63SATS Cybertech Limited - Unlisted Shares
Fundamentals
- Current Price
- ₹26
- Market Cap
- ₹2,629.25 Cr
- ISIN
- INE1JOJ01011
- Face Value
- ₹1
- EPS
- ₹-0.26
- P/B Ratio
- 8.84
- Book Value
- ₹2.94
- Debt / Equity Ratio
- 0.01
Key Financials
Profit & Loss
| Metric | FY2026 | FY2025 |
|---|---|---|
| Revenue from Operations | 87.16 | 2.40 |
| Growth % | 3536.72% | - |
| Operating Expenses | 99.03 | 18.19 |
| Growth % | 444.50% | - |
| Operating Profit | -11.87 | -15.79 |
| Op. Profit Margin % | -13.61% | -658.82% |
| Other Income | 7.99 | 0.62 |
| Finance Cost | 1.74 | 0.74 |
| Depreciation | 0.74 | 0.14 |
| Profit Before Tax | -6.36 | -16.06 |
| Tax | -1.33 | 0.00 |
| Tax % | 20.88% | 0.00% |
| Profit After Tax | -5.03 | -16.06 |
| Growth % | -68.68% | - |
| PAT % | -5.77% | -670.19% |
| Diluted EPS | -0.26 | -3.68 |
Company Financials
| Metric | FY2026 | FY2025 |
|---|---|---|
| Equity Capital | 101.13 | 6.00 |
| Non Controlling Interest | 0.00 | 0.00 |
| Other Equity | 196.38 | -9.50 |
| Total Equity | 297.50 | -3.50 |
| Borrowings | 2.57 | 10.11 |
| Other Non-Current Liabilities | 1.79 | 0.46 |
| Total NC Liabilities | 4.36 | 10.56 |
| Borrowings | 0.00 | 0.00 |
| Other Current Liabilities | 9.28 | 2.40 |
| Total Current Liabilities | 9.28 | 2.40 |
| Equity + Liabilities | 311.14 | 9.46 |
| Fixed Assets (incl. WIP) | 32.12 | 0.54 |
| Other Non Current Assets | 3.20 | 0.08 |
| Total NC Assets | 35.32 | 0.63 |
| Trade Receivables | 58.21 | 0.44 |
| Cash & Cash Equivalents | 33.32 | 1.07 |
| Other Current Assets | 184.29 | 7.33 |
| Total Current Assets | 275.83 | 8.83 |
| Total Assets | 275.83 | 9.46 |
Shareholding Pattern
- 63 moons technologies ltd (Holding Company)
- 65.27%
- Others
- 34.73%
Strengths & Weaknesses
Strengths
- Growth: Revenue rose ~36x from ₹2.40 Cr in FY25 to ₹87.16 Cr in FY26. Provisional billed revenue for H1 FY27 is ₹218.21 Cr, about 2.5x all of FY26, and management has raised FY27 guidance from ₹350 Cr to ₹600 Cr.
- Strong Revenue Visibility: The H1 FY27 order book stands at ₹400 Cr, of which ~55% is already billed. All orders are implemented and billed within 12 months, and ~10% of revenue is recurring annuity.
- Credible Parentage & Leadership: The company is backed by 63 moons technologies. Its board is chaired by Lt. Gen. M. U. Nair (Retd.), former National Cyber Security Coordinator of India, which gives it strong credibility in government and defence circles.
- Diversified Client Base: 63SATS serves 107 enterprise clients, including the Indian Navy, Election Commission of India, SBI Life, ICICI Securities, the Godrej group, Aditya Birla Grasim and Vi. The company states that no single client or segment dominates revenue.
- Proprietary IP Gaining Share: CYBX AI CyberOps billed ₹88 Cr in H1 FY27, ~40% of total billing. This shifts the revenue mix from services towards higher-margin IP.
- Regulatory Tailwind: India’s DPDP Act carries penalties of up to ₹250 Cr per violation, with full enforcement beginning May 13, 2027. The company’s DPDP pipeline has grown to 105 enterprise clients
Weaknesses
- Loss-Making Operations: The company reported an operating loss of ₹11.87 Cr and a net loss of ₹5.03 Cr in FY26. Management guides that EBITDA will stay negative “by design” through FY27, with profitability expected only from FY28.
- Limited Operating Track Record: The cybersecurity business began only in June 2024, and the company was non-operational for several years before that.
- Intense Competitive Landscape: 63SATS competes with global cybersecurity majors and large Indian IT services firms, many with far larger R&D budgets and longer client relationships.
About 63SATS Cybertech Limited
63SATS Cybertech Limited is an Indian cybersecurity company that protects individuals, enterprises and government infrastructure through one integrated IP platform.
Board of Directors
- Lt. Gen. Madhavan Unnikrishnan Nair (Retd.) - Chairman (Additional Non-Executive Director)
- Neehar Pathare - Managing Director, CEO & CIO
- Srinivas Lingamuthu - Joint Managing Director & Joint CEO
- Nimish Shukla - Whole Time Director
- Sunil Mehta - Independent Director
- Umesh Mehta - Non-Executive, Non-Independent Director
Senior Management
- Neehar Pathare - MD, CEO & CIO
- Srinivas Lingamuthu - Joint MD & Joint CEO
- Jatin Doshi - Chief Financial Officer
- Reena Agrawal - Company Secretary