---
title: "VL E-Governance & IT Solutions Ltd (VLEGOV) — Share Price, Financials & Analysis"
symbol: "VLEGOV"
company: "VL E-Governance & IT Solutions Ltd"
canonical: "https://tapetide.com/stocks/VLEGOV"
isin: "INE03HW01020"
nse_symbol: "VLEGOV"
bse_code: "543958"
sector: "Information Technology"
industry: "IT - Services"
market_cap_cr: 111.7
generated_at: "2026-09-13T20:37:08.059Z"
---

# VL E-Governance & IT Solutions Ltd (VLEGOV)

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

## Company

- **NSE Symbol:** VLEGOV
- **BSE Code:** 543958
- **ISIN:** INE03HW01020
- **Sector:** Information Technology
- **Industry:** IT - Services
- **Macro Sector:** Information Technology
- **Stock Type:** EQUITY
- **Listed Since:** 2023-08-14
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** vlegovernance.in

## About

Incorporated in 2016, VL E-Governance 
& IT Solutions Ltd is in the business of
E-Governance & IT/ITES Business (B2B)[1]

## Latest Price

- **Price:** ₹10.24
- **Change:** +0.37 (+3.75%)
- **Open:** ₹10.01
- **Day High:** ₹10.3
- **Day Low:** ₹9.4
- **Previous Close:** ₹9.87
- **Volume:** 148242
- **As Of:** 2026-09-11T10:01:43+00:00

## Key Fundamentals

Observed at 2026-09-11T04:36:18.948209Z.

- **Market Cap:** ₹111.7 Cr
- **Classification:** Microcap
- **P/E (reported):** -44.7
- **EPS (TTM):** ₹-0.22
- **Book Value:** ₹4.11
- **Price to Book:** 2.39
- **Dividend Yield:** 0%
- **ROE:** -5508.13%
- **ROCE:** -5505.84%
- **Debt to Equity:** 0
- **Revenue (yearly):** ₹17.15 Cr
- **Net Income:** ₹-1.1 Cr
- **EBITDA:** ₹-1.48 Cr
- **52-Week High:** ₹38.9
- **52-Week Low:** ₹8.42
- **RSI (14):** 39.79

## Tapetide Score

- **Score:** 36 / 100
- **Score date:** 2026-09-04
- **Archetype:** Weak and Under Pressure
- **What it means:** Weak financials are the defining feature, and neither the valuation nor the trend reading is strong enough to offset them. Worth reading the risk flags and recent filings closely before anything else.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Falling
- **Percentile:** 7.3 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 85.3 | 9% |
| growth | 4.59 | 9% |
| momentum | 24.22 | 12% |
| ownership | 38.6 | 24% |
| quality | 43.91 | 22% |
| valuation | 39.73 | 24% |

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

## Key Insights

### Strengths

- Company is almost debt free.
- Debtor days have improved from 9,623 to 24.7 days.

### Weaknesses

- Company has low interest coverage ratio.
- Promoter holding is low: 23.2%
- Company has a low return on equity of -0.19% over last 3 years.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | — | -4.87% | — |
| ebitda margin growth | 16.67% | -288.74% | -75.34% | -135.83% |
| net income growth | 0% | -99.96% | -99.35% | -101.07% |
| revenue growth | -41.67% | -47.07% | -71% | -50.64% |
| roce | — | — | — | -805.78% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 22.01 | 0 | 0 | 2.51 | 7.99 | 15.21 | 4.97 | 8.24 | 3.25 | 4.48 | 1.19 | 0.65 |
| Expenses | 23.33 | 1.06 | 1.25 | 1.93 | 7.3 | 15.11 | 6.61 | 7.89 | 3.78 | 5.18 | 1.79 | 1.22 |
| Operating Profit | -1.32 | -1.06 | -1.25 | 0.58 | 0.69 | 0.1 | -1.64 | 0.35 | -0.53 | -0.7 | -0.6 | -0.57 |
| OPM % | -6 | — | — | 23.11 | 8.64 | 0.66 | -33 | 4.25 | -16.31 | -15.62 | -50.42 | -87.69 |
| Other Income | 0.32 | 0.03 | -162.22 | 0.03 | 0.12 | 0.86 | -2517.72 | 0.38 | 0.05 | 0.03 | 0.05 | 0.03 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Profit before tax | -1 | -1.03 | -163.47 | 0.61 | 0.81 | 0.95 | -2519.39 | 0.7 | -0.51 | -0.7 | -0.58 | -0.57 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.43 | 1.96 | 1.43 | 1.72 | 1.75 |
| Net Profit | -1 | -1.03 | -163.47 | 0.61 | 0.81 | 0.94 | -2519.4 | 0.69 | -0.52 | -0.71 | -0.59 | -0.57 |
| EPS in Rs | -0.09 | -0.1 | -15.43 | 0.06 | 0.08 | 0.09 | -232.31 | 0.06 | -0.05 | -0.07 | -0.05 | -0.05 |

### Profit & Loss

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.52 | 0.22 | 0.02 | 0 | 174.59 | 729.53 | 22.01 | 30.69 | 17.15 | 9.57 |
| Expenses | 2.4 | 1.1 | -0.01 | 0.01 | 38.2 | 724.19 | 30.08 | 30.95 | 18.63 | 11.97 |
| Operating Profit | -1.88 | -0.88 | 0.03 | -0.01 | 136.39 | 5.34 | -8.07 | -0.26 | -1.48 | -2.4 |
| OPM % | -361.54 | -400 | 150 | — | 78.12 | 0.73 | -36.67 | -0.85 | -8.63 | -25.08 |
| Other Income | 0.2 | 0.3 | 0.04 | 0.03 | 0.56 | 2.79 | -161.86 | -2516.71 | 0.51 | 0.16 |
| Interest | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.01 | 0.03 | 0.03 | 0.02 | 0 | 0 | 0 | 0.04 | 0.14 | 0.12 |
| Profit before tax | -1.7 | -0.61 | 0.04 | 0 | 136.95 | 8.13 | -169.93 | -2517.01 | -1.11 | -2.36 |
| Tax % | 0 | 0 | 0 | — | 25.13 | 27.55 | 0 | 0 | 2.7 | — |
| Net Profit | -1.69 | -0.61 | 0.04 | 0 | 102.52 | 5.89 | -169.93 | -2517.03 | -1.13 | -2.39 |
| EPS in Rs | — | — | — | — | — | — | -16.04 | -232.09 | -0.1 | -0.22 |
| Dividend Payout % | 0 | 0 | 0 | — | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 12 | 12 | 12 | 12 | 105.95 | 105.95 | 105.95 | 108.45 | 108.45 |
| Reserves | -2.38 | -2.99 | -2.94 | -2.95 | 2506.51 | 2512.4 | 2342.47 | -62.76 | -63.89 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 53.67 | 51.09 | 0 | 0 |
| Other Liabilities | 0.48 | 0.04 | 0.02 | 0.02 | 39.29 | 26.9 | 17.64 | 2.8 | 2.64 |
| Total Liabilities | 10.1 | 9.05 | 9.08 | 9.07 | 2651.75 | 2698.92 | 2517.15 | 48.49 | 47.2 |
| Fixed Assets | 0.02 | 0.05 | 0.02 | 0 | 0 | 0 | 0 | 2.35 | 2.35 |
| CWIP | 0.06 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.14 |
| Other Assets | 10.02 | 9 | 9.06 | 9.07 | 2651.75 | 2698.92 | 2517.15 | 46.14 | 44.71 |
| Total Assets | 10.1 | 9.05 | 9.08 | 9.07 | 2651.75 | 2698.92 | 2517.15 | 48.49 | 47.2 |

### Cash Flow

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | — | 0.02 | -0.02 | -0.47 | -56.48 | 2.2 | -59.23 | 0.32 |
| Cash from Investing Activity | — | — | 0.03 | 0.03 | 0.02 | 2.77 | 0.43 | -1.59 | 0.22 |
| Cash from Financing Activity | — | — | 0 | 0 | 0 | 53.67 | -2.59 | 63.22 | 0 |
| Net Cash Flow | — | — | 0.05 | 0.01 | -0.45 | -0.04 | 0.05 | 2.41 | 0.54 |
| Free Cash Flow | — | — | 0.02 | -0.02 | -0.47 | -56.48 | 2.2 | -59.23 | 0.18 |
| CFO/OP | — | — | -100 | 200 | 0 | -473 | -27 | 22781 | -22 |

### Ratios

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 112.31 | 33.18 | 0 | — | 1909.11 | 578.26 | 19222.12 | 0 | 24.69 |
| Inventory Days | — | — | — | — | — | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 112.31 | 33.18 | 0 | — | 1909.11 | 578.26 | 19222.12 | 0 | 24.69 |
| Working Capital Days | -168.46 | 13455.23 | 146912.5 | — | 5405.24 | 1295.14 | 40101.58 | -25.57 | -16.81 |
| ROCE % | — | -6.55 | 0.44 | 0 | 10.45 | 0.31 | -0.3 | 0.11 | -2.46 |

## 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 | 42.6% | 37.88% | 33.16% | 33.16% | 23.79% | 23.79% | 23.24% | 23.24% | 23.24% | 23.24% | 23.24% | 23.24% |
| FIIs | 3.08% | 1.8% | 1.94% | 1.86% | 3.04% | 3.24% | 2.14% | 2.29% | 2.17% | 1.47% | 1.37% | 1.08% |
| DIIs | 6.32% | 6.32% | 6.32% | 6.32% | 6.32% | 6.32% | 6.17% | 6.17% | 6.17% | 6.15% | 6.14% | 6.13% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 35.19% | 38.01% | 40.03% | 38.41% | 40.92% | 39.75% | 43.49% | 43.86% | 45.25% | 49.33% | 50.42% | 50.89% |
| Others | 12.81% | 15.99% | 18.55% | 20.25% | 25.94% | 26.9% | 24.95% | 24.44% | 23.17% | 19.81% | 18.82% | 18.66% |
| No. of Shareholders | 185686 | 173287 | 159966 | 152243 | 144045 | 138829 | 139580 | 137050 | 136483 | 135394 | 134531 | 132542 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 0 / 7 / 12

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 10.34 | Sell |
| EMA (10) | 10.32 | Sell |
| SMA (20) | 10.28 | Sell |
| EMA (20) | 10.39 | Sell |
| SMA (50) | 10.63 | Sell |
| EMA (50) | 10.87 | Sell |
| SMA (100) | 12.24 | Sell |
| EMA (100) | 12.17 | Sell |
| SMA (200) | 14.3 | Sell |
| EMA (200) | 17.4 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 46.43 | Neutral |
| MACD (12,26,9) | -0.12 | Sell |
| Stochastic (14,3,3) | 23.55 | Neutral |
| ADX (14) | 21.64 | Neutral |
| Williams %R (14) | -65 | Neutral |
| ATR (14) | 0.53 | High Volatility |
| ROC (12) | -8.9 | Sell |
| Stoch RSI (14) | 31.63 | Neutral |
| UO (7,14,28) | 48.66 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-05 | [Announcement under Regulation 30 (LODR)-Resignation of Chairman](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fec6fae1-7cf5-4be0-91c1-cc423a31801d.pdf) |
| 2026-09-01 | [Notice Of 10Th Annual General Meeting (AGM) Of The Company To Be Held On 24Th September 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=12867064-3873-4826-aac0-0a0d4d51f4df.pdf) |
| 2026-09-01 | [Intimation Of Book Closure](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=375c94ca-efc5-479f-908b-2e16908199d3.pdf) |
| 2026-09-01 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bc3d2953-59e7-46ad-98db-1d3c9c7a595d.pdf) |
| 2026-08-12 | [Announcement under Regulation 30 (LODR)-Monitoring Agency Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dcfe6322-fe3d-4f6c-9169-39e9b30a4be0.pdf) |
| 2026-08-10 | [Board Meeting Outcome for Outcome Of Board Meeting Held On Monday 10Th August 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=22c57012-48d8-465b-bbaf-6f68cd102066.pdf) |
| 2026-08-10 | [RESULTS PERFORMANCE UPDATE PRESENTATION - Q1 FY2026-27 RESULTS UPDATE](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ff4d60e8-efc1-4ea6-9048-b0c1438db2e9.pdf) |
| 2026-08-04 | [Board Meeting Intimation for Notice Of Board Meeting To Be Held On 10Th August 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a3cd070e-81ec-4317-9321-03f23e9cc312.pdf) |
| 2026-06-24 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9acb6cc2-72cc-4227-b4ec-4cbd9d03d215.pdf) |
| 2026-05-22 | [Board Meeting Outcome for Outcome Of Board Meeting Held On Thursday 21St May 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9bc096bc-3a85-487a-801d-3cf41531cb57.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9 Feb - Q3 loss with revenue down 70.5% QoQ; MoU for ₹800 crore Sankalp EPC; proposed 40% HETL acquisition. | [Results Performance Update Presentation - Q3 FY 2025-26 Results Update 9 Feb - Q3 loss with revenue down 70.5% QoQ; MoU for ₹800 crore Sankalp EPC; proposed 40% HETL acquisition.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/faff2fe7-03c5-4dbb-a0df-42a00c393f67.pdf) |
| 9 Apr - Company replies to BSE price-movement query, citing no undisclosed material event. | [Reply To The Clarification Sought On Price Movement 9 Apr - Company replies to BSE price-movement query, citing no undisclosed material event.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d0eac54b-6620-4294-987c-2b772fcf33a8.pdf) |
| 7 Feb - Approved Q3/9M FY2025-26 unaudited results (31 Dec 2025); Q3 revenue ₹448.00L; appointed K J Kabra & Associates. | [Board Meeting Outcome for VL E Governance & IT Solutions Limited Has informed Regarding Outcome Of Board Meeting Held On February 07, 2026. 7 Feb - Approved Q3/9M FY2025-26 unaudited results (31 Dec 2025); Q3 revenue ₹448.00L; appointed K J Kabra & Associates.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/399ded54-40ab-44c3-ae37-9a3dae77531f.pdf) |
| 24 Feb - No undisclosed information; attributes price movement to market forces; confirms Listing Regulations compliance. | [Clarification On Price Movement 24 Feb - No undisclosed information; attributes price movement to market forces; confirms Listing Regulations compliance.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c4159caf-b701-4994-a103-e2b4c1b8a54a.pdf) |
| 12 Feb - CARE report: Rs.630cr issue; Rs.400.99cr subscribed; Rs.114.31cr received; undersubscription and sharp share-price decline noted (Dec 31, 2025). | [Announcement under Regulation 30 (LODR)-Monitoring Agency Report 12 Feb - CARE report: Rs.630cr issue; Rs.400.99cr subscribed; Rs.114.31cr received; undersubscription and sharp share-price decline noted (Dec 31, 2025).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/57271d49-a6e6-40e3-8f50-0ec17bd56150.pdf) |
| — | [Closure of Trading Window 27 Mar](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d032212c-843a-4e05-9582-8495741e8a0d.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2025-08-02 | [Un-Audited Standalone Financial Results For The First Quarter And Three Months Ended June 30 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6dc7fef2-b3e8-4c51-a18c-17ae217d8fc1.pdf) |
| 2024-10-08 | [Board Meeting Held To Approved Un-Audited Financial Results For The Quarter And Half Year Ended September 30, 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c45541d3-6b56-4bad-9e8e-4609c4842464.pdf) |
| 2024-07-09 | [Results-Financial Results For The First Quarter Ended June 30, 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=61b1e946-903b-4ef4-8e61-c7ed8377e6cb.pdf) |
| 2024-04-19 | [Audited Standalone Financial Result For The Quarter And Financial Year Ended March 31, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3fc84e86-5074-406b-85a9-4cb76da6eacb.pdf) |
| 2024-01-06 | [Un-Audited Financial Result For Quarter Ended December 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8745da73-4978-45db-96ba-3b3ca94619a3.pdf) |
| 2023-11-11 | [Un-Audited Financial Results For Quarter/Half Year Ended September 30, 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a831cc87-2bd8-45f7-8a3d-444b86dd5f3e.pdf) |
| 2023-08-18 | [Un-Audited Standalone Financial Results For The Quarter Ended June 30, 2023.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e52ab281-fee8-4ffb-b4d5-05967c885d70.pdf) |
| 2023-08-17 | [Un-Audited Standalone Financial Results For The Quarter Ended June 30, 2023.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4373e5de-15ff-45d3-ae3e-112e7c690529.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/35384650-3d26-42b4-ac31-94393d77da0e.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9af50518-f597-4e3e-b1a8-dabb24a7bcf4.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 2026-09-13T20:37:08.059Z.