IT Enabled Services sector
41 companies · ₹2.0 L cr · 15 with AI deep dives
5y revenue CAGR
median 11.96%(p25 6.42% · p75 22%)
5y avg ROCE
median 15.35%(p25 5.33% · p75 24.04%)
Debt / equity
median 0.22x(p25 0.03x · p75 0.34x)
AI sector brief
from the bucket's latest earnings calls · as of 2026-06-30tailwindAI infrastructure demand emerges as a transformational sector tailwind4 managements
Multiple managements described AI-related work as a qualitatively new demand category. NETWEB reported AI Systems grew 459.6% YoY to 43.4% of FY26 revenue, with a ₹2,400 crore…
- NETWEB (Q4FY26): “The defining highlight of financial year '26 has been the performance of our AI segment…”
headwind4 managements🔒headwind3 managements🔒mixed5 managements🔒headwind4 managements🔒headwind4 managements🔒tailwind3 managements🔒
6 more themes from this quarter's earnings calls are locked. A free account opens the full brief: every theme with verbatim management quotes, the demand picture, companies running against the tide, and the regulatory & disruption watch. Sign up free →
| Company | Mcap | AI verdict | Signals | Stated KPIs (latest call) |
|---|---|---|---|---|
| L&T Technology Services Ltd | ₹38,185 cr | Unlock | roce compounderearnings quality strong | |
| Inventurus Knowledge Solutions Ltd | ₹31,141 cr | Unlock | roce compounderit cash machine | |
| Tata Technologies Ltd | ₹29,971 cr | Unlock | ||
| Netweb Technologies India Ltd | ₹25,101 cr | Unlock | roce compounderearnings quality weak | |
| Affle 3i Ltd | ₹22,980 cr | Unlock | earnings quality strongnet cash | |
| Black Box Ltd | ₹12,983 cr | Unlock | earnings quality weakdeleveragingit growth slowdown | |
| Cyient Ltd | ₹9,316 cr | Unlock | earnings quality strongnet cash | |
| Datamatics Global Services Ltd | ₹4,965 cr | Unlock | latent operating leverageearnings quality strongnet cash | |
| eMudhra Ltd | ₹3,801 cr | Unlock | latent operating leveragenet cash | |
| Cigniti Technologies Ltd | ₹3,485 cr | Unlock | roce compounder | |
| Network People Services Technologies Ltd | ₹3,223 cr | Unlock | capex coming onlineearnings quality weaknet cash | |
| R Systems International Ltd | ₹3,011 cr | Unlock | latent operating leverageearnings quality strong | |
| Zaggle Prepaid Ocean Services Ltd | ₹2,747 cr | Unlock | capex coming onlinenet cash | |
| Sasken Technologies Ltd | ₹2,646 cr | Unlock | latent operating leverage | |
| Aurum Proptech Ltd | ₹1,703 cr | Unlock | net cash | |
| IZMO Ltd | ₹1,642 cr | Unlock | net cash | |
| Dynacons Systems & Solutions Ltd | ₹1,527 cr | Unlock | latent operating leverageroce compounder | |
| Expleo Solutions Ltd | ₹1,254 cr | Unlock | roce compounder | |
| Orient Technologies Ltd | ₹1,234 cr | Unlock | earnings quality weak | |
| Genesys International Corporation Ltd | ₹1,208 cr | Unlock | capex coming online | |
| Kellton Tech Solutions Ltd | ₹751 cr | Unlock | capex coming onlineearnings quality weak | |
| Vakrangee Ltd | ₹663 cr | Unlock | net cash | |
| Onward Technologies Ltd | ₹662 cr | Unlock | earnings quality strong | |
| Allied Digital Services Ltd | ₹642 cr | Unlock | ||
| Tera Software Ltd | ₹482 cr | Unlock | ||
| DigiSpice Technologies Ltd | ₹421 cr | Unlock | latent operating leveragecapex coming onlinecapex ahead of revenueit growth slowdown | |
| Inspirisys Solutions Ltd | ₹406 cr | Unlock | deleveraging | |
| Sigma Solve Ltd | ₹384 cr | Unlock | roce compoundernet cashit cash machine | |
| FCS Software Solutions Ltd | ₹258 cr | Unlock | it cash machine | |
| Avio Smart Market Stack Limited | ₹214 cr | Unlock | earnings quality weak | |
| Intense Technologies Ltd | ₹209 cr | Unlock | latent operating leverageearnings quality strongnet cash | |
| Airan Ltd | ₹188 cr | Unlock | net cashit growth slowdown | |
| DCM Ltd | ₹171 cr | Unlock | it growth slowdown | |
| Dev Information Technology Ltd | ₹159 cr | Unlock | ||
| VL E-Governance & IT Solutions Ltd | ₹117 cr | Unlock | ||
| Handson Global Management (HGM) Ltd | ₹67 cr | Unlock | ||
| SecureKloud Technologies Ltd | ₹60 cr | Unlock | it cash machineit growth slowdown | |
| Palred Technologies Ltd | ₹57 cr | Unlock | levering upcapital destroyerit growth slowdown | |
| Adroit Infotech Ltd | ₹52 cr | Unlock | ||
| GSS Infotech Ltd | ₹31 cr | Unlock | latent operating leveragecapital destroyerit growth slowdown | |
| United Interactive Ltd | ₹12 cr | Unlock |