Fractal Analytics Ltd. share price target

Fractal reported revenue growth of -0.3% QoQ CC (I-Sec: 3.1%) and 8.7% YoY CC in Q1FY27. The miss on revenue was due to continued weakness in TMT (-13.3% QoQ USD, -29% YoY USD).

We value the company at 34x FY28E EPS, and recommend a BUY rating on the stock with a TP of Rs 1,055/share, implying an upside of 10% from the CMP.

Fractal's Q4 performance was mixed, with rev. growth of 3.7% QoQ in INR terms materially below our estimate of 8.3%, while EBITDA margin expanded sharply by 530 bps QoQ, ahead of our est. of 260 bps improvement. The rev. miss was largely attributable to weakness in the Fractal.ai business, particularly within the TMT vertical, which declined sharply by 14% QoQ, attributed to client-specific issues. Ex-TMT company reported strong growth of 27.5% YoY in FY26 in INR, validates healthy growth within other pockets. Further, the Alpha segment (~3% of revenue) continues to scale with losses steadily narrowing, aided by growing mix of IP-led and license-linked...

The revenue performance (+5.0%/14.0% CC QoQ/YoY) was tad below our estimates, attributed to softness in CPG and TMT verticals. The softness in CPG was macro-oriented, while the weakness in TMT was more structural and client specific. Otherwise, ex-TMT (~70% of revenue) the growth looks encouraging across other verticals (up ~27%+ YoY). Fractal.ai (98% of revenue) grew at a...

Global data analytics industry Overview ................................................................................ 4 DAAI market poised for rapid growth ..................................................................................... 4 Data analytics adoption strong across all business functions ..................................... 5 All segments to double their spending on DAAI Services ............................................. 6 Rise of agentic AI & impact on DAAI market ............................................................................ 7 AI software market poised for broad-based expansion ...................................................... 9 Peer comparison.................................................................................................................................. 10 Story in Charts ..................................................................................................................................... 12...

Based in Mumbai, Fractal Analytics is a leading company that helps huge global corporations use Artificial Intelligence (AI) and data to make better business decisions. They have been around since 2000, giving them over 25 years of experience in the industry.

Fractal Analytics (Fractal) is a data analytics and end-to-end AI solutions provider to assist enterprises globally in decision making. The company was founded in 2000 and has emerged to power human decisions by integrating AI, Engineering, and Design across the entire AI transformation cycle. Fractal operates under two business segments, Fractal.ai providing comprehensive AI services and AI products hosted on its Cogentiq platform, and Fractal Alpha with minimal revenue contribution currently (~3%), the focus is to expand geographically with independent AI businesses. Fractal has established a marquee client base globally which includes Fortune 500 companies such as Citibank, Costco, Franklin Templeton, Mondelez, Nationwide....

Fractal Analytics is positioning itself as a tech play, serving as bridge between "AI potential" and "Enterprise performance enhancement.“

Founded in 2000, company is a globally recognized enterprise artificial intelligence (AI) company, with a vision to power human decisions in company's clients' enterprises by leveraging AI. Company support largeglobal enterprises with data-driven insights and assist them in their decision making through its end-to-end AI solutions. Company build its AI solutions by leveraging its technical, domain and functional capabilities built over Company's operating history of over 25...

Issue Snapshot: Issue Open: February 09 February 11, 2026 Price Band: Rs. 857-900 (Employee Discount Rs 85/share) *Issue Size: Up to Rs 2834 cr (Fresh Issue of 11,372,222+ Offer for sale of upto 20,115,555 eq sh) Reservation for: QIB atleast 75% eq sh Non-Institutional upto 15% eq sh ((including 1/3rd for applications between Rs.2 lakhs to Rs.10 lakhs)) Retail upto 10% eq sh Face Value: Rs 1 Book value: Rs 116 (Sept 30, 2025) Bid size: - 16 eq sh and in multiples thereof 100% Book built Issue IPO Note - Fractal Analytics Limited

About the Company: Fractal Analytics Limited (Fractal), founded in 2000, is a is India's leading pure-play enterprise data, analytics and artificial intelligence (AI) company. Fractal works closely with clients to solve problems across revenue growth, customer experience, risk management, pricing, demand forecasting and...

IPO NOTE

Fractal Analytics Ltd. (Fractal) is a globally recognized artificial intelligence (AI) company, supporting large enterprises with data-driven insights and assisting them in decision making through end-to-end AI solutions. The company's full suite of AI solutions is organized under 2 segments, (a) Fractal.ai, and (b) Fractal Alpha, catering to the diverse business needs of clients across...