Elnet Technologies Ltd

ELNET

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Market Cap

₹ 137 Cr

P/E

7.18

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

HIGH MARGIN

Technicals

Bullish

Risk

LOW RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Elnet Technologies Limited (ETL) is a public company established in 1990, specializing in developing and managing Software Technology Parks in Chennai. They provide infrastructure for the IT and IT-enabled services industry.

The company completed its Taramani project in 1995-96, offering 23 modules of office space for software development, both domestically and internationally.

ETL has diversified into value-added services like Connect Mail and Connect Fax, partnering with Videsh Sanchar Nigam to enhance communication infrastructure.

ETL negotiated a favorable long-term lease arrangement with ELCOT, ensuring longevity and stability for its operations in Chennai.

As of 2005-06, Elnet Software City Limited became a subsidiary, signaling expansion and strategic alignment in tech infrastructure developments.

Sector

Realty

Industry

Construction - Factories / Offices / Commercial

Market Cap

137 Cr

Volatility

Low Risk

P/E Ratio

7.2

Industry P/E

35.8

PEG Ratio

0.6

P/B Ratio

0.8

52W High

450.00

52W Low

311.90

Sales CAGR

-2.03%

1.41%

-0.85%

10Y

0.47%

Profit CAGR

14.94%

11.64%

10.10%

10Y

11.77%

ROE

TTM

11.54%

11.65%

11.74%

10Y

12.00%

ROCE

TTM

13.83%

15.30%

15.39%

10Y

15.67%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
DHARAN	0.31	162 Cr	—	0.55	0.00	-4.35	-3.40	-2.96
VR	180.00	160 Cr	78.60	4.40	0.00	6.00	12.50	2.89
ELNET	342.90	137 Cr	7.18	0.83	0.55	11.54	13.83	10.31
KEMP	1167.95	126 Cr	—	0.75	0.00	-0.66	-0.74	-0.64
NEWINFRA	2.37	119 Cr	—	7.31	0.00	-15.90	0.82	-3.31
RAJABAH	4664.95	117 Cr	89.49	0.00	0.00	11.50	6.55	0.44
SKYLMILAR	27.49	110 Cr	—	4.61	0.00	-1.72	-1.66	-1.90

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	6.72	6.76	6.78	5.89	5.89	6.03	5.88	5.23	6.09	6.25
Expenses	2.35	2.05	2.07	2.11	2.24	1.97	1.99	2.09	2.31	2.10
Operating Profit	4.37	4.71	4.71	3.78	3.65	4.06	3.89	3.14	3.78	4.15
OPM %	65.03	69.67	69.47	64.18	61.97	67.33	66.16	60.04	62.07	66.40
Other Income	1.58	2.14	2.20	2.36	2.30	2.44	2.48	3.00	2.63	2.85
Interest	0.16	0.15	0.17	0.18	0.12	0.12	0.11	0.11	0.11	0.14
Depreciation	0.44	0.42	0.42	0.37	0.37	0.37	0.44	0.43	0.42	0.45
Profit Before Tax	5.36	6.28	6.31	5.60	5.46	6.01	5.82	5.61	5.87	6.40
Tax %	26.68	24.20	24.56	27.68	25.82	26.12	25.77	15.51	14.48	21.56
Net Profit	3.93	4.76	4.76	4.05	4.05	4.45	4.32	4.73	5.02	5.02
EPS in Rs	9.81	11.89	11.90	10.13	10.13	11.12	10.80	11.84	12.55	12.56

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Sales	16	17	21	22	21	22	23	22
Expenses	7.08	8.11	10	10	9.92	10	9.73	11
Operating Profit	8.98	8.77	11	11	12	12	13	12
OPM %	55.92	51.97	50.89	51.59	53.83	53.89	57.08	52.46
Other Income	0.62	0.60	0.54	0.98	1.82	2.06	2.62	3.67
Interest	0.98	0.35	0.02	0.00	0.00	0.00	0.20	0.19
Depreciation	2.91	2.66	3.26	3.45	4.91	4.16	3.30	2.80
Profit Before Tax	5.71	6.36	8.02	8.65	8.47	9.80	12	12
Tax %	36.13	33.70	32.81	32.46	33.60	34.21	35.03	27.02
Net Profit	3.65	4.21	5.39	5.84	5.63	6.45	7.83	9.00
EPS in Rs	—	—	—	—	—	—	—	—
Dividend Payout %	13.16	11.40	10.39	9.59	9.95	10.55	7.15	6.67

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Equity Capital	4.00	4.00	4.00	4.00	4.00	4.00	4.00	4.00
Reserves	25	29	34	39	43	49	55	64
Borrowings	8.73	4.26	4.26	4.26	4.26	4.26	4.26	4.26
Other Liabilities	14	14	15	16	15	16	15	16
Total Liabilities	52	52	57	63	67	74	78	88
Fixed Assets	38	37	42	41	38	37	23	23
CWIP	0.02	0.18	0.03	0.03	0.03	0.04	0.00	0.37
Investments	3.03	3.03	3.03	3.03	3.03	7.03	7.30	8.04
Other Assets	11	11	12	19	26	30	48	57
Total Assets	52	52	57	63	67	74	78	88

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Cash from Operating Activity	7.38	5.66	8.20	8.34	1.03	2.60	-8.22	25
Cash from Investing Activity	-0.07	-1.93	-7.21	-3.64	-1.00	-2.83	9.94	-24
Cash from Financing Activity	-5.85	-4.53	0.56	0.02	-0.16	0.18	-1.02	-0.87
Net Cash Flow	1.46	-0.81	1.55	4.72	-0.13	-0.05	0.71	-0.35

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	52.85%	52.85%	52.85%	52.85%	52.85%	52.85%	52.85%	52.85%	52.85%	52.85%	52.85%	52.85%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	47.15%	47.15%	47.15%	46.98%	47.15%	47.15%	47.15%	47.15%	47.15%	47.15%	47.15%	47.15%
Total Shareholders	5,164	5,057	4,990	4,862	5,616	5,589	5,568	5,642	5,361	5,315	5,248	5,090

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Oct 10, 2023	Mukul avanish varma	Bulk	Sell	226.66	0.50 Cr	21,850	0.54
Jul 20, 2023	Sushila shantilal shah	Bulk	Buy	267.26	0.98 Cr	36,760	0.91
Jul 20, 2023	Mukul avanish varma	Bulk	Sell	303.10	0.48 Cr	15,812	0.39
Jul 20, 2023	Sushila shantilal shah	Bulk	Sell	303.15	0.08 Cr	2,606	0.06
Jul 20, 2023	Mukul avanish varma	Bulk	Buy	290.68	1.88 Cr	64,586	1.61

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Oscillators

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Neutral

Bearish

Neutral

Bullish

Overall

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Bearish

Neutral

Bullish

Moving Averages

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Bullish

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Bullish

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	6.72	6.76	6.78	5.89	5.89	6.03	5.88	5.23	6.09	6.25
Expenses	2.35	2.05	2.07	2.11	2.24	1.97	1.99	2.09	2.31	2.10
Operating Profit	4.37	4.71	4.71	3.78	3.65	4.06	3.89	3.14	3.78	4.15
OPM %	65.03	69.67	69.47	64.18	61.97	67.33	66.16	60.04	62.07	66.40
Other Income	1.58	2.14	2.20	2.36	2.30	2.44	2.48	3.00	2.63	2.85
Interest	0.16	0.15	0.17	0.18	0.12	0.12	0.11	0.11	0.11	0.14
Depreciation	0.44	0.42	0.42	0.37	0.37	0.37	0.44	0.43	0.42	0.45
Profit Before Tax	5.36	6.28	6.31	5.60	5.46	6.01	5.82	5.61	5.87	6.40
Tax %	26.68	24.20	24.56	27.68	25.82	26.12	25.77	15.51	14.48	21.56
Net Profit	3.93	4.76	4.76	4.05	4.05	4.45	4.32	4.73	5.02	5.02
EPS in Rs	9.81	11.89	11.90	10.13	10.13	11.12	10.80	11.84	12.55	12.56

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Sales	16	17	21	22	21	22	23	22
Expenses	7.08	8.11	10	10	9.92	10	9.73	11
Operating Profit	8.98	8.77	11	11	12	12	13	12
OPM %	55.92	51.97	50.89	51.59	53.83	53.89	57.08	52.46
Other Income	0.62	0.60	0.54	0.98	1.82	2.06	2.62	3.67
Interest	0.98	0.35	0.02	0.00	0.00	0.00	0.20	0.19
Depreciation	2.91	2.66	3.26	3.45	4.91	4.16	3.30	2.80
Profit Before Tax	5.71	6.36	8.02	8.65	8.47	9.80	12	12
Tax %	36.13	33.70	32.81	32.46	33.60	34.21	35.03	27.02
Net Profit	3.65	4.21	5.39	5.84	5.63	6.45	7.83	9.00
EPS in Rs	—	—	—	—	—	—	—	—
Dividend Payout %	13.16	11.40	10.39	9.59	9.95	10.55	7.15	6.67

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Equity Capital	4.00	4.00	4.00	4.00	4.00	4.00	4.00	4.00
Reserves	25	29	34	39	43	49	55	64
Borrowings	8.73	4.26	4.26	4.26	4.26	4.26	4.26	4.26
Other Liabilities	14	14	15	16	15	16	15	16
Total Liabilities	52	52	57	63	67	74	78	88
Fixed Assets	38	37	42	41	38	37	23	23
CWIP	0.02	0.18	0.03	0.03	0.03	0.04	0.00	0.37
Investments	3.03	3.03	3.03	3.03	3.03	7.03	7.30	8.04
Other Assets	11	11	12	19	26	30	48	57
Total Assets	52	52	57	63	67	74	78	88

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Cash from Operating Activity	7.38	5.66	8.20	8.34	1.03	2.60	-8.22	25
Cash from Investing Activity	-0.07	-1.93	-7.21	-3.64	-1.00	-2.83	9.94	-24
Cash from Financing Activity	-5.85	-4.53	0.56	0.02	-0.16	0.18	-1.02	-0.87
Net Cash Flow	1.46	-0.81	1.55	4.72	-0.13	-0.05	0.71	-0.35

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
DHARAN	0.31	162 Cr	—	0.55	0.00	-4.35	-3.40	-2.96
VR	180.00	160 Cr	78.60	4.40	0.00	6.00	12.50	2.89
ELNET	342.90	137 Cr	7.18	0.83	0.55	11.54	13.83	10.31
KEMP	1167.95	126 Cr	—	0.75	0.00	-0.66	-0.74	-0.64
NEWINFRA	2.37	119 Cr	—	7.31	0.00	-15.90	0.82	-3.31
RAJABAH	4664.95	117 Cr	89.49	0.00	0.00	11.50	6.55	0.44
SKYLMILAR	27.49	110 Cr	—	4.61	0.00	-1.72	-1.66	-1.90

Overview

Detailed Summary

The company completed its Taramani project in 1995-96, offering 23 modules of office space for software development, both domestically and internationally.

ETL has diversified into value-added services like Connect Mail and Connect Fax, partnering with Videsh Sanchar Nigam to enhance communication infrastructure.

ETL negotiated a favorable long-term lease arrangement with ELCOT, ensuring longevity and stability for its operations in Chennai.

As of 2005-06, Elnet Software City Limited became a subsidiary, signaling expansion and strategic alignment in tech infrastructure developments.

Sector

Realty

Industry

Construction - Factories / Offices / Commercial

Market Cap

137 Cr

Volatility

Low Risk

P/E Ratio

7.2

Industry P/E

35.8

PEG Ratio

0.6

P/B Ratio

0.8

52W High

450.00

52W Low

311.90

Sales CAGR

-2.03%

1.41%

-0.85%

10Y

0.47%

Profit CAGR

14.94%

11.64%

10.10%

10Y

11.77%

ROE

TTM

11.54%

11.65%

11.74%

10Y

12.00%

ROCE

TTM

13.83%

15.30%

15.39%

10Y

15.67%