Iware Supplychain Services Ltd.

•

iware.co.inBSE: -NSE: IWARE

Market Cap₹ 508 Cr.

Current Price

High / Low₹ 539 / 120

Stock P/E33.7

Book Value₹ 49

Price to Book4.20

Dividend Yield0.23 %

ROCE28.6 %

ROE41.9 %

Face Value₹ 10

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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 good return on equity (ROE) track record: 3 Years ROE 58.8%
Company has a healthy return on capital (ROCE) of 29.5%
Company generates healthy free cash flow
Company converts assets efficiently - asset turnover of 2.4x

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.15x)
Total debt has risen sharply - up 136.0% year on year
Operating margins have contracted to 11.4% from 14.8%

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

Peer comparison

ServicesLogisticsLogistics

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

S.No.	Name
1.	CONCOR	499.80	30.65	38065.66	1.72	268.90	0.61	2159.76	0.28	13.63	20.41
2.	DELHIVERY	438.60	351.36	32864.05	0.00	31.91	-64.96	2930.73	27.76	2.97	4.75
3.	SHADOWFAX	253.25	133.05	14862.94	0.00	654.00	6732.86	13581.20	1806.32	11.58	6.76
4.	BLACKBUCK	629.05	67.88	11459.23	0.00	42.17	25.14	204.17	42.17	12.75	24.35
5.	TCI	859.95	14.47	6607.09	1.16	106.60	-0.56	1248.50	9.58	20.52	12.30
6.	TVSSCS	130.35	88.81	5751.35	0.00	22.48	-96.84	3335.22	28.66	11.51	6.75
7.	VRLLOG	231.45	18.88	4048.92	0.00	805.30	1509.31	8788.40	1080.70	26.47	21.23
8.	MAHLOG	396.65	102.33	3937.84	0.63	27.83	394.81	2002.88	23.29	10.40	5.76
9.	SINDHUTRAD	24.08	47.98	3712.96	0.00	38.74	-79.39	129.21	-21.85	12.80	45.34
10.	GATEWAY	53.34	10.91	2665.10	6.09	512.68	724.44	5492.97	897.94	17.99	21.31
11.	TCIEXP	513.50	23.94	1974.11	1.36	20.49	5.24	313.40	9.29	13.92	10.03
12.	IWARE	441.60	33.74	508.14	0.23	—	—	—	—	28.60	—

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

No standalone quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	24	44	59	86	258
	21	37	48	69	228
Operating Profit	3	6	11	17	29
OPM %	12.55%	14.41%	18.56%	19.86%	11.36%
	0	0	0	0	1
Interest	1	3	3	3	5
Depreciation	1	3	3	4	5
Profit before Tax	1	1	5	11	20
Tax %	28.60%	53.49%	22.15%	26.11%	24.51%
Net Profit	1	0	4	8	15
EPS	1.23	0.54	4169.60	10.20	14.06
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	7.11%

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 81%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 229%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: —
5 Years:: 43%
3 Years:: 59%
Last Year:: 42%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	0	0	0	8	11
	4	4	8	8	45
	21	25	22	23	54
Trade Payables	2	4	3	3	18
	8	6	13	14	31
Total Liabilities	34	39	47	56	159
	24	25	22	26	48
Capital Work in Progress	0	0	3	2	12
	0	0	9	14	60
Cash & Bank	1	1	3	4	11
	9	14	10	10	28
Total Assets	34	39	47	56	159

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	9	3	10	6	-20
Cash from Investing	-13	-4	-3	-6	-45
Cash from Financing	5	1	-5	1	63
	0	-0	2	2	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Sep 2025	Mar 2026
	74.08	74.09
FIIs	0.00	0.00
	0.47	0.48
Government	0.00	0.00
Public	25.45	25.43

Documents

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

No announcements filed.

News

Recent coverage and analyst commentary for IWARE

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Iware Supplychain Services Ltd.

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Name

CONCOR

499.80

30.65

38065.66

1.72

268.90

0.61

2159.76

0.28

13.63

20.41

DELHIVERY

438.60

351.36

32864.05

0.00

31.91

-64.96

2930.73

27.76

2.97

4.75

SHADOWFAX

253.25

133.05

14862.94

0.00

654.00

6732.86

13581.20

1806.32

11.58

6.76

BLACKBUCK

629.05

67.88

11459.23

0.00

42.17

25.14

204.17

42.17

12.75

24.35

TCI

859.95

14.47

6607.09

1.16

106.60

-0.56

1248.50

9.58

20.52

12.30

TVSSCS

130.35

88.81

5751.35

0.00

22.48

-96.84

3335.22

28.66

11.51

6.75

VRLLOG

231.45

18.88

4048.92

0.00

805.30

1509.31

8788.40

1080.70

26.47

21.23

MAHLOG

396.65

102.33

3937.84

0.63

27.83

394.81

2002.88

23.29

10.40

5.76

SINDHUTRAD

24.08

47.98

3712.96

0.00

38.74

-79.39

129.21

-21.85

12.80

45.34

GATEWAY

53.34

10.91

2665.10

6.09

512.68

724.44

5492.97

897.94

17.99

21.31

TCIEXP

513.50

23.94

1974.11

1.36

20.49

5.24

313.40

9.29

13.92

10.03

IWARE

441.60

33.74

508.14

0.23

—

28.60

—

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

258

228

Operating Profit

OPM %

12.55%

14.41%

18.56%

19.86%

11.36%

Interest

Depreciation

Profit before Tax

Tax %

28.60%

53.49%

22.15%

26.11%

24.51%

Net Profit

EPS

1.23

0.54

4169.60

10.20

14.06

Dividend Payout %

0.00%

7.11%

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Trade Payables

Total Liabilities

159

Capital Work in Progress

Cash & Bank

Total Assets

159

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-20

Cash from Investing

-13

-4

-3

-6

-45

Cash from Financing

-5

-0

-1

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Sep 2025

Mar 2026

74.08

74.09

FIIs

0.00

0.47

0.48

Government

0.00

Public

25.45

25.43

Iware Supplychain Services 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

Iware Supplychain Services 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