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VL E-Governance & IT Solutions Ltd.
(VLEGOV)
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Rating:41Neutral
Price Target:
₹10.50
▲(3.75% Upside)
Action:Reiterated
Date:08/17/26
The score is held down primarily by deteriorating fundamentals—recent-year losses and significant operating/free-cash-flow burn—despite a relatively unlevered balance sheet. Technical indicators reinforce the risk profile with a clear downtrend and weak momentum. Valuation provides limited support because the company is loss-making (negative P/E) and no dividend yield is available.
Positive Factors
Debt-Free Balance Sheet
Zero reported debt and positive equity provide financial flexibility and reduce interest-related pressure. This balance-sheet resilience may help the company sustain operations while it addresses weak profitability and cash generation.
Negative Factors
Persistent Recent Losses
Recurring losses indicate that the current operating model is not converting activity into sustainable earnings. Unless margins and cost control improve, continued losses could weaken equity quality and constrain investment in growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-Free Balance Sheet
Zero reported debt and positive equity provide financial flexibility and reduce interest-related pressure. This balance-sheet resilience may help the company sustain operations while it addresses weak profitability and cash generation.
Read all positive factors
VL E-Governance & IT Solutions Ltd. (VLEGOV) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.12B
Dividend YieldN/A
Average Volume (3M)18.44K
Price to Earnings (P/E)―
Beta (1Y)2.25
Revenue Growth-73.73%
EPS Growth99.90%
CountryIN
Employees8
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)-0.10
Shares Outstanding108,451,330
10 Day Avg. Volume17,893
30 Day Avg. Volume18,439
Financial Highlights & Ratios
PEG Ratio0.86
Price to Book (P/B)2.19
Price to Sales (P/S)5.69
P/FCF Ratio-2.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
VL E-Governance & IT Solutions Ltd. Business Overview & Revenue Model
Company Description
Headquartered in Mumbai, India, and founded in 2016, VL E-Governance & IT Solutions Limited specializes in delivering system integration and IT-enabled services for e-governance initiatives across India. The company's operations are divided into t...
How the Company Makes Money
Revenue is generated primarily by enabling and facilitating transactions for services delivered through its assisted service network and related IT enablement. Key monetization mechanisms generally include: (1) service/transaction fees or commissi...
VL E-Governance & IT Solutions Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
12
Very Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 18.34M | 171.54M | 306.89M | 220.11M | 7.30B | 5.85B |
| Gross Profit | -6.72M | -4.78M | 22.11M | -24.28M | 329.40M | 1.49B |
| EBITDA | -11.62M | -9.67M | -25.17B | -80.71M | 53.42M | 1.37B |
| Net Income | -11.61M | -11.31M | -25.17B | -1.70B | 58.86M | 1.03B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 471.98M | 484.83M | 25.17B | 26.99B | 26.52B |
| Cash, Cash Equivalents and Short-Term Investments | 31.58M | 31.58M | 455.31M | 682.00K | 227.00K | 451.00K |
| Total Debt | 0.00 | 0.00 | 0.00 | 510.89M | 536.75M | 0.00 |
| Total Liabilities | -445.66M | 26.32M | 27.87M | 687.26M | 805.68M | 392.90M |
| Stockholders Equity | 445.66M | 445.66M | 456.97M | 24.48B | 26.18B | 26.12B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -423.21M | -601.27M | 22.00M | -564.85M | 261.35M |
| Operating Cash Flow | 0.00 | -421.84M | -601.27M | 22.03M | -564.85M | 261.35M |
| Investing Cash Flow | 0.00 | -2.74M | -6.84M | 4.28M | 27.73M | -265.75M |
| Financing Cash Flow | 0.00 | 0.00 | 632.22M | -25.86M | 536.75M | 0.00 |
VL E-Governance & IT Solutions Ltd. Technical Analysis
Negative
10.12
Price Trends
10.64
Negative
12.16
Negative
14.23
Negative
Market Momentum
-0.11
Positive
47.62
Neutral
38.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VLEGOV, the sentiment is Negative. The current price of 10.12 is below the 20-day moving average (MA) of 10.47, below the 50-day MA of 10.64, and below the 200-day MA of 14.23, indicating a bearish trend. The MACD of -0.11 indicates Positive momentum. The RSI at 47.62 is Neutral, neither overbought nor oversold. The STOCH value of 38.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:VLEGOV.
VL E-Governance & IT Solutions Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹26.20B | 10.77 | ― | 6.16% | 17.72% | -36.14% | |
64 Neutral | ₹115.28B | 39.77 | ― | 0.52% | 9.23% | 15.83% | |
63 Neutral | ₹315.62B | 338.06 | ― | ― | 23.10% | -53.19% | |
57 Neutral | ₹16.72B | 60.41 | ― | 3.82% | -86.94% | ― | |
56 Neutral | ₹38.47B | 104.44 | ― | 0.64% | 16.93% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
41 Neutral | ₹1.12B | -46.88 | ― | ― | -73.73% | 99.90% |
* General Sector Average
IN:VLEGOV
VL E-Governance & IT Solutions Ltd.
10.26
-25.17
-71.04%
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9.50%
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.