Key Metrics of Paradigmit Technology Services Private Limited
About Paradigmit Technology Services Private Limited
Sectors
Company details
Operational Areas of Paradigmit Technology Services Private Limited
Company summary
Entity details
Compliance
Industry classification
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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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
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 07 May 2026 | ICRA | Reaffirmed | BBB | A3+ | Stable | ₹130 Cr | View |
Credit strengths (ICRA, May 2026)
+ Extensive experience of promoters in the industry
Paradigm is promoted by Mr. G Sridhar, who has extensive experience of over two decades in the IT services and staffing business.
+ Diversified revenue streams -
The company has diversified revenue streams, including the staffing business, software development, cyber security projects, skill development, and solar projects.
+ Healthy financial profile
The company’s revenue grew at a CAGR of around 35% from FY2021 to FY2025, on the back of strong demand in corporate staffing and IT services segments, which led to improved earnings.
Credit challenges
− Moderate scale of services in the competitive industry
The company’s scale of operations is moderate, despite its presence in multiple segments, given the modest scale of each segment.
− High customer concentration, especially in IT services segment
The company’s top 5 customers in the staffing business contributed around 45% of its staffing revenues in 9M FY2026.
− Revenues remain susceptible to performance of end-user industries
The staffing business’s prospects are highly dependent on the performance of the client as the manpower requirement is directly proportional to the growth prospects of the end- user industry.
− High working capital intensity owing to elongated receivable cycle
The company’s working capital intensity is high owing to elongated receivables days.
Could lead to an upgrade
Ratings could be upgraded if sustained improvement in the company’s scale of operations and earnings, supported by healthy order inflow, leads to improvement in its
Could lead to a downgrade
Pressure on the ratings may arise if any material decline in the revenues or profitability affects its debt metrics. The rating could also be downgraded in case of sustained underperformance in generation of solar plants below P90 estimates, or delays in payments from MSEDCL, resulting in weaker debt coverage or
Agency-reported financials (ICRA, 07 May 2026)
| Metric | FY2024 | FY2025 |
|---|---|---|
| Operating income | ₹319 Cr | ₹418 Cr |
| PAT | ₹11.20 Cr | ₹27.50 Cr |
| OPBDIT/OI | 9.0% | 10.7% |
| PAT/OI | 3.5% | 6.6% |
| Total outside liabilities/Tangible net worth (times) | 0.80× | 1.00× |
| Total debt/OPBDIT (times) | 1.20× | 1.10× |
| Interest coverage (times) | 5.80× | 9.50× |
| Revenue growth (YoY) | — | 30.8% |
| EBITDA (margin × income) | ₹28.75 Cr | ₹44.70 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹34.50 Cr | ₹49.17 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹4.96 Cr | ₹4.71 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term – Fund-based – Cash Credit | Working capital & bank lines | ₹7.00 Cr | ₹7.00 Cr | 0.0% | BBB (Stable) | Reaffirmed | ICRA |
| Long-term Short-term – Fund-based – Others Short-term – Non-fund based limits | Non-fund based limits | — | ₹10.0 Cr | — | BBB / A3+ (Stable) | Reaffirmed | ICRA |
| to be Bank Guarantee | Non-fund based limits | ₹59.4 Cr | ₹44.1 Cr | −25.8% | A3+ | Reaffirmed | ICRA |
| Long-term Fund-based Term Loan | Term loans | ₹60.5 Cr | ₹44.5 Cr | −26.5% | BBB (Stable) | Reaffirmed | ICRA |
| Long-term Short-term – Unallocated | Working capital & bank lines | ₹3.10 Cr | ₹24.5 Cr | 689.4% | BBB / A3+ (Stable) | Other | ICRA |
Credit assessment · Services
Rating Methodology – Service Sector Companies · Standalone accounts · FY 2024-25
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) | 60% |
| Information on file | 44% · missing: Audited financial statements (last 18 months), Annual results history (3+ years), Debt obligations and repayment schedule, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 60% chance the next rating action is stable or better
- Current rating BBB (investment grade)
- Interest coverage 9.5×
- ₹24.47 cr of rated limits not yet tied to a lender
What happened, step by step
- May 2026 — Project / plant of ₹405 cr
- May 2026 — Term debt tied up (₹40 cr)
“Paradigm entered the renewable energy (RE) segment through its two 51%-subsidiary, solar special purpose vehicles (SPVs)— Lumina Clean Energy Private Limited and Pure Light Energy Private Limited—to develop grid-connected solar power projects with an aggregate capacity of 92 MW at a cost of around Rs. 405.0 crore.”
Rated limits by facility
Timeline
From the report
Paradigm entered the renewable energy (RE) segment through its two 51%-subsidiary, solar special purpose vehicles (SPVs)— Lumina Clean Energy Private Limited and Pure Light Energy Private Limited—to develop grid-connected solar power projects with an aggregate capacity of 92 MW at a cost of around Rs. 405.0 crore.
From the report
The company’s long-term debt is estimated to have risen given the term loan drawn for solar projects term loan of Rs. 40.0 crore (around Rs. 25.0 crore was drawn down during FY2026) for the Maharashtra Cyber Security project, which is likely to lead to an increase in interest costs over the previous years.
From the report
The company’s capital structure and debt metrics (excluding solar related debt) are likely to improve, supported by scheduled repayments of term loans and a gradual reduction in overall debt levels. www.icra.in Sensitivity Label : Public Page |2 Credit challenges Moderate scale of services in the competitive industry – The company’s scale of operations is moderate, despite its presence in multiple segments, given the modest scale of each segment.
From the report
Liquidity position: Adequate Paradigm’s liquidity position is adequate, supported by free cash balances of around Rs. 2.8 crore and unutilised working capital limits of around Rs. 5.1 crore as on March 31, 2026.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Paradigmit Technology Services Private Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Infosys |
IT Services & Consulting · IT Services | infosys.com | 1981 | India |
 Wipro |
Part of Wipro. | wipro.com | 1945 | India |
 Tata Consultancy Services |
Indian IT Services · IT Services & Software | tcs.com | 1968 | Mumbai, India |
 HCL Technologies |
Indian IT Services · IT Services & Software | hcltech.com | 1991 | New Delhi, India |
 Tech Mahindra |
IT Services & Consulting · IT Services | techmahindra.com | 1987 | Mumbai, India |
 LTM Limited |
Indian IT Services · Business Services | ltm.com | 1997 | Mumbai, Maharashtra, India |
 Coforge Limited |
Travel & Tourism · Restaurants, Hotels & Travel | coforge.com | — | Gurugram, Haryana, India |
 Mphasis |
Indian IT Services · IT Services & Software | mphasis.com | 2000 | Bangalore, India |
 Persistent Systems |
IT Services & Consulting · IT Services | persistent.com | 1990 | Pune, India |
 Meesho |
Product & Internet Companies · IT Services & Software | meesho.com | — | Bangalore, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.