Fractal Analytics: An AI Services Business Wearing an AI Platform Multiple

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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence Equity Research | Valuation Alert Fractal Analytics: An AI Services Business Wearing an AI Platform Multiple At ₹708 (Face Value: ₹1), the market pays about ₹12,176 crore for a company whose platform arm is 2.7% of revenue, whose dollar growth has slowed from 22% to 14%, and whose free cash flow fell 39% in FY26. SumanSpeaks puts fair value at ₹460, some 35% below the current price. Let me put one question in front of you. What would you pay for a company that earns 97% of its revenue from AI services, but trades on the vocabulary of an AI platform? Fractal Analytics Ltd (₹708) has slipped below the ₹732 52-week low quoted in PL Capital's note of 31 August 2026, so it is now trading at fresh lows. Yet its market capitalisation is still about 3.7 times FY26 revenue of ₹3,299.7 crore. That works out to roughly 40 times FY26 adjusted profit on the current share count and about 34 times FY27E E...
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Is the Government Indirectly saying, to enter the markets now??!!
MUMBAI: The finance ministry is nudging state-owned banks to cut lending rates before March-end, though most lenders had initially taken a stand to review interest rates only next financial year.
This has not been communicated in writing, but at a recent meeting, senior ministry officials asked bank chiefs to consider lowering interest rates.
Even after the Reserve Bank of India cut banks' cash reserve ratio (CRR) in January, signalling a reversal in its monetary policy stance, bankers had said it would take a while for lending rates to soften.
Since CRR is the slice of customer deposits that banks have to keep as cash with the RBI, a cut in the ratio following repeated rate hikes was perceived as the onset of a dovish monetary policy. But since no bank has lowered returns on deposits since the RBI action, their cost of fund continues to be high.

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