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Saturday 7 November 2026
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Roadzen Inc.
RDZN Technology Software Application
Roadzen Inc.’s revenue for fiscal 2026 (year ended March 2026) was $55.0 million, up 24.2% from fiscal 2025.
- Revenue
- +49.0%
- EPS
- −140.0%
- Free cash flow
- −85.8%
- Total debt
- +39.5%
Quarter to June 2026, against a year earlier
1.18
0.07
+6.31%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to March
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM Jun ’26 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 14 | 47 | 44 | 55 | 60 | +59.5% | 78 | 138 | 78 | +12.1% | |
| Gross margin, % | — | — | — | — | — | — | 60.08 | 61.19 | 57.48 | 61.33 | 60.68 | +1.2 pt | ||||||
| EBT | — | — | — | — | 0 | 1 | (14) | (100) | (73) | (23) | (29) | +154.5% | ||||||
| EBT margin, % | — | — | — | — | 0.00 | 0.00 | (105.04) | (213.77) | (164.97) | (41.80) | (47.63) | (41.8) pt | ||||||
| Net income | 0 | — | — | — | 0 | 1 | (14) | (100) | (73) | (23) | (28) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | 0.00 | 0.00 | 0.82 | 1.06 | 0.63 | 0.71 | 0.73 | n/m | |||||
| Earnings | — | — | — | — | (0.01) | 0.04 | (0.86) | (2.26) | (1.04) | (0.29) | (0.36) | +96.1% | ||||||
| Cash flow | — | — | — | — | 0.00 | (0.05) | (0.46) | (0.44) | (0.26) | (0.26) | (0.28) | +165.1% | ||||||
| Capex | — | — | — | — | 0.00 | 0.00 | (0.05) | (0.01) | (0.01) | (0.01) | (0.01) | n/m | ||||||
| Free cash flow | — | — | — | — | 0.00 | (0.05) | (0.51) | (0.45) | (0.27) | (0.27) | (0.29) | +167.7% | ||||||
| Book value | — | — | — | — | 7.93 | 7.97 | (3.10) | (0.24) | (0.37) | (0.34) | (0.37) | n/m | ||||||
| Shares, m | — | — | — | — | 25 | 25 | 17 | 44 | 70 | 77 | 79 | +25.4% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | 0.00 | 6.13 | 1.64 | 1.69 | 1.64 | 2.4 | ||||||
| P/B | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/Sales | — | — | — | — | — | — | 0.00 | 6.29 | 2.04 | 2.17 | 2.09 | 2.6 | ||||||
| EV/FCF | — | — | — | — | — | — | (2,265.77) | (14.94) | (4.88) | (5.61) | (5.25) | (572.8) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | 0 | (1) | (8) | (19) | (18) | (20) | (23) | +232.2% | |||||
| Capex | — | — | — | — | — | — | (1) | 0 | 0 | (1) | (1) | +6.3% | ||||||
| Free cash flow | — | — | — | — | 0 | (1) | (8) | (20) | (19) | (21) | (24) | +235.5% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | 1 | (1) | (11) | (16) | (30) | (26) | (32) | n/m | |||||
| Net debt | — | — | — | — | (1) | 0 | 8 | 8 | 18 | 26 | 27 | n/m | ||||||
| Shareholders’ equity | — | — | — | — | 198 | 199 | (51) | (10) | (26) | (27) | (31) | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | (0.21) | 0.48 | (12.61) | (271.88) | (160.66) | (52.83) | (70.17) | (52.6) pt | |||||
| ROIC | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | — | — | — | 0.00 | 0.49 | (18.92) | 323.69 | 402.70 | 86.25 | 95.26 | +86.3 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 379 | 308 | 459 | — | +10.0% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.12 | 0.14 | 0.12 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Mar 2026 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Roadzen Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| BVC BitVentures Limited | $137.3M | 8.2× | 1.5× | +95.82% (above 0%: growing) | +76.47% (above 0%: growing) | — | 0.00% | 0.00% | Compare |
| HUCK Huckleberry.ai, Inc. | $135.0M | — (loss-making) | — (loss-making) | −3.68% (below 0%: shrinking) | n/m | −890.68% (below 0%: shrinking) | 77.13% | (3.11%) | Compare |
| TRAK ReposiTrak Inc. | $125.8M | 16.6× | 15.7× | −3.20% (below 0%: shrinking) | +22.22% (above 0%: growing) | −17.59% (below 0%: shrinking) | 85.73% | 33.74% | Compare |
| RYDE Ryde Group Ltd. | $114.7M | — | — | — | n/m | −1,394.20% (below 0%: shrinking) | 34.62% | (54.96%) | Compare |
| SSTI SoundThinking, Inc. | $110.2M | — (loss-making) | — (loss-making) | −7.73% (below 0%: shrinking) | n/m | −204.69% (below 0%: shrinking) | 48.29% | (19.48%) | Compare |
| RDZN Roadzen Inc. | $94.5M | — (loss-making) | — (loss-making) | +49.04% (above 0%: growing) | n/m | −85.81% (below 0%: shrinking) | 57.25% | (9.53%) | |
| RTB RTB Digital, Inc. | $83.4M | — (loss-making) | 9.6× | +350.29% (above 0%: growing) | n/m | −123.92% (below 0%: shrinking) | 37.41% | (383.63%) | Compare |
| NTWK NetSol Technologies Inc. | $77.3M | 26.4× | — (loss-making) | +12.54% (above 0%: growing) | +45.45% (above 0%: growing) | +134,644.57% (above 0%: growing) | 63.60% | 21.62% | Compare |
| NRDY Nerdy Inc. | $75.2M | — (loss-making) | — (loss-making) | −4.49% (below 0%: shrinking) | n/m | +23.48% (above 0%: growing) | 64.73% | (14.98%) | Compare |
| Median of peers | $112.5M | 16.6× | 9.6× | −3.20% | +45.45% | −123.92% | 55.95% | (9.04%) |
Pay and ownership Proxy statement filed 10 March 2026
Ownership
Directors and executive officers, together
29.50% of the votes
Rohan Malhotra
23.20% of the votes
Avacara PTE, Ltd.
22.10% of the votes
13books Capital LP
10.20% of the votes
Naveen Arya
6.80% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement