Tata Consultancy Services Ltd.
NSE: TCS
Technology · Information Technology Services
₹2,502.60 last close on 30 Oct 2026 +0.99%
Research updated
Intellect Design Arena Ltd.
NSE: INTELLECTTechnologySoftware - Application
- Last close
- ₹504.55
- Day change
- −₹98.30 (−16.31%)vs
- Market cap
- ₹9,019 crIndian rupees
- Research updated
- 1 report
Follow Intellect Design Arena
Create an account, then follow this company for weekday briefs. You will return to Intellect Design Arena after signing in.
About Intellect Design Arena
Intellect Design Arena Ltd. is a leading entity in the realm of financial technology solutions. Specializing in the development of software for banking, financial institutions, and insurance sectors, the company focuses on transforming complex processes into seamless and efficient operations. It offers a suite of products that cater to various facets of banking operations including digital core banking, transaction banking, risk management, treasury operations, and more. These solutions are designed to enhance customer experiences, optimize risk management, and drive digital transformation across institutions of all sizes. With a global presence and a strong portfolio of clients, Intellect Design Arena Ltd. plays a pivotal role in advancing the digital strategies of financial institutions. The company’s innovative approach and robust product offerings help shape the operational efficiencies and technological advancements of its clientele, making it a significant player in the financial services technology market.
- Sector
- Technology
- Industry
- Software - Application
- Listing
- NSE: INTELLECT
- Employees
- 6,876
- Headquarters
- Chennai, India
- ISIN
- INE306R01017
- Website
- intellectdesign.com
Public research · Report of
Business model & financial foundation
Intellect Design Arena (NSE: INTELLECT), Financial technology software products and implementation: revenue of ₹3,038 crore in FY26 (+21.5% on FY25), an EBITDA margin of 19.1%, net profit of ₹345.4 crore and net cash of ₹1,098 crore.
- Revenue, FY26 (₹ crore)
- 3,038
- consolidated
- Revenue growth, FY26
- +21.5%
- on FY25
- EBITDA margin, FY26
- 19.1%
- EBITDA (Operating EBITDA excluding other income) / revenue
- Net profit, FY26 (₹ crore)
- 345.4
- to owners
- Return on equity, FY26
- 11.5%
- on average equity
- Net debt, FY26 (₹ crore)
- -1,098
- Net debt incl leases less cash banks treasury investments
- Market capitalisation (₹ crore)
- 9,256
- at the close of 18 Oct 2026
Company profile
Intellect develops financial technology product IP and earns licence, platform/subscription, maintenance and implementation revenue from banks, insurers and institutions worldwide. eMACH.ai, Purple Fabric and iTurmeric underpin its composable banking and AI platforms. Statutory reporting treats software product licences and related services as one operating segment. Development capitalisation and contract revenue judgments are material accounting features.
| Item | Value |
|---|---|
| Legal name | Intellect Design Arena Limited |
| Exchange and ticker | NSE: INTELLECT; BSE: 538835 |
| ISIN | INE306R01017 |
| CIN | L72900TN2011PLC080183 |
| Sector | Information Technology |
| Industry | Financial technology software products and implementation |
| Headquarters | Chennai, India |
| Fiscal year end | March |
| Reporting basis and unit | consolidated, in ₹ crore |
| Auditor | MSKC & Associates LLP (since 2024-06-26) |
| Market capitalisation | ₹9,256 crore (18 Oct 2026) |
| Shares outstanding | 13.97 crore shares (FY26) |
| Price | ₹646.4 (close, 18 Oct 2026) |
| 52-week range | ₹564.0 - ₹1,245 (to 18 Oct 2026) |
| Website | https://www.intellectdesign.com |
Corporate structure and shareholding
| Entity | Holding | Business |
|---|---|---|
| Intellect Design Arena Pte Ltd, Singapore | 100% | Software product development and implementation; overseas holding hub |
| Intellect Design Arena Limited, United Kingdom | 100% | Software products and implementation; UK holding and delivery hub |
| Intellect Design Arena SA, Switzerland | 100% | Software product development and implementation |
| Intellect Design Arena GmbH, Germany | 100% | Software product development and implementation |
| Intellect Design Arena Inc., United States | 100% | Insurance technology and software products; Singapore subsidiary |
| Intellect Design Arena FZ-LLC, Dubai | 100% | Software product development and implementation |
| Sonali Intellect Ltd, Bangladesh | 51% | Software products and implementation; material NCI |
| Digivation Digital Solutions Pvt. Ltd | 41.14% | Digital SME GlobalLinker; consolidated through substantive control rights despite minority legal ownership |
| Digivation World Pte Limited, Singapore | 86% | Software products; Digivation subsidiary; local holding not ultimate group economic interest |
| Intellect Design Arena Inc., Canada | 100% | Software products and implementation incl acquired Central1 digital banking operations; UK subsidiary |
| PT. Intellect Design Arena, Indonesia | 100% | Software product development and implementation; Singapore subsidiary |
| Intellect Design Arena Chile Limitada | 100% | Software products and implementation; UK subsidiary |
| Intellect Polaris Design LLC, USA | 100% | Software product development and implementation |
| Intellect Commerce Limited | 100% | Software product development and implementation |
| Intellect Design Arena Co. Ltd, Vietnam | 100% | Software product development and implementation |
| Design Intellect South Africa | 100% | Software product development and implementation |
| Intellect Design Arena (Mauritius) Ltd | 100% | Software products and implementation; Dubai subsidiary |
| Intellect Design Arena Philippines Inc. | 100% | Software products and implementation; Singapore subsidiary |
| Intellect APX Private Limited | 100% | Software products and implementation; USA subsidiary |
| Intellect Design Arena SDN. BHD., Malaysia | 100% | Software products and implementation; Singapore subsidiary |
| Intellect Payments Limited | 100% | Software product development and implementation |
| Intellect Design Arena Hungary LLC | 100% | Software product development and implementation |
| Intellect Design Arena Arabia Limited, Saudi Arabia | 100% | Software product development and implementation; exists in FY25 comparative, not new FY26 subsidiary |
| Intellect AI Technologies Limited | 100% | Software product development and implementation; formerly Intellect India Limited |
| Intellect Design Arena Pty Ltd, Australia | 100% | Software products and implementation; Singapore subsidiary |
| Intellect Design Arena Limited, Thailand | 100% | Software products and implementation; Singapore subsidiary |
| Intellect Design Arena Limited, Kenya | 100% | Software product development and implementation |
FY26 note45 lists27 subsidiaries. Equity-method associates: Adrenalin eSystems42.34% and NMSWorks42.74%; directors' count3 associates requires reconciliation. Digivation FY25 40% substantive interest vs25.89% legal shares. Project Purple Ventures UK incorporated4Aug2026; intended50:50 FintelJV, not FY26 consolidated subsidiary.
| Shareholding (% of shares) | Q3FY26 | Q4FY26 | Q1FY27 | Q2FY27 |
|---|---|---|---|---|
| Promoter | 29.81% | 29.73% | 29.62% | 29.56% |
| Promoter holding pledged | 0.00% | 0.00% | 0.00% | 0.00% |
| Foreign institutions | 26.60% | 25.57% | 23.51% | 21.40% |
| Domestic institutions | 7.11% | 7.10% | 7.33% | 7.54% |
| of which mutual funds | 6.33% | 6.60% | 6.65% | 6.74% |
| Retail | 14.61% | 15.64% | 16.74% | 18.07% |
| Other | 21.88% | 21.96% | 22.79% | 23.43% |
The promoter holding pledged is a share of the promoter's own holding.
Business model
Intellect sells financial-software IP to banks, insurers and institutions: licence, platform, AMC and implementation. Modular eMACH.ai and Purple Fabric address core modernisation and governed AI; they compete with Temenos, Oracle FLEXCUBE, Finacle, Finastra and in-house builds. Consolidated Ind AS is the economic perimeter; product labels are not statutory segments. Twenty-seven subsidiaries, two identified equity-method associates; the directors' three-associate count remains unresolved.
| Segment | revenue, FY26 (₹ crore) | Share | geographic revenue, FY26 (₹ crore) | Share | management geographic revenue, FY26 (₹ crore) | Share |
|---|---|---|---|---|---|---|
| Only statutory operating segment: software product license/related services | 3,038 | 100.0% | ||||
| Statutory geography: within India (not operating segment) | 517.2 | 17.0% | ||||
| Statutory geography: outside India (not operating segment) | 2,521 | 83.0% | ||||
| Management geography: Americas US/Canada (not segment) | 825.0 | 27.1% | ||||
| Management geography: Europe (not operating segment) | 683.0 | 22.4% | ||||
| Management geography: Middle East/Africa (not operating segment) | 599.0 | 19.7% | ||||
| Management geography: India/South Asia (not statutory India) | 542.0 | 17.8% | ||||
| Management geography: APAC (not operating segment) | 394.0 | 12.9% |
Segments as the company reports them (consolidated); each share is of the segments' sum.
| Peer | Why the dossier compares them |
|---|---|
| Oracle Financial Services Software (OFSS) | Closest listed Indian financial software IP/licence and implementation comparator; higher scale/maturity. |
| Newgen Software Technologies (NEWGEN) | Enterprise software IP, banking clients, licence/subscription/implementation mix. |
| Nucleus Software Exports (NUCLEUS) | Lending and transaction banking product IP with maintenance revenues. |
| Aurionpro Solutions (AURIONPRO) | Banking/payment software and implementation; adjacent infrastructure reduces comparability. |
| Ramco Systems (RAMCOSYS) | Enterprise product IP, subscriptions and R&D capitalisation; different customer domains. |
| Temenos | Global core-banking product IP/SaaS comparator; Swiss listed and different reporting currency. |
Financial databook
| Profit and loss (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Statutory revenue from operations | 1,878 | 2,231 | 2,506 | 2,500 | 3,038 |
| Cost of revenue (vendor classification) * | 276.9 | 1,404 | 1,534 | 1,522 | 1,958 |
| Other operating costs (vendor classification) * | 163.0 | 233.8 | 266.7 | 551.3 | 279.9 |
| EBITDA (vendor classification) * | 541.5 | 520.4 | 616.2 | 604.3 | 727.5 |
| Operating EBIT excluding other income | 417.5 | 366.5 | 402.1 | 374.1 | 371.5 |
| Finance cost | 4.27 | 3.19 | 2.62 | 4.19 | 6.31 |
| Statutory PBT | 413.2 | 363.4 | 461.2 | 443.7 | 460.1 |
| Total statutory tax expense | 62.7 | 94.8 | 138.5 | 109.3 | 116.8 |
| Statutory PAT including NCI | 350.4 | 268.6 | 322.7 | 334.4 | 343.3 |
| Diluted EPS parent owners (₹) | 25.14 | 19.23 | 22.85 | 23.60 | 24.31 |
| Software packages consumables maintenance | 117.4 | 105.1 | 217.4 | ||
| Technical subcontractors | 210.7 | 80.8 | 105.2 | ||
| Travelling expenses | 71.3 | 73.1 | 95.0 | ||
| Business promotion | 60.9 | 46.0 | 60.3 | ||
| Legal and professional fees | 29.7 | 41.4 | 57.1 | ||
| Communication expenses | 31.5 | 10.4 | 12.0 | ||
| Bad debt contract assets and advances written off | 0.62 | 4.85 | 30.6 | ||
| Impairment allowance financial instruments contract assets | 22.8 | 15.8 | 0.00 | ||
| Provision for claims inside other expenses | 23.0 | 0.00 | n.d. | ||
| Office maintenance | 10.1 | 12.0 | 11.9 | ||
| Rates and taxes excluding income taxes | 7.06 | 9.06 | 7.22 | ||
| Power and fuel | 7.53 | 8.41 | 8.10 | ||
| Short-term and low-value lease rent | 2.60 | 7.31 | 8.87 | ||
| Insurance | 5.30 | 4.83 | 4.95 | ||
| Statutory audit fees | 1.02 | 0.85 | 0.85 | ||
| Auditor other services | 0.23 | 0.07 | 0.13 | ||
| Other income | 59.0 | 77.0 | 122.6 | ||
| Employee benefits expense | 1,340 | 1,522 | 1,811 | ||
| Other expenses statutory | 626.7 | 447.2 | 646.7 | ||
| Depreciation and amortisation | 137.2 | 156.4 | 208.9 | ||
| Pre-tax exceptional signed expense | 0.00 | 0.00 | -30.8 | ||
| Share of associate profit or loss signed | 2.71 | -3.27 | 3.09 | ||
| PBT before associates | 458.5 | 447.0 | 457.0 | ||
| Current tax | 140.7 | 101.2 | 119.0 | ||
| Deferred tax signed | -14.8 | 8.05 | -2.20 | ||
| Tax regime exceptional charge | 12.5 | 0.00 | 0.00 | ||
| NCI profit or loss signed | 1.52 | 1.65 | -2.18 | ||
| PAT attributable to parent owners | 321.2 | 332.8 | 345.4 | ||
| Basic EPS parent owners (₹) | 23.72 | 24.29 | 24.99 | ||
| Operating EBITDA excluding other income | 539.3 | 530.5 | 580.4 | ||
| Auditor reimbursements | 0.11 | 0.09 | 0.08 | ||
| Repairs plant | 6.56 | 4.42 | 2.66 | ||
| Repairs other | 3.01 | 4.75 | 5.46 | ||
| Printing stationery | 1.60 | 1.45 | 1.59 | ||
| CSR | 4.92 | 5.54 | 5.10 | ||
| Donations | 0.16 | 0.59 | 1.54 | ||
| Bank charges | 2.89 | 3.52 | 3.45 | ||
| Directors sitting fees | 0.50 | 0.97 | 1.31 | ||
| Miscellaneous expenses | 2.97 | 5.82 | 5.91 | ||
| FX loss other expense | 2.50 | 0.00 | n.d. | ||
| Salaries incentives expensed | 1,163 | 1,335 | 1,577 | ||
| Provident other funds | 74.1 | 79.2 | 103.7 | ||
| Regular gratuity expense | 12.6 | 14.0 | 18.2 | ||
| Other employee benefits | 6.16 | 5.75 | 8.59 | ||
| SBC included employee_cost | 47.4 | 47.2 | 53.3 | ||
| Staff welfare | 36.7 | 40.9 | 50.6 | ||
| Statutory total income revenue plus other income | 2,565 | 2,577 | 3,161 | ||
| Statutory expenses before exceptional and tax | 2,107 | 2,130 | 2,673 | ||
| Separately reported statutory COGS unavailable | n.d. | n.d. | n.d. |
| Balance sheet (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Total equity incl NCI | 1,822 | 2,069 | 2,451 | 2,817 | 3,199 |
| Borrowings including lease liabilities note43 | 20.4 | 27.1 | 44.3 | 71.8 | 158.7 |
| Statutory cash and cash equivalents | 137.8 | 86.0 | 199.8 | 323.9 | 452.4 |
| Trade receivables current plus non-current | 257.2 | 415.8 | 607.5 | 653.1 | 1,018 |
| Total trade payables incl MSME | 256.8 | 268.7 | 267.0 | 211.2 | 236.0 |
| Net property plant and equipment | 16.7 | 16.7 | 155.3 | 162.5 | 178.8 |
| Tangible capital work in progress | 4.34 | 4.59 | 0.98 | 1.88 | 15.0 |
| Total assets | 2,594 | 2,887 | 3,405 | 3,882 | 4,580 |
| Equity attributable to parent owners | 2,439 | 2,786 | 3,170 | ||
| Non-controlling interest equity | 12.3 | 31.0 | 29.1 | ||
| Current trade receivables | 554.3 | 448.5 | 678.7 | ||
| Non-current trade receivables | 53.2 | 204.5 | 339.2 | ||
| Revenue accrued and not billed contract assets | 775.1 | 859.9 | 756.9 | ||
| Billing in excess and customer advances | 229.7 | 258.4 | 334.5 | ||
| Other current bank balances | 4.52 | 3.62 | 38.6 | ||
| Non-current bank balances | 178.9 | 208.6 | 188.2 | ||
| Current treasury investments | 111.8 | 203.3 | 360.4 | ||
| Non-current investments excluding associates | 280.6 | 281.5 | 217.5 | ||
| Unsecured bank overdraft excluding leases | 0.01 | 0.00 | 0.00 | ||
| Total lease liabilities note41 | 44.3 | 71.8 | 158.7 | ||
| Other intangible assets net | 315.2 | 428.0 | 498.2 | ||
| Intangible assets under development | 372.9 | 305.3 | 283.4 | ||
| Right-of-use assets | 50.7 | 78.3 | 149.8 | ||
| Carrying value of equity-method associates | 56.9 | 53.6 | 56.7 | ||
| Net debt incl leases less cash banks treasury investments | -731.3 | -949.1 | -1,098 | ||
| Current lease liabilities | 11.6 | 17.9 | 32.7 | ||
| Non-current lease liabilities | 32.7 | 53.9 | 126.0 |
| Cash flow (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations after tax | 349.5 | 86.4 | 410.1 | 431.4 | 510.5 |
| Free cash flow (vendor definition) * | 323.7 | 8.51 | 237.2 | 259.5 | 291.0 |
| Cash dividends positive outlay excluding NCI | -0.82 | -35.1 | 33.7 | 48.2 | 96.3 |
| Cash PPE plus intangibles incl product development positive outlay | -118.6 | -165.7 | 173.0 | 171.8 | 219.5 |
| Cash from investing signed | -254.7 | -244.6 | -272.3 | ||
| Cash from financing signed | -49.0 | -63.3 | -113.2 | ||
| NCI cash dividends positive outlay | 0.00 | 0.00 | 1.34 | ||
| Lease payments positive outlay | 16.9 | 18.2 | 16.7 | ||
| Net short-term borrowing flow signed | 0.01 | -0.01 | 0.00 | ||
| CFO less cash capex incl capitalised development | 237.2 | 259.5 | 291.0 |
| Other reported lines (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Actual issued year-end equity shares | 13.30 | 13.43 | 13.68 | 13.89 | 13.97 |
| Research expenditure expensed statutory note40 | 198.1 | 207.9 | 235.9 | ||
| Development cost accrual additions NOT extra cash capex | 137.0 | 138.9 | 162.7 | ||
| Opening intangible assets under development | 365.6 | 372.9 | 305.3 | ||
| Translation adjustment on development assets | 3.52 | 5.16 | 11.8 | ||
| Transfer development to completed intangible assets | 133.2 | 211.7 | 196.5 | ||
| Total amortisation of intangible assets | 99.6 | 114.4 | 157.7 | ||
| Salaries capitalised into product development | 103.2 | 99.7 | 124.4 | ||
| Licence cost capitalised into development | 2.69 | 0.30 | 0.64 | ||
| Direct overheads capitalised into development | 31.1 | 38.9 | 37.7 | ||
| Unexecuted capital commitments net of advances | 5.29 | 0.30 | 12.1 | ||
| Financial bank guarantees backed by margin deposits | 3.71 | 4.78 | 12.9 | ||
| Statutory operating EBITDA excluding other income | 539.3 | 530.5 | 580.4 | ||
| Basic EPS weighted average shares | 13.54 | 13.70 | 13.82 | ||
| Diluted EPS weighted average shares | 14.06 | 14.10 | 14.21 | ||
| Broad cash bank balances and treasury investments | 775.6 | 1,021 | 1,257 | ||
| Adrenalin total share of loss before recognition cap | -10.5 | ||||
| Adrenalin recognised share of loss carrying-value cap | -2.10 | ||||
| Adrenalin current advances balance not loan flow | 4.30 | 3.15 | 4.24 | ||
| CFO divided by group PAT (x) | 1.27x | 1.29x | 1.49x | ||
| Development additions divided by research plus development (%) | 40.9% | 40.1% | 40.8% | ||
| Year-end current plus noncurrent receivables over revenue times365 (days) | 88 | 95 | 122 | ||
| Year-end total billed plus unbilled balances over revenue times365 (days) | 201 | 221 | 213 | ||
| Disputed tax contingents divided by parent owners equity (%) | 7.7% | 4.0% | 1.0% | ||
| Net operating working capital revenue days | 129 | 152 | 145 | ||
| Other income as share of PBT (%) | 12.8% | 17.4% | 26.6% |
| Quarterly profit and loss (₹ crore) | Q2FY25 | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|---|---|---|---|
| Statutory revenue from operations | 558.1 | 609.6 | 725.9 | 701.7 | 758.1 | 731.4 | 847.0 | 845.2 |
| Operating EBIT excludes other income and exceptional items | 42.2 | 79.1 | 162.8 | 95.2 | 104.7 | 47.0 | 124.7 | 108.6 |
| Finance cost statutory | 1.16 | 1.02 | 0.99 | 1.39 | 1.35 | 1.44 | 2.13 | 1.24 |
| Statutory profit before tax after associates and exceptional | 69.8 | 93.7 | 182.1 | 125.2 | 135.8 | 37.0 | 162.1 | 135.2 |
| Statutory total income tax expense | 17.3 | 22.9 | 45.7 | 31.5 | 33.8 | 9.55 | 41.9 | 33.3 |
| Statutory consolidated total PAT including NCI | 52.5 | 70.8 | 136.4 | 93.7 | 101.9 | 27.4 | 120.2 | 101.8 |
| Statutory diluted EPS not annualised (₹) | 3.73 | 4.94 | 9.56 | 6.65 | 7.18 | 2.00 | 8.48 | 7.19 |
| Cost of goods sold (not separately disclosed) | n.d. | n.d. | n.d. | n.d. | n.d. | n.d. | n.d. | n.d. |
| Employee benefits expense including ESOP | 372.2 | 374.6 | 410.2 | 416.0 | 448.3 | 450.3 | 496.5 | 516.7 |
| Other expenses statutory nature classification | 104.9 | 116.3 | 111.4 | 142.4 | 156.4 | 180.9 | 167.1 | 162.3 |
| Operating EBITDA excludes other income; includes ESOP cost | 81.0 | 118.8 | 204.2 | 143.3 | 153.5 | 100.3 | 183.4 | 166.2 |
| Other income statutory | 28.5 | 15.2 | 22.6 | 32.7 | 30.8 | 21.6 | 37.5 | 28.1 |
| Depreciation and amortisation | 38.8 | 39.6 | 41.4 | 48.1 | 48.8 | 53.2 | 58.7 | 57.6 |
| Exceptional signed contribution to profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -30.8 | 0.00 | 0.00 |
| Share of associates profit or loss net of tax signed | 0.20 | 0.45 | -2.29 | -1.26 | 1.61 | 0.62 | 2.13 | -0.28 |
| Statutory PAT attributable to owners of parent | 52.8 | 70.2 | 135.3 | 94.5 | 102.3 | 28.4 | 120.2 | 102.1 |
| PAT attributable to NCI signed | -0.33 | 0.61 | 1.08 | -0.79 | -0.35 | -1.03 | -0.01 | -0.25 |
| Current income tax expense | 13.9 | 22.8 | 42.2 | 31.2 | 34.2 | 16.7 | 36.8 | 31.4 |
| Deferred tax charge or benefit signed | 3.37 | 0.14 | 3.53 | 0.30 | -0.35 | -7.18 | 5.03 | 1.98 |
Consolidated, as reported. Lines marked * are the market-data provider's figures; the rest are extracted from the company's filings or derived from them. n.d. not disclosed, n.r. not retrieved, n.a. not applicable.
Metrics dashboard
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue growth | 25.4% | 18.8% | 12.3% | -0.3% | 21.5% |
| EBITDA margin | 21.5% | 21.2% | 19.1% | ||
| Net margin | 12.8% | 13.3% | 11.4% | ||
| Return on equity | 14.2% | 12.6% | 11.5% | ||
| Return on capital employed | 25.1% | 18.6% | 17.5% | 13.9% | 11.9% |
| Return on assets | 10.2% | 9.1% | 8.2% | ||
| Net debt (₹ crore) | -731.3 | -949.1 | -1,098 | ||
| Net debt / EBITDA | -1.36x | -1.79x | -1.89x | ||
| Interest cover | 97.8x | 114.9x | 153.5x | 89.4x | 58.9x |
| Asset turnover | 0.81x | 0.81x | 0.80x | 0.69x | 0.72x |
| Receivable days | 50 | 68 | 88 | 95 | 122 |
| Payable days (on revenue) | 50 | 44 | 39 | 31 | 28 |
| Cash conversion | 1.28x | 1.30x | 1.48x | ||
| Capex intensity | 6.3% | 7.4% | 6.9% | 6.9% | 7.2% |
| Free cash flow (₹ crore) | 230.9 | -79.3 | 237.2 | 259.5 | 291.0 |
| Dividend payout | 10.5% | 14.5% | 27.9% | ||
| EPS, diluted (₹) | 25.14 | 19.23 | 22.85 | 23.60 | 24.31 |
| Book value per share (₹) | 137.0 | 154.0 | 179.1 | 202.9 | 229.0 |
Computed from the statements above:
- Revenue growth: revenue over the previous year's, less one.
- EBITDA margin: EBITDA (Operating EBITDA excluding other income) / revenue.
- Net margin: net profit to owners / revenue.
- Return on equity: net profit to owners / average equity.
- Return on capital employed: EBIT / average equity plus borrowings.
- Return on assets: net profit to owners / average total assets.
- Net debt (₹ crore): Net debt incl leases less cash banks treasury investments; negative is net cash.
- Net debt / EBITDA: net debt / EBITDA (Operating EBITDA excluding other income).
- Interest cover: EBIT / finance cost.
- Asset turnover: revenue / average total assets.
- Receivable days: receivables / revenue x 365.
- Payable days (on revenue): payables / revenue x 365.
- Cash conversion: cash from operations / net profit to owners.
- Capex intensity: capital expenditure / revenue.
- Free cash flow (₹ crore): cash from operations less capital expenditure.
- Dividend payout: dividends paid / net profit to owners.
- EPS, diluted (₹): as reported (Diluted EPS parent owners).
- Book value per share (₹): equity / shares outstanding.
Source: the company's filings and disclosures as extracted into Mool's company dossier (version 1, information to 18 Oct 2026); market data at the close of 18 Oct 2026. Every figure is read from the dossier's files or computed from them; the account of the business model is the analyst's, from the dossier's workings.
With Individual or above
What the full research on Intellect Design Arena includes
Every piece of Mool’s research is built the same way: a researched evidence base, analyses that build on each other, a research model and a report with the call. This page shows the first analysis.
The report and Mool’s call
- The 12-month rating and target
- The 3-month view
- Mool's estimates beside the street's
- The claims the view rests on, and what would change it
The analyses, among them
- Business model & financial foundationOn this pageWhat the company does and how it makes money, its structure, five years of financials and the metrics that matter for it.
- Future earnings & financial modelForecasts built from the drivers that move the business, by scenario, beside the street's.
- Fundamental valuation & 12-month thesisWhat the business is worth on several methods, what the market already prices in and the 12-month thesis that follows.
The research model
The model behind the report: the company’s history, the drivers that move it, its forecasts by scenario and the valuation the 12-month target comes from.
See Mool’s call and the full research
Individual or above opens every piece of research Mool has published. A new account can start with 10 days of Pro, or of Firm on a work email address. No card needed.
Report history
Reports on Intellect Design Arena
- Research reportLatest
Same sector
More research in Technology
Infosys Ltd.
NSE: INFY
Technology · Information Technology Services
₹1,185.00 last close on 30 Oct 2026 +3.36%Research updated
HCL Technologies Limited
NSE: HCLTECH
Technology · Information Technology Services
₹1,428.10 last close on 30 Oct 2026 +1.72%Research updated
Wipro Ltd.
NSE: WIPRO
Technology · Information Technology Services
₹198.31 last close on 30 Oct 2026 +4.32%Research updated
Tech Mahindra Ltd.
NSE: TECHM
Technology · Information Technology Services
₹1,790.80 last close on 30 Oct 2026 +1.20%Research updated
LTIMindtree Ltd
NSE: LTM
Technology · Information Technology Services
₹4,233.50 last close on 30 Oct 2026 +3.39%Research updated
Prices are the last close on the NSE, 30 Oct 2026. Research from Mool’s report of 18 Oct 2026; page updated 2 Nov 2026.
Mool’s research is written by AI agents and published by Mool Capital Private Limited, a SEBI-registered Research Analyst, registration INH000012449, which is responsible for it. This page shows factual company information and an excerpt of that research; it carries no rating and is not investment advice for any individual. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Read the disclosures.