---
title: "SQL Star International Ltd (532249) — Share Price, Financials & Analysis"
symbol: "532249"
company: "SQL Star International Ltd"
canonical: "https://tapetide.com/stocks/532249"
isin: "INE399A01018"
bse_code: "532249"
generated_at: "2026-10-13T11:02:32.993Z"
---

# SQL Star International Ltd (532249)

Canonical page: https://tapetide.com/stocks/532249

## Company

- **BSE Code:** 532249
- **ISIN:** INE399A01018
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-01
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** sqlstar.com

## About

SQL Star International, Ltd. is an India-based Information Technology (IT) services company. The company provides IT education to corporate and individuals. It also markets an embedded Linux platform called Embinux. The Company has three main divisions such as Knowledge Services, Enterprise Services and e-Governance. It provides services such as software design, software systems maintenance, application migration, tech staffing, enterprise resource planning (ERP) software implementation, eLearning solutions, and e-Governance solutions.

## Latest Price

## Key Insights

### Strengths

- Company's working capital requirements have reduced from 58.6 days to 14.2 days

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -12.6% over past five years.
- Company has a low return on equity of -82.2% over last 3 years.
- Company has high debtors of 219 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -61% | 16% | — |
| revenue growth | -10% | -26% | -13% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- |
| Sales | 64 | 87 | 67 | 93 | 89 |
| Expenses | 58 | 71 | 56 | 81 | 78 |
| Operating Profit | 6 | 15 | 10 | 12 | 11 |
| OPM % | 9 | 18 | 15 | 13 | 12 |
| Other Income | 0 | 1 | 0 | 1 | 0 |
| Interest | 1 | 2 | 2 | 2 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 5 | 14 | 9 | 11 | 9 |
| Tax % | 20 | 27 | 14 | 23 | 19 |
| Net Profit | 4 | 10 | 7 | 8 | 7 |
| EPS in Rs | 142.37 | 14.24 | 10.14 | 8.32 | 6.8 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 15m | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 36 | 70 | 103 | 87 | 54 | 39 | 35 |
| Expenses | 38 | 95 | 93 | 111 | 66 | 46 | 48 |
| Operating Profit | -2 | -25 | 9 | -24 | -12 | -7 | -12 |
| OPM % | -4.9 | -36 | 9 | -28 | -23 | -18 | -34 |
| Other Income | -28 | 47 | 1 | 0 | 1 | 1 | 2 |
| Interest | 1 | 1 | 2 | 2 | 1 | 1 | 1 |
| Depreciation | 2 | 2 | 3 | 4 | 8 | 2 | 3 |
| Profit before tax | -32 | 19 | 5 | -30 | -21 | -9 | -14 |
| Tax % | 1 | -10 | 28 | 9 | -11 | -4 | -5 |
| Net Profit | -32 | 21 | 4 | -33 | -19 | -9 | -14 |
| EPS in Rs | -18.23 | 11.55 | 1.77 | -15.01 | -8.6 | — | -4.13 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 18 | 22 | 22 | 22 | 32 | 32 | 33 |
| Reserves | -1 | 26 | 30 | 33 | -18 | -24 | -36 |
| Borrowings | 7 | 5 | 11 | 12 | 6 | 7 | 8 |
| Other Liabilities | 20 | 21 | 39 | 35 | 32 | 31 | 31 |
| Total Liabilities | 44 | 74 | 102 | 101 | 53 | 47 | 36 |
| Fixed Assets | 17 | 10 | 31 | 35 | 4 | 5 | 2 |
| CWIP | 3 | 6 | 6 | 9 | 2 | 0 | 0 |
| Investments | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 24 | 58 | 65 | 58 | 46 | 42 | 34 |
| Total Assets | 44 | 74 | 102 | 101 | 53 | 47 | 36 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -17 | 1 | 6 | -1 | -3 | 0 | -2 |
| Cash from Investing Activity | -7 | 11 | -25 | -5 | -2 | -1 | 0 |
| Cash from Financing Activity | 24 | 9 | 5 | -1 | 5 | 1 | 1 |
| Net Cash Flow | 0 | 21 | -13 | -7 | 1 | 0 | -2 |
| Free Cash Flow | -24 | 10 | -19 | -6 | -3 | -1 | -2 |
| CFO/OP | 931 | -7 | 75 | 8 | 26 | 34 | 13 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 94 | 118 | 155 | 153 | 197 | 267 | 219 |
| Cash Conversion Cycle | 94 | 118 | 155 | 153 | 197 | 267 | 219 |
| Working Capital Days | 47 | 82 | 68 | 107 | 92 | 70 | 14 |
| ROCE % | — | 12 | 12 | -43 | -44 | -46 | -127 |

## Shareholding Pattern

### annual

| Category | Mar 2025 | Sep 2025 |
| --- | --- | --- |
| Promoters | 69.27% | 69.27% |
| FIIs | 1.2% | 1.01% |
| DIIs | 1.86% | 0.42% |
| Public | 27.68% | 29.3% |
| No. of Shareholders | 1645 | 1601 |

### Quarterly

| Category | Oct 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- |
| Promoters | 69.22% | 69.27% | 69.27% |
| FIIs | 5.47% | 1.2% | 1.01% |
| DIIs | 5.69% | 1.86% | 0.42% |
| Public | 19.62% | 27.68% | 29.3% |
| No. of Shareholders | 1791 | 1645 | 1601 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-02-24 | [Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company](https://nsearchives.nseindia.com/corporate/LAKSHYA2012_24022026112519_OutcomeofDeviEnggcase.pdf) |
| 2026-02-05 | [General Updates](https://nsearchives.nseindia.com/corporate/LAKSHYA2012_05022026120810_AnnouncementIncofSub.pdf) |
| 2026-01-08 | [Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/LAKSHYA2012_08012026171002_SIGNED74_5_.pdf) |
| 2025-11-24 | [Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/LAKSHYA2012_24112025120921_WONTT24112025.pdf) |
| 2025-11-13 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/LAKSHYA2012_13112025171148_LatestFINANCIALSLAKSHYASigned.pdf) |
| 2025-11-05 | [Updates](https://nsearchives.nseindia.com/corporate/LAKSHYA2012_05112025151832_WO_Gmmco_cancellation.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://archives.nseindia.com/annual_reports/SME_AR_28393_LAKSHYA_2024_2025_A_12023362_04092025122905.pdf) |
| Mar 2012 | [Annual Report 2012](https://www.bseindia.com/bseplus/AnnualReport/532249/5322490312.pdf) |
| Mar 2011 | [Annual Report 2011](https://www.bseindia.com/bseplus/AnnualReport/532249/5322490311.pdf) |
| Mar 2010 | [Annual Report 2010](https://www.bseindia.com/bseplus/AnnualReport/532249/5322490310.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/LAKSHYA2012_21052025162736_NSETRANSCRIPT.pdf) |
| Mar 2025 | [Concall - Mar 2025](https://nsearchives.nseindia.com/corporate/LAKSHYA2012_03032025180841_Presentation_NSESigned.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2026-01-22 | Credit rating update — Infomerics |
| 2025-10-31 | Credit rating update — CRISIL |
| 2024-11-21 | Credit rating update — Infomerics |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:02:32.993Z.