अApnaFunda

UNICOMMERCE ESOLUTIONS LIMITED (UNIECOM)

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.76 / 100
Profitability 52Balance sheet 100
Momentum scoreHow strong the recent trend is: 3-month price change, 12-month improvement in earnings and the rise in FII + DII holding, among companies above ₹500 cr.31 / 100
Price 66Earnings 19FII/DII 7

Passes these screensDebt-light & profitable

Share price

Closing priceAdjusted for splits and bonus issues.

₹84.53 latest close · −7.1% over the last 90 sessions

₹75₹80₹85₹90Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹75₹80₹85₹90Jul 3Sep 4Nov 9

₹84.53 month-end · −33.9% over 12 months

₹80₹100₹120Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹80₹100₹120Nov '25May '26Nov '26

₹84.53 month-end · −61.5% since Aug '24

₹100₹150₹200Aug '24Jan '25Jul '25Dec '25Jun '26Nov '26 ₹100₹150₹200Aug '24Oct '25Nov '26

52-week range ₹75.05 to ₹138.90 · 1-year volatility 42.8%

Was the rally earned?

-34%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 6 points, but investors now pay less per rupee of profit (P/E 72.2x to 44.5x), which took 40 points back.
  • The share count rose 11%.
Net profit growth: +14 pts. Points of the price return explained by net profit growing (or shrinking).+14 ptsNet profit growthP/E change: −40 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−40 ptsP/E changeShare count change: −8 pts. Points of the price return explained by the share count changing. More shares count against the price.−8 ptsShare count changeShare price: −34%−34%Share priceNet profit growth: +14 pts. Points of the price return explained by net profit growing (or shrinking).+14ProfitP/E change: −40 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−40P/EShare count change: −8 pts. Points of the price return explained by the share count changing. More shares count against the price.−8SharesShare price: −34%−34%Share price
Net profit growth+14 ptsNet profit rose about 19%, which lifts the price.
P/E change-40 ptsThe P/E fell from 72.2x to 44.5x, which lowers the price.
Share count change-8 ptsShare count rose 11%, which lowers the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with ONE 97 COMMUNICATIONS PAYTM

How rough has the ride been?

Maximum drawdown-68.6%not yet recovered
1-year volatility42.8%annualised
Beta vs sector index0.543-year daily, correlation 0.23
Volume spikes4last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%20252026−68.6% 0%−20%−40%−60%20252026−68.6%
Largest drawdowns

-68.6% (2024-09 peak to 2026-10 low, not yet recovered)

-17.3% (2024-08 peak to 2024-09 low, recovered 2024-09)

Most recent volume spikes

2026-10-14: 13.7x the 50-day median, price +1.7% that day

2026-09-22: 67.9x the 50-day median, price +6.4% that day

2026-08-12: 14.2x the 50-day median, price +9.4% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

44.5xP/E todayNear its historic low
Against its own history14th percentile
CheapestMedian 59.2xDearest

Usual range 44.4x to 83.1x since 2024-08.

Against Technology Services44.5x vs 21.1x
This company
44.5x
Sector median
21.1x

111% above the Technology Services median.

19.6x45.8x72.1x98.3xAug '24Feb '25Aug '25Feb '26Aug '26Nov '2619.6x45.8x72.1x98.3xAug '24May '25Feb '26Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianTechnology Services median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Technology Services is valued

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

  • ROCE65th▼ 18 pts vs a year ago
  • Op. margin38th▼ 26 pts vs a year ago
  • Revenue growth85thflat vs a year ago
  • EPS growth48th▲ 19 pts vs a year ago
  • Debt/equity ↓62nd▲ 20 pts vs a year ago
  • Cash cycle ↓85th▲ 7 pts vs a year ago
  • P/E ↓23rd▲ 11 pts vs a year ago
  • 12M momentum32nd▼ 6 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?

~25%annual earnings growth implied by the price

At a P/E of 44.5x, the price would imply about 24.9%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

“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
₹84.53
P/E
44.5x
ROCE
21.0%
Market Cap
₹951 cr
Revenue (TTM)
₹211 cr
P/S
4.5x
P/B
4.9x
ROE
11.1%
Operating Margin
10.6%
Debt / Equity
0.0x
Promoter Holding
36.0%
12M Momentum
-33.9%

52-week range

₹75.05₹138.90
15% of the way from its 52-week low to its high

Price risk

1Y volatility
42.8%
Beta vs sector
1-year daily
0.52

Balance sheet & cash

Interest cover
operating profit ÷ interest
34.6x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.59x
Share count, 1Y
+10.0%

Are profits backed by cash?

5 of 6checks within range1 near a threshold
Other income reliance17%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 16.6%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 25.6%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.59xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.59x (cash from operations ₹81 cr, net profit ₹51 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow3 of 3 yrsWithin range

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

Receivable days vs history-22 daysWithin range

Debtor days are below the median of the previous three fiscal years by 22 days (20 vs 42). 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 2 years, DIIs trimmed 7.9 pts; promoters trimmed 3.4 pts; FIIs trimmed 2.3 pts.

Holdings, Jun '26

How each group changed

GroupSep '24Jun '26Change
Promoters39.4%36.0%-3.4 pts
FIIs2.3%0.0%-2.3 pts
DIIs10.3%2.4%-7.9 pts
Public and others48.0%61.6%+13.6 pts

Number of shareholders

97,663shareholders-3% since Sep '24
98k1.0L1.1L1.1L Sep '24Mar '25Sep '25Mar '26Jun '26
Sep '24: 1.0 lakh
Dec '24: 1.1 lakh
Mar '25: 1.1 lakh
Jun '25: 1.1 lakh
Sep '25: 1.0 lakh
Dec '25: 1.0 lakh
Mar '26: 98,355
Jun '26: 97,663
98k1.0L1.1L1.1L Sep '24Jun '25Mar '26Jun '26
Sep '24: 1.0 lakh
Dec '24: 1.1 lakh
Mar '25: 1.1 lakh
Jun '25: 1.1 lakh
Sep '25: 1.0 lakh
Dec '25: 1.0 lakh
Mar '26: 98,355
Jun '26: 97,663

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

−4.5%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like UNICOMMERCE ESOLUTIONS 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 −24% to +36% vs the market, against −2% for all non-financial companies in the same months.
  • The gap against the base rate (−2.8%, 80% range −10.9% to +4.8%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
AURIONPRO · Oct 2025: −52.7% vs market
HPAL · Jun 2024: −47.1% vs market
INFOBEAN · Mar 2023: −45.3% vs market
DIVGIITTS · Mar 2024: −44.2% vs market
FOCUS · Apr 2024: −44.0% vs market
MAHEPC · Apr 2021: −43.5% vs market
ROSSARI · May 2023: −34.3% vs market
LAOPALA · Nov 2023: −34.1% vs market
IKIO · May 2025: −32.1% vs market
ADVENZYMES · Sep 2021: −30.9% vs market
IONEXCHANG · Aug 2024: −30.2% vs market
CERA · Feb 2024: −27.2% vs market
NGLFINE · Sep 2024: −24.6% vs market
RALLIS · Feb 2021: −23.8% vs market
HESTERBIO · Nov 2021: −23.2% vs market
LXCHEM · Dec 2022: −23.0% vs market
INTELLECT · May 2022: −20.2% vs market
PLATIND · Oct 2025: −15.4% vs market
MTARTECH · May 2024: −13.3% vs market
THEJO · Feb 2025: −12.7% vs market
CONTROLPR · Oct 2020: −12.1% vs market
KIOCL · May 2022: −11.2% vs market
GRAVITA · Sep 2025: −8.3% vs market
ADFFOODS · Dec 2021: −6.8% vs market
WENDT · Sep 2025: −5.5% vs market
TTKPRESTIG · Feb 2022: −3.4% vs market
SAKSOFT · May 2024: −1.6% vs market
BLSE · May 2025: +2.1% vs market
ROUTE · Dec 2022: +3.5% vs market
PRAJIND · Jan 2023: +4.3% vs market
SAREGAMA · Dec 2023: +6.2% vs market
DELTACORP · May 2020: +14.7% vs market
ITDC · Nov 2023: +16.1% vs market
ACUTAAS · Sep 2022: +16.5% vs market
POLYMED · Feb 2022: +18.5% vs market
SAFARI · Jan 2021: +19.2% vs market
KSB · Jun 2020: +32.5% vs market
AVTNPL · May 2021: +36.9% vs market
KRISHIVAL · Dec 2024: +39.0% vs market
SIRCA · Jul 2021: +40.0% vs market
MATRIMONY · Jun 2020: +52.4% vs market
SIGACHI · Nov 2022: +55.6% vs market
RSYSTEMS · Feb 2021: +61.4% vs market
APCOTEXIND · Jun 2020: +62.4% vs market
TRITURBINE · Jan 2024: +64.7% vs market
FINEORG · Jul 2021: +66.9% vs market
NEWGEN · Aug 2020: +78.6% vs market
FCL · Feb 2020: +114.5% vs market
GANESHHOU · Nov 2023: +153.9% vs market
KPITTECH · May 2020: +183.7% vs market
Similar setups −4.5%All companies −1.7%← 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
−4.5%
All companies' median
−1.7%
Beat the market
46% vs 48%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
PLATIND
Process Industries
Oct 2025 34x19% −37%−44% −15%
NEWGEN
Technology Services
Aug 2020 19x18% −30%−31% +79%
MATRIMONY
Technology Services
Jun 2020 30x16% −39%−41% +52%
ACUTAAS
Process Industries
Sep 2022 46x24% −29%−35% +17%
ADVENZYMES
Consumer Non-Durables
Sep 2021 30x22% +18%−20% −31%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
HPAL
Non-Energy Minerals
Jun 2024 43x— +12%−24% −47%
ITDC
Consumer Services
Nov 2023 62x28% +12%−13% +16%
LAOPALA
Consumer Durables
Nov 2023 34x22% −4%−20% −34%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, ROCE and drawdown from 12-month high. 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 UNICOMMERCE ESOLUTIONS 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 else looks like this?

Companies with the most similar financial profile today, regardless of industry.

Process Industries
62%similar
promoter holdingmarket cap
Health Technology
55%similar
revenuevolatility
Producer Manufacturing
55%similar
ROCEvolatility
LAXMI DENTALLAXMIDENTL
Health Technology
52%similar
debt/equityrevenue
Producer Manufacturing
52%similar
promoter holdingROCE
Technology Services
38%similar
revenuevolatility
Technology Services
35%similar
P/EROCE
Technology Services
28%similar
market caprevenue

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

18 events since Mar '25

  1. OctPriceFell 69% from the Sep 2024 peak to the Oct 2026 low.
  2. OctPriceVolume reached 13.7x its 50-day median on 2026-10-14; price +1.7% that day.
  3. SepResultsYear-on-year EPS growth turned positive.
  4. SepInstitutionsFII + DII holding fell 3.1 pts over 2 quarters to 2.4%.
  5. SepValuationP/E fell below the 10th percentile of its own history to date (44.2x).
  6. SepSharesShare count is up 10.0% over 12 months.
  7. SepPriceVolume reached 67.9x its 50-day median on 2026-09-22; price +6.4% that day.
  8. JunPeer rankSlipped to the 2nd quartile of Technology Services on ROCE (from the top quartile).
Show 10 earlier events
  1. JunPriceVolume reached 90.7x its 50-day median on 2026-06-11; price +7.3% that day.
  2. FebPriceVolume reached 193.4x its 50-day median on 2026-02-18; price -1.7% that day.
  3. DecPromoterPromoter holding fell 2.8 pts to 36.3%.
  4. NovPriceVolume reached 6.0x its 50-day median on 2025-11-12; price +6.4% that day.
  5. AugSharesShare count is up 66.7% over 12 months.
  6. AugPriceVolume reached 8.0x its 50-day median on 2025-08-19; price +4.3% that day.
  7. JunPeer rankSlipped to the 2nd quartile of Technology Services on operating margin (from the top quartile).
  8. MayPriceVolume reached 13.7x its 50-day median on 2025-05-06; price +1.1% that day.
  9. MarInstitutionsFII + DII holding fell 4.2 pts over 1 quarter to 8.4%.
  10. MarPeer rankMoved into the top quartile of Technology Services on operating margin (from the 2nd quartile).

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 history28 months · 2024-08 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1144.5x₹211 cr11.1%21.0%0.0x
2026-1041.8x₹211 cr11.0%21.0%0.0x
2026-0944.2x₹211 cr11.0%21.0%0.0x
2026-0848.0x₹204 cr10.6%21.0%0.0x
2026-0745.5x₹204 cr10.6%21.0%0.0x
2026-0647.1x₹204 cr10.6%21.0%0.0x
2026-0545.9x₹198 cr29.2%31.0%0.1x
2026-0449.0x₹198 cr29.2%31.0%0.1x
2026-0341.8x₹198 cr29.2%31.0%0.1x
2026-0258.2x₹174 cr27.6%31.0%0.1x
2026-0156.2x₹174 cr27.6%31.0%0.1x
2025-1264.8x₹174 cr27.6%31.0%0.1x
2025-1172.2x₹152 cr25.7%31.0%0.1x
2025-1074.2x₹152 cr25.7%31.0%0.1x
2025-0980.7x₹152 cr25.7%31.0%0.1x
2025-0865.6x₹135 cr25.2%31.0%0.1x
2025-0760.2x₹135 cr25.2%31.0%0.1x
2025-0663.3x₹135 cr25.2%31.0%0.1x
2025-0562.3x₹116 cr24.9%—0.1x
2025-0456.3x₹116 cr24.9%—0.1x
2025-0355.4x₹116 cr24.9%—0.1x
2025-0248.8x₹109 cr21.4%—0.1x
2025-0165.9x₹109 cr21.4%—0.1x
2024-1276.9x₹109 cr21.4%—0.1x
2024-1179.8x₹104 cr18.8%—0.1x
2024-1088.8x₹104 cr18.8%—0.1x
2024-0994.6x₹104 cr18.8%—0.1x
2024-0898.3x₹104 cr18.8%—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.

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