Smartworks Coworking Spaces Ltd.

523.252.34%

2026-08-21

smartworksoffice.comBSE: 544447NSE: SMARTWORKS
Market Cap₹ 5,727 Cr.
Current Price₹ 511
High / Low₹ 619 / 362
Stock P/E205.5
Book Value₹ 48
Price to Book10.75
Dividend Yield0.00 %
ROCE52.3 %
ROE-82.2 %
Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • India: 97.9% • Others: 2.1%

PROS

  • Company has a healthy return on capital (ROCE) of 41.8%
  • Latest quarter profit grew 413.3% YoY, showing strong momentum
  • Company generates healthy free cash flow

CONS

  • Company is loss-making at the operating / net level
  • Company has a high debt-to-equity of 3.83x
  • Company has a low return on equity of -114.8% over last 3 years
  • Receivables are growing faster than sales - a possible quality concern
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -10.29x)
  • Interest coverage is weak at 0.8x - earnings barely cover interest

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

Peer comparison

EDIT COLUMNS
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
1.PFOCUS279.00187.9921727.790.00-457.78-514.4312668.151196.882.7423.76
2.SAGILITY42.4620.0219876.920.35216.8145.941963.4827.5913.8222.32
3.SYNGENE397.1072.5316029.700.31-9.00-110.38736.00-15.849.4812.34
4.IGIL338.5524.0014630.771.48165.7430.98370.7823.2277.0060.35
5.INDGN564.2533.9113592.860.401162.00898.2810631.001297.3418.9216.39
6.NESCO1032.4517.637274.640.6893.055.00251.6231.0519.2346.86
7.LEAPIND160.55113.457072.810.009.32
8.SPARC193.153.966268.130.00-20.7859.9439.92314.11163.94-85.17
9.SMARTWORKS500.70205.475727.060.0013.15413.27546.2544.0552.2663.33
10.LATENTVIEW276.5029.285721.480.0047.10-6.84286.8821.5516.6919.76
11.JUSTDIAL659.8015.465611.540.00115.7438.44270.2716.2312.8826.17
12.INDIQUBE191.250.004054.450.00-23.8835.03422.6936.6654.5861.15
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2024
313
121
Operating Profit
OPM %
Other Income
10
Interest
86
Depreciation
147
-31
Tax %
26.04%
Net Profit
0
-2
Equity Capital
83
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
83
Reserves
0
Promoter Pledge %
0.00%
Sep 2024
350
136
Operating Profit
OPM %
Other Income
10
Interest
86
Depreciation
160
-21
Tax %
24.99%
Net Profit
0
-2
Equity Capital
84
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
84
Reserves
0
Promoter Pledge %
0.00%
Dec 2024
352
134
Operating Profit
OPM %
Other Income
12
Interest
85
Depreciation
167
-22
Tax %
28.10%
Net Profit
0
-2
Equity Capital
103
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
103
Reserves
0
Promoter Pledge %
0.00%
Mar 2025
358
126
Operating Profit
OPM %
Other Income
4
Interest
80
Depreciation
161
-5
Tax %
-67.68%
Net Profit
0
-1
Equity Capital
103
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
103
Reserves
0
Promoter Pledge %
0.00%
Jun 2025
379
138
Operating Profit
OPM %
Other Income
9
Interest
81
Depreciation
174
-6
Tax %
24.60%
Net Profit
-4
-0
Equity Capital
103
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
103
Reserves
0
Promoter Pledge %
0.00%
Sep 2025
425
155
Operating Profit
OPM %
Other Income
16
Interest
93
Depreciation
198
-4
Tax %
28.47%
Net Profit
-3
-0
Equity Capital
114
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
114
Reserves
0
Promoter Pledge %
0.00%
Dec 2025
472
167
Operating Profit
OPM %
Other Income
16
Interest
97
Depreciation
223
2
Tax %
20.51%
Net Profit
1
0
Equity Capital
114
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
114
Reserves
0
Promoter Pledge %
0.00%
Mar 2026
520
181
Operating Profit
OPM %
Other Income
13
Interest
95
Depreciation
234
22
Tax %
25.30%
Net Profit
17
1
Equity Capital
114
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
114
Reserves
0
Promoter Pledge %
0.00%
Jun 2026
546
542
Operating Profit
OPM %
Other Income
13
Interest
96
Depreciation
246
18
Tax %
25.16%
Net Profit
13
0
Equity Capital
114
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
114
Reserves
0
Promoter Pledge %
0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022
360
154
Operating Profit
240
OPM %
67
Other Income
34
Interest
122
Depreciation
212
-94
Tax %
26
Net Profit
-70
EPS
-7
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
-9
Minority Interest
0
Share of Associates
0
Adjusted EPS
-9
Mar 2023
711
287
Operating Profit
457
OPM %
64
Other Income
33
Interest
237
Depreciation
356
-136
Tax %
26
Net Profit
-101
EPS
-11
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
-13
Minority Interest
0
Share of Associates
0
Adjusted EPS
-13
Mar 2024
1,039
380
Operating Profit
733
OPM %
71
Other Income
74
Interest
328
Depreciation
473
-68
Tax %
26
Net Profit
-50
EPS
-6
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
-6
Minority Interest
0
Share of Associates
0
Adjusted EPS
-6
Mar 2025
1,374
517
Operating Profit
893
OPM %
65
Other Income
36
Interest
336
Depreciation
636
-79
Tax %
20
Net Profit
-63
EPS
-6
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
-6
Minority Interest
0
Share of Associates
0
Adjusted EPS
-6
TTM
1,963
1,045
Operating Profit
OPM %
Other Income
59
Interest
381
Depreciation
901
37
Tax %
25
Net Profit
28
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:
5 Years:
3 Years:
56%

COMPOUNDED PROFIT GROWTH

10 Years:
5 Years:
3 Years:

STOCK PRICE CAGR

10 Years:
5 Years:
3 Years:
1 Year:
7%

RETURN ON EQUITY

10 Years:
5 Years:
3 Years:
-115%
Last Year:
-82%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

No bonus data found

Mar 2022
Equity Capital
77
37
133
Trade Payables
45
2,503
Total Liabilities
2,795
2,328
Capital Work in Progress
87
0
0
Cash & Bank
102
278
Total Assets
2,795
Total Debt
248
Net Working Capital
-284
Contingent Liabilities
2
Book Value per Share
14.78
Face Value
10.00
Total Debt
248
Net Working Capital
-284
Contingent Liabilities
2
Book Value per Share
14.78
Face Value
10.00
Mar 2023
Equity Capital
78
-46
216
Trade Payables
100
4,027
Total Liabilities
4,374
3,724
Capital Work in Progress
42
0
0
Cash & Bank
214
394
Total Assets
4,374
Total Debt
515
Net Working Capital
-422
Contingent Liabilities
18
Book Value per Share
4.02
Face Value
10.00
Total Debt
515
Net Working Capital
-422
Contingent Liabilities
18
Book Value per Share
4.02
Face Value
10.00
Mar 2024
Equity Capital
79
-29
78
Trade Payables
120
3,782
Total Liabilities
4,030
3,412
Capital Work in Progress
63
11
14
Cash & Bank
52
477
Total Assets
4,030
Total Debt
427
Net Working Capital
-690
Contingent Liabilities
2
Book Value per Share
6.30
Face Value
10.00
Total Debt
427
Net Working Capital
-690
Contingent Liabilities
2
Book Value per Share
6.30
Face Value
10.00
Mar 2025
Equity Capital
103
1
78
Trade Payables
116
4,219
Total Liabilities
4,517
3,780
Capital Work in Progress
135
11
26
Cash & Bank
69
496
Total Assets
4,517
Total Debt
398
Net Working Capital
-961
Contingent Liabilities
1
Book Value per Share
10.07
Face Value
10.00
Total Debt
398
Net Working Capital
-961
Contingent Liabilities
1
Book Value per Share
10.07
Face Value
10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022
216
Cash from Investing
-95
Cash from Financing
-114
8
Free Cash Flow
216
OCF / Net Profit
-3.09
Cumulative 5-Year FCF
0
OCF / Net Profit
-3.09
Cumulative 5-Year FCF
0
Mar 2023
532
Cash from Investing
-307
Cash from Financing
-171
55
Free Cash Flow
-1,246
OCF / Net Profit
-5.26
Cumulative 5-Year FCF
0
OCF / Net Profit
-5.26
Cumulative 5-Year FCF
0
Mar 2024
743
Cash from Investing
-192
Cash from Financing
-577
-26
Free Cash Flow
532
OCF / Net Profit
-14.88
Cumulative 5-Year FCF
0
OCF / Net Profit
-14.88
Cumulative 5-Year FCF
0
Mar 2025
929
Cash from Investing
-276
Cash from Financing
-638
15
Free Cash Flow
-206
OCF / Net Profit
-14.70
Cumulative 5-Year FCF
0
OCF / Net Profit
-14.70
Cumulative 5-Year FCF
0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022
EPS (₹)
-9.06
Book Value (₹)
14.78
Dividend per Share (₹)
0.00
Cash EPS (₹)
18.39
Operating Margin %
66.66%
Net Margin %
-19.41%
ROE %
-61.27%
ROCE %
7.80%
-2.50%
Debtor Days
10
Inventory Days
0
Payable Days
0
10
Debt to Equity (x)
2.17x
Interest Coverage (x)
0.23x
0.41x
Revenue Growth %
0.00%
Operating Profit Growth %
0.00%
Net Profit Growth %
0.00%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2023
EPS (₹)
-13.01
Book Value (₹)
4.02
Dividend per Share (₹)
0.00
Cash EPS (₹)
32.85
Operating Margin %
64.19%
Net Margin %
-14.20%
ROE %
-139.04%
ROCE %
22.11%
-2.82%
Debtor Days
6
Inventory Days
0
Payable Days
0
6
Debt to Equity (x)
16.49x
Interest Coverage (x)
0.42x
0.46x
Revenue Growth %
97.48%
Operating Profit Growth %
90.19%
Net Profit Growth %
-44.55%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
-6.32
Book Value (₹)
6.30
Dividend per Share (₹)
0.00
Cash EPS (₹)
53.51
Operating Margin %
63.47%
Net Margin %
-4.81%
ROE %
-123.28%
ROCE %
50.91%
-1.19%
Debtor Days
5
Inventory Days
0
Payable Days
0
5
Debt to Equity (x)
8.58x
Interest Coverage (x)
0.79x
0.28x
Revenue Growth %
46.10%
Operating Profit Growth %
60.60%
Net Profit Growth %
50.56%
51.39%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.62x
Mar 2025
EPS (₹)
-6.12
Book Value (₹)
10.07
Dividend per Share (₹)
0.00
Cash EPS (₹)
55.51
Operating Margin %
62.39%
Net Margin %
-4.60%
ROE %
-82.19%
ROCE %
52.26%
-1.48%
Debtor Days
5
Inventory Days
0
Payable Days
0
5
Debt to Equity (x)
3.83x
Interest Coverage (x)
0.76x
0.21x
Revenue Growth %
32.20%
Operating Profit Growth %
21.74%
Net Profit Growth %
-26.47%
3.16%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.48x

Shareholding Pattern

Numbers in percentages

TRADES
Jul 2025
58.24
16.50
6.71
Government
0.00
18.56
Sep 2025
58.18
0.93
8.98
Government
0.00
31.92
Dec 2025
58.18
0.33
8.96
Government
0.00
32.53
Mar 2026
58.32
0.16
9.06
Government
0.00
32.46
Jun 2026
58.32
0.28
8.92
Government
0.00
32.48

Documents

Announcements

  • Capacity addition

    2026-08-14 - Smartworks Coworking Spaces Limited has informed the Exchange about Capacity addition

  • Allotment of Securities

    2026-08-14 - Smartworks Coworking Spaces Limited has informed the Exchange regarding allotment of 119000 securities pursuant to ESOP/ESPS

Annual Reports

Credit Ratings

  • Credit Rating

    2026-05-28 - Smartworks Coworking Spaces Limited has informed the Exchange about Credit Rating

Concalls

  • Jul 2026

    TranscriptPPTREC
  • May 2026

    TranscriptPPTREC
  • Apr 2026

    TranscriptPPTREC