Unipro Technologies Limited

Technology — Information Technology Services · BSE

₹10.18₹0.00 (0.00%)

DalalBaazaar Score

24 / 100

🔴 Weak

Verdict

HIGH RISK

Risk

Very High

Driven by negative shareholders' equity — the company owes more than it owns, short-term liabilities exceed short-term assets, negative free cash flow.

In simple words: The company owes more than it owns — years of losses have wiped out its net worth, with both sales and profits growing well. Solvency — whether it can keep funding itself at all — is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 8:27 pm

Understanding the Business

Company site ↗

The 60-second version of Unipro Technologies Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Unipro Technologies Limited, a software development company, provides managed information technology (IT) services. The company offers application development, IT training, DBA services, business process outsourcing services, and other IT solutions.

IndustryInformation Technology Services

SectorTechnology

Annual revenue₹1 Cr

How does it make money?

Turns over ₹1 Cr a year. Of every ₹100 of sales, about ₹-31 reaches shareholders as profit, with ₹-27 left at the operating level before interest, tax and depreciation.

Who are its competitors?

The closest listed comparisons in its industry are TATA CONSULTANCY SERV LT, INFOSYS LIMITED, HCL TECHNOLOGIES LTD, WIPRO LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of -10.0% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE32.0%

DalalBaazaar Score

24/ 100

Weak

Weighted across six categories. Every point is explained below.

✗ Shareholders' equity is negative — accumulated losses exceed the capital in the business

Quality vs. Valuation

Company Quality

25/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

30/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

Multiples unreliable — equity base is negative

EV/EBITDA

—

PEG

—

Red Flags

7 items require attention · 4 high · 3 watch

🔴Negative shareholders' equityFinancial
Liabilities exceed assets — accumulated losses have wiped out the company's net worth.
🔴Debt has risen sharplyFinancial
Total debt is up 193% over 3 years, from ₹1 Cr to ₹2 Cr.
🔴Thin interest coverageFinancial
Operating profit covers interest only -1025.7x — little room if earnings dip.
🔴The company is lossmakingFinancial
Net profit of -₹0 Cr in the latest reported year.
🟡Interest coverage is deterioratingFinancial
Cover has fallen from -1166.7x to -1025.7x.
🟡Free cash flow is negativeFinancial
Free cash flow was -₹0 Cr in the latest year.
🟡Short-term liquidity is tightFinancial
Current ratio of 0.57 — near-term obligations exceed near-term assets.

Investment Thesis

🟢 Bull CaseWhat could make this work?

No clear supporting case emerges from the available numbers.

🔴 Bear CaseWhat could go wrong?

Solvency comes before everything else
Liabilities exceed assets. Until net worth is rebuilt, the equity is a claim on a business that owes more than it owns, and further losses or a funding squeeze can leave shareholders with nothing.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
Several serious flags at once
4 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above -29%✓ -27.4%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✗ -₹0 Cr
Profit that never becomes cash eventually stops being profit.
3Interest cover stays above 3x✗ -1025.7x
How much operating profit can fall before interest stops being comfortably covered.

Investment Checklist

4 / 10 checks passed

✗ Shareholders' equity is positive (assets exceed liabilities)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✗ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

2 good · 4 neutral · 5 weak

Market Cap

₹6 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

Not available

No data

Source didn't return this field

EPS (TTM)

₹-0.39

Loss-making

Negative earnings per share — the business is losing money

ROE

Not meaningful

Negative equity

Return on equity can't be read when equity itself is negative

ROCE

-10.0%

Distorted

Distorted by the negative net worth — read this alongside the solvency flag, not on its own

Debt/Equity

Not meaningful

Negative equity

Shareholders' equity is negative, so this ratio can't be read

Revenue Growth (YoY)

192.9%

Healthy

Healthy top-line growth

Profit Growth (YoY)

433.3%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹0 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

23.2%

Good

Healthy core-business profitability

Net Margin

-17.1%

Weak

Very little revenue reaches the bottom line

Current Ratio

0.57

Tight

Tight short-term liquidity

Beta (vs Nifty)

-0.47

Defensive

Steadier than the market

52W Range Position

23%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

11.0 / 12.7

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

19.3

Oversold zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	—	—	₹0 Cr	₹1 Cr	—
EBITDA	-₹0 Cr	-₹1 Cr	-₹0 Cr	-₹0 Cr	—
EBITDA Margin	—	—	-525.0%	-27.4%	—
PAT (Net Profit)	-₹0 Cr	-₹3 Cr	-₹0 Cr	-₹0 Cr	—
EPS	₹-0.19	₹-1.31	₹-0.06	₹-0.51	—
ROCE	-4.1%	-757.5%	-12.2%	-10.0%	—
Total Debt	₹1 Cr	₹1 Cr	₹2 Cr	₹2 Cr	+43.1%
Free Cash Flow	-₹0 Cr	₹0 Cr	-₹1 Cr	-₹0 Cr	—

🟢 EBITDA Margin has risen from -525.0% to -27.4% over 3 years (+497.6 pts).

🔴 ROCE has fallen from -4.1% to -10.0% over 3 years (-5.9 pts).

🔴 Total Debt has grown at 43.1% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹4 Cr

Total Liabilities

₹5 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹0 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

77.9%

Peer Comparison

Company	P/E	ROE
TATA CONSULTANCY SERV LT	17.3x	45.6%
INFOSYS LIMITED	15.8x	32.0%
HCL TECHNOLOGIES LTD	20.4x	24.6%
WIPRO LTD	14.5x	15.9%

Recent News

6 general

Compare CORE EDUCATION with

Equitymaster, 09 Oct

Unipro Technologies schedules 41st AGM for Sep 30, 2026

scanx.trade, 30 Sept

Unipro Technologies shareholders approve CEO pay hike and AGM resolutions

scanx.trade, 01 Oct

Compare with

Equitymaster, 08 Oct

Unipro Technologies turns profitable with ₹9.46 lakh net gain in Q1FY27

scanx.trade, 07 Aug

12 lesser-known stocks surge over 200% in 2026 despite market volatility

Moneycontrol.com, 21 Apr

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
RSI is in oversold territory — could mean either a bargain or a stock still falling for good reason. Check the 'why' before assuming reversal.

DalalBaazaar Thesis

MiddlingGrowth

WeakBusiness Quality · Financial Health · Profitability · Valuation · Risk

Points for each in the Score ↑

Avoid until solvency is resolved

Unipro Technologies Limited owes more than it owns. Whatever the operating numbers show, the equity is a residual claim on a business with negative net worth, and that question has to be settled before any of the rest is worth weighing. 4 high-severity red flags sit above this conclusion and should be read first.

2 of 3 tripwires tripped — Free cash flow remains positive; Interest cover stays above 3x · see Key things to watch ↑