Infibeam Avenues Ltd
Incorporated in 2017, Infibeam Avenues Ltd is in the business of software development services, maintenance, web development, payment gateway services, e-commerce and other ancillary services[1]
- Market Cap ₹ 6,280 Cr.
 - Current Price ₹ 19.3
 - High / Low ₹ 26.4 / 12.6
 - Stock P/E 37.5
 - Book Value ₹ 9.58
 - Dividend Yield 0.00 %
 - ROCE 7.32 %
 - ROE 5.13 %
 - Face Value ₹ 1.00
 
Pros
- Company is almost debt free.
 - Company is expected to give good quarter
 - Company has delivered good profit growth of 34.1% CAGR over last 5 years
 - Company's median sales growth is 47.5% of last 10 years
 
Cons
- Promoter holding is low: 27.3%
 - Company has a low return on equity of 4.74% over last 3 years.
 - Promoter holding has decreased over last 3 years: -3.37%
 
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 11 | 29 | 43 | 53 | 306 | 545 | 582 | 577 | 1,167 | 1,787 | 2,961 | 3,727 | 4,243 | |
| 11 | 35 | 34 | 33 | 245 | 455 | 455 | 453 | 1,030 | 1,612 | 2,720 | 3,479 | 4,003 | |
| Operating Profit | -0 | -6 | 9 | 20 | 60 | 90 | 127 | 124 | 137 | 176 | 242 | 248 | 240 | 
| OPM % | -0% | -20% | 20% | 37% | 20% | 16% | 22% | 22% | 12% | 10% | 8% | 7% | 6% | 
| 0 | 0 | 18 | 36 | 27 | 23 | 9 | 9 | 8 | 64 | 19 | 35 | 51 | |
| Interest | 0 | 0 | 0 | 3 | 4 | 5 | 4 | 4 | 2 | 2 | 3 | 7 | 6 | 
| Depreciation | 1 | 3 | 4 | 6 | 43 | 46 | 71 | 69 | 59 | 56 | 53 | 54 | 50 | 
| Profit before tax | -1 | -8 | 22 | 46 | 40 | 62 | 60 | 60 | 85 | 182 | 205 | 223 | 235 | 
| Tax % | 0% | 0% | -87% | 100% | 66% | 37% | 36% | 18% | 17% | 25% | 26% | 28% | |
| -1 | -8 | 42 | 0 | 13 | 39 | 39 | 49 | 70 | 136 | 152 | 160 | 167 | |
| EPS in Rs | -0.01 | -0.04 | 0.16 | 0.00 | 0.05 | 0.12 | 0.12 | 0.15 | 0.21 | 0.40 | 0.44 | 0.46 | 0.48 | 
| Dividend Payout % | 0% | 0% | 0% | 0% | 81% | 0% | 17% | 13% | 19% | 10% | 9% | 0% | 
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 62% | 
| 5 Years: | 45% | 
| 3 Years: | 47% | 
| TTM: | 44% | 
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 36% | 
| 5 Years: | 34% | 
| 3 Years: | 34% | 
| TTM: | 5% | 
| Stock Price CAGR | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 3% | 
| 3 Years: | 7% | 
| 1 Year: | -23% | 
| Return on Equity | |
|---|---|
| 10 Years: | 3% | 
| 5 Years: | 4% | 
| 3 Years: | 5% | 
| Last Year: | 5% | 
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 40 | 43 | 53 | 54 | 54 | 66 | 66 | 133 | 268 | 268 | 278 | 279 | 
| Reserves | 101 | 229 | 676 | 751 | 2,519 | 2,533 | 2,530 | 2,524 | 2,485 | 2,692 | 2,892 | 3,064 | 
| 4 | 2 | 2 | 85 | 57 | 35 | 26 | 20 | 7 | 8 | 12 | 18 | |
| 1 | 12 | 35 | 76 | 217 | 359 | 258 | 596 | 807 | 850 | 1,452 | 1,143 | |
| Total Liabilities | 146 | 286 | 766 | 966 | 2,847 | 2,994 | 2,881 | 3,273 | 3,567 | 3,817 | 4,634 | 4,504 | 
| 7 | 11 | 17 | 22 | 2,019 | 2,051 | 2,106 | 2,078 | 2,036 | 2,075 | 1,915 | 1,877 | |
| CWIP | 4 | 3 | 5 | 106 | 33 | 32 | 0 | 14 | 66 | 5 | 0 | 2 | 
| Investments | 15 | 15 | 90 | 75 | 75 | 221 | 301 | 391 | 447 | 628 | 838 | 869 | 
| 120 | 256 | 655 | 762 | 720 | 689 | 474 | 790 | 1,019 | 1,110 | 1,881 | 1,756 | |
| Total Assets | 146 | 286 | 766 | 966 | 2,847 | 2,994 | 2,881 | 3,273 | 3,567 | 3,817 | 4,634 | 4,504 | 
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 13 | 15 | 21 | -5 | 3 | 180 | 24 | 158 | 102 | 178 | 605 | 23 | |
| -65 | -138 | -7 | -493 | 65 | -99 | -53 | -112 | -68 | -156 | -274 | -349 | |
| 52 | 125 | 441 | 115 | -56 | -46 | -21 | -9 | -36 | 37 | 106 | -18 | |
| Net Cash Flow | 1 | 2 | 455 | -383 | 12 | 35 | -49 | 37 | -2 | 59 | 438 | -343 | 
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 39 | 78 | 58 | 79 | 45 | 8 | 12 | 25 | 14 | 11 | 15 | 9 | 
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 39 | 78 | 58 | 79 | 45 | 8 | 12 | 25 | 14 | 11 | 15 | 9 | 
| Working Capital Days | 185 | 65 | -28 | 1,683 | 267 | 73 | 55 | 52 | 22 | 18 | -8 | 53 | 
| ROCE % | -1% | -4% | 4% | 6% | 2% | 2% | 2% | 2% | 3% | 6% | 7% | 7% | 
Documents
Announcements
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          Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
          
            3h - Infibeam Avenues Q2 FY26 results call Nov 13, 2025 at 4:30 PM IST.
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          Board Meeting Intimation for Consideration And Approval Of The Unaudited Financial Results For The Quarter And Half Year Ended On September 30, 2025 And To Consider Other Business Items, If Any
          
            1d - Board meeting Nov 13, 2025 to approve unaudited results for quarter/half-year ended Sep 30, 2025.
 - 
        
          Receipt Of In-Principle Approval For Issuance Of Prepaid Payment Instruments By Reserve Bank Of India ('RBI')
          
            28 Oct - RBI granted in-principle approval for Infibeam to issue Prepaid Payment Instruments on Oct 27, 2025; final license pending SAR.
 - 
        
          Receipt Of In-Principle Approval By IA Fintech IFSC Private Limited, Our Wholly Owned Subsidiary Company To Act As A Payment Service Provider (PSP) In GIFT-IFSC
          
            27 Oct - Oct 27, 2025: IA Fintech (wholly-owned) received IFSCA in-principle PSP approval for escrow, cross-border transfers, merchant acquisition.
 - 
        
          Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
          
            14 Oct - RTA confirmation under Reg 74(5) for quarter ended September 30, 2025.
 
Annual reports
Concalls
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Market Leadership
The company is a market leader in India’s digital payments sector, with an 8% market share. It ranks among India’s top 3 B2B payment gateways and is also a key player in the UAE, where it became the second-largest non-bank private payment company within 18 months. [1]