How has been the historical performance of Innovana Think.?

Revenue and Profitability Trends

Over the past seven years, Innovana Think. has steadily increased its net sales, rising from ₹45.14 crores in March 2019 to ₹103.48 crores in March 2025. This represents a more than twofold increase, underscoring the company’s ability to expand its top line despite market fluctuations. The total operating income mirrors this growth trajectory, with no other operating income reported during this period.

Operating profit margins have shown marked improvement, with the operating profit margin excluding other income climbing from 31.24% in 2019 to an impressive 54.31% in 2025. Gross profit margins have also expanded, reaching 60.4% in the latest fiscal year, indicating effective cost management and operational efficiency.

Profit after tax (PAT) has followed a similar upward trend, increasing from ₹10.67 crores in 2019 to ₹41.61 crores in 2025. The PAT margin has remained strong, fluctuating around the 40% mark in recent years, which is a testament to the company’s profitability and sustainable earnings quality. Earnings per share (EPS) have correspondingly risen, with a notable jump to ₹21.53 in 2025 from ₹10.41 in 2019, reflecting enhanced shareholder value.

Asset and Liability Position

Innovana Think.’s total assets have expanded significantly from ₹122.42 crores in 2020 to ₹277.08 crores in 2025. This growth is supported by increases in both non-current assets and current assets. Non-current assets, including gross block and intangible assets under development, have risen steadily, reflecting ongoing investments in infrastructure and technology. The company’s net block has grown from ₹12.17 crores in 2020 to ₹22.06 crores in 2025, while capital work in progress and intangible assets under development have also seen notable increases.

Current assets have fluctuated but show an overall upward trend, with inventories and sundry debtors increasing, indicating expanding operations and sales. Cash and bank balances have varied, peaking at ₹52.33 crores in 2022 before settling at ₹12.07 crores in 2025, reflecting active cash management and investment activities.

On the liabilities side, shareholder’s funds have grown robustly from ₹49.87 crores in 2020 to ₹205.45 crores in 2025, signalling strong equity base expansion. Total liabilities have also increased but remain well-managed relative to assets. The company has maintained low levels of debt, with total debt at ₹5.26 crores in 2025, down from a peak of ₹7.53 crores in 2024, indicating prudent leverage management.

Cash Flow and Operational Efficiency

Cash flow from operating activities has shown variability, with a significant inflow of ₹34 crores in 2025 compared to zero in 2024. This improvement highlights better working capital management and operational cash generation. Investing activities have consistently reflected outflows, indicative of ongoing capital expenditure and strategic investments. Financing activities have fluctuated, with a net outflow of ₹9 crores in 2025 following a positive inflow in 2024, suggesting active capital structure adjustments.

Net cash inflow has been positive in recent years, with ₹6 crores in 2025 and ₹1 crore in 2024, after a substantial outflow in 2023. The company’s ability to maintain positive cash flow despite investment and financing activities underscores its financial resilience.

Summary and Outlook

Innovana Think. has exhibited a strong and consistent financial performance over the last several years. The company’s revenue and profit growth, coupled with expanding margins, reflect operational strength and effective cost control. Its asset base has grown substantially, supported by investments in fixed and intangible assets, while liabilities have been prudently managed with low debt levels.

Cash flow trends indicate improving operational efficiency and disciplined capital expenditure. The company’s rising earnings per share and book value per share further demonstrate value creation for shareholders. Overall, Innovana Think.’s historical performance suggests a well-managed enterprise with a solid foundation for future growth.

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