This company listed within the last twelve months, so its prospectus is still the primary source. The figures below were extracted from the DRHP and RHP before listing and scored then, and they are shown here as they stand in the IPO record rather than restated.
Each flag is a fact read in the filing, shown with the context that makes it meaningful.
Stated objects, as worded in the offer document. Deployment against them is tracked separately.
Claims made in the offer document, to be read against what the company has reported since.
Incorporated in 2007 and headquartered in Kolkata, West Bengal, Bench Mark Infotech Services Limited is an integrated IT and digital infrastructure solutions provider with over 19 years of experience. The company operates across three key business verticals: Integrated IT solutions (supply, installation, and commissioning of IT infrastructure, networking, audio-visual systems, safety/security, and data centre solutions), Annual Maintenance Contracts (AMCs) and facility support services, and Fibre Optic Infrastructure Solutions (leasing/renting fibre network capacity and trenching/ducting services). The business model is primarily order-driven and tender-based, operating through competitive bidding for government departments, public sector undertakings, educational institutions, and private clients. In FY26, Integrated IT solutions contributed 83.35% (Rs. 50.4521 crore), Fibre Optic Infrastructure Solutions contributed 12.95% (Rs. 7.8397 crore), and AMCs contributed 3.69% (Rs. 2.2358 crore) to revenue from operations. Geographic revenue is heavily concentrated in Eastern India, with Bihar contributing 43.30%, Odisha 20.16%, West Bengal 16.58%, and Jharkhand 13.20% of FY26 revenue. The top 10 customers accounted for 94.19% of FY26 revenue, with government-sector clients generating 73.10% of total revenue. As a service provider, the company does not own manufacturing plants or machinery, procuring hardware/software components from OEMs and authorized vendors.
Empanelment with BSNL as National Level System Integrator and RailTel Corporation as Business Partner, integrated under-one-roof service capabilities, long-standing customer relationships with repeat order flow from government/PSU entities, and established presence in Eastern India.
Bench Mark Infotech Services Limited is an integrated IT and digital infrastructure solutions provider engaged in design, supply, installation, commissioning, maintenance of networks, communication systems, surveillance, fibre optic infrastructure, data storage, and data centre solutions.
Source: p.127, 139, 144, 150
The comparable set the company chose, which is itself a disclosure.
| Name | Margin | Pb | Pe | Roe | Listed on | Source |
|---|---|---|---|---|---|---|
| Dynacons Systems & Solutions Ltd | 5.95 | 26.55 | 26.9 | mainboard | p.99, 103 | |
| Xtranet Technologies Limited | 11.15 | 50.87 | 30.01 | mainboard | p.99, 104 | |
| Esconet Technologies Limited | 1.74 | 15.66 | 7.68 | sme | p.99, 105 |
As presented in the offer document. Post-listing figures are in the statements above.
| Basis | Period | Related party revenue cr | Pat cr | Pat margin | Revenue cr | Pat margin derived | Cff cr |
|---|---|---|---|---|---|---|---|
| standalone | FY26 | 2.5725 | 10.218 | 16.88% | 60.5276 | yes | 1.6743 |
| standalone | FY25 | 2.0594 | 5.8304 | 11.65% | 50.0385 | yes | -0.8371 |
| standalone | FY24 | 1.1087 | 1.4802 | 4.34% | 34.0951 | yes | -3.2165 |
Written before listing, answered from the document itself.
How are the fresh issue IPO proceeds allocated across working capital requirements and general corporate purposes?
Fresh issue proceeds are allocated as: Rs. 30.0000 crore for funding incremental working capital requirements, and the balance for General Corporate Purposes (capped at 25%).
p.89, 90
What is the promoters' shareholding pre-issue, and what is their acquisition history?
Promoters Vineet Kumar Gupta and Juli Gupta hold 99.99% pre-issue equity (10,765,000 shares out of 10,872,650 pre-issue shares). Pre-issue shareholding was expanded via a 100:1 bonus issue of 10,765,000 shares in May 2026 at Rs. 0.00 per share.
p.76, 77, 78, 83
What are the key related-party transactions, promoter loans, and commercial dependencies?
Sales of services/goods to group entities (Bizarre Infratech, Victrix Tradelink, Leksa Lighting) totaled Rs. 2.5725 crore in FY26. Promoter remuneration totaled Rs. 1.3200 crore (Vineet Kumar Gupta Rs. 1.02 cr, Juli Gupta Rs. 0.30 cr). Unsecured loans from promoters total Rs. 1.3770 crore (50.88% of total debt of Rs. 2.7064 crore), all repayable on demand. Promoters provided personal guarantees covering credit facilities.
p.38, 60, 67, 69, 70, 71
How did operating cash flow perform relative to restated net profits over FY24 to FY26?
Restated PAT grew from Rs. 1.4802 crore in FY24 to Rs. 5.8304 crore in FY25 and Rs. 10.2180 crore in FY26. However, Operating Cash Flow (CFO) turned deeply negative in FY26 at -Rs. 6.7652 crore (down from +Rs. 6.5391 crore in FY25 and +Rs. 4.8662 crore in FY24) due to trade receivables swelling to Rs. 54.9796 crore (280 receivable days).
p.34, 35, 37, 216, 218
What secretarial, statutory compliance, litigation, and tax findings exist for the company?
The company has 51 employees with an attrition rate of 31.46%. Outstanding dues to MSME suppliers stand at Rs. 1.8395 crore principal plus Rs. 0.1793 crore interest. Material civil arbitration of Rs. 0.6554 crore against Shani Peripherals and direct/indirect tax cases of Rs. 0.1934 crore are pending. Statutory auditor M/s Goyal Goyal & Co., Chartered Accountants, served continuously without auditor change.
p.34, 39, 85, 153, 174, 194, 221
What are the application lot terms, retail ticket requirements, market maker details, and exit constraints for public investors?
The offer is listed on NSE Emerge with a minimum retail application requirement of 2 lots. Trading occurs strictly in standardized market lots, and because lots are indivisible, partial exit or fractional lot trading is impossible. Giriraj Stock Broking Private Limited is the Market Maker with 193,200 reserved shares (5.01%) and a mandatory 3-year obligation period. Standard SME 5% price circuit limits apply.
p.2, 11, 54, 74, 256
What the issue priced at, on the figures in the document.
How the book filled. A category that bid far above the rest is a different signal from a uniformly covered issue.
| Date | Name | Shares | Price per share | Category | Issue type | Source |
|---|---|---|---|---|---|---|
| 2007-01-09 | Vineet Kumar Gupta & Nand Rani Gupta (Initial MOA Subscribers) | 10000 | 10 | promoter | initial | p.76 |
| 2012-03-31 | Vineet Kumar Gupta & Juli Gupta | 40000 | 20 | promoter | preferential | p.76 |
| 2014-03-28 | Vivek Prasad, Akshay Kumar, Anand Gupta, Juli Gupta, Vineet Kumar Gupta | 57650 | 20 | other | preferential | p.76, 77 |
| 2026-05-08 | Vineet Kumar Gupta & Juli Gupta | 10765000 | 0 | promoter | bonus | p.76, 77 |
Ceo: Vineet Kumar Gupta
Material civil arbitration proceeding Bench Mark Infotech Services Limited vs. Shani Peripherals Private Limited involving Rs. 0.6554 crore. Direct and indirect tax proceedings involving Rs. 0.1934 crore across 5 cases.
Auditor name: M/s Goyal Goyal & Co., Chartered Accountants
Skin in game: Promoters hold 99.99% pre-issue shareholding (10,765,000 equity shares out of 10,872,650 pre-issue equity shares).
Auditor changed last 3y: No
Source: p.38, 39, 62, 194, 221
Transactions with promoters, directors and their entities, as disclosed.
| Counterparty | Amount cr | Nature | Relationship | Core function | Source |
|---|---|---|---|---|---|
| Vineet Kumar Gupta | 1.02 | remuneration | director | yes | p.60, 69 |
| Juli Gupta | 0.3 | remuneration | director | yes | p.60, 69 |
| Bizarre Infratech Private Limited | 1.2873 | sale | group company | yes | p.60, 71 |
| Victrix Tradelink LLP | 1.2274 | sale | group company | yes | p.60, 71 |
| Victrix Tradelink LLP | 0.1907 | purchase | group company | yes | p.60, 70 |
| Victrix Tradelink LLP | 0.4081 | transport | group company | yes | p.60, 70 |
| Leksa Lighting Technologies Private Limited | 0.0578 | sale | group company | yes | p.60, 71 |
| Benchmark Infotech | 0.079 | loan given | other | no | p.60, 72 |
Disclosed instances of administrative delays in filing of ESIC and TDS returns during the restated period. Dues remaining unpaid to MSME suppliers under MSMED Act stood at Rs. 1.8395 crore principal and Rs. 0.1793 crore interest as at March 31, 2026.
Defaults disclosed: Yes
Source: p.39, 85, 174
How to read this: Price shows the closing price with its 50-day (amber) and 200-day (grey) averages; bars at the bottom are daily volume, green on up days and red on down days; dashed lines mark the 52-week high and low. vs Nifty 50 starts both at 100 so you can see which did better over the period. P/E shows what the market paid for each rupee of profit, inside the band it usually trades in. Drawdown shows how far below its best price the share has been. Hover anywhere for the numbers on that day.
Models that need these lines are withheld rather than estimated: two comparable financial years. Nothing on this page is back-solved from a figure the company did not publish.
Set your own assumptions and watch the numbers move. A scenario calculator — the outputs are the arithmetic of your inputs.
What this sector is read on: Constant-currency growth QoQ, Constant-currency growth YoY, EBIT margin, Deal TCV, Net headcount adds, LTM attrition, Utilisation, Top-5 client share. These come from the filings, not the market feed, and appear here once a quarter is read.
Read using the IT services framework (from the listed sector). Primary valuation lens: P/E on constant-currency growth.
Read more closely in this sector: Large deal ramp-downs or client losses named · Pass-through revenue · Onsite and offshore mix shift · Deal TCV against revenue growth.