Indiabulls Limited

₹ 30.0 -4.12%

09 Nov - close price

indiabulls.com BSE: 533520 NSE: IBULLSLTD

About

Incorporated in 2007, Indiabulls Ltd is in the business of Real Estate and Financial Services^[1]

Key Points

Business Overview:^[1]
Indiabulls Ltd is engaged in real estate development and select financial services
businesses. The co. develops residential and commercial properties across key Indian
markets and also operates businesses in stockbroking, digital payments, asset -
reconstruction, and technology-enabled small and medium enterprise lending.

Website BSE NSE

Market Cap ₹ 6,999 Cr.
Current Price ₹ 30.0
High / Low ₹ 38.9 / 8.90
Stock P/E 11.0
Book Value ₹ 16.0
Dividend Yield 0.00 %
ROCE 8.18 %
ROE 11.7 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company is almost debt free.
Company is expected to give good quarter
Company has delivered good profit growth of 36.6% CAGR over last 5 years
Debtor days have improved from 43.4 to 33.4 days.

Cons

Promoter holding is low: 32.9%
Working capital days have increased from -1,52,436 days to 94.7 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

Services Services Commercial Services & Supplies Diversified Commercial Services

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	0	-0	0	0	115	106	102	92	236	97	409	359	332
YoY Sales growth	+100%			-100%		+48,477%			+106%	-9%	+302%	+292%	+40%
	1	2	1	0	103	82	284	78	129	111	238	206	160
Operating Profit	-1	-2	-1	-0	12	24	-182	14	107	-14	170	154	172
OPM %					11%	23%	-180%	15%	45%	-15%	42%	43%	52%
	0	3	0	0	12	14	48	12	20	6	-55	25	5
Interest	4	5	6	5	22	7	13	8	15	10	10	10	10
Depreciation	0	0	0	0	10	10	10	10	10	9	9	8	8
Profit before tax	-6	-4	-7	-5	-8	22	-157	7	103	-28	96	161	159
Tax %	0%	0%	0%	0%	69%	114%	4%	125%	27%	-384%	-102%	12%	5%
	-6	-4	-7	-5	-13	-3	-164	-2	75	78	194	141	151
EPS in Rs	-0.57	-0.37	-0.67	-0.53	-1.17	-0.37	-16.26	0.04	0.07	0.34	0.84	0.61	0.65
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	207	310	223	233	171	225	168	1	0	0	444	833	1,197
Sales growth	-25%	+50%	-28%	+4%	-27%	+32%	-25%	-99%	-91%	-82%	+2,221,750%	+88%	+123%
	163	225	193	182	173	281	163	95	11	5	641	554	715
Operating Profit	45	85	31	51	-2	-56	5	-93	-11	-5	-196	279	482
OPM %	22%	27%	14%	22%	-1.2%	-25%	3.2%	-7,349%	-10,309%	-22,850%	-44%	33%	40%
	0	2	20	32	179	-49	74	20	185	3	89	-19	-20
Interest	13	45	36	43	42	130	125	57	87	19	66	44	39
Depreciation	17	36	27	28	26	32	29	2	1	0	46	37	34
Profit before tax	15	6	-13	12	108	-267	-75	-132	85	-22	-219	179	389
Tax %	-21%	-18%	1%	37%	28%	10%	17%	11%	-12%	0%	24%	-93%
	18	7	-13	8	78	-293	-88	-146	95	-22	-273	346	565
EPS in Rs	3.50	1.40	-4.15	0.63	8.21	-33.09	-10.58	-16.32	9.45	-2.15	-25.89	1.18	2.44
Dividend Payout %	0%	0%	0%	159%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	10%
5 Years:	38%
3 Years:	1864%
TTM:	123%

Compounded Profit Growth
10 Years:	46%
5 Years:	37%
3 Years:	50%
TTM:	482%

Stock Price CAGR
10 Years:	5%
5 Years:	-19%
3 Years:	45%
1 Year:	43%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	10	10	10	11	18	18	18	20	20	20	419	447	455
Reserves	870	877	310	472	1,415	290	394	-314	-243	-254	2,054	2,637	3,275
	293	447	697	671	342	1,141	332	502	214	244	973	459	230
	62	727	138	72	196	235	881	85	46	36	597	632	644
Total Liabilities	1,235	2,060	1,155	1,226	1,971	1,684	1,625	294	38	46	4,043	4,173	4,604
	690	937	604	502	420	355	235	6	1	0	634	569	564
CWIP	6	0	0	0	0	0	1	0	0	0	1	1	0
Investments	0	0	0	222	874	541	589	48	22	31	73	118	646
	539	1,124	551	502	677	788	801	239	15	14	3,335	3,484	3,395
Total Assets	1,235	2,060	1,155	1,226	1,971	1,684	1,625	294	38	46	4,043	4,173	4,604

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	21	168	-529	-76	-175	-218	841	-487	-11	-12	110	194
	-45	-271	571	-19	-549	-499	179	328	223	0	68	59
	19	107	-30	97	709	717	-1,004	157	-212	12	-86	-216
Net Cash Flow	-5	4	13	2	-14	-0	16	-2	-1	-0	92	37
Free Cash Flow	-31	-99	-537	15	-244	-212	950	-490	-11	-12	110	161
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	51%	217%	-1,709%	-152%	7,948%	343%	15,509%	516%	107%	44%	-56%	69%

Ratios

Consolidated / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	134	68	77	158	185	131	180	167	1,560	0	53	33
Inventory Days	229			450	244							1,147
Days Payable	360			490	239							427
Cash Conversion Cycle	4	68	77	118	190	131	180	167	1,560	0	53	754
Working Capital Days	294	364	53	-457	668	-1,125	-780	-15,801	-105,916	-457,528	124	95
ROCE %	3%	4%	2%	3%	1%	1%	2%	-14%	174%	-338%	-8%	8%

Insights

In beta

Mar 2026

ARC - Assets Under Collection
INR Cr

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Real Estate - Area Sold
lakh sqft

Real Estate - Collections
INR Cr

Real Estate - Sales Booked
INR Cr

Real Estate - Total GDV Portfolio
INR Cr

Real Estate - Total Sellable Area
lakh sqft

Stock Broking - Active Accounts
number

Stock Broking - Client Assets
INR Cr

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

6 Recently

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	27.46%	27.46%	27.46%	27.46%	27.46%	27.46%	27.46%	27.46%	32.89%	32.89%	32.91%	32.87%
	9.15%	9.06%	8.47%	0.00%	0.01%	0.50%	0.53%	1.29%	17.92%	17.00%	17.08%	13.42%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	0.05%	0.08%	0.16%	0.11%	0.11%
	61.64%	61.75%	62.33%	70.81%	70.78%	70.29%	70.21%	69.46%	45.21%	46.05%	45.99%	51.20%
	1.75%	1.75%	1.75%	1.75%	1.75%	1.75%	1.75%	1.75%	3.92%	3.92%	3.91%	2.39%
No. of Shareholders	66,649	66,493	65,369	64,678	63,447	61,705	60,247	56,661	2,50,082	2,49,915	2,49,884	2,51,001

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	33.59%	38.55%	43.25%	43.25%	43.25%	43.25%	27.46%	27.46%	27.46%	32.89%	32.87%
	0.19%	5.14%	23.53%	20.09%	14.12%	13.65%	11.72%	9.06%	0.50%	17.00%	13.42%
	0.20%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%	0.11%
	66.02%	56.28%	33.22%	36.65%	40.67%	41.14%	59.07%	61.75%	70.29%	46.05%	51.20%
	0.00%	0.00%	0.00%	0.00%	1.96%	1.96%	1.75%	1.75%	1.75%	3.92%	2.39%
No. of Shareholders	59,392	53,012	50,761	50,807	48,504	49,871	68,234	66,493	61,705	2,49,915	2,51,001

* 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.

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Indiabulls Limited

Indiabulls Limited

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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