Sigma Solve Ltd (SIGMA) AI Stock Analysis

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Sigma Solve Ltd

(NSE:SIGMA)

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Rating:69.5Neutral

Price Target:INR 50.00▲(12.97% Upside)

Action:downgraded

Date:11/04/26

The company's rock-solid balance sheet and strong cash flow generation are the primary strengths, supporting a high financial performance score. However, the stock's weak technical momentum, with the price trading below key moving averages and a negative MACD, significantly drags down the overall score. A reasonable valuation provides some support, but the current technical weakness is a major counterbalance to the strong fundamentals.

Positive Factors

Revenue ScalingMulti-year revenue expansion demonstrates that the company has materially increased its business scale while retaining positive growth in 2026. Continued top-line progress can broaden its earnings base, support operating investment, and reinforce its competitive position over the next several quarters.

Negative Factors

Margin CompressionLower gross and operating margins versus earlier peaks indicate that profitability has not expanded in line with revenue and may reflect rising costs or a less favorable mix. If this persists, it could limit earnings growth and reduce the benefit of continued top-line expansion.

Sigma Solve Ltd (SIGMA) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 4.53B
Dividend Yield: 1.13%
Average Volume (3M): 14.85K
Price to Earnings (P/E): 14.5
Beta (1Y): 1.08
Revenue Growth: 7.23%
EPS Growth: 37.47%
Country: India
Employees: 216
Sector: General
Sector Strength: 55
Industry: Information Technology Services

Sigma Solve Ltd Business Overview & Revenue Model

Company Description

Sigma Solve Limited, an Indian company headquartered in Ahmedabad, specializes in developing enterprise software solutions. The firm delivers extensive information technology and IT-enabled services, in addition to providing full-spectrum consultancy...

Sigma Solve Ltd Financial Statement Overview

Summary

Strong overall financial health. The balance sheet is exceptional with minimal debt and high ROE. Income statement shows robust revenue growth and stable net margins, though declining gross margins are a minor concern. Cash flow generation is healthy with near 100% FCF conversion.

Income Statement

78Positive

Balance Sheet

92Very Positive

Cash Flow

82Very Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	958.20M	956.17M	761.72M	650.54M	558.42M	410.92M
Gross Profit	437.87M	418.27M	358.95M	299.33M	295.88M	258.49M
EBITDA	327.87M	328.35M	271.41M	266.20M	240.76M	163.70M
Net Income	314.52M	238.77M	190.90M	161.37M	117.66M	89.61M
Balance Sheet
Total Assets	1.10B	892.23M	615.06M	400.02M	631.20M	366.01M
Cash, Cash Equivalents and Short-Term Investments	128.46M	103.34M	120.66M	81.46M	63.88M	283.05M
Total Debt	15.82M	20.13M	36.54M	48.37M	38.70M	4.23M
Total Liabilities	176.12M	121.29M	120.79M	97.84M	113.79M	25.10M
Stockholders Equity	922.00M	770.68M	494.25M	302.18M	341.75M	229.35M
Cash Flow
Free Cash Flow	0	311.92M	178.08M	59.61M	127.12M	163.37M
Operating Cash Flow	0	313.86M	180.08M	73.97M	197.42M	164.47M
Investing Cash Flow	0	-229.41M	-207.31M	365.22M	-122.32M	-145.86M
Financing Cash Flow	0	-22.09M	-21.01M	-411.99M	32.31M	-10.01M

Sigma Solve Ltd Technical Analysis

Technical Analysis SentimentPositive

Last Price44.26

Price Trends

50DMA44.24Positive

100DMA43.20Positive

200DMA42.81Positive

Market Momentum

MACD-0.13Negative

RSI54.37Neutral

STOCH55.41Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SIGMA, the sentiment is Positive. The current price of 44.26 is above the 20-day moving average (MA) of 42.48, above the 50-day MA of 44.24, and above the 200-day MA of 42.81, indicating a bullish trend. The MACD of -0.13 indicates Negative momentum. The RSI at 54.37 is Neutral, neither overbought nor oversold. The STOCH value of 55.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SIGMA.

Sigma Solve Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:SIGMA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:ONWARDTEC	70Outperform	INR 8.38B	17.86	―	2.12%	13.11%	18.12%
IN:SIGMA	70Neutral	INR 4.55B	14.46	―	1.13%	7.23%	37.47%
IN:INSPIRISYS	69Neutral	INR 3.45B	9.24	―	―	23.30%	-5.56%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:CYBERTECH	55Neutral	INR 3.84B	12.29	―	18.90%	10.49%	-9.67%
IN:3IINFOLTD	44Neutral	INR 4.29B	19.37	―	―	-0.84%	-79.45%
IN:DIGISPICE	39Underperform	INR 3.93B	17.62	―	―	-7.42%	―

* General Sector Average

Performance Comparison

IN:SIGMA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:SIGMA	Sigma Solve Ltd	44.26	-6.88	-13.45%
IN:3IINFOLTD	3i Infotech Limited	20.69	2.97	16.76%
IN:CYBERTECH	CyberTech Systems & Software Ltd.	126.50	-21.70	-14.64%
IN:DIGISPICE	DiGiSPICE Technologies Ltd.	16.75	-7.12	-29.83%
IN:INSPIRISYS	lnspirisys Solutions Limited	87.04	-14.25	-14.07%
IN:ONWARDTEC	Onward Technologies Limited	376.60	96.58	34.49%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 04, 2026

Sigma Solve Ltd AI Stock Analysis