META INFOTECH LIMITED (METAINFO) share price
₹77.53 on BSE as of 2026-10-07. +0.85% on the day. market cap ₹146 Cr. P/E 13.2. 52-week range ₹53.73 to ₹156.40. Information Technology.
Meta Infotech FY26: Record ₹270 Cr Revenue, and a Profit Line That Walked Out the Back Door
At a glance
Meta Infotech resells cybersecurity software built by other companies, and installs and runs it for Indian firms. The twelve months to March 2026 brought the company its largest sales figure and its smallest profit in three years.
Sales reached ₹270 crore, against ₹219 crore a year earlier. That is a rise of 23%. Net profit went the other way, at ₹10.9 crore against ₹14.5 crore. That is a fall of 24%. Operating profit, the profit from trading before interest and tax, fell from ₹25 crore to ₹18 crore. The top line grew by about a quarter and the bottom line shrank by about a quarter, a tidy piece of symmetry.
Two lines on the balance sheet moved further than anything in the profit statement. Trade receivables, money billed to customers but not yet collected, rose from ₹22 crore to ₹56 crore. Inventory rose from ₹4.7 crore to ₹21.8 crore.
Operating cash flow, the cash a business takes in from trading, was negative for a third year running. It stood at minus ₹4.7 crore. The company reported a profit in each of those three years.
Management described the period as an investment year, under the label "Meta 2.0". The sales figure for the year is the highest the company has recorded. Sales have compounded at 45% a year over five years.
Introduction
Meta Infotech was incorporated in 1998 and, by its own account, moved decisively into cybersecurity around 2010.
The company does not write security software of its own. It is an authorised reseller for global OEMs, the vendors that own the products. It buys their licences and sells them on to Indian enterprises. Around that resale it sells implementation, support and managed services. Managed services means running the software day to day for the customer.
The twelve months to March 2026 were the company's first full year as a listed company. It debuted on the BSE SME platform on 11 July 2025. That platform is the Bombay Stock Exchange's segment for smaller companies. Sales for the year came to ₹270 crore.
A good deal of furniture moved around during those twelve months. Ambrish Deshpande joined as Chief Operating Officer in October 2025. In January 2026 he was re-designated Chief Operating Officer and Chief Revenue Officer. An employee stock option scheme reserved up to 944,070 options for him. Employee stock options are rights to buy shares in the company at a later date. The reserved options are about 5% of paid-up capital, which is the share capital already issued.
Komal Toshniwal, the Company Secretary, resigned on 31 March 2026. Mansi Sheth was appointed the following day. The company also took an operational office on rent in Noida, covering Delhi and the National Capital Region.
Management's own label for the period was "Meta 2.0", and management called it an investment year. In an investment year, costs are recorded in the period in which they are spent. Any return those costs produce arrives in later periods. Operating profit for the twelve months to March 2026 was ₹18 crore.
Business model
Meta buys cybersecurity licences from global vendors and sells them on to Indian enterprises. It then charges separately to install the software and keep it running. Those two activities are the whole engine, and the services are sold around the same products it resells.
In the twelve months to March 2025, about 84% of revenue came from the sale of products. Sale of products here means reselling licences. About 16% came from services.
The catalogue is long, and reads rather like the exhibitor list at a security conference. It covers secure access service edge, database security, endpoint detection and cloud security. It also covers identity, application programming interface security, email security and SIEM. Secure access service edge, or SASE, delivers network access and security controls together as one subscribed service. SIEM, security information and event management, gathers alerts from across a network into one place. SASE alone was about 61% of revenue in the twelve months to March 2024.
Under each of those headings sits software written by somebody else. Zscaler, Imperva, CrowdStrike and Palo Alto are among the vendors. Meta sits in the middle as the authorised layer.
Margin is the awkward arithmetic of reselling. Management puts gross margin on products at roughly 8 to 8.5%. Gross margin is what is left of a sale after the direct cost of the thing sold. Management puts the margin on services above 50%.
The stated plan follows the gap between those two figures. Services were about 13% of revenue in that year. Management's stated ambition is a services share of 20 to 30%.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for META INFOTECH LIMITED.
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