As the technology services sector in India continues to witness robust growth, Excelsoft Technologies emerges as a steadily expanding player, offering a unique blend of innovation and resilience. Positioned among seasoned peers such as MPS, Silver Touch Technologies, Sasken Technologies, and InfoBeans Technologies, the company’s fundamentals reflect stability with a measured valuation and sound financial health.
Excelsoft’s financial and operational parameters for FY2025 underscore its consistent growth trajectory, prudent leverage management, and focus on profitability. Below is a comprehensive Excelsoft Technologies IPO peer comparison across key financial and performance metrics.
Excelsoft Technologies IPO Peer Comparison: Financial & Operating Performance
| Parameter | Excelsoft Technologies | MPS | Silver Touch Technologies | Sasken Technologies | InfoBeans Technologies |
| Revenue | 233.29 | 726.89 | 288.38 | 550.91 | 394.78 |
| EBITDA Margin (%) | 31.40 | 30.64 | 13.01 | 4.16 | 17.32 |
| PAT Margin (%) | 14.87 | 20.49 | 7.70 | 9.17 | 9.62 |
| ROE (%) | 10.38 | 32.23 | 17.52 | 6.29 | 11.75 |
| ROCE (%) | 16.11 | 44.99 | 20.39 | 8.07 | 17.48 |
| Debt/Equity | 0.05 | 0.02 | 0.27 | (0.04) | (0.14) |
| Employees | 1,116 | 3,100 | 764 | 1,894 | 1,195 |
Excelsoft Technologies Vs MPS Vs InfoBeans: Valuation & Solvency Ratios
| Parameter | Excelsoft Technologies | MPS | Silver Touch | Sasken Technologies | InfoBeans Technologies |
| Debt/Equity | 0.05 | 0.02 | 0.33 | 0.03 | 0.04 |
| Price to Earnings | 39.87 | 23.10 | 39.70 | 54.90 | 23.30 |
| Price to Book | 3.23 | 7.73 | 7.11 | 2.69 | 4.07 |
| Price to Sales | 5.92 | 5.06 | 3.33 | 2.62 | 3.43 |
| Current Ratio | 4.84 | 1.84 | 1.80 | 1.55 | 9.84 |
Excelsoft Technologies IPO Peer Comparison Analysis: Analytical Summary
Valuation & Market Standing
At a P/E multiple of 39.87, Excelsoft stands moderately valued compared to its peers — higher than MPS (23.1x) and InfoBeans (23.3x), yet well below Sasken (54.9x). This indicates that the market recognizes Excelsoft’s growth potential while maintaining reasonable pricing, especially given its improving profitability metrics and lean balance sheet.
Price-to-Book (3.23x) and Price-to-Sales (5.92x) ratios further reinforce Excelsoft’s positioning as a mid-range valuation play, neither undervalued nor overhyped. Its low Debt-to-Equity ratio (0.05) complements this valuation by reflecting minimal leverage and a solid equity base — a combination that enhances investor comfort in volatile markets.
Profitability and Efficiency
Excelsoft’s EBITDA margin of 31.40% ranks competitively high, outperforming larger peers such as Silver Touch (13.01%) and Sasken (4.16%). While MPS (30.64%) posts slightly stronger profitability, Excelsoft’s balance between margin and scale highlights operational efficiency and cost discipline.
Return metrics such as ROE (10.38%) and ROCE (16.11%) show that the company’s capital deployment remains conservative. While these are modest compared to Ksolves’ extraordinary returns (ROE 129%), Excelsoft’s steadier approach underlines sustainable earnings quality — avoiding overleveraging or concentration risk.
Liquidity and Solvency
The company’s Current Ratio of 4.84 is notably healthy, signifying strong liquidity and prudent working capital management. In contrast, Silver Touch (1.80) and MPS (1.84) operate on tighter liquidity cycles, which could constrain flexibility during economic slowdowns. Excelsoft’s balance sheet, thus, provides a comfort cushion for operations and future expansion.
Growth and Stability Outlook
Excelsoft’s FY2025 performance — revenue of INR 233.29 crore and PAT margin near 15% — underscores its growth consistency. While it may not match the scale of MPS or the high-margin agility of Ksolves, the company’s balanced financials, moderate valuations, and strong liquidity present a compelling case for long-term investors seeking stability with moderate upside potential.
Relative Positioning
- Strengths: Low leverage, high liquidity, healthy margins, sustainable growth.
- Peers outperforming in select metrics: Ksolves (ROE/ROCE), MPS (ROE), Sasken (P/E due to R&D premium).
- Balanced takeaway: Excelsoft’s overall profile appeals to investors preferring steady growth over speculative spikes — a company combining technological credibility with financial prudence.
Excelsoft Technologies IPO Peer Comparison Analysis — IPO Snapshot
| Parameter | Details |
|---|---|
| IPO Dates | 19 – 21 November 2025 |
| Issue Size | INR 500 crore |
| Fresh Issue | INR 180 crore |
| Offer for Sale | INR 320 crore |
| Price Band | INR 114 – 120 per share |
| Retail Allocation | 35% |
| Listing Date | 26 November 2025 |
Conclusion
While peers like MPS continue to attract attention through aggressive growth and profitability spikes, Excelsoft Technologies offers a measured yet resilient growth story.
Its balanced capital structure, comfortable liquidity, and sustainable profitability position it as a dependable player in India’s rapidly evolving IT and EdTech services landscape.
With innovation, fiscal discipline, and sectoral tailwinds on its side, Excelsoft stands poised as a financially sound, moderately valued, and fundamentally stable player — a company worth watching closely as it charts its next phase of growth.
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