ECS Biztech Ltd (540063)
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, ECS Biztech's revenue was ₹0.3 Cr (-23.3% year on year, -25.0% on the previous quarter), and net profit ₹-0.1 Cr; the operating margin was 15.2%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹0.3 | -23.3% | -25.0% |
| Operating profit | ₹0.1 | -37.5% | +0.0% |
| Net profit | ₹-0.1 | — | to loss |
| EPS (₹) | -0.05 | — | to loss |
| Operating margin | 15.2% | — | — |
📢 Recent Corporate Announcements
Rakesh Ramanlal Shah and Komal Infotech Private Limited have concluded their open offer for ECS Biztech Limited at Rs 10.50 per share. Against an offer size of up to 53,44,313 shares (26.00% of voting capital), only 715 shares were tendered and accepted, amounting to Rs 7,507.50, given the prevailing market price of Rs 13.20. Combined with 1,34,46,936 shares (65.42%) acquired via the Share Purchase Agreement dated July 29, 2026, the acquirers' final post-offer shareholding stands at 1,34,47,651 shares or 65.42%.
- Open offer price finalized at Rs 10.50 per share against market price of Rs 13.20
- Only 715 shares tendered and accepted vs 53,44,313 shares offered (Rs 7,507.50 total consideration)
- Acquirers acquired 1,34,46,936 shares (65.42%) via Share Purchase Agreement dated July 29, 2026
- Total post-offer acquirer holding settled at 65.42% (1,34,47,651 shares), leaving public float at 34.58%
Komal Infotech Private Limited acquired 11,43,410 equity shares (5.56%) of ECS Biztech Limited on October 8, 2026, through an off-market Share Purchase Agreement (SPA) dated July 29, 2026. Following this acquisition, Komal Infotech's stake rose from 3.91% to 9.47%. Along with Person Acting in Concert (PAC) Rakesh Ramanlal Shah (55.95%), the acquirer group's total holding reached 65.42% (1,34,46,936 shares). The SPA and open offer mark their induction into the promoter and promoter group of the micro-cap software firm.
- Acquisition of 11,43,410 equity shares representing 5.56% of paid-up capital
- Komal Infotech's individual holding increased from 8,03,526 shares (3.91%) to 19,46,936 shares (9.47%)
- Combined acquirer and PAC holding reached 1,34,46,936 shares (65.42%)
- Transaction conducted off-market on October 8, 2026 pursuant to SPA dated July 29, 2026
- Total target equity capital remains unchanged at 2,05,55,047 shares (Rs 20,55,50,470)
ECS Biztech Limited announced that shareholders approved the appointment of promoter and founder Mr. Vijay Mandora as Managing Director at the AGM held on September 30, 2026. The appointment is for a 1-year tenure effective from September 5, 2026. Mr. Mandora brings over 35 years of industry experience to the microcap firm, which reported FY26 revenue of Rs 1.91 Cr and net profit of Rs 0.04 Cr.
- Shareholder approval granted on September 30, 2026 at the Annual General Meeting
- Appointment tenure established for a period of 1 year effective September 05, 2026
- Founder Mr. Vijay Mandora possesses more than 35 years of field experience in IT & Telecommunication
Komal Infotech Private Limited and Rakesh Ramanlal Shah have acquired an aggregate 59.50% stake (1,22,30,916 equity shares) in ECS Biztech Limited via an off-market Share Purchase Agreement (SPA). Rakesh Ramanlal Shah acquired 55.95% (1,15,00,000 shares) while Komal Infotech acquired 3.56% (7,30,916 shares), having previously held zero shares. The transaction triggers an Open Offer under SEBI (SAST) Regulations, 2011, and the acquirers will become part of the promoter group of the target company.
- Acquisition of 1,22,30,916 equity shares representing 59.50% of voting capital
- Rakesh Ramanlal Shah acquired 1,15,00,000 shares (55.95%) and Komal Infotech acquired 7,30,916 shares (3.56%)
- Prior to the transaction, both acquirers held 0 shares (0.00%)
- The acquisition triggers an Open Offer under SEBI (SAST) Regulations, with acquirers joining the promoter group
- Total target company equity capital stands at 2,05,55,070 equity shares of Rs 10 each
Komal Infotech Private Limited and Rakesh Ramanlal Shah have acquired an aggregate 59.50% stake (1,22,30,916 equity shares) in ECS Biztech Limited via an off-market Share Purchase Agreement (SPA). Rakesh Ramanlal Shah acquired 55.95% (1,15,00,000 shares) while Komal Infotech acquired 3.56% (7,30,916 shares), having previously held zero shares. The transaction triggers an Open Offer under SEBI (SAST) Regulations, 2011, and the acquirers will become part of the promoter group of the target company.
- Acquisition of 1,22,30,916 equity shares representing 59.50% of voting capital
- Rakesh Ramanlal Shah acquired 1,15,00,000 shares (55.95%) and Komal Infotech acquired 7,30,916 shares (3.56%)
- Prior to the transaction, both acquirers held 0 shares (0.00%)
- The acquisition triggers an Open Offer under SEBI (SAST) Regulations, with acquirers joining the promoter group
- Total target company equity capital stands at 2,05,55,070 equity shares of Rs 10 each
Promoter Vijay Mansinhbhai Mandora submitted SEBI SAST Regulation 29(2) disclosures regarding changes in his shareholding in ECS Biztech Limited. The submission includes historical off-market transactions of 20,00,000 equity shares (9.73% stake) as well as an intimation of acquiring 15,20,700 equity shares from Laurels Management Private Limited on September 16, 2025. Following historical sales disclosed, his holding stood at 1,05,75,390 shares (51.45%), down from 1,25,75,390 shares (61.18%).
- Promoter Vijay Mandora disclosed off-market disposal of 20,00,000 shares (9.73% of total voting capital).
- Post-transaction holding listed in the disclosure stood at 1,05,75,390 shares (51.45% of total voting capital).
- Email intimation notes an acquisition of 15,20,700 equity shares from Laurels Management Private Limited on September 16, 2025.
- Total diluted share capital of the company is 2,05,55,047 equity shares of Rs 10 each (Rs 20.56 cr).
ECS Biztech reported zero revenue from operations for the quarter ended June 30, 2026, compared to Rs 38.68 Lakhs in the same quarter last year. This resulted in a net loss of Rs 13.53 Lakhs. Critically, the company disclosed that promoters have entered into a Share Purchase Agreement (SPA) on July 29, 2026, to sell their entire 65.42% stake. Furthermore, the company sold fixed assets and stock worth Rs 1.06 Cr to a group company on July 3, 2026, effectively liquidating significant operating assets.
- Revenue from operations fell to Rs 0.00 in Q1 FY27 from Rs 38.68 Lakhs in Q1 FY26.
- Net loss of Rs 13.53 Lakhs reported for the quarter against a profit of Rs 3.51 Lakhs YoY.
- Promoters to exit completely by selling 1,34,46,936 shares (65.42% stake) via SPA.
- Fixed assets and stock worth Rs 1.06 Cr sold to a group company on July 3, 2026.
- Company continues to operate with a negative net worth of approximately Rs -2 Cr.
ECS Biztech reported zero revenue from operations for the quarter ended June 30, 2026, resulting in a net loss of Rs 13.53 Lakhs. The most significant development is a Share Purchase Agreement (SPA) dated July 29, 2026, where promoters have agreed to sell their entire 65.42% stake (1.34 crore shares). Additionally, the company sold fixed assets and stock worth Rs 1.06 crore to a group company on July 3, 2026, which represents over 50% of its TTM revenue.
- Revenue from operations fell to Rs 0.00 for Q1 FY27 compared to Rs 38.68 Lakhs in Q1 FY26.
- Promoters to exit completely by selling 1,34,46,936 equity shares (65.42% stake).
- Net loss for the quarter stood at Rs 13.53 Lakhs vs a profit of Rs 3.51 Lakhs YoY.
- Fixed assets and stock worth Rs 1.06 Cr sold to a group company on July 3, 2026.
- Company continues to operate with a negative net worth of Rs -2 Cr as per latest context.
Mr. Rakesh Ramanlal Shah and Komal Infotech Pvt Ltd have filed a Draft Letter of Offer to acquire up to 53,44,313 equity shares (26% stake) of ECS Biztech Ltd. The offer price is set at ₹10.50 per share, which is a significant discount to the current market price of ₹13.2. This open offer follows a Share Purchase Agreement dated July 29, 2026, and aims at substantial acquisition of shares and management control. The company is currently financially stressed with a negative net worth of ₹2 Cr and minimal TTM revenue of ₹2 Cr.
- Offer price of ₹10.50 per share is approximately 20% below the current market price of ₹13.2
- Acquisition target of 53,44,313 shares representing 26.00% of the total voting capital
- Tendering period is scheduled to open on September 22, 2026, and close on October 06, 2026
- Company financials show a negative net worth of ₹-2 Cr and a high P/E of 660.0
- The offer is triggered by an SPA dated July 29, 2026, for change in management control
ECS Biztech Ltd has scheduled a board meeting for August 13, 2026, to approve its unaudited standalone financial results for the quarter ended June 30, 2026. The company is currently in a fragile financial state with a negative net worth of ₹-2 Cr and a high debt of ₹5 Cr against a TTM revenue of only ₹2 Cr. In the most recent reported quarter (March 2026), the company posted a net loss of ₹0.11 Cr on revenue of ₹0.33 Cr. Investors should monitor these results closely as the company is trading at an extremely high P/E of 629.0 despite its small scale.
- Board meeting scheduled for August 13, 2026, to approve Q1 FY27 results.
- Results pertain to the three-month period ended June 30, 2026.
- Trading window for insiders is currently closed and will reopen 48 hours after the results are declared.
- Company reported a net loss of ₹0.11 Cr in the preceding quarter (March 2026).
- TTM revenue stands at a modest ₹2 Cr for this ₹25 Cr market cap company.
Rakesh Ramanlal Shah and Komal Infotech Pvt Ltd have entered into a Share Purchase Agreement (SPA) to acquire a 65.42% controlling stake in ECS Biztech from existing promoters at ₹2.26 per share. Consequently, a mandatory open offer has been launched to acquire an additional 26% stake (53.44 lakh shares) from public shareholders at ₹10.50 per share. The total open offer consideration is ₹5.61 Cr, which is significantly higher than the company's TTM revenue of ₹2 Cr. The acquirers intend to reconstitute the board and maintain the company's listing status on the BSE.
- Acquisition of 1,34,46,936 shares (65.42%) via SPA at a negotiated price of ₹2.26 per share
- Open offer for 53,44,313 shares (26.00%) at a price of ₹10.50 per share
- Total open offer funding requirement of ₹5.61 Cr fully secured in an escrow account with Axis Bank
- Acquirers and PAC currently hold 0% stake; post-offer holding could reach 91.42% if fully subscribed
- The offer price of ₹10.50 is based on a valuation of ₹5.31 per share for infrequently traded shares plus a premium
Mr. Rakesh Ramanlal Shah and Komal Infotech Pvt Ltd are set to acquire a controlling 65.42% stake in ECS Biztech Ltd from the existing promoters via a Share Purchase Agreement (SPA) at ₹2.26 per share. This has triggered a mandatory Open Offer to public shareholders for an additional 26% stake (53.44 lakh shares) at a significantly higher price of ₹10.50 per share. The total open offer consideration is valued at ₹5.61 crore, which is nearly 2.8x the company's TTM revenue. Following the transaction, the new acquirers will take complete management control, while the current promoters (Mandora group) will exit entirely.
- Open Offer price of ₹10.50 per share is a significant premium to the SPA price of ₹2.26 per share
- Acquirers to purchase 1,34,46,936 shares (65.42% stake) from existing promoters via SPA
- Open Offer size of 53,44,313 equity shares represents 26% of the total voting capital
- Total Open Offer value of ₹5.61 crore compared to the company's TTM revenue of ₹2 crore
- Current promoters (Vijay Mansinhbhai Mandora & others) will reduce their holding from 65.42% to Nil
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