---
title: "Covance Softsol Ltd (544361) — Share Price, Financials & Analysis"
symbol: "544361"
company: "Covance Softsol Ltd"
canonical: "https://tapetide.com/stocks/544361"
isin: "INE0R8101016"
bse_code: "544361"
sector: "Information Technology"
industry: "Computer Software & Consulting"
market_cap_cr: 338.75
generated_at: "2026-09-21T06:31:19.920Z"
---

# Covance Softsol Ltd (544361)

Canonical page: https://tapetide.com/stocks/544361

## Company

- **BSE Code:** 544361
- **ISIN:** INE0R8101016
- **Sector:** Information Technology
- **Industry:** Computer Software & Consulting
- **Macro Sector:** Information Technology
- **Stock Type:** EQUITY
- **Listed Since:** 2025-02-24
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** covance.ai

## About

Incorporated in 2023, Covance SoftSol Ltd provides services related to software development and information technology[1]

## Latest Price

- **Price:** ₹154
- **Change:** +6.85 (+4.66%)
- **Open:** ₹140.1
- **Day High:** ₹154.25
- **Day Low:** ₹140.1
- **Previous Close:** ₹147.15
- **Volume:** 1145
- **As Of:** 2026-09-21T06:27:59+00:00

## Key Fundamentals

Observed at 2026-09-21T04:30:38.921836Z.

- **Market Cap:** ₹338.75 Cr
- **Classification:** Microcap
- **P/E (reported):** 8.3
- **P/E (TTM):** 8.7
- **EPS (TTM):** ₹17.71
- **Book Value:** ₹76.16
- **Price to Book:** 1.93
- **Dividend Yield:** 0%
- **ROE:** 13.28%
- **ROCE:** 13.09%
- **Debt to Equity:** 0
- **Revenue (yearly):** ₹145.96 Cr
- **Net Income:** ₹35.52 Cr
- **EBITDA:** ₹41.9 Cr
- **52-Week High:** ₹270
- **52-Week Low:** ₹37.26
- **RSI (14):** 34.54

## Tapetide Score

- **Score:** 60 / 100
- **Score date:** 2026-09-18
- **Archetype:** Quality at a Reasonable Price
- **What it means:** Financial strength is not being paid for with a demanding multiple. The question worth asking is whether the quality is durable or reflects a good patch — check the consistency of returns over several years rather than the latest quarter.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Flat
- **Percentile:** 87.5 (of 4500 scored stocks)
- **Confidence:** 98%
- **Data coverage:** 95%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 56.8 | 9% |
| growth | 61.97 | 9% |
| momentum | 50.49 | 12% |
| ownership | 50 | 24% |
| quality | 67.71 | 22% |
| valuation | 62.47 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 12.1% over last 3 years.
- Earnings include an other income of Rs.22.1 Cr.
- Working capital days have increased from 143 days to 430 days

## Growth Rates

| Metric | QoQ | 1Y | 3Y |
| --- | --- | --- | --- |
| cash flow growth | — | 276.53% | 209.9% |
| ebitda margin growth | 29.77% | 32.66% | 114.87% |
| net income growth | 100% | 193.55% | — |
| revenue growth | -10.24% | 29.86% | 28.49% |
| roce | 33.15% | 137.14% | 137.14% |
| roe | 100.79% | 676.61% | 7.49% |

## Financial Statements

### Quarterly Results

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

| Item | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 14 | 18 | 23 | 20 | 34 | 24 | 33 | 33 | 37 | 43 | 29 |
| Expenses | 15 | 15 | 17 | 16 | 33 | 23 | 22 | 25 | 25 | 33 | 24 |
| Operating Profit | -1 | 3 | 6 | 4 | 1 | 1 | 11 | 9 | 12 | 10 | 5 |
| OPM % | -11 | 17 | 28 | 18 | 3.2 | 3.4 | 34 | 26 | 33 | 23 | 17 |
| Other Income | 4 | -1 | 4 | 2 | 3 | 1 | 1 | 3 | 4 | 3 | 12 |
| Interest | 2 | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 2 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 1 | 9 | 4 | 3 | 0 | 10 | 10 | 15 | 11 | 16 |
| Tax % | 0 | 184 | 0 | 11 | 65 | 864 | 25 | 22 | 18 | 42 | 22 |
| Net Profit | 1 | -1 | 9 | 4 | 1 | -2 | 8 | 8 | 13 | 6 | 13 |
| EPS in Rs | — | — | — | — | 0.43 | -0.87 | 3.52 | 3.47 | 5.69 | 2.84 | 5.71 |

### Profit & Loss

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

| Item | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- |
| Sales | 61 | 102 | 146 | 142 |
| Expenses | 60 | 90 | 104 | 106 |
| Operating Profit | 1 | 12 | 42 | 36 |
| OPM % | 1.5 | 12 | 29 | 25 |
| Other Income | 8 | 11 | 11 | 22 |
| Interest | 6 | 6 | 6 | 5 |
| Depreciation | 0 | 0 | 0 | 0 |
| Profit before tax | 2 | 16 | 47 | 52 |
| Tax % | 48 | 26 | 26 | — |
| Net Profit | 1 | 12 | 34 | 39 |
| EPS in Rs | — | 5.48 | 15.52 | 17.71 |
| Dividend Payout % | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Equity Capital | 15 | 15 | 22 |
| Reserves | 59 | 76 | 147 |
| Borrowings | 73 | 73 | 0 |
| Other Liabilities | 19 | 32 | 111 |
| Total Liabilities | 165 | 196 | 280 |
| Fixed Assets | 2 | 1 | 2 |
| CWIP | 0 | 0 | 0 |
| Investments | 123 | 149 | 205 |
| Other Assets | 40 | 45 | 73 |
| Total Assets | 165 | 196 | 280 |

### Cash Flow

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

| Item | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Cash from Operating Activity | -10 | 18 | 4 |
| Cash from Investing Activity | 1 | -9 | -24 |
| Cash from Financing Activity | 0 | -9 | 10 |
| Net Cash Flow | -9 | 0 | -10 |
| Free Cash Flow | -12 | 18 | 3 |
| CFO/OP | -1300 | 180 | 34 |

### Ratios

| Item | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Debtor Days | 78 | 70 | 87 |
| Cash Conversion Cycle | 78 | 70 | 87 |
| Working Capital Days | 22 | -24 | 430 |
| ROCE % | — | 8 | 31 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 73.47% | 73.47% | 73.42% | 72.13% | 71.71% | 71.71% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 2.76% | 2.75% | 2.96% | 4.17% | 4.57% | 4.62% |
| Others | 23.77% | 23.78% | 23.63% | 23.69% | 23.72% | 23.67% |
| No. of Shareholders | 2132 | 2117 | 2108 | 2078 | 2578 | 2568 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 5 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 150.31 | Sell |
| EMA (10) | 149.92 | Sell |
| SMA (20) | 158.36 | Sell |
| EMA (20) | 162.11 | Sell |
| SMA (50) | 204.17 | Sell |
| EMA (50) | 181.37 | Sell |
| SMA (100) | 185.74 | Sell |
| EMA (100) | 180.52 | Sell |
| SMA (200) | 162.96 | Sell |
| EMA (200) | 155.06 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 37.1 | Neutral |
| MACD (12,26,9) | -16.41 | Buy |
| Stochastic (14,3,3) | 24.32 | Neutral |
| ADX (14) | 29.48 | Buy |
| Williams %R (14) | -64.44 | Neutral |
| ATR (14) | 11.79 | High Volatility |
| ROC (12) | -0.64 | Sell |
| Stoch RSI (14) | 86.96 | Sell |
| UO (7,14,28) | 41.33 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-09 | [Disclosures under Reg. 10(7) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=A0949932_D6D5_49A0_AB57_920E9A936FF7_172238.pdf) |
| 2026-09-08 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3c202804-a9e0-4316-8f53-40bfcfa859a9.pdf) |
| 2026-09-07 | [03Rd Annual General Meeting To Be Held On September 30 2026 At 11:30 AM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d8b0dc42-98ec-4450-978c-38ae5e3df13f.pdf) |
| 2026-09-07 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a3afdf27-6afb-474e-8fd9-e3a243cebabf.pdf) |
| 2026-09-01 | [Disclosures under Reg. 10(6) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0F28CEB8_0B93_4E06_9E80_B966F87EA383_104052.pdf) |
| 2026-08-31 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1FFC20EF_2B87_4130_90D8_A940E6F44B1D_161426.pdf) |
| 2026-08-31 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1FFC20EF_2B87_4130_90D8_A940E6F44B1D_163453.pdf) |
| 2026-08-31 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6CD7051A_DF30_4D76_A666_51C4CA482F27_161727.pdf) |
| 2026-08-20 | [Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8668C184_7B4A_4671_9DCB_FFA7250065EF_155017.pdf) |
| 2026-08-15 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=817094ac-1fc9-4409-b0e0-6c856fe0f4a3.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-14 | [Unaudited Standalone And Consolidated Financial Results For The 01St Quarter Ended June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=89004f05-a57b-421c-92d4-85f824a735c6.pdf) |
| 2026-05-30 | [Approval Of Audited Financial Results For The Quarter Ended 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f0420623-0a03-44aa-ade3-b3dcaf8b9b23.pdf) |
| 2026-02-14 | [Unaudited Standalone And Consolidated Financial Results For The Quarter Ended December 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2fa51407-19f2-4044-b707-5cd887bdd91b.pdf) |
| 2025-10-25 | [Unaudited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended September 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d30dfb3a-a59f-4dfe-8750-ab9f99325a81.pdf) |
| 2025-08-14 | [Unaudited Standalone And Consolidated Financial Results For The Quarter Ended 30Th June 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a3cee6bb-30c9-4b17-8ec8-397264697372.pdf) |
| 2025-05-28 | [Approval Of Audited Standalone And Consolidated Financial Results For The 4Th Quarter And Year Ended 31.03.2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5e27e19e-d676-4c79-89aa-9b38f5ed6112.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9 Jul - Regulation 74(5) confirmation certificate filed for quarter ended 30 June 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 9 Jul - Regulation 74(5) confirmation certificate filed for quarter ended 30 June 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=407ac117-1641-4888-a96c-30c04f4d8c54.pdf) |
| 7h - Covance Softsol confirms it is not a Large Corporate as of March 31, 2026. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 7h - Covance Softsol confirms it is not a Large Corporate as of March 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/82bc1b71-b070-4988-a3c8-e5ab17ea9755.pdf) |
| 30 May - Board re-appointed Bhavani & Co as internal auditors for FY2026-27. | [Announcement under Regulation 30 (LODR)-Change in Management 30 May - Board re-appointed Bhavani & Co as internal auditors for FY2026-27.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=89715749-cc56-4189-9ba1-740725cb3bef.pdf) |
| 30 May - Board approved audited standalone and consolidated FY26 results; reappointed Bhavani & Co. as internal auditors. | [Board Meeting Outcome for Approval Of Audited Standalone And Consolidated Financial Results For The 4Th Quarter And Year Ended On March 31, 2026 30 May - Board approved audited standalone and consolidated FY26 results; reappointed Bhavani & Co. as internal auditors.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=385e1375-b5d6-4f6c-8065-ee2ce89cacaa.pdf) |
| 3 Apr - Quarter ended 31 March 2026 Regulation 74(5) demat compliance certificate filed. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 3 Apr - Quarter ended 31 March 2026 Regulation 74(5) demat compliance certificate filed.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=969e9ea3-ed03-466a-b9f7-fbdbaa8725d1.pdf) |
| 3 Apr - Quarter ended 31 March 2026 Regulation 74(5) demat compliance certificate filed. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 3 Apr - Quarter ended 31 March 2026 Regulation 74(5) demat compliance certificate filed.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/969e9ea3-ed03-466a-b9f7-fbdbaa8725d1.pdf) |
| 28 Jan - Acquire 49% of Clean Max Kenai for up to Rs24 crore; 20 MW hybrid, COD Apr 2027. | [Announcement under Regulation 30 (LODR)-Acquisition 28 Jan - Acquire 49% of Clean Max Kenai for up to Rs24 crore; 20 MW hybrid, COD Apr 2027.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/de189398-0c76-418f-9dc7-2d16d0b0ce27.pdf) |
| 27 May - Board meets on 30 May 2026 to consider audited Q4 and FY26 standalone and consolidated results. | [Board Meeting Intimation for Approval Of Audited Standalone And Consolidated Financial Results For The 4Th Quarter And Year Ended March 31, 2026 27 May - Board meets on 30 May 2026 to consider audited Q4 and FY26 standalone and consolidated results.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=de4c6cc6-e3bc-4ba3-9b8b-0fc5fb3f90c5.pdf) |
| 27 Jun - Trading window closes from July 1, 2026 until 48 hours after Q1 FY2027 results. | [Closure of Trading Window 27 Jun - Trading window closes from July 1, 2026 until 48 hours after Q1 FY2027 results.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f5a73ef4-4da4-4ae3-8d0f-f27e3c6a8e19.pdf) |
| 25 Mar - Trading window closed from April 1, 2026 until 48 hours after audited Q4/year results (Mar 31, 2026). | [Closure of Trading Window 25 Mar - Trading window closed from April 1, 2026 until 48 hours after audited Q4/year results (Mar 31, 2026).](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=25eccfbf-3537-45bb-b76c-60eba1765cb4.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2024 | [Concall - Oct 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/48a9e37c-101a-4379-b6bf-06a88cf1284c.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fa3ca5e4-d998-4480-8589-3e68a960833e.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e5eb9550-2264-4724-a7a7-cb5a117f5a15.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/72f74bfe-1c49-429f-a681-bd8dee0cd07c.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/dec9b8ae-0dce-446f-8ead-185d79a8cd39.pdf) |
| Mar 2024 | [Concall - Mar 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8a0743dc-d266-4e02-b6ba-d5b13a6aeada.pdf) |
| Mar 2024 | [Concall - Mar 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0606cfb4-7f71-4e2e-a4fd-663d24708e4e.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3d804d1d-d890-43e0-a873-509fc6a3e2fb.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c9efbf95-5d34-468e-8015-b22c390bc2b1.pdf) |
| Feb 2023 | [Concall - Feb 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d8afb573-699a-4c2f-9cd2-a4cad9cbefca.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2011 from nse](https://archives.nseindia.com/annual_reports/AR_SANGAMIND_2010_2011_20092011072526.zip) |
| from bse | [Annual Report 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/467a8e88-9816-43a3-8031-006dcbd84f74.pdf) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/99f11ba6-26eb-4a0a-821e-d4d0418d7185.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7ce851e4-72f5-42ca-8849-a751e542a7de.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/14a8caea-ba0a-4ba6-a7a8-3420cac29f5c.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/514234/76577514234.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/514234/70203514234.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/514234/67437514234.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/514234/5142340319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/514234/5142340318.pdf) |

---

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 2026-09-21T06:31:19.920Z.