CES
In the Jun 2025 quarter, revenue rose 7.6% year on year to ₹141.51 Cr and net profit fell 24.7% year on year to ₹6.39 Cr (compared with Jun 2024). Promoters held 74.84% of CES in Jun 2025, unchanged from Mar 2025.
Tapetide Score
Data-driven rating, 0–100. How it works →
No Tapetide Score has been computed for this stock yet.
Key Insights
Strengths
1- Stock is trading at 0.01 times its book value
Weaknesses
4- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 13.4% over last 3 years.
- Debtor days have increased from 92.5 to 135 days.
- Working capital days have increased from 38.3 days to 89.9 days
Growth Rate
change over 1 year
change over 1 year
Quarterly Results
| Particulars | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 100 | 112 | 111 | 103 | 118 | 117 | 118 | 116 | 132 | 127 | 131 | 132 | 142 |
| Expenses | 92.27 | 99.9 | 97.71 | 109 | 108 | 106 | 107 | 110 | 117 | 116 | 119 | 126 | 131 |
| Operating Profit | 8.07 | 12.22 | 13.42 | -6.54 | 10.11 | 11.6 | 11.16 | 5.92 | 14.28 | 11.59 | 12.33 | 5.74 | 10.21 |
| OPM % | 8.04% | 10.9% | 12.08% | -6.36% | 8.55% | 9.9% | 9.46% | 5.13% | 10.85% | 9.11% | 9.38% | 4.36% | 7.22% |
| Other Income | 2.15 | 2.11 | 1.37 | 0.59 | 0.45 | 1.2 | 0.66 | 0.99 | 0.52 | 0.64 | 1.89 | 0.12 | 0.5 |
| Interest | 0.03 | 0.09 | 0.06 | 0.27 | 0.07 | 0.08 | 0.08 | 0.35 | 0.03 | 0.02 | 0 | 0.2 | 0.05 |
| Depreciation | 1.09 | 1.12 | 1.11 | 1.1 | 1.03 | 1.12 | 1.13 | 0.84 | 0.87 | 0.87 | 0.87 | 0.87 | 0.89 |
| PBT | 9.1 | 13.12 | 13.62 | -7.32 | 9.46 | 11.6 | 10.61 | 5.72 | 13.9 | 11.34 | 13.35 | 4.79 | 9.77 |
| Tax % | 39.67% | 28.66% | 38.62% | -49.45% | 38.37% | 31.9% | 30.91% | 5.42% | 38.99% | 38.18% | 28.09% | 7.52% | 34.6% |
| Net Profit | 5.49 | 9.36 | 8.36 | -3.69 | 5.83 | 7.91 | 7.34 | 5.41 | 8.48 | 7.01 | 9.6 | 4.44 | 6.39 |
| EPS (₹) | 1.51 | 2.57 | 2.3 | -1.01 | 1.6 | 2.17 | 2.02 | 1.49 | 2.33 | 1.93 | 2.64 | 1.22 | 1.76 |
Profit & Loss
| Particulars | Jun 2014 | Mar 2015 9m | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 103 | 91 | 176 | 226 | 204 | 246 | 278 | 313 | 393 | 426 | 469 | 522 | 532 |
| Expenses | 93 | 81 | 151 | 198 | 185 | 223 | 245 | 289 | 348 | 399 | 430 | 478 | 492 |
| Operating Profit | 10 | 10 | 24 | 28 | 18 | 24 | 33 | 25 | 46 | 27 | 39 | 44 | 40 |
| OPM % | 10% | 11% | 14% | 12% | 9% | 10% | 12% | 8% | 12% | 6% | 8% | 8% | 7% |
| Other Income | 1 | 0 | 0 | 1 | 0 | 3 | 1 | 16 | 7 | 6 | 3 | 3 | 3 |
| Interest | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 1 | 0 | 0 |
| Depreciation | 2 | 2 | 4 | 5 | 6 | 7 | 8 | 7 | 5 | 4 | 4 | 3 | 4 |
| PBT | 8 | 8 | 20 | 22 | 12 | 19 | 25 | 34 | 47 | 29 | 37 | 43 | 39 |
| Tax % | 38% | 35% | 27% | 32% | 30% | 33% | 21% | 24% | 24% | 32% | 29% | 32% | — |
| Net Profit | 5 | 5 | 15 | 15 | 8 | 13 | 20 | 26 | 36 | 20 | 26 | 30 | 27 |
| EPS (₹) | 1.39 | 1.49 | 4.06 | 4.09 | 2.27 | 3.47 | 5.5 | 7.05 | 9.77 | 5.36 | 7.27 | 8.11 | 7.55 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Jun 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 1 | 36 | 36 | 36 | 36 | 36 | 36 | 36 |
| Reserves | 31 | 37 | 49 | 70 | 75 | 45 | 63 | 85 | 114 | 140 | 165 | 189 |
| Borrowings | 4 | 8 | 10 | 21 | 24 | 2 | 1 | 4 | 3 | 14 | 16 | 37 |
| Other Liabilities | 23 | 20 | 40 | 42 | 45 | 80 | 75 | 100 | 112 | 124 | 124 | 127 |
| Total Liabilities | 60 | 66 | 101 | 134 | 144 | 164 | 174 | 225 | 266 | 314 | 341 | 389 |
| Fixed Assets | 11 | 21 | 30 | 49 | 55 | 66 | 66 | 61 | 57 | 53 | 50 | 47 |
| CWIP | 1 | 3 | 5 | 7 | 8 | 0 | 0 | 0 | 0 | 2 | 11 | 27 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 47 | 42 | 66 | 78 | 81 | 97 | 109 | 164 | 209 | 260 | 280 | 315 |
| Total Assets | 60 | 66 | 101 | 134 | 144 | 164 | 174 | 225 | 266 | 314 | 341 | 389 |
Cash Flow
| Particulars | Jun 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | — | 9 | 12 | 16 | 26 | 32 | 11 | 50 | 29 | 34 | 13 | -66 |
| Investing | — | -14 | -13 | -24 | -16 | -20 | -11 | -3 | 8 | -1 | -2 | -8 |
| Financing | — | 4 | 4 | 5 | -6 | 0 | 1 | 4 | 0 | 0 | -1 | 0 |
| Net Cash Flow | — | -2 | 3 | -3 | 4 | 12 | 1 | 50 | 36 | 32 | 10 | -74 |
| Free Cash Flow | — | -5 | -1 | -11 | 18 | 12 | 4 | 47 | 28 | 32 | 2 | -82 |
| CFO/OP | — | 108 | 71 | 81 | 159 | 160 | 53 | 232 | 87 | 158 | 60 | -151 |
Ratios
| Particulars | Jun 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 55 | 79 | 57 | 60 | 63 | 52 | 51 | 77 | 67 | 73 | 70 | 135 |
| Cash Conversion Cycle | 55 | 79 | 57 | 60 | 63 | 52 | 51 | 77 | 67 | 73 | 70 | 135 |
| Working Capital Days | 42 | 45 | 39 | 39 | 24 | 3 | 20 | -4 | 4 | 5 | 20 | 90 |
| ROCE % | — | — | 38% | 30% | 13% | 21% | 27% | 29% | 32% | 16% | 17% | 17% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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58 extracted metrics + investor summaries across FY11–FY26.
Documents
Frequently Asked Questions about CES
What does CES Ltd do?
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Company Information
Incorporated in 1985 and formerly known as Serve All Enterprise Solutions Limited; CES Ltd. is an Information Technology (IT) and Information Technology-enabled Services (ITeS) provider serving the midsize market of global enterprises through Business Process Management (BPM)
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