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Capillary Technologies India Limited (CAPILLARY)

₹545.40 +1.92% last close, 16 Oct

📊 NSE: CAPILLARY 🏢 Software Products 📢 Latest filing: 16 Sep 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Capillary Technologies' revenue was ₹257 Cr (+42.7% year on year, +34.1% on the previous quarter), and net profit ₹-9.6 Cr (against a profit a year earlier); the operating margin was 15.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹257	+42.7%	+34.1%
Operating profit	₹40.3	+125.9%	+28.3%
Net profit	₹-9.6	to loss	to loss
EPS (₹)	-1.20	to loss	to loss
Operating margin	15.7%	—	—

Full quarterly financials → Results calendar →

CAPILLARY delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 42.53% of the CAPILLARY shares traded on NSE were taken to delivery, against the stock's own 20-session average of 46.29%. That is close to its usual level. Volume was 0.2 times its average, well below normal.

42.53%Delivery, 16 Oct

46.29%Own 20-session average

0.2×Volume vs its average

₹545.40NSE close · +1.92%

Delivery in the last 5 sessions: 40.2% · 48.6% · 37.7% · 39.0% · 42.5%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Capillary Technologies to Attend Anand Rathi Flagship Conference on Sept 21, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 16 Sep 2026, 04:13 PM

Capillary Technologies India Limited has scheduled an institutional investor meeting on Monday, September 21, 2026. The company will physically attend the Anand Rathi Annual Flagship Conference G-200 Summit 2026 in Mumbai. Management noted that no Unpublished Price Sensitive Information (UPSI) will be discussed during the interaction. This filing comes following a Q1 FY27 (Jun 2026) revenue of Rs 256.64 crore and a net loss of Rs 9.55 crore.

Meeting scheduled for Monday, September 21, 2026
Participating in Anand Rathi Annual Flagship Conference G-200 Summit 2026
Mode of meeting is physical in Mumbai
Company confirmed that no UPSI will be shared during interactions

💡 Track if any investor presentation or transcript is uploaded to exchange filings post-conference for qualitative operational updates.

Capillary Technologies Designates 7 Senior Management Personnel Effective September 1, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 01 Sep 2026, 01:42 PM

Capillary Technologies India Limited announced that its Board of Directors approved the appointment and designation of 7 individuals as Senior Management Personnel (SMP) effective September 1, 2026. The appointments span key functions including Finance, Legal, Customer Success, Regional Leadership, and Corporate Strategy. Additionally, following the departure of Mr. Narayanan Alagappan, Company Secretary Ms. Gireddy Bhargavi Reddy will solely handle investor relations.

Designated 7 executives as Senior Management Personnel (SMP) effective September 1, 2026
Appointees include Mr. Sumit Kumar (President - MEA & India), Mr. Sumit Sureka (VP - Finance), and Ms. Aruna Subramanian (VP - Legal)
Mr. Rishi Pratim Ray and Mr. ShubhKant Kalsi have tenures exceeding 7 and 14 years within the group, respectively
Ms. Gireddy Bhargavi Reddy becomes the sole Investor Relations head following the cessation of Mr. Narayanan Alagappan

💡 Track operational execution across key growth regions (Middle East, Africa, India) and watch for updates in corporate governance or future quarterly investor communications.

Capillary Technologies Shareholders Approve All 3 Resolutions at 14th AGM with ~100% Majority

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 31 Aug 2026, 04:54 PM

Capillary Technologies India Limited has submitted the scrutinizer's report and voting results for its 14th Annual General Meeting held on August 28, 2026. A total of 55,342,505 votes were polled, representing 69.54% of total outstanding shares (79,588,731). All three ordinary resolutions, including the adoption of standalone and consolidated FY26 financial statements and the re-appointment of Director Mr. Aneesh Reddy Boddu, were passed with near 100% approval.

All 3 ordinary resolutions approved with ~100.00% votes in favour
Total voter turnout stood at 69.5356% (55,342,505 votes polled out of 79,588,731 shares)
Adoption of FY26 Standalone and Consolidated Financial Statements approved unanimously
Re-appointment of retiring Director Mr. Aneesh Reddy Boddu approved with 99.9998% favourable votes
Total shareholder count on record date (August 21, 2026) was 19,452

💡 Track upcoming quarterly financial results and business execution metrics; this filing represents standard post-AGM statutory compliance.

Capillary Technologies Concludes 14th AGM; Reports FY26 Revenue of ₹743.6 Cr (23% YoY)

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Aug 2026, 05:47 PM

Capillary Technologies India Limited concluded its 14th Annual General Meeting on August 28, 2026. In his address, MD & CEO Aneesh Reddy Boddu highlighted FY 2025-26 revenue of ₹7,436 million (up 23% YoY) and adjusted EBITDA of ₹1,069 million (up 43% YoY). The AGM agenda included the adoption of FY26 standalone and consolidated financial statements, alongside the re-appointment of director Aneesh Reddy Boddu, who retired by rotation.

FY 2025-26 revenue reached ₹7,436 million, reflecting a 23% YoY growth
Adjusted EBITDA for FY 2025-26 stood at ₹1,069 million, recording 43% YoY growth
Company highlighted its listing on BSE on November 21, 2025, which saw its IPO oversubscribed 52.95 times
A total of 35 members attended the 14th AGM conducted via video conference

💡 Track the upcoming disclosure of formal voting results and scrutinize upcoming quarterly earnings to monitor growth momentum and profitability in its AI-led product initiatives (aiRA).

Capillary Clarifies ~4% Equity Sale Was PE Investor Exit (Peak XV), Not Founder Divestment

🟡 NEUTRAL ⭐ 5/10

OTHER 📅 25 Aug 2026, 05:17 PM

Capillary Technologies clarified that the transaction executed on August 10, 2026, involving approximately 4% of the company's equity share capital by its promoter entity Capillary Technologies International Pte. Ltd. (CTIPL), was done to facilitate an exit for early-stage investor Peak XV Partners. The company emphasized that this was not a divestment or exit by operational founders, whose commitment and alignment remain intact. Following this transaction, other institutional private equity investors continue to hold an aggregate equity stake of over 30% in CTIPL. The company noted that future liquidity events by such PE investors may also take place through CTIPL in line with the holding structure.

Clarified that the ~4% equity share capital transaction executed on August 10, 2026, was a PE exit for Peak XV Partners
Operational founders have not divested their stake or reduced alignment with the company
Other institutional private equity investors continue to hold over 30% aggregate equity in promoter entity CTIPL
Future secondary liquidity events by CTIPL-level PE investors may similarly be routed via CTIPL

💡 Track shareholding patterns and disclosures regarding CTIPL to monitor any further secondary sales by remaining institutional PE investors.

Capillary Q1 FY27: New ACV Grows 75% to ₹92 Cr; Management to Beat ₹1,065 Cr Revenue Guidance

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 10 Aug 2026, 04:06 PM

Capillary Technologies reported a strong start to FY27, with trailing 12-month new Annual Recurring Contract Value (ACV) growing 75% to ₹92 crore. The company maintains a healthy Net Retention Rate (NRR) of 111% (116% excluding the largest customer) and a subscription gross margin of 66%. Management indicated they expect to exceed their full-year FY27 guidance of ₹1,065 crore in revenue and ₹172 crore in profitability. The US market remains the primary growth driver, now accounting for 60% of total revenue.

New ACV (trailing 12 months) increased 75% YoY to ₹92 crore from ₹53 crore.
Net Retention Rate (NRR) reached 111%, indicating strong expansion within the existing customer base.
US market contribution has grown to 60% of total revenue, followed by Asia at 25% and Europe at 15%.
Management expects to beat the FY27 revenue guidance of ₹1,065 crore and profitability target of ₹172 crore.
SessionM acquisition (from Mastercard) closed on May 1, 2026, with integration already contributing to QSR and airline segments.

💡 Investors should monitor the margin trajectory of the SessionM acquisition, which management expects to improve from break-even to 15% EBITDA margin within a year by reducing server costs.

75% New ACV Growth and SessionM Integration Highlight Q1 FY27 Earnings Call

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 10 Aug 2026, 03:59 PM

Capillary Technologies reported strong momentum in Q1 FY27, with trailing 12-month new Annual Recurring Contract Value (ACV) growing 75% to ₹92 cr. The company is successfully integrating the SessionM acquisition (closed May 1, 2026), targeting a move from break-even to 15% EBITDA margins within a year by optimizing server costs. Management expressed high confidence in exceeding their FY27 guidance of ₹1,065 cr in revenue and ₹172 cr in EBITDA. Despite a mentioned 'fraud incident', the core business remains robust with a Net Retention Rate (NRR) of 111%.

New Annual Recurring Contract Value (ACV) grew 75% YoY to ₹92 cr on a trailing 12-month basis
Net Retention Rate (NRR) stood at 111%, or 116% when excluding the single largest customer
Management expects to exceed the full-year FY27 revenue guidance of ₹1,065 cr
US market now accounts for 60% of total revenue, followed by Asia at 25% and Europe at 15%
SessionM integration is expected to save $6-8 million in server costs over the next 3-4 quarters

💡 Watch for the execution of the SessionM margin recovery plan and the specific impact of the 'fraud incident' mentioned by management in future filings. Monitor if the company can maintain the 30-40% ACV growth rate projected for the full year.

Capillary Technologies releases Q1 FY27 earnings conference call audio recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 04 Aug 2026, 06:56 PM

Capillary Technologies has released the audio recording of its Q1 FY27 earnings conference call held on August 04, 2026. This is a procedural filing following the company's quarterly results to ensure transparency for all shareholders. The recording provides management commentary on the company's performance, following a Dec 2025 quarter where revenue stood at ₹184.03 cr with a net profit of ₹7.99 cr. Investors can access the recording via the company's website to understand the business trajectory and management's response to institutional concerns.

Earnings conference call for Q1 FY27 conducted on August 04, 2026
Audio recording made available via Amazon S3 link as per SEBI Regulation 30
Company reported a net profit of ₹7.99 cr in the Dec 2025 quarter
Institutional dissent previously noted at 49.7440% regarding ESOP 2021 ratification

💡 Investors should listen to the recording to gauge management's strategy for human capital retention and their response to the high level of institutional dissent on governance matters.

43% Revenue Growth in Q1 FY27; Adj. EBITDA up 132% to ₹44 Cr despite Exceptional Loss

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 04 Aug 2026, 02:20 PM

Capillary Technologies reported a robust 43% YoY revenue growth to ₹256.64 cr for Q1 FY27, underpinned by 111% organic Net Revenue Retention (NRR). Adjusted EBITDA surged 132% to ₹44.02 cr as operating expenses (excluding COGS) rose only 32%, demonstrating significant operating leverage. Despite strong operational performance, the company recorded a net loss of ₹9.55 cr due to a one-time exceptional expense of ₹33.39 cr. Growth was further bolstered by a 75% YoY increase in new Annual Contract Value (ACV) and the integration of the SessionM acquisition.

Revenue from operations grew 43% YoY to ₹256.64 cr in Q1 FY27.
Adjusted EBITDA increased 132% YoY to ₹44.02 cr, with margins expanding to 17%.
Organic Net Revenue Retention (NRR) remained strong at 111%.
New Annual Contract Value (ACV) grew by 75% YoY, excluding exceptional healthcare wins.
One-time exceptional loss of ₹33.39 cr led to a consolidated net loss of ₹9.55 cr.

💡 Monitor the migration timeline of acquired SessionM and Kognitiv customers to the Capillary platform; management expects this to improve their gross margins from ~30% to ~65%.

Capillary Acquires CustomerGlu to Scale AI Loyalty for 1.9 Billion+ Consumers

🟢 POSITIVE ⭐ 7/10

M&A 📅 04 Aug 2026, 02:05 PM

Capillary Technologies has acquired the CustomerGlu software platform and associated intellectual property from Delaware-based Marax AI, Inc. through an asset purchase agreement. The acquisition integrates gamification and GenAI-driven interactive engagement into Capillary's existing loyalty stack, which currently serves over 1.9 billion consumers globally. While the transaction value was not disclosed, the move is designed to eliminate IT bottlenecks for enterprise clients, allowing marketers to launch real-time interactive experiences like challenges and streaks.

Acquisition of CustomerGlu platform and IP from Marax AI, Inc. via Capillary Pte Ltd.
Capillary's SaaS platform currently powers loyalty experiences for over 1.9 billion consumers.
The company supports 100+ loyalty programs across more than 46 countries.
Integration follows an 8-month AI-led transformation period at CustomerGlu.
Acquisition aims to reduce heavy IT dependencies for enterprise brands using the CustomerGlu SDK.

💡 Watch for the integration timeline of CustomerGlu into Capillary's core SaaS offering and any subsequent impact on client retention or new enterprise contract wins in the next 2-3 quarters.

₹33.39 Cr Cyber Fraud Reported; Standalone Revenue Up 52% YoY to ₹64.29 Cr

🔵 WATCH ⭐ 9/10

EARNINGS 📅 04 Aug 2026, 01:59 PM

Capillary Technologies reported a strong standalone operational performance for Q1 FY27, with revenue growing 51.9% YoY to ₹64.29 cr and turning a standalone profit of ₹7.77 cr. However, the results are overshadowed by a major cyber-enabled banking fraud in its Czech Republic subsidiary, resulting in an unauthorized transfer of ₹33.39 cr (€3.04 million). This loss has been recognized as an exceptional item in the consolidated results. The company still holds ₹203.22 cr in unutilized IPO proceeds, primarily earmarked for inorganic growth and cloud infrastructure.

Standalone revenue from operations grew 51.9% YoY to ₹642.87 million from ₹423.25 million.
Standalone PAT turned positive at ₹77.65 million compared to a loss of ₹51.21 million in the same quarter last year.
Reported a cyber-fraud loss of ₹333.86 million (€3.04 million) in a Czech step-down subsidiary.
Unutilized IPO proceeds stand at ₹2,032.17 million as of June 30, 2026, out of ₹3,229.08 million raised.
Employee benefit expenses increased 36.3% YoY to ₹347.23 million.

💡 Investors should monitor the progress of the forensic investigation into the Czech subsidiary fraud and the recovery of the ₹4.67 cr currently frozen by authorities. The core business shows strong standalone growth, but internal control risks in international operations are now a key concern.

Capillary Technologies Acquires CustomerGlu Platform to Enhance AI-Driven Loyalty Gamification

🟢 POSITIVE ⭐ 7/10

M&A 📅 04 Aug 2026, 01:57 PM

Capillary Technologies has acquired the CustomerGlu software platform and associated intellectual property from Marax AI, Inc. through its subsidiary, Capillary Pte Ltd. The acquisition integrates CustomerGlu’s gamification and interactive UI layer into Capillary’s AI core, aiming to reduce IT dependencies for marketers. While the acquisition value was not disclosed, the move strengthens Capillary's position in the global loyalty market where it already serves 1.9 billion+ consumers. This strategic addition allows for real-time deployment of interactive experiences like challenges and streaks within digital products.

Acquisition of CustomerGlu platform and IP from Delaware-based Marax AI, Inc. via an asset purchase agreement.
Capillary's SaaS platform currently delivers loyalty experiences for over 1.9 billion consumers.
The company supports 100+ loyalty programs across more than 46 countries globally.
The acquisition follows an 8-month AI-led transformation period spearheaded by CustomerGlu's CEO.
Integration aims to eliminate engineering bottlenecks, allowing marketers to launch interactive UI experiences in near real-time.

💡 Investors should monitor the integration of CustomerGlu's SDK into Capillary's existing SaaS suite and watch for improvements in client retention or new enterprise contract wins in subsequent quarterly filings.

43% Revenue Growth in Q1 FY27; Adjusted EBITDA Surges 132% to ₹44.0 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 04 Aug 2026, 01:50 PM

Capillary Technologies reported strong operational performance for Q1 FY27, with revenue from operations growing 43% YoY to ₹256.6 cr. Adjusted EBITDA saw a significant jump of 132% to ₹44.0 cr, driven by operational leverage as non-COGS costs grew only 32%. Despite strong operations, the company posted a net loss of ₹9.55 cr due to a one-time exceptional expense of ₹33.39 cr. Key growth metrics remain robust with an organic Net Revenue Retention (NRR) of 111% and a 75% YoY growth in TTM New Annual Contract Value (ACV).

Revenue from operations increased 43% YoY to ₹2,566.4 Mn in Q1 FY27
Adjusted EBITDA grew 132% YoY to ₹440.2 Mn, with margins expanding to 17% from 11%
Organic Net Revenue Retention (NRR) maintained at a healthy 111%
TTM New Annual Contract Value (ACV) grew by 75% YoY, excluding exceptional healthcare vertical entry
Subscription Gross Margin remained stable at 66% for the quarter

💡 Watch the execution of the SessionM and Kognitiv customer migrations; management expects these to move from ~30% to ~65% gross margins once fully integrated into the Capillary stack.

Capillary Technologies to Attend Emkay Confluence 2026 on August 12

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Aug 2026, 08:02 PM

Capillary Technologies India Limited has scheduled a physical group meeting with analysts and institutional investors at the Emkay Confluence 2026 on August 12, 2026. This interaction comes after the company reported a Dec 2025 quarterly revenue of 184.035 crore and a net profit of 7.991 crore. The meeting is a standard investor relations activity, though it occurs against a backdrop of significant institutional investor dissent (49.74%) regarding the company's ESOP 2021 scheme. No unpublished price-sensitive information is intended to be shared during the session.

Scheduled group meeting with institutional investors on Wednesday, August 12, 2026.
Participation in the Emkay Confluence 2026 physical event.
Company reported Dec 2025 quarterly revenue of 184.035 crore.
Context of 49.7440% institutional votes cast against the ESOP 2021 ratification in recent filings.

💡 Investors should monitor the company's website for any post-meeting presentations or transcripts to understand management's outlook on growth and governance.

Capillary Technologies to hold 14th AGM on August 28, 2026; FY26 Annual Report released

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 01 Aug 2026, 03:55 PM

Capillary Technologies has scheduled its 14th Annual General Meeting (AGM) for August 28, 2026, to be held via video conferencing. The company has issued notices and provided web-links for the FY 2025-26 Integrated Annual Report to all shareholders, including those without registered email addresses. This administrative step follows a quarter (Dec 2025) where the company reported revenue of ₹184.035 crore and a PAT of ₹7.991 crore. Investors should monitor the AGM for updates on corporate governance, especially given the historical 49.74% institutional dissent regarding ESOP schemes.

14th Annual General Meeting (AGM) scheduled for August 28, 2026, at 11:30 A.M. IST
Integrated Annual Report for the financial year 2025-26 made available via digital links
Company reported a revenue of ₹184.035 crore for the quarter ended December 2025
Historical institutional dissent of 49.7440% (5,947,972 votes) recorded against previous ESOP ratifications
Promoter holding remains stable at 51.45% as of June 2026

💡 Investors should review the FY 2025-26 Annual Report for management's commentary on growth and governance, and participate in the e-voting process for AGM resolutions.

View All CAPILLARY Announcements on Live Market Tracking →

💰 Financial Performance

Financial analysis data not yet available for this company.

⚙️ Operational Drivers

Operational analysis data not yet available for this company.

📈 Strategic Growth

Growth Strategy

The company is focusing on human capital retention and alignment through the ratification of the Capillary Employees Stock Option Scheme-2021 (ESOP 2021). This strategy is intended to incentivize employees by linking compensation to company performance, which is critical for maintaining a competitive edge in the technology sector.

Brand Portfolio

Capillary

🌍 External Factors

Industry Trends

The technology industry is seeing a trend of increased shareholder activism and institutional scrutiny regarding executive and employee compensation. This is evidenced by the 49.7440% of institutional votes (5,947,972 votes) cast against the ratification of the ESOP 2021 scheme, indicating a significant divide in investor expectations regarding dilution and incentive structures.

⚖️ Regulatory & Governance

Industry Regulations

The company operates under the regulatory oversight of SEBI, specifically complying with Regulation 44(3) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, and Section 108 of the Companies Act, 2013, regarding the conduct of postal ballots and electronic voting for special resolutions.

⚠️ Risk Analysis

Key Uncertainties

A key business risk is the high level of institutional investor dissent, with 49.7440% of institutional votes opposing the ESOP 2021 ratification. This lack of consensus could lead to future friction regarding corporate governance and capital allocation strategies. The resolution passed primarily due to 100% support from the Promoter and Promoter Group (41,195,648 votes).