Icodex Publish.

  • Market Cap: Micro Cap
  • Industry: Software Products
  • ISIN: INE111601014
  • NSEID:
  • BSEID: 544483
INR
37.70
1.65 (4.58%)
BSENSE

Aug 28, 03:30 PM

BSE+NSE Vol: 1200

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

1.2 k (-77.27%) Volume

Shareholding (Mar 2026)

FII

0.00%

Held by 0 FIIs

DII

0.01%

Held by 0 DIIs

Promoter

64.44%

Why is Icodex Publishing Solutions Ltd falling/rising?

28-Aug-2026

As of 27-Aug, Icodex Publishing Solutions Ltd's stock price is declining, currently at 36.05, reflecting a 3.09% decrease. The stock has significantly underperformed over various periods, with a year-to-date decline of 24.11% compared to the benchmark Sensex's 9.72% drop.

As of 27-Aug, Icodex Publishing Solutions Ltd's stock price is falling, currently at 36.05, which reflects a decrease of 1.15 or 3.09%. The stock has underperformed its sector by 2.62% today and has opened with a loss of 3.23%. This decline follows a trend reversal after three consecutive days of gains. <BR><BR>In terms of performance, the stock has shown significant underperformance over various periods, with a year-to-date decline of 24.11% compared to a 9.72% drop in the benchmark Sensex. Over the past year, the stock has decreased by 43.36%, while the Sensex has only fallen by 4.77%. <BR><BR>Today's trading activity indicates a lack of investor interest, as the delivery volume has decreased by 33.33% compared to the five-day average. Additionally, the stock is trading below its moving averages across multiple time frames, indicating a bearish trend. The weighted average price suggests that more volume was traded closer to the day's low, further supporting the downward movement. Overall, these factors contribute to the current decline in Icodex Publishing Solutions Ltd's stock price.

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Which are the latest news on Icodex Publish.?

28-Aug-2026
No latest news for Icodex Publish. found.

What does Icodex Publish. do?

14-Aug-2026

Icodex Publishing Solutions Ltd provides software products for the scholarly and academic publishing industry and operates in the micro-cap market, with a market cap of INR 63 Cr. The company has no reported sales or profit data for recent quarters.

Overview: <BR>Icodex Publishing Solutions Ltd provides software products to the scholarly and academic publishing industry and operates within the micro-cap market.<BR><BR>History: <BR>Icodex Publishing Solutions Ltd was incorporated on May 28, 2018, as Icodex Publishing Solutions Private Limited and later changed its name to Icodex Publishing Solutions Limited on August 20, 2024. There is no sales or profit data reported for any recent quarter.<BR><BR>Financial Snapshot: <BR>Most recent Net Sales: N/A <BR>Most recent Net Profit: N/A <BR>Market-cap value: INR 63 Cr (Micro Cap)<BR><BR>Key Metrics: <BR>P/E: 8.00 <BR>Industry P/E: 22 <BR>Dividend Yield: 0.00% <BR>Debt-Equity: -0.10 <BR>Return on Equity: 12.59% <BR>Price-to-Book: 1.16 <BR><BR>Contact Details: <BR>Registrar Address: Not available. <BR>Phone: N/A <BR>Email: N/A <BR>Website: N/A

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Who are the peers of the Icodex Publish.?

14-Aug-2026

Peers of Icodex Publish. include Xelpmoc Design, Cranes Software, BITS, Kati Patang Life, Odyssey Tech., B2B Soft.Tech., Netlink Solns(I), and IEC Education. Icodex Publish. exhibits excellent management risk, growth, and capital structure compared to its peers, while Cranes Software has the highest 1-year return at 35.71%.

Peers: The peers of Icodex Publish. are Xelpmoc Design, Cranes Software, BITS, Kati patang Life, Odyssey Tech., B2B Soft.Tech., Netlink Solns(I), and IEC Education.<BR><BR>Quality Snapshot: Excellent management risk is observed at Icodex Publish., while Average management risk is found at Odyssey Tech. and B2B Soft.Tech. Below Average management risk is noted at Xelpmoc Design, BITS, Kati patang Life, and the rest. Icodex Publish. shows Excellent growth, while Average growth is seen at Odyssey Tech. and Below Average growth is present at Xelpmoc Design, BITS, Kati patang Life, and the rest. Icodex Publish. also has Excellent capital structure, while Good capital structure is found at BITS, Odyssey Tech., and B2B Soft.Tech., and Below Average capital structure is noted at Xelpmoc Design, Kati patang Life, Netlink Solns(I), and the rest.<BR><BR>Return Snapshot: Cranes Software has the highest 1-year return at 35.71%, while Odyssey Tech. has the lowest at -51.82%. Icodex Publish. does not have a 1-year return available for comparison. Additionally, the six-month returns are negative for Xelpmoc Design, Odyssey Tech., Kati patang Life, Netlink Solns(I), and the rest.

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How big is Icodex Publish.?

14-Aug-2026

As of 14th August, Icodex Publishing Solutions Ltd has a market capitalization of 58.00 Cr, classifying it as a Micro Cap company, with no available financial data for Net Sales or Net Profit for the latest four quarters. The balance sheet as of March 2025 shows Shareholder's Funds of 19.05 Cr and Total Assets of 24.75 Cr.

As of 14th August, <BR><BR>Market Cap: Icodex Publishing Solutions Ltd has a market capitalization of 58.00 Cr, categorizing it as a Micro Cap company.<BR><BR>Recent Quarterly Performance: There is no valid financial data available for Net Sales or Net Profit for the latest four quarters.<BR><BR>Balance Sheet Snapshot: The reporting period is March 2025, with Shareholder's Funds amounting to 19.05 Cr and Total Assets totaling 24.75 Cr.

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When is the next results date for Icodex Publishing Solutions Ltd?

13-May-2026

The next results date for Icodex Publishing Solutions Ltd is 15 May 2026.

The next results date for Icodex Publishing Solutions Ltd is scheduled for 15 May 2026.

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Is Icodex Publish. overvalued or undervalued?

19-Nov-2025

As of November 18, 2025, Icodex Publish. is rated very attractive and undervalued with a PE ratio of 9.77 and strong ROCE of 35.32%, significantly outperforming peers like TCS and Infosys, despite recent underperformance against the Sensex, while showing a robust 21.45% return over the past month.

As of 18 November 2025, the valuation grade for Icodex Publish. has moved from does not qualify to very attractive, indicating a significant improvement in its perceived value. The company is currently assessed as undervalued, supported by a PE ratio of 9.77, an EV to EBIT of 5.39, and a robust ROCE of 35.32%. <BR><BR>In comparison to its peers, TCS has a PE ratio of 22.2 and EV to EBITDA of 15.6, while Infosys shows a PE of 21.95 and an EV to EBITDA of 14.37. These comparisons highlight Icodex Publish.'s favorable valuation metrics relative to established competitors in the software products industry. Additionally, while the stock has recently underperformed the Sensex over the past week, it has shown a strong return of 21.45% over the past month, reinforcing the potential for growth as it aligns more closely with its intrinsic value.

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How has been the historical performance of Icodex Publish.?

15-Nov-2025

Icodex Publish has shown strong financial growth over the past two years, with net sales increasing to 10.40 Cr in March 2024 from 9.54 Cr in March 2023, and profit after tax rising to 4.40 Cr from 1.81 Cr. Key metrics such as operating profit margin and total assets have also improved significantly during this period.

Answer:<BR>The historical performance of Icodex Publish shows a positive trend in key financial metrics over the past two years.<BR><BR>Breakdown:<BR>In the standalone annual results for March 2024, Icodex Publish reported net sales of 10.40 Cr, an increase from 9.54 Cr in March 2023. Total operating income also rose to 10.40 Cr from 9.54 Cr, while total expenditure decreased to 6.14 Cr from 7.59 Cr, leading to an operating profit (PBDIT) of 4.85 Cr, up from 2.13 Cr the previous year. Profit before tax improved significantly to 4.45 Cr from 1.84 Cr, resulting in a profit after tax of 4.40 Cr compared to 1.81 Cr in the prior year. The operating profit margin increased to 40.96% from 20.44%, and the profit after tax margin rose to 42.31% from 18.97%. On the balance sheet, total assets grew to 24.75 Cr in March 2025 from 10.67 Cr in March 2024, with total liabilities also increasing to 24.75 Cr from 10.67 Cr. Cash flow from operating activities improved to 6.00 Cr from 3.00 Cr, while cash flow from investing activities showed a larger outflow of -9.00 Cr compared to -3.00 Cr the previous year. Overall, Icodex Publish has demonstrated strong growth in sales, profitability, and asset accumulation over the reported periods.

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iScoreScore
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stock-summaryMojo Parameters

Mojo Parameters

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Stock DNA

stock-summary
Industry

Software Products

stock-summary
Market cap

INR 56 Cr (Micro Cap)

stock-summary
P/E

8.00

stock-summary
Industry P/E

21

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

-0.10

stock-summary
Return on Equity

12.59%

stock-summary
Price to Book

1.00

Revenue and Profits:
Net Sales:
(Quarterly Results - )
Net Profit:
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
0%
0%
0.0%
6 Months
-4.14%
0%
-4.14%
1 Year
-42.44%
0%
-42.44%
2 Years
0%
0%
0.0%
3 Years
0%
0%
0.0%
4 Years
0%
0%
0.0%
5 Years
0%
0%
0.0%

Icodex Publish. for the last several years.

Risk Adjusted Returns v/s stock-summary
Returns Beta
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Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions

News

Icon
No Recent News for the Company

Announcements stock-summary

Scrutinizers Report

16-Aug-2026 | Source : BSE

Enclosed herewith are the voting results along with Scrutinizers Report.

Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot

16-Aug-2026 | Source : BSE

Pursuant to Reg 30 of SEBI(LODR) 2015 enclosed herewith is the outcome of Postal Ballot conducted by the Company.

Shareholder Meeting / Postal Ballot-Scrutinizer"s Report

16-Aug-2026 | Source : BSE

Enclosed herewith are the voting results along with Scrutinizers Report

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

No Dividend history available

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
9.00%
EBIT Growth (5y)
133.53%
EBIT to Interest (avg)
7.09
Debt to EBITDA (avg)
0.40
Net Debt to Equity (avg)
-0.03
Sales to Capital Employed (avg)
0.59
Tax Ratio
30.90%
Dividend Payout Ratio
0
Pledged Shares
0
Institutional Holding
0.01%
ROCE (avg)
41.58%
ROE (avg)
47.19%

Valuation key factors

Factor
Value
P/E Ratio
8
Industry P/E
21
Price to Book Value
1.00
EV to EBIT
5.09
EV to EBITDA
4.73
EV to Capital Employed
1.00
EV to Sales
1.95
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
19.67%
ROE (Latest)
12.59%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Bearish
RSI
No Signal
Bollinger Bands
Mildly Bearish
Moving Averages
Bearish (Daily)
KST
Bearish
Dow Theory
No Trend
Mildly Bearish
OBV
No Trend
Mildly Bearish
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Mar 2026stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 0 Schemes

FIIs

Held by 0 FIIs

Promoter with highest holding

Chetan Shankarlal Soni (31.99%)

Highest Public shareholder

Comercinate Enterprises Private Limited (2.88%)

Individual Investors Holdings

26.75%

stock-summaryFinancial
[
  {
    "link": "quarterly",
    "btn_text": "All Quarterly Results",
    "alert": "No Quarterly Results declared by Icodex Publish."
  },
  {
    "link": "half-yearly",
    "btn_text": "All Half Yearly Results",
    "header": "Half Yearly Results Snapshot (Standalone) - Sep'25",
    "rhs": [
      {
        "prefix": "Net Sales ",
        "suffix": " Growth in half year ended Sep 2025 is 25.93% vs 1.75% in Mar 2025",
        "dir": 1
      },
      {
        "prefix": "Standalone Net Profit ",
        "suffix": " Growth in half year ended Sep 2025 is 18.79% vs 6.93% in Mar 2025",
        "dir": 1
      }
    ],
    "table": {
      "header": [
        "Sep'25",
        "Mar'25",
        "Change(%)"
      ],
      "body": [
        {
          "field": "Net Sales",
          "val1": "13.89",
          "val2": "11.03",
          "chgp": "25.93%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit (PBDIT) excl Other Income",
          "val1": "7.75",
          "val2": "7.23",
          "chgp": "7.19%",
          "chgp_class": "positive"
        },
        {
          "field": "Interest",
          "val1": "0.16",
          "val2": "0.15",
          "chgp": "6.67%",
          "chgp_class": "negative"
        },
        {
          "field": "Exceptional Items",
          "val1": "0.00",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Standalone Net Profit",
          "val1": "5.50",
          "val2": "4.63",
          "chgp": "18.79%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "55.80%",
          "val2": "65.55%",
          "chgp": "-9.75%",
          "chgp_class": "negative"
        }
      ]
    }
  },
  {
    "link": "nine-monthly",
    "btn_text": "All Nine Monthly Results",
    "alert": "No Nine Monthly Results declared by Icodex Publish."
  },
  {
    "link": "annual",
    "btn_text": "All Annual Results",
    "header": "Annual Results Snapshot (Standalone) - Mar'25",
    "rhs": [
      {
        "prefix": "Net Sales ",
        "suffix": "YoY Growth in year ended Mar 2025 is 110.38% vs 9.01% in Mar 2024",
        "dir": 1
      },
      {
        "prefix": "Standalone Net Profit ",
        "suffix": "YoY Growth in year ended Mar 2025 is 103.64% vs 143.09% in Mar 2024",
        "dir": -1
      }
    ],
    "table": {
      "header": [
        "Mar'25",
        "Mar'24",
        "Change(%)"
      ],
      "body": [
        {
          "field": "Net Sales",
          "val1": "21.88",
          "val2": "10.40",
          "chgp": "110.38%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit (PBDIT) excl Other Income",
          "val1": "13.43",
          "val2": "4.26",
          "chgp": "215.26%",
          "chgp_class": "positive"
        },
        {
          "field": "Interest",
          "val1": "0.22",
          "val2": "0.04",
          "chgp": "450.00%",
          "chgp_class": "negative"
        },
        {
          "field": "Exceptional Items",
          "val1": "0.00",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Standalone Net Profit",
          "val1": "8.96",
          "val2": "4.40",
          "chgp": "103.64%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "61.38%",
          "val2": "40.96%",
          "chgp": "20.42%",
          "chgp_class": "positive"
        }
      ]
    }
  }
]

Half Yearly Results Snapshot (Standalone) - Sep'25stock-summary

Sep'25
Mar'25
Change(%)
Net Sales
13.89
11.03
25.93%
Operating Profit (PBDIT) excl Other Income
7.75
7.23
7.19%
Interest
0.16
0.15
6.67%
Exceptional Items
0.00
0.00
Standalone Net Profit
5.50
4.63
18.79%
Operating Profit Margin (Excl OI)
55.80%
65.55%
-9.75%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is 25.93% vs 1.75% in Mar 2025

Direction Arrows
Standalone Net Profit

Growth in half year ended Sep 2025 is 18.79% vs 6.93% in Mar 2025

Annual Results Snapshot (Standalone) - Mar'25stock-summary

Mar'25
Mar'24
Change(%)
Net Sales
21.88
10.40
110.38%
Operating Profit (PBDIT) excl Other Income
13.43
4.26
215.26%
Interest
0.22
0.04
450.00%
Exceptional Items
0.00
0.00
Standalone Net Profit
8.96
4.40
103.64%
Operating Profit Margin (Excl OI)
61.38%
40.96%
20.42%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2025 is 110.38% vs 9.01% in Mar 2024

Direction Arrows
Standalone Net Profit

YoY Growth in year ended Mar 2025 is 103.64% vs 143.09% in Mar 2024

stock-summaryCompany CV
About Icodex Publishing Solutions Ltd stock-summary
stock-summary
Icodex Publishing Solutions Ltd
Micro Cap
Software Products
Icodex Publishing Solutions Limited was incorporated on May 28, 2018 as `Icodex Publishing Solutions Private Limited', a Private Limited Company, issued by the Registrar of Companies, Central Registration Centre and was subsequently changed to `Icodex Publishing Solutions Limited' vide fresh Certificate of Incorporation dated August 20, 2024 issued by the Central Processing Centre. The Company was incorporated to provide software products to the scholarly and academic publishing industry.
Company Coordinates stock-summary
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No Company Details Available