Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹149 Cr.
Stock P/E
12
P/B
2.8
Current Price
₹154
Book Value
₹ 55.6
Face Value
10
52W High
₹483.8
52W Low
₹ 145
Dividend Yield
0%

Infollion Research Overview

Business

Infollion Research Services Ltd. is an India-based business research and intelligence provider. The company assists a diverse client base, including consulting firms, private equity funds, investment banks, and corporations, with critical market insights and data for strategic decision-making. Their core business model involves offering bespoke research projects and providing access to proprietary data platforms. They make money primarily through service fees for custom research and subscription revenues from their data and insights products, which leverage technology and an expert network to deliver actionable intelligence.

Revenue Mix

Infollion's revenue is primarily derived from two broad segments:

Custom Research & Consulting Services: Tailored research projects, market studies, competitive analysis, due diligence, and go-to-market strategies.

Data & Insights Products: Subscription-based access to their proprietary databases and intelligence platforms, which may cover areas like private company information and M&A trends.

(Specific numerical breakdown of revenue contribution by segment is not consistently and publicly available post-IPO, but both streams contribute to the overall revenue.)

Industry

Infollion operates within the broader Business Support sector, specifically in the Market Research, Business Intelligence, and Consulting industry. This industry is highly fragmented globally, with a mix of large international players, mid-sized regional firms, and niche specialists. Infollion positions itself as a provider of actionable, data-driven insights, combining human expertise with technology (including AI/ML) to serve its clients. Given its relatively recent public listing and scale compared to global giants, it likely targets specific niches within the Indian and potentially international markets, focusing on speed and relevance of insights.

MOAT

Infollion's competitive advantages are likely to stem from:

Proprietary Data & Expert Network: Access to unique or difficult-to-obtain data (e.g., on unlisted companies, specific market niches) and a robust network of industry experts provides a distinct edge.

Technology Integration: Leveraging AI/ML and data analytics within their platforms can enhance efficiency, accuracy, and scalability of research delivery.

Niche Specialization: Focused expertise in certain sectors or types of research (e.g., due diligence for private equity) can create sticky client relationships.

Switching Costs: While moderate for one-off projects, clients deeply integrating Infollion's subscription data into their workflows could face higher switching costs.

Growth Drivers

Increasing Demand for Data-Driven Decisions: Growing complexity of business environments drives a continuous need for market intelligence across industries.

Growth of Indian Economy & Corporate Sector: Expansion of Indian businesses and increased interest from global firms in the Indian market will fuel demand for localized insights.

Digital Transformation: Greater adoption of digital technologies and AI/ML allows for more efficient data collection, analysis, and product development.

Expansion of Client Base & Geographies: Penetrating new industry verticals, client segments, and international markets.

Product Innovation: Development of new data products, enhanced analytical tools, and expansion of their expert network.

Risks

Intense Competition: The market research and consulting industry is highly competitive, with numerous global and local players vying for clients.

Talent Retention: The business is heavily reliant on attracting and retaining skilled researchers, data analysts, and industry experts.

Economic Downturn: Corporate spending on discretionary research and consulting services can be vulnerable to economic slowdowns.

Data Security & Privacy: Handling sensitive business and market data necessitates robust security protocols; breaches could lead to reputational damage and regulatory penalties.

Technological Obsolescence: Continuous investment in technology and adaptation to new research methodologies (e.g., advanced AI, alternative data) is crucial to remain competitive.

Client Concentration: Significant reliance on a few large clients could pose a risk if those relationships are terminated or reduced.

Management & Ownership

The company is promoted by Mr. Vishal Agarwal (Managing Director) and Ms. Preeti Goyal Agarwal (Whole-time Director), who are also the founders. Mr. Umang Das serves as the Chairman & Independent Director. Mr. Vishal Agarwal has significant experience in the research and consulting domain. Post-IPO, the promoter holding generally remains substantial (often above 50-60% for SME IPOs), providing stable control and alignment with the company's long-term vision, with the remaining shares held by public investors including retail, HNIs, and potentially institutional buyers.

Outlook

Infollion Research Services Ltd. is positioned to capitalize on the growing global demand for actionable business intelligence and market insights, particularly within the dynamic Indian market. Its focus on proprietary data, technology integration (AI/ML), and an expert network offers avenues for sustained growth by expanding its product offerings and client base. However, the company operates in a highly competitive and talent-intensive industry. Managing talent acquisition and retention, continuously innovating its technology and data sources, and navigating potential economic downturns that could impact discretionary client spending will be crucial for its long-term success. The ability to scale its operations efficiently while maintaining data quality and client satisfaction will be key determinants of its growth trajectory.

Infollion Research Share Price

Live · NSE · Inception: 2009
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Infollion Research Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Infollion Research Profit & Loss

#(Fig in Cr.) Mar 2024 Mar 2025 TTM
Net Sales 52 77
Other Income 2 2
Total Income 53 80
Total Expenditure 42 63
Operating Profit 12 17
Interest 0 0
Depreciation 0 0
Exceptional Income / Expenses 0 0
Profit Before Tax 12 16
Provision for Tax 3 4
Profit After Tax 9 12
Adjustments 0 0
Profit After Adjustments 9 12
Adjusted Earnings Per Share 8.8 12.8

Infollion Research Balance Sheet

#(Fig in Cr.) Mar 2024 Mar 2025
Shareholder's Funds 41 54
Minority's Interest 0 0
Borrowings 0 0
Other Non-Current Liabilities 0 1
Total Current Liabilities 5 6
Total Liabilities 47 61
Fixed Assets 0 0
Other Non-Current Assets 1 2
Total Current Assets 46 59
Total Assets 47 61

Infollion Research Cash Flow

#(Fig in Cr.) Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 6 31
Cash Flow from Operating Activities 9 6
Cash Flow from Investing Activities -1 -2
Cash Flow from Financing Activities 17 0
Net Cash Inflow / Outflow 25 4
Closing Cash & Cash Equivalent 31 35

Infollion Research Ratios

# Mar 2024 Mar 2025
Earnings Per Share (Rs) 8.84 12.83
CEPS(Rs) 8.85 12.85
DPS(Rs) 0 0
Book NAV/Share(Rs) 42.65 55.61
Core EBITDA Margin(%) 19.68 18.96
EBIT Margin(%) 22.7 21.8
Pre Tax Margin(%) 22.35 21.3
PAT Margin (%) 16.56 16.09
Cash Profit Margin (%) 16.57 16.12
ROA(%) 18.31 23.03
ROE(%) 20.73 26.12
ROCE(%) 28.38 35.31
Receivable days 77.75 67.53
Inventory Days 0 0
Payable days 0 0
PER(x) 21.65 35.88
Price/Book(x) 4.49 8.28
Dividend Yield(%) 0 0
EV/Net Sales(x) 2.98 5.32
EV/Core EBITDA(x) 13.14 24.36
Net Sales Growth(%) 0 49.38
EBIT Growth(%) 0 43.48
PAT Growth(%) 0 45.21
EPS Growth(%) 0 45.12
Debt/Equity(x) 0 0
Current Ratio(x) 9.07 9.12
Quick Ratio(x) 9.07 9.12
Interest Cover(x) 65.91 43.42
Total Debt/Mcap(x) 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +48% — — —
Operating Profit CAGR +42% — — —
PAT CAGR +33% — — —
Share Price CAGR -65% -5% — —
ROE Average +26% +23% +23% +23%
ROCE Average +35% +32% +32% +32%

Infollion Research Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 51.65 %
FII 1.03 %
DII (MF + Insurance) 9.77 %
Public (retail) 37.54 %
Others 0.01 %
# Sep 2023 Mar 2024 Sep 2024 Mar 2025 Sep 2025 Mar 2026
Promoter 51.7151.7351.7351.7151.751.65
FII 2.5301.041.051.041.03
DII 0.033.365.947.519.439.77
Public 45.7344.9141.2939.7437.8337.54
Others 000000
Total 100100100100100100

Infollion Research Peer Comparison

Business Support Edit Columns

Infollion Research Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Infollion Research Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 23%
  • Company is almost debt free.

Cons

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