Dear GSApte, Ambit Capital had pointed out certain discrepancies in 8k's past financial statements in a report it came up with during Sep-16. If you read all the earlier messages from the vp members on this discussion thread, you can find about that. Apart from that, I am not aware of any investor reports. Suggest that you search in Google News for all the news about this company for the past couple of years and read those.
My doubt is that, the hangover created by the above Ambit report still exists in the minds of many of the investors and they still look at this company with a "suspicious" eye and tend to disbelieve such a massive growth story. To add fuel to the fire, very few investors understand the cloud technology and its potential. These are possibly the two main reasons about the undervaluation of this stock.
I am also a person from IT industry and have some good understanding of their business model. Based on my research, I do think that, their growth for the past 4-5 years is an achievable one. However, I am not knowledgeable and competent enough to challenge any of the discrepancies being pointed out by Ambit.