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SummaryLatest NewsSector ComparisonEarnings ReportRevenue & GrowthPeersIncome StatementBalance SheetCash Flow
SIGMA logo

SIGMA - SIGMA SOLVE LIMITED Share Price

IT - Services
Sharesguru Stock Score

SIGMA

80/100

High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years

₹44.97-0.86(-1.88%)
Market Open as of Sep 10, 2026, 15:30 IST
Pros

Smart Money: Smart money has been increasing their position in the stock.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Balance Sheet: Strong Balance Sheet.

Growth: Good revenue growth. With NA% growth over past three years, the company is going strong.

Technicals: Bullish SharesGuru indicator.

Profitability: Very strong Profitability. One year profit margin are 29%.

Cons

Past Returns: In past three years, the stock has provided 4.6% return compared to 6.9% by NIFTY 50.

Momentum: Stock has a weak negative price momentum.

Size: It is a small market cap company and can be volatile.

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)

Sharesguru Stock Score

SIGMA

80/100

High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years

Valuation

Market Cap479.55 Cr
Price/Earnings (Trailing)19.01
Price/Sales (Trailing)4.38
EV/EBITDA11.14
Price/Free Cashflow15.82
MarketCap/EBT11.63
Enterprise Value472.9 Cr

Fundamentals

Revenue (TTM)109.41 Cr
Rev. Growth (Yr)40.4%
Earnings (TTM)31.29 Cr
Earnings Growth (Yr)146.6%

Profitability

Operating Margin38%
EBT Margin38%
Return on Equity40.59%
Return on Assets35.07%
Free Cashflow Yield6.32%

Growth & Returns

Price Change 1W-1.3%
Price Change 1M-1.7%
Price Change 6M19.9%
Price Change 1Y7.1%
3Y Cumulative Return4.6%
5Y Cumulative Return-12.3%

Cash Flow & Liquidity

Cash Flow from Investing (TTM)-21.7 Cr
Cash Flow from Operations (TTM)30.5 Cr
Cash Flow from Financing (TTM)-2.56 Cr
Cash & Equivalents8.67 Cr
Free Cash Flow (TTM)30.31 Cr
Free Cash Flow/Share (TTM)2.95

Balance Sheet

Total Assets89.22 Cr
Total Liabilities12.13 Cr
Shareholder Equity77.09 Cr
Current Assets33.04 Cr
Current Liabilities6.31 Cr
Net PPE6.34 Cr
Inventory1.62 Cr
Goodwill0.00

Capital Structure & Leverage

Debt Ratio0.02
Debt/Equity0.03
Interest Coverage123.31
Interest/Cashflow Ops92.92

Dividend & Shareholder Returns

Dividend/Share (TTM)0.05
Dividend Yield0.12%
Shares Dilution (1Y)0.00%
Shares Dilution (3Y)0.00%
Pros

Smart Money: Smart money has been increasing their position in the stock.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Balance Sheet: Strong Balance Sheet.

Growth: Good revenue growth. With NA% growth over past three years, the company is going strong.

Technicals: Bullish SharesGuru indicator.

Profitability: Very strong Profitability. One year profit margin are 29%.

Cons

Past Returns: In past three years, the stock has provided 4.6% return compared to 6.9% by NIFTY 50.

Momentum: Stock has a weak negative price momentum.

Size: It is a small market cap company and can be volatile.

The Good, Bad and Ugly
Growth
Measures how quickly a company is expanding through metrics like revenue growth, earnings growth, and cash flow growth over time. Strong growth can indicate future potential.
Profitability
Shows how efficiently a company turns business activities into profit, using metrics like profit margins, return on equity (ROE), and return on assets (ROA).
Size
Indicates the company's market presence through metrics like market capitalization, total assets, and revenue. Size can influence stability and market influence.
Dilution Rank
Tracks how much the company's shares have increased or decreased over time. Lower dilution means existing shareholders maintain stronger ownership stakes.
Balance Sheet
Evaluates the company's financial health by analyzing assets, debts, and equity. A strong balance sheet indicates financial stability and flexibility.
Momentum
Measures the strength and speed of price movements, showing whether the stock is gaining or losing market favor over different time periods.
Technicals
Analyzes price patterns, trading volumes, and other market indicators to identify potential trading opportunities and market trends.
Smart Money
Tracks the investment activities of institutional investors, hedge funds, and other large financial players who often have deep research capabilities.
Insider Trading
Monitors buying and selling of company shares by executives, directors, and other insiders who may have unique insights into the company's prospects.

Investor Care

Dividend Yield0.12%
Dividend/Share (TTM)0.05
Shares Dilution (1Y)0.00%
Earnings/Share (TTM)2.46

Financial Health

Current Ratio5.24
Debt/Equity0.03

Technical Indicators

RSI (14d)58.25
RSI (5d)42.49
RSI (21d)47.31
MACD SignalSell
Stochastic Oscillator SignalHold
SharesGuru SignalBuy
RSI SignalHold
RSI5 SignalHold
RSI21 SignalHold
SMA 5 SignalSell
SMA 10 SignalSell
SMA 20 SignalSell
SMA 50 SignalBuy
SMA 100 SignalBuy

Summary of Latest Earnings Report from SIGMA SOLVE

Summary of SIGMA SOLVE's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

The management of Sigma Solve Limited provided a positive outlook, targeting $30 million in revenue over the next four years with a 30% YoY growth trajectory. Key highlights include:

  1. Growth Drivers:

    • Strategic Collaborations: Partnerships in logistics (CRM, transport management) and aircraft spare parts sectors expected to contribute 5% revenue growth each.
    • AI/ML Solutions: Advanced AI-based projects anticipated to add 5% revenue increment.
    • Domain Focus: Deep expertise in logistics (current 7"“8% revenue contribution), construction tech, and automation to avoid commoditization.
  2. Geographic Expansion:

    • US Market: Hybrid model (US leadership + India execution) for market access; sales/marketing teams driving lead generation.
    • Europe: Exploring logistics opportunities in the Netherlands/Portugal.
  3. Financial Performance:

    • 9MFY24: Revenue up 16% YoY (Rs.488M), EBITDA up 26% (Rs.203M), PAT up 20% (Rs.140M). Margins maintained at 42% EBITDA, 29% PAT.
    • Recurring Revenue: 65% of total, ensuring stability.
  4. Operational Strategies:

    • Microsoft Dynamics: New practice to address ERP needs of growing clients.
    • Margin Retention: Solution-focused (not "body shop") approach; leveraging domain-specific IP.
    • Inorganic Growth: Exploring acquisitions in Dynamics and execution-focused Indian firms.
  5. Risk Mitigation: Conservative growth projections, focus on client retention (90%+), and recurring revenue models.

Question 1:
What kind of demand can we expect going forward? When would we be able to achieve our guidance of $30 million of top line?
Answer:
The company aims to achieve $30 million in revenue over 4 years via 30% YoY growth. Current demand is stable, with Q3 growth at 12% YoY. The US sales team's stabilization and strategic engagements are expected to drive higher growth (20%+) in subsequent quarters, assuming favorable market conditions.

Question 2:
What strategy has the company employed to maintain or improve profit margins amidst market fluctuations?
Answer:
Margins are maintained by focusing on niche domains (e.g., logistics, construction tech) to avoid commoditization. Reusing domain-specific software solutions reduces development costs and enables easier sales. Recurring revenue (65% of total) from perpetual licenses and client retention (>90%) further supports margins.

Question 3:
How will the company competitively position itself using AI amid rising adoption in the IT sector?
Answer:
Sigma positions itself as a solutions provider, not a body shop, integrating AI into domain-specific offerings (e.g., logistics route optimization). This approach adds value to clients' operational efficiency without direct competition in AI-driven commoditized services.

Question 4:
How does Sigma differentiate itself from tech giants in the competitive landscape?
Answer:
Leveraging a "US-first" hybrid model (US market access with Indian delivery) and deep domain expertise allows Sigma to compete with larger firms. Focus on mid-sized deals ($250K average) and tailored solutions for industries like logistics and construction tech drives differentiation.

Question 5:
Can you elaborate on the revenue-sharing model based on IP?
Answer:
IP-driven products contribute 5-7% of revenue, primarily through perpetual licenses rather than SaaS. Domain-specific solutions (e.g., logistics TMS) are sold as recurring licenses, balancing client cost concerns with long-term revenue stability.

Question 6:
What is the revenue contribution from key sectors like logistics, and what are other focus areas?
Answer:
Logistics contributes 7-8% of revenue. Other verticals include construction tech (project lifecycle software) and process automation. A new Microsoft Dynamics practice is being developed to address evolving ERP needs of growing clients.

Question 7:
How is the company planning workforce expansion over the next year?
Answer:
Employee strength targets 350"“400 (currently 240"“250), with increased hiring in the US for solution architects and sales roles. Investments in European markets (Netherlands, Scandinavia) are planned, leveraging logistics expertise.

Question 8:
What is the current client concentration and new client addition trend?
Answer:
Top client contributes ~10%, with the top 5 clients accounting for ~40% of revenue. Q3 saw 10"“14 new clients. Recent QA automation initiatives contribute minimally (2-3% revenue), while bookkeeping collaborations are underdeveloped.

Question 9:
What is the order book visibility and margin outlook?
Answer:
FY24 order pipeline is $3.6M, aligning with 30% growth targets. Margins (~39% EBITDA, ~28% PAT) are expected to hold via recurring revenue, domain focus, and operational efficiency. Client retention (90%+) minimizes churn risks.

Question 10:
Are inorganic growth or acquisitions being considered?
Answer:
Acquisition targets include Dynamics-focused firms or India-based execution partners to complement US market access. Valuation discipline is prioritized amid inflated market expectations. Dividends will continue based on profitability.

Share Holdings

Understand SIGMA SOLVE ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Share Holding Details

Shareholder NameHolding %
Prakash Ratilal Parikh20.8%
Kalpana Prakashbhai Parikh20.78%
Biren Harshad Zaverchand15.81%
Pujan Biren Zaverchand15.81%
Binaben Janakbhai Shah4.12%
Angat Godiwala2.41%
Divyaprabhaben Pravinbhai Shah1.33%
Darshanaben Rajulbhai Chokshi0%
Deepak Navinchandra Choksi0%
Pintu Nitin Patel0%
Shivang Rajulbhai Chokshi0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Is SIGMA SOLVE Better than it's peers?

Detailed comparison of SIGMA SOLVE against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker
Name
Mkt Cap
Revenue
Price %, 1M
Returns, 1Y
P/E
P/S
Rev 1-Yr
Inc 1-Yr

Income Statement for SIGMA SOLVE

Consolidated figures (in Rs. Crores) /
Description(%) Q/QMar-2026Mar-2025Mar-2024
Revenue From Operations26.7%967665
Other Income797.5%4.591.43.54
Total Income28.6%1007869
Cost of Materials54.4%149.426.05
Employee Expense23.3%383129
Finance costs-8.5%0.360.410.32
Depreciation and Amortization-340%0.881.051.09
Other expenses44.4%14106.89
Total Expenses33.3%695243
Profit Before exceptional items and Tax24%322625
Total profit before tax24%322625
Current tax145.5%7.213.535.95
Deferred tax-125.1%0.483.07-0.07
Total tax19.5%7.696.65.88
Total profit (loss) for period27.8%241919
Other comp. income net of taxes986.5%4.280.630.29
Total Comprehensive Income42.1%282020
Earnings Per Share, Basic54%2.321.8573.14
Earnings Per Share, Diluted54%2.321.8573.14
Description(%) Q/QJun-2026Mar-2026Dec-2025Sep-2025Jun-2025Dec-2024
Revenue From Operations-8.3%232525262120
Other Income545.3%8.97-0.791.671.572.140.19
Total Income34.8%322426272320
Cost of Materials-33.6%3.574.874.182.692.672.71
Employee Expense5.7%9.348.898.7711107.8
Finance costs-1.1%0.040.050.060.180.070.08
Depreciation and Amortization-1.3%0.190.20.240.220.210.27
Other expenses-34%2.383.093.944.732.73.08
Total Expenses-6.2%161717181614
Profit Before exceptional items and Tax160.4%166.769.218.86.835.84
Total profit before tax160.4%166.769.218.86.835.84
Current tax175.2%3.55-2.394.183.142.290.93
Deferred tax-123.3%0.353.79-1.68-0.99-0.650.69
Total tax625%3.91.42.512.151.641.61
Total profit (loss) for period175.2%135.366.76.655.14.7
Other comp. income net of taxes-183.3%-0.052.260.731.37-0.080.47
Total Comprehensive Income81%137.637.438.025.015.17
Earnings Per Share, Basic145.8%1.220.520.650.0650.5040.822
Earnings Per Share, Diluted145.8%1.220.520.650.0650.5040.822
Standalone figures (in Rs. Crores) /
Description(%) Q/QMar-2026Mar-2025Mar-2024
Revenue From Operations22.6%393228
Other Income409.1%1.680.781.01
Total Income21.9%403329
Employee Expense26.3%252019
Finance costs-8.5%0.360.410.32
Depreciation and Amortization-62.5%0.870.920.8
Other expenses35.5%4.553.623.23
Total Expenses25%312523
Profit Before exceptional items and Tax31.8%9.427.395.65
Total profit before tax31.8%9.427.395.65
Current tax78.2%2.551.871.28
Deferred tax-0.9%-0.07-0.060.16
Total tax80.5%2.481.821.44
Total profit (loss) for period30.2%6.955.574.21
Other comp. income net of taxes15.3%0.170.020
Total Comprehensive Income33.3%7.125.594.21
Earnings Per Share, Basic30.1%0.680.5420.41
Earnings Per Share, Diluted30.1%0.680.5420.41
Description(%) Q/QJun-2026Mar-2026Dec-2025Sep-2025Jun-2025Dec-2024
Revenue From Operations-7.4%8.41910118.587.96
Other Income39.6%0.680.470.350.290.570.14
Total Income-4.5%9.099.4711119.158.11
Employee Expense-4.4%5.325.526.076.936.485.16
Finance costs-1.1%0.040.050.060.180.070.08
Depreciation and Amortization-1.3%0.190.20.240.220.210.24
Other expenses-92.6%1.041.541.350.960.71.16
Total Expenses-11.4%6.597.317.728.297.466.63
Profit Before exceptional items and Tax28.2%2.52.172.942.631.691.47
Total profit before tax28.2%2.52.172.942.631.691.47
Current tax16.9%0.510.411.040.750.350.48
Deferred tax18.9%0.1-0.110-0.050.09-0.09
Total tax44.3%0.610.31.040.70.440.39
Total profit (loss) for period2.3%1.891.871.91.931.181.09
Other comp. income net of taxes-6.2%-0.020.040.150.04-0.07-0.01
Total Comprehensive Income-4.4%1.871.912.051.971.111.08
Earnings Per Share, Basic0%0.180.180.180.0190.1220.21
Earnings Per Share, Diluted0%0.180.180.180.0190.1220.21

Balance Sheet for SIGMA SOLVE

Consolidated figures (in Rs. Crores) /
Description(%) Q/QMar-2026Sep-2025Mar-2025Sep-2024Mar-2024Sep-2023
Cash and cash equivalents436.4%8.672.432.434.197.252.86
Current investments-350%01.41.40.910.8848
Loans, current-1%00.010.010.010.040
Total current financial assets-9.1%313434212362
Inventories-1.6200000
Current tax assets-12.7%0.290.370.370-0
Total current assets-5.9%333535222363
Property, plant and equipment-10.6%6.346.976.977.457.828.41
Investment property157.1%371515-00
Non-current investments-004.7506.020
Loans, non-current-00002.970
Total non-current financial assets-1304.752.968.992.93
Total non-current assets111.5%562727261711
Total assets44.3%896262484075
Borrowings, non-current-112.5%0.891.881.882.383.864.35
Total non-current financial liabilities-112.5%0.891.881.882.384.064.35
Provisions, non-current-00000.530.47
Total non-current liabilities-0.8%5.825.865.863.344.595.1
Borrowings, current-83.1%1.131.771.771.690.981.18
Total current financial liabilities-14.9%4.034.564.563.991.794.26
Provisions, current20.2%0.330.160.160.140.122.43
Current tax liabilities206.5%1.951.311.312.280.210.9
Total current liabilities1.7%6.316.226.226.525.197.73
Total liabilities0%1212129.859.7813
Equity share capital0%101010101010
Non controlling interest-0.03000-20
Total equity58.3%774949383062
Total equity and liabilities44.3%896262484075
Standalone figures (in Rs. Crores) /
Description(%) Q/QMar-2026Sep-2025Mar-2025Sep-2024Mar-2024Sep-2023
Cash and cash equivalents609.2%5.990.020.090.020.010.02
Current investments-000002.19
Loans, current-000.010.0100
Total current financial assets-25%101312118.58.81
Current tax assets-0-0.220-0
Total current assets-25%101313118.89.37
Property, plant and equipment-5.5%6.336.646.977.397.668.1
Capital work-in-progress-44.9%00.3100-0
Investment property-150.5%02.98-0-0
Non-current investments-002.83.1502.79
Loans, non-current-004.75000
Total non-current financial assets-69.6%2.796.89106.12.975.73
Total non-current assets26.3%252017161614
Total assets6.2%353330272523
Borrowings, non-current-131.6%0.881.381.882.373.864.35
Total non-current financial liabilities-123.1%0.881.521.882.375.094.35
Provisions, non-current-1328.6%00.930.730.6400.47
Total non-current liabilities-54.2%1.822.792.763.335.884.91
Borrowings, current-84.3%1.111.71.761.6801.17
Total current financial liabilities-36.2%3.334.653.983.610.123.6
Provisions, current14.8%0.310.190.160.140.530.11
Current tax liabilities385%1.570.81.270.10.210.79
Total current liabilities-12.8%5.215.835.594.472.434.64
Total liabilities-20.9%7.038.628.367.818.329.55
Equity share capital0%101010101010
Total equity17.4%282422191614
Total equity and liabilities6.2%353330272523

Cash Flow for SIGMA SOLVE

Consolidated figures (in Rs. Crores) /
Finance costs-8.5%
Depreciation-340%
Impairment loss / reversal-
Unrealised forex losses/gains1088.6%
Dividend income-
Adjustments for interest income-
Net Cashflows from Operations71.4%
Interest received-12.4%
Income taxes paid (refund)105.1%
Other inflows (outflows) of cash16.7%
Net Cashflows From Operating Activities70.6%
Purchase of property, plant and equipment-1.3%
Proceeds from sales of investment property-
Purchase of investment property-112.1%
Proceeds from sales of long-term assets-
Purchase of other long-term assets-
Dividends received-
Interest received120.7%
Other inflows (outflows) of cash-73.9%
Net Cashflows From Investing Activities-4.5%
Proceeds from borrowings-
Repayments of borrowings-294.4%
Payments of lease liabilities-
Dividends paid0%
Interest paid-69.5%
Other inflows (outflows) of cash-
Net Cashflows from Financing Activities-14.8%
Effect of exchange rate on cash eq.-
Net change in cash and cash eq.190%
Standalone figures (in Rs. Crores) /
Finance costs-8.5%
Depreciation-62.5%
Unrealised forex losses/gains-
Dividend income-
Adjustments for interest income23.2%
Net Cashflows from Operations-7.7%
Income taxes paid (refund)557.9%
Other inflows (outflows) of cash1%
Net Cashflows From Operating Activities-16.7%
Purchase of property, plant and equipment-6.5%
Proceeds from sales of investment property-
Purchase of investment property-1%
Purchase of intangible assets-
Purchase of other long-term assets-
Dividends received-
Interest received-35.1%
Other inflows (outflows) of cash91.7%
Net Cashflows From Investing Activities-
Proceeds from borrowings-
Repayments of borrowings-626.3%
Payments of lease liabilities-
Dividends paid0%
Interest paid-10.2%
Other inflows (outflows) of cash-
Net Cashflows from Financing Activities-14.5%
Effect of exchange rate on cash eq.-
Net change in cash and cash eq.907.5%

What does SIGMA SOLVE LIMITED do?

IT Enabled Services•Information Technology•Small Cap

Sigma Solve Limited, together with its subsidiary, Sigma Solve INC, engages in the enterprise software development business worldwide. The company offers IT and turnkey consultancy services to customers in its business domain. It also provides Web and E-commerce development, real time application development, business intelligence analytics, CRM development, digital marketing, UI and UX design, automation testing, quality assurance, software development, enterprise and ERP solutions, and cloud solutions services. In addition, the company offers various plugins, including MAGNETO, nopCommerce, PRESTASHOP, and WORDPRESS. Sigma Solve Limited was incorporated in 2010 and is based in Ahmedabad, India.

Industry Group:IT - Services
Employees:224
Website:sigmasolve.in

Important Disclosure & Data Context

This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.