On 6 Nov 2026, Dove Soft was priced at ₹95.00, or 10.1× trailing earnings, against an industry P/E of 18.5×, and the shares are 14% below their 52-week high. Sales and net profit grew 55% and 70% a year over 3 years, with ROCE of 34% and ROE of 30%. Debt is 0.10× equity. It is listed on an SME platform with a market cap of ₹232 Cr, ranked 13th of 20 Telecom Services companies by market cap; the shares fell 9.4% over the past year.
- ₹97.00
- ₹98.00
- ₹95.00
- ₹98.00
- 1.6 L
Health check
- ReturnsIn line
−9.4% over a year, better than 3 of 7 peers.
- Price tagCheaper
P/E 10.1 vs industry 18.5.
- GrowthStrong
Sales +55.1%, profit +69.7% a year over 3 years.
- ProfitabilityStrong
ROCE 33.8% vs peer median 18.6%.
- Balance sheetFair
Debt 0.10× equity, interest covered 26.0×, Piotroski 4 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹232 Cr
- Small cap
- P/E
- 10.1
- Industry 18.5
- Price to book
- 2.03
- Peers 3.27
- Dividend yield
- 0.00%
- ROE
- 29.8%
- Peers 20.2%
- ROCE
- 33.8%
- Peers 18.6%
- Debt to equity
- 0.10
- Debt ₹9.30 Cr
- EPS (TTM)
- ₹9.39
- OPM (TTM)
- 11.0%
- Net margin 8.4%
- Sales growth
- +77.3%
- Latest quarter vs a year ago
- Profit growth
- +87.2%
- Latest quarter vs a year ago
- Price to sales
- 0.85
- EV/EBITDA 5.8
Strengths and risks
Strengths
- Return on equity of 29.8%.
- Return on capital employed of 33.8%.
- Quarterly profit up 87.2% on a year ago.
- Quarterly sales up 77.3% on a year ago.
- P/E of 10.1 against an industry P/E of 18.5.
About Dove Soft
Dove Soft Limited develops a cloud-based communications platform as a service solution. Its solution offers transactional SMS, messaging solutions, voice services, automated voice call solutions, email communication, and various digital products. The company primarily serves telecom, information technology, travel and tourism, entertainment, media, advertising and events, retail, real estate, healthcare and cosmetics, banking, financial services and…
- Headquarters
- Mumbai
- Employees
- 92
- Sector
- Communication Services
- ISIN
- INE0NXJ01016
- Website
- dovesoft.io
Price range
- Avg volume (3M)
- 2.4 L
- 1-year return
- minus 9.4%
- From 52-week high
- minus 14.4%
Peers · Telecom Services
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHARTIARTLBharti Airtel | 2,107.20 | plus 2.45% | 13,15,371 | 41.5 | 12.1 | 16.7% | 57.1% | 1.00 | 14.9% | minus 2.7% |
| IDEAVodafone Idea | 12.76 | minus 1.01% | 1,38,246 | 3.7 | 17.1 | 36.9% | 42.7% | – | 2.1% | plus 37.0% |
| INDUSTOWERIndus Towers | 383.10 | minus 0.03% | 1,01,061 | 14.2 | 6.4 | 18.4% | 54.6% | 0.56 | 4.6% | minus 2.4% |
| BHARTIHEXABharti Hexacom | 1,664.40 | minus 2.01% | 83,220 | 42.3 | 17.3 | 21.1% | 52.9% | 0.86 | 12.4% | minus 9.3% |
| TATACOMMTata Communications | 1,704.80 | minus 0.52% | 48,601 | 44.1 | 12.3 | 15.3% | 19.9% | 3.71 | 11.6% | minus 10.1% |
| TTMLTata Teleservices (Maharashtra) | 39.77 | plus 12.57% | 7,775 | 26.0 | 43.1 | – | 55.0% | – | 1.5% | minus 36.3% |
| RAILTELRailtel Corporation Of India | 241.05 | minus 0.16% | 7,736 | 22.8 | 11.0 | 18.7% | 14.6% | 0.03 | 29.8% | minus 33.7% |
| DSLDove Soft | 95.00 | minus 3.06% | 232 | 10.1 | 7.1 | 33.8% | 11.0% | 0.10 | 55.1% | minus 9.4% |
| Median of 7 peers | – | −0.16% | 83,220 | 26.0 | 12.3 | 18.6% | 52.9% | 0.86 | 11.6% | −9.3% |
Quarterly results
| ₹ Cr | Mar 26 |
|---|---|
| 94.5 | |
| 83.5 | |
| 11 | |
| 11.7% | |
| 0.2 | |
| 0.4 | |
| 0.6 | |
| −0 | |
| 10.3 | |
| 22.2% | |
| 7.9 |
Profit & loss
- Sales CAGR 3Y
- +55.1%
- Profit CAGR 3Y
- +69.7%
- EPS CAGR 3Y
- +69.7%
- ROE
- 29.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 73.5 | 120 | 188 | 274 | |
| – | +63.0% | +56.8% | +45.9% | |
| 65.1 | 105 | 163 | 240 | |
| 8.4 | 15 | 24.4 | 33.7 | |
| 11.4% | 12.5% | 13.0% | 12.3% | |
| −0.2 | −0 | 0.1 | 0.3 | |
| 0.9 | 0.3 | 1 | 1.2 | |
| 1.1 | 0.8 | 1.3 | 2.1 | |
| 0.2 | −0.2 | −0 | −0.5 | |
| 6.5 | 13.7 | 22.2 | 30.2 | |
| 25.5% | 25.2% | 25.5% | 22.6% | |
| 4.7 | 10.1 | 16.2 | 22.9 | |
| – | +116.1% | +59.7% | +41.7% | |
| 1.92 | 4.15 | 6.63 | 9.39 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 18.1 | 18.1 | 19.1 | 19.1 | |
| 4.7 | 14.8 | 47 | 70.2 | |
| 3.8 | 3.3 | 8.9 | 9.3 | |
| 20 | 49.4 | 34 | 65.9 | |
| 46.5 | 85.6 | 109 | 164 | |
| 9.1 | 8.7 | 3.1 | 2.2 | |
| 7.6 | 7.6 | – | – | |
| 0 | 0 | 10.2 | 9.8 | |
| 1.2 | 0.2 | 1.3 | 1.7 | |
| 28.6 | 69 | 94.5 | 151 | |
| 46.5 | 85.6 | 109 | 164 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.4 | 0.3 | −17.5 | 4.3 | |
| −7.8 | 0.5 | −3.1 | −3.3 | |
| 7.5 | −0.8 | 21.7 | −0.9 | |
| −0 | 0.1 | 1.1 | 0.2 | |
| −10.2 | −1.6 | −5.4 | −3.8 | |
| −9.8 | −1.3 | −22.9 | 0.5 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.