Business Support · Founded 2006 · www.latentview.com · BSE 543398 · NSE LATENTVIEW · ISIN INE0I7C01011
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Business
Latent View Analytics Ltd. is a global pure-play data analytics and AI company that helps enterprises make data-driven decisions. The company provides a range of services including data engineering, data analytics, business intelligence, advanced predictive analytics, machine learning, and artificial intelligence solutions. They help clients transform raw data into actionable insights to improve business outcomes across areas like customer experience, supply chain optimization, risk management, and operational efficiency. Their core business model involves project-based consulting and ongoing managed services, leveraging their expertise in various analytical tools and technologies to solve complex business problems for their clients.
Revenue Mix
Latent View typically reports revenue primarily by geography and industry vertical rather than distinct service line segments with specific contributions.
Geographic Mix: North America is the primary revenue generator, followed by Europe.
Industry Verticals: Key verticals served include Financial Services, Technology, Retail & CPG, Industrials, and other sectors.
Exact percentage contributions are not consistently broken down into distinct segments for public reporting, but their focus remains on providing end-to-end data analytics and digital transformation consulting across these regions and industries.
Industry
Latent View operates in the highly competitive global data analytics and AI consulting market. This industry is characterized by strong demand driven by digital transformation, but also by a fragmented landscape with diverse players. Latent View positions itself as a specialized pure-play analytics provider, differentiating itself from larger, more diversified IT services companies by its deep focus on data science and AI. Its peers include other specialized analytics firms as well as the analytics divisions of larger IT services and consulting companies. The company aims to compete on specialized expertise, delivery quality, and strong client relationships rather than solely on scale or price.
MOAT
Latent View's competitive advantages are primarily derived from:
Specialized Expertise: A strong focus and deep capabilities in advanced analytics, machine learning, and AI, allowing them to tackle complex data challenges.
Client Relationships: Building long-term relationships with marquee clients by delivering impactful solutions, leading to repeat business and referrals.
Talent Pool: Ability to attract and retain specialized data scientists, engineers, and consultants, which is crucial in a talent-scarce industry.
Switching Costs: For deeply integrated analytical solutions, switching providers can be complex and costly for clients, creating a degree of stickiness.
However, as a consulting firm, these moats are softer compared to product-based businesses and are constantly challenged by new entrants and evolving technologies.
Growth Drivers
Increasing Data Proliferation & Analytics Adoption: Enterprises are increasingly relying on data-driven insights for decision-making across all functions.
AI & Machine Learning Integration: Growing demand for integrating AI and ML into business processes to enhance automation, prediction, and personalization.
Digital Transformation Initiatives: Companies' ongoing efforts to digitalize operations and enhance customer experiences drive demand for analytics services.
Geographic and Vertical Expansion: Opportunities to expand client base in existing and new geographies (e.g., Europe, APAC) and penetrate underserved industry verticals.
Cross-selling and Upselling: Expanding existing client engagements by offering a broader range of analytics services and solutions.
Risks
Client Concentration: Reliance on a few large clients for a significant portion of revenue could pose a risk if a major client scales back or terminates contracts.
Talent Attrition & Acquisition: High demand for skilled data scientists and engineers can lead to intense competition for talent, resulting in increased wage costs or difficulty in staffing projects.
Technological Obsolescence: Rapid advancements in data analytics tools and technologies necessitate continuous investment in skill development and adapting service offerings.
Economic Slowdown: As services are often discretionary, a global economic downturn could lead to reduced IT spending and project deferrals by clients.
Intense Competition: Facing competition from large IT service providers, niche analytics firms, and in-house client capabilities.
Foreign Exchange Fluctuations: A significant portion of revenue comes from international clients, exposing the company to currency volatility.
Management & Ownership
Latent View was founded by Venu Goel and Pramad Jandhyala. Venu Goel serves as the Chairman and Chief Evangelist, while Pramad Jandhyala is the Co-Founder and Chief Client Officer. The company has a professional management team with experience in the analytics and technology consulting domain. Promoter and promoter group hold a significant stake in the company, demonstrating alignment with long-term growth. Institutional investors also hold notable stakes, reflecting market confidence in the company's prospects.
Outlook
Latent View benefits from strong secular tailwinds in data analytics, AI, and digital transformation, indicating a robust demand environment for its specialized services. Its pure-play analytics focus allows for deep expertise and a differentiated market position. The company's ability to attract and retain high-caliber talent, coupled with expanding client relationships, provides a foundation for continued growth. However, the business operates in a highly competitive landscape, requiring continuous innovation and efficient delivery to maintain market share. Risks associated with client concentration and talent management are pertinent. The company's future performance will depend on its execution efficiency, ability to scale operations effectively, and adeptness in navigating the evolving technological and economic environment while managing its talent pool and client relationships.
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| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 166 | 172 | 179 | 209 | 228 | 232 | 236 | 258 | 278 | 289 |
| Other Income | 23 | 16 | 17 | 23 | 15 | 21 | 23 | 19 | 18 | 16 |
| Total Income | 189 | 187 | 196 | 232 | 243 | 253 | 259 | 276 | 296 | 305 |
| Total Expenditure | 129 | 131 | 141 | 164 | 178 | 177 | 186 | 201 | 216 | 221 |
| Operating Profit | 60 | 56 | 56 | 68 | 65 | 76 | 74 | 75 | 80 | 84 |
| Interest | 1 | 1 | 1 | 1 | 0 | 5 | 2 | 3 | 2 | 3 |
| Depreciation | 2 | 2 | 3 | 9 | 8 | 9 | 10 | 10 | 10 | 10 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 57 | 53 | 52 | 58 | 56 | 62 | 62 | 62 | 67 | 71 |
| Provision for Tax | 10 | 8 | 13 | 18 | 13 | 11 | 11 | 16 | 16 | 16 |
| Profit After Tax | 47 | 45 | 39 | 41 | 43 | 51 | 51 | 46 | 51 | 55 |
| Adjustments | 0 | 0 | 0 | -1 | -1 | 2 | 0 | -1 | -1 | -2 |
| Profit After Adjustments | 47 | 45 | 39 | 40 | 42 | 53 | 51 | 44 | 50 | 53 |
| Adjusted Earnings Per Share | 2.3 | 2.2 | 1.9 | 1.9 | 2 | 2.6 | 2.5 | 2.1 | 2.4 | 2.5 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 118 | 174 | 238 | 235 | 289 | 310 | 306 | 408 | 539 | 641 | 848 | 1061 |
| Other Income | 1 | 1 | 1 | 5 | 11 | 19 | 21 | 21 | 56 | 74 | 69 | 76 |
| Total Income | 119 | 176 | 239 | 240 | 300 | 330 | 327 | 429 | 595 | 714 | 917 | 1136 |
| Total Expenditure | 100 | 140 | 173 | 160 | 222 | 230 | 201 | 286 | 394 | 504 | 652 | 824 |
| Operating Profit | 20 | 35 | 66 | 80 | 78 | 100 | 125 | 143 | 201 | 210 | 265 | 313 |
| Interest | 1 | 1 | 1 | 1 | 0 | 3 | 3 | 3 | 3 | 3 | 7 | 10 |
| Depreciation | 2 | 3 | 3 | 3 | 3 | 7 | 7 | 8 | 9 | 10 | 29 | 40 |
| Exceptional Income / Expenses | -3 | 0 | 0 | 0 | 0 | 0 | 0 | 23 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 14 | 31 | 63 | 76 | 75 | 90 | 116 | 154 | 189 | 197 | 229 | 262 |
| Provision for Tax | -1 | 6 | 5 | 10 | 12 | 17 | 24 | 25 | 34 | 38 | 55 | 59 |
| Profit After Tax | 15 | 25 | 57 | 67 | 63 | 73 | 91 | 130 | 155 | 159 | 173 | 203 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -4 |
| Profit After Adjustments | 15 | 25 | 57 | 67 | 63 | 73 | 91 | 130 | 155 | 159 | 174 | 198 |
| Adjusted Earnings Per Share | 0.9 | 1.5 | 3.4 | 3.9 | 3.7 | 4.3 | 5.4 | 6.5 | 7.6 | 7.7 | 8.4 | 9.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 32% | 28% | 22% | 22% |
| Operating Profit CAGR | 26% | 23% | 22% | 29% |
| PAT CAGR | 9% | 10% | 19% | 28% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -28% | -4% | NA% | NA% |
| ROE Average | 12% | 13% | 16% | 27% |
| ROCE Average | 16% | 16% | 20% | 30% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 49 | 75 | 133 | 202 | 268 | 348 | 438 | 1026 | 1207 | 1374 | 1500 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 37 |
| Borrowings | 3 | 3 | 1 | 0 | 0 | 0 | 23 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 5 | 10 | -3 | 2 | 1 | -2 | -3 | -3 | 2 | 17 | 119 |
| Total Current Liabilities | 20 | 30 | 43 | 16 | 19 | 20 | 32 | 50 | 34 | 53 | 133 |
| Total Liabilities | 77 | 118 | 174 | 220 | 288 | 366 | 489 | 1074 | 1244 | 1445 | 1789 |
| Fixed Assets | 8 | 9 | 7 | 6 | 4 | 35 | 30 | 29 | 23 | 28 | 401 |
| Other Non-Current Assets | 14 | 13 | 20 | 28 | 33 | 27 | 94 | 143 | 278 | 355 | 507 |
| Total Current Assets | 55 | 95 | 147 | 186 | 251 | 303 | 365 | 902 | 942 | 1063 | 881 |
| Total Assets | 77 | 118 | 174 | 220 | 288 | 366 | 489 | 1074 | 1244 | 1445 | 1789 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 13 | 16 | 25 | 28 | 35 | 47 | 75 | 135 | 237 | 53 | 165 |
| Cash Flow from Operating Activities | -9 | 22 | 70 | 23 | 59 | 63 | 90 | 87 | 97 | 115 | 130 |
| Cash Flow from Investing Activities | -0 | -12 | -51 | -15 | -47 | -34 | -45 | -439 | -285 | -4 | -242 |
| Cash Flow from Financing Activities | 11 | -2 | -14 | -2 | -1 | -5 | 17 | 449 | -4 | -1 | -5 |
| Net Cash Inflow / Outflow | 2 | 9 | 4 | 6 | 11 | 24 | 62 | 97 | -192 | 111 | -116 |
| Closing Cash & Cash Equivalent | 16 | 25 | 28 | 35 | 47 | 75 | 135 | 237 | 53 | 165 | 69 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.87 | 1.49 | 3.41 | 3.93 | 3.71 | 4.28 | 5.35 | 6.46 | 7.59 | 7.7 | 8.44 |
| CEPS(Rs) | 0.98 | 1.64 | 3.58 | 4.09 | 3.87 | 4.67 | 5.75 | 6.87 | 8.02 | 8.17 | 9.82 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 2.93 | 4.48 | 7.81 | 11.81 | 15.64 | 20.3 | 25.51 | 51.06 | 58.69 | 66.43 | 72.4 |
| Core EBITDA Margin(%) | 16.03 | 19.41 | 27.49 | 31.75 | 23.3 | 25.91 | 34.19 | 29.83 | 26.94 | 21.27 | 23.14 |
| EBIT Margin(%) | 12.85 | 18.74 | 26.66 | 32.86 | 26.06 | 29.99 | 38.75 | 38.49 | 35.66 | 31.27 | 27.82 |
| Pre Tax Margin(%) | 11.73 | 17.98 | 26.26 | 32.52 | 26.01 | 29.06 | 37.9 | 37.69 | 35.15 | 30.75 | 26.98 |
| PAT Margin (%) | 12.4 | 14.33 | 24.03 | 28.34 | 21.77 | 23.47 | 29.9 | 31.67 | 28.85 | 24.76 | 20.46 |
| Cash Profit Margin (%) | 13.93 | 15.85 | 25.25 | 29.49 | 22.73 | 25.62 | 32.15 | 33.66 | 30.49 | 26.27 | 23.92 |
| ROA(%) | 22.44 | 25.66 | 39.26 | 33.83 | 24.77 | 22.27 | 21.38 | 16.57 | 13.41 | 11.8 | 10.73 |
| ROE(%) | 35.08 | 40.12 | 55.45 | 40.19 | 27.02 | 23.84 | 23.4 | 17.75 | 13.97 | 12.34 | 12.12 |
| ROCE(%) | 26.62 | 41.01 | 55.25 | 45.39 | 31.97 | 30.24 | 29.33 | 21.17 | 17.19 | 15.51 | 16.41 |
| Receivable days | 56.22 | 69.36 | 62.91 | 70.65 | 64.37 | 60.8 | 67.84 | 64.53 | 61.73 | 60.29 | 64.13 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 65.39 | 42.4 | 65.95 | 43.53 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.28 | 5.48 | 7.65 | 5.07 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | -0.03 | -0.09 | -0.13 | -0.19 | -0.33 | -0.48 | -0.65 | 19.07 | 11.23 | 15.68 | 8.83 |
| EV/Core EBITDA(x) | -0.17 | -0.42 | -0.48 | -0.54 | -1.24 | -1.5 | -1.58 | 54.4 | 30.11 | 47.84 | 28.22 |
| Net Sales Growth(%) | 51.57 | 46.93 | 36.82 | -1.31 | 22.89 | 7.43 | -1.44 | 33.33 | 32.11 | 18.92 | 32.33 |
| EBIT Growth(%) | -39.5 | 114.39 | 94.6 | 21.64 | -2.54 | 23.63 | 27.34 | 32.81 | 22.04 | 4.28 | 17.73 |
| PAT Growth(%) | -14.51 | 69.87 | 129.43 | 16.37 | -5.57 | 15.8 | 25.56 | 41.6 | 20.01 | 2.07 | 9.36 |
| EPS Growth(%) | -26.72 | 69.87 | 129.43 | 15.26 | -5.6 | 15.37 | 25.1 | 20.77 | 17.39 | 1.57 | 9.49 |
| Debt/Equity(x) | 0.35 | 0.23 | 0.03 | 0 | 0 | 0 | 0.05 | 0 | 0 | 0 | 0 |
| Current Ratio(x) | 2.77 | 3.15 | 3.46 | 11.93 | 12.87 | 14.93 | 11.35 | 18.08 | 27.75 | 20.04 | 6.64 |
| Quick Ratio(x) | 2.77 | 3.15 | 3.46 | 11.93 | 12.87 | 14.93 | 11.35 | 18.08 | 27.75 | 20.04 | 6.64 |
| Interest Cover(x) | 11.51 | 24.6 | 66.92 | 95.64 | 516.76 | 32.18 | 45.45 | 48.41 | 69.86 | 60.6 | 33.13 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 65.42 | 65.42 | 65.39 | 65.39 | 65.24 | 65.24 | 65.2 | 65.2 | 65.1 | 65.1 |
| FII | 2.54 | 2.39 | 2.41 | 2.66 | 2.87 | 3.02 | 2.11 | 2.17 | 3.72 | 3.15 |
| DII | 2.44 | 4.46 | 4.42 | 3.65 | 3.66 | 3.27 | 3.25 | 3.39 | 4.2 | 4.12 |
| Public | 29.59 | 27.72 | 27.78 | 28.3 | 28.23 | 28.47 | 29.44 | 29.24 | 26.98 | 27.62 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 |
| FII | 0.52 | 0.49 | 0.5 | 0.55 | 0.59 | 0.62 | 0.44 | 0.45 | 0.77 | 0.65 |
| DII | 0.5 | 0.92 | 0.91 | 0.75 | 0.76 | 0.68 | 0.67 | 0.7 | 0.87 | 0.85 |
| Public | 6.09 | 5.71 | 5.72 | 5.83 | 5.83 | 5.88 | 6.08 | 6.04 | 5.58 | 5.72 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 20.59 | 20.59 | 20.6 | 20.6 | 20.65 | 20.65 | 20.66 | 20.66 | 20.69 | 20.69 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +32% | +28% | +22% | +22% |
| Operating Profit CAGR | +26% | +23% | +22% | +29% |
| PAT CAGR | +9% | +10% | +19% | +28% |
| Share Price CAGR | -28% | -4% | — | — |
| ROE Average | +12% | +13% | +16% | +27% |
| ROCE Average | +16% | +16% | +20% | +30% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 65.42 | 65.42 | 65.39 | 65.39 | 65.24 | 65.24 | 65.2 | 65.2 | 65.1 | 65.1 |
| FII | 2.54 | 2.39 | 2.41 | 2.66 | 2.87 | 3.02 | 2.11 | 2.17 | 3.72 | 3.15 |
| DII | 2.44 | 4.46 | 4.42 | 3.65 | 3.66 | 3.27 | 3.25 | 3.39 | 4.2 | 4.12 |
| Public | 34.58 | 34.58 | 34.61 | 34.61 | 34.76 | 34.76 | 34.8 | 34.8 | 34.9 | 34.9 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 |
| FII | 0.52 | 0.49 | 0.5 | 0.55 | 0.59 | 0.62 | 0.44 | 0.45 | 0.77 | 0.65 |
| DII | 0.5 | 0.92 | 0.91 | 0.75 | 0.76 | 0.68 | 0.67 | 0.7 | 0.87 | 0.85 |
| Public | 7.12 | 7.12 | 7.13 | 7.13 | 7.18 | 7.18 | 7.19 | 7.19 | 7.22 | 7.22 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 20.59 | 20.59 | 20.6 | 20.6 | 20.65 | 20.65 | 20.66 | 20.66 | 20.69 | 20.69 |
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