · NSE · Tier 1: company or exchange filing · 19 Jan 2026
- S38Shareholding pattern, Mar 2026 (Reg. 31, NSE XBRL) · NSE · Tier 1: company or exchange filing · 16 Apr 2026
- S39Shareholding pattern, Jun 2026 (Reg. 31, NSE XBRL) · NSE · Tier 1: company or exchange filing · 17 Jul 2026
- S40Shareholding pattern, Sep 2026 (Reg. 31, NSE XBRL) · NSE · Tier 1: company or exchange filing · 19 Oct 2026
- S41CARE Ratings press release: CARE A; Stable / CARE A1 reaffirmed · CARE Ratings · Tier 2: rating agency or regulator · 26 Sep 2025
- S44Intimation: CARE upgrade to CARE A+; Stable (long term, Rs 40 cr) and CARE A1 reaffirmed (short term, Rs 3 cr); CARE letter dated 28 Sep 2026 · Company (NSE filing) · Tier 1: company or exchange filing · 28 Sep 2026
- S46Augmento Labs acquisition completed · Company (NSE filing) · Tier 1: company or exchange filing · 26 Jun 2024
- S47Ceptes Software share purchase agreement (Reg. 30): up to Rs 61.50 cr, up to Rs 31.05 cr upfront, rest as earn-out over 24 months · Company (NSE filing) · Tier 1: company or exchange filing · 27 Sep 2024
- S48Zetechno share purchase agreement (Reg. 30): about Rs 2.59 cr · Company (NSE filing) · Tier 1: company or exchange filing · 21 Dec 2024
- S49Zetechno acquisition completed; closing consideration Rs 3 cr · Company (NSE filing) · Tier 1: company or exchange filing · 30 Jan 2025
- S50Solveda (India and US) acquisition completed by subsidiaries · Company (NSE filing) · Tier 1: company or exchange filing · 11 Aug 2023
- S57Board outcome: Q1 FY25 results and bonus issue of 1 share for every 4 held · Company (NSE filing) · Tier 1: company or exchange filing · 7 Aug 2024
- S58Re-appointment of Aditya Krishna as Chairman & MD for 5 years from 1 Apr 2026 · Company (NSE filing) · Tier 1: company or exchange filing · 12 Aug 2025
- S60Board outcome: Gurmeet Chahal appointed CEO of Saksoft Inc. (US) from 12 Oct 2026 · Company (NSE filing) · Tier 1: company or exchange filing · 28 Sep 2026
- S61Postal ballot notice (14 Oct 2026): ESOP 2009 amendments; grant of up to 66,27,562 options (5% of fully diluted capital) to the Saksoft Inc. CEO; e-voting ends 14 Nov 2026 · Company (NSE filing) · Tier 1: company or exchange filing · 15 Oct 2026
- S62AGM notice FY26 · Company (NSE filing) · Tier 1: company or exchange filing · 16 Jul 2026
- S63Board outcome 25 May 2026: FY26 results; final dividend Rs 0.55/share recommended (interim Rs 0.45 declared Nov 2025) · Company (NSE filing) · Tier 1: company or exchange filing · 25 May 2026
- S64Board outcome 10 Nov 2025: Q2 FY26 results; interim dividend Rs 0.45/share · Company (NSE filing) · Tier 1: company or exchange filing · 10 Nov 2025
- S65Change in management (25 May 2026) · Company (NSE filing) · Tier 1: company or exchange filing · 25 May 2026
- S67Resignation of Business Unit Head, E-commerce (senior management), tendered 9 Dec 2025 (effective date not stated; 12 Dec 2025 per FY26 AR, S1 PDF p.43) · Company (NSE filing) · Tier 1: company or exchange filing · 9 Dec 2025
- S68Resignation of Chief Delivery Officer (senior management), tendered 26 Dec 2025 (effective date not stated; 31 Mar 2026 per FY26 AR, S1 PDF p.43) · Company (NSE filing) · Tier 1: company or exchange filing · 26 Dec 2025
- S69Appointment of Chief Growth Officer, North America (Saksoft Inc.) · Company (NSE filing) · Tier 1: company or exchange filing · 13 Oct 2025
- S71NSE equity bhavcopy (sec_bhavdata_full), 30 Jun 2026: SAKSOFT close · NSE · Tier 1: company or exchange filing · 30 Jun 2026
- S72Kellton Tech Solutions Ltd (KELLTONTEC) Annual Report FY26 (competitor evidence) · Kellton Tech Solutions Ltd (NSE filing) · Tier 1: company or exchange filing · 8 Sep 2026
- S73Mastek Ltd (MASTEK) Annual Report FY26 (competitor evidence) · Mastek Ltd (NSE filing) · Tier 1: company or exchange filing · 14 Aug 2026
- S74R Systems International Ltd (RSYSTEMS) Annual Report for the year ended 31 Dec 2025 (competitor evidence) · R Systems International Ltd (NSE filing) · Tier 1: company or exchange filing · 29 May 2026
- S75Ksolves India Ltd (KSOLVES) Annual Report FY26 (competitor evidence) · Ksolves India Ltd (NSE filing) · Tier 1: company or exchange filing · 4 Sep 2026
Changes to this page (v1 · 25 Oct 2026)
- v1 · 25 Oct 2026First version. (first version)
Numbers come only from tier 1 and tier 2 sources. Read how we research.
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