Is Workmates Core2Cloud Solution Ltd (544610) a good quality company?

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

Is Workmates Core2Cloud Solution Ltd (544610) undervalued or overvalued?

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 .

What is Workmates Core2Cloud Solution Ltd (544610) share price return in the past 10 years?

Data is not available for this company

Is Workmates Core2Cloud Solution Ltd (544610) a good buy now?

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.

What is the share price of Workmates Core2Cloud Solution Ltd (544610)?

Company share prices are keep on changing according to the market conditions. The current trading price of Workmates Core2Cloud Solution Ltd (544610) on 10-Apr-2026 16:59:59 at 16:59 is 337.65.

What is the market cap of Workmates Core2Cloud Solution Ltd (544610)?

Market capitalization is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Apr-2026 at 16:59, the market cap of Workmates Core2Cloud Solution stood at Rs. 436.20 Cr.

What is the P/E ratio of Workmates Core2Cloud Solution?

The latest standalone P/E ratio of Workmates Core2Cloud Solution as of 10-Apr-2026 is 31.02.

What is the P/B ratio of Workmates Core2Cloud Solution Ltd (544610)?

The latest standalone P/B ratio of Workmates Core2Cloud Solution Ltd (544610) as of 10-Apr-2026 is 4.72.

What is the 52-week high and low of Workmates Core2Cloud Solution Ltd (544610)?

The 52-week high of Workmates Core2Cloud Solution Ltd (544610) is Rs. 514.00 and the 52-week low is Rs. 275.00.

What is the TTM revenue of Workmates Core2Cloud Solution Ltd (544610)?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Workmates Core2Cloud Solution is Rs. 104.69 (Cr.).

Workmates Core2Cloud Solution Ltd (544610) Share Analysis – Quality, Growth & Valuation Zone & DeciZen Rating

Name: Workmates Core2Cloud Solution Ltd (544610)
Brand: Workmates Core2Cloud Solution

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	96.8%	98.1%	117.3%	91.7%	-
Value Creation Index ⓘ	5.9	6.0	7.4	5.6	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	12.8	29	53.2	105	105
Sales YoY Gr.	-	126.2%	83.9%	96.7%	-
Adj EPS ⓘ	1.3	2	5.4	14.1	10.9
YoY Gr.	-	54.8%	176.4%	160.9%	-
BVPS (₹) ⓘ	1.8	3.7	9.1	23.2	71.6
Adj Net Profit ⓘ	1.3	2	5.4	14.1	14
Cash Flow from Ops. ⓘ	0	2.4	9.8	3.1	-
Debt/CF from Ops. ⓘ	0	0	0	2.9	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	NA	NA	101.5%	96.7%
Adj EPS ⓘ	NA	NA	123.5%	160.9%
BVPSⓘ	NA	NA	136.1%	154.4%
Share Price	-	-	-	-

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	71.6	71.4	84.1	87.2	23
Op. Profit Mgn % ⓘ	13.7	9.2	14	17.6	NAN
Net Profit Mgn % ⓘ	9.9	6.8	10.1	13.5	13.4
Debt to Equity ⓘ	0	0	0	0.4	-
Working Cap Days ⓘ	0	55	50	70	0
Cash Conv. Cycle ⓘ	0	-257	-351	-481	0

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 31.20%

Sales growth has been subdued in last 3 years 0.00%

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at 0.00%

	Standalone	Consolidated
TTM EPS (₹)	10.9	10.8
TTM Sales (₹ Cr.)	105	108
BVPS (₹) ⓘ	71.6	71.4
Reserves (₹ Cr.) ⓘ	80	79
P/BV ⓘ	4.72	4.73
PE ⓘ	31.02	31.32

From the Market
52 Week Low / High (₹)	275.00 / 514.00
All Time Low / High (₹)	275.00 / 514.00
Market Cap (₹ Cr.)	436
Equity (₹ Cr.)	12.9
Face Value (₹)	10
Industry PE ⓘ	23

PARTICULARS	Mar'22	Mar'23	Mar'24	Mar'25
Sales	13	29	53	105
Operating Expenses > ⓘ +	11	26	46	86
Manufacturing Costs	0	0	0	0
Material Costs	0	0	0	0
Employee Cost	2	4	6	10
Other Costs > ⓘ	9	23	39	76
Operating Profit > ⓘ	2	3	7	18
Operating Profit Margin (%)	13.7%	9.2%	14.0%	17.6%
Other Income > ⓘ +	0	0	0	1
Exceptional Items > ⓘ	0	0	0	0
Interest > ⓘ	0	0	0	0
Depreciation > ⓘ	0	0	0	0
Profit Before Tax > ⓘ	2	3	8	19
Tax > ⓘ	0	1	2	5
Profit After Tax	1	2	5	14
PAT Margin (%)	9.9%	6.8%	10.1%	13.4%
Adjusted EPS (₹)	1.3	2.0	5.4	14.1
Dividend Payout Ratio (%)	0%	0%	0%	0%

PARTICULARS	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	2	4	9	23
Share Capital ⓘ	0	0	0	0
Reserves ⓘ	2	4	9	23
Debt +	0	0	0	9
Long Term Debt	0	0	0	9
Short Term Debt	0	0	0	0
Minority Interest	0	0	0	0
Trade Payables	2	6	12	24
Others Liabilities ⓘ	1	1	1	2
Total Liabilities ⓘ	5	10	22	58
Fixed Assets
Net Fixed Assets ⓘ +	0	0	0	1
Gross Block	0	1	1	2
Accumulated Depreciation	0	0	0	1
CWIP ⓘ	0	0	0	10
Investments ⓘ	0	0	0	0
Inventories	0	0	0	0
Trade Receivables	1	4	5	25
Cash Equivalents ⓘ	2	4	14	15
Others Assets ⓘ	1	2	3	7
Total Assets ⓘ	5	10	22	58

PARTICULARS	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	2	10	3
PBT ⓘ	3	8	19
Adjustment ⓘ	0	0	-0
Changes in Working Capital ⓘ	1	5	-11
Tax Paid ⓘ	-2	-3	-5
Cash Flow From Investing Activity ⓘ +	-0	-4	-11
Capex	-0	-0	-11
Net Investments	0	-4	-0
Others ⓘ	0	0	1
Cash Flow From Financing Activity ⓘ +	0	0	9
Net Proceeds from Shares ⓘ	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	9
Interest Paid ⓘ	0	0	0
Dividend Paid ⓘ	0	0	0
Others ⓘ	0	0	0
Net Cash Flow ⓘ	2	6	1

PARTICULARS	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	71.62	71.39	84.1	87.11
ROCE (%)	96.82	98.11	117.32	91.69
Asset Turnover Ratio	2.7	3.83	3.24	2.62
PAT to CFO Conversion(x)	0	1	2	0.21
Working Capital Days
Receivable Days	42	36	33	52
Inventory Days	0	0	0	0
Payable Days	0	0	0	0

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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Workmates Core2Cloud Solution Ltd (544610) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Workmates Core2Cloud Share Price