Quick Heal Technologies, founded in the late 1990s, is a key player in Indian cybersecurity software. With a market cap of ₹1,596 crore and a share price around ₹297, it holds a leadership position in the domestic enterprise security segment (~30% market share). The company is almost debt-free, but valuation is expensive with a P/E over 300x.
2. Business Overview
Quick Heal offers antivirus, endpoint security, and enterprise cybersecurity solutions targeting both domestic and international markets. It has expanded into AI-driven cybersecurity as a U.S. AI Safety Institute Consortium member (FY24). Its flagship brand “Seqrite” focuses on enterprise clients.
3. Financial Summary
Source table
Metric
Value
Notes
Market Cap
₹1,596 Cr
Small-mid cap
P/E Ratio
317
Extremely high, caution warranted
ROCE
0.28%
Very low operational returns
ROE
1.15%
Poor equity returns
Dividend Yield
1.01%
Modest payout
Book Value
₹81.8
Price/Book ~3.63x
Debt
Nearly nil
Debt-free
4. Recent Quarterly Performance (Q1 FY26)
Revenue declined to ₹57.2 Cr, showing a sharp fall (about -18.6% YoY).
Operating loss of ₹5.5 Cr, a negative swing compared to past quarters.
CEO Vishal Salvi announced resignation effective August 31, 2025, indicating potential management transitions.
Working capital stretched with debtor days ballooning to 218 and working capital days surging to 354, suggesting collection and liquidity concerns.
5. Revenue & Profit Trends (Last 5 Years)
Source table
Year
Sales (₹ Cr)
PAT (₹ Cr)
CAGR Sales
CAGR PAT
FY21
~280
~5
-0.47%
Negative
FY22
~292
~24
FY23
~280
~5
The company is witnessing stagnant or declining revenue and volatile profits, with a worrying downward trend in the last couple of years.
6. Balance Sheet Highlights
Total assets around ₹525 Cr, steady but not growing significantly.
No debt, which is positive for financial stability.
Cash flow from operations weak, even negative in recent periods.
Significant investments in fixed assets (~₹119 Cr).
7. Cash Flow Summary
Operating cash flows have turned negative recently (-₹22 Cr in FY25 Q4).
Investing cash flow slightly positive but minimal, indicating low
