Innovana Thinklabs Ltd.
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ABOUT
AI Sector View
AI GENERATEDInformation Technology
IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.
PROS
- Company has delivered good profit growth of 21.0% CAGR over last 5 years
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 37.9%
- Company has a good return on equity (ROE) track record: 3 Years ROE 28.7%
- Operating margins have improved to 76.7% from 55.0%
CONS
- Receivables are growing faster than sales - a possible quality concern
- Recent results are weak - TTM profit is down 13.4% versus prior year
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.14x)
- Working capital days have increased from 194 to 281 days
- Company has delivered a poor sales growth of 1.2% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TCS | 2202.00 | 16.00 | 796702.87 | 5.00 | 13420.00 | 4.69 | 72275.00 | 13.93 | 66.25 | 25.67 |
| INFY | 1038.20 | 13.91 | 421325.69 | 4.62 | 7775.00 | 12.29 | 48211.00 | 14.03 | 42.84 | 23.66 |
| HCLTECH | 1207.00 | 18.80 | 327539.38 | 4.47 | 4626.00 | 20.34 | 34579.00 | 13.94 | 31.20 | 19.87 |
| WIPRO | 167.50 | 12.55 | 165902.38 | 6.57 | 3356.30 | 0.59 | 24478.60 | 10.59 | 18.49 | 18.93 |
| TECHM | 1539.50 | 29.38 | 150891.59 | 3.31 | 1486.30 | 31.67 | 15711.90 | 17.68 | 23.04 | 17.43 |
| LTM | 4301.15 | 24.39 | 127581.28 | 1.74 | 1468.60 | 17.06 | 11608.00 | 17.96 | 30.25 | 17.75 |
| OFSS | 11760.00 | 30.01 | 102409.76 | 3.40 | 1415.50 | 120.52 | 3125.20 | 68.73 | 45.50 | 60.04 |
| PERSISTENT | 5537.45 | 45.42 | 87353.27 | 0.72 | 483.04 | 13.67 | 4303.23 | 29.09 | 35.09 | 16.19 |
| COFORGE | 1847.40 | 46.58 | 81835.77 | 0.86 | 531.70 | 49.19 | 5527.70 | 49.86 | 24.70 | 19.14 |
| MPHASIS | 2294.10 | 22.92 | 43790.98 | 2.70 | 489.51 | 10.82 | 4384.05 | 17.46 | 23.31 | 18.15 |
| LTTS | 3334.95 | 26.80 | 35379.24 | 1.74 | 357.10 | 12.97 | 2940.10 | 11.47 | 27.70 | 18.65 |
| INNOVANA | 325.10 | 21.80 | 671.66 | 0.00 | 5.54 | -57.80 | 38.97 | 21.44 | 31.14 | 19.96 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 17 | 14 | 12 | 6 | 13 | 9 | 11 | 11 | 12 | 11 | 13 | 11 | 10 | |
| 4 | 6 | 4 | 3 | 3 | 2 | 2 | 3 | 2 | 3 | 3 | 3 | 4 | |
| Operating Profit | 12 | 9 | 8 | 2 | 10 | 6 | 9 | 8 | 9 | 8 | 10 | 8 | 6 |
| OPM % | 74.07% | 60.70% | 67.87% | 42.46% | 80.06% | 73.42% | 80.83% | 71.06% | 80.54% | 75.81% | 76.01% | 74.39% | 61.39% |
| 1 | 3 | 3 | 3 | 2 | 4 | 1 | 1 | 1 | 4 | 2 | 2 | 1 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 13 | 11 | 11 | 5 | 12 | 10 | 10 | 9 | 11 | 12 | 11 | 10 | 7 |
| Tax % | 26.02% | 25.75% | 23.71% | 21.37% | 24.53% | 25.56% | 26.54% | 25.92% | 25.28% | 25.35% | 26.16% | 30.85% | 27.68% |
| Net Profit | 10 | 8 | 8 | 4 | 9 | 7 | 7 | 6 | 8 | 9 | 8 | 7 | 5 |
| 4.70 | 4.12 | 4.11 | 1.85 | 4.28 | 3.58 | 3.43 | 3.14 | 3.89 | 4.44 | 3.86 | 3.38 | 2.56 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 7 | 16 | 31 | 41 | 41 | 34 | 31 | 42 | 49 | 43 | 44 | |
| 6 | 14 | 20 | 29 | 26 | 25 | 18 | 22 | 17 | 10 | 12 | |
| Operating Profit | 1 | 1 | 11 | 12 | 15 | 9 | 13 | 20 | 32 | 33 | 32 |
| OPM % | 14.50% | 7.95% | 35.55% | 28.96% | 36.30% | 26.83% | 42.02% | 46.93% | 64.93% | 76.70% | 72.38% |
| 0 | 0 | 0 | 1 | 2 | 4 | 4 | 5 | 10 | 8 | 10 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 1 | 1 | 11 | 12 | 15 | 12 | 15 | 23 | 40 | 40 | 40 |
| Tax % | 31.80% | 37.87% | 28.86% | 28.11% | 25.62% | 25.39% | 25.50% | 25.57% | 24.73% | 25.55% | 27.36% |
| Net Profit | 1 | 1 | 8 | 9 | 11 | 9 | 11 | 17 | 30 | 30 | 29 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 8.91 | 11.10 | 16.91 | 14.79 | 14.43 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 14.53% | 13.51% | 2.95% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 1%
- 3 Years:
- 12%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 21%
- 3 Years:
- 37%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 36%
- 3 Years:
- -22%
- 1 Year:
- -41%
RETURN ON EQUITY
- 10 Years:
- 42%
- 5 Years:
- 26%
- 3 Years:
- 29%
- Last Year:
- 25%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0 | 0 | 4 | 4 | 10 | 10 | 10 | 20 | 20 | 20 |
| 1 | 1 | 14 | 23 | 28 | 37 | 47 | 53 | 83 | 112 | |
| 0 | 2 | 0 | 1 | 1 | 1 | 6 | 3 | 8 | 7 | |
| Trade Payables | 1 | 1 | 7 | 6 | 8 | 12 | 8 | 11 | 6 | 6 |
| 0 | 1 | 5 | 20 | 36 | 32 | 44 | 38 | 13 | 13 | |
| Total Liabilities | 2 | 6 | 30 | 53 | 82 | 92 | 116 | 125 | 130 | 159 |
| 1 | 1 | 9 | 12 | 11 | 11 | 13 | 12 | 12 | 11 | |
| Capital Work in Progress | 0 | 4 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 4 |
| 0 | 0 | 2 | 16 | 22 | 16 | 16 | 21 | 27 | 40 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 17 | |
| Cash & Bank | 1 | 1 | 6 | 10 | 28 | 32 | 35 | 1 | 0 | 4 |
| 0 | 1 | 13 | 15 | 21 | 33 | 51 | 89 | 86 | 83 | |
| Total Assets | 2 | 6 | 30 | 53 | 82 | 92 | 116 | 125 | 130 | 159 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 2 | 6 | 24 | 28 | 13 | 4 | 10 | -6 | 12 | |
| Cash from Investing | -1 | -4 | -7 | -17 | -6 | -6 | -1 | -35 | 2 | -6 |
| Cash from Financing | 0 | 2 | 7 | 0 | -0 | -0 | 2 | -4 | 4 | -2 |
| 1 | -0 | 5 | 4 | 18 | 4 | 3 | -34 | -1 | 4 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-05 - Innovana Thinklabs Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-04 - Innovana Thinklabs Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026
2026-09-03 - Innovana Thinklabs Limited has informed the Exchange regarding Outcome of Board Meeting held on September 03, 2026.
2026-08-14 - Innovana Thinklabs Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-13 - Innovana Thinklabs Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
2026-08-13 - Innovana Thinklabs Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-21 - Pursuant to provision of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulation ), we hereby inform you that the Board of Directors of Innovana Thinklabs Limited ("the Company"), at its meeting held today, i.e., July 21, 2026, has approved the acquisition of 0.30% equity stake in Mount Everest Breweries Limited.
2026-07-06 - Innovana Thinklabs Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-06-26 - Innovana Thinklabs Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
News
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