Enfuse Solutions Limited (ENFUSE)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Enfuse Solutions' revenue was ₹27.0 Cr (+22.7% year on year, -12.9% on the previous half-year), and net profit ₹-7.0 Cr (against a profit a year earlier); the operating margin was -7.4%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹27.0 | +22.7% | -12.9% |
| Operating profit | ₹-2.0 | to loss | loss narrowed |
| Net profit | ₹-7.0 | to loss | loss narrowed |
| EPS (₹) | -7.79 | to loss | loss narrowed |
| Operating margin | -7.4% | — | — |
ENFUSE delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 100.0% of the ENFUSE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 91.76%. That is close to its usual level. Turnover was only ₹1 lakh, so a handful of trades can move this figure. Volume was 0.5 times its average, well below normal.
Delivery in the last 4 sessions: 100.0% · 100.0% · 100.0% · 100.0%
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
Enfuse Solutions Limited has appointed Mr. Samir Bipin Doshi as an Independent Director for a 5-year term effective February 18, 2026. Mr. Doshi brings over 26 years of experience in banking, financial management, and regulatory compliance, having previously served as Senior Vice President at IndusInd Bank. This governance addition comes at a time when Enfuse Solutions reported a TTM net loss of Rs 13 Cr and holds a debt-to-equity ratio of 1.45. The company confirmed that Mr. Doshi is unrelated to any current directors and is not debarred by SEBI.
- Appointment of Mr. Samir Bipin Doshi as Independent Director for a term of 5 years
- Effective date of appointment is 18/02/2026
- Appointee brings 26+ years of extensive experience in banking, financial management, and compliance
- Confirmed not related to any directors and meets independence criteria under Companies Act, 2013 and SEBI LODR
Financial Performance
Revenue Growth by Segment
Not applicable as the company operates in a single operational activity segment focused on integrated digital enterprise solutions.
Profitability Margins
Net Profit Ratio declined from 13% in FY 2023-24 to 7% in FY 2024-25, representing a 46.2% decrease in margin efficiency. Return on Equity (ROE) also dropped significantly from 0.28 to 0.10 (64.3% decrease) due to higher operational and finance costs.
EBITDA Margin
EBITDA (Profit before Interest, Depreciation & Tax) grew from INR 9.01 Cr to INR 11.66 Cr, a 29.4% YoY increase, indicating strong core operational performance before accounting for capital intensity and debt servicing.
Capital Expenditure
Depreciation and Amortization expenses surged from INR 1.45 Cr to INR 4.31 Cr (197% increase), reflecting significant capitalization of software development costs as internally generated intangible assets under AS 26.
Credit Rating & Borrowing
Borrowing costs (Finance Cost) increased by 180.8% from INR 0.84 Cr to INR 2.35 Cr. The Debt-Equity ratio rose from 0.28 to 0.72, indicating increased leverage to fund growth or software development.
Operational Drivers
Raw Materials
Primary input is Human Capital/Talent (100% of service delivery cost) as a digital enterprise.
Import Sources
Not disclosed; talent is primarily sourced from India (Mumbai based).
Capacity Expansion
Not applicable for a digital service provider; however, the company is strengthening its top and middle management bench to support growth.
Raw Material Costs
Not applicable; focus is on employee welfare and competitive compensation to maintain the talent pool.
Manufacturing Efficiency
Not applicable; service efficiency is monitored through project-based internal controls.
Strategic Growth
Growth Strategy
Growth will be achieved by focusing on specific domain expertise, strengthening the management bench, and maintaining a performance-driven work culture. The company is also capitalizing on internally generated software to create technical feasibility and future economic benefits.
Products & Services
Integrated digital enterprise solutions and software development services.
Brand Portfolio
Enfuse Solutions.
New Products/Services
Internally generated software projects currently being capitalized under AS 26.
Market Expansion
Management expects growth subject to favorable market conditions and stable economic policies.
External Factors
Industry Trends
Growing demand for integrated digital enterprise solutions and domain-specific digital transformation.
Competitive Moat
Moat is built on a specialized talent pool and domain-specific expertise in digital enterprise solutions, though sustainability depends on maintaining technical feasibility in software development.
Macro Economic Sensitivity
Growth is subject to stable economic policies and favorable market conditions.
Consumer Behavior
Shift toward integrated digital services in specific industry domains.
Regulatory & Governance
Industry Regulations
Compliance with Section 197 of the Companies Act, 2013 regarding managerial remuneration; the company exceeded the prescribed limit by INR 1.21 Cr during the year.
Taxation Policy Impact
Effective tax rate is approximately 20% based on PBT of INR 5.00 Cr and Income Tax provision of INR 1.00 Cr.
Legal Contingencies
The company reported zero pending litigations as of March 31, 2025.
Risk Analysis
Key Uncertainties
Risk of development costs being capitalized when AS 26 criteria (technical feasibility/future economic benefit) are not met, which could lead to future write-offs.
Third Party Dependencies
Dependency on technical resources and commercial resource availability for project completion.
Technology Obsolescence Risk
High risk given the nature of digital enterprise solutions; requires continuous R&D and software capitalization.
Credit & Counterparty Risk
Receivables quality risk as Trade Receivable Turnover Ratio slowed from 6.28 to 4.02.
