IKIO Technologies Ltd.
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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 is almost debt free
- Latest quarter profit grew 37.1% YoY, showing strong momentum
- Working capital cycle has improved - days down from 290 to 183
- Company generates healthy free cash flow
- Company comfortably covers its interest (7.6x coverage)
CONS
- A large part of profit comes from other income (74.3% of PBT)
- Company has a low return on equity of 6.0% over last 3 years
- Company has a low return on capital employed of 8.8%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.46x)
- Company has delivered a poor profit growth of -6.4% over past five years
- Equity base is being diluted - shares outstanding up 18.9%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SYRMA | 1622.10 | 84.97 | 31279.03 | 0.09 | 105.69 | 111.72 | 1588.62 | 68.29 | 17.70 | 10.17 |
| KAYNES | 3606.20 | 69.93 | 24174.04 | 0.00 | 56.43 | -24.37 | 946.02 | 40.47 | 13.38 | 15.60 |
| AVALON | 2292.85 | 114.78 | 15335.11 | 0.00 | 34.87 | 145.31 | 484.41 | 49.83 | 20.34 | 11.96 |
| UTLSOLAR | 451.20 | 47.05 | 13847.41 | 0.00 | 577.94 | — | 13456.93 | — | 40.63 | 18.94 |
| CYIENTDLM | 944.05 | 91.28 | 7494.19 | 0.00 | 16.29 | 118.21 | 373.80 | 34.25 | 10.41 | 9.93 |
| VIKRAMSOLR | 166.60 | 16.92 | 6036.82 | 0.00 | 19.78 | -85.17 | 1563.09 | 37.89 | 34.07 | 8.06 |
| SAATVIKGL | 415.55 | 21.29 | 5281.85 | 0.00 | 5.36 | -95.49 | 511.01 | -44.20 | 55.18 | 6.62 |
| WEBELSOLAR | 78.27 | 11.22 | 3398.20 | 0.32 | 77.79 | — | 372.60 | 115.39 | 63.74 | 33.70 |
| KERNEX | 1713.80 | 15.10 | 2879.80 | 0.00 | 109.85 | 1382.00 | 503.58 | 800.38 | 23.69 | 32.33 |
| INA | 90.74 | 9.99 | 2000.38 | 0.00 | 380.25 | 796.94 | 7406.98 | 1766.82 | 34.98 | 9.74 |
| MODINSULAT | 422.25 | 21.14 | 1990.65 | 0.00 | 29.60 | 94.43 | 188.30 | 33.19 | 10.53 | 16.89 |
| IKIO | 219.65 | 36.51 | 1697.47 | 0.00 | 11.05 | 364.51 | 169.29 | 40.91 | 10.02 | 12.97 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 62 | 68 | 59 | 53 | 67 | 58 | 45 | 38 | 39 | 49 | 44 | 38 | 45 | |
| 52 | 57 | 54 | 49 | 59 | 53 | 41 | 37 | 37 | 45 | 42 | 36 | 42 | |
| Operating Profit | 10 | 10 | 5 | 3 | 7 | 5 | 4 | 1 | 2 | 4 | 3 | 2 | 3 |
| OPM % | 16.16% | 15.12% | 9.17% | 5.87% | 10.88% | 8.89% | 8.53% | 3.63% | 4.14% | 8.55% | 5.84% | 5.93% | 5.95% |
| 2 | 7 | 5 | 5 | 6 | 5 | 4 | 4 | 4 | 4 | 4 | 3 | 3 | |
| Interest | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 9 | 15 | 9 | 6 | 12 | 8 | 6 | 4 | 4 | 6 | 5 | 4 | 5 |
| Tax % | 26.30% | 28.06% | 23.19% | 29.58% | 26.84% | 16.27% | 20.93% | 23.19% | 24.89% | 24.30% | 24.80% | 25.26% | 17.15% |
| Net Profit | 7 | 11 | 7 | 5 | 9 | 7 | 5 | 3 | 3 | 5 | 4 | 3 | 5 |
| 0.88 | 1.37 | 0.92 | 0.60 | 1.12 | 0.86 | 0.66 | 0.41 | 0.43 | 0.63 | 0.48 | 0.38 | 0.58 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 141 | 160 | 220 | 241 | 241 | 208 | 170 | 176 | |
| 114 | 129 | 180 | 202 | 212 | 190 | 159 | 164 | |
| Operating Profit | 26 | 30 | 40 | 39 | 29 | 18 | 11 | 12 |
| OPM % | 18.73% | 18.97% | 18.26% | 16.13% | 11.91% | 8.48% | 6.26% | 6.64% |
| 0 | 0 | 1 | 3 | 19 | 20 | 15 | 13 | |
| Interest | 2 | 1 | 1 | 6 | 6 | 4 | 3 | 3 |
| Depreciation | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 |
| Profit before Tax | 22 | 28 | 38 | 33 | 39 | 30 | 20 | 21 |
| Tax % | 27.58% | 25.53% | 26.28% | 25.17% | 26.76% | 22.29% | 24.78% | 22.72% |
| Net Profit | 16 | 21 | 28 | 25 | 29 | 24 | 15 | 16 |
| EPS | 6.40 | 8.23 | 4.31 | 3.79 | 3.71 | 3.05 | 1.91 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 26.95% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 1%
- 3 Years:
- -11%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- -6%
- 3 Years:
- -16%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -15%
- 1 Year:
- 11%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 18%
- 3 Years:
- 6%
- Last Year:
- 3%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0 | 0 | 25 | 65 | 77 | 77 | 77 |
| 28 | 48 | 51 | 36 | 403 | 398 | 413 | |
| 8 | 5 | 16 | 24 | 10 | 5 | 0 | |
| Trade Payables | 14 | 18 | 14 | 18 | 13 | 7 | 10 |
| 2 | 3 | 6 | 5 | 5 | 5 | 8 | |
| Total Liabilities | 51 | 74 | 112 | 149 | 508 | 492 | 509 |
| 15 | 15 | 17 | 18 | 17 | 16 | 14 | |
| 0 | 0 | 0 | 13 | 127 | 211 | 265 | |
| 17 | 32 | 56 | 44 | 48 | 38 | 33 | |
| 0 | 0 | 0 | 0 | 22 | 18 | 13 | |
| Cash & Bank | 7 | 0 | 1 | 0 | 184 | 97 | 43 |
| 12 | 26 | 38 | 74 | 109 | 113 | 141 | |
| Total Assets | 51 | 74 | 112 | 149 | 508 | 492 | 509 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 21 | 8 | 3 | 63 | -7 | 19 | 19 | |
| Cash from Investing | -4 | -3 | -5 | -56 | -314 | -9 | -3 |
| Cash from Financing | -5 | -3 | 10 | 3 | 329 | -18 | -8 |
| 5 | -6 | 0 | -1 | 9 | -8 | 8 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - IKIO Technologies Limited has informed the Exchange about Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015 Group Investors/Analysts meet Outcome
2026-09-07 - IKIO Technologies Limited has informed the Exchange about Intimation of plant visit of Analyst(s) / Investor(s) under Regulation 30 of the SEBI (LODR) Regulations, 2015
2026-09-07 - IKIO Technologies Limited has informed the Exchange about Intimation of Schedule of Analyst (s) /Institutional Investor Meeting under the SEBI (LODR), Regulations 2015
2026-09-07 - IKIO Technologies Limited has informed the Exchange about General Updates- Intimation of Postponement of Analyst/Institutional Investor Meetings dated September 08, 2026 under the SEBI (LODR), Regulations 2015
2026-09-03 - IKIO Technologies Limited has informed the Exchange about General Updates- Intimation of Schedule of Analyst/Institutional Investor Meetings under the SEBI (LODR), Regulations 2015
2026-09-02 - IKIO Technologies Limited has informed the Exchange about change in Senior Management Personnel of the Company
2026-09-02 - IKIO Technologies Limited has informed the Exchange about Resignation of Director/KMP/SMP
2026-08-31 - IKIO Technologies Limited has informed the Exchange about General Updates- Clarification on Volume Movement Letter- BSE Letter Ref. No.: L/SURV/ONL/PV/SG/ 2026-2027 / 323 dated August 31, 2026
2026-08-31 - Significant movement in price has been observed in IKIO Technologies Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. IKIO Technologies Limited has submitted their response.
News
Recent coverage and analyst commentary for IKIO
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IKIO Technologies Ltd.
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