Icodex Publishing Solutions Ltd

Icodex Publish. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Icodex Publishing Solutions Ltd

₹ 56.5 1.62%
17 Nov - close price
icodexsolutions.com BSE - SME: 544483
About

Incorporated in 2018, Icodex Publishing Solutions Limited is engaged in the business of Software Product Development for Scholarly Publishing.[1]

Key Points

Service Offerings[1]
Icodex's offerings span the entire publishing workflow—from manuscript preparation to print/digital content distribution—along with business process management (BPM) and IT infrastructure support.

Website BSE
  • Market Cap ₹ 88.4 Cr.
  • Current Price ₹ 56.5
  • High / Low ₹ 81.6 / 39.2
  • Stock P/E 8.72
  • Book Value ₹ 35.0
  • Dividend Yield 0.00 %
  • ROCE 82.8 %
  • ROE 64.8 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 64.6%

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Debtor days have increased from 66.6 to 82.4 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Information Technology Information Technology IT - Services IT Enabled Services

Part of BSE SME IPO

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Half Yearly Results

Figures in Rs. Crores

Sep 2024 Sep 2025
10.84 13.89
4.64 6.14
Operating Profit 6.20 7.75
OPM % 57.20% 55.80%
0.07 0.13
Interest 0.08 0.16
Depreciation 0.17 0.37
Profit before tax 6.02 7.35
Tax % 28.24% 25.31%
4.33 5.50
EPS in Rs 43,300.00 3.52
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
4.96 8.18 9.54 10.40 21.88
3.99 6.42 7.59 6.14 8.45
Operating Profit 0.97 1.76 1.95 4.26 13.43
OPM % 19.56% 21.52% 20.44% 40.96% 61.38%
0.23 0.04 0.18 0.59 0.20
Interest 0.18 0.00 0.01 0.04 0.22
Depreciation 0.02 0.14 0.28 0.36 0.59
Profit before tax 1.00 1.66 1.84 4.45 12.82
Tax % 1.00% 22.29% 1.63% 0.90% 30.11%
0.99 1.29 1.81 4.40 8.96
EPS in Rs 9,900.00 12,900.00 18,100.00 44,000.00 7.32
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 39%
TTM: 110%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 91%
TTM: 104%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: %
3 Years: 65%
Last Year: 65%

Balance Sheet

Figures in Rs. Crores

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 0.00 0.00 0.00 0.00 12.24 15.64
Reserves 1.12 2.38 4.19 8.59 6.81 39.09
0.00 0.00 0.02 0.88 2.99 4.20
1.26 1.46 1.64 1.20 2.71 3.78
Total Liabilities 2.38 3.84 5.85 10.67 24.75 62.71
0.27 0.71 0.77 0.62 5.35 19.50
CWIP 0.00 0.00 0.53 3.38 8.85 0.00
Investments 0.50 0.00 0.00 0.00 0.00 0.00
1.61 3.13 4.55 6.67 10.55 43.21
Total Assets 2.38 3.84 5.85 10.67 24.75 62.71

Cash Flows

Figures in Rs. Crores

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
1.24 1.27 3.81 6.35
-0.49 -1.10 -3.26 -9.22
0.00 0.01 0.83 3.44
Net Cash Flow 0.75 0.19 1.38 0.57

Ratios

Figures in Rs. Crores

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 65.49 53.55 69.25 48.08 82.41
Inventory Days
Days Payable
Cash Conversion Cycle 65.49 53.55 69.25 48.08 82.41
Working Capital Days 8.09 0.45 21.04 -2.46 28.69
ROCE % 94.86% 56.15% 65.64% 82.77%

Shareholding Pattern

Numbers in percentages

10 Recently
Sep 2025
64.44%
0.07%
35.49%
No. of Shareholders 1,113

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

No data available.

DRHP