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10 Yrs X-Ray 
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About
IKIO Technologies Ltd (IKIO)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543923 NSE: IKIO Electronics - Components | Small Cap | IKIO Technologies Share Price
₹224.45 -6.85 (-2.96%)
As on 11-Sep'26 16:59
IKIO Technologies Ltd (IKIO)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543923 NSE: IKIO Electronics - Components | Small Cap | IKIO Technologies Share Price
₹224.45 -6.85 (-2.96%)
As on 11-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹1,735 Cr.
Current Price
₹224.5
52-Week Low / High
₹104 / 239
TTM EPS
₹6
TTM Sales
₹644 Cr.
Book Value per Share
₹78.3
P/E Ratio
37.30
Lower than its 5-year historical median
Industry PE
49.4
Price to Book (P/B)
2.87
Lower than its 5-year historical median
Price to Sales (P/S)
2.69
Lower than its 5-year historical median
EV/EBITDA
16.38
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
7.22%
Underperforms industry median
Return on Capital Employed (ROCE)
10.02%
In line with industry median
Return on Assets (ROA)
5.88%
Operating Profit Margin
13.1%
Net Profit Margin
6.98%
Gross Profit Margin
14.1%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-18.25%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
29.64%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
28.19%
Asset Quality
Promoter Holding
72.55%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹528 Cr.
Equity
₹77.3 Cr.
Face Value
₹10
All Time Low / High
₹104.10 / 477.15
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat OvervaluedCheck Valuation charts
Price Trend
Strong
Is IKIO Technologies Ltd a good quality company?
IKIO Technologies Ltd is a average quality company, based on a somewhat consistent 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 IKIO Technologies Ltd performance compare with that of its Peers?
Revenue growth of IKIO Technologies Ltd vs industry peers?
IKIO Technologies Ltd revenue CAGR is 22.77%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of IKIO Technologies Ltd?
Promoters hold 72.55% of the IKIO Technologies Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of IKIO Technologies Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of -14.79% 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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
IKIO Technologies Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 68.2% | 63.6% | 52.9% | 35.5% | 14.6% | 7.1% | 4.6% | - |
| Value Creation Index ⓘ | 3.9 | 3.5 | 2.8 | 1.5 | 0.0 | -0.5 | -0.7 | - |
Growth Parameters ⓘ |
||||||||
| Sales ⓘ | 141 | 160 | 220 | 241 | 241 | 208 | 170 | 176 |
| Sales YoY Gr. | - | 13.5% | 37.7% | 9.8% | -0.2% | -13.8% | -18.3% | - |
| Adj EPS ⓘ | 2.5 | 3.2 | 4.2 | 3.8 | 3.7 | 3.1 | 1.9 | 2.1 |
| YoY Gr. | - | 28.6% | 34.3% | -10.9% | -2.1% | -17.3% | -38% | - |
| BVPS (₹) ⓘ | 4.3 | 7.4 | 11.8 | 15.6 | 62.1 | 61.5 | 63.5 | 64.1 |
| Adj Net Profit ⓘ | 16 | 20.5 | 27.5 | 24.5 | 28.5 | 23.6 | 14.6 | 16 |
| Cash Flow from Ops. ⓘ | 13.2 | -0.1 | -5.3 | 53.1 | -7 | 18.8 | 19 | - |
| Debt/CF from Ops. ⓘ | 0.6 | -101.2 | -3 | 0.5 | -1.4 | 0.2 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 1.2% | -11.1% | -18.3% | ||||
| Adj EPS ⓘ | NA | -9.7% | -20.6% | -38% | ||||
| BVPSⓘ | NA | 53.6% | 59.8% | 3.2% | ||||
| Share Price | - | - | -14.8% | -0% | ||||
Key Financial Parameters ⓘ
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 57.7 | 53.9 | 44.1 | 27.6 | 9.8 | 4.9 | 3 | 3.3 |
| Op. Profit Mgn % ⓘ | 18.7 | 19.1 | 18.3 | 16.1 | 11.9 | 8.5 | 6.3 | 7.3 |
| Net Profit Mgn % ⓘ | 11.3 | 12.8 | 12.5 | 10.2 | 11.8 | 11.4 | 8.6 | 9.1 |
| Debt to Equity ⓘ | 0.3 | 0.1 | 0.2 | 0.2 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 0 | 100 | 126 | 161 | 225 | 304 | 380 | 127 |
| Cash Conv. Cycle ⓘ | 0 | 34 | 75 | 79 | 71 | 89 | 88 | 110 |
Valuation of IKIO Technologies - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|
| Sales | 220 | 213 | 332 | 359 | 438 | 486 | 595 |
| Operating Expenses ⓘ + | 183 | 166 | 254 | 281 | 345 | 426 | 517 |
| Operating Profit ⓘ | 38 | 48 | 77 | 78 | 93 | 60 | 78 |
| Operating Profit Margin (%) | 17.1% | 22.4% | 23.3% | 21.6% | 21.2% | 12.4% | 13.1% |
| Other Income ⓘ + | 2 | 1 | 2 | 3 | 15 | 15 | 15 |
| Interest ⓘ | 5 | 4 | 5 | 9 | 12 | 8 | 9 |
| Depreciation ⓘ | 4 | 5 | 5 | 6 | 12 | 24 | 31 |
| Profit Before Tax ⓘ | 30 | 40 | 69 | 66 | 85 | 42 | 53 |
| Tax ⓘ | 9 | 11 | 19 | 16 | 24 | 10 | 11 |
| Profit After Tax | 21 | 29 | 51 | 50 | 61 | 32 | 42 |
| PAT Margin (%) | 9.7% | 13.5% | 15.2% | 14.0% | 13.8% | 6.7% | 7.0% |
| Adjusted EPS (₹) | 3.3 | 4.4 | 7.8 | 7.7 | 7.8 | 4.0 | 4.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 12.80% | 0% | 0% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 36 | 63 | 109 | 142 | 553 | 556 | 594 | ||||
| Debt + | 40 | 67 | 101 | 98 | 44 | 23 | 40 | ||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 2 | 7 | ||||
| Trade Payables | 32 | 23 | 23 | 24 | 21 | 34 | 45 | ||||
| Others Liabilities ⓘ | 36 | 20 | 30 | 45 | 37 | 50 | 62 | ||||
| Total Liabilities ⓘ | 144 | 173 | 263 | 310 | 655 | 664 | 749 | ||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 54 | 59 | 60 | 65 | 106 | 200 | 199 | ||||
| CWIP ⓘ | 1 | 4 | 9 | 27 | 72 | 48 | 101 | ||||
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Inventories | 37 | 58 | 110 | 121 | 135 | 139 | 201 | ||||
| Trade Receivables | 30 | 33 | 56 | 73 | 97 | 113 | 133 | ||||
| Cash Equivalents | 8 | 4 | 3 | 3 | 191 | 110 | 58 | ||||
| Others Assets ⓘ | 14 | 16 | 25 | 21 | 55 | 54 | 57 | ||||
| Total Assets ⓘ | 144 | 173 | 263 | 310 | 655 | 664 | 749 | ||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 23 | -9 | -15 | 57 | -5 | 35 | 16 |
| Cash Flow From Investing Activity ⓘ + | 3 | -6 | -9 | -50 | -249 | -4 | -13 |
| Cash Flow From Financing Activity ⓘ + | -21 | 10 | 24 | -8 | 266 | -33 | 6 |
| Net Cash Flow ⓘ | 5 | -4 | -1 | -1 | 12 | -2 | 10 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 59.63 | 58.34 | 58.83 | 39.87 | 17.43 | 5.85 | 7.22 | |||
| ROCE (%) | 42.42 | 41.25 | 42.85 | 31.74 | 22.51 | 8.61 | 10.02 | |||
| Asset Turnover Ratio | 1.53 | 1.35 | 1.52 | 1.25 | 0.91 | 0.74 | 0.84 | |||
| PAT to CFO Conversion(x) | 1.1 | -0.31 | -0.29 | 1.14 | -0.08 | 1.09 | 0.38 | |||
| Working Capital Days | ||||||||||
| Receivable Days | 49.40 | 53.50 | 48.80 | 65.40 | 70.70 | 78.90 | 75.50 | |||
| Inventory Days | 61.60 | 81.30 | 92.20 | 117.20 | 106.60 | 102.90 | 104.20 | |||
| Payable Days | 85.10 | 84.20 | 44 | 37.50 | 32.10 | 36 | 40.60 | |||
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IKIO Technologies Ltd FAQs
The current trading price of IKIO Technologies on 11-Sep-2026 16:59 is ₹224.4.
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 10-Sep-2026 the market cap of IKIO Technologies stood at ₹1,734.6 Cr
The latest P/E ratio of IKIO Technologies as of 10-Sep-2026 is 108.4.
The latest P/B ratio of IKIO Technologies as of 10-Sep-2026 is 3.50.
The 52-week high of IKIO Technologies is ₹238.8 and the 52-week low is ₹104.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of IKIO Technologies is ₹176 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that IKIO Technologies Ltd is a average quality company.
The key valuation ratios of IKIO Technologies 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 IKIO Technologies Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
About IKIO Technologies Ltd
The company was incorporated as ‘IKIO Lighting Private Limited’ under the Companies Act, 2013, pursuant to the certificate of incorporation issued by the RoC on March 21, 2016. The name of the cmpany was subsequently changed to ‘IKIO Lighting Limited’, upon conversion into a public company, pursuant to a board resolution dated January 3, 2022 and a shareholder’s resolution dated January 31, 2022, and a fresh certificate of change of name was issued on April 18, 2022 by the RoC.
It is an Indian manufacturer of light emitting diode (LED) lighting solutions. It is focused on sustainability and providing low energy LED products to help India meet its sustainability goals. It is primarily an original design manufacturer (ODM) and design, develop, manufacture and supply products to customers who then further distribute these products under their own brands. It also works with its customers to develop, manufacture and supply products that are designed by its customers. It’s LED lighting offerings focus on the premium segment and include lighting, fittings, fixtures, accessories and components. Its provide lighting solutions (lights, drivers and controls) to commercial refrigeration equipment suppliers under its refrigeration light segment. It also manufacture an alternative to polyvinyl chloride (PVC) piping called ABS piping that is primarily used by its US customers for plumbing applications in the recreational vehicles (RVs) that they fit out. In addition, its manufacture and assemble other products including fan regulators that are designed by its clients; light strips, moulding, and other components and spares. Its equipment and systems are used in various industries and products, including residential, industrial and commercial lighting.
It has four manufacturing facilities with one located in the SIDCUL Haridwar industrial park in Uttarakhand and three in Noida in the National Capital Region. In line with its focus to provide end-to-end product solutions and to develop better control on its supply chain and improve its margins, it has backward integrated its major manufacturing processes. It has developed in-house capabilities so that it manufacture all mechanical components in house (save diodes and resistors).
Business area of the company
The company is an Indian manufacturer of light emitting diode (LED) lighting solutions. It is focused on sustainability and providing low energy LED products to help India meet its sustainability goals.
Products of the company
- Rechargeable bulbs
- Spotlights
- LED strip lights
- Decorative lights
- Rechargeable lantern
- LED driver
- Down lighter lights
- Linear lights
- Track lights
- RV lights
- ABS piping
- Refrigerator lights
- Fan regulators and switches
- LED spare parts & others
History and milestones
- 2016: The company was incorporated as a as ‘IKIO Lighting Private Limited’ under the Companies Act, 2013.
- 2016: Commenced business of manufacturing of Refrigerator Light.
- 2019: Commenced new business in Noida Special Economic Zone area to carry out 100% export activity.
- 2022: Conversion of the company into a public limited company.
- 2022: Acquired 100% equity shares of IKIO Solutions Private Limited and Fine Technologies (India) Private Limited.
- 2022: Received Quality Innovation Award-2022 from The Institute of Engineers (India)-Uttarakhand State Centre Safety & Quality Forum Disaster Awareness & Management forum.
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