IT stock hits 10% lower circuit after reporting disappointing Q3 results; Check the details

Synopsis: Atishay plunged sharply after the company reported that its YoY revenue grew by just 1.5%, whereas QoQ it declined by 14%, which also weighed down its profitability, where it declined by 10% YoY.

The shares of this IT Consultancy and Services company, engaged in customised software solutions for businesses, are in focus after the company reported its results for the third quarter of this financial year. In this article, we will dive more into the details of it.

With a market capitalisation of Rs 208 crore, the shares of Atishay Ltd made a day low at Rs 188.95 per share (lower circuit), down 10 percent from its previous day’s closing price of Rs 209.90 per share. Over the past five years, the stock has delivered a robust return of 419 percent, outperforming NIFTY 50’s return of 77 percent.

Q3 Highlights

The revenue from operations for Atishay stands at Rs 15.45 crores in Q3 FY26 compared to Q3 FY25 revenue of Rs 15.22 crores, up slightly by 1.5 per cent YoY. However, on a QoQ basis, it reported a decline of 14 percent from Rs 17.95 crore. 

Also, operating profit (EBITDA) stood at Rs 2.60 crores in Q3 FY26 compared to Q3 FY25 EBITDA of Rs 2.91 crores, down by 11 per cent YoY. However, on a QoQ basis, it reported a slight growth of 0.4 percent from Rs 2.59 crore. Additionally, its operating margins declined by 229 bps to 16.83 percent in Q3 FY26.

Regarding its revenue split, the company derived Rs 12.67 crore of its sales from the E-governance segment, which declined by 3 percent YoY and by 20 percent QoQ. And, it derived the remaining Rs 2.78 crore of sales from retail & other services, which grew by 29 percent YoY and by 26 percent QoQ.

Coming down to its profitability, the company’s net profit stood at Rs 1.89 crore in Q3 FY26, down from Rs 2.11 crore in Q3 FY25, which is a decline of 10 percent YoY. However, on a QoQ basis, it reported a slight growth of 3 percent from Rs 1.83 crore.

Recent and Other highlights

Atishay Limited also informed that it secured a work order worth Rs. 3.77 Crores from the Department of Prohibition, Excise and Registration in Bihar. It involves digitising old registration records stored in record rooms at two sites, namely Purniya, with documents from 1908 to 1959, and Madhubani, with records dating from 1908 to 1984. This involves about 29 lakh documents in total. The project must be executed within 180 days. 

Atishay Limited was founded in 2000 and is based in Mumbai. They are an Indian IT software and consulting company focused on creating custom technology solutions, managing databases, overseeing e-governance projects, and delivering fintech services. With over 25 years in the industry, Atishay has become a trusted partner for government agencies and banks throughout India, providing technology that effectively meets their requirements.

One of their key offerings is Zapurse, a fintech platform designed to simplify banking, bill payments, micro-ATM operations, and Aadhaar-enabled services, making digital finance more accessible to a wider audience. They have completed 77 projects and are currently partnered with around 10,500 agents and outlets. Their operations span more than 13 regions across India, serving approximately 4.6 million users.

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