Ideaforge Technology Ltd.
•₹ 812.50.73%
2026-08-21
PROS
- Company has delivered good sales growth of 45.4% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.38x)
- Working capital cycle has improved - days down from 800 to 461
- Institutional investors have been accumulating - FII+DII up 5.5pp
- Company maintains a comfortable, low leverage position
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on capital employed of 1.4%
- Company has a low return on equity of 0.2% over last 3 years
- Interest coverage is weak at -1.1x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | HAL | 5010.00 | 35.94 | 335056.28 | 0.90 | 1589.66 | 14.88 | 5515.17 | 14.45 | 31.99 | 27.89 |
| 2. | BEL | 408.70 | 48.61 | 298750.66 | 0.61 | 1054.53 | 8.82 | 5546.98 | 24.94 | 36.68 | 25.22 |
| 3. | BDL | 1349.00 | 0.00 | 49449.28 | 0.36 | 118.79 | 547.36 | 572.24 | 147.63 | 19.75 | 14.52 |
| 4. | DATAPATTNS | 4775.20 | 3475.81 | 26733.46 | 0.21 | 220.60 | 765.10 | 1160.30 | 1068.13 | 23.18 | 27.04 |
| 5. | AEQUS | 262.40 | 0.00 | 17598.27 | 0.00 | -532.28 | -6067.26 | 3955.45 | 1486.69 | 1.50 | 4.47 |
| 6. | ZENTEC | 1932.40 | 96.85 | 17448.21 | 0.05 | 31.85 | -39.99 | 141.64 | -10.48 | 16.83 | 27.13 |
| 7. | ASTRAMICRO | 1702.95 | 85.53 | 16168.66 | 0.14 | 12.35 | -24.12 | 176.66 | -11.55 | 19.18 | 20.40 |
| 8. | APOLLO | 385.85 | 118.18 | 14338.17 | 0.06 | 25.22 | 42.58 | 251.29 | 88.12 | 14.05 | 21.38 |
| 9. | SIGMAADV | 691.05 | 86.42 | 13125.04 | 0.00 | 354.12 | 159.95 | 3742.77 | — | 9.66 | 15.54 |
| 10. | PARAS | 1496.10 | 127.65 | 12056.67 | 0.07 | 20.74 | 45.34 | 127.91 | 37.26 | 18.68 | 24.95 |
| 11. | UNIMECH | 1498.40 | 105.90 | 7627.16 | 0.00 | 27.86 | 45.70 | 107.62 | 70.85 | 12.10 | 36.35 |
| 12. | IDEAFORGE | 825.40 | 1043.47 | 4102.94 | 0.00 | -2.59 | 89.01 | 68.59 | 436.68 | -2.38 | 3.40 |
Detailed Comparison with:
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 97 | 24 | 92 | 105 | 86 | 37 | 18 | 24 | 13 | 42 | 32 | 141 | 68 | |
| 69 | 32 | 71 | 87 | 83 | 51 | 33 | 41 | 29 | 49 | 55 | 78 | 82 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 4 | 15 | 7 | 5 | 6 | 6 | 5 | 4 | 4 | 3 | 3 | 12 | 2 |
| Interest | 2 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 1 | 2 | 2 |
| Depreciation | 5 | 5 | 6 | 6 | 7 | 7 | 7 | 8 | 10 | 11 | 11 | 12 | 14 |
| 25 | 1 | 21 | 16 | 3 | -16 | -17 | -21 | -23 | -15 | -33 | 62 | -12 | |
| Tax % | 24.73% | 33.08% | 25.15% | 28.35% | 25.20% | 25.20% | -19.55% | 4.72% | 4.39% | 1.57% | 6.00% | 2.12% | 80.25% |
| Net Profit | 19 | 1 | 16 | 12 | 2 | -12 | -21 | -20 | -22 | -15 | -31 | 60 | -2 |
| 5 | 0 | 4 | 3 | 0 | -3 | -5 | -5 | -5 | -3 | -7 | 14 | -0 | |
| Equity Capital | 38 | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 38 | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 97
- 69
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 2
- Depreciation
- 5
- 25
- Tax %
- 24.73%
- Net Profit
- 19
- 5
- Equity Capital
- 38
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 38
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 24
- 32
- Operating Profit
- —
- OPM %
- —
- Other Income
- 15
- Interest
- 1
- Depreciation
- 5
- 1
- Tax %
- 33.08%
- Net Profit
- 1
- 0
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 92
- 71
- Operating Profit
- —
- OPM %
- —
- Other Income
- 7
- Interest
- 0
- Depreciation
- 6
- 21
- Tax %
- 25.15%
- Net Profit
- 16
- 4
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 105
- 87
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 0
- Depreciation
- 6
- 16
- Tax %
- 28.35%
- Net Profit
- 12
- 3
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 86
- 83
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 0
- Depreciation
- 7
- 3
- Tax %
- 25.20%
- Net Profit
- 2
- 0
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 37
- 51
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 1
- Depreciation
- 7
- -16
- Tax %
- 25.20%
- Net Profit
- -12
- -3
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 18
- 33
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 0
- Depreciation
- 7
- -17
- Tax %
- -19.55%
- Net Profit
- -21
- -5
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 24
- 41
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 0
- Depreciation
- 8
- -21
- Tax %
- 4.72%
- Net Profit
- -20
- -5
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 13
- 29
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 0
- Depreciation
- 10
- -23
- Tax %
- 4.39%
- Net Profit
- -22
- -5
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 42
- 49
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 1
- Depreciation
- 11
- -15
- Tax %
- 1.57%
- Net Profit
- -15
- -3
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 32
- 55
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 1
- Depreciation
- 11
- -33
- Tax %
- 6.00%
- Net Profit
- -31
- -7
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 141
- 78
- Operating Profit
- —
- OPM %
- —
- Other Income
- 12
- Interest
- 2
- Depreciation
- 12
- 62
- Tax %
- 2.12%
- Net Profit
- 60
- 14
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 68
- 82
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 2
- Depreciation
- 14
- -12
- Tax %
- 80.25%
- Net Profit
- -2
- -0
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 43
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 33 | 20 | 18 | 14 | 35 | 159 | 186 | 317 | 166 | 227 | 282 | |
| 25 | 20 | 27 | 27 | 46 | 85 | 138 | 257 | 208 | 211 | 264 | |
| Operating Profit | 8 | 2 | -5 | -11 | -10 | 77 | 58 | 90 | -21 | 38 | — |
| OPM % | 26 | 11 | -28 | -77 | -28 | 48 | 31 | 29 | -13 | 17 | — |
| Other Income | 1 | 2 | 4 | 2 | 1 | 2 | 10 | 30 | 21 | 22 | 20 |
| Interest | 3 | 2 | 1 | 0 | 1 | 19 | 6 | 5 | 2 | 5 | 6 |
| Depreciation | 2 | 3 | 3 | 2 | 3 | 7 | 12 | 21 | 29 | 43 | 47 |
| 3 | -3 | -9 | -14 | -14 | 50 | 41 | 65 | -52 | -10 | 1 | |
| Tax % | 32 | 21 | -10 | 0 | 0 | 12 | 22 | 26 | 2 | 20 | -737 |
| Net Profit | 2 | -2 | -10 | -14 | -14 | 44 | 32 | 48 | -51 | -8 | 12 |
| EPS | 231 | -246 | -1,160 | -1,267 | -1,609 | 13 | 8 | 11 | -12 | -2 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | -1 | -5 | -7 | -7 | 22 | 15 | 11 | -12 | -2 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | -1 | -5 | -7 | -7 | 22 | 15 | 11 | -12 | -2 | — |
Mar 2017
- 33
- 25
- Operating Profit
- 8
- OPM %
- 26
- Other Income
- 1
- Interest
- 3
- Depreciation
- 2
- 3
- Tax %
- 32
- Net Profit
- 2
- EPS
- 231
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2018
- 20
- 20
- Operating Profit
- 2
- OPM %
- 11
- Other Income
- 2
- Interest
- 2
- Depreciation
- 3
- -3
- Tax %
- 21
- Net Profit
- -2
- EPS
- -246
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
Mar 2019
- 18
- 27
- Operating Profit
- -5
- OPM %
- -28
- Other Income
- 4
- Interest
- 1
- Depreciation
- 3
- -9
- Tax %
- -10
- Net Profit
- -10
- EPS
- -1,160
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -5
Mar 2020
- 14
- 27
- Operating Profit
- -11
- OPM %
- -77
- Other Income
- 2
- Interest
- 0
- Depreciation
- 2
- -14
- Tax %
- 0
- Net Profit
- -14
- EPS
- -1,267
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -7
Mar 2021
- 35
- 46
- Operating Profit
- -10
- OPM %
- -28
- Other Income
- 1
- Interest
- 1
- Depreciation
- 3
- -14
- Tax %
- 0
- Net Profit
- -14
- EPS
- -1,609
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -7
Mar 2022
- 159
- 85
- Operating Profit
- 77
- OPM %
- 48
- Other Income
- 2
- Interest
- 19
- Depreciation
- 7
- 50
- Tax %
- 12
- Net Profit
- 44
- EPS
- 13
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 22
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 22
Mar 2023
- 186
- 138
- Operating Profit
- 58
- OPM %
- 31
- Other Income
- 10
- Interest
- 6
- Depreciation
- 12
- 41
- Tax %
- 22
- Net Profit
- 32
- EPS
- 8
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 15
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 15
Mar 2024
- 317
- 257
- Operating Profit
- 90
- OPM %
- 29
- Other Income
- 30
- Interest
- 5
- Depreciation
- 21
- 65
- Tax %
- 26
- Net Profit
- 48
- EPS
- 11
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
Mar 2025
- 166
- 208
- Operating Profit
- -21
- OPM %
- -13
- Other Income
- 21
- Interest
- 2
- Depreciation
- 29
- -52
- Tax %
- 2
- Net Profit
- -51
- EPS
- -12
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -12
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -12
Mar 2026
- 227
- 211
- Operating Profit
- 38
- OPM %
- 17
- Other Income
- 22
- Interest
- 5
- Depreciation
- 43
- -10
- Tax %
- 20
- Net Profit
- -8
- EPS
- -2
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -2
TTM
- 282
- 264
- Operating Profit
- —
- OPM %
- —
- Other Income
- 20
- Interest
- 6
- Depreciation
- 47
- 1
- Tax %
- -737
- Net Profit
- 12
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 30%
- 5 Years:
- 45%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -7%
- 1 Year:
- 74%
RETURN ON EQUITY
- 10 Years:
- 1%
- 5 Years:
- 12%
- 3 Years:
- 0%
- Last Year:
- -1%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 0 | 0 | 0 | 0 | 0 | 0 | 21 | 43 | 43 | 43 |
| 22 | 89 | 79 | 65 | 52 | 149 | 273 | 611 | 563 | 560 | |
| 0 | 2 | 2 | 5 | 5 | 6 | 87 | 0 | 0 | 72 | |
| Trade Payables | 3 | 1 | 2 | 1 | 5 | 7 | 14 | 15 | 8 | 40 |
| 18 | 7 | 7 | 7 | 62 | 60 | 96 | 75 | 70 | 101 | |
| Total Liabilities | 43 | 100 | 90 | 79 | 124 | 222 | 490 | 744 | 683 | 817 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 5 | 6 | 4 | 4 | 13 | 26 | 49 | 67 | 97 | 138 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 6 | 4 | 0 |
| 0 | 54 | 24 | 12 | 0 | 11 | 125 | 95 | 137 | 140 | |
| 6 | 6 | 10 | 11 | 23 | 49 | 105 | 97 | 91 | 139 | |
| 0 | 6 | 9 | 10 | 0 | 0 | 0 | 47 | 60 | 127 | |
| Cash & Bank | 15 | 11 | 19 | 9 | 21 | 35 | 6 | 268 | 92 | 30 |
| 17 | 16 | 24 | 34 | 67 | 101 | 202 | 163 | 203 | 244 | |
| Total Assets | 43 | 100 | 90 | 79 | 124 | 222 | 490 | 744 | 683 | 817 |
| Total Debt | 13 | 8 | 3 | 5 | 50 | 6 | 87 | 0 | 0 | 72 |
| Net Working Capital | 16 | 72 | 59 | 38 | 58 | 96 | 234 | 530 | 364 | 286 |
| Contingent Liabilities | 0 | 0 | 0 | 4 | 4 | 7 | 7 | 7 | 4 | 0 |
| Book Value per Share | 2448.01 | 10077.15 | 8916.91 | 7380.41 | 5808.68 | 16710.45 | 137.91 | 152.42 | 140.58 | 139.39 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 13 | 8 | 3 | 5 | 50 | 6 | 87 | 0 | 0 | 72 |
| Net Working Capital | 16 | 72 | 59 | 38 | 58 | 96 | 234 | 530 | 364 | 286 |
| Contingent Liabilities | 0 | 0 | 0 | 4 | 4 | 7 | 7 | 7 | 4 | 0 |
| Book Value per Share | 2448.01 | 10077.15 | 8916.91 | 7380.41 | 5808.68 | 16710.45 | 137.91 | 152.42 | 140.58 | 139.39 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2017
- Equity Capital
- 0
- 22
- 0
- Trade Payables
- 3
- 18
- Total Liabilities
- 43
- 5
- Capital Work in Progress
- 0
- 0
- 6
- 0
- Cash & Bank
- 15
- 17
- Total Assets
- 43
- Total Debt
- 13
- Net Working Capital
- 16
- Contingent Liabilities
- 0
- Book Value per Share
- 2448.01
- Face Value
- 10.00
- Total Debt
- 13
- Net Working Capital
- 16
- Contingent Liabilities
- 0
- Book Value per Share
- 2448.01
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 0
- 89
- 2
- Trade Payables
- 1
- 7
- Total Liabilities
- 100
- 6
- Capital Work in Progress
- 0
- 54
- 6
- 6
- Cash & Bank
- 11
- 16
- Total Assets
- 100
- Total Debt
- 8
- Net Working Capital
- 72
- Contingent Liabilities
- 0
- Book Value per Share
- 10077.15
- Face Value
- 10.00
- Total Debt
- 8
- Net Working Capital
- 72
- Contingent Liabilities
- 0
- Book Value per Share
- 10077.15
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 0
- 79
- 2
- Trade Payables
- 2
- 7
- Total Liabilities
- 90
- 4
- Capital Work in Progress
- 0
- 24
- 10
- 9
- Cash & Bank
- 19
- 24
- Total Assets
- 90
- Total Debt
- 3
- Net Working Capital
- 59
- Contingent Liabilities
- 0
- Book Value per Share
- 8916.91
- Face Value
- 10.00
- Total Debt
- 3
- Net Working Capital
- 59
- Contingent Liabilities
- 0
- Book Value per Share
- 8916.91
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 0
- 65
- 5
- Trade Payables
- 1
- 7
- Total Liabilities
- 79
- 4
- Capital Work in Progress
- 0
- 12
- 11
- 10
- Cash & Bank
- 9
- 34
- Total Assets
- 79
- Total Debt
- 5
- Net Working Capital
- 38
- Contingent Liabilities
- 4
- Book Value per Share
- 7380.41
- Face Value
- 10.00
- Total Debt
- 5
- Net Working Capital
- 38
- Contingent Liabilities
- 4
- Book Value per Share
- 7380.41
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 0
- 52
- 5
- Trade Payables
- 5
- 62
- Total Liabilities
- 124
- 13
- Capital Work in Progress
- 0
- 0
- 23
- 0
- Cash & Bank
- 21
- 67
- Total Assets
- 124
- Total Debt
- 50
- Net Working Capital
- 58
- Contingent Liabilities
- 4
- Book Value per Share
- 5808.68
- Face Value
- 10.00
- Total Debt
- 50
- Net Working Capital
- 58
- Contingent Liabilities
- 4
- Book Value per Share
- 5808.68
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 0
- 149
- 6
- Trade Payables
- 7
- 60
- Total Liabilities
- 222
- 26
- Capital Work in Progress
- 0
- 11
- 49
- 0
- Cash & Bank
- 35
- 101
- Total Assets
- 222
- Total Debt
- 6
- Net Working Capital
- 96
- Contingent Liabilities
- 7
- Book Value per Share
- 16710.45
- Face Value
- 10.00
- Total Debt
- 6
- Net Working Capital
- 96
- Contingent Liabilities
- 7
- Book Value per Share
- 16710.45
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 21
- 273
- 87
- Trade Payables
- 14
- 96
- Total Liabilities
- 490
- 49
- Capital Work in Progress
- 3
- 125
- 105
- 0
- Cash & Bank
- 6
- 202
- Total Assets
- 490
- Total Debt
- 87
- Net Working Capital
- 234
- Contingent Liabilities
- 7
- Book Value per Share
- 137.91
- Face Value
- 10.00
- Total Debt
- 87
- Net Working Capital
- 234
- Contingent Liabilities
- 7
- Book Value per Share
- 137.91
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 43
- 611
- 0
- Trade Payables
- 15
- 75
- Total Liabilities
- 744
- 67
- Capital Work in Progress
- 6
- 95
- 97
- 47
- Cash & Bank
- 268
- 163
- Total Assets
- 744
- Total Debt
- 0
- Net Working Capital
- 530
- Contingent Liabilities
- 7
- Book Value per Share
- 152.42
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 530
- Contingent Liabilities
- 7
- Book Value per Share
- 152.42
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 43
- 563
- 0
- Trade Payables
- 8
- 70
- Total Liabilities
- 683
- 97
- Capital Work in Progress
- 4
- 137
- 91
- 60
- Cash & Bank
- 92
- 203
- Total Assets
- 683
- Total Debt
- 0
- Net Working Capital
- 364
- Contingent Liabilities
- 4
- Book Value per Share
- 140.58
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 364
- Contingent Liabilities
- 4
- Book Value per Share
- 140.58
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 43
- 560
- 72
- Trade Payables
- 40
- 101
- Total Liabilities
- 817
- 138
- Capital Work in Progress
- 0
- 140
- 139
- 127
- Cash & Bank
- 30
- 244
- Total Assets
- 817
- Total Debt
- 72
- Net Working Capital
- 286
- Contingent Liabilities
- 0
- Book Value per Share
- 139.39
- Face Value
- 10.00
- Total Debt
- 72
- Net Working Capital
- 286
- Contingent Liabilities
- 0
- Book Value per Share
- 139.39
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 7 | -5 | -13 | -17 | -32 | 67 | -53 | 77 | -66 | -50 | |
| Cash from Investing | -5 | -61 | 21 | 5 | -11 | -31 | -149 | -108 | -78 | 0 |
| Cash from Financing | 7 | 63 | -6 | 2 | 44 | -11 | 176 | 189 | -8 | 61 |
| 9 | -3 | 2 | -11 | 1 | 25 | -26 | 158 | -151 | 12 | |
| Free Cash Flow | -1 | -10 | -15 | -19 | -44 | 59 | -92 | 33 | -125 | -133 |
| OCF / Net Profit | 3.54 | 2.48 | 1.31 | 1.27 | 2.22 | 1.51 | -1.66 | 1.61 | 1.28 | 6.38 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -88 | -28 | -110 | -62 | -168 | -257 |
| OCF / Net Profit | 3.54 | 2.48 | 1.31 | 1.27 | 2.22 | 1.51 | -1.66 | 1.61 | 1.28 | 6.38 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -88 | -28 | -110 | -62 | -168 | -257 |
Mar 2017
- 7
- Cash from Investing
- -5
- Cash from Financing
- 7
- 9
- Free Cash Flow
- -1
- OCF / Net Profit
- 3.54
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 3.54
- Cumulative 5-Year FCF
- 0
Mar 2018
- -5
- Cash from Investing
- -61
- Cash from Financing
- 63
- -3
- Free Cash Flow
- -10
- OCF / Net Profit
- 2.48
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.48
- Cumulative 5-Year FCF
- 0
Mar 2019
- -13
- Cash from Investing
- 21
- Cash from Financing
- -6
- 2
- Free Cash Flow
- -15
- OCF / Net Profit
- 1.31
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.31
- Cumulative 5-Year FCF
- 0
Mar 2020
- -17
- Cash from Investing
- 5
- Cash from Financing
- 2
- -11
- Free Cash Flow
- -19
- OCF / Net Profit
- 1.27
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.27
- Cumulative 5-Year FCF
- 0
Mar 2021
- -32
- Cash from Investing
- -11
- Cash from Financing
- 44
- 1
- Free Cash Flow
- -44
- OCF / Net Profit
- 2.22
- Cumulative 5-Year FCF
- -88
- OCF / Net Profit
- 2.22
- Cumulative 5-Year FCF
- -88
Mar 2022
- 67
- Cash from Investing
- -31
- Cash from Financing
- -11
- 25
- Free Cash Flow
- 59
- OCF / Net Profit
- 1.51
- Cumulative 5-Year FCF
- -28
- OCF / Net Profit
- 1.51
- Cumulative 5-Year FCF
- -28
Mar 2023
- -53
- Cash from Investing
- -149
- Cash from Financing
- 176
- -26
- Free Cash Flow
- -92
- OCF / Net Profit
- -1.66
- Cumulative 5-Year FCF
- -110
- OCF / Net Profit
- -1.66
- Cumulative 5-Year FCF
- -110
Mar 2024
- 77
- Cash from Investing
- -108
- Cash from Financing
- 189
- 158
- Free Cash Flow
- 33
- OCF / Net Profit
- 1.61
- Cumulative 5-Year FCF
- -62
- OCF / Net Profit
- 1.61
- Cumulative 5-Year FCF
- -62
Mar 2025
- -66
- Cash from Investing
- -78
- Cash from Financing
- -8
- -151
- Free Cash Flow
- -125
- OCF / Net Profit
- 1.28
- Cumulative 5-Year FCF
- -168
- OCF / Net Profit
- 1.28
- Cumulative 5-Year FCF
- -168
Mar 2026
- -50
- Cash from Investing
- 0
- Cash from Financing
- 61
- 12
- Free Cash Flow
- -133
- OCF / Net Profit
- 6.38
- Cumulative 5-Year FCF
- -257
- OCF / Net Profit
- 6.38
- Cumulative 5-Year FCF
- -257
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 229.54 | -245.43 | -1160.24 | -1525.46 | -1603.38 | 4944.49 | 14.99 | 11.16 | -11.92 | -1.80 |
| Book Value (₹) | 2448.01 | 10077.15 | 8916.91 | 7380.41 | 5808.68 | 16710.45 | 137.91 | 152.42 | 140.58 | 139.39 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 2.10 | 0.37 | -3.58 | -5.60 | -5.54 | 25.50 | 20.55 | 16.09 | -5.14 | 8.14 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 25.83% | 0.99% | -48.94% | -92.98% | -28.48% | 48.02% | 31.43% | 18.92% | -25.39% | 7.06% |
| Net Margin % | 6.20% | -10.67% | -56.50% | -96.04% | -40.90% | 27.60% | 17.20% | 15.09% | -30.96% | -3.43% |
| ROE % | 12.88% | -3.92% | -12.22% | -18.73% | -24.37% | 43.90% | 14.44% | 10.10% | -8.16% | -1.29% |
| ROCE % | 21.85% | -1.03% | -9.13% | -16.59% | -14.20% | 49.57% | 16.06% | 12.88% | -7.80% | -0.76% |
| 5.42% | -3.04% | -10.82% | -16.02% | -14.12% | 25.47% | 8.98% | 7.75% | -7.20% | -1.04% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 117 | 114 | 151 | 249 | 177 | 50 | 77 | 61 | 118 | 150 |
| Inventory Days | 52 | 113 | 166 | 273 | 179 | 83 | 151 | 116 | 207 | 185 |
| Payable Days | 66 | 104 | 99 | 78 | 56 | 54 | 67 | 34 | 38 | 93 |
| 102 | 123 | 219 | 444 | 301 | 79 | 161 | 143 | 286 | 242 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.60x | 0.09x | 0.04x | 0.08x | 0.97x | 0.04x | 0.29x | 0.00x | 0.00x | 0.12x |
| Interest Coverage (x) | 1.91x | -0.33x | -7.89x | -30.46x | -10.87x | 3.63x | 8.02x | 14.72x | -21.51x | -1.06x |
| 2.21x | 9.92x | 8.59x | 5.21x | 3.42x | 3.01x | 2.56x | 8.58x | 8.19x | 2.53x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 104.04% | -37.58% | -10.71% | -22.55% | 147.83% | 356.43% | 16.66% | 70.43% | -47.66% | 36.71% |
| Operating Profit Growth % | 38.98% | -73.48% | -330.88% | -109.12% | 7.89% | 869.66% | -23.64% | 54.61% | -123.14% | 281.58% |
| Net Profit Growth % | -44.73% | -207.41% | -372.74% | -31.64% | -5.53% | 408.03% | -27.31% | 49.57% | -207.37% | 84.87% |
| 0.00% | -206.92% | -372.74% | -31.48% | 0.00% | 0.00% | 0.00% | -25.58% | -206.88% | 84.94% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 61.64x | 0.00x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 4.51x | 2.46x | 2.67x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | -1.52x | 3.16x | 0.29x | 0.00x | 0.00x | 0.00x | 29.66x | -66.92x | 43.51x |
Mar 2017
- EPS (₹)
- 229.54
- Book Value (₹)
- 2448.01
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.10
- Operating Margin %
- 25.83%
- Net Margin %
- 6.20%
- ROE %
- 12.88%
- ROCE %
- 21.85%
- 5.42%
- Debtor Days
- 117
- Inventory Days
- 52
- Payable Days
- 66
- 102
- Debt to Equity (x)
- 0.60x
- Interest Coverage (x)
- 1.91x
- 2.21x
- Revenue Growth %
- 104.04%
- Operating Profit Growth %
- 38.98%
- Net Profit Growth %
- -44.73%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- -245.43
- Book Value (₹)
- 10077.15
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.37
- Operating Margin %
- 0.99%
- Net Margin %
- -10.67%
- ROE %
- -3.92%
- ROCE %
- -1.03%
- -3.04%
- Debtor Days
- 114
- Inventory Days
- 113
- Payable Days
- 104
- 123
- Debt to Equity (x)
- 0.09x
- Interest Coverage (x)
- -0.33x
- 9.92x
- Revenue Growth %
- -37.58%
- Operating Profit Growth %
- -73.48%
- Net Profit Growth %
- -207.41%
- -206.92%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- -1.52x
Mar 2019
- EPS (₹)
- -1160.24
- Book Value (₹)
- 8916.91
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -3.58
- Operating Margin %
- -48.94%
- Net Margin %
- -56.50%
- ROE %
- -12.22%
- ROCE %
- -9.13%
- -10.82%
- Debtor Days
- 151
- Inventory Days
- 166
- Payable Days
- 99
- 219
- Debt to Equity (x)
- 0.04x
- Interest Coverage (x)
- -7.89x
- 8.59x
- Revenue Growth %
- -10.71%
- Operating Profit Growth %
- -330.88%
- Net Profit Growth %
- -372.74%
- -372.74%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 3.16x
Mar 2020
- EPS (₹)
- -1525.46
- Book Value (₹)
- 7380.41
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -5.60
- Operating Margin %
- -92.98%
- Net Margin %
- -96.04%
- ROE %
- -18.73%
- ROCE %
- -16.59%
- -16.02%
- Debtor Days
- 249
- Inventory Days
- 273
- Payable Days
- 78
- 444
- Debt to Equity (x)
- 0.08x
- Interest Coverage (x)
- -30.46x
- 5.21x
- Revenue Growth %
- -22.55%
- Operating Profit Growth %
- -109.12%
- Net Profit Growth %
- -31.64%
- -31.48%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.29x
Mar 2021
- EPS (₹)
- -1603.38
- Book Value (₹)
- 5808.68
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -5.54
- Operating Margin %
- -28.48%
- Net Margin %
- -40.90%
- ROE %
- -24.37%
- ROCE %
- -14.20%
- -14.12%
- Debtor Days
- 177
- Inventory Days
- 179
- Payable Days
- 56
- 301
- Debt to Equity (x)
- 0.97x
- Interest Coverage (x)
- -10.87x
- 3.42x
- Revenue Growth %
- 147.83%
- Operating Profit Growth %
- 7.89%
- Net Profit Growth %
- -5.53%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 4944.49
- Book Value (₹)
- 16710.45
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 25.50
- Operating Margin %
- 48.02%
- Net Margin %
- 27.60%
- ROE %
- 43.90%
- ROCE %
- 49.57%
- 25.47%
- Debtor Days
- 50
- Inventory Days
- 83
- Payable Days
- 54
- 79
- Debt to Equity (x)
- 0.04x
- Interest Coverage (x)
- 3.63x
- 3.01x
- Revenue Growth %
- 356.43%
- Operating Profit Growth %
- 869.66%
- Net Profit Growth %
- 408.03%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 14.99
- Book Value (₹)
- 137.91
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 20.55
- Operating Margin %
- 31.43%
- Net Margin %
- 17.20%
- ROE %
- 14.44%
- ROCE %
- 16.06%
- 8.98%
- Debtor Days
- 77
- Inventory Days
- 151
- Payable Days
- 67
- 161
- Debt to Equity (x)
- 0.29x
- Interest Coverage (x)
- 8.02x
- 2.56x
- Revenue Growth %
- 16.66%
- Operating Profit Growth %
- -23.64%
- Net Profit Growth %
- -27.31%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 11.16
- Book Value (₹)
- 152.42
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 16.09
- Operating Margin %
- 18.92%
- Net Margin %
- 15.09%
- ROE %
- 10.10%
- ROCE %
- 12.88%
- 7.75%
- Debtor Days
- 61
- Inventory Days
- 116
- Payable Days
- 34
- 143
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 14.72x
- 8.58x
- Revenue Growth %
- 70.43%
- Operating Profit Growth %
- 54.61%
- Net Profit Growth %
- 49.57%
- -25.58%
- P/E (x)
- 61.64x
- P/B (x)
- 4.51x
- Dividend Yield %
- 0.00%
- 29.66x
Mar 2025
- EPS (₹)
- -11.92
- Book Value (₹)
- 140.58
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -5.14
- Operating Margin %
- -25.39%
- Net Margin %
- -30.96%
- ROE %
- -8.16%
- ROCE %
- -7.80%
- -7.20%
- Debtor Days
- 118
- Inventory Days
- 207
- Payable Days
- 38
- 286
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- -21.51x
- 8.19x
- Revenue Growth %
- -47.66%
- Operating Profit Growth %
- -123.14%
- Net Profit Growth %
- -207.37%
- -206.88%
- P/E (x)
- 0.00x
- P/B (x)
- 2.46x
- Dividend Yield %
- 0.00%
- -66.92x
Mar 2026
- EPS (₹)
- -1.80
- Book Value (₹)
- 139.39
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 8.14
- Operating Margin %
- 7.06%
- Net Margin %
- -3.43%
- ROE %
- -1.29%
- ROCE %
- -0.76%
- -1.04%
- Debtor Days
- 150
- Inventory Days
- 185
- Payable Days
- 93
- 242
- Debt to Equity (x)
- 0.12x
- Interest Coverage (x)
- -1.06x
- 2.53x
- Revenue Growth %
- 36.71%
- Operating Profit Growth %
- 281.58%
- Net Profit Growth %
- 84.87%
- 84.94%
- P/E (x)
- 0.00x
- P/B (x)
- 2.67x
- Dividend Yield %
- 0.00%
- 43.51x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-18 - Ideaforge Technology Limited has informed the Exchange about Transcript
- Allotment of Securities
2026-08-14 - Ideaforge Technology Limited has informed the Exchange regarding allotment of 14135 securities pursuant to ESOP/ESPS at its meeting held on August 14, 2026
Annual Reports
Credit Ratings
- Credit Rating- New
2026-06-05 - Ideaforge Technology Limited has informed the Exchange about Credit Rating- New
- Credit Rating
2026-05-28 - Ideaforge Technology Limited has informed the Exchange about Credit Rating
Concalls
Aug 2026
Jun 2026
Apr 2026