Dynacons Systems & Solutions Ltd

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Dynacons Systems & Solutions Ltd, founded in 1995 by Shirish Mansingh Anjaria, Dharmesh Anjaria and Parag J Dalal, is an end-to-end Indian IT infrastructure services company headquartered in Vile Parle (Mumbai) with eleven branch offices and presence in over 300 locations across India. It went through a long stretch of being a sub-scale system integrator before the FY19-FY25 inflection — sales took 24 years to reach ₹304 Cr (FY19) and only six more years to quadruple to ₹1,267 Cr (FY25). The business operates through two reported segments: System Integration & Services (the dominant ~95% of revenue) and Technology Workforce Augmentation. Underneath, four service lines do the actual work — Data Centre & Cloud Solutions (HCI, virtualisation, hybrid cloud, backup/DR — the largest contributor), Workplace Solutions (Device-as-a-Service, end-user computing, managed print, mobility), Networking & Security(firewalls, SDN, security audit, intrusion detection) and Application & Cybersecurity Services (ERP implementation, custom development, the recent Cygeniq AI-cyber tie-up).

Key peers

Bar chart of ROE, ROCE and operating margin for Dynacons (DSSL) vs Allied Digital, Datamatics, Magellanic and Mindteck, with DSSL's returns highest at about 37 to 39%

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Business and industry tab of the Dynacons research report: company overview, with sales growing from Rs 304 Cr in FY19 to Rs 1,267 Cr in FY25

Disclaimer

This report is for educational and informational purposes only. It does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security. The analysis represents the author’s personal views based on publicly available information believed to be reliable, but no representation is made as to its accuracy or completeness.

Any fair value ranges, scenarios, or estimates shown are analytical model outputs based on assumptions that may not materialise — they are not price targets or guarantees of future performance. Markets price securities; this report is intended only to inform the reader’s own independent assessment.

Securities investments are subject to market risks, including the possible loss of principal. Past performance is not indicative of future results. Readers should conduct their own due diligence and consult a SEBI-registered investment adviser before making any investment decision.

The author may hold positions in the securities discussed. This report is not produced under any SEBI Research Analyst registration unless explicitly stated. I will not be giving you any follow up on this report

This is a record of the author's thinking in May 2026, kept as written. It is not a recommendation to buy or sell, and the author may hold the securities discussed. See the disclosures.

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