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Workmates Core2Cloud Solution Ltd (544610)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544610 NSE: IT - Software | Small Cap | Workmates Core2Cloud Share Price

₹309 -10.20 (-3.20%)

As on 04-Jun'26 16:59

Workmates Core2Cloud Solution Ltd (544610)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544610 NSE: IT - Software | Small Cap | Workmates Core2Cloud Share Price

₹309 -10.20 (-3.20%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹399 Cr.
Current Price
₹309
52-Week Low / High
₹264 / 514
TTM EPS
₹12.7
TTM Sales
₹144 Cr.
Book Value per Share
₹71.6
P/E Ratio
24.37
Lower than its 5-year historical median
Industry PE
22.2
Price to Book (P/B)
4.32
Price to Sales (P/S)
2.78
Lower than its 5-year historical median
EV/EBITDA
16.55
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
87.11%
Outperforms industry median
Return on Capital Employed (ROCE)
91.69%
Outperforms industry median
Return on Assets (ROA)
35.13%
Operating Profit Margin
17.6%
Net Profit Margin
13.43%
Gross Profit Margin
18.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
96.67%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
147.38%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
160.85%
Asset Quality
Promoter Holding
72.03%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹80 Cr.
Equity
₹12.9 Cr.
Face Value
₹10
All Time Low / High
₹264.00 / 514.00

Workmates Core2Cloud Solution stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Undervalued

Price Trend

Weak
Q.1 Is Workmates Core2Cloud Solution Ltd a good quality company?
Workmates Core2Cloud Solution 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 Workmates Core2Cloud Solution Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Workmates Core2Cloud Solution Ltd vs industry peers?
Workmates Core2Cloud Solution Ltd revenue CAGR is 101.48%, compared to the industry median CAGR of 9.84%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Workmates Core2Cloud Solution Ltd?
Promoters hold 72.03% of the Workmates Core2Cloud Solution Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Workmates Core2Cloud Solution Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% 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.
Workmates Core2Cloud Solution 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'22Mar'23Mar'24Mar'25TTM
ROCE % 96.8%98.1%117.3%91.7%-
Value Creation
Index
5.96.07.45.6-

Growth Parameters

Sales 12.82953.2105144
Sales YoY Gr.-126.2%83.9%96.7%-
Adj EPS 1.325.414.112.7
YoY Gr.-54.8%176.4%160.9%-
BVPS (₹) 1.83.79.123.271.6
Adj Net
Profit
1.325.414.116
Cash Flow from Ops. 02.49.83.1-
Debt/CF from Ops. 0002.9-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NANA101.5%96.7%
Adj EPS NANA123.5%160.9%
BVPSNANA136.1%154.4%
Share Price - - - -

Key Financial Parameters

Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
71.671.484.187.226.8
Op. Profit
Mgn %
13.79.21417.6NAN
Net Profit
Mgn %
9.96.810.113.511.4
Debt to
Equity
0000.4-
Working Cap
Days
05550700
Cash Conv.
Cycle
0-257-351-4810

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Sales132953105
Operating Expenses > + 11264686
Manufacturing Costs0000
Material Costs0000
Employee Cost 24610
Other Costs > 9233976
Operating Profit > 23718
Operating Profit Margin (%) 13.7%9.2%14.0%17.6%
Other Income > + 0001
Exceptional Items > 0000
Interest > 0000
Depreciation > 0000
Profit Before Tax > 23819
Tax > 0125
Profit After Tax 12514
PAT Margin (%) 9.9%6.8%10.1%13.4%
Adjusted EPS (₹)1.32.05.414.1
Dividend Payout Ratio (%)0%0%0%0%

Valuation of Workmates Core2Cloud - Standalone

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'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 24923
Share Capital 0000
Reserves 24923
Debt +0009
Long Term Debt0009
Short Term Debt0000
Minority Interest0000
Trade Payables261224
Others Liabilities 1112
Total Liabilities 5102258

Fixed Assets

Net Fixed Assets +0001
Gross Block0112
Accumulated Depreciation0001
CWIP 00010
Investments 0000
Inventories0000
Trade Receivables14525
Cash Equivalents flag 241415
Others Assets 1237
Total Assets 5102258

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 02103
PBT 03819
Adjustment 000-0
Changes in Working Capital 015-11
Tax Paid 0-2-3-5
Cash Flow From Investing Activity + 0-0-4-11
Capex 0-0-0-11
Net Investments 00-4-0
Others 0001
Cash Flow From Financing Activity + 0009
Net Proceeds from Shares 0000
Net Proceeds from Borrowing 0009
Interest Paid 0000
Dividend Paid 0000
Others 0000
Net Cash Flow 0261

Financial Ratio

PARTICULARSMar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)71.6271.3984.187.11
ROCE (%)96.8298.11117.3291.69
Asset Turnover Ratio2.73.833.242.62
PAT to CFO Conversion(x)0120.21
Working Capital Days
Receivable Days4235.5032.6052.30
Inventory Days0000
Payable Days0000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Workmates Core2Cloud Solution Ltd FAQs

The current trading price of Workmates Core2Cloud on 04-Jun-2026 16:59 is ₹309.0.

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 Workmates Core2Cloud stood at ₹399.2 Cr

The latest P/E ratio of Workmates Core2Cloud as of 03-Jun-2026 is 24.37.

The latest P/B ratio of Workmates Core2Cloud as of 03-Jun-2026 is 4.32.

The 52-week high of Workmates Core2Cloud is ₹514.0 and the 52-week low is ₹264.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Workmates Core2Cloud is ₹144 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Workmates Core2Cloud Solution Ltd is a average quality company.

The key valuation ratios of Workmates Core2Cloud Solution Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Workmates Core2Cloud Solution Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Workmates Core2Cloud Solution Ltd

Workmates Core2Cloud Solution was originally formed as a Private Limited company under the provisions of the Companies Act, 2013 vide certificate of incorporation dated November 14, 2018, issued by the Central Registration Centre, West Bengal. The company was converted from a Private Limited company to a Public Limited company pursuant to the board resolution dated December 12, 2024 and special resolution passed by the Shareholders at the EOGM dated December 16, 2024. Consequently, the name of the company was changed from ‘Workmates Core2Cloud Solution Private Limited’ to ‘Workmates Core2Cloud Solution Limited’ and a fresh certificate of incorporation consequent upon conversion to Public Company dated January 16, 2025 was issued by the Registrar of Companies, Central Processing Centre.

It is a cloud and digital transformation company, dedicated to helping enterprises modernize, secure, and scale their digital core. It delivers a full spectrum of cloud and cloud-centric services - spanning workload assessment, seamless migration, application modernization, and end-to-end managed services - in strategic collaboration with Amazon Web Services (AWS). Its solutions are designed not only to move businesses to the cloud but to enable them to unlock the full potential of digital transformation and Generative AI with agility, security and scale.

It's comprehensive range of services enables it to partner with customers throughout their entire cloud and digital transformation journey, now further strengthened by the growing adoption of AI and Generative AI technologies into cloud technology. Its engagement typically begins with a thorough assessment of the customer’s existing IT landscape to understand their business needs and readiness for the cloud. It then designs and executes a seamless migration and implementation plan that ensures minimal disruption and maximum value. Post-migration, it helps customers modernize their applications to fully leverage cloud-native capabilities, improving agility, scalability, and performance. Beyond the initial transformation, its managed services provide continuous monitoring, optimization, security, and compliance support ensuring customers derive ongoing value, efficiency, and innovation from their cloud environment. This end-to-end capability positions it not just as a service provider for one-time migrations, but as a long-term digital partner driving sustainable growth and transformation for its clients.

In addition to its core cloud services, it offers integration of cybersecurity solutions of third-party OEMs into cloud to ensure that its customers’ digital environments remain secure, compliant, and resilient. As businesses increasingly rely on cloud platforms, protecting sensitive data and ensuring secure operations has become critical. It integrates leading cybersecurity tools and best practices into every stage of the cloud journey covering threat detection, data protection, access control, and compliance so that customers can operate confidently in a secure digital environment.

Business area of the company

The company is primarily engaged in the business of Information Technology Development & Consultancy, Resale and Cloud Management and Content Creation. It delivers a full spectrum of cloud and cloud-centric services - spanning workload assessment, seamless migration, application modernization, and end-to-end managed services - in strategic collaboration with Amazon Web Services (AWS). In addition to its core cloud services, it offers integration of cybersecurity solutions of third-party OEMs into cloud to ensure that its customers’ digital environments remain secure, compliant, and resilient.

Services of the company

  • Assessment & Migration Services
  • Modernization Services
  • Managed Services
  • Cyber Security Services
  • Gen AI & Analytics Services
  • Database Services

Awards and recognitions

  • 2020: Honourable mention in AWS Partner Network’s Regional 2020 Partners of the year
  • 2022: Awarded the ‘SMB partner of the year’ by Amazon Web Services (AWS)
  • 2023: Awarded the Migration Services Competency
  • 2024: Visionary Award - Leading Digital Transformation Partner.

History and millstones

  • 2018: Started the business as a Private Limited Company on November 14, 2018, in the name of ‘Workmates Core2Cloud Solution Private Limited’
  • 2018: Registered with Amazon Web Services (AWS) as a Registered AWS Partner.
  • 2019: Selected as Amazon Web Services (AWS) Select Consulting Partner
  • 2019: Selected as Amazon Web Services (AWS) Advanced Consulting Partner
  • 2020: Recognised as Amazon Web Services (AWS) Managed Category Partner
  • 2021: Selected as Amazon Web Services (AWS) SAMbhav Partner
  • 2021: Selected as Amazon Web Services (AWS) Web Architected Partner
  • 2021: Selected as Amazon Web Services (AWS) Cloudfront Service delivery partner
  • 2021: Selected as Amazon Web Services (AWS) WAF Service delivery partner
  • 2021: Selected as Amazon Web Services (AWS) APN Immersion Days Partner by AWS
  • 2021: Achieved AWS DevOps Competency
  • 2021: Selected as Amazon Web Services (AWS) Cloud Formation Service Delivery partner
  • 2022: Started Managed Security & Managed Database Service Line
  • 2022: Achieved the completion of 500 projects
  • 2022: Started App Development Practise
  • 2022: Opening of new managed services operation office in Kolkata
  • 2023: Completion of 4 years of Operations and organisation of first mega campus recruitment
  • 2023: Sponsor at AWS Summit 2023
  • 2025: Converted the company from a private to public limited company, ‘Workmates Core2Cloud Solution Limited.

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