Financial Overview FY2025

For the financial year ending March 31, 2024 (FY2024), Capgemini Technology Services India Ltd reported consolidated total income of ₹287,497 million (₹28,750 crore), a slight decline of 1.1% compared to ₹290,667 million in FY2023. Revenue from operations stood at ₹277,860 million (₹27,786 crore), down from ₹285,265 million the previous year. Despite the marginal revenue dip, the company maintained strong profitability with a profit after tax (PAT) of ₹32,459 million (₹3,246 crore), slightly lower than ₹32,766 million in FY2023.

The company’s EBITDA remained robust, supported by operational efficiencies and disciplined cost management. Key financial ratios for FY2024 reflect solid financial health:

• Current ratio improved to 4.87 (from 4.46), indicating strong liquidity.

• Debt-equity ratio remained very low at 0.04, confirming minimal reliance on debt.

• Return on equity (ROE) stood at 16.19%, and return on capital employed (ROCE) was 19.24%, demonstrating effective capital utilization.

Cash and cash equivalents increased significantly to ₹17,724 million from ₹9,661 million in FY2023, driven by strong operating cash flows of ₹36,871 million, up from ₹33,729 million the prior year. This enhanced liquidity supports ongoing investments in digital transformation, cloud, and automation services.

In Q1 FY2025, Capgemini technology global revenues were €5,553 million, with a limited decline of 0.4% at constant currency, reflecting resilience amid macroeconomic challenges. The company continues to focus on expanding its digital services portfolio and strengthening client relationships.

Overall, Capgemini Technology Services India Ltd maintains a healthy balance sheet, consistent profitability, and strong cash flows. While FY2024 saw a slight revenue contraction, the company’s strategic investments and operational discipline position it well for sustainable growth in FY2025 and beyond, supported by rising global demand for IT and digital transformation services.

Why Invest in Capgemini Technology Services India Ltd?

Capgemini Technology Services India Ltd offers investors a rare opportunity to participate in a global IT leader’s Indian growth story through unlisted equity. As the Indian subsidiary of Capgemini SE (France), the company serves as a major offshore delivery center, employing over 170,000 professionals and supporting global Fortune 500 clients. Despite recent macroeconomic challenges, Capgemini India maintains strong revenue, profitability, and cash reserves. With increasing demand for digital transformation, cloud, AI, and cybersecurity solutions, Capgemini India is strategically positioned for long-term growth. Its consistent dividend payouts, low debt, and strong financial ratios make it one of the most stable and rewarding unlisted tech investments in India.

 Benefits of Investing in Capgemini Technology

1. Global Brand Support
   Backed by Capgemini SE, a Fortune 500 firm, ensuring global governance, credibility, and access to top-tier international contracts and clients.

2. Consistent Profitability
   Year-over-year profits maintained through operational efficiency, cost discipline, and diversified service offerings across digital, cloud, and consulting domains.

3. Strong Dividend History
   Regular dividend payouts reflect financial strength and provide stable passive income for investors seeking long-term value from unlisted shares.

4. Large Indian Workforce
   170,000+ employees in India make it the backbone of Capgemini’s global delivery, enhancing scalability and cost efficiency across operations.

5. Debt-Free Company
   Minimal reliance on debt (0.04 ratio) enhances financial flexibility, reduces risk, and improves investor confidence in sustainable returns.

6. Solid Cash Flow
   Operating cash flows over ₹3,600 crore support future investments, dividend payouts, and buffer against economic volatility.

7. Robust Client Base
   Serves Fortune 500 companies across sectors, ensuring recurring revenue, long-term contracts, and industry diversification for business stability.

8. Digital Transformation Focus
   Strategic investments in AI, cloud, and automation ensure the company remains future-ready in the evolving global tech environment.

9. Attractive Pre-IPO Entry
   Investing now offers early-stage access at lower valuations before any future IPO, with strong exit potential.

10. Strong Financial Ratios
    High ROE and ROCE showcase effective capital utilization, financial discipline, and optimized operational performance.

11. Stable Growth in Unlisted Market
    Capgemini shares have appreciated steadily in the unlisted space due to investor trust and financial resilience.

12. Strategic Global Acquisitions
    Acquisitions like IGATE, Altran, and LiquidHub strengthen digital capabilities and open new revenue streams through integration and synergy.

Business Segments

Capgemini Technology Services India operates across a wide range of business segments that mirror the global structure of Capgemini SE. The key divisions include:

• Application Services: Designing, building, and managing custom and enterprise applications for clients across sectors like banking, insurance, and manufacturing.

• Infrastructure and Cloud Services: Providing cloud migration, cloud-native development, and managed infrastructure services, including partnerships with AWS, Azure, and Google Cloud.

• Business Services (BPO): Offering finance & accounting, procurement, HR outsourcing, and analytics through Capgemini’s BPO units, backed by automation and AI.

• Engineering and R&D Services: Delivering digital engineering solutions, embedded systems, product lifecycle management, and Industry 4.0 solutions.

• Data and AI: Leveraging big data, machine learning, and AI technologies to drive analytics-driven decision-making for clients.

• Cybersecurity Services: Offering cybersecurity consulting, governance, risk management, and incident response services.

Subsidiaries and Group Companies (200 words)

Capgemini Technology Services India Ltd is part of the global Capgemini Group, which includes several subsidiaries and acquired entities that support the company’s growth and diversification strategy.

In India, the company has integrated various entities like:

• IGATE Global Solutions: Acquired in 2015, now a fully merged part of Capgemini India.

• LiquidHub India: Specialized in customer engagement and digital marketing.

• Altran India: Engineering services firm acquired globally and now integrated into Capgemini Engineering vertical.

• Sogeti: Though a European entity, its services and talent are coordinated globally including India.

Globally, Capgemini has group companies such as:

• Capgemini Invent: The innovation, consulting, and transformation brand.

• Capgemini Engineering: Focused on R&D and product engineering services.

• Capgemini Financial Services: Specializing in banking and capital markets technology.

• Cambridge Consultants: Acquired to bolster deep-tech innovation capabilities.

Expert Opinion (300 words)

Capgemini Technology Services India Limited stands out as one of the strongest players in the unlisted tech investment landscape. Backed by Capgemini SE’s global legacy and financial strength, the Indian subsidiary not only acts as a delivery arm but also functions as a strategic innovation hub for the parent organization. With over 170,000 employees in India, the company contributes close to 50% of Capgemini’s global workforce, making India an indispensable geography in its operations.

From an investor’s lens, this company exhibits nearly every indicator of a strong long-term bet: consistent revenues, rising profit margins, no debt, and an excellent track record of dividend payouts. While it remains unlisted, the valuation of its shares has shown appreciation due to growing investor confidence and increasing institutional interest in quality unlisted tech firms.

Capgemini’s diversified service offerings, including cloud, AI, analytics, and cybersecurity, align well with the future of enterprise technology. The company is future-ready, with strong digital capabilities, deep domain knowledge, and a proactive approach to acquisitions and partnerships.

Furthermore, the absence of immediate IPO plans gives pre-IPO investors ample time to enter at attractive valuations. Capgemini India serves as a benchmark of operational excellence in the IT unlisted space, and for investors looking for stable, large-scale exposure in technology, this is arguably one of the best-positioned bets available in India’s private market.