Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹808, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 20x in the IT industry in India. Total loss to shareholders of 33% over the past year. Board Change • Mar 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Additional Non-Executive Independent Director Jinang Shah was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹869, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 24x in the IT industry in India. Total loss to shareholders of 48% over the past year. New Risk • Dec 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (52% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹965, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 25x in the IT industry in India. Total loss to shareholders of 36% over the past year. New Risk • Nov 21
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.75b (US$97.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (52% accrual ratio). Minor Risk Market cap is less than US$100m (₹8.75b market cap, or US$97.7m). Annuncio • Nov 14
Sahana System Limited to Report First Half, 2026 Results on Nov 14, 2025 Sahana System Limited announced that they will report first half, 2026 results on Nov 14, 2025 Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹1,177, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 28x in the IT industry in India. Total loss to shareholders of 9.8% over the past year. New Risk • Oct 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.86b (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (98% accrual ratio). Minor Risk Market cap is less than US$100m (₹8.86b market cap, or US$99.9m). Annuncio • Sep 01
Sahana System Limited, Annual General Meeting, Sep 30, 2025 Sahana System Limited, Annual General Meeting, Sep 30, 2025, at 16:00 Indian Standard Time. New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company. New Risk • May 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹1,391, the stock trades at a trailing P/E ratio of 40x. Average trailing P/E is 27x in the IT industry in India. Total returns to shareholders of 66% over the past year. New Risk • Mar 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.34b (US$96.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹1,098, the stock trades at a trailing P/E ratio of 31.5x. Average trailing P/E is 25x in the IT industry in India. Total returns to shareholders of 59% over the past year. Board Change • Mar 06
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Dharmishtha Patel was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Jan 23
Sahana System Limited Announces Relinquishment of Pratik Ramjibhai Kakadia as Chief Executive Officer Sahana System Limited announced that Mr. Pratik Ramjibhai Kakadia, Chief Executive Officer has vide relinquishment letter dated January 21, 2025, has relinquished from the post of CEO, however, he will continue to act as Managing Director of the Company. Reason for change: This decision has been taken after careful consideration and reflection on company's current needs and CEO own role within the organisation. As the company continues to evolve and expand, it is believed that its essential to reassures the leadership structure that remains with the strategic objectives. Date of Relinquishment: Closing business hours of 21 January 2025. Annuncio • Jan 02
Sahana System Limited Announces Resignation of CS Kshiti Nahar as Company Secretary & Compliance Officer Sahana System Limited announced that CS Kshiti Nahar has tendered her resignation from the post of Company Secretary & Compliance Officer and a Key Managerial Personnel of the Company due to personal reasons . Date of resignation: Letter dated 31st December, 2024 effective from the closing of business hours on 31st December, 2024. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹1,789, the stock trades at a trailing P/E ratio of 51.4x. Average trailing P/E is 36x in the IT industry in India. Total returns to shareholders of 222% over the past year. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹1,517, the stock trades at a trailing P/E ratio of 43.6x. Average trailing P/E is 34x in the IT industry in India. Total returns to shareholders of 155% over the past year. Reported Earnings • Nov 16
First half 2025 earnings released First half 2025 results: EPS: ₹17.53. Net income: ₹141.5m (up ₹141.5m from 1H 2024). New Risk • Nov 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Annuncio • Oct 03
Sahana System Limited Announces Regularization of Additional Directors Sahana System Limited announced that at its AGM held on September 30, 2024, shareholders approved the regularization of additional independent directors Ms. Dharmishtha Prashant Patel and Mr. Ritesh Shivkumar Mishra as independent directors of the company. Annuncio • Sep 16
Sahana System Limited, Annual General Meeting, Sep 30, 2024 Sahana System Limited, Annual General Meeting, Sep 30, 2024, at 17:30 Indian Standard Time. Reported Earnings • Sep 12
Full year 2024 earnings released: EPS: ₹24.22 (vs ₹11.14 in FY 2023) Full year 2024 results: EPS: ₹24.22 (up from ₹11.14 in FY 2023). Revenue: ₹690.5m (up 186% from FY 2023). Net income: ₹182.1m (up 193% from FY 2023). Profit margin: 26% (in line with FY 2023). Buy Or Sell Opportunity • Jul 05
Now 20% undervalued Over the last 90 days, the stock has risen 102% to ₹1,743. The fair value is estimated to be ₹2,186, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 77% over the last 3 years. Earnings per share has grown by 85%. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹1,815, the stock trades at a trailing P/E ratio of 79.7x. Average trailing P/E is 38x in the IT industry in India. Total returns to shareholders of 1,036% over the past year. Buy Or Sell Opportunity • Jun 15
Now 22% undervalued Over the last 90 days, the stock has risen 141% to ₹1,706. The fair value is estimated to be ₹2,192, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 77% over the last 3 years. Earnings per share has grown by 85%. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹1,318, the stock trades at a trailing P/E ratio of 57.9x. Average trailing P/E is 35x in the IT industry in India. Reported Earnings • May 20
Full year 2024 earnings released: EPS: ₹24.22 (vs ₹11.14 in FY 2023) Full year 2024 results: EPS: ₹24.22 (up from ₹11.14 in FY 2023). Revenue: ₹692.9m (up 187% from FY 2023). Net income: ₹182.1m (up 193% from FY 2023). Profit margin: 26% (in line with FY 2023). Annuncio • May 17
Sahana System Limited Announces the Resignation of Hetang Arunkumar Shah as the Managing Director and Member of Audit Committee and Stakeholders Relationship Committee Sahana System Limited announced that Mr. Hetang Arunkumar Shah has tendered his resignation as the Managing Director of the Company with effect from close of business hours on May 15, 2024, citing personal commitments. Mr. Hetang Arunkumar Shah automatically ceased to be a Member of Audit Committee, Stakeholders Relationship Committee, with effect from 15 May 2024. New Risk • May 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). High level of non-cash earnings (43% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Share price has been volatile over the past 3 months (8.0% average weekly change). Revenue is less than US$5m (₹241m revenue, or US$2.9m). Market cap is less than US$100m (₹7.97b market cap, or US$95.5m). Annuncio • Apr 26
Sahana System Limited Announces Resignation of Ekta Ankit Patel as Independent Director Sahana System Limited informed that Ms. Ekta Ankit Patel have tendered her resignation as the Independent Director of the Company with effect from close of business hours on 25 April, 2024, citing personal commitments. New Risk • Mar 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). High level of non-cash earnings (43% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Revenue is less than US$5m (₹241m revenue, or US$2.9m). Market cap is less than US$100m (₹6.82b market cap, or US$81.8m). Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹303, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 38x in the IT industry in India. New Risk • Sep 13
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (43% accrual ratio). Minor Risks Revenue is less than US$5m (₹241m revenue, or US$2.9m). Market cap is less than US$100m (₹2.04b market cap, or US$24.6m). Annuncio • Sep 02
Sahana System Limited, Annual General Meeting, Sep 23, 2023 Sahana System Limited, Annual General Meeting, Sep 23, 2023, at 11:30 Indian Standard Time. Agenda: To consider adoption of audited financial statements; to consider re-appointment of a director; to consider appointment of A.k. ostwal & co., chartered accountant as statutory auditor of the company; and to consider other issues. Annuncio • Aug 19
Sahana System Limited (NSEI:SAHANA) agreed to acquire Softvan Labs Private Limited for INR 31.9 million. Sahana System Limited (NSEI:SAHANA) agreed to acquire Softvan Labs Private Limited for INR 31.9 million on August 18, 2023. The deal has been approved by board of directors of Sahana System Limited (NSEI:SAHANA). Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹167, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 39x in the IT industry in India. New Risk • Jun 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 43% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (43% accrual ratio). Minor Risks High level of debt (43% net debt to equity). Revenue is less than US$5m (₹241m revenue, or US$2.9m). Market cap is less than US$100m (₹1.20b market cap, or US$14.6m). Board Change • Jun 12
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Non-Executive Director Hetal Patel is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model.