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 | 1588.65 | 83.22 | 30634.01 | 0.09 | 105.69 | 111.72 | 1588.62 | 68.29 | 17.70 | 10.17 |
| KAYNES | 3500.00 | 67.87 | 23462.13 | 0.00 | 56.43 | -24.37 | 946.02 | 40.47 | 13.38 | 15.60 |
| AVALON | 2265.95 | 113.44 | 15155.19 | 0.00 | 34.87 | 145.31 | 484.41 | 49.83 | 20.34 | 11.96 |
| UTLSOLAR | 446.70 | 46.58 | 13709.30 | 0.00 | 577.94 | — | 13456.93 | — | 36.46 | 18.94 |
| CYIENTDLM | 904.15 | 87.42 | 7177.45 | 0.00 | 16.29 | 118.21 | 373.80 | 34.25 | 10.41 | 9.93 |
| VIKRAMSOLR | 166.80 | 16.94 | 6044.07 | 0.00 | 19.78 | -85.17 | 1563.09 | 37.89 | 34.07 | 8.06 |
| SAATVIKGL | 396.30 | 20.30 | 5037.17 | 0.00 | 5.36 | -95.49 | 511.01 | -44.20 | 55.18 | 6.62 |
| WEBELSOLAR | 75.79 | 10.86 | 3290.52 | 0.33 | 77.79 | — | 372.60 | 115.39 | 63.74 | 33.70 |
| KERNEX | 1734.35 | 15.28 | 2914.34 | 0.00 | 109.85 | 1382.00 | 503.58 | 800.38 | 23.69 | 32.33 |
| MODINSULAT | 449.50 | 22.51 | 2119.12 | 0.00 | 29.60 | 94.43 | 188.30 | 33.19 | 10.53 | 16.89 |
| INA | 93.04 | 10.24 | 2051.08 | 0.00 | 380.25 | 796.94 | 7406.98 | 1766.82 | 34.98 | 9.74 |
| IKIO | 224.45 | 37.30 | 1734.57 | 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:
- 0%
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
2026-09-11 - IKIO Technologies Limited has informed the Exchange about Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015 Plant Visit Outcome
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
News
Recent coverage and analyst commentary for IKIO
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IKIO Technologies Ltd.
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