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Last Updated: April 2, 2026, 3:33 am
Author: Getaka|Social: XLinkedIn

RS Software (India) Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹30.62Undervalued by 33.13%vs CMP ₹23.00

P/E (15.0) × ROE (16.5%) × BV (₹15.30) × DY (1.09%)

Defaults: P/E=15

₹33.38Undervalued by 45.13%vs CMP ₹23.00
MoS: +31.1% (Strong)Confidence: 48/100 (Moderate)Models: 5 Under, 2 Fair, 1 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹24.5721%Fair (+6.8%)
Graham NumberEarnings₹34.1116%Under (+48.3%)
Earnings PowerEarnings₹26.3113%Under (+14.4%)
DCFCash Flow₹38.1216%Under (+65.7%)
Net Asset ValueAssets₹18.559%Over (-19.3%)
EV/EBITDAEnterprise₹69.5811%Under (+202.5%)
Earnings YieldEarnings₹33.809%Under (+47%)
Revenue MultipleRevenue₹22.036%Fair (-4.2%)
Consensus (8 models)₹33.38100%Undervalued
Key Drivers: EPS CAGR -19.8% drags value — could be higher if earnings stabilize.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -19.8% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

53
RS Software (India) Ltd scores 53/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health65/100 · Strong
ROCE 17.9% GoodROE 16.5% GoodD/E 0.14 Low debtInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 40.9% Stable
Earnings Quality55/100 · Moderate
OPM expanding (-30% → 28%) ImprovingWorking capital: 146 days Capital intensive
Quarterly Momentum15/100 · Weak
Revenue (4Q): -58% YoY DecliningProfit (4Q): -209% YoY DecliningOPM: -118.9% (down 140.8% YoY) Margin pressure
Industry Rank75/100 · Strong
ROCE 17.9% vs industry 14.9% Above peers3Y sales CAGR: 27% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:33 am

Market Cap 59.5 Cr.
Current Price 23.0
Intrinsic Value₹33.38
High / Low 91.6/21.5
Stock P/E
Book Value 15.3
Dividend Yield1.09 %
ROCE17.9 %
ROE16.5 %
Face Value 5.00
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for RS Software (India) Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Visesh Infotecnics Ltd 125 Cr. 0.33 / 1.110.00 %2.21 %2.23 % 1.00
Mudunuru Ltd 37.9 Cr. 12.0 21.0/4.43 0.200.00 %27.0 %90.7 % 2.00
Naapbooks Ltd 91.7 Cr. 85.0 194/71.014.0 36.40.00 %23.6 %17.1 % 10.0
IB Infotech Enterprises Ltd 77.6 Cr. 606 820/15048.5 26.70.16 %38.5 %35.4 % 10.0
Hit Kit Global Solutions Ltd 25.9 Cr. 4.81 6.20/0.91 2.240.00 %2.14 %2.15 % 2.00
Industry Average17,316.11 Cr418.4898.13120.780.77%14.90%21.00%6.77

All Competitor Stocks of RS Software (India) Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 8.3712.2511.0810.9419.3018.2318.7517.2012.688.687.776.075.35
Expenses 8.229.988.539.949.8912.4311.9611.479.9010.3710.2810.8511.71
Operating Profit 0.152.272.551.009.415.806.795.732.78-1.69-2.51-4.78-6.36
OPM % 1.79%18.53%23.01%9.14%48.76%31.82%36.21%33.31%21.92%-19.47%-32.30%-78.75%-118.88%
Other Income 0.090.250.052.080.182.140.090.120.080.300.160.120.00
Interest 0.000.220.050.050.040.040.030.030.020.020.010.010.48
Depreciation 0.921.361.141.151.191.201.351.300.741.071.251.251.60
Profit before tax -0.680.941.411.888.366.705.504.522.10-2.48-3.61-5.92-8.44
Tax % 0.00%0.00%0.00%0.00%0.00%0.00%7.64%-9.29%0.00%0.00%0.00%0.00%0.00%
Net Profit -0.680.941.411.888.376.715.094.942.10-2.48-3.61-5.92-8.44
EPS in Rs -0.210.400.580.763.062.641.791.940.62-0.95-1.40-2.29-3.26

Last Updated: February 4, 2026, 11:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 1:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 38237619076636560352830605728
Expenses 30528318611110810397534035414443
Operating Profit 77934-35-45-37-37-18-12-51914-15
OPM % 20%25%2%-46%-71%-57%-61%-50%-44%-16%32%24%-55%
Other Income 71215129612241411
Interest 10000117100001
Depreciation 5644234544545
Profit before tax 779914-27-39-35-45-21-12-91810-20
Tax % 31%32%26%-37%-30%-18%64%0%31%0%0%0%
Net Profit 546711-17-26-28-74-21-16-91810-20
EPS in Rs 20.9326.224.13-6.35-10.04-10.56-27.99-7.80-5.89-3.177.043.38-7.90
Dividend Payout % 14%12%24%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)24.07%-83.58%-254.55%-52.94%-7.69%-164.29%71.62%23.81%43.75%300.00%-44.44%
Change in YoY Net Profit Growth (%)0.00%-107.66%-170.96%201.60%45.25%-156.59%235.91%-47.81%19.94%256.25%-344.44%

RS Software (India) Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-17%
5 Years:-1%
3 Years:28%
TTM:-31%
Compounded Profit Growth
10 Years:-18%
5 Years:16%
3 Years:37%
TTM:-97%
Stock Price CAGR
10 Years:-5%
5 Years:28%
3 Years:37%
1 Year:-75%
Return on Equity
10 Years:-15%
5 Years:-8%
3 Years:14%
Last Year:16%

Last Updated: September 5, 2025, 12:50 pm

Balance Sheet

Last Updated: February 1, 2026, 1:47 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 13131313131313131313131313
Reserves 16321121620117514664432618364435
Borrowings 0001000802210
Other Liabilities 262026161617118910181516
Total Liabilities 20124425523120317689724843687364
Fixed Assets 18129813122015101061014
CWIP 1116060000430
Investments 546670101644518581000
Other Assets 12916517511612611251522932586050
Total Assets 20124425523120317689724843687364

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 536119-39-37-30-41-159-10168
Cash from Investing Activity + -33-1010-2343173415-26-0-8
Cash from Financing Activity + -6-11-4-3-0-1-3-1-800-0
Net Cash Flow 144024-647-14-9-1-1-3160
Free Cash Flow 425818-48-40-38-47-1510-10111
CFO/OP 69%65%527%111%81%79%111%85%-107%195%84%59%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow77.0093.004.00-36.00-45.00-37.00-37.00-26.00-12.00-7.0017.0013.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 44.5345.5734.2567.3657.8334.3334.57105.5151.2010.6668.6029.80
Inventory Days 0.000.000.000.00
Days Payable
Cash Conversion Cycle 44.5345.5734.2567.3657.8334.3334.57105.5151.2010.6668.6029.80
Working Capital Days 31.0744.0119.5696.4289.25102.26133.82249.82100.40134.1094.16146.01
ROCE %51.04%48.70%3.32%-14.85%-21.82%-21.28%-27.01%-30.89%-22.55%-24.36%44.35%17.94%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 40.67%40.67%40.67%40.67%40.67%40.67%40.67%40.50%40.50%40.70%40.88%40.88%
FIIs 1.95%1.95%1.95%1.95%0.99%1.04%3.22%3.30%1.24%0.91%0.77%0.83%
DIIs 0.05%0.05%0.05%0.05%0.05%0.05%0.41%0.06%0.05%0.05%0.05%0.05%
Government 0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public 57.31%57.33%57.31%57.31%58.28%58.22%55.67%56.14%58.20%58.33%58.28%58.21%
No. of Shareholders 26,42725,37723,81122,93321,55521,98824,47825,04726,12925,78725,38425,422

Shareholding Pattern Chart

No. of Shareholders

RS Software (India) Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.005.005.005.00
Basic EPS (Rs.) 3.667.08-3.19-6.40-8.24
Diluted EPS (Rs.) 3.677.08-3.19-6.40-8.24
Cash EPS (Rs.) 5.468.96-1.80-4.52-6.36
Book Value[Excl.RevalReserv]/Share (Rs.) 22.1919.1011.9415.4522.13
Book Value[Incl.RevalReserv]/Share (Rs.) 22.1919.1011.9415.4522.13
Revenue From Operations / Share (Rs.) 22.1923.1611.7210.7113.79
PBDIT / Share (Rs.) 5.499.03-1.71-3.06-6.25
PBIT / Share (Rs.) 3.777.21-3.29-4.70-8.13
PBT / Share (Rs.) 3.737.14-3.38-4.70-8.24
Net Profit / Share (Rs.) 3.737.14-3.38-6.16-8.24
NP After MI And SOA / Share (Rs.) 3.387.04-3.17-5.88-7.80
PBDIT Margin (%) 24.7538.98-14.61-28.62-45.32
PBIT Margin (%) 16.9731.13-28.08-43.88-58.95
PBT Margin (%) 16.8030.82-28.82-43.88-59.71
Net Profit Margin (%) 16.8030.82-28.82-57.52-59.73
NP After MI And SOA Margin (%) 15.2230.41-27.03-54.95-56.53
Return on Networth / Equity (%) 15.2237.22-26.72-38.53-35.98
Return on Capital Employeed (%) 15.9735.68-24.77-29.65-31.53
Return On Assets (%) 11.9726.50-18.85-31.61-28.01
Long Term Debt / Equity (X) 0.000.000.000.000.14
Total Debt / Equity (X) 0.000.000.000.000.14
Asset Turnover Ratio (%) 0.811.070.660.370.38
Current Ratio (X) 4.833.343.194.668.67
Quick Ratio (X) 4.833.343.194.668.67
Dividend Payout Ratio (NP) (%) 7.360.000.000.000.00
Dividend Payout Ratio (CP) (%) 4.870.000.000.000.00
Earning Retention Ratio (%) 92.640.000.000.000.00
Cash Earning Retention Ratio (%) 95.130.000.000.000.00
Interest Coverage Ratio (X) 146.75125.61-19.77-15755.60-59.52
Interest Coverage Ratio (Post Tax) (X) 100.64100.32-37.99-31665.60-77.45
Enterprise Value (Cr.) 154.88472.2749.8469.6959.88
EV / Net Operating Revenue (X) 2.707.931.652.531.69
EV / EBITDA (X) 10.9120.35-11.32-8.85-3.73
MarketCap / Net Operating Revenue (X) 3.088.311.892.891.76
Retention Ratios (%) 92.630.000.000.000.00
Price / BV (X) 3.0810.171.872.021.12
Price / Net Operating Revenue (X) 3.088.311.892.891.76
EarningsYield 0.040.03-0.14-0.19-0.32

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

RS Software (India) Ltd. is a Public Limited Listed company incorporated on 02/12/1987 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L72200WB1987PLC043375 and registration number is 043375. Currently Company is involved in the business activities of Computer consultancy and computer facilities management activities. Company's Total Operating Revenue is Rs. 57.32 Cr. and Equity Capital is Rs. 12.92 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
IT Consulting & SoftwareFMC FORTUNA, 1st Floor, A-2, 234/3A, Kolkata West Bengal 700020Contact not found
Management
NamePosition Held
Mr. R RamarajChairman
Mr. Raj JainManaging Director & CEO
Mrs. Sarita JainDirector
Mr. Richard LaunderDirector
Mr. Cedarampattu S MohanDirector
Mr. Peter SweersDirector

FAQ

What is the intrinsic value of RS Software (India) Ltd and is it undervalued?

As of 09 April 2026, RS Software (India) Ltd's intrinsic value is ₹33.38, which is 45.13% higher than the current market price of ₹23.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (16.5 %), book value (₹15.3), dividend yield (1.09 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of RS Software (India) Ltd?

RS Software (India) Ltd is trading at ₹23.00 as of 09 April 2026, with a FY2026-2027 high of ₹91.6 and low of ₹21.5. The stock is currently near its 52-week low. Market cap stands at ₹59.5 Cr..

How does RS Software (India) Ltd's P/E ratio compare to its industry?

RS Software (India) Ltd has a P/E ratio of , which is below the industry average of 98.13. This is broadly in line with or below the industry average.

Is RS Software (India) Ltd financially healthy?

Key indicators for RS Software (India) Ltd: ROCE of 17.9 % indicates efficient capital utilization; ROE of 16.5 % shows strong shareholder returns. Dividend yield is 1.09 %.

Is RS Software (India) Ltd profitable and how is the profit trend?

RS Software (India) Ltd reported a net profit of ₹10 Cr in Mar 2025 on revenue of ₹57 Cr. Compared to ₹-16 Cr in Mar 2022, the net profit shows an improving trend.

Does RS Software (India) Ltd pay dividends?

RS Software (India) Ltd has a dividend yield of 1.09 % at the current price of ₹23.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in RS Software (India) Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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