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Sigma Solve Ltd
(SIGMA)
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Rating:86Outperform
Price Target:
₹59.00
▼(-0.51% Downside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by strong financial performance (high profitability, very low leverage, and excellent cash conversion). Technicals add support with a clear uptrend and positive momentum, though momentum indicators are nearing stretched territory. Valuation is reasonable with a moderate P/E and a high dividend yield, partially offset by higher volatility (beta).
Positive Factors
Cash Generation
Exceptional cash conversion (OCF ~314M, FCF ~312M; FCF ≈99% of net income) provides durable internal funding for capex, dividends, or buybacks. Strong cashflow reduces refinancing risk and supports strategic reinvestment and resilience over the next 2–6 months.
Negative Factors
Margin Compression
Margin compression versus 2022–2023 peaks suggests rising costs or a less favorable revenue mix. If persistent, this can erode operating leverage, limit net margin expansion and force efficiency measures or price actions that risk competitiveness over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Exceptional cash conversion (OCF ~314M, FCF ~312M; FCF ≈99% of net income) provides durable internal funding for capex, dividends, or buybacks. Strong cashflow reduces refinancing risk and supports strategic reinvestment and resilience over the next 2–6 months.
Read all positive factors
Sigma Solve Ltd (SIGMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.85B
Dividend Yield0.11%
Average Volume (3M)19.07K
Price to Earnings (P/E)15.1
Beta (1Y)1.33
Revenue Growth21.23%
EPS Growth53.64%
CountryIN
Employees224
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)3.04
Shares Outstanding102,774,980
10 Day Avg. Volume16,573
30 Day Avg. Volume19,069
Financial Highlights & Ratios
PEG Ratio0.63
Price to Book (P/B)4.85
Price to Sales (P/S)3.91
P/FCF Ratio11.99
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Sigma Solve Ltd Business Overview & Revenue Model
Company Description
Sigma Solve Limited, an Indian company headquartered in Ahmedabad, specializes in developing enterprise software solutions. The firm delivers extensive information technology and IT-enabled services, in addition to providing full-spectrum consulta...
Sigma Solve Ltd Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
92
Very Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 979.91M | 956.17M | 761.72M | 650.54M | 558.42M | 410.92M |
| Gross Profit | 445.17M | 418.27M | 358.95M | 299.33M | 295.88M | 258.49M |
| EBITDA | 334.65M | 328.35M | 271.41M | 266.20M | 240.76M | 163.70M |
| Net Income | 312.75M | 238.77M | 190.90M | 161.37M | 117.66M | 89.61M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 892.23M | 615.06M | 400.02M | 631.20M | 366.01M |
| Cash, Cash Equivalents and Short-Term Investments | 103.34M | 103.34M | 120.66M | 81.46M | 63.88M | 283.05M |
| Total Debt | 0.00 | 20.13M | 36.54M | 48.37M | 38.70M | 4.23M |
| Total Liabilities | -770.94M | 121.29M | 120.79M | 97.84M | 113.79M | 25.10M |
| Stockholders Equity | 770.94M | 770.68M | 494.25M | 302.18M | 341.75M | 229.35M |
Cash Flow | ||||||
| Free Cash Flow | 167.66M | 311.92M | 178.08M | 59.61M | 127.12M | 163.37M |
| Operating Cash Flow | 168.65M | 313.86M | 180.08M | 73.97M | 197.42M | 164.47M |
| Investing Cash Flow | -138.44M | -229.41M | -207.31M | 365.22M | -122.32M | -145.86M |
| Financing Cash Flow | -13.24M | -22.09M | -21.01M | -411.99M | 32.31M | -10.01M |
Sigma Solve Ltd Technical Analysis
Positive
59.30
Price Trends
40.73
Positive
41.49
Positive
46.17
Positive
Market Momentum
2.29
Negative
57.61
Neutral
40.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SIGMA, the sentiment is Positive. The current price of 59.3 is above the 20-day moving average (MA) of 43.38, above the 50-day MA of 40.73, and above the 200-day MA of 46.17, indicating a bullish trend. The MACD of 2.29 indicates Negative momentum. The RSI at 57.61 is Neutral, neither overbought nor oversold. The STOCH value of 40.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SIGMA.
Sigma Solve Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
86 Outperform | ₹4.85B | 15.15 | ― | 0.09% | 21.23% | 53.64% | |
75 Outperform | ₹4.12B | 13.23 | ― | 13.87% | 4.74% | -11.10% | |
73 Outperform | ₹6.37B | 15.03 | ― | 1.84% | 10.51% | 31.80% | |
67 Neutral | ₹4.08B | 9.39 | ― | ― | 35.17% | 9.87% | |
56 Neutral | ₹4.09B | 20.67 | ― | ― | -2.98% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹5.73B | 15.43 | ― | ― | -2.21% | -53.12% |
* General Sector Average
IN:SIGMA
Sigma Solve Ltd
46.47
8.48
22.32%
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Sigma Solve Ltd Corporate Events
Sigma Solve Publishes Q1 FY27 Results in Ahmedabad Dailies
Aug 1, 2026
Sigma Solve Limited, an Ahmedabad-based listed technology and IT services company, provides digital solutions and operates from PV Enclave on Sindhubhavan Road. Its shares trade on both the National Stock Exchange of India and BSE under the symbol...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.