C-Edge Technologies Limited

Key Metrics of C-Edge Technologies Limited

Revenue₹693 Cr▲ 18.1% YoYFY 2025-26

EBITDA₹258 Cr▲ 14.7% YoY

Net profit₹166 Cr▲ 8.1% YoY

Net worth—

Competitors10identified

About C-Edge Technologies Limited

Sectors

IT Services & SoftwareIndian IT Services

Company details

Registered office: Palm Centre, Banyan Park,, Suren Road,andheri East,, Mumbai, In-mh, 400093

Operational Areas of C-Edge Technologies Limited

IT Services & Software›Indian IT Services

Company summary

Entity details

CINU72900MH2006PLC159038

LEI code335800MTIECO4XKICN12

State codeMH

PIN code400093

Current legal nameC-EDGE TECHNOLOGIES LIMITED

Classification—

Listing statusUnlisted

Registration no.159038

Company age—

PAN—

CountryIndia

CityMumbai

StateMaharashtra

Current statusActive

Date of incorporation—

Registrar of companies—

Authorised capital—

Paid-up capital—

Employee count—

Compliance

Last AGM date—

Last balance sheet—

Next filing dueAOC-4 for FY 2025-26 · 30 Oct 2026

Industry classification

NIC code72900

Description of main activityComputer and related activities (software, IT services)

Description of business activityComputer and related activities (software, IT services)

SectorIT Services & Software · Indian IT Services

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Financials, ratios and risk analysis

Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.

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Filing compliance

AGM for FY 2025-2630 Sep 2026 Statutory due date passed

AOC-4 for FY 2025-2630 Oct 2026 Statutory due date · 4 days left

MGT-7 for FY 2025-2629 Nov 2026 Statutory due date · 34 days left

Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.

Vendor checks & payment capacity

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Credit ratings

ICRA · 21 Oct 2026 ICRA AA- Stable outlook · Short term A1+ · Reaffirmed

Change in last 12 months—

Change since first rating on record—since Oct 2026

Rating actions10 up · 0 down

Liquidity (ICRA)Strong

Rating history

Rating actions

Date	Agency	Action	Long term	Short term	Outlook	Rated amount	Rationale
21 Oct 2026	ICRA	Reaffirmed	AA-	A1+	Stable	₹20.0 Cr	View

Credit strengths (ICRA, Oct 2026)

+ Strong parent support; strengths arising from being a joint enterprise of TCS and SBI

The company is a 51:49 JV between TCS and SBI.

+ Domain expertise and established market position in ASP-based CBS, coupled with digital offering, ensure repeat revenue

The company is a dominant player in the SAAS/ASP-based CBS market, servicing more than 175 banks.

+ Strong financial profile

C-Edge’s financial profile remains strong, characterised by steady revenue growth, net-debt negative status and healthy earnings as well as liquidity position.

Credit challenges

—

Could lead to an upgrade

ICRA could upgrade C-Edge’s long-term rating if the company is able to significantly scale up its operations, while maintaining its profitability and credit metrics.

Could lead to a downgrade

Pressure on C-Edge’s ratings may arise in case of deterioration in the credit profile of the parent companies or if there is a considerable decline in the scale of operations or profitability or weakening of its

Agency-reported financials (ICRA, 21 Oct 2026)

Metric	FY2025	FY2026
Operating income (OI)	₹587 Cr	₹693 Cr
PAT	₹154 Cr	₹166 Cr
OPBDIT/OI	38.3%	37.2%
PAT/OI	26.2%	24.0%
Total outside liabilities/Tangible net worth (times)	0.30×	0.30×
Total debt/OPBDIT (times)	0.10×	0.10×
Interest coverage (times)	94.90×	83.80×
Revenue growth (YoY)	—	18.1%
EBITDA (margin × income)	₹225 Cr	₹258 Cr
Implied total debt (debt/EBITDA × EBITDA)	₹22.49 Cr	₹25.79 Cr
Implied interest cost (EBITDA ÷ coverage)	₹2.37 Cr	₹3.08 Cr

Borrowings & rated debt

Rated borrowing limits (latest)₹20.0 Cr

Limits raised0 times0 new facilities rated

Facility mix

Rated facilities

Facility	Type	Previous	Current	Change	Rating	Action	Agency
Long-term/Short-term – Non-fund based – Bank guarantee	Non-fund based limits	₹20.0 Cr	₹20.0 Cr	0.0%	AA- / A1+ (Stable)	Reaffirmed	ICRA

Credit assessment · Services

Rating Methodology – Service Sector Companies · Standalone accounts · FY 2025-26

Indicative long-term—

Indicative short-term—

Score—

LiquidityAdequateAgency: Strong

DirectionStableAgency outlook: Stable

ICRA rating · Oct 2026AA-3 notches below indicative

Ratios, pillar scores and the indicative rating are part of Premium.

Rating status

Default	No default on record
Issuer cooperation	Cooperating
Credit enhancement	None – standalone rating
Next action stable or better (model)	91%
Information on file	44% · missing: Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern

Indicative assessment from public data using the published methodology factors; not a credit rating.

Borrowing & funding lifecycle

⬇ PDF report ⬇ Excel

Can it borrow more?Further bank funding likely Next rating action stable or better: 82% (Stable or improving) · ML model on 4072 rating histories, AUC 0.666

Rated limits₹20.00 Cr

Not yet allocated—

Extra debt within 3.5× EBITDA—

Interest coverage83.80×

Limit utilisation—

Open bank charges0 · —

Credit outlook model: 82% chance the next rating action is stable or better
Current rating AA- (investment grade)
Interest coverage 83.8×

Rated limits by facility

Timeline

21 Oct 2026 ICRA reaffirmed: AA- (Stable)Rated limits ₹20 cr ICRA rationale

21 Oct 2026 Cash & liquid funds ₹395.3 cr

From the report

It had a cash and bank balance of Rs. 395.3 crore as on March 31, 2026 The ratings are, however, constrained by the company’s relatively moderate scale of operations compared to larger domestic IT services and banking technology players, as well as the concentration towards the cooperative banking and RRB segments.

ICRA rationale

21 Oct 2026 Debt-free repayment of debt-free

From the report

Moreover, the company’s external debt-free structure continues to support its financial flexibility and liquidity profile.