Price
Financials
Consolidated, Rs crore| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 313 | 350 | 352 | 358 | 379 | 425 | 472 | 520 | 546 |
| Expenses | 121 | 136 | 134 | 126 | 138 | 155 | 167 | 181 | 200 |
| Operating Profit | 192 | 214 | 218 | 232 | 241 | 270 | 306 | 338 | 346 |
| OPM % | 61% | 61% | 62% | 65% | 64% | 64% | 65% | 65% | 63% |
| Other Income | 10 | 10 | 12 | 4 | 9 | 16 | 16 | 13 | 13 |
| Interest | 86 | 86 | 85 | 80 | 81 | 93 | 97 | 95 | 96 |
| Depreciation | 147 | 160 | 167 | 161 | 174 | 198 | 223 | 234 | 246 |
| Profit before tax | -31 | -21 | -22 | -5 | -6 | -4 | 2 | 22 | 18 |
| Tax % | -26% | -25% | -28% | 68% | -25% | -28% | 21% | 25% | 25% |
| Net Profit | -23 | -16 | -16 | -8 | -4 | -3 | 1 | 17 | 13 |
| EPS in Rs | -2.78 | -1.89 | -1.55 | -0.80 | -0.41 | -0.27 | 0.11 | 1.45 | 1.15 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 254 | 280 | 360 | 711 | 1,039 | 1,374 | 1,796 | 1,963 |
| Expenses | 119 | 113 | 154 | 287 | 380 | 517 | 640 | 703 |
| Operating Profit | 135 | 166 | 206 | 424 | 660 | 857 | 1,155 | 1,260 |
| OPM % | 53% | 59% | 57% | 60% | 63% | 62% | 64% | 64% |
| Other Income | 8 | 30 | 34 | 33 | 74 | 36 | 54 | 59 |
| Interest | 70 | 97 | 122 | 237 | 328 | 336 | 366 | 381 |
| Depreciation | 103 | 172 | 212 | 356 | 473 | 636 | 829 | 901 |
| Profit before tax | -31 | -72 | -94 | -136 | -68 | -79 | 14 | 37 |
| Tax % | -28% | -25% | -26% | -26% | -26% | -20% | 24% | |
| Net Profit | -22 | -54 | -70 | -101 | -50 | -63 | 11 | 28 |
| EPS in Rs | -2.90 | -7.02 | -9.05 | -13.01 | -6.32 | -6.12 | 0.92 | 2.44 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 45% | 36% | 36% | ||
| Compounded Profit Growth | % | 17% | 28% | 163% | ||
| Stock Price CAGR | % | % | % | -9% | ||
| Return on Equity | % | -42% | -24% | 3% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 77 | 77 | 77 | 78 | 79 | 103 | 114 |
| Reserves | 161 | 107 | 37 | -46 | -29 | 5 | 416 |
| Borrowings | 61 | 134 | 248 | 3,913 | 3,436 | 3,737 | 4,778 |
| Other Liabilities | 1,060 | 1,175 | 2,498 | 529 | 661 | 806 | 1,155 |
| Total Liabilities | 1,359 | 1,494 | 2,860 | 4,474 | 4,147 | 4,651 | 6,464 |
| Fixed Assets | 1,066 | 1,174 | 2,328 | 3,724 | 3,412 | 3,780 | 5,236 |
| CWIP | 21 | 13 | 89 | 52 | 72 | 139 | 58 |
| Investments | 114 | 0 | 0 | 0 | 11 | 11 | 2 |
| Other Assets | 158 | 307 | 442 | 697 | 652 | 721 | 1,168 |
| Total Assets | 1,359 | 1,494 | 2,860 | 4,474 | 4,147 | 4,651 | 6,464 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 114 | 153 | 216 | 532 | 743 | 929 | 1,197 |
| Cash from Investing Activity | -219 | -41 | -95 | -307 | -192 | -276 | -499 |
| Cash from Financing Activity | 113 | -161 | -109 | -171 | -577 | -638 | -621 |
| Net Cash Flow | 9 | -50 | 13 | 55 | -26 | 15 | 77 |
| Free Cash Flow | 8 | 86 | 105 | 235 | 480 | 638 | 810 |
| CFO/OP | 90% | 89% | 107% | 126% | 116% | 105% | 105% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 6 | 9 | 10 | 7 | 5 | 7 | 8 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 6 | 9 | 10 | 7 | 5 | 7 | 8 |
| Working Capital Days | -200 | -322 | -391 | -326 | -267 | -274 | -233 |
| ROCE % | 8% | 8% | 5% | 7% | 7% | 8% |
| Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|
| Promoters | 58.18% | 58.18% | 58.33% | 58.33% |
| FIIs | 0.93% | 0.33% | 0.16% | 0.28% |
| DIIs | 9.03% | 8.96% | 9.06% | 8.92% |
| Public | 31.86% | 32.53% | 32.46% | 32.47% |
| No. of Shareholders | 24,158 | 21,200 | 20,825 | 20,263 |
Fundamentals
Market Cap₹ 5,871 Cr.
Current Price₹ 514
Stock P/E211
Book Value₹ 46.4
ROCE8.29 %
ROE3.14 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)36%
Compounded Profit Growth (TTM)163%
Consolidated figures.
Valuation
Market capRs 3,967 Cr
Enterprise valueRs 7,667 Cr
P/E (TTM)377.12x
Price to book126.11x
Price to sales2.21x
EV / EBITDA6.34x
EV / EBIT20.18x
EV / sales4.27x
Price to cash flow7.46x
Earnings yield0.27%
Profitability
Operating margin (excl. other income)59.60%
Operating margin (incl. other income)64.20%
EBITDA margin67.34%
Pre-tax margin0.77%
Net profit margin0.59%
Net margin, latest quarter3.20%
ROE-138.85%
ROCE4.66%
ROA-2.76%
ROE, 3-year average-70.47%
ROCE, 3-year average6.91%
ROA, 3-year average-3.25%
ROIC (approx.)7.55%
Tax rate25.82%
Other income / net worth103.88%
Growth
Sales growth (latest year)97.48%
Sales CAGR, 3 years41.03%
Sales growth QoQ10.07%
Profit growth QoQ1240.32%
Sales growth YoY (latest quarter)44.99%
Per share
EPS (TTM)Rs 1.35
EPS (latest year)Rs -13.01
EPS (latest quarter)Rs 2.14
EPS, 3-year averageRs -9.69
Book value per shareRs 4.05
Sales per shareRs 231.15
Cash flow per shareRs 68.45
Free cash flow per shareRs 104.26
Efficiency
Asset turnover0.16x
Fixed asset turnover0.19x
Debtor days7 days
Debtors turnover49.68x
Cash conversion cycle8 days
Working capital days-233 days
Leverage
Total debtRs 3,913 Cr
Cash and bankRs 214 Cr
Net debtRs 3,699 Cr
Debt to equity124.38x
Net debt / EBITDA3.06x
Interest coverage1.04x
Current ratio (filing 2026-03-31)0.35x
Quick ratio (filing 2026-03-31)0.35x
Trade payables (filing 2026-03-31)Rs 192 Cr
Owners' fund to total sources0.70%
Debt to assets87.47%
Cash flow
Cash from Operating Activity (latest year)Rs 532 Cr
Cash from Investing Activity (latest year)Rs -307 Cr
Cash from Financing Activity (latest year)Rs -171 Cr
Net Cash Flow (latest year)Rs 55 Cr
Free cash flow (latest year)Rs 810 Cr
FCFE (approx.: FCF + change in debt)Rs 4,475 Cr
Sales to cash flow1.34x
Statement figures
Net sales (TTM)Rs 1,796 Cr
Net sales (latest year)Rs 711 Cr
Sales (latest quarter)Rs 520 Cr
Operating profit excl. other income (latest year)Rs 424 Cr
Operating profit (latest quarter)Rs 338 Cr
Other income (TTM)Rs 54 Cr
EBITDA (TTM)Rs 1,209 Cr
PBDT (TTM)Rs 843 Cr
Profit before tax (TTM)Rs 14 Cr
Tax (latest year)Rs -35 Cr
Net profit (TTM)Rs 11 Cr
Net profit (latest year)Rs -101 Cr
Net profit (latest quarter)Rs 17 Cr
Depreciation (TTM)Rs 829 Cr
Depreciation (latest quarter)Rs 234 Cr
Interest (TTM)Rs 366 Cr
Cost of goods sold (latest year)Rs 212 Cr
Total expenditure (latest year)Rs 287 Cr
Total income (latest year)Rs 744 Cr
Share capitalRs 78 Cr
ReservesRs -46 Cr
Shareholders' fundsRs 31 Cr
Total assetsRs 4,474 Cr
Net blockRs 3,724 Cr
Capital work in progressRs 52 Cr
ReceivablesRs 14 Cr
Other liabilitiesRs 529 Cr
Shares outstanding (crore)7.77
Ownership
Promoter holding58.33%
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | SMARTWORKS | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -5.3% | -2.8% | -2.5 pts |
| 1 month | -2.9% | -6.8% | +3.9 pts |
| 3 months | +7.6% | -7.6% | +15.2 pts |
| 6 months | +37.1% | +0.4% | +36.7 pts |
| 1 year | -11.1% | -9.9% | -1.1 pts |
17 mutual fund schemes hold about ₹241 Cr.
Over three months 9 bought more and 5 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Tata Small Cap Fund | 0.89% | 117 | -2% |
| ITI Small Cap Fund | 1.09% | 39 | +100% |
| Baroda BNP Paribas Balanced Advantage Fund | 0.58% | 31 | -7% |
| Baroda BNP Paribas Large & Mid Cap Fund | 1.37% | 26 | -8% |
| ITI Mid Cap Fund | 0.64% | 10 | +100% |
| Mahindra Manulife Flexi Cap Fund | 0.52% | 8 | +100% |
| Motilal Oswal Nifty Microcap 250 Index Fund | 0.17% | 4 | -4% |
| Mahindra Manulife Innovation Opportunities Fund | 1.02% | 3 | +100% |
| Quantum Small Cap Fund | 0.76% | 2 | +100% |
| ITI Bharat Consumption Fund | 0.31% | 1 | +100% |
| Groww Nifty Total Market Index Fund | 0.01% | 0 | +6% |
| Motilal Oswal BSE 1000 Index Fund | 0.01% | 0 | +1% |
| Baroda BNP Paribas Multi Cap Fund | 0.00% | 0 | -100% |
| Angel One Nifty Total Market Index Fund | 0.01% | 0 | +6% |
| Mirae Asset Nifty Total Market Index Fund | 0.01% | 0 | +6% |
| Edelweiss Recently Listed IPO Fund | 0.00% | 0 | -100% |
| Bandhan Nifty Total Market Index Fund | 0.01% | 0 | -7% |
Red flags
F-score 6 of 8| explain | Debt up, profit down Borrowings up 1480% while net profit fell in 2026 |
| look | Repeated losses Net loss in each of the last two years |
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 ₹546 Cr +44.1% vs Jun 2025.
Net profit ₹13 Cr +425.0%.
Activity
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| Nirlon Ltd | 5,460 | 15.3 | 30.8 % |
| Quess Corp Ltd | 5,109 | 19.8 | 24.0 % |
| Indiqube Spaces Ltd | 4,148 | 6.38 % | |
| Sanghvi Movers Ltd | 3,930 | 19.2 | 15.6 % |
| CMS Info Systems Ltd | 3,675 | 12.2 | 17.9 % |
| Hemisphere Properties India Ltd | 3,274 | -1.14 % | |
| EFC (I) Ltd | 2,578 | 10.0 | 19.8 % |
| TVS Infrastructure Trust | 2,347 | 45.4 | % |
No bulk or block deals on record.
No corporate actions on record.
| Date | Type | What it says |
|---|---|---|
| 2026-09-30 | Updates | Press Release - "Smartworks Announces Managed office Deals Worth -INR 305 Crore from New Clients".. |
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.
Scrip PE is greater than 50 (4 trailing quarters)
Quick answers
What is the market cap of Smartworks Coworking Spaces Ltd?
Smartworks Coworking Spaces Ltd (SMARTWORKS) has a market capitalisation of Rs 5,871 Cr. at the 2026-10-01 close.
What is the P/E ratio of Smartworks Coworking Spaces Ltd?
Smartworks Coworking Spaces Ltd trades at a P/E of 211 on trailing twelve-month profit, at the 2026-10-01 close.
What were Smartworks Coworking Spaces Ltd's latest quarterly results?
In the Jun 2026 quarter, Smartworks Coworking Spaces Ltd sales was Rs 546 Cr (+44.1% vs Jun 2025) and net profit was Rs 13 Cr.
What is the 52-week high and low of Smartworks Coworking Spaces Ltd?
The 52-week high is Rs 619.00 and the 52-week low is Rs 361.50.