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Kody Technolab Limited (KODYTECH)

📊 NSE: KODYTECH 🏢 Computers - Software - Medium / Small 📢 Latest filing: 15 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (H2 FY26)

In its latest reported quarter, H2 FY26, Kody Technolab's revenue was ₹48.6 Cr (+51.9% year on year, +53.4% on the previous half-year), and net profit ₹12.3 Cr (+75.5% year on year); the operating margin was 30.0%.

H2 FY26 (₹ Cr)	Value	YoY vs H2 FY25	vs prev. half
Revenue	₹48.6	+51.9%	+53.4%
Operating profit	₹14.6	+32.8%	+58.7%
Net profit	₹12.3	+75.5%	+174.3%
EPS (₹)	8.59	+47.6%	+144.7%
Operating margin	30.0%	—	—

Full quarterly financials → Results calendar →

KODYTECH delivery percentage

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

On Fri, 16 Oct 2026, 97.85% of the KODYTECH shares traded on NSE were taken to delivery, against the stock's own 20-session average of 95.11%. That is close to its usual level. It closed at a price band (circuit) on 1 session in about the last 20.

97.85%Delivery, 16 Oct

95.11%Own 20-session average

1.1×Volume vs its average

₹1,552.85NSE close · +2.13%

Delivery in the last 5 sessions: 92.2% · 100.0% · 95.7% · 98.3% · 97.8%

Delivery across the market →Circuit stocks →

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

Kody Technolab Receives Trading Approval for 1.23 Lakh Equity Shares from Oct 16, 2026

🟡 NEUTRAL ⭐ 3/10

FUNDRAISE 📅 15 Oct 2026, 06:55 PM

Kody Technolab Limited has received trading approval from the National Stock Exchange of India (NSE) for 1,23,100 fully paid-up equity shares of face value Rs 10 each. These shares were allotted pursuant to the conversion of warrants issued on a preferential basis. The new equity shares will be listed and admitted to dealings on the NSE effective October 16, 2026. The allotted shares carry a lock-in period up to May 10, 2027.

Trading approval received from NSE for 1,23,100 equity shares of Rs 10 each
Shares issued pursuant to conversion of warrants on a preferential basis
Admitted to dealings on the exchange with effect from October 16, 2026
Shares are locked in until May 10, 2027

💡 Monitor any resulting dilution in overall shareholding patterns in subsequent quarterly filings.

Kody Technolab Raises ₹10.24 Cr via Warrant Conversion; Allots 1.40 Lakh Shares

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 12 Oct 2026, 03:41 PM

Kody Technolab's Board has approved the allotment of 1,40,000 equity shares upon conversion of warrants to non-promoter Mr. Nishid Babulal Shah. The company received the remaining 75% balance of ₹731.25 per warrant, totaling ₹10.2375 crore. Following this, the company's paid-up equity share capital increased marginally to ₹14.56 crore (1,45,56,560 shares). Additionally, the Board appointed M/s. Sorab S Engineers & Co. as the Internal Auditor for FY 2026-27.

Received ₹10,23,75,000 upon receipt of 75% exercise price (₹731.25 per warrant)
Allotted 1,40,000 equity shares at an issue price of ₹975 per share (including ₹965 premium)
Total paid-up equity shares increased from 1,44,16,560 to 1,45,56,560
Allottee Nishid Babulal Shah's holding increased from 0.55% to 1.51%
Appointed M/s. Sorab S Engineers & Co. as Internal Auditor for FY 2026-27

💡 Track listing and trading approval of the newly allotted shares on the exchange, along with the utilization of warrant proceeds for planned expansion.

Kody Technolab Raises ₹10.24 Cr via Warrant Conversion; Allots 1.40 Lakh Shares

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 12 Oct 2026, 03:41 PM

Received ₹10,23,75,000 upon receipt of 75% exercise price (₹731.25 per warrant)
Allotted 1,40,000 equity shares at an issue price of ₹975 per share (including ₹965 premium)
Total paid-up equity shares increased from 1,44,16,560 to 1,45,56,560
Allottee Nishid Babulal Shah's holding increased from 0.55% to 1.51%
Appointed M/s. Sorab S Engineers & Co. as Internal Auditor for FY 2026-27

💡 Track listing and trading approval of the newly allotted shares on the exchange, along with the utilization of warrant proceeds for planned expansion.

Kody Technolab Raises ₹10.24 Cr via Warrant Conversion; Allots 1.40 Lakh Shares

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 12 Oct 2026, 03:38 PM

Received ₹10,23,75,000 upon receipt of 75% exercise price (₹731.25 per warrant)
Allotted 1,40,000 equity shares at an issue price of ₹975 per share (including ₹965 premium)
Total paid-up equity shares increased from 1,44,16,560 to 1,45,56,560
Allottee Nishid Babulal Shah's holding increased from 0.55% to 1.51%
Appointed M/s. Sorab S Engineers & Co. as Internal Auditor for FY 2026-27

💡 Track listing and trading approval of the newly allotted shares on the exchange, along with the utilization of warrant proceeds for planned expansion.

Kody Technolab Raises ₹10.24 Cr via Warrant Conversion; Allots 1.40 Lakh Shares

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 12 Oct 2026, 03:37 PM

Received ₹10,23,75,000 upon receipt of 75% exercise price (₹731.25 per warrant)
Allotted 1,40,000 equity shares at an issue price of ₹975 per share (including ₹965 premium)
Total paid-up equity shares increased from 1,44,16,560 to 1,45,56,560
Allottee Nishid Babulal Shah's holding increased from 0.55% to 1.51%
Appointed M/s. Sorab S Engineers & Co. as Internal Auditor for FY 2026-27

💡 Track listing and trading approval of the newly allotted shares on the exchange, along with the utilization of warrant proceeds for planned expansion.

Kody Technolab 9th AGM: All 15 Resolutions Passed Including Related Party Transactions

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Oct 2026, 05:16 PM

Kody Technolab announced the voting results and scrutinizer's report for its 9th Annual General Meeting held on September 30, 2026. A total of 15 resolutions were approved with 100% of the valid votes polled in favor across all items. Key approvals included the adoption of FY26 financial statements, increase in borrowing powers under Section 180(1)(c), and material related party transactions with Kody Middle East Holding, Arvind Anticor, Datamac Analytics, and Kody Equipments. Overall, 10,679,354 votes were cast representing 74.72% of total outstanding shares.

All 15 resolutions approved with 100.00% of valid votes cast in favor
Total votes polled amounted to 10,679,354 shares, representing 74.7150% of outstanding shares
Promoter voting participation stood at 10,018,052 shares (100% of promoter holding polled)
Approved material related party transactions with entities including Datamac Analytics LLC and Kody Middle East Holding L.L.C. - FZ
Approved increase in borrowing powers under Section 180(1)(c) of the Companies Act, 2013

💡 Track disclosures in upcoming quarterly reports regarding debt uptake under the increased borrowing limit and transaction volumes with related parties like Datamac Analytics.

Kody Technolab Holds 9th AGM; Considers ₹100 Cr Promoter Loan and Material RPTs

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 30 Sep 2026, 05:19 PM

Kody Technolab concluded its 9th Annual General Meeting on September 30, 2026. The key resolutions tabled included approvals to enhance borrowing limits, investment and loan powers under Sections 180 and 186, and an unsecured loan of up to ₹100 Crores from Promoter and Managing Director Manav Patel. Multiple material related-party transactions (RPTs) were also put to vote, involving entities like Falcon Tech Robotics LLC and Datamac Analytics LLC. Scrutinizer voting results will be disclosed separately.

Conducted 9th AGM on September 30, 2026 via VC/OAVM, concluding at 12:45 P.M.
Proposed an unsecured promoter loan of up to ₹100 Crores from MD Manav Subhashchandra Patel
Tabled resolutions to increase borrowing powers and expand loan/guarantee limits under Sections 180 and 186
Sought shareholder approval for material RPTs with Falcon Tech Robotics, Datamac Analytics, and 4 other entities

💡 Track the upcoming disclosure of the scrutinizer report to confirm voting outcomes, especially regarding the ₹100 Cr promoter loan limit and related-party approvals.

Kody Technolab Closes Trading Window from October 1, 2026 for H1 FY27 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 28 Sep 2026, 03:09 PM

Kody Technolab Limited has informed the stock exchange about the closure of its trading window starting October 01, 2026. This restriction applies to promoters, directors, designated persons, and their immediate relatives pursuant to SEBI Insider Trading Regulations. The window will remain shut until 48 hours after the declaration of the Unaudited Financial Results for the half-year ending September 30, 2026. The date for the Board of Directors meeting to approve the results will be intimated separately.

Trading window closes effective October 01, 2026
Window remains closed until 48 hours post declaration of H1 results ending September 30, 2026
Applies to Promoters, Directors, Designated Persons, and their immediate relatives
Board meeting date to consider financial results to be informed in due course

💡 Track the upcoming exchange filing for the announcement of the Board meeting date and subsequent release of H1 FY27 financial results.

Kody Technolab Convenes AGM for Sep 30; Seeks Approval to Raise Borrowing Limit to ₹300 Cr

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 08 Sep 2026, 06:40 PM

Kody Technolab has issued a notice for its 9th Annual General Meeting scheduled for September 30, 2026. Key special resolutions include seeking shareholder approval to expand borrowing powers under Section 180(1)(c) up to ₹300 crore over paid-up capital and free reserves. The company also proposes regularizing the appointments of Kashyap Jaladipbhai Jani and Milan Shah as Independent Directors for 5-year terms. Additionally, the filing indicates a projected increase in D/E ratio from 0.04 to 0.28 post-borrowing for operational and expansion needs.

9th Annual General Meeting scheduled for September 30, 2026, via VC/OAVM
Approval sought to increase borrowing powers under Section 180(1)(c) up to ₹300 crore over paid-up share capital and free reserves
Estimated Debt-to-Equity ratio projected to move from 0.04:1 to 0.28:1 post-transaction
Appointment of Independent Directors Kashyap Jani and Milan Shah for a 5-year tenure up to 2031

💡 Monitor voting outcomes at the AGM on September 30, 2026, and track any subsequent debt drawdowns or expansion announcements funded via the approved ₹300 crore borrowing limit.

Kody Technolab approves up to ₹100 Cr unsecured loan from promoter and multiple RPTs

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 07 Sep 2026, 06:22 PM

Kody Technolab's Board has approved availing an unsecured loan of up to ₹100 Crores from Promoter and Managing Director Mr. Manav Subhashchandra Patel. This proposed loan is substantial relative to the company's current net worth of ₹205 Crores and existing debt of ₹8 Crores. Additionally, the Board approved material related-party transactions (RPTs) with 6 entities, including Falcon Tech Robotics LLC and Datamac Analytics LLC. These transactions will be placed for shareholder approval at the 9th Annual General Meeting on September 30, 2026.

Approved availing unsecured loan of up to ₹100 Crores from Promoter & MD Manav Patel
Loan amount represents ~48.8% of reported net worth (₹205 Cr)
Approved material related-party transactions across 6 entities including Falcon Tech Robotics LLC and Datamac Analytics LLC
Scheduled 9th Annual General Meeting for September 30, 2026 via VC/OAVM

💡 Track the detailed AGM notice disclosures on loan interest terms/repayment structure and the quantified caps for material related-party transactions.

Kody Technolab Terminates Joint Venture Agreement with Vira Drones SA

🟡 NEUTRAL ⭐ 4/10

M&A 📅 11 Aug 2026, 04:26 PM

Kody Technolab Limited has mutually terminated its Joint Venture (JV) Agreement with Vira Drones SA, Switzerland, effective August 11, 2026. The partnership, originally announced on March 29, 2025, was intended to develop advanced aerial systems in India. However, the JV company was never incorporated, and no shares were issued or capital deployed. Management states the termination is due to differences in strategic priorities and will not have a material impact on the company's Rs 205 Cr net worth or current operations.

Mutual termination of the agreement originally signed on March 29, 2025
Zero shares were issued or allotted as the JV company was never incorporated
Termination driven by differences in strategic priorities and business vision
No material adverse impact expected on the company's financial position or ongoing activities

💡 Investors should monitor if the company reallocates resources previously intended for aerial systems toward its core 'Odigo' robot deployments in the UAE, which are currently key revenue drivers.

Kody Technolab allots 1.23 lakh shares at ₹975; raises ₹9.00 Cr via warrant conversion

🟢 POSITIVE ⭐ 6/10

FUNDRAISE 📅 07 Aug 2026, 06:47 PM

Kody Technolab Limited has allotted 1,23,100 equity shares to a non-promoter investor, Ms. Nikhita Nishid Shah, following the conversion of warrants issued in February 2026. The company received the remaining 75% of the exercise price, amounting to ₹9.00 crore, at a conversion price of ₹975 per share. This transaction increases the company's paid-up equity capital to ₹14.42 crore. The funds are expected to support the company's ongoing expansion in the robotics sector and international markets.

Allotment of 1,23,100 fully paid-up equity shares at an issue price of ₹975 per share
Receipt of ₹9,00,16,875 representing the final 75% payment for the warrant conversion
Total paid-up equity capital increased from ₹14.29 crore to ₹14.42 crore
The allottee's stake in the company increased from 0.23% to 1.08% post-allotment
Conversion relates to a portion of the 6,76,900 warrants originally issued in February 2026

💡 Investors should monitor the deployment of these funds toward the company's planned ₹40 crore investment in World EMS Private Limited and its UAE-based robotics joint venture.

View All KODYTECH Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single primary segment: IT, Robots & IT enabled services. Consolidated revenue from operations for H1 FY26 was INR 3,167.82 Lakhs, representing a 20.79% decrease compared to INR 3,999.23 Lakhs in H1 FY25. This decline is primarily due to a reduction in domestic unit billings during the half-year period.

Geographic Revenue Split

For H1 FY26, 100% of the revenue (INR 3,167.82 Lakhs) was derived from the Domestic Unit. The SEZ Units reported zero revenue for the period, although they hold assets worth INR 603.71 Lakhs, indicating a transition or setup phase for international export operations.

Profitability Margins

Consolidated Profit Before Tax (PBT) margin stood at 24.78% for H1 FY26 (INR 785.03 Lakhs) compared to 25.84% in H1 FY25. Net Profit attributable to the parent was INR 800.74 Lakhs. Margins are being pressured by a share of loss from the Falcon Tech Robotics JV amounting to INR 111.58 Lakhs.

EBITDA Margin

The estimated EBITDA margin for H1 FY26 was approximately 29.94% (calculated as PBT of INR 785.03 Lakhs + Finance Costs of INR 39.16 Lakhs + Depreciation of INR 124.23 Lakhs over Revenue). This reflects healthy core operational profitability despite the YoY revenue contraction.

Capital Expenditure

The company invested INR 605.37 Lakhs in the purchase of property, plant, and equipment during H1 FY26. Additionally, the company has planned a significant investment of INR 40.00 Cr in World EMS Private Limited to enhance manufacturing capabilities.

Credit Rating & Borrowing

Not disclosed in available documents. However, finance costs for H1 FY26 were INR 39.16 Lakhs on short-term borrowings of INR 342.02 Lakhs and negligible long-term debt, suggesting low reliance on external interest-bearing debt.

⚙️ Operational Drivers

Raw Materials

Specific raw materials are not listed, but 'Purchase of Stock in Trade' (robotic components and IT hardware) accounted for INR 729.93 Lakhs, representing 23.04% of total revenue.

Import Sources

Not specifically disclosed, though the company's joint venture in the UAE (Falcon Tech Robotics LLC) suggests a supply chain link to the Middle East for international deployments.

Capacity Expansion

The company is expanding its capital base, increasing authorized share capital to INR 16.00 Cr. It is also utilizing preferential issue funds (INR 31.93 Cr raised) to meet a working capital requirement of INR 33.50 Cr and a planned INR 40.00 Cr investment in World EMS Private Limited.

Raw Material Costs

Purchase of stock in trade decreased by 53.28% YoY to INR 729.93 Lakhs in H1 FY26 from INR 1,562.45 Lakhs in H1 FY25, aligning with the lower revenue and a shift in inventory levels (INR 444.80 Lakhs change in WIP/Finished goods).

📈 Strategic Growth

Growth Strategy

Growth is targeted through international expansion, specifically in the UAE via the Falcon Tech Robotics LLC joint venture. The company recently signed an agreement with Hypermedia FZ-LLC to deploy AI-driven 'Odigo' robots for Digital Out-of-Home (DOOH) advertising. This strategy leverages high-impact experiential marketing to scale robotic platforms across the Middle East.

Products & Services

Odigo robots (AI-driven service robots), autonomous navigation software, intelligent systems design, and IT enabled services.

Brand Portfolio

Odigo (Robotic platform), Kody Technolab.

New Products/Services

Deployment of Odigo robots in the UAE retail and media sector is expected to be a major new revenue contributor through the Falcon Tech Robotics JV.

Market Expansion

Targeting the Middle East (UAE) and Asia for large-scale robotic platform deployments. The SEZ unit assets of INR 6.03 Cr indicate a focus on establishing an export-oriented hub.

Strategic Alliances

Joint Venture: Falcon Tech Robotics LLC (with Platinum Group for Businessmen Services LLC). Partnership: Hypermedia FZ-LLC (subsidiary of W Group) for UAE robot deployment.

🌍 External Factors

Industry Trends

The industry is shifting toward AI-driven automation and 'Experiential Marketing' using robotics. Kody is positioning itself as a creator of advanced robotic solutions to capture this trend in the DOOH (Digital Out-of-Home) space.

Competitive Landscape

Competes with global robotics firms and AI automation providers. The partnership with regional players like Platinum Group provides a localized competitive advantage in the Middle East.

Competitive Moat

The company's moat is built on proprietary autonomous navigation technology and a centralized control dashboard. This creates switching costs for clients like Hypermedia who integrate these robots into their advertising networks.

Macro Economic Sensitivity

High sensitivity to IT spending and advertising budgets in the UAE and India, as robotic deployments are often part of discretionary capital expenditure for clients.

Consumer Behavior

Increasing demand for interactive and AI-driven brand engagements in retail and public spaces is driving the adoption of service robots like Odigo.

Geopolitical Risks

Trade relations between India and the UAE are critical given the company's primary growth strategy is centered on the Falcon Tech Robotics JV in Dubai.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to IT and electronics manufacturing standards in India and safety/robotics regulations in the UAE for public space deployments.

Taxation Policy Impact

Current Tax expense for H1 FY26 was INR 223.83 Lakhs, reflecting an effective tax rate of approximately 28.5% on PBT.

Legal Contingencies

No specific pending court cases or values were disclosed in the limited review reports.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the recoverability of Trade Receivables, which surged 78.48% from INR 3,478.39 Lakhs in March 2025 to INR 6,208.21 Lakhs in September 2025, leading to a negative operating cash flow of INR 10.89 Cr.