TickerSutra

NSE: STYL · BSE: 544533 · ISIN INE04VU01023

Seshaasai Technologies Limited stock analysis

Seshaasai Technologies Limited ranks #63 in the TickerSutra evidence-ranked universe with a score of 75/100 and 87% data confidence. The latest captured fundamentals show ROCE of 28.0%, quarterly sales growth of 21.0% and quarterly profit growth of 68.3%.
Complete evidence gate pass governance reviewUpdated 29 Sept 2026
TICKERSUTRA SCORE75/100

Watchlist candidate

#63 of 5,430 ranked equities
Market capitalisation₹6,217.36cr
ROCE28.0%
Quarterly sales growth21.0%
Quarterly profit growth68.3%
P/E ratio23.1×
Promoter pledge0.0%

INVESTMENT EVIDENCE

What supports—and challenges—the thesis

Evidence in favour

  • ROCE is 28%
  • Low debt/equity of 0.06×
  • Institutional ownership is rising
  • CWIP indicates an active capacity pipeline
  • No promoter shares are reported as pledged

Risks and constraints

  • CFO/EBITDA is below 0.6×

Still unresolved: Related-party exposure · Broad media sentiment

FINANCIAL TRAJECTORY

Recent operating history

PeriodRevenueOperating profitNet profitOperating margin
2022₹673cr₹102cr₹37cr15.0%
2023₹1,146cr₹199cr₹107cr17.0%
2024₹1,558cr₹292cr₹169cr19.0%
2025₹1,462cr₹361cr₹222cr25.0%
2026₹1,441cr₹383cr₹244cr27.0%
TTM₹1,506cr₹401cr₹269cr27.0%
Debt / equity0.06×
CFO / EBITDA0.59×
Operating margin27.0%
Free cash flow₹61cr
Sales CAGR · 3Y7.9%
Profit CAGR · 3Y31.6%

EXCHANGE EVENT TRIGGERS

Latest corporate disclosures

0 positive catalysts0 negative catalysts8 routine filings

MANAGEMENT COMMENTARY

Signals from filed documents

Regulatory updatesHigh severity · 2 mentions
Constructive

We would like to update that our Nagpur and Bengaluru facilities are still under construction. We expect the Bengaluru facility to be operational by the end of the calendar year after the necessary regulatory approvals. In this quarter, we won two multi -year tenders from leading PSU banks, which represent approximately INR 73 crores in revenue over the tender period.

Regulatory approvalHigh severity · 1 mention
Positive catalyst

We would like to update that our Nagpur and Bengaluru facilities are still under construction. We expect the Bengaluru facility to be operational by the end of the calendar year after the necessary regulatory approvals. In this quarter, we won two multi -year tenders from leading PSU banks, which represent approximately INR 73 crores in revenue over the tender period.

Margin expansionHigh severity · 1 mention
Positive catalyst

So, other things being equal, what we feel is that , as the quarters go by and more of operating leverage kicks in and product mix plays out as per what visibility we have now. We feel there should be a margin improvement as we go along, but we don't see any dramatic change in the margin from where we are now. The current macroeconomic situation , as you know is very uncertain, but assuming that nothing untoward happ

Management confidenceHigh severity · 1 mention
Constructive

To summarize, Q1 FY27 was a strong start to the year with healthy performance across all three verticals. While global uncertainties remain, we are confident in the strength of our diversified revenue mix, recurring business base, strong customer relations hips, and focus on future-ready technologies. These strengths support our medium -term target of delivering revenue growth of 8% to 12%.

Operating leverageModerate severity · 10 mentions
Positive catalyst

So, from here on , we see the H2 , as I said , is going to be better than H1. That is going to definitely help us in our operating leverage. Typically, that part of the year has better product mix for us compared to the H1, which will again aid to us for the improving margins.

Capacity expansion plansModerate severity · 3 mentions
Positive catalyst

This category not only offers us superior margins but also strengthens our position in the high-value card issuance market. We continue to expand our manufacturing capabilities to meet the growing demand for our metal cards , with the capacity expansion underway at our Bengaluru facility. We are well-positioned to support both domestic and international opportunities in this space.

HOW TO READ THIS PAGE

Evidence, freshness and limitations

What does the TickerSutra score mean?

The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.

Which sources support this page?

Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.

Why can an item be unresolved?

Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.

Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer

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