Indiqube Spaces Ltd.

•

indiqube.comBSE: 544454NSE: INDIQUBE

Market Cap₹ 4,276 Cr.

Current Price

High / Low₹ 244 / 131

Stock P/E0.0

Book Value₹ 23

Price to Book5.67

Dividend Yield0.00 %

ROCE54.6 %

ROE-45.0 %

Face Value₹ 1

Add ratio to table

ABOUT

AI Sector View

AI GENERATED

Services

Buy

Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.

Confidence

72%

View full sector analysis →

PROS

Company has a healthy return on capital (ROCE) of 22.3%
Operating margins have improved to 60.7% from 44.5%
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Company has a low return on equity of -129.1% over last 3 years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -3.53x)
Interest coverage is weak at 0.7x - earnings barely cover interest
Working capital days have increased from -206 to -96 days
Stock is trading at 5.7x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ServicesBusiness ServicesBusiness Support

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	PFOCUS	310.60	209.28	24188.72	0.00	-457.78	-514.43	12668.15	1196.88	2.74	23.76
2.	SAGILITY	45.15	21.28	21136.20	0.33	216.81	45.94	1963.48	27.59	13.82	22.32
3.	HORIZONIND	55.65	244.03	16043.35	0.00	-116.27	—	2005.46	—	3.32	80.26
4.	SYNGENE	382.65	69.89	15446.40	0.33	-9.00	-110.38	736.00	-15.84	9.48	12.34
5.	INDGN	578.05	34.74	13929.08	0.39	116.20	-0.17	1063.10	39.73	18.92	16.39
6.	IGIL	314.20	22.27	13578.46	1.59	1657.36	1209.83	3707.76	1132.17	77.00	60.35
7.	NESCO	1102.75	18.65	7769.97	0.63	99.96	3.97	211.80	9.55	19.23	48.33
8.	LEAPIND	144.55	102.15	6367.95	0.00	247.33	—	2034.13	—	9.32	51.19
9.	SPARC	196.10	4.02	6363.87	0.00	-20.78	59.94	39.92	314.11	163.94	-85.17
10.	SMARTWORKS	530.60	217.74	6069.06	0.00	131.48	3232.71	5462.48	1340.49	61.12	63.33
11.	JUSTDIAL	665.10	15.59	5656.61	0.00	115.74	38.44	270.27	16.23	12.88	26.17
12.	INDIQUBE	201.70	0.00	4275.99	0.00	-23.88	35.03	422.69	36.66	54.58	61.15

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	242	252	268	297	309	350	390	401	423
	98	107	110	127	121	142	153	153	479
Operating Profit	144	145	158	170	188	208	237	248	-57
OPM %	59.46%	57.41%	58.89%	57.24%	60.82%	59.37%	60.85%	61.79%	-13.40%
	9	12	13	10	15	16	21	24	26
Interest	74	79	86	91	110	107	112	119	127
Depreciation	118	122	117	130	143	156	169	177	188
Profit before Tax	-39	-44	-33	-41	-50	-39	-23	-24	-31
Tax %	-6.97%	-19.83%	58.16%	24.29%	26.44%	22.80%	26.10%	5.19%	21.72%
Net Profit	-42	-53	-14	-31	-37	-30	-17	-23	-24
	-2.30	-2.86	-0.75	-1.72	-2.01	-1.48	-0.81	-1.07	-1.13

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	344	580	831	1,059	1,451	1,564
	215	343	604	443	569	928
Operating Profit	129	237	226	617	881	637
OPM %	37.63%	40.83%	27.25%	58.20%	60.75%	40.70%
	11	22	37	44	77	88
Interest	143	188	256	330	448	466
Depreciation	221	298	392	487	645	690
Profit before Tax	-224	-228	-385	-157	-136	-116
Tax %	15.90%	13.08%	11.26%	11.24%	21.60%	19.55%
Net Profit	-188	-198	-342	-140	-106	-93
EPS	-16.13	-15.28	-1866.16	-10.72	-5.02	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 36%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -9%

RETURN ON EQUITY

10 Years:: —
5 Years:: -77%
3 Years:: -129%
Last Year:: -45%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	0	0	0	13	21
	-238	-312	114	-46	484
	2,085	2,872	2,942	3,942	5,063
Trade Payables	24	27	44	54	80
	394	333	467	595	686
Total Liabilities	2,265	2,921	3,567	4,559	6,334
	2,006	2,546	3,085	3,955	5,213
Capital Work in Progress	22	21	74	114	96
	2	1	1	0	0
	0	0	0	0	1
	0	0	59	79	113
Cash & Bank	0	10	0	6	385
	235	342	348	405	526
Total Assets	2,265	2,921	3,567	4,559	6,334

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	207	333	542	612	920
Cash from Investing	-47	-174	-193	-259	-737
Cash from Financing	-176	-149	-365	-337	-178
	-21	1	-15	15	6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jul 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	60.60	60.60	60.04	60.10	60.11
	22.88	2.67	2.30	2.18	2.16
	11.64	14.36	14.65	14.68	14.34
Government	0.00	0.00	0.00	0.00	0.00
	4.88	22.36	23.00	23.05	23.39

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-11 - Indiqube Spaces Limited has informed the Exchange about Schedule of meets and Presentation

2026-09-03

Clarification - Financial Results

2026-09-03 - The Exchange has sought clarification from Indiqube Spaces Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.

2026-09-03

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-03 - Indiqube Spaces Limited has informed the Exchange about Schedule of meet on September 08, 2026.

2026-08-19

Press Release

2026-08-19 - Indiqube Spaces Limited has informed the Exchange regarding a press release dated August 12, 2026, titled "IndiQube Deepens Partnership With Leading Global Audio Series Platform; Secures 1,300 Seats Workspace Deal In Bengaluru".

2026-08-18

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-18 - Indiqube Spaces Limited has informed the Exchange about Transcript of Earnings call held on August 13, 2026

2026-08-13

Shareholders meeting

2026-08-13 - Indiqube Spaces Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 12, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Audio Recording of Earnings Conference Call for the quarter ended June 30, 2026

2026-08-13

Copy of Newspaper Publication

2026-08-13 - Copy of Newspaper Publication: Financial Results for the quarter ended June 30, 2026

2026-08-12

Monitoring Agency Report

2026-08-12 - Monitoring Agency Report for the quarter ended June 30, 2026

News

Recent coverage and analyst commentary for INDIQUBE

Loading news…

🤖

AI Stock Analyst

Indiqube Spaces Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

PFOCUS

310.60

209.28

24188.72

0.00

-457.78

-514.43

12668.15

1196.88

2.74

23.76

SAGILITY

45.15

21.28

21136.20

0.33

216.81

45.94

1963.48

27.59

13.82

22.32

HORIZONIND

55.65

244.03

16043.35

0.00

-116.27

—

2005.46

—

3.32

80.26

SYNGENE

382.65

69.89

15446.40

0.33

-9.00

-110.38

736.00

-15.84

9.48

12.34

INDGN

578.05

34.74

13929.08

0.39

116.20

-0.17

1063.10

39.73

18.92

16.39

IGIL

314.20

22.27

13578.46

1.59

1657.36

1209.83

3707.76

1132.17

77.00

60.35

NESCO

1102.75

18.65

7769.97

0.63

99.96

3.97

211.80

9.55

19.23

48.33

LEAPIND

144.55

102.15

6367.95

0.00

247.33

—

2034.13

—

9.32

51.19

SPARC

196.10

4.02

6363.87

0.00

-20.78

59.94

39.92

314.11

163.94

-85.17

SMARTWORKS

530.60

217.74

6069.06

0.00

131.48

3232.71

5462.48

1340.49

61.12

63.33

JUSTDIAL

665.10

15.59

5656.61

0.00

115.74

38.44

270.27

16.23

12.88

26.17

INDIQUBE

201.70

0.00

4275.99

0.00

-23.88

35.03

422.69

36.66

54.58

61.15

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

242

252

268

297

309

350

390

401

423

107

110

127

121

142

153

479

Operating Profit

144

145

158

170

188

208

237

248

-57

OPM %

59.46%

57.41%

58.89%

57.24%

60.82%

59.37%

60.85%

61.79%

-13.40%

Interest

110

107

112

119

127

Depreciation

118

122

117

130

143

156

169

177

188

Profit before Tax

-39

-44

-33

-41

-50

-39

-23

-24

-31

Tax %

-6.97%

-19.83%

58.16%

24.29%

26.44%

22.80%

26.10%

5.19%

21.72%

Net Profit

-42

-53

-14

-31

-37

-30

-17

-23

-24

-2.30

-2.86

-0.75

-1.72

-2.01

-1.48

-0.81

-1.07

-1.13

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

344

580

831

1,059

1,451

1,564

215

343

604

443

569

928

Operating Profit

129

237

226

617

881

637

OPM %

37.63%

40.83%

27.25%

58.20%

60.75%

40.70%

Interest

143

188

256

330

448

466

Depreciation

221

298

392

487

645

690

Profit before Tax

-224

-228

-385

-157

-136

-116

Tax %

15.90%

13.08%

11.26%

11.24%

21.60%

19.55%

Net Profit

-188

-198

-342

-140

-106

-93

EPS

-16.13

-15.28

-1866.16

-10.72

-5.02

—

Dividend Payout %

0.00%

—

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-238

-312

114

-46

484

2,085

2,872

2,942

3,942

5,063

Trade Payables

394

333

467

595

686

Total Liabilities

2,265

2,921

3,567

4,559

6,334

2,006

2,546

3,085

3,955

5,213

Capital Work in Progress

114

113

Cash & Bank

385

235

342

348

405

526

Total Assets

2,265

2,921

3,567

4,559

6,334

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

207

333

542

612

920

Cash from Investing

-47

-174

-193

-259

-737

Cash from Financing

-176

-149

-365

-337

-178

-21

-15

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jul 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

60.60

60.04

60.10

60.11

22.88

2.67

2.30

2.18

2.16

11.64

14.36

14.65

14.68

14.34

Government

0.00

4.88

22.36

23.00

23.05

23.39

Indiqube Spaces Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Indiqube Spaces Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI