INDIQUBE Share Price | Indiqube Spaces Ltd Stock Analysis & Recommendation

Q: How has been the historical performance of Indiqube Spaces?

Answer:The historical performance of Indiqube Spaces shows significant changes over the past two years.Breakdown:In the fiscal year ending March 2025, Indiqube Spaces reported net sales of 1,059.29 Cr, an increase from 830.57 Cr in March 2024. The total operating income also rose to 1,059.29 Cr from 830.57 Cr, while total expenditure decreased to 442.74 Cr from 604.24 Cr. This led to a substantial increase in operating profit (PBDIT), which reached 660.20 Cr compared to 263.42 Cr the previous year. However, the company still reported a loss before tax of -157.30 Cr, an improvement from -384.82 Cr in the prior year, and a profit after tax of -139.62 Cr, up from -341.51 Cr. The earnings per share improved significantly to -10.72 from -1897.28. On the balance sheet, total liabilities increased to 4,558.71 Cr from 3,567.34 Cr, while total assets also rose to 4,558.71 Cr from 3,567.34 Cr. The cash flow from operating activities improved to 611.00 Cr from 542.00 Cr, indicating better operational efficiency, although the net cash inflow was minimal at 15.00 Cr. Overall, while Indiqube Spaces has shown improvement in sales and operational metrics, it continues to face challenges with profitability and increasing liabilities.

Q: Is Indiqube Spaces overvalued or undervalued?

As of 14 November 2025, Indiqube Spaces has moved from a fair to an expensive valuation grade. The company is currently considered overvalued, with a PE ratio of -32.96, a Price to Book Value of 8.36, and an EV to EBITDA ratio of 14.40. These ratios indicate significant financial challenges, particularly the negative PE ratio and a low ROE of -25.37%, suggesting inefficiencies in generating profit relative to shareholder equity.In comparison to its peers, Indiqube Spaces stands out unfavorably. For instance, Altius Telecom is rated very attractive with a PE of 51.5, while other competitors like Embassy Office REIT and Mindspace Business have very expensive valuations with PE ratios of 130.21 and 53.94, respectively. Despite a recent one-week stock return of 7.66% compared to the Sensex's 1.62%, the overall financial metrics and peer comparisons reinforce the conclusion that Indiqube Spaces is overvalued in the current market.

Q: When is the next results date for Indiqube Spaces Ltd?

The next results date for Indiqube Spaces Ltd is scheduled for 10 February 2026.

Q: Are Indiqube Spaces Ltd latest results good or bad?

Indiqube Spaces Ltd's latest results present a mixed picture. On one hand, the company has shown significant revenue growth, with net sales increasing by 11.37% quarter-on-quarter and an impressive 45.56% year-on-year, reaching ₹389.94 crores. Additionally, the operating margin has improved to 60.85%, the highest in eight quarters, indicating strong operational efficiency.However, despite these positive trends, the company continues to face challenges in profitability. It reported a net loss of ₹17.07 crores for Q3 FY26, although this was an improvement of 42.85% compared to the previous quarter's loss of ₹29.87 crores. The losses have raised concerns about the sustainability of its business model, especially given the substantial interest burden of ₹112.33 crores, which significantly erodes the operating profit.In summary, while Indiqube Spaces Ltd is experiencing robust revenue growth and improving operational metrics, the ongoing net losses and high debt levels present significant challenges, making the overall results somewhat concerning. Investors should weigh these factors carefully when assessing the company's financial health and future prospects.

Q: Should I buy, sell or hold Indiqube Spaces Ltd?

Based on the current information regarding Indiqube Spaces Ltd, it appears that the company is facing significant challenges. The high debt level, indicated by a Debt-Equity Ratio of 7.78 times, suggests a weak long-term financial position. Additionally, while net sales have seen a growth rate of 27.50% over the last five years, the operating profit has stagnated at 0%, which raises concerns about sustainable profitability.The company's Return on Capital Employed (ROCE) of 2.7 and an enterprise value to capital employed ratio of 1.6 indicate an expensive valuation relative to its earnings. Furthermore, the stock has not performed well over the past year, generating a return of 0.00% and underperforming the market, despite a notable 59% increase in profits.On a more positive note, the company has reported positive results for the last two consecutive quarters, with net sales reaching a high of Rs 389.94 crore and an operating profit to interest ratio of 2.11 times, which are encouraging signs.However, given the high debt levels and the overall weak long-term growth fundamentals, it may be prudent to consider a "strong sell" recommendation. If you currently hold shares, you might want to evaluate your position carefully, as the risks associated with the company's financial health appear to outweigh the recent positive performance.

Mojo Score Change: Indiqube Spaces has changed its score on 02 Mar 2026. Click here to unlock latest mojo score!

Price Point

High/Low

1Day

52 Week

Valuation

Technical

Day's Volume

CASH

1.01 lacs (39.87%) Volume

Shareholding (Dec 2025)

FII

2.30%

Held by 13 FIIs

DII

5.15%

Held by 14 DIIs

Promoter

60.04%

How has been the historical performance of Indiqube Spaces?

13-Nov-2025

Indiqube Spaces has shown significant improvement in net sales and operating profit over the past two years, with net sales rising to 1,059.29 Cr and operating profit reaching 660.20 Cr. However, the company still reported a loss before tax of -157.30 Cr and faces challenges with increasing liabilities.

View full answer

Is Indiqube Spaces overvalued or undervalued?

17-Nov-2025

As of November 14, 2025, Indiqube Spaces is considered overvalued with a negative PE ratio of -32.96 and a low ROE of -25.37%, especially when compared to peers like Altius Telecom, indicating significant financial challenges despite a recent stock return of 7.66%.

View full answer

When is the next results date for Indiqube Spaces Ltd?

30-Jan-2026

The next results date for Indiqube Spaces Ltd is 10 February 2026.

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Are Indiqube Spaces Ltd latest results good or bad?

11-Feb-2026

Indiqube Spaces Ltd's latest results show strong revenue growth of 11.37% quarter-on-quarter and 45.56% year-on-year, with improved operating margins at 60.85%. However, the company reported a net loss of ₹17.07 crores, raising concerns about profitability and sustainability due to high debt levels.

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Should I buy, sell or hold Indiqube Spaces Ltd?

03-Mar-2026

Why is Indiqube Spaces Ltd falling/rising?

17-Mar-2026

As of 16-Mar, Indiqube Spaces Ltd's stock price is at Rs. 142.05, reflecting a significant decline of 31.04% year-to-date and hitting a new 52-week low. The stock's poor performance is attributed to high debt levels and weak long-term growth prospects, despite some recent positive financial results.

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Which are the latest news on Indiqube Spaces?

17-Mar-2026

Indiqube Spaces Ltd Hits All-Time Low Amidst Continued Downtrend
Indiqube Spaces Ltd Falls to 52-Week Low of Rs.146.35 Amidst Weak Fundamentals

Compare Indiqube Spaces with Similar Stocks

Hemisphere Prop Quess Corp SIS

Score

Click here to find our call on this stock

Strong Sell

Sell

Hold

Buy

Strong Buy

Dashboard

With HIgh Debt (Debt-Equity Ratio at 7.78 times)- the company has a Weak Long Term Fundamental Strength

Poor long term growth as Net Sales has grown by an annual rate of 27.50% and Operating profit at 0% over the last 5 years
High Debt Company with a Debt to Equity ratio (avg) at 0 times

With ROCE of 2.7, it has a Expensive valuation with a 1.5 Enterprise value to Capital Employed

Mojo Parameters

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Stock DNA

Industry

Diversified Commercial Services

Market cap

INR 3,011 Cr (Small Cap)

P/E

NA (Loss Making)

Industry P/E

Dividend Yield

0.00%

Debt Equity

7.78

Return on Equity

-25.37%

Price to Book

5.47

Revenue and Profits:

Net Sales:

390 Cr

(Quarterly Results - Dec 2025)

Net Profit:

-17 Cr

Total Returns

Total Returns (Price + Dividend)

Dividend Yield (0%)

TimePeriod

Price Return

Dividend Return

Total Return

3 Months

-31.84%

6 Months

-38.93%

1 Year

0.0%

2 Years

0.0%

3 Years

0.0%

4 Years

0.0%

5 Years

0.0%

Indiqube Spaces for the last several years.

Risk Adjusted Returns v/s

Returns Beta

Beta has not been calculated since enough price history is not available

News & Corporate Actions

News

Indiqube Spaces Ltd Hits All-Time Low Amidst Continued Downtrend

Indiqube Spaces Ltd, a player in the diversified commercial services sector, has recorded a new all-time low share price of Rs.137.35, marking a significant decline amid sustained negative momentum. The stock’s recent performance reflects a challenging period, with losses extending over multiple time frames and underperformance relative to key benchmarks.

Read full news article

Indiqube Spaces Ltd Falls to 52-Week Low Amidst Weak Technical and Fundamental Indicators

Indiqube Spaces Ltd has touched a new 52-week and all-time low of Rs.139.6 today, marking a significant decline amid broader market volatility and sector underperformance. The stock has been on a downward trajectory for four consecutive sessions, shedding 13.7% over this period and underperforming its sector by 1.98% on the day.

Read full news article

Indiqube Spaces Ltd Hits All-Time Low Amidst Continued Downtrend

Indiqube Spaces Ltd, a player in the Diversified Commercial Services sector, recorded a new all-time low of Rs.146.15 on 16 Mar 2026, marking a significant decline amid sustained negative momentum. The stock has underperformed its sector and broader market indices over multiple time frames, reflecting ongoing pressures on its valuation and market sentiment.

Read full news article

Announcements

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

12-Mar-2026 | Source : BSE

Allotment of equity shares of Re. 1/- each under Indiqube Stock Option Plan (ESOP 2022)

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

02-Mar-2026 | Source : BSE

Intimation of Analyst/ Investor Meet

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

02-Mar-2026 | Source : BSE

Intimation of Analyst/ Investor Meet

Corporate Actions

BOARD MEETING

No Upcoming Board Meetings

DIVIDEND

No Dividend history available

SPLITS

No Splits history available

BONUS

No Bonus history available

RIGHTS

No Rights history available

Key Factors

Quality key factors

Factor

Value

Sales Growth (5y)

27.50%

EBIT Growth (5y)

178.00%

EBIT to Interest (avg)

Debt to EBITDA (avg)

7.18

Net Debt to Equity (avg)

-13.18

Sales to Capital Employed (avg)

Tax Ratio

Tax Ratio is Negative%

Dividend Payout Ratio

Pledged Shares

Institutional Holding

16.96%

ROCE (avg)

2.93%

ROE (avg)

Valuation key factors

Factor

Value

P/E Ratio

NA (Loss Making)

Industry P/E

Price to Book Value

5.39

EV to EBIT

56.00

EV to EBITDA

11.75

EV to Capital Employed

1.50

EV to Sales

6.84

PEG Ratio

Dividend Yield

ROCE (Latest)

2.68%

ROE (Latest)

-25.37%

Technicals key factors

Indicator

Weekly

Monthly

MACD

Bearish

RSI

No Signal

Bollinger Bands

Bearish

KST

Dow Theory

Bearish

OBV

Mildly Bearish

Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned

Shareholding

Shareholding Snapshot : Dec 2025

Shareholding Compare (%holding)

Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 8 Schemes (9.12%)

FIIs

Held by 13 FIIs (2.3%)

Promoter with highest holding

Anshuman Das (21.82%)

Highest Public shareholder

Aravali Investment Holdings (19.14%)

Individual Investors Holdings

2.77%

Financial

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Quarterly Results Snapshot (Standalone) - Dec'25 - QoQ

Dec'25

Sep'25

Change(%)

Net Sales

389.94

350.14

11.37%

Operating Profit (PBDIT) excl Other Income

237.27

207.89

14.13%

Interest

112.33

106.79

5.19%

Exceptional Items

0.00

Standalone Net Profit

-17.07

-29.87

42.85%

Operating Profit Margin (Excl OI)

60.85%

59.37%

1.48%

Values in Rs Cr.

Compare with Peers

Net Sales

QoQ Growth in quarter ended Dec 2025 is 11.37% vs 13.21% in Sep 2025

Standalone Net Profit

QoQ Growth in quarter ended Dec 2025 is 42.85% vs 18.74% in Sep 2025

All Quarterly Results

Half Yearly Results Snapshot (Standalone) - Sep'25

Sep'25

Sep'24

Change(%)

Net Sales

659.43

494.45

33.37%

Operating Profit (PBDIT) excl Other Income

396.00

288.83

37.10%

Interest

216.73

152.94

41.71%

Exceptional Items

0.00

Standalone Net Profit

-66.62

-94.56

29.55%

Operating Profit Margin (Excl OI)

60.05%

58.41%

1.64%

Values in Rs Cr.

Compare with Peers

Net Sales

Not Applicable: The company has declared_date for only one period

Standalone Net Profit

Not Applicable: The company has declared_date for only one period

All Half Yearly Results

Nine Monthly Results Snapshot (Standalone) - Dec'25

Dec'25

Dec'24

Change(%)

Net Sales

1,049.37

762.34

37.65%

Operating Profit (PBDIT) excl Other Income

633.27

446.59

41.80%

Interest

329.06

239.21

37.56%

Exceptional Items

0.00

Standalone Net Profit

-83.69

-108.29

22.72%

Operating Profit Margin (Excl OI)

60.35%

58.58%

1.77%

Values in Rs Cr.

Compare with Peers

Net Sales

Not Applicable: The company has declared_date for only one period

Standalone Net Profit

Not Applicable: The company has declared_date for only one period

All Nine Monthly Results

Annual Results Snapshot (Standalone) - Mar'25

Mar'25

Mar'24

Change(%)

Net Sales

1,059.29

830.57

27.54%

Operating Profit (PBDIT) excl Other Income

616.55

226.33

172.41%

Interest

330.35

256.00

29.04%

Exceptional Items

0.00

Standalone Net Profit

-139.62

-341.51

59.12%

Operating Profit Margin (Excl OI)

58.20%

27.25%

30.95%

Values in Rs Cr.

Compare with Peers

Net Sales

Not Applicable: The company has declared_date for only one period

Standalone Net Profit

Not Applicable: The company has declared_date for only one period

All Annual Results

Company CV

About Indiqube Spaces Ltd

Indiqube Spaces Ltd

Small Cap

Diversified Commercial Services

Indiqube Space Limited was initially incorporated as Innovent Spaces Private Limited, a Private Limited Company on January 14, 2015 with the Registrar of Companies, Kanpur. Subsequently, the Company changed the name to "Indiqube Spaces Private Limited" and a fresh Certificate of Incorporation dated November 8, 2024 and pursuant to conversion of Company into a Public Limited, the name was changed to "Indiqube Spaces Limited" on December 17, 2024.

Company Coordinates

No Company Details Available