Synopsis: Canarys Automations has secured a six-month order for Rs1 crore from Protiviti India, the local unit of a $2-billion global consulting firm owned by S&P 500 member Robert Half, to construct an AI-powered project-management platform on SAP. The order is minor compared to revenues but fits neatly into the company’s continuing move to AI and global enterprise clients.
Shares of Canarys Automations Ltd, with a market capitalization of Rs. 113 crore, were trading at Rs. 1,009.55, up 0.72% from the previous closing price of Rs. 1,002.30. The stock touched an intraday high of Rs. 19.5 and a low of Rs. 18.95. It is a profit making company, with a trailing twelve-month EPS of -Rs. 13.51, resulting in a negative P/E ratio of -74.73.
The Deal
In an exchange filing on June 10, 2026, Canarys Automations announced that Protiviti India had awarded it a contract to build an “Intelligent Enterprise Portfolio and Project Management” platform with AI-led data analytics to help large organisations plan and track all their projects. The SAP EPPM-based task includes data gathering, validation, and reporting. The six-month, domestic, non-related party transaction is worth Rs 1 crore.
Why does the client matter?
The weight is on the buyer, not the cheque. Protiviti is a global consulting firm with Dollar 2.3 billion in annual revenue and is a wholly owned subsidiary of Robert Half Inc. (NYSE: RHI), an S&P 500 member. It has worked with nearly eight out of ten of America’s top 100 corporations. For a micro-cap company, Canarys, which is valued at approximately ₹110 crore, gaining a customer of this level is a powerful endorsement that may lead to future business.
Financial Insight and Management Earnings Call
The audited Statement of Profit and Loss from the annual report reveals the core story. Revenue from operations increased nearly 15 percent to Rs 85.96 crore in FY25 from Rs 74.49 crore, and the total income was Rs 87.46 crore.
But net profit was very much the same at Rs8.79 crore against Rs8.77 crore, and basic earnings per share dropped to Rs 1.56 from Rs1.90 – since the number of shares increased. In short, the corporation grew its top line, but not its bottom line, that year. The transformation: in April 2025, Canarys Automation Limited had bought a 51 per cent share in a US-based AI business, Fortira.
Adding Fortira’s business and its own tech work nearly tripled its income in the first half of FY26, up about 166 per cent to Rs 101.7 crore and roughly doubled profit to Rs 9.0 crore, although it earned a little less on each rupee because it spent heavily on people, new products and going global.
The company is transforming from a local solutions company into a global, AI-powered technology corporation, according to management. The Protiviti arrangement fits that plan nicely.
Company Overview
Canarys, incorporated in 1991 and listed on NSE SME, is a Bengaluru-headquartered IT solutions company. It focuses on AI, cloud, automation and modernisation across BFSI, healthcare, manufacturing and retail. The company is still almost debt-free, and promoters own around 58 per cent.
This company is a really huge client for an order of Rs 1 crore. It’s in line with the rapid growth from Fortira and the new AI product, and it reinforces the stated path the company is on — even if this one project won’t move the statistics that much.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.are their own and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
