IT - Education · Founded 2000 · www.excelsoftcorp.com · BSE 544617 · NSE EXCELSOFT · ISIN INE606N01019
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Business
Excelsoft Technologies Ltd. is an Indian IT company specializing in education technology (EdTech). It provides end-to-end digital learning solutions to educational institutions (universities, colleges, schools), government bodies, and corporate clients globally. Its core business involves developing and implementing proprietary software platforms, digital content, and services that facilitate online learning, assessment, and training. The company makes money primarily through licensing its software platforms (like Learning Management Systems and Assessment Management Systems), providing custom content development services, and offering implementation, support, and maintenance services for its solutions.
Revenue Mix
Excelsoft's revenue streams typically stem from its comprehensive suite of EdTech offerings, which can be broadly categorized as:
Proprietary Platform Solutions: Licensing and subscription fees for its Learning Management Systems (LMS), Assessment Management Systems (AMS), and other educational technology platforms.
Content Development & Services: Developing custom digital learning content, e-learning courses, and offering consultation, integration, and maintenance services for its clients.
While specific revenue breakdowns are not readily public, the company's focus indicates a mix of recurring revenue from platform subscriptions/licenses and project-based revenue from content and implementation services.
Industry
Excelsoft operates in the global IT-Education (EdTech) sector, which is characterized by rapid technological advancements, increasing demand for digital learning, and intense competition. The industry includes a wide range of players from large multinational enterprise software vendors to niche EdTech startups. Excelsoft positions itself as an experienced, comprehensive solutions provider, particularly strong in serving institutional clients (B2B) rather than direct-to-consumer. In India, it is one of the long-standing players providing end-to-end solutions, competing with both global EdTech giants and numerous domestic start-ups that may focus on specific niches like K-12, higher education, or skill development. Its strength lies in its integrated offerings and deep understanding of the institutional education ecosystem.
MOAT
Excelsoft's competitive advantages are primarily derived from:
Domain Expertise & Experience: Decades of experience in the EdTech space, providing deep insights into institutional requirements and educational pedagogies.
Comprehensive Integrated Platforms: Offering a full suite of interconnected solutions (LMS, AMS, content tools) that can create high switching costs for institutions once deeply integrated into their operations.
Established Client Base: A track record with educational institutions and government bodies, providing a stable foundation and references for new business.
Customization Capabilities: Ability to tailor solutions to specific client needs, which is crucial for large institutions and government projects.
Growth Drivers
Digital Transformation in Education: Continued global shift towards blended and online learning models, accelerated by recent global events, driving demand for robust EdTech platforms.
Government Initiatives: Policy thrusts like India's National Education Policy (NEP) 2020 emphasizing digital education and skill development create significant opportunities for EdTech providers.
Corporate Upskilling & Reskilling: Growing demand from corporations for digital learning solutions to train and upskill their workforce.
International Expansion: Opportunities in emerging and developed markets where institutions are increasingly adopting digital learning tools.
Personalized Learning & Analytics: Demand for advanced analytics and AI-driven personalization in education could drive upgrades and new service offerings.
Risks
Intense Competition: Highly fragmented and competitive EdTech market with numerous global and local players, including well-funded startups and large technology companies.
Rapid Technological Change: The need for continuous R&D and platform upgrades to keep pace with evolving technologies (AI, VR, advanced analytics) and user expectations.
Client Budget Constraints: Education sector budgets, especially for government and public institutions, can be subject to economic cycles and policy changes.
Data Security & Privacy: Handling sensitive educational data necessitates stringent security measures and compliance with evolving data privacy regulations, posing operational and reputational risks.
Execution Risk: Successfully implementing complex EdTech solutions in large institutions requires skilled project management and can face delays or integration challenges.
Management & Ownership
Excelsoft Technologies Ltd. is a promoter-driven company. Dr. D.A. Prasanna is the founder and has been instrumental in leading the company. As a publicly listed entity, it adheres to corporate governance norms. Ownership typically includes a significant promoter holding, with the remainder held by institutional investors, high-net-worth individuals, and the public. The management team likely comprises individuals with deep experience in education technology and enterprise software services.
Outlook
Excelsoft Technologies Ltd. is well-positioned in a growing EdTech market, driven by the irreversible trend towards digital learning and skill development globally. Its long-standing experience and comprehensive solution portfolio for institutional clients provide a stable base. The company benefits from both domestic policy tailwinds and international demand for robust e-learning infrastructure. However, the market is highly competitive, requiring continuous innovation and significant investment in R&D to maintain relevance against agile startups and large tech players. The ability to effectively scale its platform solutions, secure new large institutional clients, and adapt to evolving technological paradigms will be critical for sustained growth while navigating the inherent risks of a fast-changing industry.
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| #(Fig in Cr.) | Sep 2024 | Dec 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Net Sales | 54 | 55 | 70 | 65 | 71 | 81 |
| Other Income | 4 | 4 | 5 | 4 | 5 | 6 |
| Total Income | 57 | 59 | 75 | 69 | 76 | 87 |
| Total Expenditure | 40 | 37 | 42 | 47 | 51 | 57 |
| Operating Profit | 17 | 22 | 34 | 22 | 24 | 30 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 6 | 6 | 6 | 6 | 6 | 6 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | -4 | -1 |
| Profit Before Tax | 11 | 15 | 27 | 14 | 13 | 23 |
| Provision for Tax | 2 | 5 | 7 | 4 | 3 | 6 |
| Profit After Tax | 9 | 10 | 20 | 11 | 10 | 17 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 9 | 10 | 20 | 11 | 10 | 17 |
| Adjusted Earnings Per Share | 0.9 | 1 | 2 | 1.1 | 0.9 | 1.4 |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|
| Net Sales | 158 | 195 | 198 | 233 | 287 |
| Other Income | 2 | 3 | 2 | 16 | 20 |
| Total Income | 160 | 198 | 201 | 249 | 307 |
| Total Expenditure | 91 | 127 | 143 | 160 | 197 |
| Operating Profit | 69 | 71 | 57 | 89 | 110 |
| Interest | 14 | 14 | 10 | 5 | 4 |
| Depreciation | 25 | 27 | 29 | 25 | 24 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | -5 |
| Profit Before Tax | 29 | 30 | 18 | 60 | 77 |
| Provision for Tax | 10 | 8 | 6 | 25 | 20 |
| Profit After Tax | 19 | 22 | 13 | 35 | 58 |
| Adjustments | -0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 19 | 22 | 13 | 35 | 58 |
| Adjusted Earnings Per Share | 2 | 2.3 | 1.3 | 3.5 | 5.4 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 18% | 14% | 0% | 0% |
| Operating Profit CAGR | 56% | 9% | 0% | 0% |
| PAT CAGR | 169% | 23% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | NA% | NA% | NA% | NA% |
| ROE Average | 10% | 8% | 8% | 8% |
| ROCE Average | 17% | 12% | 12% | 12% |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Shareholder's Funds | 255 | 278 | 297 | 371 |
| Minority's Interest | 0 | 0 | 0 | 0 |
| Borrowings | 69 | 64 | 49 | 0 |
| Other Non-Current Liabilities | 16 | 16 | 17 | 31 |
| Total Current Liabilities | 83 | 78 | 58 | 69 |
| Total Liabilities | 423 | 436 | 421 | 470 |
| Fixed Assets | 339 | 349 | 336 | 135 |
| Other Non-Current Assets | 26 | 15 | 16 | 4 |
| Total Current Assets | 59 | 73 | 69 | 332 |
| Total Assets | 423 | 436 | 421 | 470 |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 3 | 17 | 5 |
| Cash Flow from Operating Activities | 61 | 56 | 56 | 53 |
| Cash Flow from Investing Activities | -24 | -15 | -16 | 7 |
| Cash Flow from Financing Activities | -35 | -27 | -52 | -56 |
| Net Cash Inflow / Outflow | 1 | 14 | -12 | 4 |
| Closing Cash & Cash Equivalent | 3 | 17 | 5 | 8 |
| # | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Earnings Per Share (Rs) | 1.97 | 2.31 | 1.31 | 3.47 |
| CEPS(Rs) | 4.55 | 5.12 | 4.29 | 5.93 |
| DPS(Rs) | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 26.2 | 28.57 | 29.8 | 37.1 |
| Core EBITDA Margin(%) | 42.21 | 34.95 | 27.72 | 31.4 |
| EBIT Margin(%) | 27.68 | 22.39 | 14.31 | 27.48 |
| Pre Tax Margin(%) | 18.51 | 15.47 | 9.24 | 25.52 |
| PAT Margin (%) | 12.11 | 11.49 | 6.43 | 14.87 |
| Cash Profit Margin (%) | 28 | 25.51 | 21.05 | 25.44 |
| ROA(%) | 4.52 | 5.22 | 2.98 | 7.78 |
| ROE(%) | 7.5 | 8.42 | 4.49 | 10.49 |
| ROCE(%) | 11.32 | 11.17 | 7.37 | 16.61 |
| Receivable days | 93.69 | 80.61 | 85.07 | 76.58 |
| Inventory Days | 0 | 0 | 0 | 0 |
| Payable days | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.77 | 0.53 | 0.37 | -0.54 |
| EV/Core EBITDA(x) | 1.77 | 1.45 | 1.28 | -1.42 |
| Net Sales Growth(%) | 0 | 23.6 | 1.64 | 17.65 |
| EBIT Growth(%) | 0 | 0.01 | -35.04 | 125.92 |
| PAT Growth(%) | 0 | 17.26 | -43.1 | 172.02 |
| EPS Growth(%) | 0 | 17.28 | -43.18 | 164.62 |
| Debt/Equity(x) | 0.51 | 0.43 | 0.26 | 0.07 |
| Current Ratio(x) | 0.71 | 0.93 | 1.19 | 4.84 |
| Quick Ratio(x) | 0.71 | 0.93 | 1.19 | 4.84 |
| Interest Cover(x) | 3.02 | 3.23 | 2.82 | 14.03 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 |
| # | Sep 2025 | Nov 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 59.09 | 59.09 | 59.09 | 59.09 |
| FII | 3.91 | 3.91 | 2.18 | 1.37 |
| DII | 7.42 | 7.42 | 3.68 | 4.05 |
| Public | 29.58 | 29.58 | 35.05 | 35.49 |
| Others | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 |
| # | Sep 2025 | Nov 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 6.8 | 6.8 | 6.8 | 6.8 |
| FII | 0.45 | 0.45 | 0.25 | 0.16 |
| DII | 0.85 | 0.85 | 0.42 | 0.47 |
| Public | 3.4 | 3.4 | 4.03 | 4.08 |
| Others | 0 | 0 | 0 | 0 |
| Total | 11.51 | 11.51 | 11.51 | 11.51 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +18% | +14% | — | — |
| Operating Profit CAGR | +56% | +9% | — | — |
| PAT CAGR | +169% | +23% | — | — |
| Share Price CAGR | — | — | — | — |
| ROE Average | +10% | +8% | +8% | +8% |
| ROCE Average | +17% | +12% | +12% | +12% |
| # | Sep 2025 | Nov 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 59.09 | 59.09 | 59.09 | 59.09 |
| FII | 3.91 | 3.91 | 2.18 | 1.37 |
| DII | 7.42 | 7.42 | 3.68 | 4.05 |
| Public | 40.91 | 40.91 | 40.91 | 40.91 |
| Others | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 |
| # | Sep 2025 | Nov 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 6.8 | 6.8 | 6.8 | 6.8 |
| FII | 0.45 | 0.45 | 0.25 | 0.16 |
| DII | 0.85 | 0.85 | 0.42 | 0.47 |
| Public | 4.71 | 4.71 | 4.71 | 4.71 |
| Others | 0 | 0 | 0 | 0 |
| Total | 11.51 | 11.51 | 11.51 | 11.51 |
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