---
title: "Polaris Consulting & Services Ltd (POLARIS) — Share Price, Financials & Analysis"
symbol: "POLARIS"
company: "Polaris Consulting & Services Ltd"
canonical: "https://tapetide.com/stocks/POLARIS"
generated_at: "2026-10-13T12:45:51.319Z"
---

# Polaris Consulting & Services Ltd (POLARIS)

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

## Company

- **Stock Type:** EQUITY
- **Face Value:** ₹5
- **F&O Eligible:** No
- **Website:** polarisft.com

## About

Polaris Consulting & Services (Polaris) is one of the leading Digital Transformation companies in the world with particular emphasis on the Financial Services industry.

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.
- Stock is trading at 0.02 times its book value
- Market value of investments Rs.92.6 Cr. is more than the Market Cap Rs.39.2 Cr.

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Contingent liabilities of Rs.172 Cr.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 6% | 28% | 5% |
| revenue growth | 19% | 15% | 5% |

## Financial Statements

### Quarterly Results

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

| Item | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 493 | 542 | 517 | 499 | 498 | 509 | 519 | 569 | 555 | 672 | 680 | 721 |
| Expenses | 435 | 451 | 454 | 477 | 436 | 450 | 460 | 524 | 509 | 563 | 594 | 618 |
| Operating Profit | 57 | 91 | 63 | 22 | 62 | 59 | 59 | 45 | 46 | 109 | 86 | 104 |
| OPM % | 12 | 17 | 12 | 4.4 | 13 | 12 | 11 | 8 | 8 | 16 | 13 | 14 |
| Other Income | 5 | 2 | -8 | -2 | 4 | 8 | 17 | 6 | 3 | 4 | 4 | 7 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 7 | 7 | 6 | 6 | 6 | 6 | 7 | 5 | 6 | 6 | 7 | 7 |
| Profit before tax | 56 | 86 | 49 | 14 | 60 | 62 | 69 | 46 | 44 | 107 | 83 | 104 |
| Tax % | 34 | 34 | 45 | 233 | 34 | 33 | 30 | 27 | 31 | 32 | 33 | 34 |
| Net Profit | 37 | 57 | 27 | -18 | 40 | 41 | 48 | 33 | 30 | 72 | 55 | 69 |
| EPS in Rs | 3.67 | 5.69 | 2.67 | -1.82 | 3.93 | 4.06 | 4.74 | 3.24 | 2.96 | 7.07 | 5.39 | 6.66 |

### Profit & Loss

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

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1354 | 1595 | 2049 | 2259 | 2424 | 1893 | 2051 | 2094 | 2627 | 3124 |
| Expenses | 1132 | 1391 | 1790 | 2010 | 2206 | 1673 | 1823 | 1868 | 2291 | 2800 |
| Operating Profit | 222 | 204 | 259 | 249 | 217 | 221 | 229 | 226 | 336 | 325 |
| OPM % | 16 | 13 | 13 | 11 | 9 | 12 | 11 | 11 | 13 | 10 |
| Other Income | -7 | 69 | 74 | 51 | 79 | 39 | 2 | 34 | 26 | 57 |
| Interest | 1 | 1 | 3 | 4 | 3 | 1 | 0 | 0 | 0 | 0 |
| Depreciation | 35 | 34 | 47 | 54 | 54 | 28 | 26 | 24 | 25 | 30 |
| Profit before tax | 179 | 238 | 283 | 243 | 239 | 231 | 204 | 236 | 337 | 351 |
| Tax % | 14 | 15 | 22 | 20 | 17 | 28 | 50 | 31 | 33 | 32 |
| Net Profit | 153 | 202 | 220 | 199 | 199 | 167 | 102 | 162 | 226 | 239 |
| EPS in Rs | 15.44 | 20.41 | 22.2 | 20.18 | 20 | 16.74 | 10.07 | 15.91 | 21.99 | 23.16 |
| Dividend Payout % | 23 | 22 | 23 | 25 | 31 | 90 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 49 | 50 | 50 | 50 | 50 | 50 | 51 | 51 | 51 | 52 |
| Reserves | 823 | 983 | 1170 | 1293 | 1498 | 801 | 884 | 1043 | 1280 | 1526 |
| Borrowings | 2 | 6 | 106 | 121 | 4 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 303 | 369 | 463 | 551 | 514 | 442 | 364 | 361 | 442 | 489 |
| Total Liabilities | 1178 | 1407 | 1789 | 2015 | 2065 | 1293 | 1299 | 1455 | 1774 | 2066 |
| Fixed Assets | 265 | 293 | 528 | 563 | 409 | 235 | 161 | 200 | 217 | 240 |
| CWIP | 12 | 51 | 41 | 50 | 45 | 0 | 0 | 3 | 2 | 0 |
| Investments | 390 | 384 | 180 | 301 | 459 | 125 | 245 | 156 | 32 | 103 |
| Other Assets | 510 | 680 | 1040 | 1101 | 1152 | 933 | 893 | 1097 | 1523 | 1723 |
| Total Assets | 1178 | 1407 | 1789 | 2015 | 2065 | 1293 | 1299 | 1455 | 1774 | 2066 |

### Cash Flow

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

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 254 | 100 | 19 | 152 | 371 | 56 | 296 | 100 | 188 | 200 |
| Cash from Investing Activity | -205 | -67 | 19 | -123 | -174 | -21 | -19 | -38 | 134 | -219 |
| Cash from Financing Activity | -31 | -15 | 28 | -31 | -172 | -75 | -149 | 10 | 12 | -9 |
| Net Cash Flow | 18 | 19 | 65 | -2 | 26 | -40 | 128 | 71 | 334 | -27 |
| Free Cash Flow | 220 | 18 | -102 | 109 | 341 | -17 | 276 | 96 | 147 | 95 |
| CFO/OP | 128 | 75 | 30 | 87 | 202 | 49 | 166 | 83 | 86 | 105 |

### Ratios

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 47 | 52 | 66 | 66 | 55 | 46 | 45 | 56 | 40 | 39 |
| Cash Conversion Cycle | 47 | 52 | 66 | 66 | 55 | 46 | 45 | 56 | 40 | 39 |
| Working Capital Days | 22 | 19 | 47 | 37 | 33 | 39 | 29 | 42 | 36 | 41 |
| ROCE % | 22 | 24 | 22 | 16 | 15 | 19 | 25 | 22 | 27 | 24 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Jun 2018 |
| --- | --- | --- | --- |
| Promoters | 74.5% | 92.64% | 92.54% |
| FIIs | 7.6% | 0.29% | 0.26% |
| DIIs | 2.86% | 0.86% | 0.87% |
| Public | 14.94% | 6.2% | 6.32% |
| Others | 0.1% | 0.01% | 0.01% |
| No. of Shareholders | 41986 | 24056 | 22985 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 78.65% | 78.61% | 74.89% | 74.5% | 74.44% | 74.42% | 74.22% | 92.64% | 92.54% |
| FIIs | 8.62% | 8.4% | 8.71% | 7.6% | 6.79% | 6.58% | 4.86% | 0.29% | 0.26% |
| DIIs | 1.69% | 1.84% | 2.39% | 2.86% | 4.13% | 4.48% | 5.33% | 0.86% | 0.87% |
| Public | 10.93% | 11.05% | 13.91% | 14.94% | 14.55% | 14.43% | 15.5% | 6.2% | 6.32% |
| Others | 0.11% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.08% | 0.01% | 0.01% |
| No. of Shareholders | 41929 | 41536 | 42992 | 41986 | 40985 | 39891 | 38531 | 24056 | 22985 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2018-07-26 | [Exit Letter Of Offer](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5a99fb8c-95d4-4ceb-8095-1597efa72cba.pdf) |
| 2018-07-26 | [Exit Letter Of Offer](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/7/5a99fb8c-95d4-4ceb-8095-1597efa72cba.pdf) |
| 2018-06-29 | [SEBI Settlement Order Dated 29Th June 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=17ead733-4f82-440c-8b45-f55fd00dd52d.pdf) |
| 2018-06-29 | [SEBI Settlement Order Dated 29Th June 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/6/17ead733-4f82-440c-8b45-f55fd00dd52d.pdf) |
| 2018-06-26 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ee1ee5cb-8a04-41c5-a8e2-d61e3981e814.pdf) |
| 2018-06-26 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/6/ee1ee5cb-8a04-41c5-a8e2-d61e3981e814.pdf) |
| 2018-06-25 | [Intimation Of Q1 Board Meeting And Closure Of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=14e1a4c5-4d97-4457-9dfd-c27955112ba2.pdf) |
| 2018-06-25 | [Intimation Of Q1 Board Meeting And Closure Of Trading Window](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/6/14e1a4c5-4d97-4457-9dfd-c27955112ba2.pdf) |
| 2018-06-20 | [Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=73f19ba2-4e8d-4e08-b92c-d46dc7b4ddab.pdf) |
| 2018-06-20 | [Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/6/73f19ba2-4e8d-4e08-b92c-d46dc7b4ddab.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| Mar 2017 | [Annual Report 2017](https://www.bseindia.com/bseplus/AnnualReport/532254/5322540317.pdf) |
| Mar 2016 | [Annual Report 2016](https://www.bseindia.com/bseplus/AnnualReport/532254/5322540316.pdf) |
| Mar 2015 | [Annual Report 2015](https://www.bseindia.com/bseplus/AnnualReport/532254/5322540315.pdf) |
| Mar 2014 | [Annual Report 2014](https://www.bseindia.com/bseplus/AnnualReport/532254/5322540314.pdf) |
| Mar 2013 | [Annual Report 2013](https://www.bseindia.com/bseplus/AnnualReport/532254/5322540313.pdf) |
| Mar 2012 | [Annual Report 2012](https://www.bseindia.com/bseplus/AnnualReport/532254/5322540312.pdf) |
| Mar 2011 | [Annual Report 2011](https://www.bseindia.com/bseplus/AnnualReport/532254/5322540311.pdf) |
| Mar 2010 | [Annual Report 2010](https://www.bseindia.com/bseplus/AnnualReport/532254/5322540310.pdf) |
| 2010 | [Annual Report 2010](https://archives.nseindia.com/annual_reports/AR_POLARIS_2009_2010_01092010120000.zip) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2017 | [Concall - Nov 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9a0a99be-0ca8-42ea-abdd-0e1f26637f2d.pdf) |
| Feb 2017 | [Concall - Feb 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=C5B57EB4_5E58_472E_8154_E1DE71BC9762_183459.pdf) |
| Nov 2016 | [Concall - Nov 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2262FB64_AB3A_4C01_9809_B86230520004_090721.pdf) |
| Aug 2016 | [Concall - Aug 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0F79E754_1133_4C57_9DB3_72924EEBCBC3_081955.pdf) |
| May 2016 | [Concall - May 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=BF50C29C_98E0_49E3_A245_7888F5DEFDD3_075742.pdf) |
| Feb 2016 | [Concall - Feb 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=D1F54949_CE52_46F6_A967_8929FECA72B2_145705.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2019-05-20 | Credit rating update — CRISIL |
| 2018-05-30 | Credit rating update — CRISIL |

---

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 2026-10-13T12:45:51.319Z.