Capitalnumbers Infotech Ltd

Deal overview

• Capital Numbers completed 100% acquisition of Epitome Cloud Inc., New Jersey.
• Transaction valued at ₹40 crore.
• Epitome Cloud adds Salesforce, Revenue Cloud, CPQ, CLM and enterprise workflow platforms.
• Anand Varanasi, CEO of Epitome Cloud, will support client engagement in the US.
• Acquisition strengthens Capital Numbers' US presence and capabilities in digital engineering, cloud, data and AI.
• The deal creates cross-selling opportunities across both client bases.

Acquisition of Epitome Cloud Inc.

• Target: Epitome Cloud Inc.; indirect acquisition of its Indian subsidiary Epitomecloud Technology Private Limited.
• Total consideration for 100% stake: INR 40 crore.
• Paid portion: USD 24,51,288.49 (INR 23.40 crore) to Sellers.
• Remaining consideration to be paid per SPA.
• Shareholding acquired: 100%.
• Payment method: cash.
• Regulatory approvals: not disclosed.
• Timeline for completion: not disclosed.
• Related party status: not disclosed.
• Background: Epitome Cloud Inc.; products/services not disclosed.

Requests status

• No dematerialisation/rematerialisation requests were received during the quarter ended June 30, 2026.

Target overview

• Target: Epitome Cloud Inc, US-incorporated tech services firm (founded 2020).
• Operates via Indian subsidiary Epitome Cloud Technology Private Limited.
• Core services: Salesforce consulting, CPQ/CLM, workflow automation, and transformation.
• Turnover (standalone): 2023 $3.28m; 2024 $4.12m; 2025 $2.87m.
• Presence in United States and India.

Transaction terms

• Acquirer: CapitalNumbers Infotech Limited to acquire 100% equity of Epitome Cloud.
• Form of consideration: cash; total price INR 40 crore.
• Completion timeline: expected in 8–12 weeks after conditions fulfilled.
• Regulatory approvals: none required.

Governance & related party

• Acquisition not a related party transaction; no promoter or group interest in target.

Strategic rationale

• Strengthens Salesforce-led digital transformation capabilities.
• Expands US market access and delivery footprint.
• Adds specialized delivery capability and domain expertise.
• Enables cross-selling across existing and future clients.

Target background

• Incorporated 23 June 2020; specializes in enterprise tech and digital transformation.
• Core tech strengths: Salesforce, Conga, Agiloft, Onit.
• Geographic presence: United States and India.

Order details

• CapitalNumbers Infotech secured a new order from a UK-based entity.
• The order is for an AI project in the healthcare domain.
• The contract is a time-and-materials arrangement.
• Order value is INR 2.46 crore.
• Execution period is six months.
• The awarding entity name was not disclosed due to an NDA.
• No promoter, promoter group, or group company interest was reported.
• The order is not a related party transaction.

Business overview

• CapitalNumbers provides software development and digital engineering services globally.
• Core model uses hybrid onshore-offshore delivery across Kolkata and Gurgaon centers.
• AI, ML, and GenAI are positioned as the fastest-growing premium service line.

Operational highlights

• FY26 AI revenue exceeded 10% of total revenue.
• Company generated 500+ qualified leads through trade shows and digital channels.
• Won two Fortune 500 clients in healthcare and chemicals.
• Due diligence for Epitome Cloud Inc acquisition is complete; SPA execution is imminent.

Financial performance

• FY26 total income rose 9.4% to INR 115.60 crore.
• EBITDA was INR 35.80 crore with 31.0% margin.
• PAT was INR 25.50 crore with 22.1% margin.
• Operating cash flow was INR 17.29 crore in FY26.
• Total assets rose 21.6% to INR 199.59 crore; shareholders' funds rose 22.1% to INR 191.55 crore.

Capital structure & liquidity

• Company remains debt-free with zero debt and no leverage risk.
• Cash and investments totaled about INR 171.3 crore.
• Current ratio was about 29.8x.
• Cash and bank balances were INR 88.62 crore; current investments were INR 81.13 crore.

Outlook

• Management targets 35% revenue growth in FY27.
• EBITDA margin is expected to improve by 200-250 bps.
• Margin recovery is expected from Gurgaon operating leverage, senior hires, and acquisition synergies.
• Epitome Cloud acquisition is expected to contribute from FY27 onwards.

Governance

• Promoter holding was 74.98% as of March 31, 2026.
• Managing Director Mukul Gupta increased his stake from 39.80% to 40.40%.
• Board has six directors, split evenly between promoter and independent directors.

Management Changes

• Mr. Abhideep Bhattacharjee resigned as Head of Alliances and Senior Management Personnel, effective January 30, 2026.
• Resignation reason: to pursue other opportunities; no other material reasons disclosed.
• No impact on board or committee composition reported.