Ceinsys Tech Limited

In FY26, CTL’s consolidated TOI grew by ~59% to ₹662.73 crore (PY: ₹418.06 crore), driven by higher inflow and execution of orders. Standalone TOI also improved by ~59% to ₹637.20 crore in FY25 (PY: ₹399.73 crore). CTL’s ‘Geospatial and Engineering Services’ business vertical grew by ~76% and ‘Technology Solutions’ segment grew by ~41% in FY26. CTL reported TOI of ₹162.68 crore in Q1FY27 (refers to April 01 to June 30). Growth momentum is expected to persist, fuelled by the execution of

CTL’s debt profile mainly comprises of working capital borrowings, term loan, advances from customers and lease liabilities. As on March 31, 2026, CTL’s capital structure improved and remained comfortable with an overall gearing of 0.09x (PY: 0.13x) due to improvement in net worth base. CTL’s net worth base improved to ₹646.27 crore as on March 31, 2026 (PY: ₹385.69 crore), with accretion of profit to reserves and inflow of ~₹130 crore through balance 75% funds received against preferential issu

As on July 31, 2026, CTL has an outstanding orderbook of ₹977 crore, translating to an orderbook to TOI of 1.47x of FY26. This indicates revenue visibility in the near term. Majority contracts are secured from state governments, municipal bodies and public sector units, with a few from corporate entities. CTL is likely to benefit from the government’s focus on areas such as urban development, water management and energy security. CTL’s ability to efficiently execute and sustain its order book wi

CTL has a track record of over two decades in the industry, offering geographic information system (GIS) and engineering solutions. CTL specialises in designing, capturing, storing, mapping, analysing and managing all types of geographical data. CTL is promoted by Sagar Meghe (Chairman and Director) and is jointly managed by Abhay Kimmatkar (Managing Director) and Kaushik Khona (Managing Director, India Operations). Both are well-qualified and experienced professionals. The company has a

CTL's order book predominantly revolves around the water domain (over 90% order book), posing a segmental concentration risk. Also, CTL’s order book remains concentrated with top two orders from government authorities accounting for ~50% of outstanding order book value. Timely execution of these contracts and collections from the authorities will remain a key monitorable. Working capital intensive operations CTL’s operations remain working capital intensive, emanating from high collection cycle

CTL’s operations remain working capital intensive, emanating from high collection cycle and sizeable portion of unbilled revenues. CTL derives a major proportion of its revenues from government contracts, where credit period ranges from 120 to 150 days. Furthermore, invoices are raised on a milestone basis, leading to unbilled portions of revenue. Average collection period remained high at 200 days in FY26 (PY: 186 days). GCA also remained high at 294 days in FY26 (PY: 287 days). Timely billing

The information technology (IT) and IT-enabled services (ITES) industries are highly competitive, with both established and emerging companies striving to create their own niches. The industry is vulnerable to rapid evolution of advanced technologies. In this industry, majority contracts are awarded by central and state government bodies through a tender process and are milestone-based, leading to significant working capital requirements.