Ideaforge Technology Ltd.
•Add ratio to table
ABOUT
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company has delivered good sales growth of 45.4% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.38x)
- Working capital cycle has improved - days down from 800 to 461
- Institutional investors have been accumulating - FII+DII up 5.5pp
- Company maintains a comfortable, low leverage position
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on capital employed of 1.4%
- Company has a low return on equity of 0.2% over last 3 years
- Interest coverage is weak at -1.1x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HAL | 4778.00 | 34.28 | 319540.70 | 0.94 | 1589.66 | 14.88 | 5515.17 | 14.45 | 31.99 | 27.89 |
| BEL | 405.50 | 48.23 | 296411.53 | 0.62 | 1054.53 | 8.82 | 5546.98 | 24.94 | 36.68 | 25.22 |
| BDL | 1254.00 | 88.27 | 45966.94 | 0.39 | 118.79 | 547.36 | 572.24 | 147.63 | 13.91 | 14.52 |
| DATAPATTNS | 4516.80 | 3287.72 | 25286.84 | 0.22 | 220.60 | 765.10 | 1160.30 | 1068.13 | 23.18 | 27.04 |
| ZENTEC | 1829.90 | 91.71 | 16522.70 | 0.05 | 31.85 | -39.99 | 141.64 | -10.48 | 16.83 | 27.13 |
| AEQUS | 245.30 | 330.36 | 16451.43 | 0.00 | -532.28 | -6067.26 | 3955.45 | 1486.69 | 1.50 | 4.47 |
| ASTRAMICRO | 1643.20 | 82.53 | 15601.36 | 0.15 | 12.35 | -24.12 | 176.66 | -11.55 | 20.29 | 20.40 |
| APOLLO | 382.65 | 117.20 | 14219.26 | 0.07 | 25.22 | 42.58 | 251.29 | 88.12 | 14.05 | 21.38 |
| PARAS | 1414.15 | 120.66 | 11396.26 | 0.07 | 20.74 | 45.34 | 127.91 | 37.26 | 18.68 | 24.95 |
| UNIMECH | 1451.20 | 102.56 | 7386.90 | 0.00 | 27.86 | 45.70 | 107.62 | 70.85 | 12.10 | 36.35 |
| AXISCADES | 1689.10 | 197.71 | 7184.33 | 0.00 | -14.76 | -170.76 | 183.35 | -24.77 | 14.56 | 4.73 |
| IDEAFORGE | 769.85 | 973.25 | 3826.81 | 0.00 | -2.59 | 89.01 | 68.59 | 436.68 | -2.38 | 3.40 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 97 | 24 | 92 | 105 | 86 | 37 | 18 | 24 | 13 | 42 | 32 | 141 | 68 | |
| 69 | 32 | 71 | 87 | 83 | 51 | 33 | 41 | 29 | 49 | 55 | 78 | 82 | |
| Operating Profit | 28 | -8 | 21 | 17 | 3 | -14 | -15 | -18 | -16 | -7 | -24 | 63 | 3 |
| OPM % | 29.36% | -33.16% | 22.60% | 16.46% | 3.93% | -38.09% | -78.43% | -74.25% | -129.11% | -16.92% | -75.78% | 44.55% | 3.91% |
| Other Income | 4 | 15 | 7 | 5 | 6 | 6 | 5 | 4 | 4 | 3 | 3 | 12 | 2 |
| Interest | 2 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 1 | 2 | 2 |
| Depreciation | 5 | 5 | 6 | 6 | 7 | 7 | 7 | 8 | 10 | 11 | 11 | 12 | 14 |
| 25 | 1 | 21 | 16 | 3 | -16 | -17 | -21 | -23 | -15 | -33 | 62 | -12 | |
| Tax % | 24.73% | 33.08% | 25.15% | 28.35% | 25.20% | 25.20% | -19.55% | 4.72% | 4.39% | 1.57% | 6.00% | 2.12% | 80.25% |
| Net Profit | 19 | 1 | 16 | 12 | 2 | -12 | -21 | -20 | -22 | -15 | -31 | 60 | -2 |
| 5 | 0 | 4 | 3 | 0 | -3 | -5 | -5 | -5 | -3 | -7 | 14 | -0 | |
| Equity Capital | 38 | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 33 | 20 | 18 | 14 | 35 | 159 | 186 | 317 | 166 | 227 | 282 | |
| 25 | 20 | 27 | 27 | 46 | 85 | 138 | 257 | 208 | 211 | 264 | |
| Operating Profit | 8 | 2 | -5 | -11 | -10 | 77 | 58 | 90 | -21 | 38 | — |
| OPM % | 26 | 11 | -28 | -77 | -28 | 48 | 31 | 29 | -13 | 17 | — |
| Other Income | 1 | 2 | 4 | 2 | 1 | 2 | 10 | 30 | 21 | 22 | 20 |
| Interest | 3 | 2 | 1 | 0 | 1 | 19 | 6 | 5 | 2 | 5 | 6 |
| Depreciation | 2 | 3 | 3 | 2 | 3 | 7 | 12 | 21 | 29 | 43 | 47 |
| 3 | -3 | -9 | -14 | -14 | 50 | 41 | 65 | -52 | -10 | 1 | |
| Tax % | 32 | 21 | -10 | 0 | 0 | 12 | 22 | 26 | 2 | 20 | -737 |
| Net Profit | 2 | -2 | -10 | -14 | -14 | 44 | 32 | 48 | -51 | -8 | 12 |
| EPS | 231 | -246 | -1,160 | -1,267 | -1,609 | 13 | 8 | 11 | -12 | -2 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | -1 | -5 | -7 | -7 | 22 | 15 | 11 | -12 | -2 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 30%
- 5 Years:
- 45%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -8%
- 1 Year:
- 50%
RETURN ON EQUITY
- 10 Years:
- 1%
- 5 Years:
- 12%
- 3 Years:
- 0%
- Last Year:
- -1%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 0 | 0 | 0 | 0 | 0 | 0 | 21 | 43 | 43 | 43 |
| 22 | 89 | 79 | 65 | 52 | 149 | 273 | 611 | 563 | 560 | |
| 0 | 2 | 2 | 5 | 5 | 6 | 87 | 0 | 0 | 72 | |
| Trade Payables | 3 | 1 | 2 | 1 | 5 | 7 | 14 | 15 | 8 | 40 |
| 18 | 7 | 7 | 7 | 62 | 60 | 96 | 75 | 70 | 101 | |
| Total Liabilities | 43 | 100 | 90 | 79 | 124 | 222 | 490 | 744 | 683 | 817 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 5 | 6 | 4 | 4 | 13 | 26 | 49 | 67 | 97 | 138 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 6 | 4 | 0 |
| 0 | 54 | 24 | 12 | 0 | 11 | 125 | 95 | 137 | 140 | |
| 6 | 6 | 10 | 11 | 23 | 49 | 105 | 97 | 91 | 139 | |
| 0 | 6 | 9 | 10 | 0 | 0 | 0 | 47 | 60 | 127 | |
| Cash & Bank | 15 | 11 | 19 | 9 | 21 | 35 | 6 | 268 | 92 | 30 |
| 17 | 16 | 24 | 34 | 67 | 101 | 202 | 163 | 203 | 244 | |
| Total Assets | 43 | 100 | 90 | 79 | 124 | 222 | 490 | 744 | 683 | 817 |
| Total Debt | 13 | 8 | 3 | 5 | 50 | 6 | 87 | 0 | 0 | 72 |
| Net Working Capital | 16 | 72 | 59 | 38 | 58 | 96 | 234 | 530 | 364 | 286 |
| Contingent Liabilities | 0 | 0 | 0 | 4 | 4 | 7 | 7 | 7 | 4 | 0 |
| Book Value per Share | 2448.01 | 10077.15 | 8916.91 | 7380.41 | 5808.68 | 16710.45 | 137.91 | 152.42 | 140.58 | 139.39 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 7 | -5 | -13 | -17 | -32 | 67 | -53 | 77 | -66 | -50 | |
| Cash from Investing | -5 | -61 | 21 | 5 | -11 | -31 | -149 | -108 | -78 | 0 |
| Cash from Financing | 7 | 63 | -6 | 2 | 44 | -11 | 176 | 189 | -8 | 61 |
| 9 | -3 | 2 | -11 | 1 | 25 | -26 | 158 | -151 | 12 | |
| Free Cash Flow | -1 | -10 | -15 | -19 | -44 | 59 | -92 | 33 | -125 | -133 |
| OCF / Net Profit | 3.54 | 2.48 | 1.31 | 1.27 | 2.22 | 1.51 | -1.66 | 1.61 | 1.28 | 6.38 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -88 | -28 | -110 | -62 | -168 | -257 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 229.54 | -245.43 | -1160.24 | -1525.46 | -1603.38 | 4944.49 | 14.99 | 11.16 | -11.92 | -1.80 |
| Book Value (₹) | 2448.01 | 10077.15 | 8916.91 | 7380.41 | 5808.68 | 16710.45 | 137.91 | 152.42 | 140.58 | 139.39 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 2.10 | 0.37 | -3.58 | -5.60 | -5.54 | 25.50 | 20.55 | 16.09 | -5.14 | 8.14 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 25.83% | 0.99% | -48.94% | -92.98% | -28.48% | 48.02% | 31.43% | 18.92% | -25.39% | 7.06% |
| Net Margin % | 6.20% | -10.67% | -56.50% | -96.04% | -40.90% | 27.60% | 17.20% | 15.09% | -30.96% | -3.43% |
| ROE % | 12.88% | -3.92% | -12.22% | -18.73% | -24.37% | 43.90% | 14.44% | 10.10% | -8.16% | -1.29% |
| ROCE % | 21.85% | -1.03% | -9.13% | -16.59% | -14.20% | 49.57% | 16.06% | 12.88% | -7.80% | -0.76% |
| 5.42% | -3.04% | -10.82% | -16.02% | -14.12% | 25.47% | 8.98% | 7.75% | -7.20% | -1.04% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 117 | 114 | 151 | 249 | 177 | 50 | 77 | 61 | 118 | 150 |
| Inventory Days | 52 | 113 | 166 | 273 | 179 | 83 | 151 | 116 | 207 | 185 |
| Payable Days | 66 | 104 | 99 | 78 | 56 | 54 | 67 | 34 | 38 | 93 |
| 102 | 123 | 219 | 444 | 301 | 79 | 161 | 143 | 286 | 242 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.60x | 0.09x | 0.04x | 0.08x | 0.97x | 0.04x | 0.29x | 0.00x | 0.00x | 0.12x |
| Interest Coverage (x) | 1.91x | -0.33x | -7.89x | -30.46x | -10.87x | 3.63x | 8.02x | 14.72x | -21.51x | -1.06x |
| 2.21x | 9.92x | 8.59x | 5.21x | 3.42x | 3.01x | 2.56x | 8.58x | 8.19x | 2.53x | |
| GROWTH | ||||||||||
| Revenue Growth % | 104.04% | -37.58% | -10.71% | -22.55% | 147.83% | 356.43% | 16.66% | 70.43% | -47.66% | 36.71% |
| Operating Profit Growth % | 38.98% | -73.48% | -330.88% | -109.12% | 7.89% | 869.66% | -23.64% | 54.61% | -123.14% | 281.58% |
| Net Profit Growth % | -44.73% | -207.41% | -372.74% | -31.64% | -5.53% | 408.03% | -27.31% | 49.57% | -207.37% | 84.87% |
| 0.00% | -206.92% | -372.74% | -31.48% | 0.00% | 0.00% | 0.00% | -25.58% | -206.88% | 84.94% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 61.64x | 0.00x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 4.51x | 2.46x | 2.67x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | -1.52x | 3.16x | 0.29x | 0.00x | 0.00x | 0.00x | 29.66x | -66.92x | 43.51x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-18 - Ideaforge Technology Limited has informed the Exchange about Transcript
2026-08-14 - Ideaforge Technology Limited has informed the Exchange regarding allotment of 14135 securities pursuant to ESOP/ESPS at its meeting held on August 14, 2026
2026-08-11 - Ideaforge Technology Limited has informed the Exchange about Link of Recording
2026-08-10 - Ideaforge Technology Limited has informed the Exchange regarding a press release dated August 10, 2026, titled "Press release for the financial results for the quarter ended June 30, 2026".
2026-08-10 - Ideaforge Technology Limited has informed the Exchange about Investor Presentation
2026-08-10 - Ideaforge Technology Limited has submitted to the Exchange, the financial results for the period ended June 30, 2026.
2026-08-05 - Ideaforge Technology Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 05, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-05 - Ideaforge Technology Limited has informed the Exchange regarding Proceedings of 19th Annual General Meeting held on August 05, 2026
2026-08-04 - Ideaforge Technology Limited has informed the Exchange about Schedule of meet
News
Recent coverage and analyst commentary for IDEAFORGE
Loading news…
AI Stock Analyst
Ideaforge Technology Ltd.
Sign in to Chat with AI
Log in with your 5nance account to ask institutional questions about performance, financials, and outlook.
✨ Sign In to ChatFree 5nance Account