CapitalNumbers Infotech Limited
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Briefing
CapitalNumbers Infotech Limited — the brief
Forensic posture: Routine flags. The auditor gave an unqualified clean bill, contingent liabilities are zero, but the company routes 41% of revenue through a single US subsidiary and shows weak fundamental momentum (only 2 of 7 quality checks passing), though earnings quality composite sits at a middling 65.
Auditor’s report (CARO 2020)
Auditor’s assessment Clean. Auditor: Satyanarayanе Goyal & Co. LLP. Opinion: Unqualified. Fiscal year FY24-25.
Related-party transactions
Assessment Notable. Disclosed volume of ₹46 Cr across 7 related parties. Fiscal year FY24-25.
- Majority Revenue Routed Through Single US Subsidiary: Capital Numbers LLC (100% wholly-owned US subsidiary) accounts for ₹4,120.51 Lacs (~41.21 Cr) in service sales during FY25, representing ~41% of standalone total revenue of ₹9,972.52 Lacs, with a year-end receivable of ₹353.00 Lacs outstand
Contingent liabilities
Assessment Routine. Total disclosed: ₹0 Cr (0.0% of net worth). Fiscal year FY24-25.
Corporate governance
Board of 6 directors, 50% independent. Chair: Neha Nimesh Shah. Chair and CEO roles are separated. Statutory auditor: Satyanarayyan Goyal & Co LLP. Board remuneration: 4.2% of net profit. Fiscal year FY24-25.
“Capital Numbers LLC | Subsidiary | Sale of services | 4,120.51 | 353.00”
What retail misses·The company's revenue is heavily concentrated in a single related-party US subsidiary (Capital Numbers LLC accounts for ₹41.21 Cr of the ₹99.73 Cr total), and the fundamental quality score of 2/7 shows deteriorating operational metrics — neither of these would surface in a quick news scroll or stock-screener headline.
Strengths noted in disclosures: Auditor issued unqualified opinion with zero high, material, or minor flags — disclosures are clean. · No contingent liabilities on the balance sheet (₹0 Cr against net worth of ₹156.89 Cr) — no hidden tax disputes, litigation, or guarantees. · Top-decile profitability margin per academic analysis, indicating the business itself generates strong unit economics despite weak momentum.
Forensic signal
From the company's own filingsStrong: Valuation · Weak: Momentum · Size