WEBSITE BSE:544454 NSE: INDIQUBE Inc. Year: 2015 Industry: Business Support My Bucket: Add Stock
Last updated: 15:58
IndiQube Spaces Ltd. is a prominent player in managed workspace solutions in India, providing flexible office infrastructure based on an asset-light, scalable business model. The company leases commercial properties for long terms, augmented amateur technology-enabled offices, providing value-added services for developing office and functional developments, including facility management, interior design and construction, deployment and management of technology in offices via its own proprietary platform MiQube. As of March 31, 2025, IndiQube w...Read More
IndiQube Spaces Ltd. is a prominent player in managed workspace solutions in India, providing flexible office infrastructure based on an asset-light, scalable business model. The company leases commercial properties for long terms, augmented amateur technology-enabled offices, providing value-added services for developing office and functional developments, including facility management, interior design and construction, deployment and management of technology in offices via its own proprietary platform MiQube. As of March 31, 2025, IndiQube was operating 115 centres across 15 cities managing approximately 8.40 million sq ft of space, equivalent to a seating capacity of over 186,000. IndiQube’s revenue is decentralized - a large share is workspace leasing, together with revenue from value-added services such as interiors, IT support and catering. From an overall performance basis, IndiQube has shown strong topline growth (27% YoY in FY25), but still shows a net loss mainly from lease accounting under Ind AS 116. Listed recently, it has also demonstrated an improving profitability profile - IndiQube declared a 303% improvement in profitability in Q1 FY26 results, showing it can scale its operations and continue to generate recurring revenue. ...Read Less
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Market Cap ₹3762 Cr.
Stock P/E -26.9
P/B 7.1
Current Price ₹179.1
Book Value ₹ 25.2
Face Value 1
52W High ₹243.8
Dividend Yield 0%
52W Low ₹ 130.8
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Jun 2024 | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|
| Net Sales | 242 | 252 | 268 | 309 | 350 | 390 |
| Other Income | 9 | 12 | 13 | 15 | 16 | 21 |
| Total Income | 251 | 264 | 280 | 324 | 367 | 411 |
| Total Expenditure | 98 | 107 | 110 | 121 | 142 | 153 |
| Operating Profit | 153 | 157 | 170 | 203 | 224 | 258 |
| Interest | 74 | 79 | 86 | 110 | 107 | 112 |
| Depreciation | 118 | 122 | 117 | 143 | 156 | 169 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -39 | -44 | -33 | -50 | -39 | -23 |
| Provision for Tax | 3 | 9 | -19 | -13 | -9 | -6 |
| Profit After Tax | -42 | -53 | -14 | -37 | -30 | -17 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -42 | -53 | -14 | -37 | -30 | -17 |
| Adjusted Earnings Per Share | -3.2 | -4 | -1.1 | -2 | -1.4 | -0.8 |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|
| Net Sales | 344 | 580 | 831 | 1059 | 1317 |
| Other Income | 11 | 22 | 37 | 44 | 65 |
| Total Income | 355 | 601 | 868 | 1103 | 1382 |
| Total Expenditure | 215 | 343 | 604 | 443 | 526 |
| Operating Profit | 141 | 258 | 263 | 660 | 855 |
| Interest | 143 | 188 | 256 | 330 | 415 |
| Depreciation | 221 | 298 | 392 | 487 | 585 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -224 | -228 | -385 | -157 | -145 |
| Provision for Tax | -36 | -30 | -43 | -18 | -47 |
| Profit After Tax | -188 | -198 | -342 | -140 | -98 |
| Adjustments | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -188 | -198 | -342 | -140 | -98 |
| Adjusted Earnings Per Share | -16.2 | -15.2 | -26.3 | -10.7 | -5.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 27% | 45% | 0% | 0% |
| Operating Profit CAGR | 151% | 67% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | NA% | NA% | NA% | NA% |
| ROE Average | -342% | -114% | -86% | -86% |
| ROCE Average | 54% | -1% | -10% | -10% |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Shareholder's Funds | -139 | -308 | 131 | -3 |
| Minority's Interest | 0 | 0 | 0 | 0 |
| Borrowings | 329 | 574 | 100 | 222 |
| Other Non-Current Liabilities | 1722 | 2227 | 2715 | 3532 |
| Total Current Liabilities | 353 | 428 | 621 | 808 |
| Total Liabilities | 2265 | 2921 | 3567 | 4559 |
| Fixed Assets | 2006 | 2546 | 3085 | 3955 |
| Other Non-Current Assets | 195 | 264 | 315 | 394 |
| Total Current Assets | 64 | 110 | 167 | 210 |
| Total Assets | 2265 | 2921 | 3567 | 4559 |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 3 | -18 | -17 | -33 |
| Cash Flow from Operating Activities | 202 | 324 | 542 | 612 |
| Cash Flow from Investing Activities | -47 | -174 | -193 | -259 |
| Cash Flow from Financing Activities | -176 | -149 | -365 | -337 |
| Net Cash Inflow / Outflow | -21 | 1 | -15 | 15 |
| Closing Cash & Cash Equivalent | -18 | -17 | -33 | -17 |
| # | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Earnings Per Share (Rs) | -16.18 | -15.25 | -26.28 | -10.72 |
| CEPS(Rs) | 2.82 | 7.7 | 3.9 | 26.7 |
| DPS(Rs) | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -20.42 | -23.98 | 8.81 | -2.52 |
| Core EBITDA Margin(%) | 37.07 | 40.77 | 27.24 | 58.14 |
| EBIT Margin(%) | -23.07 | -6.88 | -15.5 | 16.32 |
| Pre Tax Margin(%) | -64.13 | -39.26 | -46.31 | -14.83 |
| PAT Margin (%) | -53.93 | -34.12 | -41.1 | -13.17 |
| Cash Profit Margin (%) | 9.39 | 17.23 | 6.11 | 32.77 |
| ROA(%) | -8.32 | -7.64 | -10.53 | -3.44 |
| ROE(%) | 0 | 0 | 0 | -342.19 |
| ROCE(%) | -35.86 | -14.79 | -42.26 | 54.46 |
| Receivable days | 26.53 | 18.42 | 20.32 | 23.76 |
| Inventory Days | 0 | 0 | 0 | 0 |
| Payable days | 801.39 | 320.42 | 334.23 | 346.31 |
| PER(x) | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 1.06 | 1.06 | 0.2 | 0.34 |
| EV/Core EBITDA(x) | 2.58 | 2.37 | 0.63 | 0.54 |
| Net Sales Growth(%) | 0 | 68.47 | 43.27 | 27.54 |
| EBIT Growth(%) | 0 | 50.45 | -222.67 | 234.33 |
| PAT Growth(%) | 0 | -5.17 | -72.38 | 59.12 |
| EPS Growth(%) | 0 | 5.75 | -72.38 | 59.2 |
| Debt/Equity(x) | -1.53 | -2 | 1.42 | -13.42 |
| Current Ratio(x) | 0.18 | 0.26 | 0.27 | 0.26 |
| Quick Ratio(x) | 0.18 | 0.26 | 0.27 | 0.26 |
| Interest Cover(x) | -0.56 | -0.21 | -0.5 | 0.52 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 |
| # | Jun 2025 | Jul 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Promoter | 60.6 | 60.6 | 60.6 | 60.04 | 60.1 |
| FII | 22.88 | 22.88 | 2.67 | 2.3 | 2.18 |
| DII | 11.64 | 11.64 | 14.37 | 14.65 | 14.68 |
| Public | 4.88 | 4.88 | 22.36 | 23.01 | 23.05 |
| Others | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2025 | Jul 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Promoter | 12.73 | 12.73 | 12.73 | 12.73 | 12.74 |
| FII | 4.81 | 4.81 | 0.56 | 0.49 | 0.46 |
| DII | 2.44 | 2.44 | 3.02 | 3.11 | 3.11 |
| Public | 1.02 | 1.02 | 4.7 | 4.88 | 4.89 |
| Others | 0 | 0 | 0 | 0 | 0 |
| Total | 21 | 21 | 21 | 21.2 | 21.2 |
* The pros and cons are machine generated.
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