1. At a Glance – Blink and You’ll Miss It
₹3.76 crore market cap. Yes, crore, not typo. Netripples Software Ltd is what happens when a 1993-vintage IT company decides to stay permanently lean — like a monk who also codes healthcare software.
The stock trades at ₹5.51, with a P/E of ~34x, which is hilarious because the ROE is 0.20%. That’s not a typo either. Sales are ₹6.52 crore (TTM), PAT is ₹0.11 crore, and quarterly revenue for the latest reported quarter stands at ₹1.58 crore with net profit of ₹0.04 crore.
No debt. Zero. Nada. Balance sheet is cleaner than a freshly installed Linux server. Price-to-book is just 0.38x, meaning the market is saying, “Nice assets, bro, but what exactly do you do with them?”
Promoter holding is 35.5%, dividends are zero, and the stock has gone absolutely nowhere for five years. This is not a rocket ship — it’s more like a parked ambulance with software inside.
So why are we even talking about it? Because companies like this either quietly die or suddenly surprise. Which one is Netripples? Let’s investigate like a funny forensic accountant. 🕵️♂️
2. Introduction – The 1993 Time Capsule
Netripples Software Ltd was incorporated in 1993. That means this company is older than Google, Amazon, and half of today’s startup founders. Back then, healthcare IT meant floppy disks and dial-up modems.
Fast forward to FY26, and Netripples claims presence in 20+ countries, serving 10 ministries of health and 3,000+ clients with 75 healthcare informatics products. That sounds like a PowerPoint slide written by someone who really loves bullet points.
Yet, the financials whisper instead of shouting. Revenue has shrunk over the last decade, margins are thin, and return ratios are so low that even a savings account is judging them silently.
This is not a fraud story. This is not a hype story. This is a stagnation story — the
