CSM Technologies Ltd(CSM)

NSE: CSMBSE: 544806

₹ 86.4+1.93%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 446 crWebsite: www.csm.techUpdated: 24 Oct 2026

About

CSM Technologies builds and runs e-governance software platforms for governments, with mining systems such as i3MS among its largest contributors, and works across Indian states and African countries. FY26 revenue was Rs 225.96 Cr. The company had more than 180 active projects and about 1,300 employees in FY26.^[1][2][3]

Business and verticals

Mining was one of the largest revenue contributors in FY26. Its government mining platforms run in Odisha, Jharkhand, Bihar, Chhattisgarh, Rajasthan and Kenya.^[1]
The company builds systems such as i3MS for state governments in Jharkhand and Odisha.^[1]

Key operating numbers

The order book stood at Rs. 357.63 crores as of 31 March 2026. Contracts run 3-5 years, which the company says gives visibility beyond 24 months.^[1]
The company had more than 180 active projects and a headcount of about 1,300 in FY26.^[1]

Customers and geographic reach

Export revenue was 9% of revenue in FY26.^[1]
Odisha remains a large source of revenue. Recent wins cover Chhattisgarh (Khanij 2.0), NAFED in Delhi, Rajasthan Mining Corporation, Adani in Assam, Kenya and Ethiopia (fish value chain).^[1]
The company entered two new countries, Malawi and Cabo Verde, in FY26.^[1]

Product development

In FY26 the company put Rs. 10 crores into intangible assets under development, aimed at adding an AI layer to its existing platforms. It also spent Rs. 3.17 crores on property and equipment, including AI licences and hardware.^[1]
Management stated it expected FY27 order bookings to exceed FY26 levels, driven by government digital infrastructure spending in India and Africa.^[1]

Group structure

Wholly owned subsidiaries include DWC-LLC, CSM Technologies INC, CSM Tech Limited, CSM Tech Corp and CSM Technologies Africa. All five had negative net worth in FY26; DWC-LLC's was Rs. -6.82 Cr.^[3]
The subsidiary Kwantify Solutions (KSPL) had FY26 turnover of Rs. 1917.91 lakhs and a net worth of Rs. 466.33 lakhs.^[3]
Proposed related-party transaction limits for FY27 are up to Rs. 53 Crores with the wholly owned subsidiaries and up to Rs. 25 Crores with KSPL.^[3]

Recent developments

On 09 Oct 2026, the subsidiary CSM Tech Limited won a US$174,000 mandate (about ₹1.65 crore) from TradeMark Africa for the Beira Corridor Transport and Trade Observatory project.^[4]
For FY26, a final dividend of Rs. 0.50 per share was proposed, in addition to an interim dividend of Rs. 0.60 per share already paid.^[3]

Market Cap

₹446 Cr

High / Low

₹115 / 77

Stock P/E

14.2

Price / Book

3.3

EPS

₹6.1

ROCE

24.0%

ROE

23.0%

OPM

18.3%

Debt / Equity

0.69

Sales

₹226 Cr

Net Profit

₹24 Cr

Promoter holding

71.2%

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