Virinchi financials: balance sheet, profit and loss, cash flow

NSE: VIRINCHIBSE: 532372IT - SoftwareSmall Cap

Virinchi Limited · Face value ₹10 · Listed Oct 2000 on BSE, May 2023 on NSE

₹12.55₹0.04 (0.32%)BSE ₹12.56

Share price at the NSE close on 29 Oct 2026. Previous close ₹12.59.

29 Oct: open ₹12.67, high ₹12.73, low ₹12.51

52-week range of traded prices to 29 Oct 2026

₹11.82Low, 23 Oct 2026₹29.25High, 29 Oct 2025

Market cap: ₹141 Cr2,434th largest listed
P/E: Lossover the last 12 months
P/B: 0.29
Dividend yield: Nonein the last 12 months
ROE: −5.2%
ROE without one-offs: −4.1%
ROCE: 0.5%
Debt to equity: 0.29
Volume, NSE: 9,40290.6% delivered

Virinchi's financial statements for the 10 years to Mar 2026, consolidated: the company and its subsidiaries together, with the twelve months to Jun 2026 after them.

10 years at a glance

₹ crore, years to March.Virinchi annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹407 Cr, year to Mar 2019; lowest ₹284 Cr, year to Mar 2026A loss in the year to Mar 2026, −₹26 Cr

Operating and net margin, per cent

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue284
Materials and goods−9.7
Employee costs−102
Other expenses−103
Operating profit70
Depreciation−56
Other income+1.8
One-off items−5.3
Finance costs−33
Profit before tax−23
Tax−4.5
Joint ventures+1.3
Net profit−26

What the company owns

Plant, investments and other assets₹747 Cr
Receivables₹87 Cr
Cash and bank₹9 Cr
Inventory₹8 Cr

What pays for it: net worth and liabilities

Net worth₹482 Cr
Other liabilities₹218 Cr
Borrowings₹141 Cr
Owed to suppliers₹9 Cr

Virinchi business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them. A segment at a loss has no share of profit.Virinchi segment results by quarter

Revenue by segment

₹284 CrTotal

SAAS Business₹154 Cr54.1% of total
Health Care Services₹80 Cr28.1% of total
IDC & IT Services₹40 Cr14.2% of total
IT Enabled Services₹10 Cr3.5% of total

Profit by segment

SAAS Business₹13.2 Cr92.0% of total
Health Care Services₹0.1 Cr1.0% of total
IT Enabled Services₹1.0 Cr7.0% of total

Segment results by year

Consolidated, ₹ crore, years to March.

SAAS Business
Revenue, ₹ crore
123
123
128
133
154
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
12
12
13
20
13
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Health Care Services
Revenue, ₹ crore
141
162
161
179
135
119
104
80
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
17
19
29
31
24
35
−1
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
IDC & IT Services
Revenue, ₹ crore
55
45
45
57
40
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
11
13
7
19
−2
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
IT Enabled Services
Revenue, ₹ crore
3
5
5
5
5
6
10
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
0
0
0
−1
0
0
1
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Payment & Credit Services
Revenue, ₹ crore
2
4
3
0
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−3
2
1
−3
−4
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	407	382	354	364	312	300	301	284
Company revenue, as in its results	407	381	354	364	312	300	301	284
Revenue	–	–	–	123	123	128	133	154
Revenue growth	–	–	–	–	0.1%	4.0%	4.5%	15.4%
Profit	–	–	–	12	12	13	20	13
Profit growth	–	–	–	–	−2.5%	13.8%	47.4%	−33.6%
Margin	–	–	–	9.9%	9.6%	10.5%	14.9%	8.6%
Revenue	141	162	161	179	135	119	104	80
Revenue growth	–	14.6%	−0.8%	–	−24.7%	−11.9%	−12.5%	−23.2%
Profit	17	19	29	31	24	35	−1	0
Profit growth	–	15.0%	51.0%	–	−21.4%	41.8%	–	–
Margin	11.8%	11.9%	18.1%	17.3%	18.0%	29.1%	−0.8%	0.2%
Revenue	–	–	–	55	45	45	57	40
Revenue growth	–	–	–	–	−18.5%	−0.4%	27.6%	−29.5%
Profit	–	–	–	11	13	7	19	−2
Profit growth	–	–	–	–	22.2%	−47.6%	169.6%	–
Margin	–	–	–	19.5%	29.2%	15.4%	32.5%	−5.9%
Revenue	3	5	–	5	5	5	6	10
Revenue growth	–	–	–	–	–	15.4%	13.6%	65.0%
Profit	0	0	–	0	−1	0	0	1
Margin	11.2%	8.1%	–	9.4%	−19.0%	−1.3%	−3.0%	10.0%
Revenue	–	–	–	2	4	3	0	0
Revenue growth	–	–	–	–	–	−30.8%	–	–
Profit	–	–	–	−3	2	1	−3	−4
Profit growth	–	–	–	–	–	−60.8%	–	–
Margin	–	–	–	−134.9%	38.0%	21.5%	−1,517.4%	–
Revenue	–	–	135	–	–	–	–	–
Profit	–	–	15	–	–	–	–	–
Margin	–	–	10.8%	–	–	–	–	–
Revenue	–	–	55	–	–	–	–	–
Profit	–	–	3	–	–	–	–	–
Margin	–	–	6.1%	–	–	–	–	–
Revenue	–	–	3	–	–	–	–	–
Profit	–	–	0	–	–	–	–	–
Margin	–	–	9.0%	–	–	–	–	–
Revenue	178	151	–	–	–	–	–	–
Revenue growth	–	−15.3%	–	–	–	–	–	–
Profit	45	35	–	–	–	–	–	–
Profit growth	–	−22.9%	–	–	–	–	–	–
Margin	25.4%	23.1%	–	–	–	–	–	–
Revenue	84	63	–	–	–	–	–	–
Revenue growth	–	−24.8%	–	–	–	–	–	–
Profit	22	12	–	–	–	–	–	–
Profit growth	–	−47.0%	–	–	–	–	–	–
Margin	25.9%	18.2%	–	–	–	–	–	–
Revenue	0	0	–	–	–	–	–	–
Profit	0	0	–	–	–	–	–	–
Margin	100.0%	100.0%	–	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March. The last column is the twelve months to Jun 2026, the latest four quarters added.Virinchi quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025Filed 28 May	Mar 2026	Jun 2026Twelve monthsFiled 13 Aug
Revenue from operations	287	341	407	381	354	364	312	300	301	284	275
	223	246	287	271	258	264	206	191	212	215	216
Materials and goods bought	13	13	24	24	23	28	20	14	14	10	11
Employee costs	–	–	129	123	110	106	99	100	97	102	100
Other expenses	–	–	134	124	125	131	87	77	101	103	105
Operating profit before depreciation	64	96	120	111	96	100	106	109	89	70	59
Operating margin	22.3%	28.1%	29.5%	29.0%	27.0%	27.4%	34.1%	36.4%	29.6%	24.5%	21.3%
Materials, % of revenue	–	–	5.8%	6.2%	6.5%	7.6%	6.3%	4.7%	4.7%	3.4%	4.0%
Employee costs, % of revenue	–	–	31.6%	32.2%	31.0%	29.0%	31.7%	33.2%	32.1%	35.8%	36.5%
Other expenses, % of revenue	–	–	33.0%	32.5%	35.4%	36.0%	28.0%	25.7%	33.5%	36.3%	38.2%
Depreciation and amortisation	23	33	36	44	48	48	56	54	55	56	56
Operating profit after depreciation	41	62	84	66	47	51	50	56	34	14	3
Other income	2	1	4	2	11	3	4	5	7	2	2
Finance costs	12	18	22	22	32	26	33	43	39	33	32
Profit before one-off items and tax	31	46	66	46	26	28	21	17	2	−18	−27
One-off items	−2	0	0	0	−5	0	0	0	0	−5	−5
Profit before tax	30	46	66	46	22	28	21	17	2	−23	−32
	6	13	7	−1	19	14	8	4	2	4	−2
Current tax	–	10	14	8	6	6	7	5	6	7	6
Deferred tax	–	3	−7	−9	13	8	1	−1	−5	−3	−9
Share of profit of joint ventures and associates	–	–	–	0	0	0	0	0	0	1	4
	24	33	59	46	3	14	13	14	1	−26	−26
Belonging to the company's shareholders	24	33	59	46	3	14	13	14	1	−25	−25
Belonging to outside owners of subsidiaries	–	–	0	–	–	–	0	–	–	−1	–
Net margin	8.2%	9.7%	14.5%	12.2%	0.7%	3.9%	4.1%	4.6%	0.2%	−9.2%	−9.5%
Net margin without joint ventures and associates	–	–	–	12.2%	0.8%	3.9%	4.1%	4.5%	0.2%	−9.6%	–

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank. Belonging to outside owners of subsidiaries is left blank for the year to Mar 2024: the filing states 0 for this share both for the period and for the year so far, which the form also writes for a line it does not fill, while the company's other filings for the same year show it was not 0 over those months.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025Filed 28 May	Mar 2026
	317	375	376	371	407	454	474	482
	318	376	376	371	408	446	476	493
Share capital	31	33	37	79	84	94	103	109
Reserves	287	343	339	292	325	352	373	384
Belonging to outside owners of subsidiaries	−1	−1	−1	−1	−1	7	−2	−10
	162	156	160	175	194	200	160	141
Repayable after a year	106	104	99	111	120	107	99	88
Repayable within a year	56	52	62	64	73	92	61	54
	104	88	100	100	114	137	123	132
Trade payables	20	11	8	9	5	7	8	9
Provisions	28	24	30	27	35	38	54	69
	114	104	212	233	266	260	250	236
Other financial liabilities	–	–	109	0	0	–	–	–
Other liabilities	–	−4	0	0	123	130	133	132
Provisions	2	0	0	106	5	6	6	7
Deferred tax	5	3	4	16	17	16	12	9
Total assets	535	567	687	703	787	851	847	850
	387	410	514	509	581	642	664	627
Plant in use, after depreciation	293	305	412	390	294	367	338	309
Plant being built	0	4	11	11	110	86	86	86
Intangible assets	41	89	83	89	91	84	231	224
Goodwill	41	0	0	0	0	0	0	0
Intangible assets being developed	0	–	0	0	75	93	–	–
Investments	0	0	0	2	2	3	2	1
Loans given	10	9	8	12	5	5	5	5
Other financial assets	1	–	1	5	0	4	–	2
Other assets	–	1	0	0	3	–	3	–
	148	157	173	195	206	209	183	224
Inventories	8	10	12	14	9	7	5	8
Trade receivables	77	75	77	76	66	74	81	87
Cash and cash equivalents	0	9	2	37	31	20	8	9
Other bank balances	9	0	17	0	0	0	0	0
Loans given	47	50	47	48	74	77	62	88
Other financial assets	7	–	18	20	0	–	–	32
Tax paid in advance	–	–	–	0	0	31	–	–
Other assets	–	13	0	0	26	–	26	–
Net debt	153	148	141	138	163	180	152	133

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025Filed 28 May	Mar 2026
	50	58	99	116	84	21
	101	99	139	131	99	36
	20	−4	29	17	3	−31
Receivables	−4	−13	−8	−14	14	−40
Payables	25	9	37	31	−11	9
Tax paid	−19	−14	−7	−5	−6	−7
Interest paid	−32	−26	−33	−10	−9	−8
Capital spending	62	38	136	114	0	0
Free cash flow	−12	21	−38	3	84	21
	−154	−34	−137	−114	−78	−19
Plant and property sold	0	0	0	0	−79	−19
	115	−7	32	−13	−19	−1
Borrowings raised	95	12	9	−13	0	0
Borrowings repaid	0	0	0	0	−8	−11
Interest paid	0	0	0	−33	−30	−25
Dividends paid	0	0	0	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	14	8	23	37	28	–
Net change in cash	10	18	−6	−11	−12	1

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020. Shares issued is left blank for the year to Mar 2026: the money stated as raised on shares and other equity instruments is more than three times what the shares issued in the period were worth at its end, so not all of it bought shares and the figure is not given.

Consolidated, ₹ per share, years to March.

₹ per share	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025Filed 28 May	Mar 2026
	–	–	–	–	–	₹1.84	₹1.56	₹1.53	₹0.07	−₹2.52
As stated that year	₹8.84	₹11.77	₹18.90	₹14.20	₹0.72	₹1.84	₹1.56	₹1.53	₹0.07	−₹2.52
	–	–	–	–	–	₹1.84	₹1.56	₹1.44	₹0.07	−₹2.52
As stated that year	₹8.84	₹10.78	₹17.27	₹13.90	₹0.70	₹1.84	₹1.56	₹1.44	₹0.07	−₹2.52
	–	–	–	–	–	₹46.81	₹48.81	₹47.51	₹46.36	₹45.28
On that year's share count	–	–	₹101.95	₹114.88	₹101.74	₹46.81	₹48.81	₹47.51	₹46.36	₹45.28
Shareholder yield	–	–	–	–	−11.5%	−1.8%	−7.3%	−12.7%	−13.0%	–
Market cap at the year end (₹ crore)	209	276	257	86	119	463	313	288	213	152

Every year is restated for later splits and bonuses, so they do not break the line. The figure the company stated that year is under each line it differs from. Shareholder yield is left blank for the year to Mar 2026: the money stated as raised on shares and other equity instruments is more than three times what the shares issued in the period were worth at its end, so not all of it bought shares and the figure is not given.

Ratios

Consolidated, years to March.Virinchi PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025Filed 28 May	Mar 2026
Revenue growth	–	19.1%	19.2%	−6.3%	−7.2%	2.8%	−14.3%	−3.8%	0.4%	−5.6%
Operating profit growth	–	50.1%	25.4%	−8.0%	−13.6%	4.3%	6.6%	2.7%	−18.2%	−21.8%
Net profit growth	–	39.9%	78.5%	−21.2%	−94.4%	450.3%	−10.2%	6.6%	−94.7%	–
Earnings per share growth	–	–	–	–	–	–	−15.2%	−1.9%	−95.4%	–
	–	–	18.5%	13.4%	0.7%	3.8%	3.3%	3.2%	0.2%	−5.1%
	–	–	–	−5.1 pts	−12.7 pts	3.1 pts	−0.5 pts	−0.1 pts	−3.0 pts	−5.3 pts
From the net margin	–	–	–	−2.9 pts	−12.6 pts	3.0 pts	0.2 pts	0.4 pts	−3.0 pts	−5.9 pts
From asset turnover	–	–	–	−1.4 pts	−0.1 pts	−0.3 pts	−0.8 pts	−0.5 pts	0.0 pts	0.3 pts
From borrowing	–	–	–	−0.8 pts	0.0 pts	0.4 pts	0.1 pts	0.0 pts	0.0 pts	0.3 pts
Return on capital employed	–	–	17.6%	12.4%	8.8%	9.4%	8.3%	8.5%	5.4%	2.2%
Cash conversion	–	–	–	–	1,917.9%	408.6%	768.2%	848.9%	11,599.4%	–
Interest cover	3.5	3.5	3.8	3.0	1.5	2.0	1.5	1.3	0.9	0.4
Debt to equity	–	–	0.51	0.42	0.43	0.47	0.48	0.44	0.34	0.29
Receivable days	–	–	69	71	79	76	77	90	98	111
Inventory days	–	–	131	148	195	187	161	178	136	295
Payable days	–	–	305	172	130	122	94	181	209	350
Cash conversion cycle, days	–	–	−106	47	144	141	145	86	26	57
Working capital days	–	–	82	108	120	122	158	175	137	175
Asset turnover	–	–	0.76	0.69	0.56	0.52	0.42	0.37	0.35	0.34
Assets per rupee of net worth	–	–	1.68	1.59	1.67	1.86	1.91	1.92	1.84	1.75
Sales per rupee of plant	–	–	1.39	1.25	0.86	0.93	1.06	0.82	0.89	0.92
Capital spending to depreciation	–	–	–	–	1.29	0.78	2.43	2.12	0.00	0.00
Plant being built, % of plant in use	–	–	0.0%	1.5%	2.7%	2.8%	37.4%	23.4%	25.5%	27.9%

Revenue growth, operating profit growth and net profit growth are left blank for the year to Mar 2017: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: −2.9%
Cash from operations against operating profit: 30.1%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	−4.3%	−3.0%
Return on equity, average	–	1.1%	−0.6%
Return on capital employed, average	–	6.8%	5.4%
Operating margin, average	28.8%	30.4%	30.2%
Net margin, average	4.9%	0.7%	−1.5%
Asset turnover, average	–	0.40	0.35
Cash conversion cycle, days, average	–	91	56
Interest cover, average	2.1	1.2	0.9
Debt to equity, average	–	0.40	0.36

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	378	221	21
Cash from investing	−381	−211	−19
Cash from financing	−8	−33	−1
Capital spending	288	114	0
Dividends paid	0	0	0
Shares bought back	0	0	0
Borrowings raised	–	–	0
Borrowings repaid	20	20	11

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	4	5	5	5	4	5
Altman Z-scorePublished threshold 1.1	–	–	4.93	5.63	4.10	3.93	3.70	3.58	3.56	3.63
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.78	−2.75	−2.65	−2.96	−2.75	−2.71
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	17.05	−1.51	6.86	1.43	−0.67	−3.35
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	6.96	6.69	10.96	–
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	3.63	10.40	−4.42	1.65	15.70	9.29	12.54
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	13.12	31.08	−4.91	−9.92	7.33	−23.37	78.88
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	1.77	1.21	0.77	1.83	1.64	−1.58	2.06
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.08	0.07	0.41	–	0.68	3.36	3.19
Effective tax ratePublished threshold 17.16 per cent	20.04	27.48	10.91	−1.91	87.60	49.78	38.55	22.73	79.58	–
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	0.00	4.55	−3.71	−191.41	–

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
24 Aug 2026	Acuite Ratings & Research Limited	Bank Loan Ratings	ACUITE BB+Review, Re-affirm	Negative	19.83
24 Aug 2026	Acuite Ratings & Research Limited	Bank Loan Ratings	ACUITE A4+Review, Re-affirm		2

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.