Indiqube Spaces Ltd
Incorporated in 2015, IndiQube Spaces Ltd provides workplace solutions to its clients.[1]
- Market Cap ₹ 3,463 Cr.
- Current Price ₹ 163
- High / Low ₹ 244 / 131
- Stock P/E
- Book Value ₹ 24.3
- Dividend Yield 0.00 %
- ROCE 6.38 %
- ROE -42.2 %
- Face Value ₹ 1.00
Pros
- Company is expected to give good quarter
Cons
- Stock is trading at 6.73 times its book value
- Company has low interest coverage ratio.
* 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
Part of BSE IPO BSE Services Nifty IPO
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 240 | 294 | 344 | 580 | 831 | 1,059 | 1,451 | |
| 216 | 252 | 214 | 343 | 604 | 443 | 569 | |
| Operating Profit | 24 | 42 | 130 | 237 | 226 | 617 | 881 |
| OPM % | 10% | 14% | 38% | 41% | 27% | 58% | 61% |
| 0 | 1 | 11 | 22 | 37 | 44 | 77 | |
| Interest | 18 | 22 | 143 | 188 | 256 | 330 | 448 |
| Depreciation | 25 | 37 | 221 | 298 | 392 | 487 | 645 |
| Profit before tax | -19 | -16 | -224 | -228 | -385 | -157 | -136 |
| Tax % | -16% | 0% | -16% | -13% | -11% | -11% | -22% |
| -16 | -16 | -188 | -198 | -342 | -140 | -106 | |
| EPS in Rs | -5.02 | ||||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 38% |
| 3 Years: | 36% |
| TTM: | 37% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 14% |
| TTM: | 24% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | -42% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.16 | 0.16 | 0.16 | 0.18 | 0.18 | 13 | 21 |
| Reserves | 65 | 49 | -139 | -308 | 129 | -23 | 494 |
| 121 | 154 | 2,160 | 2,926 | 3,050 | 4,095 | 5,207 | |
| 264 | 245 | 262 | 352 | 489 | 600 | 790 | |
| Total Liabilities | 450 | 448 | 2,284 | 2,969 | 3,668 | 4,685 | 6,511 |
| 248 | 238 | 2,006 | 2,546 | 3,085 | 3,955 | 5,213 | |
| CWIP | 0 | 0 | 26 | 24 | 79 | 114 | 96 |
| Investments | 2 | 2 | 2 | 1 | 1 | 0 | 0 |
| 200 | 208 | 250 | 398 | 503 | 616 | 1,202 | |
| Total Assets | 450 | 448 | 2,284 | 2,969 | 3,668 | 4,685 | 6,511 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 47 | 39 | 202 | 324 | 542 | 612 | 920 | |
| -105 | -53 | -47 | -174 | -193 | -259 | -737 | |
| 34 | 14 | -176 | -149 | -365 | -337 | -178 | |
| Net Cash Flow | -24 | -1 | -21 | 1 | -15 | 15 | 6 |
| Free Cash Flow | -56 | -15 | 155 | 152 | 353 | 355 | 494 |
| CFO/OP | 250% | 93% | 160% | 141% | 231% | 101% | 108% |
Ratios
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 18 | 26 | 27 | 21 | 26 | 27 | 28 |
| Inventory Days | 3 | ||||||
| Days Payable | 304 | ||||||
| Cash Conversion Cycle | 18 | 26 | 27 | 21 | 26 | 27 | -273 |
| Working Capital Days | -176 | -167 | -307 | -207 | -200 | -208 | -193 |
| ROCE % | 4% | -7% | -2% | -4% | 5% | 6% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Area Under Management (AUM) Million Sq. ft. |
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| Monthly Average Churn Rate % |
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| Number of Cities Present Number |
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| Number of Clients Number |
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| Number of Operational Centers Number |
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| Occupancy Rate (Overall) % |
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| Rent Yielding Area (RYA) Million Sq. ft. |
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| Steady State Occupancy (>12 months centers) % |
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| Total Number of Seats Number |
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| Value Added Services (VAS) Contribution to Revenue % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
21 May - Audio recording of investor/analyst call held May 21, 2026 for Q4 and FY26 results.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
21 May - Audio recording of May 21, 2026 investor call on Q4 and FY26 results available online.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
21 May - Newspaper publication: Audited financial results of Company for the quarter and year ended March 31, 2026
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Announcement under Regulation 30 (LODR)-Change in Management
21 May - Board approved FY26 audited results, IPO proceeds variation, new Company Secretary, and auditors on May 20, 2026.
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Announcement under Regulation 30 (LODR)-Change in Management
20 May - Board approved FY26 audited standalone results, IPO proceeds variation, and appointed Bhasker Dubey as Company Secretary effective May 20, 2026.
Annual reports
Concalls
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May 2026TranscriptAI SummaryPPT
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT
Business Overview:[1]
IQSL is a managed workplace solutions provider offering tech-driven, sustainable office services aimed at reimagining traditional workspaces. Key offerings include:
a) Workspace Leasing:
Hubs: Centralised offices for core teams
Spokes: Regional branch offices