Sancode Technologies Ltd

SANCODE

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Market Cap

₹ 64 Cr

P/E

130.08

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Investment Checklist

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Performance

MARKET LEADER

Valuation

OVERVALUED

Growth

SLUGGISH

Profitability

HIGH MARGIN

Technicals

Bullish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Sancode Technologies Limited is a software and product development company focusing on API enabled platforms and solutions, driving digital transformation for organizations with a focus on finance automation.

They operate in diverse areas such as cloud migration, AI, machine learning, RPA, and offer solutions for digital transformation and system integration.

Sancode caters to a wide range of industries, including manufacturing, FMCG, banking, retail, and real estate primarily in the USA.

The company has signed numerous business partnership agreements to rapidly accelerate technology adoption and innovation projects for corporations.

Sancode undertook a public equity issue in March 2023 to raise funds for expansion and has formed a joint venture under the name Sanfin Technologies Private Limited.

Sector

IT - Software

Industry

Computers - Software - Medium / Small

Market Cap

64 Cr

Volatility

Low Risk

P/E Ratio

130.1

Industry P/E

38.4

PEG Ratio

0.9

P/B Ratio

11.6

52W High

216.20

52W Low

31.60

Sales CAGR

190.13%

-32.06%

-1.08%

10Y

—

Profit CAGR

148.57%

-55.93%

—

10Y

—

ROE

TTM

20.07%

-1.95%

3.56%

10Y

—

ROCE

TTM

17.57%

-4.47%

1.65%

10Y

—

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SATECH	51.20	67 Cr	9.01	1.69	0.00	5.81	7.41	2.71
SAGARSOFT	103.45	66 Cr	287.36	0.91	1.93	0.32	-0.90	-3.29
VEDAVAAG	28.07	66 Cr	9.39	0.43	1.76	4.63	7.04	3.72
CRANESSOFT	4.24	65 Cr	—	0.00	0.00	0.35	0.51	-245.52
VERTEXPLUS	117.00	64 Cr	73.13	2.67	0.00	2.46	5.54	1.77
SANCODE	157.40	64 Cr	130.08	11.57	0.00	20.07	17.57	20.50
RAMINFO	77.00	62 Cr	23.63	0.88	0.00	3.74	4.68	2.03

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Sep 2024
Sales	0.01	0.12	0.42	0.43	1.40	2.52	5.76
Expenses	0.65	0.55	0.64	1.26	2.09	2.49	6.72
Operating Profit	-0.64	-0.43	-0.22	-0.83	-0.69	0.03	-0.96
OPM %	-6,400.00	-358.33	-52.38	-193.02	-49.29	1.19	-16.67
Other Income	0.02	0.00	0.00	0.00	0.05	0.03	0.05
Interest	0.00	0.00	0.00	0.00	0.01	0.00	0.01
Depreciation	0.00	0.00	0.00	0.00	0.01	0.02	0.05
Profit Before Tax	-0.63	-0.43	-0.23	-0.83	-0.66	0.04	-0.97
Tax %	0.00	0.00	0.00	0.00	0.00	150.00	0.00
Net Profit	-0.63	-0.43	-0.23	-0.83	-0.66	-0.03	-0.97
EPS in Rs	—	-1.05	—	-2.04	—	-0.07	-2.38

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	0.13	1.56	2.44	1.55	4.76	14	10
Expenses	1.89	1.88	2.04	1.86	6.49	14	13
Operating Profit	-1.76	-0.32	0.40	-0.31	-1.73	0.14	-2.45
OPM %	-1,388.63	-20.54	16.37	-19.66	-36.43	1.01	-24.23
Other Income	0.30	0.04	0.01	0.40	0.09	0.43	0.13
Interest	0.00	0.00	0.00	0.01	0.02	0.01	0.02
Depreciation	0.01	0.01	0.00	0.00	0.02	0.09	0.08
Profit Before Tax	-1.47	-0.29	1.06	0.02	-1.69	0.47	-2.42
Tax %	22.91	9.07	0.97	-2,071.74	-3.73	-79.77	-2.89
Net Profit	-1.13	-0.26	1.05	0.50	-1.75	0.85	-2.49
EPS in Rs	—	—	—	—	-4.32	—	-5.54
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.22	0.22	0.22	2.97	4.07	4.07
Reserves	1.98	2.01	2.02	0.06	1.74	1.47
Borrowings	0.01	0.65	0.16	0.06	0.38	1.46
Other Liabilities	1.09	0.27	0.42	0.35	1.48	1.31
Total Liabilities	3.30	3.14	2.81	3.44	7.66	8.31
Fixed Assets	0.04	0.02	0.02	0.02	0.19	0.19
CWIP	0.00	0.00	0.00	0.01	0.00	0.00
Investments	0.10	0.09	0.15	0.01	1.68	1.21
Other Assets	3.17	3.02	2.64	3.40	5.80	6.91
Total Assets	3.30	3.14	2.81	3.44	7.66	8.31

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-1.40	-1.63	0.17	0.75	-2.77	-2.51
Cash from Investing Activity	-0.09	0.39	-0.05	0.13	-1.83	0.87
Cash from Financing Activity	2.77	0.63	-0.49	-0.10	5.04	1.08
Net Cash Flow	1.28	-0.61	-0.37	0.78	0.44	-0.56

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Apr 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025
Promoters	97.47%	71.24%	71.24%	71.53%	71.53%	72.56%	72.56%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	2.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	0.00%	28.76%	28.76%	28.47%	28.47%	27.44%	27.44%
Total Shareholders	9	250	218	244	268	240	237

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Sep 12, 2025	Kadayam ramanathan bharat	Bulk	Sell	122.45	0.51 Cr	42,000	1.03
Sep 12, 2025	Ramasamy goundar varadarajan	Bulk	Buy	122.45	0.26 Cr	21,000	0.51
Sep 03, 2025	Cosmos prime projects limited	Bulk	Buy	106.95	0.26 Cr	24,000	0.58
Feb 12, 2025	Znl startup accelerator llp	Insider - Promoter	Acquisition	59.09	0.25 Cr	42,000	1.03
Feb 03, 2025	Futurewale it consulting llp	Bulk	Buy	58.35	0.22 Cr	37,500	0.92
Jan 29, 2025	Futurewale it consulting llp	Bulk	Buy	59.43	0.20 Cr	33,000	0.81
Jun 21, 2024	Bhupesh dhirajlal doshi	Bulk	Sell	60.00	0.18 Cr	30,000	0.73
Sep 12, 2023	Utsav pramodkumar shrivastav	Bulk	Buy	115.85	0.14 Cr	12,000	0.29
Sep 12, 2023	Bp equities pvt. ltd.	Bulk	Buy	118.51	0.21 Cr	18,000	0.44
Sep 12, 2023	Multiplier share & stock advi...	Bulk	Sell	118.51	0.25 Cr	21,000	0.51

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Corporate Action

3 days ago

Convertible Share Warrants Allotment Approved

The Board of Directors of Sancode Technologies approved the allotment of 11,11,111 convertible warrants at an issue price of Rs. 54 each on a preferential basis.

Regulatory Filing

6 days ago

Disclosure of Late Financial Results

The company disclosed a delay in submitting its Half-Yearly Financial Results for the period ended September 30, 2025, citing a technical glitch and unavoidable circumstances.

Documents

Presentations

Concalls

Reports

Presentations

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Overall

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Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SATECH	51.20	67 Cr	9.01	1.69	0.00	5.81	7.41	2.71
SAGARSOFT	103.45	66 Cr	287.36	0.91	1.93	0.32	-0.90	-3.29
VEDAVAAG	28.07	66 Cr	9.39	0.43	1.76	4.63	7.04	3.72
CRANESSOFT	4.24	65 Cr	—	0.00	0.00	0.35	0.51	-245.52
VERTEXPLUS	117.00	64 Cr	73.13	2.67	0.00	2.46	5.54	1.77
SANCODE	157.40	64 Cr	130.08	11.57	0.00	20.07	17.57	20.50
RAMINFO	77.00	62 Cr	23.63	0.88	0.00	3.74	4.68	2.03

Overview

Detailed Summary

They operate in diverse areas such as cloud migration, AI, machine learning, RPA, and offer solutions for digital transformation and system integration.

Sancode caters to a wide range of industries, including manufacturing, FMCG, banking, retail, and real estate primarily in the USA.

The company has signed numerous business partnership agreements to rapidly accelerate technology adoption and innovation projects for corporations.

Sancode undertook a public equity issue in March 2023 to raise funds for expansion and has formed a joint venture under the name Sanfin Technologies Private Limited.

Sector

IT - Software

Industry

Computers - Software - Medium / Small

Market Cap

64 Cr

Volatility

Low Risk

P/E Ratio

130.1

Industry P/E

38.4

PEG Ratio

0.9

P/B Ratio

11.6

52W High

216.20

52W Low

31.60

Sales CAGR

190.13%

-32.06%

-1.08%

10Y

—

Profit CAGR

148.57%

-55.93%

—

10Y

—

ROE

TTM

20.07%

-1.95%

3.56%

10Y

—

ROCE

TTM

17.57%

-4.47%

1.65%

10Y

—