अApnaFunda
Menu

CADSYS INDIA LIMITED (CADSYS)

Technology Services · Packaged Software · figures to Nov '26

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.27 / 100
Profitability 3Growth 8Balance sheet 70
Compare withONE 97 COMMUNICATIONS PAYTMORACLE FINANCIAL SERVICES SOFTMPHASIS

Share price

Closing priceAdjusted for splits and bonus issues.

₹27 latest close · −45.7% over the last 90 sessions

₹40₹60Jan 5Feb 20Apr 20May 15Sep 29Nov 9 ₹40₹60Jan 5May 4Nov 9

₹27 month-end · −62.2% over 12 months

₹40₹60Oct '25Dec '25Mar '26May '26Sep '26Nov '26 ₹40₹60Oct '25Apr '26Nov '26

₹27 month-end · −88.8% over 3 years

₹0₹200₹400Oct '23May '24Dec '24Aug '25Mar '26Nov '26 ₹0₹200₹400Oct '23Apr '25Nov '26

₹27 month-end · −36.0% since Feb '19

₹0₹200₹400Feb '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹200₹400Feb '19Dec '22Nov '26

52-week range ₹26.10 to ₹99.90 · 1-year volatility 53.4%

How rough has the ride been?

Maximum drawdown-94.6%not yet recovered
1-year volatility53.4%annualised

Drawdown from peak

0%−50%−100%2020202120222023202420252026−94.6% 0%−50%−100%2020202220242026−94.6%
Largest drawdowns

-94.6% (2024-05 peak to 2026-11 low, not yet recovered)

-73.3% (2019-06 peak to 2020-03 low, recovered 2023-06)

-30.7% (2023-11 peak to 2024-03 low, recovered 2024-04)

Where does it rank among Technology Services peers?

Each cell is the company's percentile rank among its Technology Services peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

  • ROCE3rdflat vs a year ago
  • Revenue growth60th▲ 55 pts vs a year ago
  • EPS growth3rd▼ 66 pts vs a year ago
  • Debt/equity ↓37th▲ 36 pts vs a year ago
  • Cash cycle ↓68th▲ 65 pts vs a year ago
  • P/E ↓99th▲ 64 pts vs a year ago
  • 12M momentum3rd▼ 6 pts vs a year ago

Rank history

ROCE
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26
Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹27.00
ROCE
-14.0%
Market Cap
₹27 cr
Revenue (TTM)
₹116 cr
P/S
0.2x
P/B
0.8x
ROE
-52.9%
Debt / Equity
0.2x
Promoter Holding
47.8%
12M Momentum
-62.2%

52-week range

₹26.10₹99.90
1% of the way from its 52-week low to its high

Price risk

1Y volatility
53.4%
Beta vs sector
1-year daily
0.10

Balance sheet & cash

Interest cover
operating profit ÷ interest
-9.3x
Cash from profit, 3Y
operating cash flow ÷ net profit
-2.00x
low
Share count, 1Y
unchanged

Are profits backed by cash?

2 of 3checks within range1 beyond a threshold
Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion—Not enough data

Not enough reported data to compute this.

Free cash flow1 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 1. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-112 daysWithin range

Debtor days are below the median of the previous three fiscal years by 112 days (54 vs 166). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, institutional and promoter holdings were broadly unchanged.
  • The number of shareholders rose from 524 to 877 (+67%) between Sep 2020 and Mar 2026.

Holdings, Mar '26

How each group changed

GroupSep '20Mar '26Change
Promoters47.7%47.8%+0.1 pts
FIIs———
DIIs———
Public and others52.3%52.2%-0.1 pts

Number of shareholders

877shareholders+67% since Sep '20
3636729811k Sep '20Mar '21Sep '22Sep '23Sep '24Mar '26
Sep '20: 524
Mar '21: 479
Sep '22: 443
Sep '23: 363
Sep '24: 1,290
Mar '26: 877
 3636729811k Sep '20Sep '22Sep '24Mar '26
Sep '20: 524
Mar '21: 479
Sep '22: 443
Sep '23: 363
Sep '24: 1,290
Mar '26: 877

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

+18.9%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like CADSYS INDIA LIMITED today on valuation, return on capital, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −9% to +76% vs the market, against −2% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +20.7%, 80% range +3.7% to +31.6%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−50%0%+50%+100%
AKSHAR · Jan 2024: −77.0% vs market
SETCO · Feb 2023: −35.6% vs market
3IINFOLTD · Oct 2024: −35.5% vs market
SHANTI · Aug 2025: −31.0% vs market
TEXMOPIPES · Sep 2023: −23.3% vs market
YUDIZ · Aug 2025: −22.1% vs market
SILLYMONKS · May 2023: −20.6% vs market
BAFNAPH · Oct 2021: −20.0% vs market
BLBLIMITED · Oct 2024: −19.9% vs market
PRAXIS · May 2024: −18.4% vs market
SELMC · Jul 2025: −16.1% vs market
UNIINFO · Mar 2022: −12.8% vs market
SHYAMTEL · Oct 2025: −8.8% vs market
NAGAFERT · Aug 2022: −8.1% vs market
VISACHROME · Oct 2022: −7.7% vs market
DTIL · Oct 2025: −7.6% vs market
S&SPOWER · Mar 2021: −5.4% vs market
SHEMAROO · Apr 2025: −4.4% vs market
SALSTEEL · Jan 2020: −4.0% vs market
MADHAV · Jun 2024: +1.0% vs market
JISLDVREQS · May 2020: +2.2% vs market
AURUS · Sep 2023: +11.1% vs market
ESSARSHPNG · Jan 2020: +12.6% vs market
JHS · Sep 2025: +14.1% vs market
COFFEEDAY · Nov 2024: +18.7% vs market
MUKTAARTS · May 2024: +19.1% vs market
MOHITIND · Aug 2023: +24.9% vs market
MANORG · Mar 2024: +25.1% vs market
BANG · Jun 2024: +30.2% vs market
PEARLPOLY · May 2021: +30.8% vs market
DGCONTENT · Aug 2021: +34.0% vs market
MADHUCON · Nov 2022: +40.6% vs market
GILLANDERS · Sep 2024: +49.4% vs market
RADAAN · Jul 2021: +54.9% vs market
ANIKINDS · May 2021: +56.5% vs market
ASAL · Aug 2020: +59.6% vs market
ZENITHSTL · Aug 2023: +61.2% vs market
CLEDUCATE · Aug 2020: +81.4% vs market
AISL · Jan 2021: +104.9% vs market
THOMASCOTT · Jul 2020: +106.1% vs market
IMAGICAA · Apr 2021: +106.3% vs market
SUPREMEINF · Mar 2022: +106.9% vs market
DELTAMAGNT · Oct 2020: +109.3% vs market
TVVISION · May 2023: +121.9% vs market
SUMIT · Dec 2021: +151.2% vs market
NIBL · May 2020: +154.0% vs market
ELECTHERM · Nov 2022: +164.0% vs market
TRANSWORLD · Dec 2020: +172.5% vs market
NITCO · May 2023: +177.8% vs market
CCCL · Aug 2021: +226.6% vs market
Similar setups +18.9%All companies −1.8%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 13 beyond the range shown, drawn at the edge

Similar setups' median
+18.9%
All companies' median
−1.8%
Beat the market
62% vs 48%

50 past situations · 50 companies · 34 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
AISL
Commercial Services		 Jan 2021 —— −14%−66% +105%
BANG
Retail Trade		 Jun 2024 —-6% +16%−39% +30%
SELMC
Process Industries		 Jul 2025 —-15% −46%−61% −16%
UNIINFO
Communications		 Mar 2022 —-9% +13%−49% −13%
DGCONTENT
Commercial Services		 Aug 2021 —-19% +29%−43% +34%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SETCO
Producer Manufacturing		 Feb 2023 —-9% −47%−54% −36%
S&SPOWER
Producer Manufacturing		 Mar 2021 —-18% +47%−41% −5%
BAFNAPH
Health Technology		 Oct 2021 —-3% +6%−45% −20%
How reliable is this?

Matched on P/S, ROCE, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: volatility, 12-month momentum and ROCE. Not used (unavailable for this company): P/E and operating margin. This company is loss-making, so it was only compared with loss-making companies. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to CADSYS INDIA LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What changed?

24 events since Mar '20

  1. NovPriceFell 95% from the May 2024 peak to the Nov 2026 low.
  2. AugDebtDebt / equity halved over 12 months to 0.20x.
  3. JunResultsEPS (TTM) turned negative.
  4. JunPeer rankSlipped to the bottom quartile of Technology Services on ROCE (from the 3rd quartile).
  5. JunSharesShare count is up 25.0% over 12 months.
  6. DecPeer rankSlipped to the 2nd quartile of Technology Services on EPS growth (from the top quartile).
  7. JunResultsYear-on-year EPS growth turned positive.
  8. JunPeer rankMoved into the top quartile of Technology Services on EPS growth (from the bottom quartile).
Show 16 earlier events
  1. AprPriceRegained the 2023-11 peak, 1 month after the low.
  2. AprValuationP/E crossed above the 90th percentile of its own history to date (61.1x).
  3. MarPriceFell 31% from the Nov 2023 peak to the Mar 2024 low.
  4. NovPriceRegained the 2023-10 peak, 0 months after the low.
  5. NovPriceFell 30% from the Oct 2023 peak to the Nov 2023 low.
  6. JunResultsEPS (TTM) turned positive.
  7. JunPriceRegained the 2019-06 peak, 39 months after the low.
  8. JunPeer rankMoved into the 3rd quartile of Technology Services on ROCE (from the bottom quartile).
  9. JunDebtDebt / equity rose above 1.0x (1.59x).
  10. JunResultsRevenue (TTM) reached a new high of ₹67 cr.
  11. JunResultsEPS (TTM) turned negative.
  12. MayValuationP/E crossed above the 90th percentile of its own history to date (66.8x).
  13. JunResultsYear-on-year EPS growth turned negative.
  14. JunPeer rankSlipped to the bottom quartile of Technology Services on ROCE (from the 2nd quartile).
  15. JunDividendDividend payout cut from 8% to 0% of profit.
  16. MarPriceFell 73% from the Jun 2019 peak to the Mar 2020 low.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history94 months · 2019-02 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-11—₹116 cr-52.9%-14.0%0.2x
2026-10—₹116 cr-52.9%-14.0%0.2x
2026-09—₹116 cr-52.9%-14.0%0.2x
2026-08—₹116 cr-52.9%-14.0%0.2x
2026-07—₹116 cr-52.9%-14.0%0.2x
2026-06—————
2026-05—₹100 cr-132.8%-17.0%3.6x
2026-04—₹100 cr-132.8%-17.0%3.6x
2026-03—₹100 cr-132.8%-17.0%3.6x
2026-02—₹100 cr-132.8%-17.0%3.6x
2026-01—₹100 cr-132.8%-17.0%3.6x
2025-12—₹100 cr-132.8%-17.0%3.6x
2025-11—₹100 cr-132.8%-17.0%3.6x
2025-10—₹100 cr-132.8%-17.0%3.6x
2025-09—₹100 cr-132.8%-17.0%3.6x
2025-08—₹100 cr-132.8%-17.0%3.6x
2025-07—₹100 cr-132.8%-17.0%3.6x
2025-06—₹100 cr-132.8%-17.0%3.6x
2025-057.4x₹215 cr14.4%12.0%1.4x
2025-049.1x₹215 cr14.4%12.0%1.4x
2025-036.4x₹215 cr14.4%12.0%1.4x
2025-027.0x₹215 cr14.4%12.0%1.4x
2025-019.2x₹215 cr14.4%12.0%1.4x
2024-129.9x₹215 cr14.4%12.0%1.4x
2024-1110.1x₹215 cr14.4%12.0%1.4x
2024-1013.0x₹215 cr14.4%12.0%1.4x
2024-0913.4x₹215 cr14.4%12.0%1.4x
2024-0813.8x₹215 cr14.4%12.0%1.4x
2024-0719.1x₹215 cr14.4%12.0%1.4x
2024-0620.0x₹215 cr14.4%12.0%1.4x
2024-0555.7x₹175 cr8.2%9.0%1.6x
2024-0461.1x₹175 cr8.2%9.0%1.6x
2024-0336.1x₹175 cr8.2%9.0%1.6x
2024-0235.2x₹175 cr8.2%9.0%1.6x
2024-0141.0x₹175 cr8.2%9.0%1.6x
2023-1235.2x₹175 cr8.2%9.0%1.6x
2023-1146.6x₹175 cr8.2%9.0%1.6x
2023-1038.7x₹175 cr8.2%9.0%1.6x
2023-0928.9x₹175 cr8.2%9.0%1.6x
2023-0820.6x₹175 cr8.2%9.0%1.6x
2023-0717.9x₹175 cr8.2%9.0%1.6x
2023-0611.2x₹175 cr8.2%9.0%1.6x
2023-05—₹67 cr-5.9%-6.0%0.7x
2023-04—₹67 cr-5.9%-6.0%0.7x
2023-03—₹67 cr-5.9%-6.0%0.7x
2023-02—₹67 cr-5.9%-6.0%0.7x
2023-01—₹67 cr-5.9%-6.0%0.7x
2022-12—₹67 cr-5.9%-6.0%0.7x
2022-11—₹67 cr-5.9%-6.0%0.7x
2022-10—₹67 cr-5.9%-6.0%0.7x
2022-09—₹67 cr-5.9%-6.0%0.7x
2022-08—₹67 cr-5.9%-6.0%0.7x
2022-07—₹67 cr-5.9%-6.0%0.7x
2022-06—₹67 cr-5.9%-6.0%0.7x
2022-05—₹31 cr-5.7%-9.0%0.3x
2022-04—₹31 cr-5.7%-9.0%0.3x
2022-03—₹31 cr-5.7%-9.0%0.3x
2022-02—₹31 cr-5.7%-9.0%0.3x
2022-01—₹31 cr-5.7%-9.0%0.3x
2021-12—₹31 cr-5.7%-9.0%0.3x
2021-11—₹31 cr-5.7%-9.0%0.3x
2021-10—₹31 cr-5.7%-9.0%0.3x
2021-09—₹31 cr-5.7%-9.0%0.3x
2021-08—₹31 cr-5.7%-9.0%0.3x
2021-07—₹31 cr-5.7%-9.0%0.3x
2021-06—₹31 cr-5.7%-9.0%0.3x
2021-0566.8x₹42 cr0.6%0.0%0.2x
2021-0450.1x₹42 cr0.6%0.0%0.2x
2021-0347.5x₹42 cr0.6%0.0%0.2x
2021-0251.0x₹42 cr0.6%0.0%0.2x
2021-0154.1x₹42 cr0.6%0.0%0.2x
2020-1257.5x₹42 cr0.6%0.0%0.2x
2020-1148.4x₹42 cr0.6%0.0%0.2x
2020-1052.5x₹42 cr0.6%0.0%0.2x
2020-0957.0x₹42 cr0.6%0.0%0.2x
2020-0859.9x₹42 cr0.6%0.0%0.2x
2020-0756.3x₹42 cr0.6%0.0%0.2x
2020-0665.0x₹42 cr0.6%0.0%0.2x
2020-051.2x₹52 cr11.4%25.0%0.1x
2020-041.6x₹52 cr11.4%25.0%0.1x
2020-031.1x₹52 cr11.4%25.0%0.1x
2020-021.8x₹52 cr11.4%25.0%0.1x
2020-012.0x₹52 cr11.4%25.0%0.1x
2019-122.3x₹52 cr11.4%25.0%0.1x
2019-112.2x₹52 cr11.4%25.0%0.1x
2019-102.9x₹52 cr11.4%25.0%0.1x
2019-093.0x₹52 cr11.4%25.0%0.1x
2019-082.8x₹52 cr11.4%25.0%0.1x
2019-073.0x₹52 cr11.4%25.0%0.1x
2019-063.3x₹52 cr11.4%25.0%0.1x
2019-055.6x₹45 cr8.4%21.0%0.1x
2019-045.1x₹45 cr8.4%21.0%0.1x
2019-034.9x₹45 cr8.4%21.0%0.1x
2019-024.3x₹45 cr8.4%21.0%0.1x

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

Feedback