Saksoft Ltd Q3 FY26 – ₹998 Cr Sales, ₹131 Cr PAT, 18% Margins & a ₹2,231 Cr Market Cap: Quiet Compounder or Acquisition Hangover?

1. At a Glance – Blink and You’ll Miss It

Saksoft Ltd is one of those IT companies that doesn’t shout, doesn’t dance on CNBC, doesn’t promise “AI revolution by next Diwali”… yet quietly compounds like that one CA uncle who never flexes but owns half the street.

As of 02 Feb 2026, Saksoft trades at ₹168, down ~18% in 3 months, ~21% in 1 year — clearly the market is not in a romantic mood. But fundamentals? Still holding hands.

• Market Cap: ₹2,231 Cr
• TTM Sales: ₹998 Cr
• TTM PAT: ₹131 Cr
• ROCE: 24%
• ROE: 18.9%
• Debt-to-Equity: 0.07 (basically debt-free by Indian IT standards)
• P/E: ~17.8 (vs Industry ~24)
• EV/EBITDA: ~10.7

Latest quarter (Q3 FY26) delivered:

• Revenue: ₹251 Cr (+10.6% YoY)
• PAT: ₹29 Cr (+21.1% YoY)
• EPS: ₹2.19

So yes, stock is sulking, business is still doing push-ups. Question is: temporary mood swing or something deeper?

2. Introduction – The Saksoft Personality Disorder (In a Good Way)

Founded in 1999 by Autar Krishna and now run by Aditya Krishna, Saksoft belongs to the rare tribe of Indian IT firms that grew without outsourcing their soul.

They’re not a TCS clone.
They’re not an Infosys wannabe.
They’re not chasing BFSI buzzwords every quarter.

Instead, Saksoft picked a strategy that sounds boring but works:
👉 Mid-tier clients in the US & UK + niche domains + acquisitions when needed.

The result?

• 72% revenue from US & Europe
• Top 5 clients = ~46% revenue (concentration risk, yes)
• Offshore/Onsite mix ~55:45 (not ultra-margin sexy, but stable)

This is not a “10x story by next Holi” stock.
This is a “steady compounding with occasional panic sell-offs” stock.

But then came:

• Multiple acquisitions
• Management exits in FY26
• Stock price correction

So now everyone’s asking:
Is Saksoft digesting