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Indiabulls Ltd (IBULLSLTD)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533520 NSE: IBULLSLTD e-Commerce | Small Cap | Indiabulls Share Price

₹23.71 -0.56 (-2.31%)

As on 04-Jun'26 16:59

Indiabulls Ltd (IBULLSLTD)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533520 NSE: IBULLSLTD e-Commerce | Small Cap | Indiabulls Share Price

₹23.71 -0.56 (-2.31%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹5,511 Cr.
Current Price
₹23.7
52-Week Low / High
₹9 / 24
TTM EPS
₹1.2
TTM Sales
₹534 Cr.
Book Value per Share
₹13.3
P/E Ratio
20.12
Industry PE
15.8
Price to Book (P/B)
1.78
Higher than its 5-year historical median
Price to Sales (P/S)
10.32
Higher than its 5-year historical median
EV/EBITDA
16.04
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
0.00%
Underperforms industry median
Return on Capital Employed (ROCE)
0.00%
Underperforms industry median
Return on Assets (ROA)
-196.68%
Operating Profit Margin
0%
Net Profit Margin
-%
Gross Profit Margin
0%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Steady versus 3-year growth rate
-100%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
32.89%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹2,637 Cr.
Equity
₹464.9 Cr.
Face Value
₹2
All Time Low / High
₹3.05 / 785.00

Indiabulls stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Overvalued

Price Trend

Strong
Q.1 Is Indiabulls Ltd a good quality company?
Indiabulls Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Indiabulls Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Indiabulls Ltd vs industry peers?
Indiabulls Ltd revenue CAGR is -100.00%, compared to the industry median CAGR of 0.00%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Indiabulls Ltd?
Promoters hold 32.89% of the Indiabulls Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Indiabulls Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -3.5% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Indiabulls Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 4.1%2%5.1%10.3%-8.5%4.6%-15.9%174.6%-401.9%0%-
Value Creation
Index
-0.7-0.9-0.6-0.3-1.6-0.7NA11.5NANA-

Growth Parameters

Sales 3102232331712251681.30.100534
Sales YoY Gr.--27.9%4.2%-26.6%31.9%-25.3%-99.3%-91.3%-81.8%-100%-
Adj EPS 1.6-4.2-1.78-21.4-12.4-14.79.7-2.2-6.91.2
YoY Gr.--356.2%NANA-367.3%NANANA-122.4%NA-
BVPS (₹) 174.863.169.5155.434.547-29.8-22.6-23.7-2813.3
Adj Net
Profit
8.2-21.1-9.571.5-191-108-14595.5-21.4-68.2274
Cash Flow from Ops. 168-529-76.4-175-218841-487-11.3-11.95.2-
Debt/CF from Ops. 2.7-1.3-8.8-2-5.20.4-1-19-20.450.9-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -100%-100%-100%-100%
Adj EPS -217.5%NANANA
BVPS-181.6%-195.9%NANA
Share Price -0.3% -28.2% 23.5% 48%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
0.9-3.5-2.47.5-21.9-30.1-246.9-379.426.7-16.1
Op. Profit
Mgn %
27.813.821.8-1.2-24.65.3-7349.6-10309.1-22850058.1
Net Profit
Mgn %
2.7-5.7-2.244.7-83.7-60.2-11429.586850.9-106860051.4
Debt to
Equity
0.52.21.80.33.70.8-1.7-1-1-10
Working Cap
Days
9591,3247751,2041,1611,6791,45,4324,19,4022,59,4240556
Cash Conv.
Cycle
4-08719712214015,6721,7581,0730332

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales3102232331712251681000
Operating Expenses + 225193182173453168961258
Manufacturing Costs56626642141143300
Material Costs147143252450000
Employee Cost 22244248674223431
Other Costs 1339960513207130627
Operating Profit 853151-2-2270-94-12-5-8
Operating Profit Margin (%) 27.3%13.7%21.8%-1.2%-100.0%0.1%-7,433.9%-11,209.1%-24,550.0%-
Other Income + 32032179123792118631
Exceptional Items 0000000000
Interest 4536434213012557871960
Depreciation 3627282632292100
Profit Before Tax 6-1312108-267-75-13285-22-68
Tax -10530261314-1000
Profit After Tax 7-13878-293-88-14695-22-68
PAT Margin (%) 2.3%-5.7%3.4%45.7%-130.0%-52.0%-11,478.0%86,227.3%-1,08,050.0%-
Adjusted EPS (₹)1.3-4.20.67.6-33.1-10.8-14.89.6-2.2-6.9
Dividend Payout Ratio (%)0%0%159.50%13.20%0%0%0%0%0%0%

Valuation of Indiabulls - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 8893203811,389308412-294-223-234-276
Share Capital 13101118181820202020
Reserves 8773103701,371290394-314-243-254-296
Debt +417671414316864307500214244263
Long Term Debt31729917289266850021424025
Short Term Debt10037239727838240003238
Minority Interest0-508085920000
Trade Payables47281921323739313128
Others Liabilities 701135405157395776481559
Total Liabilities 2,0551,1491,2191,9631,6841,625294384624

Fixed Assets

Net Fixed Assets +9376045024203552356100
Gross Block1,11170460254050437710300
Accumulated Depreciation1751001011201501434200
CWIP 0000010000
Investments 002228745415894822313
Inventories2016182128261000
Trade Receivables58471018781831000
Cash Equivalents flag 16262611112710019
Others Assets 1,02445635155066766523714142
Total Assets 2,0551,1491,2191,9631,6841,625294384624

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 168-529-76-175-218841-487-11-125
PBT 6-1312108-267-75-13285-22-68
Adjustment 814151-107675443-911960
Changes in Working Capital 98-553-141-167-20838-393-6015
Tax Paid -17-31-9-28-1-51-10-2
Cash Flow From Investing Activity + -271571-19-549-499179328223054
Capex -267-991-706109-3000
Net Investments -52-211-522-4741625290054
Others 157710043-31-92-19922200
Cash Flow From Financing Activity + 107-3097709717-1,004157-21212-41
Net Proceeds from Shares 000912000000
Net Proceeds from Borrowing 00000-590204-21210-35
Interest Paid -36-34-31-31-65-185-46-0-1-3
Dividend Paid 00-0-5000000
Others 1435129-166782-230-0-03-3
Net Cash Flow 4132-14-116-2-1-019

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)0.8-2.122.248.83-34.55-24.35N/AN/AN/AN/A
ROCE (%)4.081.955.0910.28-8.534.59N/AN/AN/AN/A
Asset Turnover Ratio0.190.140.20.110.120.10000
PAT to CFO Conversion(x)24N/A-9.5-2.24N/AN/AN/A-0.12N/AN/A
Working Capital Days
Receivable Days78.9085.40116200.40135.70177.7001,742.1000
Inventory Days21.403026.9041.9040.4058.503,813.80000
Payable Days950.501,890.10598.20230.30185.60283.600000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Indiabulls Ltd FAQs

The current trading price of Indiabulls on 04-Jun-2026 16:59 is ₹23.71.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Indiabulls stood at ₹5,511.1 Cr

The latest P/E ratio of Indiabulls as of 03-Jun-2026 is 0.00.

The latest P/B ratio of Indiabulls as of 03-Jun-2026 is 0.87.

The 52-week high of Indiabulls is ₹24.27 and the 52-week low is ₹8.93.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Indiabulls is ₹17.70 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Indiabulls Ltd is a below average quality company.

The key valuation ratios of Indiabulls Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Indiabulls Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Indiabulls Ltd

Indiabulls (formerly known as Yaari Digital Integrated Services) operates across Real Estate and Financial Services, with a focus on creating sustainable long-term value through disciplined capital allocation, transparent governance, and strong execution. In Real Estate, the company develops residential, commercial, and mixed-use projects with an emphasis on quality, timely delivery, and customer experience. In Financial Services, Indiabulls operates a stock broking business, along with digital lending, payments, wallet infrastructure, and an ARC business, within regulated frameworks and compliant processes.

Indiabulls follows a long-term development approach - prioritising value creation for stakeholders through disciplined project execution in real estate, supported by prudent expansion of its financial services offerings. The company remains focused on sustainable growth, operational discipline, and contributing meaningfully to India’s economic progress.

Consequent to the Scheme of Arrangement coming into effect on October 14, 2025, Dhani Services and Indiabulls Enterprises, along with the other participating companies, were merged into Yaari Digital Integrated Services. The company received fresh Certificate of Incorporation dated October 17, 2025, issued by the Registrar of Companies, Central Processing Centre, Manesar (ROC). The name of the company stands changed from ‘Yaari Digital Integrated Services’ to ‘Indiabulls’ with effect from October 17, 2025.

Business area of the company

The company operates across Real Estate and Financial Services, with a focus on creating sustainable long-term value through disciplined capital allocation, transparent governance, and strong execution.

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