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Swing Capital

Kellton Tech Solutions Ltd

NSE: KELLTONTEC BSE: 519602IT / Software

Kellton Tech Solutions Ltd offers services in digital transformation, ERP and other IT services. It has operations across US, Europe, India and Asia-Pacific with a team of ~1,800 employees.[1]

₹14.6
52W: ₹13 — ₹33.2
PE 57 · Book ₹5.44 · +168% vs book
Market Cap₹775 Cr
Stock P/E57Price to Earnings
ROCE10.9%Return on Capital
ROE7.94%Return on Equity
Div. Yield0%Face Value ₹1

Weaknesses

  • −Stock is trading at 2.69 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has a low return on equity of 6.95% over last 3 years.
  • −Company has high debtors of 150 days.
  • −Promoter holding has decreased over last 3 years: -14.5%

Shareholding Pattern

Promoters37.67%
FIIs1.04%
DIIs0%
Public61.3%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters51.68%40.82%▼10.940.82%40.82%40.78%▼0.038.7%▼2.137.67%▼1.037.67%
FIIs0.46%1.32%▲0.91.43%▲0.11.07%▼0.41.27%▲0.20.96%▼0.31.21%▲0.31.04%▼0.2
DIIs0%0%0%0%0%0%0%0%
Public47.87%57.86%▲10.057.75%▼0.158.11%▲0.457.94%▼0.260.34%▲2.461.12%▲0.861.3%▲0.2

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales41.6846.3153.146.749.0547.3545.8452.9851.1649.89
Expenses34.7540.3745.7138.6940.7139.3737.2146.0443.3441.78
Operating Profit6.935.947.398.018.347.988.636.947.828.11
OPM %16.63%12.83%13.92%17.15%17%16.85%18.83%13.1%15.29%16.26%
Net Profit2.791.642.43.363.553.43.212.774.053.59
EPS ₹0.060.030.050.070.070.070.070.060.080.07

AI Insights

Revenue Trend

TTM revenue at ₹200Cr, up 5.8% YoY. OPM at 16%.

Debt Position

Borrowings at ₹66Cr. Debt-to-equity ratio: 0.28x. Healthy balance sheet.

Capex Cycle

CWIP at ₹35Cr (140% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 1.04% (+0.97pp change). Promoters hold 37.67%.

Margin & Efficiency

ROCE declining from 16% (Jun 2014) to 11% (Mar 2025). Working capital days: 138.

Valuation

PE 57x with 10.9% ROCE. Price is 168% above book value of ₹5.44. Dividend yield: 0%.

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