---
title: "Kandarp Digi Smart BPO Ltd (KANDARP) — Share Price, Financials & Analysis"
symbol: "KANDARP"
company: "Kandarp Digi Smart BPO Ltd"
canonical: "https://tapetide.com/stocks/KANDARP"
isin: "INE0MOT01016"
nse_symbol: "KANDARP"
sector: "Commercial Services"
industry: "BPO / KPO"
market_cap_cr: 61.33
generated_at: "2026-09-13T19:57:49.784Z"
---

# Kandarp Digi Smart BPO Ltd (KANDARP)

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

## Company

- **NSE Symbol:** KANDARP
- **ISIN:** INE0MOT01016
- **Sector:** Commercial Services
- **Industry:** BPO / KPO
- **Macro Sector:** Services
- **Stock Type:** EQUITY
- **Listed Since:** 2022-09-28
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** kdsbpo.com

## About

Incorporated in 2001, Kandarp Digi Smart 
BPO Ltd provides BPO support services & solutions[1]

## Latest Price

- **Price:** ₹72.85
- **Change:** +0.95 (+1.32%)
- **Open:** ₹68.35
- **Day High:** ₹74.45
- **Day Low:** ₹68.35
- **Previous Close:** ₹71.9
- **Volume:** 22000
- **As Of:** 2026-09-11T10:26:05+00:00

## Key Fundamentals

Observed at 2026-09-11T04:37:35.633715Z.

- **Market Cap:** ₹61.33 Cr
- **Classification:** SME
- **P/E (reported):** 34.7
- **Book Value:** ₹33.63
- **Price to Book:** 2.14
- **Dividend Yield:** 0%
- **ROE:** 8.12%
- **ROCE:** 14.5%
- **Debt to Equity:** 0.12
- **Revenue (yearly):** ₹39.74 Cr
- **Net Income:** ₹2.08 Cr
- **EBITDA:** ₹3.87 Cr
- **52-Week High:** ₹169
- **52-Week Low:** ₹71.85
- **RSI (14):** 29.07

## Tapetide Score

- **Score:** 42 / 100
- **Score date:** 2026-09-04
- **Archetype:** Expensive and Under Pressure
- **What it means:** The multiple is demanding and the trend has turned against it, without the financial strength that would justify paying up. What matters is whether the de-rating stops at the multiple or starts showing up in the numbers.
- **Pillar profile:** Quality: Average · Valuation: Expensive · Momentum: Falling
- **Percentile:** 19.7 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 72.37 | 9% |
| growth | 86.86 | 9% |
| momentum | 16.08 | 12% |
| ownership | 50 | 24% |
| quality | 57.79 | 22% |
| valuation | 25.26 | 24% |

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

## Key Insights

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 7.32% over last 3 years.
- Company has high debtors of 225 days.
- Promoter holding has decreased over last 3 years: -11.1%

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 158.27% | 122.13% | -50.91% |
| ebitda margin growth | -36.68% | -43.49% | -18.73% |
| net income growth | 30% | 22% | 99% |
| revenue growth | 62.87% | 35% | 31% |
| roce | 31.94% | 62.19% | 11.72% |
| roe | 43.72% | 6.61% | 437.75% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 5.46 | 7.04 | 6.99 | 9.13 | 6.91 | 9.61 | 8.61 | 15.72 | 23.39 | 16.35 |
| Expenses | 5.08 | 6.2 | 6.47 | 7.52 | 5.96 | 7.75 | 7.6 | 13.04 | 21.5 | 14.37 |
| Operating Profit | 0.38 | 0.84 | 0.52 | 1.61 | 0.95 | 1.86 | 1.01 | 2.68 | 1.89 | 1.98 |
| OPM % | 6.96 | 11.93 | 7.44 | 17.63 | 13.75 | 19.35 | 11.73 | 17.05 | 8.08 | 12.11 |
| Other Income | 0.01 | 0.01 | 0 | 0.02 | 0.01 | 0.02 | 0 | 0.02 | 0 | 0.09 |
| Interest | 0.1 | 0.13 | 0.12 | 0.15 | 0.2 | 0.28 | 0.24 | 0.23 | 0.22 | 0.2 |
| Depreciation | 0.02 | 0.03 | 0.03 | 0.6 | 0.32 | 0.48 | 0.31 | 0.42 | 0.67 | 0.06 |
| Profit before tax | 0.27 | 0.69 | 0.37 | 0.88 | 0.44 | 1.12 | 0.46 | 2.05 | 1 | 1.81 |
| Tax % | 33.33 | 28.99 | 29.73 | 13.64 | 29.55 | 36.61 | 41.3 | 35.61 | 28 | 37.57 |
| Net Profit | 0.18 | 0.49 | 0.26 | 0.76 | 0.31 | 0.7 | 0.28 | 1.32 | 0.72 | 1.13 |
| EPS in Rs | 2.58 | 0.78 | 0.29 | 0.85 | 0.35 | 0.78 | 0.31 | 1.47 | 0.8 | 1.26 |

### Profit & Loss

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

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 11.04 | 10 | 10.41 | 12.8 | 16.11 | 16.51 | 24.34 | 39.74 |
| Expenses | 8.73 | 8.14 | 10.05 | 11.27 | 13.97 | 13.69 | 20.64 | 35.87 |
| Operating Profit | 2.31 | 1.86 | 0.36 | 1.53 | 2.14 | 2.82 | 3.7 | 3.87 |
| OPM % | 20.92 | 18.6 | 3.46 | 11.95 | 13.28 | 17.08 | 15.2 | 9.74 |
| Other Income | 0.03 | 0.13 | 0.12 | 0.01 | 0.02 | 0.03 | 0.02 | 0.09 |
| Interest | 0.24 | 0.26 | 0.24 | 0.24 | 0.28 | 0.49 | 0.48 | 0.42 |
| Depreciation | 0.13 | 0.23 | 0.09 | 0.05 | 0.62 | 0.8 | 0.73 | 0.73 |
| Profit before tax | 1.97 | 1.5 | 0.15 | 1.25 | 1.26 | 1.56 | 2.51 | 2.81 |
| Tax % | 24.87 | 26 | 33.33 | 28.8 | 19.05 | 35.26 | 36.25 | 34.16 |
| Net Profit | 1.48 | 1.12 | 0.11 | 0.89 | 1.02 | 1.01 | 1.59 | 1.85 |
| EPS in Rs | 21.23 | 16.07 | 1.58 | 1.42 | 1.14 | 1.13 | 1.77 | 2.06 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.7 | 0.7 | 0.7 | 6.27 | 8.97 | 8.97 | 8.97 | 8.97 |
| Reserves | 5.09 | 6.2 | 6.31 | 1.5 | 7.91 | 8.96 | 10.67 | 21.2 |
| Borrowings | 1.21 | 1.73 | 2.92 | 1.94 | 2.64 | 4.82 | 4.2 | 3.54 |
| Other Liabilities | 2.29 | 3.28 | 7.27 | 8.9 | 6.55 | 2.86 | 5.42 | 9.5 |
| Total Liabilities | 9.29 | 11.91 | 17.2 | 18.61 | 26.07 | 25.61 | 29.26 | 43.21 |
| Fixed Assets | 0.44 | 0.23 | 0.15 | 1.43 | 4.42 | 3.62 | 4.89 | 4.77 |
| CWIP | 2.76 | 4.18 | 7 | 7.3 | 7.55 | 7.62 | 5.62 | 5.02 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 6.09 | 7.5 | 10.05 | 9.88 | 14.1 | 14.37 | 18.75 | 33.42 |
| Total Assets | 9.29 | 11.91 | 17.2 | 18.61 | 26.07 | 25.61 | 29.26 | 43.21 |

### Cash Flow

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

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.89 | 0.64 | 1.65 | -3.03 | -3.66 | -1.39 | 0.81 | -2.26 |
| Cash from Investing Activity | -1.36 | -1.33 | -2.73 | -1.37 | -4.72 | 0.41 | 0.63 | -4.02 |
| Cash from Financing Activity | 0.67 | 0.26 | 0.96 | 4.35 | 8.53 | 1.7 | -1.1 | 7.39 |
| Net Cash Flow | 0.2 | -0.43 | -0.12 | -0.06 | 0.15 | 0.73 | 0.33 | 1.1 |
| Free Cash Flow | -0.52 | -0.8 | -1.18 | -4.91 | -7.27 | -1.46 | 0.81 | -2.27 |
| CFO/OP | 65 | 65 | 561 | 193 | -155 | -36 | 39 | -40 |

### Ratios

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 122.99 | 199.66 | 290.67 | 231.83 | 229.06 | 226.16 | 223.89 | 225.21 |
| Cash Conversion Cycle | 122.99 | 199.66 | 290.67 | 231.83 | 229.06 | 226.16 | 223.89 | 225.21 |
| Working Capital Days | 71.08 | 84.32 | -9.82 | -33.08 | 109.21 | 142.37 | 131.81 | 170.19 |
| ROCE % | — | 22.52 | 3.34 | 15.17 | 10.54 | 9.7 | 12.96 | 11.22 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 69.91% | 69.91% | 69.91% | 69.91% | 69.91% | 67.68% | 58.77% | 58.77% | 58.77% | 58.77% | 58.77% | 58.77% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 26.43% | 25.72% | 28.75% | 28.17% | 27.37% | 28.62% | 33.52% | 28.98% | 28.69% | 30.9% | 30.02% | 30.5% |
| Others | 3.66% | 4.37% | 1.34% | 1.92% | 2.72% | 3.7% | 7.71% | 12.26% | 12.55% | 10.33% | 11.21% | 10.73% |
| No. of Shareholders | 453 | 456 | 410 | 368 | 290 | 266 | 233 | 212 | 318 | 453 | 395 | 406 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 3 / 4 / 12

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 88.56 | Sell |
| EMA (10) | 86.06 | Sell |
| SMA (20) | 94.5 | Sell |
| EMA (20) | 91.56 | Sell |
| SMA (50) | 97.66 | Sell |
| EMA (50) | 99.69 | Sell |
| SMA (100) | 116.4 | Sell |
| EMA (100) | 109.36 | Sell |
| SMA (200) | 126.74 | Sell |
| EMA (200) | 113.71 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 30.27 | Neutral |
| MACD (12,26,9) | -5.85 | Sell |
| Stochastic (14,3,3) | 4.26 | Buy |
| ADX (14) | 18.14 | Neutral |
| Williams %R (14) | -87.38 | Buy |
| ATR (14) | 5.95 | High Volatility |
| ROC (12) | -29.2 | Sell |
| Stoch RSI (14) | 5.28 | Buy |
| UO (7,14,28) | 33.08 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 6 Jul - Submitted Regulation 74(5) compliance certificate for quarter ended June 30, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 6 Jul - Submitted Regulation 74(5) compliance certificate for quarter ended June 30, 2026.](https://nsearchives.nseindia.com/corporate/KANDARP_06072026132638_certificateundersebi.pdf) |
| 6 Jul - Regulation 31(4) declaration: promoters/PACs had no share encumbrance in FY ended 31 March 2026. | [Disclosure under SEBI Takeover Regulations 6 Jul - Regulation 31(4) declaration: promoters/PACs had no share encumbrance in FY ended 31 March 2026.](https://nsearchives.nseindia.com/corporate/team_sandeshc_30062026115037_encumbrance1.pdf) |
| 6 April 2026 - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 6 April 2026 - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/KANDARP_06042026162928_covering_letter74_5_.pdf) |
| 5 Sep - 25th AGM on 28 Sep 2026; financials adoption, director reappointment, and Anita Jha independent-director reappointment. | [Shareholders meeting 5 Sep - 25th AGM on 28 Sep 2026; financials adoption, director reappointment, and Anita Jha independent-director reappointment.](https://nsearchives.nseindia.com/corporate/KANDARP_05092026115623_noticeofagm.pdf) |
| 5 January 2026 - Regulation 74(5) certificate for quarter ended Dec 31, 2025; securities dematerialised. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 5 January 2026 - Regulation 74(5) certificate for quarter ended Dec 31, 2025; securities dematerialised.](https://nsearchives.nseindia.com/corporate/KANDARP_05012026165745_74_5_.pdf) |
| 30 May 2026 - No deviation in utilization of ₹8.46 crore warrant proceeds for half year ended 31 March 2026. | [Statement of deviation(s) or variation(s) under Reg. 32 30 May 2026 - No deviation in utilization of ₹8.46 crore warrant proceeds for half year ended 31 March 2026.](https://nsearchives.nseindia.com/corporate/KANDARP_30052026183039_standardofdeviation.pdf) |
| 30 May 2026 - Board approved audited standalone results for half year and year ended 31 March 2026; auditors issued unmodified opinion. | [Outcome of Board Meeting 30 May 2026 - Board approved audited standalone results for half year and year ended 31 March 2026; auditors issued unmodified opinion.](https://nsearchives.nseindia.com/corporate/KANDARP_30052026181207_outcomeofbm.pdf) |
| 30 Jul - Company states corporate governance provisions are not applicable for quarter ended 30 June 2026. | [Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter 30 Jul - Company states corporate governance provisions are not applicable for quarter ended 30 June 2026.](https://nsearchives.nseindia.com/corporate/KANDARP_30072026151520_cgnonapplicability.pdf) |
| 27 March 2026 - Kandarp Digi Smart BPO: trading window closed from April 1, 2026 until 48 hours after H1 FY2026 results. | [Trading Window 27 March 2026 - Kandarp Digi Smart BPO: trading window closed from April 1, 2026 until 48 hours after H1 FY2026 results.](https://nsearchives.nseindia.com/corporate/KANDARP_27032026153430_closureoftradingwindow.pdf) |
| 27 Aug - Board approved AGM notice for 28 Sep 2026, director report, and reappointments; e-voting starts 25 Sep 2026. | [Outcome of Board Meeting 27 Aug - Board approved AGM notice for 28 Sep 2026, director report, and reappointments; e-voting starts 25 Sep 2026.](https://nsearchives.nseindia.com/corporate/KANDARP_27082026140701_outcome.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31477_KANDARP_2025_2026_A_4533781_05092026121223.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28387_KANDARP_2024_2025_A_2038320_04092025111938.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25802_KANDARP_2023_2024_05092024145243.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23496_KANDARP_2022_2023_05092023155552_09052023160017.zip) |

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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 2026-09-13T19:57:49.784Z.