Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 23.73 | 90.90 | 102.30 | 86.19 | 37.10 | 17.61 | 20.31 | 12.78 | 40.76 | 31.55 | 141.04 | 68.59 |
| Expenses | 31.59 | 71.32 | 87.41 | 83.73 | 52.93 | 35.08 | 42.16 | 31.86 | 52.04 | 58.08 | 79.33 | 66.26 |
| Operating Profit | -7.86 | 19.58 | 14.89 | 2.46 | -15.83 | -17.47 | -21.85 | -19.08 | -11.28 | -26.53 | 61.71 | 2.33 |
| OPM % | -33.12% | 21.54% | 14.56% | 2.85% | -42.67% | -99.20% | -107.58% | -149.30% | -27.67% | -84.09% | 43.75% | 3.40% |
| Other Income | 14.91 | 6.61 | 5.36 | 6.00 | 5.84 | 4.89 | 4.43 | 3.94 | 3.29 | 2.61 | 12.45 | 1.95 |
| Interest | 0.69 | 0.37 | 0.29 | 0.27 | 0.78 | 0.23 | 0.25 | 0.37 | 0.92 | 1.05 | 1.64 | 2.04 |
| Depreciation | 5.02 | 5.67 | 5.82 | 6.62 | 7.22 | 7.47 | 8.03 | 9.78 | 10.55 | 10.97 | 11.78 | 14.21 |
| Profit before tax | 1.34 | 20.15 | 14.14 | 1.57 | -17.99 | -20.28 | -25.70 | -25.29 | -19.46 | -35.94 | 60.74 | -11.97 |
| Tax % | 32.84% | 26.55% | 26.87% | 25.48% | -23.74% | 18.44% | 0.08% | -6.88% | 0.82% | -5.79% | 1.23% | -78.28% |
| Net Profit | 0.89 | 14.80 | 10.33 | 1.17 | -13.73 | -24.02 | -25.71 | -23.56 | -19.62 | -33.85 | 59.99 | -2.59 |
| EPS in Rs | 0.21 | 3.45 | 2.41 | 0.27 | -3.19 | -5.58 | -5.97 | -5.45 | -4.54 | -7.83 | 13.86 | -0.60 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 14 | 35 | 159 | 186 | 314 | 161 | 226 | 282 |
| Expenses | 26 | 45 | 85 | 138 | 257 | 213 | 220 | 256 |
| Operating Profit | -12 | -11 | 75 | 48 | 57 | -52 | 6 | 26 |
| OPM % | -88% | -31% | 47% | 26% | 18% | -32% | 2.6% | 9% |
| Other Income | 2 | 2 | 2 | 10 | 30 | 21 | 22 | 20 |
| Interest | 1 | 2 | 19 | 6 | 5 | 2 | 5 | 6 |
| Depreciation | 3 | 4 | 7 | 12 | 21 | 29 | 43 | 48 |
| Profit before tax | -13 | -14 | 50 | 41 | 61 | -62 | -20 | -7 |
| Tax % | 0% | 1% | 12% | 22% | 26% | -0% | -15% | |
| Net Profit | -13 | -15 | 44 | 32 | 45 | -62 | -17 | 4 |
| EPS in Rs | -1,499.44 | -1,625.56 | 4,862.98 | 14.99 | 10.56 | -14.46 | -3.94 | 0.89 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 45% | 7% | 221% | ||
| Compounded Profit Growth | % | -9% | % | 105% | ||
| Stock Price CAGR | % | % | -7% | 46% | ||
| Return on Equity | % | 2% | -2% | -3% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.09 | 0.09 | 0.09 | 21 | 43 | 43 | 43 |
| Reserves | 68 | 60 | 163 | 303 | 618 | 566 | 556 |
| Borrowings | 7 | 51 | 16 | 101 | 14 | 16 | 84 |
| Other Liabilities | 5 | 13 | 43 | 63 | 67 | 47 | 116 |
| Total Liabilities | 80 | 124 | 222 | 488 | 743 | 672 | 799 |
| Fixed Assets | 5 | 13 | 26 | 49 | 67 | 97 | 138 |
| CWIP | 17 | 14 | 19 | 25 | 54 | 100 | 110 |
| Investments | 12 | 0 | 11 | 125 | 88 | 120 | 105 |
| Other Assets | 46 | 97 | 166 | 289 | 533 | 355 | 446 |
| Total Assets | 80 | 124 | 222 | 488 | 743 | 672 | 799 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -16 | -31 | 67 | -53 | 76 | -77 | -63 |
| Cash from Investing Activity | 5 | -7 | -31 | -149 | -102 | -68 | 16 |
| Cash from Financing Activity | 1 | 43 | -11 | 176 | 189 | -8 | 61 |
| Net Cash Flow | -11 | 5 | 25 | -26 | 164 | -152 | 14 |
| Free Cash Flow | -26 | -40 | 53 | -86 | 9 | -164 | -152 |
| CFO/OP | 130% | 291% | 99% | -97% | 171% | 144% | -1,101% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 264 | 250 | 46 | 113 | 52 | 127 | 204 |
| Inventory Days | 532 | 451 | 433 | 639 | 222 | 312 | 536 |
| Days Payable | 40 | 91 | 66 | 85 | 36 | 29 | 153 |
| Cash Conversion Cycle | 756 | 609 | 413 | 667 | 237 | 410 | 587 |
| Working Capital Days | 723 | 452 | 116 | 203 | 203 | 403 | 308 |
| ROCE % | -14% | 48% | 15% | 11% | -10% | -3% |
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Jul 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 29.34% | 29.33% | 29.33% | 29.23% | 29.23% | 29.17% | 29.10% | 28.97% | 28.97% | 29.04% | 28.96% | 25.26% |
| FIIs | 3.46% | 2.75% | 2.92% | 3.50% | 1.36% | 1.56% | 0.60% | 0.25% | 0.20% | 0.73% | 4.89% | 8.27% |
| DIIs | 6.39% | 3.76% | 3.40% | 2.46% | 2.48% | 1.52% | 1.51% | 1.49% | 1.49% | 1.50% | 2.69% | 10.98% |
| Public | 60.80% | 64.15% | 64.32% | 64.80% | 66.92% | 67.74% | 68.81% | 69.31% | 69.36% | 68.75% | 63.46% | 55.49% |
| No. of Shareholders | 1,04,732 | 1,44,920 | 1,74,253 | 1,79,920 | 1,78,211 | 1,74,302 | 1,92,754 | 1,89,030 | 1,84,735 | 1,83,339 | 1,65,675 | 1,64,872 |
Fundamentals
Market Cap₹ 3,578 Cr.
Current Price₹ 720
Stock P/E910
Book Value₹ 138
ROCE-2.81 %
ROE-3.34 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)221%
Compounded Profit Growth (TTM)105%
Consolidated figures.
Valuation
Market capRs 3,654 Cr
Enterprise valueRs 3,748 Cr
P/E (TTM)929.83x
Price to book11.25x
Price to sales12.96x
EV / EBITDA80.56x
EV / sales13.29x
Earnings yield0.11%
Profitability
Operating margin (excl. other income)25.84%
Operating margin (incl. other income)31.43%
EBITDA margin16.50%
Pre-tax margin-2.35%
Net profit margin1.39%
Net margin, latest quarter-3.78%
ROE13.11%
ROCE15.41%
ROA9.01%
ROE, 3-year average9.90%
ROCE, 3-year average16.52%
ROA, 3-year average6.69%
ROIC (approx.)-0.18%
Tax rate21.60%
Other income / net worth3.20%
Growth
Sales growth (latest year)16.66%
Profit growth (latest year)-27.31%
Sales CAGR, 3 years136.85%
Sales growth QoQ-51.37%
Profit growth QoQ-104.32%
Sales growth YoY (latest quarter)436.70%
Per share
EPS (TTM)Rs 0.79
EPS (latest year)Rs 14.99
EPS (latest quarter)Rs -0.52
EPS, 3-year averageRs 1,097.57
Book value per shareRs 65.32
Sales per shareRs 56.71
Cash flow per shareRs -10.71
Free cash flow per shareRs -30.57
Efficiency
Asset turnover0.38x
Fixed asset turnover3.82x
Inventory turnover0.65x
Inventory days566 days
Debtor days113 days
Debtors turnover3.22x
Creditor days153 days
Cash conversion cycle587 days
Working capital days308 days
Leverage
Total debtRs 101 Cr
Cash and bankRs 6 Cr
Net debtRs 94 Cr
Debt to equity0.31x
Net debt / EBITDA2.02x
Interest coverage-0.17x
Current ratio (filing 2026-03-31)2.62x
Quick ratio (filing 2026-03-31)1.85x
Trade payables (filing 2026-03-31)Rs 41 Cr
Owners' fund to total sources66.55%
Debt to assets20.61%
Cash flow
Cash from Operating Activity (latest year)Rs -53 Cr
Cash from Investing Activity (latest year)Rs -149 Cr
Cash from Financing Activity (latest year)Rs 176 Cr
Net Cash Flow (latest year)Rs -26 Cr
Free cash flow (latest year)Rs -152 Cr
FCFE (approx.: FCF + change in debt)Rs -68 Cr
Cash from ops / profit, 5 years-1.19x
Statement figures
Net sales (TTM)Rs 282 Cr
Net sales (latest year)Rs 186 Cr
Sales (latest quarter)Rs 69 Cr
Operating profit excl. other income (latest year)Rs 48 Cr
Operating profit (latest quarter)Rs 2 Cr
Other income (TTM)Rs 20 Cr
EBITDA (TTM)Rs 47 Cr
PBDT (TTM)Rs 41 Cr
Profit before tax (TTM)Rs -7 Cr
Tax (latest year)Rs 9 Cr
Net profit (TTM)Rs 4 Cr
Net profit (latest year)Rs 32 Cr
Net profit (latest quarter)Rs -3 Cr
Depreciation (TTM)Rs 48 Cr
Depreciation (latest quarter)Rs 14 Cr
Interest (TTM)Rs 6 Cr
Cost of goods sold (latest year)Rs 68 Cr
Total expenditure (latest year)Rs 138 Cr
Total income (latest year)Rs 196 Cr
Share capitalRs 21 Cr
ReservesRs 303 Cr
Shareholders' fundsRs 325 Cr
Total assetsRs 488 Cr
Net blockRs 49 Cr
Capital work in progressRs 25 Cr
InvestmentsRs 125 Cr
ReceivablesRs 58 Cr
InventoryRs 105 Cr
Other liabilitiesRs 63 Cr
Shares outstanding (crore)4.97
Ownership
Promoter holding25.26% (-3.71 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/B 11.25 is at the 2th percentile (median 31.40).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | IDEAFORGE | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +1.2% | -2.8% | +4.0 pts |
| 1 month | -6.2% | -6.8% | +0.6 pts |
| 3 months | -10.5% | -7.6% | -2.9 pts |
| 6 months | +97.7% | +0.4% | +97.3 pts |
| 1 year | +39.6% | -9.9% | +49.5 pts |
| 2 years | +3.7% | -13.6% | +17.3 pts |
| 3 years | -18.2% | +14.2% | -32.4 pts |
19 mutual fund schemes hold about ₹425 Cr.
Over three months 0 bought more and 0 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| HDFC Defence Fund | 0.84% | 97 | |
| Franklin India Small Cap Fund | 0.65% | 96 | |
| Mahindra Manulife Small Cap Fund | 1.04% | 57 | |
| Bandhan Small Cap Fund | 0.14% | 48 | |
| Bandhan Large & Mid Cap Fund | 0.13% | 28 | |
| HDFC Innovation Fund | 0.74% | 24 | |
| Bandhan Innovation Fund | 0.49% | 13 | |
| Helios Small Cap Fund | 0.86% | 13 | |
| Altiva Hybrid Long-Short Fund | 0.12% | 11 | |
| TRUSTMF Flexi Cap Fund | 0.81% | 8 | |
| Mahindra Manulife Manufacturing Fund | 0.94% | 6 | |
| Bandhan Aggressive Hybrid Fund | 0.19% | 5 | |
| Bandhan Infrastructure Fund | 0.35% | 5 | |
| Bandhan Business Cycle Fund | 0.45% | 5 | |
| TRUSTMF Multi Cap Fund | 0.49% | 4 | |
| TRUSTMF Mid Cap Fund | 0.69% | 3 | |
| TRUSTMF Large & Mid Cap Fund | 0.52% | 2 | |
| Motilal Oswal BSE 1000 Index Fund | 0.01% | 0 | |
| Axis Innovation Fund | 0.00% | 0 |
Red flags
F-score 1 of 8| explain | Weak cash conversion Cash from operations was -29% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 17% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 185% vs sales +17% in 2026 |
| explain | Share dilution Share count up 21200% in a year, 21200% in three |
| explain | Debt up, profit down Borrowings up 514% while net profit fell in 2026 |
| look | Inventory outrunning sales Inventory grew 114% vs sales +17% in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹69 Cr +436.7% vs Jun 2025.
Net loss ₹3 Cr.
Against our estimate for Jun 2026: sales +235.4%, profit +83.7% in line. Our estimate for Sep 2026: sales Rs 65 Cr, profit Rs -17 Cr (how).
Activity
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| Sigma Advanced System Ltd | 18,554 | 112 | 11.7 % |
| Aequs Ltd | 18,217 | 1.69 % | |
| Astra Microwave Products Ltd | 15,691 | 83.0 | 20.3 % |
| Apollo Micro Systems Ltd | 14,961 | 123 | 14.5 % |
| Zen Technologies Ltd | 14,625 | 80.5 | 16.2 % |
| Paras Defence and Space Technologies Ltd | 10,678 | 115 | 17.2 % |
| AXISCADES Technologies Ltd | 8,793 | 268 | 15.4 % |
| Unimech Aerospace and Manufacturing Ltd | 8,526 | 118 | 11.2 % |
| Mishra Dhatu Nigam Ltd | 7,851 | 58.5 | 11.4 % |
| Cyient DLM Ltd | 7,312 | 89.1 | 9.90 % |
No bulk or block deals on record.
No corporate actions on record.
| Date | Type | What it says |
|---|---|---|
| 2026-10-02 | Litigation | Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company |
| 2026-09-30 | Order win | Bagging/Receiving of orders/contracts |
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Close to Close price movement greater than 75perc in previous 6 monthsHigh low price variation greater than 100perc in previous 6 monthsHigh low price variation greater than 150perc in previous 12 monthsScrip PE is greater than 50 (4 trailing quarters)
Quick answers
What is the market cap of Ideaforge Technology Ltd?
Ideaforge Technology Ltd (IDEAFORGE) has a market capitalisation of Rs 3,578 Cr. at the 2026-10-01 close.
What is the P/E ratio of Ideaforge Technology Ltd?
Ideaforge Technology Ltd trades at a P/E of 910 on trailing twelve-month profit, at the 2026-10-01 close.
What were Ideaforge Technology Ltd's latest quarterly results?
In the Jun 2026 quarter, Ideaforge Technology Ltd sales was Rs 69 Cr (+436.7% vs Jun 2025) with a net loss of Rs 3 Cr.
What is the 52-week high and low of Ideaforge Technology Ltd?
The 52-week high is Rs 992.25 and the 52-week low is Rs 366.00.