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Indiqube Spaces

  • Market Cap: Small Cap
  • Industry: Diversified Commercial Services
  • ISIN: INE06ST01018
  • NSEID: INDIQUBE
  • BSEID: 544454
INR
204.05
-1.2 (-0.58%)
BSENSE

Dec 19

BSE+NSE Vol: 26.25 k

Click here to access the older version
  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

200.95206.05

52 Week

191.70243.80
Valuation
Technical
Day's Volume

CASH

26.25 k (-64.69%) Volume

Shareholding (Sep 2025)

FII

2.67%

Held by 19 FIIs

DII

5.52%

Held by 14 DIIs

Promoter

60.60%

Are Indiqube Spaces latest results good or bad?

09-Nov-2025

Indiqube Spaces' latest results show strong revenue growth of 44.52% year-on-year, reaching ₹350.14 crores, but the company continues to face profitability challenges with a net loss of ₹29.87 crores for the quarter, marking its eighth consecutive loss. While revenue growth is promising, ongoing financial difficulties raise concerns about its long-term stability and path to profitability.

Indiqube Spaces' latest results present a mixed picture. On one hand, the company has shown significant revenue growth, with net sales increasing by 44.52% year-on-year, reaching ₹350.14 crores in Q2 FY26. This marks the highest quarterly revenue in the company's history, indicating strong demand for its co-working solutions and successful expansion efforts.<BR><BR>However, the company continues to face challenges with profitability, reporting a net loss of ₹29.87 crores for the quarter. While this represents a 43.13% improvement year-on-year and an 18.75% reduction from the previous quarter, it still raises concerns as this marks the eighth consecutive quarter of losses. The operating margin, although strong at 59.37%, has contracted slightly from the previous quarter due to rising employee costs.<BR><BR>Additionally, the company has a negative book value, which raises questions about its financial stability. The heavy interest burden and high depreciation costs further complicate its path to profitability. <BR><BR>In summary, while Indiqube Spaces is experiencing robust revenue growth and improving operational efficiency, the ongoing losses and financial challenges suggest that the overall results are not entirely positive. The sustainability of its growth strategy and the timeline to profitability remain uncertain.

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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.

Answer:<BR>The historical performance of Indiqube Spaces shows significant changes over the past two years.<BR><BR>Breakdown:<BR>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.

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Should I buy, sell or hold Indiqube Spaces?

15-Nov-2025

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%.

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.<BR><BR>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.

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Why is Indiqube Spaces falling/rising?

20-Dec-2025

As of 19-Dec, Indiqube Spaces Ltd's stock price is at 204.05, reflecting a decline and underperformance compared to its sector. The stock's weak performance is attributed to falling investor participation, high debt levels, and poor long-term growth prospects.

As of 19-Dec, Indiqube Spaces Ltd's stock price is falling, currently at 204.05, which reflects a decrease of 1.2 (-0.58%). The stock has been underperforming, having lost value for three consecutive days with a total decline of -0.68% during this period. Additionally, the stock touched an intraday low of Rs 200.95, marking a decrease of 2.1%.<BR><BR>The stock's performance today has also been notably weaker than the sector, underperforming by -1.82%. A significant factor contributing to the decline is the falling investor participation, as evidenced by a delivery volume of 12.51k on 18 Dec, which has decreased by -70.52% compared to the 5-day average. This decline in trading activity indicates reduced interest from investors.<BR><BR>Moreover, the company's financial health raises concerns. It has a high Debt-Equity Ratio of 7.78 times, indicating weak long-term fundamental strength. Although the company reported its highest operating cash flow and net sales recently, its long-term growth prospects appear poor, with net sales growing at an annual rate of only 27.50% and operating profit stagnating at 0% over the last five years. The return on capital employed (ROCE) is low at 2.7, suggesting an expensive valuation.<BR><BR>Institutional investor participation has also decreased, with a reduction of -17.87% in their stakes over the previous quarter, which may further signal a lack of confidence in the company's future performance. Overall, these factors contribute to the stock's current downward trend.

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Which are the latest news on Indiqube Spaces?

20-Dec-2025
Indiqube Spaces Sees Revision in Market Evaluation Amid Mixed Financial Signals
Indiqube Spaces Falls to 52-Week Low of Rs.191.7 Amid Market Pressure

iScoreScore
Click here to find our call on this stock
Strong Sell
Sell
Hold
Buy
Strong Buy

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Dashboard
1

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
2

With ROCE of 2.7, it has a Expensive valuation with a 1.8 Enterprise value to Capital Employed

3

Falling Participation by Institutional Investors

stock-summaryMojo Parameters
Mojo Parameters
Loading Valuation Snapshot...
Stock DNA
stock-summary
Industry

Diversified Commercial Services

stock-summary
Market cap

INR 4,264 Cr (Small Cap)

stock-summary
P/E

NA (Loss Making)

stock-summary
Industry P/E

35

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

7.78

stock-summary
Return on Equity

-25.37%

stock-summary
Price to Book

7.82

Revenue and Profits:
Net Sales:
350 Cr
(Quarterly Results - Sep 2025)
Net Profit:
-30 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
-14.17%
0%
-14.17%
6 Months
0%
0%
0.0%
1 Year
0%
0%
0.0%
2 Years
0%
0%
0.0%
3 Years
0%
0%
0.0%
4 Years
0%
0%
0.0%
5 Years
0%
0%
0.0%

Indiqube Spaces for the last several years.

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions
News
Indiqube Spaces Sees Revision in Market Evaluation Amid Mixed Financial Signals

Indiqube Spaces Sees Revision in Market Evaluation Amid Mixed Financial Signals

Indiqube Spaces has experienced a revision in its market evaluation, reflecting changes in its financial and technical outlook. The stock’s recent assessment highlights a complex picture shaped by its financial trends, valuation, and market participation, offering investors a nuanced perspective on its current standing within the diversified commercial services sector.

Read More
Indiqube Spaces Falls to 52-Week Low of Rs.191.7 Amid Market Pressure

Indiqube Spaces Falls to 52-Week Low of Rs.191.7 Amid Market Pressure

Indiqube Spaces has reached a new 52-week low of Rs.191.7, marking a significant decline amid a broader market environment that has seen the stock underperform its sector and key benchmarks. The stock has experienced a sustained downward trend over the past nine trading sessions, reflecting a combination of financial and market factors.

Read More
Indiqube Spaces Stock Hits All-Time Low Amidst Prolonged Downtrend

Indiqube Spaces Stock Hits All-Time Low Amidst Prolonged Downtrend

Indiqube Spaces has reached a new all-time low of Rs.192, marking a significant milestone in its recent trading performance. The stock has experienced a sustained decline over the past nine sessions, reflecting a challenging period for the company within the diversified commercial services sector.

Read More
Announcements stock-summary

Shareholder Meeting / Postal Ballot-Scrutinizers Report

13-Dec-2025 | Source : BSE

Indiqube Spaces Limited intimates the result of the postal ballot and scrutinizers report.

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

02-Dec-2025 | Source : BSE

Intimation of Investor meet

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

14-Nov-2025 | Source : BSE

Intimation of Investor/Analyst meet

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)
27.50%
EBIT Growth (5y)
178.00%
EBIT to Interest (avg)
0
Debt to EBITDA (avg)
7.18
Net Debt to Equity (avg)
-13.18
Sales to Capital Employed (avg)
0
Tax Ratio
Tax Ratio is Negative%
Dividend Payout Ratio
0
Pledged Shares
0
Institutional Holding
17.05%
ROCE (avg)
2.93%
ROE (avg)
0
Valuation key factors
Factor
Value
P/E Ratio
NA (Loss Making)
Industry P/E
35
Price to Book Value
7.79
EV to EBIT
66.18
EV to EBITDA
13.89
EV to Capital Employed
1.77
EV to Sales
8.08
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
2.68%
ROE (Latest)
-25.37%
Technicals key factors
Indicator
Weekly
Monthly
Icon
No records
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Sep 2025stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 9 Schemes (8.31%)

FIIs

Held by 19 FIIs (2.67%)

Promoter with highest holding

Anshuman Das (22.02%)

Highest Public shareholder

Aravali Investment Holdings (19.32%)

Individual Investors Holdings

1.89%

stock-summaryFinancial
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Quarterly Results Snapshot (Standalone) - Sep'25 - QoQstock-summary
Sep'25
Jun'25
Change(%)
Net Sales
350.14
309.29
13.21%
Operating Profit (PBDIT) excl Other Income
207.89
188.11
10.52%
Interest
106.79
109.93
-2.86%
Exceptional Items
0.00
0.00
Standalone Net Profit
-29.87
-36.76
18.74%
Operating Profit Margin (Excl OI)
59.37%
60.82%
-1.45%
Values in Rs Cr.
stock-summary Compare with Peers
Direction Arrows
Net Sales

QoQ Growth in quarter ended Sep 2025 is 13.21% vs 4.16% in Jun 2025

Direction Arrows
Standalone Net Profit

QoQ Growth in quarter ended Sep 2025 is 18.74% vs -17.33% in Jun 2025

All Quarterly Resultsstock-summary
Half Yearly Results Snapshot (Standalone) - Sep'25stock-summary
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
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.
stock-summary 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 Resultsstock-summary
Nine Monthly Results Snapshot (Standalone) - Mar'25stock-summary
Mar'25
Change(%)
Net Sales
791.39
NA
NA
Operating Profit (PBDIT) excl Other Income
458.79
NA
NA
Interest
244.09
NA
NA
Exceptional Items
0.00
NA
NA
Standalone Net Profit
-125.89
NA
NA
Operating Profit Margin (Excl OI)
57.97%
NA%
NA
Values in Rs Cr.
stock-summary 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 Resultsstock-summary
Annual Results Snapshot (Standalone) - Mar'25stock-summary
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
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.
stock-summary 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 Resultsstock-summary
stock-summaryCompany CV
About Indiqube Spaces Ltd stock-summary
stock-summary
Indiqube Spaces Ltd
Small Cap
Diversified Commercial Services
No Details Available.
Company Coordinates stock-summary
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No Company Details Available
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