How has been the historical performance of Tracxn Technolo.?

Dec 01 2025 11:40 PM IST

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Tracxn Technolo. has shown revenue growth, with net sales increasing to 84.47 Cr in March 2025 from 82.77 Cr in March 2024, but faced profitability challenges, resulting in a loss after tax of -9.54 Cr in March 2025. Total assets and liabilities rose, indicating a growing financial base despite declining operating profit and increased costs.

Revenue and Operating Performance

Over the four-year period ending March 2025, Tracxn Technolo. recorded a consistent increase in net sales, rising from ₹63.45 crores in March 2022 to ₹84.47 crores in March 2025. This steady growth reflects an expanding business scale and market presence. The company’s total operating income mirrored this trend, as there was no other operating income reported during this period.

Operating expenses, primarily driven by employee costs, also increased from ₹58.57 crores in March 2022 to ₹73.87 crores in March 2025, indicating investment in human capital to support growth. Other expenses rose moderately as well, contributing to a total expenditure (excluding depreciation) that climbed from ₹65.36 crores to ₹83.64 crores over the same timeframe.

Operating profit before other income showed improvement from a negative ₹1.91 crores in March 2022 to a positive ₹0.83 crores in March 2025, signalling a turnaround in core operational efficiency. When factoring in other income, operating profit (PBDIT) increased to ₹6.73 crores in March 2025, although this was lower than the peak of ₹8.86 crores seen in March 2024.

Profitability and Margins

Profit before tax (PBT) remained positive in the last three years, recovering from a loss of ₹4.85 crores in March 2022 to ₹6.62 crores in March 2025. However, the company’s profit after tax (PAT) exhibited volatility, with a significant profit of ₹33.09 crores in March 2023 followed by a loss of ₹9.54 crores in March 2025. This sharp swing was influenced by tax expenses, which surged to ₹16.17 crores in the latest fiscal year, impacting net profitability.

Margins reflected these fluctuations. Operating profit margin excluding other income improved from a negative 3.01% in March 2022 to just under 1% in March 2025, while gross profit margin declined from nearly 13% in March 2023 to approximately 8% in March 2025. The PAT margin followed a similar pattern, peaking at over 42% in March 2023 before turning negative in the most recent year.

Earnings per share (EPS) also mirrored this trend, rising to ₹3.30 in March 2023 before falling to a negative ₹0.90 in March 2025, signalling the impact of recent profitability challenges on shareholder returns.

Balance Sheet and Financial Position

Tracxn Technolo.’s balance sheet expanded significantly, with total assets growing from ₹54.01 crores in March 2022 to ₹105.06 crores in March 2025. This growth was supported by a substantial increase in current investments, which rose from ₹16.41 crores to ₹89.58 crores, indicating a strong liquidity position and prudent cash management.

Shareholders’ funds increased steadily, reaching ₹65.80 crores in March 2025, although this was slightly lower than the ₹70.89 crores recorded in March 2024. The company maintained a debt-free status throughout the period, with no long-term or short-term borrowings reported, which reduces financial risk.

Net block of fixed assets remained modest and stable, reflecting limited capital expenditure on tangible assets. Deferred tax liabilities fluctuated, contributing to some volatility in non-current liabilities, which overall showed a negative balance in recent years, possibly due to accounting adjustments.

Cash Flow Trends

Cash flow from operating activities demonstrated resilience, improving from a breakeven position in March 2022 to ₹14 crores in March 2025. This positive cash generation was supported by favourable changes in working capital, which contributed to a cash flow after working capital changes of ₹15 crores in the latest year.

Investing activities consistently reflected cash outflows, primarily due to investments in current assets and other financial commitments, with ₹15 crores spent in March 2025. Financing activities remained neutral, with no new borrowings or repayments recorded.

Overall, the company’s net cash position remained stable, with closing cash and cash equivalents around ₹3 crores in March 2025, slightly down from ₹4 crores the previous year but consistent with operational needs.

Summary and Outlook

Tracxn Technolo. has shown commendable revenue growth and operational improvements over recent years, supported by a strong balance sheet and healthy cash flows. However, the company’s profitability has been uneven, with recent tax expenses and margin pressures leading to a net loss in the latest fiscal year. The absence of debt and a robust investment portfolio provide a solid foundation, but investors should monitor profitability trends closely.

With earnings per share and profit margins experiencing volatility, the company’s future performance will likely depend on its ability to manage costs, optimise tax liabilities, and sustain revenue growth. The steady increase in shareholder funds and asset base suggests capacity for strategic investments and expansion.

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