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TRACXN TECHNOLOGIES LIMITED (TRACXN)

Technology Services · Internet Software/Services · 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.44 / 100
Profitability 6Growth 26Balance sheet 100
Compare withINFO EDGE (INDIA)PB FINTECHCARTRADE TECH

Share price

Closing priceAdjusted for splits and bonus issues.

₹28.57 latest close · −5.7% over the last 90 sessions

₹28₹30₹32₹34Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹28₹30₹32₹34Jul 3Sep 4Nov 9

₹28.57 month-end · −38.0% over 12 months

₹30₹40Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹30₹40Nov '25May '26Nov '26

₹28.57 month-end · −69.2% over 3 years

₹50₹100Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹50₹100Nov '23May '25Nov '26

₹28.57 month-end · −60.3% since Oct '22

₹50₹100Oct '22Aug '23Jun '24Mar '25Jan '26Nov '26 ₹50₹100Oct '22Nov '24Nov '26

52-week range ₹25.39 to ₹54.00 · 1-year volatility 45.8%

How rough has the ride been?

Maximum drawdown-78.5%not yet recovered
1-year volatility45.8%annualised

Drawdown from peak

0%−25%−50%−75%2023202420252026−77.7% 0%−25%−50%−75%202420252026−77.7%
Largest drawdowns

-78.5% (2024-01 peak to 2026-03 low, not yet recovered)

-38.7% (2023-01 peak to 2023-03 low, recovered 2023-12)

-26.4% (2022-10 peak to 2022-11 low, recovered 2022-12)

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

  • ROCE5th▼ 26 pts vs a year ago
  • Op. margin7th▼ 7 pts vs a year ago
  • Revenue growth15th▼ 16 pts vs a year ago
  • EPS growth1stflat vs a year ago
  • Debt/equity ↓96thflat vs a year ago
  • Cash cycle ↓88thflat vs a year ago
  • P/E ↓1st▼ 65 pts vs a year ago
  • 12M momentum22nd▲ 5 pts vs a year ago

Rank history

ROCE
Op. margin
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
₹28.57
ROCE
-7.0%
Market Cap
₹306 cr
Revenue (TTM)
₹84 cr
P/S
3.7x
P/B
5.8x
ROE
-22.9%
Operating Margin
-20.1%
Debt / Equity
0.0x
Promoter Holding
34.6%
12M Momentum
-38.0%

52-week range

₹25.39₹54.00
11% of the way from its 52-week low to its high

Price risk

1Y volatility
45.8%
Beta vs sector
1-year daily
0.49

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
1.41x
Share count, 1Y
unchanged

Are profits backed by cash?

1 of 2checks within range1 near 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 flow3 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-26 daysWithin range

Debtor days are below the median of the previous three fiscal years by 26 days (11 vs 37). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress—Not enough data

Not enough reported data to compute this.

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, DIIs trimmed 13.6 pts; FIIs trimmed 3.2 pts; promoters trimmed 0.6 pts.
  • The number of shareholders rose from 35,961 to 73,688 (+105%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters35.2%34.6%-0.6 pts
FIIs3.9%0.7%-3.2 pts
DIIs17.1%3.4%-13.6 pts
Public and others43.8%61.2%+17.4 pts

Number of shareholders

73,688shareholders+105% since Sep '23
36k54k72k91k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 35,961
Dec '23: 54,210
Mar '24: 86,613
Jun '24: 87,512
Sep '24: 90,591
Dec '24: 87,843
Mar '25: 84,088
Jun '25: 82,902
Sep '25: 81,634
Dec '25: 77,685
Mar '26: 75,925
Jun '26: 73,688
 36k54k72k91k Sep '23Sep '24Sep '25Jun '26
Sep '23: 35,961
Dec '23: 54,210
Mar '24: 86,613
Jun '24: 87,512
Sep '24: 90,591
Dec '24: 87,843
Mar '25: 84,088
Jun '25: 82,902
Sep '25: 81,634
Dec '25: 77,685
Mar '26: 75,925
Jun '26: 73,688

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

−10.3%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like TRACXN TECHNOLOGIES LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −23% to +14% vs the market, against −4% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −6.5%, 80% range −12.9% to −3.7%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
PRAXIS · Oct 2025: −63.5% vs market
ALOKINDS · Aug 2025: −54.7% vs market
GTLINFRA · Aug 2022: −52.6% vs market
NEXTMEDIA · Jun 2020: −52.3% vs market
SUBEXLTD · May 2024: −51.0% vs market
QUICKHEAL · Oct 2025: −48.6% vs market
UNITECH · Sep 2025: −46.7% vs market
KREBSBIO · Jan 2023: −46.1% vs market
DWARKESH · Mar 2023: −45.2% vs market
ZODIACLOTH · May 2020: −42.3% vs market
SPECIALITY · Jan 2020: −38.8% vs market
ARTNIRMAN · Mar 2023: −33.9% vs market
SURANASOL · Sep 2025: −23.6% vs market
PALASHSECU · May 2025: −20.7% vs market
EMAMIREAL · Nov 2024: −20.2% vs market
HCL-INSYS · Dec 2024: −17.4% vs market
LLOYDS · Nov 2024: −17.4% vs market
LOVABLE · Aug 2023: −16.8% vs market
MUKTAARTS · Sep 2025: −16.4% vs market
OMAXE · Jul 2025: −16.2% vs market
SIL · Jul 2025: −15.1% vs market
NURECA · Oct 2024: −13.7% vs market
ENIL · Dec 2021: −13.6% vs market
MAXIND · May 2025: −13.4% vs market
JHS · Sep 2023: −10.3% vs market
KOHINOOR · May 2024: −10.3% vs market
BOMDYEING · Nov 2021: −10.0% vs market
SUVIDHAA · Aug 2023: −9.2% vs market
SUPREMEINF · May 2025: −9.0% vs market
BALAJITELE · Jan 2020: −6.4% vs market
MOTOGENFIN · Feb 2020: −4.3% vs market
ATLANTAA · Jul 2021: −0.6% vs market
ITDC · Dec 2021: +0.6% vs market
IITL · Aug 2021: +3.3% vs market
SMARTLINK · Mar 2021: +10.0% vs market
RSSOFTWARE · Feb 2021: +11.5% vs market
CARTRADE · Apr 2023: +12.1% vs market
BROOKS · Sep 2023: +14.5% vs market
OILCOUNTUB · Dec 2020: +15.2% vs market
TAINWALCHM · Nov 2021: +20.7% vs market
KAMATHOTEL · Jul 2021: +21.8% vs market
ARROWGREEN · Apr 2020: +25.7% vs market
FCSSOFT · Apr 2023: +28.9% vs market
IVC · Mar 2021: +42.5% vs market
NIBL · Jun 2020: +44.7% vs market
TRF · Aug 2021: +48.0% vs market
OLECTRA · Apr 2020: +61.1% vs market
63MOONS · Jan 2023: +84.4% vs market
PANACEABIO · Jan 2024: +92.1% vs market
MTNL · Jul 2023: +181.4% vs market
Similar setups −10.3%All companies −3.8%← 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 · 1 beyond the range shown, drawn at the edge

Similar setups' median
−10.3%
All companies' median
−3.8%
Beat the market
36% vs 46%

50 past situations · 50 companies · 29 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
63MOONS
Technology Services		 Jan 2023 —-2% −37%−47% +84%
NEXTMEDIA
Consumer Services		 Jun 2020 —-12% −42%−49% −52%
BALAJITELE
Consumer Services		 Jan 2020 —-11% −40%−40% −6%
ENIL
Consumer Services		 Dec 2021 —-8% +8%−24% −14%
DWARKESH
Process Industries		 Mar 2023 —— −32%−40% −45%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
KREBSBIO
Health Technology		 Jan 2023 —-57% −40%−43% −46%
SUPREMEINF
Industrial Services		 May 2025 —— −17%−45% −9%
NURECA
Health Technology		 Oct 2024 —-1% −12%−35% −14%
How reliable is this?

Matched on P/S, ROCE, operating margin, debt/equity, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and volatility. Not used (unavailable for this company): P/E and interest cover. 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 TRACXN TECHNOLOGIES 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?

13 events since Nov '22

  1. JunPeer rankSlipped to the bottom quartile of Technology Services on ROCE (from the 3rd quartile).
  2. MarPriceFell 78% from the Jan 2024 peak to the Mar 2026 low.
  3. DecInstitutionsFII + DII holding fell 4.0 pts over 2 quarters to 3.7%.
  4. JunSharesShare count is up 10.0% over 12 months.
  5. MarResultsEPS (TTM) turned negative.
  6. JunResultsRevenue (TTM) reached a new high of ₹83 cr.
  7. MarInstitutionsFII + DII holding fell 4.2 pts over 1 quarter to 16.7%.
  8. DecPriceRegained the 2023-01 peak, 9 months after the low.
Show 5 earlier events
  1. JunResultsEPS (TTM) turned positive.
  2. JunPeer rankMoved into the 3rd quartile of Technology Services on ROCE (from the bottom quartile).
  3. MarPriceFell 39% from the Jan 2023 peak to the Mar 2023 low.
  4. DecPriceRegained the 2022-10 peak, 1 month after the low.
  5. NovPriceFell 26% from the Oct 2022 peak to the Nov 2022 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 history50 months · 2022-10 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-11—₹84 cr-22.9%-7.0%0.0x
2026-10—₹84 cr-22.7%-7.0%0.0x
2026-09—₹84 cr-22.7%-7.0%0.0x
2026-08—₹84 cr-14.9%-7.0%0.0x
2026-07—₹84 cr-14.9%-7.0%0.0x
2026-06—₹84 cr-14.9%-7.0%0.0x
2026-05—₹85 cr-19.4%8.0%0.0x
2026-04—₹85 cr-19.4%8.0%0.0x
2026-03—₹85 cr-19.4%8.0%0.0x
2026-02—₹85 cr-16.1%8.0%0.0x
2026-01—₹85 cr-16.1%8.0%0.0x
2025-12—₹85 cr-16.1%8.0%0.0x
2025-11—₹85 cr-14.7%8.0%0.0x
2025-10—₹85 cr-14.7%8.0%0.0x
2025-09—₹85 cr-14.7%8.0%0.0x
2025-08—₹84 cr-14.5%8.0%0.0x
2025-07—₹84 cr-14.5%8.0%0.0x
2025-06—₹84 cr-14.5%8.0%0.0x
2025-05—₹84 cr-0.7%13.0%0.0x
2025-04—₹84 cr-0.7%13.0%0.0x
2025-03—₹84 cr-0.7%13.0%0.0x
2025-021342.3x₹83 cr0.5%13.0%0.0x
2025-011774.0x₹83 cr0.5%13.0%0.0x
2024-121926.5x₹83 cr0.5%13.0%0.0x
2024-11117.4x₹83 cr10.0%13.0%0.0x
2024-10116.9x₹83 cr10.0%13.0%0.0x
2024-09130.5x₹83 cr10.0%13.0%0.0x
2024-08145.1x₹83 cr9.2%13.0%0.0x
2024-07155.3x₹83 cr9.2%13.0%0.0x
2024-06137.7x₹83 cr9.2%13.0%0.0x
2024-0525.1x₹78 cr55.0%12.0%0.0x
2024-0430.5x₹78 cr55.0%12.0%0.0x
2024-0326.0x₹78 cr55.0%12.0%0.0x
2024-0230.0x₹78 cr55.0%12.0%0.0x
2024-0134.9x₹78 cr55.0%12.0%0.0x
2023-1233.1x₹78 cr55.0%12.0%0.0x
2023-1128.1x₹78 cr55.0%12.0%0.0x
2023-1021.2x₹78 cr55.0%12.0%0.0x
2023-0921.7x₹78 cr55.0%12.0%0.0x
2023-0823.2x₹78 cr55.0%12.0%0.0x
2023-0725.9x₹78 cr55.0%12.0%0.0x
2023-0624.5x₹78 cr55.0%12.0%0.0x
2023-05—₹63 cr-23.8%-2.0%0.0x
2023-04—₹63 cr-23.8%-2.0%0.0x
2023-03—₹63 cr-23.8%-2.0%0.0x
2023-02—₹63 cr-23.8%-2.0%0.0x
2023-01—₹63 cr-23.8%-2.0%0.0x
2022-12—₹63 cr-23.8%-2.0%0.0x
2022-11—₹63 cr-23.8%-2.0%0.0x
2022-10—₹63 cr-23.8%-2.0%0.0x

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.

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