63SATS Cybertech Unlisted Share Price

63SATS Cybertech  is a subsidiary of listed 63 Moons Technologies, a group known for its exchange technology and association with platforms such as MCX and MSEI. The company operates in the cybersecurity space, combining enterprise services with IP-led platforms such as CYBX AI CyberOps and the CYBX Super App for consumers. It reported H1 FY27 billings of ₹218 crore, around 2.5 times its FY26 billed revenue of ₹87 crore. The company is now aiming for a decisive shift from services-led growth towards an IP-led model, with the long-term opportunity depending on product adoption, recurring revenue and profitability.

63SATS Cybertech – Business Segments

Enterprise Security (CSF): Provides implementation, cybersecurity advisory and managed security services to enterprise clients, helping organisations strengthen their cyber defences and manage security risks.

Government & Critical Infrastructure (CyberDome): Focuses on hardened cybersecurity solutions for government bodies and critical infrastructure, including protection of essential systems and operational technology.

IP & Product Division (CYBX DNA): Develops proprietary cybersecurity products, including AI CyberOps for enterprise security operations and the CYBX Super App for consumer digital protection. AI CyberOps generated ₹40 crore in FY26 revenue, while the Super App recorded over 18 lakh downloads.

PRODUCTS:

63SATS Cybertech operates across cybersecurity products, enterprise services and digital protection solutions. Its strategy is to transition from a Products and Platforms

CYBX AI CyberOps — ₹88 crore billed in H1 FY27: An AI-powered Security Operations Centre (SOC) orchestration platform designed to automate threat detection, security monitoring and incident response at enterprise scale. According to the company’s investor update, it accounted for roughly 40% of total H1 FY27 billed revenue. The company describes it as proprietary IP capable of converting enterprise orders into billed revenue.

CYBX Super App — 2.5 million users / 5.35 lakh subscribers: A consumer cybersecurity application designed to protect users against scam calls, phishing, UPI fraud and malicious applications. The platform also incorporates cyber-insurance protection, subject to applicable policy terms. The company reports 2.5 million users and 5.35 lakh subscribers.

CYBX Coin — In development: A planned rewards-led security-intelligence token intended to encourage safer digital behaviour and engagement within the CYBX ecosystem. It remains a development initiative, not an established standalone cryptocurrency business.

IronDroid — Certification targeted for November 2026: A privacy-first, hardened mobile ecosystem designed for business and consumer use cases. Its commercial potential will depend on certification, product readiness and adoption.

CYBX Fingerprint — In development: A digital identity and KYC authentication platform intended to support secure, reliable and seamless identity verification.

CyberDome: A cybersecurity solution focused on government organisations, critical infrastructure and operational technology environments, where cyber threats can affect essential systems and operations.

2. Services and Solutions

Enterprise Cybersecurity Services: Implementation, integration and technical security support for organisations seeking to strengthen their IT infrastructure and cyber defences.

Vulnerability Assessment and Penetration Testing (VAPT): Identifying vulnerabilities in applications, networks and systems through controlled security testing.

Managed Security and SOC Services: Monitoring security events, investigating threats and supporting incident response for enterprise customers.

Governance, Risk and Compliance (GRC): Helping businesses assess cyber risks, strengthen internal controls and manage regulatory and security compliance requirements.

DPDP and Data Privacy Solutions: Supporting organisations with data-protection assessments, privacy processes and compliance with India’s Digital Personal Data Protection framework.

Cybersecurity Advisory and vCISO Services: Providing strategic security guidance, risk management and virtual Chief Information Security Officer support.

Revenue Split – FY26 vs H1 FY27

REVENUE H1 FY27:
CYBX AI CyberOps generated ₹88 Cr in billings, accounting for 40.3% of total billings of ₹218.21 Cr, while other businesses contributed ₹130.21 Cr (59.7%).

FY26 REVENUE SPILIT :

B2B services and products generated ₹43 Cr, contributing 49.4% of total revenue of ₹87 Cr.

CYBX DNA – AI CyberOps generated ₹30 Cr, accounting for 34.5% of total revenue.

CYBX DNA – B2C Super App generated ₹14 Cr, contributing 16.1% of total revenue.

KEY PERFORMANCE

63SATS Cybertech – Operating Performance (FY26–H1 FY27)

63SATS Cybertech reported ₹218 crore in H1 FY27 billings, compared with ₹87 crore in FY26. Its order book increased from ₹45 crore in FY26 to ₹400 crore by Q2 FY27, while AI CyberOps billings reached ₹88 crore in H1 FY27.

• Revenue: ₹87 crore in FY26, ₹102.57 crore in Q1 FY27 and ₹115.64 crore in Q2 FY27, taking H1 FY27 billings to approximately ₹218 crore.
• Order book: Increased from ₹45 crore in FY26 to ₹288 crore in Q1 FY27 and ₹400 crore in Q2 FY27.
• AI CyberOps: Billings rose from ₹40 crore in FY26 to ₹13 crore in Q1 FY27 and ₹75 crore in Q2 FY27, totalling ₹88 crore in H1 FY27.
• CYBX downloads: Increased from 18.87 lakh in FY26 to 25 lakh by Q2 FY27.
• CYBX paid subscribers: Grew from 2.32 lakh in FY26 to 5.35 lakh by Q2 FY27.
• DPDP business: Reported ₹65 crore-plus in Q1 FY27 and ₹105 crore by Q2 FY27, as per the supplied figures.
• Enterprise clients: Increased from 72 in FY26 to 107 by Q2 FY27.
• OEM partnerships: Expanded from 12 in FY26 to 55 by Q2 FY27.
• Team strength: Increased from 144 employees in FY26 to 177 by Q2 FY27.

Team Composition

63SATS Cybertech’s employee strength increased from 144 in FY26 to 177 in H1 FY27, an increase of 33 employees or 22.9%. In FY26, engineers accounted for 79 employees, followed by sales and operations with 25, growth and marketing with 22, and central and management functions with 18

INDUSTRY DATA 

Cybersecurity Industry – Market Outlook

•  Global Cybersecurity Market: Estimated at US$230 billion in 2025, the global market is expected to grow at a CAGR of 9%, reaching approximately US$350 billion.
• Indian Cybersecurity Market: Estimated at US$6.9 billion in 2024, the Indian market is projected to grow at a CAGR of 20%, reaching approximately US$20.5 billion by 2030.

63SATS Cybertech – Financial Analysis

Profit & Loss Statement

Revenue Growth: Revenue increased from ₹3 crore in FY25 to ₹87 crore in FY26. The company reported ₹218 crore in H1 FY27 billings, indicating a sharp increase in business activity. However, H1 billings should not be directly compared with FY25 and FY26 recognised revenue without confirming the accounting basis.

EBITDA: EBITDA losses narrowed from ₹15 crore in FY25 to ₹11 crore in FY26, indicating some improvement in operating performance despite the expansion phase.

FY27 Revenue Guidance: Management raised its FY27 billing target to ₹600 crore from its earlier guidance of ₹300 crore. Achieving this target will depend on order execution, billing conversion and collections.

 Profitability Outlook: Management expects meaningful EBITDA profitability to begin in FY28, with a mature IP-led business potentially targeting margins above 40%. This is a forward-looking ambition, not an achieved margin.

Balance Sheet and Working Capital

Current Ratio: Improved from 3.68× in FY25 to 29× in FY26, indicating a higher level of current assets relative to current liabilities.

Cash Ratio: Increased from 2.54× to 17.74× over the same period, suggesting stronger cash coverage of current liabilities, based on the reported ratios.

Receivable Days: Increased from 67 days to 122 days, indicating that the company is taking longer to collect payments. This is an important metric to monitor as billings and order execution scale up.

Liquidity Ratios

63SATS CYBERTECH Unlisted share Price Valuation

At an indicative unlisted-market price of ₹25.75, 63SATS Cybertech is trading at approximately 8.75× price-to-book value and 29× price-to-sales, based on the figures provided. Against management’s FY27 billing guidance of ₹600 crore, the implied price-to-sales multiple falls to approximately 4.34×, assuming the market capitalisation remains unchanged and the guidance is achieved.

For comparison, listed peer Quick Heal Technologies trades at approximately 3.27× sales, based on the multiple you provided. Quick Heal’s FY26 topline declined by 6.62%, while 63SATS is reporting rapid growth in billings. However, the comparison requires caution because the businesses differ in scale, revenue mix and accounting basis.