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10 Yrs X-Ray 
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Trust Fintech Ltd (TRUST)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: TRUST IT - Software | Small Cap | Trust Fintech Share Price
BSE Share Price
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Trust Fintech Ltd (TRUST)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: TRUST IT - Software | Small Cap | Trust Fintech Share Price
BSE Share Price
Not Listed
Not Listed
Key Metrics
Valuation Multiples
Market Cap
₹66 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹3.3
TTM Sales
₹42.8 Cr.
Book Value per Share
₹42.6
P/E Ratio
8.38
Lower than its 5-year historical median
Industry PE
20.8
Price to Book (P/B)
0.65
Lower than its 5-year historical median
Price to Sales (P/S)
1.54
Lower than its 5-year historical median
EV/EBITDA
4.24
Lower than its 5-year historical median
Dividend Yield
INF%
Profitability Efficiency
Return on Equity (ROE)
11.55%
Outperforms industry median
Return on Capital Employed (ROCE)
16.22%
Outperforms industry median
Return on Assets (ROA)
9.42%
Operating Profit Margin
28.3%
Net Profit Margin
25.61%
Gross Profit Margin
42%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-10.79%
Operating Profit Growth (1 Year)
-
-49.83%
Net Profit Growth (1 Year)
-
-35.92%
Asset Quality
Promoter Holding
69.01%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹78 Cr.
Equity
₹23.8 Cr.
Face Value
₹10
All Time Low / High
₹0.00 / 0.00
Check Before You Invest
M-Cap below 100cr DeciZen not available
Is Trust Fintech Ltd a good quality company?
Trust Fintech Ltd is a quality company, based on a multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Trust Fintech Ltd performance compare with that of its Peers?
Revenue growth of Trust Fintech Ltd vs industry peers?
Trust Fintech Ltd revenue CAGR is %, compared to the industry median CAGR of 0%, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of Trust Fintech Ltd?
Promoters hold 69.01% of the Trust Fintech Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Trust Fintech Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -48.8% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Trust Fintech Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|
| ROCE % ⓘ | 22.3% | 12.4% | 30.7% | 59.7% | 17.5% | - |
| Value Creation Index ⓘ | 0.6 | -0.1 | 1.2 | 3.3 | 0.3 | - |
Growth Parameters ⓘ |
||||||
| Sales ⓘ | 24 | 17.6 | 22.5 | 35 | 31.3 | 42 |
| Sales YoY Gr. | - | -26.4% | 27.9% | 55.5% | -10.8% | - |
| Adj EPS ⓘ | 1.3 | 0.8 | 2.4 | 7.2 | 3.8 | 3.5 |
| YoY Gr. | - | -39.1% | 201.2% | 195.5% | -47.6% | - |
| BVPS (₹) ⓘ | 8.3 | 9.1 | 11.6 | 21.2 | 43 | 43 |
| Adj Net Profit ⓘ | 2.2 | 1.3 | 4 | 12.7 | 9 | 8 |
| Cash Flow from Ops. ⓘ | 4.8 | 0.2 | 0.8 | 12.7 | -37.8 | - |
| Debt/CF from Ops. ⓘ | -0.1 | 7.3 | 0 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 21% | -10.8% | ||||
| Adj EPS ⓘ | NA | NA | 67.1% | -47.6% | ||||
| BVPSⓘ | NA | NA | 67.6% | 103.4% | ||||
| Share Price | - | - | - | -48.8% | ||||
Key Financial Parameters ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 15.9 | 9.2 | 19.1 | 35 | 11.6 | 8 |
| Op. Profit Mgn % ⓘ | 12.1 | 11.1 | 24.5 | 50.9 | 31.3 | NAN |
| Net Profit Mgn % ⓘ | 9.2 | 7.6 | 17.9 | 36.1 | 28.8 | 19.7 |
| Debt to Equity ⓘ | -0 | 0.1 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 0 | 159 | 162 | 168 | 292 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 32 | 46 | 74 | 137 | 0 |
Valuation of Trust Fintech - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'24 | Mar'25 |
|---|---|---|
| Sales | 35.04 | 31.26 |
| Operating Expenses > ⓘ + | 17.40 | 22.41 |
| Operating Profit > ⓘ | 17.64 | 8.85 |
| Operating Profit Margin (%) | 50.3% | 28.3% |
| Other Income > ⓘ + | 0.44 | 4.38 |
| Interest > ⓘ | 0.16 | 0.10 |
| Depreciation > ⓘ | 1.23 | 1.96 |
| Profit Before Tax > ⓘ | 16.69 | 11.16 |
| Tax > ⓘ | 4.19 | 3.16 |
| Profit After Tax | 12.50 | 8.01 |
| PAT Margin (%) | 35.7% | 25.6% |
| Adjusted EPS (₹) | 7.1 | 3.4 |
| Dividend Payout Ratio (%) | 0% | 14.90% |
| PARTICULARS | Mar'24 | Mar'25 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 45.11 | 109.56 | |||||||||
| Debt + | 0.17 | 0 | |||||||||
| Minority Interest | 0 | -0.1 | |||||||||
| Trade Payables | 0.77 | 1.47 | |||||||||
| Others Liabilities ⓘ | 6.39 | 6.62 | |||||||||
| Total Liabilities ⓘ | 52.44 | 117.56 | |||||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 12.85 | 16.91 | |||||||||
| CWIP ⓘ | 8.34 | 15.94 | |||||||||
| Investments ⓘ | 7.94 | 53.86 | |||||||||
| Inventories | 0 | 2.06 | |||||||||
| Trade Receivables | 11.89 | 13.64 | |||||||||
| Cash Equivalents | 2.37 | 4.78 | |||||||||
| Others Assets ⓘ | 9.06 | 10.36 | |||||||||
| Total Assets ⓘ | 52.44 | 117.56 | |||||||||
| PARTICULARS | Mar'24 | Mar'25 |
|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 12.68 | -36.74 |
| Cash Flow From Investing Activity ⓘ + | -17.09 | -13.96 |
| Cash Flow From Financing Activity ⓘ + | 5.62 | 53.12 |
| Net Cash Flow ⓘ | 1.21 | 2.41 |
| PARTICULARS | Mar'24 | Mar'25 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 33.69 | 11.55 | ||||||||
| ROCE (%) | 45.19 | 16.22 | ||||||||
| Asset Turnover Ratio | 0.67 | 0.37 | ||||||||
| PAT to CFO Conversion(x) | 1.01 | -4.59 | ||||||||
| Working Capital Days | ||||||||||
| Receivable Days | 123.80 | 149.10 | ||||||||
| Inventory Days | 0 | 24.10 | ||||||||
| Payable Days | 0 | -198.70 | ||||||||
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Trust Fintech Ltd FAQs
The current trading price of Trust Fintech on 01-Jan-1970 05:30 is ₹0.00.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 31-Dec-1969 the market cap of Trust Fintech stood at ₹66.00 Cr
The latest P/E ratio of Trust Fintech as of 31-Dec-1969 is 8.03.
The latest P/B ratio of Trust Fintech as of 31-Dec-1969 is 0.64.
The 52-week high of Trust Fintech is ₹0.00 and the 52-week low is ₹0.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Trust Fintech is ₹41.78 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Trust Fintech Ltd is a below average quality company.
The key valuation ratios of Trust Fintech Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Trust Fintech Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Trust Fintech Ltd
Trust Fintech was originally incorporated on December 15, 1998 as a Private Limited Company as “Trust Systems and Software (India) Limited” vide under the provisions of the Companies Act, 1956 with the Registrar of Companies, Mumbai. Pursuant to a special resolution passed by the Shareholders at their Extra ordinary General Meeting held on September 16, 2023, the Company was converted from a Private Limited Company to Public Limited Company and consequently, the name of the Company was changed to ‘Trust Systems and Software (India) Limited’ and a Fresh Certificate of Incorporation consequent to Conversion was issued on September 29, 2023 by the Registrar of Companies, Mumbai. Further, pursuant to special resolution passed by the Shareholders at their Extra Ordinary General Meeting held on November 22, 2023, the company has changed its name from “Trust Systems and Software (India) Limited” to “Trust Fintech Limited” and a fresh certificate of incorporation consequent to name change was issued on December 14, 2023 by the Registrar of Companies, Mumbai.
Trust Fintech is a Nagpur based SaaS Product focused company which has carved a niche in providing Core Banking Software, IT Solutions, ERP Implementation and Customized Software Solutions Development, SAP B1 and Offshore IT services for the BFSI sector. TFL was founded by Hemant Chafale, Heramb Ramkrishna, Mandar Kishor Deo with a focus on delivering secured core banking solutions & world-class technology solutions to a virtually integrated banking and financial eco-system. The company has evolved in the last 25 years and adapted to the technological and market shifts to reach the current business model and product version.
The company is consistently expanding its business footprints in India and Globally by adapting to ever-changing regulatory compliances for the global BFSI sector. It has invested in developing more than 10 banking related products for Commercial and Cooperative Banks and Financial Institutions, which comprise Core Banking Software, Loan Origination software, GST compliance software, Financial Accounting & Billing Software, GST Suvidha provider, SAP B1 Services (for Implementation, Support and Add-on Development), Various add-on modules for Statutory Report Generation, ATM Reconciliation, Anti-Money Laundering, Agency Banking, Mobile Banking leveraging end to end solutions to address the evolving needs of banking Solutions. Since it provides banking solutions, therefore all the product solutions are built by keeping in mind the RBI compliance requirements, which the banks have to follow and also the product is designed in configurable architect, which gives the flexibility to incorporate the changes which may be required to be complied by the banks, pursuant to the change in the policy and compliances as notified by the RBI.
Business area of the company
Trust Fintech is a Nagpur based SaaS Product focused company which has carved a niche in providing Core Banking Software, IT Solutions, ERP Implementation and Customized Software Solutions Development, SAP B1 and Offshore IT services for the BFSI sector
History and milestones
- 1999: Incorporation of the Company as a Private Limited Company with the name of “Trust Systems and Software (India) Private Limited” with the vision of delivering world-class technology solutions to a virtually integrated business community.
- 2003: Developed ERP (Power Plant Monitoring system PPMS). Implemented all power plants at head office of Maharashtra State Electricity Distribution Company Limited.
- 2003: Empanelled with Government of Maharashtra as IT service Provider for state wise computerization.
- 2007: TrustBank CBS Version 1 Core Banking solution SQL Server 2008 & ASP.net partnered with SAP for its product SAP B1.
- 2013: Ranked among Top Core banking solution provider Globally 2015 CRISIL rated company for “High Performance capability and High Financial Strength (2A)” 2015 Empanelled by NeGD as agency for Integration of different Applications with e- Governance system for Digi-locker system.
- 2017: Empanelled by Government of India as a GSP (Goods and Services Tax Suvidha Provider) 2017 Launched Soft GST product specially designed for Banks for GST Compliances.
- 2017: Launched Mobile app and internet banking app for Bank’s customers.
- 2020: ISO 27001 Certified Company
- 2021: Trust Bank CBS Version pro 7 Core Banking solution SQL Server 2019 & ASP.net, C#, Java Script.
- 2021: Launched LOS (Loan Origination software SAAS basis for banks).
- 2021: Microsoft Gold Partner As a “Independent Software vendor” 2021 CMMI level 5 Certified company.
- 2022: Empanelment of Fintech with Union Bank of India for Development, Customization & Maintenance of new Software applications.
- 2022: Certificate of appreciation from The Central Board of Indirect Taxes and Customs for prompt fillings of return and payment of Goods and services tax.
- 2023: Launched NPA recovery management, audit and compliance module 2023 Received order from USA for implementation of CBS in credit union
- 2023: Empanelled vendor of NAFCUB to provide CBS and all other related services to urban cooperative Banks.
- 2023: Converted to Public Limited Company - consequently the name of the company was changed to ‘Trust Systems and Software (India) Limited’
- 2023: Change in the name of company from “Trust Systems and Software (India) Limited” to “Trust Fintech Limited”.
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