Sasken Technologies Ltd(SASKEN)

NSE: SASKENBSE: 532663

₹ 1,798.9+4.65%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 2,733 crNext results: 28 Oct 2026Website: www.sasken.comUpdated: 24 Oct 2026

About

Sasken Technologies is an Indian engineering R&D services company operating across semiconductors, automotive, communications networks and devices, digital services, and industrials. It added a Product Solutions (ODM) segment in April 2025 through the acquisition of Borqs International, becoming an end-to-end embedded engineering and device ODM player.^[1][2][3]

Business segments

Software Services contributed 69.4% of FY26 revenue (₹772.46 Cr) at an EBIT margin of 27.2%, covering embedded engineering across semiconductors, automotive, connectivity, and digital services verticals.^[4]
Product Solutions contributed 30.6% of FY26 revenue (₹340.7 Cr) at an EBIT margin of 8.1%, comprising ODM hardware and device engineering following the Borqs acquisition effective April 2025.^[4][5]
In Q1 FY27, Software Services grew 24.3% YoY and 4.8% QoQ to ₹219 Cr; Product Solutions grew 23.6% YoY but moderated 3.9% QoQ to ₹120 Cr following a strong Q4.^[2]

Service portfolio and verticals

Sasken operates across five verticals: semiconductors, automotive, digital services, communications networks and devices, and industrials.^[3]
Automotive offerings include digital cockpit solutions, ADAS integrations, telematics systems, connected mobility platforms, and a Virtual Cockpit Platform deployable on ARM hardware and AWS Graviton for SDV-ready frameworks.^[3]
Industrial offerings span enterprise and ruggedized devices, machine intelligence and telemetry, and cloud-based industrial platform enablement; cybersecurity practice covers VAPT and secure-by-design frameworks aligned to IEC 62443 and CRA.^[3]
GenAI-powered accelerators were launched for QA automation, software development, and digital twin enablement; agentic AI and LLM validation services are in active production engagements.^[3][2]

Key operating numbers

Q1 FY27 TCV of orders booked: US$47M total, of which US$34M from new wins; ACV was US$40M including US$24M from new wins.^[2]
Utilisation was 85% in Q1 FY27, up from 83.0% in Q3 FY26 and 79.2% in Q1 FY26.^[2][6][5]
LTM voluntary attrition was 9.8% in Q1 FY27 (9.4% annualised in Q3 FY26; 7.3% LTM in Q1 FY26).^[2][6][5]
Software Services gross margin expanded 240 bps to 30.6% in Q1 FY27; Product Solutions gross margin fell 310 bps QoQ to 5.9% due to memory availability headwinds and mix shift.^[2]
Q3 FY26 TCV of US$57.1M was a record, more than doubling QoQ from US$28.5M in Q2 FY26, up 73% YoY.^[6]

Headcount and workforce

Consolidated headcount was 2,658 in Q1 FY27, up from 2,343 in Q3 FY26 and 2,196 in Q1 FY26.^[2][6][5]
Women represent 27% of Sasken's workforce as of FY25.^[3]

Customers and concentration

Active customers were 93 in Q1 FY27, up from 79 in Q1 FY26; five new logos were added in the quarter.^[2]
Top-5 customer revenue concentration was approximately 56% in Q1 FY27, broadly stable QoQ.^[2]
Clients contributing over US$4M annually rose to 6 in Q3 FY26, up from 3 in Q3 FY25 and just 1 in Q2 FY25, tracking the 60×4×3 strategy.^[6][7]
Automotive customers include global OEMs, Tier-1 suppliers, silicon vendors, ISVs, and middleware providers across the U.S., Europe, Japan, and India.^[3]

Geographic mix

In Q2 FY26, North America contributed 33.5%, EMEA 21.9%, India 29.1%, and APAC 15.5% of revenue; EMEA declined sharply from 38.3% in Q1 FY26, while India and APAC rose.^[7]

Growth strategy

60×4×3 strategy targets 60 marquee accounts each contributing at least US$4M annually; management now expects achievement may take one additional year beyond the original three-year window, extending target to approximately FY29.^[2]
China+1 and Make-in-India tailwinds are driving demand for Sasken's ODM capabilities, particularly in automotive modules, from European and US customers seeking product design outside China.^[2]
Management flagged capability-gap M&A as a possible growth lever; inorganic acquisitions may be pursued using internal accruals and external funds.^[2]

Recent developments

Two hyperscaler engagements disclosed in Q1 FY27: a multi-year capability engagement with one global hyperscaler, and an AI/automation services engagement (agentic AI, LLM validation, intelligent testing) with a second global technology company.^[2]
Sasken Silicon Incubation Center inaugurated in Hubballi and a new centre of excellence opened in Hyderabad for engineering talent expansion, both in or before Q1 FY27.^[2]
Sasken made a critical contribution to the launch of the world's first fully autonomous Robotaxi in the USA, as disclosed in the FY25 annual report.^[3]
A Microsoft MDEP partnership was formed in Q1 FY26 to provide product development and engineering services on the Microsoft Devices Ecosystem Platform for collaboration devices.^[5]
In Q2 FY26, a new Shin-Yokohama office was opened in Japan to support local and APAC delivery.^[7]

Market Cap

₹2,733 Cr

High / Low

₹2,785 / 993

Stock P/E

39.4

Price / Book

3.2

Book Value

₹563

EPS

₹35.5

No. of Shares

1.52 Cr

ROCE

10.2%

ROE

6.6%

OPM

7.6%

Debt / Equity

0.00

Sales

₹1,113 Cr

Net Profit

₹59 Cr

Promoter holding

42.9%

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Sasken Technologies Ltd(SASKEN)

About

Business segments

Service portfolio and verticals

Key operating numbers

Headcount and workforce

Customers and concentration

Geographic mix

Growth strategy

Recent developments

Signal history

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