IT - Software · Founded 2011 · www.infobeans.com · BSE 543644 · NSE INFOBEAN · ISIN INE344S01016
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Business
Infobeans Technologies Ltd. is an Indian IT services company specializing in digital transformation and product engineering services. The company helps clients transform their businesses by leveraging modern technologies, focusing on areas like experience design, product engineering, cloud adoption, data analytics, and digital platforms. Their core business model involves providing end-to-end solutions, from strategy and consulting to development, implementation, and maintenance, primarily to enterprises seeking to enhance their digital capabilities and build new digital products. They make money through project-based contracts, often structured as time & material or fixed-price engagements.
Revenue Mix
Infobeans primarily focuses on delivering services across various interconnected domains rather than distinct, separate segments. Their revenue streams are primarily derived from:
Digital Product Engineering: Core service involving designing, developing, and maintaining software products for clients.
Cloud Transformation Services: Assisting clients in migrating to and optimizing operations on cloud platforms (e.g., AWS, Azure, GCP).
Experience Design (UI/UX): Providing design-led engineering solutions to create intuitive and engaging user experiences.
Data & Analytics: Helping clients leverage data for insights and decision-making.
While specific percentage breakdowns by these service lines are not consistently provided as formal segments, digital product engineering and cloud services typically form the bulk of their offerings. Geographically, North America is often a significant revenue contributor, followed by other developed markets.
Industry
The company operates in the highly competitive Indian IT services sector, which is characterized by a mix of large global players (e.g., TCS, Infosys, Wipro), mid-sized firms, and niche specialists. Infobeans positions itself as a mid-sized, agile player focused on delivering high-value digital product engineering and cloud solutions. They typically target clients in specific industry verticals, often mid-market enterprises or divisions of larger corporations, seeking specialized expertise rather than generic IT outsourcing. Their differentiation comes from their focus on design-led engineering and niche digital competencies.
MOAT
Infobeans operates in an industry where strong, wide moats are challenging for mid-tier players. Their competitive advantages are more nuanced:
Niche Expertise: Specialization in digital product engineering, cloud, and design-led services provides a degree of differentiation in a commoditized market.
Client Relationships: Building long-term, sticky relationships with clients through consistent delivery and understanding of their specific business needs.
Talent Pool & Delivery Model: Access to a skilled talent pool in India combined with a flexible global delivery model.
However, these are relatively soft moats, as technology evolves rapidly, and competitors can replicate specific expertise over time.
Growth Drivers
Key factors that can drive Infobeans' growth over the next 3-5 years include:
Accelerated Digital Transformation: Continued global enterprise spending on digital initiatives, cloud adoption, and modernizing legacy systems.
Demand for Product Engineering: Growing trend of companies wanting to build their own digital products and platforms.
Geographic Expansion & New Client Acquisition: Expanding presence in existing markets and acquiring new logos, particularly in North America and Europe.
Cross-selling & Upselling: Deepening engagements with existing clients by offering a broader suite of services.
Strategic Acquisitions: Potential inorganic growth through targeted acquisitions to enhance capabilities or market access.
Risks
Intense Competition: Facing stiff competition from larger IT service providers and specialized niche firms, leading to pricing pressure.
Client Concentration Risk: Potential over-reliance on a few large clients, making revenue susceptible to changes in their spending or loss of contracts.
Talent Attrition & Cost: High demand for skilled IT professionals can lead to increased employee costs and challenges in talent retention.
Global Economic Slowdown: A downturn in major economies (e.g., US, Europe) can lead to reduced IT spending by clients.
Currency Fluctuations: Exposure to foreign exchange rate volatility, particularly against the USD, can impact profitability.
Technological Obsolescence: The need to continuously invest in new technologies and skill sets to remain relevant.
Management & Ownership
Infobeans Technologies Ltd. is promoter-led, with Mr. Govind Mundhra and Mr. Siddharth Sethi being the co-founders and key management personnel. They bring significant industry experience and vision to the company. The ownership structure typically involves a significant promoter holding, a common characteristic among many Indian mid-cap companies. The management team focuses on driving growth through technological innovation, client relationships, and operational efficiency.
Outlook
Infobeans is well-positioned to capitalize on the secular tailwinds of digital transformation and product engineering demand. The company's focus on niche, high-value services aligns with current market trends, offering potential for sustained growth. However, its outlook is balanced by intense competition from larger, more established players and a highly dynamic technology landscape that requires continuous investment in capabilities and talent. The ability to consistently acquire new clients, retain key talent, and expand its service offerings efficiently will be crucial for its continued success and scaling in the competitive global IT services market.
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| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 89 | 97 | 97 | 98 | 96 | 103 | 112 | 125 | 134 | 142 |
| Other Income | 5 | 3 | 3 | 4 | 3 | 4 | 12 | 4 | 4 | 5 |
| Total Income | 94 | 100 | 100 | 103 | 100 | 107 | 124 | 130 | 138 | 147 |
| Total Expenditure | 78 | 79 | 81 | 79 | 82 | 84 | 89 | 94 | 105 | 114 |
| Operating Profit | 16 | 21 | 19 | 23 | 18 | 23 | 36 | 36 | 33 | 33 |
| Interest | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 8 | 7 | 7 | 7 | 7 | 7 | 6 | 6 | 6 | 6 |
| Exceptional Income / Expenses | 0 | -1 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 7 | 12 | 11 | 16 | 10 | 15 | 29 | 29 | 27 | 27 |
| Provision for Tax | 1 | 3 | 4 | 3 | 3 | 5 | 6 | 6 | 8 | 6 |
| Profit After Tax | 6 | 9 | 8 | 13 | 7 | 11 | 23 | 23 | 19 | 21 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 6 | 9 | 8 | 13 | 7 | 11 | 23 | 23 | 19 | 21 |
| Adjusted Earnings Per Share | 0.6 | 1 | 0.8 | 1.3 | 0.7 | 1.1 | 2.4 | 2.3 | 2 | 2.2 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 43 | 74 | 83 | 95 | 116 | 157 | 180 | 271 | 385 | 369 | 395 | 513 |
| Other Income | 0 | 1 | 2 | 2 | 5 | 8 | 16 | 18 | 14 | 15 | 15 | 25 |
| Total Income | 43 | 74 | 85 | 97 | 120 | 165 | 196 | 289 | 399 | 384 | 409 | 539 |
| Total Expenditure | 34 | 57 | 69 | 76 | 96 | 128 | 141 | 206 | 314 | 317 | 326 | 402 |
| Operating Profit | 9 | 17 | 16 | 21 | 25 | 37 | 55 | 83 | 85 | 67 | 83 | 138 |
| Interest | 0 | 0 | 0 | 0 | 0 | 2 | 3 | 5 | 8 | 6 | 2 | 0 |
| Depreciation | 3 | 3 | 3 | 2 | 3 | 10 | 16 | 18 | 30 | 29 | 27 | 24 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | -1 | 0 | 0 | -1 | -1 | 0 |
| Profit Before Tax | 6 | 15 | 13 | 19 | 22 | 26 | 35 | 61 | 47 | 31 | 53 | 112 |
| Provision for Tax | 1 | 2 | -1 | 2 | 3 | 4 | -2 | 6 | 11 | 8 | 15 | 26 |
| Profit After Tax | 6 | 13 | 13 | 17 | 19 | 21 | 37 | 55 | 36 | 22 | 38 | 86 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 6 | 13 | 13 | 17 | 19 | 21 | 37 | 55 | 36 | 22 | 38 | 86 |
| Adjusted Earnings Per Share | 0.8 | 1.8 | 1.9 | 1.7 | 2 | 2.2 | 3.8 | 5.7 | 3.7 | 2.3 | 3.9 | 8.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 7% | 13% | 20% | 25% |
| Operating Profit CAGR | 24% | 0% | 18% | 25% |
| PAT CAGR | 73% | -12% | 13% | 20% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 70% | 14% | 16% | NA% |
| ROE Average | 12% | 12% | 17% | 20% |
| ROCE Average | 18% | 17% | 21% | 24% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 28 | 41 | 54 | 106 | 127 | 144 | 181 | 232 | 272 | 296 | 332 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 1 | -3 | 57 | 37 | 102 | 80 | 40 | 47 |
| Total Current Liabilities | 3 | 6 | 8 | 6 | 1 | 17 | 25 | 71 | 65 | 63 | 34 |
| Total Liabilities | 31 | 48 | 63 | 113 | 125 | 218 | 243 | 405 | 416 | 398 | 413 |
| Fixed Assets | 6 | 6 | 5 | 4 | 10 | 101 | 82 | 223 | 217 | 170 | 126 |
| Other Non-Current Assets | 10 | 10 | 20 | 46 | 45 | 53 | 70 | 42 | 4 | 7 | 22 |
| Total Current Assets | 16 | 31 | 38 | 64 | 69 | 64 | 91 | 139 | 196 | 222 | 265 |
| Total Assets | 31 | 48 | 63 | 113 | 125 | 218 | 243 | 405 | 416 | 398 | 413 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 2 | 5 | 10 | 16 | 4 | 10 | 11 | 23 | 41 | 33 | 37 |
| Cash Flow from Operating Activities | 5 | 8 | 9 | 9 | 20 | 60 | 36 | 81 | 77 | 44 | 50 |
| Cash Flow from Investing Activities | -2 | -3 | -7 | -29 | -12 | -47 | -20 | -48 | -73 | -25 | -27 |
| Cash Flow from Financing Activities | -1 | -0 | 4 | 33 | -1 | -12 | -4 | -15 | -14 | -15 | -13 |
| Net Cash Inflow / Outflow | 2 | 5 | 7 | 12 | 6 | 1 | 12 | 18 | -10 | 4 | 10 |
| Closing Cash & Cash Equivalent | 5 | 10 | 16 | 28 | 10 | 11 | 23 | 41 | 33 | 37 | 47 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.79 | 1.85 | 1.88 | 1.74 | 1.97 | 2.2 | 3.83 | 5.69 | 3.71 | 2.31 | 3.9 |
| CEPS(Rs) | 1.17 | 2.23 | 2.29 | 2 | 2.23 | 3.2 | 5.51 | 7.55 | 6.81 | 5.34 | 6.62 |
| DPS(Rs) | 0.02 | 0.01 | 0.04 | 0.13 | 0.25 | 0.25 | 0.75 | 0.25 | 0.25 | 0.25 | 0.25 |
| Book NAV/Share(Rs) | 3.99 | 5.85 | 7.68 | 11.07 | 13.15 | 14.99 | 18.53 | 23.77 | 27.65 | 29.73 | 33.62 |
| Core EBITDA Margin(%) | 20.44 | 22.88 | 16.88 | 20.23 | 17 | 18.34 | 21.67 | 24.22 | 18.44 | 13.95 | 17.32 |
| EBIT Margin(%) | 15.03 | 20.01 | 15.28 | 19.85 | 19.1 | 17.63 | 21.22 | 24.07 | 14.12 | 9.95 | 13.99 |
| Pre Tax Margin(%) | 14.85 | 19.9 | 15.11 | 19.75 | 19.07 | 16.38 | 19.44 | 22.38 | 12.1 | 8.39 | 13.38 |
| PAT Margin (%) | 13.02 | 17.68 | 15.95 | 17.54 | 16.36 | 13.52 | 20.42 | 20.26 | 9.33 | 6.1 | 9.62 |
| Cash Profit Margin (%) | 19.35 | 21.3 | 19.41 | 20.09 | 18.54 | 19.65 | 29.36 | 26.88 | 17.15 | 14.07 | 16.35 |
| ROA(%) | 19.19 | 33.11 | 24.08 | 18.98 | 15.86 | 12.35 | 15.97 | 16.97 | 8.76 | 5.51 | 9.36 |
| ROE(%) | 22.04 | 37.56 | 27.79 | 20.83 | 16.24 | 15.66 | 22.87 | 26.97 | 14.44 | 8.07 | 12.31 |
| ROCE(%) | 24.87 | 42.39 | 25.48 | 22.95 | 18.91 | 20.35 | 23.11 | 31.24 | 21.62 | 12.93 | 17.59 |
| Receivable days | 64.58 | 64.26 | 65.84 | 65.77 | 67.43 | 64.37 | 74.04 | 71.98 | 62.42 | 69.55 | 75.19 |
| Inventory Days | 0 | 0 | 17.93 | 14.28 | 6.33 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 0 | -83.68 | 311.1 | 55.67 | 263.44 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 10.58 | 8.9 | 7.52 | 9.43 | 31.93 | 30.36 | 39.62 | 18.76 |
| Price/Book(x) | 0 | 0 | 0 | 1.66 | 1.33 | 1.11 | 1.95 | 7.64 | 4.07 | 3.08 | 2.17 |
| Dividend Yield(%) | 0 | 0 | 0 | 0.68 | 1.43 | 1.51 | 2.08 | 0.14 | 0.22 | 0.27 | 0.34 |
| EV/Net Sales(x) | 0.01 | -0.06 | 0.07 | 1.56 | 1.16 | 0.92 | 1.76 | 6.24 | 2.72 | 2.31 | 1.69 |
| EV/Core EBITDA(x) | 0.07 | -0.25 | 0.36 | 6.97 | 5.46 | 3.86 | 5.76 | 20.33 | 12.38 | 12.8 | 8.01 |
| Net Sales Growth(%) | 12.26 | 73.18 | 12.86 | 14.48 | 21.07 | 35.55 | 15.17 | 50.5 | 41.97 | -4.36 | 7.13 |
| EBIT Growth(%) | -13.93 | 130.53 | -13.83 | 48.77 | 16.48 | 25.09 | 38.66 | 70.73 | -16.71 | -32.62 | 50.64 |
| PAT Growth(%) | -20.83 | 135.14 | 1.78 | 25.89 | 12.92 | 12.04 | 73.97 | 49.28 | -34.59 | -37.51 | 68.98 |
| EPS Growth(%) | -23.18 | 135.14 | 1.78 | -7.36 | 12.92 | 12.02 | 73.97 | 48.35 | -34.81 | -37.64 | 68.5 |
| Debt/Equity(x) | 0 | 0 | 0.08 | 0 | 0 | 0 | 0.03 | 0 | 0 | 0 | 0 |
| Current Ratio(x) | 5.58 | 5.15 | 4.68 | 10.2 | 46.96 | 3.8 | 3.62 | 1.97 | 3.01 | 3.55 | 7.73 |
| Quick Ratio(x) | 5.67 | 5.15 | 4.18 | 9.65 | 46.53 | 3.8 | 3.62 | 1.97 | 3.01 | 3.55 | 7.73 |
| Interest Cover(x) | 80.93 | 177.39 | 88.56 | 197.57 | 659.64 | 14.15 | 11.89 | 14.17 | 6.97 | 6.37 | 22.83 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0.02 | 0 | 0 | 0 | 0 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.18 | 74.18 | 73.98 | 73.98 | 73.98 | 74.04 | 74.44 | 74.4 | 74.4 | 72.83 |
| FII | 0.09 | 0.29 | 0.29 | 0.31 | 0.54 | 0.56 | 0.46 | 0.55 | 0.55 | 0.45 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 | 0.36 | 0.96 | 0.2 |
| Public | 25.72 | 25.52 | 25.71 | 25.7 | 25.48 | 25.4 | 25.11 | 24.69 | 24.09 | 26.51 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 7.06 |
| FII | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.04 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.02 | 0.02 |
| Public | 0.62 | 0.62 | 0.63 | 0.63 | 0.62 | 0.62 | 0.61 | 0.6 | 0.58 | 2.57 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.43 | 2.43 | 2.44 | 2.44 | 2.44 | 2.44 | 2.42 | 2.42 | 2.42 | 9.7 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +7% | +13% | +20% | +25% |
| Operating Profit CAGR | +24% | 0% | +18% | +25% |
| PAT CAGR | +73% | -12% | +13% | +20% |
| Share Price CAGR | +70% | +14% | +16% | — |
| ROE Average | +12% | +12% | +17% | +20% |
| ROCE Average | +18% | +17% | +21% | +24% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.18 | 74.18 | 73.98 | 73.98 | 73.98 | 74.04 | 74.44 | 74.4 | 74.4 | 72.83 |
| FII | 0.09 | 0.29 | 0.29 | 0.31 | 0.54 | 0.56 | 0.46 | 0.55 | 0.55 | 0.45 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 | 0.36 | 0.96 | 0.2 |
| Public | 25.82 | 25.82 | 26.02 | 26.02 | 26.02 | 25.96 | 25.56 | 25.6 | 25.6 | 27.17 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 7.06 |
| FII | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.04 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.02 | 0.02 |
| Public | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.62 | 0.62 | 0.62 | 2.63 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.43 | 2.43 | 2.44 | 2.44 | 2.44 | 2.44 | 2.42 | 2.42 | 2.42 | 9.7 |
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