Canarys

Bengaluru, India Founded: 1988 • Age: 38 yrs Listed
IT solutions for digital transformation and automation are provided.

About Canarys

Canarys is a publicly listed company based in Bengaluru (India) founded in 1988 by Raman Subbarao Metikurke. IT solutions for digital transformation and automation are provided. Canarys has raised $57.56 thousand across 1 funding round from investors including Nirmala Krishnan and Arun D K. The company has 265 employees. Canarys was last valued at $2.23 million in July 2006. Its chief executive, as recorded, is Sheshadri Srinivas. Its Indian entity Canarys Automations Limited reported revenue of β‚Ή200 Cr. Canarys offers products and services including DevOps Solutions, Automation Services, and Modernization Solutions. Its focus areas include Business Services, IT Services, Suite and Consumer. Its competitors include Happiest Minds, GirnarSOFT and Datamatics; 3 of its 3 listed competitors have raised funding.

Company details

Canarys was founded in 1988 and is based in Bengaluru, India. IT services are delivered, emphasizing digital transformation, system modernization, and process automation. Operational efficiency is supported for businesses across sectors. Leadership includes founder Raman Subbarao Metikurke as Managing Director and Sheshadri Srinivas as CEO. Operations focus on enabling technology-driven improvements in client workflows.

  • Headquarters Bengaluru, India
  • Employees 265
  • Founders Raman Subbarao Metikurke
  • Stage Public
  • Sectors
    Technology
  • Email
    β€’β€’β€’β€’β€’β€’β€’β€’
  • Phone
    β€’β€’β€’β€’ β€’β€’β€’β€’
  • Website ecanarys.com
  • Social LinkedIn X Facebook YouTube
  • Legal Name Canarys Automations Ltd.
Key Metrics
  • Market Cap
    ₹142 Cr

    CANARYS-SM · NSE

  • Share Price
    ₹24.05

    -0.41% today

  • Revenue
    ₹198 Cr

    FY 2025-26 · +122.4% YoY

  • EBITDA
    ₹19.66 Cr

    Margin 9.9%

  • Net Profit
    ₹14.18 Cr

    FY 2025-26 · +71.1% YoY

  • P/E (TTM)
    10.0x

    P/B 1.4x

  • Total Equity Funding
    $57.56K (USD)

    in 1 rounds

  • Latest Funding Round
    $57.56K (USD), Angel Round

    Jul 2006

  • Employee Count
    265

Products & Services of Canarys

Canarys offers a comprehensive portfolio of products and services, including DevOps Solutions, Automation Services, and Modernization Solutions.

DevOps Solutions
IT Services

Provides assessment and implementation for DevOps automation.

Automation Services
Process Automation

Offers robotic process automation for business efficiency.

Modernization Solutions
Application Modernization

Delivers tools for legacy system updates and migration.

Apps and channels of Canarys

its YouTube channel Canarys Automations has 479 subscribers and 30 videos.

Canarys Automations
YouTube 479 subscribers 30 videos Science & Technology
Open channel

Videos from Canarys

The most watched videos on Canarys's YouTube channel, Canarys Automations (479 subscribers). Click a video to play it here.

Urban Flood Management Cell | Inauguration | Gorakhpur #floodmanagement #EarlyWarningSystem
146 views
Canarys Day Outing | 2025 #canarys #corporateevents #corporateculture
117 views
Voices of Canarians | Employee Testimonial | 2025 #Canarys #LifeAtCanarys
89 views
Exclusive interview of our CEO at Canarys Kannada Rajyotsava Celebration | 2024
63 views

More on Canarys Automations.

Funding Insights of Canarys

Canarys has successfully raised a total of $57.56K through 1 strategic funding round. The most recent funding activity was a Angel Round of $57.56 thousand completed in July 2006. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.

  • Total Funding $57,561
  • Total Rounds 1
  • Last Round Angel Round β€” $57,561
  • First Round $57,561

    (Jul 2006)

  • Investors Count 2

All 1 funding rounds of Canarys with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.

DateAmountTransaction NameValuationLead InvestorsInvestors
Jul 2006$57,561Angel Round$2.23MNirmala Krishnan, Arun D K
–
Valuation history
DateValuationStage
Jul 2006$2.23Mβ€’β€’β€’β€’β€’β€’β€’β€’

Last known valuation $2.23M (Jul 2006). 2 investors in total: 0 institutional and 2 angel.

Investors in Canarys

Canarys has secured backing from 2 investors, including angel investors. Prominent investors backing the company include Nirmala Krishnan and Arun D K.

All
Angel
InvestorDescriptionFounded YearDomainLocation

Nirmala Krishnan

unknown_7a2e24dc2a5b48ad9

Arun D K

unknown_5f61068539e94e7f8
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Investor details for Canarys

The complete investor list, round-by-round participation and investor portfolios require an active premium plan.

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  • Round participation
  • Investor portfolios
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Board of directors of Canarys Automations Limited (Canarys)

Canarys Automations Limited is the primary company behind Canarys. The board of Canarys Automations Limited currently have 8 directors; the longest-serving is Metikurke Ramaswamy Raman Subbarao, appointed in 1991. 8 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Metikurke Ramaswamy Raman Subbarao
DIN 00176920
Managing Director01 Jul 199135 yrs 4 moCanarys Automations Limited
Danavadi Krishnamurthy Arun
DIN 01064990
Whole-time director29 Sep 199927 yrs 1 moCanarys Automations Limited
Raghu Chandrashekhariah
DIN 01065269
Whole-time director29 Sep 199927 yrs 1 moCanarys Automations Limited
Sheshadri Srinivas Yedavanahalli
DIN 03367545
Director30 Apr 201214 yrs 6 moCanarys Automations Limited
Pushparaj Shetty
DIN 03333417
Director19 May 20233 yrs 5 moCanarys Automations Limited
Asha Sivashankar
DIN 10184245
Director14 Jul 20233 yrs 3 moCanarys Automations Limited
Ramesh Phatak Bhaskar
DIN 07981182
Director14 Jul 20233 yrs 3 moCanarys Automations Limited
Muralikrishnan Gopalakrishnan
DIN 07059037
Director14 Jul 20233 yrs 3 moCanarys Automations Limited

People of Canarys

15 people are tracked at Canarys (6 in leadership, 9 in team); the tracked headcount is 265.

NameRoleGroup
Founder & Managing DirectorLeadership
CEOLeadership
Shyam Mantha
Senior Vice President - Growth & RevenueLeadership
Executive Director (telemetry)Leadership
Arun Danavadi K
Whole Time Director – OperationsLeadership
Srinivasa R.
Account Director, Sales And Delivery Head (automations)Leadership
Kishan Puranik
Account ManagerTeam
Padmaja M
Executive Assistant / PMOTeam
Sajith Radhakrishnan
Account ManagerTeam
Varsha Sharma
Regional Sales & Account ManagerTeam
Kavitha Subramani
Assistant Manager Business DevelopmentTeam
Sudheer C
Senior Business Development ManagerTeam
Syed Nadeem
Global Lead For Automation & Intelligent TechnologiesTeam
Raghu Pavan
CIOTeam
Amit Sutradhar
AVP Enterprise Sales And Account Management - WestTeam
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Complete people profiles for Canarys

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  • Team structure
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IPO & Listings of Canarys

Canarys is a publicly listed company on the NSE with ticker symbol CANARYS in India, operating in the Technology services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date11 Oct 2023
  • Listed onNSE: CANARYS
  • Listed entityCanarys Automations Ltd.
  • Exchange sectorTechnology services
  • ISININE0QG301017
  • Share price₹27.05 (-1.46% on the day) · 2026-10-14
  • Market capitalisation₹157 Cr
  • Price to earnings12.8
  • EPS (diluted, trailing year)₹2.11
  • Volume (last session)72,000

Financials of Canarys

Exchange-reported figures of Canarys Automations Limited, the listed company behind Canarys (NSE: CANARYS-SM).

Financial Highlights

FY 2025-26 Β· Consolidated
Revenue
₹198 Cr
+122.4% YoY
EBITDA
₹19.66 Cr
+71.9% YoY
Profit After Tax
₹14.18 Cr
+71.0% YoY
Net Worth
₹104 Cr
+18.4% YoY
Total Assets
₹115 Cr
+21.1% YoY
Total Debt
₹9.65 Cr
+35.2% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue19889.0875.0274.5251.5125.6218.25
Revenue growth+122.4%+18.7%+0.7%+44.7%+101.1%+40.4%-
EBITDA19.6611.4411.0512.776.793.261.78
EBITDA margin+9.9%+12.8%+14.7%+17.1%+13.2%+12.7%+9.8%
Profit before tax19.7311.4910.6511.936.232.981.65
Net profit14.188.298.018.744.562.081.22
Net profit margin+7.2%+9.3%+10.7%+11.7%+8.9%+8.1%+6.7%
EPS (β‚Ή)2.111.401.343.981.9810.567.08
Balance sheet
Total assets11594.9482.1439.8325.8912.794.90
Net worth10487.4774.1225.3816.8312.584.83
Total debt9.657.147.7214.168.790.000.00
Cash & bank7.9527.8123.555.605.531.091.69
Net working capital75.6785.7575.4736.2620.007.662.36
Cash flow
Cash from operations6.553.85(11.74)(6.87)(2.65)(1.60)0.21
Cash from investing(29.55)(3.60)(1.52)(1.10)0.26(1.38)(0.22)
Cash from financing3.142.1331.684.608.465.64(0.23)
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue10085.9674.4973.7351.8025.1818.14
Revenue growth+16.5%+15.4%+1.0%+42.3%+105.7%+38.8%-
EBITDA12.6611.4111.1012.566.133.311.69
EBITDA margin+12.6%+13.3%+14.9%+17.0%+11.8%+13.2%+9.3%
Profit before tax13.4011.8011.5012.695.772.961.46
Net profit11.768.778.769.494.312.181.04
Net profit margin+11.7%+10.2%+11.8%+12.9%+8.3%+8.7%+5.7%
EPS (β‚Ή)1.701.491.484.482.1111.426.02
Balance sheet
Total assets10491.7578.3829.0817.1812.394.70
Net worth10288.1274.3024.7916.1712.264.63
Total debt1.903.313.774.010.980.000.00
Cash & bank4.1127.0823.101.021.903.881.48
Net working capital65.0482.1971.5025.2010.948.471.90
Cash flow
Cash from operations4.803.12(14.61)(5.28)2.065.293.77
Cash from investing(28.80)(3.60)(1.59)(1.31)0.25(8.18)(4.20)
Cash from financing1.022.5838.762.270.595.290.00

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 03 Nov 2026
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue19889.0875.0274.5251.5125.6218.25
Revenue growth+122.4%+18.7%+0.7%+44.7%+101.1%+40.4%-
Other income1.601.501.291.060.490.170.17
Total expenses17877.6463.9761.7544.7222.3616.47
Employee cost0.0038.0131.9529.0619.7612.0711.37
EBITDA19.6611.4411.0512.776.793.261.78
EBITDA margin+9.9%+12.8%+14.7%+17.1%+13.2%+12.7%+9.8%
Depreciation0.200.270.340.400.380.350.28
Interest1.331.181.351.500.670.100.02
Profit before tax19.7311.4910.6511.936.232.981.65
Tax4.893.202.643.281.670.890.42
Net profit14.188.298.018.744.562.081.22
Net profit margin+7.2%+9.3%+10.7%+11.7%+8.9%+8.1%+6.7%
EPS (β‚Ή)2.111.401.343.981.9810.567.08
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital11.7513.0014.369.289.287.111.74
Reserves & surplus91.7972.8859.7616.107.555.473.09
Shareholders' funds (net worth)10487.4774.1225.3816.8312.584.83
Minority interest1.600.000.000.000.000.000.00
Secured loans0.000.000.005.440.000.000.00
Unsecured loans9.657.147.728.728.790.000.00
Total debt9.657.147.7214.168.790.000.00
Total liabilities11594.9482.1439.8325.8912.794.90
Assets
Gross block25.823.123.123.094.644.184.08
Net block23.110.610.821.000.960.860.97
Capital work in progress11.825.412.290.000.000.000.00
Investments1.101.101.131.130.021.090.04
Inventories6.036.231.744.064.321.042.34
Sundry debtors80.2668.3364.7642.6425.9110.373.82
Cash & bank balances7.9527.8123.555.605.531.091.69
Loans & advances7.068.957.904.855.822.310.13
Total current assets10111197.9557.1541.5814.817.98
Total current liabilities25.6325.5722.4820.8921.587.155.62
Net working capital75.6785.7575.4736.2620.007.662.36
Total assets11594.9482.1439.8325.8912.794.90
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash27.8125.427.008.984.311.651.93
Net cash from operating activities6.553.85(11.74)(6.87)(2.65)(1.60)0.21
Net cash from investing activities(29.55)(3.60)(1.52)(1.10)0.26(1.38)(0.22)
Net cash from financing activities3.142.1331.684.608.465.64(0.23)
Net change in cash(19.86)2.3818.42(3.38)6.072.66(0.24)
Closing cash7.9527.8123.555.605.531.091.69
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+122.4%+18.7%+0.7%+44.7%+101.1%+40.4%-
EBITDA growth+71.9%+3.5%-13.5%+88.1%+108.3%+83.2%-
PBT growth+71.7%+7.9%-10.7%+91.5%+109.1%+80.6%+9997.0%
Net income growth+71.1%+3.5%-8.4%+91.7%+119.2%+70.5%-
Revenue CAGR (3Y)+38.5%+20.0%+43.1%+59.8%---
EBITDA CAGR (3Y)+15.5%+19.0%+50.2%+92.9%---
Profitability & leverage
Net income margin+7.5%+9.3%+10.7%+11.6%+8.9%+8.2%+6.7%
Return on capital employed-+14.3%+19.6%+40.8%+35.7%+34.9%+34.1%
Return on net worth-+10.2%+16.6%+51.0%+42.5%+33.1%+25.5%
Debt / equity-0.090.220.540.300.000.00
Long-term debt / equity-0.000.000.000.000.000.00
Interest cover6.8310.5612.6112.1310.453.441.33
Efficiency & per share
Fixed asset turnover-28.8324.1619.2811.686.204.47
Inventory turnover-22.3525.8717.7919.2215.167.80
Debtors turnover-1.341.402.172.843.614.78
EPS (β‚Ή)2.111.401.343.981.9810.567.08
Dividend per share (β‚Ή)0.000.000.000.000.121.000.00
Book value per share (β‚Ή)0.0014.7412.649.895.7038.5927.80
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue10085.9674.4973.7351.8025.1818.14
Revenue growth+16.5%+15.4%+1.0%+42.3%+105.7%+38.8%-
Other income1.581.491.210.830.440.170.07
Total expenses87.4774.5563.3961.1745.6721.8716.45
Employee cost0.0037.1031.8628.2519.5112.0511.37
EBITDA12.6611.4111.1012.566.133.311.69
EBITDA margin+12.6%+13.3%+14.9%+17.0%+11.8%+13.2%+9.3%
Depreciation0.200.260.330.380.380.360.28
Interest0.640.840.480.320.420.160.02
Profit before tax13.4011.8011.5012.695.772.961.46
Tax3.433.032.743.301.460.780.42
Net profit11.768.778.769.494.312.181.04
Net profit margin+11.7%+10.2%+11.8%+12.9%+8.3%+8.7%+5.7%
EPS (β‚Ή)1.701.491.484.482.1111.426.02
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital11.7513.0014.369.289.287.111.74
Reserves & surplus90.1373.5359.9415.516.895.152.89
Shareholders' funds (net worth)10288.1274.3024.7916.1712.264.63
Secured loans0.000.000.000.000.000.000.00
Unsecured loans1.903.313.774.010.980.000.00
Total debt1.903.313.774.010.980.000.00
Total liabilities10491.7578.3829.0817.1812.394.70
Assets
Gross block3.233.083.083.044.614.214.07
Net block0.560.610.810.970.860.800.97
Capital work in progress11.825.412.290.000.000.000.00
Investments23.261.471.491.490.391.350.30
Inventories4.794.460.992.724.591.042.34
Sundry debtors73.6666.8064.3242.1026.3310.533.57
Cash & bank balances4.1127.0823.101.021.903.881.48
Loans & advances5.597.706.963.104.420.380.13
Total current assets88.1510695.3748.9437.2415.837.52
Total current liabilities23.1123.8523.8723.7426.307.365.62
Net working capital65.0482.1971.5025.2010.948.471.90
Total assets10491.7578.3829.0817.1812.394.70
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash27.0824.972.426.753.841.481.92
Net cash from operating activities4.803.12(14.61)(5.28)2.065.293.77
Net cash from investing activities(28.80)(3.60)(1.59)(1.31)0.25(8.18)(4.20)
Net cash from financing activities1.022.5838.762.270.595.290.00
Net change in cash(22.97)2.1122.55(4.33)2.902.40(0.43)
Closing cash4.1127.0823.101.021.903.881.48
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+16.5%+15.4%+1.0%+42.3%+105.7%+38.8%-
EBITDA growth+11.0%+2.8%-11.6%+104.9%+85.2%+95.9%-
PBT growth+13.6%+2.6%-9.4%+119.9%+94.9%+102.7%+9997.0%
Net income growth+34.1%+0.1%-7.7%+120.2%+97.7%+109.6%-
Revenue CAGR (3Y)+10.7%+18.4%+43.6%+59.6%---
EBITDA CAGR (3Y)+0.3%+23.0%+49.7%+95.2%---
Profitability & leverage
Net income margin+10.0%+10.2%+11.8%+12.7%+8.3%+8.7%+5.7%
Return on capital employed-+14.9%+22.3%+56.3%+41.9%+36.5%+31.7%
Return on net worth-+10.8%+18.4%+59.8%+47.8%+37.3%+22.7%
Debt / equity-0.040.080.120.030.000.00
Long-term debt / equity-0.000.000.000.000.000.00
Interest cover5.147.534.462.637.305.421.42
Efficiency & per share
Fixed asset turnover-28.1824.3419.2811.756.084.46
Inventory turnover-31.5440.1620.1718.4014.907.75
Debtors turnover-1.311.402.152.813.575.08
EPS (β‚Ή)1.701.491.484.482.1111.426.02
Dividend per share (β‚Ή)0.000.000.000.000.120.000.00
Book value per share (β‚Ή)0.0014.8612.679.605.3836.9326.64

Timeline of Canarys

4 dated milestones of Canarys across 35 years, from founding to its latest funding, stage changes and deals.

  1. Founded Canarys is founded.
  2. Funding First funding round of $58K.
  3. Milestone Reaches Minicorn status.
  4. IPO Lists on the stock exchange (IPO).

Competitors of Canarys

Canarys has 3 listed competitors in our database, 3 of them funded. They include Happiest Minds, GirnarSOFT and Datamatics.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
happiestminds.com2011Bengaluru, India$64.83M4,517
IT outsourcing services are delivered across multiple business lines.
girnarsoft.com2007Jaipur, India$736.02M6,709
Provider of website, web & mobile application development, BI, and digital marketing services
datamatics.com1975Mumbai, India$3M5,875
Cloud-based text analytics and cognitive automation services are provided.
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Detailed competitors of Canarys

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Web traffic of Canarys

The website of Canarys (ecanarys.com) receives about 9.7K visits a month.

  • Monthly visits
    9.7K

    ▲ 3.8% vs previous month

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β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’.comβ€’β€’%β€’.β€’M#‒‒‒‒‒–
β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’.comβ€’β€’%β€’.β€’M#‒‒‒‒‒–
β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’.comβ€’β€’%β€’.β€’M#‒‒‒‒‒–
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Top companies in Internet Browsers & Utility Software

2 companies that operate in the same segment as Canarys (Internet Browsers & Utility Software) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Customizable smart lock screen experiences are developed for mobile devices.
2019Bengaluru, Karnataka, IndiaUSD 390 MUSD 73.11 M493
Keyboard platform for expression assistance and recommendations is developed.
2012Gurugram, Haryana, IndiaUSD 26.74 MUSD 3.69 M81
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Frequently Asked Questions about Canarys

Canarys was founded in 1988 and raised its 1st funding round 18 years after it was founded.

Canarys is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.

Sheshadri Srinivas is the CEO of Canarys, as recorded in our data.

Canarys is a funded company, having raised a total of $57.56K across 1 funding round to date. The company's 1st funding round was a Angel Round of $57.56K, raised on Jul 2006.

Canarys has 265 employees.

The primary company behind Canarys, Canarys Automations Limited, reported revenue of β‚Ή200 Cr for FY 2026, up 122% year on year.

Canarys was founded in 1988 and is based in Bengaluru, India. IT services are delivered, emphasizing digital transformation, system modernization, and process automation. Operational efficiency is supported for businesses across sectors. Leadership includes founder Raman Subbarao Metikurke as Managing Director and Sheshadri Srinivas as CEO. Operations focus on enabling technology-driven improvements in client workflows.

Canarys's top competitors include Happiest Minds, GirnarSOFT and Datamatics.

Canarys offers DevOps Solutions, Automation Services, and Modernization Solutions.

Yes, Canarys is publicly traded on NSE under the ticker symbol CANARYS.

Canarys has 2 investors. Key investors include Nirmala Krishnan, and Arun D K.

The valuation of Canarys is $2.23M as of Jul 2006.

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